A company reported Net Income of $1,000,000 for 2015 and $1,000,000 for 2016. After the books have been closed for 2017, it was discovered that the ending inventory for 2015 was overstated by $20,000. Tell the effect that the error had on each of the following:

a. Cost of Goods Sold for 2015 as originally reported

b. Net Income for 2015 as originally reported

c. Cost of Goods Sold for 2016 as originally reported

d. Net Income for 2016 as originally reported

e. Retained Earnings as of the end of 2016

Explain the chart below :

In the country of imagination, we have the following data for the GDP calculation (2015 is the base year):

1. Please compute the nominal GDP, real GDP and GDP deflator for 2016.
2. what is the percentage change in nominal GDP between 2015 and 2016?
3. What is the percentage change of the overall price (GDP deflator) between 2015 and 2016?

Using JavaScript

You must submit a file called, called pass.js

pass.js: Validator of passwords

Your task this week will be to program a valid password validator.

A password is safe only if it satisfies the following constraints:

- It has from 5 to 10 characters (inclusive)
- It contains at least one lowercase letter, at least one capital letter and at least one number
- The first character is different from the last

Once the password is entered and validated, the user is asked to copy it again to validate.

Course of the program

More precisely :

1. Ask the user to enter a password with:

      prompt ("Please choose a password");

2. Check if the password matches the requirements

   2a. If the password is invalid, display "Invalid password" and end the program (the rest of the program runs only if this step was done correctly)

   2b. If the password is correct, go to step 3

3. Ask the user to enter the password again with:

      prompt ("Please enter the password a second time to confirm");

4. Check if both passwords are the same

   4a. If the passwords do not match, show "You did not enter the same password twice" and ask to start again
   4b. If the two entered passwords match, go to step 5

5. Once the password is valid and entered twice correctly, display "Password saved!"

Here is an example of the execution of the program :

Please choose a password
> the user enters "abc"
Invalid password

Another example :

Please choose a password
> the user enters "l33th4xx0r"
Please enter the password a second time to confirm
> the user enters "abc"
You have not entered the same password twice
Please enter the password a second time to confirm
> the user enters "l33th4xx0r"
Password saved!

Your program must be complete, with comments that
indicate the name of the file, the author (your name), a brief
description of the usefulness of the program. There must also be
comments that explain what each variable corresponds to,
and the operation of the program. Use statements of
appropriate loop, correct indentation, and block statements
in the body of if and loops. Your program should avoid
redundant and repetitive calculations.

a. Three-fourths of the work related to $13,000 cash received in advance is performed this period.
b. Wages of $11,000 are earned by workers but not paid as of December 31, 2016.
c. Depreciation on the company’s equipment for 2016 is $10,600.
d. The Office Supplies account had a $480 debit balance on December 31, 2015. During 2016, $5,596 of office supplies are purchased. A physical count of supplies at December 31, 2016, shows $610 of supplies available.
e. The Prepaid Insurance account had a $5,000 balance on December 31, 2015. An analysis of insurance policies shows that $2,200 of unexpired insurance benefits remain at December 31, 2016.
f. The company has earned (but not recorded) $650 of interest from investments in CDs for the year ended December 31, 2016. The interest revenue will be received on January 10, 2017.
f. The company has a bank loan and has incurred (but not recorded) interest expense of $2,500 for the year ended December 31, 2016. The company must pay the interest on January 2, 2017.

Required: For each of the above separate cases, prepare adjusting entries required for financial statements for the year ended (date of) December 31, 2016. (Assume that prepaid expenses are initially recorded in asset accounts and that fees collected in advance of work are initially recorded as liabilities.)

Lucas Company reports net income of $2,460 for the year ended December 31, 2016, its first year of operations. On January 4, 2016, Lucas issued 9,000 shares of common stock. On August 2, 2016, it issued an additional 3,000 shares of stock, resulting in 12,000 shares outstanding at year-end.

During 2017, Lucas earned net income of $17,400 . It issued 3,000 additional shares of stock on March 3, 2017, and declared and issued a 2-for-1 stock split on November 3, 2017, resulting in 30,000 shares outstanding at year-end.

During 2018, Lucas earned net income of $28,800 . The only common stock transaction during 2018 was a 20% stock dividend issued on July 2, 2018.

If required, round your final answers to two decimal places.

Required:

1. Compute the basic earnings per share that would be disclosed in the 2016 annual report.
   $  per share
2. Compute the 2016 and 2017 comparative basic earnings per share that would be disclosed in the 2017 annual report.
   2017:   $  per share
   2016:   $  per share
3. Compute the 2016, 2017, and 2018 comparative basic earnings per share that would be disclosed in the 2018 annual report.
   2018:   $  per share
   2017:   $  per share
   2016:   $  per share

Gary’s TV had the following accounts and amounts in its financial statements on December 31, 2016. Assume that all balance sheet items reflect account balances at December 31, 2016, and that all income statement items reflect activities that occurred during the year then ended.

Required:

a. Calculate the difference between current assets and current liabilities for Gary’s TV at December 31, 2016.

b. Calculate the total assets at December 31, 2016.

c. Calculate the earnings from operations (operating income) for the year ended December 31, 2016.

d. Calculate the net income (or loss) for the year ended December 31, 2016.

e. What was the average income tax rate for Gary’s TV for 2016?

f. If $425,360 of dividends had been declared and paid during the year, what was the January 1, 2016, balance of retained earnings?

Click on the following icon

in order to copy its contents into a​ spreadsheet.)

Balance sheet. From the following balance sheet accounts in the popup​ window,

​,a. construct a balance sheet for 2016 and 2017.

b. list all the working capital accounts.

c. find the net working capital for the years ending 2016 and 2017.

d. calculate the change in net working capital for the year 2017.

a. construct a balance sheet for 2016 and 2017.

Complete the balance sheet for 2016 ​below:  ​(Round to the nearest​ dollar.)

Helen Parish started a design company on January 1, 2016. On April 1, 2016, Parish borrowed cash from a local bank by issuing a one-year $42,400 face value note with annual interest based on an 12 percent discount. During 2016, Parish provided services for $37,950 cash. Required Answer the following questions. Record the events in T-accounts prior to answering the questions. (Select "1, 2, or 3" for the transactions in the order they take place. Round your answers to nearest dollar amount.) a. What is the amount of total liabilities on the December 31, 2016, balance sheet? (Round your answer to nearest dollar amount.) b. What is the amount of net income on the 2016 income statement? (Round your intermediate calculations and final answer to nearest dollar amount.) c. What is the amount of cash flow from operating activities on the 2016 statement of cash flows? d. Provide the general journal entries necessary to record issuing the note on April 1, 2016; recognizing accrued interest on December 31, 2016; and repaying the loan on March 31, 2017. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Round your answers to nearest dollar amount.)

Problem 13.5B. The data below concerns adjustments to be made at Ramos Company.

Instructions:

1. Record the adjusting entries in the general journal as of December 31, 2016. Use 25 as the first journal page number. Include descriptions.
2. Record reversing entries in the general journal as of January 1, 2017. Include descriptions.

Adjustments:

1. On August 1, 2016, the firm signed a six-month advertising contract with a trade magazine and paid the entire amount, $17,700, in advance. Prepaid Advertising had a balance of $17,700 on December 31, 2016.
2. On December 31, 2016, an inventory of supplies showed that items costing $3,040 were on hand. The balance of the Supplies account was $11,120.
3. A depreciation schedule for the firm’s store equipment shows that a total of $9,800 should be charged off as depreciation for 2016.
4. On December 31, 2016, the firm owed salaries of $4,400 that will not be paid until January 2017.
5. On December 31, 2016, the firm owed the employer’s social security (6.2 percent) and Medicare (1.45 percent) taxes on all accrued salaries.
6. On December 1, 2016 the firm received a five-month, 6 percent note for $5,500 from a customer with an overdue balance.

Analyze: After the adjusting entries have been posted, what is the balance of the Prepaid Advertising account on December 31?