need to check my answers
On November 1, 2017, the account balances of Hamm Equipment Repair were as follows.
|
No. |
Debits |
No. |
Credits |
|||||||
| 101 | Cash | $ 2,390 | 154 | Accumulated Depreciation—Equipment | $ 1,870 | |||||
| 112 | Accounts Receivable | 4,300 | 201 | Accounts Payable | 2,560 | |||||
| 126 | Supplies | 1,800 | 209 | Unearned Service Revenue | 1,170 | |||||
| 153 | Equipment | 11,220 | 212 | Salaries and Wages Payable | 710 | |||||
| 301 | Owner’s Capital | 13,400 | ||||||||
| $19,710 | $19,710 | |||||||||
During November, the following summary transactions were
completed.
| Nov. 8 | Paid $1,700 for salaries due employees, of which $710 is for October salaries. | |
| 10 | Received $3,390 cash from customers on account. | |
| 12 | Received $3,080 cash for services performed in November. | |
| 15 | Purchased equipment on account $2,020. | |
| 17 | Purchased supplies on account $740. | |
| 20 | Paid creditors on account $2,750. | |
| 22 | Paid November rent $440. | |
| 25 | Paid salaries $1,700. | |
| 27 | Performed services on account and billed customers for these services $1,930. | |
| 29 | Received $570 from customers for future service. |
___________________________________________________________________
e.)Adjustment data consist of:
| 1. | Supplies on hand $1,400. |
| 2. | Accrued salaries payable $355. |
| 3. | Depreciation for the month is $187. |
| 4. | Services related to unearned service revenue of $1,220 were performed. |
Journalize the adjusting entries.
Post the adjusting entries
f.)Prepare an adjusted trial balance.
In: Accounting
Question 3
The Fly-High Airplane Company builds small jet airplanes to sell to corporations for use by their executives. To meet the needs of these executives, the company's customers sometimes order a custom design of the airplanes being purchased. When this occurs, a substantial start-up cost is incurred to initiate the production of these airplanes.
Fly-High has recently received purchase requests from three customers with short deadlines. However, because the company's production facilities already are almost completely tied up filling previous orders, it will not be able to accept all three orders. Therefore, a decision now needs to be made on the number of airplanes the company will agree to produce (if any) for each of the three customers.
The relevant data are given in the table below. The first row gives the start-up cost required to initiate the production of the airplanes for each customer. Once production is under way, the marginal net revenue from each airplane produced is shown in the second row. The marginal net revenue is the purchase price minus the marginal production cost. The third row gives the percentage of the available production capacity that would be used for each plane produced. The last row indicates the maximum number of airplane requested by each customer (but less will be accepted).
|
Customer 1 |
Customer 2 |
Customer 3 |
|
|
Start-up cost |
$3 million |
$2 million |
0 |
|
Marginal net revenue |
$2 million |
$3 million |
$0.8 million |
|
Capacity used per plane |
20% |
40% |
20% |
|
Maximum order |
3 planes |
2 planes |
5 planes |
Fly-High now wants to determine how many airplanes to produce for each customer (if any) to maximize the company's total profit (total net revenue minus start-up costs). Formulate the mixed integer programming model and solve it using Excel solver for this problem.
In: Operations Management
Case study#1: From Housing Bubble to Housing Bust
The United States experienced rising home ownership rates for most of the last two decades. Between 1990 and 2006, the U.S. housing market grew. Homeownership rates grew from 64% to a high of over 69% between 2004 and 2005. For many people, this was a period in which they could either buy first homes or buy a larger and more expensive home. During this time mortgage values tripled. Housing became more accessible to Americans and was considered to be a safe financial investment. The housing bubble began to show signs of bursting in 2005, as delinquency and late payments began to grow and an oversupply of new homes on the market became apparent. Dropping home values contributed to a decrease in the overall wealth of the household sector and caused homeowners to pull back on spending. Several mortgage lenders were forced to file for bankruptcy because homeowners were not making their payments, and by 2008 the problem had spread throughout the financial markets. Lenders clamped down on credit and the housing bubble burst. Financial markets were now in crisis and unable or unwilling to even extend credit to credit-worthy customers.
The housing bubble and the crisis in the financial markets were major contributors to the Great Recession that led to unemployment rates over 10% and falling GDP. While the United States is still recovering from the impact of the Great Recession, it has made substantial progress in restoring financial market stability through the implementation of aggressive fiscal and monetary policy.
The economic history of the United States is cyclical in nature with recessions and expansions. Some of these fluctuations are severe, such as the economic downturn experienced during Great Depression of the 1930’s which lasted several years. Why does the economy grow at different rates in different years? What are the causes of the cyclical behavior of the economy? This chapter will introduce an important model, the aggregate demand–aggregate supply model, to begin our understanding of why economies expand and contract over time.
Question: Analyze the above Case Study from the Aggregate Demand and Aggregate Supply Theory.
In: Economics
McEwan Industries sells on terms of 3/10, net 40. Total sales for the year are $952,500; 40% of the customers pay on the 10th day and take discounts, while the other 60% pay, on average, 74 days after their purchases. Assume 365 days in year for your calculations.
a. What is the days sales outstanding? Round your answer to two decimal places. days
b. What is the average amount of receivables? Round your answer to the nearest cent. Do not round intermediate calculations.
c. What is the percentage cost of trade credit to customers who take the discount? Round your answers to two decimal places. %
d. What is the percentage cost of trade credit to customers who do not take the discount and pay in 74 days? Round your answers to two decimal places. Do not round intermediate calculations. Nominal cost? Effective cost?
e.What would happen to McEwan’s accounts receivable if it toughened up on its collection policy with the result that all nondiscount customers paid on the 40th day? Round your answers to two decimal places. Do not round intermediate calculations. Days sales outstanding (DSO) = ? days Average receivables =?$
In: Finance
Topic 4:
1a.) Define prejudice and distinguish between prejudice, stereotypes and discrimination. 1b). What is the difference between explicit and implicit prejudice? 1c). Has racial prejudice disappeared in the United States? Why or why not? Explain your rationale.
2a). Examine the influences of prejudice. Describe how unequal
status, socialization and institutional supports contribute to
prejudice. 2b). Identify and explain how the scapegoat theory and
social identity theory contribute to prejudice. 2c). What are the
consequences of prejudice? Explain stereotype threat.
3a). Define aggression and describe its different forms: physical;
social; hostile and instrumental. 3b). How do biological influences
contribute to aggression? 3c). Explain how aggression can be
explained as a response to frustration.
4a). How can the following contribute to aggression: pain,
uncomfortable heat, an attack and overcrowding? 4b). Explain how
media influences aggression - be sure to highlight pornography,
television, Internet and video games.
5a). Explain how proximity, physical attractiveness, similarity, and feeling liked nurture liking and loving. 5b). Explain whether this statement is supported by research: birds of a feather flock together.
6a). Identify and explain the three components of Sternberg's triangle: passion, intimacy and commitment. 6b). How does companionate love differ from romantic love? Which love do you feel is most important in a relationship?
7a). Explain how attachment, equity and self-disclosure influence and ups and downs of close relationships.
8a). Summarize factors that predict marital dissolution and describe the detachment process.
In: Psychology
Why did the U.S. government decide to reopen the long-running
trade dispute between Boeing
and Airbus in 2004? Do you think the U.S. position is reasonable?
What about the EU’s
countercharges
In: Economics
In August 2005, Hurricane Katrina damaged or destroyed oil platforms in the Gulf of Mexico, refineries along the Gulf coast, and the pipeline infrastructure that transports oil and gas to customers across the eastern United States. The winter of 2006 was unusually cold in many parts of the country. How did these events affect the market for natural gas?
Describe or show the impact on Supply, Demand, Price, and Quantities of the impacted markets.
In: Economics
The federal government calculates its budget on a fiscal year that begins each year on October 1 and ends the following September 30. At the beginning of the 2003-2004 fiscal year, the Department of Finance forecast that the federal budget surplus for the fiscal year would be $4.0 billion. The actual budget surplus for the fiscal year was $9.1 billion. Federal expenditures were $1.7 billion less than the Department had forecast, and federal revenue was $1.5 billion more that the Department had forecast. The remainder of the surplus came from lower-than-forecast debt charges. a) Is it likely that the economy grew faster or more slowly during fiscal 2003-2004 than the Department of Finance had expected? Explain your reasoning. b) Suppose that the federal government was committed to balancing the budget each year. What actions of the government would have led to a balanced budget? And what will be the economic consequences? Explain. c) Does the surprise surplus during fiscal 2003-2004 provide any insight into difficulties that might arise in trying to balance the budget every year? Explain.
In: Economics
Listed below is the net sales in $ million for Home Depot Inc. and its subsidiaries from 1993 to 2015. Remember to code the years starting at 1 for year 1993.
| Year | Net Sales | ||
| 1993 | $ | 9,239 | |
| 1994 | 11,836 | ||
| 1995 | 14,804 | ||
| 1996 | 18,165 | ||
| 1997 | 24,326 | ||
| 1998 | 31,349 | ||
| 1999 | 36,687 | ||
| 2000 | 47,660 | ||
| 2001 | 54,509 | ||
| 2002 | 57,861 | ||
| 2003 | 66,293 | ||
| 2004 | 75,025 | ||
| 2005 | 83,503 | ||
| 2006 | 90,116 | ||
| 2007 | 78,278 | ||
| 2008 | 70,438 | ||
| 2009 | 65,346 | ||
| 2010 | 67,300 | ||
| 2011 | 69,847 | ||
| 2012 | 75,519 | ||
| 2013 | 80,383 | ||
| 2014 | 83,101 | ||
| 2015 | 88,293 | ||
Determine the least squares equation. On the basis of this information, what are the estimated sales for 2016 and 2017? (Round your final answers to 2 decimal places.)
|
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In: Statistics and Probability
part a
calculate the sample autocorrelation function and provide an interpretation
part b
construct an individual control chart with the standard deviation estimated using the moving range method. how would ypu interpret the chart? are ypu comfortable with this interpretation?
data
2048, 2025, 2017, 1995, 1983, 1943, 1940, 1947, 1972, 1983, 1935, 1948, 1966, 1954, 1970, 2039, 2015, 2021, 2010, 2012, 2003, 1979, 2006, 2042, 2000, 2002, 2010, 1975, 1983, 2021, 2051, 2056, 2018, 2030, 2023, 2036, 2019, 2000, 1986, 1952, 1988, 2016, 2002, 2004, 2018, 2002, 1967, 1994, 2001, 2013, 2016, 2019, 2036, 2015, 2032, 2016, 2000, 1988, 2010, 2015, 2029, 2016, 2010, 2000, 2009, 1990, 1986, 1947, 1958, 1983, 2010, 2000, 2015, 2032
In: Statistics and Probability