Questions
Why is your TJX RNOA significantly different from that of ANF? Selected balance sheet and income...

Why is your TJX RNOA significantly different from that of ANF?

Selected balance sheet and income statement information [US$ millions] from Abercrombie & Fitch [ANF] and TJX Companies, clothing retailers in the high-end and value-priced segments, respectively, follows. Compute the 2016 return on net operating assets (RNOA) for both companies.

2016 Sales

2016 NOPAT

2016 NOA

2015 NOA

ANF

$2,784.7

$324.7

$565.0

$ 361.7

TJX

16,057.9

708.5

2,235.9

2,139.5

ANF is 70.08% & TJX is 32.39%

Answer: Why is your TJX RNOA significantly different from that of ANF?

In: Finance

Polk Incorporated issued $127,000 of 7% bonds on July 1, 2016, for $131,944.18. The bonds were...

Polk Incorporated issued $127,000 of 7% bonds on July 1, 2016, for $131,944.18. The bonds were dated January 1, 2016, pay interest on each June 30 and December 31, are due December 31, 2020, and were issued to yield 6%. Polk uses the effective interest method of amortization.

Required:

Prepare the journal entries to record the issue of the bonds on July 1, 2016, and the interest payments on December 31, 2016, and June 30, 2017. In addition, prepare a bond interest expense and premium amortization schedule for the bonds through June 30, 2017.

Show all calculations

In: Accounting

Zhender Inc. manufactures hair brushes that sell at wholesale for $2.60 per unit. Budgeted production in...

Zhender Inc. manufactures hair brushes that sell at wholesale for $2.60 per unit. Budgeted production in both 2015 and 2016 was 3,000 units. There was no beginning inventory in 2015. The following data summarized the 2015 and 2016 operations: 2015 2016 Units sold 2,500 3,200 Units produced 3,000 3,000 Costs: Variable factory overhead per unit $0.65 $0.65 Fixed factory overhead $1,290 $1,290 Variable marketing per unit $0.80 $0.80 Fixed Selling and Administrative $650 $650 Variable costing operating income for 2016 is calculated to be: $850. $1,150. $1,295. $1,654. $1,740.

In: Accounting

The inventories of Berry Company for the years 2016 and 2017 are as follows: Cost Market...

The inventories of Berry Company for the years 2016 and 2017 are as follows:

Cost Market
January 1, 2016 $10,000 $10,000
December 31, 2016 13,000 11,500
December 31, 2017 15,000 14,000

Berry uses a perpetual inventory system.

Required:
1. Assume the inventory that existed at the end of 2016 was sold in 2017. Prepare the necessary journal entries at the end of each year to record the correct inventory valuation if Berry uses the:
a. direct method
b. allowance method
2. Next Level Explain any differences in inventory valuation and income between the two methods.

In: Accounting

14. The Anderson Company acquired 100,000 shares of the Beck Company on January 1, 2016, at...

14. The Anderson Company acquired 100,000 shares of the Beck Company on January 1, 2016, at $25 per share. Beck’s stock price on December 31, 2016, was $35 per share. During 2016, Beck declared and paid dividends of $1.50 per share and had earnings of $2.50 per share. Anderson Company accounted for its investment in Beck Company shares as subsequently measured at fair value through OCI. What was the net effect of investment in Beck Company shares on Anderson’s income statement for 2016?

  1. $250,000.
  2. $100,000.
  3. $150,000.

Answer is c, why

In: Accounting

I have a python dictionary with the following format Key Type Value January str ['January 01...

I have a python dictionary with the following format

Key Type Value

January str ['January 01 2020', 'January 02 2019', 'January 03 2018']

June str ['June 04 2018', 'June 05 2018', 'June 06 2016]

August str ['Augsut 07 2016', 'August 08 2016']

How do return the following conclusion with python code?

January has the most day (1) in 2020

January has the most day (1) in 2019

June has the most days (2) in 2018

August has the most days (2) in 2016

In: Computer Science

*NEED BY 10:59!! Ogonquit Enterprises prepares annual financial statements and adjusts its accounts only at the...

*NEED BY 10:59!!

Ogonquit Enterprises prepares annual financial statements and adjusts its accounts only at the end of the year. The following information is available for the year ended December 31, 2016:

a. Ogonquit purchased office furniture last year for $25,000. The furniture has an estimated useful life of seven years and an estimated salvage value of $4,000.
b. The Supplies account had a balance of $1,200 on January 1, 2016. During 2016, Ogonquit added $12,900 to the account for purchases of supplies during the year. A count of the supplies on hand at the end of December 2016 indicates a balance of $900.
c. On July 1, 2016, Ogonquit credited a liability account, Customer Deposits, for $8,800. This sum represents an amount that a customer paid in advance and that will be recognized evenly by Ogonquit over an eight-month period.
d. Ogonquit rented some warehouse space on September 1, 2016, at a rate of $4,000 per month. On that date, Ogonquit debited Prepaid Rent for six months’ rent paid in advance.
e. Ogonquit took out a 90-day, 6%, $30,000 note on November 1, 2016, with interest and principal to be paid at maturity.
f. Ogonquit operates five days per week with an average weekly payroll of $4,150. Ogonquit pays its employees every Thursday. December 31, 2016, is a Saturday.

Required:

1. fill out in this box format
DATE ACCOUNT TITLE POST. REF. DEBIT CREDIT ASSETS LIABILITIES EQUITY REVENUE EXPENSES NET INCOME

1

Adjusting Entries

In: Accounting

Carolina Consulting Company has a defined benefit pension plan. The following pension-related data were available for...

  1. Carolina Consulting Company has a defined benefit pension plan. The following pension-related data were available for the current calendar year:

  PBO:

  Balance, Jan. 1

$

242,000

  Service cost

43,000

  Interest cost (5% discount rate)

12,100

  Gain from changes in actuarial assumptions in 2016

(5,200)

  Benefits paid to retirees

(22,000)

  Balance, Dec. 31

$

269,900   

  Plan assets:

  Balance, Jan.1

$

252,000

  Actual return (expected return was $22,700)

20,000

  Contributions

37,000

  Benefits paid

(22,000)

  Balance, Dec. 31

$

287,000

  January 1, 2016, balances:

  Prior service cost–AOCI (amortization $4,170/yr.)

4,170

  Net gain–AOCI (amortization, if any, over 15 years)

41,700

  There were no other relevant data.

1. Calculate the 2016 pension expense.     

2. Prepare the 2016 journal entries to record pension expense

3. Prepare the 2016 journal entries to record funding.

4.Prepare any journal entries to record any 2016 gains or losses

5. Fill in the following spreadsheet :

PBO

Plan Assets

Prior Service cost
-AOCI

Net (gain)
-AOCI

Pension
Expense

Cash

Pension Asset
(Liability)

Beginning balance, 01/01/2016

Service cost

Interest cost

Expected return on assets

Gain/loss on assets

Amortization of:

Prior service cost

Net gain/loss

Loss (gain) on PBO

Contributions to fund

Retiree benefits paid

Ending balance, 12/31/2016

In: Accounting

Wright Development purchases, develops, and sells commercial building sites. As the sites are sold, they are...

Wright Development purchases, develops, and sells commercial building sites. As the sites are sold, they are cleared at an average cost of $2,500 per site. Storm drains and driveways are also installed at an average cost of $5,500 per site. Selling costs are 10 percent of sales price. Administrative costs are $420,000 per year. During 2016, the company bought 1,000 acres of land for $5,000,000 and divided it into 200 sites of equal size. The average selling price per site was $85,000 during 2016 when 50 sites were sold. During 2017, the company purchased and developed another 1,000 acres, divided into 200 sites. The purchase price was again $5,000,000. Sales totaled 300 sites in 2017 at an average price of $85,000.

Required a. Prepare 2016 and 2017 functional income statements using absorption costing.

Use a negative sign only to indicate a net loss for income. Otherwise, do not use negative signs with your answers.

Wright Development
Functional Income Statements
For the Years 2016 and 2017
2016 2017
Sales
Cost of sales
Gross profit
Selling and administrative expenses:
Net income (loss)


b. Prepare 2016 and 2017 contribution income statements using variable costing.

Use a negative sign only to indicate a net loss for income. Otherwise, do not use negative signs with your answers.

Wright Development
Contribution Income Statements
For the Years 2016 and 2017
2016 2017
Sales
Variable costs
Contribution margin
Fixed expenses
Net income (loss)

In: Accounting

I need to implement incrementalInserstionSort im stuck on that part import java.util.*; /** * This class...

I need to implement incrementalInserstionSort im stuck on that part

import java.util.*;

/**
 * This class represents chains of linked nodes that
 * can be sorted by a Shell sort.
 *
 * @author Charles Hoot
 * @author Frank M. Carrano
 *         Modified by atb
 * @author YOUR NAME
 * @version 9/29/2020
 */
public class ChainSort>
{
    private Node firstNode; // reference to first node

    public ChainSort()
    {
        this.firstNode = null;
    }

    public void display()
    {
        Node currentNode = this.firstNode;
        while (currentNode != null)
        {
            System.out.print(currentNode.data + " ");
            currentNode = currentNode.next;
        }
        System.out.println();
    } // end display

    public boolean isEmpty()
    {
       return this.firstNode == null;
    } // end isEmpty

    public void addToBeginning(T newEntry)
    {
        Node newNode = new Node<>(newEntry);
        newNode.next = this.firstNode;
        this.firstNode = newNode;
    } // end addToBeginning

    public void shellSort(int chainSize)
    {
        //TODO Project3

        for (int space = chainSize / 2; space > 0; space = space / 2)
        {
            //     create sub-chains:
            //          set previousNode to the first node in the chain
            //          set currentNode to the first node in the chain
            //          with a for loop traverse nodes space times using currentNode
            //            to find the second node of the first sub-chain
            //
            //          with a while loop set up backward links for all sub-chains:
            //              set currentNode's previous pointer to the previousNode
            //              set previousNode to its next node and do the same with the currentNode
            Node currentNode = this.firstNode;
            Node previousNode = this.firstNode;
            for (int index = 0; index < space; index++)
            {
                currentNode = currentNode.next;
            }


            while (currentNode != null)
            {
                previousNode = previousNode.next;
                currentNode = currentNode.next;
            }



            System.out.println("\n\u001B[35m\u001B[1m----->Before partial sort with space " + space + " :\u001B[0m");
            display();
            // sort all the sub-chains:
            incrementalInsertionSort(space);
            System.out.println("\u001B[35m\u001B[1m----->After partial sort done with space " + space + " :\u001B[0m");
            display();
        }
    } // end shellSort

    /**
     * Task: Sorts equally spaced elements of a linked chain into
     * ascending order. Sub-chains created with a use of previous.
     *
     * @param space the space between the nodes of the
     *              elements to sort
     */
    private void incrementalInsertionSort( int space)
    {
        //TODO Project3
        // when sorting do not change pointers - simply swap the data if needed


    } // end incrementalInsertionSort


    private class Node
    {
        private S data;
        private Node next;
        private Node previous; // ADDED for linking backwards for shell sort

        private Node(S dataPortion)
        {
            this.data = dataPortion;
            this.next = null;
            this.previous = null;
        }
    } // end Node

    // ************ TEST DRIVER *****************

    public static void main(String args[])
    {
        System.out.println("What size chain should be used?");
        int chainSize = getInt("   It should be an integer value greater than or equal to 1.");

        System.out.println("What seed value should be used?");
        int seed = getInt("   It should be an integer value greater than or equal to 1.");
        Random generator = new Random(seed);
        ChainSort myChain = new ChainSort<>();

        for (int i = 0; i < chainSize; i++)
            myChain.addToBeginning(generator.nextInt(100));

        System.out.print("\nOriginal Chain Content: ");
        myChain.display();
        myChain.shellSort(chainSize);
        System.out.print("\nSorted Chain Content: ");
        myChain.display();
    }


    /**
     * Get an integer value
     *
     * @param rangePrompt String representing a message used to ask the user for input
     * @return an integer
     */
    private static int getInt(String rangePrompt)
    {
        Scanner input;
        int result = 10;        //default value is 10
        try
        {
            input = new Scanner(System.in);
            System.out.println(rangePrompt);
            result = input.nextInt();

        } catch (NumberFormatException e)
        {
            System.out.println("Could not convert input to an integer");
            System.out.println(e.getMessage());
            System.out.println("Will use 10 as the default value");
        } catch (Exception e)
        {
            System.out.println("There was an error with System.in");
            System.out.println(e.getMessage());
            System.out.println("Will use 10 as the default value");
        }
        return result;
    }
} // end ChainSort

In: Computer Science