|
Banko Inc. manufactures sporting goods. The following information applies to a machine purchased on January 1, 2016: |
| Purchase price | $ | 82,500 | |
| Delivery cost | $ | 3,000 | |
| Installation charge | $ | 1,000 | |
| Estimated life | 5 | years | |
| Estimated units | 157,000 | ||
| Salvage estimate | $ | 8,000 | |
| During 2016, the machine produced 53,000 units and during 2017, it produced 55,000 units. |
| Required: |
| a. |
Determine the amount of depreciation expense for 2016 and 2017 using straight-line method. |
| b. |
Determine the amount of depreciation expense for 2016 and 2017 using double-declining-balance method. |
| c. |
Determine the amount of depreciation expense for 2016 and 2017 using units of production method. |
| d. |
Determine the amount of depreciation expense for 2016 and 2017 using MACRS, assuming that the machine is classified as seven-year property. (Round your answers to the nearest dollar amount.) |
| MACRS table: |
| Year | 5-Year property,% | 7-Year property,% | ||||
| 1 | 20.00 | 14.29 | ||||
| 2 | 32.00 | 24.49 | ||||
| 3 | 19.20 | 17.49 | ||||
| 4 | 11.52 | 12.49 | ||||
| 5 | 11.52 | 8.93 | ||||
| 6 | 5.76 | 8.92 | ||||
| 7 | 8.93 | |||||
| 8 | 4.46 | |||||
In: Accounting
The amounts of the assets and liabilities of Nordic Travel Agency at December 31, 2016, the end of the year, and its revenue and expenses for the year follow. During the year, Ian withdrew $37,000.
| Accounts | Amounts |
|---|---|
| At Jan. 1, 2016: | |
| Ian Eisele, capital | $645,000 |
| At Dec. 31, 2016: | |
| Accounts payable | $73,000 |
| Accounts receivable | 277,000 |
| Cash | 191,500 |
| Fees earned | 918,700 |
| Land | 547,000 |
| Miscellaneous expense | 6,000 |
| Rent expense | 34,000 |
| Supplies | 6,000 |
| Supplies expense | 4,200 |
| Utilities expense | 29,000 |
| Wages expense | 505,000 |
| Required: | |||
| 1. | Prepare an income statement for the year ended December 31, 2016.* | ||
| 2. | Prepare a statement of owner’s equity for the year ended December 31, 2016.* | ||
| 3. | Prepare a balance sheet as of December 31, 2016.* | ||
| 4. | What item appears on both the
statement of owner’s equity and the balance sheet?
|
In: Accounting
|
Banko Inc. manufactures sporting goods. The following information applies to a machine purchased on January 1, 2016 |
| Purchase price | $ | 67,000 | |
| Delivery cost | $ | 6,000 | |
| Installation charge | $ | 3,000 | |
| Estimated life | 5 | years | |
| Estimated units | 144,000 | ||
| Salvage estimate | $ | 4,000 | |
| During 2016, the machine produced 40,000 units and during 2017, it produced 42,000 units. |
| Required: |
| a. |
Determine the amount of depreciation expense for 2016 and 2017 using straight-line method. |
| b. |
Determine the amount of depreciation expense for 2016 and 2017 using double-declining-balance method. |
| c |
Determine the amount of depreciation expense for 2016 and 2017 using units of production method. |
| d. |
Determine the amount of depreciation expense for 2016 and 2017 using MACRS, assuming that the machine is classified as seven-year property. (Round your answers to the nearest dollar amount.) |
| MACRS table: |
| Year | 5-Year property,% | 7-Year property,% | ||||
| 1 | 20.00 | 14.29 | ||||
| 2 | 32.00 | 24.49 | ||||
| 3 | 19.20 | 17.49 | ||||
| 4 | 11.52 | 12.49 | ||||
| 5 | 11.52 | 8.93 | ||||
| 6 | 5.76 | 8.92 | ||||
| 7 | 8.93 | |||||
| 8 | 4.46 | |||||
In: Accounting
Case Development began operations in December 2016. When property is sold on an installment basis, Case recognizes installment income for financial reporting purposes in the year of the sale. For tax purposes, installment income is reported by the installment method. 2016 installment income was $320,000 and will be collected over the next three years. Scheduled collections and enacted tax rates for 2017–2019 are as follows:
| 2017 | $ | 60,000 | 20 | % |
| 2018 | 190,000 | 30 | ||
| 2019 | 70,000 | 30 | ||
|
Pretax accounting income for 2016 was $426,000, which includes interest revenue of $16,000 from municipal bonds. The enacted tax rate for 2016 is 20%. |
| Required: |
| 1. |
Assuming no differences between accounting income and taxable income other than those described above, prepare the appropriate journal entry to record Case’s 2016 income taxes. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Enter your answers in thousands.) |
| 2. |
What is Case’s 2016 net income? (Enter your answer in thousands.) |
| 3. |
How should the deferred tax amount be classified in a classified balance sheet? (Enter your answers in thousands.) |
In: Accounting
On Dec 31, 2016, Riyadh Company had accounts:
|
# of Days Outstanding |
Amounts |
Estimated % Uncollectible |
|
0-30 |
$ 100,000 |
2% |
|
31-60 |
300,000 |
4% |
|
61-90 |
300,000 |
6% |
|
Over 90 |
100,000 |
8% |
Requirements:
In: Accounting
Write a bash script that will allow you to:
Ex:
If 10 is entered for the first number and 3 for the second, you should output
Your name
Course name
Instructor’s name
10 is greater than 3.
If 33 is entered for the first number and 100 for the second, you shou output
Your name
Course name
Instructor’s name
100 is greater than 33.
please write in linux/ unix code
In: Computer Science
In 2010, the Institute of Medicine released a report entitled The Future of Nursing. In 2020, we are now at the 10th anniversary of its publication. Although you do not have the full report in front of you, the key areas addressed in the report are listed below. For each of the eight areas, give your opinion of whether or not the goal has been fully met, partially met, or not met. Then for goals #1, #2, #6, #7, and either #4 or #5, discuss how you in a role as a staff RN can contribute to the achievement of the goals or to the further advancement of the goal if you believe it has already been met.
Key Areas Addressed:
1. Remove scope-of-practice barriers
2. Expand opportunities for nurses to lead and diffuse collaborative improvement efforts.
3. Implement nurse residency programs.
4. Increase the proportion of nurses with a baccalaureate degree to 80% by 2020.
5. Double the number of nurses with a doctorate by 2020.
6. Ensure that nurses engage in lifelong learning.
7. Prepare and enable nurses to lead changes to advance health
8. Build an infrastructure for the collection and analysis of inter-professional healthcare workforce data.
All postings are to be in complete sentences. You may answer the met/not met with simple sentences - Goal #x is met. Goal #y is not met. as examples. When speaking to the five goals, you must address how you can assist the profession in meeting/improving each goal's response in a full paragraph with at least four sentences.
In: Nursing
Calculate the cell potential for a reaction in a electrolytic cell with the following half-reactions if: [U 3+] = 0.10 M, [MnO4 - ] = 0.20M, [Mn2+], and [H+ ] = 0.20 M
U 3+ + 3e -> U o Ecell = - 1.642 V
MnO4 - + 8H+ + 5e- -> Mn2+ + 4H2O Ecell = +1.51 V
In: Chemistry
Problem for submission: For which positive integers k can a simple graph G = (V, E) be constructed such that: G has k vertexes, that is, |V | = k, G is bipartite, and its complement G is bipartite? Prove your answer is correct
Please show and explain your full proof.
In: Advanced Math
Let X have a uniform distribution on the interval
[A, B].
(a)
Obtain an expression for the (100p)th percentile, x.
x =
(b)
Compute
E(X), V(X), and σX.
E(X)
=
V(X)
=
σX
=
(c)
For n, a positive integer, compute
E(Xn).
E(Xn)
=
In: Statistics and Probability