You have been made CEO of Ferrari, and your explicit objective is to grow the company through diversification (i.e., exploiting new products and markets). What options are immediately available to you? What business-wide considerations will affect your ability to execute your strategy? recoommede word count is 300-400 words
In: Finance
Assume that Timberline Corporation has 2019 taxable income of $270,000 for purposes of computing the §179 expense. It acquired the following assets in 2019: (Use MACRS Table 1, Table 2, Table 3, Table 4 and Table 5.)
| Purchase | |||
| Asset | Date | Basis | |
| Furniture (7-year) | December 1 | $ | 480,000 |
| Computer equipment (5-year) | February 28 | 120,000 | |
| Copier (5-year) | July 15 | 60,000 | |
| Machinery (7-year) | May 22 | 510,000 | |
| Total | $ | 1,170,000 | |
Required:
a-1. What is the maximum amount of §179 expense Timberline may deduct for 2019?
a-2. What is Timberline’s §179 carryforward to 2020, if any?
In: Accounting
5. A machine was acquired on January 1, 2018, at a cost of $80,000. The machine was originally estimated to have a residual value of $5,000 and an estimated life of 5 years. The machine is expected to produce a total of 100,000 components during its life, as follows: 15,000 in 2018, 20,000 in 2019, 20,000 in 2020, 30,000 in 2021, and 15,000 in 2022.
Instructions
(a) Calculate the amount of depreciation to be charged each year, using each of the following methods :
1. Straight-line method
2. Units-of-production
3. Double diminishing-balance
(b) Which method results in the highest depreciation expense during the first two years? Over all five years?
In: Accounting
A social science researcher collected data from a random sample of 400 students at a large university and found that, on average, they belonged to 2.6 campus organizations. The standard deviation σ for the population is 1.8.
Using these data, construct a 95% confidence interval for µ, the mean number of campus organizations belonged to by the population of students at this university.
Write a sentence to interpret your confidence interval, making sure to provide all the important information.
In: Statistics and Probability
|
2.27 |
3.05 |
2.57 |
3.36 |
3.10 |
3.03 |
3.19 |
3.08 |
|
2.60 |
2.92 |
2.77 |
3.55 |
2.63 |
2.79 |
2.70 |
2.92 |
In: Statistics and Probability
A social science researcher collected data from a random sample of 400 students at a large university and found that, on average, they belonged to 2.6 campus organizations. The standard deviation σ for the population is 1.8.
Using these data, construct a 95% confidence interval for µ, the mean number of campus organizations belonged to by the population of students at this university.
Write a sentence to interpret your confidence interval, making sure to provide all the important information.
In: Statistics and Probability
java programing
Q: Given the following class:
public class Student {
private String firstName;
private String lastName;
private int age;
private University university;
public Student(String firstName, String lastName, int age, University university) {
this.firstName = fisrtName;
this.lastName = lastName;
this.age = age;
this.university = university;
}
public String getFirstName(){
return firstName;
}
public String getLastName(){
return lastName;
}
public int getAge(){
return age;
}
public University getUniversity(){
return university;
}
public String toString() {
return "\nFirst name:" + firstName + "\nLast name:" + lastName + " \nAge:"+ age + "\nUniversity" + university;
}
}
a- Create the University class (data type). The class must include name, state, and the country as member variables; it must also include methods for returning and storing the name, state, and country.
b- Create client code to test the classes.
In: Computer Science
1. Computers R US took out a 9 month, 4.25, $17,000 note on August 1, 2019 with interest and principal to be paid on maturity. 2. On October 1, 2019, Computers R US rented some storage space at a rate of $450 per month. On that date, Computers R US recorded Rent Expense for six months rent paid in advance 3. Computers R US purchased $4,780 of office supplies during the year and the asset office supplies account was increased A count of the supplies on hand Dec 31, 2019, indicates a balance of $485. 4. $16,500 of store supplies were purchased during the year and were immediately expensed. A count of the store supplies on hand December 31, 2019, indicates a balance of $1.275. 5. On June 1, 2019 an 18-month insurance policy was purchased for $9,000. 6. On Dec 1, 2019, Computers R US collected $32,000 for consulting services to be performed from Dec. 1, 2019 to Feb. 28, 2020. The company credited the revenue account when paid. 7. On October 1, 2019, Computers R Us issued a 5-month note receivable to Morerams Inc. at an annual interest rate of 5%. Principle and interest will be paid at the end of the 5-months. The note was recorded in Notes Receivable and is the only note outstanding.
, A. Prepare a worksheet (Show formulas and use an "IF" statement)
B. Prepare the adjusting journal entries
C. Prepare a multiple step income statement
D. Prepare a statement of retained earnings
E. Prepare a balance sheet
F. Prepare the closing entries
| Unadjusted | Adjusted | |||||
| Account Title | Trial Balance | Adjustments | Trial Balance | |||
| DR | CR | DR | CR | DR | CR | |
| Cash | 67,000 | - | ||||
| Accounts Receivable | 530,000 | - | ||||
| Allowance for Doubtful Accounts | 8,800 | |||||
| Interest Receivable | - | |||||
| Merchandise Inventory | 242,500 | - | ||||
| Prepaid Insurance | 9,000 | - | ||||
| Prepaid Rent | - | |||||
| Store Supplies | - | - | ||||
| Office Supplies | 4,780 | - | ||||
| Note Receivable | 2,500 | |||||
| Store Equipment | 110,000 | - | ||||
| Accumulated Depreciation - Store Equipment | - | 36,000 | ||||
| Office Equipment | 56,000 | - | ||||
| Accumulated Depreciation - Office Equipment | - | - | ||||
| Accounts Payable | - | 48,000 | ||||
| Salaries Payable | - | - | ||||
| Interest Payable | - | - | ||||
| Utilities Payable | ||||||
| Unearned Consulting Revenue | - | |||||
| Unearned Rent Revenue | 18,000 | |||||
| Note Payable | - | 17,000 | ||||
| Common Stock | - | 300,000 | ||||
| Retained Earnings | - | 263,450 | ||||
| Dividends | 12,000 | - | ||||
| Sales Revenue | - | 970,000 | ||||
| Consulting Revenue | - | 32,000 | ||||
| Rent Revenue | ||||||
| Interest Revenue | ||||||
| Sales Returns and Allowances | 15,800 | - | ||||
| Sales Discounts | 11,000 | - | ||||
| Cost of Goods Sold | 350,000 | - | ||||
| Sales Salaries Expense | 170,000 | |||||
| Office Salaries Expense | 80,000 | - | ||||
| Miscellaneous Administrative Expense | 4,500 | - | ||||
| Miscellaneous Selling Expense | 8,970 | - | ||||
| Depreciation Expense - Store Equipment | - | - | ||||
| Depreciation Expense - Office Equipment | - | - | ||||
| Store Supplies Expense | 16,500 | - | ||||
| Office Supplies Expense | - | - | ||||
| Rent Expense | 2,700 | - | ||||
| Insurance Expense | - | - | ||||
| Interest Expense | - | - | ||||
| Bad Debt Expense | - | - | ||||
| Utilities Expense-Store | ||||||
| Utilities Expense-Office | ||||||
| 1,693,250 | 1,693,250 | |||||
In: Accounting
In: Finance
On August 1, 2020, Kazazis Company sold inventory to Magic Company and received Magic’s 9-month, noninterest-bearing $100,000 note due April 30, 2021. The cash selling price of the inventory was $94,000. The cost of the inventory was $60,000. Kazazis records adjusting entries annually at December 31.
a. Record the August 1, 2020, journal entries (including COGS) for Kazazis.
b. If Kazazis recorded the note as an interest-bearing note on August 1, 2020, (i.e., did not record a discount on the note), how would the financial statements be misstated (overstated/understated and $ amount)?. (Hint: Record the entry without the discount and compare to your answer in part a.)ASSETSLIABILITIESSE2020 NET INCOME$$$$OverstatedOverstatedOverstatedOverstatedUnderstatedUnderstatedUnderstatedUnderstated
c. Record the December 31, 2020, adjusting entry for Kazazis.
d. If Kazazis’ 2020 net income without including the Aug. 1 sale or December 31 adjusting entry was $200,000, what is the correct 2020 net income? Ignore taxes.
e. What amounts related to the note will Kazazis report on its 2020 balance sheet?
f. Record the April 30, 2021, journal entry/entries for Kazazis. (You may choose to record 1 entry as we did in the example in class or 2 entries as required by Connect.)
In: Accounting