The comparative balance sheets for 2018 and 2017 and the
statement of income for 2018 are given below for Dux Company.
Additional information from Dux's accounting records is provided
also.
|
DUX COMPANY Comparative Balance Sheets December 31, 2018 and 2017 ($ in 000s) |
||||||||
| 2018 | 2017 | |||||||
| Assets | ||||||||
| Cash | $ | 102 | $ | 48 | ||||
| Accounts receivable | 53 | 67 | ||||||
| Less: Allowance for uncollectible accounts | (3 | ) | (2 | ) | ||||
| Dividends receivable | 5 | 4 | ||||||
| Inventory | 90 | 85 | ||||||
| Long-term investment | 52 | 46 | ||||||
| Land | 95 | 75 | ||||||
| Buildings and equipment | 202 | 220 | ||||||
| Less: Accumulated depreciation | (52 | ) | (90 | ) | ||||
| $ | 544 | $ | 453 | |||||
| Liabilities | ||||||||
| Accounts payable | $ | 37 | $ | 64 | ||||
| Salaries payable | 2 | 7 | ||||||
| Interest payable | 10 | 4 | ||||||
| Income tax payable | 10 | 11 | ||||||
| Notes payable | 20 | 0 | ||||||
| Bonds payable | 85 | 60 | ||||||
| Less: Discount on bonds | (3 | ) | (4 | ) | ||||
| Shareholders' Equity | ||||||||
| Common stock | 210 | 200 | ||||||
| Paid-in capital—excess of par | 24 | 20 | ||||||
| Retained earnings | 157 | 91 | ||||||
| Less: Treasury stock (at cost) | (8 | ) | 0 | |||||
| $ | 544 | $ | 453 | |||||
|
DUX COMPANY Income Statement For the Year Ended December 31, 2018 ($ in 000s) |
||||||
| Revenues | ||||||
| Sales revenue | $ | 380 | ||||
| Dividend revenue | 5 | $ | 385 | |||
| Expenses | ||||||
| Cost of goods sold | 210 | |||||
| Salaries expense | 34 | |||||
| Depreciation expense | 7 | |||||
| Bad debt expense | 1 | |||||
| Interest expense | 8 | |||||
| Loss on sale of building | 2 | |||||
| Income tax expense | 29 | 291 | ||||
| Net income | $ | 94 | ||||
Additional information from the accounting records:
A building that originally cost $60,000, and which was three-fourths depreciated, was sold for $13,000.
The common stock of Byrd Corporation was purchased for $6,000 as a long-term investment.
Property was acquired by issuing a 13%, seven-year, $20,000 note payable to the seller.
New equipment was purchased for $42,000 cash.
On January 1, 2018, bonds were sold at their $25,000 face value.
On January 19, Dux issued a 5% stock dividend (1,000 shares). The market price of the $10 par value common stock was $14 per share at that time.
Cash dividends of $14,000 were paid to shareholders.
On November 12, 1,000 shares of common stock were repurchased as treasury stock at a cost of $8,000.
Required:
Prepare the statement of cash flows of Dux Company for the year
ended December 31, 2018. Present cash flows from operating
activities by the direct method. (Do not round your
intermediate calculations. Enter your answers in thousands (i.e.,
5,000 should be entered as 5). Amounts to be deducted should be
indicated with a minus sign.)
In: Accounting
The comparative balance sheets for 2018 and 2017 and the statement
of income for 2018 are given below for Dux Company. Additional
information from Dux’s accounting records is provided also.
| DUX COMPANY Comparative Balance Sheets December 31, 2018 and 2017 ($ in 000s) |
||||||||
| 2018 | 2017 | |||||||
| Assets | ||||||||
| Cash | $ | 52 | $ | 25 | ||||
| Accounts receivable | 42 | 55 | ||||||
| Less: Allowance for uncollectible accounts | (4 | ) | (3 | ) | ||||
| Dividends receivable | 4 | 3 | ||||||
| Inventory | 75 | 70 | ||||||
| Long-term investment | 22 | 20 | ||||||
| Land | 85 | 65 | ||||||
| Buildings and equipment | 180 | 200 | ||||||
| Less: Accumulated depreciation | (18 | ) | (40 | ) | ||||
| $ | 438 | $ | 395 | |||||
| Liabilities | ||||||||
| Accounts payable | $ | 11 | $ | 13 | ||||
| Salaries payable | 4 | 8 | ||||||
| Interest payable | 6 | 3 | ||||||
| Income tax payable | 9 | 10 | ||||||
| Notes payable | 20 | 0 | ||||||
| Bonds payable | 120 | 95 | ||||||
| Less: Discount on bonds | (5 | ) | (6 | ) | ||||
| Shareholders' Equity | ||||||||
| Common stock | 210 | 200 | ||||||
| Paid-in capital—excess of par | 24 | 20 | ||||||
| Retained earnings | 47 | 52 | ||||||
| Less: Treasury stock (at cost) | (9 | ) | 0 | |||||
| $ | 438 | $ | 395 | |||||
| DUX COMPANY Income Statement For the Year Ended December 31, 2018 ($ in 000s) |
||||||
| Revenues | ||||||
| Sales revenue | $ | 250 | ||||
| Dividend revenue | 4 | $ | 254 | |||
| Expenses | ||||||
| Cost of goods sold | $ | 145 | ||||
| Salaries expense | 35 | |||||
| Depreciation expense | 8 | |||||
| Bad debt expense | 1 | |||||
| Interest expense | 10 | |||||
| Loss on sale of building | 4 | |||||
| Income tax expense | $ | 28 | 231 | |||
| Net income | $ | 23 | ||||
Additional information from the accounting records:
Required:
Prepare the T-accounts for Dux Company.
In: Accounting
The comparative balance sheets for 2018 and 2017 and the statement of income for 2018 are given below for Dux Company. Additional information from Dux’s accounting records is provided also. DUX COMPANY Comparative Balance Sheets December 31, 2018 and 2017 ($ in 000s) 2018 2017 Assets Cash $ 37 $ 22 Accounts receivable 46 51 Less: Allowance for uncollectible accounts (4 ) (3 ) Dividends receivable 6 5 Inventory 59 52 Long-term investment 19 12 Land 74 42 Buildings and equipment 223 254 Less: Accumulated depreciation (27 ) (54 ) $ 433 $ 381 Liabilities Accounts payable $ 15 $ 24 Salaries payable 6 8 Interest payable 8 6 Income tax payable 9 11 Notes payable 32 0 Bonds payable 99 72 Less: Discount on bonds (4 ) (7 ) Shareholders' Equity Common stock 212 202 Paid-in capital—excess of par 23 22 Retained earnings 43 43 Less: Treasury stock (10 ) 0 $ 433 $ 381 DUX COMPANY Income Statement For Year Ended December 31, 2018 ($ in 000s) Revenues Sales revenue $ 217 Dividend revenue 5 $ 222 Expenses Cost of goods sold 122 Salaries expense 27 Depreciation expense 9 Bad debt expense 1 Interest expense 10 Loss on sale of building 7 Income tax expense 19 195 Net income $ 27 Additional information from the accounting records: A building that originally cost $48,000, and which was three-fourths depreciated, was sold for $5,000. The common stock of Byrd Corporation was purchased for $7,000 as a long-term investment. Property was acquired by issuing a 12%, seven-year, $32,000 note payable to the seller. New equipment was purchased for $17,000 cash. On January 1, 2018, bonds were sold at their $27,000 face value. On January 19, Dux issued a 4% stock dividend (1,000 shares). The market price of the $10 par value common stock was $11 per share at that time. Cash dividends of $16,000 were paid to shareholders. On November 20,000 shares of common stock were repurchased as treasury stock at a cost of $10,000. Required: Prepare the statement of cash flows for Dux Company using the indirect method. (Do not round intermediate calculations. Amounts to be deducted should be indicated with a minus sign. Enter your answers in thousands. (i.e., 10,000 should be entered as 10).))
In: Accounting
The comparative balance sheets for 2018 and 2017 and the
statement of income for 2018 are given below for Dux Company.
Additional information from Dux's accounting records is provided
also.
| DUX COMPANY Comparative Balance Sheets December 31, 2018 and 2017 ($ in 000s) |
||||||||
| 2018 | 2017 | |||||||
| Assets | ||||||||
| Cash | $ | 33 | $ | 20 | ||||
| Accounts receivable | 48 | 50 | ||||||
| Less: Allowance for uncollectible accounts | (4 | ) | (3 | ) | ||||
| Dividends receivable | 3 | 2 | ||||||
| Inventory | 55 | 50 | ||||||
| Long-term investment | 15 | 10 | ||||||
| Land | 70 | 40 | ||||||
| Buildings and equipment | 225 | 250 | ||||||
| Less: Accumulated depreciation | (25 | ) | (50 | ) | ||||
| $ | 420 | $ | 369 | |||||
| Liabilities | ||||||||
| Accounts payable | $ | 13 | $ | 20 | ||||
| Salaries payable | 2 | 5 | ||||||
| Interest payable | 4 | 2 | ||||||
| Income tax payable | 7 | 8 | ||||||
| Notes payable | 30 | 0 | ||||||
| Bonds payable | 95 | 70 | ||||||
| Less: Discount on bonds | (2 | ) | (3 | ) | ||||
| Shareholders' Equity | ||||||||
| Common stock | 210 | 200 | ||||||
| Paid-in capital—excess of par | 24 | 20 | ||||||
| Retained earnings | 45 | 47 | ||||||
| Less: Treasury stock | (8 | ) | 0 | |||||
| $ | 420 | $ | 369 | |||||
| DUX COMPANY Income Statement For the Year Ended December 31, 2018 ($ in 000s) |
||||||
| Revenues | ||||||
| Sales revenue | $ | 200 | ||||
| Dividend revenue | 3 | $ | 203 | |||
| Expenses | ||||||
| Cost of goods sold | 120 | |||||
| Salaries expense | 25 | |||||
| Depreciation expense | 5 | |||||
| Bad debt expense | 1 | |||||
| Interest expense | 8 | |||||
| Loss on sale of building | 3 | |||||
| Income tax expense | 16 | 178 | ||||
| Net income | $ | 25 | ||||
Additional information from the accounting records:
Required:
Prepare the statement of cash flows for Dux Company using the
indirect method. (Do not round intermediate
calculations. Amounts to be deducted should be indicated with a
minus sign. Enter your answers in thousands. (i.e., 10,000 should
be entered as 10).)
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
In: Accounting
The comparative balance sheets for 2018 and 2017 and the
statement of income for 2018 are given below for Dux Company.
Additional information from Dux’s accounting records is provided
also.
| DUX COMPANY Comparative Balance Sheets December 31, 2018 and 2017 ($ in 000s) |
||||||||
| 2018 | 2017 | |||||||
| Assets | ||||||||
| Cash | $ | 71 | $ | 39 | ||||
| Accounts receivable | 63 | 85 | ||||||
| Less: Allowance for uncollectible accounts | (4 | ) | (3 | ) | ||||
| Dividends receivable | 5 | 3 | ||||||
| Inventory | 93 | 69 | ||||||
| Long-term investment | 53 | 29 | ||||||
| Land | 149 | 75 | ||||||
| Buildings and equipment | 206 | 288 | ||||||
| Less: Accumulated depreciation | (44 | ) | (88 | ) | ||||
| $ | 592 | $ | 497 | |||||
| Liabilities | ||||||||
| Accounts payable | $ | 32 | $ | 58 | ||||
| Salaries payable | 5 | 8 | ||||||
| Interest payable | 7 | 5 | ||||||
| Income tax payable | 26 | 30 | ||||||
| Notes payable | 74 | 0 | ||||||
| Bonds payable | 133 | 89 | ||||||
| Less: Discount on bonds | (21 | ) | (41 | ) | ||||
| Shareholders' Equity | ||||||||
| Common stock | 229 | 219 | ||||||
| Paid-in capital—excess of par | 42 | 39 | ||||||
| Retained earnings | 92 | 90 | ||||||
| Less: Treasury stock | (27 | ) | 0 | |||||
| $ | 592 | $ | 497 | |||||
| DUX COMPANY Income Statement For Year Ended December 31, 2018 ($ in 000s) |
||||||
| Revenues | ||||||
| Sales revenue | $ | 370 | ||||
| Dividend revenue | 8 | $ | 378 | |||
| Expenses | ||||||
| Cost of goods sold | 139 | |||||
| Salaries expense | 44 | |||||
| Depreciation expense | 43 | |||||
| Bad debt expense | 1 | |||||
| Interest expense | 27 | |||||
| Loss on sale of building | 5 | |||||
| Income tax expense | 36 | 295 | ||||
| Net income | $ | 83 | ||||
Additional information from the accounting records:
Required:
Prepare the statement of cash flows for Dux Company using the
indirect method. (Do not round intermediate
calculations. Amounts to be deducted should be indicated with a
minus sign. Enter your answers in thousands. (i.e., 10,000 should
be entered as 10).))
|
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In: Accounting
In: Finance
Lysterfield Ltd has various non-current assets, including buildings and machinery. Both assets are being depreciated using the straight-line method.
The buildings were purchased on 1 July 2016, with an anticipated residual value of $200,000 and an expected useful life of 16 years. The Buildings are being recorded under the revaluation model.
The machinery was purchased on 1 July 2015, with an anticipated residual value of $30,000 and an expected useful life of 8 years. The machinery is being recorded under the cost model.
An extract of the balance sheet at 1 July 2018 is provided below:
Non-current Assets
|
Buildings |
1,800,000 |
|
Accumulated Depreciation |
(200,000) |
|
1,600,000 |
|
|
Machinery |
750,000 |
|
Accumulated Depreciation |
(270,000) |
|
480,000 |
Information relating to the assets at 30 June 2019 is:
|
Fair Value |
Value in Use |
Cost to Sell |
|
|
Buildings |
1,331,000 |
1,330,000 |
5,000 |
|
Machinery |
400,000 |
403,000 |
2,000 |
Remaining useful life of Buildings at 1 July 2019 is 13 years.
Remaining useful life of Machinery at 1 July 2019 is 4 years.
Information relating to the assets at 30 June 2020 is:
|
Fair Value |
Value in Use |
Cost to Sell |
|
|
Buildings |
1,415,000 |
1,412,000 |
5,000 |
|
Machinery |
260,000 |
255,000 |
2,000 |
Required:
(a) Prepare the general journal entries for the year ended 30 June 2019. Justify your answer and show all workings.
(b) Prepare the general journal entries for the year ended 30 June 2020. Justify your answer and show all workings.
*Please upload the solution as soon as you can finish it. Thanks for your help
In: Accounting
Because the definition of a specified service business is not clear, you have been asked to write a memo describing the tax effects of treating this business as a service business or as a non-service business.
Facts:
1. Because the definition of a specified service business is not clear, you have been asked to write a memo describing the tax effects of treating this business as a service business or as a non-service business.
2. The deduction may be limited where the taxpayer’s taxable income exceeds a threshold amount. If the business is a specified service business there is a separate limit, in which the parameters used to compute the deduction (QBI. W-2 wages, unadjusted basis of property) are first reduced by the “applicable percentage.”
3. Your client (make up a name) is a fairly well-known author of self-help books. He is married and files a joint tax return. In addition to writing, he is booked for programs in which he presents a 2-hour summary of the many lessons in his books. The sessions are called “The Nine Key Methods of Changing Your Life.” In 2018 (assume the year has ended), his only activity is presenting these sessions.
The following facts are available:
Taxable Income from all sources $375,000
Net capital gain income (included in taxable income) $ 45,000
Qualified Business Income (included in taxable income) $220,000
W-2 wages Paid to Administrative Assistant $ 40,000
Unadjusted basis of property used in the business $ 15,000
In: Accounting
Write a program in c++ that maintains a telephone directory. The Telephone directory keeps records of people’s names and the corresponding phone numbers.
The program should read a transaction file and report the result into an output file. The transaction file can include commands such as “Add”, “Delete”, “Display”, and “Update”, and “Search”. Each command is written in one line with a few other information.
The “Display” Command should simply display everyone in the directory on the screen
The “Add” command comes with 3 other information that includes “First Name”, “Last Name”, and “Phone Number”. You should only add this command if the phone number is unique and it is not assigned to any other person. Otherwise an error statement should be generated to indicate that “Duplicate phone number is not allowed”. If the addition of the record is successful, you need to report that in the output file as follows:
“First Name”, “Last Name”, “Phone Number” has been successfully added to the directory
If the addition fails, you should report that
“**** ERROR IN ADD **** “Phone Number” already exist in the directory
The “Delete” command comes with the “Phone Number” indicating that this record should be deleted from the directory. You should only delete the record if you can find the phone number. If you could remove the record from the directory, you should report:
“First Name”, “Last Name”, “Phone Number” has been successfully deleted from the directory
If the delete fails, you should report that
“**** ERROR IN DELETE **** “Phone Number” does exist in the directory
The “Update” command come with two values, “Phone Number” and “New Phone Number”. You program should first search for “Phone Number” and find out if such a phone number exist in the directory. If it does not find it, it should report:
“**** ERROR IN UPDATE **** The Phone Number does not exist in the directory
However, if it finds the phone number, there are two cases. If the “New Phone Number” already exists in the directory, it should report
“**** ERROR IN UPDATE **** The New Phone Number “New Phone Number” already exist in the directory.
If the “New Phone Number” does not exist in the directory, your program should replace the “Old Phone Number” with the “New Phone Number” and report
The Phone Number “Old Phone Number” is successfully updated to “New Phone Number”
There are two types of “Search” commands. One is done based on the last name and another is done based on the phone number. If it is done based on the last name, the search command can be as follows:
Search BasedOnLastName “LastName”
In this case the search is done based on the last name. Your program should search for all records with that last name and report them on the screen. If the search fails your report should have the following format
“**** ERROR IN SEARCH **** No Record with the last name “Last Name” could be found”
If the search is done based on the phone number, the command should be
Search BasedOnPhoneNumber “PhoneNumber”
In this case the search is done based on the Phone Number. Your program should search for the specific record with that phone number and if it finds it, it should report it
FirstName LastName PhoneNumber is found
on the screen; otherwise, it should display
“**** ERROR IN SEARCH ****: No Record with the phone number “Phone Number” Exist
You are required to create a vector with class called PhoneRecords.
class PhoneRecords
{
Public:
string Fname;
string Lname;
string PhoneNumber;
};
Every time a record is added it should be added to vector. You can simply use the “push_back” operation to add it to the end of the vector. Use the following Transaction file to do run your work.
Add Joe Garcia 858-343-2009
Add Amelia Perez 617-255-0987
Add Bob Haynes 858-765-1122
Add Tim Ducrest 760-877-1654
Add Kevin Garcia 760-543-5622
Add Suzy Walter 858-190-2307
Add Fang Yi 619-677-1212
Add Robert James 619-909-3476
Add Mary Palmer 760-435-2086
Delete 760-888-1237
Delete 760-877-1654
Add Kevin Garcia 760-543-5622
Add Robert James 619-909-3476
Search BasedOnLastName Garcia
Search BasedOnLastName Wong
Search BasedOnPhoneNumber 760-977-2654
Search BasedOnPhoneNumber 858-190-2307
Update 858-343-2119 760-877-1654
Update 617-255-0987 760-435-2086
Update 858-765-1122 800-134-2765
Display
Your output file should look like as follows:
(Joe Garcia 858-343-2009) has been successfully added to the directory
(Amelia Perez 617-255-0987) has been successfully added to the directory
(Bob Haynes 858-765-1122) has been successfully added to the directory
(Tim Ducrest 760-877-1654) has been successfully added to the directory
(Kevin Garcia 760-543-5622) has been successfully added to the directory
(Suzy Walter 858-190-2307) has been successfully added to the directory
(Fang Yi 619-677-1212) has been successfully added to the directory
(Robert James 619-909-3476) has been successfully added to the directory
(Mary Palmer 760-435-2086) has been successfully added to the directory
**** ERROR IN DELETE **** “760-888-1237” does not exist in the directory
(Tim Ducrest 760-877-1654) has been successfully deleted from the directory
**** ERROR IN ADD **** “760-543-5622” already exist in the directory
Joe Garcia 858-343-2009
Kevin Garcia 760-543-5622
**** ERROR IN SEARCH **** No Record with the last name “Wong” could be found
“**** ERROR IN SEARCH ****: No Record with the phone number “760-977-2654” Exist
(Suzy Walter 858-190-2307) is found
**** ERROR IN UPDATE **** The Phone Number 858-343-2119 does exist in the directory
“**** ERROR IN UPDATE **** The New Phone Number “760-435-2086” already exist in the directory
The Phone Number “858-765-1122” is successfully updated to “800-134-2765”
Joe Garcia 858-343-2009
Amelia Perez 617-255-0987
Bob Haynes 800-134-2765
Kevin Garcia 760-543-5622
Suzy Walter 858-190-2307
Fang Yi 619-677-1212
Robert James 619-909-3476
Mary Palmer 760-435-2086
Kevin Garcia 760-543-5622
Robert James 619-909-3476
Place the result into a file called “Output.txt”.
//-----------------------please use the following outline to complete program, show output at the end to make sure program works-----------------------------
#include
#include
#include
#include
using namespace std;
class phoneRecords
{
private:
string firstName;
string lastName;
string phoneNumber;
public:
phoneRecords();
{
firstName = lastName = phoneNumber = " ";
}
phoneRecords(string Fn, string Ln, string Phone);
{
firstName = Fn;
lastName = Ln;
phoneNumber = Phone;
}
};
class TelephoneDirectory
{
private:
ifstream fin;
vector phones;
bool success;
bool failure;
public:
TelephoneDirectory();
{
success = true;
failure = false;
};
bool AddAphone(string firstName,string lastName,string phoneNumber);
bool Remove(string phoneNumber);
bool Update(string oldPhone,string newPhone);
bool SearchBasedOnLastName(string lastName);
bool SearchBasedOnPhoneNumber(string phoneNumber);
bool DisplayRecords();
bool InvokeTransFile();
//--------------------------------------------------------------------
bool TelephoneDirectory::AddAphone(string firstName,string lastName,string phoneNumber)
{
bool status = SearchBasedOnPhoneNumber(phoneNumber);
if(status == false)
{
cout << **ERROR** << endl;
return false;
}
phoneRecords newPerson(Fn, Ln, Phone);
phones.push_back(newPerson);
return success;
}
//--------------------------------------------------------------------
bool TelephoneDirectory::Remove(string phoneNumber)
{
return success;
}
//--------------------------------------------------------------------
bool TelephoneDirectory::Update(string oldPhone,string newPhone)
{
return success;
}
//--------------------------------------------------------------------
bool TelephoneDirectory::SearchBasedOnLastName(string lastName)
{
return success;
}
//--------------------------------------------------------------------
bool TelephoneDirectory::SearchBasedOnPhoneNumber(string phoneNumber)
{
}
//--------------------------------------------------------------------
bool TelephoneDirectory::DisplayRecords()
{
return success;
}
//--------------------------------------------------------------------
bool TelephoneDirectory::InvokeTransFile()
{
return success;
}
//--------------------------------------------------------------------
int main()
{
TelephoneDirectory SanMarcosPhone;
SanMarcosPhone.InvokeTransFile();
return 0;
}
In: Computer Science
A single, non-disjunction event involving chromosome 1a occurs during cell division. Describe how this event would affect the chromosomal complement of the specified cells in the following situations:
a) Daughter cells if non-disjunction occurs during Mitosis.
b) Gametes if non-disjunction occurs during Meiosis I.
c) Gametes if non-disjunction occurs during Meiosis II.
In: Biology