Amber Company produces iron table and chair sets. During October, Amber’s costs were as follows:

Required:
a. Calculate the total cost of purchases for October.



b. Compute the direct materials price variance based on quantity purchased. (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable.)



c. Calculate the direct materials quantity variance based on quantity used. (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable.)



d. Compute the standard direct labor rate for October. (Round your answer to 2 decimal places.)



e. Compute the direct labor efficiency variance for October. (Round your intermediate calculation to 2 decimal places. Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable.)

1. Thunder Buddies Inc., a talking teddy bear manufacturer, needs your assistance in reconciling its bank. The company’s books show a cash balance of $1,207.95 on October 31 while the October bank statement shows an ending balance of $1,735.53. An examination of the company’s records and the bank statement provide you with the following information.
   1. A deposit of $133.00 made on October 31 does not appear on the bank statement.
   2. Checks written in October but not included on the October bank statement totaled $595.59.
   3. Bank shows a $140.00 note receivable collected from TED, a customer, on October 30^th.
   4. Bank shows $7.81 of dividend income wired from the McFarlane investment account.
   5. Bank charged your firm $6.25 for service fees.
   6. Bank returned one of your customer’s checks (Sam J. Jones) for $64.07 stamped “NSF” and charged us a fee of $17.50 for the inconvenience.
   7. You discover that you recorded check #7322 as $311 when it was really for $131 in payment of an accounts payable.
   8. You discover that the bank incorrectly charged your account for $175 for a different company’s check (Flash Gordon Enterprises).

Please prepare the bank reconciliation and record all required adjusting journal entries. Please label your bank reconciliation amounts for ease of grading.

La Famiglia Pizzeria provided the following information for the month of October:
a. Sales are budgeted to be $157,000. About 85% of sales is cash; the remainder is on account.
b. La Famiglia expects that, on average, 70% of credit sales will be paid in the month of sale, and 28% will be paid in the following month.
c. Food and supplies purchases, all on account, are expected to be $116,000. La Famiglia pays 25% in the month of purchase and 75% in the month following purchase.
d. Most of the work is done by the owners, who typically withdraw $6,000 a month from the business as their salary. (Note: The $6,000 is a payment in total to the two owners, not per person.) Various part-time workers cost $7,300 per month. They are paid for their work weekly, so on average 90% of their wages are paid in the month incurred and the remaining 10% in the next month.
e. Utilities average $5,950 per month. Rent on the building is $4,100 per month.
f. Insurance is paid quarterly; the next payment of $1,200 is due in October.
g. September sales were $181,500 and purchases of food and supplies in September equaled $130,000.
h. The cash balance on October 1 is $2,147.
Required:
1. Calculate the cash receipts expected in October.
2. Calculate the cash needed in October to pay for food purchases.
3. Prepare a cash budget for the month of October.

Is this correct? IF not, please indicate where. Also, if I have left out any calculations explaining, please add... Thank you.

Societies have different forms of co-insurance. In your home country what are the most common methods of co-insurance? Is co-insurance extensive?

Gaber Co. lends Ameer Co. $40,000 on June 1, accepting a four-month, 6% interest note.

If Gaber Wolder presents the note to Ameer Co. on Oct. 1, the maturity date, and receive the amount.

Prepare the journal entries

Question 4:

On June 1, Naser Co. lent Yazan Co. $60,000, and accept a two-month, 5% interest note.

On Aug. 1, the maturity date, Naser Wolder presented the note to Yazan Co. but Yazan refused to pay the amount.

Prepare the journal entries

Amoril Co. currently has 3,000 shares outstanding each sold for $150, whereas, Poter Inc. has 1,500 shares outstanding each sold for $100. The earnings per share for Amoril Co. and Poter Inc. is S12 per share. Amoril Co. decides to acquire Poter Inc. by offering one new share of Amoril Co. for every three shares of Poter Inc. Assume that there is no economic gain from the merger.

1- what is the earning per share for amoril co. after merger ?

2- what is the price earnings ratio of amoril co. after the merger ?

Q1. Omar Co. is an accounting firm that provide accounting consultancy services. The following transactions took place in Omar Co.: amounts in Saudi riyal a. In the 1st of January, Abdul-Aziz invested 6,000,000 in Omar Co. and he paid them in cash. b. In the 2nd of Jan, Omar Co. have purchased office equipment and paid 48,800 cash. c. In the 3rd of Jan, Omar Co. have purchased supplies on credit by 18,500. d. In the 25th of Jan, Omar Co. provided accounting services to Ahmed and collected 19,010. Required: Journalize those transactions and post them to T account?

On December 31, 2018, Tube Associates owned the following securities, held as a long-term investment. The securities are not held for influence or control of the investee.

Common Stock       Shares                        Cost

A Co.                        2,000                         $40,000

B Co.                        5,000                         $50,000

C Co.                        1,500                         $45,000

On December 31, 2019, the total fair value of the securities was equal to its cost. In 2019, the following transactions occurred.

Aug.1: Received $1.50 per share cash dividend on A. Co. common stock.

Sept. 1: Sold 2,000 shares of B. Co. common stock for cash at $18 per share.

Oct. 1: Sold 500 shares of A. Co. common stock for cash at $25 per share.

Nov. 1: Received $1 per share cash dividend on C. Co. common stock.

Dec. 15: Received $1.25 per share cash dividend on A Co. common stock.

        31: Received $1 per share annual cash dividend on B Co. common stock.

At December 31, the fair values per share of the common stocks were: A. Co. $25, B. Co. $12, and C. Co. $25.

Instructions

(a) Journalize the 2019 transactions and post to the account Stock Investments.

(b) Prepare the adjusting entry at December 31, 2019, to show the securities at fair value. The stock should be classified as available-for-sale securities.

(c) Show the balance sheet presentation of the investments at December 31, 2019.