Infometrix Inc. completed its fourth year of operations on December 31, 2010. A student working in the company’s office on a part-time basis assembled the following list of accounts and their related balances. The accounts are not arranged in any particular order.
|
Account Title |
Balance |
Account Title |
Balance |
|
Cost of goods sold |
$590,000 |
Accounts receivables |
$150,000 |
|
Inventory |
140,000 |
Cash |
54,000 |
|
Equipment |
200,000 |
Building |
320,000 |
|
Accumulated depreciation – equipment |
20,000 |
Accounts payables |
68,600 |
|
Retained earnings, January 1, 2010 |
177,000 |
Unearned rent revenue |
6,000 |
|
Accumulated depreciation – building |
40,000 |
Salaries expense |
120,000 |
|
Note payable |
30,000 |
Note receivable |
30,000 |
|
Sales revenue |
983,000 |
Share capital (10,000 shares) |
570,000 |
|
Interest expense |
2,400 |
Land |
160,000 |
|
Advertising expense |
76,000 |
Dividends |
12,000 |
|
Insurance expense |
6,300 |
Office supplies inventory |
8,900 |
Each of the account balances above has a "normal" balance, as the term is defined in the textbook. The following additional information was not taken into consideration in determining the account balances:
The amount shown as insurance expense includes $900 for coverage during the first two months of 2011.
The note receivable was received on September 1, 2010 and carries an interest rate of 10 percent per year. Interest on the note will be received by the company when the note becomes due on February 28, 2011.
The building is depreciated over 40 years on a straight-line basis with no salvage value. Depreciation on the equipment was determined to be $10,000 per year.
Additional dividends of $50,000 were declared in December 2010, but will not be paid until January 2011.
The cost of office supplies still on hand at December 31, 2010 is $600.
The company rented surplus space in its building to a tenant on November 1, 2010 for $1,000 per month, payable in advance for six months. The entire amount received was credited to Unearned rent revenue.
Employees earned $3,000 of salaries in December 2010 that will be paid on the first pay day in January 2011.
The company is subject to an income tax rate of 30 percent. Income taxes for the year 2010 will be paid on March 15, 2011.
Required (show all calculations):
Prepare the necessary adjusting journal entries as at December 31, 2010 for events (a) to (h) above. You may wish to complete requirement 2 (below) before recording the journal entry for item (h). Please skip a line between journal entries, and omit narrative explanations. Set up new accounts if needed.
Prepare, in proper form, a "multi-step" income statement for Infometrix Inc. for the year ended December 31, 2010.
Prepare in proper form the Assets section of a classified statement of financial position for Infometrix Inc. as at December 31, 2010. A complete statement of financial position is not required.
Question 5: Broadway Limited had an $800 credit balance in Allowance for Doubtful Accounts at December 31, 2018, before the current year's provision for uncollectible accounts. An aging of the accounts receivable revealed the following:
Estimated Percentage
Uncollectible
Current Accounts....................................... $150,000 1%
1-30 days past due..................................... 15,000 3%
31-60 days past due................................... 8,000 6%
61-90 days past due................................... 5,000 12%
Over 90 days past due................................ 6,000 30%
Total Accounts Receivable........................ $184,000
Instructions
(a) Prepare the adjusting entry at December 31, 2018, to recognize bad debts expense.
(b) Assume the same facts as above except that the Allowance for Doubtful Accounts account had an $800 debit balance before the current year's provision for uncollectible accounts. Prepare the adjusting entry for the current year's bad debts.
In: Accounting
Give examples of current collective bargaining trends (e.g., what’s the state of the economy and how does that affect bargaining).
In: Economics
What is collective bargaining, and why is it valuable to employees? What is the difference between a monopoly and a monopsony? Give an example of each.
In: Economics
Collective bargaining not in the good faith
What is surface bargaining? How is it impact to employee behavior? Provide solution to improve.
In: Operations Management
What is collective bargaining, and why is it valuable to employees? What is the difference between a monopoly and a monopsony? Give an example of each.
In: Economics
What is meant by labor relations and what does it entail?
What does collective bargaining entail?
Is it advantageous in an organization or not?
In: Economics
Write a Java Program to place a pizza ordering program. It creates a pizza ordered to the specifications that the user desires. It walks the user through ordering, giving the user choices, which the program then uses to decide how to make the pizza and how much the cost of the pizza will be. Note: Use dialog boxes for communicating with the user. Remember to use the JOptionPane class which is the graphical user interface (GUI) and Comments that are not read by the computer, they are for use by the programmer. They are to help a programmer document what the program does and how it accomplishes it. This is important when a programmer needs to modify code that is written by another person.
Task 1. Name the program, PizzaOrder.java ( Ask the customer the following Question using the message box then the summary of the order should show up in the console )
2. Write a welcome message that said, “Welcome to ___________________ Pizza.”
3. Ask the user to input his or her first name. “Enter your first name:”
4. A menu should display to the user: Pizza sizes (inches) Cost 10” $10.99 12” $12.99 14” $14.99 16” $16.99 What size pizza would you like? 10, 12, 14, or 16 (enter the number only):
5. After the user has inputted the number another print statement should ask “What type of crust do you want? (H)Hand-tossed, (T) Thin-crust, or (D) Deepdish (enter H, T, or D):”
6. After the user has inputted the type of crust another print statement asking All pizzas come with cheese. Additional toppings are $1.25 each, choose from: Pepperoni, Sausage, Onion, Mushroom Do you want Pepperoni? (Y/N):
7. After you inputted Yes, or No another question should pop up Do you want Sausage? (Y/N): then Do you want Onion? (Y/N): then Do you want Mushroom? (Y/N):
8. At the end, it should show a receipt depending on the input: Note: The sales tax is 8.875% (below is an example) Your order is as follows:
10-inch Pizza
Hand-tossed crust $ 10.99
Pepperoni $ 1.25
The subtotal cost of your order is: $ 12.24
The tax is: $ 1.09 ----------------
total is: $ 13.33
*Your order will be ready for pick up in 30 minutes*
In: Computer Science
In 2016, a panel of judges from PBS Nightly Business Report and Forbes’ Wharton College was commissioned to make a list of top 30 technological inventions that have shaped the world and dramatically impacted the 21st century. After reviewing 1200 submissions, and developing a strict definition of the innovation, the list was created, with surprisingly enough, genome mapping taking only the fifth place, the first four belonging to the digital technology.
The list is as follows, in order of importance:
1. Internet, broadband, www (browser and html)
2. PC/laptop computers
3. Mobile phones
4. E-mail
5. DNA testing and sequencing/human genome mapping
6. Magnetic Resonance Imaging (MRI)
7. Microprocessors
8. Fiber optics
9. Office software (spreadsheets, word processors)
10. Non-invasive laser/robotic surgery (laparoscopy)
11. Open-source software and services (e.g., Linux, Wikipedia)
12. Light-emitting diodes
13. Liquid crystal display (LCD)
14. GPS systems
15. Online shopping/e-commerce/auctions (e.g., eBay)
16. Media file compression (jpeg, mpeg, mp3)
17. Microfinance
18. Photovoltaic solar energy
19. Large- scale wind turbines
20. Social networking via the Internet
21. Graphic user interface (GUI)
22. Digital photography/videography
23. RFID and applications (e.g., EZ Pass)
24. Genetically modified plants
25. Bio fuels
26. Bar codes and scanners
27. ATMs
28. Stents
29. SRAM flash memory
30. Anti-retroviral treatment for AIDS https://www.forbes.com/2009/02/19/innovation-internet-health-entrepreneurs-technology_wharton.html Unit 3 Discussion Board (Due by Wednesday)
Select 3 technological advances from the list and explain the impact that each has had on both individual and collective reality. For each of the technological advances, address both potential positive and negative impacts. Provide one resource in APA format that you think might be applicable in regards to the use of each technology that you discuss. Explain why this site/resource is valuable. This topic is valued at 40 points. Please review post and response expectations. Please review the rubric to ensure that your response meets criteria. Estimated time to complete: Research, Writing, Posting- 3 hours
In: Psychology
A firm wanted to know if the cost of acquiring a new customer had decreased after adopting a new marketing campaign. Which statistical test should you run? A.Independent-samples t-test B.ANOVA C.One-sample t-test D.Paired-samples t-test
| Before or After | customer cost |
| before | $ 15.04 |
| before | $ 20.41 |
| before | $ 8.84 |
| before | $ 17.54 |
| before | $ 7.30 |
| before | $ 12.69 |
| before | $ 13.32 |
| before | $ 10.51 |
| before | $ 15.85 |
| before | $ 12.15 |
| before | $ 12.64 |
| before | $ 6.75 |
| before | $ 13.57 |
| before | $ 10.17 |
| before | $ 22.91 |
| before | $ 18.48 |
| before | $ 15.06 |
| before | $ 11.23 |
| before | $ 8.38 |
| before | $ 12.80 |
| before | $ 19.57 |
| before | $ 7.88 |
| before | $ 8.43 |
| before | $ 7.13 |
| before | $ 13.42 |
| before | $ 10.03 |
| before | $ 16.10 |
| before | $ 14.17 |
| before | $ 8.06 |
| before | $ 11.28 |
| after | $ 20.14 |
| after | $ 14.85 |
| after | $ 24.50 |
| after | $ 23.68 |
| after | $ 16.28 |
| after | $ 23.10 |
| after | $ 20.74 |
| after | $ 9.81 |
| after | $ 7.04 |
| after | $ 27.26 |
| after | $ 14.64 |
| after | $ 16.93 |
| after | $ 24.40 |
| after | $ 19.66 |
| after | $ 25.29 |
| after | $ 27.99 |
| after | $ 25.70 |
| after | $ 19.48 |
| after | $ 23.06 |
| after | $ 21.43 |
| after | $ 17.74 |
| after | $ 21.43 |
| after | $ 18.01 |
| after | $ 19.19 |
| after | $ 17.05 |
| after | $ 15.36 |
| after | $ 13.19 |
| after | $ 31.47 |
| after | $ 21.00 |
| after | $ 4.72 |
In: Statistics and Probability
Define the advantages of Protection and Diffusion in Protecting Innovation inStrategies of Innovation.
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