ABC Ltd., has been facing cash shortage problem for many years. You have just joined the company and made the proposal to prepare cash budget for controlling of cash shortage problem. Management has given you the green signal to prepare the cash budget and made the projection for requirement of cash through commercial bank channel in the coming period. The following information were gathered for preparing the cash budget.

1. Sales budgets

November, 2019…………………………. Rs.200,000

December, 2019……………………………    300,000

January, 2020……………………………..     400,000

            February, 2020……………………………     500,000

            March, 2020………………………………..    600,000

All sales are made on credit basis and customers follow the following patter to pay;

1. 40 % pay in the month of sales.
2. 50 % in the following month of sales.
3. 10 % pay in the second month of sales.

1. Purchase budgets

1. Purchases are made equal to 60 % of the respective month sales at beginning of the month. 50% of purchase amount is paid in the month of purchases and 50% in the following month of purchases
2. Cash operating expenses per month is estimated Rs.80,000.
3. Dividend is expected to be paid Rs.100,000 in the month of January, 2020.
4. Tax is to be paid Rs.50,000 in the month of march, 2020.
5. A new plant costing Rs. 250,000 to be purchased in the month of Feb.,2020.
6. Cash on hand on 1^st January, 2020 is Rs.100,000.
7. A minimum cash balance of Rs.150,000 to be maintained from 31^st January,2020 on ward, company has made arrangement with the local bank a line of credit to meet its cash requirement and if excess cash available it would be paid to bank to pay the loan.

Required: Prepare a cash budget for the month of January, February, March, 2020.

Required: Prepare journal entries for each of the following transactions under the Perpetual Inventory method—include recording date and all required revenue, expense and balance sheet accounts. The Widget Company sells only one product (widgets) and uses FIFO. December 31, 2019 inventory is as follows:

Date purchased	Quantity	Unit cost
December 5, 2019	1,500	$5.34
December 20, 2019	700	$5.48
December 28, 2019	500	$5.40

1. January 2, 2020: Received 1,000 widgets with a unit cost of $6.00. The units were shipped from the supplier on December 29, 2019 FOB shipping point. The widgets were not included in the December 31, 2019 inventory. Payment terms are 2/10, net 30. The company uses the Net Method for recording payment discounts.
2. January 5, 2020: Sold 3,000 widgets for $11.00 each and shipped FOB shipping point. Payment terms are 1/10, net 30. The company uses the Gross Method for recording sales discounts.
3. January 6, 2020: Paid in full for the 1,000 widgets received on January 2, 2020.
4. January 10, 2020: Customer returned 200 of the widgets sold and shipped on January 5, 2020. All items were in excellent condition and returned to inventory.
5. January 15, 2020: Received 2,500 widgets with unit cost of $90. Payment terms are net 30—no payment discount offered. Atlas Freight Company billed Widgets $250.00 for delivering the widgets and Widgets paid Atlas immediately.
6. Calculate the following for January 2020:
   1. Inventory quantity on hand and account balance at the end of the month
   2. Net Sales, Cost of Goods Sold and Gross Profit for January 2020

Based on Problem 10-6

Indigo Landscaping began construction of a new plant on December 1, 2020. On this date, the company purchased a parcel of land for $147,600 in cash. In addition, it paid $3,120 in surveying costs and $4,080 for a title insurance policy. An old dwelling on the premises was demolished at a cost of $3,120, with $960 being received from the sale of materials.

Architectural plans were also formalized on December 1, 2020, when the architect was paid $34,800. The necessary building permits costing $3,120 were obtained from the city and paid for on December 1 as well. The excavation work began during the first week in December with payments made to the contractor in 2021 as follows.

Date of Payment		Amount of Payment
March 1		$248,400
May 1		340,800
July 1		61,200

Compute the balance in each of the following accounts at December 31, 2020, and December 31, 2021.

To finance construction of this plant, Indigo borrowed $602,400 from the bank on December 1, 2020. Indigo had no other borrowings. The $602,400 was a 10-year loan bearing interest at 9%.

The building was completed on July 1, 2021.

Using Excel calculate the following (show your work and use formulas where appropriate):

1. Balance in the Land account for December 31, 2020 and December 31, 2021
2. The weighted average of accumulated expenditures for 2020
3. The amount of interest capitalized in 2020
4. The weighted average of accumulated expenditures for 2021
5. The amount of interest capitalized in 2021
6. Balance in the Building account for December 31, 2020 and December 31, 2021
7. Balance in the Interest Expense account for December 31, 2020 and December 31, 2021

Problem 4

As of December 31, 2020 Big USA Company owns a foreign subsidiary (Taco) based in Mexico. Big is in the process of preparing consolidated financial statements and must translate the trial balance of Taco to U.S. Dollars. Selected financial information of Taco in pesos is presented below.

                                                                                       Pesos

Inventory 12/31/20                                                  300,000

Purchases in 2020                                                    2,600,000

Inventory 12/31/19                                                    420,000

Equipment purchased as follows

            1/1/18                                                                        250,000                                   

            Purchases during 2018                                            150,000

            Purchases during 2019                                            350,000

            Purchases during 2020                                           620,000

All equipment is depreciated over 8 years on a straight-line basis with a full year taken in year of acquisition.

The inventory turnover rate is 90 days.

Relevant Exchange Rates                           Pesos per dollar

                        

1/1/18                                                                                    8.0

Average Rates 2018                                                  8.5

Average Rate            2019                                                    9.3

Average Rate 2020                                                   9.8

Rate 4^thquarter 2019                                                            8.9

Rate 4^thquarter 2020                                                           9.6

Current rate 12/31/18                                                         8.9

Current Rate 12/31/19                                                        9.2

Current Rate 12/31/20                                                        9.9

REQUIRED (In US Dollars)

1. Assuming the U.S. Dollar is functional currency determine following

            Cost Goods Sold for 2020

            Balance in Equipment 12/31/20

            Balance in Accumulated Depreciation 12/31/20

            Depreciation Expense – 2020

2. Assuming the Peso is functional currency determine following

            Cost Goods Sold for 2020

            Balance in Equipment 12/31/20

            Balance in Accumulated Depreciation 12/31/20

            Depreciation Expense – 2020

The number of hours per week that the television is turned on is determined for each family in a sample. The mean of the data is 3535 hours and the median is 31.231.2 hours. Twenty-four of the families in the sample turned on the television for 2020 hours or less for the week. The 6^th percentile of the data is 2020 hours.

Step 2 of 5:

Approximately how many families are in the sample? Round your answer to the nearest integer.

The number of hours per week that the television is turned on is determined for each family in a sample. The mean of the data is 3535 hours and the median is 31.231.2 hours. Twenty-four of the families in the sample turned on the television for 2020 hours or less for the week. The 6^th percentile of the data is 2020 hours.

Step 3 of 5:

Based on the given information, determine if the following statement is true or false.

Approximately 200200 families turned on their televisions for less than 3535 hours.

The number of hours per week that the television is turned on is determined for each family in a sample. The mean of the data is 3535 hours and the median is 31.231.2 hours. Twenty-four of the families in the sample turned on the television for 2020 hours or less for the week. The 6^th percentile of the data is 2020 hours.

Step 4 of 5:

What is the value of the 50^th percentile?

The number of hours per week that the television is turned on is determined for each family in a sample. The mean of the data is 3535 hours and the median is 31.231.2 hours. Twenty-four of the families in the sample turned on the television for 2020 hours or less for the week. The 6^th percentile of the data is 2020 hours.

Step 5 of 5:

Based on the given information, determine if the following statement is true or false.

The first quartile is less than 2020 hours.

2. Tonka Industries sold inventory to customers on account totaling $90,000 during 2019. The inventory cost Tonka Industries $42,000.

3. During 2019, Tonka Industries collected $53,600 from customers who previously charged on account.

4. On December 31, 2019, Tonka Industries recorded its uncollectible accounts estimate. Tonka Industries estimates that $1,350 will be uncollectible.

5. On February 19, 2020, Tonka Industries received notification that Jan Levinson, who owes Tonka Industries $900, has filed for bankruptcy. Tonka Industries writes off Ms. Levinson’s account.

7. After invoicing the customer for more than one year, Tonka Industries decides to write-off the $200 accounts receivable balance of David Wallace.

8. Tonka Industries Corporation’s 2020 sales on account totaled $213,600. Inventory sold during 2020 cost Tonka Industries $103,000.

9. During 2020, Tonka Industries collected $80,000 from customers on open accounts receivable.

10. At the end of 2020, Tonka Industries estimates uncollectible accounts of $6,890

Summary Questions:

1. How much uncollectible accounts expense will appear on Tonka Industries Corporation income statement for the year ended December 31, 2019?

2. Calculate the net realizable value of receivables that will appear in the December 31, 2019 balance sheet.

- Accounts Receivable from #2

- Accounts Receivable collected from #3

= Ending Accounts Receivable Balance on December 31, 2019

- Allowance for Doubtful Accounts in #4

= Net Realizable Value of Receivables as of December 31, 2019

3. How much uncollectible accounts expense will appear on Tonka Industries Corporation income statement for the year ended December 31, 2020?

4. Calculate the net realizable value of receivables that will appear in the December 31, 2020 balance sheet. Hint: Remember that Accounts Receivable and Allowance for Doubtful Accounts are both balance sheet accounts, and their balances carry forward from year-to-year.

Beginning Accounts Receivable balance (ending balance on 12/31/19 calculated in #2 above)

+ Sales on account from #8

- Accounts Receivable collected from #9

- Write-offs during 2020 (from #5 and #7)

= Ending Accounts Receivable Balance as of December 31, 2020 ;

Beginning Allowance for Doubtful Accounts balance (ending balance on 12/31/19)

- Write-offs during 2020 (from #5 and #7)

+ 2020 uncollectible accounts estimate in #10

= Ending Allowance for Doubtful Accounts Balance as of December 31, 2020 Accounts Receivable

- Allowance for Doubtful Accounts

= Net Realizable Value of Receivables as of December 31, 2020

Write a 2-page paper to describe how does a nursing homeowner, Jane Smith, can improve the elderly living experience at her nursing home and seeing a doctor.

1. What technology Jane can adopt to monitor and foresee possible disease and sickness the elderly have? what technology can she adopt to enhance the seeing doctor experience? (Maybe they do not have to go to the doctor's office)
2. What technology can Jane adopt to enhance the communication experience between elderly and remote family members and allowing the family member full access to the elderly medical data?
3. Describe how to balance privacy, Electronic Medical Records(EMR) security, and data sharing.

23-

At a certain temperature, the Kp for the decomposition of H2S is 0.820.

H2S(g)<--->H2(g)+S(g)

Initially, only H2S is present at a pressure of 0.112 atm in a closed container. What is the total pressure in the container at equilibrium?

_____atm

A closed, rigid, 0.40 m³ tank is filled with 15 kg of water. The initial pressure is p₁ = 20 bar. The water is cooled until the pressure is p₂= 4 bar.

Determine the initial quality, x₁, and the heat transfer, in kJ.

A closed system contains 1kg of air initially at 100kPa, 30 deg Celsius and 0.5m3.The air expands reversibly and isothermally until the volume of the system doubles.For the process determine the enthropy change and the heat transfer of the air being expanded,