Bryant Corporation has provided the following information for the most recent quarter, July 1 through September 30 of 2020. Prepare a multiple-step Income Statement and the Asset section of a classified Balance Sheet, including the correct headings.
|
Specific Account |
Balance |
Specific Account |
Balance |
|
Accounts Payable |
$30 |
Insurance Payable |
$1 |
|
Accounts Receivable |
136 |
Interest Expense |
17 |
|
Accumulated Depreciation (Buildings) |
30 |
Interest Payable |
4 |
|
Accumulated Depreciation (Equipment) |
7 |
Inventory |
75 |
|
Allowance for Doubtful Accounts |
13 |
Land |
145 |
|
Bad Debt Expense |
4 |
Notes Payable (maturity of less than 1 yr) |
40 |
|
Bank Fees Expense |
1 |
Notes Payable (maturity of more than 1 yr) |
55 |
|
Buildings |
170 |
Retained Earnings (beginning) |
120 |
|
Cash |
125 |
Sales Discounts |
15 |
|
Common Stock |
204 |
Sales Returns & Allowances |
5 |
|
Cost of Goods Sold |
375 |
Sales Revenue |
750 |
|
Depreciation Expense |
14 |
Supplies |
6 |
|
Dividends |
17 |
Supplies Expense |
12 |
|
Equipment |
90 |
Unearned Sales Revenue |
27 |
|
Freight-Out |
3 |
Wages Expense |
24 |
|
Gain on Sale of PPE |
9 |
Wages Payable |
31 |
|
Income Tax Expense |
87 |
In: Accounting
Raw materials beginning and ending balances were $30,000 and 35,000 respectively. Company purchased $76,000 of additional raw materials during the year, and the company’s work in process had a beginning balance of $17,000 and an ending balance of $9,000. Murray’s company incurred $145,000 of administrative expenses and $57,205 in selling costs during the year. The company had direct labor costs of $81,000, and it incurred actual manufacturing overhead costs of $42,000. There were $5,500 worth of indirect materials used for production this year, and $44,000 worth of manufacturing overhead was applied to work in process. The company began the year with $42,100 worth of goods in its finished goods inventory and $38,000 of goods at the end of the year. The company sold $403,893 last year, but the tax rate is 27% and had to pay $950 in interest expense. Is the company doing well?
Create...
1) Schedule of Cost of Goods Manufactured
2) Schedule of Cost of Goods Sold
3) Traditional Income Statement
Please be dynamic and include formulas, thanks...
In: Accounting
|
|
LifeExpMale |
LifeExpFemale |
Argentina |
74 |
67 |
Bangladesh |
53 |
54 |
Brazil |
68 |
62 |
Canada |
80 |
73 |
China |
72 |
68 |
Colombia |
74 |
68 |
Egypt |
61 |
60 |
Ethiopia |
53 |
50 |
France |
82 |
74 |
Germany |
79 |
73 |
India |
58 |
57 |
Indonesia |
63 |
59 |
Iran |
65 |
64 |
Italy |
82 |
75 |
Japan |
82 |
76 |
Kenya |
63 |
59 |
Korea.North |
73 |
67 |
Korea.South |
73 |
67 |
Mexico |
76 |
68 |
Morocco |
66 |
63 |
Burma |
56 |
53 |
Pakistan |
57 |
56 |
Peru |
67 |
62 |
Philippines |
67 |
62 |
Poland |
77 |
69 |
Romania |
75 |
69 |
Russia |
74 |
64 |
South.Africa |
67 |
61 |
Spain |
82 |
75 |
Sudan |
54 |
52 |
Taiwan |
78 |
72 |
Tanzania |
55 |
50 |
Thailand |
71 |
66 |
Turkey |
72 |
68 |
Ukraine |
75 |
66 |
UK |
79 |
73 |
USA |
79 |
72 |
Venezuela |
78 |
71 |
Vietnam |
67 |
63 |
Zaire |
56 |
52 |
a. what test should you use to test the two data sets (male and female life expectancy) for normality and why? (2 points)
b. Run that test on both variables. Report the results below (2 points).
e. Calculate the correlation coefficient using SPSS. What is the value of r for this data set? (2 points)
In: Statistics and Probability
For questions 2-7: state the appropriate hypotheses; conduct a hypothesis test using α = 0.05 utilizing the classical approach, confidence interval approach, or p-value approach; state the decision regarding the hypotheses; and make a conclusion.
3. (15 pts) In a study of schizophrenia, researchers measured the activity of the enzyme monoamine oxidase (MAO) in the blood platelets of 18 patients. The results (expressed as nmol benzylaldehyde product per 108 platelets) were as follows:
6.8 8.4 8.7 11.9 14.2 18.8
9.9 4.1 9.7 12.7 5.2 7.8 7.8
7.4 7.3 10.6 14.5 10.7
The researchers believe that the average MAO level should be 7.5 amongst the general population, which is assumed to follow a normal distribution. Elevated MAO levels are considered abnormal.
7. (15 pts) The manager of a fast-food restaurant claims that the average service time is less than 90 seconds. A random sample of customers is selected and their wait times are reported as follows:
56 78 66 78 99 114 106 92 45 102
119 84 88 118 99 61 55 79 108 46
75 102 70 74 72 113 83 78 105 81
In: Math
Economy Laundry Company had the following transactions in August:
Aug. 1 Issued capital stock for cash, $ 150,000.
3 Borrowed $ 40,000 from the bank on a note.
4 Purchased cleaning equipment for $ 25,000 cash.
6 Performed services for customers who promised to pay later, $ 16,000.
7 Paid this month’s rent on a building, $ 2,800.
10 Collections were made for the services performed on August 6, $ 3,200.
14 Supplies were purchased on account for use this month, $ 3,000.
17 A bill for $ 400 was received for utilities for this month.
25 Laundry services were performed for customers who paid immediately, $ 22,000.
31 Paid cash dividend, $ 2,000.
Required:
Prepare journal entries for these transactions.
In: Accounting
Halifax Manufacturing allows its customers to return merchandise for any reason up to 90 days after delivery and receive a credit to their accounts. All of Halifax's sales are for credit (no cash is collected at the time of sale). The company began 2021 with a refund liability of $390,000. During 2021, Halifax sold merchandise on account for $12,800,000. Halifax's merchandise costs it 70% of merchandise selling price. Also during the year, customers returned $370,000 in sales for credit, with $204,000 of those being returns of merchandise sold prior to 2021, and the rest being merchandise sold during 2021. Sales returns, estimated to be 3% of sales, are recorded as an adjusting entry at the end of the year.
What is the amount of the year-end refund liability after the adjusting entry is recorded?
In: Accounting
Please solve everything using Python 3
1. What does list contain after the following code is executed?
list = [82, 27, 66, 18, 40, 93, 85, 29]
list.append(50)
list.insert(3, 99)
list.pop()
a. [82, 27, 66, 99, 18, 40, 93, 85, 29]
b. [50, 82, 27, 99, 66, 18, 40, 93, 85]
c. [27, 66, 99, 18, 40, 93, 85, 29, 50]
d. [82, 27, 99, 66, 18, 40, 93, 85, 29]
2. What does list contain after the following code is executed?
list = [77, 41, 92, 30, 38, 12, 63]
list.sort()
list.insert(2, 88)
list.pop(5)
a. [12, 30, 88, 38, 63, 77, 92]
b. [92, 77, 88, 63, 41, 30, 12]
c. [12, 88, 30, 38, 63, 77, 92]
d. [12, 30, 88, 38, 41, 77, 92]
3. What does the list states contain after the following code is executed?
states = ['NJ', 'TN', 'WI', 'UT']
states.extend(['PA', 'KY', 'NY'])
states.remove('UT')
states.sort(reverse=True)
a. ['WI', 'UT', 'TN', 'PA', 'NY', 'NJ', 'KY']
b. ['WI', 'PA', 'TN', 'NJ', 'NY', 'KY']
c. ['WI', 'TN', 'PA', 'NY', 'NJ', 'KY']
d.['NJ', 'TN', 'WI', 'PA', 'KY', 'NY']
In: Computer Science
In 5-7 paragraph please provide an analysis of the Target Customers for Honda Motor Company?
In: Economics
Find equations of both the tangent lines to the ellipse x2 + 9y2 = 81 that pass through the point (27, 3)
In: Math
The revised revenue recognition accounting standard employs a five-step process to achieve the core principle to recognize income upon the transfer of promised goods or services. Use the Internet to research a company that bundles a product and a service. Examine income recognition of the bundled product and service for the company by addressing each step in the five-step process for revenue recognition. Give your opinion on the most critical step for accurately reporting revenue in the five-step process. Provide support for your response.
In: Accounting