| Stockton Company Adjusted Trial Balance December 31 |
||
| Cash | 5,069 | |
| Accounts Receivable | 2,127 | |
| Prepaid Expenses | 670 | |
| Equipment | 14,334 | |
| Accumulated Depreciation | 2,046 | |
| Accounts Payable | 1,548 | |
| Notes Payable | 4,392 | |
| Common Stock | 1,000 | |
| Retained Earnings | 10,316 | |
| Dividends | 717 | |
| Fees Earned | 7,216 | |
| Wages Expense | 2,185 | |
| Rent Expense | 849 | |
| Utilities Expense | 321 | |
| Depreciation Expense | 172 | |
| Miscellaneous Expense | 74 | |
| Totals | 26,518 | 26,518 |
Determine the total assets.
$26,518
$20,154
$22,200
$11,316
In: Accounting
On June 1, 2018, DCI purchased a call option for $450, which gave it the right to buy 10,000 shares of iLines, Inc., for $54 each until December 1, 2018 . On that date, iLines’ shares were being traded for $52. On June 30, 2018, the option contract could be traded in the market at $96,000. On December 1, 2018, with the shares being traded at $70 each, DCI exercised the option and took delivery of the shares of iLines.
You are required to record all necessary entry/entries related to this option on:
a] June 1, 2018 when DCI acquired the call option.
b] June 30, 2018, when DCI closed its books of accounts.
c] December 1, 2018 assuming DCI exercises the call option and takes delivery of the shares of iLynes.
d] December 1, 2018, assuming DCI settles the call option for cash without taking delivery of the iLynes shares
NOTE: Wherever no entry is needed, write "No entry necessary".
In: Accounting
Polk Company developed the following information for its product: Per unit Sales price $90 Variable cost 63 Contribution margin $27 Total fixed costs $1,080,000 Instructions Answer the following independent questions and show computations using the contribution margin technique to support your answers. 1. How many units must be sold to break even? 2. What is the total sales that must be generated for the company to earn a profit of $60,000? 3. If the company is presently selling 45,000 units, but plans to spend an additional $108,000 on an advertising program, how many additional units must the company sell to earn the same net income it is now making? 4. Using the original data in the problem, compute a new break-even point in units if the unit sales price is increased 20%, unit variable cost is increased by 10%, and total fixed costs are increased by $210,000
In: Accounting
A bar can have only six barstools. Customers interested in having a drink at this bar arrive at a rate of 6 per hour following a Poisson distribution. It is expected that a customer stays 30 minutes, exponentially distributed. There are only 3 spaces available for customers to wait for a barstool to become available. Customers who want to come in and find there is no room to wait, go to the restaurant next door. Determine:
a. Probability that there are no customers at the bar.
b. The probability that an arriving customer has to wait for a barstool.
c. The average number of customers at the bar.
d. The average number of customers waiting.
In: Statistics and Probability
The data in the table represent the number of licensed drivers in various age groups and the number of fatal accidents within the age group by gender. Complete parts (a) to (c) below.
Age Number_of_Male_Licensed_Drivers_(000s),
Number_of_Fatal_Crashes, Number_of_Female_Licensed_Drivers0000s),
Number_of_Fatal_Crashes
<_16 12 227 12
77
16-20 6424 5180
6139 2113
21-24 6936 5016
6816 1550
25-34 18068 8565
17664 2780
35-44 20406 7990
20061 2742
45-54 19898 7126
19984 2285
55-64 14363 4527
14441 1514
65-74 8194 2274
8398 938
>_74 4803 2022
5375 957
(a) Find the least-squares regression line for males treating the number of licensed drivers as the explanatory variable, x, and the number of fatal crashes, y, as the response variable. Repeat this procedure for females.
(b) Interpret the slope of the least-squares regression line for each gender, if appropriate. How might an insurance company use this information?
(c) Was the number of fatal accidents for 16 to 20 year old males above or belowaverage? Was the number of fatal accidents for 21 to 24 year old males above or belowaverage? Was the number of fatal accidents for males greater than 74 years old above or below average? How might an insurance company use this information? Does the same relationship hold for females?
In: Statistics and Probability
Complete the following cost and revenue schedule.
|
Price |
Quantity Demanded |
Total Revenue |
Marginal Revenue |
Total Cost |
Marginal Cost |
Average Total Cost |
|
200 |
0 |
240 |
||||
|
180 |
10 |
360 |
||||
|
160 |
20 |
500 |
||||
|
140 |
30 |
660 |
||||
|
120 |
40 |
840 |
||||
|
100 |
50 |
1040 |
||||
|
80 |
60 |
1260 |
||||
|
60 |
70 |
1500 |
||||
|
40 |
80 |
1760 |
||||
|
20 |
90 |
2040 |
a. At what rate of output are profits maximized within this range?
b. What are total profits at that output rate?
In: Economics
P6-9A Terando Co. began operations on July 1. It uses a perpetual inventory system. During July, the company had the following purchases and sales. July 1. Units 5 Unit Cost $120 Sales July 6. Sales Units 4 July 11. Units 7 Unit Cost $136 July 14. Sales Units 3 July 21. Units 8 Unit Cost $147 July 27. Sales units 6 a) Determine the ending inventory under a perpetual inventory system using (1) FIFO, (2) moving-average cost, and (3) LIFO. b) Which costing method produces the highest ending inventory valuation?
In: Accounting
Where it says week 3 stock prices above the chart that I have posted is the week three prices. These are all the old prices. I need the current ones based off of the information that I have provided from the previous answer. Everything from the top of this page on down to that chart is the previous anwer to the question. Based off of that information, I will need the new question answered at the bottom of the page.
This is the previous question that I posted to get the answer to the chart below if this helps. The actual question that I need answered now is near the bottom of the page and it plays off of the the previous answer to the question given.
Indicate the companies you are investing in: Select three (3) US companies that are publicly traded. Please use your knowledge and experience and pick, as many stocks as you’d like. Lastly, make sure you are practicing good diversification. Jim Cramer, Money Manger, on CNBC, plays a game at the end of his show called “Am I Diversified.” Check out a short clip to get a sense of industry diversification at https://www.youtube.com/watch?v=f3lDxexupcE.
Sources of Information: There are many ways to find such companies and the stock prices, including the New York Stock Exchange at http://www.nyse.com, Google Finance athttp://google.com, NASDAQ at http://www.nasdaq.com, and http://finance.yahoo.com.
Indicate the amount you are investing in each company: Decide how you will divide $25,000 across the three (3) companies; e.g. $10,000 in Company 1, $10,000 in Company 2, and $5,000 in Company 3. You decide the amount you are investing in each company. You do not have to provide any analysis to justify your decisions. You must only provide some reason for picking that company. For example, you might invest in Ford because that company gets a lot of your money and you hear that Ford is doing well, and will continue to do well.
Indicate the number of shares you are buying, and the price of the shares you are buying for each company: Once you decide the companies and the amount for each company, determine how many shares you can buy. If Company 1 is selling for $42.16, then you may buy $10,000/ $42.16, or 237.19 shares. But you cannot buy a part of a share, so you decide to buy either 237 or 238. In this example you buy 237 shares, at $42.16 per share, investing $9,991.92. You won’t be able to buy exactly $10,000, or $5,000, or $25,000, but it will be relatively close.
Answer
I will be investing in three companies as below:
• Wal-Mart Stores, Inc (Ticker Code: WMT)
• Alphabet Inc (Ticker Code: GOOGL)
• Tesla Inc (Ticker Code: TSLA)
The decision to invest in these companies is because these are high growth companies and are present in different sectors of the economy. So, the investment portfolio would be well diversified. Investment reasons: • Walmart: Walmart is a leader in retail and provide good scope of growth in the future. Hence it is wise to invest in it. • Alphabet Inc: It is the parent of Google, which is at the forefront of innovation and has delivered excellent value to all stakeholders. High growth expected to continue and hence goo investment option • Tesla: Leader in terms of use of renewable energy for fueling transportation solutions. Huge future potential and hence justified for investment.
Week 3 Stock Prices
| Investment | Share price as of 05 April 2017 | Total no. of shares to be bought | Total investment amount | % of investment |
| Walmart | 72.08 | 1179 | $ 84,982 | 34% |
| Alphabet | 854.05 | 100 | $ 85,405 | 34% |
| Telsa | 302.18 | 263 | $ 79,473 | 32% |
| Total | 1542 | $ 249,861 | 100% |
Use the information listed about the three companies you previously chose to help you answer the question that follows. The question is broken up in three parts. Please note that this assignment is based on a pretend scenario and fictitious money. However, the assignment is based on actual stock pricing in real time situations.
Here Is The New Question
You may be following your stock every day, but if you’re not, you must:
Record the current price of the stock for each company you selected. You may use any price during this week (e.g., day one price, the opening, the low, the high, the close, or any price you find when you check it during the day). Using MS Excel spreadsheet or MS Word document, put your Week 3 and New stock prices side-by-side, to show your comparison.
Then, determine the current value of your total investment. Do not make any changes to your investment at this time. Calculate your total based on the number of shares and the new price per share, for each company.
Last, provide your opinion / assessment of your investments. Evaluate the results of your current investment. Are you happy with the result and the trend? Are you upset because your investment is worth less than $25,000? Feel free to speculate / guess at why you believe the stock increased, decreased, or remained static.
In: Finance
Journal Entries and Trial Balance
On October 1, 20Y6, Jay Pryor established an interior decorating business, Pioneer Designs. During the month, Jay completed the following transactions related to the business:
| Oct. | 1. | Jay transferred cash from a personal bank account to an account to be used for the business, $27,600. |
| 4. | Paid rent for period of October 4 to end of month, $2,680. | |
| 10. | Purchased a used truck for $23,000, paying $2,000 cash and giving a note payable for the remainder. | |
| 13. | Purchased equipment on account, $10,760. | |
| 14. | Purchased supplies for cash, $1,850. | |
| 15. | Paid annual premiums on property and casualty insurance, $4,140. | |
| 15. | Received cash for job completed, $11,590. |
Enter the following transactions on Page 2 of the two-column journal:
| 21. | Paid creditor a portion of the amount owed for equipment purchased on October 13, $3,840. | |
| 24. | Recorded jobs completed on account and sent invoices to customers, $13,190. | |
| 26. | Received an invoice for truck expenses, to be paid in November, $1,210. | |
| 27. | Paid utilities expense, $1,380. | |
| 27. | Paid miscellaneous expenses, $500. | |
| 29. | Received cash from customers on account, $5,520. | |
| 30. | Paid wages of employees, $3,670. | |
| 31. | Withdrew cash for personal use, $3,060. |
Required:
1. Journalize each transaction in a two-column
journal beginning on Page 1, referring to the following chart of
accounts in selecting the accounts to be debited and credited. (Do
not insert the account numbers in the journal at this time.)
Journal entry explanations may be omitted. If an amount box does
not require an entry, leave it blank.
| 11 Cash | 31 Jay Pryor, Capital |
| 12 Accounts Receivable | 32 Jay Pryor, Drawing |
| 13 Supplies | 41 Fees Earned |
| 14 Prepaid Insurance | 51 Wages Expense |
| 16 Equipment | 53 Rent Expense |
| 18 Truck | 54 Utilities Expense |
| 21 Notes Payable | 55 Truck Expense |
| 22 Accounts Payable | 59 Miscellaneous Expense |
| General Journal | Page 1 | |||
| Date | Description | Post. Ref. | Debit | Credit |
| 20Y6 | ||||
| Oct. 1 | ||||
| Oct. 4 | ||||
| Oct. 10 | ||||
| Oct. 13 | ||||
| Oct. 14 | ||||
| Oct. 15 | ||||
| Oct. 15 | ||||
| General Journal | Page 2 | |||
| Date | Description | Post. Ref. | Debit | Credit |
| 20Y6 | ||||
| Oct. 21 | ||||
| Oct. 24 | ||||
| Oct. 26 | ||||
| Oct. 27 | ||||
| Oct. 27 | ||||
| Oct. 29 | ||||
| Oct. 30 | ||||
| Oct. 31 | ||||
In: Accounting
Lanning Company sells 160,000 units at $45 per unit. Variable costs are $27 per unit, and fixed costs are $975,000. Determine
a) the contribution margin ratio,
(b) the unit contribution margin, and
c) income from operations.
In: Accounting