Number Analysis Program Python:
Initialize an array with these specific 20 numbers: 26 45 56 12 78 74 39 22 5 90 87 32 28 11 93 62 79 53 22 51
Display the following data:
1. The lowest number in the list
2. The highest number in the list
3. The total of the numbers in the list
4. The average of the numbers in the list
In: Computer Science
Instructions Journalize the March transactions, including explanations. Friendley’s records golf fees as service revenue.
P3-5A Foyle Architects incorporated as licensed architects on April 1, 2014. During the first month of the operation of the business, these events and transactions occurred:
Apr. 1 Stockholders invested $18,000 cash in exchange for common stock of the corporation.
1 Hired a secretary-receptionist at a salary of $375 per week, payable monthly.
2 Paid offi ce rent for the month $900.
3 Purchased architectural supplies on account from Burlington Company $1,300.
10 Completed blueprints on a carport and billed client $1,900 for services.
11 Received $700 cash advance from J. Madison to design a new home.
20 Received $2,800 cash for services completed and delivered to M. Svetlana.
30 Paid secretary-receptionist for the month $1,500. 30 Paid $300 to Burlington Company for accounts payable due.
The company uses these accounts: Cash, Accounts Receivable, Supplies, Accounts Payable, Unearned Service Revenue, Common Stock, Service Revenue, Salaries and Wages Expense, and Rent Expense.
Instructions (
a) Journalize the transactions, including explanations.
(b) Post to the ledger T-accounts.
(c) Prepare a trial balance on April 30, 2014.
In: Accounting
On January 1, 2019, Plywood Homes, Inc., issued 20-year, 4% bonds having a face value of $1 million. The interest on the bonds is payable semiannually on June 30 and December 31. The proceeds to the company were $975,000 (i.e. on the day they were issued the bonds had a market value of $975,000). On June 30, 2019, the company’s fiscal closing date, when the bonds were being traded at 98.5, each of the following amounts was suggested as a possible valuation basis for reporting the bond liability on the balance sheet.
1. $975,625 (proceeds, plus six months’ straight-line
amortization)
2. $1 million (face value)
3. $1,780,000 (face value plus interest payments)
Required:
a. Distinguish between nominal and effective interest
rates.
b. Explain the nature of the $25,000 difference between the face
value and market value of the bonds on January 1, 2019.
c. Between January 1 and June 30, the market value of the company’s
bonds increased from $975,000 to $985,000. Explain. Discuss the
significance of the increase to the company.
d. Evaluate each of the three suggested alternatives for reporting
the bond liability on the balance sheet, giving arguments for and
against each alternative. Your answer should take the investor and
the reporting company into consideration.
In: Accounting
|
Bilboa Freightlines, S.A., of Panama, has a small truck that it uses for intracity deliveries. The truck is worn out and must be either overhauled or replaced with a new truck. The company has assembled the following information: |
| Present Truck |
New Truck |
|||||
| Purchase cost new | $ | 33,000 | $ | 40,000 | ||
| Remaining book value | $ | 24,000 | - | |||
| Overhaul needed now | $ | 23,000 | - | |||
| Annual cash operating costs | $ | 22,000 | $ | 20,500 | ||
| Salvage value-now | $ | 7,000 | - | |||
| Salvage value-five years from now | $ | 25,000 | $ | 14,000 | ||
|
If the company keeps and overhauls its present delivery truck, then the truck will be usable for five more years. If a new truck is purchased, it will be used for five years, after which it will be traded in on another truck. The new truck would be diesel-operated, resulting in a substantial reduction in annual operating costs, as shown above. |
|
The company computes depreciation on a straight-line basis. All investment projects are evaluated using a 8% discount rate. |
|
Click here to view Exhibit 13B-1 and Exhibit 13B-2, to determine the appropriate discount factor(s) using tables. |
| Required: |
| 1-a. |
Use the total-cost approach to net present value. (Any cash outflows should be indicated by a minus sign. Round discount factor(s) to 3 decimal places.) |
In: Accounting
On January 1, 2016, Plywood Homes, Inc., issued 20‐year, 4 percent bonds having a face value of $1 million. The interest on the bonds is payable semiannually on June 30 and December 31. The proceeds to the company were $975,000 (i.e., on the day they were issued the bonds had a market value of $975,000). On June 30, 2016, the company’s fiscal closing date, when the bonds were being traded at 98 ½, each of the following amounts was suggested as a possible valuation basis for reporting the bond liability on the balance sheet.
$975,625 (proceeds, plus six months’ straight‐line amortization)
$1 million (face value)
$1,780,000 (face value plus interest payments)
Required:
1) Distinguish between nominal and effective interest rates.
2) Explain the nature of the $25,000 difference between the face value and market value of the bonds on January 1, 2016.
3) Between January 1 and June 30, the market value of the company’s bonds increased from $975,000 to $985,000. Explain. Discuss the significance of the increase to the company.
4) Evaluate each of the three suggested alternatives for reporting the bond liability on the balance sheet, giving arguments for and against each alternative. Your answer should take the investor and the reporting company into consideration.
In: Accounting
Explain for right option
Multiple Choice Questions
1. The primary objective of financial reporting is to provide information
a. Useful for making investment and credit decisions.
b. About the profitability of the enterprise.
c. To the federal government.
d. On the cash flows of the company.
2. Which type of business organization provides the least amount of protection for bankers and other creditors of the company?
a. Partnership
b. Proprietorship
c. Corporation
d. Both a and b
3. Assets are usually reported at their
a. Historical cost.
b. Current market value.
c. Appraised value.
d. None of the above (fill in the blank).
4. During March, assets increased by $19,000 and liabilities increased by $6,000. Stockholders equity must have
a. Increased by $13,000.
b. Decreased by $13,000.
c. Increased by $25,000.
d. Decreased by $25,000.
5. The amount a company expects to collect from customers appears on the
a. Statement of cash flows.
b. Balance sheet in the current assets section.
c. Income statement in the expenses section.
d. Balance sheet in the stockholders equity section.
6. All of the following are current assets except
a. Inventory.
b. Sales Revenue.
c. Cash.
d. Accounts Receivable.
7. Revenues are
a. Decreases in liabilities resulting from paying off loans.
b. Increases in paid-in capital resulting from the owners investing in the business.
c. Increases in retained earnings resulting from selling products or performing services.
d. All of the above.
8. The financial statement that reports revenues and expenses is called the
a. Statement of cash flows.
b. Income statement.
c. Statement of retained earnings.
d. Balance sheet.
In: Accounting
A golf club manufacturer claims that golfers can lower their scores by using the manufacturer's newly designed golf clubs. Eight golfers are randomly selected and each is asked to give his or her most recent score. After using the new clubs for one month, the golfers are asked again to give their most recent score. The scores for each golfer are given in the table below. Is there enough evidence to support the manufacturer's claim? Let d=(golf score after using the newly designed golf clubs)−(golf score before using the newly designed golf clubs). Use a significance level of α=0.05 for the test. Assume that the scores are normally distributed for the population of golfers both before and after using the newly designed clubs. Golfer 1 2 3 4 5 6 7 8 Score (old design) 96 86 79 95 78 92 75 79 Score (new design) 94 89 74 90 82 90 71 74 Step 3 of 5 : Compute the value of the test statistic. Round your answer to three decimal places.
In: Statistics and Probability
Determining Effects of Stock Splits
Oracle Corp has had the following stock splits since its
inception.
| Effective Date | Split Amount |
|---|---|
| October 12, 2000 | 2 for 1 |
| January 18, 2000 | 2 for 1 |
| February 26, 1999 | 3 for 2 |
| August 15, 1997 | 3 for 2 |
| April 16, 1996 | 3 for 2 |
| February 22, 1995 | 3 for 2 |
| November 8, 1993 | 2 for 1 |
| June 16,1989 | 2 for 1 |
| December 21, 1987 | 2 for 1 |
| March 9, 1987 | 2 for 1 |
a. If the par value of Oracle shares was originally $2, what would
Oracle Corp. report as par value per share on its 2015 balance
sheet?
Compute the revised par value after each stock split.
Round answers to three decimal places.
| Revised Par | |
|---|---|
| Effective Date | Value |
| March 9, 1987 | $Answer |
| December 21, 1987 | $Answer |
| June 16, 1989 | $Answer |
| November 8, 1993 | $Answer |
| February 22, 1995 | $Answer |
| April 16, 1996 | $Answer |
| August 15, 1997 | $Answer |
| February 26, 1999 | $Answer |
| January 18, 2000 | $Answer |
| October 12, 2000 | $Answer |
b. On May 10, 2016, Oracle stock traded for about $60. All things
equal, if Oracle had never had a stock split, what would a share of
Oracle have traded for that same day?
Round answer to the nearest dollar.
$Answer
In: Accounting
A 30-year-old male who knowingly suffers from heart disease states on his life insurance application that he is a 27-year-old female in perfect health. How do you think the insurance company will treat a death claim made three years later? Do you feel that this is fair to the insurance company? Explain.
In: Operations Management
1.When a net loss has occurred, Income Summary is
| debited and Owner’s Drawings is credited. |
| credited and Owner’s Capital is debited. |
| credited and Owner’s Drawings is debited. |
| debited and Owner’s Capital is credited. |
2. On September 23, Reese Company received a $350 check from Mike Moluf for services to be performed in the future. The bookkeeper for Reese Company incorrectly debited Cash for $350 and credited Accounts Receivable for $350. The amounts have been posted to the ledger. To correct this entry, the bookkeeper should
| debit Accounts Receivable $350 and credit Service Revenue $350. |
| debit Accounts Receivable $350 and credit Unearned Service Revenue $350. |
| debit Cash $350 and credit Unearned Service Revenue $350. |
| debit Accounts Receivable $350 and credit Cash $350. |
3. Cash of $100 received at the time the service was provided was journalized and posted as a debit to Cash $100 and a credit to Accounts Receivable $100. Assuming the incorrect entry is notreversed, the correcting entry is
| debit Service Revenue $100 and credit Accounts Receivable $100. |
| debit Cash $100 and credit Service Revenue $100. |
| debit Accounts Receivable $100 and credit Service Revenue $100. |
| debit Accounts Receivable $100 and credit Cash $100. |
4. Whitman Company paid $630 cash on account to a creditor. The journal entry for this transaction was incorrectly recorded as a debit to Cash of $360 and a credit to Accounts Receivable of $360. The correcting entry is
| debit to Accounts Receivable, $360, and credit to Cash, $360. |
| debit to Accounts Payable, $630, debit to Accounts Receivable, $360, and credit to Cash, $990. |
| debit to Accounts Receivable, $630, and credit to Accounts Payable, $630. |
| debit to Accounts Payable, $630, and credit to Cash, $630. |
5. In a classified balance sheet, assets are usually classified using the following categories:
| current assets; long-term investments; property, plant, and equipment; and intangible assets. |
| current assets; long-term assets; property, plant, and equipment; and intangible assets. |
| current assets; long-term investments; property, plant, and equipment; and tangible assets. |
| current assets; long-term investments; tangible assets; and intangible assets. |
6. Maxim Company had the following partial listing of accounts and balances at year-end: Cash, $7,000; Accounts Receivable, $6,000; Accounts Payable, $15,000; Equipment, $23,000; Inventories, $5,000; Supplies, $1,000; Investment in Real Estate, $75,000; Unearned Service Revenue, $13,000; and Prepaid Rent, $4,000. The total current assets for Maxim Company is
| $98,000. |
| $23,000. |
| $149,000. |
| $19,000. |
In: Accounting