Questions
The unadjusted trial balance as of December 31, 2021, for the Bagley Consulting Company appears below....

The unadjusted trial balance as of December 31, 2021, for the Bagley Consulting Company appears below. December 31 is the company’s reporting year-end.

Account Title Debits Credits
Cash 13,150
Accounts receivable 7,250
Prepaid insurance 2,900
Land 205,000
Buildings 55,000
Accumulated depreciation—buildings 22,000
Office equipment 87,000
Accumulated depreciation—office equipment 34,800
Accounts payable 28,150
Salaries payable 0
Deferred rent revenue 0
Common stock 220,000
Retained earnings 46,050
Service revenue 79,000
Interest revenue 3,800
Rent revenue 4,500
Salaries expense 30,000
Depreciation expense 0
Insurance expense 0
Utilities expense 20,200
Maintenance expense 17,800
Totals 438,300 438,300


Information necessary to prepare the year-end adjusting entries appears below.

  1. The buildings have an estimated useful life of 50 years with no salvage value. The company uses the straight-line depreciation method.
  2. The office equipment is depreciated at 10 percent of original cost per year.
  3. Prepaid insurance expired during the year, $1,450.
  4. Accrued salaries at year-end, $1,150.
  5. Deferred rent revenue at year-end should be $700.


Required:
1. From the trial balance and information given, prepare adjusting entries.
2. Post the beginning balances and adjusting entries into the appropriate T-accounts.
3. Prepare an adjusted trial balance.
4. Prepare closing entries.
5. Prepare a post-closing trial balance.

In: Accounting

The unadjusted trial balance as of December 31, 2021, for the Bagley Consulting Company appears below....

The unadjusted trial balance as of December 31, 2021, for the Bagley Consulting Company appears below. December 31 is the company’s reporting year-end.
Account Title
Debits
Credits
Cash
10,250
Accounts receivable
6,250
Prepaid insurance
2,500
Land
180,000
Buildings
42,500
Accumulated depreciation—buildings
17,000
Office equipment
75,000
Accumulated depreciation—office equipment
30,000
Accounts payable
26,750
Salaries payable
0
Deferred rent revenue
0
Common stock
180,000
Retained earnings
44,250
Service revenue
73,000
Interest revenue
2,800
Rent revenue
3,300
Salaries expense
26,000
Depreciation expense
0
Insurance expense
0
Utilities expense
18,200
Maintenance expense
16,400
Totals
377,100
377,100

Information necessary to prepare the year-end adjusting entries appears below.
a. The buildings have an estimated useful life of 50 years with no salvage value. The company uses the straight-line depreciation method.
b. The office equipment is depreciated at 10 percent of original cost per year.
c. Prepaid insurance expired during the year, $1,250.
d. Accrued salaries at year-end, $950.
e. Deferred rent revenue at year-end should be $500.
Required:
1. From the trial balance and information given, prepare adjusting entries.
2. Post the beginning balances and adjusting entries into the appropriate T-accounts.
3. Prepare an adjusted trial balance.
4. Prepare closing entries.
5. Prepare a post-closing trial balance.

In: Accounting

The unadjusted trial balance as of December 31, 2021, for the Bagley Consulting Company appears below....

The unadjusted trial balance as of December 31, 2021, for the Bagley Consulting Company appears below. December 31 is the company’s reporting year-end.

Account Title Debits Credits
Cash 13,150
Accounts receivable 7,250
Prepaid insurance 2,900
Land 205,000
Buildings 55,000
Accumulated depreciation—buildings 22,000
Office equipment 87,000
Accumulated depreciation—office equipment 34,800
Accounts payable 28,150
Salaries payable 0
Deferred rent revenue 0
Common stock 220,000
Retained earnings 46,050
Service revenue 79,000
Interest revenue 3,800
Rent revenue 4,500
Salaries expense 30,000
Depreciation expense 0
Insurance expense 0
Utilities expense 20,200
Maintenance expense 17,800
Totals 438,300 438,300


Information necessary to prepare the year-end adjusting entries appears below.

  1. The buildings have an estimated useful life of 50 years with no salvage value. The company uses the straight-line depreciation method.
  2. The office equipment is depreciated at 10 percent of original cost per year.
  3. Prepaid insurance expired during the year, $1,450.
  4. Accrued salaries at year-end, $1,150.
  5. Deferred rent revenue at year-end should be $700.


Required:
1. From the trial balance and information given, prepare adjusting entries.
2. Post the beginning balances and adjusting entries into the appropriate T-accounts.
3. Prepare an adjusted trial balance.
4. Prepare closing entries.
5. Prepare a post-closing trial balance.

In: Accounting

The unadjusted trial balance as of December 31, 2021, for the Bagley Consulting Company appears below....

The unadjusted trial balance as of December 31, 2021, for the Bagley Consulting Company appears below. December 31 is the company’s reporting year-end.

Account Title Debits Credits
Cash 10,250
Accounts receivable 6,250
Prepaid insurance 2,500
Land 180,000
Buildings 42,500
Accumulated depreciation—buildings 17,000
Office equipment 75,000
Accumulated depreciation—office equipment 30,000
Accounts payable 26,750
Salaries payable 0
Deferred rent revenue 0
Common stock 180,000
Retained earnings 44,250
Service revenue 73,000
Interest revenue 2,800
Rent revenue 3,300
Salaries expense 26,000
Depreciation expense 0
Insurance expense 0
Utilities expense 18,200
Maintenance expense 16,400
Totals 377,100 377,100

Information necessary to prepare the year-end adjusting entries appears below.

  1. The buildings have an estimated useful life of 50 years with no salvage value. The company uses the straight-line depreciation method.
  2. The office equipment is depreciated at 10 percent of original cost per year.
  3. Prepaid insurance expired during the year, $1,250.
  4. Accrued salaries at year-end, $950.
  5. Deferred rent revenue at year-end should be $500.

Required:
1. From the trial balance and information given, prepare adjusting entries.
2. Post the beginning balances and adjusting entries into the appropriate T-accounts.
3. Prepare an adjusted trial balance.
4. Prepare closing entries.
5. Prepare a post-closing trial balance.

In: Accounting

The unadjusted trial balance as of December 31, 2021, for the Bagley Consulting Company appears below....

The unadjusted trial balance as of December 31, 2021, for the Bagley Consulting Company appears below. December 31 is the company’s reporting year-end.

Account Title Debits Credits
Cash 7,650
Accounts receivable 7,750
Prepaid insurance 3,200
Land 215,000
Buildings 60,000
Accumulated depreciation—buildings 24,000
Office equipment 93,000
Accumulated depreciation—office equipment 37,200
Accounts payable 28,850
Salaries payable 0
Deferred rent revenue 0
Common stock 230,000
Retained earnings 46,950
Service revenue 82,000
Interest revenue 4,200
Rent revenue 5,100
Salaries expense 32,000
Depreciation expense 0
Insurance expense 0
Utilities expense 21,200
Maintenance expense 18,500
Totals 458,300 458,300


Information necessary to prepare the year-end adjusting entries appears below.

  1. The buildings have an estimated useful life of 50 years with no salvage value. The company uses the straight-line depreciation method.
  2. The office equipment is depreciated at 10 percent of original cost per year.
  3. Prepaid insurance expired during the year, $1,600.
  4. Accrued salaries at year-end, $1,250.
  5. Deferred rent revenue at year-end should be $800.


Required:
1. From the trial balance and information given, prepare adjusting entries.
2. Post the beginning balances and adjusting entries into the appropriate T-accounts.
3. Prepare an adjusted trial balance.
4. Prepare closing entries.
5. Prepare a post-closing trial balance.

In: Accounting

Write a 1-2 page essay considering the types of stock you might issue if you were...

Write a 1-2 page essay considering the types of stock you might issue if you were financing a new business corporation. In addition consider whether you would market the stock,either privately or publicly.

In: Finance

Identify the debit or credit for the following transactions. Remember, every single transaction has at least...

Identify the debit or credit for the following transactions. Remember, every single transaction has at least one debit and at least one credit. However, I just want you to identify what is requested.

1,Sold merchandise on account. Identify the sale entry debit

2

Wages were accrued but not paid at December 31, year-end. Identify the adjusting entry credit.

3.

Adjusting entry to record depreciation of office equipment. Identify the credit.

4.

Fees were earned but not billed at December 31, year-end. Identify the adjusting entry debit.

5,

The unearned rent revenue account at December 31, had a balance of $5,000, representing an advance payment received on Nov. 1st for 5 months rent. Identify the adjusting entry credit.

6.

On December 31, supplies had a balance of $4,150, but supplies on hand amounted to $2,100. Identify the adjusting entry debit.

7.

A note was issued to purchase $6,000 of inventory. Identify the debit.

8.

ABC company received a note from XYZ company for the settlement of XYZ Company's accounts receivable. Identify the debit.

9.

Which of the following accounts would not be closed? Prepaid Expenses, Wages Expense, Rent Revenue?

10.

Thinking back to bank reconciliations: If the bank collects a note on the company's behalf, what account would be debited?

11.

If a check is returned as non-sufficent funds (meaning there were not enough funds to cover the check that was previously deposited), what account would the company credit?

12.

When a company receives cash, what account is debited?

13.

When a company pays cash, what account is credited?

14.

If a company records that it received a $120 check from a customer to satisfy the account receivable, but then realizes the check was actually for $210, what account would be credited to correct the account?

15.

Sold merchandise on account. What is the credit for the cost of merchandise sold entry?

Choices are :

Note Payable,Unearned Rent Revenue, Cost of Goods Sold, Cash, Depreciation Expense, Miscellaneous Expense, Sales Revenue, Wages Payable, Fees Earned, Wages Expense, Accounts Receivable, Inventory, Prepaid Expenses, Note Receivable. Office Equipment, Accounts Payable, Supplies Expense. Rent Revenue, Accumulated Depreciation. Supplies

In: Accounting

Blue Spruce Hardware Store Inc. completed the following merchandising transactions in the month of May 2018....

Blue Spruce Hardware Store Inc. completed the following merchandising transactions in the month of May 2018. At the beginning of May, Blue Spruce’s ledger showed Cash of $8,600 and Common Shares of $8,600.

May 1 Purchased merchandise on account from Hilton Wholesale Supply for $8,600, terms 2/10, n/30.
2 Sold merchandise on account for $4,600, terms 3/10, n/30. The cost of the merchandise sold was $3,320.
5 Received credit from Hilton Wholesale Supply for merchandise returned $300.
9 Received collections in full, less discounts, from customers billed on May 2.
10 Paid Hilton Wholesale Supply in full, less discount.
11 Purchased supplies for cash $980.
12 Purchased merchandise for cash $2,780.
15 Received $220 refund for return of poor-quality merchandise from supplier on cash purchase.
17 Purchased merchandise from Northern Distributors for $2,400, terms 2/10, n/30.
19 Paid freight on May 17 purchase $260.
24 Sold merchandise for cash $5,160. The cost of the merchandise sold was $3,910.
25 Purchased merchandise from Toolware Inc. for $820, terms 3/10, n/30.
27 Paid Northern Distributors in full, less discount.
29 Made refunds to cash customers for returned merchandise $130. The returned merchandise was returned to inventory and had cost $90.
31 Sold merchandise on account for $1,280, terms n/30. The cost of the merchandise sold was $920.

Blue Spruce Hardware uses a perpetual inventory system.
Blue Spruce Hardware uses a perpetual inventory system.

Record the above transactions. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Round answers to the nearest whole dollar, e.g. 5,775.)

Date

Account Titles and Explanation

Debit

Credit

May 1

2

(Sale of merchandise on account)
2

(Cost of goods sold recorded)
5

9

10

11

12

15

17

19

24

(Sale of merchandise)
24

(Cost of goods sold recorded)
25

27

29

(Return of merchandise)
29

(Return of merchandise, assuming goods are resaleable and returned to inventory)
31

(Sale of merchandise)
31

(Cost of goods sold recorded)

In: Accounting

25 Term (years) Today's Rate 1 2.11% 2 2.30% 3 2.48% Based on the expectations hypothesis,...

25

Term (years)

Today's Rate

1

2.11%

2

2.30%

3

2.48%

Based on the expectations hypothesis, what does the market expect the 2 year rate in 1 years to be?

State your answer as a percentage to 2 decimal places (e.g., 4.39)

26

Term (years)

Today's Rate

1

2.07%

2

2.29%

3

2.52%

Based on the expectations hypothesis, what does the market expect the 1 year rate in 2 years to be?

State your answer as a percentage to 2 decimal places (e.g., 4.39)

27

Bond A has the following features:

         Face value = $1,000,       

Coupon Rate = 9%,       

Maturity = 9 years, Yearly coupons

         The market interest rate is 4.56%

         If interest rates remain at 4.56%, what will the price of bond A be in year 1?

28

How much would you pay today for a bond that has a face value of $1,000, and annual coupon of $74 and a maturity of 9 years? (=what is the price of the bond?)

         The annual interest rate is 6.44%?

29

Given the following information, what is TODAY’s stock price?

Today’s Dividend =

$4.63

Expected Growth rate in dividends =

2.82

Discount Rate (Required return) =

5.68

Calculate your answer to the nearest penny (e.g., 2.51)

30

Given the following information, what is the percentage capital gain/loss between today and period 1?

Calculate your answer to two decimal places (e.g., 2.51)

If there is a loss indicate this by using a negative number (e.g., -4.29)

Today’s Dividend =

$2.02

Expected Growth rate in dividends =

4.19

Discount Rate (Required return) =

7.62

In: Finance

I. Use the DNA sequence below, which encodes a prokaryotic gene to answer the following questions....

I. Use the DNA sequence below, which encodes a prokaryotic gene to answer the following questions.

1 ATGAGGAGTT 11 GACACACAAG 21 AGGAGGTAGC 31 AGTATGGGTA 41 TAATCTAATG 51 CGTAATTGAG 61 GAGGTAGTTG 71 ACGTATGAAT 81 AGTTAACGTA 91 CGGGGGGGAA 101 ACCCCCCCTT 111 TTTTTTTTTC 121 GAGCAATAAA 131 AGGGTTACAG 141 ATTGCATGCT

b) What region of this prokaryotic DNA sequence will be transcribed into mRNA? Circle one. 1-131 71-119 74-149 54-119

c) What will the sequence be for the protein translated from this mRNA?

d) Where is the 3’UTR? Circle one. 9-131 41-119 81-141 87-119

II. Use the DNA sequence below, which encodes a eukaryotic gene to answer the following questions.

1 GGCGTATAAA 11 GCGACGACTG 21 TAGACTGATG 31 AGCCTATCCA 41 TGGACGCGCC 51 ATGGCCCTGT 61 AAGCGGTGCG 71 ATGCAATAAA 81 ACGCGTATCA 91 GTCATTCAGC 101 GTAGTCTGAT 111 GCCAGTCGAC 121 TGC

a) Write down the corresponding sequences, find them in the sequence above and label them:

TATA box sequence: _________________ (label as TATA)

Polyadenylation signal in corresponding mRNA: ____________ (label as Poly-A)

Kozak’ssequence in corresponding mRNA: ________________ (label as Kozak)

Start (initiation) codon in corresponding mRNA: _______ (label as start)

Stop (termination) codon in corresponding mRNA: _______ (label as stop)

b) What region of the mRNA contains the open reading frame that will be translated into protein? 41-101 27-35 51-59 71-77

c) Where is the 3’UTR? Circle one. 59-101 51-123 63-101 71-81  

In: Biology