The Eldorado Corporation's controller prepares adjusting entries only at the end of the fiscal year. The following adjusting entries were prepared on December 31, 2016: Debit Credit Interest expense 7,200 Interest payable 7,200 Rent expense 35,000 Prepaid rent 35,000 Interest receivable 500 Interest revenue 500 Additional information: The company borrowed $120,000 on March 31, 2016. Principal and interest are due on March 31, 2017. This note is the company's only interest-bearing debt. Rent for the year on the company's office space is $60,000. The rent is paid in advance. On October 31, 2016, Eldorado lent money to a customer. The customer signed a note with principal and interest at 6% due in one year. Required: Determine the following: What is the interest rate on the company's note payable? The 2016 rent payment was made at the beginning of which month? How much did Eldorado lend its customer on October 31?
In: Accounting
II. Notes Payable. Rubio Company had the following borrowing activity. Rubio has a borrowing rate of 6 percent on its other debt.
A. On June 30, 2016, Rubio issued a non-interest bearing, 10 year note of $50,000 to acquire land for expansion.
1. Calculate the cash equivalent price of the land (assuming 6% is the market rate).
2. Prepare the journal entry to record the acquisition on June 30.
B. On January 1, 2016, Rubio acquired equipment by issuing an $80,000, 2 percent (low-interest bearing), 5 year note, with interest paid annually, starting December 31, 2016.
1. Calculate the cash equivalent price of the equipment (assuming 6% is the market rate).
2. Prepare the journal entry to record the acquisition on January 1.
3. Prepare the journal entry to record the interest payment on December 31, 2016, assuming the effective interest method.
In: Accounting
Suppose you are given the following financial statement information for 2015 and 2016. Calculate the operating cash flows (OCF) for 2016. (Enter a whole number).
| Income Statement (2016) | Balance Sheet | ||||
| Sales | $9,352 | 2015 | 2016 | ||
| Cost of goods sold | $3,612 | Cash | $2,450 | $2,856 | |
| Other Expenses | $95 | Accounts Receivable | $1,690 | $1,780 | |
| Depreciation | $1,250 | Inventory | $3,570 | $3,460 | |
| EBIT | $4,395 | Current Assets | $7,710 | $8,096 | |
| Interest | $45 | Net Fixed Assets | $4,289 | $4,319 | |
| EBT | $4,350 | Total Assets | $11,999 | $12,415 | |
| Taxes (30%) | $1,305.00 | ||||
| Net income | $3,045.00 | Accounts Payable | $1,278 | $1,478 | |
| Dividends | $2,436.00 | Notes Payable | $2,568 | $2,658 | |
| Addition to Retained Earnings | $609.00 | Current Liabilities | $3,846 | $4,136 | |
| Long-term Debt | $2,985 | $2,929 | |||
| Total Equity | $5,168 | $5,350 | |||
| OCF | =??? | Total L + E | $11,999 | $12,415 | |
In: Finance
Rankine cycle experiment:
5000ml water consumed in experiment used
Time (sec): 1055
Boiler, Temp (c): 167.199
Turbine In, Temp (c):109.3
Turbine ex, Temp (c): 97.79
Boiler Pres, (KPa) : 721.315
Turbine In Pres, (KPa): 85.639
Turbine Ex Pres, (KPa): 32.826
Fuel flow, (L/Min):5.842
Generator, (RPM): 1949.185
Voltage (volts): 7.443
Current (Amps): 0.135
Power (Watts): 1.002
Calculate:
1.Mass flow rate of water/ steam in the closed cycle.
2. Specific work generated by the turbine.
3. Power generated by the turbine.
4. Heat rejected to cooling system by the condenser.
5. Specific work into the pump.
6. Heat flux introduced by the boiler
Please Help me, Ive posted this question a few times,and I don't understand why they use turbine inlet pressure instead of the boiler pressure.
Whats also confusing me is how they get h1 ,h2,h3 and h4 from the tables if the figures do not correspond.
Id really appreciate it if someone can properly explain this to me.
In: Advanced Math
Please use C++ for Mac (XCode)
In this program, a user can search for a name within a list of names. Here are the steps the program will implement:
1. Reads the names from the file names.txt into a vector that stores strings.
2. Sorts the names in alphabetical order using selection sort.
3. The program then prompts the user to enter a name.
4. The program then uses binary search to see if the name is in the list.
5. If the name is in the list, the program prints: "The name you entered is in the list!"
6. If the name entered was not in the list, the program prints "The name you entered was not in the list."
Notes: You will need to change your swap function to swap strings, like this:
void swap(string& x, string& y)
{
string temp = x;
x = y;
y = temp;
}
In: Computer Science
in java
Create a class called Customer in three steps: • (Step-1): • Add a constructor of the class Customer that takes the name and purchase amount of the customer as inputs. • Write getter methods getName and getPrice to return the name and price of the customer. You can write a toString() method which returns printed string of Customer name and its purchase. • (Step-2): Create a class called Restaurant. • Write a method addsale that takes customer name and purchase amount of the customer in the class restaurant and stores it into an array list. • Write a method nameBestCustomer that returns customer name who bought highest sale in the restaurant. • (Step-3): Write a tester class that prompts the user to enter name and purchase of the customers and display the name of the customer who bought highest sales in the restaurant.
In: Computer Science
1. Name 5 bacterial diseases and how we acquire them.
2. Name 5 viral diseases and how we acquire those diseases.
3. Name 5 fungal diseases and how we acquire them.
4. Name 5 protozoans diseases and how we acquire those.
In: Biology
Part 2: Scheduling of Deferred Taxes
From the information below, prepare Excel schedules (similar to those on pages 13 and 14 of the chapter notes) for 2015 and 2016 to calculate deferred income taxes. Remember, when preparing the 2015 schedule, you do not know about any changes that come about in 2016 (i.e., prepare the 2015 schedule with 2015 information only). Given the following information for Company Z for 2015 (in its first year of calculating deferred income taxes):
1) Company Z has one depreciable asset purchased January 2, 2015. The cost of the asset was $50,000. For financial statement purposes, Company Z is depreciating this asset over 10 years with no salvage value. For tax purposes Company Z is using MACRS, and the asset qualifies as a 5 year asset. Company Z has scheduled out the annual depreciation difference as follows:
Straight-line MACRS
Year (for financial) (for tax) Difference
2015 $5,000 $ 10,000 (5,000)
2016 5,000 16,000 (11,000)
2017 5,000 9,600 (4,600)
2018 5,000 5,760 (760)
2019 5,000 5,760 (760)
2020 5,000 2,880 2,120
2021 5,000 -0- 5,000
2022 5,000 -0- 5,000
2023 5,000 -0- 5,000
2024 5,000 -0- 5,000
2) The company recognized $18,000 for income from its equity method investment in 2015, but received only $12,000 in dividends from this investment (and recognized $12,000 in dividend income for tax purposes).
3) During 2015, Company Z recorded $14,000 as unearned subscription revenue, and plans to deliver the subscriptions in 2016. The IRS rules require that this amount be recognized as revenue in 2015.
4) The company also recognized estimated warranty expense of $6,000 in 2015. The warranties are expected to be paid out in 2017.
5) Pretax financial income was $200,000 in 2015, and a tax rate of 30 percent was enacted for the current and future years.
For 2016 (suggestion: use the blank column to record 2015 information, to reconcile totals across each line):
1) Assume that the depreciable asset continues to be depreciated on the methods above.
2) During 2016, the equity investment earned $30,000 and paid dividends to Company Z totaling $18,000. (Use a separate line in the schedule to record this new deferral.)
3) During 2016, $8,000 of the subscriptions were delivered. The balance will be delivered in 2017.
4) During 2016, $2,000 of the warranties was paid out. The balance will be settled in 2017.
5) Pretax financial income was $250,000 in 2016, and a tax rate of 40 percent was enacted for current and future years.
| Part II.Schedule - 2015 | I.T. Payable | DIT | |
| Pretax financial income | |||
| Future Deductible: | |||
| Future Taxable: | |||
| Taxable (deductible) amount | |||
| Tax rate | 30% | 30% | |
| Income tax payable | |||
| DIT - liab (asset) | |||
| DIT | |||
| | | |||
| | | |||
| === | |||
| | | |||
| Journal entry - 2015: | |||
| Schedule - 2016 | Prior | I.T. Payable | DIT |
| Pretax financial income | |||
| Future Deductible: | |||
| Future Taxable: | |||
| Taxable (deductible) amount | |||
| Tax rate | 40% | 40% | |
| Income tax payable | |||
| DIT - liab (asset) | |||
| DIT | |||
| | | |||
| | | |||
| === | |||
| | | |||
| Journal entry - 2016: | |||
In: Accounting
What would be the effect on the slope of the calibration curve if you were to choose a wavelength to do the analysis that was 50 nm longer than the wavelength selected in the experiment?
In: Chemistry
1. Explain/Define the classical experiment in terms of the following (provide references):
In: Advanced Math