Cruz Company uses LIFO for inventory costing and reports the following financial data. It also recomputed inventory and cost of goods sold using FIFO for comparison purposes. 2017 2016 LIFO inventory $ 190 $ 140 LIFO cost of goods sold 770 710 FIFO inventory 260 165 FIFO cost of goods sold 725 — Current assets (using LIFO) 250 220 Current liabilities 170 150 1. Compute its current ratio, inventory turnover, and days' sales in inventory for 2017 using (a) LIFO numbers and (b) FIFO numbers. (Round your answers to 1 decimal place.)
In: Accounting
Create a simple python app that allows the user to create a roster of students and their grade on CUS-1166.
Moreover the app needs to calculate the average grade of students added to the roster.
1-To begin with, create a new file n the same working folder as part A (i.e. cus1166_lab1) and name it app.py. Moreover, create a subfolder and name it mymodules.
2-Within mymodules create the files __init__.py , models.py , math_utils.py .
3-In the models.py file define a Student class. A Student class need to have two attributes, the student_name and strudent_grade .
4-It also has three methods as follows: set_grade(grade) that sets the grade of the student. get_grade returns the grade of the student. print_student_info that print the name and grade of student in a formated string. In the math_utils.py file define a function called average_grade(roster) .
This method accepts as input a list of Student Objects and returns the average of the current roster. In the app.py file, create a main function, to create a roster of 10 students, print the list of students, and print the average score of the current roster. You can either populate the student roster interactively (i.e. by using the input method to prompt the user from the console) or hard-code the student information in your code. You app.py file must use the Student class, and the average_grade method you defined the mymodules module.
In: Computer Science
QS 16-7 Computing cash from asset sales LO P3
The following selected information is from Ellerby Company’s comparative balance sheets.
| At December 31 | 2017 | 2016 | |||||
| Furniture | $ | 157,500 | $ | 218,500 | |||
| Accumulated depreciation—Furniture | (97,200 | ) | (119,200 | ) | |||
The income statement reports depreciation expense for the year of
$26,500. Also, furniture costing $61,000 was sold for its book
value on December 31, 2017.
Complete the general ledger accounts to calculate the cash received
from the sale of furniture.
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| Sale of short-term investments | $ | 3,000 |
| Cash collections from customers | 7,900 | |
| Purchase of used equipment | 2,600 | |
| Depreciation expense | 1,000 | |
Compute cash flows from investing activities using the above
company information. (Amounts to be deducted should be
indicated by a minus sign.)
A comparative balance sheet and income statement is shown for Cruz, Inc.
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CRUZ, INC. Comparative Balance Sheets December 31, 2017 |
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| 2017 | 2016 | ||||||
| Assets | |||||||
| Cash | $ | 75,900 | $ | 18,900 | |||
| Accounts receivable, net | 32,600 | 40,100 | |||||
| Inventory | 68,300 | 75,300 | |||||
| Prepaid expenses | 4,200 | 3,500 | |||||
| Total current assets | 181,000 | 137,800 | |||||
| Furniture | 84,600 | 99,200 | |||||
| Accum. depreciation—Furniture | (13,100 | ) | (7,500 | ) | |||
| Total assets | $ | 252,500 | $ | 229,500 | |||
| Liabilities and Equity | |||||||
| Accounts payable | $ | 11,900 | $ | 16,900 | |||
| Wages payable | 7,100 | 4,000 | |||||
| Income taxes payable | 1,200 | 2,200 | |||||
| Total current liabilities | 20,200 | 23,100 | |||||
| Notes payable (long-term) | 24,800 | 58,400 | |||||
| Total liabilities | 45,000 | 81,500 | |||||
| Equity | |||||||
| Common stock, $5 par value | 177,300 | 141,500 | |||||
| Retained earnings | 30,200 | 6,500 | |||||
| Total liabilities and equity | $ | 252,500 | $ | 229,500 | |||
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CRUZ, INC. Income Statement For Year Ended December 31, 2017 |
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| Sales | $ | 392,900 | ||||
| Cost of goods sold | 252,900 | |||||
| Gross profit | 140,000 | |||||
| Operating expenses | ||||||
| Depreciation expense | $ | 30,200 | ||||
| Other expenses | 71,600 | 101,800 | ||||
| Income before taxes | 38,200 | |||||
| Income taxes expense | 13,900 | |||||
| Net income | $ | 24,300 | ||||
Furniture costing $67,600 is sold at its book value in 2017.
Acquisitions of furniture total $53,000 cash, on which no
depreciation is necessary because it is acquired at year-end. What
is the cash inflow related to the sale of furniture?
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In: Accounting
QS 16-9 Computing financing cash flows LO P3
The following selected information is from Princeton Company’s
comparative balance sheets.
| At December 31 | 2017 | 2016 | ||
| Common stock, $10 par value | $ | 115,000 | $ | 112,000 |
| Paid-in capital in excess of par | 579,000 | 348,000 | ||
| Retained earnings | 325,500 | 299,500 | ||
The company’s net income for the year ended December 31, 2017, was
$54,000.
1. Complete the T-accounts to calculate the cash
received from the sale of its common stock during 2017.
2. Complete the T-account to calculate the cash
paid for dividends during 2017.
A comparative balance sheet and income statement is shown for
Cruz, Inc.
QS 16-13 Computing financing cash outflows LO P3 1. Assume that all common stock is issued for
cash. What amount of cash dividends is paid during 2017?
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In: Accounting
Java
Write a program to record the GPAs of a class and find the percentage of students in each GPA. The program first allows the user to enter the number of students enrolled in the class, and then to enter the GPA of all students one by one. For each student, the input must be between 1 and 4 inclusively. Otherwise, the software displays a message as “Invalid number!” and asks for a new GPA for the same student
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Enter number of students: 8 Enter GPA for student #1 is: 1 Enter GPA for student #2 is: 5 Invalid number! Enter GPA for student #2 is: 2 Enter GPA for student #3 is: 3 Enter GPA for student #4 is: 4 Enter GPA for student #5 is: 4Enter GPA for student #6 is: 2 Enter GPA for student #7 is: 3 Enter GPA for student #8 is: 4 |
The total number of students is 8. ***************** GPA 3 --- 2 student(s) |
Note: you should trace the GPA list just once. So, you should use an array GPAFreq with four elements; to store the frequencies of each GPA from 1 to 4.
In: Computer Science
Assume the government wants to increase GDP and income Y. It has $100 million to use. Explain why spending it on roads and bridges (government spending G) will increase Y more or less than if it used the money on transfer payments (R) such as welfare payments. You must refer to the multiplier and mathematically why one policy would be different from the other. Explain why one policy would work better than the other.
In: Economics
Marvin Bridges is a 25 percent partner in the Munson partnership. On November 23, 2017, Marvin contributes property with an adjusted basis of $75,000 and a fair market value of $250,000 to the Munson partnership. On March 15, 2018, Marvin receives a $187,500 cash distribution from the partnership. a) Why would the IRS seek to classify the transactions as a disguised sale? b) . Assume that the IRS is successful in classifying the transactions as a disguised sale. Outline the income tax consequences to Marvin.
In: Accounting
Two separate capacitors, C1 and C2
C1 = 36 micro-Coulomb on 3 micro-Farad
C2 = 72 uC on 5 uF
C2 had a gap of 0.2m maintained by a compressed plastic spring inside the gap, the natural spring length was 0.5m, the compressed spring length was 0.2 m. Spring constant = 8,000 micro-Newton/ meter Action: Connected the two capacitors in parallel
Part A Find Q2-new, C2-new, new gap,
Part B Find the initial total energy, the final total energy
-use the energy formulas
In: Physics
1) a car battery is rated at 90 amphour. How much charge is available in the battery?
2) A +2.6 uc point charge is placed at the center of a cube with sides of length 7.5cm. What is the electric flux through two sides of the cube?
3) The amount of charge flowing though a circuit caries with time according to.. q(t)=(0.2t2-0.3t), with q in coulombs and t in seconds. Find the current through the circuit at t = 1.5 seconds.
4) Calculate the acceleration of an electron placed in a uniform electric field of magnitude 4.5*105 N/C.
In: Physics
Write a 200- to 400-word essay about the most important thing you learned while watching "Freedom of the Press." please answer based on the video- short video
watch this video by typing in youtube: Freedom of the Press: Crash Course Government and Politics #26
or link :https://www.youtube.com/watch?v=Vtpd0EbaFoQ&list=PL8dPuuaLjXtOfse2ncvffeelTrqvhrz8H&index=26
In: Economics