Use Python to write the following code.
Program Specifications:
You are to design the following menu:
G] Get a number
S] Display current sum
A] Display current average
H] Display the current highest number
L] Display the current lowest number
D] Display all numbers entered
Q] Quit
If the user enters G, S, A, H, L, or D before selecting G the program needs to advise the user to go and enter a number first.
Rules for the Programmer (you)
In: Computer Science
What messages did you learn about the comparative value of working with your hands (farming, trucking, carpentry, house cleaning), service work (practicing cosmetology, cashiering, waiting tables), or business or professional work (working as a programmer, teacher, nurse, business owner)? What are your thoughts now about these various kinds of work?
What did you learn as a child or teenager about what success meant and why some people are successful and some are not? Where did you learn those ideas?
If you or your family ever received public assistance, what was that like for you? If not, what messages did you receive from your family and teachers about people who did receive public assistance?
What did you learn in your childhood about people asking for help? Was this seen as a defeat or shameful act? Was this seen as an appropriate strategy to manage? Did it make any difference from whom one asked for help?
In: Psychology
Exercise 4-14 Tim Mattke Company began operations in 2018 and for simplicity reasons, adopted weighted-average pricing for inventory. In 2020, in accordance with other companies in its industry, Tim Mattke changed its inventory pricing to FIFO. The pretax income data is reported below.
| Year | Weighted-Average | FIFO |
| 2018 | $370,000 | $395,000 |
| 2019 | 390,000 | 430,000 |
| 2020 | 410,000 | 450,000 |
Q1
What is Tim Mattke’s net income in 2020? Assume a 20%
tax rate in all years.
| Net Income |
Q2
Compute the cumulative effect of the change in
accounting principle from weighted-average to FIFO inventory
pricing.
| Net effect |
Q3
Show comparative income statements for Tim Mattke Company, beginning with income before income tax, as presented on the 2020 income statement.
| 2020 | 2019 | 2018 | |
| Income before income tax | |||
| Income tax | |||
| Net income |
In: Finance
The comparative balance sheets of Coronado Inc. at the beginning
and the end of the year 2020 are as follows.
|
CORONADO INC. |
|||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
|
Dec. 31, 2020 |
Jan. 1, 2020 |
Inc./Dec. |
|||||||||
|
Assets |
|||||||||||
|
Cash |
$ 46,480 | $ 14,480 | $32,000 | Inc. | |||||||
|
Accounts receivable |
94,200 | 89,720 | 4,480 | Inc. | |||||||
|
Equipment |
42,200 | 23,720 | 18,480 | Inc. | |||||||
|
Less: Accumulated Depreciation-Equipment |
20,200 | 11,000 | 9,200 | Inc. | |||||||
|
Total |
$162,680 | $116,920 | |||||||||
|
Liabilities and Stockholders’ Equity |
|||||||||||
|
Accounts payable |
$ 23,200 | $ 16,720 | 6,480 | Inc. | |||||||
|
Common stock |
101,480 | 81,720 | 19,760 | Inc. | |||||||
|
Retained earnings |
38,000 | 18,480 | 19,520 | Inc. | |||||||
|
Total |
$162,680 | $116,920 | |||||||||
Net income of $47,200 was reported, and dividends of $27,680 were
paid in 2020. New equipment was purchased and none was sold.
Prepare a statement of cash flows for the year 2020.
(Show amounts that decrease cash flow with either a -
sign e.g. -15,000 or in parenthesis e.g.
(15,000).)
In: Accounting
The following data are from the accounts of Color Corp. at December 31, 2020
Retained earnings, beginning balance--------------------------------------------------------- $900,000
Common stock, $____ par, 100,000 shares authorized, 50,000 shares issued -----------------1,000,000
Treasury stock, 1,000 shares --------------------------------------------------------------------20,000
Paid-in capital in excess of par – Common stock ---------------------------------------------400,000
Bonds Payable ----------------------------------------------------------------------------------200,000
Net income for 2020 (not included in retained earnings above)-----------------------------190,000
Dividends declared and paid during 2020 (not included in retained earnings above)-------80,000
Required:
In: Accounting
Q1: On January 1, 2019, Yarmouth Inc. acquired 90% of Covington Co. by paying $477,000 cash. There is no active trading market for Covington stock. Covington Co. reported a Common Stock account balance of $140,000 and Retained Earnings of $280,000 at that date. The fair value of Covington Co. was appraised at $530,000. The total annual amortization was $11,000 as a result of this transaction. The subsidiary earned $198,000 in 2019 and $226,000 in 2020 with dividend payments of $42,000 each year. Without regard for this investment, Yarmouth had income of $308,000 in 2019 and $364,000 in 2020 (these numbers do not have investment income).
Prepare a proper presentation of consolidated net income and its allocation (Consolidated net income before allocation, NCI share of NI from Covington, and Consolidated Net income to Yarmouth) for 2020.
What is the noncontrolling interest balance as of December 31, 2020?
What is the investment balance as of December 31, 2020?
In: Accounting
Louise works in a foreign branch of her employer's business. She earned $5,000 per month throughout the relevant period. Which of the following is correct?
a.If Louise worked in the foreign branch from May 1, 2019 until October 31, 2020, she may exclude $40,000 from gross income in 2019 and exclude $50,000 in 2020.
b.If Louise began work in the foreign country on May 1, 2019, she must work through November 30, 2020 in order to exclude $55,000 from gross income in 2020 but none in 2019.
c.If Louise worked in the foreign branch from May 1, 2019 until October 31, 2020, she cannot exclude anything from gross income because she was not present in the country for 330 days in either year.
d.Louise will not be allowed to exclude any foreign earned income because she made less than $107,600.
In: Accounting
Ivan Manufacturing purchased equipment and a delivery van on January 1, 2020. The equipment cost $95,000 and has an estimated useful life of 8 years with a residual value of $10,000.
The delivery van cost $125,000 and has an estimated life of 5 years or 200,000 kilometres and a residual value of $20,000. The delivery truck is expected to be driven 25,000 and 50,000 kilometres in 2019 and 2020, respectively.
Required
|
2020 Depreciation |
2021 Depreciation |
|
|
Requirement # 1 |
||
|
Equipment – Straight-line method |
||
|
Equipment – Double-Declining method |
||
|
Requirement # 2 |
||
|
Delivery Van – Units-of-Production |
||
In: Accounting
On 30 June 2017 You Can Cook Pty Ltd purchased equipment at a cost of $625,000 (GST exclusive) with an estimated useful life of 10 years and no residual value. On 30 June 2020, the equipment had a carrying amount of $437 500.
On 30 June 2020 the same item of equipment was determined as having a recoverable amount of $350 000 and a remaining useful life of 7 years.
On 30 June 2023, the equipment was assessed as having a recoverable amount of $260 000 and a remaining useful life of 3 years.
All equipment is carried under the cost model.
Prepare the general journal entries to record the impairment of equipment and depreciation
under the cost model on 30 June 2020, 30 June 2023 and 30 June 2024.
Please note the depreciation expense for the equipment has not been recorded for the year 2020 (ended 30 June 2020).
Narrations are not required
|
General Journal |
|||
|
Date |
Account |
Debit |
Credit |
In: Accounting
The comparative balance sheets of Larkspur Inc. at the beginning
and the end of the year 2020 are as follows.
|
LARKSPUR INC. |
|||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
|
Dec. 31, 2020 |
Jan. 1, 2020 |
Inc./Dec. |
|||||||||
|
Assets |
|||||||||||
|
Cash |
$ 47,080 | $ 15,080 | $32,000 | Inc. | |||||||
|
Accounts receivable |
95,260 | 90,180 | 5,080 | Inc. | |||||||
|
Equipment |
43,260 | 24,180 | 19,080 | Inc. | |||||||
|
Less: Accumulated Depreciation-Equipment |
21,260 | 11,000 | 10,260 | Inc. | |||||||
|
Total |
$164,340 | $118,440 | |||||||||
|
Liabilities and Stockholders’ Equity |
|||||||||||
|
Accounts payable |
$ 24,260 | $ 17,180 | 7,080 | Inc. | |||||||
|
Common stock |
102,080 | 82,180 | 19,900 | Inc. | |||||||
|
Retained earnings |
38,000 | 19,080 | 18,920 | Inc. | |||||||
|
Total |
$164,340 | $118,440 | |||||||||
Net income of $48,260 was reported, and dividends of $29,340 were
paid in 2020. New equipment was purchased and none was sold.
Prepare a statement of cash flows for the year 2020.
(Show amounts that decrease cash flow with either a -
sign e.g. -15,000 or in parenthesis e.g.
(15,000).)
In: Accounting