Questions
Use Python to write the following code. Program Specifications: You are to design the following menu:...

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)

  1. Source code must use a dynamic list to store all numbers
  2. Source code must have a function for each of the menu options above (I guess even for quit too]
  3. Source code must have reasonable comments
  4. Source code must not allow the user to do bad things (you can assume they will enter a number if they press G or if you want to figure it out, yell at the user if he or she does not enter a number)

In: Computer Science

What messages did you learn about the comparative value of working with your hands (farming, trucking,...

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 andfor simplicity reasons, adopted weighted-average pricing...

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.

YearWeighted-AverageFIFO
2018$370,000$395,000
2019390,000430,000
2020410,000450,000

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.


202020192018
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...

The comparative balance sheets of Coronado Inc. at the beginning and the end of the year 2020 are as follows.

CORONADO INC.
BALANCE SHEETS

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,...

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:

  1. Determine the value of the following items. Type/write your response after each item where indicated.
    1. Total retained earnings at end of 2020
    2. Total stockholders’ equity
    3. Average original selling price per share
    4. Par value per share of common stock   
    5. Cost per share of treasury stock
    6. Number of shares of common stock outstanding

  1. Prepare the stockholders’ equity section of the balance sheet at December 31, 2020

In: Accounting

Q1: On January 1, 2019, Yarmouth Inc. acquired 90% of Covington Co. by paying $477,000 cash....

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...

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...

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

  1. Ivan has decided to depreciate the equipment using either the straight-line method or double declining method. Calculate depreciation for the equipment for 2020 and 2021 using the straight-line method AND the double declining method.
  2. Ivan has decided to depreciate the delivery van using the units-of-production method. Calculate depreciation for the delivery truck for 2020 and 2021.

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...

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...

The comparative balance sheets of Larkspur Inc. at the beginning and the end of the year 2020 are as follows.

LARKSPUR INC.
BALANCE SHEETS

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