(Comparing Cash versus Accrual Reports) The Professional Persons Association of Middleton is a nonprofit organization that is subject to the provisions of Audits of Certain Nonprofit Organizations. That dues for members are $40 per year; the fiscal year ends on August 31. Prior to September 1, 2015, 410 members had paid their dues for the year ended August 31, 2016. Prior to September 1, 2016, 457 members had paid their dues for the year ended August 31, 2017; one of these died suddenly on August 30, 2016, and the governing board decided to return his check to his widow. During the fiscal year ended on August 31, 2016, 36 other members died; 15 members were dropped for nonpayment of dues; and 1 member was expelled – no dues refunds were made to the estates of the 36 decedents; a $20 refund was made to the person expelled. Offsetting these membership decreases, 123 new members joined in fiscal 2016; membership as of September 1, 2015, had been 2,980 persons. (457 members are included). Members admitted during a year are charged dues for the full year.

The association has reported membership dues revenue on the cash basis in prior years. You bring to the attention of the governing board the requirement that financial statements should be on the accrual basis, unless cash basis statements are not materially different. Since you are so knowledgeable, the board asks you to compute membership dues revenue for fiscal 2016 on both the cash basis and the accrual basis and to report to them the amount on each basis and your conclusion as to whether the difference between the two is material.

Part B

The following details are for questions 16–20. Each individual question will appear below the details.

Caterpillar Inc (CAT) has the following excerpts from their financial statements:

Inventories are stated at the lower of cost or market. Cost is principally determined using the last-in, first-out (LIFO) method. The value of inventories on the LIFO basis represented about 60 percent of total inventories at December 31, 2016 and 2015.

If the FIFO (first-in, first-out) method had been in use, inventories would have been $1,639 million and $2,498 million higher than reported at December 31, 2016 and 2015, respectively.

Assume a corporate tax rate of 35%.

Question

If CAT had used FIFO method instead of LIFO method...

The amount CAT’s 2016 net cash from operations would change by (rounded to the nearest million):

Group of answer choices

$301 Million increase

$126 Million increase

$76 Million decrease

No change in cash from operations

If CAT had used FIFO method instead of LIFO method...

Net profit (loss) CAT would report in 2016 (rounded to the nearest million) is:

− $300 Million (loss)

+ $359 Million (profit)

+ $200 Million (profit)

− $625 Million (loss)

The cumulative amount of income tax savings that CAT generated through 2016 by using LIFO instead of FIFO (rounded to the nearest million) is:

PLEASE answer number 2 (worksheet) I am really struggling with it.

Below is the unadjusted trial balance for Walton Anvils as of December 31, 2016, and the data for the adjustments. There is also an Excel Template for this problem that you may download and use (or you may use your own).

Adjustment Data

Requirements

1.Open T-accounts using the balances in the unadjusted trial balance.

2.Complete the worksheet for the year ended December 31, 2016.

3.Prepare the adjusting entries and post to the T-accounts.

4.Prepare the adjusted trial balance.

5.Prepare the income statement, the statement of retained earnings, and the classified balance sheet in report form.

6.Prepare the closing entries and post to the T-accounts.

7.Prepare a post-closing trial balance.

8.Calculate the current ratio for the company.

Identifiable Intangibles and Goodwill, U.S. GAAP

International Foods, a U.S. company, acquired two companies in 2016. As a result, its consolidated financial statements include the following acquired intangibles:

Goodwill was assigned to the following reporting units:

It is now December 31, 2017, the end of International Foods' accounting year. No impairment losses were reported on any intangibles in 2016. Assume that International Foods bypasses the qualitative option for impairment testing of goodwill and indefiite life intangibles.

Required

Compute 2017 amortization expense and impairment losses on the above intangibles, following U.S. GAAP.

P 19–12 EPS; nonconvertible preferred stock; treasury shares; shares sold; stock dividend; options LO19–4 through LO19–8, LO19–10 (Note: This is a variation of P19–12, modified to include stock options.) On December 31, 2015, Dow Steel Corporation had 600,000 shares of common stock and 300,000 shares of 8%, noncumulative, nonconvertible preferred stock issued and outstanding. Dow issued a 4% common stock dividend on May 15 and paid cash dividends of $400,000 and $75,000 to common and preferred shareholders, respectively, on December 15, 2016. On February 28, 2016, Dow sold 60,000 common shares. In keeping with its long-term share repurchase plan, 2,000 shares were retired on July 1. Dow’s net income for the year ended December 31, 2016, was $2,100,000. The income tax rate is 40%. As part of an incentive compensation plan, Dow granted incentive stock options to division managers at December 31 of the current and each of the previous two years. Each option permits its holder to buy one share of common stock at an exercise price equal to market value at the date of grant and can be exercised one year from that date. Information concerning the number of options granted and common share prices follows: The market price of the common stock averaged $32 per share during 2016.

Date Granted Options Granted Share Price

(Adjusted for the stock dividend)

December 31, 2014 8,000 $24

December 31, 2015 3,000 $33

December 31, 2016 6,500 $32

Required: Compute Dow’s earnings per share for the year ended December 31, 2016.

Compare the financial reports from Disney, Hilton Worldwide, Starwood, Intercontinental, Marriott International, and Marriott Vacations.

Disney Company:

Hilton Worldwide:

Starwood Hotels:

Key Financials

(In USD as of 06/30/2016)

Marriott International:

Marriott Vacations:

REQUIREMENT: Create THE MASTER BUDGET (Please Include Operating Budget and Financial Budget, please do not include Budget Statement of Cash Flows) for the year ended December 31, 2016 for Fabulous Accessories Inc. ( Please show the calculations)

Estimated Sales:

Wallets: East Region Sales Volume 287,000. West Region Sales Volume 241,000. Unit Selling Price $12.

Handbags: East Region Sales Volume 156,400. West Region Sales Volume 123,600. Unit Selling Price $25.

Estimated Inventory, January 1,2016: Wallet 88,000. Handbags 48,000.

Desired Inventory , December 31, 2016: Wallets 80,000. Handbags 60,000.

Estimated direct material quantity and price for each unit:

Wallet : Leather 0.30 sq. yd.per unit. Lining: 0.10 sq. yd. per unit.

Handbag: Leather 1.25 sq. yd. per unit. Lining: .050 sq.yd. per unit.

Estimated Direct Materials Inventory, January 1, 2016: Leather 18,000 sq. yds. Lining 15,000 sq. yds.

Desired Direct Materials Inventory, December 31, 2016: Leather 20,000 sq. yds. Lining 12,000 sq. yds.

Estimated price per square yard of leather and lining during 2016: Leather $4.50. Lining $1.20

Estimated Direct Labor Quantity and Rate:

Wallet: Cutting Department: 0.10 hr. per unit. Sewing Department: 0.25 hr. per unit

Handbag: Cutting Department: 0.15 hr. per unit. Sewing Department: 0.40 hr. per unit

Hourly rate: Cutting Department $12. Sewing Department $15

Factory Overhead Budget for the year ending December 31, 2016 are as follow:

Indirect factory wages $732,800

Supervisor Salaries: $360,000

Power and light $306,000

Depreciation of plant and equipment $288,000

Indirect materials $182,800

Maintenance $140,280

Insurance and property taxes $79,200. Total factory overhead cost $2,089,080

Estimated Inventory January 1, 2016:

Direct materials: Leather $81,000(18,000 sq. yds. x $4.50)

Lining $18,000(15,000 sq. yds. x $1.20)

Total direct materials $99,000

Work in process $ 214,000. Finished goods $1,095,600

Desired Inventory December 31, 2016:

Direct materials: Leather $90,000(20,000 sq. yds. x $4.50)

Lining $14,400(12,000 sq. yds. x $1.20)

Total direct materials $104,400

Work in process $220,000. Finished goods $1,565,000

Selling and Administrative Expense Budget for the year 2016:

Selling Expenses: Sales salaries expenses $715,000

Advertising expense 360,000

Travel expense 115,000

Total selling expense $1,190,000

Administrative expense: Officers' salaries expense $360,000

Office salaries expense 258,000

Office rent expense 34,500

Office supplies expense 17,500

Miscellaneous administrative expenses 25,000

Total administrative expenses $695,000

Total selling and administrative expenses $1,885,000

Capital Expenditure Budget for the five years ending December 31, 2020:

Machinery-Cutting Department: 2016:$400,000. 2019:$280,000. 2020:$360,000

Machinery-Sewing Department: 2016:$274,000. 2017: $260,000. 2018: $560,000. 2019:$200,000

Office equipment:2017: $90,000. 2020: $60,000

Total: 2016: $674,000. 2017: $350,000. 2018: $560,000. 2019: $480,000. 2020: $420,000

Cutting Machine-to be purchased in January 2016

Cutting Machine-to be purchased in April 2016

Cash Budget:

Estimated cash receipts: receipts from sales on account: From prior month's sales on account 40% - From current month's sales on account 60%

Estimated cash payments: payments of manufacturing costs on account: From prior month's manufacturing costs 25%- From current month's manufacturing costs 75%

Budget Balance Sheet: December 31, 2015:

Current Assets: Cash $225,000. Account Receivable $480,000. Direct Materials Inventory $99,000. Work in Process Inventory $214,400. Finished Goods Inventory $1,095,600. Land $1,000,000. Building and Equipment 1,000,000. Accumulated depreciation -400,000. Total $3,714,000.

Liabilities and Stockholders' Equity: Current Liabilities: Account Payable 190,000. Income Taxes Payable 150,000

Stockholders' Equity : Common Stock, 100,000 shares outstanding $10-par $1,000,000. Retained earnings $2,374,000. Total $3,714,000

Name two priority actions that the nurse must complete for the laboring mom, post-delivery.

Name two Priority actions that the nurse must complete, related to the newborn

1. Name and describe 2 complications of a bone fracture
2. Besides pulmonary hygiene, name 3 nursing priorities for an immediate post-operative patient that had corrective surgery for scoliosis
3. When assessing neurovascular status, describe how circulation, movement, and sensation (CMS) is assessed in a patient with a casted limb
4. Name and describe 4 signs of Duchenne muscular Dystrophy (DMD)
5. Describe 4 complications related to myelomeningocele (spina bifida)

Question 1: In the NCBI database, retrieve the nucleotide sequences NG011676. Report:

1. Gene name, database name.

2. Number of exons and its position (the start and the end of each exon).

3. The start and the end of coding region (CDS)

4. Accession number of protein from this gene and the length of polypeptide.

Question 2: Use NG011676 to run GenScan. Report the results and compare the results with information of this gene from Question 1.
Question 3: Use NG011676 to run FGENESH with selecting of Homo sapiens as organism specific gene-finding parameters. Report the results and compare the results with information of this gene from Question 1.