The following is a partial trial balance for General Lighting
Corporation as of December 31, 2018:
| Account Title | Debits | Credits |
| Sales revenue | 2,500,000 | |
| Interest revenue | 83,000 | |
| Loss on sale of investments | 24,000 | |
| Cost of goods sold | 1,220,000 | |
| Loss from write-down of inventory due to obsolescence | 230,000 | |
| Selling expenses | 330,000 | |
| General and administrative expenses | 165,000 | |
| Interest expense | 82,000 | |
200,000 shares of common stock were outstanding throughout 2018.
Income tax expense has not yet been recorded. The income tax rate
is 40%.
Required:
1. Prepare a single-step income statement for
2018, including EPS disclosures.
2. Prepare a multiple-step income statement for
2018, including EPS disclosures.
Required 1
Required 2
Prepare a single-step income statement for 2018, including EPS disclosures. (Round EPS answer to 2 decimal places.)
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2
Required 2
Prepare a multiple-step income statement for 2018, including EPS disclosures. (Round EPS answer to 2 decimal places. Amounts to be deducted should be indicated with a minus sign.)
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In: Accounting
At the end of 2017 fiscal year, L&Z Co. has the following information:
Balance Sheets
Current Assets
Accounts receivable, net of allowance of $1,076 $16,194
a) During 2018, the company wrote off $200 of specific accounts that were deemed uncollectable. Prepare the journal entry to record the write-off of these accounts receivable. (4 pts)
b) At the end of 2018 (12/31/2018), management estimate 8% of account receivables balance will likely be difficult to collect. The company’s Accounts Receivable has a gross ending balance of $17,600 . Prepare the journal entry to record bad debt expense for 2018 using the percentage of receivables method (the balance sheet approach). (8 pts)
c) If credit sales for 2018 were $118,000, compute the amount of cash collected from customers in 2018 (note: take into account the event in part a). (6 pts)
d) On Oct 1st , 2018, the company sold coal to Beta Electric, receiving a 6-month, noninterest-bearing note for $100,000. The effective interest rate on the note is 8%. The company has a fiscal year-end of 12/31. (10 pts)
ii. Prepare adjusting journal entries regarding the note receivable on 12/31/2018. (4 pts)
In: Accounting
14. Emily, who lives in Indiana, volunteered to travel to
Louisiana in March to work on a home-building project for
Habitat for Humanity (a qualified charitable organization). She was
in Louisiana for three weeks. She normally
makes $500 per week as a carpenter’s assistant and plans to deduct
$1,500 as a charitable contribution. In addition,
she incurred the following costs in connection with the trip: $600
for transportation, $1,200 for lodging, and $400 for
meals. What is Emily’s deduction associated with this charitable
activity?
| a. $600 |
| b. $1,200 |
| c. $1,800 |
| d. $2,200 |
In 2018, Joanne invested $90,000 for a 20% interest in a limited
liability company (LLC) in which she is a material
participant. The LLC reported losses of $340,000 in 2018 and
$180,000 in 2019. Joanne’s share of the LLC’s losses
was $68,000 in 2018 and $36,000 in 2019. How much of these losses
can Joanne deduct?
| a. $68,000 in 2018; $36,000 in 2019. |
| b. $68,000 in 2018; $22,000 in 2019. |
| c. $0 in 2018; $0 in 2019. |
| d. $68,000 in 2018; $0 in 2019. |
Rex and Dena are married and have two children, Michelle (age 7)
and Nancy (age 5). During 2018, Rex earned a
salary of $24,500, received interest income of $300, and filed a
joint income tax return with Dena. Dena had $0 gross
income. Their earned income credit for the year is:
| a. $5,621 |
| b. $5,426 |
| c. $5,716 |
| d. $0 |
In: Accounting
E16-16.
(EPS: Simple Capital Structure)
(LO 4) On January 1, 2018, Wilke Corp. had 480,000 shares of common stock outstanding. During 2018, it had the following transactions that affected the common stock account.
|
February 1 |
Issued 120,000 shares |
|
March 1 |
Issued a 10% stock dividend |
|
May 1 |
Acquired 100,000 shares of treasury stock |
|
June 1 |
Issued a 3-for-1 stock split |
|
October 1 |
Reissued 60,000 shares of treasury stock |
Instructions
(a)
Determine the weighted-average number of shares outstanding as of December 31, 2018.
(b)
Assume that Wilke Corp. earned net income of $3,456,000 during 2018. In addition, it had 100,000 shares of 9%, $100 par nonconvertible, noncumulative preferred stock outstanding for the entire year. Because of liquidity considerations, however, the company did not declare and pay a preferred dividend in 2018. Compute earnings per share for 2018, using the weighted-average number of shares determined in part (a).
(c)
Assume the same facts as in part (b), except that the preferred stock was cumulative. Compute earnings per share for 2018.
(d)
Assume the same facts as in part (b), except that net income included a loss from discontinued operations of $432,000 (net of tax). Compute earnings per share for 2018.
please explain detail ( i know the answer but i don't understand)
In: Accounting
Section A – Hotel Business in Hong Kong Question A1 Answer the below short questions (a) to (i) according to A Statistical Review of Hong Kong Tourism 2018, published by Hong Kong Tourism Board in June 2019.
a) What is the total number of visitor arrival to Hong Kong upon 2018? How many visitors stayed overnight?
b) Identify Hong Kong’s top THREE source markets of visitors’ arrival to Hong Kong in 2018.
c) Which month contained the highest visitor arrivals number in 2018?
d) Briefly describe the hotel performance in 2018.
e) Which hotel category noted a highest gain percentage in room occupancy compare with 2017?
f) State TWO districts which recorded the highest room occupancy rate in Hong Kong.
g) In 2017, which department in the hotel earn the second highest revenue and what is the total percentage.
h) Refer to the hotel room occupancy rate and average achieved hotel room rate in 2018, illustrate TWO indicators or messages reflected from those figures.
i) The percentage distribution of visitor arrivals by months 2018 were quite steady along the year, the range of percentage starting from 7.2% to 10.1%. If you were the manager of a hotel, try to briefly explain the reasons behind of the distributions. (For example: What is/are the factor(s) may affect the percentage of arrival on Dec 2018.)
In: Operations Management
describe the relationship between health care cost and quality. Address the following:
Select one public agency and one private agency and
differentiate their roles and major activities in addressing cost
and quality in health care. See Topic 4 readings for sources
regarding health care agencies.
Analyze current and projected initiatives to improve quality while
simultaneously controlling costs. Describe any unintended
consequences.
*Synthesize implications for staff nurses and advanced practice
nurses, including evidence-based practice, relative to cost and
quality.*
Prepare in APA Style. Help please!. Size 500-1000 words. Topic. Cost and quality analysis
* very important. Please provide references and inline citations. Thanks
In: Nursing
Using your textbook, LIRN, JSTOR, other electronic journals and/or periodicals, and the Internet, develop an APA paper that provides an in-depth analysis - complete with examples and research-based in-text citations to include the following topics:
How statistics is used by business to assist in making more effective decisions
Characteristics related to all type of statistics (descriptive and inferential) such as populations, samples, types of variables, levels of measurement, etc.
Frequency tables and distributions, including histograms and frequency polygons
Central tendency, to include the arithmetic mean and median values, mode, geometric mean, and standard deviation
The displaying of data and statistical results, such as box plot, stem-leaf, etc.
The concept of probability and the various types of events
In: Statistics and Probability
Discussion Prompt
Interview a charge nurse and a manager, discuss their vision and approach to teamwork. Ask them the pros and cons of teams and how dysfunctional teams can affect the work environment. How do they correct the dysfunction?
Post your takeaways (at least five) from your interviews and include-
Expectations
Initial Post:
In: Nursing
What should a patient do if he wants a blood test but his doctor will not order it? Include in your answer a discussion of the fact that patients can now order and pay for a variety of blood tests without their doctor's permission or prescription. See http://www.lef.org/Vitamins-Supplements/Blood-Tests/.
Explain why so many elderly patients feel their hospital attending physicians have abandoned them when the physicians say things like "at your age, there is nothing more e can do?" and pressure the patients and families to get the patients out of the hospital and into nursing homes.
Be sure to list your reference and use in-text citations to give credit to your source.
In: Nursing
In: Nursing