July 31, 2016, the end of the quarter, is on a Wednesday. Employees get paid each Friday for the week just worked. The company has five employees who earn $100 each per day. Make the Accrued Salaries Expense journal entry for Wednesday, July 31, 2016. Enter the date, accounts, debit and credit, and be sure to indent the credit line.

Taxpayer places in service new equipment for $800,000 (7 year property) on August 15, and elects immediate expensing of the maximum amount:

2016 2018

Cost of equipment

179 deduction

additional first year depreciation

amount subject to MACRS (MACRS rate .1429)

Total cost recovery allowed in 2016

What is same facts but under 2018 law?

Cost of Goods Sold and Income Statement

Schuch Company presents you with the following account balances taken from its December 31, 2016, adjusted trial balance:

Additional data:

1. A physical count reveals an ending inventory of $22,500 on December 31, 2016.
2. Twenty-five thousand shares of common stock have been outstanding the entire year.
3. The income tax rate is 30% on all items of income.

Required:

1. Prepare a separate schedule for Schuch's cost of goods sold.

2. Prepare a 2016 multiple-step income statement. Round earnings per share computations to the nearest cent.

3. Prepare a 2016 single-step income statement. Round earnings per share computations to the nearest cent.

Useful Art Inc. creates and manufactures objects that are characterized by both utility and artistry. One of its most popular products is the trivet (a 3-legged hot plate). The top of each trivet is a unique, handmade ceramic tile. Useful Art buys the tiles from artists and the trivet legs from a metal-working company, then assembles the trivets in-house. Towards the end of 2015, Useful Art prepares monthly budgets for 2016 using the following assumptions and data:

2015 actual sales:

Jan 300 u

Apr 350 u

Feb 325 u

May 345 u

Mar 275 u

Jun 370 u

Selling price per unit 50 $/u

Useful Art plans to launch a marketing campaign in 2016 that should increase sales (units) by 10% over 2015 sales as long as the selling price remains unchanged. Because each trivet is unique, management wants to have a substantial number of trivets on hand at all times so that customers can choose from among many options. So management plans to have 20% of next month's sales (units) on hand at the end of each month. The artists from whom Useful Art purchases the ceramic tiles do great work, but are sometimes a bit unreliable as to when they deliver the tiles. So management wants to have 30% of next month's production needs (tiles) on hand at the end of each month. The metal-working supplier is very reliable, so management wants to have just 15% of next month's production needs (legs) on hand at the end of each month Useful Art pays $35 per tile. • Useful Art pays $.45 per leg. • Useful Art has collected the following data related to cash inflows from sales: 20% of sales revenues are collected in the month of sale 70% of sales revenues are collected in the month after the sale 10% of sales revenues are collected two months after the sale

REQUIRED: Prepare the following budgets on a monthly basis for Useful Art for 2016: 1. Sales Budget (first two quarters of 2016) 2. Production Budget (first quarter of 2016) 3. Materials Purchases Budget (tiles) (first quarter of 2016) 4. Materials Purchases Budget (legs) (first quarter of 2016) 5. Cash Receipts (AKA Cash Collections) Budget (second quarter of 2016)

Lasko Trial Balance as of 12/31/17 each account has a normal balance.

Use this financial information to answer the questions below.

1) What is the gross profit for Lasko for the year ended 12/31/17?

• $67,600

• $72,400

• $92,600

• $140,000

• 2) Using the Lasko Trial Balance as given above, then the most likely total for owner equity at 12/31/2017?

• $151,500

• $126,500

• $121,500

• $80,000

• 3) Using the Lasko Trial Balance as given above and that Lasko had a gross profit ratio (gross margin ratio) for 2016 of 50%, you can determine that for Lasko which of the following is true?

• Their ability to generate profit from sales is worse than for the year 2016.

• Their ability to generate profit from sales is better than for the year 2016.

• Their ability to generate profit from sales is unchanged compared to the year 2016.

• Can’t determine the gross profit ratio (gross margin ratio)in 2017 – not enough information.

• 4) Using the Lasko Trial Balance as given above and that Lasko had a current ratio for 2016 of 1.5:1; you can determine that for Lasko which of the following is true?

• Their ability to pay short term obligations is worse than at the end of 2016.

• Their ability to pay short term obligations is better than at the end of 2016.

• Their ability to pay short term obligations is unchanged compared to the end of 2016.

• 5) Assuming that the only depreciable asset is the office equipment, the information shown in the trial balance indicates that the office equipment has been used by Lasko for how many years?

• 5 Years

• 4 Years

• 3 Years

• 2 Years

• 6) Looking at the Lasko Trial Balance for accuracy and based on what accounts are already listed, which of the following accounts should be included but are not?

• Supplies expense

• Interest expense

• Allowance for Doubtful Accounts

• All of the above accounts would be expected.

Topics Loops while Statement Description Write a program that computes the letter grades of students in a class from knowing their scores in a test. A student test score varies from 0 to 100. For a student, the program first asks the student’s name and the student’s test score. Then, it displays the student name, the test score and the letter grade. It repeats this process for each student. The user indicates the end of student data by entering two consecutive forward slashes ( // ) when asked for the student name. At the end, the program displays a summary report including the following: · The total number of students. · The total number of students receiving grade “A”. · The total number of students receiving grade “B”. · The total number of students receiving grade “C”. · The total number of students receiving grade “D”. · The total number of students receiving grade “F”. The program calculates a student's the letter grade from the student's test score as follows: A is 90 to 100 points B is 80 to 89 points C is 70 to 79 points D is 60 to 69 points F is 0 to 59 points. Requirements Do this exercise using a While statement and an If/Else If statement. Testing For turning in the assignment, perform the test run below using the input data shown Test Run (User input is shown in bold). Enter Student Name Alan Enter Student Score 75 Alan 75 C Enter Student Name Bob Enter Student Score: 90 Bob 90 A Enter Student Name Cathy Enter Student Score 80 Cathy 80 B Enter Student Name Dave Enter Student Score: 55 Dave 55 F Enter Student Name Eve Enter Student Score 85 Eve 85 B Enter Student Name // Summary Report Total Students count 5 A student count 1 B student count: 2 C student count 1 D student 0 F students 1 Sample Code string name; double score; //Initias setup cout << "Enter student name" << endl; cin >> name; //Test while (name != "//") { cout << "Enter student score" << endl; cin >> score; //more code here //Update setup out << "Enter student name" << endl; cin >> name; } //display summary report

• The file pokedex.txt contains partial information about 31 Pokémon that mostly come from this Pokédex.

Assignment

• Using pokedex.py as a starting point, supply the missing functions such that interaction with a user could produce this transcript.

Pokedex.py:

1,bulbasaur,318,grass,poison
2,ivysaur,405,grass,poison
3,venusaur,525,grass,poison
4,charmander,309,fire
5,charmeleon,405,fire
6,charizard,534,fire,flying
7,squirtle,314,water
8,wartortle,405,water
9,blastoise,530,water
10,caterpie,195,bug
11,metapod,205,bug
12,butterfree,395,bug,flying
13,weedle,195,bug,poison
14,kakuna,205,bug,poison
15,beedrill,395,bug,poison
16,pidgey,251,normal,flying
17,pidgeotto,349,normal,flying
18,pidgeot,479,normal,flying
19,rattata,253,normal
20,raticate,413,normal
21,spearow,262,normal,flying
22,fearow,442,normal,flying
23,ekans,288,poison
24,arbok,448,poison
25,pikachu,320,electric
26,raichu,485,electric,psychic
27,sandshrew,300,ground
28,sandslash,450,ground
29,nidoran,275,poison
30,nidorina,365,poison
810,yeet,777,steel,fire,water,grass,electric,psychic,ice,dragon,dark,fairy,???

Transcript:

1. Print Pokedex
2. Print Pokemon by Name
3. Print Pokemon by Number
4. Count Pokemon with Type
5. Print Average Pokemon Combat Points
6. Quit

Enter a menu option: 1

The Pokedex
-----------
Number: 1, Name: Bulbasaur, CP: 318: Type: grass and poison
Number: 2, Name: Ivysaur, CP: 405: Type: grass and poison
Number: 3, Name: Venusaur, CP: 525: Type: grass and poison
Number: 4, Name: Charmander, CP: 309: Type: fire
Number: 5, Name: Charmeleon, CP: 405: Type: fire
Number: 6, Name: Charizard, CP: 534: Type: fire and flying
Number: 7, Name: Squirtle, CP: 314: Type: water
Number: 8, Name: Wartortle, CP: 405: Type: water
Number: 9, Name: Blastoise, CP: 530: Type: water
Number: 10, Name: Caterpie, CP: 195: Type: bug
Number: 11, Name: Metapod, CP: 205: Type: bug
Number: 12, Name: Butterfree, CP: 395: Type: bug and flying
Number: 13, Name: Weedle, CP: 195: Type: bug and poison
Number: 14, Name: Kakuna, CP: 205: Type: bug and poison
Number: 15, Name: Beedrill, CP: 395: Type: bug and poison
Number: 16, Name: Pidgey, CP: 251: Type: normal and flying
Number: 17, Name: Pidgeotto, CP: 349: Type: normal and flying
Number: 18, Name: Pidgeot, CP: 479: Type: normal and flying
Number: 19, Name: Rattata, CP: 253: Type: normal
Number: 20, Name: Raticate, CP: 413: Type: normal
Number: 21, Name: Spearow, CP: 262: Type: normal and flying
Number: 22, Name: Fearow, CP: 442: Type: normal and flying
Number: 23, Name: Ekans, CP: 288: Type: poison
Number: 24, Name: Arbok, CP: 448: Type: poison
Number: 25, Name: Pikachu, CP: 320: Type: electric
Number: 26, Name: Raichu, CP: 485: Type: electric and psychic
Number: 27, Name: Sandshrew, CP: 300: Type: ground
Number: 28, Name: Sandslash, CP: 450: Type: ground
Number: 29, Name: Nidoran, CP: 275: Type: poison
Number: 30, Name: Nidorina, CP: 365: Type: poison
Number: 810, Name: Yeet, CP: 777: Type: steel and fire and water and grass and electric and psychic and ice and dragon and dark and fairy and ???

1. Print Pokedex
2. Print Pokemon by Name
3. Print Pokemon by Number
4. Count Pokemon with Type
5. Print Average Pokemon Combat Points
6. Quit

Enter a menu option: 2
Enter a Pokemon name: RAICHU
Number: 26, Name: Raichu, CP: 485: Type: electric and psychic

1. Print Pokedex
2. Print Pokemon by Name
3. Print Pokemon by Number
4. Count Pokemon with Type
5. Print Average Pokemon Combat Points
6. Quit

Enter a menu option: 2
Enter a Pokemon name: raichump
There is no Pokemon named raichump

1. Print Pokedex
2. Print Pokemon by Name
3. Print Pokemon by Number
4. Count Pokemon with Type
5. Print Average Pokemon Combat Points
6. Quit

Enter a menu option: 3
Enter a Pokemon number: 26
Number: 26, Name: Raichu, CP: 485: Type: electric and psychic

1. Print Pokedex
2. Print Pokemon by Name
3. Print Pokemon by Number
4. Count Pokemon with Type
5. Print Average Pokemon Combat Points
6. Quit

Enter a menu option: 3
Enter a Pokemon number: 34
There is no Pokemon number 34

1. Print Pokedex
2. Print Pokemon by Name
3. Print Pokemon by Number
4. Count Pokemon with Type
5. Print Average Pokemon Combat Points
6. Quit

Enter a menu option: 4
Enter a Pokemon type: Normal
Number of Pokemon that contain type normal = 7

1. Print Pokedex
2. Print Pokemon by Name
3. Print Pokemon by Number
4. Count Pokemon with Type
5. Print Average Pokemon Combat Points
6. Quit

Enter a menu option: 4
Enter a Pokemon type: ???
Number of Pokemon that contain type ??? = 1

1. Print Pokedex
2. Print Pokemon by Name
3. Print Pokemon by Number
4. Count Pokemon with Type
5. Print Average Pokemon Combat Points
6. Quit

Enter a menu option: 4
Enter a Pokemon type: unknown
Number of Pokemon that contain type unknown = 0

1. Print Pokedex
2. Print Pokemon by Name
3. Print Pokemon by Number
4. Count Pokemon with Type
5. Print Average Pokemon Combat Points
6. Quit

Enter a menu option: 5
Average Pokemon combat points = 370.71

1. Print Pokedex
2. Print Pokemon by Name
3. Print Pokemon by Number
4. Count Pokemon with Type
5. Print Average Pokemon Combat Points
6. Quit

Enter a menu option: 6
Thank you.  Goodbye!

Grading - 100 points

• 20 points. The class Pokemon is defined (2 points) with the appropriate six methods (3 points each).
• 5 points. The function print_menu is correct.
• 10 points. The function print_pokedex is correct.
• 10 points. The function lookup_by_name is correct when the Pokémon is present (7 points) and absent (3 points).
• 10 points. The function lookup_by_number is correct when the number is present (7 points) and absent (3 points).
• 10 points. The function total_by_type is correct when the type is present (7 points) and absent (3 points).
• 10 points. The function average_hit_points is correct.
• 10 points. The format of the output matches the format of the output in the transcript exactly. (2 points for each type of difference up to 10 points.)
• 15 points - The Python solution is properly commented, easy to understand and does not contain unnecessary code. (3 points for each type of improvement up to 15 points.)

2. Create a new project named named lab5_2. You will prompt the user for an amount of names to enter, and then ask for that amount of names. You’ll store these names in a vector of strings. Then you’ll sort the vector. Finally, you’ll print the results.

How many names?: 4

Enter a name: Leonardo

Enter a name: Donatello

Enter a name: Michelangelo

Enter a name: Raphael

====================

Alphabetized

====================

Donatello                 

Leonardo

Michelangelo         

            Raphael