Required information

Problem 17-2A Ratios, common-size statements, and trend percents LO P1, P2, P3

[The following information applies to the questions displayed below.]

Selected comparative financial statements of Korbin Company follow:

1. Complete the below table to calculate each year's current ratio.

2. Complete the below table to calculate income statement data in common-size percents. (Round your percentage answers to 2 decimal places.)

3. Complete the below table to calculate the balance sheet data in trend percents with 2015 as the base year. (Round your percentage answers to 2 decimal places.)

Recording Transactions (Including Adjusting and Closing Entries), Preparing Financial Statements, and Performing Ratio Analysis Ben and Kelly Perry began operations of their Roof repair company (Perry Roofing, Inc.) on January 1, 2015. The annual reporting period ends December 31. The trial balance on January 1, 2016, was as follows:

Transactions during 2016 follow:

a. Borrowed $28,000 cash on July 1, 2016, signing a one-year, 10 percent note payable.

b. Purchased equipment for $18,000 cash on July 1, 2016.

c. Sold 10,000 additional shares of capital stock for cash at $0.50 market value per share at the beginning of the year.

d. Earned $75,000 in revenues for 2016, including $16,000 on credit and the rest in cash.

e. Incurred remaining expenses of $35,000 for 2016, including $7,000 on credit and the rest paid with cash.

f. Purchased $3,000 of supplies on cash.

g. Collected accounts receivable, $8,000.

h. Paid accounts payable, $11,000.

i. Purchased $10,000 of supplies on account.

j. Received a $3,000 deposit on work to start January 15, 2017.

k. Declared and paid a cash dividend, $10,000.

Data for adjusting entries:

l. Supplies of $9,000 were counted on December 31, 2016.

m. Depreciation for 2016, $2,000.

n. Interest accrued on notes payable (to be computed).

o. Wages earned since the December 24 payroll but not yet paid, $3,000.

p. Income tax expense was $4,000, payable in 2017.

QUESTIONS TO ANSWER:

1. Set up T-accounts for the accounts on the trial balance and enter beginning balances.

2. Prepare journal entries for transactions (a) through (k) and post them to the T-accounts.

3. Journalize and post the adjusting entries (l) through (p).

4. Prepare an income statement (including earnings per share), statement of stockholders' equity, and balance sheet.

5. Identify the type of transaction for (a) through (k) for the statement of cash flows (O for operating, I for investing, F for financing), and the direction and amount of the effect.

6. Journalize and post the closing entry.

7. Compute the following ratios for 2016 and explain what the results suggest about the company:

a. Current ratio

b. Total asset turnover

c. Net profit margin

Lab 11. Simple Harmonic Motion

Introduction

Lots of things vibrate or oscillate. A vibrating tuning fork, a moving child’s playground swing, and the speaker in a headphone are all examples of physical vibrations. There are also electrical and acoustical vibrations, such as radio signals and the sound you get when blowing across the top of an open bottle. Adding heat to a solid increases the vibration of atoms and molecules. One simple system that vibrates is a mass hanging from a spring. The force applied by an ideal spring is proportional to how much it is stretched or compressed. Given this force behavior, the up and down motion of the mass is called simple harmonic and the position can be modeled with

y = Asin(2πft +ф)

In this equation, y is the vertical displacement from the equilibrium position, A is the amplitude of the motion, f is the frequency (number of oscillations per second), t is the time, and ф is a phase constant that tells us the value of y at t = 0. This experiment will clarify each of these terms. The frequency where k is the spring constant and m is the mass.

Objectives

• Measure the position and velocity as a function of time for an oscillating mass and spring system.
• Determine the amplitude, period, and phase constant of the observed simple harmonic motion.
• Compare the observed motion of a mass and spring system to a mathematical model of simple harmonic motion.

Task:

          Complete the tables

          Analysis Part 1: #3&4

          Extension: #6

3. Does the frequency, f, appear to depend on the amplitude of the motion? Do you have enough data to draw a firm conclusion?

4. Does the frequency, f, appear to depend on the mass used? Did it change much in your tests?

6. Did the introduction of damping have a significant effect on the frequency? On the damping coefficient?

Data Tables

Find the spring constant: k=                            

Ф=3.708

Mackenzie Inc. uses a perpetual inventory system and has prepared the following adjusted trial balance on December 31, 2016:

Mackenzie Inc.

ADJUSTED TRIAL BALANCE

December 31, 2016

CHART OF ACCOUNTSMackenzie Inc.General Ledger

Prepare the company’s closing entries on December 31.

PAGE 12

GENERAL JOURNAL

prepare the company’s income statement for 2016. Additional Instructions

Prepare the statement of retained earnings for 2016. Additional Instructions

Refer to the Chart of Accounts and the list of Labels and Amount Descriptions provided for the exact wording of the answer choices for text entries.

“Less:” or “Plus:” will appear automatically, if needed.

Use the minus sign to indicate all negative values. For ex: Less: Accumulated depreciation is entered -### for (###).

Prepare the balance sheet at December 31, 2016. Additional Instructions

You are a Junior Accountant for X-RAY Inc., and you receive from the CFO the following information which affects the Financial Statements of the company.

X-RAY Incorporate

Unadjusted Trial Balance 31.12.2016 Debit Credit

Required: Prepare the Journal, the Ledger, the adjusted Trial Balance, the Balance Sheet & Income Statement at 31/12/2016 considering the following business events not recorded yet in the financial statements.

Depreciation

You are performing the year-end adjustments at 31/12/2016

Journalize the necessary entries for the transactions listed below at 31/12/2016 closing.

a) Calculate the Annual Depreciation Expense for all the Tangible Assets listed in the table before.

b) Journalize the Depreciation adjustments entries.

Accruals & Deferrals

Journalize the necessary entries for the transactions listed below at 31/12/2016 closing.

a) X-Ray Inc., where you work pays in advance 5.000 € of Rent Expense. The Rent contract is annual, and is signed every 30/04.

b) X-Ray Inc., receives and pays in advance every two months the Water Supply bill. The last bill was dated on 01/12/2016 for the Water consumption of December’16 and January’17, for 250

€.

c) Collects from a good client, 30.000 €, for a sales project to be started during the month of January 2017.

d) In 2015, signed a Sales contract of 10.000 €, and was fully paid in advance. The X-Ray Inc. Chief Financial Officer (CFO), estimates that at 31/12/2016 the project is 50% done.

e) In December 2016, the Company is informed that one of its vehicles has received a fine of 140

€ because of high speed driving. The due-date of the fine is at 30/03/2017.

Accounts Receivables

In the following graph, you can see a break-down of Accounts Receivables, along with its due dates.

Required:

Your boss, the CFO, asks you to perform the Bad-Debts calculations at year end 31/12/2016. He gives you the following instructions. Journalize the following events at 31.12.2016, following the CFO instructions:

1-) All the Accounts Receivables which are unpaid for more than 90 days, must be written-off. 2-) Allocate an Allowance for Doubtful accounts of 50%, for all the remaining unpaid accounts. 3-) Allocate an Allowance for Doubtful accounts for 5% for the remaining amount of Accounts Receivables.

Notes Receivables

X- Ray Inc. experiences the following business events regarding some Notes Receivables:

a) At 01/09/2016, performs two Sale Projects to INKJET SL: Project A for 35.000 €, and Project B for 15.000 €. We agree to receive both payments with a Notes Receivable with a maturity of 60 days.

b) As we need Cash, the CFO decides to discount Project A Notes, with the Bank. The expenses for bank services were €100, and the interest for discounting the notes was 3% of the total Amount.

c) At the maturity date, the Bank informs us that the client has paid 50% of the Notes Receivables of Project A. Project B remains fully unpaid.

d) The CFO decides to allocate 100% of Allowance of Bad Debts for the remaining amounts because he has red in the newspaper that INKJET SL went bankrupt.

Loans

At 01/01/2016, your company signs a Loan contract with CAIXABANK to fund a new project, with the following conditions:

Loan Amount: 125.000 €. Interest Rate: 5%. Term: 5 years. Payment of Interests: In advance the day of the loan signature.

In c++ how do I search a vector for a name and then determine if the name is found?

Refactor the following classes so they are both derived from a base class called Person. Write the code for the new base class as well. Try to avoid repeating code as much as possible. Write the classes so that any common methods can be invoked through a pointer or reference to the base class.

#include <string>
#include <cmath>
using namespace std;

class Student
{
private:
string name;
   int age;
   int studyYear;
public:
   Student(string,int,int);
void study();
   void eat();
};

Student::Student(string _name, int _age, int _studyYear)
{
   name = _name;
   age = _age;
   studyYear = _studyYear;
}

void Student::study()
{
   cout << name << " is studying." <<endl;
}

void Student::eat()
{
   cout << name << " is eating." <<endl;
}

class Doctor
{
private:
string name;
   int age;
   int salary;
public:
   Doctor(string,int,int);
void checkup();
   void eat();
};

Doctor::Doctor(string _name, int _age, int _salary)
{
   name = _name;
   age = _age;
   salary = _salary;
}

void Doctor::checkup()
{
   cout << name << " is checking up." <<endl;
}

void Doctor::eat()
{
   cout << name << " is eating." <<endl;
}

In Angel, you will find a class called Employee. This class should include a constructor which sets name to blanks and salary to $0.00 and a constructor which sets name to a starting name and salary to a set amount. Additionally, the class should include methods to set the name and salary and return the name and salary. Create another method to return the name and salary nicely formatted as a string (hint – research the toString method).

You will create a new class called Manager that inherits from the class Employee. Add a field named department of type String. Supply a method toStringthat prints the manager's name, department, and salary. Remember, you may not change anything in the Employee class.

You will then create a test class that uses the Manager class. The test class should prompt the user to enter name, department and salary. This information should be stored in an array. Upon entry of 3 employee records, the program should output the information you entered.

Your program should be able to handle a maximum of 3 entries.

You may write the program as a console application or using dialog boxes.

please write a code using java. Make sure the code is correct for java eclipse.