Santana Rey, owner of Business
Solutions, decides to prepare a statement of cash flows for her
business using the following financial data.
|
BUSINESS SOLUTIONS |
|||||
|
Income Statement |
|||||
|
For Three Months Ended March 31, 2018 |
|||||
|
Computer services revenue |
$ |
24,407 |
|||
|
Net sales |
18,193 |
||||
|
Total revenue |
42,600 |
||||
|
Cost of goods sold |
$ |
14,452 |
|||
|
Depreciation expense—Office equipment |
400 |
||||
|
Depreciation expense—Computer equipment |
1,240 |
||||
|
Wages expense |
2,550 |
||||
|
Insurance expense |
465 |
||||
|
Rent expense |
1,775 |
||||
|
Computer supplies expense |
1,265 |
||||
|
Advertising expense |
540 |
||||
|
Mileage expense |
230 |
||||
|
Repairs expense—Computer |
890 |
||||
|
Total expenses |
23,807 |
||||
|
Net income |
$ |
18,793 |
|||
|
BUSINESS SOLUTIONS |
|||||||
|
Comparative Balance Sheets |
|||||||
|
December 31, 2017, and March 31, 2018 |
|||||||
|
Mar. 31, 2018 |
Dec. 31, 2017 |
||||||
|
Assets |
|||||||
|
Cash |
$ |
82,437 |
$ |
55,542 |
|||
|
Accounts receivable |
24,467 |
5,268 |
|||||
|
Inventory |
624 |
0 |
|||||
|
Computer supplies |
2,025 |
490 |
|||||
|
Prepaid insurance |
1,110 |
1,595 |
|||||
|
Prepaid rent |
815 |
815 |
|||||
|
Total current assets |
111,478 |
63,710 |
|||||
|
Office equipment |
7,000 |
7,000 |
|||||
|
Accumulated depreciation—Office equipment |
(800 |
) |
(400 |
) |
|||
|
Computer equipment |
19,300 |
19,300 |
|||||
|
Accumulated depreciation—Computer equipment |
(2,480 |
) |
(1,240 |
) |
|||
|
Total assets |
$ |
134,498 |
$ |
88,370 |
|||
|
Liabilities and Equity |
|||||||
|
Accounts payable |
$ |
0 |
$ |
1,140 |
|||
|
Wages payable |
945 |
570 |
|||||
|
Unearned computer service revenue |
0 |
2,000 |
|||||
|
Total current liabilities |
945 |
3,710 |
|||||
|
Equity |
|||||||
|
Common stock |
111,000 |
77,000 |
|||||
|
Retained earnings |
22,553 |
7,660 |
|||||
|
Total liabilities and equity |
$ |
134,498 |
$ |
88,370 |
|||
Required:
Prepare a statement of cash flows for Business Solutions using the
indirect method for the three months ended March 31, 2018.
Owner Santana Rey contributed $34,000 to the business in exchange
for additional stock in the first quarter of 2018 and has received
$3,900 in cash dividends. (Amounts to be deducted should be
indicated with a minus sign.)
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
In: Accounting
Santana Rey, owner of Business Solutions, decides to prepare a
statement of cash flows for her business using the following
financial data.
| BUSINESS SOLUTIONS | |||||
| Income Statement | |||||
| For Three Months Ended March 31, 2018 | |||||
| Computer services revenue | $ | 24,607 | |||
| Net sales | 18,493 | ||||
| Total revenue | 43,100 | ||||
| Cost of goods sold | $ | 14,552 | |||
| Depreciation expense—Office equipment | 390 | ||||
| Depreciation expense—Computer equipment | 1,190 | ||||
| Wages expense | 2,650 | ||||
| Insurance expense | 525 | ||||
| Rent expense | 1,575 | ||||
| Computer supplies expense | 1,255 | ||||
| Advertising expense | 560 | ||||
| Mileage expense | 260 | ||||
| Repairs expense—Computer | 950 | ||||
| Total expenses | 23,907 | ||||
| Net income | $ | 19,193 | |||
| BUSINESS SOLUTIONS | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Comparative Balance Sheets | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| December 31, 2017, and March 31, 2018 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Mar. 31, 2018 | Dec. 31, 2017 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Assets | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Cash | $ | 74,547 | $ | 53,022 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Accounts receivable | 23,967 | 5,268 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Inventory | 634 | 0 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Computer supplies | 2,005 | 560 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Prepaid insurance | 1,030 | 1,565 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Prepaid rent | 745 | 745 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Total current assets | 102,928 | 61,160 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Office equipment | 8,000 | 8,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Accumulated depreciation—Office equipment | (780 | ) | (390 | ) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Computer equipment | 19,900 | 19,900 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Accumulated depreciation—Computer equipment | (2,380 | ) | (1,190 | ) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Total assets | $ | 127,668 | $ | 87,480 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Liabilities and Equity | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Accounts payable | $ | 0 | $ | 1,180 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Wages payable | 915 | 540 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Unearned computer service revenue | 0 | 2,100 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Total current liabilities | 915 | 3,820 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Equity | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Common stock | 104,000 | 76,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Retained earnings | 22,753 | 7,660 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Total liabilities and equity | $ | 127,668 | $ | 87,480 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
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In: Accounting
WRITE 2 PARAGRAPHS IN YOUR OPINION ON HOW YOU AGREE WITH THEIR DISCUSSION ON WHY SINGLE PATROL IS BETTER.
A. Definitely a single patrol unit is more effective in my opinion all-way around. The pros are that this is a less expensive alternative rather than having a two person unit, for the most part a single person unit would be able to handle most calls, however in certain types of calls a two person unit would be most effective to have the extra man power in case it is needed. Some disadvantages to the single patrol unit is that in a worst case scenario you have to keep your ground and be able to fight off any possible threats until backup arrives. The advantage a two person unit has is exactly that, two persons that have the extra muscle to back each other up and cover more ground in situations where a fleeing suspect has fled the scene of a crime, etc. A disadvantage this creates for the agencies is that this is a more expensive alternative and the extra officer will not be able to cover another sector of the jurisdiction where crime could be taking place.
B. A single person patrol is when one person patrol a particular area, compared to two-person patrol is when two people are on patrol in a particular area. A single person patrol versus two-person patrol have advantages and disadvantages. In a single patrol they are more police officers in different areas. They are faster response on call, because the officer are very disperse. People will feel like they are getting better police protection. They will be less distractions due to they are alone. Disadvantage are they say it is impossible to observe properly and operate a vehicle require major attention. They cannot observe while preparing reports, during interrogations, and while answering questions. Two- person patrol will keep the other person from falling asleep. They are two people so in a immediate emergency they both are their for each other. It is better while one is busy the other can observe. In my opinion, they both have advantages and disadvantages but I think single patrol is better. They are more dispersed so they will get to emergency faster. If they need back up the back up is available within two minutes. They would be less distracted. The most important thing is that the people will feel safer due to faster response when in danger.
In: Psychology
Cost of Production Report
The debits to Work in Process—Roasting Department for Morning Brew Coffee Company for August, together with information concerning production, are as follows:
| Work in process, August 1, 800 pounds, 10% completed | $3,160* | |||
| *Direct materials (800 X $3.8) | $3,040 | |||
| Conversion (800 X 10% X $1.5) | $120 | |||
| $3,160 | ||||
| Coffee beans added during August, 25,000 pounds | 93,750 | |||
| Conversion costs during August | 40,112 | |||
| Work in process, August 31, 1,300 pounds, 50% completed | ? | |||
| Goods finished during August, 24,500 pounds | ? | |||
All direct materials are placed in process at the beginning of production.
a. Prepare a cost of production report, presenting the following computations:
If an amount is zero, enter in "0". For the cost per equivalent unit, round your answer to two decimal places.
| Morning Brew Coffee Company | |||
| Cost of Production Report-Roasting Department | |||
| For the Month Ended August 31 | |||
| Unit Information | |||
| Units charged to production: | |||
| Inventory in process, August 1 | |||
| Received from materials storeroom | |||
| Total units accounted for by the Roasting Department | |||
| Units to be assigned costs: | |||
| Equivalent Units | |||
| Whole Units | Direct Materials (1) | Conversion (1) | |
| Inventory in process, August 1 | |||
| Started and completed in August | |||
| Transferred to finished goods in August | |||
| Inventory in process, August 31 | |||
| Total units to be assigned costs | |||
| Cost Information | |||
| Costs per equivalent unit: | |||
| Direct Materials | Conversion | ||
| Total costs for August in Roasting Department | $ | $ | |
| Total equivalent units | |||
| Cost per equivalent unit (2) | $ | $ | |
| Costs assigned to production: | |||
| Direct Materials | Conversion | Total | |
| Inventory in process, August 1 | $ | ||
| Costs incurred in August | |||
| Total costs accounted for by the Roasting Department | $ | ||
| Costs allocated to completed and partially completed units: | |||
| Inventory in process, August 1 balance | $ | ||
| To complete inventory in process, August 1 | $ | $ | |
| Cost of completed August 1 work in process | $ | ||
| Started and completed in August | |||
| Transferred to finished goods in August (3) | $ | ||
| Inventory in process, August 31 (4) | |||
| Total costs assigned by the Roasting Department | $ | ||
b. Compute and evaluate the change in cost per equivalent unit for direct materials and conversion from the previous month (July). If required, round your answers to the nearest cent.
| Increase or Decrease | Amount | |
| Change in direct materials cost per equivalent unit | $ | |
| Change in conversion cost per equivalent unit |
In: Accounting
Cost of Production Report
The debits to Work in Process—Roasting Department for Morning Brew Coffee Company for August, together with information concerning production, are as follows:
| Work in process, August 1, 1,200 pounds, 50% completed | $5,460* | |||
| *Direct materials (1,200 X $3.8) | $4,560 | |||
| Conversion (1,200 X 50% X $1.5) | 900 | |||
| $5,460 | ||||
| Coffee beans added during August, 38,000 pounds | 142,500 | |||
| Conversion costs during August | 60,800 | |||
| Work in process, August 31, 2,000 pounds, 70% completed | ? | |||
| Goods finished during August, 37,200 pounds | ? | |||
All direct materials are placed in process at the beginning of production.
a. Prepare a cost of production report, presenting the following computations:
Direct materials and conversion equivalent units of production for August.
Direct materials and conversion costs per equivalent unit for August.
Cost of goods finished during August.
Cost of work in process at August 31.
If an amount is zero, enter in "0". For the cost per equivalent unit, round your answer to two decimal places.
| Morning Brew Coffee Company | |||
| Cost of Production Report-Roasting Department | |||
| For the Month Ended August 31 | |||
| Unit Information | |||
| Units charged to production: | |||
| Inventory in process, August 1 | |||
| Received from materials storeroom | |||
| Total units accounted for by the Roasting Department | |||
| Units to be assigned costs: | |||
| Equivalent Units | |||
| Whole Units | Direct Materials (1) | Conversion (1) | |
| Inventory in process, August 1 | |||
| Started and completed in August | |||
| Transferred to finished goods in August | |||
| Inventory in process, August 31 | |||
| Total units to be assigned costs | |||
| Cost Information | |||
| Cost per equivalent unit: | |||
| Direct Materials | Conversion | ||
| Total costs for August in Roasting Department | $ | $ | |
| Total equivalent units | |||
| Cost per equivalent unit (2) | $ | $ | |
| Costs assigned to production: | |||
| Direct Materials | Conversion | Total | |
| Inventory in process, August 1 | $ | ||
| Costs incurred in August | |||
| Total costs accounted for by the Roasting Department | $ | ||
| Costs allocated to completed and partially completed units: | |||
| Inventory in process, August 1 balance | $ | ||
| To complete inventory in process, August 1 | $ | $ | |
| Cost of completed August 1 work in process | $ | ||
| Started and completed in August | |||
| Transferred to finished goods in August (3) | $ | ||
| Inventory in process, August 31 (4) | |||
| Total costs assigned by the Roasting Department | $ | ||
b. Compute and evaluate the change in cost per equivalent unit for direct materials and conversion from the previous month (July). If required, round your answers to the nearest cent.
| Increase or Decrease | Amount | |
| Change in direct materials cost per equivalent unit | $ | |
| Change in conversion cost per equivalent unit | $ |
In: Accounting
Cost of Production Report
The debits to Work in Process—Roasting Department for Morning Brew Coffee Company for August, together with information concerning production, are as follows:
| Work in process, August 1, 1,200 pounds, 50% completed | $5,460* | |||
| *Direct materials (1,200 X $3.8) | $4,560 | |||
| Conversion (1,200 X 50% X $1.5) | 900 | |||
| $5,460 | ||||
| Coffee beans added during August, 38,000 pounds | 142,500 | |||
| Conversion costs during August | 60,800 | |||
| Work in process, August 31, 2,000 pounds, 70% completed | ? | |||
| Goods finished during August, 37,200 pounds | ? | |||
All direct materials are placed in process at the beginning of production.
a. Prepare a cost of production report, presenting the following computations:
Direct materials and conversion equivalent units of production for August.
Direct materials and conversion costs per equivalent unit for August.
Cost of goods finished during August.
Cost of work in process at August 31.
If an amount is zero, enter in "0". For the cost per equivalent unit, round your answer to two decimal places.
| Morning Brew Coffee Company | |||
| Cost of Production Report-Roasting Department | |||
| For the Month Ended August 31 | |||
| Unit Information | |||
| Units charged to production: | |||
| Inventory in process, August 1 | |||
| Received from materials storeroom | |||
| Total units accounted for by the Roasting Department | |||
| Units to be assigned costs: | |||
| Equivalent Units | |||
| Whole Units | Direct Materials (1) | Conversion (1) | |
| Inventory in process, August 1 | |||
| Started and completed in August | |||
| Transferred to finished goods in August | |||
| Inventory in process, August 31 | |||
| Total units to be assigned costs | |||
| Cost Information | |||
| Cost per equivalent unit: | |||
| Direct Materials | Conversion | ||
| Total costs for August in Roasting Department | $ | $ | |
| Total equivalent units | |||
| Cost per equivalent unit (2) | $ | $ | |
| Costs assigned to production: | |||
| Direct Materials | Conversion | Total | |
| Inventory in process, August 1 | $ | ||
| Costs incurred in August | |||
| Total costs accounted for by the Roasting Department | $ | ||
| Costs allocated to completed and partially completed units: | |||
| Inventory in process, August 1 balance | $ | ||
| To complete inventory in process, August 1 | $ | $ | |
| Cost of completed August 1 work in process | $ | ||
| Started and completed in August | |||
| Transferred to finished goods in August (3) | $ | ||
| Inventory in process, August 31 (4) | |||
| Total costs assigned by the Roasting Department | $ | ||
Feedback
b. Compute and evaluate the change in cost per equivalent unit for direct materials and conversion from the previous month (July). If required, round your answers to the nearest cent.
| Increase or Decrease | Amount | |
| Change in direct materials cost per equivalent unit | Decrease | $ |
| Change in conversion cost per equivalent unit | Increase | $ |
In: Accounting
The Cutting Department of Tangu Carpet Company provides the following data for December 2016. Assume that all materials are added at the beginning of the process.
| Work in process, December 1, 14,600 units, 80% completed | $178,704* | |
| *Direct materials (14,600 × $9.2) | $134,320 | |
| Conversion (14,600 × 80% × $3.8) | 44,384 | |
| $178,704 | ||
| Materials added during December from Weaving Department, 224,800 units | $2,101,880 | |
| Direct labor for December | 385,960 | |
| Factory overhead for December | 471,728 | |
| Goods finished during December (includes goods in process, December 1), 227,400 units | — | |
| Work in process, December 31, 12,000 units, 35% completed | — |
a. Prepare a cost of production report for the Cutting Department. If an amount is zero or a blank, enter in "0". For the The rate used to allocate costs between completed and partially completed production.cost per equivalent unit computations, round your answers to two decimal places.
| Tangu Carpet Company | |||
| Cost of Production Report-Cutting Department | |||
| For the Month Ended December 31, 2016 | |||
| Unit Information | |||
| Units charged to production: | |||
| Inventory in process, December 1 | |||
| Received from Weaving Department | |||
| Total units accounted for by the Cutting Department | |||
| Units to be assigned costs: | |||
| Equivalent Units | |||
| Whole Units | Direct Materials | Conversion | |
| Inventory in process, December 1 | |||
| Started and completed in December | |||
| Transferred to finished goods in December | |||
| Inventory in process, December 31 | |||
| Total units to be assigned cost | |||
| Cost Information | |||
| Costs per equivalent unit: | |||
| Direct Materials | Conversion | ||
| Total costs for December in Cutting Department | $ | $ | |
| Total equivalent units | |||
| Cost per equivalent unit | $ | $ | |
| Costs assigned to production: | |||
| Direct Materials | Conversion | Total | |
| Inventory in process, December 1 | $ | ||
| Costs incurred in December | |||
| Total costs accounted for by the Cutting Department | $ | ||
| Costs allocated to completed and partially completed units: | |||
| Inventory in process, December 1 balance | $ | ||
| To complete inventory in process, December 1 | $ | ||
| Cost of completed December 1 work in process | $ | ||
| Started and completed in December | $ | ||
| Transferred to finished goods in December | $ | ||
| Inventory in process, December 31 | |||
| Total costs assigned by the Cutting Department | $ | ||
Feedback
b. Compute and evaluate the change in cost per equivalent unit for direct materials and conversion from the previous month (November). If required, round your answers to two decimal places.
| Increase or Decrease | Amount | |
| Change in direct materials cost per equivalent unit |
|
$ |
| Change in conversion cost per equivalent unit |
|
$ |
In: Accounting
In: Physics
|
Group1 |
Group2 |
d |
|
5.6 |
6.4 |
-0.8 |
|
1.3 |
1.5 |
-0.2 |
|
4.7 |
4.6 |
0.1 |
|
3.8 |
4.3 |
-0.5 |
|
2.4 |
2.1 |
0.3 |
|
5.5 |
6 |
-0.5 |
|
5.1 |
5.2 |
-0.1 |
|
4.6 |
4.5 |
0.1 |
|
3.7 |
4.5 |
-0.8 |
In: Statistics and Probability
Enter your answer in the provided box. The solubility of N2 in blood at 37° C and at a partial pressure of 0.80 atm is 5.6 × 10−4 mol/L. A deep-sea diver breathes compressed air with the partial pressure of N2 equal to 3.8 atm. Assume that the total volume of blood in the body is 4.8 L. Calculate the amount of N2 gas released (in liters at 37° C and 1.00 atm) when the diver returns to the surface of the water, where the partial pressure of N2 is 0.80 atm.
In: Chemistry