Using the partial Unadjusted Trial Balance at yearend June 30, 2020 below prepare the annual adjusting journal entries in proper general journal form for the below transactions and answer additional questions. Please record all your answers in the journal entry table provided.

Account Title   Dr. $   Cr. $
Prepaid Insurance   24,000.00     
Notes Receivable    5,500.00     
Shop Supplies   2,700.00     
Delivery Vehicle   40,000.00     
Accumulated Depreciation - Delivery Vehicle      0.00
Unearned Service Revenue      10,000.00
Notes Payable        5,000.00

a) January 1, 2020 a new delivery vehicle was purchased for $40,000. The delivery vehicle has an estimated salvage value of $4,000 and has a estimated useful life of 5 years. Record the depreciation.

b) Accrued revenues at year end totalled $4,200.

c) Employees are paid bi-weekly on Fridays. The total biweekly wage expense for all employees is $10,000. The last pay day was Friday, June 26, 2020 for work to the end of June 26, 2020. Employees do not work weekends.
d)The Notes Payable represents a loan received on April 1, 2020. Interest is accrued at 3% per year. Both the interest and principal are payable on March 31, 2020.

e) At year end it was determined that $1,000 of the Shop Supplies had been used. What is the adjusted ending balance in the Shop Supplies account at year end. Please state whether it will be a debit or credit balance.

The unadjusted inventory balance of Ultim Corp. is $100,000 on December 31, 2020, based on a physical inventory count. The following items must be considered before the inventory valuation is finalized.

a. On December 31, the physical inventory excluded $250 of merchandise inventory set aside for shipment to a customer, which has not yet shipped.

b. On December 31, the physical inventory excluded $1,000 of merchandise inventory out on consignment in the customers’ showrooms.

c. On December 31, the physical inventory excluded $800 of merchandise held on consignment.

d. $750 of in-transit merchandise was shipped f.o.b. destination to a customer and was excluded from the physical inventory count. The merchandise was turned over to a common carrier on December 28, 2020, and is expected to arrive at the customer on January 2, 2021.

e. Ultim Corp. ordered merchandise on December 26, 2020. The merchandise ($800) was shipped to Ultim Corp. f.o.b. shipping point, and was expected to arrive January 2, 2021. The merchandise was not included in the physical inventory count.

f. A return to a vendor of merchandise for $1,000 was in-transit on December 31, 2020, and was excluded from the physical inventory count. The merchandise was shipped f.o.b. shipping point on December 30, 2020.

Required

Considering items a through f, determine the adjusted inventory balance for Ultim Corp.

Raleigh Department Store uses the conventional retail method for the year ended December 31, 2019. Available information follows: The inventory at January 1, 2019, had a retail value of $46,000 and a cost of $29,160 based on the conventional retail method. Transactions during 2019 were as follows: Cost Retail Gross purchases $ 291,540 $ 500,000 Purchase returns 6,000 11,000 Purchase discounts 5,100 Gross sales 500,000 Sales returns 8,500 Employee discounts 3,500 Freight-in 27,000 Net markups 26,000 Net markdowns 11,000 Sales to employees are recorded net of discounts. The retail value of the December 31, 2020, inventory was $61,800, the cost-to-retail percentage for 2020 under the LIFO retail method was 64%, and the appropriate price index was 103% of the January 1, 2020, price level. The retail value of the December 31, 2021, inventory was $49,290, the cost-to-retail percentage for 2021 under the LIFO retail method was 63%, and the appropriate price index was 106% of the January 1, 2020, price level.

1. Estimate ending inventory for 2019 using the conventional retail method.

2. Estimate ending inventory for 2019 assuming Raleigh Department Store used the LIFO retail method

3. Assume Raleigh Department Store adopts the dollar-value LIFO retail method on January 1, 2020. Estimating ending inventory for 2020 and 2021.

E16.5 NEWTON INC USES A CALENDAR YEAR FOR FINANCIAL REPORTING. THE COMPANY IS AUTHORIZED TO ISSUE 9,000,000 SHARES OF 10 PAR COMMON STOCK. AT NO TIME HAS NEWTON ISSUED ANY POTENTIALLY DILUTIVE SECURITIES. LISTED BELOW IS A SUMMARY OF NEWTON'S COMMON STOCK ACTIVITIES

1.NUMBER OF COMMON SHARES ISSUED AND OUTSTANDING AT DECEMBER 31 2018 2,000,000

2. SHARES ISSUED AS A RESULT OF 10% STOCK DIVIDEND ON SEPTEMBER 30 2019. 200,000

3. SHARES ISSUED FOR CASH ON MARCH 31 2020 2,000,000

NUMBER OF COMMON SHARES ISSUED AND OUTSTANDING AT DECEMBER 31 2020 4,200,000

4. A 2-FOR-1 STOCK SPLIT OF NEWTON'S COMMON STOCK TOOK PLACE ON. MARCH 31 2021

A. COMPUTE THE WEIGHTED-AVERAGE OF COMMON SHARES USED IN COMPUTING EARNINGS PER COMMON SHAREFOR 2019 ON THE 2020. COMPARATIVE INCOME STATEMENT

B. COMPUTE THE WEIGHTED AVERAGE NUMBER OF COMMON SHARES USED IN COMPUTING EARNINGS PER COMMON SHARE FOR 2020 ON THE 2020 COMPARATIVE INCOME STATEMENT

C. COMPUTE THE WEIGHTED AVERAGE NUMBER OF COMMON SHARES TO BE USED IN COMPUTING EARNINGS PER COMMON SHARE FOR 2020 ON THE 2021 COMPARATIVE INCOME STATEMENT

D. COMPUTE THE WEIGHTED AVERAGE NUMBER OF COMMON SHARES TO BE USED IN COMPUTING EARNINGS OER COMMON SHARE FOR 2021 ON THE 2021 COMPARATIVE INCOME STATEMENT

Recording Notes Receivable: Issuance, Payment, and Default Marydale Products permits its customers to defer payment by giving personal notes instead of cash. All the notes bear interest and require the customer to pay the entire note in a single payment 6 months after issuance. Consider the following transactions, which describe Marydale's experience with two such notes: On October 31, 2019 Marydale accepts a 6-month, 12% note from Customer A in lieu of a $3,600 cash payment for merchandise delivered on that day. On February 28, 2020 Marydale accepts a 6-month, $2,100, 12% note from Customer B in lieu of a $2,100 cash payment for merchandise delivered on that day. On April 30, 2020 Customer A pays the entire note plus interest in cash. On August 31, 2020 Customer B pays the entire note plus interest in cash. Required: Prepare the necessary journal and adjusting entries required to record Transactions a through d in Marydale's records. For a compound transaction, if an amount box does not require an entry, leave it blank. a. Oct. 31, 2019 Record sale Dec. 31, 2019 Record accrued interest income b. Feb. 28, 2020 Record sale c. Apr. 30, 2020 Record collection of note receivable d. Aug. 31, 2020 Record collection of note receivable

Soccer regulations are that the ball be an air-filled sphere with a circumference of 68-70 cm, and a mass of 410-450 g. The 2010 FIFA world cup “Jabulani” ball had a circumference of 69 cm and a mass of 440 g. This ball is also specified to have 0% water absorption. The ball is kicked into a deep puddle; what fraction of the volume of this ball floats above the surface of the water?

Using the Conrad & Barker (2010) reading:

What is one key finding of social constructionism? Explain and provide examples.

Have you noticed this before in daily life and/or the medical field?

After reading the links on BMI:

How is BMI socially constructed?

Is using BMI a good indicator of health? Why or why not?

Has the use of BMI by the medical field influenced your perception of health? Discuss.

Given the year end prices of the following stocks, estimate the expected return of a portfolio of 30% AAA and 70% BBB. Enter your answer as a percent without the % sign. Round your final answer to two decimals.

Find the average annual growth rate of the dividends for each firm listed in the following table.