Questions
Required information Exercise 13-8 Liquidity analysis and interpretation LO P3 [The following information applies to the...

Required information

Exercise 13-8 Liquidity analysis and interpretation LO P3

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

Simon Company’s year-end balance sheets follow.

At December 31 2017 2016 2015
Assets
Cash $ 26,619 $ 31,115 $ 32,412
Accounts receivable, net 89,000 62,100 53,200
Merchandise inventory 114,500 83,000 57,000
Prepaid expenses 8,572 8,168 3,601
Plant assets, net

217,041

208,489 184,487
Total assets $ 455,732 $ 392,872 $ 330,700
Liabilities and Equity
Accounts payable $ 112,342 $ 65,731 $ 43,216
Long-term notes payable secured by
mortgages on plant assets
84,821 89,457 72,354
Common stock, $10 par value 162,500 162,500 162,500
Retained earnings 96,069 75,184 52,630
Total liabilities and equity $ 455,732 $ 392,872 $ 330,700


The company’s income statements for the years ended December 31, 2017 and 2016, follow. Assume that all sales are on credit:

For Year Ended December 31 2017 2016
Sales $ 592,452 $ 467,518
Cost of goods sold $ 361,396 $ 303,887
Other operating expenses 183,660 118,282
Interest expense 10,072 10,753
Income taxes 7,702 7,013
Total costs and expenses 562,830 439,935
Net income $ 29,622 $ 27,583
Earnings per share $ 1.82 $ 1.70

(1) Compute days' sales uncollected.

Days' Sales Uncollected
Choose Numerator: / Choose Denominator: x Days = Days' Sales Uncollected
/ x = Days' Sales Uncollected
2017: / x = 0 days
2016: / x = 0 days

(2) Compute accounts receivable turnover.

Accounts Receivable Turnover
Choose Numerator: / Choose Denominator: = Accounts Receivable Turnover
/ = Accounts receivable turnover
2017: / = times
2016: / = times

(3) Compute inventory turnover.

Inventory Turnover
Choose Numerator: / Choose Denominator: = Inventory Turnover
/ = Inventory turnover
2017: / = times
2016: / = times

(4) Compute days' sales in inventory.

Days’ Sales In Inventory
Choose Numerator: / Choose Denominator: x Days = Days’ Sales In Inventory
/ x = Days’ sales in inventory
2017: / x = 0 days
2016: / x = 0 days

In: Finance

Amortization and Impairment Testing of Identifiable Intangible Assets During the year ended July 30, 2016, Cisco...

Amortization and Impairment Testing of Identifiable Intangible Assets

During the year ended July 30, 2016, Cisco Systems, Inc. acquired the following identifiable intangible assets through its purchase of two companies (in thousands):

Limited Lives Indefinite Lives
Technology Customer Relationships IPR&D

Acquired Company

(in thousands)

Useful life
(in years)
Amount Useful life
(in years)
Amount Amount
Lancope, Inc 5 $79,000 6 $29,000 $121,000
Jasper Technologies, Inc 6 240,000 7 75,000 23,000


Cisco acquired Lancope, Inc. in December 2015, and Jasper Technologies, Inc. in March 2016. Cisco separately tests identifiable intangibles acquired from each company for impairment, and collects the following information to conduct impairment tests at the end of fiscal 2016 (in thousands):

Technology Customer Relationships IPR&D

Acquired Company

(in thousands)

Sum of
expected
undiscounted
cash flows
Sum of
expected
discounted
cash flows
Sum of
expected
undiscounted
cash flows
Sum of
expected
discounted
cash flows
Sum of
expected
undiscounted
cash flows
Sum of
expected
discounted
cash flows
Lancope, Inc $70,000 $65,000 $25,000 $20,000 $130,000 $105,000
Jasper Technologies, Inc 200,000 150,000 80,000 65,000 30,000 26,000

Required

a. Calculate amortization expense for the above identifiable intangibles for fiscal 2016. Intangibles are amortized on a straight-line basis starting in the month following acquisition.

  • Round answers to the nearest whole number.
  • Enter answers in thousands.
Acquired Company Technology Customer
Relationships
Lancope, Inc. $Answer $Answer
Jasper Technologies, Inc. Answer Answer

b. Calculate impairment losses for fiscal 2016.

  • Round answers to the nearest whole number.
  • Enter answers in thousands.
Acquired Company Technology Customer
Relationships
IPR&D
Lancope, Inc. $Answer $Answer $Answer
Jasper Technologies, Inc. Answer Answer Answer

c. Determine the amounts reported on Cisco’s fiscal 2016 balance sheet for technology, customer relationships, and in-process R&D.

  • Round answers to the nearest whole number.
  • Enter answers in thousands.
Amounts reported on Cisco's fiscal 2016 balance sheet
Technology $Answer
Customer Relationships Answer
IPR&D Answer

In: Accounting

Amortization and Impairment Testing of Identifiable Intangible Assets During the year ended July 30, 2016, Cisco...

Amortization and Impairment Testing of Identifiable Intangible Assets

During the year ended July 30, 2016, Cisco Systems, Inc. acquired the following identifiable intangible assets through its purchase of two companies (in thousands):

Limited Lives Indefinite Lives
Technology Customer Relationships IPR&D

Acquired Company

(in thousands)

Useful life
(in years)
Amount Useful life
(in years)
Amount Amount
Lancope, Inc 5 $79,000 6 $29,000 $121,000
Jasper Technologies, Inc 6 240,000 7 75,000 23,000


Cisco acquired Lancope, Inc. in December 2015, and Jasper Technologies, Inc. in March 2016. Cisco separately tests identifiable intangibles acquired from each company for impairment, and collects the following information to conduct impairment tests at the end of fiscal 2016 (in thousands):

Technology Customer Relationships IPR&D

Acquired Company

(in thousands)

Sum of
expected
undiscounted
cash flows
Sum of
expected
discounted
cash flows
Sum of
expected
undiscounted
cash flows
Sum of
expected
discounted
cash flows
Sum of
expected
undiscounted
cash flows
Sum of
expected
discounted
cash flows
Lancope, Inc $70,000 $65,000 $25,000 $20,000 $130,000 $105,000
Jasper Technologies, Inc 200,000 150,000 80,000 65,000 30,000 26,000

Required

a. Calculate amortization expense for the above identifiable intangibles for fiscal 2016. Intangibles are amortized on a straight-line basis starting in the month following acquisition.

  • Round answers to the nearest whole number.
  • Enter answers in thousands.
Acquired Company Technology Customer
Relationships
Lancope, Inc. $Answer $Answer
Jasper Technologies, Inc. Answer Answer

b. Calculate impairment losses for fiscal 2016.

  • Round answers to the nearest whole number.
  • Enter answers in thousands.
Acquired Company Technology Customer
Relationships
IPR&D
Lancope, Inc. $Answer $Answer $Answer
Jasper Technologies, Inc. Answer Answer Answer

c. Determine the amounts reported on Cisco’s fiscal 2016 balance sheet for technology, customer relationships, and in-process R&D.

  • Round answers to the nearest whole number.
  • Enter answers in thousands.
Amounts reported on Cisco's fiscal 2016 balance sheet
Technology $Answer
Customer Relationships Answer
IPR&D Answer

In: Accounting

Described below are six independent and unrelated situations involving accounting changes. Each change occurs during 2016...

Described below are six independent and unrelated situations involving accounting changes. Each change occurs during 2016 before any adjusting entries or closing entries were prepared. Assume the tax rate for each company is 40% in all years. Any tax effects should be adjusted through the deferred tax liability account.

a.

Fleming Home Products introduced a new line of commercial awnings in 2015 that carry a one-year warranty against manufacturer’s defects. Based on industry experience, warranty costs were expected to approximate 3% of sales. Sales of the awnings in 2015 were $4,400,000. Accordingly, warranty expense and a warranty liability of $132,000 were recorded in 2015. In late 2016, the company’s claims experience was evaluated and it was determined that claims were far fewer than expected: 2% of sales rather than 3%. Sales of the awnings in 2016 were $4,900,000 and warranty expenditures in 2016 totaled $111,475.

b.

On December 30, 2012, Rival Industries acquired its office building at a cost of $1,180,000. It was depreciated on a straight-line basis assuming a useful life of 40 years and no salvage value. However, plans were finalized in 2016 to relocate the company headquarters at the end of 2020. The vacated office building will have a salvage value at that time of $790,000.

c.

Hobbs-Barto Merchandising, Inc., changed inventory cost methods to LIFO from FIFO at the end of 2016 for both financial statement and income tax purposes. Under FIFO, the inventory at January 1, 2016, is $780,000.

d.

At the beginning of 2013, the Hoffman Group purchased office equipment at a cost of $429,000. Its useful life was estimated to be 10 years with no salvage value. The equipment was depreciated by the sum-of-the-years’-digits method. On January 1, 2016, the company changed to the straight-line method.

e.

In November 2014, the State of Minnesota filed suit against Huggins Manufacturing Company, seeking penalties for violations of clean air laws. When the financial statements were issued in 2015, Huggins had not reached a settlement with state authorities, but legal counsel advised Huggins that it was probable the company would have to pay $290,000 in penalties. Accordingly, the following entry was recorded:


  Loss—litigation 290,000
       Liability—litigation 290,000


     Late in 2016, a settlement was reached with state authorities to pay a total of $449,000 in penalties.

f.

At the beginning of 2016, Jantzen Specialties, which uses the sum-of-the-years’-digits method, changed to the straight-line method for newly acquired buildings and equipment. The change increased current year net earnings by $544,000.

Prepare any journal entry necessary as a direct result of the change as well as any adjusting entry for 2016 related to the situation described. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)

1

Record journal entry as a direct result of the change.

2

Record adjusting entry for change in warranty.

3

Record journal entry as a direct result of the change.

4

Record adjusting entry for depreciation.

5

Record journal entry as a direct result of the change.

6

Record the adjusting entry for change in inventory cost method.

7

Record journal entry as a direct result of the change.

8

Record adjusting entry for depreciation.

9

Record journal entry as a direct result of the change.

10

Record the adjusting entry for revision of liability.

11

Record journal entry as a direct result of the change.

12

Record the adjusting entry for change in depreciation method from sum-of-the-years’-digits method to straight-line method.

In: Accounting

/** * This class implements a basic Binary Search Tree that supports insert and get operations....

/**
* This class implements a basic Binary Search Tree that supports insert and get operations. In
* addition, the implementation supports traversing the tree in pre-, post-, and in-order. Each node
* of the tree stores a key, value pair.
*
* @param <K> The key type for this tree. Instances of this type are used to look up key, value
* pairs in the tree.
* @param <V> The value type for this tree. An instance of this type is stored in every node, along
* with a key.
*/
public class BST<K extends Comparable<K>, V> {

/**
* Interface for
*
* @param <K> the key type that the traverser works with
* @param <V> the value type that the traverser works with
*/
public interface Traverser<K, V> {

/**
* Method that is called for every visited node.
*
* @param key the key stored in the visited node
* @param value the value stored in the visited node
*/
public void visit(K key, V value);

}

/**
* A tree traverser that prints all values stored in the visited nodes.
*/
private static class IntegerValuePrintTraverser implements Traverser<Integer, Integer> {

/**
* This method is called for every visited node, printing the value stored in the node.
*/
public void visit(Integer key, Integer value) {
System.out.println(value);
}

}

/**
* Nested node class for the tree. Stores a key, value pair and has references to left and right
* child.
*/
private class Node {

public K key = null;
public V value = null;

public Node left = null;
public Node right = null;

/**
* Construct a tree node for a give key, value pair.
*
* @param key The key stored in the node. This determines where in the tree the node will be
* inserted.
* @param value The value stored in the node alongside the key.
*/
public Node(K key, V value) {
this.key = key;
this.value = value;
}

}

// the root node reference for the tree; is null is tree is empty
private Node root = null;
// number of nodes stored in the tree
private int size;

/**
* Insert a new key, value pair into the tree.
*
* @param key
* @param value
* @throws IllegalArgumentException if key is null or if key is already present in tree
*/
public void insert(K key, V value) {
if (key == null) {
throw new IllegalArgumentException("null key not allowed");
}
this.root = this.insertRecursive(this.root, key, value);
this.size++;
}

/**
* Recursive helper method for the public insert method. Recursively traverses the tree and find
* the spot to insert given key.
*
* @param node node that is currently visited
* @param key the key to insert
* @param value the value to insert
* @return return the node that is visits to (re-)attach it to the tree
*/
private Node insertRecursive(Node node, K key, V value) {

if (node == null) {
return new Node(key, value);
} else if (node.key.equals(key)) {
throw new IllegalArgumentException("no duplicate keys allowed");
} else if (node.key.compareTo(key) < 0) {
// new key is larger than current key
node.right = insertRecursive(node.right, key, value);
return node;
} else {
// new key is smaller then current key
node.left = insertRecursive(node.left, key, value);
return node;
}

}

/**
* Retrieve value that is stored for given key in the tree.
*
* @param key the key to look for in the tree
* @throws IllegalArgumentException if key is null
* @return value for key or null if key does not exist in tree
*/
public V get(K key) {
if (key == null) {
throw new IllegalArgumentException("null key not allowed");
}
Node n = getNodeForKey(this.root, key);
if (n == null)
return null;
return n.value;
}

/**
* Recursive helper method for the public insert method. Recursively traverses the tree and find
* the spot to insert given key.
*
* @param node node that is currently visited
* @param key the key to insert
* @param value the value to insert
* @return return the node that is visits to (re-)attach it to the tree
*/
private Node getNodeForKey(Node n, K key) {
if (n == null) {
return null;
} else if (n.key.equals(key)) {
return n;
} else if (n.key.compareTo(key) < 0) {
return getNodeForKey(n.right, key);
} else {
return getNodeForKey(n.left, key);
}
}

/**
* Starts a postorder traversal of the tree.
*
* @param t the traverser to do the traversal with
*/
public void postOrderTraversal(Traverser<K, V> t) {
this.postOrderTraversal(this.root, t);
}

/**
* Helper method that traverses the tree recursively in postorder and calls the traverser for
* every node.
*
* @param n the node that is currently visited
* @param t the traverser to do the traversal with
*/
private void postOrderTraversal(Node n, Traverser<K, V> t) {
if (n != null) {
postOrderTraversal(n.left, t);
postOrderTraversal(n.right, t);
t.visit(n.key, n.value);
}
}

/**
* Starts a preorder traversal of the tree.
*
* @param t the traverser to do the traversal with
*/
public void preOrderTraversal(Traverser<K, V> t) {
this.preOrderTraversal(this.root, t);
}

/**
* Helper method that traverses the tree recursively in preorder and calls the traverser for every
* node.
*
* @param n the node that is currently visited
* @param t the traverser to do the traversal with
*/
private void preOrderTraversal(Node n, Traverser<K, V> t) {
if (n != null) {
t.visit(n.key, n.value);
preOrderTraversal(n.left, t);
preOrderTraversal(n.right, t);
}
}

/**
* Starts an inorder traversal of the tree.
*
* @param t the traverser to do the traversal with
*/
public void inOrderTraversal(Traverser<K, V> t) {
this.inOrderTraversal(this.root, t);
}

/**
* Helper method that traverses the tree recursively in inorder and calls the traverser for every
* node.
*
* @param n the node that is currently visited
* @param t the traverser to do the traversal with
*/
private void inOrderTraversal(Node n, Traverser<K, V> t) {
if (n != null) {
inOrderTraversal(n.left, t);
t.visit(n.key, n.value);
inOrderTraversal(n.right, t);
}
}

  
/**
* Main method with a demo for the tree traverser.
*
* @param args the command line arguments passed when running the program
*/
public static void main(String args[]) {
BST<Integer, Integer> bst = new BST<Integer, Integer>();
// map keys to their squares (values)
bst.insert(7, 49);
bst.insert(2, 4);
bst.insert(10, 100);
bst.insert(1, 1);
bst.insert(8, 64);
System.out.println("pre order traversal:");
bst.preOrderTraversal(new IntegerValuePrintTraverser());
System.out.println("in order traversal:");
// TODO: replace this in order traversal's IntegerValuePrintTraverser object with
// the object of an anonymous class that only prints the keys (not the values)
// in the visited nodes
bst.inOrderTraversal(new IntegerValuePrintTraverser());
System.out.println("post order traversal:");
// TODO: replace this post order traversal's IntegerValuePrintTraverser object with
// the object of a lambda expression that prints both the key and value in the
// visited nodes
bst.postOrderTraversal(new IntegerValuePrintTraverser());
}

}

  1. implement another Traverser that only prints the keys of visited nodes. Implement the traverser using an anonymous class, and replace the new IntegerValuePrintTraverser object passed to the inOrderTraversal method (in BST's main method) with the object created by the anonymous class.
  2. Then implement an additional Traverser that prints both keys and values of visited nodes. Implement the traverser using a lambda expression, and replace the new IntegerValuePrintTraverser object passed to the postOrderTraversal method (in BST's main method) with the object created by the lambda expression.

In: Computer Science

Create your own data. Ensure the data will test all criteria and prove all sorts worked...

Create your own data. Ensure the data will test all criteria and prove all sorts worked as required. Be sure that all tables and queries have descriptive names. “Query 1” and “Step 1” are examples of poor names.

Step 1

Build a Database named DBMS Course Project. The database should include the following tables:

  • First Table – Students
    • ID
    • First Name
    • Last Name
    • Address
    • City
    • State
    • Zip Code
    • Phone Number with area code
  • Second Table – GPA
    • ID Current GPA (two decimal positions)
    • Class (numeric field, 1 = Freshman, 2 = Sophomore, etc.)
      • Freshman
      • Sophomore
      • Junior
      • Senior
      • Graduate Student
  • Third Table – Scholarships
    • ID
    • Major course of study
    • Academic Scholarship (Use Yes/No data type)
    • Athletic Scholarship (Use Yes/No data type)

Step 2

Extract the First and Last Name, Address, City, State, Zip Code and Phone Number of each Senior on the database. Sort by Last Name, then First Name (1 sort).

Step 3

Extract the First and Last Name, and GPA of each student who qualifies for the Dean’s List. Sort by GPA, then Last Name, then First Name (1 sort). A GPA of 3.25 is required to make the Dean’s List.

PART 2

Build a query of all students on athletic scholarship. Additionally, produce a report with descriptive report and column headings. Be sure there is enough data to prove the selection and sort worked as required. Submit the database in unzipped format as well as submitting screenshots of the query and the report.

Step 1

Extract the First and Last Name, Student ID, Course Major and GPA of all students on athletic scholarship. Sort by Course Major, Last Name, then First Name in a single sort.

Step 2

Produce a report with the data from Step 1 and use good headings.

In: Computer Science

<!DOCTYPE html> <html lang="en"> <head>    <title>Form Display Example</title>    <script type="text/javascript">    function display() {...

<!DOCTYPE html>
<html lang="en">
<head>
   <title>Form Display Example</title>
   <script type="text/javascript">
   function display() {
   dispWin = window.open('','NewWin','toolbar=no,status=no,width=300,height=200')
  
   message = "<ul><li>NAME:" + document.form1.name.value;
   message += "<li>ADDRESS:" + document.form1.address.value;
   message += "<li>PHONE:" + document.form1.phone.value;
   message += "</ul>";
   dispWin.document.write(message);
}
</script>
</head>
<body>
   <h1>Form Display Example</h1>
   <p>Enter the following information. When you press the Display button, the data you entered will be displayed in a pop-up.</p>
   <form name="form1" method="get" action="">
   <p>NAME: <input type="text" name="name" size="50" /></p>
   <p>ADDRESS: <input type="text" name="address" size="50" /></p>
   <p>PHONE: <input type="text" name="phone" size="50" /></p>
   <p><input type="button" value="Display" onclick="display();" /></p>
   </form>
</body>
</html>

Above is the code from the text and below is the edits that I am having trouble adding to the assisnment.

Using Notepad++, copy the code presented in Listing 26.2, "A Form That Displays Data in a Pop-Up Window," in the subsection "Displaying Data From a Form" in the section "Accessing Form Elements With JavaScript" in Ch. 26, "Working with Web-Based Forms of Sams Teach Yourself HTML, CSS and JavaScript All In One. Save the file using the name Week4ValidationExample.html. Test your code and debug as necessary.

Change the name of the display() function to myDisplay() where my is your first name. For example, if your first name were Sam, your display function would be SamDisplay(). Test your code and debug as necessary.

Change the width and height of the pop-up window in which you have set the feedback to appear as 250 and 400, respectively. Test your code and debug as necessary.

In: Computer Science

Topic :- read the article Too Busy for A Summer Job? Why America’s Youth Lacks Basic...

Topic :- read the article Too Busy for A Summer Job? Why America’s Youth Lacks Basic Work Skills and write the essay
In a detailed three-page essay (that includes a thesis, body and conclusion), analyze the following argument, using specific quotes to support your points. Your analysis should include answers to the following questions.
What is the author’s overall thesis?
What are the author’s most effective points or examples – and why?
What are the author’s least effective points or examples – and why?
Do you have any evidence, observations or personal experience to either support or discredit the author’s points? If so, discuss.
Do you primarily agree or disagree with the author? Why or why not?
Is the argument primarily effective or not effective? Why or why not?


In: Economics

you must research Medicare Fraud on the internet, locate three trustworthy sources, write up three summary...

you must research Medicare Fraud on the internet, locate three trustworthy sources, write up three summary tables (one for each source) then post your summary tables to the discussion.

Note: You should not repeatedly use the same source or type of source (e.g., government web site). Rather you should utilize multiple sources. Additionally, dictionaries, although credible, should not be used as sources for this activity.

Article 1

Title of Article:

Author:

Publication/source:

URL:

Date published:

Date accessed:

I think this resource is credible because:

Summary of article (2-3 paragraphs). Do NOT cut and paste material from article. You must summarize the article in your own words:

In: Nursing

Economics is the study of how societies, governments, businesses, households, and individuals allocate their scarce resources....

Economics is the study of how societies, governments, businesses, households, and individuals allocate their scarce resources. Our discipline has two important features. First, we develop conceptual models of behavior to predict responses to changes in policy and market conditions. Second, we use rigorous statistical analysis to investigate these changes.

To understand better the economy, choose any economic article from an online business sourcesuch as newspaper, magazine, TV, and so on. Read the article very carefully and write a summary to explain:

Required ( In your own words and - Computerized ( In Word Format)

  • What the article is talking about.
  • What are the main points that the author discussed?
  • Briefly, explain each point discussed.
  • Finally, write a paragraph to argue your opinion.

In: Economics