For each merchandising transaction below, for Alpha Betts Co. (ABC), determine what recording would be necessary first assuming (i) a periodic inventory system and then assuming (ii) a perpetual inventory system. (Assume the gross method for any purchase discounts or sales discounts.) (a) On March 6th, ABC purchased $380 of goods from Gamma Vending on account, with terms of 1/15, n60. (b) On March 7th, ABC sold merchandise for $200 to Customer A on account. (ABC offers the same terms to all customers for sales on account: 2/10, n30.) (Where necessary, assume the cost of these goods is $130.) (c) On March 9th, ABC purchased $1,000 of goods from Iota Sourcing on account, with terms of 2/5, n45. (d) On March 10th, ABC returned goods costing $80 to Gamma Vending because they damaged beyond repair. (e) On March 11th, ABC purchased $700 of goods from Psi Supply on account, with terms n30. (f) On March 15th, ABC received payment from Customer A. (g) On March 17th, ABC paid the balance due to Gamma Vending. (h) On March 19th, ABC sold merchandise for $400 to Customer B on account. (Where necessary, assume the cost of these goods is $225.) (i) On March 20th, ABC paid the balances due to both Iota Sourcing and Psi Supply. (j) On March 22nd, Customer B returned $60 of goods (with an assumed cost to ABC of $40) that were not to specification. (k) On March 31st, ABC received payment from Customer B?
In: Accounting
Selected transactions follow for Covington Sports Ltd. during the company’s first month of business. The company expects a return rate of 8% and uses a perpetual inventory system.
| Feb. | 2 | Sold $1,135 of merchandise to Andrew Noren on account, terms n/30. The goods had cost Covington $758. | ||
| 4 | Andrew Noren returned for credit $141 of the merchandise purchased on February 2. The goods had cost Covington $84 and they were returned to inventory. | |||
| 5 | Sold $762 of merchandise to Dong Corporation on account, terms n/30. The goods had cost Covington $486. | |||
| 8 | Sold $839 of merchandise to Michael Collins for cash. The goods had cost Covington $621. | |||
| 10 | Sold $920 of merchandise to Rafik Kurji account, terms n/30. The goods had cost Covington $677. | |||
| 22 | Dong Corporation paid its account in full. | |||
| 24 | Andrew Noren purchased an additional $690 of merchandise on account, terms n/30. The goods had cost Covington $414. | |||
| 27 | Sold $1,743 of merchandise to Batstone Corporation, terms n/30. The goods had cost Covington $1,100. | |||
| 28 | Andrew Noren paid $994 on account. |
(a)
Prepare the journal entries to record each of the above transactions. (List all debit entries before credit entries. Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Round answers to the nearest whole dollar, e.g. 5,275.)
In: Accounting
chief Complaint: 40-year-old man with a cough and dyspnea. History: Joe Butt, a 40-year-old white male with a 52-pack-year smoking history suffered from chronic bronchitis. For the last several months he has been on an antibiotics treatment. Three weeks ago, his otherwise normal smoker’s cough started producing bloody sputum ("hemoptysis"). In the past week Joe has become increasingly short of breath ("dyspnea"). A routine chest X-ray revealed a couple of quarter-sized opacities in his right lung around the alveoli. Bronchoscopic examination revealed the tumors were nearly occluding two major bronchioles in his right lung. A bronchial biopsy revealed the diagnosis: bronchogenic carcinoma. Questions: 1. What is "bronchogenic carcinoma"? What medical professional most likely confirmed the nature of the biopsy? 2. Describe the structure of the bronchial epithelium. How many layers of cells make up this tissue? 3. Describe what the “mucociliary escalator" is and it’s function in the respiratory system. 4. What two conditions do you think have led to Joe experiencing a shortness of breath ("dyspnea")? 5. What is the most likely or common way that this type of cancer may metastasize (i.e. spreading to other parts of the body)?
In: Anatomy and Physiology
Based on what you have read and discussed this week, what would be the most important elements that you could share with a hiring manager in the limited 5 minutes she has available to talk? With this in mind, develop a script for your 5-Minute Pitch as your first professional reflection that cohesively addresses the following:
In: Operations Management
Your company is considering investing in one of two mutually exclusive projects. The cost of capital is 11%. The first project Has $25,000 annual cash inflows, a 10-year life, and will cost $120,000 at time zero. The second project has a 7-year life, Annual cash inflows of $20,000 per year, and a cost of $75,000 at time zero. Which project has the highest NPV. Assuming that these projects will most likely be repeated indefinitely into the future, which project would add the most value to the company? Justify your answer using the EAA
In: Finance
Your company is considering investing in one of two mutually exclusive projects. The cost of capital is 11%. The first project Has $25,000 annual cash inflows, a 10-year life, and will cost $120,000 at time zero. The second project has a 7-year life, Annual cash inflows of $20,000 per year, and a cost of $75,000 at time zero. Which project has the highest NPV. Assuming that these projects will most likely be repeated indefinitely into the future, which project would add the most value to the company? Justify your answer using the EAA
In: Finance
2.How would you differentiate between a Webcast and a Webinar? Describe a scenario in which the use of a Webcast would be appropriate. Describe a scenario in which the use of a Webinar would be appropriate.
4.What are some potential legal and privacy issues that could arise when posting to a corporate blog? Discuss how you are protected by the First Amendment when posting to a corporate blog.
6. Which features of online project management software are most important to you in managing a project? Describe specific capabilities that you think add the most value.
In: Computer Science
Advertising expense $22,250 Direct labor $564,500
Depreciation expense – Office Equip $10,440 Income taxes expense $138,700
Depreciation expense – Selling Equip. $ 12,125 Indirect labor $61,000
Depreciation expense – Factory Equip. $37,400 Misc. Production costs $10,400
Factory supervision $123,400 Office salaries expense $ 72,875
Factory supplies used (indirect materials) $8,060 Raw Materials purchased $896,375
Factory utilities $39,500 Rent expense- office $25,625
INVENTORIES: Rent expense- selling space $29,000
Raw Materials, Dec 31, 2018 $42,375 Rent expense- factory building $95,500
Raw Materials, Dec 31, 2019 $72,430 Maintenance expense- factory $32,375
Goods-in-Process, Dec 31, 2018 $14,500 Sales $5,002,000
Goods-in-Process, Dec 31, 2019 $16,100 Sales discounts $59,375
Finished Goods, Dec 31, 2018 $179,200 Sales salaries expense $297,300
Finished Goods, Dec 31, 2019 $143,750
|
DATE |
ACCOUNT NAMES |
DEBIT |
CREDIT |
|
A |
Raw Materials Inventory |
|
|
|
Accounts Payable |
|
||
|
B |
Goods-in-Process Inventory |
|
|
|
Raw Materials Inventory |
|
||
|
C |
Factory Payroll |
|
|
|
Cash |
|
||
|
D |
Goods-in-Process Inventory |
|
|
|
Factory Overhead |
|||
|
Factory Payroll |
|||
|
E |
Factory Overhead |
||
|
Accum. Dep., Factory |
|||
|
Cash |
|||
|
F |
Goods-in-Process Inventory |
||
|
Factory Overhead |
|||
|
G |
Finished Goods Inventory |
||
|
Goods-in-Process Inventory |
|||
|
H |
Cost of Goods Sold |
||
|
Finished Goods Inventory |
|||
|
I |
Factory Overhead |
||
|
Cost of Goods Sold |
|||
Prepare the following journal entries from the information in the table above. You may complete the journal entries first, then go back and finish filling in the T-accounts in requirement #4 if this helps you work through this problem.
Record the following transactions:
Purchases of raw materials inventory on account for the year.
Assignment of materials costs to Goods-in-Process Inventory (all materials are
considered direct).
Payment of Factory Payroll in cash.
Assignment of Factory Payroll to Goods-in-Process Inventory and Factory Overhead.
Record all other Factory Overhead. Assume everything except Depreciation is paid
in cash.
Assignment of Factory Overhead to Goods-in-Process Inventory, assuming the
company uses a POHR of 75%
Transfer of goods completed to Finished Goods Inventory.
Recording of Cost of Goods Sold.
Make your adjusting entry for any over- or under-applied Factory Overhead.
Can you please just help me with the Income Statement Please.
In: Accounting
|
You just got a job with Bling, Inc. The company distributes bracelets to various retail outlets across the country. In the past, the company hasn’t done budgeting and they run short on cash periodically. |
|
Because your wonderful Cost Accounting teacher prepared you so well, you decided to prepare comprehensive budgets for the second quarter in order to show management the benefits. You included other departments in your decision making process and have gathered the information below. |
|
The company sells many styles of bracelets, but they are all sold for $16 each. Actual sales of bracelets in units for the last three months and budgeted sales are below: |
|
January (actual) |
22,000 |
June (budget) |
52,000 |
|
February (actual) |
28,000 |
July (budget) |
32,000 |
|
March (actual) |
42,000 |
August (budget) |
30,000 |
|
April (budget) |
67,000 |
September (budget) |
27,000 |
|
May (budget) |
102,000 |
||
|
The increase in sales before and during May is due to Mother’s Day. Bling, Inc. wants to make sure they have enough inventory on hand at the end of each month to supply 40% of the bracelets sold in the following month. |
|
Manufacturers are paid $5 for each bracelet. 50% of a month’s purchases are paid for in the month of purchase; the remainder is paid for in the following month. All credit sales are due (without discount), with no discount, in15 days. Based on history, Bling, Inc. has found, that only 20% of a month’s sales are collected in the month of sale. 70% is collected in the following month, and the remaining 10% is collected in the second month following sale. Bad debts have been immaterial and can be ignored. |
|
Monthly operating expenses for the company are given below: |
|
Variable: |
|||
|
Sales commissions |
4% |
of sales |
|
|
Fixed: |
|||
|
Advertising |
$ |
300,000 |
|
|
Rent |
$ |
28,000 |
|
|
Salaries |
$ |
126,000 |
|
|
Utilities |
$ |
12,000 |
|
|
Insurance |
$ |
4,000 |
|
|
Depreciation |
$ |
24,000 |
|
|
Insurance is paid in November of each year and covers a 12 month period. |
|
The company expects to buy $21,000 in new, better equipment in May and $50,000 in new equipment in June. The new equipment purchases in both months will be paid in cash. The company declares dividends of $22,500 each quarter, payable in the first month of the following quarter. |
|
A listing of Bling, Inc.’s accounts as of March 31 is given below: |
|
Assets |
||
|
Cash |
$ |
84,000 |
|
Accounts receivable ($44,800 February sales; $537,600 March sales) |
582,400 |
|
|
Inventory |
134,000 |
|
|
Prepaid insurance |
26,000 |
|
|
Property and equipment (net) |
1,050,000 |
|
|
Total assets |
$ |
1,876,400 |
|
Liabilities and Stockholders’ Equity |
||
|
Accounts payable |
$ |
110,000 |
|
Dividends payable |
22,500 |
|
|
Common stock |
1,000,000 |
|
|
Retained earnings |
743,900 |
|
|
Total liabilities and stockholders’ equity |
$ |
1,876,400 |
|
Bling, Inc. will always maintain a minimum cash amount of $60,000. All borrowing is always done at the beginning of a month; all repayments (if any and able) are made at the end of the month. |
|
The company can borrow in increments of $1,000 at the beginning of each month. The interest rate is 1% per month (assume no compounding interest). At the end of the quarter, the company would pay the bank all of the accumulated interest on the loan and as much of the loan as possible (in increments of $1,000), while maintaining their minimum cash balance. |
|
Required: YOUR FINAL WORK MUST BE TYPED AND YOU SHOULD USE EXCEL/LINKED FORMULAS. TEAMS OF UP TO 3 STUDENTS ARE PERMITTED. You must submit your work, HARD COPY, at the beginning of CLASS and one member of your team must upload the file to course web. The file name must be the last names of each group member (5 point deduction if not). 10 points will be DEDUCTED if the documents are not easily readable and formatted professionally [40 points]. |
|
|
1. |
Prepare a master budget for the three-month period ending June 30. Include the following detailed budgets: A sales budget, by month and in total for the quarter. A schedule of expected cash collections from sales, by month and in total for the quarter. A merchandise purchase budget in units and dollars. Show the budget by month and in total for the quarter (round unit cost of purchases to 1 decimal point). A schedule of expected cash disbursements for purchases by month and in total for the quarter. 2. A cash budget. Show the budget by month and in total for the quarter. You must show disbursements separately for partial credit if totals are incorrect. For example, merchandise, advertising, rent etc. 3. A budgeted income statement for the three-month period ending June 30 (Use the internal approach for reporting). 4. A budgeted balance sheet as of June 30th in good form. |
In: Accounting
Intro to Python
I'm getting trouble obtaining the solution for the following questions:
"How many babies were born with names starting with that least-common letter?" For the file used it is "U"
"How many babies were born with names starting with that-common letter"? For the file used it is "A"
"How many people have that name?" (This follows the question "By default, the Social Security Administration's data separates out names by gender. For example, Jamie is listed separately for girls and for boys. If you were to remove this separation, what would be the most common name in the 2010s regardless of gender?" And the file I used it is "Isabella")
"What name that is used for both genders has the smallest difference in which gender holds the name most frequently? In case of a tie, enter any one of the correct answers."
This is the problem:
#-----------------------------------------------------------
#The United States Social Security Administration publishes
#a list of all documented baby names each year, along with
#how often each name was used for boys and for girls. The
#list is used to see what names are most common in a given
#year.
#
#We've grabbed that data for any name used more than 25
#times, and provided it to you in a file called
#babynames.csv. The line below will open the file:
names_file = open('../resource/lib/public/babynames.csv', 'r')
#We've also provided a sample subset of the data in
#sample.csv.
#
#Each line of the file has three values, separated by
#commas. The first value is the name; the second value is
#the number of times the name was given in the 2010s (so
#far); and the third value is whether that count
#corresponds to girls or boys. Note that if a name is
#given to both girls and boys, it is listed twice: for
#example, so far in the 2010s, the name Jamie has been
#given to 611 boys and 1545 girls.
#
#Use this dataset to answer the questions below.
#Here, add any code you want to allow you to answer the
#questions asked below over on edX. This is just a sandbox
#for you to explore the dataset: nothing is required for
#submission here.
//
This is the format of the file but this is not file the problem is based on:
Isabella,42567,Girl
Sophia,42261,Girl
Jacob,42164,Boy
Emma,35951,Girl
Ethan,34523,Boy
Mason,34195,Boy
William,34130,Boy
Olivia,34128,Girl
Jayden,33962,Boy
Ava,30765,Girl
I found the solution and it's this:
baby_list=[]
for line in names_file:
line=line.strip().split(",")
name=line[0]
count=int(line[1])
gender=line[2]
baby_list.append([name,count,gender])
#How many total names are listed in the database?
print('Total names:',len(baby_list))
#How many total births are covered by the names in the
database?
births=0
for data in baby_list:
births=births+data[1]
print('total births:',births)
#How many different boys' names are there that begin with the
letter Z?
#(Count the names, not the people.)
names_with_z=0
for data in baby_list:
if data[0][0]=='Z' and data[2]=='Boy':
names_with_z=names_with_z+1
print('Different boys names are there that begin with the letter Z:',names_with_z)
#What is the most common girl's name that begins with the letter
Q?
names_with_Q=0
for data in baby_list:
if data[0][0]=='Q' and data[2]=='Girl' and data[1]>
names_with_Q:
girl_name=data[0]
names_with_Q=data[1]
print('The most common girl\'s name that begins with the letter Q:',names_with_Q)
#How many total babies were given names that both start and end
with vowels (A, E, I, O, or U)?
vowels='AEIOUaeiou'
total_names=0
for data in baby_list:
if data[0][0] in vowels and data[0][-1] in vowels:
total_names=total_names+ data[1]
print('The total babies were given names that both start and end
with vowels(A,E,I,O,or U):'\
,total_names)
#Here, add any code you want to allow you to answer the
#questions asked below over on edX. This is just a sandbox
#for you to explore the dataset: nothing is required for
#submission here.
#What letter is the least common first letter of a baby's
name
name_list = {}
for i in range(len(baby_list)):
fl = list(baby_list[i][0])[0]
if fl not in name_list.keys():
name_list[fl] = 1
else:
name_list[fl] = int(name_list[fl]) + 1
#What letter is the least common first letter of a baby's
name
leastKey = 9999
mostKey = 0
least=''
most=''
print(name_list.keys())
for key in name_list.keys():
if name_list[key] < leastKey:
least = key
leastKey = name_list[key]
if name_list[key] > mostKey:
most = key
mostKey = name_list[key]
print('\nThe letter is the least common first letter of a baby\'s
name is: ',least)
#How many babies were born with names starting with that
least-common letter?
print('\nNumber of babie names starting with that least-common
letter',name_list[least])
#What letter is the most common first letter of a baby's name
print("\nThe letter is the most common first letter of a baby's
name is: ",most)
#How many babies were born with names starting with that
most-common letter?
print('\nNumber of babie names starting with that most-common
letter: ',name_list[most])
'''
#By default, the Social Security Administration's data separates
out names by gender.
#For example, Jamie is listed separately for girls and for
boys.
#If you were to remove this separation, what would be the most
common name
in the 2010s regardless of gender?
'''
name_list = {}
for i in range(len(baby_list)):
name = baby_list[i][0]
ctr = baby_list[i][1]
gndr = baby_list[i][2]
if name in name_list.keys():
name_list[name] = int(name_list[name]) + 1
else:
name_list[name] = 1
mostKey = 0
most=''
for key in name_list.keys():
if name_list[key] > mostKey:
most = key
mostKey = name_list[key]
print('\nThe most common name in the 2010s regardless of gender:
',most)
#How many people would have that name?
print('\nThe number of people have most common name regardless of
gender: ',mostKey)
'''
What name that is used for both genders has the smallest difference
in
which gender holds the name most frequently? In case of a
tie,
enter any one of the correct answers.
'''
mini = name_list[most]
name_list = {}
for i in range(len(baby_list)):
name = baby_list[i][0]
ctr = baby_list[i][1]
gndr = baby_list[i][2]
if name in name_list.keys() and gndr != name_list[name][1]:
name_list[name] = [int(name_list[name][0]) -1, gndr, 1]
else:
name_list[name] = [1, gndr, 0]
for x in name_list.keys():
if name_list[x][2] == 1 and name_list[x][0] < mini:
mini = name_list[x][0]
nme = x
print('Name that is used for both genders has the smallest
difference: ',x)
In: Computer Science