Problem 9-5A (Part Level Submission) At December 31, 2015, Grand Company reported the following as plant assets. Land $4,147,000 Buildings $27,842,000 Less: Accumulated depreciation—buildings 10,769,000 17,073,000 Equipment 48,828,000 Less: Accumulated depreciation—equipment 5,126,000 43,702,000 Total plant assets $64,922,000 During 2016, the following selected cash transactions occurred. April 1 Purchased land for $2,195,000. May 1 Sold equipment that cost $786,000 when purchased on January 1, 2012. The equipment was sold for $471,600. June 1 Sold land purchased on June 1, 2006 for $1,456,000. The land cost $391,000. July 1 Purchased equipment for $2,309,000. Dec. 31 Retired equipment that cost $484,000 when purchased on December 31, 2006. No salvage value was received. Collapse question part (a) Journalize the above transactions. The company uses straight-line depreciation for buildings and equipment. The buildings are estimated to have a 50-year life and no salvage value. The equipment is estimated to have a 10-year useful life and no salvage value. Update depreciation on assets disposed of at the time of sale or retirement. (If no entry is required, select "No entry" for the account titles and enter 0 for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually.)
In: Accounting
Your company recently assigned you to a the City of Chesterton and provided you with the following information for the year ended June 30, 2008:
Expenses:
| General government | $11,000,000 |
| Public safety | 24,000,000 |
| Public works | 12,000,000 |
| Health and sanitation | 6,000,000 |
| Culture and recreation | 4,000,000 |
| Interest on long-term debt, governmental type | 600,000 |
| Water and sewer system | 12,000,000 |
| Parking system | 500,000 |
Revenues:
| Charges for services, general government | $1,000,000 |
| Charges for services, public safety | 200,000 |
| Operating grant, public safety | 700,000 |
| Operating grant, health and sanitation | 1,000,000 |
| Charges for services, culture and recreation | 2,000,000 |
| Charges for services, water and sewer | 13,000,000 |
| Charges for services, parking system | 400,000 |
| Property taxes | 29,000,000 |
| Sales taxes | 21,000,000 |
| Investment earnings, business-type |
300,000 |
| Special itme-gain on sale of unused land, governmental type | 1,000,000 |
| Transfer to governmental activities from business-type activities | 700,000 |
| Net position, July 1, 2006, governmental activities | 13,000,000 |
| Net position, July 1, 2006, business-type activities | 22,000,000 |
Required: From the information given above, prepare a Statement of Activities for the City of Chesterton for the year ended June 30, 2008. Chesterton has no component units.
In: Accounting
| Coca-Cola Revenues ($ millions), 2005–2010 | ||||||
| Quarter | 2005 | 2006 | 2007 | 2008 | 2009 | 2010 |
| Qtr1 | 5,200 | 5,117 | 6,075 | 7,380 | 7,150 | 7,800 |
| Qtr2 | 6,304 | 6,465 | 7,705 | 9,045 | 8,220 | 8,659 |
| Qtr3 | 6,031 | 6,410 | 7,662 | 8,305 | 8,025 | 8,411 |
| Qtr4 | 5,545 | 5,905 | 7,303 | 7,040 | 7,480 | 10,479 |
(a-1) Use MegaStat or Minitab to deseasonalize
Coca-Cola’s quarterly data. (Round your answers to 3
decimal places.)
| 1 | 2 | 3 | 4 | |
| 2005 | ||||
| 2006 | ||||
| 2007 | ||||
| 2008 | ||||
| 2009 | ||||
| 2010 | ||||
| mean | ||||
(a-2) State the adjusted four quarterly indexes.
(Round your answers to 3 decimal
places.)
| Q1 | Q2 | Q3 | Q4 |
(a-3) What is the trend model for the
deseasonalized time series? (Round your answers to 2
decimal places.)
yt
= xt +
(b) State the model found when performing a
regression using seasonal binaries. (A negative value
should be indicated by a minus sign. Round your answers to 4
decimal places.)
yt
= + t + Q1
+ Q2 + Q3
(c) Use the regression equation to make a
prediction for each quarter in 2011. (Enter your answers in
millions rounded to 3 decimal places.)
| Quarter | Predicted |
| Q1 | |
| Q2 | |
| Q3 | |
| Q4 | |
In: Statistics and Probability
Use the data given to develop a Statement of Cash flows for 2007 and calculate change in cash from 2006 in operating, investing and financing activities and reconcile to beginning and ending cash.
| Income Statements | |||||||
| (Thousands of Dollars) | |||||||
| Katie's Construction | Peer | ||||||
| 2006 | 2007 | Proj. 2008 | Com. Size | ||||
| Net Sales | 81,950 | 83,875 | 101,488.75 | 100.00 | |||
| Cost of goods sold | 66,000 | 70,950 | 85,849.5 | 81.00 | |||
| Gross Profit | 15,950 | 12,925 | 15,639.25 | 19.00 | |||
| 0 | 0 | 0 | |||||
| S & A Expenses | 8,360 | 9,997.9 | 11,163.762 | 10.00 | |||
| Depreciation | 1,100 | 902 | 1,045 | 1.00 | |||
| Operating Profit | 6,490 | 2,025.1 | 3,430.488 | 8.00 | |||
| 0 | 0 | 0 | |||||
| Interest Expense | 775.5 | 1,322.2 | 1,125.3 | 1.00 | |||
| Pre-Tax Profit | 5,714.5 | 702.9 | 2,305.188 | 7.00 | |||
| 0 | 0 | 0 | |||||
| Tax (34%) | 1,942.93 | 238.986 | 783.764 | 2.38 | |||
| After Tax profit | 3,771.57 | 463.914 | 1,521.424 | 4.62 | |||
| 0 | 0 | 0 | |||||
| Dividends | 1,377.2 | 165 | 660 | ||||
| Retained Earnings | 2,394.37 | 298.914 | 861.424 | ||||
| No. of Shares | 1,450 | 1,450 | 1,450 | ||||
| Stock Price/Share | 13 | 9 | |||||
| Balance Sheets | |||||||
| (Thousands of Dollars) | |||||||
| Katie's Construction | Peer | ||||||
| 2006 | 2007 | Proj. 2008 | Com. Size | ||||
| Cash | 1,760 | 1,427.8 | 1,760 | 3.5 | |||
| Accounts Receivable | 8,140 | 13,200 | 11,550 | 28 | |||
| Inventory | 14,609.1 | 20,900 | 15,381.3 | 47 | |||
| Total Current Assets | 24,509.1 | 35,527.8 | 28,691.3 | 78.5 | |||
| 0 | 0 | 0 | |||||
| Net Fixed Assets | 6,832.1 | 7,156.6 | 8,760.4 | 21.5 | |||
| Total Assets | 31,341.2 | 42,684.4 | 37,451.7 | 100 | |||
| 0 | 0 | 0 | |||||
| Accounts Payable | 4,620 | 8,800 | 6,600 | 15 | |||
| Notes Payable | 2,256.1 | 8,250 | 4,290 | 9 | |||
| Accruals | 2,255 | 3,242.8 | 3,567.08 | 7.5 | |||
| Total Current Liabilities | 9,131.1 | 20,292.8 | 14,457.08 | 31.5 | |||
| 0 | 0 | 0 | |||||
| Long Term Debt | 5,380.1 | 5,262.4 | 5,148.704 | 19 | |||
| Total Liabilities | 14,511.2 | 25,555.2 | 19,605.784 | 50.5 | |||
| 0 | 0 | 0 | |||||
| Common Equity | 16,830 | 17,129.2 | 17,845.916 | 49.5 | |||
| Total Liabilities & Equity | 31,341.2 | 42,684.4 | 37,451.7 | 100 |
In: Accounting
O’Neil Enterprises produces a line of canned soups for sale at supermarkets across the country. Demand has been “soft” recently and the company is operating at 75 percent of capacity. The company is considering dropping one of the soups, beef barley, in hopes of improving profitability. If beef barley is dropped, the revenue associated with it will be lost and the related variable costs saved. The CFO estimates that the fixed costs will also be reduced by 25 percent.
The following product line statements are available.
| Product | Broth | Beef Barley | Minestrone | ||||||||
| Sales | $ | 34,200 | $ | 44,300 | $ | 52,700 | |||||
| Variable costs | 22,500 | 39,600 | 41,100 | ||||||||
| Contribution margin | $ | 11,700 | $ | 4,700 | $ | 11,600 | |||||
| Fixed costs allocated to each product line | 5,700 | 7,000 | 8,100 | ||||||||
| Operating profit (loss) | $ | 6,000 | $ | 2,300 | $ | 3,500 | |||||
Required:
a-1. Complete the following differential cost schedule.
b. When the product manager for the minestrone soup hears that managers are considering dropping the beef barley line, she points out that many O’Neil customers buy more than one soup flavor and if beef barley is not available from O’Neil, some of them might stop buying the other soups as well. She estimates that 10 percent of the current sales of both broth and minestrone will be lost if beef barley is dropped.
b-1. Complete the following differential cost schedule.
When the product manager for the minestrone soup hears that managers are considering dropping the beef barley line, she points out that many O’Neil customers buy more than one soup flavor and if beef barley is not available from O’Neil, some of them might stop buying the other soups as well. She estimates that 10 percent of the current sales of both broth and minestrone will be lost if beef barley is dropped.
B1. Complete the following differential cost schedule.
Show less
|
| Status Quo | Alternative: Drop Beef Barley | Difference | |
| Revenue | |||
| Less: Variable costs | |||
| Contribution margin | |||
| Less: Fixed costs | |||
|
Operating profit (loss) |
In: Accounting
Multiple studies conducted in the United States, Canada, Germany, and the United Kingdom show that the probability of dying in the hospital is higher if you are admitted on the weekend. Why might this be? What factors might contribute to this probability? What could hospitals do to reduce/eliminate this phenomenon?
In: Nursing
Evaluate some of Fresh Direct key resources and capabilities using the RBV framework. How did these contribute to its sustained competitive advantage (if at all) in the retail industry? Why has Fresh Direct struggled in recent times despite possessing these resources and capabilities?
In: Economics
1. Discuss how and why a plasma membrane lipid bilayer is fluid and what types of physical properties of the lipids contribute to the fluidity of the membrane. This should include a discussion of the different types of fatty acids and other lipids and environmental interactions that can change fluidity.
In: Biology
As someone with more knowledge of the balanced scorecard than almost anyone else in the company, you have been asked to use that knowledge to contribute to the improvement of the performance of the company. Explain how you will use the given performance measures to measure and improve the performance of the company. .
In: Accounting
Who are the two partners in :a) lichen mutualism and b) mycorrhizal mutualism? what does each partner contribute to each of these relationships? Given the fungal lifestyle as an absorptive heterotroph, why might fungal associations with photosynthetic organisms, as in mycorrhizae and lichens, be an alternative to being a decomposer?
In: Biology