The following unadjusted trial balance is for Ace Construction Co. as of the end of its 2019 fiscal year. The June 30, 2018, credit balance of the owner’s capital account was $52,500, and the owner invested $20,000 cash in the company during the 2019 fiscal year.

Adjustments:

1. The supplies available at the end of fiscal year 2019 had a cost of $3,240.
2. The cost of expired insurance for the fiscal year is $3,465.
3. Annual depreciation on equipment is $8,500.
4. The June utilities expense of $520 is not included in the unadjusted trial balance because the bill arrived after the trial balance was prepared. The $520 amount owed needs to be recorded.
5. The company’s employees have earned $1,700 of accrued and unpaid wages at fiscal year-end.
6. The rent expense incurred and not yet paid or recorded at fiscal year-end is $500.
7. Additional property taxes of $700 have been assessed for this fiscal year but have not been paid or recorded in the accounts.
8. The $230 accrued interest for June on the long-term notes payable has not yet been paid or recorded.

Required:
1. Prepare a 10-column work sheet for fiscal year 2019, starting with the unadjusted trial balance and including adjustments based on the additional facts. The June 30, 2018, credit balance of the owner’s capital account was $52,500, and the owner invested $20,000 cash in the company during the 2019 fiscal year.
2a. Prepare the adjusting entries. (all dated June 30, 2019).
2b. Prepare the closing entries. (all dated June 30, 2019):
3a. Prepare the income statement for the year ended June 30, 2019.
3b. Prepare the statement of owner's equity for the year ended June 30, 2019.
3c. Prepare the classified balance sheet at June 30, 2019.

The Thompson Corporation, a manufacturer of steel products, began operations on October 1, 2016. The accounting department of Thompson has started the fixed-asset and depreciation schedule presented below. You have been asked to assist in completing this schedule. In addition to ascertaining that the data already on the schedule are correct, you have obtained the following information from the company's records and personnel (FV of $1, PV of $1, FVA of $1, PVA of $1, FVAD of $1 and PVAD of $1) (Use appropriate factor(s) from the tables provided.):

Depreciation is computed from the first of the month of acquisition to the first of the month of disposition.

Land A and Building A were acquired from a predecessor corporation. Thompson paid $872,500 for the land and building together. At the time of acquisition, the land had a fair value of $76,800 and the building had a fair value of $883,200.

Land B was acquired on October 2, 2016, in exchange for 3,600 newly issued shares of Thompson’s common stock. At the date of acquisition, the stock had a par value of $5 per share and a fair value of $31 per share. During October 2016, Thompson paid $11,000 to demolish an existing building on this land so it could construct a new building.

Construction of Building B on the newly acquired land began on October 1, 2017. By September 30, 2018, Thompson had paid $270,000 of the estimated total construction costs of $360,000. Estimated completion and occupancy are July 2019.

Certain equipment was donated to the corporation by the city. An independent appraisal of the equipment when donated placed the fair value at $18,400 and the residual value at $2,600.

Machine A’s total cost of $109,000 includes installation charges of $610 and normal repairs and maintenance of $12,500. Residual value is estimated at $5,200. Machine A was sold on February 1, 2018.

On October 1, 2017, Machine B was acquired with a down payment of $4,600 and the remaining payments to be made in 10 annual installments of $4,600 each beginning October 1, 2018. The prevailing interest rate was 8%.

Required:

Supply the correct amount for each answer box on the schedule. (Round your final answers to nearest whole dollar.)

                                        Thompson Corporation

                          Fixed Asset and depreciation schedule

                       For fiscal year ended september 30, 2017, and september 30, 2018

Problem 4-2A Preparing a work sheet, adjusting and closing entries, and financial statements LO C3, P1, P2

The following unadjusted trial balance is for ACE CONSTRUCTION CO. as of the end of its 2017 fiscal year. The June 30, 2016, credit balance of the owner’s capital account was $52,300, and the owner invested $24,000 cash in the company during the 2017 fiscal year.

Adjustments:
  

1. The supplies available at the end of fiscal year 2017 had a cost of $2,880.
2. The cost of expired insurance for the fiscal year is $4,095.
3. Annual depreciation on equipment is $8,000.
4. The June utilities expense of $600 is not included in the unadjusted trial balance because the bill arrived after the trial balance was prepared. The $600 amount owed needs to be recorded.
5. The company’s employees have earned $1,200 of accrued wages at fiscal year-end.
6. The rent expense incurred and not yet paid or recorded at fiscal year-end is $100.
7. Additional property taxes of $600 have been assessed for this fiscal year but have not been paid or recorded in the accounts.
8. The long-term note payable bears interest at 12% per year. The unadjusted Interest Expense account equals the amount paid for the first 11 months of the 2017 fiscal year. The $240 accrued interest for June has not yet been paid or recorded. (The company is required to make a $5,500 payment toward the note payable during the 2018 fiscal year.)

Required:
1. Prepare a 10-column work sheet for fiscal year 2017, starting with the unadjusted trial balance and including adjustments based on the additional facts.
2a. Prepare the adjusting entries. (all dated June 30, 2017).
2b. Prepare the closing entries. (all dated June 30, 2017):
3a. Prepare the income statement for the year ended June 30.
3b. Prepare the statement of owner's equity for the year ended June 30.
3c. Prepare the classified balance sheet at June 30, 2017.

Confidence Intervals for a proportion and mean Do all steps in the confidence interval:

a) Check when easy the requirements for the interval (t-interval)

b) Create a summary of the information that goes into the interval

c) Write out the formula for the interval

d) Replace the symbols in the formula with the numbers from (b)

e) Produce the interval

f) Interpret the interval

In 1998, as an advertising campaign, the Nabisco Company announced a "1000 Chips Challenge," claiming that every 18-ounce bag of cookies contained at least 1000 chocolate chips. Students tested this by getting bags and counting. Create a 95% interval for the mean number of chocolate chips per bag.

An insurance company checks police records on 582 accidents selected at random and notes that teenagers were at the wheel in 91 of them. Create a 95% confidence interval for the percentage of all auto accidents that involve teenage drivers.

A company with a large fleet of cars hopes to keep gasoline costs down and sets a goal of attaining a fleet average of at least 26 miles per gallon. To see if the goal is being met, they check the gasoline usage for 50 company trips chosen at random, finding a mean of 25.02 mpg and a standard deviation of 4.83 mpg. Produce a 99% confidence interval for the average mpg.

A May 2007 Gallup Poll found that only 11% of a random sample of 1003 adults approved of attemps to clone a human. Produce a 90% confidence interval for the percentage of adults that approve of attempts to clone a human

The mayor of a small city suggested that the state locate a new prison there, arguing that the construction project and resulting jobs will be good for the local economy. A total of 2183 residents show up for a public hearing on the proposal, and a show of hands finds only 31 in favor of the prison project. What can the city council conclude about public support for the mayor's initiative? Produce a 98% confidence interval to answer the question.

The BakFirn Corporation, a publicly traded firm, has contracted with YOUCPA, your public accounting firm, for an audit. The BakFirn Corporation manufactures specialty construction tools. The tools are used in the unique construction of homes, warehouses, and multiunit dwellings. The prices range from $1,000 to $5,000 per unit.

During the audit, the audit team has determined the risk assessment of the client. Consequently, the audit has to respond to the assessed risks of material misstatement at the financial statement and assertion levels. The YOUCPA audit team has asked you, the auditor, to prepare a list of actions that you will take to assess the audit risk.

The following information is available in the year just finished:

• The BakFirn Corporation end-of-year is 12/31/20XX.
• Sales for the previous year were $10,000,000. Sales this year are coming in at $9,500,000.
• The firm is in the construction machine industry, making specialty tools.
• Account receivable days sales outstanding (DSO) has been averaging 90–120 days. The year before, it was 80–90 days.
• Inventory turns have decreased from 3 to 2 per year.
• Account receivable and inventory make up 80% of total assets.
• Internal auditing has been reduced by one person to reduce costs.
• An initial test of controls in cash receipt indicated a lack of following procedures.
• The construction industry is in the third year of a downturn. It is forecasted to last two more years.
• The audit team has defined materiality to be focused on account receivable and inventory with $3,000 being the initial threshold. Net income for last year was $1,000,000.
• Inventory at the end of the year was $2,500,000.
• Account receivable at the end of the year was $2,740,000, or 100 DSO.
• The previous auditors did not disclose any fraud or any management issues at the meeting with BakFirn and YOUCPA. The reason for the auditor change was explained as a costs reduction program

Questions: Audit Assessment Steps:

1. What is the initial audit risk? High, medium or low?
2. What factors made you decide on this level?

USING UNITED STATES IBC CHAPTER 6

1. An exterior wall is defined as a building enclosing wall that has a minimum slope of ____ degrees with the horizontal plane.

A. 45               B. 60               C. 75               D. 90

2. Veneer secured and supported through the adhesion of an approved bonding material applied to an approved backing is considered as _______ veneer.

A. adhered                  B. anchored                 C. attached                  D. spandrel

3. A minimum of _________ shall be attached to exterior sheathing in order to provide a continuous water-resistant barrier behind the exterior wall veneer.

A. one layer of No. 15 asphalt felt

B. one layer of No. 30 asphalt felt

C. two layers of No. 15 asphalt felt applied shingle fashion

D. two layers of No. 15 asphalt felt applied shingle fashion

4. Precast stone facing shall be a minimum of ____ inch in thickness in order to be acceptable as an approved weather covering.

A. ½                            B. 5/8                          C. ¾                            D. 1

5. When installed in a compliant manner, exterior masonry veneer having a maximum installed weight of ____ pounds per square foot may be supported on wood construction.

A. 15                           B. 20                           C. 25                           D. 40

6. What is the minimum permitted thickness for metal veneer mounted on approved sheathing on wood construction?

A. 0.0149 in                B. 0.0224 in                C. 0.0478 in                D. 0.0630 in

7. List the performance requirement(s) of weather protection of exterior walls as per code.

8. Use of wood, masonry, concrete and several other materials are permitted in the code for the construction of exterior walls. Name five (5) more approved materials.

9. List the specifications for the wood veneers on exterior walls of Types I, II, III & IV buildings.

10. The code permits the use of combustible materials in the construction of exterior walls of Types I, II, III & IV buildings, however, with some limitations. List four (4) such limitations.

Q: During a televised, title prize fight at a Las Vegas hotel, Luis threw a punch which hit Michael in the face. As a result:

a: This would ordinarily be an act of negligence, however since Michael consented to the fight, he has no viable legal action against Luis. INCORRECT

b: This would ordinarily constitute strict liability for engaging in an inherently dangerous activity, however since Michael consented to the fight, he has no viable legal action against Luis.

c: This would ordinarily be an action of intentional infliction of emotional distress, however since Michael consented to the fight, he has no viable legal action against Luis.

d: This would ordinarily be a battery, however since Michael consented to the fight, he has no viable legal action against Luis.

Problem 8-21 (Algorithmic)

Round Tree Manor is a hotel that provides two types of rooms with three rental classes: Super Saver, Deluxe, and Business. The profit per night for each type of room and rental class is as follows:

Type I rooms do not have wireless Internet access and are not available for the Business rental class.

Round Tree's management makes a forecast of the demand by rental class for each night in the future. A linear programming model developed to maximize profit is used to determine how many reservations to accept for each rental class. The demand forecast for a particular night is 140 rentals in the Super Saver class, 60 rentals in the Deluxe class, and 40 rentals in the Business class. Round Tree has 125 Type I rooms and 135 Type II rooms.

1. Use linear programming to determine how many reservations to accept in each rental class and how the reservations should be allocated to room types.
   

   Variable	# of reservations
   SuperSaver rentals allocated to room type I
   SuperSaver rentals allocated to room type II
   Deluxe rentals allocated to room type I
   Deluxe rentals allocated to room type II
   Business rentals allocated to room type II

2. How many reservations can be accommodated in each rental class?
   

   Rental Class	# of reservations
   SuperSaver
   Deluxe
   Business

Scenario: Chief Complaint: Fever , AIDS. 40 year old white male resides at the hotel and lives on social security disability; diagnosed with AIDS, end stage, addiction, and agoraphobia presents with fever X2 weeks, no thermometer available, diarrhea daily. He tends to miss appointments because of his extreme anxiety in public places. He has not been on antiretroviral therapy due to his inability to regularly take medications. He is not in contact with case management, but there is a special hospice for homeless people with AIDS and perhaps it might be time to consider a referral for more supportive services.

Vital signs: 100/70 64 18 99.8 BMI:17   Gen: thin white male

skin: dry and flacking multiple nevi ruddy complexion, red flaky, rash on naso/ labial folds, and scalp + DANDROFF

HEENT:  Poor definition, gengevitus, shotty lymph nodes posterior / Anterior cervical.

Question: How would APRN (Nurse practitioner) prepare for home visit? Explore the practical concerns, the equipment APRN need to bring, and goals for the patient’s care.

Question: What might you want as Nurse practitioner to know from the case management and supportive services team?

Question: What specific things would you assess as Nurse practitioner at this visit?

Question: What are the essential elements of the history and physical today?

Question: What is your assessment as Nurse Practitioner ?

Question: What is your plan?