On January 1, 2020, Novak Corp. had Accounts Receivable $140,800, Notes Receivable $24,000, and Allowance for Doubtful Accounts $12,300. The note receivable is from Willingham Company. It is a 4-month, 9% note dated December 31, 2019. Novak Corp. prepares financial statements annually at December 31. During the year, the following selected transactions occurred.

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

Suppose I need to model a bank which provides loans to different companies. Further suppose that the only companies in my data model are those to whom I am providing loans or have provided loans in the past.

What is the appropriate minimum cardinality for the relationship between LOAN and COMPANY?

Suppose I need to model a credit card company where each customer can receive up to one credit card and each card can be sent to only one address.

What is the appropriate maximum cardinality for the relationship between CUSTOMER and CARD?

Suppose I need to model a university where students can, but do not have to, participate in extra-curricular activities. Each such activity can have zero or more participants.

What is the appropriate minimum cardinality for the relationship between STUDENT and ACTIVITY?

Suppose I need to model a university where students can have up to three majors (i.e., can be part of three departments).

What is the appropriate maximum cardinality for the relationship between STUDENT and DEPARTMENT?

Suppose I need to model a hardware store with varying inventory. That is, not all products will be sold at any given time.

What is the appropriate minimum cardinality for the relationship between STORE and PRODUCT?

Using HTML/Javascript (if needed) I want to create a table for a website that pulls data from another website where the data is being updated on. Example: https://investors.coca-colacompany.com/stock-information/historical-data

I cannot just put in the numbers to a table as they will be getting updated daily. So it needs to link the the website elements.

Table from:

https://investors.coca-colacompany.com/stock-information/historical-data

Huxley (60) and Elise (45) started the process on adopting Elwood (15) on May 1, 2020. On July 6, 2020, Huxley took a $5,000 distribution from his 401(k). On September 24, 2020, Elise took a $5,000 distribution from her IRA. What is the tax treatment of each distribution?

Huxley's distribution is taxable and not subject to the early distribution penalty. Elise's distribution is taxable and subject to the early distribution penalty.

Huxley's distribution is not taxable or subject to the early distribution penalty. Elise's distribution is taxable and subject to the early distribution penalty.

Huxley's distribution is taxable and not subject to the early distribution penalty. Elise's distribution is taxable and not subject to the early distribution penalty.

Huxley's distribution is taxable and subject to the early distribution penalty. Elise's distribution is taxable and not subject to the early distribution penalty.

Pelzer Company reconciled its bank and book statement balances of Cash on August 31 and showed two cheques outstanding at that time, #5888 for $6,390 and #5893 for $1,528.00. The following information was available for the September 30, 2020, reconciliation:

From the September 30, 2020, bank statement:

From Pelzer Company’s accounting records:

• Cheque #5904 was correctly written for $9,340.55 to pay for computer equipment; however, the bookkeeper misread the amount and entered it in the accounting records with a debit to Computer Equipment and a credit to Cash as though it were for $3,940.55. The NSF cheque was originally received from a customer, Lisa Willis, in payment of her account. Its return was not recorded when the bank first notified the company.
• The credit memo resulted from an electronic fund transfer of $3,568 for a customer payment. The bank had deducted a $50.00 bank service charge. The collection has not been recorded.

Required:
1. Prepare a September 30 bank reconciliation for the company. (Round your answers to 2 decimal places.)

2. Prepare the General Journal entries needed to adjust the book balance of cash to the reconciled balance. (Round your answers to 2 decimal places.)

2. Briefly discuss how important us strong vs weak tie social capital to the following two start up company: a new restaurant and e commerce platform.
3. what is the benefit of forming entrepreneurial team when starting a company? is a more diverse team better than a team with similar members for a business venture?

The ledger of Crane Corporation at November 30, 2021, contains the following summary data:

Cash dividends—common
$60,500 Operating expenses $1,101,000
Cash dividends—preferred
25,000 Other comprehensive income—loss on
equity investments (before income tax)
71,000
Common shares
315,500 Rent revenue 39,000
Cost of goods sold
7,190,000 Preferred shares ($5 noncumulative) 381,000
Depreciation expense
341,000
Retained earnings, December 1, 2020 732,000
Sales
9,011,000

Your analysis reveals the following additional information:

1.
The company has a 25% income tax rate.
2.
The communications devices division was discontinued on August 31. The profit from operations for the division up to that day was $15,200 before income tax. The division was sold at a loss of $70,500 before income tax.
3.
There were 200,000 common and 5,000 preferred shares issued on December 1, 2020, with no changes during the year.

part
(a)
Prepare a multiple-step income statement for the year.

PART B

Quality Construction Company (QCC) successfully secured the contract to build a new community centre for the City of Burnaby. The total fixed contract price is $25.0 million.

The following schedule indicates (for the three-year period during which construction took place) the costs incurred to date, the estimated costs to complete the community centre complex, and the amount of cash received scheduled to be received from the City of Burnaby. According to normal practice in the industry, the final 10% of the contract price is not paid until a few months after the construction is completed.

Required:

Calculate the amount of revenue, costs and any other amounts that QCC should recognize in 2020 and 2021 using the percentage of completion method. Carry calculations of percentage completed to FOUR decimal places.