Following is the adjusted trial balance for the General Fund of the Township of Florida on June 30, 2016, the end of the fiscal year.
Based on this information, prepare:
1. closing entries
2. the statement of revenues, expenditures, and changes in fund balance for the year
2. the balance sheet at June 30, 2016. (Classify the fund balance as Unassigned.)
|
Township of Florida General Fund Adjusted Trial Balance June 30, 2016 |
||
|
Cash |
$ 6,200 |
|
|
Taxes receivable |
40,000 |
|
|
Investments |
65,000 |
|
|
Vouchers payable |
38,750 |
|
|
Tax anticipation notes payable |
12,750 |
|
|
Unassigned fund balance |
57,000 |
|
|
Estimated revenues |
101,000 |
|
|
Appropriations |
99,000 |
|
|
Budgetary fund balance |
2,000 |
|
|
Revenues-taxes |
100,000 |
|
|
Revenues-other |
2,080 |
|
|
Expenditures-personal services |
94,700 |
|
|
Expenditures-supplies |
4,680 |
0 |
|
|
$ 311,580 |
$ 311,580 |
please clarify what is credit and what is debit
In: Accounting
Below is note to the financial statements number 15 extracted from the 2016 annual report for BOC Kenya Limited.
Required:
(a) What is meant by (i) amortization, (ii) accumulated amortization?
(b) What are intangible assets?
(c) Where are intangible assets listed on the balance sheet?
|
Cost At beginning of year Reallocation to property plant and equipment (Note 14) Additions Translation differences |
Group |
Company |
|
2016 2015 |
2016 2015 |
|
|
16,299 22,544 |
16,061 22,544 |
|
|
- (6,220) |
- (6,483) |
|
|
561 - |
561 - |
|
|
(25) |
- |
|
|
At end of year |
16,860 16,299 |
16,622 16,061 |
|
Accumulated amortisation At beginning of year Reallocation to property, plant & equipment (Note 14) Charge for the year At end of year |
||
|
(15,629) (18,982) |
(15,537 (18,982) |
|
|
- 4,644 |
- 4,566 |
|
|
(534) (1,291) |
(454) (1,211) |
|
|
(16,163) (15,629) |
15,991 (15,537) |
|
|
Net carrying amount at 31 December |
697 670 |
631 524 |
In: Accounting
| Times-Interest-Earned Ration |
| Calculated the times-interest-earned ratio for Smith & Sons Inc for 2015 and 2016 and comment on the company’s ability to pay its current interest payments. Did the company’s ability to pay its current interest changes improve? | ||||
| Time interest earned ration = Income before interest expense and income taxes/Interest expense | ||||
| Smith & Sons, Inc | ||||
| Balance Sheet | ||||
| Decemober 31, 2016 and 2015 | ||||
| (In millions) | 2016 | 2015 | ||
| Net sales | 10,000 | 9,500 | ||
| Cost of goods sold | (5,500) | (5,200) | ||
| Gross profit | 4,500 | 4,300 | ||
| Selling and administrative expenses | (2,800) | (2,700) | ||
| Income from operations | 1,700 | 1,600 | ||
| Interest expense | (300) | (250) | ||
| Income before income taxes | 1,400 | 1,350 | ||
| Income tax expenses | (420) | (400) | ||
| Net Income | 980 | 950 | ||
In: Accounting
At year-end 2016, Wallace Landscaping’s total assets were $1.6 million, and its accounts payable were $390,000. Sales, which in 2016 were $2.8 million, are expected to increase by 20% in 2017. Total assets and accounts payable are proportional to sales, and that relationship will be maintained. Wallace typically uses no current liabilities other than accounts payable. Common stock amounted to $490,000 in 2016, and retained earnings were $215,000. Wallace has arranged to sell $120,000 of new common stock in 2017 to meet some of its financing needs. The remainder of its financing needs will be met by issuing new long-term debt at the end of 2017. (Because the debt is added at the end of the year, there will be no additional interest expense due to the new debt.) Its net profit margin on sales is 6%, and 55% of earnings will be paid out as dividends.
In: Finance
imon Company’s year-end balance sheets follow.
| At December 31 | 2017 | 2016 | 2015 | ||||||
| Assets | |||||||||
| Cash | $ | 31,800 | $ | 35,625 | $ | 37,800 | |||
| Accounts receivable, net | 89,500 | 62,500 | 50,200 | ||||||
| Merchandise inventory | 112,500 | 82,500 | 54,000 | ||||||
| Prepaid expenses | 10,700 | 9,375 | 5,000 | ||||||
| Plant assets, net | 278,500 | 255,000 | 230,500 | ||||||
| Total assets | $ | 523,000 | $ | 445,000 | $ | 377,500 | |||
| Liabilities and Equity | |||||||||
| Accounts payable | $ | 129,900 | $ | 75,250 | $ | 51,250 | |||
| Long-term notes
payable secured by mortgages on plant assets |
98,500 | 101,500 | 83,500 | ||||||
| Common stock, $10 par value | 163,500 | 163,500 | 163,500 | ||||||
| Retained earnings | 131,100 | 104,750 | 79,250 | ||||||
| Total liabilities and equity | $ | 523,000 | $ | 445,000 | $ | 377,500 | |||
1. Compute the current ratio for the year ended
2017, 2016, and 2015.
2. Compute the acid-test ratio for the year ended
2017, 2016, and 2015.
In: Accounting
"Using Python, code to find the smallest and largest planet mass (if known), and plot these as two curves against the year of discovery"
Basically looking to use data from an excel sheet where 'disc_year' and 'pl_mass' are columns of data; and code Python to find the maximum value of mass and the minimum value of mass for each year, then plot this as two curves. There are multiple planets for any given year hence multiple values for mass. Below is example of what data might be.
Example data: Mass - 5.5, 0.2, 6, 56, 209, 0.3, 44, 124, 403, 98, 304, 202, 11.7, 5.4, 17.8, 21.9, 603.3, 108.2, 19, 0.3
Year - 2019, 2019, 1994, 2002, 2001, 2016, 1994, 2019, 2002, 2001, 2016, 2015, 2015, 1999, 2002, 1999, 1999, 2015, 2001, 2016
In: Computer Science
The following three defense stocks are to be combined into a stock index in January 2016 (perhaps a portfolio manager believes these stocks are an appropriate benchmark for his or her performance):
| Price | ||||||||||
| Shares (millions) |
1/1/16 | 1/1/17 | 1/1/18 | |||||||
| Douglas McDonnell | 180 | $ | 60 | $ | 64 | $ | 77 | |||
| Dynamics General | 325 | 68 | 64 | 78 | ||||||
| International Rockwell | 370 | 97 | 86 | 100 | ||||||
a. Calculate the initial value of the index if a price-weighting scheme is used. (Enter your answers rounded to 2 decimal places.)
Index Value:
b. What is the rate of return on this index for the year ending December 31, 2016? For the year ending December 31, 2017? (A negative value should be indicated by a minus sign. Do not round intermediate calculations. Enter your answers as a percent rounded to 2 decimal places.)
2016 Return: %
2017 Return: %
In: Finance
Programming language is python 3
For this project, you will import the json module.
Write a class named NeighborhoodPets that has methods for adding a pet, deleting a pet, searching for the owner of a pet, saving data to a JSON file, loading data from a JSON file, and getting a set of all pet species. It will only be loading JSON files that it has previously created, so the internal organization of the data is up to you.
For example, your class could be used like this:
np = NeighborhoodPets()
np.add_pet("Fluffy", "gila monster", "Oksana")
np.add_pet("Tiny", "stegasaurus", "Rachel")
np.add_pet("Spot", "zebra", "Farrokh")
np.save_as_json("pets.json")
np.delete_pet("Tiny")
spot_owner = np.get_owner("Spot")
np.read_json("other_pets.json") # where other_pets.json is a file it saved in some previous session
species_set = np.get_all_species()
If you implement a Pet class (which is a natural option, but not required), then when you save it, you'll want to translate the information into one of the built-in object types the json module recognizes, and translate it back the other way when you read it.
The file must be named: NeighborhoodPets.py
In: Computer Science
In Casino Las Vegas, the accounts payable clerk Mr. Alexi Lalas discovered a flaw in the accounting system (accounting software used for general ledger), the accounts payable clerk discovered that he was able to change the names, address and phone numbers of the Casino’s vendors in the computer system to his name or to any other name, there were no evident access controls to the suppliers ( vendors) master file. He would create false invoices and then create a check for the same false invoice. The name on the check would be changed to the name of the employee or any other beneficiary not related to the transaction. After the check was printed, the name in the system could then be changed back to the appropriate vendor. The check register (listing that usually shows listing of checks by date, name and amount) is used by other employees in other departments for many reasons. The fraudulent employee had authorization to sign checks under $1,000. By writing small checks over a period of time, he was able to defraud the company for more than $100,000 over the years of his employment. This fraud was caught by accident. An employee of another department was looking through the vendor list and the check register on her computer after the fraudulent employee had changed the vendor name to his name. A few entries later, the vendor name changed again to the true name of the vendor. She wondered how this could occur and asked her supervisor for an explanation. Soon after, the company’s management hired an independent fraud investigator, after further investigation and inquiries, the fraudulent employee was caught and an admission was received to proceed with the next stage. Check Register Image Inspect the check register and list your notifications with your professional findings and analysis What kind of fraud being committed in this case?, explain how such scheme is possible How could this fraud have been prevented? What actions should be taken against the fraudster(s) and why?
In: Finance
'''
Problem 2: Functions that give answers
Define and complete the functions described below.
The functions are called in the code at the very bottom. So you
should be
able simply to run the script to test that your functions work as
expected.
'''
'''
* function name: get_name
* parameters: none
* returns: string
* operation:
Here, I just want you to return YOUR name. The expected output
below assumes
that your name is Paul. Of course, replace this with the real
article.
* expected output:
# JUST RETURNS THE NAME...TO VIEW IT YOU CAN PRINT IT AS
BELOW
>>> print(get_name())
Paul
'''
'''
* function name: get_full_name
* parameters: fname (string)
lname (string)
first_last (boolean)
* returns: string
* operation:
Return (again, NOT print) the full name based on the first and last
names
passed in as arguments. The first_last argument will be True if you
should
return the name as <fname lname> and False if you shoudl
return the name
as <lname, fname>.
* expected output:
# AGAIN JUST RETURNS THE NAME...TO VIEW IT YOU CAN PRINT IT AS
BELOW
>>> print(get_full_name("Paul","York",True))
Paul York
>>> print(get_full_name("Paul","York",False))
York, Paul
'''
'''
* function name: get_circle_area
* parameters: radius (float)
* returns: float
* operation:
Return the area of a circle with the given radius. Use 3.14 as Pi.
And Google if for
some reason you've forgotten how to get the area of a circle.
* expected output:
# YET AGAIN JUST RETURNS THE VALUE
>>> print(get_circle_area(5.0))
78.5
>>> print(get_circle_area(2.5))
19.625
'''
# FUNCTIONS ARE CALLED BELOW HERE...NO NEED TO TOUCH
ANYTHING
# UNLESS YOU WANT TO COMMENT SOMETHING OUT TO TEST THINGS
# ALONG THE WAY...
print(get_name())
print(type(get_name())) # >>> <class 'str'>
print(get_full_name("Darth","Vader",True))
print(get_full_name("Luke","Skywalker",False))
print(type(get_full_name("Han","Solo",False))) # >>>
<class 'str'>
print(get_circle_area(5.0)) # 78.5
print(get_circle_area(2.5)) # 19.625
print(get_circle_area(12.25)) # 471.19625
In: Computer Science