Mona Company is a merchandising company that sells a single product. The company's inventories, production, and sales in units for the next three months have been forecasted as follows:

Units are sold for $12 each. One fourth of all sales are paid for in the month of sale and the balance are paid for in the following month. Accounts receivable at September 30 totaled $450,000.

Merchandise is purchased for $7 per unit. Half of the purchases are paid for in the month of the purchase and the remainder are paid for in the month following purchase.

Selling and administrative expenses are expected to total $120,000 each month. One half of these expenses will be paid in the month in which they are incurred and the balance will be paid in the following month.

There is no depreciation.

Accounts payable at September 30 totaled $290,000.
Cash at September 30 totaled $80,000.

A payment of $300,000 for purchase of equipment is scheduled for November, and a dividend of $200,000 is to be paid in December.

Required:

a. Prepare a schedule of expected cash collections for each of the months of October, November, and December.
b. Prepare a schedule showing expected cash disbursements for merchandise purchases and selling and administrative expenses for each of the months October, November, and December.
c. Prepare a cash budget for each of the months October, November, and December. There is no minimum required ending cash balance.

The following information applies to the questions displayed below.]

On October 31, 2018, the bank statement for the checking account of Blockwood Video shows a balance of $13,079, while the company’s records show a balance of $12,356. Information that might be useful in preparing a bank reconciliation is as follows:

a. Outstanding checks are $1,255.
b. The October 31 cash receipts of $810 are not deposited in the bank until November 2.
c. One check written in payment of utilities for $142 is correctly recorded by the bank but is recorded by Blockwood as a disbursement of $412.
d. In accordance with prior authorization, the bank withdraws $455 directly from the checking account as payment on a note payable. The interest portion of that payment is $55 and the principal portion is $400. Blockwood has not recorded the direct withdrawal.
e. Bank service fees of $29 are listed on the bank statement.
f. A deposit of $572 is recorded by the bank on October 13, but it did not belong to Blockwood. The deposit should have been made to the checking account of Hollybuster Video, a separate company.
g. The bank statement includes a charge of $80 for an NSF check. The check is returned with the bank statement, and the company will seek payment from the customer.

Required information

Required:

1. Prepare a bank reconciliation for the Blockwood checking account on October 31, 2018. (Amounts to be deducted should be indicated with a minus sign.)

2. Record the necessary cash adjustments. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)

Please complete the October adjusting journal entries with the information provided. (Not all information provided may be relevant in completing the question).

1. Stephanie is planning an office party. She has the following utility function for fruit and cheese:

She has an income equal to $ 50 to spend on cheese and fruit. She prices the fruit and cheese during the first week of October. At this time the price of fruit per pound $ 1 and the price of cheese per pound equals $ 3 .

During the second week of October the price of fruit increased to $ 5 . 25 per pound. If Stephanie purchases the fruit and cheese at this time what is the magnitude of the substitution effect of this price change measured in pounds of fruit? Round your answer to the fourth decimal point.

2. Stephanie is planning an office party. She has the following utility function for fruit and cheese:

She has an income equal to $ 50 to spend on cheese and fruit. She prices the fruit and cheese during the first week of October. At this time the price of fruit per pound $ 1 and the price of cheese per pound equals $ 2 .

During the second week of October the price of fruit increased to $ 6 per pound. If Stephanie purchases the fruit and cheese at this time what is the magnitude of the income effect of this price change measured in pounds of fruit? Round your answer to the fourth decimal point.

Problem 2-26

On December 31, 2015, Alpha had the following balances (all balances are normal):

The following events occurred during 2015 and were not recorded:

1. On January 1, Alpha declared a 5% stock dividend on its common stock when the market value of the common stock was $15 per share
2. Stock dividends were distributed on January 31 to shareholders as of January 25.

c.        On February 15, Alpha reacquired 1,000 shares of common stock for $20 each.

d. On March 31, Alpha reissued 250 shares of treasury stock for $25 each.

e. On July 1, Alpha reissued 500 shares of treasury stock for $16 each.

f. On October 1, Alpha declared full year dividends for preferred stock (see outstanding shares in table above).

g. Then, paid preferred shareholders on October 15

h. On October 1, Alpha also declared $1.50 cash dividends per share for the 104,750 remaining common outstanding shares.

i. Then, paid common shareholders on October 15.

Requirements:

Prepare journal entries for the transactions listed above. Note: there may be more rows in the table than the journal entries that are required.

Ford Motor Company submits an 8-K document to the SEC which includes Ford’s outlook for certain metrics. In the data given, we see the document for the 3rd quarter 2019 date October 23. We were given Ford’s outlook for the year ended December 31, 2019. The document that follows, dated February 23 was the actual metrics for the year ended December 31, 2019. Using this information, answer the following questions. 1. At October 23, 2019, Ford forecasted (budgeted) that its adjusted free cash flow for the year would grow over the prior year. Looking at the results dated February 23, did Ford meet that forecast? Is this a favorable or unfavorable variance? 2. At October 23, 2019, Ford forecasted (budgeted) that its adjusted EBIT (earnings before income tax) would be between $6.5 - $7.0 billion. Looking at the results dated February 23, did Ford meet that forecast? Is this a favorable or unfavorable variance? 3. At October 23, 2019, Ford forecasted (budgeted) that its adjusted EPS (earnings per share) would be $1.20 - $1.32 per share. Looking at the results dated February 23, did Ford meet that forecast? Is this a favorable or unfavorable variance? 4. What is Ford’s President, Jim Hacket’s reason regarding the budget variances?

Part I. References

Directions: Take the following references and put them in APA format as they would be listed in the References section of a paper. Look at the example References section in the APA manual. Type and format the entire section as if you were creating it for an actual paper. Do not use the numbering system below. For each entry below, just use the information available to you and put it in APA format to the best of your ability. You do not need to look up the actual documents to retrieve any additional information (in some cases information has been altered for the purpose of the assignment or no longer exits).

1.

Anderson, Jason. R.

1995.

Cognitive psychology and its implications

4th edition

W. H. Freeman

New York

2.

Morgan, Michael

Television, sex-role attitudes, and sex-role behavior

“Journal of Early Adolescence.”

volume 7.

269-282.

[1987].

3.       

Connolly, Ceci

October 14, 2009

“Health insurers emerge as Obama’s top foe in reform effort.”

The Washington Post

p. A6

4.

Andersen, Simon Martin

Rachel Lisa Klatzky and John Murray

Journal of Personality and Social Psychology

volume 59

pp. 192-201

1990

Traits And Social Stereotypes: Efficiency Differences In Social Information Processing

5.

Editors: Lewis, M & Haviland, J.

Authors: Brody, L. R. and Hall, J.

Chapter: gender and emotion

Book: Handbook of Emotion,

Published: New York, Guilford Press, 1983

pp. 75-100

6.

Author: Freeman, Janis J.

Title on page: “The women's liberation movement: Its origin, structures and ideals”.

http://scriptorium.lib.duke.edu/wlm/womlib/

no date on page

7.

1987

Sondra Lipowitz Bem

“Probing the promise of androgyne.”

Martin Robert Walsh (Editor)

The Psychology Of Women

pages 206-225

Yale University Press located in New Haven, Connecticut.

8.  

Rainey, James

2009

Friday, October 2, 2009

Los Angeles Times

We Still Need News Judgment

p. A2

9.

Jamieson, Kathleen Hall

(1995), Beyond the double bind: Women and leadership

New York: Oxford University Press

10.

“China’s disaster recovery continues through a mobile learning center project.”

United Way Worldwide

15 Apr 2009

http://www.unitedway.org/worldwide/news/newsdisplay.cfm?nid=167&MID=66.