From the following account balances to 30 June 2020 prepare a statement of financial position in the narrative classified format.
Note: you will need to determine the balance of the retained earnings.
|
Type of Account |
$ |
|
Accounts Receivable |
46500 |
|
Provisions |
50000 |
|
Prepayments |
1200 |
|
Sales Revenue |
455000 |
|
Plant and Equipment |
220000 |
|
Other Current Assets |
11000 |
|
Borrowings |
120000 |
|
Interest on Borrowings E |
6000 |
|
Accumulated Depreciation |
48500 |
|
Accounts Payable |
26000 |
|
Share Capital |
450000 |
|
Land and Buildings |
339000 |
|
Inventory |
78000 |
|
Two Year Term Deposit |
98500 |
|
Cash at Bank |
32000 |
|
Retained Earnings |
? |
|
Salaries expense |
215000 |
|
Salaries Accrued |
12500 |
|
Insurance Expense |
9000 |
|
Annual Depreciation |
22000 |
|
Utilities Expense |
8500 |
|
Selling Expenses |
25000 |
In: Accounting
The following transactions are from Sharper Vision Corporation.
a. Prepare journal entries for the transactions 1
through 4, assuming that the company uses the perpetual inventory
system and the net method to record purchases. Include any
adjusting entry required on December 31, 2020.
Note: Round answers to the nearest dollar.
| Date | Account Name | Dr. | Cr. |
|---|---|---|---|
| Dec. 10, 2020 | AnswerCashAccounts ReceivableInventoryAllowance to Reduce FIFO Inventory to LIFO BasisAccounts PayableDeferred RevenueSales RevenueCost of Goods SoldFreight-inPurchasesPurchase DiscountsPurchase Returns and AllowancesInterest ExpenseN/A | Answer | Answer |
|
AnswerCashAccounts ReceivableInventoryAllowance to Reduce FIFO Inventory to LIFO BasisAccounts PayableDeferred RevenueSales RevenueCost of Goods SoldFreight-inPurchasesPurchase DiscountsPurchase Returns and AllowancesInterest ExpenseN/A |
Answer | Answer | |
| Dec. 15, 2020 | AnswerCashAccounts ReceivableInventoryAllowance to Reduce FIFO Inventory to LIFO BasisAccounts PayableDeferred RevenueSales RevenueCost of Goods SoldFreight-inPurchasesPurchase DiscountsPurchase Returns and AllowancesInterest ExpenseN/A | Answer | Answer |
|
AnswerCashAccounts ReceivableInventoryAllowance to Reduce FIFO Inventory to LIFO BasisAccounts PayableDeferred RevenueSales RevenueCost of Goods SoldFreight-inPurchasesPurchase DiscountsPurchase Returns and AllowancesInterest ExpenseN/A |
Answer | Answer | |
| Dec. 19, 2020 | AnswerCashAccounts ReceivableInventoryAllowance to Reduce FIFO Inventory to LIFO BasisAccounts PayableDeferred RevenueSales RevenueCost of Goods SoldFreight-inPurchasesPurchase DiscountsPurchase Returns and AllowancesInterest ExpenseN/A | Answer | Answer |
|
AnswerCashAccounts ReceivableInventoryAllowance to Reduce FIFO Inventory to LIFO BasisAccounts PayableDeferred RevenueSales RevenueCost of Goods SoldFreight-inPurchasesPurchase DiscountsPurchase Returns and AllowancesInterest ExpenseN/A |
Answer | Answer | |
| Dec. 31. 2020 | AnswerCashAccounts ReceivableInventoryAllowance to Reduce FIFO Inventory to LIFO BasisAccounts PayableDeferred RevenueSales RevenueCost of Goods SoldFreight-inPurchasesPurchase DiscountsPurchase Returns and AllowancesInterest ExpenseN/A | Answer | Answer |
|
AnswerCashAccounts ReceivableInventoryAllowance to Reduce FIFO Inventory to LIFO BasisAccounts PayableDeferred RevenueSales RevenueCost of Goods SoldFreight-inPurchasesPurchase DiscountsPurchase Returns and AllowancesInterest ExpenseN/A |
Answer | Answer | |
| To record adjusting entry for interest. | |||
| Jan. 5, 2021 | AnswerCashAccounts ReceivableInventoryAllowance to Reduce FIFO Inventory to LIFO BasisAccounts PayableDeferred RevenueSales RevenueCost of Goods SoldFreight-inPurchasesPurchase DiscountsPurchase Returns and AllowancesInterest ExpenseN/A | Answer | Answer |
|
AnswerCashAccounts ReceivableInventoryAllowance to Reduce FIFO Inventory to LIFO BasisAccounts PayableDeferred RevenueSales RevenueCost of Goods SoldFreight-inPurchasesPurchase DiscountsPurchase Returns and AllowancesInterest ExpenseN/A |
Answer | Answer |
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In: Accounting
what are the goals and objectives of Xiaomi Corporation from 2020 to 2025.
(Use your own words at least 500 words)
In: Operations Management
The following cover letter outlines how the writing fits the criteria from the job posting and asks for an interview. This message does not employ an audience centered, professional tone. Additionally, the message contains several verb errors (tense and passive voice), number usage errors, grammatical errors, spelling errors, sentence errors (run-on, comma splices, etc.), and style errors.
Instructions: Within the body of the e-mail below, highlight the sentences that contain errors. (Click once to highlight and click again to remove highlight.)
October 5, 2011
Kinder Morgan
Jerusalem Station
Littleton, NC 27850
Dear Sir or Madam:
Re: Line Patroller Position
I hope you please consider accepting this letter an application for the line patroller position posted on the Kinder Morgan web site. The listing states that the line patroller’s primary purpose is to “perform and coordinate work group activities including patrolling, locating, and inspecting construction and inspecting excavation of company gas/liquids pipelines, appurtenances, compressor stations, process plants, and other related facilities.” I would like to elaborate on several qualities I possess in the areas of effective decision-making skills, ability to deal with pressure, planning/organizing/following-up skills, and teamwork skills that make me the perfect candidate for the Line Patroller position.
Throughout my career, I have reviewed items from simple reports to elaborate architectural drawings and have made recommendations. As an officer in the US air force, I regularly reviewed and wrote important documents and not only briefed colonels and generals but provided recommended courses of action to deal with achieving our objectives.
While employed at sunshine bank I worked closely with our architects who designed new branches and our corporate headquarters. My role was to make recommendations regarding the safety and security of the buildings for our clients, employees, and assets. I also regularly briefed the executive board of the bank to information them of my recommendations and our progress.
My proven record of success in the areas listed above will prove to be an asset for Kinder Morgan. You will find that my experience and character make me the perfect candidate to fill the line patroller position. Take the next week for consideration, and I will call to schedule the next step to becoming part of your organization.
Sincerely,
Peter E. Sampson
In: Economics
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In: Finance
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In: Operations Management
MANAGEMENT TITLE ACRONYMS: Matching: ONE answer each
A. BOD B. CAO C. CCO D. COO E. CTO
A. CFO B. CEO
75. In charge of the machinery and technical assets of an organization.
76. Essentially a group of consultants working for the company who among other things, are responsible for hiring and firing the
CEO of the organization.
77. In charge of gathering and then reporting certain statistics to the government or other monitoring organizations
regarding how much and how well the organization is achieving specific required goals and mandates.
78. In charge of product production/manufacturing operations of an organization.
79. In charge of the Administrative functions of an organization.
80. In charge of the Finance function of an organization.
81. The top, highest ranking, person in the organization.
PASSWORD/IDENTIFICATION TECHNIQUES (Matching) (one answer each!)
A. Something you have B. Something you know C. Something you do D. Something you are
82. Your mother’s maiden name
83. An eyeball scan
84. Your password (not “something you do”)
85. A key or an identification card
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In: Operations Management
What four financial statements can be found in a firm's 10-K filing? What checks are there on the accuracy of these statements?
Every public company is required to produce quarterly and annual financial statements. Those statements are: (Select all the choices that apply.)
A.The statement of financial position.
B. The income statement.
C. The statement of cash flows.
D. The statement of stockholders' equity.
E. The statement of stockholders' liabilities.
What checks are there on the accuracy of these statements? (Select all the choices that apply.)
A. Public companies must use a common set of rules and standard format when they prepare their reports.
B. Corporations are required to hire a neutral party, known as an auditor, to check the annual financial statements, ensure that the statements are prepared according to GAAP and provide evidence to support the reliability of the information.
C. In addition to the auditor's role in reviewing the financial statements, the Sarbanes-Oxley Act requires both the CEO and the CFO to personally attest to the accuracy of the financial statements presented to shareholders and to sign a statement to that effect.
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Describe to the CEO how the 5Vs of big data could impact this analytic project ?
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As CEO, which type of audit opinion would you prefer most and why?
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