"update" "non-redundant database" 2018 empirical citations 2000 questions

Questions

Calloway Company reported the following balance sheet data for 2018 and 2017: 2018 2017 Cash $77,375...

Calloway Company reported the following balance sheet data for 2018 and 2017:

	*2018*	2017
Cash	$77,375	$22,955
Available-for-sale debt securities
(not cash equivalents)	15,500	85,000
Accounts receivable	80,000	68,250
Inventory	165,000	145,000
Prepaid insurance	1,500	2,000
Land, buildings, and equipment	1,250,000	1,125,000
Accumulated depreciation	(610,000)	(572,000)
Total assets	$979,375	$876,205
Accounts payable	$76,340	$148,670
Salaries payable	20,000	24,500
Notes payable (current)	25,000	75,000
Bonds payable	200,000	0
Common stock	300,000	300,000
Retained earnings	358,035	328,035
Total liabilities and shareholders' equity	$979,375	$876,205

Additional information for 2018:

(1.) Sold available-for-sale debt securities costing $69,500 for $74,000.

(2.) Equipment costing $20,000 with a book value of $5,000 was sold for $6,000.

(3.) Issued 6% bonds payable at face value, $200,000.

(4.) Purchased new equipment for $145,000 cash.

(5.) Paid cash dividends of $20,000. This was the only change to Retained Earnings other than Net Income.

Required:

Prepare a full statement of cash flows for 2018 in good form using the indirect method.

Also, for additional question:

1. costing 69,500 and sold for 7400, which account does it affect?

2. what is the relationship between "costing" "book value" "was sold for"

3. what is face value and which account it is

4. the teacher did not give me the net income, where can i find it

In: Accounting

Buck had the following items for 2018. Calculate his adjusted gross income (AGI) for 2018. Write...

Buck had the following items for 2018. Calculate his adjusted gross income (AGI) for 2018. Write down how each of the following items impacts the AIG and calculate the AGI.

Buck and his ex-wife divorced in 2010.

If an item increases the AGI, write the positive number. If an item decreases the AGI, write the negative number. If an item does not impact the AGI, write 0. For instance, he had wages of $80,000. Write 80,000 or 80000.

Wages $80,000

Interest income from corporate bonds $27,000

Alimony paid to her ex-wife $2,000

Itemized deductions $8,000

Standard Deduction $12,000

Cash gift from grandma $8,000

Wages	80,000
Interest income from corporate bonds
Alimony paid
Itemized deductions
Standard deduction
Cash gift
AGI

a) How does the interest income from Corporate bonds impact his AGI?

B. How does the alimony paid impact his AGI?

(c) How do his itemized deductions impact his AGI?

(d) How does the Standard deduction impact his AGI?

How does the cash gift impact his AGI?

(f) What is his AGI?

In: Accounting

Income statements for Burch Company for 2018 and 2019 follow: BURCH COMPANY Income Statements 2019 2018...

Income statements for Burch Company for 2018 and 2019 follow:

BURCH COMPANY Income Statements
	2019		2018
Sales	$	240,000	$	200,000
Cost of goods sold		180,000		124,000
Selling expenses		26,000		20,000
Administrative expenses		12,000		18,000
Interest expense		7,500		8,000
Total expenses	$	225,500	$	170,000
Income before taxes		14,500		30,000
Income taxes expense		1,200		3,000
Net income	$	13,300	$	27,000

Required

a. Perform a horizontal analysis, showing the percentage change in each income statement component between 2018 and 2019.

b. Perform a vertical analysis, showing each income statement component as a percentage of sales for each year.

In: Accounting

The urgent care manager must resubmit her budget based on 2018 projected visits. The 2018 budget...

The urgent care manager must resubmit her budget based on 2018 projected visits. The 2018 budget should be based on actual expenses and visits incurred during the first seven months of 2017. Cost standards (2017) and budget standards (2018) must be prepared for all variable costs (indicated by a V behind the object code description). All fixed costs (F) should be projected using the incremental budgeting methodology. Projected visits is 2018 is 52,560. Salary and fringe benefit (object codes 4000-4199) increases for all personnel should be estimated at 4.0% except for health insurance (4120) which is expected to increase by 8%. Input price increases for supplies and other costs (4200-4960) should be increased by 3% except for medications, 5% increase and profession insurance, 10%. All increases are effective January 1, 2015. The budget report, BudgetCh06, Problem 6.1 tab, shows the urgent care centers expenses for 2016 and the actual and budgeted expenses for the first seven months of 2017. The CEO has requested all department heads submit their 2015 operating budget by Wednesday, March 21, 2014. The 2018 fiscal year begins January 1, 2018.

Total Visits		51,986	30,331	30,672	52,560

Obj.Code	Description	2016	Actual 2017	Budget 2017	Budget 2018
4010	Physician salaries – V	$960,000	$585,306	$576,800	________
4020	Nursing staff salaries – V	1,380,000	857,157	829,150	________
4030	Management & clerical salaries – F	780,000	466,971	468,650	________
4110	FICA – F	238,680	143,397	143,407	________
4120	Health Insurance – F	390,000	238,760	234,325	________
4130	Retirement – F	124,800	76,763	74,984	________
4140	Unemployment – F	31,200	18,323	18,746	________
4211	Medications – V	148,152	91,687	89,015	________
4212	Medical instruments - V	102,792	64,287	61,761	________
4214	Bandages, gauze… - V	57,468	34,140	34,529	________
4216	Latex gloves, gowns… - V	40,416	24,476	24,283	________
4216	Sterile wipes – V	26,820	15,780	16,114	________
4250	Office supplies – V	115,200	69,388	69,216	________
4280	Cleaning supplies – V	39,048	23,103	23,461	________
4310	Rent – F	144,000	89,251	86,520	________
4350	Maintenance – F	13,764	11,245	8,270	________
4410	Electricity – F	10,788	6,684	6,482	________
4420	Gas – F	18,504	11,215	11,118	________
4430	Water and Sewage – F	6,756	4,225	4,059	________
4440	Telephone – F	3,228	2,004	1,939	________
4930	Housekeeping – F	36,000	21,694	21,630	________
4940	Travel/professional meetings/meals – F	7,908	4,744	4,751	________
4945	Professional Insurance – F	22,380	15,669	13,447	________
4950	CME – F	29,856	17,994	17,938	________
4960	Other expenses - F	57,732	35,955	34,687	________
		$4,785,492	$2,930,217	$2,875,283	________

B. Compare and contrast the incremental budget (prepared in homework 4) and the flexible budget.

C. Assume 2015 has been completed and actual output is 53,011, restate (or flex) the budget, what is the final budget the manager will be accountable to?

D. Assume 2015 has been completed and actual output is 51,543, restate the budget what is the final budget the manager will be accountable to?

In: Accounting

Puzzle Corporation's preliminary Trial balance as of December 31, 2018 is presented below. All 2018 transactions...

Puzzle Corporation's preliminary Trial balance as of December 31, 2018 is presented below. All 2018
transactions have been recorded except for the items described below.


		Debit		Credit
Cash	$	29,636
Accounts Receivable		48,300
Inventory		20,423
Land		65,400
Buildings		125,000
Equipment		86,250
Allowance for Doubtful Accounts			$	735
Accumulated Depreciation-Buildings				24,600
Accumulated Depreciation-Equipment				34,200
Accounts Payable				16,785
Interest Payable				0
Dividends Payable				0
Unearned Rent Revenue				13,000
Income Tax Payable				0
Bonds Payable				0
Discount on Bonds Payable		0
Common Stock ($8 par)				30,000
Paid in Capital in Excess of Par-Common Stock				11,834
Preferred Stock ($25 par)				0
Paid in Capital in Excess of Par-Preferred Stock				0
Retained Earnings				105,862
Treasury Stock		0
Cash Dividends		0
Sales Revenue				585,245
Rent Revenue				0
Bad Debt Expense		0
Interest Expense		0
Cost of Goods Sold		331,578
Depreciation Expense		0
Other Operating Expenses		39,465
Salaries and Wages Expense		76,209
Income Tax Expense		0
Total	$	822,261	$	822,261





					CONTINUED

Unrecorded transactions
1. On January 1, 2018, Puzzle issued 1,000 shares of $25 par, 6% preferred stock for $36,500.

2. On January 1, 2018, Puzzle also issued 1,000 shares of common stock for $45,275.

3. On January 1, 2018, Puzzle issued $46,000, 6.25%, 8 year bonds when the market rate was 7%.
Interest is to be paid annually on each January 1, beginning January 1, 2019.

4. Puzzle reaquired 450 shares of its common stock on May 5 for $48 per share.

5. On December 31, 2018, Puzzle declared the annual preferred dividend as well as a $1.75 per
share dividend on the outstanding common stock, all payable in cash on January 15, 2019.

6. Puzzle estimates that the total amount of accounts receivable that
is uncollectible at year end is $3,289.

7. The building is being depreciated using the straight line method over 25 years.
The salvage value is $22,500.

8. The equipment is being depreciated using the straight line method over 9 years.
The salvage value is $9,300.

9. The unearned rent was collected on November 1, 2018. It was receipt of 5 months'
rent in advance.

10. The 6.25% bonds payable pay interest every January 1. The interest for the
12 months ended December 31, 2018, has not been recorded. Puzzle uses the
effective interest method of amortization.

11. The Puzzle Corporation must make an adjusting entry to accrue income tax expense on
Income Before Income Tax at a rate of 26.5%. The income taxes will not be paid until March 2019.

Instructions:

(a) Prepare Journal entries for the transactions listed above. Round final answers if necessary to -0-
decimals (to the nearest dollar, do not show cents).

(b) Prepare an updated December 31, 2018 trial balance, reflecting the unrecorded transactions.

(c) Prepare a multiple-step income statement for the year ending December 31, 2018.

(d) Prepare a retained earnings statement for the year ending December 31, 2018.

(e) Prepare a classified balance sheet as of December 31, 2018.

In: Accounting

Document and Entity Information - USD ($) 12 Months Ended Feb. 03, 2018 Mar. 08, 2018...

Document and Entity Information - USD ($)	12 Months Ended
Document and Entity Information - USD ($)	Feb. 03, 2018	Mar. 08, 2018	Jul. 29, 2017
Document and Entity Information
Entity Registrant Name	TARGET CORP
Entity Central Index Key	0000027419
Document Type	10-K
Document Period End Date	Feb. 03, 2018
Amendment Flag	false
Current Fiscal Year End Date	--02-03
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Filer Category	Large Accelerated Filer
Entity Public Float			$ 30,595,914,184
Entity Common Stock, Shares Outstanding		538,796,010
Document Fiscal Year Focus	2017
Document Fiscal Period Focus	FY

Mailing Address 1000 NICOLLET MALL MINNEAPOLIS MN 55403

Business Address 1000 NICOLLET MALL MINNEAPOLIS MN 55403 6123046073

TARGET CORP (Filer) CIK: 0000027419 (see all company filings)

Use Target Corporation’s most recent annual report, to calculate:

Current ratio
Times interest earned
Liabilities-to-equity ratio
Return on equity
Return on assets
Financial leverage

Show calculations for each of the ratios.

In: Accounting

Solve the follwing Problem Labels; Expenses For the Month Ended August 31, 2018 August 31, 2018...

Solve the follwing Problem Labels;
Expenses
For the Month Ended August 31, 2018
August 31, 2018
Accounts;
Accounts payable
Auto expense
Cash
Common stock
Dividends
Miscellaneous expense
Rent expense
Retained earnings
Salaries expense
Sales commissions
Supplies
Supplies expense
Amount Descriptions;
Change in retained earnings
Net income
Net loss
Retained earnings, August 1, 2018
Retained earnings, August 31, 2018
Total assets
Total expenses
Total liabilities and stockholders’ equity
Total stockholders’ equity

On August 1, 2018, Brooke Kline established Western Realty. Brooke completed the following transactions during the month of August.

A.	Opened a business bank account with a deposit of $27,000 in exchange for common stock.
B.	Paid rent on office and equipment for the month, $3,400.
C.	Paid automobile expenses (including rental charge) for month, $1,450, and miscellaneous expenses, $900.
D.	Purchased office supplies on account, $1,250.
E.	Earned sales commissions, receiving cash, $22,000.
F.	Paid creditor on account, $750.
G.	Paid office salaries, $2,700.
H.	Paid dividends, $3,100.
I.	Determined that the cost of supplies on hand was $500; therefore, the cost of supplies used was $750.

	Required:
1.	Indicate the effect of each transaction and the balances after each transaction, using the tabular headings in the exhibit below. In each transaction row (rows indicated by a letter), you must indicate the math sign (+ or -) in columns affected by the transaction. You will not need to enter math signs in the balance rows (rows indicated by Bal.). Entries of 0 (zero) are not required and will be cleared if entered.

Required:

1.

Indicate the effect of each transaction and the balances after each transaction, using the tabular headings in the exhibit below. In each transaction row (rows indicated by a letter), you must indicate the math sign (+ or -) in columns affected by the transaction. You will not need to enter math signs in the balance rows (rows indicated by Bal.). Entries of 0 (zero) are not required and will be cleared if entered.

Assets		= Liabilities +	Stockholders’ Equity

		Accounts	Common		Sales	Salaries	Rent	Auto	Supplies	Miscellaneous
Cash	+ Supplies	= Payable	+ Stock	- Dividends	+ Commissions	- Expense	- Expense	- Expense	- Expense	- Expense

	2. a. Prepare an income statement for August. If a net loss has been incurred, enter that amount as a negative number using a minus sign. Refer to the list of Labels, Accounts and Amount Descriptions for the exact wording of the answer choices for text entries. Be sure to complete the statement heading. You will not need to enter colons (:) on the income statement.
	2. b. Prepare a retained earnings statement for August. Refer to the list of Labels, Accounts and Amount Descriptions for the exact wording of the answer choices for text entries. Be sure to complete the statement heading. If a net loss is incurred or dividends were paid, enter that amount as a negative number using a minus sign. The word “Less” or “Add” is not needed in the Retained Earnings Statement. If an amount is zero, enter "0".
	2. c. Prepare a balance sheet as of August 31. Refer to the list of Labels, Accounts and Amount Descriptions for the exact wording of the answer choices for text entries. Be sure to complete the statement heading.

In: Accounting

Stevens Textile Corporation's 2018 financial statements are shown below: Balance Sheet as of December 31, 2018...

Stevens Textile Corporation's 2018 financial statements are shown below:

Balance Sheet as of December 31, 2018 (Thousands of Dollars)

Cash	$ 1,080	Accounts payable	$ 4,320
Receivables	6,480	Accruals	2,880
Inventories	9,000	Line of credit	0
Total current assets	$16,560	Notes payable	2,100
Net fixed assets	12,600	Total current liabilities	$ 9,300
		Mortgage bonds	3,500
		Common stock	3,500
		Retained earnings	12,860
Total assets	$29,160	Total liabilities and equity	$29,160

Income Statement for January 1 - December 31, 2018 (Thousands of Dollars)

Sales	$36,000
Operating costs	32,440
Earnings before interest and taxes	$ 3,560
Interest	460
Pre-tax earnings	$ 3,100
Taxes (40%)	1,240
Net income	$ 1,860
Dividends (45%)	$ 837
Addition to retained earnings	$ 1,023

Suppose 2019 sales are projected to increase by 10% over 2018 sales. Use the forecasted financial statement method to forecast a balance sheet and income statement for December 31, 2019. The interest rate on all debt is 7%, and cash earns no interest income. Assume that all additional debt in the form of a line of credit is added at the end of the year, which means that you should base the forecasted interest expense on the balance of debt at the beginning of the year. Use the forecasted income statement to determine the addition to retained earnings. Assume that the company was operating at full capacity in 2018, that it cannot sell off any of its fixed assets, and that any required financing will be borrowed as notes payable. Also, assume that assets, spontaneous liabilities, and operating costs are expected to increase by the same percentage as sales. Determine the additional funds needed. Do not round intermediate calculations. Round your answers to the nearest dollar.
Total assets: $
AFN: $
What is the resulting total forecasted amount of the line of credit? Do not round intermediate calculations. Round your answer to the nearest dollar.
$
In your answers to Parts a and b, you should not have charged any interest on the additional debt added during 2019 because it was assumed that the new debt was added at the end of the year. But now suppose that the new debt is added throughout the year. Don't do any calculations, but how would this change the answers to parts a and b?
If debt is added throughout the year rather than only at the end of the year, interest expense will be -Select-higherlowerItem 4 than in the projections of part a. This would cause net income to be -Select-higherlowerItem 5 , the addition to retained earnings to be -Select-higherlowerItem 6 , and the AFN to be -Select-higherlowerItem 7 . Thus, you would have to -Select-add insubtract fromItem 8 new debt.

In: Finance

Alcorn Service Company was formed on January 1, 2018. Events Affecting the 2018 Accounting Period Acquired...

Alcorn Service Company was formed on January 1, 2018.

Events Affecting the 2018 Accounting Period

Acquired $72,000 cash from the issue of common stock.
Purchased $3,600 of supplies on account.
Purchased land that cost $42,000 cash.
Paid $3,600 cash to settle accounts payable created in Event 2.
Recognized revenue on account of $66,000.
Paid $33,000 cash for other operating expenses.
Collected $50,000 cash from accounts receivable.

Information for 2018 Adjusting Entries

Recognized accrued salaries of $4,400 on December 31, 2018.
Had $1,400 of supplies on hand at the end of the accounting period.

Events Affecting the 2019 Accounting Period

Acquired $32,000 cash from the issue of common stock.
Paid $4,400 cash to settle the salaries payable obligation.
Paid $7,200 cash in advance to lease office space.
Sold the land that cost $42,000 for $42,000 cash.
Received $8,400 cash in advance for services to be performed in the future.
Purchased $2,200 of supplies on account during the year.
Provided services on account of $44,000.
Collected $45,000 cash from accounts receivable.
Paid a cash dividend of $4,000 to the stockholders.
Paid other operating expenses of $31,500.

Information for 2019 Adjusting Entries

The advance payment for rental of the office space (see Event 3) was made on March 1 for a one-year term.
The cash advance for services to be provided in the future was collected on October 1 (see Event 5). The one-year contract started on October 1.
Had $1,500 of supplies remaining on hand at the end of the period.
Recognized accrued salaries of $5,100 at the end of the accounting period.
Recognized $1,600 of accrued interest revenue.

b-1. Prepare an income statement for 2018 and 2019.
b-2. Prepare the statement of changes in stockholders’ equity for 2018 and 2019.
b-3. Prepare the balance sheet for 2018 and 2019.
b-4. Prepare the statement of cash flows for 2018 and 2019, using the vertical statements model.

In: Accounting

Income statements for Benson Company for 2018 and 2019 follow: BENSON COMPANY Income Statements 2019 2018...

Income statements for Benson Company for 2018 and 2019 follow:

BENSON COMPANY Income Statements
	2019		2018
Sales	$	201,900	$	181,900
Cost of goods sold		143,600		121,600
Selling expenses		21,900		19,900
Administrative expenses		12,200		14,200
Interest expense		3,300		5,300
Total expenses	$	181,000	$	161,000
Income before taxes		20,900		20,900
Income taxes expense		6,600		3,500
Net income	$	14,300	$	17,400

Required

Perform a horizontal analysis, showing the percentage change in each income statement component between 2018 and 2019.
Perform a vertical analysis, showing each income statement component as a percentage of sales for each year.

In: Accounting