Please TYPE your answers:
(a) Name the types of NONsampling error and define them in a sentence or two.
(b) Name the types of sampling error and define them in a sentence or two.
In: Statistics and Probability
Triplicates. Given three lists of N names each, devise a linearithmic algorithm to determine if there is any name common to all three lists, and if so, return the first such name
In: Computer Science
Explain the three stages in the international product life cycle theory by providing an illustrative example (please provide the name of the company and the name of the product) to explain each stage of this theory.
In: Operations Management
Problem 23-1 The following are Sheridan Corp.’s comparative balance sheet accounts at December 31, 2017 and 2016, with a column showing the increase (decrease) from 2016 to 2017. COMPARATIVE BALANCE SHEETS 2017 2016 Increase (Decrease) Cash $806,900 $700,900 $106,000 Accounts receivable 1,131,700 1,159,400 (27,700 ) Inventory 1,842,900 1,730,100 112,800 Property, plant, and equipment 3,300,200 2,968,200 332,000 Accumulated depreciation (1,173,600 ) (1,037,600 ) (136,000 ) Investment in Myers Co. 307,300 277,000 30,300 Loan receivable 247,500 — 247,500 Total assets $6,462,900 $5,798,000 $664,900 Accounts payable $1,020,900 $950,800 $70,100 Income taxes payable 30,000 50,200 (20,200 ) Dividends payable 80,500 100,500 (20,000 ) Lease liabililty 392,000 — 392,000 Common stock, $1 par 500,000 500,000 — Paid-in capital in excess of par—common stock 1,489,000 1,489,000 — Retained earnings 2,950,500 2,707,500 243,000 Total liabilities and stockholders’ equity $6,462,900 $5,798,000 $664,900 Additional information: 1. On December 31, 2016, Sheridan acquired 25% of Myers Co.’s common stock for $277,000. On that date, the carrying value of Myers’s assets and liabilities, which approximated their fair values, was $1,108,000. Myers reported income of $121,200 for the year ended December 31, 2017. No dividend was paid on Myers’s common stock during the year. 2. During 2017, Sheridan loaned $291,600 to TLC Co., an unrelated company. TLC made the first semiannual principal repayment of $44,100, plus interest at 10%, on December 31, 2017. 3. On January 2, 2017, Sheridan sold equipment costing $60,000, with a carrying amount of $38,100, for $40,400 cash. 4. On December 31, 2017, Sheridan entered into a capital lease for an office building. The present value of the annual rental payments is $392,000, which equals the fair value of the building. Sheridan made the first rental payment of $59,900 when due on January 2, 2018. 5. Net income for 2017 was $323,500. 6. Sheridan declared and paid the following cash dividends for 2017 and 2016. 2017 2016 Declared December 15, 2017 December 15, 2016 Paid February 28, 2018 February 28, 2017 Amount $80,500 $100,500 Prepare a statement of cash flows for Sheridan Corp. for the year ended December 31, 2017, using the indirect method. (Show amounts that decrease cash flow with either a - sign e.g. -15,000 or in parenthesis e.g. (15,000).) SHERIDAN CORP. Statement of Cash Flows $ Adjustments to reconcile net income to $ $ $
In: Accounting
From the information below prepare, in proper accounting form the, Income Statement, Balance Sheet, and Statement of Changes in Owners’ Equity, and Statement of Cash Flows for 2016 and 2017.
In your Income Statement Calculation, include Subtotals for EBITDA, EBIT, and EBT in addition to Net Income. You must submit your answers in either a MS Word or an MS Excel file.
|
TANDY COMPANY |
Year Ending |
||||
|
6/30/2017 |
6/30/2016 |
6/30/2015 |
|||
|
Common Stock 100,000 shares outstanding |
$460,000 |
$460,000 |
$460,000 |
||
|
Net Receivables |
632,160 |
351,200 |
315,000 |
||
|
Cost of Goods Sold |
5,528,000 |
2,864,000 |
2,706,000 |
||
|
Expenses |
519,988 |
358,672 |
330,000 |
||
|
Interest Expense |
136,012 |
43,828 |
42,500 |
||
|
Property Plant and Equipment |
1,202,950 |
491,000 |
476,000 |
||
|
Less Accumulated Depreciation |
263,160 |
146,200 |
127,300 |
||
|
Income Taxes (40%) |
?? |
58,640 |
80,680 |
||
|
Cash And Cash Equivalents |
7,282 |
57,600 |
37,500 |
||
|
Sales |
6,034,000 |
3,432,000 |
3,300,000 |
||
|
Accounts Payable |
524,160 |
145,600 |
166,000 |
||
|
Notes Payable |
636,808 |
200,000 |
200,000 |
||
|
Accrued Liabilities |
489,600 |
136,000 |
122,000 |
||
|
Depreciation Expense |
116,960 |
18,900 |
19,800 |
||
|
Long Term Debt |
723,432 |
323,432 |
323,432 |
||
|
Inventory |
1,287,360 |
715,200 |
675,000 |
||
|
Dividends |
11,000 |
22,000 |
22,000 |
||
|
Retained Earnings |
32,592 |
203,768 |
104,748 |
||
|
Other Information |
|||||
|
The firm had sufficient taxable income in 2016 and 2015 to obtain a full refund in 2017 |
|||||
|
Net Income for 2016 |
$87,960 |
||||
|
TANDY COMPANY |
Year Ending |
||||
|
6/30/2017 |
6/30/2016 |
6/30/2015 |
|||
|
Common Stock 100,000 shares outstanding |
$460,000 |
$460,000 |
$460,000 |
||
|
Net Receivables |
632,160 |
351,200 |
315,000 |
||
|
Cost of Goods Sold |
5,528,000 |
2,864,000 |
2,706,000 |
||
|
Expenses |
519,988 |
358,672 |
330,000 |
||
|
Interest Expense |
136,012 |
43,828 |
42,500 |
||
|
Property Plant and Equipment |
1,202,950 |
491,000 |
476,000 |
||
|
Less Accumulated Depreciation |
263,160 |
146,200 |
127,300 |
||
|
Income Taxes (40%) |
?? |
58,640 |
80,680 |
||
|
Cash And Cash Equivalents |
7,282 |
57,600 |
37,500 |
||
|
Sales |
6,034,000 |
3,432,000 |
3,300,000 |
||
|
Accounts Payable |
524,160 |
145,600 |
166,000 |
||
|
Notes Payable |
636,808 |
200,000 |
200,000 |
||
|
Accrued Liabilities |
489,600 |
136,000 |
122,000 |
||
|
Depreciation Expense |
116,960 |
18,900 |
19,800 |
||
|
Long Term Debt |
723,432 |
323,432 |
323,432 |
||
|
Inventory |
1,287,360 |
715,200 |
675,000 |
||
|
Dividends |
11,000 |
22,000 |
22,000 |
||
|
Retained Earnings |
32,592 |
203,768 |
104,748 |
||
|
Other Information |
|||||
|
The firm had sufficient taxable income in 2016 and 2015 to obtain a full refund in 2017 |
|||||
|
Net Income for 2016 |
$87,960 |
||||
In: Accounting
ACCT – MNGT 257 Financial Management Fall 2018
Tandy Company Case Study #1 review of Financial Statements
From the information below prepare, in proper accounting form the,
Income Statement, Balance Sheet, and Statement of Changes in
Owners’ Equity, and Statement of Cash Flows for 2016 and 2017.
In your Income Statement Calculation, include Subtotals for EBITDA, EBIT, and EBT in addition to Net Income. You must submit your answers in either a MS Word or an MS Excel file.
|
TANDY COMPANY |
Year Ending |
||||
|
6/30/2017 |
6/30/2016 |
6/30/2015 |
|||
|
Common Stock 100,000 shares outstanding |
$460,000 |
$460,000 |
$460,000 |
||
|
Net Receivables |
632,160 |
351,200 |
315,000 |
||
|
Cost of Goods Sold |
5,528,000 |
2,864,000 |
2,706,000 |
||
|
Expenses |
519,988 |
358,672 |
330,000 |
||
|
Interest Expense |
136,012 |
43,828 |
42,500 |
||
|
Property Plant and Equipment |
1,202,950 |
491,000 |
476,000 |
||
|
Less Accumulated Depreciation |
263,160 |
146,200 |
127,300 |
||
|
Income Taxes (40%) |
?? |
58,640 |
80,680 |
||
|
Cash And Cash Equivalents |
7,282 |
57,600 |
37,500 |
||
|
Sales |
6,034,000 |
3,432,000 |
3,300,000 |
||
|
Accounts Payable |
524,160 |
145,600 |
166,000 |
||
|
Notes Payable |
636,808 |
200,000 |
200,000 |
||
|
Accrued Liabilities |
489,600 |
136,000 |
122,000 |
||
|
Depreciation Expense |
116,960 |
18,900 |
19,800 |
||
|
Long Term Debt |
723,432 |
323,432 |
323,432 |
||
|
Inventory |
1,287,360 |
715,200 |
675,000 |
||
|
Dividends |
11,000 |
22,000 |
22,000 |
||
|
Retained Earnings |
32,592 |
203,768 |
104,748 |
||
|
Other Information |
|||||
|
The firm had sufficient taxable income in 2016 and 2015 to obtain a full refund in 2017 |
|||||
|
Net Income for 2016 |
$87,960 |
||||
|
TANDY COMPANY |
Year Ending |
||||
|
6/30/2017 |
6/30/2016 |
6/30/2015 |
|||
|
Common Stock 100,000 shares outstanding |
$460,000 |
$460,000 |
$460,000 |
||
|
Net Receivables |
632,160 |
351,200 |
315,000 |
||
|
Cost of Goods Sold |
5,528,000 |
2,864,000 |
2,706,000 |
||
|
Expenses |
519,988 |
358,672 |
330,000 |
||
|
Interest Expense |
136,012 |
43,828 |
42,500 |
||
|
Property Plant and Equipment |
1,202,950 |
491,000 |
476,000 |
||
|
Less Accumulated Depreciation |
263,160 |
146,200 |
127,300 |
||
|
Income Taxes (40%) |
?? |
58,640 |
80,680 |
||
|
Cash And Cash Equivalents |
7,282 |
57,600 |
37,500 |
||
|
Sales |
6,034,000 |
3,432,000 |
3,300,000 |
||
|
Accounts Payable |
524,160 |
145,600 |
166,000 |
||
|
Notes Payable |
636,808 |
200,000 |
200,000 |
||
|
Accrued Liabilities |
489,600 |
136,000 |
122,000 |
||
|
Depreciation Expense |
116,960 |
18,900 |
19,800 |
||
|
Long Term Debt |
723,432 |
323,432 |
323,432 |
||
|
Inventory |
1,287,360 |
715,200 |
675,000 |
||
|
Dividends |
11,000 |
22,000 |
22,000 |
||
|
Retained Earnings |
32,592 |
203,768 |
104,748 |
||
|
Other Information |
|||||
|
The firm had sufficient taxable income in 2016 and 2015 to obtain a full refund in 2017 |
|||||
|
Net Income for 2016 |
$87,960 |
||||
In: Accounting
Using the data for Brady and Co. below please provide:
Balance Sheet - comparative, classified in proper format for fiscal years 2015 and 2016
Income Statement - multiple-step for fiscal years 2015 and 2016. Include earnings per share data.
Statement of Retained Earnings for 2016.
| 2015 | 2016 | ||||
| Dr | Cr | Dr | Cr | ||
| Accounts Payable | 999,210 | 1,079,837 | |||
| Accounts Receivable | 2,943,125 | 3,245,967 | |||
| Accrued Liabilities - Other | 508,643 | 721,358 | |||
| Accrued Pension Liabilities | 650,216 | 450,356 | |||
| Accrued Restructuring Charges | 126,000 | 90,476 | |||
| Accrued Salaries, Wages and Commissions | 281,364 | 350,191 | |||
| Accumulated Other Comprehensive Income (Loss) | 621,236 | 85,000 | |||
| Accumulated Depreciation - Property, Plant & Equipment | 1,829,634 | 1,999,999 | |||
| Accumulated Post-Employment Benefit Obligation (long-term) | 802,316 | 402,634 | |||
| Additional Paid-in Capital, Common Stock | 299,304 | 299,304 | |||
| Additional Paid-in Capital, Preferred Stock | 75 | 75 | |||
| Allowance for Doubtful Accounts | 125,436 | 124,645 | |||
| Bonds Payable | 244,563 | 249,046 | |||
| Cash and Cash Equivalents | 401,236 | 751,329 | |||
| Common Stock ($1.00 par value) authorized 900 million shares issued 300 million shares in 2016, 284 million in 2015 | 300,000 | 284,000 | |||
| Cost of Goods Sold | 3,000,235 | 2,763,584 | |||
| Current Portion of Long-term Debt | 720,125 | 849,869 | |||
| Deferred Tax Assets (current) | 62,596 | 81,236 | |||
| Deferred Tax Liabilities (long-term) | 229,000 | 440,263 | |||
| Depreciation Expense | 307,200 | 311,236 | |||
| Dividends - Common | 292,351 | 214,956 | |||
| Dividends - Preferred | 2,000 | 945 | |||
| General & Administrative Expenses | 1,732,429 | 1,459,695 | |||
| Goodwill and Other Intangibles | 3,212,491 | 3,212,491 | |||
| Income Taxes Payable | 246,002 | 102,563 | |||
| Interest Expense | 201,366 | 250,000 | |||
| Interest Income | 10,126 | 18,227 | |||
| Investments in unconsolidated affiliated companies | 1,235,000 | 1,456,896 | |||
| Inventories | 163,214 | 224,561 | |||
| Long-term Debt | 3,223,713 | 3,702,700 | |||
| (Loss) Income from Discontinued Operations, net of tax | 28,100 | 7,453 | |||
| Preferred Stock ($10 par value) authorized 10 million shares issued 90,000 shares in 2016, 90,000 in 2015 | 900 | 900 | |||
| Prepaid Expenses | 141,029 | 170,296 | |||
| Property, Plant and Equipment | 2,943,216 | 3,936,726 | |||
| Provision for income taxes | 245,105 | 201,636 | |||
| Research and Development Expenses | 199,500 | 496,597 | |||
| Restructuring Charges | 199,506 | 255,013 | |||
| Retained Earnings, beginning | 2,960,256 | 5,173,286 | |||
| Sales | 8,430,061 | 6,526,967 | |||
| Selling Expenses | 19,365 | 58,890 | |||
| Short-term Investments | 20,000 | 26,800 | |||
| Treasury Stock, at cost - 117,156,719 shares in 2016 and 108,822,953 shares in 2015 | 4,472,969 | 4,263,984 | |||
| Unearned Revenues | 456,325 | 423,689 | |||
| 22,443,269 | 22,443,269 | 23,382,838 | 23,382,838 | ||
In: Accounting
SouthernSouthern
Fried Chicken bought equipment on
January
22?,2016?,
for
$ 42,000.
The equipment was expected to remain in service for four years and to perform
9,000
fry jobs. At the end of the? equipment's useful? life,
SouthernSouthern
estimates that its residual value will be
$6,000.
The equipment performed
900
jobs the first?year,
2,700
the second? year,
3,600
the third? year, and
1,800
the fourth year.
Requirements
|
1. |
Prepare a schedule of depreciation? expense, accumulated? depreciation, and book value per year for the equipment under the three depreciation methods. Show your computations. ?Note: Three depreciation schedules must be prepared. |
|
2. |
Which method tracks the wear and tear on the equipment most? closely? |
Requirement 1. Prepare a schedule of depreciation? expense, accumulated? depreciation, and book value per year for the equipment under the three depreciation methods. Show your computations. ?Note: Three depreciation schedules must be prepared.
Begin by preparing a depreciation schedule using the? straight-line method.
|
Straight-Line Depreciation Schedule |
||||||||
|
Depreciation for the Year |
||||||||
|
Asset |
Depreciable |
Depreciation |
Depreciation |
Accumulated |
Book |
|||
|
Date |
Cost |
Cost |
Rate |
Expense |
Depreciation |
Value |
||
|
1-2-2016 |
||||||||
|
12-31-2016 |
/ |
= |
||||||
|
12-31-2017 |
/ |
= |
||||||
|
12-31-2018 |
/ |
= |
||||||
|
12-31-2019 |
/ |
= |
||||||
Before completing the? units-of-production depreciation? schedule, calculate the depreciation expense per unit.
|
( |
- |
) / |
= |
Depreciation per unit |
|||
|
( |
- |
) / |
= |
Prepare a depreciation schedule using the? units-of-production method.
|
Units-of-Production Depreciation Schedule |
||||||||
|
Depreciation for the Year |
||||||||
|
Asset |
Depreciation |
Number of |
Depreciation |
Accumulated |
Book |
|||
|
Date |
Cost |
Per Unit |
Units |
Expense |
Depreciation |
Value |
||
|
1-2-2016 |
||||||||
|
12-31-2016 |
x |
= |
||||||
|
12-31-2017 |
x |
= |
||||||
|
12-31-2018 |
x |
= |
||||||
|
12-31-2019 |
x |
= |
||||||
Prepare a depreciation schedule using the? double-declining-balance (DDB) method. ?(Enter a? "0" for any items with a zero? value.)
|
Double-Declining-Balance Depreciation Schedule |
||||||||
|
Depreciation for the Year |
||||||||
|
Asset |
Book |
DDB |
Depreciation |
Accumulated |
Book |
|||
|
Date |
Cost |
Value |
Rate |
Expense |
Depreciation |
Value |
||
|
1-2-2016 |
||||||||
|
12-31-2016 |
x |
= |
||||||
|
12-31-2017 |
x |
= |
||||||
|
12-31-2018 |
= |
|||||||
|
12-31-2019 |
= |
|||||||
Requirement 2. Which method tracks the wear and tear on the equipment most? closely?
The
?
method tracks wear and tear most closely.
Choose from any list or enter any number in the input fields and then continue to the next question.
In: Accounting
The following are Sheridan Corp.’s comparative balance sheet accounts at December 31, 2017 and 2016, with a column showing the increase (decrease) from 2016 to 2017.
|
COMPARATIVE BALANCE SHEETS |
|||||||||
|
2017 |
2016 |
Increase |
|||||||
| Cash |
$814,600 |
$706,000 |
$108,600 |
||||||
| Accounts receivable |
1,129,100 |
1,176,600 |
(47,500 |
) |
|||||
| Inventory |
1,861,900 |
1,719,500 |
142,400 |
||||||
| Property, plant, and equipment |
3,335,800 |
2,940,300 |
395,500 |
||||||
| Accumulated depreciation |
(1,159,600 |
) |
(1,046,100 |
) |
(113,500 |
) |
|||
| Investment in Myers Co. |
313,100 |
277,300 |
35,800 |
||||||
| Loan receivable |
249,200 |
— |
249,200 |
||||||
| Total assets |
$6,544,100 |
$5,773,600 |
$770,500 |
||||||
| Accounts payable |
$1,013,700 |
$946,000 |
$67,700 |
||||||
| Income taxes payable |
29,900 |
50,000 |
(20,100 |
) |
|||||
| Dividends payable |
80,200 |
99,800 |
(19,600 |
) |
|||||
| Lease liabililty |
455,900 |
— |
455,900 |
||||||
| Common stock, $1 par |
500,000 |
500,000 |
— |
||||||
| Paid-in capital in excess of par—common stock |
1,502,100 |
1,502,100 |
— |
||||||
| Retained earnings |
2,962,300 |
2,675,700 |
286,600 |
||||||
| Total liabilities and stockholders’ equity |
$6,544,100 |
$5,773,600 |
$770,500 |
||||||
Additional information:
| 1. | On December 31, 2016, Sheridan acquired 25% of Myers Co.’s common stock for $277,300. On that date, the carrying value of Myers’s assets and liabilities, which approximated their fair values, was $1,109,200. Myers reported income of $143,200 for the year ended December 31, 2017. No dividend was paid on Myers’s common stock during the year. | |
| 2. | During 2017, Sheridan loaned $355,300 to TLC Co., an unrelated company. TLC made the first semiannual principal repayment of $106,100, plus interest at 10%, on December 31, 2017. | |
| 3. | On January 2, 2017, Sheridan sold equipment costing $60,400, with a carrying amount of $38,000, for $40,200 cash. | |
| 4. | On December 31, 2017, Sheridan entered into a capital lease for an office building. The present value of the annual rental payments is $455,900, which equals the fair value of the building. Sheridan made the first rental payment of $60,200 when due on January 2, 2018. | |
| 5. | Net income for 2017 was $366,800. | |
| 6. | Sheridan declared and paid the following cash dividends for 2017 and 2016. |
|
2017 |
2016 |
|||
| Declared | December 15, 2017 | December 15, 2016 | ||
| Paid | February 28, 2018 | February 28, 2017 | ||
| Amount | $80,200 | $99,800 |
Prepare a statement of cash flows for Sheridan Corp. for
the year ended December 31, 2017, using the indirect
method. (Show amounts that decrease cash flow
with either a - sign e.g. -15,000 or in parenthesis e.g.
(15,000).)
In: Accounting
Q#1
Fashion Company reported the following:
Common stock, $3 par, 10,000 shares authorized, 5,000 shares issued
and outstanding
What is the effect of a 10% stock dividend if the market price of
the common stock is $30 per share when the dividend is
declared?
a. Retained earnings in the amount of $15,000 is transferred to
the contributed capital accounts.
b. Cash decreases $30,000.
c. Additional Paid-in Capital decreases $30,000.
d. A stock dividend has no effect on any stockholders' equity
accounts.
Q#2
Below is information for Toronto Imports Corp. for 2015 and 2016:
Bonds payable, December 31, 2015 $500,000
Bonds payable, December 31, 2016 800,000
Loss on bond retirement--2016 15,000
Interest expense on bonds--2016 45,000
At the end of 2016, Toronto issued bonds at par value for $800,000
cash. The proceeds from these bonds were used to retire
the $500,000 bond issue outstanding at the end of 2015 (before
their maturity date). All interest expense was paid in cash
during 2016.
The following statements describe how Toronto reported the cash
flow effects of the items described above on its 2016
statement of cash flows. The indirect method is used to prepare the
operating activities section. Which of the following has
been reported incorrectly by Toronto?
a. Payments of $560,000 were reported as a cash outflow in the
investing activities section.
b. Proceeds of $800,000 from the issuance of bonds were reported as
a cash inflow in the financing activities section.
c. The loss on bond retirement of $15,000 was added to net income
in the operating activities section.
d. Interest expense of $45,000 was not reported separately because
it is included in net income in the operating activities
section.
Q#3
When using the indirect method, how is the decrease in accounts payable shown on the statement of cash flows?
a. Financing activity
b. Noncash investing and financing activity
c. Investing activity
d. Operating activity
Q#4
When using the indirect method, how is the issuance of stock to retire a long-term debt shown on a statement of cash flows?
a. Investing activity
b. Operating activity
c. Noncash investing or financing activity
d. Financing activity
Q#5
Which of the following operating activities results in a cash outflow?
a. Collecting accounts receivable
b. Making cash sales
c. Paying creditors for merchandise
d. Receiving deposits recorded as unearned revenue
In: Finance