Change in Accounting Principle - Retroactive Approach
In 2017, The UC Construction Company changed from the completed-contract method to the percentage-of-completion method of accounting for long-term construction contracts. The company continued to use the completed-contract method for tax purposes. The tax rate is 30 percent. The comparative income statements issued previously (using the completed-contract method) showed the following:
|
2017 |
2016 |
2015 |
2014 |
|
|
Construction revenue |
$520,000 |
$480,000 |
$460,000 |
$350,000 |
|
Construction expenses |
410,000 |
390,000 |
300,000 |
200,000 |
|
Income before taxes |
110,000 |
90,000 |
160,000 |
150,000 |
|
Income tax expense |
33,000 |
27,000 |
48,000 |
45,000 |
|
Net income |
$77,000 |
$63,000 |
$112,000 |
$105,000 |
The comparative statements of retained earnings issued for the same years were:
|
2017 |
2016 |
2015 |
2014 |
|
|
Retained earnings, beg. |
$1,040,000 |
$1,007,000 |
$955,000 |
$900,000 |
|
Net income |
77,000 |
63,000 |
112,000 |
105,000 |
|
Dividends |
(35,000) |
(30,000) |
(60,000) |
(50,000) |
|
Retained earnings, end |
$1,082,000 |
$1,040,000 |
$1,007,000 |
$955,0000 |
For years before 2014, pretax income using the completed-contract method was $350,000. Pretax income computed for the percentage-of-completion and completed-contract methods are as follows:
|
Percentage |
||||
|
Of |
Completed |
Cumulative |
||
|
Completion |
Contract |
Difference |
Difference |
|
|
Before 2014 |
$500,000 |
$350,000 |
$150,000 |
$150,000 |
|
2014 |
200,000 |
150,000 |
50,000 |
200,000 |
|
2015 |
150,000 |
160,000 |
(10,000) |
190,000 |
|
2016 |
100,000 |
90,000 |
10,000 |
200,000 |
|
2017 |
110,000 |
100,000 |
10,000 |
210,000 |
Prepare comparative statements of retained earnings for the four years, assuming UC Construction changed its method of construction accounting from the completed-contract method to the percentage-of-completion method in 2017.
In: Accounting
Select a current, professional journal article that is at least three pages in length. You must write a critical assessment of this article for this assignment.
In preparation, follow the guidelines established below:
Find an article (that is less than five years old) that pertains to the important issues leaders or consultants will face when working with various types of teams, and discuss what methods are best to use for developing better teams for the future. Be sure to annotate the author's main points and thesis statement in your own words.
The critique should be approximately three pages in length (not counting the title and reference pages).
Part I: Introduction
Start the critique with the following information: the author's
name, the article title, and the author's thesis statement.
Part II: Summary
Summarize the author's purpose and main points, providing examples
for clarity of understanding the author's intended implications.
Share key topics that support the author's focus for this article.
Provide ample details to enlighten the reader as to what the
article is implying for audiences who are seeking research data
about team building and/or the different types of teams (e.g.,
virtual, temporary, traditional, or innovative).
Part III: Review and Evaluate
To critically review the article, ask the following questions:
Part IV: Conclusion
State whether you agree with the author or not. Back up your
decisions by stating your reasons. Give a general opinion of the
work. Explain what you learned from reading the article and if you
would recommend it to a friend/coworker.
Part V: Application
Predict some of the major challenges that teams will face in the
future, and explain why the need for teamwork will remain high as
it relates to the article. Identify a team-building activity that
may be useful for managing teams in the future, and explain
why.
Format your paper using APA style.
In: Operations Management
For this assignment, you are going to build upon several skills that you've learned:
Set up
Create the assignment in a "week6" folder with the typical files:
This is the standard structure that we'll use in all assignments.
Here is the HTML to use for this assignment. Change the meta author tag to include your name!
<!DOCTYPE html>
<html lang="en">
<head>
<meta charset="utf-8">
<meta name="viewport" content="width=device-width, initial-scale=1.0">
<title>Working with Objects and NodeLists</title>
<meta name="description" content="We want to update an HTML page with information from a data object.">
<meta name="author" content="C SCI 212 Student">
<!-- link to external CSS file -->
<link rel="stylesheet" href="css/styles.css?v=1.0">
</head>
<body>
<!-- Content of the page goes here. -->
<h1>Introduction</h1>
<section class="intro">
<h2>Introduction</h2>
<p></p>
<p></p>
<p></p>
<p></p>
<p></p>
<p></p>
<p></p>
</section>
<section class="student-info">
<h2>Student Information</h2>
<p></p>
<p></p>
<p></p>
<p></p>
<p></p>
<p></p>
<p></p>
</section>
<!-- link to external JS file -->
<script src="js/scripts.js"></script>
</body>
</html>
The Problem
We have a JavaScript object that contains student information.
We want to update the HTML page with information from the JavaScript object.
Instructions
In: Computer Science
Discuss the various options for sampling and cohort formation within epidemiologic cohort studies. As a practicing epidemiologist, how would you go about selecting the best sampling and cohort formation options for a particular study?
In: Statistics and Probability
Job Description Requirements
?Organization Name
Department Name
Job Title
Job Rank/Grade
Supervisor
Job Status (Exempt v. Non Exempt)
Job Summary
Essential Duties
Other Duties
Job Specifications
Working conditions
Author
Date(s) (Initial/Revision)
Job Description Writing:
Review the above information on the attachment which has been collected through a job analysis for a newly approved Coding Manager position.
Part I: Write a formal Job Description for this position. Include all of the appropriate headings and categories as referenced in this week's reading and course Instruction (Health Information Management and Technology An Applied Approach:5th edition by Sayles and Gordon).
Part II: Identify the two most important criteria for selecting an employee to fill this position.
(Criteria are the qualities that would be important for one to be successful in this position)
Write 2 questions that an interviewer could ask to solict information regarding how well the candidate meets each of the criteria you have been identified.
In: Nursing
In: Statistics and Probability
C++ programming
Complete the code to input and store all the information in the structure Book: title, author, year and pages.
Complete the function print() with arguments and code to print a Book variable in the following format:
Book title: <title> Book author: <name> Published in <year> Number of pages: <pages>
#include <iostream>
using namespace std;
struct Book {
string title;
string author;
string year;
int pages;
};
void print(/*arguments*/)
{
//Complete function
}
int main() {
//Declare structure variable
//Get 4 inputs
//Call print function to generate output
}
In: Computer Science
Cruz Company uses LIFO for inventory costing and reports the following financial data. It also recomputed inventory and cost of goods sold using FIFO for comparison purposes. 2017 2016 LIFO inventory $ 190 $ 140 LIFO cost of goods sold 770 710 FIFO inventory 260 165 FIFO cost of goods sold 725 — Current assets (using LIFO) 250 220 Current liabilities 170 150 1. Compute its current ratio, inventory turnover, and days' sales in inventory for 2017 using (a) LIFO numbers and (b) FIFO numbers. (Round your answers to 1 decimal place.)
In: Accounting
Encapsulation
You are tasked with building a BookStore. Your Architect has told you that the BookStore class has the following members : long id; String name; Address address; Book book; The Address class has the following attributes : String streetName; String houseNumber; String apartmentNumber; String zipCode; The book class has the following members String name; String isbn; Author author; The Author class within the book class has the following member : String firstName; String lastName; Date dateOfBirth; Address address; //Address class has already been created You have to create your BookStore class. You have to use encapsulation to make sure all the variables of the bookstore class are protected. For the classes that are within the bookstore class (Address and Book and Author within book) you have to use encapsulation as well for the member variables. Now you need to create another class that will have a main method. Call this class App. Populate your variables with data using the setter methods and then print them out using System.out.println().
Use Java
In: Computer Science
The City of San Francisco has two bridges, Golden Gate Bridge and Bay Bridge. Assume these two bridges are designed to survive during earthquakes with magnitude of less than 7 Richter with the probabilities of 0.95 and 0.98. What is the probability that at least one of these two bridges collapse facing an earthquake with magnitude of over 7 Richter?
In: Statistics and Probability