Clarks & Co. signed a contract on January 15, 2020 to
provide Daisies Cake Factory with an
ingredient-weighing system for a price of $150,000. The system
included finely tuned scales that
fit into Daisies automated line, Clarks proprietary software
modified to allow the weighing
system to function in Dasies automated system, and a two-year
contract to calibrate the
equipment and software on an as-needed basis. If Clark was to
provide these goods or services
separately, it would charge $120,000 for the scales, $20,000 for
the software, and $30,000 for the
calibration contract. Clark Company delivered and installed the
equipment and software on
February 1, 2020, and the calibration service commenced on that
date.
A. Assume that the scales, software and calibration service are all
separate performance
obligations.
1. How much revenue will Clark recognize in 2020 for this
contract?
2. Record in General Journal form the above transactions and
required adjusting
entry at December 31, 2020.
B. Assume that the scales, software and calibration service are
viewed as one performance
obligation. How much revenue will Clark recognize in 2020 for this
contract?
In: Accounting
| The balances of the ledger accounts for a Company on November 30, 2020 are as follows: |
| Account Name | Balance | |
| Cash | $ | 21,000 |
| Accounts Receivable | 10,200 | |
| Supplies | 4,000 | |
| Prepaid Insurance | 10,800 | |
| Equipment | 12,000 | |
| Accumulated Depreciation—Equipment | − | |
| Accounts Payable | 6,800 | |
| Alicia Santiago, Capital | 48,000 | |
| Alicia Santiago, Drawing | 4,600 | |
| Fees Income | 35,000 | |
| Advertising Expense | 4,400 | |
| Rent Expense | 7,200 | |
| Salaries Expense | 13,200 | |
| Supplies Expense | − | |
| Insurance Expense | − | |
| Utilities Expense | 2,400 | |
| Depreciation Expense—Equipment | − | |
| Adjustment information: | |
| (a) |
The supplies were purchased on November 1, 2020. An inventory of supplies showed $2,800 on hand on November 30, 2020. |
| (b) |
The amount of Prepaid Insurance represents a payment made November 1, 2020, for a six-month insurance policy. |
| (c) |
The equipment, purchased November 1, 2020, has an estimated useful life of 5 years with no salvage value. The firm uses the straight-line method of depreciation. |
|
Prepare the Trial Balance section, record the adjustments, and complete the worksheet. |
In: Accounting
What is the 95 percent confidence intervals for the average daily inventory holding cost Pre- and Post- COVID-19 (X_1&〖 X〗_2 )? And what do you conclude by comparing these intervals? Also what is the 99 percent confidence interval for the average daily inventory holding cost Post- COVID-19 (X_2 )? And what do you conclude by comparing the 95 and 99 percent confidence intervals for the average daily inventory holding cost Post- COVID-19 (X_2 )?
| Date | 1/Nov/2019 | 2/Nov/2019 | 3/Nov/2019 | 4/Nov/2019 | 5/Nov/2019 | |
| Pre-COVID-19 | Y1 | 4614.6 | 4615.0 | 4614.6 | 4614.9 | 4616.1 |
| X1 | 8.4 | 8.1 | 9.2 | 8.4 | 6.1 | |
| Date | 1/Apr/2020 | 2/Apr/2020 | 3/Apr/2020 | 4/Apr/2020 | 5/Apr/2020 | |
| Post-COVID-19 | Y2 | 2938.2 | 2942.9 | 2937.9 | 2941.2 | 2934.4 |
| X2 | 11.7 | 8.0 | 10.2 | 9.3 | 11.3 | |
In: Statistics and Probability
4. On January 1, 2019, Roberts Inc. purchased 10% of the outstanding 1,000,000 common shares of Sunk for $200,000. Roberts Inc. considers this investment to be a non-strategic investment. At the
December 31, 2020-year end, the fair value of this investment was $208,000. Sunk's profit in 2020 was $100,000. Sunk paid a dividend of $.60 per common share. On January 1, 2021, Robert decided to buy an additional 25% of Sunk's 1,000,000 common shares for $500,000. This second purchase allowed Robert to significantly influence Sunk. In 2021, Sunk's profit was $140,000. Sunk paid dividends of $.50 per common share in 2021.
For 2020, the investment is considered to be a fair value through profit and loss investment:
Required:
For 2020, the investment is considered to be a fair value through profit and loss inv.
In: Accounting
On December 18, 2020, Stephanie Corporation acquired 100 percent of a Swiss company for 4.023 million Swiss francs (CHF), which is indicative of book and fair value. At the acquisition date, the exchange rate was $1.00 = CHF 1. On December 18, 2020, the book and fair values of the subsidiary’s assets and liabilities were as follows:
| Cash | CHF | 823,000 | |
| Inventory | 1,323,000 | ||
| Property, plant, and equipment | 4,023,000 | ||
| Notes payable | (2,146,000 | ) | |
Stephanie prepares consolidated financial statements on December 31, 2020. By that date, the Swiss franc has appreciated to $1.10 = CHF 1. Because of the year-end holidays, no transactions took place prior to consolidation.
Determine the translation adjustment to be reported on Stephanie’s December 31, 2020, consolidated balance sheet, assuming that the Swiss franc is the Swiss subsidiary’s functional currency. What is the economic relevance of this translation adjustment?
Determine the remeasurement gain or loss to be reported in Stephanie’s 2020 consolidated net income, assuming that the U.S. dollar is the functional currency. What is the economic relevance of this remeasurement gain or loss?
In: Accounting
On June 30, 2020, Buffalo Company issued $4,860,000 face value of 14%, 20-year bonds at $5,591,240, a yield of 12%. Buffalo uses the effective-interest method to amortize bond premium or discount. The bonds pay semiannual interest on June 30 and December 31.
(a) Prepare the journal entries to record the following transactions. (Round answer to 0 decimal places, e.g. 38,548. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually.) (1) The issuance of the bonds on June 30, 2020. (2) The payment of interest and the amortization of the premium on December 31, 2020. (3) The payment of interest and the amortization of the premium on June 30, 2021. (4) The payment of interest and the amortization of the premium on December 31, 2021. No. Date Account Titles and Explanation Debit Credit (1) June 30, 2020 (2) December 31, 2020 (3) June 30, 2021 (4) December 31, 2021
In: Accounting
During 2020, Sandhill Furniture Company purchases a carload of
wicker chairs. The manufacturer sells the chairs to Sandhill for a
lump sum of $119,700 because it is discontinuing manufacturing
operations and wishes to dispose of its entire stock. Three types
of chairs are included in the carload. The three types and the
estimated selling price for each are listed below.
|
Type |
No. of Chairs |
Estimated Selling |
|||
|---|---|---|---|---|---|
|
Lounge chairs |
720 | $90 | |||
|
Armchairs |
540 | 80 | |||
|
Straight chairs |
1,260 | 50 | |||
During 2020, Sandhill sells 400 lounge chairs, 200 armchairs, and
240 straight chairs.
What is the amount of gross profit realized during 2020? What is
the amount of inventory of unsold straight chairs on December 31,
2020? (Round cost per chair to 2 decimal places, e.g.
78.25 and final answer to 0 decimal places, e.g.
5,845.)
|
Gross profit realized during 2020 |
$enter a dollar amount |
|
|---|---|---|
|
Amount of inventory of unsold straight chairs |
$enter a dollar amount |
In: Accounting
During 2020, Skysong Furniture Company purchases a carload of
wicker chairs. The manufacturer sells the chairs to Skysong for a
lump sum of $77,805 because it is discontinuing manufacturing
operations and wishes to dispose of its entire stock. Three types
of chairs are included in the carload. The three types and the
estimated selling price for each are listed below.
|
Type |
No. of Chairs |
Estimated Selling |
|||
|---|---|---|---|---|---|
|
Lounge chairs |
520 | $90 | |||
|
Armchairs |
390 | 80 | |||
|
Straight chairs |
910 | 50 | |||
During 2020, Skysong sells 260 lounge chairs, 130 armchairs, and
156 straight chairs.
What is the amount of gross profit realized during 2020? What is
the amount of inventory of unsold straight chairs on December 31,
2020? (Round cost per chair to 2 decimal places, e.g.
78.25 and final answer to 0 decimal places, e.g.
5,845.)
|
Gross profit realized during 2020 |
$enter a dollar amount |
|
|---|---|---|
|
Amount of inventory of unsold straight chairs |
$enter a dollar amount |
In: Accounting
Machinery purchased for $41,200 by Swifty Corp. on January 1, 2015, was originally estimated to have an 8-year useful life with a residual value of $6,000. Depreciation has been entered for five years on this basis. In 2020, it is determined that the total estimated useful life (including 2020) should have been 10 years, with a residual value of $7,000 at the end of that time. Assume straight-line depreciation and that Swifty Corp. uses IFRS for financial statement purposes.
Prepare the entry that is required to correct the prior years’ depreciation, if any
Prepare the entry to record depreciation for 2020.
Repeat part (b) assuming Swifty Corp. uses ASPE and the machinery is originally estimated to have a physical life of 8.5 years and a salvage value of $0. In 2020, it is determined that the total estimated physical life (including 2020) should have been 11 years, with a salvage value of $400 at the end of that time.
Repeat part (b) assuming Swifty Corp. uses the double-declining-balance method of depreciation.
In: Accounting
Article: The effect of unit-based simulation on nurse’s identification of deteriorating patient.
In today’s nursing practice environment, nurses are faced with patients with multiple, complex conditions that can change rapidly leading to an acute patient deterioration (APD) event (Bright, Walker, & Bion, 2004). Patients often exhibit early warning signs before APD events (Fuhrmann, Lippert, Perner, & Ostergard, 2008; Kause et al., 2004), but research supports that early warning signs are not always identified by healthcare providers and/or, if identified, are not addressed in an appropriate time frame. Multiple factors have been cited as reasons for failure to recognize and respond appropriately to APD events including lack of knowledge and skills, lack of confidence to handle APD events, not monitoring vital signs (VS) routinely, failure to seek assistance, communication failures, and confusion regarding role responsibilities (National Patient Safety Agency, 2007).
As the acuity of patients increases, it becomes imperative that registered nurses (RNs) perform frequent assessments and intervene appropriately when patients’ conditions be- gan to deteriorate (Cooper et al., 2010). These interventions include providing appropriate care to stop the deterioration such as consultation with advanced practice nurses and/or physicians, ensuring/evaluating that the health plan is being implemented, and/or determining if transfer to critical care areas for higher level nursing care is required. The use of simulation as a teaching method assists nurses to improve their assessment skills and response to patient decline in a timely and knowledgeable manner (Cooper et al., 2010). The purpose of this pilot research study was to examine the effects of a unit-based, high-fidelity simulation initiative on cardiovascular step-down unit RNs’ identification and management of deteriorating patients.
*In this assignment you will choose a study from the folder of selected studies and upload a Quantitative experimental or quasi-experimental designed research study.
*Review Experimental and Quasi-experimental studies of your textbook for definitions and specific types of experimental and quasi-experimental studies.
Directions:
From the article identify the following using 1 or 2 simple sentences
1. The study "Method" or "Design":
2. Problem Statement:
3. Purpose Statement:
4. Independent Variable and the Dependent Variable:
5. The intervention:
6. The hypothesis or research question:
In: Nursing