Problem 4. A high-voltage power supply should have a nominal output voltage of 350 V. A sample of four units is selected each day and tested for process-control purposes. The data (see sheet Problem4 in Homework 4.xlsx) give the difference between the observed reading on each unit and the nominal voltage times ten; that is, ?? = (observed voltage on unit ? - 350)*10 (a) Set up ?̅ and ? charts on this process. Is the process in statistical control? (2 points) (b) If specifications are at 350 V ±5 V, estimate ? and ? , ? and ? ? (2 points) ? ??? ?? (c) What can you say about process capability ??? (2 points)
| Sample | x1 | x2 | x3 | x4 | Xbar | R |
| 1 | 6 | 9 | 10 | 15 | 10 | 9 |
| 2 | 10 | 4 | 6 | 11 | 7.75 | 5 |
| 3 | 7 | 8 | 10 | 5 | 7.5 | 5 |
| 4 | 8 | 9 | 6 | 13 | 9 | 7 |
| 5 | 9 | 10 | 7 | 13 | 9.75 | 6 |
| 6 | 12 | 11 | 10 | 10 | 10.75 | 2 |
| 7 | 16 | 10 | 8 | 9 | 10.75 | 7 |
| 8 | 7 | 5 | 10 | 4 | 6.5 | 6 |
| 9 | 9 | 7 | 8 | 12 | 9 | 4 |
| 10 | 15 | 16 | 10 | 13 | 13.5 | 6 |
| 11 | 8 | 12 | 14 | 16 | 12.5 | 8 |
| 12 | 6 | 13 | 9 | 11 | 9.75 | 7 |
| 13 | 16 | 9 | 13 | 15 | 13.25 | 7 |
| 14 | 7 | 13 | 10 | 12 | 10.5 | 6 |
| 15 | 11 | 7 | 10 | 16 | 11 | 9 |
| 16 | 15 | 10 | 11 | 14 | 12.5 | 5 |
| 17 | 9 | 8 | 12 | 10 | 9.75 | 3 |
| 18 | 15 | 7 | 10 | 11 | 10.75 | 8 |
| 19 | 8 | 6 | 9 | 12 | 8.75 | 6 |
| 20 | 13 | 14 | 11 | 15 | 13.25 | 4 |
In: Statistics and Probability
Company ABC divides its inventory into three different groups. Group 1 has 350 units and the price per unit is $12. Group 2 has 200 units and the price per unit is $20. Group 3 has 900 units and the price per unit is $2.5. The purchase price for all units was $9,000. Determine the cost per unit for each group. Use the relative sales value method.
In: Accounting
arvard Prep Shops, a national clothing chain, had sales of $350 million last year. The business has a steady net profit margin of 20 percent and a dividend payout ratio of 30 percent. The balance sheet for the end of last year is shown below:
| Balance Sheet December 31, 20XX ($ millions) |
|||||
| Assets | Liabilities and Shareholders' Equity | ||||
| Cash | $4 | Accounts payable | $45 | ||
| Account receivable | 12 | Accrued expenses | 11 | ||
| Inventory | 60 | Other payables | 28 | ||
| Common stock | 70 | ||||
| Plant and equipment | 190 | Retained earnings | 112 | ||
| Total assets | $266 | Total liabilities and equity | $266 | ||
Harvard’s anticipates a large increase in the demand for tweed sport coats and deck shoes. A sales increase of 30 percent is forecast.
All balance sheet items are expected to maintain the same percent-of-sales relationships as last year, except for common stock and retained earnings. No change in the number of common shares outstanding is scheduled, and retained earnings will change as dictated by the profits and dividend policy of the firm.
a. Will external financing be required for the Prep Shop during the coming year?
Yes
No
b. What would the need for external financing be if the net profit margin went up to 25 percent and the dividend payout ratio was increased to 65 percent? (Enter the answer in millions. Round the final answer to 2 decimal places.)
Required new funds $ million
In: Finance
In: Nursing
Write a 350- to 700-word analysis assessing how 1 of the following major economic events influenced supply, demand, and economic equilibrium in the US economic activity:
In: Economics
In: Chemistry
Emerald Ltd, a manufacturing company, commenced operations on 1 July 2016 by issuing 350 000 $5.00 shares, payable in full on application on a first-come, first-served basis. By 31 July 2016 the shares were fully subscribed and duly allotted. There were share issue costs of $10 000. No additional shares were issued during the year ending 30 June 2017.
For the year ending 30 June 2018, the company recorded the following aggregate transactions:
|
$ |
|
|
Sales |
5 120 000 |
|
Interest income |
34 000 |
|
Sundry income |
25 000 |
|
Cost of Sales |
2 465 000 |
|
Employee benefit expenses |
856 000 |
|
Depreciation expense |
244 000 |
|
Amortisation - franchise |
25 000 |
|
Rental expense |
120 000 |
|
Advertising expense |
147 000 |
|
Insurance expense |
48 000 |
|
Freight out expense |
110 000 |
|
Doubtful debts expense |
16 000 |
|
Interest expense |
36 000 |
|
Borrowing Costs |
9 000 |
|
Other expenses |
8 000 |
|
Income tax expense |
320 000 |
The following additional information was noted during the preparation of financial statements for the year ended 30 June 2018:
75 000 fully paid ordinary shares have been issued on 1 October 2017 at the price of $4.00.
$135 000 dividends (31.76 cents per share) were declared and paid during the 2018 financial year. A final dividend for 2018 of $51 850 was proposed but not recognised in the financial statements.
There was a gain of $20 000 from the cash flow hedge arrangement during the 2018 financial year. Any gain or loss associated with the cash flow hedge is directly recognised in equity. There was no previously recognised cash flow hedge reserve before the 2018 financial year.
$25 000 of bank loans is repayable within 1 year.
$90 000 of other loans is repayable within 1 year.
The employee benefits of $32 000 are expected to be settled wholly within 12 months.
Emerald Ltd measures inventory at the lower of cost and net realizable value and property, plant and equipment using a cost model.
The summarised balances are provided below:
|
Year-end balances, 30 June 2018 |
$ |
|
Cash on hand |
960 000 |
|
Cash on deposit, at call |
82 000 |
|
Accounts Receivables |
665 000 |
|
Allowance for doubtful debts/ Impairments |
24 000 |
|
Other debtors |
27 000 |
|
Finished goods inventories, 30 June 2018 |
600 000 |
|
Work in Progress inventories 30 June 2018 |
105 000 |
|
Land |
94 000 |
|
Buildings |
230 000 |
|
Accumulated depreciation – buildings |
60 000 |
|
Plant and equipment |
1 385 000 |
|
Accumulated depreciation – plant and equipment |
330 000 |
|
Franchises |
140 000 |
|
Accumulated amortisation of franchise |
50 000 |
|
Goodwill |
620 000 |
|
Bank loans |
92 000 |
|
Other loans |
440 000 |
|
Accounts payable |
696 000 |
|
Provision for employee benefits |
116 000 |
|
Income tax payable |
35 000 |
|
Deferred tax liability |
140 000 |
|
Retained earnings, 30 June 2017 |
225 000 |
|
Dividends paid |
135 000 |
|
Cash flow hedge reserve (equity) |
20 000 |
Required:
For the year ending 30 June, 2018,
Using the pro forma table supplied in appendix B, prepare a preliminary trial balance for Emerald Ltd; (5 Marks)
APPENDIX B
|
Emerald Ltd - Trial Balance as at 30 June 2018 |
DR |
CR |
|
Sales |
$’000 |
$’000 |
|
Interest income |
||
|
Sundry income |
||
|
Cost of sales |
||
|
Employee benefit expenses |
||
|
Depreciation expense |
||
|
Amortisation - franchise |
||
|
Rental expense |
||
|
Advertising expense (selling) |
||
|
Insurance expense |
||
|
Freight out expense |
||
|
Doubtful debts expense |
||
|
Interest expense |
||
|
Borrowing costs |
||
|
Other expenses |
||
|
Income tax expense |
||
|
Cash on hand |
||
|
Cash on deposit, at call |
||
|
Accounts Receivables |
||
|
Allowance for doubtful debts/ Impairments |
||
|
Other debtors |
||
|
Finished goods inventories, 30 June 2018 |
||
|
Work in Progress inventories 30 June 2018 |
||
|
Land |
||
|
Buildings |
||
|
Accumulated depreciation – buildings |
||
|
Plant and equipment |
||
|
Accumulated depreciation – plant and equipment |
||
|
Franchise |
||
|
Accumulated amortisation of franchise |
||
|
Goodwill |
||
|
Bank loans |
||
|
Other loans |
||
|
Accounts payable |
||
|
Provision for employee benefits |
||
|
Income tax payable |
||
|
Deferred tax liability |
||
|
Retained earnings, 30 June 2017 |
||
|
Dividends paid |
||
|
Cash flow hedge reserve |
||
|
Share capital |
||
|
Totals |
In: Accounting
Emerald Ltd, a manufacturing company, commenced operations on 1 July 2016 by issuing 350 000 $5.00 shares, payable in full on application on a first-come, first-served basis. By 31 July 2016 the shares were fully subscribed and duly allotted. There were share issue costs of $10 000. No additional shares were issued during the year ending 30 June 2017.
For the year ending 30 June 2018, the company recorded the following aggregate transactions:
|
$ |
|
|
Sales |
5 120 000 |
|
Interest income |
34 000 |
|
Sundry income |
25 000 |
|
Cost of Sales |
2 465 000 |
|
Employee benefit expenses |
856 000 |
|
Depreciation expense |
244 000 |
|
Amortisation - franchise |
25 000 |
|
Rental expense |
120 000 |
|
Advertising expense |
147 000 |
|
Insurance expense |
48 000 |
|
Freight out expense |
110 000 |
|
Doubtful debts expense |
16 000 |
|
Interest expense |
36 000 |
|
Borrowing Costs |
9 000 |
|
Other expenses |
8 000 |
|
Income tax expense |
320 000 |
The following additional information was noted during the preparation of financial statements for the year ended 30 June 2018:
75 000 fully paid ordinary shares have been issued on 1 October 2017 at the price of $4.00.
$135 000 dividends (31.76 cents per share) were declared and paid during the 2018 financial year. A final dividend for 2018 of $51 850 was proposed but not recognised in the financial statements.
There was a gain of $20 000 from the cash flow hedge arrangement during the 2018 financial year. Any gain or loss associated with the cash flow hedge is directly recognised in equity. There was no previously recognised cash flow hedge reserve before the 2018 financial year.
$25 000 of bank loans is repayable within 1 year.
$90 000 of other loans is repayable within 1 year.
The employee benefits of $32 000 are expected to be settled wholly within 12 months.
Emerald Ltd measures inventory at the lower of cost and net realizable value and property, plant and equipment using a cost model.
The summarised balances are provided below:
|
Year-end balances, 30 June 2018 |
$ |
|
Cash on hand |
960 000 |
|
Cash on deposit, at call |
82 000 |
|
Accounts Receivables |
665 000 |
|
Allowance for doubtful debts/ Impairments |
24 000 |
|
Other debtors |
27 000 |
|
Finished goods inventories, 30 June 2018 |
600 000 |
|
Work in Progress inventories 30 June 2018 |
105 000 |
|
Land |
94 000 |
|
Buildings |
230 000 |
|
Accumulated depreciation – buildings |
60 000 |
|
Plant and equipment |
1 385 000 |
|
Accumulated depreciation – plant and equipment |
330 000 |
|
Franchises |
140 000 |
|
Accumulated amortisation of franchise |
50 000 |
|
Goodwill |
620 000 |
|
Bank loans |
92 000 |
|
Other loans |
440 000 |
|
Accounts payable |
696 000 |
|
Provision for employee benefits |
116 000 |
|
Income tax payable |
35 000 |
|
Deferred tax liability |
140 000 |
|
Retained earnings, 30 June 2017 |
225 000 |
|
Dividends paid |
135 000 |
|
Cash flow hedge reserve (equity) |
20 000 |
Prepare a statement of profit or loss and comprehensive income for Emerald Ltd in accordance with the requirements of AASB 101. Emerald Ltd uses the single statement format for the statement of comprehensive income and classifies expenses by function within the statement;
In: Accounting
Emerald Ltd, a manufacturing company, commenced operations on 1 July 2016 by issuing 350 000 $5.00 shares, payable in full on application on a first-come, first-served basis. By 31 July 2016 the shares were fully subscribed and duly allotted. There were share issue costs of $10 000. No additional shares were issued during the year ending 30 June 2017.
For the year ending 30 June 2018, the company recorded the following aggregate transactions:
|
$ |
|
|
Sales |
5 120 000 |
|
Interest income |
34 000 |
|
Sundry income |
25 000 |
|
Cost of Sales |
2 465 000 |
|
Employee benefit expenses |
856 000 |
|
Depreciation expense |
244 000 |
|
Amortisation - franchise |
25 000 |
|
Rental expense |
120 000 |
|
Advertising expense |
147 000 |
|
Insurance expense |
48 000 |
|
Freight out expense |
110 000 |
|
Doubtful debts expense |
16 000 |
|
Interest expense |
36 000 |
|
Borrowing Costs |
9 000 |
|
Other expenses |
8 000 |
|
Income tax expense |
320 000 |
The following additional information was noted during the preparation of financial statements for the year ended 30 June 2018:
75 000 fully paid ordinary shares have been issued on 1 October 2017 at the price of $4.00.
$135 000 dividends (31.76 cents per share) were declared and paid during the 2018 financial year. A final dividend for 2018 of $51 850 was proposed but not recognised in the financial statements.
There was a gain of $20 000 from the cash flow hedge arrangement during the 2018 financial year. Any gain or loss associated with the cash flow hedge is directly recognised in equity. There was no previously recognised cash flow hedge reserve before the 2018 financial year.
$25 000 of bank loans is repayable within 1 year.
$90 000 of other loans is repayable within 1 year.
The employee benefits of $32 000 are expected to be settled wholly within 12 months.
Emerald Ltd measures inventory at the lower of cost and net realizable value and property, plant and equipment using a cost model.
The summarised balances are provided below:
|
Year-end balances, 30 June 2018 |
$ |
|
Cash on hand |
960 000 |
|
Cash on deposit, at call |
82 000 |
|
Accounts Receivables |
665 000 |
|
Allowance for doubtful debts/ Impairments |
24 000 |
|
Other debtors |
27 000 |
|
Finished goods inventories, 30 June 2018 |
600 000 |
|
Work in Progress inventories 30 June 2018 |
105 000 |
|
Land |
94 000 |
|
Buildings |
230 000 |
|
Accumulated depreciation – buildings |
60 000 |
|
Plant and equipment |
1 385 000 |
|
Accumulated depreciation – plant and equipment |
330 000 |
|
Franchises |
140 000 |
|
Accumulated amortisation of franchise |
50 000 |
|
Goodwill |
620 000 |
|
Bank loans |
92 000 |
|
Other loans |
440 000 |
|
Accounts payable |
696 000 |
|
Provision for employee benefits |
116 000 |
|
Income tax payable |
35 000 |
|
Deferred tax liability |
140 000 |
|
Retained earnings, 30 June 2017 |
225 000 |
|
Dividends paid |
135 000 |
|
Cash flow hedge reserve (equity) |
20 000 |
Prepare appropriate notes to the accounts. (You do not need to prepare notes related to income taxes. Include the following note as note 1. You may optionally add accounting policies to this note): .
In: Accounting
Emerald Ltd, a manufacturing company, commenced operations on 1 July 2016 by issuing 350 000 $5.00 shares, payable in full on application on a first-come, first-served basis. By 31 July 2016 the shares were fully subscribed and duly allotted. There were share issue costs of $10 000. No additional shares were issued during the year ending 30 June 2017.
For the year ending 30 June 2018, the company recorded the following aggregate transactions:
|
$ |
|
|
Sales |
5 120 000 |
|
Interest income |
34 000 |
|
Sundry income |
25 000 |
|
Cost of Sales |
2 465 000 |
|
Employee benefit expenses |
856 000 |
|
Depreciation expense |
244 000 |
|
Amortisation - franchise |
25 000 |
|
Rental expense |
120 000 |
|
Advertising expense |
147 000 |
|
Insurance expense |
48 000 |
|
Freight out expense |
110 000 |
|
Doubtful debts expense |
16 000 |
|
Interest expense |
36 000 |
|
Borrowing Costs |
9 000 |
|
Other expenses |
8 000 |
|
Income tax expense |
320 000 |
The following additional information was noted during the preparation of financial statements for the year ended 30 June 2018:
75 000 fully paid ordinary shares have been issued on 1 October 2017 at the price of $4.00.
$135 000 dividends (31.76 cents per share) were declared and paid during the 2018 financial year. A final dividend for 2018 of $51 850 was proposed but not recognised in the financial statements.
There was a gain of $20 000 from the cash flow hedge arrangement during the 2018 financial year. Any gain or loss associated with the cash flow hedge is directly recognised in equity. There was no previously recognised cash flow hedge reserve before the 2018 financial year.
$25 000 of bank loans is repayable within 1 year.
$90 000 of other loans is repayable within 1 year.
The employee benefits of $32 000 are expected to be settled wholly within 12 months.
Emerald Ltd measures inventory at the lower of cost and net realizable value and property, plant and equipment using a cost model.
The summarised balances are provided below:
|
Year-end balances, 30 June 2018 |
$ |
|
Cash on hand |
960 000 |
|
Cash on deposit, at call |
82 000 |
|
Accounts Receivables |
665 000 |
|
Allowance for doubtful debts/ Impairments |
24 000 |
|
Other debtors |
27 000 |
|
Finished goods inventories, 30 June 2018 |
600 000 |
|
Work in Progress inventories 30 June 2018 |
105 000 |
|
Land |
94 000 |
|
Buildings |
230 000 |
|
Accumulated depreciation – buildings |
60 000 |
|
Plant and equipment |
1 385 000 |
|
Accumulated depreciation – plant and equipment |
330 000 |
|
Franchises |
140 000 |
|
Accumulated amortisation of franchise |
50 000 |
|
Goodwill |
620 000 |
|
Bank loans |
92 000 |
|
Other loans |
440 000 |
|
Accounts payable |
696 000 |
|
Provision for employee benefits |
116 000 |
|
Income tax payable |
35 000 |
|
Deferred tax liability |
140 000 |
|
Retained earnings, 30 June 2017 |
225 000 |
|
Dividends paid |
135 000 |
|
Cash flow hedge reserve (equity) |
20 000 |
Prepare a statement of changes in equity for Emerald Ltd in accordance with the requirements of AASB 101;
In: Accounting