The Distance Plus partnership has the following capital balances at the beginning of the current year:

Each of the following questions should be viewed independently.

A.If Sergio invests $150,000 in cash in the business for a 30 percent interest, what journal entry is recorded? Assume that the bonus method is used.

B. If Sergio invests $140,000 in cash in the business for a 30 percent interest, what journal entry is recorded? Assume that the bonus method is used.

C. If Sergio invests $150,000 in cash in the business for a 30 percent interest, what journal entry is recorded? Assume that the goodwill method is used.

The following are the cash flows of two projects:

Year Project A Project B

0 ?$ 280 ?$ 280

1 160 180

2 160 180

3 160 180

4 160

If the opportunity cost of capital is 10%, what is the profitability index for each project? (Do not round intermediate calculations. Round your answers to 4 decimal places.) Project A Profitability Index Project B

A loan of $20,000 is repaid through annual, end of year payments of $2,500 each. The end of year final payment is reduced and the annual effective rate is 8%. Find the outstanding loan balance after $15,000 has been repaid.

Presented below are a number of balance sheet items for Montoya, Inc. for the current year, 2020.

Prepare a classified balance sheet in good form. Common stock authorized was 400,000 shares, and preferred stock authorized was 20,000 shares. Assume that notes receivable and notes payable are short-term, unless stated otherwise. Cost and fair value of debt investments (trading) are the same.

DataSpan, Inc., automated its plant at the start of the current year and installed a flexible manufacturing system. The company is also evaluating its suppliers and moving toward Lean Production. Many adjustment problems have been encountered, including problems relating to performance measurement. After much study, the company has decided to use the performance measures below, and it has gathered data relating to these measures for the first four months of operations.

Management has asked for your help in computing throughput time, delivery cycle time, and MCE. The following average times have been logged over the last four months:

Required:

1-a. Compute the throughput time for each month.

1-b. Compute the delivery cycle time for each month.

1-c. Compute the manufacturing cycle efficiency (MCE) for each month.

2. Evaluate the company’s performance over the last four months.

3-a. Refer to the move time, process time, and so forth, given for month 4. Assume that in month 5 the move time, process time, and so forth, are the same as in month 4, except that through the use of Lean Production the company is able to completely eliminate the queue time during production. Compute the new throughput time and MCE.

3-b. Refer to the move time, process time, and so forth, given for month 4. Assume in month 6 that the move time, process time, and so forth, are again the same as in month 4, except that the company is able to completely eliminate both the queue time during production and the inspection time. Compute the new throughput time and MCE.

Please create a salary budget for St Catherine Hospital for the year. You are opening a new patient care unit of 30 medical-surgical patient beds which will be opened for the entire year. You will be staffing the unit as follows:

Day shift (7:00 am – 7:00 pm) - RN to patient ratio of 6 patients to 1 nurse. Each nurse will be assigned one Patient Care Associate (PCA) daily. The nurses and PCAs work three twelve hour days (12 hour days) per pay period. Each pay period is 2 weeks. There is one unit secretary, one Nurse Manager and one Assistant Nurse Manager. The unit secretary, Nurse Manager and Assistant Nurse Manager work five days a week – 8 hour days.

Night shift (7:00 pm – 7:00 am) - RN to patient ratio of 10 patients to 1 nurse. Each nurse will be assigned one Patient Care Associate (PCA) per night. The nurses and PCAs work three twelve hour nights (12 hour nights) per pay period. Each pay period is 2 weeks. There are two Assistant Nurse Managers who cover 7 nights per week- 10 hour shifts (9pm- 7am). There is no unit secretary on at night.

1- Average salary for RN = $ 40 per hour

2- Average salary for PCA = $ 15 per hours.

3- Salary for Nurse Manager = $120,000 annually

4- Salary for Unit Secretary = $ 12 annually

5- Salary for Assistant Nurse Manager = $ 90,000 annually

6- Night differential is paid to non-management staff at a 10% differential for all hours worked after 7pm and up until 7 am.

7- Benefits (health and disability) should be calculated at 30% of salary expense.

8- Replacement time for vacation, sick, and holiday should be calculated at 20%.

9- Assume the Average Daily Census for the unit is 25 patient beds. Patient days should be calculated using 25 beds X 365 days/ year.

10- Assume hours worked for 5 days a week are 40 per week or 2,080 hours annually (40 X 52 weeks).

11- Assume hours worked for 3 days a week are 36 per week or 1,872 hours annually (36 X 52 weeks).

12- Assume hours worked for 10 hour shifts are 7 shifts every 2 weeks or 70 hours per two weeks or 1,820 annually.

Assignment:

Please create an excel spreadsheet and calculate the following:

1- How many FTEs will be included in your budget?

2- How many full-time and part-time employees will you need to cover all shifts for the year?

3- What is the total salary expense for the year?

4- What is the total benefit expense for the year?

5- What is the total personnel budget for the year?

6- Please calculate the Patient Care hours ratio. Patient Care hours are calculated by Direct Care giver hours worked per year (RN and PCA)/ Total patient days.

7- On which financial statement would you find salary expense and benefit expense?

8- Please prepare the journal entry for the annual salary expense

. 9- Please prepare the journal entry for the annual benefit expense.

Please help me to answer all these questions. Second time posting.

Brown Corporation is investigating the optimal level of current assets for the coming year. The following parameters are applicable to the decision:

-Management expects sales to increase to approximately $20 million due to an asset expansion presently being undertaken.   

-Fixed assets total $10 million.

-The firm plans to maintain a 60 percent debt ratio. Half of the debt is short-term debt and half is long-term debt.

-Brown’s interest rate is currently 6 percent on the short-term and 8 percent on the long-term debt.

-Two alternatives regarding the projected current asset level are under consideration: (1) a tight policy where current assets would be 30 percent of projected sales and (2) a relaxed policy where current assets would be 50 percent of sales.

-Earnings before interest and taxes are projected to be 20 percent of total sales and the tax rate is 40 percent.

                        Required:

a) What is the expected return on equity under each asset level?

b) Why is the return on equity a preferred metric for making the decision?

c) Is it a valid assumption that sales are independent of the current asset policy?

d) How would the firm’s risk be affected by the different policies?

Materials and Labor Variances

At the beginning of the year, Craig Company had the following standard cost sheet for one of its plastic products:

The actual results for the year are as follows:

1. Units produced: 490,000.
2. Materials purchased: 3,430,000 pounds @ $5.55.
3. Materials used: 2,891,000 pounds.
4. Direct labor: 1,078,000 hours @ $11.04.

Required:

1. Compute price and usage variances for materials. Enter amounts as positive numbers and select Favorable or Unfavorable.

2. Compute the labor rate and labor efficiency variances. Enter amounts as positive numbers and select Favorable or Unfavorable.

The owners have approached you, the businesses accountant and asked if, for the financial year ending 30 June 2021, you would change to the direct write-off method for recording bad debts. How does changing the measurement of bad debts from the allowance method to the direct write-off method influence the usefulness of financial information? Ensure you reference the fundamental qualitative characteristics of information prescribed by the Conceptual Framework for Financial Reporting in your response.