Questions
The Trial balance for Jasmine Ltd for the year ended 30.9.18 is below: Debit (£) Credit...

The Trial balance for Jasmine Ltd for the year ended 30.9.18 is below:

Debit (£)

Credit (£)

Vehicles

58,250

Tax paid for the year

10,000

Sundry expenses

1,360

Sales

600,000

Salaries

82,500

Reserves

456,600

Rates

16,250

Purchases

110,000

Prepayments

1,300

Plant & Machinery

160,000

Land

800,000

Inventory at 30.9.17

15,000

Interest paid

6,000

Utilities

22,000

Delivery costs

3,640

Cash

19,650

Capital

850,000

Buildings

750,000

Bank overdraft

30,000

Administration costs

14,300

Accumulated depreciation on vehicles at 30.9.17

11,650

Accumulated depreciation on plant & machinery at 30.9.17

16,000

Accumulated depreciation on buildings at 30.9.17

136,000

Accounts receivable

250,000

Accounts payable

120,000

8% Long-term loan

100,000

2,320,250

2,320,250

The following supplementary information is available which has not been subjected to double entry

  1. Closing inventories are £55,000.
  2. Utilities includes an overpayment of electricity not yet used of £3500
  3. A customer owing £10,700 has become bankrupt and there is no chance of payment. In addition a provision for future doubtful debts of 3% of remaining accounts receivable should be established.
  4. An invoice for stationery has been received for £650 but not yet paid. This relates to items acquired in December 2017. Stationery is recorded as part of sundry expenses.
  5. The final interest payment for the 8% loan due September 2018 has not yet been paid.
  6. Depreciation is charged per annumm on the following basis: Buildings 2% straight-line; Vehicles 20% reducing balance; Plant and Machinery 10% straight-line.

Required: Produce an Income Statement and a Statement of Financial Position for Jasmine Ltd for the yer ended 30.9.18

In: Accounting

In the fourth quarter of last year, Colditz Company embarked on a major effort to improve...

In the fourth quarter of last year, Colditz Company embarked on a major effort to improve productivity. It redesigned products, reengineered manufacturing processes, and offered productivity improvement courses. The effort was completed in the last quarter of the current year. The controller’s office has gathered the following year-end data to assess the results of this effort:

Current
Year
Prior
Year
Units manufactured and sold 27,000 22,500
Selling price of the product $ 52 $ 52
Direct materials used (pounds) 15,200 14,200
Cost per pound of materials $ 10 $ 8
Direct labor hours 6,450 7,200
Hourly wage rate $ 25 $ 20
Power (kwh) 1,500 750
Cost of power per kwh $ 3 $ 3

Required

1. Prepare a summary contribution income statement for each of the 2 years, and calculate the change in operating income.

2. Compute the partial operational productivity ratios for each production factor in each year.

3. Compute the partial financial productivity ratios for each production factor in each year.

In: Accounting

The following information is available for Henderson Components for the year just ended. Sales price $...

The following information is available for Henderson Components for the year just ended.

Sales price $ 55
Fixed costs (for the year)
Selling and administrative 451,200
Production 676,800
Variable cost (per unit)
Materials 14
Labor 10
Plant supervision 7
Selling and administrative 11
Number of units (for the quarter) 225,600 units

Required:

Select the answer for each of the following costs.

a. Variable cost per unit.

b. Variable production cost per unit.

c. Full cost per unit.

d. Full absorption cost per unit.

e. Prime cost per unit.

f. Conversion cost per unit.

g. Contribution margin per unit.

h. Gross margin per unit.

In: Accounting

Briefly describe a merger or acquisition that has been in the news within the past year...

Briefly describe a merger or acquisition that has been in the news within the past year and provide a link to the information. 
What is the economic justification for the merger? 
Does the merger or acquisition substantially reduce competition? 
Will the industry tend to remain competitive after the merger, or will it tend to become more concentrated (as with an oligopoly or monopoly)? 
Will consumers benefit from the merger or acquisition?

In: Economics

The year is 2040, and you are part ofan intergalactic research team.  In the On-Line galaxy, on...

The year is 2040, and you are part ofan intergalactic research team.  In the On-Line galaxy, on the planet Virtual, you discover ureotelic organisms that have biochemistry analogous to terrestrial organisms (aka us!). You have isolated the following compound that appears to be an intermediate in their urea cycle.  Based on this compound, and the excellent (ahem!) biochemical education you received in CHM 3280, predict the rest of the Virtualian Urea Cycle.  Provide structures and enzyme names, cofactors etc.

In: Biology

The Dorset Corporation produces and sells a single product. The following data refer to the year...

The Dorset Corporation produces and sells a single product. The following data refer to the year just completed:

Beginning inventory 0
Units produced 34,500
Units sold 26,800
Selling price per unit $ 490
Selling and administrative expenses:
Variable per unit $ 16
Fixed per year $ 616,400
Manufacturing costs:
Direct materials cost per unit $ 254
Direct labor cost per unit $ 55
Variable manufacturing overhead cost per unit $ 33
Fixed manufacturing overhead per year $ 552,000

Assume that direct labor is a variable cost.

Required:

a. Compute the unit product cost under both the absorption costing and variable costing approaches.

b. Prepare an income statement for the year using absorption costing.

c. Prepare an income statement for the year using variable costing.

d. Reconcile the absorption costing and variable costing net operating income figures in (b) and (c) above.

In: Accounting

How many times longer than the length of one year is the age of the Earth?

How many times longer than the length of one year is the age of the Earth?

In: Physics

A 65-year-old male was admitted for evaluation of pain on swallowing and a sore throat that...

A 65-year-old male was admitted for evaluation of pain on swallowing and a sore throat that has persisted for the past year. The discomfort has not changed with the use of various over the counter cold remedies. The client has lost weight due to a decrease in appetite and difficulty swallowing. He has smoked 3 packs of cigarettes a day for 40 years.

A laryngoscopy showed a subglottic mass. The client had a total laryngectomy with tracheostomy to manage laryngeal cancer. He also has a nasogastric tube in place.

You will be providing care for this client during his first 72 hours after surgery.

 

Initial Discussion Post:

There are multiple nursing diagnoses that are applicable to this client during the time when you will be providing care.

Select one NANDA-I nursing diagnosis and describe why it is a priority for this client.
What is the cause or related factor for this NANDA-I nursing diagnosis?
Identify an outcome for this NANDA-I nursing diagnosis. The outcome must be patient centered and measurable.
Identify two (2) nursing interventions that will help this client achieve the outcome.
Describe how each intervention will help the patient achieve the outcome..

In: Nursing

Percent of Sales Method At the end of the current year, Accounts Receivable has a balance...

Percent of Sales Method

At the end of the current year, Accounts Receivable has a balance of $840,000; Allowance for Doubtful Accounts has a credit balance of $7,500; and sales for the year total $3,780,000. Bad debt expense is estimated at 3/4 of 1% of sales.

a. Determine the amount of the adjusting entry for uncollectible accounts.
$

b. Determine the adjusted balances of Accounts Receivable, Allowance for Doubtful Accounts, and Bad Debt Expense.

Adjusted Balance
Debit (Credit)
Accounts Receivable $
Allowance for Doubtful Accounts $
Bad Debt Expense $

c. Determine the net realizable value of accounts receivable.
$

In: Accounting

Suppose you won the lottery but not all of your winnings will come in one year....

Suppose you won the lottery but not all of your winnings will come in one year. Instead, you will get a series of annual payments over the next five years. The table below tells you what your payment will be every year for the next five years. Use the information in the table to make the following computations:
The present and future value of your lottery ticket if the interest rate is 8%
The present and future value of your lottery ticket if the interest rate is 10%
Year Payment
1 5000
2 6000
3 7000
4 8000
5 9000

In: Finance