Stock Investment Transactions, Trading Securities
Zeus Investments Inc. is a regional investment company that began operations on January 1, Year 1. The following transactions relate to trading securities acquired by Zeus Investments Inc., which has a fiscal year ending on December 31:
| Year 1 | |
| Feb. 14. | Purchased 3,600 shares of Apollo Inc. as a trading security at $29 per share plus a brokerage commission of $720. |
| Apr. 1. | Purchased 1,700 shares of Ares Inc. as a trading security at $12 per share plus a brokerage commission of $340. |
| June 1. | Sold 900 shares of Apollo Inc. for $30 per share less an $120 brokerage commission. |
| June 27. | Received an annual dividend of $0.15 per share on Apollo stock. |
| Dec. 31. | The portfolio of trading securities was adjusted to fair values of $33 and $13 per share for Apollo Inc. and Ares Inc., respectively. |
| Year 2 | |
| Mar. 14. | Purchased 1,600 shares of Athena Inc. as a trading security at $34 per share plus a $240 brokerage commission. |
| June 26. | Received an annual dividend of $0.18 per share on Apollo Inc. stock. |
| July 30. | Sold 300 shares of Athena Inc. for $28 per share less a $90 brokerage commission. |
| Dec. 31. | The portfolio of trading securities had a cost of $143,975 and fair value of $138,700, requiring a credit balance in Valuation Allowance for Trading Investments of $5,275 ($143,975 - $138,700). Thus, the debit balance from December 31, Year 1 is to be adjusted to the new balance. |
Required:
1. Journalize the entries to record these transactions. For a compound transaction, if an amount box does not require an entry, leave it blank. In your computations, round per share amounts to two decimal places. When required, round final answers to the nearest dollar.
| Date | Description | Debit | Credit |
|---|---|---|---|
| Year 1 | |||
| Feb. 14 | Investments-Apollo Inc. | ||
| Cash | |||
| Apr. 1 | Investments-Ares Inc. | ||
| Cash | |||
| June 1 | Cash | ||
| Gain on Sale of Investments | |||
| Investments-Apollo Inc. | |||
| June 27 | Cash | ||
| Dividend Revenue | |||
| Dec. 31 | Valuation Allowance for Trading Investments | ||
| Unrealized Gain on Trading Investments | |||
| Year 2 | |||
| Mar. 14 | Investments-Athena Inc. | ||
| Cash | |||
| June 26 | Cash | ||
| Dividend Revenue | |||
| July 30 | Cash | ||
| Loss on Sale of Investments | |||
| Investments-Athena Inc. | |||
| Dec. 31 | Unrealized Loss on Trading Investments | ||
| Valuation Allowance for Trading Investments | |||
2. Prepare the investment-related current asset balance sheet presentation for Zeus Investments Inc. on December 31, Year 2.
| Zeus Investments
Inc. Balance Sheet (selected items) December 31, Year 2 |
||
|---|---|---|
| Current Assets: | ||
| Trading Investments (at Cost) | ||
| Less Valuation Allowance For Trading Investments | ||
| Trading Investments (at Fair Value) | ||
3. How are unrealized gains or losses on trading investments presented in the financial statements of Zeus Investments Inc.?
Unrealized gains or losses are reported in the income statement , often as Other Income (Losses) .
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A toll-free phone number is available from 9 AM to 9 PM for your customers to register complaints about a product purchased from your company. Past history indicates that an average of 2.8 calls is received per minute.
What is the area of opportunity?
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As more and more companies compete in the digital marketplace, the playing field has become “noisy”. How does a company overcome the noise and retain its customers? Share two approaches you feel an organization can take to overcome this challenge. Describe them in details.
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Medical research has shown that repeated wrist extension beyond 20 degrees increases the risk of wrist and hand injuries. Each of 24 students at a university used a proposed new computer mouse design. While using the mouse, each student's wrist extension was recorded. Data consistent with summary values given in a paper are given. Use these data to test the hypothesis that the mean wrist extension for people using this new mouse design is greater than 20 degrees. (Use
α = 0.05.
Use a statistical computer package to calculate the P-value. Round your test statistic to two decimal places and your P-value to three decimal places.)
| 27 | 26 | 24 | 25 | 27 | 28 | 28 | 24 | 24 | 24 | 28 | 26 |
| 22 | 28 | 24 | 26 | 27 | 25 | 31 | 28 | 26 | 27 | 27 | 28 |
| t |
= |
| P-value | = 0.00 |
1. State your conclusion.
Reject H0. We have convincing evidence that the mean wrist extension for all people using the new mouse design is greater than 20 degrees.
2. Are any assumptions required in order for it to be appropriate to generalize the results of your test to the population of students from this university?
We need to assume that the 24 students used in the study are representative of all students at the university.
3. Are any assumptions required in order for it to be appropriate to generalize the results of your test to the population of all university students?
1. We need to assume that the 24 students used in the study are representative of all students who use a wireless mouse.
2. We need to assume that the 24 students used in the study are representative of all students at the university.
3.. We need to assume that the 24 students used in the study are representative of all students who own PCs.
4. We need to assume that the 24 students used in the study are representative of all university students.
5.We need to assume that the 24 students used in the study are representative of all students in computer science classes
I am missing T and the third question
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| No | Date | Account Title | Debit | Credit |
|---|---|---|---|---|
| 1 | Jan 02 | Prepaid Rent | 6,300 | |
| Cash | 6,300 | |||
| 2 | Jan 09 | Supplies | 3,600 | |
| Accounts Payable | 3,600 | |||
| 3 | Jan 13 | Accounts Receivable | 25,600 | |
| Service Revenue | 25,600 | |||
| 4 | Jan 17 | Cash | 3,800 | |
| Deferred Revenue | 3,800 | |||
| 5 | Jan 20 | Salaries Expense | 11,600 | |
| Cash | 11,600 | |||
| 6 | Jan 22 | Cash | 24,200 | |
| Accounts Receivable | 24,200 | |||
| 7 | Jan 29 | Accounts Payable | 4,100 | |
| Cash | 4,100 | |||
| 8 | Jan 31 | Rent Expense | 525 | |
| Prepaid Rent | 525 | |||
| 9 | Jan 31 | Supplies Expense | 3,900 | |
| Supplies | 3,900 | |||
| 10 | Jan 31 | Deferred Revenue | 3,275 | |
| Service Revenue | 3,275 | |||
| 11 | Jan 31 | Salaries Expense | 5,730 | |
| Salaries Payable | 5,730 | |||
| 12 | Jan 31 | Service Revenue | 28,875 | |
| Retained Earnings | 28,875 | |||
| 13 | Jan 31 | Retained Earnings | 21,755 | |
| Salaries Expense | 17,330 | |||
| Rent Expense | 525 | |||
| Supplies Expense | 3,900 |
PLEASE HELP FILLING OUT THE ANALYSIS TAB
Using the information from the requirements above, complete the 'Analysis' tab.
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Koppenhaver Products, Inc., has a Relay Division that manufactures and sells a number of products, including a standard relay that could be used by another division in the company, the Electronics Division, in one of its products. Data concerning that relay appear below:
| Capacity in units | 86,000 | |
| Selling price to outside customers | $ | 63 |
| Variable cost per unit | $ | 41 |
| Fixed cost per unit (based on capacity) | $ | 10 |
The Electronics Division is currently purchasing 15,000 of these relays per year from an overseas supplier at a cost of $57 per relay.
Assume that the Valve Division is selling all of the valves it can produce to outside customers. Also assume that $10 in variable expenses can be avoided on transfers within the company due to reduced shipping and selling costs. What should be the minimum acceptable transfer price for the valves from the standpoint of the Valve Division?
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I JUST NEED THE ANSWER, THX.
Three different companies each purchased trucks on January 1,
2018, for $80,000. Each truck was expected to last four years or
250,000 miles. Salvage value was estimated to be $4,000. All three
trucks were driven 78,000 miles in 2018, 55,000 miles in 2019,
50,000 miles in 2020, and 70,000 miles in 2021. Each of the three
companies earned $69,000 of cash revenue during each of the four
years. Company A uses straight-line depreciation, company B uses
double-declining-balance depreciation, and company C uses
units-of-production depreciation.
Answer each of the following questions. Ignore the effects of
income taxes.
a-1. Calculate the net income for 2018? (Round "Per Unit Cost" to 3 decimal places.)
a-2. Which company will report the highest amount of net income for 2018?
b-1. Calculate the net income for 2021? (Round "Per Unit Cost" to 3 decimal places.)
b-2. Which company will report the lowest amount of net income for 2021?
c-1. Calculate the book value on the December 31, 2020, balance sheet? (Round "Per Unit Cost" to 3 decimal places.)
c-2. Which company will report the highest book value on the December 31, 2020, balance sheet?
d-1. Calculate the retained earnings on the December 31, 2021, balance sheet?
d-2. Which company will report the highest amount of retained earnings on the December 31, 2021, balance sheet?
E.Which company will report the lowest amount of cash flow from operating activities on the 2020 statement of cash flows?
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What are the differences between a qualitative research design verses a quantitative research design?
When would it be appropriate to use one design over another in investigating a business process problem? For example, a toothpaste company wants to find out what the demand for a tooth whitening gel is among male customers between the ages of 30–40 years. What research design would be appropriate for the company to use?
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Consumer versus Industrial Services
There are many challenges Marketing Managers face when marketing services. This discussion will focus on areas such as intangibility and how managers can make their services more tangible.
Topic 1:
Pick two services companies, one consumer company, and one business-to-business (industrial) manufacturer.
What can a company in each of these industries do to make its services more tangible to customers?
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Assume the following is the current asset section from Intuit’s balance sheet.
| July 31 ($ 000s) | 2016 | 2015 |
|---|---|---|
| Cash and cash equivalents | $83,842 | $125,992 |
| Investments | 910,416 | 991,971 |
| Accounts receivable, net | 86,125 | 81,615 |
| Deferred income taxes | 54,854 | 31,094 |
| Prepaid expenses | 99,275 | 62,792 |
| Current assets of discontinued operations/td> | 21,989 | 12,279 |
| Funds held for payroll customers | 357,838 | 323,041 |
| Total current assets | 1,614,339 | 1,528,784 |
Assume Intuit’s 2016 revenue was $2,038,000 thousand.
Compute days sales outstanding for 2016.
Select one:
a. 16.4 days
b. 29.9 days
c. 12.7 days
d. 15.0 days
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