Graffiti Advertising, Inc., reported the following financial
statements for the last two years.
| 2016 Income Statement | |||
| Sales | $ | 571,200 | |
| Costs of goods sold | 273,965 | ||
| Selling and administrative | 124,721 | ||
| Depreciation | 54,564 | ||
| EBIT | $ | 117,950 | |
| Interest | 19,560 | ||
| EBT | $ | 98,390 | |
| Taxes | 39,356 | ||
| Net income | $ | 59,034 | |
| Dividends | $ | 10,800 | |
| Addition to retained earnings | $ | 48,234 | |
|
GRAFFITI ADVERTISING, INC. Balance Sheet as of December 31, 2015 |
|||||||
| Cash | $ | 13,440 | Accounts payable | $ | 9,492 | ||
| Accounts receivable | 18,982 | Notes payable | 14,496 | ||||
| Inventory | 13,806 | Current liabilities | $ | 23,988 | |||
| Current assets | $ | 46,228 | |||||
| Long-term debt | $ | 135,840 | |||||
| Net fixed assets | $ | 344,786 | Owner's equity | $ | 231,186 | ||
| Total assets | $ | 391,014 | Total liabilities and owners’ equity | $ | 391,014 | ||
|
GRAFFITI ADVERTISING, INC. Balance Sheet as of December 31, 2016 |
|||||||
| Cash | $ | 14,426 | Accounts payable | $ | 10,524 | ||
| Accounts receivable | 21,087 | Notes payable | 16,478 | ||||
| Inventory | 22,766 | Current liabilities | $ | 27,002 | |||
| Current assets | $ | 58,279 | |||||
| Long-term debt | $ | 153,200 | |||||
| Net fixed assets | $ | 406,299 | Owner's equity | $ | 284,376 | ||
| Total assets | $ | 464,578 | Total liabilities and owners’ equity | $ | 464,578 | ||
a. Calculate the operating cash flow.
(Do not round intermediate calculations and round your
answer to the nearest whole number, e.g., 32.)
Operating cash flow
$
b. Calculate the change in net working capital.
(Do not round intermediate calculations and round your
answer to the nearest whole number, e.g., 32.)
Change in net working capital
$
c. Calculate the net capital spending. (Do
not round intermediate calculations and round your answer to the
nearest whole number, e.g., 32.)
Net capital spending
$
d. Calculate the cash flow from assets. (A
negative answer should be indicated by a minus sign. Do not round
intermediate calculations and round your answer to the nearest
whole number, e.g., 32.)
Cash flow from assets
$
e. Calculate the cash flow to creditors.
(Do not round intermediate calculations and round your
answer to the nearest whole number, e.g., 32.)
Cash flow to creditors
$
f. Calculate the cash flow to stockholders.
(A negative answer should be indicated by a minus sign. Do
not round intermediate calculations and round your answer to the
nearest whole number, e.g., 32.)
Cash flow to stockholders
$
In: Finance
Lesedi Company (Pty) Ltd.’s balance sheets for the last two years are provided below
|
Balance Sheet |
2019 |
2018 |
|
Cash |
R 82 000 |
R 40 000 |
|
Accounts Receivable |
180 000 |
150 000 |
|
Inventory |
170 000 |
200 000 |
|
Equipment |
200 000 |
140 000 |
|
Accum. Depreciation |
(72 000) |
(60 000) |
|
Total Assets |
R560 000 |
R470 000 |
|
Accounts Payable |
R100 000 |
R 80 000 |
|
Long-term Payables |
100 000 |
50 000 |
|
Ordinary Shares |
250 000 |
250 000 |
|
The company’s income statement for 2019 is provided below
|
Income Statement |
2019 |
|
Sales |
R345 000 |
|
Expenses: |
|
|
Cost of Goods Sold |
R120 000 |
|
Operating Expenses |
58 000 |
|
Depreciation Expense |
20 000 |
|
Interest Expense |
2 000 |
|
200 000 |
|
|
Operating Income |
145 000 |
|
Gain on Sale-- Equipment* |
5 000 |
|
Income before Taxes |
150 000 |
|
Tax Expense |
30 000 |
|
Net Income/profit |
R120 000 |
|
The company sold equipment for R57 000 that had a cost of R60 000 Required: Prepare the company’s Statement of Cash flow for 2019. Use the direct method for calculating the cash flows from operating activities. (15) |
|
In: Accounting
Suppose that you and two friends go to a restaurant, which last month filled approximately 86% of the orders correctly.
(a) What is the probability that all three orders will be filled correctly?
The probability is 0.6361
(b) What is the probability that none of the three orders will be filled correctly?
The probability is 0.0022
(c) What is the probability that at least two of the three orders will be filled correctly?
The probability is 0.9466
(d) What are the mean and standard deviation of the binomial distribution used in (a) through (c)? Interpret these values.
The mean is= ?
(Round to four decimal places)
In: Statistics and Probability
Calculating Residual Income
Forchen, Inc., provided the following information for two of its divisions for last year:
Small Appliances
Division Cleaning Products
Division
Sales $34,630,000
$31,350,000
Operating income 2,653,000
1,253,000
Operating assets, January 1 6,393,000
5,730,000
Operating assets, December 31
7,530,000
6,040,000
Forchen, Inc., requires an 6 percent minimum rate of return.
Required:
1. Calculate residual income for the Small Appliances Division.
$
2. Calculate residual income for the Cleaning Products Division.
$
3. What if the minimum required rate of return was 7 percent? How would that affect the residual income of the two divisions?
Small Appliances Division residual income would be
Cleaning Products Division residual income would be
In: Accounting
Gomez Co. had the following transactions in the last two months of its year ended December 31st. Nov. 1st Paid $1,900 cash for future newspaper advertising. 1st Paid $2,460 cash for 12 months of insurance through October 31st of the next year. 30th Received $3,700 cash for future services to be provided to a customer. Dec. 1st Paid $6,000 cash for a consultant’s services to be received over the next three months. 15 Received $7,950 cash for future services to be provided to a customer. 31st Of the advertising paid for on November 1st, $1,500 worth is not yet used. 31st A portion of the insurance paid for on November 1st has expired. No adjustment was made in November to Prepaid Insurance. 31st Services worth $1,500 are not yet provided to the customer who paid on November 30. 31st One-third of the consulting services paid for on December 1st have been received. 31st The company has performed $3,400 of services that the customer paid for on December 15th.
Required 1. Prepare entries for these transactions under the method that records prepaid expenses as assets and records unearned revenues as liabilities. Also prepare adjusting entries at the end of the year.
2. Prepare entries for these transactions under the method that records prepaid expenses as expenses and records unearned revenues as revenues. Also prepare adjusting entries at the end of the year.
In: Accounting
Please can someone explain this to me. I am stuck at the last two questions
Use the following information to calculate your answers to questions 10 through 14.
Test scores of 10 individuals before and after a training program are shown below. Note: despite the sample size, assume that the sampling distribution of T+ can still be approximated by a normal distribution.
|
Individual |
Score After |
Score Before |
|
1 |
57 |
59 |
|
2 |
62 |
57 |
|
3 |
60 |
60 |
|
4 |
63 |
66 |
|
5 |
69 |
68 |
|
6 |
63 |
59 |
|
7 |
74 |
72 |
|
8 |
56 |
52 |
|
9 |
64 |
58 |
|
10 |
64 |
63 |
Question 10
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Question text
What is the sum of positive signed ranks (T+)?
Select one:
a. 22.50
b. 8.44
c. 14.52
d. 36.50
e. 71.25
Question 11
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The mean µT is
Select one:
a. 71.25
b. 8.50
c. 8.44
d. 14.52
e. 22.50
Question 12
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The value of σT is
Select one:
a. 71.25
b. 22.50
c. 14.52
d. 8.44
e. 8.50
Question 13
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At α = 0.05, what can be concluded about the effectiveness of the training program?
Select one:
a. Since p-value is less than alpha, we can conclude that the training program was extremely effective.
b. Since p-value is greater than alpha, we can conclude that the training program was somewhat effective.
c. Since p-value is greater than alpha, we can conclude that the training program was ineffective.
d. The study is inconclusive.
e. Since p-value is less than alpha, we can conclude that the training program was ineffective.
Question 14
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Question text
At α = 0.2, what can be concluded about the effectiveness of the training program?
Select one:
a. Do not reject Ho: the training program was effective.
b. Reject Ho: the training program was ineffective.
c. Do not reject Ho: the training program was ineffective.
d. The study is inconclusive.
e. Reject Ho: the training program was effective
In: Statistics and Probability
An instructor who taught two sections of engineering statistics last term (the first with 20 students and the second with 30), decided to assign a term project. After all projects had been turned in, the instructor randomly ordered them before grading. Consider the first 15 graded projects.
a. What is the probability that exactly 10 of these are from the second section? b. What is the probability that at least 10 of these are from the second section?
In: Statistics and Probability
An instructor who taught two sections of engineering statistics last term, the first with 25 students and the second with 35, decided to assign a term project. After all projects had been turned in, the instructor randomly ordered them before grading. Consider the first 15 graded projects.
(a) What is the probability that exactly 10 of these are from
the second section? (Round your answer to four decimal
places.)
(b) What is the probability that at least 10 of these are from the
second section? (Round your answer to four decimal places.)
(c) What is the probability that at least 10 of these are from the
same section? (Round your answer to four decimal places.)
(d) What are the mean value and standard deviation of the number
among these 15 that are from the second section? (Round your mean
to the nearest whole number and your standard deviation to three
decimal places.)
| mean | projects |
| standard deviation | projects |
(e) What are the mean value and standard deviation of the number of
projects not among these first 15 that are from the second section?
(Round your mean to the nearest whole number and your standard
deviation to three decimal places.)
| mean | projects |
| standard deviation | projects |
In: Statistics and Probability
What role does partisanship play in federal court appointments? In the last two decades, has the Supreme Court acted with more judicial activism or restraint? Explain. In your opinion, is the Supreme Court too powerful or is it equal to the other branches? Try to make it 350 words please.
In: Psychology
Generic Motors Corporation has two product lines, A and B. Its revenue and costs for last year is as follows:
| Product A | Product B | Total | |
| sales volume (units) | 100 | 200 | 300 |
| Revenue | $6,000 | $30,000 | $36,000 |
| Costs: | |||
| direct materials | $1,200 | $6,000 | $7,200 |
| direct labor | $3,000 | $12,000 | $15,000 |
| OH costs | $11,700 | ||
| Profit | $2,100 |
Generic Motors uses ABC to allocate the overhead costs. It
examined the main activities in the firm, and decided to break up
the total overhead costs of $11,700 into 3 cost pools:
* "labor-related" - the total cost in this pool is $3,000,
allocated based on direct labor dollars
* "sales-related" - the total cost in this pool is $2,700,
allocated based on number of units
* "production setups" - the total cost in this pool is $6,000,
allocated based on the number of production setups. Product A
requires 10 setups. Product B requires is 40 setups.
Required:
a) for each cost pool, compute the activity rate and the amounts
allocated to product A and product B.
(hint: The amounts allocated to A and B from each pool should
add up to the total cost in that pool. To allocate the costs in the
"production setups" pool, you will have to compute the number of
batches. If the total number of batches for A and B does not add up
to 50, you are doing something wrong).
* "labor-related" pool:
activity rate = $ per DL$
Labor-related OH costs allocated to A = $
Labor_related OH costs allocated to B = $
* "sales-related" pool:
activity rate = $ per unit
Sales-related OH costs allocated to A = $
Sales_related OH costs allocated to B = $
* "production setups" pool:
activity rate = $ per setup
Production setups OH costs allocated to A = $
Production setups OH costs allocated to B = $
b) using the allocated OH costs from (a), compute the profit margin
for product A and product B.
If you get a negative number, enter it with a minus sign, i.e.,
enter negative $100 as -100, not ($100)
profit margin for A = $
profit margin for B = $
In: Accounting