Company X is in its first year of operations and has decided to use the percentage of sales method for estimating uncollectible accounts. Sales for the year totaled $112,000. Company X has assessed uncollectible accounts at 10% of sales. The company recorded $11,200 of bad debt expense. Write-offs for the period were $3,000. What is the effect of this transaction?

Select one:

a. Net income is overstated by 3,000

b. Cost of Goods sold is understated by 3,000

c. Bad debt expense is overstated by 3,000

d. None of the these

Cortez Company sells chairs that are used at computer stations. Its beginning inventory of chairs was 170 units at $42 per unit. During the year, Cortez made two batch purchases of this chair. The first was a 295-unit purchase at $47 per unit; the second was a 365-unit purchase at $49 per unit. During the period, it sold 515 chairs

Determine the amount of product costs that would be allocated to cost of goods sold and ending inventory, assuming that Cortez uses

FIFO.

LIFO.

Weighted average.

People across the United States are fearful - and fed up- with crime. Dogs for protection, special locks, and security systems have never been more popular. And no wonder: Almost half of U.S. adults claim that they are afraid to walk alone at night in the vicinity of their own homes. Government spending on crime prevention has risen steadily during the past thirty years, but so has the crime rate. At the same time, as noted at the beginning of this chapter, violent crime has gone down in the last few years. New York City is a case in point: Murders in the Big Apple dropped from 2,245 in 1990 to 803 in 1997. Are we beginning to learn something more about controlling crime? Three factors seem to account for the New York turnaround. First, more police are on the streets than ever before. Second, a program of "community policing" makes police commanders directly responsible for controlling crime in their district. Third, and probably more important, police are less focused on making arrests and more concerned with preventing crime in the first place. For example, police officers have begun stopping young men for jaywalking or even spitting on the sidewalk in order to check them for concealed weapons (as a result the word is getting around that you risk arrest for carrying a gun) and even blocking off streets to traffic if that's what it takes to put local drug dealers out of business (the policy seems to work: the drug trade is down). Travis Hirschi (author of control theory) offers his own version of a community approach to crime. Hirschi notes that criminals today have two things in common. The first is age; most offenders are young. Crime rates are high in the late teens and early twenties, and they fall quickly thereafter. Second, most offenders take a short-term view of their lives. Lawbreakers, as Hirschi sees it, are people who have trouble working toward any long-term goal, including an educational degree, a career, a successful marriage, or even keeping a steady friendship. More than anything else, in fact, offenders are people characterized by low self-control. That is why, according to Hirschi, our present criminal justice system can never control crime effectively. For one thing, going to jail is too uncertain (most crimes go unpunished) and too far removed in time (catching, trying, and jailing criminals often takes a year or more) to deter the typical offender. Thus, Hirschi explains, popular calls for "stiffer sentences" actually have little effect in suppressing crime. Moreover, by the time many offenders are sent to prison, they are moving beyond the "crime years" simply because they are growing older. Statistically speaking, then, offenders aging in prison represent a crime threat already shrinking on its own. Therefore, rather than locking up adults, Hirschi argues that society needs to focus on younger people before they commit crimes. /similar to the new approach in New York City, Hirschi's approach calls for closer attention to teenagers - those at highest risk for criminal behavior. Effective crime control depends on devising policies to keep teens away not only from guns and drugs, but also alcohol and, if necessary, cars. Ultimately, though, the most effective way to control crime, Hirschi concludes, is to teach children self-control . This is a reasonability that falls upon parents. Government can help, however, by intervening in dysfunctional families and by developing strategies that help build strong-preferably two parent- families. Eliminating pregnancy among teenage girls would do far more to reduce crime, Hirschi contends, than all the actions of today's criminal justice system. QUESTIONS 1. Do you thing we need more prisons? Is that an effective way to deal with the crime problem? What else might be done? 2. Hirschi's recommendations are controversial because he opposes the popular practice of building more prisons. What do you thing? 3. If we don't lock up today's offenders swiftly and surely, how can we satisfy society's demand for retribution? 4. Do you think that New York City's new crime approach and Hirschi's suggestions attack the broader conditions that breed crime, such as poverty, racial prejudice, and weak families? Why or why not? 5. Does lethal injection illustrate the "medicalization of death"? How or how not? 6. Does lethal injection "sugar coat" capital punishment by making suffering less apparent? Is lethal injection more humane? Why or why not?

Lynch Company manufactures and sells a single product. The following costs were incurred during the company's first year of operation:

Variable costs per unit:

Manufacturing:

Direct Materials $11

Direct Labor $5

Variable manufacturing overhead $2

Fixed costs per year:

Fixed manufacturing overhead $350,000

Fixed selling and administration $260,000

During the year, the company produced 35,000 units and sold 25,000 units. The selling price of the company's product is $46 per unit.

I got the first part correct, I just can't figure out the seconds part.

2. Assume that the company uses variable costing:

a. Compute the unit product cost. Unit product cost is $18

2b.

Lynch Company

Variable Costing Income Statement

Sales

Variable expenses:

Variable cost of goods sold (correct) $???????

Not sure what to choose next. The options are as followed: Advertising, Beginning merchandise inventory, Commissinos, Depreciation, Ending merchandise inventory, Fixed manufacturing overhead, Fixed selling and administration expense, Indirect labor, Indirect materials, Purchases, Sales, Selling and administration expenses, Variable cost of goods sold, Variable selling and administration expense.

next is contribution margin

Fixed expenses:

Fixed manufacturing overhead

Fixed selling and administrationi expense

Not sure if anything else belongs.

Net operating income.

Using C language

0. (3pts.)
Using opendir() and readdir(), open the current directory and output all filenames until there are no more. Include a main that does this below.

1. (4pts.)
Parse the dirent struct to see if an entry is a directory or a file. If it is a directory, prepend "./" to the filename before printing it out. Include a main that does this below.

2. (3pts.)
Open a file handle to each file, use lseek to determine the file's size in bytes and print out the file's size in bytes next to its name. Include a main that does this below.

EX. (3pts.)
Add a color formatting element. Print out executable binaries in bold red, regular files in light green, directories in light blue and anything else in white. Be careful - changing the console printout color is a durable operation that is global in scope, so once you change the color, anything printed from anywhere in your Process will be in in that color. It is a good practice to always presume the color is incorrectly set before you print and to set it to what you want before you print anywhere (especially in informational or error outputs). You will also need to find a way to determine if a file is executable or not

A mortgage bond with face value of $10,000 has a bond interest rate of 8% per year payable quarterly. What is the amount of the bond interest (I) or interest payment every quarter?

your uncle promise to give you $600.00 per quarter for the next five years. How much is his promise worth right now if the interest rate is 0.07 compounded quaterly?