Questions
Ryan Terlecki organized a new Internet company, CapUniverse, Inc

P3-2 (Algo) Recording Journal Entries LO3-4

Ryan Terlecki organized a new Internet company, CapUniverse, Inc. The company specializes in baseball-type caps with logos printed on them. Ryan, who is never without a cap, believes that his target market is college and high school students. You have been hired to record the transactions occurring in the first month of operations.

  1. Issued 3,000 shares of $0.01 par value common stock to investors for cash at $30 per share.

  2. Borrowed $66,000 from the bank to provide additional funding to begin operations; the note is due in two years.

  3. Paid $2,400 cash for rent of a warehouse: $1,200 for the current month’s rent and another $1,200 for next month’s rent.

  4. Paid $2,280 for a one-year fire insurance policy on the warehouse (recorded as a prepaid expense).

  5. Purchased furniture and fixtures for the warehouse for $11,000, paying $2,700 cash and the rest on account. The amount is due within 30 days.

  6. Purchased for $3,300 cash The University of Pennsylvania, Notre Dame, The University of Texas at Austin, The Ohio State University, and Michigan State University baseball caps as inventory to sell online.

  7. Placed advertisements on Google for a total of $310 cash; the ads were run immediately.

  8. Sold caps totaling $2,000, half of which was charged on account. The cost of the caps sold was $1,200. (Hint: Make two entries.)

  9. Made full payment for the furniture and fixtures purchased on account in (e).

  10. Received $240 from a customer on account.


Required:
Prepare journal entries for each transaction. Note that transaction (h) will require two entries, one for revenue and one for the related expense. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)

In: Accounting

Ken is 63 years old and unmarried. He retired at age 55 when he sold his...

Ken is 63 years old and unmarried. He retired at age 55 when he sold his business, Understock.com. Though Ken is retired, he is still very active. Ken reported the following financial information this year. Assume Ken files as a single taxpayer. Ken won $1,200 in an illegal game of poker (the game was played in Utah, where gambling is illegal). Ken sold 1,000 shares of stock for $32 a share. He inherited the stock two years ago. His tax basis (or investment) in the stock was $31 per share. Ken received $25,000 from an annuity he purchased eight years ago. He purchased the annuity, to be paid annually for 20 years, for $210,000. Ken received $13,000 in disability benefits for the year. He purchased the disability insurance policy last year. Ken decided to go back to school to learn about European history. He received a $500 cash scholarship to attend. He used $300 to pay for his books and tuition, and he applied the rest toward his new car payment. Ken’s son, Mike, instructed his employer to make half of his final paycheck of the year payable to Ken as a gift from Mike to Ken. Ken received the check on December 30 in the amount of $1,100. Ken received a $610 refund of the $3,600 in state income taxes his employer withheld from his pay last year. Ken claimed $12,050 in itemized deductions last year (the standard deduction for a single filer was $12,000). Ken received $30,000 of interest from corporate bonds and money market accounts.

Complete page 2 of Form 1040, Line 1-6 and Form 1040, Schedule 1, Lines 1-22 for Ken.

In: Accounting

Ken is 63 years old and unmarried. He retired at age 55 when he sold his...

Ken is 63 years old and unmarried. He retired at age 55 when he sold his business, Understock.com. Though Ken is retired, he is still very active. Ken reported the following financial information this year. Assume Ken files as a single taxpayer.

  1. Ken won $1,200 in an illegal game of poker (the game was played in Utah, where gambling is illegal).
  2. Ken sold 1,000 shares of stock for $32 a share. He inherited the stock two years ago. His tax basis (or investment) in the stock was $31 per share.
  3. Ken received $25,000 from an annuity he purchased eight years ago. He purchased the annuity, to be paid annually for 20 years, for $210,000.
  4. Ken received $13,000 in disability benefits for the year. He purchased the disability insurance policy last year.
  5. Ken decided to go back to school to learn about European history. He received a $500 cash scholarship to attend. He used $300 to pay for his books and tuition, and he applied the rest toward his new car payment.
  6. Ken’s son, Mike, instructed his employer to make half of his final paycheck of the year payable to Ken as a gift from Mike to Ken. Ken received the check on December 30 in the amount of $1,100.
  7. Ken received a $610 refund of the $3,600 in state income taxes his employer withheld from his pay last year. Ken claimed $12,250 in itemized deductions last year (the standard deduction for a single filer was $12,200).
  8. Ken received $30,000 of interest from corporate bonds and money market accounts.

Comprehensive Problem 5-75 Part 2 (Static)

Complete page 1 of Form 1040, Line 1-7b and Form 1040, Schedule 1, Lines 1-9 for Ken.

In: Accounting

A nurse is assessing a client after administering phenytoin IV bolus for a seizure. Which of...

A nurse is assessing a client after administering phenytoin IV bolus for a seizure. Which of the following should the nurse identify as an adverse effect of this medication?
A.   Hypoglycemia
B.   Red man syndrome
C.   Bradycardia
D.   Hypotension

66.   A nurse is planning to administer medication to an older adult client who has dysphagia. Which of the following actions should the nurse plan to take?
A.   Tilt the client’s head back when administering the medications
B.   Administer more than one pill to the client at a time
C.   Mix the medication with a semisolid food for the client
D.   Place the medications on the back of the client’s tongue

68.   A nurse is caring for a client who is in shock and is receiving an infusion of albumin. Which of the following findings should the nurse expect?
A.   Oxygen saturation 96%
B.   PaCO2 30 mm Hg
C.   Decrease in protein
D.   Increased in BP

19. A nurse is administering 4 mg of hydromorphone to a client by mouth every 4 hr. The medication is provided as hydromorphone 8 mg per tablet. Which of the following actions is appropriate for the nurse to take?
a.   Store the remaining half of the pill in the automated medication dispensing system
b.   Place the remaining half of the pill in the unit-dose package
c.   Dispose of the remaining medication while another nurse observes
d.   Return the remaining medication to the facility’s pharmacy

6.   A nurse is teaching a guardian of a school-age child who has a new prescription for a fluticasone metered-dose inhaler. Which of the following information should the nurse include in the teaching? (Select all that apply)
   “Rinse your child mouth following administration”
   “Soak the inhaler in water after use”
   “Have your child take one inhalation as needed for shortness of breath”
   “Shake the device prior to administration”
   “ A spacer will make it easier to use the device”

In: Nursing

Assignment Details Framing the Issue It is important to know that there are at least two...

Assignment Details

Framing the Issue

It is important to know that there are at least two sides to every issue. Each side (opinion) should be based on facts that are supported with convincing, reasonable evidence that is credible and current. Before you form an opinion, consider the pros and cons of the issue. Doing this can strengthen your position on the issue—or it can result in a change of opinion on the issue.

For this week’s discussion, complete the following:

  1. Choose 1 of the issues in the list below, or you can select any topic you like. If you choose your own topic, make sure the topic is appropriate for an argumentative essay and related to an issue that will hold your interest when you return to the essay in the coming weeks. A good source for this would be current events. Please e-mail your instructor for approval first, and remember academic research methods still apply.
  2. Read 1 article on your topic from the list provided in the Topic Bibliography.
  3. Express your opinion about the issue in 1 sentence.
  4. Use the article you selected to write a paragraph to support your opinion, and be sure to cite it in your response.

Issues to Choose From

  • Is TV a leftover media source from the past that will soon be outdated, or is TV keeping up with the times and attracting new viewers?
  • How is social media affecting young adults, parents, or teens for better or worse?
  • Should high school students be required to take a civics course as a graduation requirement?
  • Should journalists try to be objective to regain the public’s confidence?
  • Do charter schools hurt traditional public schools?
  • Are drug courts the solution to addressing nonviolent drug offenders?
  • Should forensic techniques require federal approval for use in court?
  • Should the U.S. government provide universal health care?
  • Do video games portray positive or negative gender stereotypes?

In: Economics

Bina Memories                 Bina Memories is a small family photography business. The business has a good...

Bina Memories

                Bina Memories is a small family photography business. The business has a good reputation for high-quality photos and enjoys long-standing arrangements with many schools for the provision of school photos. Bina Memories has traditionally used a small accounting package to manage its operations, with Make Your Business Profitable ‘MYBP’ being the package currently in use. Recently, however, a few of the staff in the administration team have complained that MYBP has become slow in processing transactions. The computer that runs the program is also fast approaching its capacity, having not been updated for several years and now also handling some of the business’s digital image requirements.

                As a result of the strained system, Bina Memories is considering the possibility of an upgrade. However, it is concerned that should it go ahead with an upgrade, it would have to employ a programmer to develop its new system, as well as a full-time IT specialist to keep the system running. It is also unsure of what needs to be done in managing the systems development process.

One of the things particularly troubling Mr. Cotton, the part-owner of Bina Memories, is the possibility of investing capital now and having to do it again in a couple of years’ time as technology changes. However, he does not mind spending a large sum now if the system is a long term answer, since as Cotton himself said, ‘Once the system is acquired then the business can get back to normal and do what it does best – take photos – without having to spend money on IT.’

In light of the details you have about Encosta Memories, prepare for a discussion in relation to the following questions:

(a) How correct is Cotton’s statement that: ‘Once the system is acquired then the business can get back to normal and do what it does best — take photos — without having to spend money on IT’? Explain your reasoning.

In: Accounting

I need to determine the legal issue for the following... I am focusing on consideration, capacity...

I need to determine the legal issue for the following... I am focusing on consideration, capacity and disafiemance but am confused on the termonolgy

Stacey Smith owns a lot in the hills of Pennsylvania and wants to build a house according to a particular set of plans and specifications. She solicits bids from bidding contractors and receives 3 bids: one from Carlton for $260,000 and one from Feldberg for $258,000 and one from Siegel for $253,000. She accepts Siegel’s bid, paying him in advance of his work. One month after beginning construction of the house, Siegel contacts Smith and tells her that because of inflation and a recent price hike for materials, he will not complete the construction unless Smith agrees to pay an extra $13,000. Smith reluctantly agrees to pay the additional sum. 4 months later Smith has an unfortunate accident resulting in her death. Tom, her sole survivor and her very mature and intelligent 17 year old son, who graduated from high school early and is a Senior in College, where he has completed his business law class, wants to continue live in the new home under construction, but wants to turn the property into a horse breeding ranch and build a 16 unit stable. He contacts Siegel who learns that Tom is about to graduate from college. As Siegel prepares the contract for Tom, he asks, “You are old enough to do this right?” Tom agrees he is a senior in college and signs an additional contract for the completion of a 16 unit stable for $65,000. A year later both projects are completed and Siegel asks for his final payment of $78,000. When Tom pays only $2,000, Siegel sues Tom and Stacey’s estate for the remaining $76,000.

In: Operations Management

A 25-year-old young woman is brought to the emergency department by the police after being found...

A 25-year-old young woman is brought to the emergency department by the police after being found walking in traffic at a busy city intersection. The police place her on an involuntary commitment after she states that she was instructed to kill herself by accusatory, commanding voices. On examination the patient appears disheveled, with an indifferent and flat affect, and disorganized thought processes. She answers most questions monosyllabically. When questioned about experiencing auditory hallucinations she answers in the affirmative, but she is unable to articulate coherently the details of her experience. Throughout the examinations she appears intermittently distracted by internal stimuli; when asked what her experience is in the moment, she states: "They are talking to me." The patient's family reports that she became increasingly withdrawn after she moved away from home to attend graduate studies at a local university. The family reports that her academic performance in college was above average, but since starting university she has struggled to complete her school work. Since moving, she has also become more isolative: she made no new friends, stopped talking to her college friends, and maintained only sporadic contact with her family. The family was unaware of the patient experiencing any hallucinatory experiences. She had no past history of drug misuse and her urine toxicology screen was negative, effectively ruling out a drug-induced psychosis.

QUESTIONS:

1. What could have possibly triggered this young woman's episode?

2a. What are two differential or possible diagnoses for her?

2b. Briefly explain each of these possible diagnoses.

3. What are the evidences which have informed each of the two possible diagnoses you listed in #2?

4. What is this young woman's actual diagnoses, and explain possible treatment options

In: Psychology

John is in his mid-60s and is not married. At the age 55 he retired and...

John is in his mid-60s and is not married. At the age 55 he retired and sold his business, Buymore.com. Though John is retired, he is a very active person. John reported the following information about his financial activity this year.

1.      John won $1,200 in an illegal game of poker (the game was played in Utah, where gambling is illegal).

2.      John sold 1,000 shares of stock for $32 a share. He inherited the stock two years ago. His tax basis (or investment) in the stock was $31 per share.

3.      John received $25,000 from an annuity he purchased eight years ago. He purchased the annuity, to be paid annually for 20 years, for $210,000.

4.      John received $13,000 in disability benefits for the year. He purchased the disability insurance policy last year.

5.      John decided to go back to school to learn about European history. He received a $500 cash scholarship to attend. He used $300 to pay for his books and tuition, and he applied the rest toward his new car payment.

6.      John’s son, Mike, instructed his employer to make half of his final paycheck of the year payable to John as a gift from Mike to John. John received the check on December 30 in the amount of $1,100.

7.      John received a $610 refund of the $3,600 in state income taxes his employer withheld from his pay last year. John claimed $6,350 in itemized deductions last year (the standard deduction for a single filer was 6,300).

8.      John received $30,000 of interest from corporate bonds and money market accounts.

Required: determine John’s gross income and complete page 1 of Form 1040 for John (forms can be downloaded from the IRS website).

In: Accounting

1- A student at UHD heard the following statement made about the Business Cornerstone class. "Oh...

1- A student at UHD heard the following statement made about the Business Cornerstone class. "Oh no!--that teacher is BORING!" Susie realized that this statement does not meet the intellectual standard of __________ and asked more questions before making her mind up about taking that teacher.

accuracy

significance

precision

relevance

2- Based on the information you learned in Blackboard on resumes, you should only go back approximately 10 years in listing jobs on your resume.

True

False

3- All reasoning is based on data and information. Which of the following statements are characteristics of skilled thinkers (critical thinkers) with respect to using information and data?

Skilled thinkers do not distinguish between relevant and irrelevant information  

Skilled thinkers draw conclusions supported by accurate information and data

Skilled thinkers gather information that only supports their point of view.

a and b

b and c

4- "No one objects to a physician looking up a difficult case in medical books. Why, then, shouldn't medical students taking a difficult examination be permitted to use their textbooks?"
What fallacy is being committed?

a.

False Analogy

b.

False Dilemma

c.

Straw Man

d.

Post Hoc

e.

Ad Hominem

5- Advertising revenue was falling off for my college newspaper,the Stetson Reporter, and large numbers of long-term advertisers were not renewing contracts. I designed a new promotional packet to go with the rate sheet and compared the benefits of Reporter circulation with other ad media in the area. I also set-up a special training session for the account executives with a School of Business Administration professor who discussed competitive selling strategies.

Based on the information you learned from the Mock Interview in Blackboard, this passage illustrates all the steps the STAR method.

True

False

In: Operations Management