Cody Roberts: DOB 2/1/80, Male, 6’0”, 190 lbs, BMI 25.8, Active, Non-Smoker, Non-Vegetarian
Food Journal
iProfile Report(s) Used
Question
In: Nursing
I have to complete all //to do comments for the following code:
| /** | |
| * A ShoppingBasket holds zero or more Products and can provide information | |
| * about the Products. One can add Products to a ShoppingBasket during its | |
| * lifetime, reset the ShoppingBasket, create a copy which contains Products of | |
| * at least a certain value, and make various queries to the ShoppingBasket. | |
| * (Thus, the number of Products that will be stored by a ShoppingBasket object | |
| * is not yet known when the new object is created, and it may grow and shrink | |
| * over the lifetime of a ShoppingBasket object.) | |
| * | |
| * @author Carsten Fuhs | |
| */ | |
| public class ShoppingBasket { | |
| // TO DO instance variables | |
| /* Constructors */ | |
| /** | |
| * Constructs a new ShoppingBasket without any Products. | |
| */ | |
| public ShoppingBasket() { | |
| // TO DO | |
| } | |
| /** | |
| * Constructs a new ShoppingBasket containing the non-null Products in | |
| * products. The products array may be modified by the caller afterwards | |
| * without affecting this ShoppingBasket, and it will not be modified by | |
| * this constructor. | |
| * | |
| * @param products must not be null; non-null elements are added to the | |
| * constructed ShoppingBasket | |
| */ | |
| public ShoppingBasket(Product[] products) { | |
| // TO DO | |
| } | |
| /* Modifiers */ | |
| /** | |
| * Adds a Product e to this ShoppingBasket if e is not null; does not | |
| * modify this ShoppingBasket otherwise. Returns true if e is not null, | |
| * false otherwise. | |
| * | |
| * @param e an product to be added to this ShoppingBasket | |
| * @return true if e is not null, false otherwise | |
| */ | |
| public boolean add(Product e) { | |
| // TO DO | |
| return false; | |
| } | |
| /** | |
| * Adds all non-null Products in products to this ShoppingBasket. | |
| * | |
| * @param products contains the Product objects to be added to | |
| * this ShoppingBasket; must not be null (but may contain null) | |
| * @return true if at least one element of products is non-null; | |
| * false otherwise | |
| */ | |
| public boolean addAll(Product[] products) { | |
| // TO DO | |
| return false; | |
| } | |
| /** | |
| * Removes certain Products from this ShoppingBasket. Exactly those | |
| * Products are kept whose price in pence is greater than or equal to the | |
| * specified minimum price in pence. | |
| * | |
| * @param minProductPriceInPence the minimum price in pence for the | |
| * Products that are kept | |
| */ | |
| public void keepOnlyProductsWith(long minProductPriceInPence) { | |
| // TO DO | |
| } | |
| /* Accessors */ | |
| /** | |
| * Returns the number of non-null Products in this ShoppingBasket. | |
| * | |
| * @return the number of non-null Products in this ShoppingBasket | |
| */ |
In: Computer Science
Problem 13-10 Subsequent events; classification of debt; loss contingency; financial statement effects [LO13-4, 13-5]
Van Rushing Hunting Goods’ fiscal year ends on December 31. At
the end of the 2018 fiscal year, the company had notes payable of
$12 million due on February 8, 2019. Rushing sold 2 million shares
of its $0.25 par, common stock on February 3, 2019, for $9 million.
The proceeds from that sale along with $3 million from the
maturation of some 3-month CDs were used to pay the notes payable
on February 8.
Through his attorney, one of Rushing’s construction workers
notified management on January 5, 2019, that he planned to sue the
company for $1 million related to a work-site injury on December
20, 2018. As of December 31, 2018, management had been unaware of
the injury, but reached an agreement on February 23, 2019, to
settle the matter by paying the employee’s medical bills of
$75,000.
Rushing’s financial statements were finalized on March 3,
2019.
Required:
1. What amount(s) if any, related to the
situations described should Rushing report among current
liabilities in its balance sheet at December 31, 2018?
2. What amount(s) if any, related to the
situations described should Rushing report among long-term
liabilities in its balance sheet at December 31, 2018?
3. What amount(s) if any, related to the
situations described should Rushing report among current
liabilities and long-term liabilities in its balance sheet at
December 31, 2018 if the settlement agreement had occurred on March
15, 2019, instead?
4. What amount(s) if any, related to the
situations described should Rushing report among current
liabilities and long-term liabilities in its balance sheet at
December 31, 2018 if the work-site injury had occurred on January
3, 2019, instead?
In: Accounting
On December 31, 2017, Dow Steel Corporation had 670,000 shares
of common stock and 37,000 shares of 7%, noncumulative,
nonconvertible preferred stock issued and outstanding. Dow issued a
4% common stock dividend on May 15 and paid cash dividends of
$470,000 and $76,000 to common and preferred shareholders,
respectively, on December 15, 2018.
On February 28, 2018, Dow sold 51,000 common shares. Also, as a
part of a 2017 agreement for the acquisition of Merrill Cable
Company, another 30,000 shares (already adjusted for the stock
dividend) are to be issued to former Merrill shareholders on
December 31, 2019, if Merrill's 2019 net income is at least
$570,000. In 2018, Merrill's net income was $700,000.
In keeping with its long-term share repurchase plan, 4,000 shares
were retired on July 1. Dow's net income for the year ended
December 31, 2018, was $2,450,000. The income tax rate is
40%.
As part of an incentive compensation plan, Dow granted incentive
stock options to division managers at December 31 of the current
and each of the previous two years. Each option permits its holder
to buy one share of common stock at an exercise price equal to
market value at the date of grant and can be exercised one year
from that date. Information concerning the number of options
granted and common share prices follows:
|
Date Granted |
Options Granted |
Share Price |
||||
|
(adjusted for the stock dividend) |
||||||
|
December 31, 2016 |
14,000 |
$ |
20 |
|||
|
December 31, 2017 |
9,000 |
$ |
29 |
|||
|
December 31, 2018 |
12,500 |
$ |
28 |
|||
The market price of the common stock averaged $28 per share during
2018.
On July 12, 2016, Dow issued $500,000 of convertible 10% bonds at
face value. Each $1,000 bond is convertible into 62 common shares
(adjusted for the stock dividend).
Required:
Compute Dow's basic and diluted earnings per share for the year
ended December 31, 2018. (Enter your answers in
thousands.)
In: Finance
Sunland Ltd. purchased a new machine on April 4, 2014, at a cost of $187,360. The company estimated that the machine would have a residual value of $16,000. The machine is expected to be used for 10,200 working hours during its four-year life. Actual machine usage was 1,400 hours in 2014; 2,000 hours in 2015; 2,400 hours in 2016; 2,300 hours in 2017; and 2,100 hours in 2018. Sunland has a December 31 year end.
Calculate depreciation for the machine under each of the
following methods: (Round expense per unit to 2 decimal
places, e.g. 2.75 and final answers to 0 decimal places, e.g.
5,275.)
(1) Straight-line for 2014 through to 2018.
| 2014 expense | |||
|---|---|---|---|
| 2015 expense | |||
| 2016 expense | |||
| 2017 expense | |||
| 2018 expense |
(2) Diminishing-balance using double the
straight-line rate for 2014 through to 2018.
| 2014 expense | |||
|---|---|---|---|
| 2015 expense | |||
| 2016 expense | |||
| 2017 expense | |||
| 2018 expense |
(3) Units-of-production for 2014 through to
2018.
| 2014 expense | |||
|---|---|---|---|
| 2015 expense | |||
| 2016 expense | |||
| 2017 expense | |||
| 2018 expense |
Which method results in the highest depreciation expense over
the life of the asset? Highest net income? Highest cash flow?
select a method that results in the highest depreciation expense
over the life of the asset
Straight-line method or Diminishing-balance methods or Units-of-production method or All three methods are the same or No Impact
Which method results in the highest net income?
select a method that results in the highest net income
Straight-line method or Diminishing-balance methods or Units-of-production method or All three methods are the same or No Impact
Which method results in the highest cash flow?
select a method that results in the highest cash flow
Straight-line method or Diminishing-balance methods or Units-of-production method or All three methods are the same or No Impact
In: Accounting
Yoshi Company completed the following transactions and events involving its delivery trucks.
2016
| Jan. | 1 | Paid $23,515 cash plus $1,785 in sales tax for a new delivery truck estimated to have a five-year life and a $2,150 salvage value. Delivery truck costs are recorded in the Trucks account. | ||
| Dec. | 31 | Recorded annual straight-line depreciation on the truck. |
2017
| Dec. | 31 | Due to new information obtained earlier in the year, the truck’s estimated useful life was changed from five to four years, and the estimated salvage value was increased to $2,700. Recorded annual straight-line depreciation on the truck. |
2018
| Dec. | 31 | Recorded annual straight-line depreciation on the truck. | ||
| Dec. | 31 | Sold the truck for $5,400 cash. |
Required:
1-a. Calculate depreciation for year
2017.
1-b. Calculate book value and gain (loss) for sale
of Truck on December, 2018.
1-c. Prepare journal entries to record these
transactions and events.
|
|
1-Record the total cost of the new delivery truck.
2-Record the year-end adjusting entry for the depreciation expense of the delivery truck.DEC 31,2016
3-Record the year-end adjusting entry for the depreciation expense of the delivery truck.DEC 31,2017
4-Record the year-end adjusting entry for the depreciation expense of the delivery truck. DEC 31,2018
5-Record the sale of the delivery truck for $5,400 cash.
|
In: Accounting
Melody Lane Music Company was started by John Ross early in 2018. Initial capital was acquired by issuing shares of common stock to various investors and by obtaining a bank loan. The company operates a retail store that sells records, tapes, and compact discs. Business was so good during the first year of operations that John is considering opening a second store on the other side of town. The funds necessary for expansion will come from a new bank loan. In order to approve the loan, the bank requires financial statements. John asks for your help in preparing the balance sheet and presents you with the following information for the year ending December 31, 2018: Cash receipts consisted of the following: From customers $ 431,750 From issue of common stock 145,000 From bank loan 118,000 Cash disbursements were as follows: Purchase of inventory $ 309,000 Rent 45,000 Salaries 39,000 Utilities 14,000 Insurance 12,000 Purchase of equipment and furniture 49,000 The bank loan was made on March 31, 2018. A note was signed requiring payment of interest and principal on March 31, 2019. The interest rate is 10%. The equipment and furniture were purchased on January 3, 2018, and have an estimated useful life of 10 years with no anticipated salvage value. Depreciation per year is $4,900. Inventories on hand at the end of the year cost $109,000. Amounts owed at December 31, 2018, were as follows: To suppliers of inventory $ 29,000 To the utility company 3,000 Rent on the store building is $3,000 per month. On December 1, 2018, four months' rent was paid in advance. Net income for the year was $85,000. Assume that the company is not subject to federal, state, or local income tax. Two hundred thousand shares of no par common stock are authorized, of which 29,000 shares were issued and are outstanding. Required: Prepare a balance sheet at December 31, 2018. (Amounts to be deducted should be indicated by a minus sign.)
In: Accounting
On June 30, 2017, Crane Company issued $3,800,000 face value of 13%, 20-year bonds at $4,085,872, a yield of 12%. Crane uses the effective-interest method to amortize bond premium or discount. The bonds pay semiannual interest on June 30 and December 31. Prepare the journal entries to record the following transactions. (Round answer to 0 decimal places, e.g. 38,548. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually.)
a.(1) The issuance of the bonds on June 30, 2017. (2) The payment of interest and the amortization of the premium on December 31, 2017. (3) The payment of interest and the amortization of the premium on June 30, 2018. (4) The payment of interest and the amortization of the premium on December 31, 2018.
b. Show the proper balance sheet presentation for the liability for bonds payable on the December 31, 2018, balance sheet. (Round answers to 0 decimal places, e.g. 38,548.)
c. Provide the answers to the following questions. (1) What amount of interest expense is reported for 2018? (Round answer to 0 decimal places, e.g. 38,548.) Interest expense reported for 2018 $ (2) Will the bond interest expense reported in 2018 be the same as, greater than, or less than the amount that would be reported if the straight-line method of amortization were used? The bond interest expense reported in 2018 will be the amount that would be reported if the straight-line method of amortization were used. (3) Determine the total cost of borrowing over the life of the bond. (Round answer to 0 decimal places, e.g. 38,548.) Total cost of borrowing over the life of the bond $ (4) Will the total bond interest expense for the life of the bond be greater than, the same as, or less than the total interest expense if the straight-line method of amortization were used? The total bond interest expense for the life of the bond will be the total interest expense if the straight-line method of amortization were used.
In: Accounting
On December 31, 2017, Dow Steel Corporation had 620,000 shares
of common stock and 32,000 shares of 10%, noncumulative,
nonconvertible preferred stock issued and outstanding. Dow issued a
5% common stock dividend on May 15 and paid cash dividends of
$420,000 and $71,000 to common and preferred shareholders,
respectively, on December 15, 2018.
On February 28, 2018, Dow sold 64,000 common shares. Also, as a
part of a 2017 agreement for the acquisition of Merrill Cable
Company, another 20,000 shares (already adjusted for the stock
dividend) are to be issued to former Merrill shareholders on
December 31, 2019, if Merrill's 2019 net income is at least
$520,000. In 2018, Merrill's net income was $650,000.
In keeping with its long-term share repurchase plan, 4,000 shares
were retired on July 1. Dow's net income for the year ended
December 31, 2018, was $2,200,000. The income tax rate is 40%.
As part of an incentive compensation plan, Dow granted incentive stock options to division managers at December 31 of the current and each of the previous two years. Each option permits its holder to buy one share of common stock at an exercise price equal to market value at the date of grant and can be exercised one year from that date. Information concerning the number of options granted and common share prices follows:
| Date Granted | Options Granted | Share Price | ||||
| (adjusted for the stock dividend) | ||||||
| December 31, 2016 | 9,000 | $ | 16 | |||
| December 31, 2017 | 4,000 | $ | 25 | |||
| December 31, 2018 | 7,500 | $ | 24 | |||
The market price of the common stock averaged $24 per share during
2018.
On July 12, 2016, Dow issued $600,000 of convertible 10% bonds at
face value. Each $1,000 bond is convertible into 35 common shares
(adjusted for the stock dividend).
Required:
Compute Dow's basic and diluted earnings per share for the year
ended December 31, 2018. (Enter your answers in
thousands.)
In: Accounting
Suffi Bhd is a distributor of electrical appliances and operates in central area of Selangor. The company closes its account on every 31 December. The following information is related to the equity and debt investments of Suffi Bhd: Date Transactions 5 January 2018 Suffi Bhd purchased RM5,000,000 of 12% bonds for RM5,250,000. The bonds provide the bondholders with a yield of 11% market rate. The interest is paid at the end of the year. The company holds the bonds to collect contractual cash flows. 30 September 2018 Suffi Bhd acquired 20,000 shares of Gemilang Bhd at RM3.50 per share and the transaction cost incurred was RM8,500. Suffi Bhd intended to sell the shares of Gemilang Bhd in the middle of 2019 to take advantage of the changes in the share prices. 7 October 2018 Suffi Bhd acquired 30,000 shares of Harmoni Bhd at RM2.00 per share. The brokerage fee incurred was RM6,000. Kukuh Bhd intended to establish these shares as a long term investment. 15 June 2019 Suffi Bhd sold 50% shares of Gemilang Bhd at the selling price of RM4.00 per share. Additional information: 1. At the end of 2018, Suffi Bhd received a cash dividend of RM0.40 per unit of its investment in shares of Harmoni Bhd on 31 December 2018. 2. The market values of the equity investments on 31 December 2018 are as follows: Investment Market value per share Gemilang Bhd RM4.15 Harmoni Bhd RM2.50
REQUIRED:
(a) Prepare the related journal entries of the debt investment for the year 2018.
(b) Prepare journal entries to record the purchase, the fair value adjustment and the selling of investment in Gemilang Bhd.
(c) Prepare journal entries to record the purchase, the dividend received and the fair value adjustment of investment in Harmoni Bhd.
(d) Explain FOUR (4) reasons why companies can use the financial assets to sustain the business during the COVID-19 pandemic.
In: Accounting