Not all water produced by suppliers is sold to customers. Some is used for other purposes and some is not paid for. Other amounts are "lost". What are those other purposes? Why might some water not be paid for? How does a utility lose water?
Hint: research the term Unaccounted for Water and use your findings to answer the three questions above. A good place to start is Water and Revenue Losses by Lynn P. Wallace, American Water Works Foundation, Dec. 1987.
In: Civil Engineering
Create a cash flow statement for Whatchamacallit Corp. using the indirect method from the following information:
2018 2019
Accounts Payable $123,000 $47,000
Accounts Receivable $450,000 $330,000
Bonds Payable $80,000 $100,000
Buildings $672,000 $447,000
Common Stock $250,000 $310,000
Inventory $325,000 $485,000
Land $428,000 $553,000
Prepaid Insurance $72,000 $63,000
Unearned Revenue $210,000 $65,000
Beginning Cash = $82,000
Depreciation Expense = $56,000
Net Income = $260,000
In: Accounting
Brief Exercise 4-5
Bramble Corporation had income from operations of $6,285,800. In addition, it suffered an unusual and infrequent pretax loss of $781,200 from a volcano eruption, interest revenue of $15,910, and a write-down on buildings of $50,000. The corporation’s tax rate is 30%. Prepare a partial income statement for Bramble beginning with Income from operations. The corporation had 4,961,500 shares of common stock outstanding during 2017. (Round earnings per share to 2 decimal places, e.g. 1.48.)
In: Accounting
Doyle Company issued $390,000 of 10-year, 9 percent bonds on January 1, 2018. The bonds were issued at face value. Interest is payable in cash on December 31 of each year. Doyle immediately invested the proceeds from the bond issue in land. The land was leased for an annual $56,500 of cash revenue, which was collected on December 31 of each year, beginning December 31, 2018.
A) Prepare the income statement, balance sheet, and statement of cash flows for 2018 and 2019.
In: Accounting
The Draper Company Records these journal entries:
Purchase of equipment; signed a 5-year note payable $27
Accrued Wages Payable $12
Earned portion of Unearned Revenue $16
Required: Indicate the net effect of these journal entries on the following items. Indicate the dollar amount of the effect and the direction of the effect. (Example: $13 Increase, or $8 Decrease, or NO EFFECT)
a) Net Income $_______________ b) Total Assets $_______________ c) Total Liabilities $_______________
d) Retained Earnings $_______________ e) Total Equity $_______________ f) Working Capital $_______________
In: Accounting
Within the Codification, which section is best to review for the recording of transactions?
A. (35) Subsequent measurement
B. (40) Derecogntion
C. (50) Disclosure
D. (25) Recognition
E. None of the above
18. Which of the following is NOT a method to Search the Codification .?
A. Search/Advanced Search features
B. Use of the Master Glossary
C. Search using the historical GAAP (SFAS) designation
D. Browse by Financial Statement Captions: Assets, Liabilities, Revenue, Expenses, etc.
E. All are methods
In: Accounting
A firm is considering entering a market where demand for its product is Q = 100 - P. This demand function implies that the firm’s marginal revenue function is MR = 100 - 2Q. The firm’s total cost of producing the product for that market is TC = 860 + 20Q + Q2 which indicates that its marginal cost function is MC = 20 + 2Q. Calculate the firm’s profit and hence indicate whether or not the firm should enter the market. Also represent your findings on an appropriate graph.
In: Economics
Wheeling-Pittsburgh Steel Company installed a new machine at a cost of $285000. The expected salvage value of this machine was $50000 after 10 years. During this 10 years, the annual revenue was $52000.
In: Finance
The following is a listing of all of the income statement accounts for Mulberry Street Sportswear as they appear on the adjusted trial balance as of December 31.
| Advertising Expense | $12,000 | ||
| Cost of Goods Sold | 89,000 | ||
| Delivery Expense | 6,000 | ||
| Insurance Expense | 1,000 | ||
| Income Tax Expense | 2,000 | ||
| Rent Expense | 12,000 | ||
| Interest Expense | 5,000 | ||
| Sales Revenue | 160,000 | ||
| Sales Discounts | 11,000 | ||
| Sales Returns & Allowances | 19,000 | ||
Required:
In: Accounting
a. The price elasticity of a good is -4.2. What does this mean? What would happen to the total revenue collected if prices were to increase by 10% and explain your answer.
b. The income elasticity of a good is 0.25. What does this mean? What can we conclude about this good and explain how you came to this conclusion?
c. The cross-price elasticity of a good is -1.5. What does this mean? What can we conclude about this good and explain how you came to this conclusion?
In: Economics