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Let me know if the Adjusted trial balance on December 31, 20X6 is needed to answer...

Let me know if the Adjusted trial balance on December 31, 20X6 is needed to answer the below as I can provide it. Thank you!

Questions 4 through 10 are based on the following December 31, 20X6 year-end account balances for XYZ Co. after adjusting entries had been prepared but before the books were closed for the year.

Cash……………..…………………………….250,000

Accounts receivable…………………….……..680,000

Marketable securities…………………………...60,000

Prepaid insurance……………………………….35,000

Prepaid rent….………………………………….30,000

Office equipment…………………………….....620,000

Accumulated depreciation: equipment………...200,000

Land……………………………………………750,000

Accounts payable………………………………306,000

Dividends payable……………………………… 50,000

Interest payable…………………………………... 8,750

Income tax payable……………………………...30,000

Unearned client service revenue………………..180,000

Notes payable (long-term).……………………..350,000

Common stock………………………………….750,000

Retained earnings….…………………………....315,200

Dividends…………………………………….......75,000

Client service revenue………………………...1,200,000

Travel expense………………………………..…..28,000

Office supplies expense…………………………..20,000

Advertising expense………………………………45,000

Salary expense…………………………………...400,000

Utility expense………………………………….....40,000

Depreciation expense: equipment…………………25,000

Interest expense……………………………….…...17,500

Insurance expense……………………………….....52,000

Rent expense……………………………………..175,000

Income tax expense………………………………..87,450

Using the data for question 4, prepare the income statement for the year ended December 31, 20X6. Attach your response in an excel or word file.

Using the data from Question 4, Prepare the statement of retained earnings for the year ended December 31, 20X6. Attach your response in an excel or word file.

Using the data in Question 4, Prepare the statement of financial position as of December 31, 20X6. Attach your response in an excel or word file.

Using the data in Question 4, Determine the working capital on December 31, 20X6.

a.
$350,756

b.
$480,250

c.
$580,520

d.
$574,750

Using data from Question 4, Determine the current ratio on December 31, 20X6.

a.
1.8356

b.
3.4781

c.
2.8749

d.
1.1355

Based on data from Question 4, Determine the acid-test (quick) ratio on December 31, 20X6.

a.
4.5586

b.
2.5000

c.
1.7225

d.
3.6752

In: Accounting

Use the following information to answer questions 1-5. The Aggie Graphics Company was organized on January...

Use the following information to answer questions 1-5.

The Aggie Graphics Company was organized on January 1, 2017.

The trial balance before adjustment at December 31, 2017 contained the following account balances:

Cash	$9,500
Accounts Receivable	4,000
Prepaid Insurance	1,800
Equipment	45,000
Accumulated Depreciation		4,500
Accounts Payable		3,500
Notes Payable		18,000
Common Stock		5,000
Retained Earnings		12,000
Dividend	2,000
Graphic Fees Earned		52,100
Consulting Fees Earned		5,000
Salaries Expense	30,000
Supplies Expense	2,700
Advertising Expense	1,900
Rent Expense	1,500
Utilities Expense	1,700

	$100,100	$100,100

Analysis reveals the following additional data: (Assume the books are only closed at year end)

(A) The $2,700 balance in Supplies Expense represents supplies purchased in January. At December 31, there was $1,200 of supplies on hand.

(B) The note payable was issued on September 1. It is a 3% 6-month note.

(C) The balance in Prepaid Insurance is the premium paid on a one-year policy, dated March 1, 2017.

(D) Consulting Fees are credited to revenue when received. At December 31, consulting fees of $1,000 contracted for January, 2017 have yet to be performed.

(E) The equipment was purchased on January 1, 2017. It has a 10-year useful life and no salvage value.

The entry to record (A) above would include a debit to: (Assume the company is only making one adjusting entry to record this information)

	A.	Supplies for $1,500
	B.	Supplies for $1,200

	C.	Supply Expense for $1,200
	D.	Prepaid Supply Expense for $2,700

1 points

QUESTION 2

What is the balance in the interest payable account after adjustment?


	A.	$ 45
	B.	$180
	C.	$90
	D.	$270

1 points

QUESTION 3

The correct entry to record (E) above is:

	A.	Depreciation Expense 4,500 Accumulated Depreciation 4,500
	B.	Depreciation Expense 9,000 Accumulated Depreciation 9,000
	C.	Depreciation Expense 9,000 Equipment 9,000
	D.	Depreciation Expense 9,000 Accumulated Depreciation 4,500 Equipment 4,500

In: Accounting

In recent years, professional sports have incorporated the use of instant replay in order to dispute...

In recent years, professional sports have incorporated the use of instant replay in order to dispute questionable calls by the referees. For example, in the National Basketball Association (NBA) a head coach is allowed to challenge the referees’ decision on whether a shot was made before time expired in the game. In order for the referees to reverse their original decision, the instant replay must exhibit clear evidence to the contrary.

Suppose the referees rule that the last shot of the game was made after the clock had expired. The coach of the team that made the shot believes the shot was made before time had expired, and the coach challenges the referees’ decision.

The referees will review all available evidence (video taken from different camera angles) and make a decision. If there is evidence beyond a reasonable doubt that their original call was incorrect, the basket will count. However, if there is no clear evidence to contradict the original call, the basket won’t count.

Notice the similarity between the decision to change a call and the decision to reject the null hypothesis in a hypothesis test. The process involves collecting convincing evidence that the original call or the null hypothesis is not true. The referee only rejects the call if the instant replay exhibits clear evidence to the contrary, just as a researcher only rejects the null hypothesis if the study results provide clear evidence to the contrary. In both cases, not changing the call and not rejecting the null hypothesis doesn’t mean that the original call or the null hypothesis was correct; it means that not enough evidence was provided to the contrary.

To formulate the process as a hypothesis test, the null hypothesis is that the player , and the alternative hypothesis is that the player . The testing procedure then assumes that the player , with a goal of determining whether there is enough evidence to infer that the player .

After the referees review video of all possible camera angles, according to the process of a hypothesis test, what two possible decisions can the referees make? (Hint: Remember that there are two possible decisions from a hypothesis test: you can either reject the null hypothesis or fail to reject the null hypothesis. Rejecting the null hypothesis means you have convincing evidence that the null hypothesis is false and the alternative hypothesis is true. Failing to reject the null means you do not have convincing evidence that the null hypothesis is false.) Check all that apply.

Conclude that the player made the shot after time expired

Conclude that they have convincing evidence to support the hypothesis that the player made the shot before time expired

Conclude that they have convincing evidence to support the hypothesis that the player made the shot after time expired

Conclude that they do not have convincing evidence to support the hypothesis that the player made the shot after time expired

Conclude that they do not have convincing evidence to support the hypothesis that the player made the shot before time expired

A Type I error occurs when you a null hypothesis. In this case, a Type I error corresponds to the referees concluding that they evidence to support the hypothesis that the player when the player actually .

A Type II error occurs when you a null hypothesis. In this case, a Type II error corresponds to the referees concluding that they evidence to support the hypothesis that the player when the player actually .

In: Statistics and Probability

Create a PowerPoint Presentation that includes a capital budget analysis, an interpretation of the analysis, and...

Create a PowerPoint Presentation that includes a capital budget analysis, an interpretation of the analysis, and your recommended strategy for the Deluxe Corporation.

Deluxe Corporation is a large chain of retail stores operating in the USA. It sells top-of the- range, expensive clothes to a wealthy clientele throughout the country. Currently, Deluxe only operates in the USA. Its current market capitalization is $760 million and the current market value of debt is $350 million.

At last month’s management meeting the marketing director explained that sales volume had increased slightly in the previous year, largely due to heavy discounting in most of its stores. The finance director expressed concern that such a strategy might damage the image of the company and reduce profits over the longer term.

An alternative strategy to increase sales volume has recently been proposed by the marketing department. This would involve introducing a new range of clothing specifically aimed at the middle-income market. The new range of clothing would be expected to be attractive to consumers in Canada and Europe.

Assume your represent the financial management of Deluxe and have been asked to evaluate the marketing department’s proposal to introduce a new range of clothing. An initial investigation into the potential markets has been undertaken by a firm of consultants at a cost of $100,000 but this amount has not yet been paid. It is intended to settle the amount due in three months’ time. With the help of a small multi-department team of staff you have estimated the following cash flows for the proposed project:

• The initial investment required would be $46 million: This comprises $30 million for fixed assets and $16 million for net current assets (working capital).

• For accounting purposes, fixed assets are depreciated on a straight line basis over three (3) years after allowing for a residual value of 10%.

• The value of net current assets at the end of the evaluation period can be assumed to be the same as at the start of the period.

• Earnings before taxes are forecast to be $14 million in 2018, $17million in 2019 and $22 million in 2020.

The following information is also relevant:

The proposed project is to be evaluated over a three-year time horizon. The firm uses Net Present Value and Internal Rate of Return methods to evaluate projects.

Deluxe usually evaluates its investments using an after-tax discount rate of 8%. The proposed project is considered to be riskier than average and so a risk-adjusted rate of 9% will be used for this project.

Corporate tax is 25%.

Ignore inflation.

Prepare a Sensitivity Risk Analysis with the following variables: Earnings Before Taxes, Project Discount Rate, and Tax Rate. Your margins of variance are plus/ minus 10%, 20%, 30%.

Your Sensitivity work should include a graph analysis.

***What would you recommend provide capital budget analysis, risk analysis, SWOT analysis, as part of your evaluation.***

In: Finance

Create a presentation that includes a capital budget analysis, an interpretation of the analysis, and your...

Create a presentation that includes a capital budget analysis, an interpretation of the analysis, and your recommended strategy for the Deluxe Corporation.