1. IDENTIFY THREE THINGS THIS NURSE SHOULD HAVE DONE TO BREAK THE CHAIN OF INFECTION; AND NOTE WHERE IN THE CYCLE THESE SHOULD HAVE TAKEN PLACE. (i.e. between the portal of exit and mode of transmission).
In: Nursing
1. What is Labor Economics and Why is it Important?
2. Discuss the three key actors of labor economics. Give Examples.
3. Distinguish between Positive Economics and Normative Economics. Give Examples.
In: Economics
We can classify a company's control procedures into three major types: preventive controls, detective controls, and corrective controls.
What is the difference between prventive controls, detective controls and corrective controls?
In: Accounting
1. Explain the difference between C-3 and C-4 plants in relation to primary carboxylation (carbon fixation)
2. Give three examples of each including the common name and binomial nomenclature.
In: Biology
a) Two methods of measuring economies of scale ( 20 marks)
b) Three factors that determine the degree of market concentration ( 20 marks)
c) The relationship between concentration and market performance ( 20 marks)
In: Economics
The appendix of the textbook provides a grid of Relevant Professional Auditing Standards. Please research three of the given topics and discuss the differences between U.S. auditing standards (PCAOB and AICPA) and international standards (IASB).
In: Accounting
In: Operations Management
Problem 5-41 (Algorithmic)
Absorption Costing vs. Variable Costing: Benefits and Calculation
of Net Operating Income
Safety Shoes, Inc. produces a variety of products for the manufacturing industry. Hiking-style steel toe boots are among its most popular products. The company's controller spoke to the company's president at a meeting last week and told her that the company was doing well, but that the financial picture depended on how product costs and net operating income were calculated. The president did not realize that the company had options with regard to calculating these numbers, so she asked the controller to prepare some information and be ready to meet with her to talk more about this issue. In preparing for the meeting, the controller accumulated the following data:
Beginning inventory 27,000
Units produced 101,000
Units sold 112,000
Fixed manufacturing overhead $380,000
Direct materials per unit $22.00
Direct labor per unit $33.00
Variable manufacturing overhead per unit $15.00
A. Compute the cost per unit, using absorption costing. (Answer is 74)
B. Compute the cost per unit, using variable costing. (Answer is 70)
C. Compute the difference in net operating income between the two methods. If there is no difference in net income, enter "0". Do not round your interim calculations.
D. Assume that production was 101,000 units and sales were 70,000 units. What would be the difference in net operating income between the two methods? If there is no difference in net income, enter "0". Do not round your interim calculations.
In: Accounting
Important: please show work for each question. Thank you!
In a previous section of PSY230, the second exam was worth 80 points. The scores from that class were normally distributed with a mean (μ ) of 65 and a standard deviation (σ) of 5. If the exam scores were converted to a Z distribution, the distribution would form a perfect bell shape. The following questions require locating individual exam scores on the Z distribution and examine the percentage (or proportion) of cases above or below a score.
Hints: It helps to draw a Z distribution (bell curve) and place John’s and Tom’s Z scores on the distribution for answering the questions. Use the Z table for converting between Z score and area (percentage) of the distribution.
In: Statistics and Probability
The Best Clothing Company, a retail corporation, had the following post closing trial balance, December 31, 2016 (in thousands of dollars).
ACCOUNT
NUMBER NAME OF ACCOUNT DEBIT CREDIT
10 CASH 30
20 ACCOUNTS RECEIVABLE 91
34 NOTES RECEIVABLE, CURRENT 100
35 ACCRUED INTEREST RECEIVABLE 16
40 MERCHANDISE INVENTORY 160
52 PREPAID FIRE INSURANCE 3
62 NOTES RECEIVABLE LONG TERM 100
74 EQUIPMENT 120
74A ACCUMULATED DEPREC. EQUIP. 76
100 ACCOUNTS PAYABLE 90
111 ACCRUED WAGES PAYABLE 8
123 ACCRUED INCOME TAXES PAYABLE 4
137 UNEARNED SALES REVENUE 10
200 PAID IN CAPITAL 110
230 RETAINED INCOME ___ 322
620 620
The following summarized transactions occurred during 2017 and are shown in thousands of dollars.
a. Merchandise inventory purchased on open account was $480.
b. Total sales were $890, of which 80% were on credit.
c. The sales in (b) were exclusive of the deliveries of goods to customers who had paid in advance as of December 31, 2016. See account # 137 on the above trial balance. All of those goods ordered in advance were all delivered in 2017.
d. The cost of goods sold including those in (c), was $440.
e. Collections from credit customers were $682.
f. The notes receivable are from a major supplier of belts. Interest on all notes was collected on May 1, 2017. The rate is 12% per annum. The accounting system provides for cash collections of interest to be credited first to existing accrued interest receivable (see account #35) carried over from the preceding period.
g. The principal of the current notes receivable was collected on May 1, 2017. The principal of the remaining notes is payable on May 1, 2018 (see entry [r]).
h. As of December 31, 2017, customers had made a total of $7 in advance cash payments for "layaway"plans and for merchandise not yet in stock. These payments were exclusive of any other transactions described above.
CASH DISBURSEMENTS WERE:
i. To trade creditors for accounts payable, $470.
j. To employees for wages, $193. The accounting system for wages is to debit any existing accrued payables (see account #111) first and debit any remainder of a disbursement to wage expense.
k. For miscellaneous expenses such as store rents, advertising, utilities, and suppliers, which were paid in cash, $189. It is not necessary to establish separate accounts for these items.
l. New equipment was acquired on July 1, 2017 for $74.
m. A new fire insurance policy for 36 months was secured and paid in full on September 1, 2017. The effective date of the policy was September 1, 2017 and the cost is $36.
n. Income taxes were paid to the Federal and State governments in the amount of $19. Only $15 of the $19 was debited to income tax expense because the company pays taxes on a quarterly basis (see account #123).
o. The board of directors declared a cash dividend of $26 on December 15, 2017 to stockholders of record, January 5, 2018 and payable January 26, 2018. This company uses an account called DIVIDENDS DECLARED to record the declaration of dividends. This means that your debit would be to Dividends Declared. Do not debit retained earnings.
THE FOLLOWING ADJUSTMENTS WERE MADE ON DECEMBER 31, 2016:
p. For the interest on notes receivable.
q. For current fire insurance policy and the prepaid insurance of December 31, 2016, has expired too. See account # 52 on the opening trial balance.
r. For reclassification of the note receivable. This is necessary because the notes become payable the following year.
s. For depreciation: depreciation expense for the year is $30.
t. Wages earned but UNPAID, at December 31, 2017, $15.
u. Total income tax expense for 2017is $20, computed as 40% of pretax income of $50. Note: part of the 2016 income tax has already been recorded and paid, as indicated by transaction [n]. This is a MAJOR HINT: You must arrive at $50 as your Net Income before Income Tax Expense, if you DO NOT, there is a problem with your journal entries and/or postings.
You are the unfortunate accountant who must record all of the transactions listed above because the bookkeeper was fired for stealing from the store. Therefore, you must do the following to close the books:
Post all balances as shown on the trial balance of 12/31/16 to T ACCOUNTS and indicate that they are opening balances for 1/1/17. Then journalize all of the transactions from a. to u. For any accounts not shown in the trial balance establish new accounts and USE ACCOUNT NUMBERS IN THE 300 SERIES.
Post all transactions that you have journalized to the T ACCOUNTS. All postings must contain posting references to the transaction codes, i.e., the letters a. - u.
Prepare a trial balance as of December 31, 2017.
Journalize and post the closing entries to CLOSE THE BOOKS
Prepare a multi step income statement as of December 31, 2017.
Prepare a statement of retained earnings as of December 31, 2017.
Prepare a classified comparative balance sheet for December 31, 2016 and December 31, 2017.
In: Accounting