Questions
Please Answer Required# 4,5 and 6. If possible 7 too. Thank you. Please answer as soon...

Please Answer Required# 4,5 and 6. If possible 7 too. Thank you. Please answer as soon as possible.

Required: #1. Prepare journal entries to record the December transactions in the General Journal Tab in the excel template file "Accounting Cycle Excel Template.xlsx". Use the following accounts as appropriate: Cash, Accounts Receivable, Supplies, Prepaid Insurance, Equipment, Accumulated Depreciation, Accounts Payable, Wages Payable, Common Stock, Retained Earnings, Dividends, Service Revenue, Depreciation Expense, Wages Expense, Supplies Expense, Rent Expense, and Insurance Expense.
1-Dec Began business by depositing $9000 in a bank account in the name of the company in exchange for
900 shares of $10 per share common stock.
1-Dec Paid the rent for the current month, $800 .
1-Dec Paid the premium on a one-year insurance policy, $1200 .
1-Dec Purchased Equipment for $3600 cash.
5-Dec Purchased office supplies from XYZ Company on account, $300 .
15-Dec Provided services to customers for $6600 cash.
16-Dec Provided service to customers ABC Inc. on account, $4300 .
21-Dec Received $2100 cash from ABC Inc., customer on account.
23-Dec Paid $170 to XYZ company for supplies purchased on account on December 5 .
28-Dec Paid wages for the period December 1 through December 28, $4760 .
30-Dec Declared and paid dividend to stockholders $200 .
#2. Post all of the December transactions from the “General Journal” tab to the T-accounts under the “T-Accounts” tab in the excel template file "Accounting Cycle Excel Template.xlsx". Assume there are no beginning balances in any of the accounts.  
#3. Compute the balance for each T-account after all of the entries have been posted. These are the unadjusted balance as of December 31.
#4. Prepare the unadjusted trial balance under the “Unadjusted Trial Balance” tab in the excel template file "Accounting Cycle Excel Template.xlsx" .
Provide the total of the credit column from the Unadjusted Trial Balance
#5. Record the following four transactions as adjusting entries under the “General Journal” tab.
31-Dec One month’s insurance has been used by the company $100.
31-Dec The remaining inventory of unused office supplies is $90.
31-Dec The estimated depreciation on equipment is $60.
31-Dec Wages incurred from December 29 to December 31 but not yet paid or recorded total $510.
#6. Post all of the adjusting entries to the T-accounts under the “T-Accounts” tab. Compute the balance for each T-account after all of the adjusting entries have been posted. These are the adjusted balance as of December 31.
#7. Prepare the adjusted trial balance under the “Adjusted Trial Balance” tab as of December 31 in the excel template file "Accounting Cycle Excel Template.xlsx" .
Provide the following accounts balances from the Adjusted Trial Balance:
Cash   
Accounts Receivable
Supplies   
Prepaid Insurance
Equipment
Accumulated Depreciation
Accounts Payable
Wages Payable   
Common Stock
Retained Earnings   

In: Accounting

Consider an electron confined in a one-dimensional infinite potential well having a width of 0.4 nm....

Consider an electron confined in a one-dimensional infinite potential well having a width
of 0.4 nm. (a) Calculate the values of three longest wavelength photons emitted by the
electron as it transitions between the energy levels inside the well [3 pts.]. (b) When the
electron undergoes a transition from the n = 2 to the n = 1 level, what will be its emitted
energy and wavelength [2 pts.]. To which region of the electromagnetic spectrum does
this wavelength belong?

here are the constant and values provided

h = 6.62 × 10 -34 J – s; q = 1.602 × 10 -19 C; c = 3 × 10 8 m/s; ħ = h/2π; m e = 9.11 x 10 -31 kg; m p =
1.67 x 10 -27 kg; m n = 1.674929 x 10 -27 kg; 1 eV = 1.602 × 10 -19 J; 1 Å = 1 × 10 -10 m;
1 nm = 1 × 10 -9 m

In: Physics

Suppose the following table was generated from sample data of 20 employees relating hourly wage to...

Suppose the following table was generated from sample data of 20 employees relating hourly wage to years of experience and whether or not they have a college degree. Using statistical software, create an indicator (dummy) variable for the variable "Degree" and find the regression equation. Is there enough evidence to support the claim that on average employees with a college degree have higher hourly wages than those without a college degree at the 0.05 level of significance? If yes, write the coefficient of the dummy variable in the space provided, rounded to two decimal places. Else, select "There is not enough evidence."

Wage   Experience   Degree
16.00 16 No
24.52 20 Yes
17.68 12 Yes
16.00 16 No
33.98 27 Yes
19.51 29 No
19.86 26 No
16.00 16 No
6.75 1 Yes
28.70 27 Yes
18.97 24 No
17.29 21 No
10.60 3 Yes
17.88 12 Yes
12.77 9 No
7.48 3 Yes
27.70 26 Yes
11.20 6 Yes
19.20 30 No
22.61 30 No

In: Statistics and Probability

For the past 112112 ​years, a certain state suffered 2828 direct hits from major​ (category 3...

For the past

112112

​years, a certain state suffered

2828

direct hits from major​ (category 3 to​ 5) hurricanes. Assume that this was typical and the number of hits per year follows a Poisson distribution. Complete parts​ (a) through​ (d).

​(a) What is the probability that the state will not be hit by any major hurricanes in a single​ year?

The probability is

1-The number of hits to a website follows a Poisson process. Hits occur at the rate of

1.0 per minute1.0 per minute

between​ 7:00 P.M. and

99​:00

P.M. Given below are three scenarios for the number of hits to the website. Compute the probability of each scenario between

8 : 27 P.M.8:27 P.M.

and

88​:3535

P.M. Interpret each result.

​(a) exactly fivefive

​(b) fewer than fivefive

​(c) at least fivefive

2-Determine the required value of the missing probability to make the distribution a discrete probability distribution. x ​P(x) 3 0.35 0.35 4 ​? 5 0.16 0.16 6 0.27 0.27 ​P(4) =

In: Statistics and Probability

Homework Assignment 4 Instructions: Class name must be: HW4_yourName For example: Michael will name the class...

Homework Assignment 4 Instructions: Class name must be: HW4_yourName For example: Michael will name the class of homework assignment 4 as HW4_Michael Grading Rubric: Code running and as per the required conditions and giving expected output = 10 points File named as per instructions = 1 point Comments in code = 4 points Problem: Average calculation for a list Write a program that reads a text file named test_scores.txt to read the name of the student and his/her scores for 3 tests. The program should display class average for first test (average of scores of test 1) and average (average of 3 tests) for each student. Expected Output: ['John', '25', '26', '27'] ['Michael', '24', '28', '29'] ['Adelle', '23', '24', '20'] [['John', '25', '26', '27'], ['Michael', '24', '28', '29'], ['Adelle', '23', '24', '20']] Class average for test 1 is: 24.0 Average for student John is 26.00 Average for student Michael is 27.00 Average for student Adelle is 22.33

In: Computer Science

Sales-Related and Purchase-Related Transactions Using Periodic Inventory System The following were selected from among the transactions...

Sales-Related and Purchase-Related Transactions Using Periodic Inventory System

The following were selected from among the transactions completed by Essex Company during July of the current year:

July 3. Purchased merchandise on account from Hamling Co., list price $72,000, trade discount 15%, terms FOB shipping point, 2/10, n/30, with prepaid freight of $1,450 added to the invoice.
5. Purchased merchandise on account from Kester Co., $33,450, terms FOB destination, 2/10, n/30.
6. Sold merchandise on account to Parsley Co., $36,000, terms n/15. The cost of the merchandise sold was $25,000.
7. Returned $6,850 of merchandise purchased on July 5 from Kester Co.
13. Paid Hamling Co. on account for purchase of July 3.
15. Paid Kester Co. on account for purchase of July 5, less return of July 7.
21. Received cash on account from sale of July 6 to Parsley Co.
21. Sold merchandise on MasterCard, $108,000. The cost of the merchandise sold was $64,800.
22. Sold merchandise on account to Tabor Co., $16,650, terms 2/10, n/30. The cost of the merchandise sold was $10,000.
23. Sold merchandise for cash, $91,200. The cost of the merchandise sold was $55,000.
28. Paid Parsley Co. a cash refund of $2,500 for damaged merchandise from sale of July 6. Parsley Co. kept the merchandise.
31. Paid MasterCard service fee of $1,650.

Required:

Journalize the entries to record the transactions of Essex Company for July using the periodic inventory system. If an amount box does not require an entry, leave it blank.

July 3 fill in the blank 2 fill in the blank 3
fill in the blank 5 fill in the blank 6
fill in the blank 8 fill in the blank 9
July 5 fill in the blank 11 fill in the blank 12
fill in the blank 14 fill in the blank 15
July 6 fill in the blank 17 fill in the blank 18
fill in the blank 20 fill in the blank 21
July 7 fill in the blank 23 fill in the blank 24
fill in the blank 26 fill in the blank 27
July 13 fill in the blank 29 fill in the blank 30
fill in the blank 32 fill in the blank 33
fill in the blank 35 fill in the blank 36
July 15 fill in the blank 38 fill in the blank 39
fill in the blank 41 fill in the blank 42
fill in the blank 44 fill in the blank 45
July 21 fill in the blank 47 fill in the blank 48
fill in the blank 50 fill in the blank 51
July 21 fill in the blank 53 fill in the blank 54
fill in the blank 56 fill in the blank 57
July 22 fill in the blank 59 fill in the blank 60
fill in the blank 62 fill in the blank 63
July 23 fill in the blank 65 fill in the blank 66
fill in the blank 68 fill in the blank 69
July 28 fill in the blank 71 fill in the blank 72
fill in the blank 74 fill in the blank 75
July 31 fill in the blank 77 fill in the blank 78
fill in the blank 80 fill in the blank 81

In: Accounting

Rusty Williams, the owner and CEO of The Rusty Bicycle Company, a small manufacturer and distributer...

Rusty Williams, the owner and CEO of The Rusty Bicycle Company, a small manufacturer and distributer of recreational bikes, has dejectedly watched sales of his company’s flagship bike, the WindRunner, decline precipitously over the past 7 years. Believing that the trend is irreversible, Rusty has taken the drastic step of shutting down the operation of his firm in an effort to reduce costs while he tries to figure out how to rescue the firm he has spent the bulk of his life building.

Rusty asks his brother John, the head design engineer at his firm to design and build a prototype of a new bicycle that might be able to save the company. Rusty tells John to forget about conventional bicycle design and to “think big” and come up with something truly revolutionary.

After about 6 weeks of intense work, John comes back to Rusty with a proposal for the “WindRunner 2.0”, a bicycle unlike anything else on the market today. John believes that the specialty nature of the new bicycle suggests that, while unit sales volume may be relatively low, the bicycle should command a premium sales price. Specifically, he thinks that customers would be willing to pay upwards of $845 per bike.

Rusty, intrigued by the new design, hires a market research consultant, Sandy Frazier, to study the potential demand for the WindRunner 2.0. As projecting demand for a completely new product is notoriously difficult, she limits her prediction to a 5 year horizon. Sandy gives the following forecast to Rusty in exchange for her customary fee of $45,000.

Year

Sales Volume

1

7,000

2

7,000

3

7,000

4

7,000

5

7,000

Rusty is optimistic that the expected sales revenue will be enough to save his company. Deciding to move forward on the evaluation of this project, he asks John what new manufacturing capacity will be needed to begin production. John thinks that he could reconfigure the firm’s current manufacturing facility to produce the new model bicycle, although the current production machinery, purchased over 20 years ago, is woefully inadequate. He estimates that the necessary new equipment could be purchased for $2.5 million and that the whole manufacturing process will incur fixed operating costs of $3 million per year. Additionally, he estimates the variable costs of production to run $260 per bike produced.

John further thinks that the existing production equipment, which will no longer be needed, could be sold for $400,000. The existing equipment was classified for tax purposes under the 15 year MACRS category. As a result of a recent exemption given to small businesses, Rusty will not have to use the MACRS depreciation schedules for new capital assets acquired. Instead, the new equipment will be depreciated straight-line to zero over the 5 year planning horizon. John thinks that the new production equipment will be worthless and scrapped at the end of 5 years.

Finally, John tells Rusty that he will need about $300,000 in raw materials (i.e. parts and supplies) for the bicycles to begin production. This expenditure will not be recovered at the end of the project. Rusty, worried about spending so much cash on parts, calls a supplier, Rodney Murdock, to see about short-term credit options. Unfortunately, due to the precarious position Rusty finds his company in, the supplier is unable to offer any credit terms and will insist upon cash on delivery payment for raw materials.

Recently, a federal government economic stimulus measure was enacted. As a result of this effort, small businesses, like Rusty, will have their business income tax rate cut to zero percent for the next 10 years. The intent is to stimulate the formation of new small businesses throughout the country. Since this project is a last ditch effort to save the company, Rusty plans to let the project run for the 5 year forecast horizon. After that, he plans to dissolve the business and retire. Due to the desperation involved in this project, Rusty estimates that a 20% required rate of return is appropriate.

Rusty has asked for your help in addressing the following questions.

Prepare a 5 year forecast of cash flow from assets (CFA) for the WindRunner 2.0 project.

1

2

3

4

5

Sales Volume

Price

Revenue

Fixed Costs

Variable Costs per unit

Income Statement

1

2

3

4

5

Sales

Expenses

Depreciation

EBIT

Taxes

Net Income

Cash Flows

0

1

2

3

4

5

Operating Cash Flows

Net Working Capital

Capital Expenditure

Salvage

Cash Flow from Assets

Calculate the Net Present Value (NPV) of the WindRunner 2.0 project.

Since the future of his company rests on the success or failure of this project, Rusty is understandably concerned about risks to his forecasts and expectations for the project. To get a better picture of the risk involved, Rusty again asks you to conduct the following scenario analyses.   

With your previous work being used as the ‘base case’ scenario, estimate the net present value of the project under a pessimistic scenario. Specifically, Rusty wants to consider the project’s NPV if both sales volume and the sales price are 10% below the base case scenario, while variable costs are 10% above the base case scenario estimates. All other variables will remain the same.

1

2

3

4

5

Sales Volume

Price

Revenue

Fixed Costs

Variable Costs per unit

Income Statement

1

2

3

4

5

Sales

Expenses

Depreciation

EBIT

Taxes

Net Income

Cash Flows

0

1

2

3

4

5

Operating Cash Flows

Net Working Capital

Capital Expenditure

Salvage

Cash Flow from Assets

Now, to look at the optimistic case, reevaluate the project NPV where sales volume and sales price are 10% above the base case estimates, while variable costs are 10% below base case estimates. Again, all other variables are presumed to remain the same.

1

2

3

4

5

Sales Volume

Price

Revenue

Fixed Costs

Variable Costs per unit

Income Statement

1

2

3

4

5

Sales

Expenses

Depreciation

EBIT

Taxes

Net Income

Cash Flows

0

1

2

3

4

5

Operating Cash Flows

Net Working Capital

Capital Expenditure

Salvage

Cash Flow from Assets

Finally, Rusty would like to know what minimum quantity of the WindRunner 2.0 models will have to be sold in order to produce a zero NPV (i.e. the financial breakeven point). That is, he would like to know what level of sales volume would leave him indifferent between undertaking the project versus shelving the project.  

In: Finance

Greg’s Bicycle Shop has the following transactions related to its top-selling Mongoose mountain bike for the...

Greg’s Bicycle Shop has the following transactions related to its top-selling Mongoose mountain bike for the month of March. Greg's Bicycle Shop uses a periodic inventory system.

Date Transactions Units Unit Cost Total Cost
March 1 Beginning inventory 20 $ 175 $ 3,500
March 5 Sale ($250 each) 15
March 9 Purchase 10 195 1,950
March 17 Sale ($300 each) 8
March 22 Purchase 10 205 2,050
March 27 Sale ($325 each) 12
March 30 Purchase 8 225 1,800
$ 9,300

For the specific identification method, the March 5 sale consists of bikes from beginning inventory, the March 17 sale consists of bikes from the March 9 purchase, and the March 27 sale consists of four bikes from beginning inventory and eight bikes from the March 22 purchase.

Calculate ending inventory and cost of goods sold at March 31, using the specific identification method.

Ending inventory
Cost of goods sold


Using FIFO, calculate ending inventory and cost of goods sold at March 31.

Ending inventory
Cost of goods sold

  Using LIFO, calculate ending inventory and cost of goods sold at March 31.

Ending inventory
Cost of goods sold

Using weighted-average cost, calculate ending inventory and cost of goods sold at March 31. (Round your intermediate and final answers to 2 decimal places.)

Ending inventory
Cost of goods sold

Calculate sales revenue and gross profit under each of the four methods. (Round weighted-average cost amounts to 2 decimal places.)

Specific Identification FIFO LIFO Weighted-average cost
Sales revenue
Gross profit

7. If Greg’s Bicycle Shop chooses to report inventory using LIFO instead of FIFO, record the LIFO adjustment.

Journal entry worksheet

  • Record the LIFO adjustment.
Date General Journal Debit Credit
March 31

In: Accounting

Green Thumb Gardening is a small gardening service that uses activity-based costing to estimate costs for...

Green Thumb Gardening is a small gardening service that uses activity-based costing to estimate costs for pricing and other purposes. The proprietor of the company believes that costs are driven primarily by the size of customer lawns, the size of customer garden beds, the distance to travel to customers, and the number of customers. In addition, the costs of maintaining garden beds depends on whether the beds are low maintenance beds (mainly ordinary trees and shrubs) or high maintenance beds (mainly flowers and exotic plants). Accordingly, the company uses the five activity cost pools listed below:

  

  Activity Cost Pool Activity Measure                        
  Caring for lawn   Square feet of lawn
  Caring for garden beds–low maintenance   Square feet of low maintenance beds
  Caring for garden beds–high maintenance   Square feet of high maintenance beds
  Travel to jobs   Miles
  Customer billing and service   Number of customers

  

The company has already completed its first stage allocations of costs and has summarized its annual costs and activity as follows:

  

  Activity Cost Pool Estimated
Overhead
Cost
Expected Activity                          
  Caring for lawn $ 85,800     165,000 square feet of lawn
  Caring for garden beds–low maintenance $ 38,400     25,000 square feet of low maintenance beds
  Caring for garden beds–high maintenance $ 53,200     19,000 square feet of high maintenance beds
  Travel to jobs $ 3,600     16,000 miles
  Customer billing and service $ 7,500     38 customers

  

Required:

Compute the activity rate for each of the activity cost pools. (Round your answers to 2 decimal places.)


Activity Cost Pool Activity Rate
Caring for lawn per square foot of lawn
Caring for garden beds—low maintenance per square foot of low maintenance beds
Caring for garden beds—high maintenance per square foot of high maintenance beds
Travel to jobs per mile
Customer billing and service per customer

In: Accounting

Green Thumb Gardening is a small gardening service that uses activity-based costing to estimate costs for...

Green Thumb Gardening is a small gardening service that uses activity-based costing to estimate costs for pricing and other purposes. The proprietor of the company believes that costs are driven primarily by the size of customer lawns, the size of customer garden beds, the distance to travel to customers, and the number of customers. In addition, the costs of maintaining garden beds depends on whether the beds are low maintenance beds (mainly ordinary trees and shrubs) or high maintenance beds (mainly flowers and exotic plants). Accordingly, the company uses the five activity cost pools listed below:

Activity Cost Pool Activity Measure
Caring for lawn Square feet of lawn
Caring for garden beds–low maintenance Square feet of low maintenance beds
Caring for garden beds–high maintenance Square feet of high maintenance beds
Travel to jobs Miles
Customer billing and service Number of customers

The company already has completed its first stage allocations of costs and has summarized its annual costs and activity as follows:  

Activity Cost Pool Estimated
Overhead
Cost
Expected Activity
Caring for lawn $ 81,800 175,000 square feet of lawn
Caring for garden beds–low maintenance $ 34,400 22,000 square feet of low maintenance beds
Caring for garden beds–high maintenance $ 43,360 16,000 square feet of high maintenance beds
Travel to jobs $ 3,400 13,000 miles
Customer billing and service $ 7,100 20 customers

Required:

Compute the activity rate for each of the activity cost pools. (Round your answers to 2 decimal places.)

Activity Cost Pool Activity Rate
Caring for lawn per square ft of lawn
Caring for garden beds—low maintenance per square ft of low maintenance beds
Caring for garden beds—high maintenance per square ft of high maintenance beds
Travel to jobs per mile
Customer billing and service per customer

In: Accounting