Golden Enterprises started the year with the following: Assets $104,000; Liabilities $34,000; Common Stock $64,000. During the year, the company earned revenue of $5,400 and incurred expenses of $3,200. In addition, the company paid dividends of $1,400 to owners. Assume no other activities occurred during the year. The amount of Golden's retained earnings at the end of the year is: $8,200. $1,400. $11,400. $6,800.

Swagelok Enterprises is a manufacturer of miniature fittings and valves. Over a 5-year period, the costs associated with one product line were as follows: first cost of $25,000, and annual costs of $16,000. Annual revenue was $25,000 and the used equipment was salvaged for $4,000. What rate of return did the company make on this product? The rate of return that the company made on the product is

Review 10K 2017 Apple Inc. Did the footnotes include any disclosures related to: -Corrections of errors -Changes in accounting principle -Changes in reporting entity -Changes in estimates What has the company disclosed related to the adoption of the new revenue recognition standard (ASC 606)? What has the company disclosed related to the adoption of the leases standard (ASC 842)?

Big Country Ski Shop is a retail store that sells ski equipment and clothing. Big Country Ski Shop commenced business on September 1, 2019. The firm purchases merchandise on open account. The firm’s purchases, purchase returns and allowances, and cash payments on account during September 2019 follow:

Required:
Record the transactions in a general journal.

Analyze:
What was the amount of the cash discount on September 12?

Many companies have programs in place aimed at increasing their social responsibility. For this discussion, select a company. I recommend selecting larger companies, and be sure to select the corporate company (not a brand). As an example, Tide is produced by Procter & Gamble, so Procter & Gamble is the company. Please do not select P&G - that was meant only as an example.

• What are some of the highlights, in your opinion, of the company's responsibility program?
• Do these make you more likely or less likely to buy this company's products? Why or why not?
• Does the company seem to focus more on its employees, its customers, or other shareholders with its aims to be responsible?

On October 1, 2018, Jay Pryor established an interior decorating business, Pioneer Designs. During the month, Jay completed the following transactions related to the business:

Enter the following transactions on Page 2 of the two-column journal:

Required:

1. Journalize and insert the posting references for each transaction in a two-column journal beginning on Page 1, referring to the following chart of accounts in selecting the accounts to be debited and credited. For a compound transaction, if an amount box does not require an entry, leave it blank.

2. Post (in chronological order) the journal to a ledger of four-column accounts, inserting appropriate posting references in the general journal as each item is posted. Extend the balances to the appropriate balance columns after each transaction is posted. If an amount box does not require an entry, leave it blank.

3. Prepare an unadjusted trial balance for Intrex Designs as of October 31, 2018. List all accounts in the order of Assets, Liabilities, Stockholders’ equity, Revenues, and Expenses.For those boxes in which no entry is required, leave the box blank. The first two account titles are filled in as an example.

4. Determine the excess of revenues over expenses for October.
$

5. Why the amount determined in above might not be the net income for October?

Because the dividends are declared but not paid

Because the cash balance is incorrect.

Because the closing inventory balance is missing

Because necessary adjustment to expenses, like depreciation has not been made.

CASE STUDY:PRICING AND DELIVERY AT KAR FOODS

Carlos Ramos, head of supply chain at KAR Foods, wondered why his inventories had not declined despite the significant improvement his team had made in its ability to handle mixed-load and small lot orders from customers. He felt that the problem was the discounting scheme offered by the sales team that encouraged customers to place large orders. Carlos arranged for a meeting with Vanessa Rebelo, head of sales and marketing, to discuss future plans.

Historical Pricing and Costs at KAR

KAR was a large Brazilian food processing company, headquartered in São Paulo, that produced fresh and processed meats. Starting as a slaughterhouse, the company had become a major global player after several acquisitions across the world. The company sold its products to several supermarket chains within Brazil. A typical supermarket chain purchased 10,000 kg of meat each month at a price of 4 real/kg from KAR. KAR incurred a cost of 2.50 real/kg to produce the meat. KAR operations were set up to produce at a steady rate that matched demand. Historically, KAR had encouraged its customers to order in large lots by offering quantity discounts of 2 percent (a price of 3.92 real/kg instead of 4 real/kg) if customers ordered lots of 27,500 kg or more. The quantity discounts were justified by the high fixed cost of 4,000 real that was incurred by KAR to process, load and deliver each order.

Supply Chain Improvements at KAR

As the company grew, it became clear that supply chain operations required significant improvement to compete with other multinationals that were entering the Brazilian market. Carlos Ramos was hired to lead this effort, given his extensive experience in the consumer packaged goods industry. A quick review of the status quo by Carlos identified several opportunities for improvement. He decided to focus on the large amount of inventory that was built up to fill customer orders. A reduction in inventory would free up capital and expensive cold storage space, and would also streamline operations. At the current holding cost of 20 percent, reduction in inventories could save a significant amount in overall holding costs. He quickly realized that the inflexibility of the current distribution system resulted in the high cost of 4,000 real to process, load, and deliver each order. Carlos changed processes and invested in technology to increase flexibility and make it cheaper to handle mixed loads. He also brought in routing software that made it easier to plan deliveries to multiple customers on a single truck. This helped reduce the fixed cost per customer order down to 400 real. Carlos hoped that these improvements would significantly reduce lot sizes and thus inventory.

Costs Faced by Customers

Given that there was very little decrease in lot sizes and inventories, Carlos wanted to understand why things had not changed. Before his meeting with Vanessa, he sought to learn about the costs faced by supermarket chains ordering from KAR Foods. He learned that each supermarket chain itself incurred a fixed cost of 100 real associated with each order. This fixed cost was incurred for order placement and receiving. He also learned that each supermarket chain incurred a holding cost of 20 percent.

1) What do you think of the discount scheme that KAR had used historically? Do you think if was justified given the circumstances?

2) Once KAR has reduced its fixed cost per order to 400 real, what are the downsides to leaving the discounting scheme unchanged?

3) What should Carlos suggest to Vanessa at the upcoming meeting? What are the potential gains for KAR from this suggestion?

Use the following to answer the next three questions.

On 3/1/XX, you opened a short position in wheat futures contracts. Each contract has 5000 bushels of wheat attached, and each bushel traded at $4.30 at the time you opened your position. Your initial and maintenance margins per contract are $3325 and $2150, respectively.

If you shorted 6 futures contracts, how much did you have to place in your margin account on 3/1? Round intermediate steps to four decimals and your final answer to two decimals. Do not use currency symbols or words when entering your response.

Find your ending margin balance on 3/2 if wheat futures closed at $4.34/bushel that day.  Assume deficits are eliminated to keep the position open. Round intermediate steps to four decimals and your final answer to two decimals. Do not use currency symbols or words when entering your response.

Find your return on invested capital if you close your position on 3/3 when the futures price is $4.31/bushel.

1. You are in charge of scheduling shipment from the 4 regional warehouses to 4 customers. The unit shipment costs are as given below:

Each of the warehouses have a capacity of 2,500 units, and the demand levels at the four customers are as follows: 1,200 units at Customer 1; 800 units at Customer 2; 5,250 units at Customer 3; and 1,850 at Customer 4. Surely, your main objective is to figure out the shipment plan in order to minimize total transportation costs.

Formulate this problem as a linear program. By following the 4 steps, write out the linear model.