Web Wizard, Inc., has provided information technology services
for several years. The company uses the percentage of credit sales
method to estimate bad debts for internal monthly reporting
purposes. At the end of each quarter, the company adjusts its
records using the aging of accounts receivable method. The company
entered into the following selected transactions during the first
quarter of 2017:
| Number of Days Unpaid | |||||||||||||||
| Customer | Total | 0-30 | 31-60 | 61-90 | Over 90 | ||||||||||
| Altavista Tourism | $ | 200 | $ | 100 | $ | 80 | $ | 20 | |||||||
| Bayling Bungalows | 400 | $ | 400 | ||||||||||||
| Others (not shown to save space) | 17,000 | 6,800 | 8,400 | 1,000 | 800 | ||||||||||
| Xciting Xcursions | 400 | 400 | |||||||||||||
| Total Accounts Receivable | $ | 18,000 | $ | 7,300 | $ | 8,480 | $ | 1,020 | $ | 1,200 | |||||
| Estimated uncollectable (%) | 2 | % | 10 | % | 20 | % | 40 | % | |||||||
1-a. For items (a) through (j), analyze the amount and effects on specific financial statement accounts and the overall accounting equation. (Enter any decreases to the account with a minus sign.)
1-b. Prepare the journal entries for
the above items. (If no entry is required for a
transaction/event, select "No journal entry required" in the first
account field.)
2. Show how the receivables related to these
transactions would be reported in the current assets section of a
classified balance sheet. (Amounts to be deducted should be
indicated by a minus sign.)
3. Name the accounts related to Accounts
Receivable and Note Receivable that would be reported on the income
statement and indicate whether they would appear before or after
Income from Operations.
In: Accounting
PLEASE DO IN C++
Create an object-oriented program that initially allows the user to save customer information in the list and to search for a customer by specifying the customer’s ID.
Sample Run
Customer Information Management System
---------------------------------------------------------------
CUSTOMER DATA ENTRY:
Full Name (First, Last): Jenny Ha
Company: Convergent Laser Technologies
Street: 1000 International Ave
City: Oakland
State: CA
Zip Code: 94506
ID: 100
Continue Your Data Entry? (y/n): y
Full Name (First, Last): Bill Martinez
Company: Cisco Systems
Street: 2000 Jackson St
City: San Jose
State: CA
Zip Code: 95112
ID: 100
This ID exists! Try again.
ID: 200
Continue Your Data Entry? (y/n): n
---------------------------------------------------------------
CUSTOMER DATA SEARCH:
Enter Customer ID: 100
Jenny Ha
Convergent Laser Technologies
1000 International Ave
Oakland, CA 94506
Continue Your Data Search? (y/n): y
Enter Customer ID: 200
Bill Martinez
Cisco Systems
2000 Jackson St
San Jose, CA 95112
Continue Your Data Search? (y/n): y
Enter Customer ID: 99
No customer with that ID.
Continue Your Data Search? (y/n): n
---------------------------------------------------------------
Thank you for using my app!
Specifications
In: Computer Science
The following information for the next 2 questions Davison Corporation, which has only one product , has provided the following data concerning its most recent month of operations: Selling price 95 ,Units in beginning inventory 0 ,Units produced 5000, Units sold 4,900, Units in ending inventory 100.
Variable costs per unit
Direct materials. 26 ,Direct labor 40 , Variable manufacturing overhead 1, Variable selling and administrative expense 4,
Fixed costs
Fixed manufacturing overhead $40,000, Fixed selling and administrative expense $73,500 What is the total period cost for the month under variable costing? A) S133,100 B) $113,500 C) $40,000 D) $93,100
In: Accounting
|
Consider the following pro forma for the next 4 questions |
||
|
Potential Gross Income 100,000 sq. ft for the coming year |
||
|
average rent $15.00 per ft. |
$ 1,500,000 |
|
|
Less Vacancy Allowance (average 8%) |
$ (120,000) |
|
|
Effective Gross Income |
$ 1,380,000 |
|
|
Cleaning expenses (5% of net rev) |
$ (69,000) |
|
|
Insurance ($ 0.02 per dollar replacement, R.C. = $40 per ft. |
$ (80,000) |
|
|
Management & Maintenance (11% of revenue) |
$ (151,800) |
|
|
Reserve for Replacement (savings for major repairs) |
$ (50,000) |
|
|
Property Taxes ($0.10 per $100 of R.C.) |
$ (4,000) |
|
|
$ (354,800) |
||
|
Estimated Net Operating Income |
$ 1,025,200 |
|
|
If the terminal (ending) cap rate is projected at 10% what is the expected selling price of the property at the end of the holding period? |
||
In: Finance
Bill’s costs are simple. Clay costs $1.35 and glazing $0.60 per pitcher. Bill rents kiln time at a fixed price of $125 per month. In addition to the commission he also pays the museum a display space fee of $100 per month. The museum shop takes an 8% commission. (That means that 8% of his revenues are owed to the museum shop.)
On an Excel worksheet, create an income statement model that will compute Bill’s profit for a month. Please use that model to calculate
In: Finance
| Manufacturing overhead | $500,000 | |||
| Selling and administrative overhead | $300,000 | |||
| Assembling Units | Processing Orders | Supporting Customers | Other | |
| Manufacturing overhead | 50% | 35% | 5% | 10% |
| Selling and administrative overhead | 10% | 45% | 25% | 20% |
| Total activity | 1,000 | 250 | 100 | |
| units | orders | customers | ||
| OfficeMart orders: | ||||
| Customers | 1 | customer | ||
| Orders | 4 | orders | ||
| Number of filing cabinets ordered in total | 80 | units | ||
| Selling price | $595 | |||
| Direct materials | $180 | |||
| Direct labor | $50 |
| Determine the customer margin for the OfficeMart orders under Activity-Based Costing | ||||
| Sales | ? | |||
| Costs: | ||||
| Direct materials | ? | |||
| Direct labor | ? | |||
| Unit-related overhead | ? | |||
| Order-related overhead | ? | |||
| Customer-related overhead | ? | ? | ||
| Customer margin | ? | |||
In: Accounting
Derive the probability distribution of the 1-year HPR on a 30-year U.S. Treasury bond with a coupon of 3.5% if it is currently selling at par and the probability distribution of its yield to maturity a year from now is as shown in the table below. (Assume the entire 3.5% coupon is paid at the end of the year rather than every 6 months. Assume a par value of $100.) (Leave no cells blank - be certain to enter "0" wherever required. Negative values should be indicated by a minus sign. Do not round intermediate calculations. Round your answers to 2 decimal places.)
| economy | probabilty | ytm (%) | price | capital gain | coupon interest | HPR |
| boom | .25 | 9 | ||||
| normal | .50 | 7 | ||||
| recession | .25 | 6 |
In: Finance
Consider a consumer with the Utility function: U = C^1/5 O^ 4/5 and facing a budget constraint: M ≥ PcC +PoO
Note: For this utility function MUC = (1/5)C^-4/5 O^ 4/5 and MUo = (4/5)C^1/5 O^ -1/5 Where C denotes the consumption of corn, and O denotes the consumption of other goods.
A) Derive the Marshallian demand functions for C and O using the equilibrium conditions for an interior solution.
B) Graph and fully label the Demand Curve for corn if income is M=100. To do this, solve for demand when the price of corn is 10, 20, and 40, then approximate the demand curve using these three points.
In: Economics
Capital Gain Netting Process. Joe sold the following capital assets during 2018:
| Description | Date Acquited | Sales Price | Date sold | Adjusted Basis |
| 100 shares XY corp. | 1/10/95 | $14,000 | 1/12/18 | $1,000 |
| 50 shares LM Inc | 9/14/17 | 1,900 | 1/12/18 | 4,000 |
| 140 shares CH corp | 11/20/17 | 3,400 | 4/10/18 | 3,000 |
| Gold Necklace | 4/22/03 | 5,000 | 6/30/18 | 1,300 |
| Personal Auto | 5/10/12 | 4,000 | 8/31/18 | 6,500 |
Explain the effects of the transactions above on Joe's taxable income and final taxable liability.
In: Accounting
Capital Gain Netting Process. M sold the following capital assets during 2018:
|
Description |
Date Acquited |
Sales Price |
Date sold |
Adjusted Basis |
|
100 shares XY corp. |
1/10/95 |
$14,000 |
1/12/18 |
$1,000 |
|
50 shares LM Inc |
9/14/17 |
1,900 |
1/12/18 |
4,000 |
|
140 shares CH corp |
11/20/17 |
3,400 |
4/10/18 |
3,000 |
|
Gold Necklace |
4/22/03 |
5,000 |
6/30/18 |
1,300 |
|
Personal Auto |
5/10/12 |
4,000 |
8/31/18 |
6,500 |
Explain the effects of the transactions above on M's taxable income and final taxable liability.
In: Accounting