Questions
Web Wizard, Inc., has provided information technology services for several years. The company uses the percentage...

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:

  1. During January, the company provided services for $40,000 on credit.
  2. On January 31, the company estimated bad debts using 1 percent of credit sales.
  3. On February 4, the company collected $20,000 of accounts receivable.
  4. On February 15, the company wrote off a $100 account receivable.
  5. During February, the company provided services for $30,000 on credit.
  6. On February 28, the company estimated bad debts using 1 percent of credit sales.
  7. On March 1, the company loaned $2,400 to an employee who signed a 6 percent note, due in six months.
  8. On March 15, the company collected $100 on the account written off one month earlier.
  9. On March 31, the company adjusted for uncollectable accounts, based on the following aging analysis, which includes the preceding transactions (as well as others not listed). Prior to the adjustment, Allowance for Doubtful Accounts had an unadjusted credit balance of $1,200.
  10. On March 31, the company accrued interest earned on the note.
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...

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

  • Draw a UML class diagram (a hand drawn image is also accepted) for your project.
  • Create a Customer class to store the customer data.
  • This class should include private data members: full name, company, street, city, state, zip code, and id.
  • This class should include public member functions: a constructor, getters, and setters. In addition, it should include a public member function that returns the full address (street, city, zip code, and state).
  • When the program starts, it should ask the user to enter the customer data and save it in an array of Customer objects. For this project, you can initially define the array with twenty elements and make sure each customer has a unique id.
  • Note that the size of the array is fixed, so your program should check the maximum number of customers in the array to prevent the out of bound access error.
  • To find the customer with the specified ID, you can loop through each Customer object in the array of Customer objects and check whether the specified ID matches or not.
  • If the specified ID isn’t found, display an appropriate message.

In: Computer Science

What is the total period cost for the month under variable costing?

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...

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...

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

  1. his profit if he charges $60 per pitcher and he sells 59 pitchers per month
  2. his profit if he charges $65 per pitcher and he sells 55 pitchers per month
  3. which is better?

In: Finance

Manufacturing overhead $500,000 Selling and administrative overhead $300,000 Assembling Units Processing Orders Supporting Customers Other Manufacturing...

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...

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...

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...

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...

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