Can someone please show me how to do the work on this please.

Question

The transactions of the Fury Delivery Service are recorded in the general journal below.

Instructions:

1. Post the journal entries to the attached general ledger “T” accounts.

2. Prepare a trial balance on the form provided after the “T” accounts.

Thank you in advance for all the help, please help me do this step by step, and have a great day.

Part A

Epic Foods produces specialty soup sold in mason jars. The projected sales in dollars and jars for each quarter of the upcoming year are as follows:

Epic anticipates selling 223,000 jars with total sales revenue of $265,000 in the first quarter of the year (2022) following the year given in the table above. Epic has a policy that the ending inventory of jars must be 30% of the following quarter’s sales. Prepare a production budget for the year that shows the number of jars to be produced each quarter and the year in total.

PART B

Gable industries manufactures a popular interactive stuffed animal for children that requires two computer chips inside each toy. Gable pays $3 for each computer chip. To help guard against stockouts of the computer chip Gable has a policy that states that the ending inventory of computer chips should be at least 20% of the following month’s production needs. The production schedule for the first four months of the year is as follows:

Required: Prepare a direct materials budget for the first quarter that shows both the number of computer chips needed and the dollar amount of the purchases in the budget

Kindly show in Reported Balance sheet format

Problem 5-1 Presented below is a list of accounts in alphabetical order. Accounts Receivable Inventory-Ending Accumulated Depreciation-Buildings Land Accumulated Depreciation-Equipment Land for Future Plant Site Accumulated Other Comprehensive Income Loss from Flood Advances to Employees Noncontrolling Interest Advertising Expense Notes Payable (due next year) Allowance for Doubtful Accounts Paid-in Capital in Excess of Par-Preferred Stock Bond Sinking Fund Patents Bonds Payable Payroll Taxes Payable Buildings Pension Liability Cash (in bank) Petty Cash Cash (on hand) Preferred Stock Cash Surrender Value of Life Insurance Premium on Bonds Payable Commission Expense Prepaid Rent Common Stock Purchase Returns and Allowances Copyrights Purchases Debt Investments (trading) Retained Earnings Dividends Payable Salaries and Wages Expense (sales) Equipment Salaries and Wages Payable Freight-In Sales Discounts Gain on Disposal of Equipment Sales Revenue Interest Receivable Treasury Stock (at cost) Inventory-Beginning Unearned Subscriptions Revenue Prepare a classified balance sheet in good form. (No monetary amounts are to be shown.) (List Current Assets in order of liquidity. List Property, Plant and Equipment in order of Land, Building and Equipment. Enter account name only and do not provide the descriptive information provided in the question.)

Competency

Evaluate accounting-related legal and ethical business implications.

Scenario

During your weekly meeting, the Director of Accounting has shared with you the topics discussed at a recent Association of Certified Fraud Examiners (ACFE) meeting. Of particular interest was the agenda item about how some companies have gotten in regulatory trouble with the SEC over their revenue and expense recognition practices. While you both are confident that there are no issues relating to this at your company, you both decided that you wanted to learn more about these cases.

The Director of Accounting wants you to research two such cases and write a summary report to present at the next Accounting Department meeting. The director believes that understanding what has happened to other companies in this area of accounting can help prevent issues in your company.

The Director provides you with the SEC website that they have used in the past to do article searches: www.sec.gov

Instructions

You are asked to select two recent SEC actions against companies (not individuals) that relate to revenue and expense recognition and Prepare a Word document that:

1. summarizes reasons for the SEC actions.
2. identifies the SEC issues related to accounting data and/or operations and the remedial actions assigned and/or penalties given to the company.
3. critiques the remedial actions/penalties.
4. Gives an opinion as to whether you believe they will be effective in preventing future violations by the company.

Break even analysis USE EXCEL

Gallant Carpet Cleaning cannot meet demand with its current equipment. Gallant Carpet Cleaning is considering two new carpet cleaning machines. Machine A cleans carpets to residential standards, while machine B cleans and sanitizes carpets to hospital standards. Machine A costs $25,000 and machine B costs $36,000. The company estimates its cost per cleaning (including all chemicals) for machine A will be $10 and machine B will be $8. The revenue per carpet cleaned for A would be $42, while B could bring in $45 per carpet, due to the higher degree of sanitation provided.

Complete the table below for the data as well as equations (using Q) for Total cost (TC), Total Revenue (TR) and Profit (Pr).

Machine B needs to clean how many more carpets than machine A to break even?

How many carpets Q to be cleaned will make you become indifferent between choosing Machine A or B? Show your work.

Plot the Profit graphs (on same graph) for each machine type. From your graph, recommend over what range of more carpet cleaning demand (Q) which machine type will be preferred.

This third project requires you to invent a merchandising business. You are required to create the financial statements for its first year of operations:

Create your company’s multi-step income statement for the year ended 12/31/18.

Create the retained earnings statement for the year ended 12/31/18.

Create the classified balance sheet dated 12/31/18.

Give me a simple sentence about what your business sells. It can be stated before or after the financial statements.

Hints and reminders:

Make sure the statements ‘flow’ with each other.

Be sure to start the income statement with Net Sales.

Be sure to include a line for Operating Income and an item for the Other Revenue/Expense (Interest expense or Interest revenue) section of the income statement.

Be sure to include Inventory as a current asset on your balance sheet and CGS on your income statement!!

Be sure to include Accumulated Depreciation on the balance sheet if you record Depreciation expense on the income statement.

Be sure you have an amount in the common stock account.

You are not required to pay dividends.

You will be ‘making up’ amounts. Your business can be as successful as you like. Just make sure your balance sheet balances!

Hand in:

The three statements you created

The sentence describing what your company sells

Milano Pizza is a small neighborhood pizzeria that has a small area for in-store dining as well as offering take-out and free home delivery services. The pizzeria’s owner has determined that the shop has two major cost drivers—the number of pizzas sold and the number of deliveries made.

The pizzeria’s cost formulas appear below:

In November, the pizzeria budgeted for 2,220 pizzas at an average selling price of $21 per pizza and for 200 deliveries.

Data concerning the pizzeria’s actual results in November appear below:

Required:

1. Complete the flexible budget performance report that shows both revenue and spending variances and activity variances for the pizzeria for November. (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Input all amounts as positive values.)

1) At Bradford Bed and Breakfast, the manager is looking to expand the facility. The following facts are known:

Cost of the expansion $2,200,000

The Manager is paid $99,000 per year. Compensation will not change due to the expansion

Property taxes will increase by $33,000 annually

The expansion will add 10 rooms and it is expected all 10 will be occupied by paying guests

The addition of the 10 guests each day is expected to add $800,000 of revenue annually

A garden and patio that was built last summer at a cost of $75,000 will be removed to make way for the expansion.

Additional cost of staff based on 10 occupied rooms is $260,000 annually

Additional cost of supplies and food based on 10 occupied rooms $80,000 annually

All expenses are expected to increase 3% annually. Due to competition revenue is expected to increase only 2% annually.

The useful life of the expansion is 8 years. Bradford uses a 8% discount rate.

Based on this information determine the following:

a. After the building is expanded, what is the incremental fixed cost incurred annually as a result of the expansion?

b. What are the incremental variable expense incurred annually due to the expansion?

c. What are the sunk costs of the expansion, if any?

d. Create an 8 year proforma cash flow statement for the expansion project (assume there are no income taxes)

e. Calculate the projects NPV and IRR. Should the project be accepted or rejected?

Milano Pizza is a small neighborhood pizzeria that has a small area for in-store dining as well as offering take-out and free home delivery services. The pizzeria’s owner has determined that the shop has two major cost drivers—the number of pizzas sold and the number of deliveries made.

The pizzeria’s cost formulas appear below:

In November, the pizzeria budgeted for 1,530 pizzas at an average selling price of $14 per pizza and for 210 deliveries.

Data concerning the pizzeria’s actual results in November appear below:

Required:

1. Complete the flexible budget performance report that shows both revenue and spending variances and activity variances for the pizzeria for November. (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Input all amounts as positive values.)