1. You are a candy manufacturer, specializing in chocolate toffee (yum!). You have just received an order which requires the purchase of 130 tons of cocoa over six months. Relevant contract specs for cocoa are:

What was the total cost of delivery, assuming no hedge?

Need general journal entrys for these...

1. The owner contributes to the company $2400 in a piece of equipment.

2. A purchase in account of merchandise available for sale (perpetual system used) for $1600.

3. A cash sale for an amount equal to 1600.

4. A sale on account for an amount equal to 1200.

5. Utilities services consumed this month will be paid next month according to the invoice received. The invoice is for an amount equal to $720.

6. Advanced payment made in cash from a customer for a future delivery of goods equal to $400.

7. At the end of the period noticed that all the goods for resale (inventory) have been sold.

8. Received the bank statement and since you did not keep the minimum balance, it was debited from your account bank fees for $160.

9. Pay 50% of the amount due for the merchandise acquired for resale.

10. The depreciation of the equipment is 5% of its acquisition cost.

STEP 2: Prepare and print the Income Statement and Balance Sheet for the period and also your general journal showing your journal entries.

For centuries, people have believed myths and misconceptions about psychological disorders and the people who suffer from them. Modern psychological research has allowed us to correct some of these misconceptions. As a result, many people have changed their ideas about mental and emotional disorders. Think of a common misconception you have observed in society or in your personal experience. How could information from research be used to change people's views of psychological disorders? How can this information help us to better understand people who experience mental and emotional disorders?

In a multi-paragraph essay, describe the misconception you observed and discuss how information from research could be used to change this misconception about psychological disorders and the people who suffer from them. Be sure to include details from class materials, readings, and research on psychological disorders to support your discussion.

Buffalo Inc., a greeting card company, had the following statements prepared as of December 31, 2020.

Additional information:

Prepare a statement of cash flows using the indirect method. (Show amounts that decrease cash flow with either a - sign e.g. -15,000 or in parenthesis e.g. (15,000).)

Solomon Modems, Inc. makes modem cards that are used in notebook computers. The company completed the following transactions during year 1. All purchases and sales were made with cash.

1. Acquired $890,000 of cash from the owners.
2. Purchased $340,000 of manufacturing equipment. The equipment has a $44,000 salvage value and a four-year useful life.
3. The company started and completed 6,400 modems. Direct materials purchased and used amounted to $54 per unit.
4. Direct labor costs amounted to $39 per unit.
5. The cost of manufacturing supplies used amounted to $18 per unit.
6. The company paid $64,000 to rent the manufacturing facility.
7. Solomon sold all 6,400 units at a cash price of $190 per unit.
8. The sales staff was paid a $13.00 per unit sales commission.
9. Paid $53,000 to purchase equipment for administrative offices. The equipment was expected to have a $4,400 salvage value and a three-year useful life.
10. Administrative expenses consisting of office rental and salaries amounted to $80,100.

Required

1. Use the following partially completed form to prepare an income statement using the contribution margin format.

2. Determine the break-even point in units and in dollars.

3. Assume that next year’s sales are budgeted to be the same as the current year’s sales. Determine the margin of safety expressed as a percentage.

Plexis Corporation holds 70 percent of Solar Company's voting common shares, acquired at book value, but none of its preferred shares. At the date of acquisition, the fair value of the noncontrolling interest was equal to 30 percent of the book value of Solar Company. Summary balance sheets for the companies on December 31, 20X5, are as follows:

Neither of the preferred issues is convertible. Plexis's preferred pays a 9 percent annual dividend, and Solar's preferred pays a 10 percent dividend. Solar reported net income of $40,000 and paid a total of $15,000 of dividends in 20X5. Plexis reported income from its separate operations of $80,000 and paid total dividends of $45,000 in 20X5.

50) Based on the preceding information, what is the consolidated earnings per share for 20X5?

A) $16.97

B) $17.42

C) $18.72

D) $19.17

Answer: A

Please explain how to get this number!!!

You are a new consultant with the Boston Group and have been sent to advise the executives of penury Company. The company recently acquired product line L from an out-of-state concern and now plans to produce it, along with its old standby K, under one roof in a newly renovated facility. Management is quite proud of the acquisition, contending that the larger size and related cost savings will make the company far more profitable. The planner results of the month’s operations, based on management’s best estimates of the maximum product demanded at today’s selling price are:

Required:

Based on historical operations, K alone incurred fixed expenses of $40,000, and L alone incurred fixed expenses of $20,000. Find the break-even point in sales dollars and units for each product separately.

Give reasons why the fixed cost for the two products combined are expected to be less than the sum of the fixed costs of each product line operating as a separate business.

You are a new consultant with the Boston Group and have been sent to advise the executives of penury Company. The company recently acquired product line L from an out-of-state concern and now plans to produce it, along with its old standby K, under one roof in a newly renovated facility. Management is quite proud of the acquisition, contending that the larger size and related cost savings will make the company far more profitable. The planner results of the month’s operations, based on management’s best estimates of the maximum product demanded at today’s selling price are:

Required:

Based on historical operations, K alone incurred fixed expenses of $40,000, and L alone incurred fixed expenses of $20,000. Find the break-even point in sales dollars and units for each product separately.

Give reasons why the fixed cost for the two products combined are expected to be less than the sum of the fixed costs of each product line operating as a separate business.

write an essay in your own words on the current position of Pakistan economy . give an overview from 2013 to 2020 and suggest some policies do you think Pakistan should adopt. (1500 words)

Use the following transactions to create transactions for a service business of your choice:

Al Ain Services Company had the following transactions for January 2020.

January 1 The owner invested in the company cash $70,000 and Equipment $25,000.

January 2 The company purchased office supplies for $4,200, on account

January 5 Paid $600 for an insurance covering the full year

January 7 Provided a service to a client and received $27,500 cash.

January 9 The company borrowed $20,000 cash from the bank. Annual interest is 12% .

January 12 Received $15,000 cash in advance from Fayda Company in payment for a service to be completed within the 3 months.

January 15 The company purchased equipment for $60,000 and paid $12,000 cash. The remaining amount was on account.

January 20 Owner withdrew $5,500 cash from the company for personal use.

January 31 The company paid $ 2,800 cash for advertising in a local news paper.

I. Required:

A. Prepare general journal entries for the month.                                                [20 Marks]

B. Post entries to the Ledger                                                                                         [10 marks]

C. Prepare Trial balance                                                                                                   [10 Marks]

Following additional information was provided at the end of January 2019.

1. The insurance expense for January was not recorded.

2. The equipment has a useful life of 10 years. Record depreciation expense for January.

3. On January 31, physical count found that supplies of $1,300 were in hand.

4. $5,000 worth of services was provided to Fayda Company during January

5 The interest on note payable for $150 has not yet been paid.

6. Wages for the last 2 days of January was unpaid, weekly wages for 5-days a week is $15,000

II. Required

Prepare adjusting entries for the above information and prepare an adjusted Trial Balance.

                                                                                                                                                               [30 Marks]

III. Required

Prepare the following financial statements based from the above adjusted trial balance:

1. Income statement                                                                                             [10 Marks]
2. Statement of Owner’s Equity                                                                                        [5 Marks]
3. Classified Balance sheet                                                                                                 [15 Marks]