in 2018, camrim corporation purchases 1,000 shares of tresury stock for $11 per share. in 2019 camrim reissues 110 shares of the tresury stock for $13 per share. in 2020, camrim reissues 440 shares of its tresury stock for $8 per share. the journal entry to record the reissuance of tresury stock year 2020 will debit retained earnigns for $______
In: Accounting
ABC company acquires and places in service two assets in March 2020: a forklift (7-year class asset) at a cost of 5000, and a truck (5-year class asset) at a cost of $12000. What is ABC's cost recovery deduction in 2020? Assume ABC is a calendar year taxpayer and does not take Sec.179 expense or first-year bonus depreciation.
In: Accounting
Pharoah company has 6500 shares of 5%, $100 par value, cumulative preferred stock and 13000 shares of $1 par value common stock outstanding in december 31,2020. There were no dividends declared in 2018. The board of directors declares and pays a $61100 dividend in 2019 and in 2020. what is the amoun of dividends recieved by the common stock holders in 2020.
In: Accounting
NGD recently acquired a new piece of land in Suffolk County on April 1, 2012. The land cost $5,000,000. NGD reports under IFRS and revalues its land. On December 31, 2017, the fair value of the land is $4,500,000. On December 31, 2020, the fair value of the land is $5,300,000.
Provide all necessary journal entries for 2012 through 2020.
In: Accounting
4.You have on your schedule to receive street light products from your regular vendor in July 2020.On the 10th June 2020, you learnt from the news that the Vendor’s warehouse has been destroyed by fire and that they may not be able to recover in the next 12 months.
What type of Risk is this? Mention 4 possible things you will do?
In: Operations Management
On March 31st, 2020, you take delivery of a $100,000 T-bond that matures on October 31st, 2030. The coupon rate on the T-bond is 4.20% and the current yield to maturity on the bond is 3.80%. The last coupon payment occurred on October 31st, 2019 and the next coupon payment occurs on April 30th, 2020. Calculate the clean and dirty prices of this transaction.
In: Finance
Xenia Distribution, Incorporated
Xenia Distribution, Incorporated is a privately-held company operating in Ohio since 1990. Xenia makes all of its sales to customers on a credit basis, requiring payment within 30 days. Xenia uses the allowance method to estimate the amount currently uncollectible for its accounts receivable. During 2020, Xenia recorded a monthly provision of 1% of credit sales of as an estimate for uncollectible accounts receivable. However, at year-end, an aging of accounts receivable is prepared and the allowance for uncollectible accounts is adjusted based on an analysis of that aging. At December 31, 2019, the adjusted balance of the allowance for uncollectible accounts was $31,900, and the balance of accounts receivable was $282,400.
During 2020, Xenia wrote-off $23,400 of customer accounts that were deemed to be uncollectible, due to customers declaring bankruptcy or experiencing financial difficulties so severe that extensive collection efforts were not successful. One customer’s account with a $9,200 balance, which had been written-off in August 2018, was subsequently collected from the customer in July 2020. Xenia maintained the same monthly provision of 1% of credit sales throughout all of 2020. Monthly credit sales for 2020 are as follows:
January 77,700
February 89,400
March 55,200
April 38,900
May 47,500
June 63,400
July 99,200
August 92,300
September 87,800
October 82,900
November 84,300
December 81,400
Total cash collections of accounts receivable during 2020 (not including the collection of the previously written-off account) were $859,000.
In preparation for its year-end closing process, Xenia’s controller prepared the following aging of accounts receivable as of December 31, 2020, assigning probabilities of collection based on discussions with Xenia’s credit manager:
Percentage of
Age of Account Receivable Accounts Receivable Probability of Collection
0-30 days past due 75% 95%
31-60 days past due 15% 85%
61-90 days past due 6% 70%
Greater than 90 days past due 4% 10%
Requirements
a) Prepare an analysis computing the unadjusted balance in the allowance for uncollectible accounts as of 12/31/20.
b) Prepare the year-end adjusting journal entry to record bad debt expense based on the
December 31, 2020 aging of accounts receivable.
Anyone know how to do it in a Excel?
In: Accounting
Kendra, Cogley, and Mei share income and loss in a 3:2:1 ratio.
The partners have decided to liquidate their partnership. On the
day of liquidation their balance sheet appears as follows.
|
KENDRA, COGLEY, AND MEI Balance Sheet May 31 |
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| Assets | Liabilities and Equity | ||||||
| Cash | $ | 93,400 | Accounts payable | $ | 247,000 | ||
| Inventory | 537,600 | Kendra, Capital | 76,800 | ||||
| Cogley, Capital | 172,800 | ||||||
| Mei, Capital | 134,400 | ||||||
| Total assets | $ | 631,000 | Total liabilities and equity | $ | 631,000 | ||
Required:
For each of the following scenarios, complete the schedule
allocating the gain or loss on the sale of inventory. Prepare
journal entries to record the below transactions. (Do not
round intermediate calculations. Amounts to be deducted or Losses
should be entered with a minus sign. Round your final answers to
the nearest whole dollar.)
(1) Inventory is sold for $624,000.
(2) Inventory is sold for $438,000.
Complete this question by entering your answers in the tabs below.
Required 1 Inventory
Required 1 GJ
Required 2 Inventory
Required 2 GJ
Required 3 Inventory
Required 3 GJ
Required 4 Inventory
Required 4 GJ
Complete the schedule allocating the gain or loss on the sale of inventory is $624,000.
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Journal entry worksheet
Record the sale of inventory.
Note: Enter debits before credits.
Journal entry worksheet Allocate the gain(loss) on the sale of inventory to the partners. Note: Enter debits before credits.
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In: Accounting
On June 15, 2018, Sanderson Construction entered into a
long-term construction contract to build a baseball stadium in
Washington, D.C., for $220 million. The expected completion date is
April 1, 2020, just in time for the 2020 baseball season. Costs
incurred and estimated costs to complete at year-end for the life
of the contract are as follows ($ in millions):
| 2018 | 2019 | 2020 | |||||||
| Costs incurred during the year | $ | 40 | $ | 80 | $ | 50 | |||
| Estimated costs to complete as of December 31 | 120 | 60 | — | ||||||
Required:
1. Compute the revenue and gross profit will
Sanderson report in its 2018, 2019, and 2020 income statements
related to this contract assuming Sanderson recognizes revenue over
time according to percentage of completion.
2. Compute the revenue and gross profit will
Sanderson report in its 2018, 2019, and 2020 income statements
related to this contract assuming this project does not qualify for
revenue recognition over time.
3. Suppose the estimated costs to complete at the
end of 2019 are $80 million instead of $60 million. Compute the
amount of revenue and gross profit or loss to be recognized in 2019
using the percentage of completion method.
Compute the revenue and gross profit will Sanderson report in its 2018, 2019, and 2020 income statements related to this contract assuming Sanderson recognizes revenue over time according to percentage of completion. (Enter your answers in millions. Loss amounts should be indicated with a minus sign. Use percentages as calculated and rounded in the table below to arrive at your final answer.)
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Compute the revenue and gross profit will Sanderson report in its 2018, 2019, and 2020 income statements related to this contract assuming this project does not qualify for revenue recognition over time. (Enter your answers in millions. Loss amounts should be indicated with a minus sign.)
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Suppose the estimated costs to complete at the end of 2019 are $80 million instead of $60 million. Compute the amount of revenue and gross profit or loss to be recognized in 2019 using the percentage of completion method. (Enter your answers in millions. Use percentages as calculated and rounded in the table below to arrive at your final answer.)
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In: Accounting
Ubuntu Linux
HW5: text processing; scripting
1. Write a Linux command to rewrite the /var/passwd file to have a tab for each delimiter ':'. Hint: use tr
2. Write a Linux command to extract the user names and sort them. Hint: use cut
3. Write a for loop to to display a time table, e.g., 17 x 1 = 17; 17 x 2 = 34; etc., as follows:
17 x 1 = 17 17 x 2 = 34
17 x 3 = 51 17 x 4 = 68
17 x 5 = 85 17 x 6 = 102
17 x 7 = 119 17 x 8 = 136
17 x 9 = 153 17 x 10 = 170
17 x 11 = 187 17 x 12 = 204
17 x 13 = 221 17 x 14 = 238
17 x 15 = 255 17 x 16 = 272
17 x 17 = 289 4.
Write a Linux command to download the following webpage to the fail called "viral-diseases" Hint: use wget
5. Using a regular expression, write a Linux command to extract URL addresses from the viral-diseases. The URL starts with "www" and ending with "com" or "gov". Hint: use grep -E 6. Write a bash shell to
1) using a for loop to create the directory called "jyoon_0" to "jyoon_9";
2) change directory to each of the directories created,
3) write the sentence "Yoon visited in directory jyoon_0t" in the file jyoon_0.txt",
4) attach the timestamp to the file;
5) writhe the same sentence to the standard output device,
6) the timestamp too;
7) do this to all those 10 directories, and
8) at the end, write "All done" to the standard output device. So, the example standard output:
jyoon@MT-UBUN01:~$ ./hw5create.sh
Yoon visited jyoon_0 directory
Thu 09 Jul 2020 11:48:42 AM EDT
Yoon visited jyoon_1 directory
Thu 09 Jul 2020 11:48:42 AM EDT
Yoon visited jyoon_2 directory
Thu 09 Jul 2020 11:48:42 AM EDT
Yoon visited jyoon_3 directory
Thu 09 Jul 2020 11:48:42 AM EDT
Yoon visited jyoon_4 directory
Thu 09 Jul 2020 11:48:42 AM EDT
Yoon visited jyoon_5 directory
Thu 09 Jul 2020 11:48:42 AM EDT
Yoon visited jyoon_6 directory
Thu 09 Jul 2020 11:48:42 AM EDT
Yoon visited jyoon_7 directory
Thu 09 Jul 2020 11:48:42 AM EDT
Yoon visited jyoon_8 directory
Thu 09 Jul 2020 11:48:42 AM EDT
Yoon visited jyoon_9 directory
Thu 09 Jul 2020 11:48:42 AM EDT
All Created!
One of the directories has the following:
jyoon@MT-UBUN01:~$ cd jyoon_5
jyoon@MT-UBUN01:~/jyoon_5$ ls
jyoon_5.txt jyoon@MT-UBUN01:~/jyoon_5$ cat jyoon_5.txt
Yoon visited jyoon_5 directory
Thu 09 Jul 2020 11:48:42 AM EDT
jyoon@MT-UBUN01:~/jyoon_5$
Note that the directory name, file name and your name should be formed with your login ID, but not jyoon, which is not yours!
In: Computer Science