See last 2 tables

1) budgeted mthly income statements. where i have added comments are the items i need . i have put answers that are not correct for june and total column last 3 items for each column

2) for budgedted balance sheet I have added comments on answer section . I have put answers that are not correct for interest payable and stockholders'equity.  

Developing a Master Budget
for a Merchandising Organization
Peyton Department Store prepares budgets quarterly. The following information is available for use in planning the second quarter budgets for 2010.

Actual and forecasted sales for selected months in 2010 are as follows:

Monthly operating expenses are as follows:

Cash dividends of $17,000 are declared during the third month of each quarter and are paid during the first month of the following quarter. Operating expenses, except insurance, rent, and depreciation are paid as incurred. Rent is paid during the following month. The prepaid insurance is for five more months. Cost of goods sold is equal to 50 percent of sales. Ending inventories are sufficient for 120 percent of the next month's sales. Purchases during any given month are paid in full during the following month. All sales are on account, with 50 percent collected during the month of sale, 40 percent during the next month, and 10 percent during the month thereafter. Money can be borrowed and repaid in multiples of $1,000 at an interest rate of 12 percent per year. The company desires a minimum cash balance of $3,000 on the first of each month. At the time the principal is repaid, interest is paid on the portion of principal that is repaid. All borrowing is at the beginning of the month, and all repayment is at the end of the month. Money is never repaid at the end of the month it is borrowed.

(a) Prepare a purchases budget for each month of the second quarter ending June 30, 2010.

(b) Prepare a cash receipts schedule for each month of the second quarter ending June 30, 2010. Do not include borrowings.

(c) Prepare a cash disbursements schedule for each month of the second quarter ending June 30, 2010. Do not include repayments of borrowings.

(d) Prepare a cash budget for each month of the second quarter ending June 30, 2010. Include budgeted borrowings and repayments.

Only use negative signs, if needed, for: excess receipts over disbursements, balance before borrowings and cash balances (beginning and ending).

(e) Prepare an income statement for each month of the second quarter ending June 30, 2010.

Only use negative signs to show net losses in income.

(f) Prepare a budgeted balance sheet as of June 30, 2010.

Developing a Master Budget- Please answer the bottom bolded "ANSWERS" at the bottom.
for a Merchandising Organization
Peyton Department Store prepares budgets quarterly. The following information is available for use in planning the second quarter budgets for 2010.

Actual and forecasted sales for selected months in 2010 are as follows:

Monthly operating expenses are as follows:

Cash dividends of $17,000 are declared during the third month of each quarter and are paid during the first month of the following quarter. Operating expenses, except insurance, rent, and depreciation are paid as incurred. Rent is paid during the following month. The prepaid insurance is for five more months. Cost of goods sold is equal to 50 percent of sales. Ending inventories are sufficient for 120 percent of the next month's sales. Purchases during any given month are paid in full during the following month. All sales are on account, with 50 percent collected during the month of sale, 40 percent during the next month, and 10 percent during the month thereafter. Money can be borrowed and repaid in multiples of $1,000 at an interest rate of 12 percent per year. The company desires a minimum cash balance of $2,000 on the first of each month. At the time the principal is repaid, interest is paid on the portion of principal that is repaid. All borrowing is at the beginning of the month, and all repayment is at the end of the month. Money is never repaid at the end of the month it is borrowed.

(a) Prepare a purchases budget for each month of the second quarter ending June 30, 2010.

(b) Prepare a cash receipts schedule for each month of the second quarter ending June 30, 2010. Do not include borrowings.

(c) Prepare a cash disbursements schedule for each month of the second quarter ending June 30, 2010. Do not include repayments of borrowings.

(d) Prepare a cash budget for each month of the second quarter ending June 30, 2010. Include budgeted borrowings and repayments.

Only use negative signs, if needed, for: excess receipts over disbursements, balance before borrowings and cash balances (beginning and ending).

(e) Prepare an income statement for each month of the second quarter ending June 30, 2010.

Only use negative signs to show net losses in income.

(f) Prepare a budgeted balance sheet as of June 30, 2010.

The balance sheet for Tactex Controls Inc., provincially incorporated in 2018, reported the following components of equity on December 31, 2019.

In 2020 and 2021, the company had the following transactions affecting shareholders and the equity accounts:

Required:
1. Prepare journal entries to record the transactions and closings for 2020 and 2021. The company uses a cash dividends account to record declared dividends.

2. Prepare a statement of changes in equity for the year ended December 31, 2021. (Amounts to be deducted should be indicated by a minus sign.)

3. Prepare the equity section of the company’s balance sheet as of December 31, 2021.

My goal is to be a NC-programmer of CNC machinist.

"Describe/illustrate if all conditions were ideal and you believed that all things were possible, what would you seek to achieve as your life's work or major accomplishment?"

Please write the answer at least 200 words. Thanks.

• Who do you think is “right": the SEDA paper or the “Events are a Bad Idea" paper and why? Justify your answer.

• What is the difference between Mesa and Hoare Monitor semantics?
  • Which is simpler from the perspective of the application programmer?
  • Which is simpler from the perspective of the OS developer? Why?

1. An entrepreneur starts a small firm with one machine, and a small factory space and employs one person initially. With the aid of appropriate diagrams/table and theory, explain the process of production as he increases his output. Indicate clearly what law governs this process of production, the variable and the fixed factors used by this entrepreneur.

2. Discuss the effect of covid-19 on the level of unemployment in Ghana.

3. In March 2020 Ghana recorded its first case of Covid-19 and which subsequently led to a lock down in Kumasi and Accra. Using appropriate diagrams explain the effect of the covid-19 pandemic on equilibrium price and quantity of sanitizers on the market:

1. Before the lock down

b. After the lock down.

Sara’s Ice Cream Shop is closed for six months out of the year but has had the monthly sales amounts listed below for the last four years.

Asssuming that there is both seasonality and a trend, estimate monthly sales for each month of the coming year.

To start a three-phase motor, three switches (A, B and C) are required in such a way that its operation occurs only under the following conditions: • When closed only B • When closed only C • When A and B are simultaneously closed and C is not closed • When A and C are simultaneously closed and B is not closed

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Clampett, Inc., has been an S corporation since its inception. On July 15, 2020, Clampett, Inc., distributed $53,000 to J.D. His basis in his Clampett, Inc., stock on January 1, 2020, was $46,000. For 2020, J.D. was allocated $6,000 of ordinary income from Clampett, Inc., and no separately stated items. What is J.D.'s basis in his Clampett, Inc., stock after all transactions in 2020?

Multiple Choice

• $52,000.

• None of the choices are correct.

• ($6,000).

• $46,000.

• $40,000.