Derive a minimal state table for a Moore model FSM that acts as a three-bit parity generator. For every three bits that are observed on inputw during three consecutive clock cycles, the FSM generates the parity bit outputq = 1 if the number of 1s received in the sequence so far is odd. Thus, this is an even parity generator. Implement the FSM as a circuit in Logisim Evolution.

Note that the FSM outputs a 1 as long as the number of 1s received so far in the three-bit sequence is odd. This means that the circuit can output 1s before receiving all three bits. An example of this would be receiving the input 1 at the start; the circuit will output 1 after seeing the 1. Had the FSM received a 0 instead, the circuit would output 0. If the circuit receives a 0 after receiving the 1, the circuit would output 1 again. Note that after receiving the three bits, the circuit resets and starts looking at the next three bit set; thus, this is not a sliding window.

Loaded-Up Fund charges a 12b-1 fee of 1% and maintains an expense ratio of 0.60%. Economy Fund charges a front-end load of 2%, but has no 12b-1 fee and an expense ratio of 0.40%. Assume the rate of return on both funds’ portfolios (before any fees) is 5% per year.


a. How much will an investment of $100 in each fund grow to after 1 year? (Do not round intermediate calculations. Round your answers to 2 decimal places.)

Loaded-up Fund:

Economy Fund:

b. How much will an investment of $100 in each fund grow to after 2 years? (Do not round intermediate calculations. Round your answers to 2 decimal places.)

Loaded-up Fund:

Economy Fund:

c. How much will an investment of $100 in each fund grow to after 11 years? (Do not round intermediate calculations. Round your answers to 2 decimal places.)

Loaded-up Fund:

Economy Fund:

1) As Perry Materials Supply was preparing for the year-end close, their balances were as follows:

Perry Materials uses the aging method and has completed the following analysis of the accounts receivable:

What will the final balance in the Allowance account be, after adjusting for uncollectible account expense?

A) $2,550

B) $11,285

C) $5,085

D) $11,285

2) Accounts receivable has a balance of $16,000 and the Allowance for uncollectible accounts has a credit balance of $1,700.  What is Net accounts receivable before and after a $60 account receivable is written off?

A) $14,300 before and $14,240 after

B) $14,300 before and $14,300 after

C) $16,000 before and $15,940 after

D) $16,000 before and $16,000 after

3) At January 1, Davidson Services has the following balances:

During the year, Davidson has $104,000 of credit sales, collections of $100,000, and write-offs of $1,400.

Davidson records Uncollectible accounts expense at the end of the year using the percent-of-sales method, and applies a rate of 1.1%, based on past history.

Prior to the year-end entry to adjust the Uncollectible accounts expense, what is the balance in Accounts receivable?

A) $2,600

B) $11,600

C) $4,000

D) $13,000

4) At January 1, Everbright Sales has the following balances:

During the year, Everbright has $150,000 of credit sales, collections of $140,000, and write-offs of $3,000. Everbright records Uncollectible accounts expense at the end of the year using the aging method.  At the end of the year, the aging analysis produces a figure of $1,900, being the estimate of uncollectible accounts at end of year.

Before the year-end entry to adjust the Uncollectible accounts expense is made, what is the balance in the Uncollectible accounts expense?

A) Debit of $1,400

B) Credit of $1,944

C) Zero balance

D) Credit of $544

5) A company uses the direct write-off method to account for uncollectible receivables.  Which of the following is included in the entry to write off an uncollectible account?

A) A debit to Uncollectible account expense

B) A debit to the customer's Account receivable

C) A credit to the Allowance for uncollectible accounts

D) No entry is made to write off uncollectible accounts.

6) Archer Company and Zorro Company both have significant amounts of accounts receivable at any time, and both experience uncollectible accounts from time to time.  Archer uses the percent-of-sales method to account for uncollectible accounts, and Zorro uses the direct write-off method.  Which of the following statements is FALSE?

A) Zorro Company's method complies with GAAP.

B) Archer Company's method will provide better matching of revenues and expenses.

C) Archer Company's net income is more accurate due to their accounting method.

D) Zorro Company's method does not provide good matching of revenues and expenses.

7) Archer Company has significant amounts of accounts receivable, and experiences uncollectible accounts from time to time.  Archer uses the aging method to account for uncollectible accounts.  When Archer Company writes off an uncollectible receivable, what is the effect of that single transaction?

A) It will reduce net income.

B) It will have no effect on net income.

C) It will increase total assets of the company.

D) It will generate negative cash flow.

8) Which of the following is NOT one of the benefits of a business accepting credit cards from their customers?

A) The business doesn't take the risk of the customer failing to pay.

B) The business can attract more customers and more sales.

C) The business earns a higher profit on credit card sales than cash sales.

D) The business does not have to check the credit ratings of customers.

9) On which of the following dates does a three-month note dated November 12 mature?

A) February 10

B) February 12

C) February 13

D) February 11

10) What is the maturity value of a 3-month, 12% note for $20,000?

A) $20,000

B) $22,400

C) $21,200

D) $20,600

High Class Painting purchased a 1-year insurance policy on 1 March 2020. The entire premium of $9000 was recorded by debiting Prepaid Insurance. Ignore GST.

Required
(a) Give the adjusting entry at 30 June for the financial year ending 30 June 2020.

(b) What amount should be reported in the 30 June 2020 Statement of Financial Position for Prepaid Insurance? What type of account should this be? Show calculations.

(c) If no adjusting entry was made on 30 June, by how much would profit be overstated or understated? Would assets be overstated or understated? Explain.

(d) What would your adjusting entry in requirement A be if the premium of $9000 was recorded by debiting Insurance Expense?

Aikman Corporation has the following cost records for June 2020:

Indirect factory labour $ 4,500 Direct materials used 25,000 Work in process (6/1/16) 3,000 Work in process (6/30/16) 2,800 Finished goods (6/1/16) 5,000 Finished goods (6/30/16) 9,500 Factory utilities $  400 Depreciation, factory equipment 1,400 Direct labour 30,000 Maintenance, factory equipment 1,800 Indirect materials 2,200 Factory manager's salary 3,000

Instructions

(a) Prepare a cost of goods manufactured schedule for June 2020

(b) Prepare an income statement through gross profit for June 2020, assuming net sales are $87,100.

On 1 August 2020, Candy Ltd issued a disclosure document inviting applications for 10,000 of $80 debentures at par, payable in full on application. The debentures carry an 8% annual interest charge and will be redeemed at nominal value in 5 years. The interest payment is made semi-annually on 31 December and 30 June each year. By 30 September 2020, Candy Ltd received application money for 11,000 debentures. On 1 October 2020, Courtney Ltd issued 10,000 debentures and refunded monies to 1,000 unsuccessful applicants. Required: Prepare a general journal template as per example below based on the information above, for Candy Ltd for the year ended 30 June 2021. Include a narration.