In October, Nicole eliminated all existing inventory of cosmetic items. The trouble of ordering and tracking each product line had exceeded the profits earned. In December, a supplier asked her to sell a prepackaged spa kit. Feeling she could manage a single product line, Nicole agreed. Nicole’s Getaway Spa (NGS) would make monthly purchases from the supplier at a cost that included production costs and a transportation charge. NGS would keep track of its new inventory using a perpetual inventory system. On December 31, NGS purchased 20 units at a total cost of $5.30 per unit. Nicole purchased 20 more units at $7.30 in February. In March, Nicole purchased 20 units at $9.30 per unit. In May, 40 units were purchased at $9.10 per unit. In June, NGS sold 40 units at a selling price of $11.30 per unit and 50 units at $11.70 per unit.

4.value: 0.25 pointsRequired information Required: 1. State whether the transportation cost included in each purchase should be recorded as a cost of the inventory or immediately expensed. Cost of the Inventory Immediately Expensed

5.value:

2. Compute the Cost of Goods Available for Sale, Cost of Goods Sold, and Cost of Ending Inventory using the first-in, first-out (FIFO) method. (Round "Cost per Unit" to 2 decimal places.)

6.value:

4. Would a different inventory cost flow assumption allow Nicole’s Getaway Spa to better minimize its income tax?

The LIFO method would allow Nicole’s Getaway Spa to better minimize income tax. Product costs have been increasing, so LIFO will produce the highest Cost of Goods Sold, which results in the lowest Income before Income Tax Expense.

The FIFO method would allow Nicole’s Getaway Spa to better minimize income tax. Product costs have been increasing, so FIFO will produce the highest Cost of Goods Sold, which results in the lowest Income before Income Tax Expense.

Equipment Corporation incorporated was established on October 20, 1974. to comply with accounting requirements, the company uses an accrual method of accounting. Its accumulated earnings and profits as of December 31, 2016, were $1,200. It made cash distributions during its 2016 calendar tax year of $140,089. This consisted of $85,089 to preferred shareholders and $55,000 to common shareholders. The entire distribution to preferred shareholders is a taxable dividend. The $27,500 distribution on March 15, 2016, to common shareholders is a taxable dividend to extent of $27,318 (99.33%), and the $27,500 distribution on September 15, 2016, to common shareholders is a taxable dividend to the extent of $26,118 (94.97%).

The following profit and loss account appeared in the books of the Equipment Corporation for calendar year 2016. It is required to file Form 1120 and completes Form 1120-F (M-1 and M-2).

1. Please prepare Schedule M-1 for the Equipment Corporation using the financial information and the Form 1120 line items provided above.

2. Please prepare Schedule M-2 for the Equipment Corporation using the retained earning information provided. To accurately calculate and support the ending balance, please complete a Retained Earnings Reconciliation Table.

Bell Company, a manufacturer of audio systems, started its production in October 2020. For the preceding 3 years, Bell had been a retailer of audio systems. After a thorough survey of audio system markets, Bell decided to turn its retail store into an audio equipment factory.

Raw material costs for an audio system will total $75 per unit. Workers on the production lines are on average paid $14 per hour. An audio system usually takes 5 hours to complete. In addition, the rent on the equipment used to assemble audio systems amounts to $5,300 per month. Indirect materials cost $7 per system. A supervisor was hired to oversee production; her monthly salary is $3,700.

Factory janitorial costs are $1,600 monthly. Advertising costs for the audio system will be $9,100 per month. The factory building depreciation expense is $6,000 per year. Property taxes on the factory building will be $8,400 per year.

Assuming that Bell manufactures, on average, 1,000 audio systems per month, enter each cost item on your answer sheet, placing the dollar amount per month under the appropriate headings. Total the dollar amounts in each of the columns.

Compute the cost to produce one audio system

You are auditing payroll for the

Cast IronCast Iron

Technologies company for the year ended October​ 31,

20162016.

Included next are amounts from the​client's trial​ balance, along with comparative audited information for the prior year.

LOADING...

​(Click the icon to view the amounts from the trial​ balance.)                        

LOADING...

​(Click the icon to view the additional​ information.)

Requirements

​(Note 1: When computing the expected value of factory hourly​ payroll, you must take into consideration both the

44​%

wage increase and the

66​%

increase in the number of units produced and sold. Note​ 2: Use the increase in the

​10/31/20162016

preliminary sales balance over the

​10/31/20152015

audited sales balance to determine the expected value for sales commissions on

​10/31/20162016​.)

You have obtained the following information to help you perform preliminary analytical procedures for the payroll account balances.

PrintDone

On October, 13, 2011, the debtor, Carl Davis, purchased and took possession of a 2010 BMW 328i. The debtor granted a security interest in the car to the dealer in the purchase contract, which the dealer then assigned to BMW. On Dec. 24, 2011, the Department of Motor Vehicles issued a certificate of title for the car, noting BMW's security interest. BMW did not file a financing statement. On January24, 2012, less than 90 days after BMW's lien was noted on the certificate of title, the debtor petitioned for relief under Chapter 7 of the Bankruptcy Code, listing the car as the bankruptcy estate's only asset. The Trustee in Bankruptcy argued that BMW's security interest was never properly perfected since BMW never filed a financing statement, and was, therefore, inferior to its claim.

write a brief on behalf of Plaintiff or Defendant. Your grade will be based upon: (1) quality of writing(2) depth of analysis and legal reasoning(3)quality of research--you must cite at least one external source that guided the analysis. (4) demonstrated ability to use MSWord in an appropriate and professional manner

[I. Statement of the Facts (Brief recitation of the facts) II. Issue (Legal question) III. Application (Apply the law to the facts) IV. Decision (Conclusion)]

Maggie is a 61 year old female referred to home health OT on October 29th with a diagnosis of R Colles fracture. Maggie fell while shopping at her neighborhood department store on October 27th. The physician has ordered OT to evaluate and treat.

Often times the OT will be given the client’s name and diagnosis and little else. The information given above is typical of the information you may be given to start a case. With this information, the therapist can start to think about how the case should be approached.  

The stage of reasoning development should also be considered (novice - expert)

Even though the information given is minimal, there is much that you may already know about the case. Think about what you know already and what you will need to know to effectively manage the case. Consider your developmental stage/experience. You may have learned this information from school and/or from life experiences. To guide your analysis of what you do or do not know, answer the questions below:

• Do you know what a Colles fracture is? (procedural reasoning)

• Do you know what the clinical signs and symptoms of a Colles fracture are? Complicating factors? (procedural reasoning)

• Do you know the medical management for a Colles fracture? Precautions? (procedural reasoning)

• What is the prognosis of recovery post-Colles fracture? (procedural reasoning)

• What might this woman “look like” (client factors/clinical presentation) and be able to do 2 days post-Colles fracture? (procedural reasoning)

• Do you have an image of the capabilities of a 61-year old woman who goes shopping? (narrative reasoning)

• Might this image give you some indication of her prior level of function and roles as well as an idea of her discharge situation and goals? (conditional reasoning)

• Do you know her perception or how the woman feels about this injury? (interactive reasoning)

• Do you know what resources are available? physical, social and financial (pragmatic reasoning)

Income recognition for a contractor. On October 15, 2010, Flanikin Construction Company contracted to build a shopping center at a contract price of $180 million. The schedule of expected and actual cash collections and contract costs is as follows:

Year Cash collections from Customers Estimated and Actual Cost Incurred

2010 $36,000,000 $12,000,000

2011 45,000,000 36,000,000

2012 45,000,000 48,000,000

2013 54,000,000 24,000,000

   $180,000,000 $120,000,000

A) Calculate the amount of revenue, expense, and net income for each of the four years under the following revenue recognition methods:

(1)    Percentage-of-completion method.

(2)    Completed contract method.

B) Show the journal entries Flanikin will make in 2010, 2011, 2012, and 2013 for this contract. Flanikin accumulates contract costs in a Contract in Process account. Although the costs involve a mixture of cash payments, credits to assets, and credits to liability accounts, assume for purposes of this problem that all costs are recorded as credits to Accounts Payable.

C) Which method do you believe provides the better measure of Flanikin Construction Company’s performance under the contract? Why?

Can somebody please show me how to calculate this in EXCEL. Step by step excel calculations need to be shown with screenshots. Thank you.

On October 15, 2017, the board of directors of Ensor Materials Corporation approved a stock option plan for key executives. On January 1, 2018, 25 million stock options were granted, exercisable for 25 million shares of Ensor's $1 par common stock. The options are exercisable between January 1, 2021, and December 31, 2023, at 90% of the quoted market price on January 1, 2018, which was $20. The fair value of the 25 million options, estimated by an appropriate option pricing model, is $6 per option. Ensor chooses the option to recognize forfeitures only when they occur.

Ten percent (2.5 million) of the options were forfeited when an executive resigned in 2019. All other options were exercised on July 12, 2022, when the stock’s price jumped unexpectedly to $24 per share.

Required:
1. When is Ensor’s stock option measurement date?
2. Determine the compensation expense for the stock option plan in 2018. (Ignore taxes.)
3. & 5. Prepare the necessary journal entries.

On October 1, 2018, the Allegheny Corporation purchased machinery for $314,000. The estimated service life of the machinery is 10 years and the estimated residual value is $6,000. The machine is expected to produce 550,000 units during its life.

Required:
Calculate depreciation for 2018 and 2019 using each of the following methods. Partial-year depreciation is calculated based on the number of months the asset is in service.

1. Straight line.
2. Sum-of-the-years’-digits.
3. Double-declining balance.
4. One hundred fifty percent declining balance.
5. Units of production (units produced in 2018, 28,000; units produced in 2019, 43,000).

Calculate depreciation for 2018 and 2019 using straight line method. Partial-year depreciation is calculated based on the number of months the asset is in service.

Calculate depreciation for 2018 and 2019 using sum-of-the-years’ digits. Partial-year depreciation is calculated based on the number of months the asset is in service.

Calculate depreciation for 2018 and 2019 using double-declining balance. Partial-year depreciation is calculated based on the number of months the asset is in service.