The table below shows the closing monthly stock prices for IBM and Amazon. Calculate the exponential three-month moving average for both stocks where two-thirds of the average weight is placed on the most recent price. (Do not round intermediate calculations. Round your answers to 2 decimal places.)

The table below shows the closing monthly stock prices for IBM and Amazon. Calculate the simple three-month moving average for each month for both companies. (Input all amounts as positive values. Do not round intermediate calculations. Round your answers to 2 decimal places.)

On October 1, 2018, Jay Crowley established Affordable Realty, which completed the following transactions during the month:

1. Jay Crowley transferred cash from a personal bank account to an account to be used for the business in exchange for Common Stock, $31,000.
2. Paid rent on office and equipment for the month, $5,730.
3. Purchased supplies on account, $1,690.
4. Paid creditor on account, $620.
5. Earned sales commissions, receiving cash, $26,040.
6. Paid automobile expenses (including rental charge) for month, $1,590, and miscellaneous expenses, $1070.
7. Paid office salaries, $3,330.
8. Determined that the cost of supplies used was $940.
9. Paid dividends, $1,540.
10. 1. Journalize entries for transactions (a) through (i) (in chronological order), using the following account titles: Cash, Supplies, Accounts Payable, Common Stock, Dividends, Sales Commissions, Rent Expense, Office Salaries Expense, Automobile Expense, Supplies Expense, Miscellaneous Expense. For a compound transaction, if an amount box does not require an entry, leave it blank. 2. Prepare T accounts, using the account titles in (1). Post the journal entries to these T accounts, selecting the appropriate letter to the left of each amount to identify the transactions. Determine the account balances of the T accounts (when required), after all posting is complete. Accounts containing a single entry only (such as Common Stock) do not need a balance.3. Prepare an unadjusted trial balance as of October 31, 2018. List all accounts in the order of Assets, Liabilities, Stockholders’ equity, Revenues, and Expenses. For those boxes in which no entry is required, leave the box blank.

    4. As a result of the January transactions (a-i), determine the following:

    a. Amount of total revenue recorded in the ledger.
    $

    b. Amount of total expenses recorded in the ledger.
    $

    c. Amount of net income for October.
    $

    5. Determine the increase or decrease in retained earnings for October.

During the last week of August, Oneida Company’s owner approaches the bank for a $108,500 loan to be made on September 2 and repaid on November 30 with annual interest of 9%, for an interest cost of $2,441. The owner plans to increase the store’s inventory by $60,000 during September and needs the loan to pay for inventory acquisitions. The bank’s loan officer needs more information about Oneida’s ability to repay the loan and asks the owner to forecast the store’s November 30 cash position. On September 1, Oneida is expected to have a $4,500 cash balance, $121,600 of net accounts receivable, and $100,000 of accounts payable. Its budgeted sales, merchandise purchases, and various cash disbursements for the next three months follow.

*Operations began in August; August sales were $160,000 and purchases were $120,000.

The budgeted September merchandise purchases include the inventory increase. All sales are on account. The company predicts that 24% of credit sales is collected in the month of the sale, 44% in the month following the sale, 21% in the second month, 8% in the third, and the remainder is uncollectible. Applying these percents to the August credit sales, for example, shows that $70,400 of the $160,000 will be collected in September, $33,600 in October, and $12,800 in November. All merchandise is purchased on credit; 40% of the balance is paid in the month following a purchase, and the remaining 60% is paid in the second month. For example, of the $120,000 August purchases, $48,000 will be paid in September and $72,000 in October.

Required:
Prepare a cash budget for September, October, and November. (Round your final answers to the nearest whole dollar.)

During the last week of August, Oneida Company’s owner approaches the bank for a $101,500 loan to be made on September 2 and repaid on November 30 with annual interest of 15%, for an interest cost of $3,806. The owner plans to increase the store’s inventory by $60,000 during September and needs the loan to pay for inventory acquisitions. The bank’s loan officer needs more information about Oneida’s ability to repay the loan and asks the owner to forecast the store’s November 30 cash position. On September 1, Oneida is expected to have a $4,000 cash balance, $114,000 of net accounts receivable, and $100,000 of accounts payable. Its budgeted sales, merchandise purchases, and various cash disbursements for the next three months follow.

*Operations began in August; August sales were $150,000 and purchases were $105,000.

The budgeted September merchandise purchases include the inventory increase. All sales are on account. The company predicts that 24% of credit sales is collected in the month of the sale, 44% in the month following the sale, 21% in the second month, 8% in the third, and the remainder is uncollectible. Applying these percents to the August credit sales, for example, shows that $66,000 of the $150,000 will be collected in September, $31,500 in October, and $12,000 in November. All merchandise is purchased on credit; 60% of the balance is paid in the month following a purchase, and the remaining 40% is paid in the second month. For example, of the $105,000 August purchases, $63,000 will be paid in September and $42,000 in October.

Required:
Prepare a cash budget for September, October, and November. (Round your final answers to the nearest whole dollar.)

Philip Spencer of the Spencer Corporation wants you to forecast the firm’s financing needs over the fourth quarter (October through December). He has made the following observations relative to planned cash receipts and disbursements:

Interest on a $75,000 bank note (principal due next March) at an 8 percent annual rate is payable in December for the three-month period just ended.

The firm follows a policy of paying no cash dividends.

Actual historical and future predicted sales are as follows:

The firm has a monthly rental expense of $5,000.

Wages and salaries for the coming months are estimated at $25,000 per month.

Of the firm’s sales, 25 percent is collected in the month of the sale, 35 percent one month after the sale, and the remaining 40 percent two months after the sale.

Merchandise is purchased one month before the sales month and is paid for in the month it is sold. Purchases equal 75 percent of sales.

Tax prepayments are made quarterly, with a prepayment of $10,000 in October based on earnings for the quarter ended September 30.

Utility costs for the firm average 3 percent of sales and are paid in the month they are incurred.

Depreciation expense is $20,000 annually.

Question 1 Prepare a monthly cash budget for the three-month period ending in December.

Question 2 If the firm’s beginning cash balance for the budget period is $7,000, and this is its desired minimum balance, determine when and how much the firm will need to borrow during the budget period. The firm has a $50,000 line of credit with its bank, with interest (10 percent annual rate) paid monthly. For example, interest on a loan taken out at the end of September would be paid at the end of October and every month thereafter, as long as the loan was outstanding.

During the last week of August, Oneida Company’s owner approaches the bank for a $103,000 loan to be made on September 2 and repaid on November 30 with annual interest of 15%, for an interest cost of $3,863. The owner plans to increase the store’s inventory by $60,000 during September and needs the loan to pay for inventory acquisitions. The bank’s loan officer needs more information about Oneida’s ability to repay the loan and asks the owner to forecast the store’s November 30 cash position. On September 1, Oneida is expected to have a $4,500 cash balance, $138,600 of net accounts receivable, and $100,000 of accounts payable. Its budgeted sales, merchandise purchases, and various cash disbursements for the next three months follow.

*Operations began in August; August sales were $180,000 and purchases were $110,000.

The budgeted September merchandise purchases include the inventory increase. All sales are on account. The company predicts that 23% of credit sales is collected in the month of the sale, 47% in the month following the sale, 19% in the second month, 7% in the third, and the remainder is uncollectible. Applying these percents to the August credit sales, for example, shows that $84,600 of the $180,000 will be collected in September, $34,200 in October, and $12,600 in November. All merchandise is purchased on credit; 60% of the balance is paid in the month following a purchase, and the remaining 40% is paid in the second month. For example, of the $110,000 August purchases, $66,000 will be paid in September and $44,000 in October.

Required:
Prepare a cash budget for September, October, and November. (Round your final answers to the nearest whole dollar.)

Maredo Leather Company manufactures top quality leather used by Roe and Adler, LLC in their manufacture of airplane seat covers. The production manager at Maredo has been under pressure from the company president to reduce the cost of conversion. In spite of several attempts to reduce conversion costs, they have remained more or less constant. Now the manager is faced with an upcoming meeting with the company president, where he will have to explain his failure to reduce conversion costs. The manager goes to the company controller with the following request. He explains that he is under pressure to reduce cost in the production process, but there is no way to reduce material costs. He explains that if he can just show a little progress in his meeting with the president then he can buy some time to try some other cost-saving measures. He asks the controller to raise the estimate of the percentage of completion of the ending inventory for the month to 60 percent. This will increase the number of equivalent units and the unit conversion cost will be a little lower. Use the following to answer the questions below:

October 1 Work-in-Process 400 units

Conversion 25% complete

Inventory costs as of Oct 1:

Leather $990

Dye 260

Conversion costs 300

Total $1,550

During October 7,600 leather fabric pieces were placed into production. A total of 7,000 leather fabric pieces were completed. The work-in-process inventory on October 31 consisted of 1,000 leather fabric pieces with were 50 percent complete as to conversion. The costs charged to production during October were:

Leather $19,990

Dye 5,250

Conversion costs 20,700

Total $45,850

-By how much would the managers suggested manipulation lower the unit conversion costs?

-What should the controller do?

-Discuss this situation in terms of ethics and cite specific ethical standards for managerial accountants.