You have been assigned to a development team that is building software that will be used to control the operations of a bicycle rental store. A rental store has a limited number of vehicles that can be managed. A bicycle rental store must maintain information about how many vehicles are available for rental. The bicycle rental store must provide publicly available methods to allow vehicles to be added and removed from it. The rental store should also provide publicly available methods that reports its capacity. An attempt to add or remove the vehicle other than it’s capacity should print the message letting user know that he/she can’t add or delete the vehicle (Hint: use “if” condition to check the number of vehicles. They shouldn’t be more that 5/5 each to add and less than 1 to delete). At the moment there are two distinct types of vehicles: bicycle and quadricycle (four-wheel bicycle). Every vehicle has a company code, a fun name, number of wheels and a rental price. The bicycle has two wheels whereas quadricycle has four. Define the Java classes that are required to implement the functionality that is described above. Be sure to use object-oriented principles in your Java code. Hints • Vehicle class, Bicycle class, Quadricycle class, RentalStore class. • Bicycle class and Quadricycle class inherits extends from Vehicle class • RentalStore class will have methods to show the total number of vehicles, add/delete Bicycle and add/delete Quadricycle • Rental class should have ArrayList • In general every class should have attributes, constructor and it’s methods. • Besides RentalStore class, all other classes should have toString() method . • Create TestClass that have Main() method. Bicycles: company code 0001, a fun name ( your choice), number of wheels : 2 and a rental price 150 company code 0002, a fun name ( your choice), number of wheels : 2 and a rental price 110 company code 0003, a fun name ( your choice), number of wheels : 2 and a rental price 50 company code 0004, a fun name ( your choice), number of wheels : 2 and a rental price 250 company code 0005, a fun name ( your choice), number of wheels : 2 and a rental price 90 quadricycle : company code 0011, a fun name ( your choice), number of wheels : 4 and a rental price 250 company code 0012, a fun name ( your choice), number of wheels : 4 and a rental price 110 company code 0013, a fun name ( your choice), number of wheels : 4 and a rental price 210 company code 0014, a fun name ( your choice), number of wheels : 4 and a rental price 210 company code 0015, a fun name ( your choice), number of wheels : 4 and a rental price 190 For this scenario, we will have 5 bicycles and 5 quadricycles (total of 10 vehicles). Add all those vehicles to an ArrayList. Find bicycles with price less than $100 and delete all of them. Find quadricycles with price less than $200 and delete all of them. At last, show to total number of remaining vehicles with their details.
In: Computer Science
Verify Login Page that either gives error when not meeting the requirement or directing it to "blogs.php" when it's a successful log in..
Hi, so this is actually my html code for the log in and sign up page and I just needed help creating a verify log in/ sign up page with exception handling. Username has to be at least 6 character long. Password has to be 6 characters long and end with a number.
Blogs.com
"
"index.html"
<!DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0
Transitional//EN"
"http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd">
<html xmlns="http://www.w3.org/1999/xhtml">
<head>
<meta http-equiv="Content-Type" content="text/html;
charset=utf-8" />
<title>Blogs.com</title>
</head>
<body>
<h2>Sign in </h2>
<p> Enter your username and password to sign
in!</p>
<form method="POST" action ="blogs.php">
<p> User Name <input type ="text"
name="username"/></p>
<p> Password <input type="text" name ="passwordname"
/></p>
<input type="submit" value= "Sign in"/></p>
</form>
<p> Sign up if you're a first time user!</p>
<form method="POST" action ="UserRegistration.php">
<input type="submit" value= "Sign up!"/></p>
<br /><br />
<script>
var date =new Date();
document.write("Today " ,date);
</br>
</script>
</body>
</html>
"UserRegistration"
<?php
session_start();
$_SESSION = array();
session_destroy();
?>
<!DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Strict//EN"
"http://www.w3.org/TR/xhtml1/DTD/xhtml1-strict.dtd">
<html
xmlns="http://www.w3.org/1999/xhtml">
<head>
<title>User Registration</title>
<meta
http-equiv="content-type" content="text/html; charset=iso-8859-1"
/>
</head>
<body>
<h1>User
Registration</h1>
<h2>Register / Log In</h2>
<p>New
user's, please complete the top form to register as a new user.
Returning user's, please complete
the second form to log in.</p>
<hr
/>
<h3>User
Registration</h3>
<form
method="post" action="Register.php?<?php echo SID;
?>">
<p>Enter your Name:
First <input type="text"
name="first" />
Last <input type="text"
name="last" />
</p>
<p>Enter your e-mail address:
<input type="text"
name="email" />
</p>
<p>Enter your password:
<input type="password"
name="password" />
</p>
<p>Confirm your password:
<input type="password"
name="password2" />
</p>
<p>
<em>(Passwords are
case-sensitive and must be at least 6 characters
long)</em>
</p>
<input type="reset" name="reset" value="Reset
Registration Form" />
<input type="submit" name="register"
value="Register" />
</form>
<hr
/>
<?php
$nag_counter = 0;
if(isset($_COOKIE['userVisit']))
$UserVisit = "<p>Your
visit number is $nag_counter was on " .
$_COOKIE['userVisit'];
else
$UserVisit = "<p>This
is your first visit!</p>\n";
++$nag_counter;
setcookie("userVisit", date("F j, Y, g:i a"),
time()+60*60*24*365);
?>
<?php
echo $UserVisit;
?>
</body>
</html>
"
In: Computer Science
The current sections of Ayayai Corp.’s balance sheets at
December 31, 2016 and 2017, are presented here. Ayayai Corp.’s net
income for 2017 was $168,453. Depreciation expense was
$29,727.
|
2017 |
2016 |
|||
|---|---|---|---|---|
|
Current assets |
||||
|
Cash |
$115,605 |
$ 108,999 |
||
|
Accounts receivable |
88,080 |
97,989 |
||
|
Inventory |
184,968 |
189,372 |
||
|
Prepaid expenses |
29,727 |
24,222 |
||
|
Total current assets |
$418,380 |
$420,582 |
||
|
Current liabilities |
||||
|
Accrued expenses payable |
$ 16,515 |
$ 5,505 |
||
|
Accounts payable |
93,585 |
101,292 |
||
|
Total current liabilities |
$110,100 |
$ 106,797 |
Prepare the net cash provided (used) by operating activities
section of the company’s statement of cash flows for the year ended
December 31, 2017, using the indirect method. (Show
amounts that decrease cash flow with either a - sign e.g. -15,000
or in parenthesis e.g. (15,000).)
|
Ayayai Corp. |
||
|---|---|---|
|
select an opening section name Cash at Beginning of PeriodCash at End of PeriodCash Flows from Financing ActivitiesCash Flows from Investing ActivitiesCash Flows from Operating ActivitiesNet Cash Provided by Financing ActivitiesNet Cash Provided by Investing ActivitiesNet Cash Provided by Operating ActivitiesNet Cash used by Financing ActivitiesNet Cash used by Investing ActivitiesNet Cash used by Operating ActivitiesNet Decrease in CashNet Increase in Cash |
||
|
select an item Decrease in Accounts PayableDecrease in Accounts ReceivableDecrease in Accrued Expenses PayableDecrease in InventoryDecrease in Prepaid ExpensesDepreciation ExpenseIncrease in Accounts PayableIncrease in Accounts ReceivableIncrease in Accrued Expenses PayableIncrease in InventoryIncrease in Prepaid ExpensesNet Income |
$enter a dollar amount |
|
|
Adjustments to reconcile net income to |
||
|
select an opening subsection name Cash at Beginning of PeriodCash at End of PeriodCash Flows from Financing ActivitiesCash Flows from Investing ActivitiesCash Flows from Operating ActivitiesNet Cash Provided by Financing ActivitiesNet Cash Provided by Investing ActivitiesNet Cash Provided by Operating ActivitiesNet Cash used by Financing ActivitiesNet Cash used by Investing ActivitiesNet Cash used by Operating ActivitiesNet Decrease in CashNet Increase in Cash |
||
|
select an item Decrease in Accounts PayableDecrease in Accounts ReceivableDecrease in Accrued Expenses PayableDecrease in InventoryDecrease in Prepaid ExpensesDepreciation ExpenseIncrease in Accounts PayableIncrease in Accounts ReceivableIncrease in Accrued Expenses PayableIncrease in InventoryIncrease in Prepaid ExpensesNet Income |
$enter a dollar amount |
|
|
select an item Decrease in Accounts PayableDecrease in Accounts ReceivableDecrease in Accrued Expenses PayableDecrease in InventoryDecrease in Prepaid ExpensesDepreciation ExpenseIncrease in Accounts PayableIncrease in Accounts ReceivableIncrease in Accrued Expenses PayableIncrease in InventoryIncrease in Prepaid ExpensesNet Income |
enter a dollar amount |
|
|
select an item Decrease in Accounts PayableDecrease in Accounts ReceivableDecrease in Accrued Expenses PayableDecrease in InventoryDecrease in Prepaid ExpensesDepreciation ExpenseIncrease in Accounts PayableIncrease in Accounts ReceivableIncrease in Accrued Expenses PayableIncrease in InventoryIncrease in Prepaid ExpensesNet Income |
enter a dollar amount |
|
|
select an item Decrease in Accounts PayableDecrease in Accounts ReceivableDecrease in Accrued Expenses PayableDecrease in InventoryDecrease in Prepaid ExpensesDepreciation ExpenseIncrease in Accounts PayableIncrease in Accounts ReceivableIncrease in Accrued Expenses PayableIncrease in InventoryIncrease in Prepaid ExpensesNet Income |
enter a dollar amount |
|
|
select an item Decrease in Accounts PayableDecrease in Accounts ReceivableDecrease in Accrued Expenses PayableDecrease in InventoryDecrease in Prepaid ExpensesDepreciation ExpenseIncrease in Accounts PayableIncrease in Accounts ReceivableIncrease in Accrued Expenses PayableIncrease in InventoryIncrease in Prepaid ExpensesNet Income |
enter a dollar amount |
|
|
select an item Decrease in Accounts PayableDecrease in Accounts ReceivableDecrease in Accrued Expenses PayableDecrease in InventoryDecrease in Prepaid ExpensesDepreciation ExpenseIncrease in Accounts PayableIncrease in Accounts ReceivableIncrease in Accrued Expenses PayableIncrease in InventoryIncrease in Prepaid ExpensesNet Income |
enter a dollar amount |
|
|
enter a total amount for this subsection |
||
|
select a closing section name Cash at Beginning of PeriodCash at End of PeriodCash Flows from Financing ActivitiesCash Flows from Investing ActivitiesCash Flows from Operating ActivitiesNet Cash Provided by Financing ActivitiesNet Cash Provided by Investing ActivitiesNet Cash Provided by Operating ActivitiesNet Cash used by Financing ActivitiesNet Cash used by Investing ActivitiesNet Cash used by Operating ActivitiesNet Decrease in CashNet Increase in Cash |
$enter a total amount for this section |
|
In: Accounting
Joseph P. Smith and his wife Gladys G. Smith are married and file a joint return for 2016. Joseph’s social security number is 499-99-4321 and he is 44 years old. Gladys social security number is 637-44-9876 and she is 43 years old. They live at 1502 Seaman Court,
Flemington, NJ 08822.
Mr. Smith is a construction worker employed by LLL Construction.
His form W-2 from LLL Construction showed the following:
Wages $42,000
Withholding (federal) 4,500
The Smiths have a 17-year old son, Jackson, who is enrolled in the eleventh grade at Flemington Perpetual Catholic School. Jackson’s social security number is 669-90-0099. The Smiths also have an 18-year old daughter, Lois, who is a full-time freshman at Oceanside Community College (OCC). Lois’s social security number is 669-90-0100. Mr. and Mrs. Smith also have full custody of Joseph’s nephew, Larry Loser (social security number 664-66-6688) who is 18 years old and a part-time student at OCC. All three of the children live at home, and Joseph and Gladys pay the majority of expenses for Jackson, Lois, and Larry (none of the children work).
Joseph and Gladys have the following investment income for 2016:
Interest from the Trustworthy Savings Bank $651
Dividends (qualified) Seaside Bank stock 150
Dividends (qualified) Seaside Gas Company stock 260
Dividends (non-qualified) Hot Mutual Fund 45
Interest on NJ State Municipal Bonds 750
Interest on Seaside Electric Company Bonds 675
Joseph went to the local casino and won $3800 playing the slot machines. The next day he decided to go back to the casino and unfortunately he spent (lost) $1550 that day.
One of Gladys friends died during the year and Gladys received $10,000 in life insurance proceeds.
In July, Joseph’s aunt died and left him a piece of real estate (undeveloped land) worth $65,000.
Five years ago, Joseph and Gladys were divorced. Joseph married Suzy Sunshine
(SS# 020-22-2222), but the marriage did not work out and they were divorced a year later. They had a child while married, Sara Sunshine (social security number 555-50-5588, age 7). Under the divorce decree, Joseph has to pay Suzy $18,000 per year until Sara reaches age 18 at which time the payment is reduced to $12,000 per year. Three years ago, Joseph and Gladys were remarried.
During 2016, Joseph spent $250 on safety glasses, $150 on steel toed work boots, $100 on a reflective vest to use while directing traffic, and $300 on jeans that he wears to work. He also spent $2250 on tools that he uses for work. LLL Construction gave him $1000 to use to purchase a demolition saw (not part of the $2250 spent on tools, and not included in his paycheck).
Joseph is tired of working in construction and went back to school, part time, in January. He spent $3600 on tuition to the local community college and has a 1098-T supporting that expense. He has never been enrolled in higher education prior to this time. He paid for the tuition using a student loan.
Gladys was laid off from her job on January 2, 2016 and received unemployment compensation of $12,000 during 2016.
Joseph and his family are covered under a health insurance plan provided by LLL Construction, and LLL pays $300 per month and Joseph pays $250 per month for this plan (the $250 is deducted pre-tax from Joseph’s paycheck). During the year, Gladys had an emergency appendectomy; the total bill was $22,500, the insurance covered $18,000 and Joseph and Gladys paid the remainder.
On September 1, 2016 Gladys took a job as a medical transcriptionist and works from home. She does her work on the dining room table. The house is 2000 square feet, and the dining room is 400 square feet. Her income and expenses follow:
Income (paid on a 1099-Misc) $19,050
Home office expenses (direct) $2600
Home office expenses (indirect, but not allocated) $12,000
Office expenses 1,380
Computer supplies 800
Telephone 300
Faxes (sent from Staples) 250
Internet service 480
In addition to the above items, Gladys incurred travel expenses to attend a seminar on medical transcription. She spent $1200 on airfare, $750 on lodging, $325 on a rental car, and $560 on meals. Gladys has documentation for these expenses.
Gladys drove her 2014 Land Rover 2,845 miles for business related purposes, and the vehicle was driven a total of 8,646 miles during the year. Gladys uses the standard mileage rates and has substantiation for the mileage.
In July, Joseph loaned a fried $5,000 to purchase a car. His friend lost his job in 2016 and has not made any payments on the loan. He plans to start making payments again, however, with additional interest as soon as he has new employment.
Joseph and Gladys paid the following in 2016 (all by check or can otherwise be substantiated):
Contributions to Flemington Perpetual Catholic Church $2600
Tuition to the Flemington Perpetual Catholic School (for Jackson) 5,000
Clothes to the Salvation Army (10 bags in good condition) 275
Contributions to George Kerry’s Congressional campaign 250
Psychotherapy for Gladys 1,000
Eyeglasses for Jackson 375
Prescription medication and drugs 1,850
Credit card interest 1,345
Interest on Glady’s student loans 3,125
Investment interest on stock margin account 345
Auto loan interest 900
Auto insurance 1,600
Dave Deduction, CPA, for preparation of last year’s tax return 200
Safe deposit rental for storage of stocks and tax data 100
Contribution to educational savings account for Jackson 1,000
Home mortgage interest 6,910
Home property (real estate) taxes 4,400
In June, a hurricane destroyed a large shed on their property. The insurance company paid $6500 to replace the shed, but Joseph built a new shed himself for $1800.
Joseph’s grandfather died and left a portfolio of municipal bonds. In 2016 Joseph received $20,000 in tax-free interest (ignore AMT tax calculations).
On July 14, Joseph and Gladys purchased a second house to use as a rental property. They paid $130,000 for the property (the land value, included in the $130,000, is $30,000). They collected rent of $8000 during the year, and paid real estate taxes of $2600, mortgage interest of $1600, repairs of $750, and $600 advertising the property for rent.
Joseph owned 1,000 shares of Really Huge Airline stock with a basis of $30 per share. The stock was purchased six years ago on June 10. Joseph sells 500 shares of Really Huge Airline stock to his uncle Geovanni and 500 shares to his sister Pristine for $5 per share on December 31, 2016. The market price of Really Huge Airline stock on December 31, 2016 was $35 per share.
Joseph purchased 5 acres of raw land in Speculator, NY, 10 years ago. His basis in the land was $90,000. On August 1, 2016 he sold the land for $150,000.
On May 15, 2016 Joseph and Gladys sold their personal residence for $585,150 and purchased a new house for $485,000. They had owned the old house for 5 years and Gladys had inherited it when her mother passed away. Her mother had paid $17,000 for it when she purchased it many years ago, and it had a market value of $525,000 when she passed away) The house had been their personal residence ever since Gladys mother passed away. They moved into the new house on May 18, 2016.
Joseph sold the following securities during the year and received a 1099-B that showed the following information:
Security Description Purchased Sold Selling Price Adjusted Basis
Orange Inc. 100 shares 02/11/97 04/16/16 $3,080 $4,550
Blue, Inc. 100 shares 07/17/01 07/31/16 $2,000 $3,600
Red (Preferred) 100 shares 12/08/15 09/25/2016 $8,975 $10,510
Plum (Bonds) due 4/2015 12/30/05 01/02/2016 $5,155 $5,320
Peach Mutual Fund 5,010 shares 05/30/06 10/22/2016 $60,120 $56,480
The selling price is net of sales commissions. In addition to the above amounts, the Hot Mutual Fund distributed a long-term capital gain of $450 on December 30, 2016.
To do:
Using the information above, complete the 1040 form for Joseph and Gladys including all additional forms and schedules. You may use tax software or can access the required forms on the IRS.gov website. Please use 2016 forms.
In: Accounting
C++ Bank Account Error Fix, full code. I am using Dev-C++ to Compile and Execute.
The project is below, I have supplied the code and I'm getting an error in SavingsAccount.h file.
17 5 C:\Users\adam.brunell\Documents\Classes\C++\Week4\SavingsAccount.h [Error] 'SavingsAccount::SavingsAccount(std::string, double, double)' is protected
A.Assume
i.SavingsAccount: Assume an Interest Rate of 0.03
ii.HighInterestSavings: Assume an Interest Rate of 0.05, Minimum Balance = $2500
iii.NoServiceChargeChecking: Assume an Interest Rate = 0.02, Minimum of Balance = $1000
iv.ServiceChargeChecking – Assume account service charge = $10, Maximum number of checks = 5, Service Charge if customer exceeds the maximum number of checks = $5.
v.NoServicechargeChecking: Assume an interest rate = 0.02, Minimum Balance = $1000
vi.HighInterestChecking: Assume an interest rate = 0.05, Minimum Balance = $5000
vii.CertificateOfDepsit: Assume an interest rate = 0.05, Initial Number of Maturity Months = 6
B.Capitalize the first letter of the derived class names.
C.Use the following driver to validate your program:
#include
#include
#include
#include "bankAccount.h"
#include "SavingsAccount.h"
#include "HighInterestSavings.h"
#include "NoServiceChargeChecking.h"
#include "ServiceChargeChecking.h"
#include "HighInterestChecking.h"
#include "CertificateOfDeposit.h"
#include "checkingAccount.h"
using namespace std;
int main()
{
vector accountsList;
//SavingsAccount( Name, Account number, Balance ) - Assume an interest rate = 0.03
accountsList.push_back(new SavingsAccount("Bill", 10200, 2500));
//HighInterestSavings(Name, Account Number, Balance) -- Assume an interest rate = 0.05, Minimum balance = $2500
accountsList.push_back(new HighInterestSavings("Susan", 10210, 2000));
//NoServiceChargeChecking(Name, Account Number, Balance) -- Assume an interest rate = 0.02, Minimum balance = $1000
accountsList.push_back(new NoServiceChargeChecking("John", 20100,
3500));
//ServiceChargeChecking(Name, Account Number, Balance) -- Assume account service charge = $10, Maximum number of checks = 5, Service Charee Excess Number of Checks = $5
accountsList.push_back(new ServiceChargeChecking("Ravi", 30100, 1800));
//HighIntererestChecking(Name, Account Number, Balance) - Assume an inerest rate = 0.05, Minimum balance = $5000
accountsList.push_back(new HighInterestChecking("Sheila", 20200, 6000));
//Certificate(name, Account Number, Balance, Interest Rate, Number of Months) - Assume an initial interest rate = 0.05, Initial Number of Maturity Months = 6
accountsList.push_back(new CertificateOfDeposit("Hamid", 51001, 18000,
0.075, 18));
cout << "January:\n-------------" << endl;
for (int i = 0; i < accountsList.size(); i++)
{
accountsList[i]->createMonthlyStatement();
accountsList[i]->print();
cout << endl;
}
cout << "\nFebruary:\n-------------" << endl;
for (int i = 0; i < accountsList.size(); i++)
{
accountsList[i]->createMonthlyStatement();
accountsList[i]->print();
cout << endl;
}
for (int i = 0; i < accountsList.size(); i++)
{
accountsList[i]->withdraw(500);
}
cout << "\nMarch:\n-------------" << endl;
for (int i = 0; i < accountsList.size(); i++)
{
accountsList[i]->createMonthlyStatement();
accountsList[i]->print();
cout << endl;
}
System(“pause”);
return 0;
}
The Expected Output is:
January:
-------------
Savings account: Bill ACCT# 10200 Balance: $2575.00
High Interest Savings: Susan ACCT# 10210 Balance: $2100.00
No Service Charge Check. John ACCT# 20100 Balance: $3500.00
Service Charge Checking: Ravi ACCT# 30100 Balance: $1790.00
Higher Interest Checking: Sheila ACCT# 20200 Balance: $6300.00
Certificate of Deposit: Hamid ACCT# 51001 Balance: $19350.00
February:
-------------
Savings account: Bill ACCT# 10200 Balance: $2652.25
High Interest Savings: Susan ACCT# 10210 Balance: $2205.00
No Service Charge Check. John ACCT# 20100 Balance: $3500.00
Service Charge Checking: Ravi ACCT# 30100 Balance: $1780.00
Higher Interest Checking: Sheila ACCT# 20200 Balance: $6615.00
Certificate of Deposit: Hamid ACCT# 51001 Balance: $20801.25
March:
-------------
Savings account: Bill ACCT# 10200 Balance: $2216.82
High Interest Savings: Susan ACCT# 10210 Balance: $2315.25
No Service Charge Check. John ACCT# 20100 Balance: $3000.00
Service Charge Checking: Ravi ACCT# 30100 Balance: $1270.00
Higher Interest Checking: Sheila ACCT# 20200 Balance: $6420.75
Certificate of Deposit: Hamid ACCT# 51001 Balance: $22361.34
Press any key to continue . . .
//testdriver.cpp
#include
#include
#include
#include "bankAccount.h"
#include "SavingsAccount.h"
#include "HighInterestSavings.h"
#include "NoServiceChargeChecking.h"
#include "ServiceChargeChecking.h"
#include "HighInterestChecking.h"
#include "CertificateOfDeposit.h"
#include "checkingAccount.h"
using namespace std;
int main()
{
vector accountsList;
//SavingsAccount( Name, Account number, Balance ) -
Assume an interest rate = 0.03
accountsList.push_back(new SavingsAccount("Bill", 10200,
2500));
//HighInterestSavings(Name, Account Number,
Balance) -- Assume an interest rate = 0.05, Minimum balance =
$2500
accountsList.push_back(new HighInterestSavings("Susan", 10210,
2000));
//NoServiceChargeChecking(Name, Account Number,
Balance) -- Assume an interest rate = 0.02, Minimum balance =
$1000
accountsList.push_back(new NoServiceChargeChecking("John",
20100,
3500));
//ServiceChargeChecking(Name, Account Number,
Balance) -- Assume account service charge = $10, Maximum number of
checks = 5, Service Charee Excess Number of Checks = $5
accountsList.push_back(new ServiceChargeChecking("Ravi", 30100,
1800));
//HighIntererestChecking(Name, Account Number,
Balance) - Assume an inerest rate = 0.05, Minimum balance =
$5000
accountsList.push_back(new HighInterestChecking("Sheila", 20200,
6000));
//Certificate(name, Account Number, Balance,
Interest Rate, Number of Months) - Assume an initial interest rate
= 0.05, Initial Number of Maturity Months = 6
accountsList.push_back(new CertificateOfDeposit("Hamid", 51001,
18000,
0.075, 18));
cout << "January:\n-------------" << endl;
for (int i = 0; i < accountsList.size(); i++)
{
accountsList[i]->createMonthlyStatement();
accountsList[i]->print();
cout << endl;
}
cout << "\nFebruary:\n-------------" << endl;
for (int i = 0; i < accountsList.size(); i++)
{
accountsList[i]->createMonthlyStatement();
accountsList[i]->print();
cout << endl;
}
for (int i = 0; i < accountsList.size(); i++)
{
accountsList[i]->withdraw(500);
}
cout << "\nMarch:\n-------------" << endl;
for (int i = 0; i < accountsList.size(); i++)
{
accountsList[i]->createMonthlyStatement();
accountsList[i]->print();
cout << endl;
}
System("pause");
return 0;
}
bankAccount.h
#ifndef BANKACCOUNT_H
#define BANKACCOUNT_H
#include
using namespace std;
class bankAccount {
public:
bankAccount(string name, double initialBalance);
string getName();
unsigned int getAccountNumber();
double getBalance();
double getInterestRate();
string getStatementString();
void deposit(double amount);
void deposit(double amount, string statement);
void withdraw(double amount);
void withdraw(double amount, string statement);
virtual void printStatement() = 0;
protected:
void addStatementLine(string statement, double amount);
private:
string name;
unsigned int accountNumber;
double balance;
static unsigned int nextAccountNumber;
string statementString;
};
#endif /* BANKACCOUNT_H */
//bankAccount.cpp
#include "bankAccount.h"
#include
#include
#include
using namespace std;
unsigned int BankAccount::nextAccountNumber = 1;
BankAccount::BankAccount(string name, double initialBalance)
{
stringstream output;
this->name = name;
balance = initialBalance;
accountNumber = nextAccountNumber++;
output << setw(60) << left << "Transaction"
<< setw(10) << "Amount" << " " << "Balance"
<< endl;
statementString = output.str();
addStatementLine("Initial Deposit", initialBalance);
}
string BankAccount::getName()
{
return name;
}
unsigned int BankAccount::getAccountNumber()
{
return accountNumber;
}
double BankAccount::getBalance()
{
return balance;
}
void BankAccount::addStatementLine(string statement, double
amount)
{
stringstream output;
output << setw(60) << left << statement <<
setw(10) << amount << " " << getBalance()
<< endl;
//.append(statement);
statementString.append(output.str());
}
void BankAccount::deposit(double amount)
{
deposit(amount, "Deposit");
}
void BankAccount::deposit(double amount, string statement)
{
balance += amount;
addStatementLine(statement, amount);
}
void BankAccount::withdraw(double amount)
{
withdraw(amount, "Withdrawal");
}
void BankAccount::withdraw(double amount, string
statement)
{
if (balance >= amount)
{
balance -= amount;
addStatementLine(statement, amount);
}
else
{
addStatementLine(statement.append(" Overdraft"), amount);
}
}
string BankAccount::getStatementString()
{
return statementString;
}
//CertificateOfDeposit.h
#ifndef CERTIFICATEOFDEPOSIT_H
#define CERTIFICATEOFDEPOSIT_H
#include "bankAccount.h"
#include
using namespace std;
class CertificateOfDeposit : public bankAccount{
public:
CertificateOfDeposit(string name, double initialBalance, int
maturityMonths);
CertificateOfDeposit(string name, double initialBalance);
int getMaturityMonths();
double getInterestRate();
int getCurrentCDMonth();
int getWithdrawalPenaltyMonths();
void withdraw();
void incrementMonth();
void printStatement();
private:
int maturityMonths;
double interestRate;
int currentCDMonth;
int withdrawalPenaltyMonths;
void withdraw(double amount);
void withdraw(double amount, string statement);
void deposit(double amount);
};
#endif /* CERTIFICATEOFDEPOSIT_H */
//CertificateOfDeposit.cpp
#include "CertificateOfDeposit.h"
CertificateOfDeposit::CertificateOfDeposit(string name, double
initialBalance, int maturityMonths) : bankAccount(name,
initialBalance)
{
this->maturityMonths = maturityMonths;
interestRate = 0.05;
currentCDMonth = 0;
withdrawalPenaltyMonths = 3;
}
CertificateOfDeposit::CertificateOfDeposit(string name, double
initialBalance) : bankAccount(name, initialBalance)
{
maturityMonths = 6;
interestRate = 0.05;
currentCDMonth = 0;
withdrawalPenaltyMonths = 3;
}
int CertificateOfDeposit::getCurrentCDMonth()
{
return currentCDMonth;
}
double CertificateOfDeposit::getInterestRate()
{
return interestRate;
}
int CertificateOfDeposit::getWithdrawalPenaltyMonths()
{
return withdrawalPenaltyMonths;
}
int CertificateOfDeposit::getMaturityMonths()
{
return maturityMonths;
}
void CertificateOfDeposit::withdraw()
{
if (getCurrentCDMonth() < getMaturityMonths())
bankAccount::withdraw(getBalance()*getInterestRate()*getWithdrawalPenaltyMonths(),
"Early Withdrawal Penalty");
bankAccount::withdraw(getBalance(), "Close Account");
}
void CertificateOfDeposit::incrementMonth()
{
bankAccount::deposit(getBalance()*getInterestRate(), "Monthly
Interest");
if (getCurrentCDMonth() < getMaturityMonths())
{
currentCDMonth++;
}
else
withdraw();
}
void CertificateOfDeposit::printStatement()
{
cout << "Certificate of Deposit Statement" <<
endl;
cout << "Name: " << getName() << endl;
cout << "Account Number: " << getAccountNumber()
<< endl;
cout << "Interest Rate: " << getInterestRate() * 100
<< "%" << endl;
cout << "Maturity Month: " << getMaturityMonths()
<< ", Current Month: " << getCurrentCDMonth() <<
endl;
cout << "Early Withdrawal Penalty: " <<
getWithdrawalPenaltyMonths() << " (months)" << endl
<< endl;
cout << getStatementString() << endl;
cout << "Final Balance: " << getBalance() << endl
<< endl;
}
//HighInterestChecking.h
#ifndef HIGHINTERESTCHECKING_H
#define HIGHINTERESTCHECKING_H
#include "NoServiceChargeChecking.h"
#include
using namespace std;
class HighInterestChecking : public NoServiceChargeChecking
{
public:
HighInterestChecking(string name, double initialBalance);
void printStatement();
private:
};
#endif /* HIGHINTERESTCHECKING_H */
//HighInterestChecking.cpp
#include "HighInterestChecking.h"
HighInterestChecking::HighInterestChecking(string name, double
initialBalance) : NoServiceChargeChecking(name, initialBalance,
5000, 0.05)
{
}
void HighInterestChecking::printStatement()
{
bankAccount::deposit(getBalance() * getInterestRate(),
"Interest");
cout << "High Interest Checking Statement" <<
endl;
cout << "Name: " << getName() << endl;
cout << "Account Number: " << getAccountNumber()
<< endl;
cout << "Interest Rate: " << getInterestRate() * 100
<< "%" << endl;
cout << "Minimum Balance: " << getMinimumBalance()
<< endl << endl;
cout << getStatementString() << endl;
cout << "Final Balance: " << getBalance() << endl
<< endl;
}
//HighInterestSavings.h
#ifndef HIGHINTERESTSAVINGS_H
#define HIGHINTERESTSAVINGS_H
#include "SavingsAccount.h"
#include
using namespace std;
class HighInterestSavings : public SavingsAccount{
public:
HighInterestSavings(string name, double initialBalance);
int getMinimumBalance();
void printStatement();
void withdraw(double amount, string statement);
void withdraw(double amount);
private:
int minimumBalance;
};
#endif /* HIGHINTERESTSAVINGS_H */
//HighInterestSavings.cpp
#include "HighInterestSavings.h"
HighInterestSavings::HighInterestSavings(string name, double
initialBalance) : SavingsAccount(name, initialBalance, 0.05)
{
minimumBalance = 2500;
}
int HighInterestSavings::getMinimumBalance()
{
return minimumBalance;
}
void HighInterestSavings::withdraw(double amount, string
statement)
{
if (amount + getMinimumBalance() <= getBalance())
{
bankAccount::withdraw(amount, statement);
}
else
{
addStatementLine(statement.append(" Overdraft. Below Minimum
Balance."), amount);
}
}
void HighInterestSavings::withdraw(double amount)
{
withdraw(amount, "Withdrawal");
}
void HighInterestSavings::printStatement()
{
bankAccount::deposit(getBalance() * getInterestRate(),
"Interest");
cout << "High Interest Savings Account Statement" <<
endl;
cout << "Name: " << getName() << endl;
cout << "Account Number: " << getAccountNumber()
<< endl;
cout << "Minimum Balance: " << getMinimumBalance()
<< endl;
cout << "Interest Rate: " << getInterestRate() * 100
<< "%" << endl << endl;
cout << getStatementString() << endl;
cout << "Final Balance: " << getBalance() << endl
<< endl;
}
//NoServiceChargeChecking.h
#ifndef NOSERVICECHARGECHECKING_H
#define NOSERVICECHARGECHECKING_H
#include "checkingAccount.h"
#include
using namespace std;
class NoServiceChargeChecking : public CheckingAccount {
public:
NoServiceChargeChecking(string name, double initialBalance);
void writeCheck(double amount, int checkNumber);
void printStatement();
void withdraw(double amount, string statement);
void withdraw(double amount);
double getInterestRate();
int getMinimumBalance();
protected:
NoServiceChargeChecking(string name, double initialBalance, int
minBalance, double interestRate);
private:
double interestRate;
int minimumBalance;
};
#endif /* NOSERVICECHARGECHECKING_H */
//NoServiceChargeChecking.cpp
#include "NoServiceChargeChecking.h"
#include
#include
NoServiceChargeChecking::NoServiceChargeChecking(string name,
double initialBalance) : checkingAccount(name,
initialBalance)
{
minimumBalance = 1000;
this->interestRate = 0.02;
}
NoServiceChargeChecking::NoServiceChargeChecking(string name,
double initialBalance, int minBalance, double interestRate) :
checkingAccount(name, initialBalance)
{
minimumBalance = minBalance;
this->interestRate = interestRate;
}
void NoServiceChargeChecking::writeCheck(double amount, int
checkNumber)
{
stringstream output;
output << "Check #" << checkNumber;
withdraw(amount, output.str());
}
void NoServiceChargeChecking::withdraw(double amount, string
statement)
{
if (amount + getMinimumBalance() <= getBalance())
{
bankAccount::withdraw(amount, statement);
}
else
{
addStatementLine(statement.append(" Overdraft. Below Minimum
Balance."), amount);
}
}
void NoServiceChargeChecking::withdraw(double amount)
{
withdraw(amount, "Withdrawal");
}
void NoServiceChargeChecking::printStatement()
{
bankAccount::deposit(getBalance() * getInterestRate(),
"Interest");
cout << "No Service Charge Checking Statement" <<
endl;
cout << "Name: " << getName() << endl;
cout << "Account Number: " << getAccountNumber()
<< endl;
cout << "Interest Rate: " << getInterestRate() * 100
<< "%" << endl;
cout << "Minimum Balance: " << getMinimumBalance()
<< endl << endl;
cout << getStatementString() << endl;
cout << "Final Balance: " << getBalance() << endl
<< endl;
}
int NoServiceChargeChecking::getMinimumBalance()
{
return minimumBalance;
}
double NoServiceChargeChecking::getInterestRate()
{
return interestRate;
}
//checkingAccount.h
#ifndef CHECKINGACCOUNT_H
#define CHECKINGACCOUNT_H
#include "bankAccount.h"
class CheckingAccount : public bankAccount {
public:
CheckingAccount(string name, double initialBalance);
virtual void writeCheck(double amount, int checkNumber) = 0;
private:
};
#endif /* CHECKINGACCOUNT_H */
//checkingAccount.cpp
#include "checkingAccount.h"
CheckingAccount::CheckingAccount(string name, double
initialBalance) : bankAccount(name, initialBalance)
{
}
//SavingsAccount.h
#ifndef SAVINGSACCOUNT_H
#define SAVINGSACCOUNT_H
#include "bankAccount.h"
#include
#include
using namespace std;
class SavingsAccount : public bankAccount
{
public:
SavingsAccount(string name, double initialBalance);
double getInterestRate();
void printStatement();
protected:
SavingsAccount(string name, double initialBalance, double
interestRate);
private:
double interestRate;
};
#endif /* SAVINGSACCOUNT_H */
//SavingsAccount.cpp
#include "SavingsAccount.h"
SavingsAccount::SavingsAccount(string name, double
initialBalance) : bankAccount(name, initialBalance)
{
interestRate = 0.03;
}
SavingsAccount::SavingsAccount(string name, double
initialBalance, double interestRate) : bankAccount(name,
initialBalance)
{
this->interestRate = interestRate;
}
double SavingsAccount::getInterestRate()
{
return interestRate;
}
void SavingsAccount::printStatement()
{
bankAccount::deposit(getBalance() * getInterestRate(),
"Interest");
cout << "Savings Account Statement" << endl;
cout << "Name: " << getName() << endl;
cout << "Account Number: " << getAccountNumber()
<< endl;
cout << "Interest Rate: " << getInterestRate() * 100
<< "%" << endl << endl;
cout << getStatementString() << endl;
cout << "Final Balance: " << getBalance() << endl
<< endl;
}
//ServiceChargeChecking.h
#ifndef SERVICECHARGECHECKING_H
#define SERVICECHARGECHECKING_H
#include "checkingAccount.h"
#include
using namespace std;
class ServiceChargeChecking : public CheckingAccount {
public:
ServiceChargeChecking(string name, double initialBalance);
void writeCheck(double amount, int checkNumber);
void printStatement();
private:
int checksWritten;
static const int CHECK_LIMIT = 5;
static const int SERVICE_CHARGE = 10;
};
#endif /* SERVICECHARGECHECKING_H */
//ServiceChargeChecking.cpp
#include "ServiceChargeChecking.h"
#include
#include
using namespace std;
ServiceChargeChecking::ServiceChargeChecking(string name, double
initialBalance) : CheckingAccount(name, initialBalance)
{
bankAccount::withdraw(SERVICE_CHARGE, "Service Charge");
checksWritten = 0;
}
void ServiceChargeChecking::writeCheck(double amount, int
checkNumber)
{
stringstream output;
if (++checksWritten <= CHECK_LIMIT)
{
output << "Check #" << checkNumber;
bankAccount::withdraw(amount, output.str());
}
else
{
output << "Maximum Limit of Checks Reached. Check # "
<< checkNumber << " bounced";
addStatementLine(output.str(), amount);
}
}
void ServiceChargeChecking::printStatement()
{
cout << "Service Charge Checking Statement" <<
endl;
cout << "Name: " << getName() << endl;
cout << "Account Number: " << getAccountNumber()
<< endl << endl;
cout << getStatementString() << endl;
cout << "Final Balance: " << getBalance() << endl
<< endl;
}
Receiving Error in SavingsAccount.h
17 5 C:\Users\adam.brunell\Documents\Classes\C++\Week4\SavingsAccount.h [Error] 'SavingsAccount::SavingsAccount(std::string, double, double)' is protected
In: Computer Science
Please correct chosen answers if incorrect.
22) d
23) c
24) c
22) Which of the following is not true regarding event rates:
a. an event can be anything such as Chicago Cubs winning the World Series
b. event rates are seldom used as they only provide data of nominal significance
c. event rate is statistical term that describes how often an event occurs
d. the formula for event rate is the number of times the event occurs, divided by the number of possible times the event could occur
23) Which of the following statements is not true regarding data collection:
a. often times, in our field, we collect data to help us infer or hypothesize about any number of things including treatments, prevention, occurrences, etc
b. collecting count data may be on one single sample or cohort, due to any number of reasons
c. when data is collected on count data, e call the outcome of that collection, results
. in single group studies, control groups are the standard
24) Which of the following statements is true:
a. comparisons between age-adjusted rates can only be useful if the same standard population is used in the creation of the age-adjusted rates
b. event rates are never seen as something which is important in public health except in epidemiological concerns
c. count data is something that is important when considering data gathered on vampires
d. person-time is often used in epidemiological studies in the veterinary sciences
In: Math
Show your numerical answer(s) and the Excel function(s) and inputs you used to get the answer. You may use up to 25 words (50 for #4) to supplement your numbers, tables and Excel functions.
1. State Retirement Funding (5 points – 1 page with table, functions and 25 words)
A state retirement plan has been frozen. It is considered fully-funded, with $635,244,352.26 of assets on hand and makes payouts to 1,000 recipients. It assumes it will earn 7.5% per year on these assets. The most recent total payout was $50,000,000. Next year it will be $51,000,000, which includes a 2% COLA increase in benefits. This payout amount is scheduled to increase by 2% per year for inflation. All interest earned and payments occur at the end of the year. For this cohort of retirees the final payment will be made in exactly22 years from today. The fund balance at that time will be zero.
The effective rate for annuities like this is RATE = .
The PV was calculated as =PV(RATE,22,-50000000,0,0)
In: Finance
Comprehensive Problem 4
The following are the consolidated statement of earnings and the balance sheet of Home Depot, Inc and Subsidiaries.
| THE HOME DEPOT, INC. AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF EARNINGS |
|||||||||||
| Fiscal Year Ended(1) | |||||||||||
| amounts in millions, except per share data | January 31,2016 |
February 1, 2015 |
February 2, 2014 |
||||||||
| NET SALES | $ | 66,192 | $ | 71,299 | $ | 77,359 | |||||
| Cost of Sales | 43,752 | 47,292 | 51,341 | ||||||||
| GROSS PROFIT | 22,440 | 24,007 | 26,018 | ||||||||
| Operating Expenses: | |||||||||||
| Selling, General and Administrative | 15,886 | 17,828 | 17,051 | ||||||||
| Depreciation and Amortization | 1,703 | 1,770 | 1,692 | ||||||||
| Total Operating Expenses | 17,589 | 19,598 | 18,743 | ||||||||
| OPERATING INCOME | 4,851 | 4,409 | 7,275 | ||||||||
| Interest and Other (Income) Expense: | |||||||||||
| Interest and Investment Income | (27 | ) | (27 | ) | (87 | ) | |||||
| Interest Expense | 660 | 616 | 686 | ||||||||
| Other | (152 | ) | 152 | — | |||||||
| Interest and Other, net | 785 | 741 | 599 | ||||||||
| EARNINGS BEFORE PROVISION FOR INCOME TAXES | 4,066 | 3,668 | 6,676 | ||||||||
| Provision for Income Taxes | 1,361 | 1,259 | 2,409 | ||||||||
| NET EARNINGS | $ | 2,705 | $ | 2,409 | $ | 4,267 | |||||
| Weighted Average Common Shares | 1,579 | 1,642 | 1,728 | ||||||||
| BASIC EARNINGS PER SHARE | $ | 1.71 | $ | 1.65 | $ | 2.47 | |||||
| Diluted Weighted Average Common Shares | 1,591 | 1,650 | 1,589 | ||||||||
| DILUTED EARNINGS PER SHARE | $ | 1.70 | $ | 1.46 | $ | 2.69 | |||||
(1) Fiscal years ended January 31, 2016, February 1, 2015 and February 2, 2014 include 52 weeks.
| THE HOME DEPOT, INC. AND SUBSIDIARIES CONSOLIDATED BALANCE SHEETS |
|||||||
| amounts in millions, except share and per share data | January 31, 2016 |
February 1, 2015 |
|||||
| ASSETS | |||||||
| Current Assets: | |||||||
| Cash and Cash Equivalents | $ | 1,276 | $ | 1,238 | |||
| Receivables, net | 980 | 975 | |||||
| Merchandise Inventories | 10,253 | 10,743 | |||||
| Other Current Assets | 1,334 | 1,198 | |||||
| Total Current Assets | 13,843 | 14,154 | |||||
| Property and Equipment, at cost | 37,401 | 36,565 | |||||
| Less Accumulated Depreciation and Amortization | 11,785 | 10,168 | |||||
| Net Property and Equipment | 25,616 | 26,397 | |||||
| Goodwill | 1,177 | 1,134 | |||||
| Other Assets | 227 | 406 | |||||
| Total Assets | $ | 40,863 | $ | 42,091 | |||
| LIABILITIES AND STOCKHOLDERS’ EQUITY | |||||||
| Current Liabilities: | |||||||
| Short-Term Debt | $ | 370 | $ | 560 | |||
| Accounts Payable | 5,443 | 4,807 | |||||
| Accrued Salaries and Related Expenses | 1,250 | 1,127 | |||||
| Sales Taxes Payable | 343 | 330 | |||||
| Deferred Revenue | 1,152 | 1,149 | |||||
| Income Taxes Payable | 104 | 286 | |||||
| Current Installments of Long-Term Debt | 1,013 | 1,759 | |||||
| Other Accrued Expenses | 1,575 | 1,643 | |||||
| Total Current Liabilities | 11,250 | 11,661 | |||||
| Long-Term Debt, excluding current installments | 8,661 | 9,650 | |||||
| Other Long-Term Liabilities | 2,131 | 2,196 | |||||
| Deferred Income Taxes | 1,152 | 1,149 | |||||
| Total Liabilities | 23,194 | 24,656 | |||||
| STOCKHOLDERS’ EQUITY | |||||||
| Common Stock, par value $0.05; authorized: 10 billion shares; issued: 1.754 billion shares at January 31, 2016 and 1.733 billion shares at February 1, 2015; outstanding: 1.484 billion shares at January 31, 2016 and 1.537 billion shares at February 1, 2015 |
82 | 81 | |||||
| Paid-In Capital | 6,294 | 6,031 | |||||
| Retained Earnings | 11,529 | 11,784 | |||||
| Accumulated Other Comprehensive Income | 355 | 87 | |||||
| Treasury Stock, at cost, 270 million shares at January 31, 2016 and 196 million shares at February 1, 2015 |
(591 | ) | (374 | ) | |||
| Total Stockholders’ Equity | 17,669 | 17,435 | |||||
| Total Liabilities and Stockholders’ Equity | $ | 40,863 | $ | 42,091 | |||
Selected information as on February 2, 2014:
| Working capital | $ | 2,668 | ||
| Cash balance | $ | 1,280 | ||
| Total assets | $ | 44,404 | ||
| Stockholders' equity | $ | 17,684 | ||
rev: 04_07_2020_QC_CS-207273, CS-207274
Comprehensive Problem 4 Part 2
Assume that you are the credit manager of a medium-size supplier of building materials and related products. Home Depot wants to make credit purchases from your company, with payment due in 60 days.
Instructions:
a-1. Compute the current ratio for the fiscal years ending January 31, 2016, and February 1, 2015.
a-2. Compute the quick ratio for the fiscal years ending January 31, 2016, and February 1, 2015.
a-3. Compute the amount of working capital for the fiscal years ending January 31, 2016, and February 1, 2015.
a-4. Compute the percentage change in working capital from the prior year for the fiscal years ending January 31, 2016, and February 1, 2015.
a-5. Compute the percentage change in cash and cash equivalents from the prior year for the fiscal years ending January 31, 2016, and February 1, 2015.
In: Accounting
The marketing manager has recently completed a sales forecast. She believes the company’s sales will increase by 1 percent each month over the previous month’s sales from December 2015 through March 2016. Then sales are expected to remain constant for several months. Helping Hand’s projected balance sheet as of December 31, 2015 is as follows: Cash $ 60,000 Accounts receivable 172,530 Marketable securities 10,000 Inventory 39,784 Buildings and equipment (net of accumulated depreciation) 600,000 Total assets $ 882,314 Accounts payable $ 111,940 Sales commissions payable 4,040 Bond interest payable 8,000 Property taxes payable 0 Bonds payable (4%; due in 2020) 600,000 Common stock 100,000 Retained earnings 58,334 Total liabilities and stockholders' equity $ 882,314 The following information has been accumulated to assist with preparing the master budget for the first quarter of 2016: 1) Projected sales for November 2015 are $200,000. Credit sales are typically 90% of total sales.
5).Helping Hand’s credit experience indicates that 13% of credit sales are collected during the month of sale, 75% in the month following the sale, and 10% in the second month following the sale. Experience shows the remaining credit sales are uncollectible. 2 Helping Hand’s board of directors has indicated an intention to declare and pay dividends of $150,000 on the last day of each quarter.
6) The interest on any short-term borrowing will be paid when the loan is repaid. Interest on Helping Hand’s bonds is paid semiannually on February 28 and August 31 for the preceding sixmonth period.
7) Property taxes are paid quarterly on March 31, June 30, September 30, and December 31 for the preceding three-month period.
Required: Build a model to forecast Helping Hand Corp’s cash balance at March 31, 2016. Your model must contain the following master budget schedules. Round all amounts to the nearest dollar. Your model should allow you to change any of the assumptions provided above and easily recalculate the ending cash balance at March 31, 2016. The assumptions may be on a separate worksheet but all of the schedules below must be on one worksheet. 1) Sales budget: 2015 2016 November December January February March 1st Quarter Total sales Cash sales Sales on account
2) Cash receipts budget: 2016 January February March 1st Quarter Cash sales Cash collections from credit sales made during current month Cash collections from credit sales made during preceding month Cash collections from credit sales made during 2nd preceding month Total cash receipts
3) Purchases budget: 2015 2016 December January February March 1st Quarter Budgeted cost of goods sold Add: Desired ending inventory Total goods needed Less: Expected beginning inventory Purchases
4) Cash disbursements budget: 2016 January February March 1st Quarter Inventory purchases: Cash payments for purchases during the current month Cash payments for purchases during the preceding month Total cash payments for inventory purchases Other expenses: Sales salaries Advertising and promotion Administrative salaries Interest on bonds Property taxes Sales commissions Total cash payments for other expenses Total cash disbursements
.5) Summary cash
budget: 2016 January February
March 1st Quarter Cash receipts (sch
2) Less: Cash disbursements
(sch 4) Change in cash balance
during period due to
operations
Sale of marketable securities
(1/2/16) Proceeds from bank
loan (1/2/16) Purchase of
equipment Repayment of bank
loan (3/31/16) Interest on bank
loan Payment of
dividends Change in cash
balance during the month
Beginning cash balance Ending
cash balance
6) Prepare a memo to the president of Helping Hands Corp with at
least two recommendations on how the company can ensure it
completes the first quarter of 2016 with the minimum required cash
balance. You should provide a plan to support your recommendation.
For example, if you recommend an increase in sales, how can this be
attained. Be specific. You should provide specific financial
information for your recommendations utilizing your model (include
a model for each of your recommendations). For example, if the
company does X, the change in ending cash will be Y. Your model
will become the property of Helping Hands Corp. and should be
easy
In: Accounting
|
This problem consists of two parts |
|
Part I |
|
A portion of the Stockholders’ Equity section of Hatten Corporation’s balance sheet as of December 31, 2016, appears below. Dividends have not been paid for the years 2014 and 2015. There has been no change in the number of shares of stock issued and outstanding during these years. Assume that the board of directors of Hatten Corporation declares a dividend of $28,650 after completing operations for the year 2016. |
|
Stockholders’ Equity |
|||
|
Preferred Stock (10% cumulative, $50 par value, 2,000 shares authorized) |
|||
|
At Par Value (1,600 shares issued) |
$ |
80,000 |
|
|
Common Stock (no-par value, with stated value of $25, 20,000 shares authorized) |
|||
|
At Stated Value (15,000 shares issued) |
375,000 |
||
|
1. |
Compute the amount of the dividend distributed to preferred stockholders in 2014, 2015 & 2016. |
|
2. |
Compute the amount of the dividend to be paid on each share of preferred stock. (Round your "per share" value to 2 decimal places.) |
|
3. |
Compute the total amount of the dividend available to be distributed to common stockholders. |
|
4. |
Compute the amount of the dividend to be paid on each share of common stock. (Round your "per share" value to 2 decimal places.) |
|
5. |
Compute the amount of dividends in arrears (if any) that preferred stockholders may expect from future declarations of dividends. |
Part II
|
Use the information given in Part I to solve this part of the problem. Assume that the board of directors of Hatten Corporation has declared a dividend of $117,000 instead of $28,650 after operations for 2016 are completed. |
|
1. |
Compute the amount of the dividend distributed to preferred stockholders in 2014, 2015 & 2016. |
|
2. |
Compute the amount of the dividend to be paid on each share of preferred stock. (Round your "per share" value to 2 decimal places.) |
|
3. |
Compute the total amount of the dividend available to be distributed to common stockholders. |
|
4. |
Compute the amount of the dividend to be paid on each share of common stock. (Round your "per share" value to 2 decimal places.) |
|
5. |
Compute the amount of dividends in arrears (if any) that preferred stockholders may expect from future declarations of dividends. |
|
Analyze: |
|
Assume only Part 1 has transpired. If, in 2015, the board of directors declared a dividend of $51,000, what amount would be paid to preferred stockholders? |
This problem consists of two parts.
Part I
A portion of the Stockholders’ Equity section of Hatten Corporation’s balance sheet as of December 31, 2016, appears below. Dividends have not been paid for the years 2014 and 2015. There has been no change in the number of shares of stock issued and outstanding during these years. Assume that the board of directors of Hatten Corporation declares a dividend of $28,650 after completing operations for the year 2016.
Stockholders’ Equity
Preferred Stock (10% cumulative, $50 par value, 2,000 shares authorized)
At Par Value (1,600 shares issued) $ 80,000
Common Stock (no-par value, with stated value of $25, 20,000 shares authorized)
At Stated Value (15,000 shares issued) 375,000
1.
Compute the amount of the dividend distributed to preferred stockholders in 2014, 2015 & 2016.
2.
Compute the amount of the dividend to be paid on each share of preferred stock. (Round your "per share" value to 2 decimal places.)
3.
Compute the total amount of the dividend available to be distributed to common stockholders.
4.
Compute the amount of the dividend to be paid on each share of common stock. (Round your "per share" value to 2 decimal places.)
5.
Compute the amount of dividends in arrears (if any) that preferred stockholders may expect from future declarations of dividends.
Part II
Use the information given in Part I to solve this part of the problem. Assume that the board of directors of Hatten Corporation has declared a dividend of $117,000 instead of $28,650 after operations for 2016 are completed.
1.
Compute the amount of the dividend distributed to preferred stockholders in 2014, 2015 & 2016.
2.
Compute the amount of the dividend to be paid on each share of preferred stock. (Round your "per share" value to 2 decimal places.)
3.
Compute the total amount of the dividend available to be distributed to common stockholders.
4.
Compute the amount of the dividend to be paid on each share of common stock. (Round your "per share" value to 2 decimal places.)
5.
Compute the amount of dividends in arrears (if any) that preferred stockholders may expect from future declarations of dividends.
Analyze:
Assume only Part 1 has transpired. If, in 2015, the board of directors declared a dividend of $51,000, what amount would be paid to preferred stockholders?
In: Accounting