LaFond Company analyzes its accounts receivable at December 31, 2016, and arrives at the aged categories below along with the percentages that are estimated as uncollectible.

At the beginning of the fourth quarter of 2016, there was a credit balance of $4,390 in the Allowance for Uncollectible Accounts. During the fourth quarter, LaFond Company wrote off $3,790 in receivables as uncollectible.

a. What amount of bad debts expense will LaFond report for 2016?
$Answer

Incorrect
Mark 0.00 out of 1.00

b. What is the balance of accounts receivable that it reports on its December 31, 2016, balance sheet?
$Answer

Incorrect
Mark 0.00 out of 1.00

c. Set up T-accounts for both Bad Debts Expense and for the Allowance for Uncollectible Accounts. Enter any unadjusted balances along with the dollar effects of the information described (including your results from parts a and b).

The following transactions apply to Jova Company for Year 1, the first year of operation:

1. Issued $17,500 of common stock for cash.

2. Recognized $62,500 of service revenue earned on account.

3. Collected $56,000 from accounts receivable.

4. Paid operating expenses of $36,800.

5. Adjusted accounts to recognize uncollectible accounts expense. Jova uses the allowance method of accounting for uncollectible accounts and estimates that uncollectible accounts expense will be 2 percent of sales on account

The following transactions apply to Jova for Year 2

1. Recognized $70,000 of service revenue on account.

2. Collected $64,000 from accounts receivable.

3. Determined that $850 of the accounts receivable were uncollectible and wrote them off.

4. Collected $100 of an account that had previously been written off.

5. Paid $48,000 cash for operating expenses.

6. Adjusted the accounts to recognize uncollectible accounts expense for Year 2. Jova estimates uncollectible accounts expense will be 1.0 percent of sales on account

Required

Complete the following requirements for Year 1 and Year 2. Complete all requirements for Year 1 prior to beginning the requirements for Year 2.

1. Identify the type of each transaction (asset source, asset use, asset exchange, or claims exchange).

2. Show the effect of each transaction on the elements of the financial statements, using a horizontal statements model like the one shown here. Use + for increase, − for decrease, and leave the cell blank if there is no effect. Also, in the Cash Flow column, indicate whether the item is an operating activity (OA), investing activity (IA), or financing activity (FA). The first transaction is entered as an example. (Hint: Closing entries do not affect the statements model.) (If there is no effect on the Statement of Cash Flow, leave the cell blank. Not all cells will require entry.)

3. Organize the transaction data in accounts under an accounting equation.

4. Prepare the income statement, statement of changes in stockholders’ equity, balance sheet, and statement of cash flows for Year 1.

5. Prepare the income statement, statement of changes in stockholders’ equity, balance sheet, and statement of cash flows for Year 2.

4. a. Calculate nominal GDP for 2014 and 2015.

b. Calculate the percentage change in GDP from 2014 to 2015, first using 2014 prices and then using 2015 prices.

c. Calculate the percentage change in real GDP from 2014 to 2015, using your answers from part (b).

d. What is the GDP deflator for 2015 if it equals 1.0 in 2014?

5 Given the information in the following table for three consecutive years in the U.S. economy, calculate the missing data.

6. Look at two scenarios, details of which are provided below, for monthly inventories and sales for a company producing cereal. In both scenarios, the company’s sales are the same.

a.Calculate the inventory investment during each month and the resulting stock of inventory at the beginning of the following month for both scenarios.

b.Does maintaining constant production lead to greater or lesser fluctuations in the stock of inventory? Explain.

Mike L., a 47-year-old man, went to his physician for an annual physical that had been postponed for over 3 years. He had started his own business 4 years ago and had been extremely busy getting it established. Mike’s medical history indicated he was a nonsmoker, and his father and grandfather had histories of myocardial infarctions before age 55. Since she had not seen this patient in a number of years, the physician decided to order routine screening tests.

CHEMISTRY RESULTS:

URINALYSIS:

1. Indicate the abnormal results

2. Which conditions listed for question 2 can the physician rule out with Mike’s medical history, physical examination, and current laboratory results?

3. What is the most probable cause of the abnormal result in this patient.

A 78-year-old man was admitted with pneumonia hyponatremia. Plasma Na concentration was initially 129 meq/L, decreasing within 3 days to 118-120 meq/L despite fluid restriction to 1 liter/day. A chest CT scan revealed a right 2.8 x 1.6 cm infrahilar mass and post obstructive pneumonia. The patient was active smoker. Past medical history was notable for laryngeal carcinoma treated 15-yearsprior with radiation therapy, renal carcinoma, peripheral vascular disease, and hypothyroidism. On review of system, he denied headache, nausea and vomiting. He had chronic hip pain, managed with acetaminophen. Other medications include cilostasol, amoxicillin, digoxin, diltiazem, and thyroxine. He was euvolemic on examination, with no lymphadenopathy and a normal chest examination.

Laboratory Results:

Na-120

TSH-2.6

K-4.3

Uric acid-2.7 mg/dl

cl-89

Bun-8

Crea-1.0

Glucose-93

Mg-2.0

Phos-2.8

Ca-8.9

Alb-31

The patient was treated with furosemide 20 mg PO BID and salt tablets. The plasma Na concentration increased to Na meq/L with this therapy: How ever the patient developed orthostatic hypotension and dizziness. He was stated on demeclocycline, 600 mg PO in the morning and 300 mg in the evening, just before discharge from hospital. Plasma concentration increase to140 meq/L with Bun of 23 and crea of 1.4 at which point demeclocycline was reduced to300 mg POBID. Bronchoscopic biopsy eventually showed small lung cancer. The patient declined chemotherapy and was discharged.

Create a conceptual map using the case scenarios as guide. Conceptual map should include pathophysiology, medical diagnosis, signs and symptoms, and risk factors, if any. Nursing diagnosis, nursing interventions, medical management (medication and procedures), expected outcomes.

Which of the following are ways that a firm can reduce cash flows in order to prevent managers from wastefully spending excess cash flows? Check all that apply.

Minimizing the amount of debt in the firm’s capital structure so that the firm can borrow money at a reasonable rate when good investment opportunities arise

Increasing the amount of debt in the firm’s target capital structure in the hope that higher debt-service requirements will force managers to be more disciplined

Funneling excess cash flows back to shareholders through higher dividends

Funneling excess cash flows back to shareholders through stock repurchases

Blue Ram Brewing Company currently has no debt in its capital structure, but it is considering using some debt and reducing its outstanding equity. The firm’s unlevered beta is 1.1, and its cost of equity is 11.80%. Because the firm has no debt in its capital structure, its weighted average cost of capital (WACC) also equals 11.80%. The risk-free rate of interest (rRFrRF) is 3%, and the market risk premium (RP) is 8%. Blue Ram’s marginal tax rate is 35%.

Blue Ram is examining how different levels of debt will affect its costs of debt and equity, as well as its WACC. The firm has collected the financial information that follows to analyze its weighted average cost of capital (WACC). Complete the following table.

Unsure how to set this up properly in excel?

Assignment #6

The Nimble Digits Division of Block C Enterprises manufactures computer furniture and accessories.At the present time 15 different components are being produced.Each product is some combination of steel, plastic, wood, aluminum and formica.The availability of these component materials is 980 pounds of steel alloy, 400 sq ft of plastic, 600 bd ft of wood, 2500 pounds of aluminum, 1800 bd ft of Formica and labor is limited to 1000 hours.Given the data below, determine how many of each item should be produced to maximize the profit.Also determine how the profit would change if the monthly demand for all items with an a through e prefix is eliminated.

Item a158 requires 0.4 sq ft of plastic, 0.7 bd ft of wood, 5.8 pounds of aluminum, 10.9 bd ft of Formica and 3.1 hours of labor.There is no minimum monthly demand and this item's contribution to the profit is $18.79.

Item b179 requires 4 pounds of steel, 0.5 sq ft of plastic, 1.8 bd ft of wood, 10.3 pounds of aluminum, 2.0 bd ft of Formica and 1.0 hours of labor.The minimum monthly demand is 20 and this item's contribution to the profit is $6.31.

Item c023 requires 6 pounds of steel, 1.5 bd ft of wood, 1.1 pounds of aluminum, 2.3 bd ft of Formica and 1.2 hours of labor.The minimum monthly demand is 10 and this item's contribution to the profit is $8.19.

Item d045 requires 10 pounds of steel, 0.4 sq ft of plastic, 2.0 bd ft of wood, and 4.8 hours of labor.The minimum monthly demand is 10 and this item's contribution to the profit is $45.88.

Item e388 requires 12 pounds of steel, 1.2 sq ft of plastic, 1.2 bd ft of wood, 8.1 pounds of aluminum, 4.9 bd ft of Formica and 5.5 hours of labor.There is no minimum monthly demand and this item's contribution to the profit is $63.00.

A cell phone manufacturer claims that the population mean battery life of its flagship smartphone model, the Black Bear, is greater than the population mean battery life of the largest competitor, the Grizzly. A consumer advocacy publication tests this claim by purchasing a random sample of Black Bear smartphones and a random sample of Grizzly smartphones. Members of the publication charged each smartphone to full capacity and then had the smartphones play back the same videos until the batteries were completely depleted. The publication researched the population standard deviation of the battery life from the manufacturers. The population standard deviation for the Black Bear is assumed to be 0.71 hour, and the population standard deviation for the Grizzly is assumed to be 0.63 hour. The results of the battery life test are shown below. Let μ1 be the population mean battery life for the Black Bear and μ2 be the population mean battery life for the Grizzly. If the test statistic is z=1.38, what is the p-value for this hypothesis test?

Do not round your answer; compute your answer using a value from the table below.