Just Dew It Corporation reports the following balance sheet information for 2017 and 2018. JUST DEW IT CORPORATION 2017 and 2018 Balance Sheets Assets Liabilities and Owners' Equity 2017 2018 2017 2018 Current assets Current liabilities Cash $ 10,650 $ 10,700 Accounts payable $ 72,000 $ 64,250 Accounts receivable 27,600 27,950 Notes payable 47,500 46,750 Inventory 63,400 64,300 Total $ 119,500 $ 111,000 Total $ 101,650 $ 102,950 Long-term debt $ 56,100 $ 62,500 Owners' equity Common stock and paid-in surplus $ 82,000 $ 82,000 Fixed assets Retained earnings 183,050 194,450 Net plant and equipment $ 339,000 $ 347,000 Total $ 265,050 $ 276,450 Total assets $ 440,650 $ 449,950 Total liabilities and owners' equity $ 440,650 $ 449,950 Based on the balance sheets given for Just Dew It, calculate the following financial ratios for the year 2017. a. Current ratio b. Quick ratio c. Cash ratio d. NWC to total assets ratio e. Debt-equity ratio and equity multiplier f. Total debt ratio and long-term debt ratio Based on the balance sheets given for Just Dew It, calculate the following financial ratios for the year 2018. a. Current ratio b. Quick ratio c. Cash ratio d. NWC to total assets ratio e. Debt-equity ratio and equity multiplier f. Total debt ratio and long-term debt ratio

Holmes Company reported the following balance sheets at December 31, 2017 and 2018:

Its income statement for 2018 was as follows:

Additional information:

During 2018, Holmes had the following transactions:

Declared and paid a common dividend of $50 million.

Purchased additional fixed assets, but did not sell any.

Issued $30 million of new debt.

Paid interest on all its debt, and included the interest in Other operating expenses.

Repurchased common shares, but did not issue any.

Required:

Prepare a cash flow statement for Holmes for 2018, using the indirect method to present the operating section. For your calculations, it may be helpful to use the worksheet approach described in the chapter appendix to construct the cash flow statement. (Net cash outflows and amounts to be deducted should be indicated by a minus sign.)

Just Dew It Corporation reports the following balance sheet information for 2017 and 2018. JUST DEW IT CORPORATION 2017 and 2018 Balance Sheets Assets Liabilities and Owners' Equity 2017 2018 2017 2018 Current assets Current liabilities Cash $ 10,050 $ 10,300 Accounts payable $ 74,750 $ 58,500 Accounts receivable 27,300 28,950 Notes payable 49,000 50,000 Inventory 64,900 64,000 Total $ 123,750 $ 108,500 Total $ 102,250 $ 103,250 Long-term debt $ 64,400 $ 63,200 Owners' equity Common stock and paid-in surplus $ 84,000 $ 84,000 Fixed assets Retained earnings 166,100 190,550 Net plant and equipment $ 336,000 $ 343,000 Total $ 250,100 $ 274,550 Total assets $ 438,250 $ 446,250 Total liabilities and owners' equity $ 438,250 $ 446,250 Based on the balance sheets given for Just Dew It, calculate the following financial ratios for the year 2017. a. Current ratio b. Quick ratio c. Cash ratio d. NWC to total assets ratio e. Debt-equity ratio and equity multiplier f. Total debt ratio and long-term debt ratio Based on the balance sheets given for Just Dew It, calculate the following financial ratios for the year 2018. a. Current ratio b. Quick ratio c. Cash ratio d. NWC to total assets ratio e. Debt-equity ratio and equity multiplier f. Total debt ratio and long-term debt ratio

Problem 12-5 Various transactions related to trading securities [LO12-1, 12-3]

The following selected transactions relate to investment activities of Ornamental Insulation Corporation during 2018. The company buys debt securities, intending to profit from short-term differences in price and maintaining them in an active trading portfolio. Ornamental’s fiscal year ends on December 31. No investments were held by Ornamental on December 31, 2017.

(Hint: Interest must be accrued.)

Required:
1. Prepare the appropriate journal entry for each transaction or event during 2018, as well as any adjusting entries necessary at year end.
2. Indicate any amounts that Ornamental Insulation would report in its 2018 income statement, 2018 statement of comprehensive income, and 12/31/2018 balance sheet as a result of these investments.

Hope Company’s total assets were $5,380. Hope collected on $957 of account receivable that had previously been written off.  After the collection, Hope’s total assets will be $______

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Hope Company’s total assets were $19,502. Hope determined that an $1,066 account receivable was uncollectible and wrote off the receivable. After the write off, Hope’s total assets will be $______

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At the beginning of 2018 Evan Company had a $1,795 balance in its accounts receivable account and a $462 balance in allowance for doubtful accounts. During 2018, Evan experienced the following events.

(1) Earned $2,697 of revenue on account.

(2) Collected $1,639 cash from accounts receivable.

(3) Wrote-off $612 of accounts receivable as uncollectible.

Evan estimates uncollectible accounts to be 3% of sales. Based on this information, the December 31, 2018 balance in the accounts receivable account is

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Ava Company sets bad debt expense at 2 percent of its sales. Ava reported total sales of $ 65,249. Before the adjustment, Ava had $509 credit balance in its allowance for doubtful accounts.

What is the ending balance in the Allowance for Doubtful Accounts that Ava report on its Balance Sheet?

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On December 31, 2018, Ava Company had an ending balance of $9,213 in its accounts receivable account and an unadjusted (current) balance in its allowance for doubtful accounts account of $119.Ava estimates uncollectible accounts expense to be 9% of receivables. .Based on this information, the amount of uncollectible accounts expense shown on the 2018 income statement is $___________

Hello,

can you assist with the below and show all work?

Target costs:
Medical Instruments uses a manufacturing costing system with one direct cost category (direct materials) and three indirect cost categories:
a. Setup, production order, and materials-handling costs that vary with the number of batches.
b. Manufacturing operations costs that vary with machine-hours.
c. Costs of engineering changes that vary with the number of engineering changes made

A) calculate the manufacturing cost per unit of HJ6 in 2017

B) calculate the manufacturing cost per unit of HJ6 in 2018

C) Did medical instruments achieve the target manufacturing cost per unit in HJ6 in 2018

Based on the financial statements provided, prepare a statement of cash flows for the year ended February 28, 2018.

Now that she is selling mixers and her customers can use credit cards to pay for them, Natalie is thinking of upgrading her website to include the online sale of mixers and payment by credit card. This would enable her to sell these mixers to a wider range of customers using the Internet. Natalie contacts her brother who originally prepared the website for her. He agrees to upgrade the site so it can handle credit card security issues as well as direct order entry. The cost of the upgrade is $1,800. This cost would be incurred and paid for during the month of August 2018, and the upgrade would be operational September 1, 2018. Recall that Natalie’s website had an original cost of $600 and is being amortized using the straight- line method over 24 months, starting December 1, 2017, with zero residual value. Additional costs for website maintenance and insurance are estimated to be $1,200 per year. If Natalie decides to upgrade the website, its useful life will not change and there will be no change in residual value. Instructions:

(a) Prepare the journal entry to record the upgrade.

(b) Calculate the monthly amortization expense before the upgrade and the accumulated amortization and book value on August 31, 2018.

(c) Calculate the revised monthly amortization expense as of September 1, 2018.

(d) Calculate the accumulated amortization and book value on December 31, 2018.

(e) Explain to Natalie the difference in accounting for the website upgrade costs and accounting for the costs incurred for website maintenance and insurance. In your explanation, comment on the generally accepted accounting principles that affect the accounting for these transactions.

In 2018, the Marion Company purchased land containing a mineral mine for $1,670,000. Additional costs of $638,000 were incurred to develop the mine. Geologists estimated that 400,000 tons of ore would be extracted. After the ore is removed, the land will have a resale value of $108,000. To aid in the extraction, Marion built various structures and small storage buildings on the site at a cost of $132,000. These structures have a useful life of 10 years. The structures cannot be moved after the ore has been removed and will be left at the site. In addition, new equipment costing $91,000 was purchased and installed at the site. Marion does not plan to move the equipment to another site, but estimates that it can be sold at auction for $3,000 after the mining project is completed. In 2018, 57,000 tons of ore were extracted and sold. In 2019, the estimate of total tons of ore in the mine was revised from 400,000 to 434,300. During 2019, 91,000 tons were extracted. Required: 1. Compute depletion and depreciation of the mine and the mining facilities and equipment for 2018 and 2019. Marion uses the units-of-production method to determine depreciation on mining facilities and equipment. 2. Compute the book value of the mineral mine, structures, and equipment as of December 31, 2019.

Compute depletion and depreciation of the mine and the mining facilities and equipment for 2018 and 2019. Marion uses the units-of-production method to determine depreciation on mining facilities and equipment. (Round the intermediate calculation to 3 decimal places.)

Q1. Which of the following is directly included in the U.S. GDP for 2020?

i. 2020 Cadillac Escalade produced and sold as a new car in the United States in 2020

ii. tires produced in the United States, purchased by General Motors, and installed on a new Cadillac Escalade sold in 2020

iii. General Motors cars produced in Canada because General Motors is an American corporation.

Q2. As more women decide to work outside the home and therefore hire others to work around their home, GDP will increase by

a. only the value of the output produced by the newly working women.

b. only the value of the household work they are now hiring someone to perform.

c. the value of the output produced by the newly working women plus the value of any household work they are now hiring someone to perform.

d. the value of the output produced by the newly working women minus the value of the household work they were previously performing.

Q3. The base year is 2018. A country only produces Blu-ray players. The price of a Blu-ray player in 2018 was $100. The price of a Blu-ray player was $90 in 2019. The quantity of Blu-ray players produced in 2018 was 10,000 units and in 2019 was 10,500 units. Nominal GDP in 2018 was____, real GDP in 2018 was, nominal GDP in 2019 was _____and real GDP in 2019 equals_____.

Group of answer choices

a. $1,000,000; $1,000,000; $945,000; $1,050,000

b. $1,050,000; $1,000,000; $900,000; $945,000

c. $945,000; $900,000; $1,000,000; $1,050,000

d. $900,000; $945,000; $1,050,000; $1,000,000