In: Accounting
A company paid dividends of $3.20 per share in 2009, and just announced that it will pay $9.49 in 2016. Estimate the compound annual growth rate of the dividends. The compound annual growth rate of the dividends is ___%.
In: Finance
Select 3-5 financial markets or economic metrics. Compare and contrast financial markets metrics of 2008, 2012, and 2016 - has the US economy sufficiently recovered from the financial crisis?
In: Finance
Which is better, lowering or raising taxes? Explain and use example on how your choice is accurate.
http://money.cnn.com/2016/10/17/pf/taxes/trump-tax-plan/index.html
In: Economics
Select TWO companies listed in the construction sector of the Main Market of Bursa Malaysia
Compute the relevant ratios for the analysis of the companies’ capital structure for the years 2015, 2016, 2017, 2018 and 2019
In: Finance
So, I have 2 Window Server 2016 Virtual Machines and I am not sure how to create 2 NICs for each server. Can someone explain how to create it?
In: Computer Science
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The Town of Bedford Falls approved a General Fund operating budget for the fiscal year ending June 30, 2017. The budget provides for estimated revenues of $2,700,000 as follows: property taxes, $1,900,000; licenses and permits, $350,000; fines and forfeits, $250,000; and intergovernmental (state grants), $200,000. The budget approved appropriations of $2,650,000 as follows: General Government, $500,000; Public Safety, $1,600,000; Public Works, $350,000; Culture and Recreation, $150,000; and Miscellaneous, $50,000. |
| Required |
| a&b. |
Prepare the journal entry (or entries), to record the Town of Bedford Falls’s General Fund operating budget on July 1, 2016, the beginning of the Town’s 2017 fiscal year and also record the following transactions that occurred during the month of July 2016. Also show entries in the subsidiary ledger accounts, to record the Town of Bedford Falls’s General Fund operating budget on July 1, 2016, the beginning of the Town’s 2017 fiscal year. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) |
| 1. |
Revenues were collected in cash amounting to $31,000 for licenses and permits and $12,000 for fines and forfeits. |
| 2. |
Supplies were ordered by the following functions in early July 2016 at the estimated costs shown: |
| General Government | $ | 7,400 |
| Public Safety | 11,300 | |
| Public Works | 6,100 | |
| Culture and Recreation | 4,200 | |
| Miscellaneous | 900 | |
| Total | $ | 29,900 |
| 3. |
During July 2016, supplies were received at the actual costs shown below and were paid in cash. General Government, Culture and Recreation, and Miscellaneous received all supplies ordered. Public Safety and Public Works received part of the supplies ordered earlier in the month at estimated costs of $10,700 and $5,900, respectively. |
| Actual Cost | Estimated Cost | |||||
| General Government | $ | 7,300 | $ | 7,400 | ||
| Public Safety | 10,800 | 10,700 | ||||
| Public Works | 6,100 | 5,900 | ||||
| Culture and Recreation | 4,100 | 4,200 | ||||
| Miscellaneous | 900 | 900 | ||||
| Total | $ | 29,200 | $ | 29,100 | ||
Record the Town of Bedford Falls’s General Fund operating budget on July 1, 2016, the beginning of the town’s 2017 fiscal year.
Revenues were collected in cash amounting to $31,000 for licenses and permits and $12,000 for fines and forfeits.
Record the issuance of the purchase orders and contracts.
Record the issuance of the purchase orders and contracts.
Record the cash paid for expenses.
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TOWN OF BEDFORD FALLS
| Revenues Ledger | |||
| Account Description | Est Revenues Dr (Cr) | Revenues Cr (Dr) | Balance Dr (Cr) |
| Taxes | |||
| Budget | 0 | ||
| 0 | |||
| Licenses and Permits | |||
| Budget | 0 | ||
| Cash collected | 0 | ||
| Fines and Forfeits | |||
| Budget | 0 | ||
| Cash collected | 0 | ||
| Intergovernmental Revenues | |||
| Budget | 0 | ||
| 0 | |||
TOWN OF BEDFORD FALLS
| Appropriations, Expenditures, and Encumbrances Ledger | |||||||
| Encumbrances | Expenditures | ||||||
| Account/Description | Increase Dr | Decrease (Cr) | Balance Dr (Cr) | Increase Dr (Cr) | Balance Dr (Cr) | Appropriations Cr (Dr) | Balance Cr (Dr) |
| General Government | |||||||
| Appropriations | |||||||
| Order of Supplies | 0 | ||||||
| Supplies received | |||||||
| Public Safety | |||||||
| Appropriations | |||||||
| Order of Supplies | 0 | ||||||
| Supplies received | |||||||
| Public Works | |||||||
| Appropriations | |||||||
| Order of Supplies | 0 | ||||||
| Supplies received | |||||||
| Culture and Recreation | |||||||
| Appropriations | |||||||
| Order of Supplies | 0 | ||||||
| Supplies received | |||||||
| Miscellaneous | |||||||
| Appropriations | |||||||
| Order of Supplies | 0 | ||||||
| Supplies received | |||||||
| c. |
Calculate the amount of budgeted but unrealized revenues in total and from each source as of July 31, 2016. |
Source
| Budgeted | Actual | Unrealized Revenue | |
| Property Taxes | $0 | ||
| Licenses and Permits | 0 | ||
| Fines and Forfeits | 0 | ||
| Intergovernmental | 0 | ||
| Total | $0 | $0 | $0 |
| d. |
Calculate the amount of available appropriation in total and for each function as of July 31, 2016. |
|
In: Accounting
Roberta Santos, age 41, is single and lives at 120 Sanborne Avenue, Springfield, IL 60781. Her Social Security number is 123-45-6789. Roberta has been divorced from her former husband, Wayne, for three years. She has a son, Jason, who is 17, and a daughter, June, who is 18. Jason's Social Security number is 111-11-1112, and June's is 123-45-6788. Roberta does not want to contribute $3 to the Presidential Election Campaign Fund. Roberta, an advertising executive, earned a salary from ABC Advertising of $80,000 in 2016. Her employer withheld $9,000 in Federal income tax and $3,100 in state income tax. Roberta has legal custody of Jason and June. The divorce decree provides that Roberta is to receive the dependency deductions for the children. Jason lives with his father during summer vacation. Wayne indicates that his expenses for Jason are $10,500. Roberta can document that she spent $6,500 for Jason's support during 2016. In prior years, Roberta gave a signed Form 8332 to Wayne regarding Jason. For 2016, she has decided not to do so. Roberta provides all of June's support. Roberta's mother died on January 7, 2016. Roberta inherited assets worth $625,000 from her mother. As the sole beneficiary of her mother's life insurance policy, Roberta received insurance proceeds of $300,000. Her mother's cost basis for the life insurance policy was $120,000. Roberta's favorite aunt gave her $13,000 for her birthday in October. On November 8, 2016, Roberta sells for $22,000 Amber stock that she had purchased for $24,000 from her first cousin, Walt, on December 5, 2011. Walt's cost basis for the stock was $26,000, and the stock was worth $23,000 on December 5, 2011. On December 1, 2016, Roberta sold Falcon stock for $13,500. She had acquired the stock on July 2, 2013, for $8,000. An examination of Roberta's records reveals that she received the following: Interest income of $2,500 from First Savings Bank. Groceries valued at $750 from Kroger Groceries for being the 100,000th customer. Qualified dividend income of $1,800 from Amber. Interest income of $3,750 on City of Springfield school bonds. Alimony of $16,000 from Wayne. Distribution of $4,800 from ST Partnership. Her distributive share of the partnership passive taxable income was $5,300. She had no prior passive activity losses. From her checkbook records, she determines that she made the following payments during 2016: Charitable contributions of $4,500 to First Presbyterian Church and $1,500 to the American Red Cross (proper receipts obtained). Paid $5,000 to ECM Hospital for the medical expenses of a friend from work. Mortgage interest on her residence of $7,800 to Peoples Bank. Property taxes of $3,200 on her residence and $1,100 (ad valorem) on her car. $800 for landscaping expenses for residence. Estimated Federal income taxes of $3,800 and estimated state income taxes of $1,000. Medical expenses of $5,000 for her and $800 for Jason. In December, her medical insurance policy reimbursed $1,500 of her medical expenses. A $1,000 ticket for parking in a handicapped space. Attorney's fees of $500 associated with unsuccessfully contesting the parking ticket. Contribution of $250 to the campaign of a candidate for governor. Because she did not maintain records of the sales tax she paid, she calculates the amount from the sales tax table to be $994. Calculate Roberta's net tax payable or refund due for 2016. Use the appropriate forms and schedules.
Please dont include personal exemptions or alamony in the calculations. I need the completed 1040 and any required schedules to complete this project. Please help.
In: Accounting
I JUST NEED THE NAMES OF THE ADJUSTING ENTRY ACCOUNTS FOR A) THROUGH I). I don't need the number entries. I attached the balance sheet in case you need it for reference
Problem -
Your required tasks are as follows: On the designated worksheet, prepare in journal entry form the adjusting journal entries for the following items. Letter entries to correspond to the below information and present them in alphabetical order. (Round all numbers to the nearest dollar)
On June 1, 2016 B&B paid Lorre Advertising $48,000 for two years of advertising services. Equal services are provided in year 1 and year 2 of the contract.
B&B needed some additional storage space so on September 1, 2016 they rented a unit for an annual rate of $10,200. The entire amount was expensed when paid.
$4,250 of store supplies were purchased during the year and the asset Store Supplies was increased. $2,150 of these supplies were used during the year.
$6,500 of office supplies were purchased during the year and were immediately expensed. A count of the office supplies on hand December 31, 2016, indicates a balance of $1,500.
On October 1, 2016, B&B issued a 9-month note receivable to Greenstreet & Co. at an annual interest rate of 4%. Principal and interest will be paid at the end of the 9-months. The note was recorded in Notes Receivable and is the only note outstanding.
Sales salaries of $6,200 and office salaries of $4,800 were earned and remained unpaid at 12/31/16.
On May 1, 2016, B&B rented a portion of one store to Paul Henreid Co. The contract was for 10 months and B&B required the 10 months of cash upfront on May 1. The rent is being earned equally over the next 10 months. When cash was received, unearned rent was appropriately recorded.
On November 1, 2016, B&B collected $18,000 for consulting services to be performed from November 1, 2016 to February 28, 2017. The company credited the revenue account when the cash was received.
Based on past experience, B&B calculates bad debt expense at 1.5% of net sales for the year.
Refer to balance sheet:
| Bogie and Bacall Company | ||||||
| End of Period Worksheet | ||||||
| For the Year Ended December 31, 2016 | ||||||
| Unadjusted | Adjusted | |||||
| Account Title | Trial Balance | Adjustments | Trial Balance | |||
| DR | CR | DR | CR | DR | CR | |
| Cash | 49,800 | - | ||||
| Accounts Receivable | 77,450 | - | ||||
| Allowance for Doubtful Accounts | 2,000 | |||||
| Interest Receivable | - | |||||
| Merchandise Inventory | 160,500 | - | ||||
| Prepaid Insurance | 18,000 | - | ||||
| Prepaid Advertising | 48,000 | |||||
| Prepaid Rent | - | |||||
| Store Supplies | 4,250 | - | ||||
| Office Supplies | - | - | ||||
| Note Receivable | 24,000 | |||||
| Store Equipment | 175,000 | - | ||||
| Accumulated Depreciation - Store Equipment | - | 40,050 | ||||
| Office Equipment | 80,000 | - | ||||
| Accumulated Depreciation - Office Equipment | - | - | ||||
| Accounts Payable | - | 85,200 | ||||
| Salaries Payable | - | - | ||||
| Interest Payable | - | - | ||||
| Unearned Rent | - | 20,000 | ||||
| Unearned Consulting Revenue | ||||||
| Note Payable (payment due 2020) | - | 146,000 | ||||
| Common Stock | - | 60,000 | ||||
| Retained Earnings | - | 111,500 | ||||
| Dividends | 35,000 | - | ||||
| Sales Revenues | - | 808,950 | ||||
| Consulting Revenue | 24,000 | |||||
| Sales Returns and Allowances | 11,700 | - | ||||
| Sales Discounts | 7,200 | - | ||||
| Cost of Goods Sold | 457,200 | - | ||||
| Sales Salaries Expense | 94,650 | - | ||||
| Advertising Expense | - | |||||
| Depreciation Expense - Store Equipment | - | - | ||||
| Store Supplies Expense | - | - | ||||
| Miscellaneous Selling Expense | 2,600 | - | ||||
| Office Salaries Expense | 34,000 | - | ||||
| Rent Expense | 10,200 | - | ||||
| Insurance Expense | - | - | ||||
| Depreciation Expense - Office Equipment | - | - | ||||
| Office Supplies Expense | 6,500 | - | ||||
| Miscellaneous Administrative Expense | 1,650 | - | ||||
| Rent Revenue | - | - | ||||
| Interest Revenue | ||||||
| Interest Expense | - | - | ||||
| Bad Debt Expense | - | - | ||||
| 1,297,700 | 1,297,700 | |||||
In: Accounting
I JUST NEED THE NAMES OF THE ADJUSTING ENTRY ACCOUNTS FOR A) THROUGH I). I don't need the numbers. I attached the balance sheet in case you need it for reference
Problem -
Your required tasks are as follows: On the designated worksheet, prepare in journal entry form the adjusting journal entries for the following items. Letter entries to correspond to the below information and present them in alphabetical order. (Round all numbers to the nearest dollar)
a) On June 1, 2016 B&B paid Lorre Advertising $48,000 for two years of advertising services. Equal services are provided in year 1 and year 2 of the contract.
b) B&B needed some additional storage space so on September 1, 2016 they rented a unit for an annual rate of $10,200. The entire amount was expensed when paid.
c) $4,250 of store supplies were purchased during the year and the asset Store Supplies was increased. $2,150 of these supplies were used during the year.
d) $6,500 of office supplies were purchased during the year and were immediately expensed. A count of the office supplies on hand December 31, 2016, indicates a balance of $1,500.
e) On October 1, 2016, B&B issued a 9-month note receivable to Greenstreet & Co. at an annual interest rate of 4%. Principal and interest will be paid at the end of the 9-months. The note was recorded in Notes Receivable and is the only note outstanding.
f) Sales salaries of $6,200 and office salaries of $4,800 were earned and remained unpaid at 12/31/16.
g) On May 1, 2016, B&B rented a portion of one store to Paul Henreid Co. The contract was for 10 months and B&B required the 10 months of cash upfront on May 1. The rent is being earned equally over the next 10 months. When cash was received, unearned rent was appropriately recorded.
h) On November 1, 2016, B&B collected $18,000 for consulting services to be performed from November 1, 2016 to February 28, 2017. The company credited the revenue account when the cash was received.
i) Based on past experience, B&B calculates bad debt expense at 1.5% of net sales for the year.
Refer to balance sheet:
| Bogie and Bacall Company | ||||||
| End of Period Worksheet | ||||||
| For the Year Ended December 31, 2016 | ||||||
| Unadjusted | Adjusted | |||||
| Account Title | Trial Balance | Adjustments | Trial Balance | |||
| DR | CR | DR | CR | DR | CR | |
| Cash | 49,800 | - | ||||
| Accounts Receivable | 77,450 | - | ||||
| Allowance for Doubtful Accounts | 2,000 | |||||
| Interest Receivable | - | |||||
| Merchandise Inventory | 160,500 | - | ||||
| Prepaid Insurance | 18,000 | - | ||||
| Prepaid Advertising | 48,000 | |||||
| Prepaid Rent | - | |||||
| Store Supplies | 4,250 | - | ||||
| Office Supplies | - | - | ||||
| Note Receivable | 24,000 | |||||
| Store Equipment | 175,000 | - | ||||
| Accumulated Depreciation - Store Equipment | - | 40,050 | ||||
| Office Equipment | 80,000 | - | ||||
| Accumulated Depreciation - Office Equipment | - | - | ||||
| Accounts Payable | - | 85,200 | ||||
| Salaries Payable | - | - | ||||
| Interest Payable | - | - | ||||
| Unearned Rent | - | 20,000 | ||||
| Unearned Consulting Revenue | ||||||
| Note Payable (payment due 2020) | - | 146,000 | ||||
| Common Stock | - | 60,000 | ||||
| Retained Earnings | - | 111,500 | ||||
| Dividends | 35,000 | - | ||||
| Sales Revenues | - | 808,950 | ||||
| Consulting Revenue | 24,000 | |||||
| Sales Returns and Allowances | 11,700 | - | ||||
| Sales Discounts | 7,200 | - | ||||
| Cost of Goods Sold | 457,200 | - | ||||
| Sales Salaries Expense | 94,650 | - | ||||
| Advertising Expense | - | |||||
| Depreciation Expense - Store Equipment | - | - | ||||
| Store Supplies Expense | - | - | ||||
| Miscellaneous Selling Expense | 2,600 | - | ||||
| Office Salaries Expense | 34,000 | - | ||||
| Rent Expense | 10,200 | - | ||||
| Insurance Expense | - | - | ||||
| Depreciation Expense - Office Equipment | - | - | ||||
| Office Supplies Expense | 6,500 | - | ||||
| Miscellaneous Administrative Expense | 1,650 | - | ||||
| Rent Revenue | - | - | ||||
| Interest Revenue | ||||||
| Interest Expense | - | - | ||||
| Bad Debt Expense | - | - | ||||
| 1,297,700 | 1,297,700 | |||||
In: Accounting