Central Laundry and Cleaners is considering replacing an existing piece of machinery with a more sophisticated machine. The old machine was purchased 3 years ago at a cost of $ 50, 300 and this amount was being depreciated under MACRS using a​ 5-year recovery period. The machine has 5 years of usable life remaining. The new machine that is being considered costs $ 76,300 and requires $ 3,600 in installation costs. The new machine would be depreciated under MACRS using a​ 5-year recovery period. The firm can currently sell the old machine for $ 55,500 without incurring any removal or cleanup costs. The firm is subject to a tax rate of 40 %The revenues and expenses​ (excluding depreciation and​ interest) associated with the new and the old machines for the next 5 years are given in the table:

(Use the applicable MACRS depreciation​ percentages.)

Note: The new machine will have no terminal value at the end of 5 years.

   New machine           Old machine  
Year   Revenue   Expenses
(excluding depreciation and interest)       Revenue   Expenses
(excluding depreciation and interest)
1   $749,800    $720,300       $674,500   $660,300
2   749,800   720,300       676,500   660,300
3   749,800   720,300       680,500   660,300
4   749,800   720,300       678,500   660,300
5   749,800   720,300       674,500   660,300

a. Calculate the initial investment associated with replacement of the old machine by the new one.

b. Determine the incremental operating cash inflows associated with the proposed replacement.​ (Note: Be sure to consider the depreciation in year​ 6.)

c. Depict on a time line the relevant cash flows found in parts

​(a​) and ​(b​) associated with the proposed replacement decision.

Following a strategy of product differentiation, Arseniq Company makes a high-end Appliance, XT15. Arseniq presents the following data for the years 2016 and 2017:

                                                                                                                               2016                     2017

        Units of XT15 produced and sold 50,000                  52,500

        Selling price                                                                                                 $500                     $550

        Direct materials (square feet) 150,000                153,750

        Direct materials costs per square foot $50                       $55

        Manufacturing capacity in units of XT15 62,500                  62,500

        Total conversion costs $6,250,000           $6,875,000

        Conversion costs per unit of capacity                                                   $100                     $110

        Selling and customer-service capacity (customers)                             150                       150

        Total selling and customer-service costs $2,250,000           $2,343,750

        Selling and customer-service capacity cost per customer $15,000                $15,625

Arseniq produces no defective units but it wants to reduce direct materials usage per unit of XT15. Manufacturing conversion costs in each year depend on production capacity defined in terms of XT15 units that can be produced. Selling and customer-service costs depend on the number of customers that the customer and service functions are designed to support. Arseniq had 140 customers in 2016 and 145 customers in 2017.

Please post the answer in table form exactly like i posted please.

Gulf Delivery Service, Inc. completed the following transactions during January, 2018:

1Shareholders invested in the business $25,000 cash and a delivery truck valued at $35,000 in exchange for common stock.

2.Purchased supplies for $1,000 cash.

3.Paid $2,400 for a one-year insurance policy, effective January1.

3.Performed delivery services for a customer and received $2,500 cash.

4.Completed a large delivery job for a customer on account for $8,000.

5.Paid $6,000 for employee salaries.

6.Performed delivery services for customers and received $55,000 cash.

7.Collected $4,000 in advance for delivery service to be performed later.

8.Collected $3,000 cash from a customer on account.

9.Purchased fuel for the truck , paying $1,500 with a company credit card (Credit accounts payable).

10.Performed delivery services on account, $4,500.

11.Paid office rent $2,500.

12.Paid $500 for accounts payable.

13.Paid cash dividends of $10,000.

a.

Record each transaction in the journal. Key each transaction by its letter (Explanations are not required).

b.Post the transactions that you recorded in requirement 1 to the ledger accounts using T-accounts. The ledger for Gulf Delivery Service contains the following accounts:

Cash                                                    Service revenue

Accounts receivable                            Salaries expense

Supplies                                               Depreciation expense

Prepaid insurance                                Insurance expense

Delivery truck                                     Fuel expense

Accumulated depreciation                  rent expense

Accounts payable                                supplies expense

Salaries payable                                              

Unearned service revenue

Common stock

Retained earnings

Dividends

Income summary

The following is the ending balances of accounts at December 31, 2018 for the Weismuller Publishing Company.

Additional information:

Prepaid expenses include $156,000 paid on December 31, 2018, for a two-year lease on the building that houses both the administrative offices and the manufacturing facility.

Investments include $48,000 in Treasury bills purchased on November 30, 2018. The bills mature on January 30, 2019. The remaining $128,000 includes investments in marketable equity securities that the company intends to sell in the next year.

Deferred revenue represents customer prepayments for magazine subscriptions. Subscriptions are for periods of one year or less.

The notes payable account consists of the following:

a $58,000 note due in six months.

a $139,000 note due in six years.

a $93,000 note due in three annual installments of $31,000 each, with the next installment due August 31, 2019.

The common stock account represents 418,000 shares of no par value common stock issued and outstanding. The corporation has 800,000 shares authorized.

Required:
Prepare a classified balanced sheet for the Weismuller Publishing Company at December 31, 2018.

Fellowes and Associates Chartered Professional Accountants is a successful mid-tier accounting firm with a large range of clients across Canada. During 2020, Fellowes and Associates gained a new client, Health Care Holdings Group (HCHG), which owns 100 percent of the following entities:
• Shady Oaks Centre, a private treatment centre
• Gardens Nursing Home Ltd., a private nursing home
• Total Laser Care Limited, a private clinic that specializes in laser treatment of skin defects.

Year end for all HCHG entities is June 30.

The audit partner for the audit of HCHG, Tania Fellowes, has discovered that two months before the end of the financial year, one of the senior nursing officers at Gardens Nursing Home was dismissed. Her employment was terminated after it was discovered that she had worked in collusion with a number of patients to reduce their fees. The nurse would then take secret payments from the patients.

The nursing officer had access to the patient database. While she was only supposed to update room-location changes for patients, she was able to reduce the patients’ period of stay and the value of other services provided. The fraud was detected by a fellow employee who overheard the nurse discussing the “scam” with a patient. The employee reported the matter to Gardens Nursing Home’s general manager.

A) Which accounts on the balance sheet and income statement are potentially affected by the fraud?

Revenue is overstated

Revenue is understated

Accounts receivable may be understated

Accounts receivable may be overstated

Cost of goods sold is understated

Room expenses may be understated

ElecBooks Corporation provides an online bookstore for electronic books. The following is a simplified list of accounts and amounts reported in its accounting records. The accounts have normal debit or credit balances. Amounts in the list of accounts are rounded to the nearest thousand dollars. Assume the year ended on September 30, 2017.

Required:
1-a. Prepare an adjusted trial balance at September 30, 2017. (Enter your answers in thousands.)

1-b. Is the Retained Earnings balance of $1,457 the amount that would be reported on the balance sheet as of September 30, 2017?

• Yes

• No

2. Prepare the closing entry required at September 30, 2017. (Enter your answers in thousands. If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)

3.Prepare a post-closing trial balance at September 30, 2017. (Enter your answers in thousands.)

Please answer ALL of the questions below:

1.Under perfect competition without economies of scale, producers are price- (a. makers, b. takers) and the product price is equal to (a. average cost, b. marginal cost, c. marginal revenue). With external economies of scale, producers are price- (a. makers, b. takers) and the product price is equal to (a. average cost, b. marginal cost, c. marginal revenue).

2. All Hondas sold in the US are either imported or produced in Ohio, which is a case of (a. external/ b. internal) economies of scale, while Hollywood is the capital of motion pictures in the US, which is the case of (a. external/ b. internal) economies of scale.

3. Most Scotch whiskey comes from Scotland, while half of the world’s largest aircraft are assembled in Seattle, US. (a. Economies of scale/ b. comparative advantage) is more important in the former case and (a. economies of scale/ b. comparative advantage) is more important in the latter. Hollywood’s cluster location in the US is determined by (a. factor endowments, b. historical accidents), while India’s Bollywood’s cluster location in the world is determined by (a. factor endowments, b. historical accidents).

4. Suppose China and Japan can produce thin-panel PCs and their falling average cost curves are identical. Then, if Japan starts the PC production earlier, China (a. can/ b. cannot) be an exporter of the PCs, and (a. either Japan or China/ b. only Japan/ c. only China/ d. both China and Japan) obtain(s) the benefit of international trade.

As the accountant for Wheatley International, it is your job to prepare the company’s income statement and balance sheet. Use the accounts listed below to construct the statements. Assume that the tax rate is 25%.

I recommend that you should first go through each account and determine if it is a balance sheet account (i.e., asset, liability, or owners' equity) or income statement account (i.e., revenue, costs of goods sold, expense, or net income). Hint: ending inventory goes on both the balance sheet and income statement; on the income statement, both beginning and ending inventory are used to calculate cost of goods sold.

This is a tough assignment. The important thing is to understand is if accounts are balance sheet accounts (i.e., assets, liabilities, or owners' equity) or income statement accounts (i.e., revenue, cost of goods sold, expense, or net income). Additionally, it's important to understand the fundamental accounting equation (A = L + OE).

justing entries

Instructions

Chart of Accounts

Journal

Final Question

Instructions

On March 31, the following data were accumulated to assist the accountant in preparing the adjusting entries for Potomac Realty:

Chart of Accounts