West End Hospital is pursuing a sixty-two-bed expansion and would like to determine how many beds should be allocated to cardiac surgical patients versus oncology patients to maximize revenues. The average length of stay for cardiac surgical patients is 4.7 days whereas the average length of stay for oncology patients is seven days. Assume the hospital is open 365 days a year. The average revenue generated from from an oncology patient is $9,500 and the average revenue generated from a cardiac surgical patient is $10,750. The hospital currently has four hundred beds, and its laboratories, radiology department, and operating rooms have excess capacity and would be able to handle the increased demand from the expansion with existing staff. the laboratories could process up to an additional ten thousand tests annually. the average cardiac surgical patient requires 2.5 lab tests whereas the average oncology patient requires two lab tests. the radiology department can process up to an additonal five thousand imaging requests annually. the average cardiac surgical patient requires two imaging services whereas the oncology patient requires four. Last, fifteen hundred additional surgeries could be accommodated in the hospital's existing operating rooms.

a. Formulate this as a linear programming problem.

b. Solve the problem using Excel Solver.

c. What is the optimal allocation of beds to cardiac surgical versus oncology patients?

Please show answers using Excel!

On January 1, 2018, the following information was drawn from the accounting records of Carter Company: cash of $800; land of $3,500; notes payable of $600; and common stock of $1,000.

Required

a. Determine the amount of retained earnings as of January 1, 2018.

b. After looking at the amount of retained earnings, the chief executive officer (CEO) wants to pay a $1,000 cash dividend to the stockholders. Can the company pay this dividend?

c. As of January 1, 2018, what percentage of the assets were acquired from creditors?

d. As of January 1, 2018, what percentage of the assets were acquired from investors?

e. As of January 1, 2018, what percentage of the assets were acquired from retained earnings?

f. Create an accounting equation using percentages instead of dollar amounts on the right side of the equation.

g. During 2018, Carter Company earned cash revenue of $1,800, paid cash expenses of $1,200, and paid a cash dividend of $500. (Hint: It is helpful to record these events under an accounting equation before preparing the statements.)

g-1. Prepare an income statement dated December 31, 2018.

g-2. Prepare a statement of changes in stockholders’ equity dated December 31, 2018.

g-3. Prepare a balance sheet dated December 31, 2018.

g-4. Prepare a statement of cash flows dated December 31, 2018.

j. What is the balance in the Revenue account on January 1, 2019?

On January 1, 2017, Sheridan Company purchased  9% bonds having a maturity value of $ 290,000, for $ 313,782.32. The bonds provide the bondholders with a  7% yield. They are dated January 1, 2017, and mature January 1, 2022, with interest receivable January 1 of each year. Sheridan Company uses the effective-interest method to allocate unamortized discount or premium. The bonds are classified in the held-to-maturity category.

a. Prepare the journal entry at the date of the bond purchase. (Enter answers to 2 decimal places, e.g. 2,525.25. Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.)

b. Prepare a bond amortization schedule. (Round answers to 2 decimal places, e.g. 2,525.25.)

c. Prepare the journal entry to record the interest revenue and the amortization at December 31, 2017. (Round answers to 2 decimal places, e.g. 2,525.25. Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.)

d. Prepare the journal entry to record the interest revenue and the amortization at December 31, 2018. (Round answers to 2 decimal places, e.g. 2,525.25. Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.)

On January 1, 2018, Nath-Langstrom Services, Inc., a computer software training firm, leased several computers under a two-year operating lease agreement from ComputerWorld Leasing, which routinely finances equipment for other firms at an annual interest rate of 6%. The contract calls for four rent payments of $12,000 each, payable semiannually on June 30 and December 31 each year. The computers were acquired by ComputerWorld at a cost of $94,000 and were expected to have a useful life of Five years with no residual value. Both firms record amortization and depreciation semi-annually.

Prepare the appropriate enteries for both the lessee and the lessor from the beginning of the lease through the end of 2018

1. Jan 1 2018 Record the beginning of the lease for Nath-Langstorm Services

2. June 30 2018 Record the lease payment and interest expense for Nath-Langstrom Services

3. June 30 2018 Record the amortization expense for Nath-Langstrom Services

4. December 31 2018 Record the lease payment and interest expense for Nath-Langstrom Services

5. December 31 2018 Record the amortization expense for Nath-Langstrom Services

6. June 30 2018 Record the lease revenue received by ComputerWorld Leasing

7. June 30 2018 Record the Depreciation expense for ComputerWorld Leasing

8. December 31 2018 Record the lease revenue received by ComputerWorld Leasing

9. December 31 2018 Record the Depreciatino for ComputerWorld Leasing

Revise your calculations based the new information provided below and then answer the questions that follow.

A company lends $372,000 to an owner and accepts a three year, 7% note in return. The note was issued on June 1st of the current year, and will be due on June 1st of the final year of the note.

Required:
(a) Prepare the journal entry to be made when the company makes the loan and accepts the note in return. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.)

• Record the 7% note receivable accepted for a loan amount of $372,000.

(b) Calculate the interest revenue to be recorded at the end of each year the note is outstanding.

(c) Prepare the journal entries to accrue the interest receivable for each year the note is outstanding. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.)
Dec 31

• Record the interest receivable during the period ending December 31 for year 1.
• Record the interest receivable during the period ending December 31 for Year 2.
• Record the interest receivable during the period ending December 31 for Year 3.

(d) Prepare the journal entry to record receiving the cash at the note's maturity. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.)
June 01

• Record the receipt of cash on account of 7% note receivable.

1.Owner's equity for our company is $500,000, and total liabilities are $250,000. The company paid $50,000 in dividends during the year. What do our total assets equal?

$250,000

$300,000

$700,000

$750,000

2.The net income for our company this year is $20,000. The beginning and ending retained earnings balances were $46,000 and $52,000, respectively. The company issued no common stock. Calculate the amount of dividends paid by the company this year.

$14,000

$54,000

$60,000

$106,000

3.Which of the following accounts is increased with a credit?

cash

prepaid insurance

salaries expense

unearned revenue

4.On August 21, we paid four months' rent in advance, which totaled $3,200. What account would we credit when we journalize this entry?

rent expense

cash

prepaid rent

account payable

5.On September 5, we received an $11,400 payment on account. What account would we debit when we journalize this entry?

accounts payable

cash

accounts receivable

fees earned

6.On September 11, we performed $5,750 of service and billed our customer. What account would we credit when we journalize this entry?

service revenue

cash

accounts receivable

retained earnings

7.On September 22, we purchased supplies on account for $1,150. What account would we debit when we journalize this entry?

supplies

cash

accounts payable

supplies expense

Required information

[The following information applies to the questions displayed below.]

Which of the following is a true statement? (Note: A statement may be true even if it does not identify all accounts that appear on that particular financial statement.)

Multiple Choice

• Account numbers 2, 4, and 5 will appear on the income statement.

• Account numbers 1, 3, and 8 will appear on the balance sheet.

• Account numbers 2, 5, and 8 will appear on the statement of cash flows.

• Account numbers 4, 5, and 6 will appear on the statement of changes in stockholders’ equity.

Required information

[The following information applies to the questions displayed below.]

Which of the following is a true statement? (Note: A statement may be true even if it does not identify all accounts that have debit balances on that particular financial statement).

Multiple Choice

• Account numbers 1, 3, and 5 normally have debit balances.

• Account numbers 2, 4, and 5 normally have debit balances.

• Account numbers 2, 5, and 8 normally have debit balances.

• Account numbers 4, 5, and 6 normally have debit balances.

The Gourmand Cooking School runs short cooking courses at its small campus. Management has identified two cost drivers it uses in its budgeting and performance reports—the number of courses and the total number of students. For example, the school might run two courses in a month and have a total of 61 students enrolled in those two courses. Data concerning the company’s cost formulas appear below:

For example, administrative expenses should be $3,900 per month plus $42 per course plus $4 per student. The company’s sales should average $880 per student.

The company planned to run four courses with a total of 61 students; however, it actually ran four courses with a total of only 57 students. The actual operating results for September appear below:

Required:

Prepare a flexible budget performance report that shows both revenue and spending variances and activity variances for September. (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Input all amounts as positive values.)

1. Under monopolistic competition, which of the following is true:

A) In the short run, the firm behaves as a firm in perfect competition.

B) In the long run equilibrium, firms will make positive profits.

C) If there are economic profits, in the long run new firms enter leading to a decrease in demand for the existing firm.

D) All of the above are true.

E) None of the above are true

2. In the market equilibrium, a single-price monopolist

A) always generates lower total surplus than in perfect competition

B) restricts output to increase profits

C) charges a price higher than the marginal cost

D) a, b, and c are true

E) always produces at an efficient scale

3. Which of the following statement(s) are true?

A) A single price monopolist producing in the inelastic part of the demand curve could increase its total revenue by increasing the price.

B) A single-price monopolist that maximizes profits never produces in the inelastic part of the demand curve

C) The total revenue of single-price monopolist is minimized when demand is perfectly elastic.

D) a and b are true

E) b and c are true

4. Which of the following statement(s) are true?

A) Unregulated natural monopoly produces at a socially efficient scale.

B) Natural monopoly under average-cost pricing produces at an efficient scale

C) Natural monopoly under marginal-cost pricing generates a deadweight loss.

D) b and c are true

E) none of the above are true