|
Alison and Chuck Renny began operations of their furniture repair shop (Lazy Sofa Furniture, Inc.) on January 1, 2014. The annual reporting period ends December 31. The trial balance on January 1, 2015, appears below (amounts are rounded to thousands of dollars to simplify). |
|
Account Titles |
Debit |
Credit |
||||
|
Cash |
$ |
4 |
||||
|
Accounts Receivable |
5 |
|||||
|
Supplies |
3 |
|||||
|
Equipment |
7 |
|||||
|
Accumulated Depreciation |
$ |
0 |
||||
|
Software |
11 |
|||||
|
Accumulated Amortization |
4 |
|||||
|
Accounts Payable |
8 |
|||||
|
Notes Payable (long-term) |
0 |
|||||
|
Salaries and Wages Payable |
0 |
|||||
|
Interest Payable |
0 |
|||||
|
Income Tax Payable |
0 |
|||||
|
Unearned Revenue |
0 |
|||||
|
Common Stock |
13 |
|||||
|
Retained Earnings |
5 |
|||||
|
Service Revenue |
0 |
|||||
|
Supplies Expense |
0 |
|||||
|
Depreciation Expense |
0 |
|||||
|
Salaries and Wages Expense |
0 |
|||||
|
Amortization Expense |
0 |
|||||
|
Interest Expense |
0 |
|||||
|
Income Tax Expense |
0 |
|||||
|
Totals |
$ |
30 |
$ |
30 |
||
|
Transactions during 2015 (summarized in thousands of dollars) follow: |
|
|
1. |
Borrowed $22 cash on July 1, 2015, signing a six-month note payable. |
|
2. |
Purchased equipment for $19 cash on July 1, 2015. |
|
3. |
Issued additional shares of common stock for $4. |
|
4. |
Earned revenues for 2015 in the amount of $65, including $8 on credit and $57 received in cash. |
|
5. |
Recognized salaries and wages expenses for 2015 of $36, paid in cash. |
|
6. |
Purchased additional equipment, $4 cash. |
|
7. |
Collected accounts receivable, $7. |
|
8. |
Paid accounts payable, $10. |
|
9. |
Purchased on account supplies for future use, $9. |
|
10. |
Received a $4 cash deposit on work to start January 15, 2016. |
|
Data for adjusting journal entries: |
|
|
11. |
Amortization for 2015, $4. |
|
12. |
Supplies of $5 were counted on December 31, 2015. |
|
13. |
Depreciation for 2015, $1. |
|
14. |
Accrued interest on notes payable of $1. |
|
15. |
Wages earned since the December 24 payroll not yet paid, $2. |
|
16. |
Income tax for 2015 was $3 and will be paid in 2016. |
| Please show step by step | |
In: Accounting
Let X and Y have the following joint density function f(x,y)=k(1-y) , 0≤x≤y≤1.
In: Statistics and Probability
On january 1, 2017, A company issued 12% stated rate bonds with a face amount of $200 million. The bonds mature on january 1, 2027 and market rate was 14%. Please answer the following: 1.n= 2.i= 3.Total present value of interest payment= 4.Total present value of principal= 5.Total price of bonds=
In: Accounting
In: Finance
LAB QUESTION 1
On January 1, 2018, Major Company pays a lump sum amount of $2,000,000 for Land, Building 1, Building 2 and Land Improvements 1. Building 1 has no value and will be demolished. Building 2 will be an office and is appraised at $1,440,000 with a useful life of 20 years and a salvage value of $200,000. Land Improvements 1 is appraised at $240,000 with a useful life of 5 years and a salvage value of $40,000. The Land is appraised for $720,000. Major Company also incurs the following additional costs:
Cost to Demolish Building 1 $ 200,000
Cost of Additional Land Grading $ 60,000
Cost to Construct Building 3 $ 2,150,000 (useful life of 25 years
and $150,000 salvage)
Cost to Construct Land Improvements 2 $ 90,000 (useful life of 6
years and no salvage)
1. Prepare a table with the following column headings: Land, Building 1, Building 2, Building 3, Land Improvements 1 and Land Improvements 2. Allocate the costs incurred by Major to the appropriate columns and total each column (Lab 1 Solution Tab).
2. Prepare a single journal entry to record all of the incurred costs assuming they are paid on January 1, 2018 (Lab 1 Solution Tab).
3. Using the straight-line method, prepare the December 31, 2018 adjusting entries to record the depreciation expense for the first year the assets were in use (Lab 1 Solution Tab).
LAB QUESTION 2
A machine costing $600,000 with a four year life and an estimated salvage value of $40,000 is installed in Porter Company's factory on January 1. The factory manager estimates the machine will produce 500,000 units of product during its life. It actually produces the following units: Year 1 - 240,000 units ; Year 2 - 125,000 units; Year 3 - 120,000 units and Year 4 - 25,000 units. The total number of units produced by the end of Year 4 exceeds the original estimate - the difference was not predicted - the machine cannot be deprecated below its salvage value. Populate the depreciation tables (Lab 2 Solution Tab) based on (A) Straight Line Method; (B) Units of Production Method; (C) Double Declining Balance Method
In: Accounting
push(self, value: object) -> None:
This method adds a new element to the top of the stack.
Output:
STACK: 0 elements. []
STACK: 5 elements. [1, 2, 3, 4, 5]
pop(self) -> object:
Output:
Exception: <class ' main .StackException'> 5
4
3
2
1
Exception: <class ' main .StackException'
top(self) -> object:
Output:
No elements in stack <class ' main .StackException'> STACK: 2 elements. [10, 20]
20
20
STACK: 2 elements. [10, 20]
#Code
from dynamic_array import *
class StackException(Exception):
"""
Custom exception to be used by Stack class
DO NOT CHANGE THIS METHOD IN ANY WAY
"""
pass
class Stack:
def __init__(self):
"""
Init new stack based on Dynamic Array
DO NOT CHANGE THIS METHOD IN ANY WAY
"""
self.da = DynamicArray()
def __str__(self) -> str:
"""
Return content of stack in human-readable form
DO NOT CHANGE THIS METHOD IN ANY WAY
"""
out = "STACK: " + str(self.da.length()) + " elements. ["
out += ', '.join([str(self.da.get_at_index(_))
for _ in range(self.da.length())])
return out + ']'
def is_empty(self) -> bool:
"""
Return True is the stack is empty, False otherwise
DO NOT CHANGE THIS METHOD IN ANY WAY
"""
return self.da.is_empty()
def size(self) -> int:
"""
Return number of elements currently in the stack
DO NOT CHANGE THIS METHOD IN ANY WAY
"""
return self.da.length()
def push(self, value: object) -> None:
"""
TODO: Write this implementation
"""
pass
def pop(self) -> object:
"""
TODO: Write this implementation
"""
pass
def top(self) -> object:
"""
TODO: Write this implementation
"""
pass
# BASIC TESTING
if __name__ == "__main__":
print("\n# push example 1")
s = Stack()
print(s)
for value in [1, 2, 3, 4, 5]:
s.push(value)
print(s)
print("\n# pop example 1")
s = Stack()
try:
print(s.pop())
except Exception as e:
print("Exception:", type(e))
for value in [1, 2, 3, 4, 5]:
s.push(value)
for i in range(6):
try:
print(s.pop())
except Exception as e:
print("Exception:", type(e))
print("\n# top example 1")
s = Stack()
try:
s.top()
except Exception as e:
print("No elements in stack", type(e))
s.push(10)
s.push(20)
print(s)
print(s.top())
print(s.top())
print(s)
In: Computer Science
Rosie Dry Cleaning was started on January 1, Year 1. It
experienced the following events during its first two years of
operation:
Events Affecting Year 1
Events Affecting Year 2
Required
a. Organize the transaction data in accounts under
an accounting equation.
b. Determine the following amounts:
c. Determine the following amounts:
Req A1: Organize the transaction data in accounts under an accounting equation for Year 1. (Enter any decreases to account balances with a minus sign. Not all cells in the "Accounts Titles for Retained Earnings" column may require an input - leave cells blank if there is no corresponding Retained Earnings input needed.)
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Req A2: Organize the transaction data in accounts under an accounting equation for Year 2. (Enter any decreases to account balances with a minus sign. Not all cells in the "Accounts Titles for Retained Earnings" column may require an input - leave cells blank if there is no corresponding Retained Earnings input needed.)
Reg B: Determine the following amounts for the Year 1 accounting period. (Round your answers to nearest whole dollar amount.)
Req C: Determine the following amounts for the Year 2 accounting period. (Round your answers to nearest whole dollar amount.)
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
In: Accounting
Corp. discovered an error made in Year 1 while preparing Year 2 financial statements.
Fifteen months worth of insurance costs, totaling $15,000, were expensed in Year 1.
Company policy requires all insurance payments to be recorded initially as Prepaid Insurance.
A reconciliation of insurance showed the correct amount had been expensed in Year 2. Corp.'s tax rate in both years was 30%.
Year 1 ending retained earnings was reported at $86,000.
Year 2 net income was $45,000 & $10,000 of dividends were declared & paid in Year 2.1
1) Mkae a JE showing total insurance expensed in year 1
2) Make JE showing proper amount of insurance expensed in year 1
3) Make the appropriate journal entry to correct this error
4) Prepare the Statement of Retained Earnings for year 2 year end
In: Accounting
A researcher is reviewing 26 UAS accidents and wants to prove that human error involving unsafe acts are mainly due to preconditions. Of the accident information two variables were selected to prove the Hypothesis that preconditions for unsafe acts are a greater factor than unsafe supervision. Using the provided data answer the following and show results of each step.
1. Determine normality
2. What statistical Test is most appropriate
3. Determine if the hypothesis is true
4. What test should you use to show validity of hypothesis results
5. Show all results using either mini tab, excel or stat crunch.
| DoD HFACS USAF Accidents | |
| Oranization Influence | Unsafe Acts |
| 21 | 17 |
| 1 | 1 |
| 20 | 3 |
| 0 | 1 |
| 3 | 14 |
| 3 | 1 |
| 18 | 2 |
| 3 | 13 |
| 5 | 9 |
| 11 | 2 |
| 2 | 0 |
| 2 | 5 |
| 13 | 1 |
| 8 | 6 |
In: Statistics and Probability
The weekly demand and supply schedules for pens in a free market are presented below:
|
Price (Rs/unit) |
9 |
8 |
7 |
6 |
5 |
4 |
3 |
2 |
1 |
|
Quantity demanded (units) |
4 |
6 |
8 |
10 |
12 |
14 |
16 |
18 |
20 |
|
Quantity supplied (units) |
20 |
18 |
16 |
14 |
12 |
10 |
8 |
6 |
4 |
|
(a) |
Plot the demand and supply curves |
|
|
(b) |
What is the equilibrium price and quantity? |
In: Economics