Use the May 31 fiscal year-end information from the following
ledger accounts (assume that all accounts have normal
|M. Muncel, Capital||Acct. No. 301||Salaries Expense||Acct. No. 622|
|May 31||G2||83,000||May 31||G2||41,500|
|M. Muncel, Withdrawals||Acct. No. 302||Insurance Expense||Acct. No. 637|
|May 31||G2||48,000||May 31||G2||3,900|
|Services Revenue||Acct. No. 401||Rent Expense||Acct. No. 640|
|May 31||G2||146,246||May 31||G2||8,400|
|Depreciation Expense||Acct. No. 603||Income Summary||Acct. No. 901|
1. Prepare closing journal entries from the above ledger accounts.
2. Post the entries from Requirement 1 to the General Ledger accounts below. Use the transaction number from Requirement 1 as the date.
This is one big question with different parts!
I expect to need four turkeys to feed my 20 Thanksgiving guests. However, spiking the eggnog (adding alcohol) with bourbon will induce my Thanksgiving guests to eat 25% less turkey. Turkeys cost $30 each, and the bourbon needed costs $20. How much money do I save if I spike the eggnog? A. $0 B. $10 C. $30 D.$120
How cheap would turkeys have to be (per turkey) for me to not have the incentive to spike the eggnog? A. free B. $10 C. $15 D. $20
A monopoly retailer makes a 50% margin on the $30 turkeys. Is there a price for the bourbon that the retailer can set (for the amount of bourbon needed to spike the turkeys) such that I will purchase the bourbon and the retailer will want to sell it, if the wholesale price of the bourbon is $10? (Assume the only added value from spiking the eggnog is from the reduced cost of turkey and that this type of bourbon is only used to spike eggnog).
In: Operations Management
The Justice Corporation mass produces wooden chairs. The standard costs follow:
Plastic 10 pounds at $4.50 per pound.
Molding 3 feet at $3.00 per foot.
Direct labor 4 hours at $15.00 per hour.
Variable overhead $3 per direct labor hour.
Fixed overhead $.75 per direct labor hour.
The static budget called for 80,000 direct labor hours in June.
Transactions during June follow:
Part III: The following question requires hand calculations. Be sure to show ALL work and round final answers appropriately. You MUST show all work in order to receive full points.
Z-scores (20 points total)
The average age reported for onset into delinquent activity for the population of prison inmates is 12 with a standard deviation of 2.4. Based on this information and assuming the population is normally distributed:
An inmate's age of one set is 17. Is he in the top 15% of ages? (5 points)
In muscle tissue, the ratio of phosphorylase a to phosphorylase b determines the rate of conversion of glycogen to glucose 1‑phosphate.
Classify how each event affects the rate of glycogen breakdown in isolated muscle tissue.
AMP allosteric binding activates phosphorylase b
removal of phosphate groups from phosphorylase a
addition of phosphorylase b kinase
[ATP] exceeds [AMP]
addition of a kinase inhibitor
treatment with insulin
addition of a phosphatase inhibitor
treatment with glucagon
Workers’ compensation represents a compromise between the needs of employees and the needs of employers.
Question 2 (2 points)
Contributory negligence means that an employee knew that the job involved risk; he or she could not expect to be compensated when the risks resulted in accidents and injuries.
Question 3 (2 points)
There are three types of workers’ compensation insurance: state funds, private insurance, and self-insurance.
Question 4 (2 points)
Is the state that exists when it is probable that an injured worker, who is currently unable to work, will be able to resume gainful employment with no or partial disability
Exists when an injured employee's disability is such that he or she cannot compete in the job market
Exists when an injury is minor
None of these
Question 5 (2 points)
Which of the following is the whole-person theory of handling permanent partial disability cases?
Requires a determination of how much the employee could have earned had the injury not occurred.
Applied like a subtraction problem. What the worker can do after recuperating from the injury is determined and subtracted from what he or she could do before the accident.
Based not just on what the employee earned at the time of the accident, but also on what he or she might have earned in the future.
None of the above
In: Civil Engineering
One main feeder have two sub feeders (Sub Feeder-A and Sub Feeder-B). If the Sub Feeder-A has demand at a time to be 35 kW and Sub Feeder-B has demand at a time as 42 kW, calculate the total individual maximum demand (MD), the demand of the whole system and the diversity factor if the maximum demand of the main feeder is recorded as 70 kW. Explain the possibility of having the main feeder’s MD to be equal with the sum of both sub feeder’s MD.
In: Electrical Engineering
You have stated several reasons as to why a company could have negative cash flows. Many start-up companies experienced negative cash flows during the first few years of their operations. Would you invest in a start up company if it has negative cash flows for the first three years of its operations, and in the 4th year the company is still expecting a negative cash flow?
|Select the relevant costs and other data from the following,|
|and calculate the All Source F&D Cost for Big Oil Co. on a BOE basis|
|(Use a 6 to 1 conversion ratio)|
|Big Oil Data for All Source F&D Calculation - Oil and Gas|
|Unproved property acquisitions||$75|
|Proved Property Acquisitions||$250|
|Oil Reserve Additions||Million Barrels|
|Oil reserve discoveries and extensions||105||MMBO|
|Gas Reserve Additions||Bcf|
What goals are attempted to be accomplished by the presentation of the cash flow statement to investors?
Discuss how the format of the Cash flow statement may have contributed towards meeting its objectives.
How does moral reasoning fit into your religious or nonreligious theory?
To evaluate the effect of a treatment, a sample of n = 6 is obtained from a population with a mean of μ = 80 and the treatment is administered to the individuals in the sample. After treatment, the sample mean is found to be M = 72. a. If the sample variance is s2 = 54, are the data sufficient to conclude that the treatment has a significant effect using a two-tailed test with α =0.05? b. If the sample variance is s2 = 150, are the data sufficient to conclude that the treatment has a significant effect using a two-tailed test with α =0.05? c. Comparing your answers for parts a and b, how does the variability of the scores in the sample influence the outcome of a hypothesis test?
In what court was the Bates and Cramer vs Ames, heard for breach of contract, for not re soding the lawn of Antlers local lodge.
In: Operations Management
Identify the following as an asset, liability, or equity by writing the letter of the correct classification in the space provided.
Helsinki Co. is considering a new project that will cost $328,500. The expected net cash inflows from this project are $62,000 per year for 8 years. If Helsinki’s weighted average cost of capital (WACC) is 6%, what is the project’s net present value (NPV), IRR, Payback Period, and Discount Period?
Please show work.