Week 3 Assignment Aaron Cobb Acc-225 September 13th, 2013 Hratch Derkalousdian Week 3 Assignment 3-1 Classify the following adjusting entries as involving prepaid expenses (PE), unearned revenues (UR), accrued expenses (AE), or accrued revenues (AR). A. UR - To record revenue earned that was previously received as cash in advance. B. AE - To record annual depreciation expense. C. AE -To record wages expense incurred but not yet paid (nor recorded). D. AR -To record revenue earned but not yet billed (nor recorded).
4. * Truck # 3 COGS Inventory Sales $ $ 15,200.00 12,000.00 * $ $ Truck #4 $ 13,000.00 Common Stock Paid in Capital in Excess of par (1000 shares * $13 = $13,000 ; $13000 less $10,000 par val =$3,000) fair price; retail price
Case 11-4 Enager Industries, Inc. 1. Why was McNeil’s new product proposal rejected? Should it have been? Explain. ROA CALCULATION FOR EACH NEW PRODUCT Product A Product B Unit Sales 100,000 75,000 Unit Price 18 21 Total Sales $1,800,000 $1,575,000 Variable Cost per Unit Variable Costs Fixed Costs Net Income Total Asset Investment Return on Assets 9 900,000 510,000 $390,000 $3,000,000 13.00% 9 675,000 510,000 $390,000 $3,000,000 13.00% Product C 60,000 24 $1,440,000 9 540,000 510,000 $390,000 $3,000,000 13.00% The McNeil’s new product proposal was rejected because it shows a return on assets less than the required by the president of 15%.
Inventories and Additional Valuation Issues Chapter 9 E 9-14, P 9-1 , P 9-2 , P 9-5 E9-14: Beginning Inventory 170,000 Purchases for year 450,000 Purchase Returns 30,000 Sales 650,000 Sales Returns 24,000 Rate of gross profit on net sales 30% Merchandise with a selling price of $21,000 remained undamaged after the fire. Damaged merchandise with an original selling price of $15,000 had a net realizable value of $5,300. Compute the amount of the loss as a result of the fire, assuming that the corporation had no insurance coverage. My Calculations: Beginning Inventory 170,000 Add: Purchases 450,000 Less: Purchase Returns -30,000 Cost of goods available for sale 590,000 Sales 650,000 Less: Sales Returns -24,000 626,000 Less: 30% (626000 x .30) -187,800 Less: Cost of Goods Sold 438,200 Estimated Ending Inventory 151,800 Less: undamaged inventory -21,000 Estimated Lost Inventory 130,800 P9-1: A. $460 B.
ACCT 201 - Dryfus Company, Problem Dryfus Company, which began operations in 2002, invests its idle cash in trading securities. The following transactions relate to the company's short-term investments in its trading securities. 2002 Transactions in Trading Securities Mar. 10 Purchased 2,450 shares of Ford Motor Company, at $26 per share plus $1,653 commission. May 7 Purchased 2,200 shares of Lucent at $44.25 per share, plus a $968 commission.
High scenario: • Abandon: NPV (at t=1) = 1.4 + .54 = $1.94 million. • Continue: 10 cash flows of $540,000 each with R = 16% implies NPV (at t=1) = $3,027,534. They should continue. Expected NPV at time 0 = -2.1 + (.5*1.70 + .5*3.027534)/1.16 = -$62,270. (d) Even taking into account the option to
• $4,072. • $6,100. • $4,100. Multiple Choice Question 198 Given the following account balances at year end, compute the total intangible assets on the balance sheet of Janssen Enterprises. Cash $1,500,000 Accounts Receivable 4,000,000 Trademarks 1,000,000 Goodwill 2,500,000 Research & Development Costs 2,000,000 • $7,500,000.
(#6 Form B) Determining price Answer: e Diff: E EBIT = PQ - VQ - FC $95,000 = P(55,000) - (0.4)P(55,000) - $110,000 $205,000 = (0.6)(55,000)P $205,000 = 33,000P P = $6.21. . (#7 Form B) Breakeven price Answer: a Diff: E Total costs = $10,000 + $2(42,000) = $94,000. Price = $94,000/42,000 = $2.24. .
Chapter 10 odd problems solutions CHEM1405.P02 Dr. Stankus Dilution of Solutions 1. What volume of (a) 12.0 M HCl is required to make 2.00 L of 1.00 M HCl? Mconc x Vconc = Mdil x Vdil (12.0 M) x (Vconc) = (1.00 M) x (2.00 L) Vconc=0.167 L (b) 1.04 M Na2CO3 is required to make 0.500 L of 1.00 M Na2CO3? Mconc x Vconc = Mdil x Vdil (1.04 M) x (Vconc) = (1.00 M) x (0.500 L) Vconc=0.481 L 3. What volume of concentrated (18.0 M) sulfuric acid would be required to make each of the following?
Capital | + | EarnedCapital | Rev-enues | – | Expen-ses | = | NetIncome | Purchase $10,000 of inventory on credit | | | +10,000(Inventory) | = | +10,000(AP) | | | | | | – | | = | | Sell all inventory for $18,000 on account | | | +18,000(AR)-10,000(Inventory) | = | | | | | +8,000(Retained Earnings) | +18,000(Sales) | – | +10,000(COGS) | = | +8,000 | Collect $4,000 cash for accounts receivable | +4,000 | | –4,000(AR) | = | | | | | | | – | | = | | Pay $6,000 cash toward accounts payable | –6,000 | | | = | –6,000(AP) | | | | | | – | | = | | Topic: Using the Financial Statements Effects Template – Balance Sheet Only 2. Record the following transactions in the financial statements effects template below. a) Founder contributes $12,000 in cash in exchange for common stock. b) Obtain $18,000 short-term bank loan. c) Purchase equipment costing $14,000