Chapter 10 The main website we will be working with is https://agingstats.gov/docs/LatestReport/OA20_508_…42020.pdf Read pages 2-13 of Older Americans 2020 Look at the following questions and answer them o What changes can you see in the composition of the elderly population? o Observe the differences in marital status and living arrangements between men and women. Why do you think these differences occur? Which elderly are more likely to end up or be in nursing homes? o Observe also the geographical distribution of the elderly population. Why is it so imbalanced? o How does this compare to the elderly in your life? People like grandparents or neighbors or family friends. Do they need assistance or not? If so, who is providing assistance to them? Do they provide assistance to others? How does family interact with this generation?
Chapter 11 I want you to focus on all the materials we have had, especially the websites that are within your lecture notes.These need to be looked at carefully in order to do justice to this assignment. You will have longer to do it because we are spending two weeks doing this chapter. Please write two short essays on two of the three following subjects (1 page each essay) on what you learned about: 1) domestic violence 2) child abuse 3) date rape End each essay with a paragraph of what you think should be done to prevent this from further occurring. Note: This chapter is worth 10 points due to the two essays
ACC 206 Week One Exercise__CORRECTLY SOLVED__CPA YOU CAN TRUST !!!!!!!!!!!!!!!!!!!! college essay help free
ACC 206 Week 1 Assignment: Chapter One Problems
Please complete the following 5 exercises below in either Excel or a word document (but must be single document). You must show your work where appropriate (leaving the calculations within Excel cells is acceptable). Save the document, and submit it in the appropriate week using the Assignment Submission button.
Ch 1 Critical Thinking Question 5:
Answer the following questions:
Why are noncash transactions, such as the exchange of common stock for a building for example, included on a statement of cash flows? How are these noncash transactions disclosed?
Chapter 1 Exercise 1:
1. Classification of activities
Classify each of the following transactions as arising from an operating (O), investing (I), financing (F), or noncash investing/financing (N) activity.
________ Received $80,000 from the sale of land.
________ Received $3,200 from cash sales.
________ Paid a $5,000 dividend.
________ Purchased $8,800 of merchandise for cash.
________ Received $100,000 from the issuance of common stock.
________ Paid $1,200 of interest on a note payable.
________ Acquired a new laser printer by paying $650.
________ Acquired a $400,000 building by signing a $400,000 mortgage note.
Chapter 1 Exercise 4:
4. Overview of direct and indirect methods
Evaluate the comments that follow as being True or False. If the comment is false, briefly explain why.
Both the direct and indirect methods will produce the same cash flow from operating activities.
Depreciation expense is added back to net income when the indirect method is used.
One of the advantages of using the direct method rather than the indirect method is that larger cash flows from financing activities will be reported.
The cash paid to suppliers is normally disclosed on the statement of cash flows when the indirect method of statement preparation is employed.
The dollar change in the Merchandise Inventory account appears on the statement of cash flows only when the direct method of statement preparation is used.
Chapter 1 Exercise 6:
6. Equipment transaction and cash flow reporting
Dec. 31, 20X4
Dec. 31, 20X3
Property, Plant & Equipment:
Less: Accumulated depreciation
New equipment purchased during 20×4 totaled $280,000. The 20×4 income statement disclosed equipment depreciation expense of $41,000 and a $9,000 loss on the sale of equipment.
Determine the cost and accumulated depreciation of the equipment sold during 20X4.
Determine the selling price of the equipment sold.
Show how the sale of equipment would appear on a statement of cash flows prepared by using the indirect method.
Chapter 1 Problem 3:
3. Cash flow information: Direct and indirect methods
The comparative year-end balance sheets of Sign Graphics, Inc., revealed the following activity in the company’s current accounts:
Increase / Decrease)
Accounts receivable (net)
The accounts payable were for the purchase of merchandise. Prepaid expenses and accrued liabilities relate to the firm’s selling and administrative expenses. The company’s condensed income statement follows.
SIGN GRAPHICS INC.
for the Year Ended December 31, 20×5
Less: Cost of goods sold
Less: Selling & administrative expenses
Add: gain on sale of land
Income before taxes
Long-term investments were purchased for cash at a cost of $74,600.
Cash proceeds from the sale of land totaled $76,200.
Store equipment of $44,000 was purchased by signing a short-term note payable. Also, a $150,000 telecommunications system was acquired by issuing 3,000 shares of preferred stock.
A long-term note of $49,400 was repaid.
Twenty thousand shares of common stock were issued at $5.19 per share.
The company paid cash dividends amounting to $128,600.
Prepare the operating activities section of the company’s statement of cash flows, assuming use of:
The direct method.
The indirect method.
Prepare the investing and financing activities sections of the statement of cash flows.
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Please help me with this accounting question!
ACC 205 Week Three Exercise (All Questions Answered + Formulas) | A+ | GUARANTEED college essay help free
Week Three Exercise Assignment
1. Specific identification method. Boston Galleries uses the specific identification method for inventory valuation. Inventory information for several oil paintings follows.
1/2 Beginning inventory
Woods and Moon were sold during the year for a total of $35,000. Determine the firms
a. cost of goods sold.
b. gross profit.
c. ending inventory.
2. Inventory valuation methods: basic computations. The January beginning inventory of the White Company consisted of 300 units costing $40 each. During the first quarter, the company purchased two batches of goods: 700 Units at $44 on February 21 and 800 units at $50 on March 28. Sales during the first quarter were 1,400 units at $75 per unit. The White Company uses a periodic inventory system. Using the White Company data, fill in the following chart to compare the results obtained under the FIFO, LIFO, and weighted-average inventory methods.
Goods available for sale
Ending inventory, March 31
Cost of goods sold
3. Perpetual inventory system: journal entries. At the beginning of 20X3, Beehler Company implemented a computerized perpetual inventory system. The first transactions that occurred during 20X3 follow:
1/2/20X3 Purchases on account: 500 units @ $4 = $2,000
1/15/20X3 Sales on account: 300 units @ $8.50 = $2,550
1/20/20X3 Purchases on Account: 200 units @ $5 = $1,000
1/25/20X3 Sales on Account: 300 units @ $8.50 = $2,550
The company president examined the computer-generated journal entries for these transactions and was confused by the absence of a Purchases account.
a. Duplicate the journal entries that would have appeared on the computer printout under FIFO & LIFO.
b. Calculate the balance in the firms Inventory account under each method.
c. Briefly explain the absence of the Purchases account to the company president.
4. Inventory valuation methods: computations and concepts. Wave Riders Surfboard Company began business on January 1 of the current year. Purchases of surfboards were as follows:
100 boards @ $125
50 boards @ $130
246 boards @ $140
400 boards @ $150
74 boards @ $160
Wave Riders sold 710 boards at an average price of $250 per board. The company uses a periodic inventory system.
a. Calculate cost of goods sold, ending inventory, and gross profit under each of the following inventory valuation methods:
b. Which of the three methods would be chosen if managements goal is to
(1) produce an up-to-date inventory valuation on the balance sheet?
(2) show the lowest net income for tax purposes?
5. Depreciation methods. Betsy Ross Enterprises purchased a delivery van for $30,000 in January 20X7. The van was estimated to have a service life of 5 years and a residual value of $6,000. The company is planning to drive the van 20,000 miles annually. Compute depreciation expense for 20X8 by using each of the following methods:
a. Units-of-output, assuming 17,000 miles were driven during 20X8
6. Depreciation computations. Alpha Alpha Alpha, a college fraternity, purchased a new heavy-duty washing machine on January 1, 20X3. The machine, which cost $1,000, had an estimated residual value of $100 and an estimated service life of 4 years (1,800 washing cycles). Calculate the following:
a. The machines book value on December 31, 20X5, assuming use of the straight-line depreciation method.
b. Depreciation expense for 20X4, assuming use of the units-of-output depreciation method. Actual washing cycles in 20X4 totaled 500.
c. Accumulated depreciation on December 31, 20X5, assuming use of the double-declining-balance depreciation method.
7. Depreciation computations: change in estimate. Aussie Imports purchased a specialized piece of machinery for $50,000 on January 1, 20X3. At the time of acquisition, the machine was estimated to have a service life of 5 years (25,000 operating hours) and a residual value of $5,000. During the 5 years of operations (20X3 – 20X7), the machine was used for 5,100, 4,800, 3,200, 6,000, and 5,900 hours, respectively.
a. Compute depreciation for 20X3 – 20X7 by using the following methods: straight line, units of output, and double-declining-balance.
b. On January 1, 20X5, management shortened the remaining service life of the machine to 20 months. Assuming use of the straight-line method, compute the companys depreciation expense for 20X5.
c. Briefly describe what you would have done differently in part (a) if Aussie Imports had paid $47,800 for the machinery rather than $50,000. In addition, assume that the company incurred $800 of freight charges $1,400 for machine setup and testing, and $300 for insurance during the first year of use.
Week 5 (3) college essay help free
There are some problems that can and may arise with managers and budgets. Can we explain and describe the cycle of bias by lower-level managers and bias-adjustment by upper-level managers that can spiral out of control and result in meaningless budgets?
A budget is a very useful and important tool for any business. A budget is even important in our personal lives assisting us with our expenses. As a controller, I feel like I am constantly in “budget mode” as everything revolves around the corporate budget. As you begin to read the week four materials on budgets and the budgeting process, I am wondering your thoughts on the following: Can a budget contribute to good
Finance MCQs college essay help free
Which of the following is not an advantage of operating a business as a sole proprietorship? Question 1 options:
Ease of formation.
Limited personal liability.
The right to receive all of the profits of the business.
Easy transferability of ownership.
Question 2 (5 points)
Which of the following is true regarding the liability of the partners in a properly formed and run limited partnership? Question 2 options:
Both the limited and general partners have unlimited liability for the partnership debts.
The limited partners have unlimited liability and the general partners have limited liability for the partnership debts.
Neither the limited nor the general partners have unlimited liability for the partnership debts.
The limited partners have limited liability and the general partners have unlimited liability for the partnership debts.
Question 3 (5 points)
What is the most important difference between a limited partnership and a limited liability partnership? Question 3 options:
There must be one partner with unlimited liability in a limited partnership, but not in a limited liability partnership.
A limited partnership is not a taxable entity, but a limited liability partnership is a taxable entity.
There must be one partner with unlimited liability in a limited liability partnership, but not in a limited partnership.
There is a maximum number of partners permitted in a limited partnership, but not in a limited liability partnership.
Question 4 (5 points)
Which of the following is not true about a limited liability company? Question 4 options:
Limited liability companies can be managed by all members.
A filing with the appropriate state office is required to form a limited liability company.
Federal law provides that limited liability companies must always be taxed as partnerships.
Limited liability companies can be managed by managers.
Question 5 (5 points)
Which of the following is not a characteristic of a properly formed and run corporation? Question 5 options:
Free transferability of shares.
Unlimited liability of owners.
Question 6 (5 points)
The duty of loyalty owed by a corporate officer or director to a corporation means that officers and directors: Question 6 options:
Cannot make a secret profit on a transaction involving the corporation.
Cannot receive any compensation from sources other than the corporation.
Must not receive compensation for serving on the board of directors.
Must devote themselves full-time to the corporation.
Question 7 (5 points)
Under the business judgment rule: Question 7 options:
Directors and officers have an obligation to exercise sound business judgment, and any failure to do so results in a rebuttable presumption of negligence.
Directors and officers have an obligation to exercise sound business judgment, and any failure to do so is per se negligence that results in liability to the corporation.
Directors and officers are never liable in suits filed against them by shareholders.
Directors and officers are not liable for honest mistakes of judgment.
Question 8 (5 points)
Under the 1933 Securities Act, a person responsible may be held liable for: Question 8 options:
A material omission or misstatement.
Failure to file a registration statement or deliver a prospectus as required by law.
All other answers are correct.
Question 9 (5 points)
When an insider discloses material insider information to a noninsider tippee, the tipper is liable for: Question 9 options:
The profits of all traders during the period before the information becomes public.
The tippee’s profits, but not the profits made by any remote tippees.
The tipper’s own trading only.
The profits of both the immediate tippee, and the profits of any remote tippees.
Question 10 (5 points)
An agent desiring to not be held liable on contracts entered into on behalf of the principal should make sure that the principal is: Question 10 options:
Either partially disclosed or fully disclosed.
Question 11 (5 points)
Compared to an employee, an independent contractor is characterized by: Question 11 options:
Less ability to hire others to assist them.
A lack of liability for their own actions.
More freedom to do their work in the manner they determine.
Not being paid as much for the work performed.
Question 12 (5 points)
Which of the following are protected classes under Title VII of the Civil Rights Act of 1964? Question 12 options:
Race, national origin, and sex.
Race, national origin, and political affiliation.
National origin, race, and alien status.
Race, religion, and left-handedness.
Question 13 (5 points)
In addition to not discriminating on the basis of religion, an employer is required to: Question 13 options:
Determine the strength of an employee’s religious beliefs before making accommodations that have an impact on other employees.
Make reasonable accommodations for employees’ religious practices and observances.
Allow employees to take time off on their day of worship.
Identify the religious beliefs of its employees.
Question 14 (5 points)
The Americans with Disabilities Act requires that: Question 14 options:
Persons with qualifying disabilities be given preference in hiring whenever possible.
Persons with disabilities notify a potential employer of disabilities prior to being hired.
Applicants for jobs are asked about their disabilities in order to identify them.
Employers make reasonable accommodations to accommodate employees’ disabilities.
Question 15 (5 points)
A partner can be held liable to perform on contracts entered into by his partners, but never for the torts of his partners. Question 15 options:
Question 16 (5 points)
Assuming that a franchise agreement establishes the franchisee as an independent contractor in relation to the franchisor, the franchisor and franchisee usually are not liable for each other’s torts. Question 16 options:
Question 17 (5 points)
A statutory insider under Sections 16 (a) & (b) of the Securities Exchange Act of 1934 is liable for so-called short-swing profits even if he/she has not used inside information. Question 17 options:
Question 18 (5 points)
The doctrine that holds the principal liable for the negligence of an agent who is acting within the scope of his authority is called respondeat superior. Question 18 options:
P14-2A Copa Company, a manufacturer of stereo systems (with explanations) college essay help free
Copa Company, a manufacturer of stereo systems, started its production in October 2012. For the preceding 3 years Copa had been a retailer of stereo systems. After a thorough survey of stereo system markets, Copa decided to turn its retail store into a stereo equipment factory.
Raw materials cost for a stereo system will total $74 per unit. Workers on the production lines are on average paid $12 per hour. A stereo system usually takes 5 hours to complete. In addition, the rent on the equipment used to assemble stereo systems amounts to $4,900 per month. Indirect materials cost $5 per system. A supervisor was hired to oversee production; her monthly salary is $3,000. Janitorial costs are $1,300 monthly. Advertising costs for the stereo system will be $8,500 per month. The factory building depreciation expense is $7,200 per year. Property taxes on the factory building will be $9,000 per year.
A. Complete the answer sheet. Assuming that Copa manufactures, on average, 1,300 stereo systems per month, enter each cost item on your answer sheet, placing the dollar amount per month under the appropriate headings. Total the dollar amounts in each of the columns.
B. Compute the cost to produce one stereo system.
ACC 225 AXIA FINAL COLO COMPANY. ALL CORRECT! A++ college essay help free
Final Project: Comprehensive Problem-Perpetual
Resources: Appendix A, Fundamental Accounting Principles, p. 301, and Appendix C
Due Date: Day 7 [Individual] forum
Complete the Comprehensive Problem-Perpetual. In this project, follow the steps of the
accounting cycle to process given transactions in a business environment. Then,
synthesize special journals, a trial balance, financial statements, and a post-closing trial
Use the spreadsheet in Appendix C available on aXcess to complete the problems. Be
sure to use the tabs labeled P07C and Given P07C.
Post your answers as an attachment.
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ACC 205 Week 4 Assignment (All Questions Answered + Explanations) | A+ work | Guaranteed college essay help free
Preparing a bank reconciliation and journal entries
The December cash records of Dunlap Insurance follow:
Cash Receipts Cash Payments
Date Cash Debits Check No. Cash Credit
Dec. 4 $4,170 1416 $ 860
9 510 1417 130
14 5 30 1418 650
17 2,180 1419 1,490
31 1,850 1420 1,440
Dunlaps Cash account shows a balance of $16,740 at December 31. On December 31, Dunlap Insurance received the following bank statement:
Bank Statement for December
Beginning Balance $13,600
Deposits and other Credits
Dec. 1 EFT $ 300
22 BC 1,400 9,090
Checks and other Debits
Dec 8 NSF $1,000
Dec 11 (Check 1416) 860
Dec 19 EFT 700
Dec 22 (Check 1417) 130
Dec 29 (Check 1418) 650
Dec 31 (Check 1419) 1,940
Dec 31 SC 60 (5,340 )
Ending balance $ 17,350
Explanations: BC = bank collection; EFT = electronic funds transfer;
NSF = nonsufficient funds checks; SC = service charge
The EFT credit was a receipt of rent. The EFT debit was an insurance payment.
The NSF check was received from a customer
The $1400 bank collection was a note receivable.
The correct amount of check 1419 for rent is $1940. Dunlaps controller mistakenly recorded the check for $1490
Prepare the bank reconciliation of Dunlap Insurance at December 31, 2012
Journalize any required entries from the bank reconciliation
Accounting for uncollectible accounts using the allowance and direct write-off methods, and reporting receivables on the balance sheet
On August 31, 2012, Daisy Floral Supply had a $155,000 debit balance in Accounts receivable and a $6,200 credit balance in Allowance for uncollectible accounts.
During September, Daisy made:
* sales on account, $590,000.
* collections on account $62,700
* write-offs of uncollectible receivables, $7,000
Journalize all September entries using the allowance method. Uncollectible account expense was estimated at 3% of credit sales. Show all September activities in Accounts receivable, Allowance for uncollectible accounts, and Uncollectible account expense (post to these T- accounts)
Using the same facts, Journalize the entries using the direct write-off method. Post to Accounts receivable and Uncollectible account expense and show their balances at September 30, 2012.
What amount of uncollectible account expense would Daisy report on its September income statement under each of the two method? Which amount better matches expense with revenue? Give your reason
What amount of net accounts receivable would Daisy report on its September 30, 2012 balance sheet under each two methods? Which amount is more realistic? Give your reason.
Accounting for uncollectible accounts using allowance method, and reporting receivables on the balance sheet
At September 30, 2012, the accounts of Mountain Terrace Medical Center (MTMC) include the following:
1. Journalize the transactions
2. Open the allowance for uncollectible accounts T-account, and post entries affecting the account. Keep a running Balance
3. Show how MTMC should report net accounts receivable on its December 31, 2012 balance sheet. Use the three line reporting format.
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