Accounting work
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Accounting Help Needed by 10/10
Hi Can you do this? $40.
Floppy Company’s December 31, 2014 trial balance is as follows:
|
Floppy Corporation |
||
|
Trial Balance |
||
|
December 31, 2014 |
||
|
Account |
Debit |
Credit |
|
$43,500 |
|
|
|
Accounts Receivable |
53,500 |
|
|
Allowance for Doubtful Accounts |
1,500 |
|
|
Notes Receivable |
30,000 |
|
|
Merchandise Inventory |
55,000 |
|
|
Land |
20,000 |
|
|
Building |
150,000 |
|
|
Accumulated Depreciation, Building |
|
$15,000 |
|
Equipment |
50,000 |
|
|
Accumulated Depreciation, Equipment |
|
21,000 |
|
Goodwill |
26,000 |
|
|
Accounts Payable |
|
25,000 |
|
Long Term Notes Payable |
|
75,000 |
|
Common Stock, $10 par, 2,000 shares authorized & outstanding |
|
20,000 |
|
Retained Earnings |
|
147,000 |
|
Sales Revenue |
|
700,000 |
|
Salaries Expense |
150,000 |
|
|
Utilities Expense |
3,500 |
|
|
Cost of Goods Sold |
350,000 |
|
|
Administrative Expenses |
55,000 |
|
|
Sales Expenses |
15,000 |
_______ |
|
Totals |
$1,003,000 |
$1,003,000 |
Floppy is a small company and records adjusting entries & closing entries only at fiscal (calendar) year end. Correcting and adjusting entries have not been recorded.
Additional Information:
a. Notes Receivable is a 3-months, 6% note accepted on November 1, 2014.
b. Long Term Notes Payable is a 5-year, 5% note, that was signed on July 1, 2014. Interest is payable annually.
c. Building is depreciated at 3% per year. There is no salvage value.
d. Equipment is depreciated at 15% year. There is no salvage value.
e. Floppy discovered, on December 30th, that the inexperienced bookkeeper recorded in the general journal and general ledger that day’s $1,500 cash sales as a debit to Accounts Receivable and a credit to Sales Revenue.
f. The year-end physical count for Merchandise Inventory reflected a value of $51,500. Any difference in value will not be considered theft or loss.
g. Salaries for the last half of December, payable in January, amount to $5,500.
h. Floppy estimates that of the Accounts Receivable 5% will not be collectable.
Required:
a. Prepare in journal form, any required correcting entries
b. Prepare in journal form, all end-of-the period adjusting entries
c. Prepare a December adjusted trial balance
d. Prepare a classified balance sheet for the year ended December 31, 2014
e. Prepare in journal form, the closing entries for the year ended December 31, 2014
Floppy uses the period method and had the following inventory events during January:
|
Date |
Units Purchased |
Unit Cost |
Date |
Units Sold |
Unit Sales Price |
|
150 |
$7.00 |
Jan. 2 |
100 |
$10.00 |
|
|
Jan. 5 |
225 |
7.20 |
Jan. 7 |
125 |
10.00 |
|
Jan. 10 |
100 |
7.50 |
Jan. 12 |
75 |
12.00 |
|
Jan. 15 |
150 |
7.80 |
Jan. 17 |
200 |
12.50 |
|
Jan. 20 |
200 |
7.95 |
Jan. 24 |
150 |
15.00 |
|
Jan. 25 |
150 |
8.00 |
|
|
|
|
Jan. 30 |
75 |
8.20 |
|
|
|
Note: January 1 amount was the beginning inventory and unit value.
(Round all total dollar values to the nearest dollar. Round all unit values to the nearest penny.)
Required:
a. Calculate cost of goods available for sale.
b. Calculate the dollar value of sales.
c. Calculate the value of Ending Inventory and Cost of Good Sold under the following independent assumptions:
1) LIFO method
2) FIFO method
3) Average-cost method
Required: Prepare Flipper’s Supply Co. general journal entries for the following transactions:
|
Jan. 1 |
Accepted Flop’s 120 days, 10% note, as settlement of an outstanding $15,000 account receivable for goods sold last year |
|
Jan. 15 |
Purchased $10,000 Equipment from Floppy, signing a 9 month, 12% note |
|
Jan. 25 |
Loaned Flam Co. $30,000 cash, accepting a 90 days, 10% note |
|
Jan. 31 |
Prepared accrual adjusting entry for any interest revenue |
|
Apr. 25 |
Received payment in full from Flam Co. for outstanding note & interest |
|
May 1 |
Received payment in full from Flop Co. for outstanding note & interest |
|
Oct. 15 |
Paid Floppy in full |
Floppy Company purchased a refrigerated delivery truck for $65,000 on April 1, 2016. The plan is to use the truck for 5 years and then replace it. At the end of its useful life the truck is expected to have a salvage value of $10,000.
a. Prepare the depreciation table for Floppy’s truck assuming that the company uses the straight-line method for depreciation.
b. Prepare the depreciation table for Floppy’s truck assuming that the company uses the double-declining-balance depreciation method.
c. Compute the depreciation expense for 2016 for Floppy’s truck assuming the truck has an expected life of 200,000 miles and during 2016 the truck was driven 24,540 miles. Round your depreciation expense per mile to three decimal places.
Flipper Company has a January 15 mid-month gross salaries expense of $25,000. All is subject to FICA Social Security (6.2%), FICA Medicare (1.45%), state income tax (5%) and federal income tax (15%) withholdings. Additionally, all is subject to employer taxes to include FUTA (0.8%) and SUTA (5.4%) taxes. (Round all calculations to the nearest penny.)
Required:
a. Prepare the general journal entry to record the employer’s payroll liability.
b. Prepare the general journal entry to record the employer’s payroll tax liability.
c. Prepare the general journal entry to liquidate the liabilities accrued in parts (a) and (b) on January 22.
Flipper Company at the end of the fiscal 2014 year has the following information: Credit Sales, $2,500,000 Sales Returns & Allowances $25,000 Accounts Receivable $200,000 and Allowance for Doubtful Accounts with a debit o $1,500.
Required:
a. Prepare the general journal entry to record the end of the year adjusting entry if Flipper uses 0.5% of Net Credit Sales as the basis for determining Bad Debt Expense.
b. Prepare the general journal entry to record the end of the year adjusting entry if Flipper uses 5% of Accounts Receivable as the basis for determining Bad Debt Expense.
Question 7: After the bank reconciliation is prepared, the entry to record bank service charges would have a credit to:
a. Bank Service Charge Expense
b. Cash
c. Petty Cash
d. Cash Short and Over
e. None of the above
Question 8: Frick Company estimates uncollectible accounts using the percentage-of-receivables method and expects that 5 percent of outstanding receivables will be uncollectible for 2010. The balance in Accounts Receivable is $200,000, and the allowance account has a $3,000 credit balance before adjustment at year-end. The uncollectible accounts expense for 2010 will be:
a $7,000
b. $10,000
c. $13,000
d. $9,850
e. None of the above
Question 9: Frick Company issued its own $10,000, 90-day, non interest-bearing note to a bank. If the note is discounted at 10 percent, the proceeds to Frick are:
a. $10,000
b. $9,000
c. $9,750
d. $10,250
e. None of the above
Question 10: On 2010 July 1, Frick Company purchased equipment for $400,000, and installation and testing costs totaled $40,000. The equipment has an estimated useful life of 10 years and an estimated salvage value of $40,000. If Frick uses the double-declining-depreciation method, the depreciation expense for 2010 is:
a. $88,000
b. $72,000
c. $36,000
d. $44,000
e. $40,000
Question 11: The result of recording a capital expenditure as a revenue expenditure is an:
a. Overstatement of current year’s expense
b. Understatement of current year’s expense
c. Understatement of subsequent year’s net income
d. Overstatement of current year’s net income
e. None of the above
Question 12: A truck costing $45,000 and having an estimated salvage value of $4,500 and an original life of five years is exchanged for a new truck. The cash price of the new truck is $57,000, and a trade-in allowance of $22,500 is received. The old truck has been depreciated for three years using the straight-line method. The new truck would be recorded at:
a. $55,200
b. $57,000
c. $34,500
d. $43,200
e. None of the above
Question 13: Which of the following is not an advantage of the corporate form of organization?
a. Continuous existence of the entity
b. Limited liability of stockholders
c. Government regulation
d. Easy transfer of ownership
Question 14: Treasury stock should be shown on the balance sheet as a(n):
a. Reduction of the corporation’s stockholders’ equity
b. Current asset
c. Current liability
d. Investment asset
Question 15: When the stockholders invest cash in the business, what is the effect?
a Liabilities increase and stockholders’ equity increases
b Both assets and liabilities increase
c Both assets and stockholders’ equity increase
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paper
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Technical Project Paper: Information Systems Security
Due Week 10 and worth 150 points
Suppose you are the IT professional in charge of security for a small pharmacy that has recently opened within a shopping mall. The daily operation of a pharmacy is a unique business that requires a combination of both physical and logical access controls geared towards protecting medication and funds located on the premises, as well as the personally identifiable information and protected health information of your customers that resides on your system. Your supervisor has tasked you with identifying inherent risks associated with your pharmacy and establishing strong physical and logical access control methods to mitigate the identified risks.
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1) Firewall (1) |
4) Desktop computers (4) |
|
2) Windows 2012 Active Directory Domain Controllers (DC) (1) |
5) Dedicated T1 Connection (1) |
|
3) File Server (1) |
|
Write an eight to ten (8-10) page paper in which you:
- Identify at least five (5) potential physical threats that require attention.
- Determine the impact of at least five (5) potential logical threats that require attention.
- Detail the security controls (i.e., administrative, preventative, detective, and corrective) that the pharmacy could implement in order to protect it from the five (5) selected physical threats.
- Explain in detail the security controls (i.e., administrative, preventative, detective, and corrective) that could be implemented to protect from the five (5) selected logical threats.
- For each of the five (5) selected physical threats, choose a strategy for addressing the risk (i.e., risk mitigation, risk assignment, risk acceptance, or risk avoidance). Justify your chosen strategies.
- For each of the five (5) selected logical threats, choose a strategy for handling the risk (i.e., risk mitigation, risk assignment, risk acceptance, or risk avoidance). Justify your chosen strategies.
- Use at least five (5) quality resources in this assignment (no more than 2-3 years old) from material outside the textbook. Note: Wikipedia and similar Websites do not qualify as quality resources.
Your assignment must follow these formatting requirements:
- Be typed, double spaced, using Times New Roman font (size 12), with one-inch margins on all sides; citations and references must follow APA or school-specific format. Check with your professor for any additional instructions.
- Include a cover page containing the title of the assignment, the student’s name, the professor’s name, the course title, and the date. The cover page and the reference page are not included in the required assignment page length.
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Psy 300 – 3
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Directions: Provide detailed and elaborate responses to the questions below. Your responses should include examples from the reading assignments and discuss how the concepts are applied in modern psychology. Your responses to each question should be at least one half of one page in length and include a minimum of two references. 1. What is stress? In your response, include the description provided by the DSM, factors that predispose a person to stress, and characteristics of stressors. 2. What is the relationship between physical health and stress? How does optimism and negative affect impact the stress response? What can individuals do to mitigate the health risks associated with prolonged stress? 3. Discuss the fear and anxiety response patterns. Discuss the fight or flight response, anxiety, and unconditional versus learned sources of fear and anxiety. 4. Discuss Generalized Anxiety disorder, its psychological casual factors, the role of control and predictability, worry and cognition. How is it treated? PART II Review the Web resources in the lecture notes. Select at least three websites that you consider valuable. In a document that is at least one page in length, provide the following information. 1. Describe the site and its purpose. 2. How does it demonstrate credibility? 3. Explain how the information provided on the site may be beneficial to students and professionals. ****************ADDITIONAL INFO FOR PART II *********** Review the following Web resources and select at least three to incorporate into your annotated bibliography, which is part of your final project due in module 8. Please include a few sentences summarizing or describing the website and its purpose, discussing how the site demonstrates credibility, and discussing how the information may be beneficial to students and professionals. Click HERE for more information on creating an annotated bibliography. The National Center for PTSD sponsors THIS SITE, which serves as an educational resource concerning PTSD and other enduring consequences of traumatic stress. Please click HERE to read an article that uses the FAQ format to discuss how to become aware of stressors and how to recognize what you can change to reduce stress. HERE is an overview of acute stress disorder, which describes the symptoms of this disorder and provides diagnostic information. Please click HERE to view the National Institute of Mental Health brochure on anxiety disorders, which covers symptoms and treatment of the major anxiety disorders. It also lists organizations to contact for further information. The National Anxiety Foundation home page, found HERE, provides information and links about panic disorder and obsessive-compulsive disorder. Please click HERE to view the Mental Help Net site, which provides an enormous amount of basic information as well as many Web links for anxiety disorders.
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Analyze and explain what happened in terms of social heuristics on the mountain. Explain how decisions were made and the factors that shaped the decision-making environment. Ignoring the severe physiological impacts, identify the greatest challe http://w
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I need 1-2 pages.
Preferably by the end of today.
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Kudler fine foods
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Kudler fine foods – 250 words minimum
Analyze the reason for the type of organizational structure employed by the organization, and identify the key departments and positions that support that organizational structure.
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Assignment 4
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Based on the information provided below, compute the value of a bond and the value of common stock (LO 5).
1. Suppose you have a $1,000 face value bond with 12 years to maturity, a coupon rate of 6% and a yield to maturity of 8%. If the bond makes semiannual payments, what is it’s price today?
(Hint: www.accountingcoach.com/online-accounting-course/89Xpg07.html )
2. Compute the Value of Acme Common Stock if the next dividend is expected to be $1.20 per share. Investors require a 9% rate of return on stocks with the same risk as Acme. Based on the dividend growth model, what is Acme’s stock worth today?
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algebra with financial application
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$219.96
$66.91
$20.99
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Business 2
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Globalization and Sources of Equity Financing
Please respond to the following:
- From the e-Activity, discuss how the company you selected might benefit from selling new customers on e-Bay (as opposed to building and maintaining its own Website).
- Referring to the same company, determine the best source of equity capital available to the company you selected. Explain your rationale.
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homework 8 pages (research)
In today’s fast-paced academic environment, students often find themselves juggling multiple responsibilities, from attending classes and working part-time jobs to participating in extracurricular activities. The demands of modern education can be overwhelming, leaving students in search of effective solutions to manage their academic workload efficiently. One such solution is the use of Nursingpapertutors.com academic writing website. Nursingpapertutors.com academic writing website employ a cadre of experienced and knowledgeable writers who are well-versed in various academic subjects and writing styles. Nursingpapertutors.com professionals bring a wealth of expertise to the table, enabling them to produce well-researched and well-structured papers that meet the academic standards and expectations of students. Their familiarity with diverse subjects ensures that students can receive assistance across a wide spectrum of disciplines, from mathematics to literature, and from nursing to engineering.
I. Introduction/Theoretical Framework –
This will be several paragraphs long and must
• summarize the purpose of the study as well as the background (theoretical framework)
• summarize significance of the study.
• Why is this study important? In this section you will have your literature review.
• Your literature review should summarize what others have done on your topic.
• Analyze what your review of the literature showed you. This must be written in the past tense.
• As this is a qualitative study, you can cite the literature of previous studies in the findings and interpretations sections as well.
II. Methodology –
• State the type of study.
• Note how the study was conducted – type of sampling method utilized.
• Where the study was conducted?
III. Conclusions/Recommendations –
• Are the conclusions consistent with the findings?
• Are they logical?
• Is there a discussion of the limitations of the research design?
• Should something else have been looked at?
• Are the implications of the research discussed?
• Are there recommendations for further research?
i have listed everything in bullet points
15 credible sources
APA 6th edition Format
i need facts not opinions
6 of the 8 pages needs to be introduction/theatrical framework
last 2 pages needs to be last to bullets
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Determine the missing amounts. Aquarius: Additional issuance of capital stock $ Libra: Revenue $ Scorpio: Dividends $ Taurus Assets at beginning of year $
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