Caitlyn Sold Several Shares Of Stock On September 16, 2016. She Received A Form

Caitlyn sold several shares of stock on September 16, 2016. She received a Form 1099-B for each transaction. All of these were covered securities EXCEPT: 133 shares of Systems Corporation, purchased on December 12, 2012. 400 shares of Bravo Bank, purchased on March 4, 2013. 500 shares of Tully Enterprises that she inherited from her father on June 15, 2014; he initially purchased the stock in 2007. 1,000 shares of Ironstone stock, purchased on June 11, 2014 and which was subject to a 3/2 split on May 12, 2016.

Record The Adjusting Entries Into A Horizontal Grid: G) On July 1, Paid $24,000

Record the adjusting entries into a horizontal grid: g) On July 1, paid $24,000 to rent a building for the rest of 2018 and the first half of 2019 k) Wages of $8,400 earned by employees since the Dec 24 payroll were not yet paid. m) Accrued $2,800 interest on an outstanding loan (promissory note). n) Building rental expenses for the year, paid in transaction (g), had not yet been recorded. o) Depreciation for the year on the equipment was $6,200 p) Income tax for the year was $9,000. It will be paid in 2019.

April Date 1 Acquired $55000 To Establish The Company, $33,000 From An Initial Investment

April Date 1 Acquired $55000 to establish the company, $33,000 from an initial investment through the issue of common stock to themselves and $22,000 from a bank loan by signing a note. The entire note is due in five years and has a 7 per cent annual interest rate. Interest is payable in cash on March 31 of each year. 1 Paid $42000 (represents 3 months) in advance rent for a one-year lease on kitchen space. 1 Paid $35000 to purchase a refrigerator. The refrigerator is expected to have a useful life of five years and a salvage value of $5000 at the end of 5 years. 6 Purchased supplies for $500 for cash. 9 Received $700cash as an advance payment from a client to be served in May. 10 Recorded sales to customers. Cash receipts were $700, and invoices for sales on account were $1500. 15 Paid $1460 cash for employees semi-monthly salaries. 16 Collected $400 from accounts receivable. 23 Received monthly utility bills amounting to $340. The bills are to be paid in May. 25 Paid advertising expense for advertisements run during April, $260. 30 Recorded services to customers. Cash receipts were $1300 and invoices for services on account were $1800. 30 Paid $1460 cash for employees salaries. Additional information provided by the Supreme Caterers for the end of April 1 Counted the supplies inventory on hand, $55. Required: 1 Open general ledger accounts, using the T-accounts provided, and post the general journal entries to the ledger. 2 Record and post the appropriate adjusting entries. 3 Prepare a statement of retained earnings.

Single Plantwide Factory Overhead Rate Bach Instruments Inc. Makes Three Musical Instruments: Flutes, Clarinets,

Single plantwide factory overhead rate Bach Instruments Inc. makes three musical instruments: flutes, clarinets, and oboes. The budgeted factory overhead cost is $175,200. Overhead is allocated to the three products on the basis of direct labor hours. The products have the following budgeted production volume and direct labor hours per unit: Budgeted Production Volume Direct Labor Hours Per Unit Flutes 2,500 units 0.8 Clarinets 800 1.6 Oboes 1,100 1.0 If required, round all per unit answers to the nearest cent.

Question 1 Which Of The Following Objects Is An Economic Event A. Materials Inventory

Question 1 Which of the following objects is an economic event A. Materials inventory B. Cash C. Purchase of materials D. Purchasing agent E. Supplies Question 2 Which of the following documents is usually the poriton of the customer statement that says return this stub wtih payment A. Picking list B. Customer Invoice C. Bill of Lading D. Remittance Advice E. Receiving Report Question 3 What is the primary document prepared by the enterprise in conjunction with the economic increment event in the acquisition and payment process A. Vendor Invoice B. Receiving Report C. Purchase order D. Debit Memorandum E. Disbursement Voucher

10) ABC: Comparison To Traditional Costing Palms Surf Manufactures Surfboards. The Company Produces Two

10) ABC: Comparison to traditional costing Palms Surf manufactures surfboards. The company produces two models: the starter board and the pro board. Data regarding the two boards are as follows: Product Direct Labour hours per unit Annual Production Total direct labour hours Pro 2.5 10000 boards 25000 Starter 1.5 30000 boards 45000 The pro board requires $85 in direct materials per unit, whereas the started board requires $50. The company pays an average direct labour rate $14 per hour. The company has historically used direct labour hours as the activity base for applying overhead to the boards. Manufacturing overhead is estimated to be $1,664,000 per year. The pro board is more complex to manufacture than the starter board because it requires more machine time. Gabriel, the company’s controller, is considering the use of activity-based costing to apply overhead because the surfboards require such different amounts of machining Gabriel has identified the following four separate activity centres. Volume of annual activity Activity Centre Cost Driver Traceable costs Pro Board Starter board Machine set up Number of set-ups $100, 000 100 100 Special design Design hours $364,000 900 100 Production Direct labour hours $900,000 10000 30000 Machining Machine hours $300,000 9000 1000 a) Calculate the overhead rate based on traditional overhead allocation with direct labour hours as the base. b) Determine the total cost to produce one unit of each product (use the overhead rate calculated in question a.) c) Calculate the overhead rate for each activity centre based on activity- based costing techniques d) Determine the total cost to produce one unit of each product. Use the overhead rates calculated in question c) e) Explain why overhead cost shifted from the high- volume product to the low- volume product under the activity-based costing.

Sipho Is The Proprietor Of Sipho’s Café. On 28 February 20.9, The Business Had

Sipho is the proprietor of Sipho’s Café. On 28 February 20.9, the business had the following assets and liabilities: Equipment Trading inventory Bank overdraft Debtors control Creditors control Which of the following amounts reflects the equity at 28 February 20.9? A R127 000 B R113 000 C R67 000 D R107 000 Which one of the following statements about posting to the ledger is false? Decreases in asset accounts are recorded on the credit side. Increases in liability accounts are recorded on the credit side. Increases in Capital are recorded on the debit side. Increases in Income accounts are recorded on the credit side. Which of the following statements is false? When posting to the ledger: decreases to capital account are recorded on the debit side. decreases to asset accounts are recorded on the debit side. C increases to expense accounts are recorded on the debit side. D increases to income accounts are recorded on the credit side.

Keep-or-Drop Decision Petoskey Company Produces Three Products: Alanson, Boyne, And Conway. A Segmented Income

Keep-or-Drop Decision Petoskey Company produces three products: Alanson, Boyne, and Conway. A segmented income statement, with amounts given in thousands, follows: Alanson Boyne Conway Total Sales revenue $1,280 $185 $405 $1,870 Less: Variable expenses 1,115 45 304 1,464 Contribution margin $165 $140 $101 $406 Less direct fixed expenses: Depreciation 50 15 11 76 Salaries 95 85 112 292 Segment margin $20 $40 $(22) $38 Direct fixed expenses consist of depreciation and plant supervisory salaries. All depreciation on the equipment is dedicated to the product lines. None of the equipment can be sold. Assume that each of the three products has a different supervisor whose position would remain if the associated product were dropped. Required: CONCEPTUAL CONNECTION: Estimate the impact on profit that would result from dropping Conway. Enter amount in full, rather than in thousands. For example, “15000” rather than “15”. Decrease  $_______ Should Petoskey keep or drop Conway? Keep PLEASE EXPLAIN STEP BY STEP.

Donahue Company Is Preparing Budgets For The Third Quarter Ending Sept 30, 2017. Budgeted

NOTE: PLEASE DON’T ROUND OFF OR ELSE I WILL DOWN VOTE

Bates Corp. Disclosed The Following Lease Information In Its 2018 Annual Report Related To

Bates Corp. disclosed the following lease information in its 2018 annual report related to its leasing activities (in millions). Capital leases Operating leases 2019 $307 $2,471 2020 286 2,302 2021 262 1,202 2022 251 980 2023 116 830 After 2023 703 9,130 Total $1,925 $16,915 Amount representing interest (754) Present value of net minimum lease payments $1,171 Q. Over the life of the lease, what effect does this classification have on Net Income?

I Need Help In Solving This Problem As Well As Getting A Better Understanding

I need help in solving this problem as well as getting a better understanding of it, thank you.

I Need Help In Solving This Problem As Well As Getting A Better Understanding

I need help in solving this problem as well as getting a better understanding of it, thank you.

Suppose The Following Data Were Taken From The 2022 And 2021 Financial Statements Of

I need help understanding this question, thank in regards to whom answers my question!

Somerset Company Acquired A Piece Of Equipment With A List Price Of $200,000 For

Somerset Company acquired a piece of equipment with a list price of $200,000 for $152,000. Freight to Somerset’s location was $5,000. Installation and testing costs were $6,500. An old piece of equipment was scrapped as a result of this new purchase. The old piece of equipment had an undepreciated value (net book value) of $8,000. The new piece of equipment is expected to have a 10 year life and a salvage value of $15,000. What is the total value assigned to the new piece of equipment?

Bates Corp 2018 Annual Report Disclosed The Following Pension Information: Benefit Obligations And Fair

Bates Corp 2018 annual report disclosed the following pension information: Benefit obligations and fair values of plan assets as of December 31, 2018, for Bates’ pension and postretirement plans are as follows: In millions Benefit Obligation Fair Value of Plan Assets U.S. pension $13,683 $10,312 U.S. postretirement 280 – Non-U.S. pension 219 153 Non-U.S. postretirement 23 – What conclusions can you draw about the funded status of the company’s pension plans and post employment obligation? Is this a concern? Why or why not Explain.

Snowshoe, A Manufacturer Of Ski Equipment, Has Been Asked To Sell 1,000 Pairs Of

Snowshoe, a manufacturer of ski equipment, has been asked to sell 1,000 pairs of skis to a discount sporting goods shop in Maine for $100 a pair. Snowshoe would not put its name on this special order, and the dealer would therefore sell the skis below their normal retail price.  The capacity for Snowshoe is 25,000 pairs of skis per year.  The company’s sales forecast for this year, excluding the special order, is 20,000 pairs at a selling price of $143.75 per unit. Snowshoe’s budgeted income statement contains the following information.  Should they do the special order? (all per unit – 20,000 pairs sold) Sales revenue…$143.75 Direct materials…$37.50 Direct labor…$31.10 Factory overhead (40% is variable)…$34.45 Selling and administrative expenses…$27.50

Question 01 1.Nowadays Many Organisations Attempt To A Sustainable Business. Describe Two Key Aspects

Question 01 1.Nowadays many organisations attempt to a sustainable business. Describe two key aspects that should be part of these organisations’ processes and systems. Also discuss how an organisation can achieve being a sustainable business. 2.Many Australian organisations have adopted Activity-Based Working (ABW) in recent years. Consider three advantages and three disadvantages of ABW in your discussion of whether you believe ABW is appropriate for university lecturers. 3.Describe Environmental Management Accounting (EMA) including it purposes/objectives and benefits.                4.Describe the Global Reporting Initiative.    5.Describe Sustainability (from a business and accounting perspective) and Environmental, Social and Governance (ESG) and state the difference(s) between these two concepts.

ASSIGNMENT 2 DUE DATE; 07 OCTOBER 2019 Masangomavi Tours (MT) You Have Been

ASSIGNMENT 2 DUE DATE; 07 OCTOBER 2019 Masangomavi Tours (MT) You have been appointed as the Chief Internal Auditor of Masangomavi Tours (MT) and are about to audit MT’s trade receivables balance for 2018. MT is a company in Zimbabwe that offers tourism services for tourists who want to visit tourist resort areas in the SADCC region. The company has lodges and vehicles in 10 different centres in the region that they hire out to various clients. MT aims to provide its customers with a reliable and competitively priced tourism services, both nationally and internationally. At any-one time MT has approximately 100 large trade receivables balances. Each of these balances can fluctuate between $30 000 to $112 000. At year end, the average large balance is $65 000. The remaining accounts have on average a balance of $2 900. The trade receivables balances have different due dates for payments and credit limits. The trade receivables are maintained alphabetically in a master file of trade receivables. Tourism Service document data is keyed into a computerised system that simultaneously produces a tourism services invoice, income journal and an updated trade receivables master file. Customers submit cheques and remittance advices to clear their debt. On opening the post, a member of the accounts staff records the list of cheques. Computer services staff carry-out a comparison of the remittance advices with this listing. After computer services staff enters the cash receipts information, a cash receipts journal and an updated trade receivables master file are simultaneously prepared. Summary totals are produced on a monthly basis by the computer services department for updating the general ledger master file accounts i.e. cash, income and trade receivables. Although previous audits of trade receivables have tended to adopt an ‘audit around the computer’ approach, you have decided to use audit software to assist with the audit of the trade receivables balance. Required: (a) List EIGHT specific risks posed by information technology to an entity’s internal control. (8) (b) Explain the concept of ‘auditing around the computer’ and discuss why this increases audit risk for the auditor.   ​​​ (5) (c) Explain the SIX audit procedures that could be carried out using audit software on the trade receivables balance at MT. For each procedure, explain the reason for that procedure. (12)    Required: Briefly explain each of the procedures listed above.      [Total 25 marks]

Tax Assignment Due Date: 08 October 2019 Rentan Bester Created A Living Trust.

Tax Assignment Due date: 08 October 2019 Rentan Bester created a living trust. Mr Bester also donated certain assets to the trust that generate its income. Three trustees have been appointed who have the discretion to distribute the income of the trust as they see fit. An extract of the trust deed is shown below: TRANSFER OF PROPERTY The Settlor, Rentan Bester , hereby conveys transfers and assigns the Property to the Trustee to be held on trust on such terms as are set out in this Trust Deed. The Trustee hereby acknowledges receipt of the Property and consents to the terms of the Trust Deed and admits and acknowledges that they are holding the Property in trust on the terms as set out in this Trust Deed. The Trustees are also expressly authorised to receive further property in the future from the Settlor or from any other person and to add this new property to the Trust Fund. The Trustees may make distributions to Beneficiaries who are minors in the following ways: either a) payment to those minors directly, or, b) payment to their parents or guardians. The Trustees shall have absolute discretion over which manner to choose and either manner shall be a valid discharge of their powers DISTRIBUTION TO JACKY BESTER DISTRIBUTIONS TO MINORS Distributions to Beneficiary, Jacky Bester, shall be subject to her receiving her law degree at the University of Cape Town Schedule A The Trust property (subject of the Trust) shall be the following:  Leased Property  Share investments, 50 000 shares in BidProp Schedule B The Trust Beneficiaries (objects of the Trust) shall be the following: Beneficiary Percentage 1. Vicky Bester (Mr Rentan’s), 60% 2. Jacky Bester (24 years of age) and 30% 3. Piet Bester (8 years of age). 10% You have been given the income and expenses of the trust during the year of assessment ended 28 February 2019: N$ Income Rental income of leased property 200 000 Dividends 60 000 Expenses Bank Charges 5 000 Interest on mortgage over properties 25 000 Maintenance expenditure on leased out property 15 000 Other expenditure in production of income 7 500 207 500 Assume that Jacky has not yet finished his degree for the year of assessment ending 28 February 2019. The trust only distributed 60% of the dividend income and 70% of the rental income to the beneficiaries during the year. YOU ARE REQUIRED TO: Calculate the taxable income of Vicky, Jacky, Piet and the Trust. (20 marks)

A-to-Z Industries Has Two Production Departments, ABC And XYZ Which Uses A Job-order Cost

A-to-Z Industries has two production departments, ABC and XYZ which uses a job-order cost system. To determine manufacturing costs, the company applies manufacturing overhead to production orders based on direct labor cost using the blanket rate predetermined at the beginning of the year based on the annual budget. The 20xx budget for the two departments was as follows: ABC XYZ Direct Materials 630,000 90,000 Direct labor 180,000 720,000 Factory Overhead 540,000 360,000 Actual materials and labor costs of JOB 678 during 20xx were as follows: Direct materials 22,500 Direct labor – ABC 7,200 Direct labor – XYZ10,800 What was the total manufacturing cost associated with Job No.678 for 20xx? Select one: a. 58,500 b. 45,000 c. 49,500 d. 67,500

The Following Is The Ending Balances Of Accounts At December 31, 2021, For The

The following is the ending balances of accounts at December 31, 2021, for the Vosburgh Electronics Corporation. Account Title Debits Credits Cash 91,000 Short-term investments 206,000 Accounts receivable 147,000 Long-term investments 47,000 Inventory 227,000 Receivables from employees 52,000 Prepaid expenses (for 2022) 28,000 Land 292,000 Building 1,670,000 Equipment 649,000 Patent (net) 164,000 Franchise (net) 52,000 Notes receivable 310,000 Interest receivable 24,000 Accumulated depreciation—building 632,000 Accumulated depreciation—equipment 222,000 Accounts payable 201,000 Dividends payable (payable on 1/16/2022) 22,000 Interest payable 28,000 Income Taxes payable 52,000 Deferred revenue 72,000 Notes payable 324,000 Allowance for uncollectible accounts 20,000 Common stock 2,048,000 Retained earnings 338,000 Totals 3,959,000 3,959,000 Additional information: The common stock represents 1.1 million shares of no par stock authorized, 620,000 shares issued and outstanding. The receivables from employees are due on June 30, 2022. The notes receivable are due in installments of $62,000, payable on each September 30. Interest is payable annually. Short-term investments consist of securities that the company plans to sell in 2022 and $62,000 in treasury bills purchased on December 15 of the current year that mature on February 15, 2022. Long-term investments consist of securities that the company does not plan to sell in the next year. Deferred revenue represents payments from customer for extended service contracts. Eighty percent of these contracts expire in 2022, the remainder in 2023. Notes payable consists of two notes, one for $112,000 due on January 15, 2023, and another for $212,000 due on June 30, 2024. Required: Prepare a classified balance sheet for Vosburgh at December 31, 2021. (Amounts to be deducted should be indicated by a minus sign.)

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