From Ledger Entries to Balance Sheets: Accounting Assignment Tips
42. 8.60 Why can you never really have 100% confidence of correctly estimating the population...
8.60 Why can you never really have 100% confidence of correctly estimating the population characteristic of interest? 8.61 When are you able to use the t distribution to develop the confidence interval estimate for the mean? 8.62 Why is it true that for a given sample size, n, an increase in confidence is achieved by widening (and making less precise) the confidence interval? 8.63 Under what circumstances do you use a one-sided confidence interval instead of a two-sided confidence interval? 8.64 When would you want to estimate the population total instead of the population mean? 8.65 How does difference estimation differ from estimation of the mean?
43. Ram, Rahim and Robert are partners, sharing profits and losses in the ratio of 5 : 3 : 2. It was...
Ram, Rahim and Robert are partners, sharing profits and losses in the ratio of 5 : 3 : 2. It was decided that Robert would retire on 31.3.2015 and in his place Richard would be admitted as a partner with new profit sharing ratio between Ram, Rahim and Richard at 3 : 2 : 1.
Balance Sheet of Ram, Rahim and Robert as at 31.3.2015
Liabilities | ~ | Assets | ~ |
Capital Accounts : |
| Cash in Hand | 20,000 |
Ram | 1,00,000 | Cash at Bank | 1,00,000 |
Rahim | 1,50,000 | Sundry Debtors | 5,00,000 |
Robert | 2,00,000 | Stock in Trade | 2,00,000 |
General Reserve | 2,00,000 | Plant and Machinery | 3,00,000 |
Sundry Creditors | 8,00,000 | Land and Building | 5,30,000 |
Loan from Richard | 2,00,000 |
|
|
| 16,50,000 |
| 16,50,000 |
Retirement of Robert and admission of Richard is on the following terms :
(a) Plant and Machinery to be depreciated by ~ 30,000.
(b) Land and Building to be valued at ~ 6,00,000.
(c) Stock to be valued at 95% of book value.
(d) Provision for doubtful debts @ 10% to be provided on debtors.
(e) General Reserve to be apportioned amongst Ram, Rahim and Robert.
(f) The firm’s goodwill to be valued at 2 years purchase of the average profits of the last 3 years. The relevant figures are :
Year ended 31.3.2012- Profit ~ 50,000;
Year ended 31.3.2013- Profit ~ 60,000;
Year ended 31.3.2014- Profit ~ 55,000.
(g) Out of the amount due to Robert ~ 2,00,000 would be retained as loan by the firm and the balance will be settled immediately.
(h) Richard’s capital should be equal to 50% of the combined capital of Ram and Rahim. Prepare : (i) Capital Accounts of the Partners; and (ii) Balance Sheet of the reconstituted firm.
44. From the following account balances for Exemplar Company on December 31, 2010...
From the following account balances for Exemplar Company on December 31, 2010, prepare a statement of financial position with proper classifications.
Account receivable 400,000
Advances to officers-not currently collectible 100,000
Sinking fund 400,000
Building 5,000,000
Long term refundable deposit 50,000
Cash and cash equivalents 500,000
Cash surrender value 60,000
Equipment 1,000,000
Lease rights 100,000
Accrued interest on notes receivable 10,000
Inventories 1,300,000
Land 1,500,000
Land held for speculation 500,000
Notes receivable 250,000
Computer Software 3,250,000
Prepaid Expenses 70,000
Trading securities 280,000
Unearned rent income 280,000
Retained earnings-deficit (1,800,000)
Share premium-preference 500,000
Premium on bonds payable 1,000,000
Preference share capital 2,000,000
Notes payable 300,000
SSS payable 10,000
Accounts payable 400,000
Accrued Salaries 100,000
Accumulated depreciation-building 200,000,000
Accumulated depreciation-equipment 200,000
Allowance for doubtful accounts 20,000
Bonds payable 5,000,000
Dividends Payable 120,000
Withholding tax payable 30,000
Preference share redemption fund 350,000
Total current assets=
Total non current assets (fixed)=
TOTAL ASSETS=
Total current liabilities=
Total non current liabilities+
TOTAL LIABILITIES=
TOTAL EQUITY=
TOTAL(equity and liability)
with proper classification and order of each account titles.
Notes to financial statements are included..
pls.help
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From the following account balances for Exemplar Company on December 31, 2010, prepare a statement of financial position with proper classifications. Account receivable 400,000 Advances to officers-not currently collectible 100,000 Sinking fund 400,000 Building 5,000,000 Long term refundable deposit 50,000 Cash and cash equivalents 500,000 Cash surrender value 60,000 Equipment 1,000,000 Lease rights 100,000 Accrued interest on notes receivable 10,000 Inventories 1,300,000 Land 1,500,000 Land held for speculation 500,000 Notes receivable 250,000 Computer Software 3,250,000 Prepaid Expenses 70,000 Trading securities 280,000 Unearned rent income 280,000 Retained earnings-deficit (1,800,000) Share premium-preference 500,000 Premium on bonds payable 1,000,000 Preference share capital 2,000,000 Notes payable 300,000 SSS payable 10,000 Accounts payable 400,000 Accrued Salaries 100,000 Accumulated depreciation-building 200,000,000 Accumulated depreciation-equipment 200,000 Allowance for doubtful accounts 20,000 Bonds payable 5,000,000 Dividends Payable 120,000 Withholding tax payable 30,000 Preference share redemption fund 350,000 Total current assets= Total non current assets (fixed)= TOTAL ASSETS= Total current liabilities= Total non current liabilities+ TOTAL LIABILITIES= TOTAL EQUITY= TOTAL(equity and liability) with proper classification and order of each account titles. Notes to financial statements are included.. pls.help
45. 1. What kind of market structure is involved for the sale of medicines and vitamins? 2. What can...
1. What kind of market structure is involved for the sale of medicines and vitamins?
2. What can be said about barriers to entry in this market?
3. Might there be a change in market structure after the change in the law?
4. Explain the disadvantages of the abolition of resale price maintenance (RPM) for this market.
5. When RPM was abolished for book sales in 1995, the same concerns as those expressed in the above case were voiced. Since then, 10 per cent of bookshops have gone out of business. What conclusions might this help you to draw regarding the future of small pharmacies?
6. How does the rise of the Internet affect this situation?
46. 1.9 One of the variables most often included in surveys is income. Sometimes the question is phrased
1.9 One of the variables most often included in surveys is income. Sometimes the question is phrased “What is your income (in thousands of dollars)?” In other surveys, the respondent is asked to “Select the circle corresponding to your income level” and is given a number of income ranges to choose from. a. In the first format, explain why income might be considered either discrete or continuous. b. Which of these two formats would you prefer to use if you were conducting a survey? Why?
47. Exercise 5-5 Changes in Variable Costs, Fixed Costs, Selling Price, and Volume [LO5-4] [The f...
Exercise 5-5 Changes in Variable Costs, Fixed Costs, Selling Price, and Volume [LO5-4]
[The following information applies to the questions displayed below.] |
Data for Hermann Corporation are shown below: |
Per Unit | Percent | |||
Selling price | $ | 90 | 100% | |
Variable expenses | 63 | 70% | ||
Contribution margin | $ | 27 | 30% | |
Fixed expenses are $30,000 per month and the company is selling 2,000 units per month. |
References
Section BreakExercise 5-5 Changes in Variable Costs, Fixed Costs, Selling Price, and Volume [LO5-4]
2.
Exercise 5-5 Part 1
Required: | |
1-a. | The marketing manager argues that a $5,000 increase in the monthly advertising budget would increase monthly sales by $9,000. Calculate the increase or decrease in net operating income. |
1-b. | Should the advertising budget be increased ? | ||||
|
3.
value:
5.00 points
Required information
Exercise 5-5 Part 2
2-a. | Refer to the original data. Management is considering using higher-quality components that would increase the variable expense by $2 per unit. The marketing manager believes that the higher-quality product would increase sales by 10% per month. Calculate the change in total contribution margin. |
2-b. | Should the higher-quality components be used? | ||||
|
48. A company purchased property for $100,000. The property included a building, a parking lot, and...
A company purchased property for $100,000. The property included a building, a parking lot, and land. The building was appraised at $62,000; the land at $35,000, and the parking lot at $18,000. Land should be recorded in the accounting records with an allocated cost of: $0. $30,435. $35,000. $46,087. $100,000.
49. calculate the cost of inventory reported on the balance sheet.
For each of the following, calculate the cost of inventory reported on the balance sheet.
a. The total merchandise on hand at the end of the year as determined by taking a physical inventory is $62,000. Of the $62,000, $8,000 has been sold FOB destination and is awaiting pickup by the carrier.
b. The total merchandise inventory counted at the end of the year was $63,000. Purchases for $6,000 are in transit under FOB shipping point terms.
c. The total merchandise inventory counted at the end of the year was $75,000. Purchases for $5,000 are in transit under FOB destination terms.
50. Supply Chain
how can a minor change in demand at the retail level can significantly impact supply chain variation for wholesale distributors, manufacturers/assemblers, and raw materiel/piece part suppliers