Question 1
Will you answer the following questions form me, or as many as you think my offer is worth? These questions are similar to the excercise questions in the chapter 7-2: 7-4 Excercise 7-2 1. Checking account balance $927,920; certificate of deposit $1,417,300; cash advance to subsidiary of $989,520; utility deposit paid to gas company $190. Cash balance $ 2. Checking account balance $504,560; an overdraft in special checking account at same bank as normal checking account of $19,600; cash held in a bond sinking fund $245,680; petty cash fund $351; coins and currency on hand $1,550. Cash balance $ 3. Checking account balance $625,280; postdated check from a customer $14,400; cash restricted due to maintaining compensating balance requirement of $105,160; certified check from customer $9,110; postage stamps on hand $632. Cash balance $ 4. Checking account balance at bank $47,010; money market balance at mutual fund (has checking privileges) $49,510; NSF check received from customer $850. Cash balance $ 5. Checking account balance $713,380; cash restricted for future plant expansion $507,440; short-term Treasury bills $198,700; cash advance received from customer $921 (not included in checking account balance); cash advance of $7,630 to company executive, payable on demand; refundable deposit of $29,200 paid to federal government to guarantee performance on construction contract. Cash balance $ Problem 7-3 Manilow Corporation operates in an industry that has a high rate of bad debts. Before any year-end adjustments, the balance in Manilow's Accounts Receivable account was $601,600 and the Allowance for Doubtful Accounts had a credit balance of $41,200. The year-end balance reported in the balance sheet for Allowance for Doubtful Accounts will be based on the aging schedule shown below. Days Account Outstanding Amount Probability of Collection Less than 16 days $317,500 0.98 Between 16 and 30 days 114,700 0.92 Between 31 and 45 days 83,200 0.86 Between 46 and 60 days 42,900 0.80 Between 61 and 75 days 26,400 0.55 Over 75 days 16,900 00 (a) What is the appropriate balance for Allowance for Doubtful Accounts at year-end? Balance for Allowance for Doubtful Accounts $ Exercise 7-4 Your accounts receivable clerk, Mary Herman, to whom you pay a salary of $3,120 per month, has just purchased a new Audi. You decided to test the accuracy of the accounts receivable balance of $243,360 as shown in the ledger. The following information is available for your first year in business. (1) Collections from customers $411,840 (2) Merchandise purchased 665,600 (3) Ending merchandise inventory 145,600 (4) Goods are marked to sell at 40% above cost Compute an estimate of the ending balance of accounts receivable from customers that should appear in the ledger and any apparent shortages. Assume that all sales are made on account. The ending balance of accounts receivable from customers $ Apparent shortage $
Question 2
As per attached Contract questions I. the reference book is Principles of Contracting for Project Management by: -Yanping Chen and J.Davidson Frame and; -Project Finanace Tools and Techniques by J.Davidson Frame The class is MGT 254- University of Managmenet and Technology,how many days you can spend to answer the questions with top quality?,ok. please proceed.,kindly note that the answer for question no. 1 is incomplte. the answer should include an estimate of what you think it will cost to carry out the work described in the SOW for the office relocation project. In your estimate, you should include estimates of labor time and equipment rental (e.g., renting moving vans). appreciate providing the answer at the earliest.,attached is question no.7 which could not be tackled becase of missing the 2 sentences in the question.,Kindly note that I am not submmiting new question. Question no. 7 was there in the assignment. However it was not answer by you!!!! as the last sentence was missing. Hence, I resend you the missing part of the question.,Kindly note that I am not submmiting new question. Question no. 7 was there in the assignment. However it was not answer by you!!!! as the last sentence was missing. Hence, I resend you the missing part of the question.,the missing part is in red color.,kindly note that answer to question no.3 is incomplete. Please ensere that the answer is inculded all the requiremnets mentioned in the question. the bid shuould include the following: 1. Point of contact at the vendor facility. Include name, telephone number, fax number, address, and e-mail address. 2. Names of three clients who currently are supplied with popcorn kernels by the bidder. Phone numbers of these people should also be supplied. 3. Summary of corporate capabilities, including a brief history of experience in supplying clients with popcorn kernels. 4. Price per pound of popcorn kernels delivered to Great Plains?s Desmoines warehouse. 5. A brief statement of back-up plans in the event that the vendor is unable to supply the required quantities of popcorn. Bids should be submitted by XX/YY/200z.,answer to question no.4 should be as per the forllowing: Answer to question 1: Answer to Question 2: Please resubmit the answer accordingly.
Question 3
8.1 Consider the following 2011 data for Newark General Hospital (in millions of dollars): Static Flexible Actual Budget Budget Results Revenues $4.7 $4.8 $4.5 Costs 4.1 4.1 4.2 Profits 0.6 0.7 0.3 a. Calculate and interpret the profit variance. b. Calculate and interpret the revenue variance. c. Calculate and interpret the cost variance. d. Calculate and interpret the volume and price variances on the revenue side. e. Calculate and interpret the volume and management variances on the cost side. f. How are the variances calculated above related? 8.2 Here are the 2011 revenues for the Wendover Group Practice Association for four different budgets (in thousands of dollars): Flexible Flexible Static Enrollment/Utilization) (Enrollment) Actual Budget Budget Budget Results $425 $200 $180 $300 a. What does the budget data tell you about the nature of Wendover's patients: Are they capitated or fee-for-service? (Hint: See the note to Exhibit 8.7.) b. Calculate and interpret the following variances: ? Revenue variance ? Volume variance ? Price variance ? Enrollment variance 8.4 Refer to Carroll Clinic's 2011 operating budget contained in Exhibit 8.3, Instead of the actual results reported in Exhibit 8.4, assume the results reported below: Carroll Clinic: New 2011 Results /. Volume: A. FFS 34,000 visits B. Capitated lives 30,000 members Number of member-months 360,000 Actual utilization per member-month 0.12 Number of visits 43,200 visits C. Total actual visits 77,200 visits II. Revenues: A.FFS $28 per visit X 34,000 actual visits $ 952,000 B. Capitated lives $ 2.75 PMPM X 360,000 actual member-months $ 990,000 C.Total actual revenues $1,942,000 III. Costs: A. Variable Costs: Labor $1,242,000 (46,000 hours at $27/hour) Supplies 126,000 (90,000 units at $1.40/unit) Total variable costs $ 17.72 ($1,368,000 / 77,200) B. Fixed Costs Overhead, plant, and equipment $525,000 C. Total actual costs $1,893,000 IV. Profit & Loss Statement: Revenues: FFS $952,000 Capitated $990,000 Total $1,942,000 Costs: Variable: FFS $602,487 Capitated 765,513 Total $1,368,000 Contribution Margin $574,000 Fixed Costs 525,000 Actual profit $49,000 a. Construct Carroll?s flexible budget for 2011. b. What are the profit variance, revenue variance, and cost variance? c. Consider the revenue variance. What is the component volume variance? The price variance? d. Break down the cost variance into volume and management components. e. Break down the management variance into labor, supplies, and fixed cost variances. f. Interpret your results. In particular, focus on the differences between the variance analysis here and the Carroll Clinic illustration presented in the chapter.
Question 4
C:9-27 Formation of a Partnership. On January 1, Julie, Kay, and Susan form a partnership. The contributions of the three individuals are listed below. Julie received a 30% partnership interest, Kay received a 60% partnership interest, and Susan received a 10% partnership interest. They share the economic risk of loss from recourse liabilities according to their partnership interests. Individual Asset Basis to Partner FMV Julie Accounts receivable $ ?0? $ 60,000 Kay Land 30,000 58,000 Building 45,000 116,000 Susan Services ? 20,000 Kay has claimed $15,000 of straight-line MACRS depreciation on the building. The land and building are subject to a $54,000 mortgage, of which $18,000 is allocable to the land and $36,000 is allocable to the building. The partnership assumes the mortgage. Susan is an attorney, and the services she contributes are the drawing-up of all partnership agreements. a. What amount and character of gain, loss, or income must each partner recognize on the formation of the partnership? b. What is each partner?s basis in her partnership interest? c. What is the partnership?s basis in each of its assets? d. What is the partnership?s initial book value of each asset? e. To raise some immediate cash after the formation, the partnership decides to sell the land and building to a third party and lease it back. The buyer pays $40,000 cash for the land and $80,000 cash for the building in addition to assuming the $54,000 mortgage. Assume the partnership claim no additional depreciation on the building before the sale. What is each partner?s distributive share of the gains, and what is the character of the gains?,yes, that will be fine thank you.
Question 5
Question # 4 P Corporation use the calendar year as its tax year and the accrual method as its overall accounting method. S corporation uses a fiscal year ending June 30 as its tax year and the cash method as its overall accounting method. On July 31, 2012, P acquired all of S?s stock, and P-S affiliated group elects to file a consolidated tax return for 2012. a- What tax year must the group use in filing its consolidated tax return? b- What overall accounting method can P and S corporations use? c- What tax returns must the corporations file? Question # 6 On January of the current year, Becky (20%), Chuck (30%), and Dawn (50%) are partners in the BCD Partnership. During the current year, BCD reports the following results. All items occur evenly throughout the year unless otherwise indicated. Assume the current year is not a leap year. Ordinary income $120,000 Long-term capital gain (recognized September 1) 18,000 Short-term capital loss (recognized March 2) 6,000 Charitable contribution (made October 1) 20,000 a- What are the distributive shares for each partner, assuming they all continue to hold their interest at the end of the year? b- Assume the Becky purchases a 5% partnership interest from Chuck on July 1 so that Beck and Chuck each own 25% from that date through the end of the year. What are Becky and Chuck?s distributive shares for the current year?,Thank you!,I was just wondering if these two question would be completed by 2:00pm?
