Question 1
At the financial statement date of December 31, 2004, the liabilities outstanding of Nyland Corporation included the following: 1. Cash dividends on common stock, $50,000, payable on January 15, 2005. 2. Note payable to Girard State Bank, $470,000, due January 20, 2005. 3. Serial bonds, $1,000,000, of which $200,000 mature during 2005. 4. Note payable to Third National Bank, $400,000, due January 27, 2005. The following transactions occurred early in 2005: January 15: The cash dividends on common stock were paid. January 20: The note payable to Girard State Bank was paid. January 25: The corporation entered into a financing agreement with Girard State Bank, enabling it to borrow up to $500,000 at any time through the end of 2007. Amounts borrowed under the agreement would bear interest at 1% above the bank's prime rate and would mature 3 years from the date of the loan. The corporation immediately borrowed $400,000 to replace the cash used in paying its January 20 note to the bank. January 26: 40,000 shares of common stock were issued for $400,000. $350,000 of the proceeds was used to liquidate the note payable to Third National Bank. February 1: The financial statements for 2004 were issued. Instructions Prepare a partial balance sheet for Nyland Corporation, showing the manner in which the above liabilities should be presented at December 31, 2004. The liabilities should be properly classified between current and long-term, and appropriate note disclosure should be included.
Question 2
DJ Co. is a calendar-year firm with 120 million common shares outstanding throughout 2011. As part of its executive compensation plan, at January 1, 2010, the company had issued 12 million executive stock options permitting executives to buy 12 million shares of stock for $10 each within the next eight years, but not prior to January 1, 2013. The fair value of the options was estimated on the grant date to be $3 per option. The stock options qualify for tax purposes as an incentive plan. The company's net income was $480 million in 2011. Its income tax rate is 40%. The average market price of the stock during 2011 was $12 per share. Required: Determine (1) basic and (2) diluted earnings per share (rounded to two decimal places) for DJ in 2011. (amounts in millions, except per share amount) Question 8 (10 Points) L Company discovered that a three-year insurance premium payment of $240,000 one year ago was debited to insurance expense. Required: 1. What action is required? Ignore taxes. Describe in word, no journal entry is needed. 2. What action is required if the error is not discovered until 4 years after it occurred? Describe in word, no journal entry is needed.
Question 3
Sorry for the misunderstanding. Are you going to answer my Homework Problem. I really need a solution for this immediately I have to turn it in today. COMPREHENSIVE PROBLEM 1, PERIOD 2: THE ACCOUNTING CYCLE Bob Night?s fishing camp, ?The General?s Favorite Fishing Hole,? is in the second month of operation. The camp is open from April through September, which allows for many college basketball coaches to attend during their off-season. The camp?s attendees arrive on Sunday afternoon and return home the following Saturday afternoon. Each attendee pays a registration fee that includes room and board, the use of fishing boats, and professional instruction in fishing techniques. Based on suggestions from clients, Night plans to expand the facilities and provide additional services. The post-closing trial balance as of April 30, and chart of accounts are provided below. The General?s Favorite Fishing Hole Post-Closing Trial Balance April 30, 20? Account Acct. No. Debit Balance Credit Balance Cash 101 130,650 Office Supplies 142 100 Food Supplies 144 8,000 Prepaid Insurance 145 7,500 Fishing Boats 181 60,000 Accumulated Depreciation--Fishing Boats 181.1 1,000 Accounts Payable 202 66,500 Wages Payable 219 500 Bob Night, Capital 311 138,250 206,250 206,250 During the month of May 2010, The General?s Favorite Fishing Hole engaged in the following transactions. These transactions required an expansion of the chart of accounts as shown below. Assets Revenues 101 Cash 401 Registration Fees 122 Accounts Receivable 404 Vending Revenue 142 Office Supplies 144 Food Supplies Expenses 145 Prepaid Insurance 511 Wages Expense 146 Prepaid Subscriptions 512 Advertising Expense 161 Land 521 Rent Expense 171 Building 523 Office Supplies Expense 171.1 Accum. Depr.--Buildings 524 Food Supplies Expense 181 Fishing Boats 525 Telephone Expense 181.1 Accum. Depr.--Fishing Boats 533 Utilities Expense 182 Surround Sound System 535 Insurance Expense 182.1 Accum. Depr.--Surround Sound Sys. 536 Postage Expense 183 Big Screen TV 537 Repair Expense 183.1 Accum. Depr.--Big Screen TV 540 Depr. Exp.--Buildings 541 Depr. Exp.--Surround Sound Sys. Liabilities 542 Depr. Exp.--Fishing Boats 202 Accounts Payable 543 Depr. Exp.--Big Screen TV 219 Wages Payable 546 Satellite Programming. Exp. 548 Subscriptions Expense Owner's Equity 311 Bob Night, Capital 312 Bob Night, Drawing 313 Income Summary The following transactions took place during May 20-- May 1 In order to provide snacks for guests on a 24 hour basis, Night signed a contract with Snack Attack. Snack Attack will install vending machines with food and drinks and pay a 10% commission on all sales. Estimated payments are made at the beginning of each month. Night received a check for $200, the estimated commission on sales for May. 2 Night purchased a surround sound system and big screen TV with a Digital Satellite System for the guest lounge. The surround sound system cost $3,600 and has an estimated useful life of 5 years, and no salvage value. The TV cost $8,000 and has an estimated useful life of 8 years, and a salvage value of $800. Night paid cash for both items. 2 Paid for May?s programming on the new Digital Satellite System, $125. 3 Night's office manager returned $100 worth of office supplies to Gordon Office Supply. Night received a $100 reduction in our account with Gordon. 3 Deposited registration fees, $52,700 3 Paid rent for lodge and campgrounds for the month of May, $40,000. 3 In preparation for the purchase of a nearby campground, Night invested an additional $600,000. 4 Paid Gordon Office Supply on account, $400. 4 Purchased the assets of a competing business and paid cash for the following: land $100,000, lodge $530,000 and fishing boats $9,000. The lodge has a remaining useful life of 50 years and a $50,000 salvage value. The boats have remaining lives of 5 years and zero salvage value. 5 Paid May's insurance premium for the new camp, $1,000 5 Purchased food supplies from Acme Super Market on account, $22,950. 5 Purchased office supplies from Gordon Office Supplies on account, $1,200. 7 Night paid $40 each for one-year subscriptions to Fishing Illustrated, Fishing Unlimited, and Fish Master. 10 Deposited registration fees, $62,750 13 Paid wages to fishing guides, $30,000. 14 A guest because ill and was unable to stay for the entire week. A refund was issued in the amount of $1,000. 17 Deposited registration fees, $63,000. 19 Purchased food supplies from Acme Super Market on account, $18,400. 21 Deposited registration fees, $63,400 23 Paid $2,500 for advertising spots on National Sports Talk Radio 25 Paid repair fee for damaged boat, $ 850. 27 Paid wages to fishing guides, $30,000. 28 Paid $1,800 for advertising spots on billboards in the mid-west. 29 Purchased food supplies from Acme Super Market on account, $14,325. 30 Paid utilities bill, $3,300 30 Paid telephone bill, $1,800. 30 Paid Acme Super Market on account, $47,350. 31 Bob Night withdrew cash for personal use, $7,500. Adjustment information at the end of May is provided below. a. Total vending machine sales were $2,300 for the month of May. b. Straight-line depreciation is used for the 10 boats purchased on April 2nd for $60,000. The useful life for these assets is 5 years and there is no salvage value. A full month's depreciation was taken in April on these boats. c. Straight line depreciation is used for the 2 boats purchased in May. d. Straight line depreciation is used to depreciate the surround sound system. e. Straight line depreciation is used to depreciate the big screen TV. f. Straight line depreciation is used for the building purchased in May. g. On April 2nd Night paid $9,000 for insurance during the six-month camping season. May's portion of this premium was used up during this month. h. Night received his May issues of Fishing Illustrated, Fishing Unlimited, and Fish Master. i. Office supplies remaining on hand, $150. j. Food supplies remaining on hand, $5,925. k. Wages earned, but not yet paid, at the end of May, $6,000. REQUIRED 1. Enter the above transactions in a general journal. Enter transactions from May 1-4 on page 5, May 5-28 on page 6, and the remaining entries on page 7. 2. Post the entries to the general ledger. (If you are not using the working papers that accompany this text, you will need to enter the account titles and account numbers in the general ledger accounts.) 3. Prepare a trial balance on a work sheet. 4. Complete the work sheet. 5. Prepare the income statement. 6. Prepare the statement of owner?s equity 7. Prepare the balance sheet. 8. Journalize the adjusting entries on page 8 of the general journal. 9. Post the adjusting entries to the general ledger. 10. Journalize the closing entries on page 9 of the general journal. 11. Post the closing entries to the general ledger. 12. Prepare a post-closing trial balance.,what is this? This isn't the whole problem
Question 4
Product mix, special order. (N. Melumad, adapted) Pendleton Engineering makes cutting tools for metalworking operations. It makes two types of tools: R3, a regular cutting tool, and HP6, a high-precision cutting tool. R3 is manufactured on a regular machine, but HP6 must be manufactured on both the regular machine and a high-precision machine. The following information is available. R3 HP6 Selling price $ 100 $ 150 Variable manufacturing cost per unit $ 60 $ 100 Variable marketing cost per unit $ 15 $ 35 Budgeted total fixed overhead costs $350,000 $550,000 Hours required to produce one unit on the regular machine 1.0 0.5 Additional information includes: a. Pendleton faces a capacity constraint on the regular machine of 50,000 hours per year. b. The capacity of the high-precision machine is not a constraint. c. Of the $550,000 budgeted fixed overhead costs of HP6, $300,000 are lease payments for the high-precision machine. This cost is charged entirely to HP6 because Pendleton uses the machine exclusively to produce HP6. The lease agreement for the high-precision machine can be canceled at any time without penalties. d. All other overhead costs are fixed and cannot be changed. 1. What product mix?that is, how many units of R3 and HP6?will maximize Pendleton?s operating income? Show your calculations. 2. Suppose Pendleton can increase the annual capacity of its regular machines by 15,000 machine-hours at a cost of $150,000. Should Pendleton increase the capacity of the regular machines by 15,000 machinehours? By how much will Pendleton?s operating income increase? Show your calculations. 3. Suppose that the capacity of the regular machines has been increased to 65,000 hours. Pendleton has been approached by Carter Corporation to supply 20,000 units of another cutting tool, S3, for $120 per unit. Pendleton must either accept the order for all 20,000 units or reject it totally. S3 is exactly like R3 except that its variable manufacturing cost is $70 per unit. (It takes one hour to produce one unit of S3 on the regular machine, and variable marketing cost equals $15 per unit.) What product mix should Pendleton choose to maximize operating income? Show your calculations.,I appreciate your assistance with how to work this problem out.,hello i just received a text?,What happens now?,ok thanks
Question 5
To achieve high-quality performance, organizations have to match job requirements with people. A job analysis is used to acquire detailed information about jobs. In addition, the job analysis is critical in determining the selection of qualified candidates, the design of a job, staffing and training needs, performance appraisals, and compensation. Write a six to eight (6-8) page paper in which you: Analyze three (3) elements of a job analysis, and discuss its significance to the hiring and employee development aspects of human resource management. Describe the importance of the position analysis and questionnaire (PAQ). Propose two (2) ways that the results of a PAQ can be used by human resource managers for work redesign of a customer service job to make it more efficient and to improve quality. Develop two (2) strategies that a human resource professional can use in the selection of qualified applicants for a customer service position based on the Fleishman Job Analysis System. Consider the job of a customer service representative who handles consumer inquiries for a company that sells items online and by catalog. Examine two (2) challenges of designing this job for efficiency. Propose two (2) suggestions for how the job can be redesigned to make it more efficient. Propose three (3) ways the human resource manager can use the information obtained from a job analysis to measure the performance of the customer service representatives. Use at least three (3) quality academic resources in this assignment. Note: Wikipedia and other Websites do not qualify as academic 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.
