The document provides information on accounting procedures for fish farming businesses. It discusses recording transactions both within the farm as well as transactions between the farm and the owner's household. It also discusses the preparation of final accounts for the farm business using either the single entry method or double entry method. Key records maintained include a cash book, stock register, fixed asset register, loan register and analytical cost centers to track the performance and costs of different crops/activities. Final accounts determine the profitability of the business by comparing total revenue to total costs.
3t3113Exercise 1 6-15 Completing a process cost summary L..docxgilbertkpeters11344
3t3113
Exercise 1 6-15 Completing a process cost summary L.O. C3
The following partially completed process cost summary describes the May production activities of Raman
Company. lts production output is sent to its warehouse for shippinll.
Er;uiwlent units of production
Units ttra,nsfened out
Units cif r::nding goods in process
Equiwllernt units of production
Costs per EUP
Costs ofllleginning goods in process
Costs inin;uned this period
Total c01il;1;s $908,800
Units ir:r Jireginning goods in process 7,0A0
Units slti:rrl.ed this period 135,000
Units cr)rnpleted and transfened out 122,000
Units in r:lnding goods in process 20,000
Prepare ilr:; process cost summary using the weighted-arerage 'n,ethod. {ffi*u*"rd ysss"
#ffis\tr*r{;; llc$ * d**$stt*$ p$mcex *maf m*msid*r the ss$T* I*"r tF ie *t*"ser *m$*u$at$*ns"
*nsn&r#ils li:*' the rte*r*S **$$*r #r*']sqJ$'!t. #sx'*$t the o*$*n s*gffi irx ymu r respffiffis#.]
Direct
Materials
1 22,000
20:000
--::::::
Direct
Materials
$ 35,000
873,900
Direct F:tactory
Labor ()'verhead
122,000 1,22,000
]orooo ]o':oo
132,000 1 ,32,000
Direct l:iactory
Labor (lvrerhead
$ 1,600 {; 3,200
1041000 308,000
$105,600 {,211,200
*qls* g*wr ffi{-$F
ffi,e***nd qlth**n
RAMAN COMPANY
Process Cost Summary
For Month Ended May 31
to ProductionCosts Ch
,-t- L-- -E r .
ezts.mhecl oud. ntcg raw hi ll I .com/hm,tpx
Total cori;1l,s to account for
Units to account for
Units s;tmfted this period +
nt
tinnin,* qoods in orocess
Total unil,s to account for
E,quiralent Units of Production (EUP)
Units c;ornpleted and transfened out T
l u"itr ,;; ii
Equivaft,:nirl, units of production
Cost per EUP
lc"rts ;;i,"i
f c"qL-_iil,
Total cosrt$
lEqri*il1|
Cost peir lEiiUP
i:lg,800
1)rl15r8oo
.,^.'.:."1.'?:::o:,
Unit co::,t information
135,00:|
7,00r.I
Units accounted for
Compteted & transfened out z r
Endina qoods in process i ''
1 22,000
20,000
Direct Materia s
Total units accounted for
Direct Labor Factory Orcrhead
Direct Material:rs
$
Factory Owrhead
$
Cost assignment and reconciliation
per EUP
Direct Labor
per EUP per EUP
1t11
uosts relnfi'Tereo oul
Factory errre*r€?d f
Direct niaterials r
Direct latNrr !r
3lsl13 Assigrrrent PrintMew
Total trant'i'lbned out
Costs of endino ooods in orocess
(Click to s,elect) ?
Direct rnaterials ?
Factorl' rll'v{grhead s
Total enrlinrg goods in process
Total costs; accounted for
Y$:nrffi.
llllorkshr::r:r1l;
Fxercise :tti-f 5 Cornplefirig a prCIsess cssf s{Jrnff?ary
r.o. c3
Exercise 't6-4 Recording overhead casts L.O. P3
Prepare joumal entries to record the following production acti\,ities.
l. Paid civerhead costs (otherthan indirect materials and indirect labor) of $23,000. {Omit the "$" sign in
your rcsponse,)
2.
General Joumal
trIII
tF
General Journal
EPl:r
ti
.;
Vierar-.flint #1
Worksh,Hret
Debit Credit
23,004
2. Used $58,000 of direct laborin production. Applied o\erhead at ti5% of direct laborcosts. {Omitthe "$"
sign in your re.
Photosynthesis Lab Below is a listing which will help you .docxrandymartin91030
Photosynthesis Lab
Below is a listing which will help you to prepare for the quiz and lab on this
material.
I. Autotrophs & Heterotrophs –
Photosynthetic autotrophs - plants & algae (autotrophs = self feeders)
Chemosynthetic autotrophs – bacteria
• Obtain their energy from stripping electrons from inorganic sulfur & nitrogen
compounds
Heterotrophs - "other feeders"
• Obtain carbon and energy from organic compounds assembled by autotrophs
• Ex: all organisms which are not autotrophs; animals & fungi, etc
II. Photosynthesis Overview –
2 major parts:
A. Light Dependent reactions - "light reactions" (photo portion of photosynthesis)
• These reactions capture and convert the sun's energy into chemical energy in
the form of ATP & NADPH
• Consists of CYCLIC and NON-CYCLIC PHOTOPHOSPHORYLATION
Click Here for an IMAGE of photosynthesis-
B. Light Independent Reactions - "dark rxns"
aka: the Calvin-Benson Cycle
1. The energy captured in the light rxns. is used to build sugars
2. This is the biosynthesis portion
o The ATP and NADPH from the light reactions are used to build the
sugar
o ATP provides the energy
o NADPH provides electrons and H+
http://www.palmbeachstate.edu/faculty/allenc/bio/photo.gif
III. Balanced Equation for Photosynthesis –
12H2O + 6CO2 -------> C6H12O6 + 6O2 + 6H2O
reactants products
IV. Chloroplasts & Pigments –
A. Chloroplasts - are the organelles in which photosynthesis occurs
B. Pigments are molecules which have the capacity to absorb photons of light energy
2. Chlorophyll
a. A pigment which absorbs blue and red wavelengths of light (reflect back the
Click Here for an IMAGE of the EM Spectrum
http://www.palmbeachstate.edu/faculty/allenc/bio/spectrum.gif
PY Fin'l StmtsAcme Corp.Prepared by:Prior Year Financial StatementsJanuary 31, 2008Acme CorporationBalance SheetDecember 31, 2012 and 2011Assets20122011Current Assets:Cash$ 1,015,000$ 727,000Accounts receivable, net1,517,7001,213,500Inventories556,000249,000Other current assets280,000353,500Total current assets3,368,7002,543,000Machinery and equipment2,275,9001,674,500Motor vehicles66,70048,000Office equipment45,00033,000Leasehold improvements197,500181,500Gross equipment and leasehold improvements2,585,1001,937,000Less accumulated depreciation and amortization1,375,000965,500Net value1,210,100971,500Other assets147,00061,500Total Assets$ 4,725,800$ 3,576,000Liabilities and Stockholders' EquityCurrent Liabilities:Accounts payable1,094,300222,000Accrued expenses1,220,0001,082,000Other current liabilities95,00082,500Total current liabilities2,409,3001,386,500Stockholders' EquityCommon stock394,500394,500Retained earnings1,922,0001,795,000Total equity2,316,5002,189,500Total liabilities and equity$ 4,725,800$ 3,576,000Acme CorporationStatement of Income and Retained EarningsFor the Years Ended December 31, 201.
3117t13 A;signment Print View
Es<ercise 17-1 4 Activity-based cosling af overhead L.O. p3
Northwest Company produces two types of glass shelMng, roundeC edge and squared edge, on the same
production line- For the cunent period, the company reports the folk:wing data.
1,
orerhend (300% of direct labor cost) 18,600 3tt,700 il,300
Total c;ost
Quantity produced
Ar,eragie cost per ft.
$ 34,1ao $ €,tl,zoo g 1o3,3oo
10,500 ft. 14,1AO ft..
$ 3.25 $ 4.e1
Northwest's controller wishes to apply activty{ased costing (ABi:)) to allocate the $54,300 of or,erhead
costs incuned by the two product lines to see whether cost per foot vvould change markedly ftom that
reported abo\,e. She has collected the bllowing information.
Overhead Cost Category (Actirity Cost Pool) Cost
Supervision $ 2,172
Depreciation of machinery 29,000
Assembly line preparation 23J29
Total orcrhead $ il,300
She has also collected the following information about the cost dri\,ers {or each category (cost pool) and the
amount rf each dri\,er used by the two product lines.
Usage
Overherd Cost Category
(Activity,Cost Pool) Drir,er Rounded Edg() Squared Edge Total
Supenision Direct taborcost (g) $ 6,200 $ 11,900 g 18,100
Depreciation ofmachinery Machine hours 300 hounr 700 hours 1,000 hours
Assemlty line preparation Setups (number) 31 timesr g3 times 124 times
l. Assign these thre€ overhead cost poots to each ofthe two proclucts using ABC. {Do not round your
interrnediafe Ealculations and round llnal ansl,v€rs to lhe neared dollar amosnl Omit th; '.$..
dgn iin your response.)
Product Assigned cost
Rounded edge $,
Squared edge $
2. Detenrnine a\,erage cost per foot for each of the two prcducl.j using ABC. (Do not round your
intermediste calculations. Round your answers to 2 decirn;rl places. omit the .'$,. sign in your
respc'nse.)
Rounded edge Squared edlF
Averirge cost per foot (ABC) $ $
Direct materials
Direct labor
W *rk*ktze2
Fx*r*rs* 1",7-t 4,Acflvdy-#a$## sosffr?g *f oy*rhe*rj
r"*" P3
Rounded Edge Squan:d Edge Total
$ 9,300 $zt,6oo $ 3o,goo
6,200 1 1,900 18,100
2.
Fxercise 1 i7-t 5 Activity-based cosfing L.O. PJ
Health Co-op is an outpatient surgical clinic that was profitable for rrrany years, but Medicare has cut its
reimbursements by as much as 50%. As a result, the clinic wants to better understand its costs. lt decides
to prepare an actiVtyiased cost analysis, including an estimate of thr: 6rpr6gg cost of both general surgery
1t11
3t17t13
3.
Aisignrnent Print View
and orthopedic surgery. The clinic's three cost centers and their c(rst driwrs follow.
Cost Center Cost Cost Drir,rer
Professional salaries . $ 1,2gg,000 professional l.rours
Patient seruices and supplies 2132A Number of palients
Buildirrgl cost 113,600 Square feet
The twcl rnain surgical units and their related data follow.
Service
Generill surgery
Ofthopedic surgery
Cost Center
Prcilessional salaries
Patient senices & supplies
Buildiing cost
Design de,partment
Clienll consultation
Drawi.
It is the branch of engineering which deals with the measurement, monitoring, display etc. of the several of energy exchanges which take place during process operations. "In short Instrumentation is the study of Instrument.
2t5h3
2.
a na l),s is.
Exercise 13-4 Determination af income effects from common-size and trend percents L.O. P1 , P2
Common+ize and lrend percents for Aziz Company's sales, cost of goods sold, and expenses fidlow.
Sales
Cost of gmds sold
Total expenses
9:'T::"11: l:T:"1:
2012 2011 2010
100.0% 100.0% 100.0%
62.6 61.1 58.3
14.4 13.9 14.2
l'"::l.'::1"::ll:
20'.t2 2011 20'10
104.8% 103.6% 100.0%
102.4 108.5 100.0
106.4 10't.4 100.0
Determine net income as a percent of sales for the folloiving years. {Round your intermediate
calculations to J decimal place and final ansvvers to 2 decimal places, Omit the "7o" sign in your
response.)
Years
2010
20'11
2012
Should the net income increased, decreased, or remained unchanged in this three'year period.
'| Net income decreased
'... Remained unchanged
. Net income increased
Workshaet
Net incorne
o/o
Yo
lo
At December 31
Assets
Cash
Accounts recei\€ble, net
Merchandise inentory
Prepaid expenses
Plant assets, net
Total assets
Liabilities and Equity
Accounts payable
LongFterm notes payable secured by
mortgages on plant assets
Common stock, $10 par \alue
Retained eamings
Total liabilities and equity
Express the balance sheets in
round your final an$/ars to 1 deci
Cash
Accounts receivable, net
Merchandise inv-.ntory
ezto.nheclciJd.nrcg rav*hill.con/hm.tpx
2011 2010
$ 35,079 $ 35,838
58,408 47,306
79,U4 51,4U
8.761 3,982
243,920 223,470
$ 425,712 $362,000
,733 $ 71,945
97,914
163,500
92,353
place. Omit tlre "Yo" sign in your
Sanderson Company
Compaative Balance Sheels
December 31, 2O1O - 20'12
2012
percents. {Do not round i ate calculations and
6.O Yo
'16.s
21.9
$ 46,s50
79,202
163,500
72:s4::
$362,000
2011
8.2 %
13.7
18.7
2010
.9.9 To
13.1
14.2
217
215113 Assignnrent PrintMar
:::J -"9 l' . , -,,,,..:.-, :i j:: ,jls.
9. 1o.oo points
Problem 13-34 Transactions, vwrking capital, and liquidity ratios L.O. P3
Park Corporation began the month of May with $800,000 of cunent assets, a cunent ratio of2.50:1, and an
aci+test ratio of 1.70:1. During the month, it completed the following transactions (the company uses a
perpetual in\entory system).
May 2 Purchased $60,000 ofmerchandise inrentory on credit.
8 Sold merchandise in\,entory that cost $65,000 for $125,000 cash.
10 Collected $26,000 cash on an account recei\Eble.
15 Paid $23,500 cash to settle an account payable.
17 Wrote ofi a $5,000 bad debt against the Allowance for Ooubtful Accounts account.
22 Declared a $1 per share cash diridend on its 60,000 shares ofoutstanding common stock.
26 Paid the diVdend declared on May 22.
27 Bonowed $100,000 cash by giving the bank a 30day, 10% note.
28 Bonowed $125,000 cash by signing a long-term secured note.
29 Used the $225,000 cash proceeds ftom the notes to buy new machinery.
Required:
Prepare a table showing Park's (1) cunent ratio, (2) acid-test ratio, and (3) working capital, after each
transaction. (Do not round intermediate calculations, Round your ratios .
4ftn3 Assignrnent Print Msr
Exercise ))-1-16 Direet materiats and direct labor variances L"A" PZ
The folilowing inforrnation describes production actir,ities of Truzar l,lanuhcturing forthe year
BudgeteJ standards for each unit produced are 1.00 pounds of nrw material at $5.80 per pourd and 10.0
minutes of direct labor at $15.50 per hour.
(1)Compute the dircct matefials price and quantity \ariances.{lnput all amount aea positive value.
lndicate the effect of each varianc€ by selecting "F" for favorable, "U" for unfavorable, and
'Non'e" for no effect {i.e., zero variance}, Leave no crl{ls blank - be certain to enler "0"
wherrever required. Omit the '$" dgn in your response)
Actuarl raw matedals used
Actual factory payroll
Actual units prroduced
Price \adance
Quantity rariance
Rate rarianee
Effciency \ariance
38,000 lbs. at $5.70 per lb.
6,000 hours for a total of $96,[,110
30,000
$ ffi.H
$
(2lc.e,rnpute the dir€ct labor €te and &ciercy wiances. (lnp,ut all amount as a positive value.
lndicale the effiect of each variance by selecting "F" for favorable, "U" for unfavorable, and
"None" fur no efiect {i,e., zero variance}, Leave no cells blank - be certain to enter "0"
wherever required. Omit the "$' dgn in your raryonse)
Workshieet €xercise 2t -f 6 !)irecf m*fen'aJs and direct ia$ sr
yariances L.A f ,?
Learning Objective: 21-P? Com pute m aterials and
labor \tariances.
2.
Exercise 21-3 Preparation af a flexible budget pertormance report L.O. P1
Omanon Company's fixed budget performance rcport for July fullcrrs. The $630,Ct00 budgeted expenses
include $592,2ff1 rariable expenses and $37,800 fxed expensas. l\ctual expenses include $49,800 fixed
expenses.
Fixed Budget Actual Results Vimances
8,400 10,900Sales (in units)
Sales (in dollars)
Totat exp,enses
lncome f,om operations $21 0,000 $ 324,000 $11 4,000 F
Preparc a flexible budget perbrmance rcport sholving any \ariances between budgeted rcsults and actual
result$. List fxed and variade expenses separately. $np$t all am.0unts as a positive value. lndicate
the effeet of each variance by seleeting "F" for ftvorable, "U" llor undavorable, and "None" for no
effect (i.e.. zero variance), Leave no cells blank - be certain I't enler "0" wherever required. Do
not round your intermediate calculations and round your {i:'ral ansyers to the nearest dollar
amount, Ormit the "$" dgn ln your response.)
CIMARRON MMPANY
Flexible Budget Performance F:eport
For Month Ended July 31
Flexible Budget Actual Results Variances
[email protected]!ffi$ $
Cltck to ,selectl v
$840,000 $1,090,000 $2rt0,000 F
630,000 756,000 1i:6,000 u
ezto. n*recl oud. ntcg ra^r- hii I I .corr/hm.tpx u1a
4nn3
Click to select) i -
Clicrk to select) ;-
A;signrnent Print Mew
L*arning Objei:tiw:21-P1 Prepare a fiexible Lrudget
and interpret a lexible budget performance report.
Vievu_Hnt #1
Worke heet
Fxercrbe 2t-3 Freparufion ofa i?exibie budgef
pedornrirnce rcpCIrf 1.CI. Ff
3.
Rate Variance
Effr;iency Varianc.
3t3113Exercise 1 6-15 Completing a process cost summary L..docxgilbertkpeters11344
3t3113
Exercise 1 6-15 Completing a process cost summary L.O. C3
The following partially completed process cost summary describes the May production activities of Raman
Company. lts production output is sent to its warehouse for shippinll.
Er;uiwlent units of production
Units ttra,nsfened out
Units cif r::nding goods in process
Equiwllernt units of production
Costs per EUP
Costs ofllleginning goods in process
Costs inin;uned this period
Total c01il;1;s $908,800
Units ir:r Jireginning goods in process 7,0A0
Units slti:rrl.ed this period 135,000
Units cr)rnpleted and transfened out 122,000
Units in r:lnding goods in process 20,000
Prepare ilr:; process cost summary using the weighted-arerage 'n,ethod. {ffi*u*"rd ysss"
#ffis\tr*r{;; llc$ * d**$stt*$ p$mcex *maf m*msid*r the ss$T* I*"r tF ie *t*"ser *m$*u$at$*ns"
*nsn&r#ils li:*' the rte*r*S **$$*r #r*']sqJ$'!t. #sx'*$t the o*$*n s*gffi irx ymu r respffiffis#.]
Direct
Materials
1 22,000
20:000
--::::::
Direct
Materials
$ 35,000
873,900
Direct F:tactory
Labor ()'verhead
122,000 1,22,000
]orooo ]o':oo
132,000 1 ,32,000
Direct l:iactory
Labor (lvrerhead
$ 1,600 {; 3,200
1041000 308,000
$105,600 {,211,200
*qls* g*wr ffi{-$F
ffi,e***nd qlth**n
RAMAN COMPANY
Process Cost Summary
For Month Ended May 31
to ProductionCosts Ch
,-t- L-- -E r .
ezts.mhecl oud. ntcg raw hi ll I .com/hm,tpx
Total cori;1l,s to account for
Units to account for
Units s;tmfted this period +
nt
tinnin,* qoods in orocess
Total unil,s to account for
E,quiralent Units of Production (EUP)
Units c;ornpleted and transfened out T
l u"itr ,;; ii
Equivaft,:nirl, units of production
Cost per EUP
lc"rts ;;i,"i
f c"qL-_iil,
Total cosrt$
lEqri*il1|
Cost peir lEiiUP
i:lg,800
1)rl15r8oo
.,^.'.:."1.'?:::o:,
Unit co::,t information
135,00:|
7,00r.I
Units accounted for
Compteted & transfened out z r
Endina qoods in process i ''
1 22,000
20,000
Direct Materia s
Total units accounted for
Direct Labor Factory Orcrhead
Direct Material:rs
$
Factory Owrhead
$
Cost assignment and reconciliation
per EUP
Direct Labor
per EUP per EUP
1t11
uosts relnfi'Tereo oul
Factory errre*r€?d f
Direct niaterials r
Direct latNrr !r
3lsl13 Assigrrrent PrintMew
Total trant'i'lbned out
Costs of endino ooods in orocess
(Click to s,elect) ?
Direct rnaterials ?
Factorl' rll'v{grhead s
Total enrlinrg goods in process
Total costs; accounted for
Y$:nrffi.
llllorkshr::r:r1l;
Fxercise :tti-f 5 Cornplefirig a prCIsess cssf s{Jrnff?ary
r.o. c3
Exercise 't6-4 Recording overhead casts L.O. P3
Prepare joumal entries to record the following production acti\,ities.
l. Paid civerhead costs (otherthan indirect materials and indirect labor) of $23,000. {Omit the "$" sign in
your rcsponse,)
2.
General Joumal
trIII
tF
General Journal
EPl:r
ti
.;
Vierar-.flint #1
Worksh,Hret
Debit Credit
23,004
2. Used $58,000 of direct laborin production. Applied o\erhead at ti5% of direct laborcosts. {Omitthe "$"
sign in your re.
Photosynthesis Lab Below is a listing which will help you .docxrandymartin91030
Photosynthesis Lab
Below is a listing which will help you to prepare for the quiz and lab on this
material.
I. Autotrophs & Heterotrophs –
Photosynthetic autotrophs - plants & algae (autotrophs = self feeders)
Chemosynthetic autotrophs – bacteria
• Obtain their energy from stripping electrons from inorganic sulfur & nitrogen
compounds
Heterotrophs - "other feeders"
• Obtain carbon and energy from organic compounds assembled by autotrophs
• Ex: all organisms which are not autotrophs; animals & fungi, etc
II. Photosynthesis Overview –
2 major parts:
A. Light Dependent reactions - "light reactions" (photo portion of photosynthesis)
• These reactions capture and convert the sun's energy into chemical energy in
the form of ATP & NADPH
• Consists of CYCLIC and NON-CYCLIC PHOTOPHOSPHORYLATION
Click Here for an IMAGE of photosynthesis-
B. Light Independent Reactions - "dark rxns"
aka: the Calvin-Benson Cycle
1. The energy captured in the light rxns. is used to build sugars
2. This is the biosynthesis portion
o The ATP and NADPH from the light reactions are used to build the
sugar
o ATP provides the energy
o NADPH provides electrons and H+
http://www.palmbeachstate.edu/faculty/allenc/bio/photo.gif
III. Balanced Equation for Photosynthesis –
12H2O + 6CO2 -------> C6H12O6 + 6O2 + 6H2O
reactants products
IV. Chloroplasts & Pigments –
A. Chloroplasts - are the organelles in which photosynthesis occurs
B. Pigments are molecules which have the capacity to absorb photons of light energy
2. Chlorophyll
a. A pigment which absorbs blue and red wavelengths of light (reflect back the
Click Here for an IMAGE of the EM Spectrum
http://www.palmbeachstate.edu/faculty/allenc/bio/spectrum.gif
PY Fin'l StmtsAcme Corp.Prepared by:Prior Year Financial StatementsJanuary 31, 2008Acme CorporationBalance SheetDecember 31, 2012 and 2011Assets20122011Current Assets:Cash$ 1,015,000$ 727,000Accounts receivable, net1,517,7001,213,500Inventories556,000249,000Other current assets280,000353,500Total current assets3,368,7002,543,000Machinery and equipment2,275,9001,674,500Motor vehicles66,70048,000Office equipment45,00033,000Leasehold improvements197,500181,500Gross equipment and leasehold improvements2,585,1001,937,000Less accumulated depreciation and amortization1,375,000965,500Net value1,210,100971,500Other assets147,00061,500Total Assets$ 4,725,800$ 3,576,000Liabilities and Stockholders' EquityCurrent Liabilities:Accounts payable1,094,300222,000Accrued expenses1,220,0001,082,000Other current liabilities95,00082,500Total current liabilities2,409,3001,386,500Stockholders' EquityCommon stock394,500394,500Retained earnings1,922,0001,795,000Total equity2,316,5002,189,500Total liabilities and equity$ 4,725,800$ 3,576,000Acme CorporationStatement of Income and Retained EarningsFor the Years Ended December 31, 201.
3117t13 A;signment Print View
Es<ercise 17-1 4 Activity-based cosling af overhead L.O. p3
Northwest Company produces two types of glass shelMng, roundeC edge and squared edge, on the same
production line- For the cunent period, the company reports the folk:wing data.
1,
orerhend (300% of direct labor cost) 18,600 3tt,700 il,300
Total c;ost
Quantity produced
Ar,eragie cost per ft.
$ 34,1ao $ €,tl,zoo g 1o3,3oo
10,500 ft. 14,1AO ft..
$ 3.25 $ 4.e1
Northwest's controller wishes to apply activty{ased costing (ABi:)) to allocate the $54,300 of or,erhead
costs incuned by the two product lines to see whether cost per foot vvould change markedly ftom that
reported abo\,e. She has collected the bllowing information.
Overhead Cost Category (Actirity Cost Pool) Cost
Supervision $ 2,172
Depreciation of machinery 29,000
Assembly line preparation 23J29
Total orcrhead $ il,300
She has also collected the following information about the cost dri\,ers {or each category (cost pool) and the
amount rf each dri\,er used by the two product lines.
Usage
Overherd Cost Category
(Activity,Cost Pool) Drir,er Rounded Edg() Squared Edge Total
Supenision Direct taborcost (g) $ 6,200 $ 11,900 g 18,100
Depreciation ofmachinery Machine hours 300 hounr 700 hours 1,000 hours
Assemlty line preparation Setups (number) 31 timesr g3 times 124 times
l. Assign these thre€ overhead cost poots to each ofthe two proclucts using ABC. {Do not round your
interrnediafe Ealculations and round llnal ansl,v€rs to lhe neared dollar amosnl Omit th; '.$..
dgn iin your response.)
Product Assigned cost
Rounded edge $,
Squared edge $
2. Detenrnine a\,erage cost per foot for each of the two prcducl.j using ABC. (Do not round your
intermediste calculations. Round your answers to 2 decirn;rl places. omit the .'$,. sign in your
respc'nse.)
Rounded edge Squared edlF
Averirge cost per foot (ABC) $ $
Direct materials
Direct labor
W *rk*ktze2
Fx*r*rs* 1",7-t 4,Acflvdy-#a$## sosffr?g *f oy*rhe*rj
r"*" P3
Rounded Edge Squan:d Edge Total
$ 9,300 $zt,6oo $ 3o,goo
6,200 1 1,900 18,100
2.
Fxercise 1 i7-t 5 Activity-based cosfing L.O. PJ
Health Co-op is an outpatient surgical clinic that was profitable for rrrany years, but Medicare has cut its
reimbursements by as much as 50%. As a result, the clinic wants to better understand its costs. lt decides
to prepare an actiVtyiased cost analysis, including an estimate of thr: 6rpr6gg cost of both general surgery
1t11
3t17t13
3.
Aisignrnent Print View
and orthopedic surgery. The clinic's three cost centers and their c(rst driwrs follow.
Cost Center Cost Cost Drir,rer
Professional salaries . $ 1,2gg,000 professional l.rours
Patient seruices and supplies 2132A Number of palients
Buildirrgl cost 113,600 Square feet
The twcl rnain surgical units and their related data follow.
Service
Generill surgery
Ofthopedic surgery
Cost Center
Prcilessional salaries
Patient senices & supplies
Buildiing cost
Design de,partment
Clienll consultation
Drawi.
It is the branch of engineering which deals with the measurement, monitoring, display etc. of the several of energy exchanges which take place during process operations. "In short Instrumentation is the study of Instrument.
2t5h3
2.
a na l),s is.
Exercise 13-4 Determination af income effects from common-size and trend percents L.O. P1 , P2
Common+ize and lrend percents for Aziz Company's sales, cost of goods sold, and expenses fidlow.
Sales
Cost of gmds sold
Total expenses
9:'T::"11: l:T:"1:
2012 2011 2010
100.0% 100.0% 100.0%
62.6 61.1 58.3
14.4 13.9 14.2
l'"::l.'::1"::ll:
20'.t2 2011 20'10
104.8% 103.6% 100.0%
102.4 108.5 100.0
106.4 10't.4 100.0
Determine net income as a percent of sales for the folloiving years. {Round your intermediate
calculations to J decimal place and final ansvvers to 2 decimal places, Omit the "7o" sign in your
response.)
Years
2010
20'11
2012
Should the net income increased, decreased, or remained unchanged in this three'year period.
'| Net income decreased
'... Remained unchanged
. Net income increased
Workshaet
Net incorne
o/o
Yo
lo
At December 31
Assets
Cash
Accounts recei\€ble, net
Merchandise inentory
Prepaid expenses
Plant assets, net
Total assets
Liabilities and Equity
Accounts payable
LongFterm notes payable secured by
mortgages on plant assets
Common stock, $10 par \alue
Retained eamings
Total liabilities and equity
Express the balance sheets in
round your final an$/ars to 1 deci
Cash
Accounts receivable, net
Merchandise inv-.ntory
ezto.nheclciJd.nrcg rav*hill.con/hm.tpx
2011 2010
$ 35,079 $ 35,838
58,408 47,306
79,U4 51,4U
8.761 3,982
243,920 223,470
$ 425,712 $362,000
,733 $ 71,945
97,914
163,500
92,353
place. Omit tlre "Yo" sign in your
Sanderson Company
Compaative Balance Sheels
December 31, 2O1O - 20'12
2012
percents. {Do not round i ate calculations and
6.O Yo
'16.s
21.9
$ 46,s50
79,202
163,500
72:s4::
$362,000
2011
8.2 %
13.7
18.7
2010
.9.9 To
13.1
14.2
217
215113 Assignnrent PrintMar
:::J -"9 l' . , -,,,,..:.-, :i j:: ,jls.
9. 1o.oo points
Problem 13-34 Transactions, vwrking capital, and liquidity ratios L.O. P3
Park Corporation began the month of May with $800,000 of cunent assets, a cunent ratio of2.50:1, and an
aci+test ratio of 1.70:1. During the month, it completed the following transactions (the company uses a
perpetual in\entory system).
May 2 Purchased $60,000 ofmerchandise inrentory on credit.
8 Sold merchandise in\,entory that cost $65,000 for $125,000 cash.
10 Collected $26,000 cash on an account recei\Eble.
15 Paid $23,500 cash to settle an account payable.
17 Wrote ofi a $5,000 bad debt against the Allowance for Ooubtful Accounts account.
22 Declared a $1 per share cash diridend on its 60,000 shares ofoutstanding common stock.
26 Paid the diVdend declared on May 22.
27 Bonowed $100,000 cash by giving the bank a 30day, 10% note.
28 Bonowed $125,000 cash by signing a long-term secured note.
29 Used the $225,000 cash proceeds ftom the notes to buy new machinery.
Required:
Prepare a table showing Park's (1) cunent ratio, (2) acid-test ratio, and (3) working capital, after each
transaction. (Do not round intermediate calculations, Round your ratios .
4ftn3 Assignrnent Print Msr
Exercise ))-1-16 Direet materiats and direct labor variances L"A" PZ
The folilowing inforrnation describes production actir,ities of Truzar l,lanuhcturing forthe year
BudgeteJ standards for each unit produced are 1.00 pounds of nrw material at $5.80 per pourd and 10.0
minutes of direct labor at $15.50 per hour.
(1)Compute the dircct matefials price and quantity \ariances.{lnput all amount aea positive value.
lndicate the effect of each varianc€ by selecting "F" for favorable, "U" for unfavorable, and
'Non'e" for no effect {i.e., zero variance}, Leave no crl{ls blank - be certain to enler "0"
wherrever required. Omit the '$" dgn in your response)
Actuarl raw matedals used
Actual factory payroll
Actual units prroduced
Price \adance
Quantity rariance
Rate rarianee
Effciency \ariance
38,000 lbs. at $5.70 per lb.
6,000 hours for a total of $96,[,110
30,000
$ ffi.H
$
(2lc.e,rnpute the dir€ct labor €te and &ciercy wiances. (lnp,ut all amount as a positive value.
lndicale the effiect of each variance by selecting "F" for favorable, "U" for unfavorable, and
"None" fur no efiect {i,e., zero variance}, Leave no cells blank - be certain to enter "0"
wherever required. Omit the "$' dgn in your raryonse)
Workshieet €xercise 2t -f 6 !)irecf m*fen'aJs and direct ia$ sr
yariances L.A f ,?
Learning Objective: 21-P? Com pute m aterials and
labor \tariances.
2.
Exercise 21-3 Preparation af a flexible budget pertormance report L.O. P1
Omanon Company's fixed budget performance rcport for July fullcrrs. The $630,Ct00 budgeted expenses
include $592,2ff1 rariable expenses and $37,800 fxed expensas. l\ctual expenses include $49,800 fixed
expenses.
Fixed Budget Actual Results Vimances
8,400 10,900Sales (in units)
Sales (in dollars)
Totat exp,enses
lncome f,om operations $21 0,000 $ 324,000 $11 4,000 F
Preparc a flexible budget perbrmance rcport sholving any \ariances between budgeted rcsults and actual
result$. List fxed and variade expenses separately. $np$t all am.0unts as a positive value. lndicate
the effeet of each variance by seleeting "F" for ftvorable, "U" llor undavorable, and "None" for no
effect (i.e.. zero variance), Leave no cells blank - be certain I't enler "0" wherever required. Do
not round your intermediate calculations and round your {i:'ral ansyers to the nearest dollar
amount, Ormit the "$" dgn ln your response.)
CIMARRON MMPANY
Flexible Budget Performance F:eport
For Month Ended July 31
Flexible Budget Actual Results Variances
[email protected]!ffi$ $
Cltck to ,selectl v
$840,000 $1,090,000 $2rt0,000 F
630,000 756,000 1i:6,000 u
ezto. n*recl oud. ntcg ra^r- hii I I .corr/hm.tpx u1a
4nn3
Click to select) i -
Clicrk to select) ;-
A;signrnent Print Mew
L*arning Objei:tiw:21-P1 Prepare a fiexible Lrudget
and interpret a lexible budget performance report.
Vievu_Hnt #1
Worke heet
Fxercrbe 2t-3 Freparufion ofa i?exibie budgef
pedornrirnce rcpCIrf 1.CI. Ff
3.
Rate Variance
Effr;iency Varianc.
Final Essay ExamGEOL 108For this final essay exam you are re.docxmydrynan
Final Essay Exam
GEOL 108
For this final essay exam you are required to answer all five (5) of the questions. Although there is no set word limit for these essay questions, you will be greaded on your knowledge of the material and the detail with which you write your answers. You should take care to cite your sources in APA format and provide full references in a Works Cited list.
1. Describe the paths of water through the hydrologic cycle. Explain the processes and the energy gains and losses involved in the changes of water between its 3 states. Operationally, we often most concerned with water does when it reaches the solid earth, both on the surface and in the sub-surface. Explain the relationship between the saturated zone, the water table, a ground water well and the cone of depression, all within the sub-surface.
2. The food chain is a valuable concept in biogeography. Give an example of a specific food chain, labeling the various levels of the food chain. After looking at characteristics of food chains, explain how a geographer’s approach to the study of organisms might be different than biologist’s study of organisms; what would each try to emphasize more than the other? What exactly is a biome? Compare/contrast the concept of the biome with that of the zoogeographic region. Compare/contrast the floral characteristics of 2 of the following biomes: Desert, Tundra, Midlatitude Grassland and Boreal Forest.
3. Theorize the difference in soil development in adjoining soils developed on forested, sloped area versus a grassed flat area. What are the soil-forming factors? Explain the importance of the nature of the parent material to soil formation and type. Then, cite at least 2 examples in which the influence of parent materials might be outweighed by other soil-forming factors. Explain the “struggle” between the internal and external processes in shaping the Earth’s surface. What are the different ways that the surface of the Earth is changed over time?
4. Describe the general sequence of events in continental drift since the time of 5 separate continents 450 million years ago. What is the difference between the older continental drift theory by Wegener and the more recent plate tectonic theory? Plate tectonics theory explains many seemingly unrelated phenomena. Explain how the patterns of volcanoes and earthquakes related to plate tectonics. Explain several pieces of evidence that combine to make the theory of plate tectonics the one that is generally accepted.
5. Provide a reason why some scientists believe the Pleistocene is over and a reason why other scientists believe we are now in an interglacial stage. Some believe, for example, that since areas of pack ice and glacial ice still exist we are still in an ice age. Others, on the other hand, seeing the rapid retreat of ice and snow pack in many areas, believes that this period of glaciation has ended. So, using some other justifications, why do we see some differences in int ...
1. What are the four basic financial statements and what can you l.docxjackiewalcutt
1. What are the four basic financial statements and what can you learn about a company from each one? (Don't tell us what is on each statement but rather what can you learn by analyzing the statements)
2. Discuss the general factors that influence the quality of a company's reported earnings and its balance sheet.
Problem 2
Balance Sheet(walmart)
Total assets $10,000,000
Accounts payable $ 2,000,000
Notes payable (8%) 1,000,000
Bonds (10%) 3,000,000
Common stock at par 1,000,000 Contributed capital in excess of par 500,000
Retained earnings 2,500,000
Total liabilities and stockholders' equity $10,000,000
Question-
Compute the return on stockholders' equity if (walmart) has sales of $20 million and the following net profit margin: and show ALL work
a. 3 percent
b. 5 percent
Insurance planning
1-Discuss the problem of moral hazard. How does the insurance company manage this?
Give examples
2-Discuss the concept of income replacement in determining an insurance need
give examples
Question 1
A life insurance policy is a contract governed by federal law.
True
False
2.5 points
Question 2
The principal economic purpose of life insurance is to accumulate capital.
True or False
Question 3
Life issurance is essentially an investment vehicle that ensures a desired wealth accumulation by the time of death, regardless when death occurs.
True
False
2.5 points
Question 4
The income replacement approach assumes the insurance should be equal to the value of the person's future earnings potential to the surviving family members.
True
False
2.5 points
Question 5
Insurance companies base their mortality assumptions on
the experience of large groups of people
published mortality results of other large life insurance companies
federally mandated mortality tables published by the Treasury Department
the individual assumptions made by actuaries employed by the company
2.5 points
Question 6
The "multiples-of-salary" method of estimating the amount of a family's insurance needs is
a rule of thumb method that determines insurance needs by looking at the number of children in the family
a method that was repealed by the Taxpayer Relief Act of 1997
a method combining a simple rule of thumb method with elements of income replacement and needs analysis
a method that can be used only by individuals who are properly licensed with the FAA
2.5 points
Question 7
The income replacement approach to determining a family's insurance needs is based primarily on?
the earnings growth rate of long-term U.S. Treasury securities
regulations issued by the Department of Health and Human Services
the current balance in the accumulated adjustment account
the human life value concept
2.5 points
Question 8
All of the following are primary life insurance planning areas, except
income replacement and family needs
portfolio value and allocation of assets between debt and equ ...
1nilB CHAPfER 12HOI\4EWORK
@l
CHAPTER T2 HOMEWORK
B.
Prablem 12-lA Statenent of cash flows (indirect method) L.O. 41 . Pl. P2, P3
Kazaam Company, a marchandiser, recenty comdeled its calendar-year2011 operations. For the year, (1)
all sales are credit sales, (2) all credits to Accounts Receisbla roftect cash receipts f,om custonrers, (3) all
prrchases of in\entory ara on cr€dit, (4) all debits to AccorJnts Payable relect cash payments for in/entory,
and (5) Other Expensas are paid in adwrne and are initially dabitad to Pnpaid Exponser. The company's
balance sheets ard income stat€ment blb\,-
KAZAAM COMPAI,IY
Comparatir,e B alarrco Sheets
December 31, 2011 and 2010
2011 2010
$ 49,800 S 73,500
65,880 57,000
277,AOO 251,000
1,250 1,800
158,500 106,500
(35,875) (46,000)
s 516,555 $443,800
$ 82,80s S 115,000
11,000 7,000
60,000 48,750
157,500 149,000
25,500 0
179,750 124,050
$ 516,555 $443,800
KAZAAM COMPANY
hcome Statem€nt
For Year Ended D€comber 31, 201 1
As3els
Cash
Accounts recei\EHe
Marchandise insntory
Prepaid expenses
Equipment
Accurn- depreciatN quipi"n€nt
Total asssls
LiabilitieBend Equity
Accounts payabb
Short-term notes payable
Lorp-term notes payable
C,ommon stock, $5 par raalue
Paid-in capital in excess ofpar, cornmon stock
R€tain€d eamings
Total liabilities and Gquity
Sales
Cost of goods sold
Gross profit
Operating exp€nses
Depreciatbn exp€nse
Other expnses
Other gains (losses)
Loss on sale of€quipmant
tr|come bebfe taxes
tlcome taxes expanse
Itlet incorns
s 583,000
286,000
297,000
$ 20,000
134,000 154,0m
137,500
25,500
5,500
$ 1 12,000
l- _ __._, , -----,.__.- * - ,__., .-._-::::-:a
Addllional hformafon on Yegr 2A11 Tnnsctions
a. The loss on the cash sal€ of equiprylent was $5,50O (details in b).
b, Sold equiprnent costing $47,250, with accumulated depreciation of$30,125, for 911,625 cash.
c. Purchasod equipment costing $99,250 by paying $25,[email protected] cash and signing a long.term note payable br
the balance-
d. Borroued $4,000 cash by silnirE a short-t€rm note payabl€.
e. Paid $63,@0 cesh to reducethe longiterm notes payabks.
f. lssued 1,700 shar6 of cornmon stock br $20 cash per share.
g. Daclarcd and paid cash dillderfrs of $ffi,300.
Required:
1. Prcpare a compl€te statefitsnt of cash florvs; repon [s op€rating actirities using the indirect meth(/,.
(Amounb to be deducted should be indicated with a minus sign. Omit the "3" sign in your
response.)
KAZAAM COMPANY
Statement of Cash Flom
1t2
1nu13 CHAPTER 12HOMEWCIRK
For Year Ended December 31, 201 1
fana- frs
Cash forvs fiom operating actirities
itbtincdns, '...,.., .,.. i .,, , 1v
Adiustments to reconcile net income to net
rua
"on llGE-l]]]lil incstins activties
Cash f,orls ftom fnancino actirities
Cashbaid dl nde: .lw
Ca*h'fioriorivedottshrt4eifi rde : r ..'ly
C'6h frorni63drEstsf. , .l'
Cash paid br d$d€rds
tl.t
""sn
li's-JElllTll l fnancins actirities
Cash balance at beginning of2011
Cash balance at end of 201 1
$: _J.
PRINTED BY [email protected] Printing is for personal, privat.docxChantellPantoja184
PRINTED BY: [email protected] Printing is for personal, private use only. No part of this book may be reproduced or transmitted without publisher's prior permission. Violators will be prosecuted.
ACC201
lO3.4
c. Would tbe choice of one depreciation method over aoother produce a different amount of
cash Ilow for any year'! Why or why not?
d. Assume that Same Day Laundry Services sold the steam press at the end of the third year
for S20,000. Compute the amount of gain or Joss using each depreciation method.
Problem &·21 Computing ami ree~mli"l: units-of-prodtlction depreciation
McNabb Corporation purchased a delivery van for 525,500 in 2012. The firm's financial condi-
tion inunL"diatcly prior to the purchase is sbown in the following horizontal statements model:
fqully
NA
Net Inc. CashRow
+ +
+ Book Value !II Yan
CHECKAGUBES
a. Depreciation Expense. 2012:
81,500
c. Gain on Sale:$l,llOO
lO3
E·
a. COOIIaJ1y A. ~el (nc""",,,:
SZO.oro
c. ConpanV A. Hrghest Boot
Value: S17,750
lO7
CItE RGURES
a. Coal Mine Depletion, Z012:
S280,000
b. Total Natural Resources:
52.971,000
Com. SUe. + HeL Earn.
NA 50,000 NA NA
The van was expected to have a useful life of lSO,OOOmiles and a salvage value of S3,000.
Actual mileage was as follows:
Z012 50,000
2013 70,000
2014 58,000
Req.ired
a. Compute the depttciation Cor each of the three years, ass wninS the use of units-of-production
depreciation.
b. Assume thaI McNabb earns S21,000 of cash revenue during 2012. Record the purchase of
the van and the recognition of the •••.•""ue and the depreciation expense for the lint year in a
financial statements model like the p",-""ding one.
eo Assume that McNabb sold the van at the end of the third year for $4,000. Calculate the
amount of gain or lose from the sate.
Pr.w.. s.2B Determilling tire effect of tleprt!cUmon expeMt! onjilJlUlCillJ statement1
TItn>odiJf eeetllcompanieseach putcbased. machine on January I, 2012, forS54,OOO. Each machine
was expected 10 last Ii>., years or 200,000 ~ Salvage value was estimated to be $4,000. All three
machines "'..., operated rot"50,000 hours in 2012, 55.000 hours in 2013, 40,000 hours in 2014, 44,000
bours in 2015. and ll.OOObours in 2016. Each of the three companies earned S30,OOOof cash revenue
during each of the fM ~ Company A uses straight·line depreciation. company B uses double-
dedining-balanc:e depr!Ciation. and company C uses wUts·oj'·production depreciation.
Rtq.ired
Ansv.-er eacb of the fobing que..tians. Ignore the effects of income taxes.
a. Wbich compall)' will report the bighest amount of net income for 2012?
b. Wbich compilll)' will report the 1~1 amount of net income for 2014?
c. 'IV'hich compan>' will report the highest book value on the December 31, 2014, balance sheet?
d. Which rompany ",ill repert tbe highesr amoum of retained earnings on the December 31,
201 S. balance ~
c. W"hicb company will report the lowesl amount of cash 110w from operating activities on the
2014 statement of cas.
Insert Your Last Name, First InitialSPHE 314 Exercise Physiolog.docxjaggernaoma
Insert Your Last Name, First Initial
SPHE 314: Exercise Physiology
1
Essay Submission Assignment #1
1. Discuss the relationship between distribution of muscle fiber type and performance. How might exercise training modify or change a person’s fiber-type distribution?
2. Describe the mechanisms by which muscle glycogen is broken down to glucose for use in glycolysis.
3. Describe how a nerve impulse is transmitted along its axon.
4. What are two advantages of fat over carbohydrate for fuel storage in the body?
5. Describe the primary structure of the heart and the primary functions of blood.
Instructions
Chart of AccountsAsset AccountsLiability AccountsEquity AccountsAcct #Acct #Acct #Cash101Notes Payable201Common Stock301Baking Supplies102Accounts Payable202Dividends302Prepaid Rent103Wages Payable203Prepaid Insurance104Interest Payable 204Baking Equipment105Misc. Supplies106Accounts Receivable107 Accumulated Depreciation108Merchandise Inventory 109Revenue AccountsThis chart of accounts should help you identify the appropriate accounts to record to as you are analyzing and journaling transactions for this workbook. There is nothing to complete on this page; this is simply a resource for you.Acct #Bakery Sales401Merchandise Sales402Expense AccountsAcct #Baking Supplies Expense501Rent Expense502Insurance Expense503Misc. Expense504Business License Expense505Advertising Expense506Wages Expense507Telephone Expense508Interest Expense509Depreciation Expense510Misc. Supplies Expense511Cost of Goods Sold512
Step 1 July JournalPeyton ApprovedGeneral Journal Entries Jul-14DateAccountsDebitCredit1-JulCash15,000.00 Common Stock15,000.00Contributed cash for common stock1-JulBaking Suppllies 8,500.00 Vendor8,500.00To record Baking Supplies purchased 3-JulCash 10,000.00 Notes Payable 10,000.00To record loan from parents 7-JulLease Expense Advance1,500.00 Cash1,500.003,000.00To Record Lease Agreements10-JulBusiness License 375.00 Cash 375.00To record Buisness License11-JulMiscellaneous Expense250.00 Cash250.00To record cash resgister 13-JulBaking Equipment 5,000.00 Common Stock5,000.0013-JulAdvertising Expense200.00 Cash200.0014-JulMiscellaneous Supplies300.00 Cash300.0015-JulNo Entry Required 30-JulTelephone Expenses45.00 Accounts Payable 45.0031-JulPrepaid Insurance1,200.00 Cash1,200.0031-JulCash 10,000.00Accounts Receivable 5,000.00 Bakery Sales15,000.00
Step 2 August JournalPeyton ApprovedGeneral Journal Entries Aug-14DateAccountsDebitCredit31-JulWages Expense120.00 Wages Payable 120.008-AugCash3,200.00 Accounts Receivable 3,200.0010-AugTelephone Expense 45.00 Cash 45.0015-AugBaking Supplies 5,000.00 Accounts Payables 5,000.0015-AugWages Expense 480.00 Wages Payable 480.0015-AugRent Expense 1,500.00 Cash 1,500.0018-AugCash 1,000.00 Accounts Receivables1,000.0020-AugAccounts Payables 8,500.00 Cash8,500.0020-AugWages Expense480.00 Ca.
Final Essay ExamGEOL 108For this final essay exam you are re.docxmydrynan
Final Essay Exam
GEOL 108
For this final essay exam you are required to answer all five (5) of the questions. Although there is no set word limit for these essay questions, you will be greaded on your knowledge of the material and the detail with which you write your answers. You should take care to cite your sources in APA format and provide full references in a Works Cited list.
1. Describe the paths of water through the hydrologic cycle. Explain the processes and the energy gains and losses involved in the changes of water between its 3 states. Operationally, we often most concerned with water does when it reaches the solid earth, both on the surface and in the sub-surface. Explain the relationship between the saturated zone, the water table, a ground water well and the cone of depression, all within the sub-surface.
2. The food chain is a valuable concept in biogeography. Give an example of a specific food chain, labeling the various levels of the food chain. After looking at characteristics of food chains, explain how a geographer’s approach to the study of organisms might be different than biologist’s study of organisms; what would each try to emphasize more than the other? What exactly is a biome? Compare/contrast the concept of the biome with that of the zoogeographic region. Compare/contrast the floral characteristics of 2 of the following biomes: Desert, Tundra, Midlatitude Grassland and Boreal Forest.
3. Theorize the difference in soil development in adjoining soils developed on forested, sloped area versus a grassed flat area. What are the soil-forming factors? Explain the importance of the nature of the parent material to soil formation and type. Then, cite at least 2 examples in which the influence of parent materials might be outweighed by other soil-forming factors. Explain the “struggle” between the internal and external processes in shaping the Earth’s surface. What are the different ways that the surface of the Earth is changed over time?
4. Describe the general sequence of events in continental drift since the time of 5 separate continents 450 million years ago. What is the difference between the older continental drift theory by Wegener and the more recent plate tectonic theory? Plate tectonics theory explains many seemingly unrelated phenomena. Explain how the patterns of volcanoes and earthquakes related to plate tectonics. Explain several pieces of evidence that combine to make the theory of plate tectonics the one that is generally accepted.
5. Provide a reason why some scientists believe the Pleistocene is over and a reason why other scientists believe we are now in an interglacial stage. Some believe, for example, that since areas of pack ice and glacial ice still exist we are still in an ice age. Others, on the other hand, seeing the rapid retreat of ice and snow pack in many areas, believes that this period of glaciation has ended. So, using some other justifications, why do we see some differences in int ...
1. What are the four basic financial statements and what can you l.docxjackiewalcutt
1. What are the four basic financial statements and what can you learn about a company from each one? (Don't tell us what is on each statement but rather what can you learn by analyzing the statements)
2. Discuss the general factors that influence the quality of a company's reported earnings and its balance sheet.
Problem 2
Balance Sheet(walmart)
Total assets $10,000,000
Accounts payable $ 2,000,000
Notes payable (8%) 1,000,000
Bonds (10%) 3,000,000
Common stock at par 1,000,000 Contributed capital in excess of par 500,000
Retained earnings 2,500,000
Total liabilities and stockholders' equity $10,000,000
Question-
Compute the return on stockholders' equity if (walmart) has sales of $20 million and the following net profit margin: and show ALL work
a. 3 percent
b. 5 percent
Insurance planning
1-Discuss the problem of moral hazard. How does the insurance company manage this?
Give examples
2-Discuss the concept of income replacement in determining an insurance need
give examples
Question 1
A life insurance policy is a contract governed by federal law.
True
False
2.5 points
Question 2
The principal economic purpose of life insurance is to accumulate capital.
True or False
Question 3
Life issurance is essentially an investment vehicle that ensures a desired wealth accumulation by the time of death, regardless when death occurs.
True
False
2.5 points
Question 4
The income replacement approach assumes the insurance should be equal to the value of the person's future earnings potential to the surviving family members.
True
False
2.5 points
Question 5
Insurance companies base their mortality assumptions on
the experience of large groups of people
published mortality results of other large life insurance companies
federally mandated mortality tables published by the Treasury Department
the individual assumptions made by actuaries employed by the company
2.5 points
Question 6
The "multiples-of-salary" method of estimating the amount of a family's insurance needs is
a rule of thumb method that determines insurance needs by looking at the number of children in the family
a method that was repealed by the Taxpayer Relief Act of 1997
a method combining a simple rule of thumb method with elements of income replacement and needs analysis
a method that can be used only by individuals who are properly licensed with the FAA
2.5 points
Question 7
The income replacement approach to determining a family's insurance needs is based primarily on?
the earnings growth rate of long-term U.S. Treasury securities
regulations issued by the Department of Health and Human Services
the current balance in the accumulated adjustment account
the human life value concept
2.5 points
Question 8
All of the following are primary life insurance planning areas, except
income replacement and family needs
portfolio value and allocation of assets between debt and equ ...
1nilB CHAPfER 12HOI\4EWORK
@l
CHAPTER T2 HOMEWORK
B.
Prablem 12-lA Statenent of cash flows (indirect method) L.O. 41 . Pl. P2, P3
Kazaam Company, a marchandiser, recenty comdeled its calendar-year2011 operations. For the year, (1)
all sales are credit sales, (2) all credits to Accounts Receisbla roftect cash receipts f,om custonrers, (3) all
prrchases of in\entory ara on cr€dit, (4) all debits to AccorJnts Payable relect cash payments for in/entory,
and (5) Other Expensas are paid in adwrne and are initially dabitad to Pnpaid Exponser. The company's
balance sheets ard income stat€ment blb\,-
KAZAAM COMPAI,IY
Comparatir,e B alarrco Sheets
December 31, 2011 and 2010
2011 2010
$ 49,800 S 73,500
65,880 57,000
277,AOO 251,000
1,250 1,800
158,500 106,500
(35,875) (46,000)
s 516,555 $443,800
$ 82,80s S 115,000
11,000 7,000
60,000 48,750
157,500 149,000
25,500 0
179,750 124,050
$ 516,555 $443,800
KAZAAM COMPANY
hcome Statem€nt
For Year Ended D€comber 31, 201 1
As3els
Cash
Accounts recei\EHe
Marchandise insntory
Prepaid expenses
Equipment
Accurn- depreciatN quipi"n€nt
Total asssls
LiabilitieBend Equity
Accounts payabb
Short-term notes payable
Lorp-term notes payable
C,ommon stock, $5 par raalue
Paid-in capital in excess ofpar, cornmon stock
R€tain€d eamings
Total liabilities and Gquity
Sales
Cost of goods sold
Gross profit
Operating exp€nses
Depreciatbn exp€nse
Other expnses
Other gains (losses)
Loss on sale of€quipmant
tr|come bebfe taxes
tlcome taxes expanse
Itlet incorns
s 583,000
286,000
297,000
$ 20,000
134,000 154,0m
137,500
25,500
5,500
$ 1 12,000
l- _ __._, , -----,.__.- * - ,__., .-._-::::-:a
Addllional hformafon on Yegr 2A11 Tnnsctions
a. The loss on the cash sal€ of equiprylent was $5,50O (details in b).
b, Sold equiprnent costing $47,250, with accumulated depreciation of$30,125, for 911,625 cash.
c. Purchasod equipment costing $99,250 by paying $25,[email protected] cash and signing a long.term note payable br
the balance-
d. Borroued $4,000 cash by silnirE a short-t€rm note payabl€.
e. Paid $63,@0 cesh to reducethe longiterm notes payabks.
f. lssued 1,700 shar6 of cornmon stock br $20 cash per share.
g. Daclarcd and paid cash dillderfrs of $ffi,300.
Required:
1. Prcpare a compl€te statefitsnt of cash florvs; repon [s op€rating actirities using the indirect meth(/,.
(Amounb to be deducted should be indicated with a minus sign. Omit the "3" sign in your
response.)
KAZAAM COMPANY
Statement of Cash Flom
1t2
1nu13 CHAPTER 12HOMEWCIRK
For Year Ended December 31, 201 1
fana- frs
Cash forvs fiom operating actirities
itbtincdns, '...,.., .,.. i .,, , 1v
Adiustments to reconcile net income to net
rua
"on llGE-l]]]lil incstins activties
Cash f,orls ftom fnancino actirities
Cashbaid dl nde: .lw
Ca*h'fioriorivedottshrt4eifi rde : r ..'ly
C'6h frorni63drEstsf. , .l'
Cash paid br d$d€rds
tl.t
""sn
li's-JElllTll l fnancins actirities
Cash balance at beginning of2011
Cash balance at end of 201 1
$: _J.
PRINTED BY [email protected] Printing is for personal, privat.docxChantellPantoja184
PRINTED BY: [email protected] Printing is for personal, private use only. No part of this book may be reproduced or transmitted without publisher's prior permission. Violators will be prosecuted.
ACC201
lO3.4
c. Would tbe choice of one depreciation method over aoother produce a different amount of
cash Ilow for any year'! Why or why not?
d. Assume that Same Day Laundry Services sold the steam press at the end of the third year
for S20,000. Compute the amount of gain or Joss using each depreciation method.
Problem &·21 Computing ami ree~mli"l: units-of-prodtlction depreciation
McNabb Corporation purchased a delivery van for 525,500 in 2012. The firm's financial condi-
tion inunL"diatcly prior to the purchase is sbown in the following horizontal statements model:
fqully
NA
Net Inc. CashRow
+ +
+ Book Value !II Yan
CHECKAGUBES
a. Depreciation Expense. 2012:
81,500
c. Gain on Sale:$l,llOO
lO3
E·
a. COOIIaJ1y A. ~el (nc""",,,:
SZO.oro
c. ConpanV A. Hrghest Boot
Value: S17,750
lO7
CItE RGURES
a. Coal Mine Depletion, Z012:
S280,000
b. Total Natural Resources:
52.971,000
Com. SUe. + HeL Earn.
NA 50,000 NA NA
The van was expected to have a useful life of lSO,OOOmiles and a salvage value of S3,000.
Actual mileage was as follows:
Z012 50,000
2013 70,000
2014 58,000
Req.ired
a. Compute the depttciation Cor each of the three years, ass wninS the use of units-of-production
depreciation.
b. Assume thaI McNabb earns S21,000 of cash revenue during 2012. Record the purchase of
the van and the recognition of the •••.•""ue and the depreciation expense for the lint year in a
financial statements model like the p",-""ding one.
eo Assume that McNabb sold the van at the end of the third year for $4,000. Calculate the
amount of gain or lose from the sate.
Pr.w.. s.2B Determilling tire effect of tleprt!cUmon expeMt! onjilJlUlCillJ statement1
TItn>odiJf eeetllcompanieseach putcbased. machine on January I, 2012, forS54,OOO. Each machine
was expected 10 last Ii>., years or 200,000 ~ Salvage value was estimated to be $4,000. All three
machines "'..., operated rot"50,000 hours in 2012, 55.000 hours in 2013, 40,000 hours in 2014, 44,000
bours in 2015. and ll.OOObours in 2016. Each of the three companies earned S30,OOOof cash revenue
during each of the fM ~ Company A uses straight·line depreciation. company B uses double-
dedining-balanc:e depr!Ciation. and company C uses wUts·oj'·production depreciation.
Rtq.ired
Ansv.-er eacb of the fobing que..tians. Ignore the effects of income taxes.
a. Wbich compall)' will report the bighest amount of net income for 2012?
b. Wbich compilll)' will report the 1~1 amount of net income for 2014?
c. 'IV'hich compan>' will report the highest book value on the December 31, 2014, balance sheet?
d. Which rompany ",ill repert tbe highesr amoum of retained earnings on the December 31,
201 S. balance ~
c. W"hicb company will report the lowesl amount of cash 110w from operating activities on the
2014 statement of cas.
Insert Your Last Name, First InitialSPHE 314 Exercise Physiolog.docxjaggernaoma
Insert Your Last Name, First Initial
SPHE 314: Exercise Physiology
1
Essay Submission Assignment #1
1. Discuss the relationship between distribution of muscle fiber type and performance. How might exercise training modify or change a person’s fiber-type distribution?
2. Describe the mechanisms by which muscle glycogen is broken down to glucose for use in glycolysis.
3. Describe how a nerve impulse is transmitted along its axon.
4. What are two advantages of fat over carbohydrate for fuel storage in the body?
5. Describe the primary structure of the heart and the primary functions of blood.
Instructions
Chart of AccountsAsset AccountsLiability AccountsEquity AccountsAcct #Acct #Acct #Cash101Notes Payable201Common Stock301Baking Supplies102Accounts Payable202Dividends302Prepaid Rent103Wages Payable203Prepaid Insurance104Interest Payable 204Baking Equipment105Misc. Supplies106Accounts Receivable107 Accumulated Depreciation108Merchandise Inventory 109Revenue AccountsThis chart of accounts should help you identify the appropriate accounts to record to as you are analyzing and journaling transactions for this workbook. There is nothing to complete on this page; this is simply a resource for you.Acct #Bakery Sales401Merchandise Sales402Expense AccountsAcct #Baking Supplies Expense501Rent Expense502Insurance Expense503Misc. Expense504Business License Expense505Advertising Expense506Wages Expense507Telephone Expense508Interest Expense509Depreciation Expense510Misc. Supplies Expense511Cost of Goods Sold512
Step 1 July JournalPeyton ApprovedGeneral Journal Entries Jul-14DateAccountsDebitCredit1-JulCash15,000.00 Common Stock15,000.00Contributed cash for common stock1-JulBaking Suppllies 8,500.00 Vendor8,500.00To record Baking Supplies purchased 3-JulCash 10,000.00 Notes Payable 10,000.00To record loan from parents 7-JulLease Expense Advance1,500.00 Cash1,500.003,000.00To Record Lease Agreements10-JulBusiness License 375.00 Cash 375.00To record Buisness License11-JulMiscellaneous Expense250.00 Cash250.00To record cash resgister 13-JulBaking Equipment 5,000.00 Common Stock5,000.0013-JulAdvertising Expense200.00 Cash200.0014-JulMiscellaneous Supplies300.00 Cash300.0015-JulNo Entry Required 30-JulTelephone Expenses45.00 Accounts Payable 45.0031-JulPrepaid Insurance1,200.00 Cash1,200.0031-JulCash 10,000.00Accounts Receivable 5,000.00 Bakery Sales15,000.00
Step 2 August JournalPeyton ApprovedGeneral Journal Entries Aug-14DateAccountsDebitCredit31-JulWages Expense120.00 Wages Payable 120.008-AugCash3,200.00 Accounts Receivable 3,200.0010-AugTelephone Expense 45.00 Cash 45.0015-AugBaking Supplies 5,000.00 Accounts Payables 5,000.0015-AugWages Expense 480.00 Wages Payable 480.0015-AugRent Expense 1,500.00 Cash 1,500.0018-AugCash 1,000.00 Accounts Receivables1,000.0020-AugAccounts Payables 8,500.00 Cash8,500.0020-AugWages Expense480.00 Ca.
How to Split Bills in the Odoo 17 POS ModuleCeline George
Bills have a main role in point of sale procedure. It will help to track sales, handling payments and giving receipts to customers. Bill splitting also has an important role in POS. For example, If some friends come together for dinner and if they want to divide the bill then it is possible by POS bill splitting. This slide will show how to split bills in odoo 17 POS.
Palestine last event orientationfvgnh .pptxRaedMohamed3
An EFL lesson about the current events in Palestine. It is intended to be for intermediate students who wish to increase their listening skills through a short lesson in power point.
Instructions for Submissions thorugh G- Classroom.pptxJheel Barad
This presentation provides a briefing on how to upload submissions and documents in Google Classroom. It was prepared as part of an orientation for new Sainik School in-service teacher trainees. As a training officer, my goal is to ensure that you are comfortable and proficient with this essential tool for managing assignments and fostering student engagement.
The French Revolution, which began in 1789, was a period of radical social and political upheaval in France. It marked the decline of absolute monarchies, the rise of secular and democratic republics, and the eventual rise of Napoleon Bonaparte. This revolutionary period is crucial in understanding the transition from feudalism to modernity in Europe.
For more information, visit-www.vavaclasses.com
Synthetic Fiber Construction in lab .pptxPavel ( NSTU)
Synthetic fiber production is a fascinating and complex field that blends chemistry, engineering, and environmental science. By understanding these aspects, students can gain a comprehensive view of synthetic fiber production, its impact on society and the environment, and the potential for future innovations. Synthetic fibers play a crucial role in modern society, impacting various aspects of daily life, industry, and the environment. ynthetic fibers are integral to modern life, offering a range of benefits from cost-effectiveness and versatility to innovative applications and performance characteristics. While they pose environmental challenges, ongoing research and development aim to create more sustainable and eco-friendly alternatives. Understanding the importance of synthetic fibers helps in appreciating their role in the economy, industry, and daily life, while also emphasizing the need for sustainable practices and innovation.
2024.06.01 Introducing a competency framework for languag learning materials ...Sandy Millin
http://sandymillin.wordpress.com/iateflwebinar2024
Published classroom materials form the basis of syllabuses, drive teacher professional development, and have a potentially huge influence on learners, teachers and education systems. All teachers also create their own materials, whether a few sentences on a blackboard, a highly-structured fully-realised online course, or anything in between. Despite this, the knowledge and skills needed to create effective language learning materials are rarely part of teacher training, and are mostly learnt by trial and error.
Knowledge and skills frameworks, generally called competency frameworks, for ELT teachers, trainers and managers have existed for a few years now. However, until I created one for my MA dissertation, there wasn’t one drawing together what we need to know and do to be able to effectively produce language learning materials.
This webinar will introduce you to my framework, highlighting the key competencies I identified from my research. It will also show how anybody involved in language teaching (any language, not just English!), teacher training, managing schools or developing language learning materials can benefit from using the framework.
Model Attribute Check Company Auto PropertyCeline George
In Odoo, the multi-company feature allows you to manage multiple companies within a single Odoo database instance. Each company can have its own configurations while still sharing common resources such as products, customers, and suppliers.
2. Intr
duction
• F H'tU flccount1ng 01
accounti11
g practices
ccotu1ru1g
to
lislu.·Lie-,
fol fi hery forn1s js the application of
ope1uion-.. In iect-nt ) e.u-.. con unt•tcinl
fonning ha...been engaging the· tttention ol nrnny and as a u.·..uJLa ntuubc1of
fount LS arc coining up. Corpotttc cntitic
buiness in a big way.
arc entcri11
g into the fiunung
• The exch:u1gc transaction , in the n:ttu1c: of baner, for cx1. .mplt . cxclrnngc of nnin1al
labour fc>l hun1an lnbou1, exchnnge of seeds for output, etc. :ue. 1101n1:llly
1eco1ded at oppo1 n1nity co"t - the p1ice in che open 1na1ket.
3. J n t..
l otional transactions are tho ·e that take place bet·
een the
rncmber of the o·ncr' family and the farin, ''"
ic•ing the f:.nn a
an independen t enuty notionally. ....ome example'i of uch
transact.ion are: u ·e of hou sehokl c<tpital u ·e of land O'ned by
the farm hou chold, labou r pro,-idcd by members of the family,
consu mption of output by the family etc.
4. l)r fitabilit)1 of rop..:
• The performance of each crop "hall be found out ·epara tely. The direct co
t clearly identi fiable 'Vi t h a crop shall be charged
accordingly.
• The com1non cost hould be .uitably allocated on ome accepted
ba"is, For in tance, deprecia tion or rep1'lirs can be di·ided on the
b,t'is of estimation of u"agc by different crop . Intere't on fL cd loan
can be diYided on the ba' i' of lengt h of crop ()Ca on etc.
5. 'l'hc ba ic document needed
recorded in chronological order:
i farm diary, where tran action arc
(1) Ca h book: As the bu .U1co;; it:. Gu ricd on by faanilics it n1ay not lrnxc
tiu1c
!'Ind f C')Otuces for an ("laborntc r tcn1. The butll<'SS is inostly caui<>d on cnsh
bnsis :lnci therefoH'. by p10,·iding analy t ical colu11111 in the c.!lsh book, bot h
on receipts. and payrucnts "tdc, thC'!tccot111Ling C:ln be 1nndc "cry itnplc.
•i11alytical coltu1111 ca-.h book will help che fa1111e1 co do awa) w1cl1 ocher
ubsidiar y books and also thl· ledger and yet he will obtrun all the
info1111ation. he need lo prcp:11c the tinnl account .
6. Double Co lumn - Cash Book
-- O.bit Ii.:. " '•dit
. -
·
- ..
···
..,.. •... ]E-
E-1
]
£..--;"!....., ·
I·
·..·· l!"T"-.
,
l
-Jun-19 To Capltal Ne $1
00.000 $1
00,000 2
·
un-19 Sy Advertisement Ne $500
9--Jun-19 To Sale Ne SlS,000 4·JUn·l9 Sv Purch.llse A/e S1
0.
ooo
1.S-Jun-
19
To Mr.C A/e SU,000 4-1un-19 8v SUtk>nervA/e ssso
21
·
Jun-1
9 To S.nk A/c c SlS,000 1
0.Jun-1
9 Sy Office upen5Ale $200
1
8-Jun-19 Sy Purchase Ne $1
0,000
21 JIJn-19 8y ysh A/r; c SlS,000
30-Jun·t9 Sv Rent A/e $7.SOO
30-Jun-1
9 sv Salarv Ale $1
7,000
30-fon-19 8v 6al. c/d $1
02,250 $78.000
$130.000 $1
11.
000 $13
0,
000 $111
,000
1
-Jul-1
9 8y Bal. b/d $102.25() $78.
000
7. nt..
(2) Debtoi.s and C1t"dit o r Regi,cer, to keep Ctt'dit trnns:ictions.
(1) lock Rt g i cer,,
,·
hich shows input and oncpuc of good . sale. ,,.,, tagc nud
balance ol tock.
f4) ..ix
. ed A -.er Regi tei: contnu1' details of co t of as eL , dep1eciation and
b.tlnucc of a seb.
8. nt..
(5) Lo:1n Rt:"gi ter, c o n t ins 1ecotd o f J
onn..,, dernils of jn re1esr t-tc.
(6) Regisct"r fo1 • ·ocionnl Trnnsnctious io1 1
naking n 1eco1d of tran act1o n
bclwccn Guu1nud hu n1 housd1old.
(i) C o l Jn:tlp-1 tegi te1 io 1 keeping 1eco1ds of each founi.ng acci, icy
, in 01de1
co kilo' the p 10Gt of each gccj,·
ity.
9. t and l cvcnue:
Co t
'1he wocd co ls me lll" e.xp<"n<.follte. ll cC'frc to the monc.-y speuc 011 an it<'lll or fo1 2 "pecific
purr><>'e
or c u-;c
' pit. lco t
•1t r('fers to the ('XpC"nditure incucrt'd on land, bmldmg , ''C'hicks, m:tchint'ries and C'quipmt'nt-., f:um
or fum i..lliralrUctUtt, etc.
•ui,,blc co l
•It j tht'. (;0 C UlCUt1ed Oll an item or input '}uch '"1Uic With thC' lc.-'t•l of Output.
•lanur(', Lime, lt"ttilizt"r, feed, co't of fu1gediug,, fuel, po·er, "age , etc.:Ut" e.x mple of omc
item-. of ' ariablc co l"
10. Fixed Cost
• It is tlh.e cost incurred on an item which does not vary with the level of output.
• It consists of the following five co1
nponents.
• (i) Depreciation
• (ii) In terest on capital
• (iii) Repairs and Maintenance
• (iv) Taxes
• (v) Insurance premium
• The components are denoted as DIRT ! - 5.
11. Cont..
Total cost
•It is tlfie sum of variable and fixed costs.
Junk cost
•It is tlb.e value of an ite1n which has become unfit for use due to wear and tear.
Average cost
•It is total cost divided by total output. It gives the mean cost of producing one unit of the
output.
12. Cont..
Marginal cost
• It is the cost incurred on one more or additional unit of the product.
Opportunity cost
• It is the next best alternative foregone.
13. Fixed, Variable & Total cost calculation for a fish farm
S o u r c e : P r i m a r y D a ta , 2 0 1 7
Variable Cost Structure Tota l Cost
1Year
Tota l Cost 1Cycle
Shri mp Fry 1.9.857.707 6.6 19.236
Adj uvant
a. Feed 130,70 1,000 43.567.000
b. Probiotics 3. 177.5 15 1 .059, 172
c. Ferti l izer· 2.276.5 15 758.838
d. Chal k 32.75 1.700 10.9 17,233
Labor 3 1 .777,45 1 10,592,484
Oil 8.432.353 2,8 10,784
Diesel Fuel 70.183.000 23.394.333
Electricity 26.078.43 I 8.692.8 1 0
1-{a rvcstirng Cost 1 2,894, 1 18 4,298.039
Bon us 6.557.800 2. 185,933
Total 344,687,590 114,895,863
Fiixed Cost Deta i ls Tota l Cost in 1Year Tota l Cost in 1Cycle
Cost of Deprecia ti on 12,97 1 ,0 14 4.323,67 1
Other Costs 6.548.544 2. 182.848
a. Tool Repair 5.192.006 1,730,669
b. Thanksgiving Feast 516.667 172.222
c. La nd Tax 839,87 1 279,957
Tota.I 19,519,558 6,506,519
14. Revenue/ Income:
• It refers to the sale proceeds of a farmer or firm. There could be many sources of income,
apart from the sale proceeds from the products manufactured by a firm.
• Generally income or Total Income of a farm is obtained as follows:
• Total Income = Total Yield (kg) x Unit price
(Rs/per unit of output) Total
Income-Total Cost
• Net In come
• Marginal income is the income obtained from one additional unit of the output.
15. Preparation of Final Accounts:
• Fa.rm final accounts can be p.repa.red according to any of the following two methods:
• 1. Single Entry Method.
• 2. Double Entry Method.
16. Single Entry Method:
• This rnethod does not require maintenance of an elaborate system of
accounting to ascertain the pi:ofit or loss and financial position of the business.
The method requires the prepai:ation of two statements of affaii:s one at the
beginning of the accounting period and the other at the end of the accounting
period.
• The excess of assets over liabilities is the net-worth of the business. The profit
or loss 1nade by the business during a period can be ascertained by comparing the
net-worth of the business on two dates, after 1naki.ng suitable adjustments for
drawings, introduction of additional capital etc.
17. 1 A p r i l 2 0 1 9 S t a r t i n g B a l a n c e f o r W e e k $ 5,0 0 0 .0 0
2 A p r i l 2 0 1 9 In v e n t o r y P u r c h a s e $ 1 4 7 .2 7
3 A p r i l 2 0 1 9 R e n t P a y m e n t $ 2 , 2 5 0 .0 0
5 A p r i l 2 0 1 9 W e e k ly Servic e R e v e n u e s $ 4 , 2 5 2.4 5
6 A p r i l 2 0 1 9 C u s t o m e r R e f u n d P a id $ 7 5 .0 0
7 A p r i l 2 0 1 9 A c c t . In t e r e s t R e c e iv e d $ 8 9 .0 0
7 A p r i l 2 0 1 9 C lo s i n g B a la n c e f o r W e e k $ 6 , 6 9 1 .8 1
18. Double Entry Method:
• Accounting information contained in the accounting records may be presented in the form
of an account for each type of product, for example, Cat fish Account, Shr.imp Account
etc. Each Account is to be debited with opening stock, and the relevant expenses
incurred, and the relevant expenses incurred, and credited with the sale proceeds and the
closing stock.
• The difference between the two sides of each account shows profit or loss. The profit
or loss of each such account is transferred to General Profit and Loss Account, to which
common expenses of all the activities of the farm are chru:ged so as to arrive at net profit or
loss, to be transferred to Capital Account. Finally, Balance Sheet is prepared.
19. 06101 Starting balance for the
we k
$ 5000.00
06102 Rent $1000.00 $ 4000.00
06103 Invoice paid: Excel
Technologies Ltd
$ 500.00 $ 4500.00
06104 Supplies Furniture $1500.00 $ 3000.00
06107 Ending balance $ 3000.00
20. SINGLE ENTRY V/S DOUBLE ENTRY
-- -
Sing_
le I
En t 1
r y' S ystem
D o u ble I
En tr·
y S y s te ,
m I
o It is a m ixture of double entry, one
entry and n o entry
o No subsid iary books, except cash book
is maintained
o Ledger conta ins persona l accounts only
o Preparat ion Tria l Bala nce is not possi
ble
o Only rough estimates of profit or loss
statement of aff airs is ma de
o Bot h debit and credit aspects of all tra
nsactions a re recorded
o Various subsidiary books a re mainta ined
o Ledger contains personal, rea l a nd nom
in al accoun ts
o 'P,repa ration Tria l Bala nce is possible
o Trial Ba lance, Profit/Loss A/c a nd Bala
nce Sheet are
pre pa red 1in a scientific ma nner