Vinson Company has the following post-closing trial balance on Decemb.pdf
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Vinson Company provided its post-closing trial balance for December 31, 2024 and budgeting information for the first quarter of 2025. It pays 70% of direct materials purchases in the quarter purchased and 30% in the next quarter. It pays direct labor, overhead, selling, administrative costs, and taxes in the quarter incurred. It also pays accounts payable balances from December 31, 2024 in the first quarter of 2025. The requirements are to prepare Vinson's budgeted income statement for Q1 2025 and its budgeted balance sheet as of March 31, 2025.
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This document contains an examination for a Principles of Accounting course, with 5 questions testing various accounting concepts and calculations. Question 1 provides trial balance data and asks to prepare financial statements. Question 2 covers bank reconciliation and adjusting entries. Question 3 tests dividend accounting and calculations. Question 4 asks to prepare income statements under different inventory methods and discuss the results. Question 5 defines various accounting terms. The examination is 3 hours long and worth a total of 100 marks.
Homework 7 instructions help[The following informati.docx
Homework 7 instructions | help
[The following information applies to the questions displayed below.]
Near the end of 2013, the management of Dimsdale Sports Co., a merchandising company, prepared the
following estimated balance sheet for December 31, 2013.
DIMSDALE SPORTS COMPANY
Estimated Balance Sheet
December 31, 2013
Assets
Cash $ 36,500
Accounts receivable 520,000
Inventory 105,000
Total current assets 661,500
Equipment $ 545,000
Less accumulated depreciation 68,125
Equipment, net 476,875
Total assets $ 1,138,375
Liabilities and Equity
Accounts payable $ 370,000
Bank loan payable 14,000
Taxes payable (due 3/15/2014) 90,000
Total liabilities $ 474,000
Common stock 471,000
Retained earnings 193,375
Total stockholders’ equity 664,375
Total liabilities and equity $ 1,138,375
To prepare a master budget for January, February, and March of 2014, management gathers the following
information.
a. Dimsdale Sports’ single product is purchased for $20 per unit and resold for $53 per unit. The
expected inventory level of 5,250 units on December 31, 2013, is more than management’s desired
level for 2014, which is 20% of the next month’s expected sales (in units). Expected sales are: January,
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b. Cash sales and credit sales represent 20% and 80%, respectively, of total sales. Of the credit sales,
63% is collected in the first month after the month of sale and 37% in the second month after the
month of sale. For the December 31, 2013, accounts receivable balance, $130,000 is collected in
January and the remaining $390,000 is collected in February.
c. Merchandise purchases are paid for as follows: 20% in the first month after the month of purchase and
80% in the second month after the month of purchase. For the December 31, 2013, accounts payable
balance, $75,000 is paid in January and the remaining $295,000 is paid in February.
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are $72,000 per year.
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being depreciated over eight years under the straight-line method with no salvage value. The following
amounts for new equipment purchases are planned in the coming quarter: January, $36,000; February,
$95,000; and March, $29,000. This equipment will be depreciated under the straight-line method over
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g. The company plans to acquire land at the end of March at.
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Homework 7 instructions help[The following informati.docx
Homework 7 instructions | help
[The following information applies to the questions displayed below.]
Near the end of 2013, the management of Dimsdale Sports Co., a merchandising company, prepared the
following estimated balance sheet for December 31, 2013.
DIMSDALE SPORTS COMPANY
Estimated Balance Sheet
December 31, 2013
Assets
Cash $ 36,500
Accounts receivable 520,000
Inventory 105,000
Total current assets 661,500
Equipment $ 545,000
Less accumulated depreciation 68,125
Equipment, net 476,875
Total assets $ 1,138,375
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Total liabilities $ 474,000
Common stock 471,000
Retained earnings 193,375
Total stockholders’ equity 664,375
Total liabilities and equity $ 1,138,375
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information.
a. Dimsdale Sports’ single product is purchased for $20 per unit and resold for $53 per unit. The
expected inventory level of 5,250 units on December 31, 2013, is more than management’s desired
level for 2014, which is 20% of the next month’s expected sales (in units). Expected sales are: January,
7,250 units; February, 9,250 units; March, 10,500 units; and April, 10,000 units.
b. Cash sales and credit sales represent 20% and 80%, respectively, of total sales. Of the credit sales,
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month of sale. For the December 31, 2013, accounts receivable balance, $130,000 is collected in
January and the remaining $390,000 is collected in February.
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80% in the second month after the month of purchase. For the December 31, 2013, accounts payable
balance, $75,000 is paid in January and the remaining $295,000 is paid in February.
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being depreciated over eight years under the straight-line method with no salvage value. The following
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The list shown above has four data-carrying nodes and the lone sentinel. The empty list has just
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an empty list would have the following object diagram: The class diagram for these classes is as
follows:
We have an abstract class ANode T, which can be either a Sentinel T> node or an actual Node T
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publicly visibly datatype definition. 8.1 Data definitions and examples - Define the classes
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arguments, and initializes the next and prev fields of the Sentinel to the Sentinel itself. - For
Node T, define two constructors: the first one takes just a value of type T, initializes the data
field. The next and prev fields would be nutl. The second convenience constructor should take a
value of type T and two ANode nodes, initialize the data field to the given value, initialize the
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node. Throw an IllegalArgumentException in this constructor if either of the given nodes is null.
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arguments in this constructor! The order should match the class diagram above; getting the order
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Syllabus
Chapter-1
Introduction to objective, scope and outcome the subject
Chapter 2
Introduction: Scope and Specialization of Civil Engineering, Role of civil Engineer in Society, Impact of infrastructural development on economy of country.
Chapter 3
Surveying: Object Principles & Types of Surveying; Site Plans, Plans & Maps; Scales & Unit of different Measurements.
Linear Measurements: Instruments used. Linear Measurement by Tape, Ranging out Survey Lines and overcoming Obstructions; Measurements on sloping ground; Tape corrections, conventional symbols. Angular Measurements: Instruments used; Introduction to Compass Surveying, Bearings and Longitude & Latitude of a Line, Introduction to total station.
Levelling: Instrument used Object of levelling, Methods of levelling in brief, and Contour maps.
Chapter 4
Buildings: Selection of site for Buildings, Layout of Building Plan, Types of buildings, Plinth area, carpet area, floor space index, Introduction to building byelaws, concept of sun light & ventilation. Components of Buildings & their functions, Basic concept of R.C.C., Introduction to types of foundation
Chapter 5
Transportation: Introduction to Transportation Engineering; Traffic and Road Safety: Types and Characteristics of Various Modes of Transportation; Various Road Traffic Signs, Causes of Accidents and Road Safety Measures.
Chapter 6
Environmental Engineering: Environmental Pollution, Environmental Acts and Regulations, Functional Concepts of Ecology, Basics of Species, Biodiversity, Ecosystem, Hydrological Cycle; Chemical Cycles: Carbon, Nitrogen & Phosphorus; Energy Flow in Ecosystems.
Water Pollution: Water Quality standards, Introduction to Treatment & Disposal of Waste Water. Reuse and Saving of Water, Rain Water Harvesting. Solid Waste Management: Classification of Solid Waste, Collection, Transportation and Disposal of Solid. Recycling of Solid Waste: Energy Recovery, Sanitary Landfill, On-Site Sanitation. Air & Noise Pollution: Primary and Secondary air pollutants, Harmful effects of Air Pollution, Control of Air Pollution. . Noise Pollution Harmful Effects of noise pollution, control of noise pollution, Global warming & Climate Change, Ozone depletion, Greenhouse effect
Text Books:
1. Palancharmy, Basic Civil Engineering, McGraw Hill publishers.
2. Satheesh Gopi, Basic Civil Engineering, Pearson Publishers.
3. Ketki Rangwala Dalal, Essentials of Civil Engineering, Charotar Publishing House.
4. BCP, Surveying volume 1
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