Record the following transactions related to purchases for Horston’s Art Supplies using the general journal form provided below. Assume Horston’s uses a periodic inventory system. Omit transaction descriptions from entries.
Date Transaction
Sept. 1 Purchased $8,000 of merchandise on account, FOB destination, n/30.
3 Returned $1,000 of merchandise purchased on September 1 due to defects.
7 Purchased $1,500 of merchandise on account, terms FOB shipping point, 2/10, n/30.
Prepaid freight of $75 was added to the invoice.
14 Paid for the merchandise purchased on September 7, less discount.
20 Paid for merchandise purchased on September 1, less return.

Answer:

Sept. 1

Merchandise $8,000 (debit)

Accounts Payable $8,000 (credit)

Merchandise purchased on credit

Sept. 3

Accounts Payable $1,000 (debit)

Merchandise $1,000 (credit)

Merchandise Returned to Suppliers

Sept. 7

Merchandise $1,500 (debit)

Accounts Payable $1,500 (credit)

Merchandise purchased on credit

Sept. 14

Accounts Payable $1,500 (debit)

Cash $1,470 (credit)

Discount received $30 (credit)

Payment of amounts due and recognition of cash discount

Sept. 20

Accounts Payable $7,000 (debit)

Cash (credit)

Payments of Amount due

Explanation:

Journal Entries and their narrations have been prepared above.

Evan has a bachelor’s degree in ethics and Human Resources and he has extensive experience working with employees and managers regrading ethics especially in the areas of ethical dilemmas in his current position he has assisted extensively in determining if the company decisions are both ethical and lawful. Which position in the company does Evan background make him ideally suited for

The children slept well ____________________ the noise.

On December 31, 2019, Mass Construction Inc. signs a contract with the state of Massachusetts Department of Transportation to manufacture a bridge over the Merrimack. Mass Construction anticipates the construction will take three years. The company's accountants provide the following contract details relating to the project:

Contract price $520 million
Estimated construction costs $300 million
Estimated total profit $220 million

During the three-year construction period, Tri-State incurred costs as follows:

2020 $60 million
2021 $150 million
2022 $90 million

Tri-State uses the percentage of completion method to recognize revenue. Which of the following represent the profits recognized in 2020, 2021, and 2022?

a. $52 million, $312 million, $156 million
b. $12 million, $72 million, $36 million
c. $140 million, $140 million, $140 million
d. $30 million, $180 million, $90 million
e. None of the above

Christiansen Corporation uses an activity-based costing system with the following three activity cost pools: Activity Cost Pool Total Activity Fabrication 70,000 machine-hours Order Processing 500 orders Other Not applicable The Other activity cost pool is used to accumulate costs of idle capacity and organization-sustaining costs. The company has provided the following data concerning its costs: Wages and Salaries $420,000 Depreciation 160,000 Occupancy 200,000 Total $780,000 The distribution of resource consumption across activity cost pools is given below: Activity Cost Pools Fabrication Order Processing Other Total Wages and Salaries 60% 20% 20% 100% Depreciation 5% 60% 35% 100% Occupancy 25% 50% 25% 100%
The activity rate for the Order Processing activity cost pool is closest to:_______.
A. $312 per order
B. $676 per order
C. $780 per order
D. $560 per order

You just deposited $3,000 in a bank account that pays a 4.0% nominal interest rate, compounded quarterly. If you also add another $5,000 to the account one year (4 quarters) from now and another $7,500 to the account two years (8 quarters) from now, how much will be in the account three years (12 quarters) from now

The following selected transactions were completed by Air Systems Company during January of the current year. Air Systems Company uses the periodic inventory system.
Jan. 2 Purchased $18,200 of merchandise on account, FOB shipping point, terms 2/15, n/30.
5 Paid freight of $190 on the January 2 purchase.
6 Returned $2,750 of the merchandise purchased on January 2.
13 Sold merchandise on account, $37,300, FOB destination, 1/10, n/30. The cost of goods sold was $22,400.
15 Paid freight of $215 for the merchandise sold on January 13.
17 Paid for the purchase of January 2 less the return and discount.
23 Received payment on account for the sale of January 13 less the discount.
Journalize the entries to record the transactions of Air Systems Company.

X-Mart uses the perpetual inventory system to account for its merchandise. On May 1, it purchased $400 of merchandise on account with terms of 2/15, n/40. On May 3, X-Mart returned $50 of merchandise due to defect. Assuming that the purchase was paid for within the discount period, demonstrate the required journal entry for X-Mart to record the payment by selecting all of the correct actions below.
A. Credit Purchase Discounts $7.
B. Credit Cash $392.
C. Credit Merchandise Inventory $7.
D. Debit Accounts Payable $350.
E. Credit Cash $343.
F. Debit Merchandise Inventory $7.
G. Credit Accounts Payable $350.

Lovely Lotion Inc. produces three different lotions: hand, body, and foot. The lotions are produced jointly in a mixing process that costs a total of $250 per batch. At the split-off point, one batch produces 80, 40, and 25 bottles of hand, body, and foot lotion, respectively. After the split-off point, hand lotion is sold immediately for $2.50 per bottle. Body lotion is processed further at an additional cost of $0.25 per bottle and then sold for $5.75 per bottle. Foot lotion is processed further at an additional cost of $0.85 per bottle and then sold for $4.00 per bottle. Assume that body and foot lotion could be sold at the split-off point for $3.00 and $3.20 per bottle, respectively.
1. Using the market value at split-off method, allocate the joint costs of production to each product.
2. A lotion manufacturing company produces three types of lotions. After the split-off point the company continues to sell the body lotion and makes $0.25 profit per bottle. The foot lotion generates $0.05 loss per bottle. Which lotion should be continued after the split-off point?
A. Hand lotion.
B. Body lotion.
C. Foot lotion.
D. Body and foot lotion.
3. Allocate the joint costs of production to each product using the net realizable value method.

During the month of September, the Texas Go-Kart Company had the following business activities:
a- On September 1, paid rent on the track facility for six months at a total cost of $13,800.
b. On September 1, received $58,800 for season tickets for 12-month admission to the race track.
c. On September 1, booked the race track for a private organization that will use the track one day per month for $2,500 each time, to be paid in the following month. The organization uses the track on September 30.
d. On September 1, hired a new manager at a monthly salary of $3,400, to be paid the first Monday following the end of the month.
Required: 1. Prepare the journal entry, if any, required to record each of the initial business activities on September
1. (If no entry is required for a transaction/event, select ''No Journal Entry Required'' in the first account field.) Journal Entry Worksheet Record the payment of rent on the track facility for six months at a total cost of $13,800. Transaction General Journal Debit Credit
2. Prepare the adjusting journal entries, if any, required on September 30. (if no entry is required for a transaction/event, select ''No Journal Entry Required'' In the first account field.) Journal Entry Worksheet Record the payment of rent on the track facility for six months at a total cost of $13,800.
Record the adjusting entry for the payment of rent on the track facility for six months at a total cost of $13,800.

when is y'all birthday i'm trying to see if i have the same birthday as somebody

PLS HELP!!!!
1. Based on the profit-loss statement, does Rings and Things have a positive or negative cash flow?
Why?
Based on the profit loss statement rings and things has a negative cash flow because they're not
operating activities is not breaking even and they are losing money.
2. Based on the profit-loss statement, name two ways Janet and Omar can improve their cash flow.
3. Omar and Janet decide to revise their budget for Rings and Things. What suggestions about labor
costs would you make, if the goal is to improve the business's cash flow?
4. Omar and Janet are also trying to forecast what their federal and state income taxes will at the end
of the year. If Rings and Things had a negative cash flow of $150.00 per month from January
through April, but a positive cash flow of $1,000.00 per month (after expenses) from May through
December, on what dollar amount will they determine their income taxes? What expenses could be
used for tax deductions?

If a company sold $1,000 worth of goods in a period, the closing entry for the
revenue accounts would show a
A. $1,000 credit to Sales Expense
B. $1,000 debit to Income Summary
C. $1,000 debit to Sales Revenue
D. $1,000 credit to Sales Revenue

Your monthly mortgage payment on your house is $593.90. It is a 30 year mortgage at 7.8% compounded monthly. How much did you borrow

You are an administrator working for the Maine Department of Environmental Protection, a state administrative agency. You are tasked with implementing a new and controversial pollution control rule. The media will be watching closely to ensure all required procedures are followed. Local citizens are requesting that the rule be implemented immediately and without a hearing because, they argue, the need for controls are so acute. A California environmental group is requesting that you consider the impacts of the rule on their state. A manufacturing lobbyist has asked you to decrease relevant pollution standards in the rule by 90%, even though you have significant evidence that current pollution levels are dangerously high. Assuming that Maine administrative law, including the Administrative Procedure Act, is substantially the same as federal law discussed in this chapter, evaluate your responses to these requests in light of rules you need to follow. You want to avoid having your rule held unlawful and set aside by a court.

Analyzing the effects of transactions on the accounting equation.
On July 1, Alfred Herron established Herron Commercial Appraisal Services, a firm that provides expert commercial appraisals and represents clients in commercial appraisal hearings.
Instructions:
Analyze the following transactions. Record in equation form the changes that occur in assets, liabilities, and owner's equity.
Transactions:
The owner invested $200,000 in cash to begin the business.
Paid $40,500 in cash for the purchase of equipment.
Purchased additional equipment for $30,400 on credit.
Paid $25,000 in cash to creditors.
The owner made an additional investment of $50,000 in cash.
Performed services for $19,500 in cash.
Performed services for $15,600 on account.
Paid $12,000 for rent expense.
Received $11,000 in cash from credit clients.
Paid $15,100 in cash for office supplies.
The owner withdrew $24,000 in cash for personal expenses.
Analyze: What is the ending balance of cash after all transactions have been recorded?

Fidelity Stereo Company has provided the following information regarding its activity-based costing system:Purchasing department costs are allocated based on purchase orders, and the predetermined overhead allocation rate is $77 per purchase order.Assembly department costs are allocated based on the number of parts used, and the predetermined overhead allocation rate is $5 per part.Packaging department costs are allocated based on the number of units produced, and the predetermined overhead allocation rate is $4 per unit produced.Each stereo produced has 50 parts, and the direct materials cost per unit is $70. There are no direct labor costs. Fidelity Stereo has an order for 1200 stereos, which will require 45 purchase orders in all. What is the total cost for the 1200 stereos?a. $392,265b. $303,465c. $388,800d. $307,950

Year1-Year Forward Rate 15.8% 26.4% 37.1% 47.3% 57.4%What would the yield to maturity be on a four-year zero-coupon bond purchased today

PLEASE HELP What platforms do digital media campaigns use to reach customers?

Question 1 options:

Websites


Social Media


Live Chats


All of the Above

The following transactions occurred during a recent year:
a. Paid wages of $1,600 for the current period (example).
b. Borrowed $8,000 cash from local bank using a short-term note.
c. Purchased $3,200 of equipment on credit.
d. Earned $640 of sales revenue; collected cash.
e. Received $1,280 of utilities services, on credit.
f. Earned $2,700 of service revenue, on credit.
g. Paid $480 cash on account to a supplier.
h. Incurred $110 of travel expenses; paid cash.
i. Earned $640 of service revenue; collected half in cash, with balance on credit.
j. Collected $180 cash from customers on account.
k. Incurred $460 of advertising costs; paid half in cash, with balance on credit.
Required:
1. For each of the transactions, complete the table below, indicating the account, amount, and direction of the effect (+ for increase and - for decrease) of each transaction under the accrual basis. Include revenues and expenses as subcategories of stockholders' equity, as shown for the first transaction, which is provided as an example.
Assets = Liabilities + Stockholders' Equity
a Cash (1,600) Salaries & wages expense (1,600)
b Cash 8,000 Notes Payable (short-term) 8,000
c Equipment 3,200 Accounts Payable 3,200
d Cash 640 Sales revenue 640
e Accounts Payable 1,280 Utilities expense (1,280)
f Accounts Receivable 2,700 Service revenue 2,700
g Cash (480) Accounts Payable (480)
h Cash (110) Travel expense (110)
i Cash 320
Accounts Receivable 320 Service revenue 640
j Cash 180
Accounts Receivable (180)
k Cash (230) Accounts Payable 230 Advertising expense (460)
2. Determine the company's preliminary net income.

On June 3, Sweet Company sold to Chester Company merchandise having a sale price of $4,600 with terms of 2/10, n/60, f.o.b. shipping point. An invoice totaling $93, terms n/30, was received by Chester on June 8 from John Booth Transport Service for the freight cost. On June 12, the company received a check for the balance due from Chester Company.
Prepare journal entries on the Sweet Company books to record all the events noted above under each of the following bases.
(1) Sales and receivables are entered at gross selling price.
(2) Sales and receivables are entered at net of cash discounts.

Explain the manufacturing sector

Marin Company produces two software products (Cloud-X and Cloud-Y) in two separate departments (A and B). These products are highly regarded network maintenance programs. Cloud-X is used for small networks and Cloud-Y is used for large networks. Marin is known for the quality of its products and its ability to meet dates promised for software upgrades. Department A produces Cloud-X, and department B produces Cloud-Y. The production departments are supported by two support departments, systems design and programming services. The sources and uses of the support department time are summarized as follows:_______.
To Total
Department Department Labor
From Design Programming A B Hours
Design - 5,000 1,000 9,000 15,000
Programming 400 - 600 1,000 2,000
The costs in the two service departments are as follows:_______.
Design Programming
Labor and materials (all variable) $ 50,000 $ 36,000
Depreciation and other fixed costs 40,000 4,000
Total $ 90,000 $ 40,000
Required:1. Determine the total support costs allocated to each of the producing departments using (a) the direct method, (b) the step method (design department goes first), and (c) the reciprocal method? (Do not round intermediate calculations. Round your final answer to nearest whole dollar amount.)2. The company is considering outsourcing programming services to DDB Services Inc. for $52.00 per hour. Should Marin do this?Note: there's 2 requirements , please make sure you do both with explaination :)

As operations manager, you are concerned about being able to meet sales requirements in the coming months. You have just been given the following production report: JAN FEB MAR APR Units produced 2,300 1,800 2,800 3,000 Hours per machine 325 200 400 320 Number of machines 3 5 4 4 Find the average of the monthly productivity figures (units per machine hour). (Do not round intermediate calculations. Round your answer to 2 decimal places.) Average productivity 2.06 correct units per machine hour

A market has 10 sellers. The fifth and seventh in size merge, becoming the largest seller in the market. How can this merger support competition in the market?

For each of the following transactions that occur in their lives, identify whether it is included in the calculation of U.S. GDP as part of consumption (C), investment (I), government purchases (G), exports (X), or imports (M). Check all that apply.Transaction C |I |G| X |M|The Federal Aviation Administration expands the runways at Philadelphia International Airport, which is just a few miles from Antonio and Caroline's house.Dmitri buys a new set of tools to use in his plumbing business.Caroline buys a new BMW, which was assembled in Germany.Antonio's employer assigns him to provide consulting services to an Australian firm that's opening a manufacturing facility in China.Caroline gets a haircut.

The following selected accounts from the Bramble Corp.’s general ledger are presented below for the year ended December 31, 2022:

Advertising expense $54,000 Interest revenue $32,000
Common stock 249,000 Inventory 66,000
Cost of goods sold 1,084,000 Rent revenue 24,000
Depreciation expense 124,000 Retained earnings 534,000
Dividends 149,000 Salaries and wages expense 674,000
Freight-out 24,000 Sales discounts 8,600
Income tax expense 69,000 Sales returns and allowances 43,000
Insurance expense 15,000 Sales revenue 2,399,000
Interest expense 69,000

Required:
Prepare a multiple-step income statement.

Use the information in the ledger accounts.
Cash Nov. 1 144,000
Nov. 8 40,320
Nov. 25 14,400
Nov. 30 1,680
Land Nov. 8 84,000
Building Nov. 8 70,320
Office Equipment Nov. 15 3,840
Nov. 21 576
Vehicles Nov. 30 11,280
Notes Payable Nov. 25 14,400
Nov. 8 114,000
Nov. 30 9,600
Accounts Payable Nov. 21 576
Nov. 15 3,840
Capital Stock
Nov. 1 144,000
Prepare a trial balance for Avenson Insurance Company dated November 30.

The widespread acceptance that bacteria causes diseases helped lead to a public health movement in the late nineteenth and early twentieth centuries. This movement eventually brought​ sewers, clean drinking​ water, and garbage removal to all U.S. cities. The public health movement in the United States in the late nineteenth and early twentieth centuries was like a technological advance to the​ country's production​ possibilities, since both ____________ expanded secured the​ economy's productive​ capacity, the former by increasing the​ nation's ________ degree of sophistication effective workforce .

Atlas Enterprises Inc. manufactures elliptical exercise machines and treadmills. The products are produced in its Fabrication and Assembly production departments. In addition to production activities, several other activities are required to produce the two products. These activities and their associated activity rates are as follows:

Activity Activity Rate
Fabrication $34 per machine hour
Assembly $14 per direct labor hour
Setup $46 per setup
Inspecting $26 per inspection
Production scheduling $14 per production order
Purchasing $8 per purchase order

The activity-base usage quantities and units produced for each product were as follows:

Elliptical
Activity Base Machines Treadmills
Machine hours 663 415
Direct labor hours 180 78
Setups 21 9
Inspections 119 181
Production orders 16 9
Purchase orders 90 50
Units produced 268 134

Required:
Use the activity rate and usage information to calculate the total activity cost and activity cost per unit for each product.

The contract drawings prepared by the architect are generally not specific enough to facilitate accurate fabrication of the materials involved. Therefore, to produce the necessary materials for a project, subcontractors and suppliers must provide ________________________ to amplify/clarify the contract drawings.