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If an analysis of the general ledger accounts indicates that equipment, which had cost $168,000 and on which accumulated depreciation totaled $135,000 on the October 1st was sold for $20,000. During 2009 the depreciation on the equipment was $30,000. How will the above items be shown (operating, financing, investing) on the statement of cash flows and are they added or subtracting in the statement of cash flows? Solution 1) $30,000 will be added to Cash flow from operating activities because of the current year depreciation amount. As depreciation is a non-cash charge we will add it back to net income. 2) $20,000 will be added to Cash flows from investing activities as it generated cash inflows from the sale of the equipment. 3) $17,000 will be deducted from Cash flow from operating activities on account of gain from sale of equipment. Gain on sale of equipment = Cost of equipment .

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Question 1 (1 point) The following trial balance of Flip Corp. at December 31, year 1, has been adjusted except for income tax expense. Account Debit Credit Cash $600,000 Accounts Receivable, net 3,500,000 Cost in excess of billings on long-ter contracts 1,600,000 Billings in excess of cost on long-term contracts $700,000 Prepaid taxes 450,000 Property, plant, and equipment, net 1,480,000 Notes Payable, noncurrent 1,620,000 Common Stock 750,000 Additional Paid In Capital 2000,000 Retained Earnings - unappropriated 900,000 Retained Earnings - restricted for Notes Payable 160,000 Earning from long-term contracts 6,680,000 Cost and Expenses 5,180,000 ________ Totals $12,810,000 $12,810,000 Other financial data for the year ended December 31, year 1, are Flip uses the percentage-of-completion method to account for long-term construction contracts for financial statement and income tax purposes. All receivables on these contracts are considered to be collectible within twelve months. During year 1, estimated tax payments of $450,000 were charged to prepaid taxes. Flip has not recorded income tax expense. There were no temporary or permanent differences, and Flip's tax rate is 30%. In Flip's December 31, year 1 balance sheet, what amount should be reported as total noncurrent liabilities? Question 1 options: $2,480,000 $1,780,000 $1,620,000 $2,320,000 Save Question 2 (1 point) The following trial balance of Flip Corp. at December 31, year 1, has been adjusted except for income tax expense. Account Debit Credit Cash $600,000 Accounts Receivable, net 3,500,000 Cost in excess of billings on long-ter contracts 1,600,000 Billings in excess of cost on long-term contracts $700,000 Prepaid taxes 450,000 Property, plant, and equipment, net 1,480,000 Notes Payable, noncurrent 1,620,000 Common Stock 750,000 Additional Paid In Capital 2000,000 Retained Earnings - unappropriated 900,000 Retained Earnings - restricted for Notes Payable 160,000 Earning from long-term contracts 6,680,000 Cost and Expenses 5,180,000 ________ Totals $12,810,000 $12,810,000 Other financial data for the year ended December 31, year 1, are Flip uses the percentage-of-completion method to account for long-term construction contracts for financial statement and income tax purposes. All receivables on these contracts are considered to be collectible within twelve months. During year 1, estimated tax payments of $450,000 were charged to prepaid taxes. Flip has not recorded income tax expense. There were no temporary or permanent differences, and Flip's tax rate is 30%. In Flip's December 31, year 1 balance sheet, what amount should be reported as total current assets? Question 2 options: $6,150,000 $5,700,000 $5,450,000 $5,000,000 Save Question 3 (1 point) Flip, Inc. was incorporated on January 1, year 1, with proceeds from the issuance of $750,000 in stock and borrowed funds of $110,000. During the first year of op ...

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(1) CT13.1) Your parents are considering investing in Apple Inc. common stock. They ask you, as an accounting expert, to make an analysis of the company for them. Financial statements of Apple are presented in Appendix A. The complete annual report, including the notes to its financial statements, is available at the companys website. Instructions: A) Make a 5-year trend analysis, using 2014 as the base year, of (1) net sales and (2) net income. Comment on the significance of the trend results. B) Compute for 2018 and 2017 the (1) debt to assets ratio and (2) times interest earned. (See Note 3 for interest expense.) How would you evaluate Apples long-term solvency? C) Compute for 2018 and 2017 the (1) profit margin, (2) asset turnover, (3) return on assets, and (4) return on common stockholders equity. How would you evaluate Apples profitability? Total assets at September 24, 2016, were $321,686 million and total stockholders equity at September 24, 2016, was $128,249 million. D) What information outside the annual report may also be useful to your parents in making a decision about Apple? *Please ensure that ALL sections are labeled and answered (A, B, C, and D). Thank you for all your help! 1. Debt to Assets Ratio 2018:$258,578 $365,725 = 71% 2017:$241,272 $375,319 = 64% 2. Times Interest Earned 2018:($59,531 + $13,372 + $3,240) $3,240 = 23.5 times 2017:($48,351 + $15,738 + $2,323) $2,323 = 28.6 times Apple's long-term solvency has decreased. The debt to assets ratio indicates that creditors are providing approximately 71% of Apple's total assets, up from 64%. Also, even though the times interest earned ratio has decreased, Apple easily has the ability to pay interest payments when they come due as indicated by the times interest earned ratio of approximately 24 times. How can I get 3,240 and 2,323 in Times Interest Earned in question 2? Appendix A Specimen Financial Statements: Apple Inc. Once each year, a corporation communicates to its stockholders and other interested parties by issuing a complete set of audited financial statements. The annual report, as this communication is called, summarizes the financial results of the company's operations for the year and its plans for the future. Many annual reports are attractive, malticolored, glossy public relations pieces, containing pictures of corporate officers and directors as well as plotos and descriptions of new products and new buildings. Yet the busie function of every annual report is to report financial information, almost all of which is a product of the corporation's accounting system. The content and organization of corporate annual reports have become fairly standardized. Excluding the public relations part of the report (pictures, products, etc), the following are the traditional financial portions of the annual report: - Financial Highlights - Letter to the Stockholders - Management's Discussion and Analysis - Financial Statements - Notes to the Financial Statements - Managem.

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Discuss at least two ways that you can help to control what information is readily available about you to anyone, including employers on the Internet. Principles of Accounting II 1. (Ignore income taxes in this problem.) Gull Inc. is considering the acquisition of equipment that costs $570,000 and has a useful life of 6 years with no salvage value. The incremental net cash flows that would be generated by the equipment are: Incremental net cash flows Year 1 $148,000 Year 2 $204,000 Year 3 $153,500 Year 4 $170,500 Year 5 $160,500 Year 6 $139,500 If the discount rate is 10%, the net present value of the investment is closest to: (Use exhibit11b- 1, exhibit11b-2) rev: 12_14_2012, 12_21_2012 $406,000 $262,884 $143,116 $713,116 2. Jerston Company has an annual plant capacity of 3,000 units. Data concerning this product are given below: Annual sales at regular selling prices 2,800 units Manufacturing costs: Variable $ 26 per unit Fixed (annual) $ 74,500 Selling and administrative expenses: Variable (sales commissions) $ 9 per unit Fixed (annual) $ 17,000 The company has received a special order for 200 units at a selling price of $60 each. Regular sales would not be affected, and sales commissions on the 200 units would be reduced by one-third. This special order would have no impact on total fixed costs. Required: a. Determine the net advantage (disadvantage) for the special order. (Input the amount as a positive http://ezto-demo.mhecloud.mcgraw-hill.com/servlet/TestPilot4/laserwords2/13357912481508611.tp4/exhibit11b-1.jpg http://ezto-demo.mhecloud.mcgraw-hill.com/servlet/TestPilot4/laserwords2/13357912481508611.tp4/exhibit11b-1.jpg http://ezto-demo.mhecloud.mcgraw-hill.com/servlet/TestPilot4/laserwords2/13357912481508611.tp4/exhibit11b-2.jpg value.) (Click to select) $ b. The company should accept the special order. Yes No 3. Coakley Beet Processors, Inc., processes sugar beets in batches. A batch of sugar beets costs $52 to buy from farmers and $14 to crush in the company's plant. Two intermediate products, beet fiber and beet juice, emerge from the crushing process. The beet fiber can be sold as is for $30.00 or processed further for $19.00 to make the end product industrial fiber that is sold for $39.00. The beet juice can be sold as is for $47.20 or processed further for $33.04 to make the end product refined sugar that is sold for $78. How much profit (loss) does the company make by processing the intermediate product beet juice into refined sugar rather than selling it as is? $(68.24) $(26.04) $(16.24) $(2.24) 4. The Litton Company has established standards as follows: Direct material: 3 pounds per unit @ $5..

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During 2011- Arthur Corportation reported a net income of $3-059-000-.docx

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Driving School has 4 learning centres. The network of each learning centre is a LAN of its own. Network Cheap is contracted to install network connections between the learning centres. Network Cheap proposed to use RIP version 2. As the CEO of Driving School, will you accept this proposal? If you do not accept the proposal, what would you use for the routing protocol? Give your reasons. Solution IGRPâ€”Interior Gateway Routing Protocol , EIGRPâ€”Enhanced Interior Gateway Routing Protocol or OSPF V2â€”Open Shortest Path First came to a mind but RIP V2â€”Routing Information Protocol is a good choice The characteristics of RIPv2 follow: Distance-vector protocol. Uses UDP port 520. Classless protocol (support for CIDR). Supports VLSMs. Metric is router hop count. Maximum hop count is 15; infinite (unreachable) routes have a metric of 16. Periodic route updates sent every 30 seconds to multicast address 224.0.0.9. 25 routes per RIP message (24 if you use authentication). Supports authentication. Implements split horizon with poison reverse. Implements triggered updates. Subnet mask included in route entry. Administrative distance for RIPv2 is 120. Used in small, flat networks or at the edge of larger networks. IGRP Converges slowly infact slower than RIP and for IGRP , OSPF or EIGRP all routers must be from Cisco Systems ( big constraint) .

Driving School has 4 learning centres- The network of each learning ce.docx

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Donnie Hilfiger has two classes of stock authorized: S1 par preferred and S0.01 par value common. As of the beginning of 2015, 200 shares of preferred stock and 3,900 shares of common stock have been issued. The following transactions affect stockholders\' equity during 2015: March 1 Issues 1,000 shares of common stock for $41 per share. May 15 Repurchases 600 shares of treasury stock for S34 per share. July 10 Reissues 100 shares of treasury stock purchased on May 15 for $39 per share. October 15 Issues 100 shares of preferred stock for $44 per share. December 1 Declares a cash dividend on both common and preferred stock of SO.55 per share to all stockholders of record on December 15. (Hint Dividends are not paid on treasury stock.) December 31 Pays the cash dividends declared on December 1. Donnie Hilfiger has the following beginning balances in its stockholders\' equity accounts on January 1, 2015: Preferred Stock, S200; Common Stock, S39; Additional Paid-in Capital, $75,000; and Retained Earnings, $30,000. Net income for the year ended December 31, 2015, is $10,700. Taking into consideration all the transactions during 2015, respond to the following for Donnie Hilfiger: 4 .56 points Prepare the statement of stockholders\' equity for the year ended December 31, 2015. (Amounts to be deducted should be indicated by a minus sign.) Solution Par Value = 1000*0.01 = 10 Additional Paid in Capital = 40990 Par Value = 100 Additional Paid in Capital = 4300 .

Donnie Hilfiger has two classes of stock authorized- S1 par preferred.docx

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Doris Washington recently assumed her new position as HR Director at the XYZ Company, a software development firm with approximately 350 employees. Her staff includes a seasoned generalist as well as a benefits clerk. During her first 90 days on the job, Doris has noted the following issues that seem to be embedded in XYZ\'s culture: 1) managers create their own interview questions; 2) for some employees, their compensation is simply determined by managers, not based on training, experience, geographic region, and so on; and, 3) the company seems to draw new employees from only two sources, one is the university from which the President of the company graduated. While Doris has been contemplating these trends, the CEO has asked her to attend a strategic planning meeting about opening the company\'s first location on in Toronto, Canada in approximately nine months. She needs to provide a recommendation to the CEO that can be used appropriately. Instructions: Solution 1. Four potential issues faced by Doris as a HR director are listed below: 2. Key issue: The Company does not follow a standard process for hiring the employees as managers of the company uses their own set of interview questions. This would be one of the most difficult problems for the company, because uneven hiring process might result in hiring of incompetent employees. In future, such employees would not be able to contribute towards the company .

Doris Washington recently assumed her new position as HR Director at t.docx

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Doppler Effect: True or False John is listening to a horn. He knows the frequency of the horn is 300 Hz when both he and the horn are at rest. If he hears a pitch of 330 Hz, there are clearly several possibilities. For each of the following statements, indicate whether it is correct or incorrect. Both can be moving and have different speeds, Both can be moving and have the same speed John and the horn are both moving in the same direction but John is behind and moving faster than the horn. Both can be moving, in opposite directions. John is moving towards the horn at rest. The distance between John and the horn is increasing with time. Submit Answer Tries 0/10 Solution QUESTION: A) John is moving towards the horn at rest. B) Both can be moving and have the same speed. C) Both can be moving and have different speeds. D) Both can be moving, in opposite directions. E) The distance between John and the horn is increasing with time. F) Both cannot be moving in the same direction. ANSWER: A) True, when John moves towards the horn, it is the same as if he stood still and the horn moved towards him. B) True, if they are moving toward each other at the right speed, John would hear more waves per unit time, thus a higher frequency. C) True, the horn could be getting closer to John. D) True, same as B, they can approach each other to achieve this effect. E) False, it must be decreasing to hear a higher frequency. F) False, they could be. If both are moving and the horn is catching up to John, this effect could be achieved. .

Doppler Effect- True or False John is listening to a horn- He knows th.docx

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DQ #4 Explain the US Government Thrift Savings Plans. Solution The US Government Thrift Savings Plans is a defined-contribution plan designed to give federal employees the same retirement savings related benefits which will be equal to that of workers in the private sector enjoy with 401(k) plans. Contributions to these plans are automatically deducted from each paycheck of federal employees. The thrift savings plan offers six different funds (government security fund, fixed-income fund, common stock fund, small cap stock fund, international stock fund and a life cycle fund) in which federal employees can invest. Because the thrift savings plan is based on tax-deferred contributions, any contributions made into it will not be taxed until the money is withdrawn, which can be deferred until retirement. Other Benefits of these US Government Thrift Savings Plans includes 1) agency matching contributions 2) agency automatic contributions 3) catch up contributions and 4) low expense ratios. .

DQ #4 Explain the US Government Thrift Savings Plans-SolutionThe US Go.docx

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