The ledger of Pina Colada Corp. on July 31, 2022, includes the selected accounts below before adjusting entries have been prepared.

Debit Credit
Investment in Note Receivable $18,000
Supplies 22,500 Prepaid Rent 5,400
Buildings 210,000
Accumulated DepreciationâBuildings $135,000
Unearned Service Revenue 11,100

An analysis of the companyâs accounts shows the following.

1. The investment in the notes receivable earns interest at a rate of 12% per year.
2. Supplies on hand at the end of the month totaled $17,600.
3. The balance in Prepaid Rent represents 4 months of rent costs.
4. Employees were owed $2,800 related to unpaid salaries and wages.
5. Depreciation on buildings is $6,360 per year.
6. During the month, the company satisfied obligations worth $4,500 related to the Unearned Services Revenue.
7. Unpaid maintenance and repairs costs were $2,100.

Required:
Prepare the adjusting entries at July 31 assuming that adjusting entries are made monthly.

Answer: See attachment

Explanation:

The adjusting entries at July 31 assuming that adjusting entries are made monthly has been attached.

N.B:

Interest receivable:

= 18000 × 12% × 1/12

= 18000 × 0.12 × 1/12

= 180

Supplies expenses:

= 22500 - 17600

= 4900

Rent expense:

= 5400/4

= 1350

Depreciation expense:

= 6360/12

= 530

Emo Incorporated is reviewing the following projects for next year's capital program. Project Initial Investment Length in Years Annual Cash Flow A $3.0 million 6 $719,374 B 3.5 million 5 970,934 C 4.0 million 7 904,443 D 5.0 million 4 1,716,024 E 6.0 million 6 1,500,919 F 7.0 million 5 1,941,868 G 8.0 million 7 1,725,240 Projects A and B are mutually exclusive and so are Projects D and E. Griffin-Kornberg has 10.5% cost of capital and a maximum of $14 million to spend on capital projects next year. Use capital rationing to determine which projects should be included in Emo's capital program.

Consider a mail order business in which employees take orders or parts from customers. Create a conceptual using the following information.

a. The mail order company has employees, each identified by a unique employee number, first and last name, and Zip Code.
b. Each customer of the company is identified by a unique customer number, first and last name, and Zip Code.
c. Each part sold by the company is identified by a unique part number, a part name, price and quantity in stock.
d. Each order placed by a customer is taken by an employee and is give a unique order number. Each order contains specified quantities of one or more parts. Each order has a date of receipt as well as an expected ship date. The actual ship date is also recorded.

Required:
Design an ER (Entity-Relationship) diagram for the mail order database and build the design using a data modeling tool such as ERwin or Rational Rose.

1. Determine the price of the bonds issued on February 1, 2021. 2-a. Prepare amortization schedules that indicate Cromley’s effective interest expense for each interest period during the term to maturity. 2-b. Prepare amortization schedules that indicate Barnwell’s effective interest revenue for each interest period during the term to maturity. 3. Prepare the journal entries to record the issuance of the bonds by Cromley and Barnwell’s investment on February 1, 2021. 4. Prepare the journal entries by both firms to record all subsequent events related to the bonds through January 31, 2023.

which of the following is not a likely reason for a change in project scope?

Bunnell Corporation is a manufacturer that uses job-order costing. On January 1, the company's inventory balances were as follows:

Raw materials $75,000
Work in process $19,600
Finished goods $59,400

The company applies overhead cost to jobs on the basis of direct labor-hours. For the current year, the company's predetermined overhead rate of $14.00 per direct labor-hour was based on a cost formula that estimated $560,000 of total manufacturing overhead for an estimated activity level of 40,000 direct labor-hours. The following transactions were recorded for the year:

a. Raw materials were purchased on account, $606,000.
b. Raw materials used in production, $561,200. All of of the raw materials were used as direct materials.
c. The following costs were accrued for employee services: direct labor, $510,000; indirect labor, $150,000; selling and administrative salaries, $257,000.
d. Incurred various selling and administrative expenses (e.g., advertising, sales travel costs, and finished goods warehousing), $382,000. Incurred various manufacturing overhead costs (e.g., depreciation, insurance, and utilities), $410,000.
e. Manufacturing overhead cost was applied to production. The company actually worked 41,000 direct labor-hours on all jobs during the year.
f. Jobs costing $1,558,300 to manufacture according to their job cost sheets were completed during the year.
g. Jobs were sold on account to customers during the year for a total of $3,075,000. The jobs cost $1,568,300 to manufacture according to their job cost sheets.

Required:
a. What is the journal entry to record raw materials used in production?
b. What is the ending balance in Raw Materials?
c. What is the journal entry to record the labor costs incurred during the year?
d. What is the total amount of manufacturing overhead applied to production during the year?
e. What is the total manufacturing cost added to Work in Process during the year?

What is the effect of KFC in the economy of the world?​

If Samatha finances the entire cost of a $700 bike at an APR of 2.95%, how much will she end up paying in total for the bike after paying off her loan in 2 years

One benefit of obtaining your bachelor degree over your associate degree is

Annenbaum Corporation uses the weighted-average method in its process costing system. This month, the beginning inventory in the first processing department consisted of 1,100 units. The costs and percentage completion of these units in beginning inventory were: Cost Percent Complete Materials costs $ 6,400 65% Conversion costs $ 7,500 45% A total of 7,900 units were started and 6,600 units were transferred to the second processing department during the month. The following costs were incurred in the first processing department during the month: Cost Materials costs $ 126,200 Conversion costs $ 207,700 The ending inventory was 50% complete with respect to materials and 35% complete with respect to conversion costs. The cost per equivalent unit for conversion costs for the first department for the month is closest to: Multiple Choice $24.83 $29.76 $26.96 $28.92

Home produces two goods: computers and wheat. Capital is specific to computers, land is specific to wheat, and labor is mobile between the two industries. Home has 100 workers and 100 units of capital but only 10 units of land. Foreign also produces computers and wheat. Capital is specific to computers; land is specific to wheat; and labor is mobile between the two sectors. Foreign also has 100 workers, but instead has 100 units of land and only 10 units of capital. It has the same production functions as Home. If trade is opened, the relative price of wheat will _____ in Home and _____ in Foreign.

g Jana just found out that she is going to receive an​ end-of-year bonus of ​$32,200. She is in the 35 percent marginal tax bracket. Calculate her income tax on this bonus. Now assume that instead of receiving a​ bonus, Jana receives the ​$32,200 as a​ long-term capital gain. What will be her​ tax? Which form of compensation offers Jana the best​ after-tax return? Would your calculation be different if the gain was​ short-term rather than​ long-term? Her income tax on this bonus is ​$nothing. ​(Round to the nearest​ dollar.) Now assume that instead of receiving a​ bonus, Jana receives the ​$32,200 as a​ long-term capital gain. What will be her​ tax? Which form of compensation offers Jana the best​ after-tax return? Would your calculation be different if the gain was​ short-term rather than​ long-term? ​ (Select the best answer​ below.) A. Jana will pay ​$4,830 ​($32,200× ​15%) in​ long-term capital gains taxes. Due to the reduced tax​ rate, the​ long-term capital gain offers Jana the best​ after-tax return. Because​ short-term capital gains are taxed as ordinary​ income, she will not receive any tax benefit if she receives the bonus as a​ short-term capital gain.

HELP PLEASE

Some businesses require federal licenses because Blank Space __________.
Choose the answer.

Question 19 options:

federal agencies regulate their business


have federal employees


they cross state lines


they have different tax brackets

what is a Value Stream

11. Which statement regarding the importance of human relations is false? A. People accomplish more in their work and personal lives when practicing good human relations. B. People work better together when practicing good human relations. C. People feel better about themselves when practicing good human relations. D. In general, people accomplish less when practicing good human relatio

What are challenges for organizations that have self-managed teams?

Job 243 was recently completed. The following data have been recorded on its job cost sheet:______.
Direct materials $ 56,870
Direct labor-hours 485 labor-hours
Direct labor wage rate $ 13 per labor-hour
Machine-hours 566 machine-hours
Number of units completed 4,300 units
The company applies manufacturing overhead on the basis of machine-hours. The predetermined overhead rate is $11 per machine-hour.
Required:
Compute the unit product cost that would appear on the job cost sheet for this job. (Round your answer to 2 decimal places.)

risk is the risk of a decline in a bond's value due to an increase in interest rates. This risk is higher on bonds that have long maturities than on bonds that will mature in the near future. Reinvestment risk is the risk that a decline in interest rates will lead to a decline in income from a bond portfolio. This risk is obviously high on callable bonds. It is also high on short-term bonds because the shorter the bond's maturity, the fewer the years before the relatively high old-coupon bonds will be replaced with new low-coupon issues. Which type of risk is more relevant to an investor depends on the investor's investment horizon , which is the period of time an investor plans to hold a particular investment.

Consider two neighboring island countries called Euphoria and Bellissima. They each have 4 million labor hours available per month that they can use to produce rye, jeans, or a combination of both. The following table shows the amount of rye or jeans that can be produced using 1 hour of labor.

Rye Jeans
Country (Bushels per hour of labor) (Pairs per hour of labor)
Euphoria 4 16
Bellissima 6 12

Initially, suppose Bellissima uses 1 million hours of labor per month to produce jeans and 3 million hours per month to produce rye, while Euphoria uses 3 million hours of labor per month to produce jeans and 1 million hours per month to produce rye. Consequently, Euphoria produces 15 million pairs of jeans and 20 million bushels of rye, and Bellissima produces 8 million pairs of jeans and 48 million bushels of rye. Assume there are no other countries willing to trade goods, so, in the absence of trade between these two countries, each country consumes the amount of jeans and rye it produces.

Bellissima's opportunity cost of producing 1 pair of jeans is_________ of rye, and Euphoria's opportunity cost of producing 1 pair of jeans is _____________ of rye. Therefore, ___________ has a comparative advantage in the production of jeans, and __________ has a comparative advantage in the production of rye.

Suppose that each country completely specializes in the production of the good in which is has a comparative advantage, producing only that good. In this case, the country that produces jeans will produce _________ million pairs per month, and the country that produces rye will produce _________-- million bushels per month.

Jill and George are married and file a joint return. They expect to have $410,000 of taxable income in the next year and are considering whether to purchase a personal residence that would provide additional tax deductions of $80.000 for mortgage interest and real estate taxes.


Not over $17,850.............. 10% of taxable income.
Over $17,850 but not over $72,500 $1,78500 + 15% of the excess over $17,850.
Over $72,500 but not over $146,400 $9,982.50 + 25% of the excess over $72,500.
Over $146,400 but not over $223,050..... $28,45780 + of the excess over $146,400.
Over $223,050 but not over $398,350..... S49,919S0 + of the excess over $223,050.
Over $398,350 but not over $450,000..... $107,76840 + of the excess over $398,350.
Over $450,000..................... $125,846ff + 39.6 of the excess over $450,000.

Required:
a. What is their marginal tax rate for purposes of making this decision?
b. What is the tax savings if the residence is acquired?

If there is a 30,000 average Service Cost in marketing services, with a 70% Cost Increase and 60% of client Payment for services upfront in addition to advantages of City, the predicted annual earnings for the firm are: _______

Two independent companies, Sheridan Co. and Pharoah Co., are in the home building business. Each owns a tract of land held for development, but each would prefer to build on the other's land. They agree to exchange their land. An appraiser was hired, and from her report and the companies' records, the following information was obtained:

Sheridan's Land Pharoah's Land
Cost and book value $581400 $356400
Fair value based upon appraisal 810000 650700

The exchange was made, and based on the difference in appraised fair values, Pharoah paid $159300 to Sheridan. The exchange lacked commercial substance. For financial reporting purposes, Sheridan should recognize a pre-tax gain on this exchange of:

a. $159300.
b. $228600.
c. $0.
d. $44958.

When a bank evaluates a person for a loan, what does the word "capacity" refer to? Question options: A) The ability to make payments on time B) The amount of the loan in question C) Property that can be pledged to protect the lender D) The willingness to repay debts

Factory Overhead Rates, Entries, and Account Balance Sundance Solar Company operates two factories. The company applies factory overhead to jobs on the basis of machine hours in Factory 1 and on the basis of direct labor hours in Factory 2. Estimated factory overhead costs, direct labor hours, and machine hours are as follows:

Factory 1 Factory 2
Estimated factory overhead cost for fiscal year beginning March 1 $12,900,000 $10,200,000
Estimated direct labor hours for year 250,000
Estimated machine hours for year 600,000
Actual factory overhead costs for March $1,082,500 $840,833
Actual direct labor hours for March 20,416
Actual machine hours for March 50,833

Required:
a. Determine the factory overhead rate for Factory 1.
b. Determine the factory overhead rate for Factory 2.
c. Journalize the entries to apply factory overhead to production in each factory for March.
d. Determine the balances of the factory overhead accounts for each factory as of March 31,and indicate whether the amounts represent overapplied factory overhead or underapplied factory overhead.

Bims Corporation uses the weighted-average method in its process costing system. The Assembly Department started the month with 4,800 units in its beginning work in process inventory that were 70% complete with respect to conversion costs. An additional 68,000 units were transferred in from the prior department during the month to begin processing in the Assembly Department. There were 32,000 units in the ending work in process inventory of the Assembly Department that were 60% complete with respect to conversion costs. What were the equivalent units for conversion costs in the Assembly Department for the month?

Please identify the appropriate term for the following scenarios.

a. Ivan, a Russian fishermen, needs a permit so that he can commercially participate in ice fishing for yellow perch and then the consequent sales.
b. Garet is an undergraduate student who has to work at McDonald's part time to help pay his tuition loans. Always looking on the bright side of things, he is thankful that he can't make less than what he is earning. $7.25 an hour.
c. D'Artagnan, a poor French noblemen, discovers a large cache of truffles in his backyard. However the government caps the sale of truffles at $100 a pound, which frustrates D'Artagnan as he knows they are worth more than that.
d. Athos is an avid collector of swords, but as they are illegal to purchase, he goes by illicit means to obtain them.
e. To help out farmers, the government sets the minimum price of potatoes at $26 a bushel.
f. In order to support domestic sales of textiles, the country of Germany puts a cap on the amount of foreign textiles it imports.

1. Price Floor
2. License
3. Price Ceiling
4. Quota
5. Black Market

Other things being equal, the aggregate demand curve is downward-sloping because Multiple Choice people buy fewer goods and services at lower average incomes. people buy more goods and services at lower average prices. a higher average price level will induce producers to offer more output than otherwise. people buy more goods and services at higher average prices.

Develop a personal strategic plan as a business graduate in today’s globalized world that defines the key skills /attributes that give you a competitive advantage in the global pool. What are the unique skills that will make a company want to hire you in the ever increasing global market. Using the tools explored by businesses to maintain their competitive advantage devise your individual personal strategic plan.​

North Star prepared the following unadjusted trial balance at the end of its second year of operations ending December 31.

Account Titles Debit Credit
Cash $13,000
Accounts Receivable 7,000
Prepaid Rent 2,600
Equipment 22,000
Accumulated Depreciation $1,100
Accounts Payable 1,100
Income Tax Payable 0
Common Stock 25,800
Retained Earnings 3,100
Sales Revenue 53,000
Salaries and Wages Expense 26,000
Utilities Expense 13,500
Rent Expense 0
Depreciation Expense 0
Income Tax Expense 0
Totals $84,100 $84,100

Other data not yet recorded at December 31:

a. Rent expired during the year, $1,300.
b. Depreciation expense for the year, $1,100.
c. Utilities used and unpaid, $10,000.
d. Income tax expense, $490.

Required:
a. Indicate the accounting equation effects of each required adjustment.
b. Prepare the adjusting journal entries required at December 31.

Katie Murphy is preparing for a meeting with her banker. Her business is finishing its fourth year of operations. In the first year, it had negative cash flows from operations. In the second and third years, cash flows from operations were positive. However, inventory costs rose significantly in year 4, and cash flows from operations will probably be down 25%. Murphy wants to secure a line of credit from her banker as a financing buffer. From experience, she knows the banker will scrutinize operating cash flows for years 1 through 4 and will want a projected number for year 5. Murphy knows that a steady progression upward in operating cash flows for years 1 through 4 will help her case. She decides to use her discretion as owner and considers several business actions that will turn her operating cash flow in year 4 from a decrease to an increase.

Identify two business actions Murphy might take to improve cash flows from operations.
Comment on the ethics and possible consequences of Murphy's decision to pursue these actions.

. Bobby was researching the economic growth of Denmark between 2009 and 2018. Using 2009 as the base year, he calculated a 15% increase for real GDP and a 10.5% increase for nominal GDP. His results indicate that ____. A. the quantity of outputs produced decreased over the period. B. the quantity of outputs produced did not change and prices decreased over the period. C. the quantity of outputs produced and prices both decreased over the period. D. the quantity of outputs increased and prices decreased over the period. E. he need more information to calculate nominal GDP.