Tunstall, Inc., a small service company, keeps its records without the help of an accountant. After much effort, an outside accountant prepared the following unadjusted trial balance as of the end of the annual accounting period, December 31, 2014: Account Titles Debit Credit Cash $ 42,000 Accounts receivable 11,600 Supplies 900 Prepaid insurance 800 Service trucks 19,000 Accumulated depreciation $ 9,200 Other assets 8,300 Accounts payable 3,000 Wages payable Income taxes payable Note payable (3 years; 10% interest due each December 31) 17,000 Common stock (5,000 shares outstanding) 400 Additional paid-in capital 19,000 Retained earnings 6,000 Service revenue 61,360 Remaining expenses (not detailed; excludes income tax) 33,360 Income tax expense Totals $ 115,960 $ 115,960 Data not yet recorded at December 31, 2014, included: a. The supplies count on December 31, 2014, reflected $300 remaining supplies on hand to be used in 2015. b. Insurance expired during 2014, $800. c. Depreciation expense for 2014, $3,700. d. Wages earned by employees not yet paid on December 31, 2014, $640. e. Income tax expense, $5,540.

Answer:

Net income = $16,720

Total assets = Total Stockholders Equity and Liabilities = $68,300

Explanation:

Note: This question is not complete and the data in it are merged together. The complete question with the sorted data is therefore presented before answering the question. See the attached pdf file for the complete question with the sorted data.

Also note: See the attached excel file for the income statement and the classified balance sheet.

A classified balance sheet can be described as a financial statement that show different classifications such intangible assets, fixed assets, current assets, shareholders equity, current liabilities, and long-term liabilities.

An accountant is modeling the annual tax expenditures, E, in thousands of dollars ttt years after January 1^{\text{st}}1 st 1, start superscript, start text, s, t, end text, end superscript, 200020002000 for a small business using two different models. Both of the accountant's models have tax expenditures of \$5000$5000dollar sign, 5000 on January 1^{\text{st}}1 st 1, start superscript, start text, s, t, end text, end superscript, 200020002000. Model 111 has tax expenditures which increase by \$4000$4000dollar sign, 4000 each year. Model 222 has tax expenditures which increase by a factor of aaa every 555 years. If the models have the same value on January 1^{\text{st}}1 st 1, start superscript, start text, s, t, end text, end superscript, 201020102010, what is the value of aaa

Johnson lives near Dollywood, a popular theme park in Tennessee. Johnson decides to begin a new money-making venture selling screen printed t-shirts from a booth just down the road from the theme park, to take advantage of the traffic that flows by on its way to the park. Johnson’s t-shirts, however, will not be Dollywood-themed t-shirts; they will be Johnson’s own creations. Johnson’s daughter Susan helps him in his new venture by manning the booth from time to time, but Johnson has total control over everything about the business—from ordering the t-shirts, paying the bills, pricing the t-shirts, paying the taxes on his sales, and receiving all the profits from the venture. Even though Johnson put no thought into what kind of business venture he was creating when he started his business, Johnson has effectively created a: ________

a. corporation
b. sole proprietorship
c. franchise
d. limited liability company

An article in Forbes noted that the Intercounty Connector toll road that connects two counties in Maryland was not generating
as much toll revenue as predicted. At that time, the toll rate was $8 for a passenger car making a round trip from end to end on
the tollway during rush hour.


What additional information would you need to know in order to determine if the toll should be increased or decreased?

A. The price elasticity of supply

B.The income elasticity of drivers using the tollway

C. The number of vehicles using the tollway per day

D.The price elasticity of demand

all corporate employees use social network analysis, whether it's done formally with the help of technology or informally. as a new employee in a corporate environment, what is the first step you should take to utilize the organizations social network

Your organization is floral supply company with employees in the following jurisdictions Manitoba, Prince Edward Island ,Yukon The organization is planning to implement a company wide policy with respect to vacation leave.............

Using the information provided, what transaction represents the best application of the present value of an annuity due of $1? A. Compass, Inc., signs a note of $32,000, which requires the company to pay back the principal plus interest in four years. B. Falcon Products leases an office building for 8 years with annual lease payments of $100,000 to be made at the beginning of each year. C. NYC Industries leases a car for 4 yearly annual lease payments of $12,000, where payments are made at the end of each year. D. Bahwat Company plans to deposit a lump sum of $100,000 for the construction of a solar farm in 4 years.

A machine with a cost of $145,000 and accumulated depreciation of $100,000 is sold for $57,500 cash. The amount that should be reported as a source of cash under cash flows from investing activities is:

The Simkins Corporation uses a job-order costing system. The following activities took place during the month of May: a. Raw materials purchased $40,000 b. Raw materials (all direct) used in production $35,000 c. Salaries and wages costs: Direct labor cost $60,000 Indirect labor cost $30,000 Sales salaries $25,000 d. Factory utility costs $15,000 e. Depreciation on factory equipment $50,000 f. Advertising expense $80,000 g. Manufacturing overhead is applied at the predetermined rate of 150% of direct labor cost. h. Cost of Goods Manufactured for the month $180,000 i. Cost of Goods Sold for the month $150,000 Required: Prepare journal entries to record the information given above. Key your entries by the letters a through i.

Employers place high value on strategic thinking skills in new graduates. This activity is important because strategic thinking happens at every single level of the organization and will assuredly be an unwritten part of the description of any job that you do. The goal of this exercise is to test your knowledge of the four key activities for developing your ability to think strategically.

Read the descriptions of following activities for developing strategic thinking. Then, write the key activity for developing strategic thinking that its description best represents.

a. Rex is participating in a job rotation program at his new workplace which gives him the chance to get to know as many aspects of the company as possible.
b Tripp sets aside time for work-related reflection each week. He usually spends the time organizing his to-do list for the upcoming week.
c. Paz has been an attorney for ten years and decides she can stop attending annual continuing education seminars now that she knows everything there is to know about her job.
d. Melia often purposefully plays the devil's advocate during work meetings because she thinks it's important to help her team avoid potentially costly decisions.

Cody Jenkins and Lacey Tanner formed a partnership to provide landscaping services. Jenkins and Tanner shared profits and losses equally. After all the tangible assets have been adjusted to current market prices, the capital accounts of Cody Jenkins and Lacey Tanner have balances of $78,000 and $46,000, respectively. Valeria Solano has expertise with using the computer to prepare landscape designs, cost estimates, and renderings. Jenkins and Tanner deem these skills useful; thus, Solano is admitted to the partnership a 30% interest for a purchase price of $31,000.

Required:
a. Determine the recipient and amount of the partner bonus.
b. Provide the journal entry to admit Solano into the partnership.
c. Why would a bonus be paid in this situation?

Total product begins to fall when Multiple Choice marginal product is maximized. average product is below zero. average product is negative. marginal product is zero.

A study was set up to look at whether there was a difference in the mean arterial blood pressure between two groups of volunteers, after 6 weeks of following one of two treatment programs. One group of volunteers were given an exercise regimen to follow for the 6 weeks and the other group were given the same exercise regimen with the addition of an experimental tablet. Which type of t-test should be used in this situation?

Smyth Industries operated as a monopolist for the past several years, earning annual profits amounting to $50 million, which it could have maintained if Jones Incorporated did not enter the market. The result of this increased competition is lower prices and lower profits; Smyth Industries now earns $10 million annually. The managers of Smyth Industries are trying to devise a plan to drive Jones Incorporated out of the market so Smyth can regain its monopoly position (and profit). One of Smyth's managers suggests pricing its product 50 percent below marginal cost for exactly one year. The estimated impact of such a move is a loss of $1 billion. Ignoring antitrust concerns, answer the following question: If Smyth Industries engages in predatory pricing by slashing its price 50 percent below marginal cost, the present value of current and future profits is:

Which liability account is typically settled by providing goods or services rather than by paying cash

You've selected the product strategies for the shake, you need to decide on a pricing strategy. The meal replacement market is very crowded with competitors. Therefore, In Fine Fettle must consider the competition's prices when setting the price for its new product. A market analysis reveals that most ready-made meal replacement shakes sell for between $2 and $4 per shake. Keep your target market and product decisions in mind as you consider your pricing options.

a. Above-market: In Fine Fettle will offer its turmeric shake for $4.50 per shake, which is above the market average.
b. Below-market: In Fine Fettle will offer its turmeric shake for $1.50 per shake, which is below the market average.
c. At-market: In Fine Fettle will offer its turmeric shake for $3.00 per shake, which is at the market average.

Troglodyte University uses activity-based costing to assign indirect costs to academic departments, using three activities. The activity base, budgeted activity cost, and estimated activity-base usage for each activity are identified as follows: Activity Activity Base Budgeted Activity Cost Activity-Base Usage Facilities Square feet $800,000 80,000 square feet Instruction Number of course sections 1,200,000 600 sections Student services Number of students 290,000 2,500 students The activity-base usage associated with the Archaeology and Geology departments is as follows: Department Facilities Instruction Student Services Archaeology 8,000 square feet 8 sections 150 students Geology 5,200 square feet 15 sections 200 students a. Determine the activity rate for each activity. Activity Activity Rate Facilities $ per sq. ft. Instruction $ per section Student services $ per student b. Determine the total activity cost for the Archaeology Department. Total activity cost $

What is institutional advertising focused on promoting?
A. Acompany
B. The Internet
C. A service
D. A good

Silver Company manufactures kites and has the following information available for the month of April:

Work in process, April 1
(100% complete for materials, 40% for conversion) 52,000 units
Direct materials $80,000
Conversion cost $110,000
Number of units started 158,000 units

April costs
Direct materials $226,000
Conversion cost $336,000
Work in process, April 30 (100% complete for materials, 20% for conversion) 80,000 units

Required:
Using the weighted-average method, complete each of the following steps:

a. Reconcile the number of physical units worked on during the period.
b. Calculate the number of equivalent units.
c. Calculate the cost per equivalent unit.
d. Reconcile total cost Of work process.

The hospitality industry does not have a definition upon which everyone can agree.

True
False

Precision Camera Services started the year with total assets of $80,000 and total liabilities of $40,000. The revenues and the expenses for the year amounted to $140,000 and $60,000​, respectively. During the​ year, the company did not issue any common​ stock, but it distributed dividends of $55,000. What is the amount of​ stockholders' equity at the end of the​ year?

How effective is it to request to scale back some features to deliver a 50% test version of your project

Mr. Adam Smith works as a senior executive for Corebiz Corp., a multinational company with subsidiaries in many Asian countries. The firm believes in implementing a marketing strategy that strongly resonates the essence of the local culture. The company relocates Mr. Smith to Beijing to handle its operations in China. A few months into his stay, Mr. Smith begins to learn the ways of life and appropriate behavior in China. When Mr. Smith was invited for tea by his colleagues, he observed people around him and learned the right way to tap his finger and fold a napkin. Mr. Smith learns that the Chinese revere their seniors and treat them with respect. They never question the decision of their seniors. Any show of disrespect, especially "name calling," is shunned upon by society; and the person found doing so, risks being ridiculed by everyone. The people seemed to have high cohesiveness in terms of ties as a community. Though these new ways seems to be inconvenient for Mr. Smith owing to the vast cultural difference between the United States and China, Mr. Smith thinks that it is worth all the trouble. Mr.Smith learns that the Chinese revere their elders and treat them with respect.Even when there is no kinship involved,an older person should never be addressed with his/her name.According to the CSV dimension,China is a culture high in _____.

s. individualism
b. collectivism
c. masculinity
d. power distance
e. long-term orientation

If you are paid $15 per $100 sold, what is your type of payment?
a. Commission
b. Salary
c. Wage
d. Pension
Please select the best answer from the choices provided​

When companies compete in a market economy, what is usually the result?

a)Consumers are able to buy goods for the best available price.
b)People pay much higher prices for goods.
c)There are frequent shortages of goods on the market.
d)Producers refuse to sell some of their products.

Larkspur, Inc. uses a periodic inventory system. Its records show the following for the month of May, in which 80 units were sold. Date Explanation Units Unit Cost Total Cost May 1 Inventory 34 $9 $306 15 Purchase 26 10 260 24 Purchase 40 11 440 Total 100 $1,006 Calculate the weighted-average unit cost. (Round answer to 3 decimal places, e.g. 5.125.) Weighted-average unit cost $Enter the Weighted-average unit cost in dollars eTextbook and Media Calculate the ending inventory at May 31 using the FIFO, LIFO and average-cost methods. (Round answers to 0 decimal places, e.g. 125.) FIFO LIFO AVERAGE-COST The ending inventory at May 31 $Enter a dollar amount $Enter a dollar amount $Enter a dollar amount

Omega Tire Co.'s perpetual inventory records indicate that $3,145,000 of merchandise
should be on hand on August 31. The physical inventory indicates that $3,113,500 of mer-
chandise is actually on hand. Journalize the adjusting entry for the inventory shrinkage for
Omega Tire Co. for the fiscal year ended August 31.

Exercise 4-5 Assigning Overhead to Products in ABC [LO4-2, LO4-3]Sultan Company uses an activity-based costing system.At the beginning of the year, the company made the following estimates of cost and activity for its five activity cost pools:Activity Cost Pool Activity Measure ExpectedOverhead Cost Expected ActivityLabor-related Direct labor-hours $ 156,000 26,000 DLHsPurchase orders Number of orders $ 11,000 220 ordersParts management Number of part types $ 80,000 100 part typesBoard etching Number of boards $ 90,000 2,000 boardsGeneral factory Machine-hours $ 180,000 20,000 MHsRequired:1. Compute the activity rate for each of the activity cost pools.2. The expected activity for the year was distributed among the company’s four products as follows:Expected ActivityActivity Cost Pool Product A Product B Product C Product DLabor-related (DLHs) 6,000 11,000 4,000 5,000Purchase orders (orders) 60 30 40 90Parts management (part types) 30 15 40 15Board etching (boards) 500 900 600 0General factory (MHs) 3,000 8,000 3,000 6,000Using the ABC data, determine the total amount of overhead cost assigned to each product.

What types of products have an energy-efficiency rating (EER)?

A regular guest requests his wife’s favorite dish a short while before the kitchens closing time. The chef informs the guest that the cook who usually makes it is not available. However, the actual reason is that making it would delay closing the kitchen. Which article of the code of ethics would this action breach?
A. abiding by the law
B. acting fairly
C. doing ones best
D. treating guests with respect
E. keeping confidence

During 2022 Swifty Corporation had sales on account of $561000, cash sales of $244000, and collections on account of $345000. In addition, they collected $6800 which had been written off as uncollectible in 2021. As a result of these transactions the change in the accounts receivable balance from the beginning of the year to the end of the year indicates a