Bmgt220 Week 6 Homework Solutions

In: Business and Management

Submitted By arnitaetsitty
Words 405
Pages 2
BMGT220 Week 6 homework solutions
Click Link Below To Buy: http://hwaid.com/shop/bmgt220-week-6-homework-solutions/ Problem 1
On October 1, 20X4, Farmer Engineering Services purchased a new laser surveying instrument. Farmer paid $5,000 down and executed the following promissory note: ……………………….
…………………..
Problem 2
Examine the following items and prepare the current liabilities section of the Balance sheet for Annapolis Corporation as of December 31, 2007

The beginning of year accounts payable was $100,000. Purchases on trade accounts during the year were $650,000, and payments on account were $610,000. The company incurs substantial costs for electricity to run its servers and air conditioning systems. As of December 31, 2007, it is estimated that $55,000 of electricity has been used, although the monthly billing for December has not yet been received. Annapolis Corporation sells web hosting plans for as low as $25 per month. However, it requires its customers to prepay in 6-month increments. As of the end of the year, $375,000 had been collected for 2008 web hosting plans. Web hosting services are subject to sales taxes, and Annapolis Corporation collected $65,000 during the year. All of these amounts have been remitted to taxing authorities, with the exception of $5,000 that is due to be paid in January, 2008. The company has total bank loans of $1,500,000. This debt bears interest at 6%, payable monthly. As of December 31, 2007, all interest had been paid, with the exception of accrued interest for the last half of December. The company's bank loans ($1,500,000) are all due on June 30, 2008. However, Annapolis Corporation has a firm lending agreement with the bank to renew and extend $1,000,000 of this amount on a 5-year basis. The company intends to exercise this renewal option, but is not yet sure about the final…...

Similar Documents

Ec142 Week 6 Homework

...EC142/Principles of Microeconomics Week 6 Homework Chapter 8: #2. Discuss the major barriers to entry into an industry. Explain how each barrier can foster either monopoly or oligopoly. Which berries, if any, do you feel give rise to monopoly that is socially justifiable. Some of the major berries to entry into certain industries would be economies of scale, legal barriers such as patents and licensees, ownership of essential resources and cost or pricing. Economies of scale could foster a monopoly because it deals with very large industries that have the ability to sustain substantial losses in order to reach their long term gains. Smaller companies that wish to enter the business just can’t afford the lost in capital or gains and need to make a profit now. These larger industries could go years’ operating in the red and effectively squeeze out their smaller completion that could not do the same. Some legal barriers that could cause a monopoly could be patents on inventions that are need to make the product. They could also be restriction on product, tax laws and government regulations. One government regulation that ensures the U.S. Postal Service will always be a monopoly is the law that was established that states the U.S. Postal service is the only company that can legally deliver first class mail. This law alone is a barrier for any new company that would like to start a post office business. Ownership of essential resources and cost could foster either a......

Words: 1092 - Pages: 5

Acc 317 Week 6 Homework Acc317 Week 6 Homework

...http://workbank247.com/q/acc-317-week-1-to-week-11-discussions-and-homework/10462 http://workbank247.com/q/acc-317-week-1-to-week-11-discussions-and-homework/10462 ACC 317 Week 1 Discussion "Corporate Tax Resources" Please respond to the following: * From the first part of the e-Activity, identify one (1) interesting piece of information related to corporate tax that you found surprising, and explain why you found it to be surprising. * From the second part of the e-Activity, identify the challenges in locating Form 1120, the instructions for this form, and any supporting schedules in preparation for a corporate tax return. ACC 317 Week 1 Homework Click the link above to submit this assignment. Homework * Chapter 17: 28, 38, and 45 * Chapter 18: 33 and 44 ACC 317 Week 2 Discussion "Corporate Election" Please respond to the following: * Suggest at least two (2) factors that may contribute to a business owner opting to become a corporation, and ascertain the primary tax effects as a result. Provide support for your rationale. * According to the textbook, limited liability companies (LLCs) are becoming more and more popular in the United States. Analyze this growth, and give your opinion on the way in which this growth is affecting new businesses and their decision to operate as corporations. Provide support for your findings. ACC 317 Week 2 Homework Click the link above to submit this assignment. Homework: * Chapter 19: 32, 42, and 51 ACC 317 Week 3......

Words: 1525 - Pages: 7

Mat540 Week 6 Homework Mat 540 Week 6 Homework

... MAT 540 MAT540 Complete Homework Assignment Click below link for Answer or visit www.workbank247.com http://workbank247.com/q/mat540-week-1-to-week-11-homework-latest-2015/10483 http://workbank247.com/q/mat540-week-1-to-week-11-homework-latest-2015/10483 MAT540 Week 1 Homework Chapter 1 1. The Retread Tire Company recaps tires. The fixed annual cost of the recapping operation is $55,000.The variable cost of recapping a tire is $8.The company charges $21 to recap a tire. a. For an annual volume of 10,000 tires, determine the total cost, total revenue, and profit. b. Determine the annual break-even volume for the Retread Tire Company operation. 2. Evergreen Fertilizer Company produces fertilizer. The company’s fixed monthly cost is $30,000, and its variable cost per pound of fertilizer is $0.16. Evergreen sells the fertilizer for $0.40 per pound. Determine the monthly break-even volume for the company. 3. If Evergreen Fertilizer Company in Problem 2 changes the price of its fertilizer from $0.40 per pound to $0.60 per pound, what effect will the change have on the break-even volume? 4. If Evergreen Fertilizer Company increases its advertising expenditures by $14,000 per year, what effect will the increase have on the break-even volume computed in Problem 2? 5. Annie McCoy, a student at Tech, plans to open a hot dog stand inside Tech’s football stadium during home games. There are seven home games scheduled for the...

Words: 7099 - Pages: 29

Week 6 Homework

...influence the group and sway opinions. Group members should be encouraged to contribute with questions from the facilitator or other group members and feel like it is a safe place to share ideas. (Kayser, Tuch, 1992) Handle Emotions The final of the five steps is to handle emotions. The basic construct for handling emotions for mining group gold is feelings, facts and solutions. Feelings refers to accepting, acknowledging, and processing feelings of group members in a structured way so the group can move past feelings and on to facts. Facts refers to the development of objectively identified facts that are used by group members to recognize and consider any problems and find solutions. Solutions refers to having group members use their problem solving skills to identify solutions and choose the best one to implement after it has been fully evaluated. (Effective Meetings) How To Deal With Emotions As mentioned above, it is occasionally necessary to handle emotions in a group setting, and to do so in a way that does not hinder the progression of the meeting. The process of feelings, facts and solutions is accomplished through a few steps. The facilitator, or a secondary facilitator if the primary is the person with the emotions, stops the meeting at the heated point and has participants write down what they are feeling. During this time the group is taking a moment of quiet time to reflect on what they are writing down. After the short silent break the......

Words: 1315 - Pages: 6

Bmgt220 Week 1 Homework Solutions

...BMGT220 Week 1 homework solutions Click Link Below To Buy: http://hwaid.com/shop/bmgt220-week-1-homework-solutions/ Problem 1 Record the following journal entries below. The first two are done for you as examples. Date Event 1/2/2010 Amanda Smith invested $20,000 cash in capital stock of newly formed corporation 1/4/2010 Purchased equipment on account for $15,000. Note that when you see on account it means the customer will pay later. 1/12/2010 Received $30,000 from customers for services rendered. 1/15/2010 Received a bill for construction supplies used in the amount of $4,000. 1/18/2010 Provided $6,400 of services on account. 1/20/2010 Paid employees $4,600 for wages earned. 1/22/2010 Collected the amount due for work provided on January 18. 1/23/2010 Paid the amount due on equipment purchased on January 4. 1/25/2010 Purchased (and used immediately) construction supplies for cash in the amount of $1,200. 1/31/2010 The company paid Amanda Smith a $3,000 dividend PROBLEM 2 Record the following journal entries below. Hint - some transactions do not require a journal entry Date Event 6/2/2011 Jose Alverado invested $50,000 cash in the capital stock of a new corporation 6/3/2011 Paid rent for June in amount of $2,000. 6/6/2011 Hired an assitant to be paid $6,000 per month. 6/7/2011 Signed contract with Alpha Company to provide services for $15,000. 6/8/2011 Purchased on account and immediately used......

Words: 404 - Pages: 2

Bmgt220 Week 2 Homework Solutions

...BMGT220 Week 2 homework solutions Click Link Below To Buy: http://hwaid.com/shop/bmgt220-week-2-homework-solutions/ Review the unadjusted trial balance below and prepare adjusting journal entries to record the various described items below. Record in the space provided at the bottom of this spreadsheet. After completing journal entries, complete the adjusted trial balance below. Lastly complete the income statement and balance sheet. The balance sheet must balance. Save completed file with your name in the file name and submit to LEO. Belair Corporation Unadjusted Trial Balance January 31, 2015 Debits Credits Cash $ 37,500 $ - Accounts receivable 12,410 - Prepaid insurance 2,400 - ……………………………………… 1 Belair Corporation's equipment had an original life of 140 months, and the straight-line depreciation method is used. As of January 1, the equipment was 40 months old. The equipment will be worthless at the end of its useful life. 2 As of the end of the month, Belair Corporation has provided services to customers for which the earnings process is complete. Formal billings are normally sent out on the first day of each month for the prior month's work. January's unbilled work is $25,000. ...

Words: 304 - Pages: 2

Bmgt220 Week 3 Homework Solutions

...BMGT220 Week 3 homework solutions Click Link Below To Buy: http://hwaid.com/shop/bmgt220-week-3-homework-solutions/ There are two homework problems this week. The first is below and the second one is on the second tab at the bottom left of the screen Below you will see an unadjusted trial balance run at year end follwed by information needed to make adjusting entries. Baltimore Glass Company Trial Balance December 31, 2014 Acct. No. Account Title Debit Credit 101 Cash 88,450 110 Accounts Receivable 195,613 120 Merchandise Inventory, 1/1/2014 256,250 125 Supplies on Hand 3,252 130 Prepaid Insurance 3,500 131 Prepaid Rent 7,500 150 Equipment 175,285 160 Accumulated Depreciation 24,260 202 Accounts Payable 72,555 210 Wages Payable - 301 Capital Stock 220,000 302 Retained Earnings, 1/1/2014 211,144 401 Sales 998,250 405 Sales Returns and Allowances 5,145 410 Interest Revenue 1,500 500 Purchases 556,800 502 Purchases Returns and Allowances 1,200 505 Transporatation In 4,580 510 Inventory Change 520 Advertising Expense 1,000 530 Sales Salaries Expense 88,600 532 Supplies......

Words: 471 - Pages: 2

Bmgt220 Week 1 to 7 Homework Solutions

...BMGT220 Week 1 to 7 homework solutions Click Link Below To Buy: http://hwaid.com/shop/bmgt220-week-1-7-homework-solutions/ Problem 1 Record the following journal entries below. The first two are done for you as examples. Date Event 1/2/2010 Amanda Smith invested $20,000 cash in capital stock of newly formed corporation 1/4/2010 Purchased equipment on account for $15,000. Note that when you see on account it means the customer will pay later. 1/12/2010 Received $30,000 from customers for services rendered. 1/15/2010 Received a bill for construction supplies used in the amount of $4,000. 1/18/2010 Provided $6,400 of services on account. 1/20/2010 Paid employees $4,600 for wages earned. 1/22/2010 Collected the amount due for work provided on January 18. 1/23/2010 Paid the amount due on equipment purchased on January 4. 1/25/2010 Purchased (and used immediately) construction supplies for cash in the amount of $1,200. 1/31/2010 The company paid Amanda Smith a $3,000 dividend PROBLEM 2 Record the following journal entries below. Hint - some transactions do not require a journal entry Date Event 6/2/2011 Jose Alverado invested $50,000 cash in the capital stock of a new corporation 6/3/2011 Paid rent for June in amount of $2,000. 6/6/2011 Hired an assitant to be paid $6,000 per month. 6/7/2011 Signed contract with Alpha Company to provide services for $15,000. 6/8/2011 Purchased on account and immediately......

Words: 2570 - Pages: 11

Bmgt220 Week 4 Homework Solutions

...BMGT220 Week 4 homework solutions Click Link Below To Buy: http://hwaid.com/shop/bmgt220-week-4-homework-solutions/ Compute the ending inventory using the perpetual weighted average method below. These are the same transactions used in week 3 homework: units price 1-Jan Beginning inventory 3,500 $ 3.00 14-Jan Bought 1,500 $ 3.15 5-Feb Sold 1,000 22-Feb Bought 2,000 $ 3.20 7-Mar Sold 1,500 15-Mar Sold 2,000 5-Apr Bought 1,000 $ 3.25 10-Apr Sold 800 12-Apr Sold 800 22-Apr Sold 500 4-May Sold 600 10-May Bought 2,000 $ 3.30 25-May Sold 500 Problem 2 Complete journal entries for the following transactions: 1. Sales for the month of June, 2014 were $75,000. Using a percentage allowance method of 1% record the allowance. 2. On June 30, it was determined that two customers with receivables totaling $980 were not likely to pay 3. On July 15, surprisingly one of the customers who owed $400 and was written off on June 30, paid their bill 4. On July 30, our fiscal year ends, the allowance for doubtful accounts has a balance of......

Words: 269 - Pages: 2

Bmgt220 Week 5 Homework Solutions

...BMGT220 Week 5 homework solutions Click Link Below To Buy: http://hwaid.com/shop/bmgt220-week-5-homework-solutions/ To the side of each senario, record the three required journal entries for a purchase at par, a premium purchase, and a purchase of bonds at discount. The first entry has been made for you. Dorchester Inc. invested $100,000 in 5-year bonds issued by Ace Brick Company. The bonds were purchased at par on January 1, 20X1, and bear interest at a rate of 8% per annum, payable semiannually. (a) Prepare the journal entry to record the initial investment on January, 20X1. (b) Prepare the journal entry that Dorchester would record on each interest date. (c) Prepare the journal entry that Dorchester would record at maturity of the bonds. Problem 2 Evaluate the following features or comments and decide if the description would pertain to a capital lease or an operating lease. Operating Lease Capital Lease The lessee reports the leased asset on its balance sheet x Payments are reported fully as rent expense x Ownership of the property passes to the lessee by the end of the lease term x The lease term is at least 75% of the remaining life of the property x Interest expense is measured and reported by the lessee x Depreciation of the leased asset is not reported by the lessee x At the inception of the lease, the lessee records both an asset and liability ......

Words: 452 - Pages: 2

Bmgt220 Week 7 Homework Solutions

...BMGT220 Week 7 homework solutions Click Link Below To Buy: http://hwaid.com/shop/bmgt220-week-7-homework-solutions/ Mike works for Baltimore Corp. Fact's related to Mike's paycheck are listed below. He is paid $5,000 once per month on the last day of the month. He has already been paid for January. You are computing February payroll. Mike's pay is subject to social security taxes at a 6.2% rate and Medicare at a 1.45% rate. He has not exceeded the annual base for social security taxes. Assume the company will remit this tax and any employer match on the 3rd business day after pay day. Assume Mike's income tax withholding to be equal to $15% for Federal and 5% for Maryland. Assume that both of these withheld taxes will be remitted on the 3rd business day after pay day. Baltimore Corp pays for workers' compensation insurance at a 3.5% rate. None of this cost is paid by the employee. Baltimore Corp provides its employees with health care insurance, and pays 80% of the $600 per employee monthly premium. The other 20% is paid by employees via payroll withholdings. Mike participates in a tax-sheltered deferred savings plan (401k plan) and has 6% of his gross pay withheld each month. Baltimore Corp provides a 100% matching contribution of the first 5% of worker pay. There is no match after 5%. This is sent to the investment company on the 10th of the following month. Baltimore Corp's payroll is subject to federal (FUTA) tax of 6.2% of the first $7,000 of......

Words: 348 - Pages: 2

Psyc 354 Homework 6 Solution

...PSYC 354 Homework 6 Solution http://homeworklance.com/downloads/psyc-354-homework-6-solution/ PSYC 354 HOMEWORK 6 Percentiles and Hypothesis Testing with Z-Tests When submitting this file, be sure the filename includes your full name, course and section. Example: HW6_JohnDoe_354B01 Be sure you have reviewed this module/week’s lesson and presentations along with the practice data analysis before proceeding to the homework exercises. Complete all analyses in SPSS, then copy and paste your output and graphs into your homework document file. Answer any written questions (such as the text-based questions or the APA Participants section) in the appropriate place within the same file. Part I: Concepts Questions 1–4 These questions are based on the Nolan and Heinzen reading and end-of-chapter questions. Part I: Questions 1-7 End-of-chapter problems: Answer the following questions. If applicable, remember to show work in your homework document for partial credit. 1) What are the 6 steps of hypothesis testing? (State the 6 steps) A) B) C) D) E) F) 2) Using the z table in Appendix B, calculate the following percentages for a z score of -0.45 2-a) % above this z score: Answer 2-b) % below this z score: Answer Work: Work: Page 1 of 7 PSYC 354 2-c) At least as extreme as this z score (on either side): Work: Answer 3) Rewrite each of the following percentages as probabilities, or p levels: 3-a) 5% = Answer 3-b) 95% = Answer 3-c) 43% =......

Words: 1500 - Pages: 6

Psyc 354 Homework 6 Solution

...PSYC 354 Homework 6 Solution Click Link Below To Buy: http://hwaid.com/shop/psyc-354-homework-6-solution/ Percentiles and Hypothesis Testing with Z-Tests When submitting this file, be sure the filename includes your full name, course and section. Example: HW6_JohnDoe_354B01 Be sure you have reviewed this module/week’s lesson and presentations along with the practice data analysis before proceeding to the homework exercises. Complete all analyses in SPSS, then copy and paste your output and graphs into your homework document file. Answer any written questions (such as the text-based questions or the APA Participants section) in the appropriate place within the same file. Part I: Concepts Questions 1–4 These questions are based on the Nolan and Heinzen reading and end-of-chapter questions. Part I: Questions 1-7 End-of-chapter problems: Answer the following questions. If applicable, remember to show work in your homework document for partial credit. 1) What are the 6 steps of hypothesis testing? (State the 6 steps) A) B) C) D) E) F) 2) Using the z table in Appendix B, calculate the following percentages for a z score of -0.45 2-a) % above this z score: Answer 2-b) % below this z score: Answer Work: Work: Page 1 of 7 PSYC 354 2-c) At least as extreme as this z score (on either side): Work: Answer 3) Rewrite each of the following percentages as probabilities, or p levels: 3-a) 5% = Answer 3-b) 95% = Answer 3-c) 43% = Answer ...

Words: 1501 - Pages: 7

Psyc 354 Homework 6 Solution

...PSYC 354 Homework 6 Solution http://homeworklance.com/downloads/psyc-354-homework-6-solution/ PSYC 354 HOMEWORK 6 Percentiles and Hypothesis Testing with Z-Tests When submitting this file, be sure the filename includes your full name, course and section. Example: HW6_JohnDoe_354B01 Be sure you have reviewed this module/week’s lesson and presentations along with the practice data analysis before proceeding to the homework exercises. Complete all analyses in SPSS, then copy and paste your output and graphs into your homework document file. Answer any written questions (such as the text-based questions or the APA Participants section) in the appropriate place within the same file. Part I: Concepts Questions 1–4 These questions are based on the Nolan and Heinzen reading and end-of-chapter questions. Part I: Questions 1-7 End-of-chapter problems: Answer the following questions. If applicable, remember to show work in your homework document for partial credit. 1) What are the 6 steps of hypothesis testing? (State the 6 steps) A) B) C) D) E) F) 2) Using the z table in Appendix B, calculate the following percentages for a z score of -0.45 2-a) % above this z score: Answer 2-b) % below this z score: Answer Work: Work: Page 1 of 7 PSYC 354 2-c) At least as extreme as this z score (on either side): Work: Answer 3) Rewrite each of the following percentages as probabilities, or p levels: 3-a) 5% = Answer 3-b) 95% = Answer 3-c) 43% =......

Words: 1500 - Pages: 6

Psyc 354 Homework 6 Solution

...PSYC 354 Homework 6 Solution Follow Below Link to Download Tutorial http://homeworklance.com/downloads/psyc-354-homework-6-solution/ For More Information Visit Our Website ( http://homeworklance.com/ ) Email us At: Support@homeworklance.com or lancehomework@gmail.com PSYC 354 HOMEWORK 6 Percentiles and Hypothesis Testing with Z-Tests When submitting this file, be sure the filename includes your full name, course and section. Example: HW6_JohnDoe_354B01 Be sure you have reviewed this module/week’s lesson and presentations along with the practice data analysis before proceeding to the homework exercises. Complete all analyses in SPSS, then copy and paste your output and graphs into your homework document file. Answer any written questions (such as the text-based questions or the APA Participants section) in the appropriate place within the same file. Part I: Concepts Questions 1–4 These questions are based on the Nolan and Heinzen reading and end-of-chapter questions. Part I: Questions 1-7 End-of-chapter problems: Answer the following questions. If applicable, remember to show work in your homework document for partial credit. 1) What are the 6 steps of hypothesis testing? (State the 6 steps) A) B) C) D) E) F) 2) Using the z table in Appendix B, calculate the following percentages for a z score of -0.45 2-a) % above this z score: Answer 2-b) % below this z score: Answer Work: Work: Page 1 of 7 PSYC 354 2-c) At least as......

Words: 1525 - Pages: 7