basic level profession​

Answer:

The basic level profession

Blaine Air Transport Service, Inc., providing air delivery service for businesses, has been in operation for three years. The following transactions occurred in February:

February 1 Paid $275 for rent of hangar space in February.
February 2 Purchased fuel costing $490 on account for the next flight to Dallas.
February 4 Received customer payment of $820 to ship several items to Philadelphia next month.
February 7 Flew cargo from Denver to Dallas; the customer paid $910 for the air transport.
February 10 Paid $175 for an advertisement in the local paper to run on February 19.
February 14 Paid pilot $2,300 in wages for flying in January (recorded as expense in January).
February 18 Flew cargo for two customers from Dallas to Albuquerque for $3,800; one customer paid $1,600 cash and the other asked to be billed.
February 25 Purchased on account $2,550 in spare parts for the planes.
February 27 Declared a $200 cash dividend to be paid in March.

Required:
Prepare journal entries for each transaction. Be sure to categorize each account as an asset (A), liability (L). stockholders' equity (SE). revenue (R). or expense (E).

In this exercise, decisions will be made in ethically ambiguous situations and then analyzed. As in the real world, all the background information on each situation will not be available, and assumptions will need to be made.It is recommended that the exercise be completed before reading the following mat e rial, and then revisited after you have completed the chapter.Name:Date:Part ISTEP 1Make decisions in the following situations. You will not have all the background information about each situation; instead you should make whatever assumptions you feel you would make if you were actually confronted with the decision choices described. Select the decision choice that most closely represents the decision you feel you would make personally. You should choose decision choices even though you can envision other creative solutions that were not included in the exercise.Situation 1. You are taking a very difficult chemistry course, which you must pass to maintain your scholarship and to avoid damaging your application for graduate school. Chemistry is not your strong suit, and because of a just-below-failing average in the course, you must receive a grade of 90 or better in the final examination, which is 2 days away. A janitor who is aware of your plight informs you that he found the master copy of the chemistry final in a trash barrel and saved it. He will make it available to you for a price, which is high, but which you could afford. What would you do?(a) I would tell the janitor thanks, but no thanks.(b) I would report the janitor to the proper officials.(c) I would buy the examination and keep it to myself.(d) I would not buy the examination myself, but I would let some of my friends, who are also flunking the course, know that it is available.
Situation 2. You have been working on some complex analytical data for 2 days now. It seems that each time you think you have them completed, your boss shows up with a new assumption or another "what if" question. If you only had a copy of a new software program for your personal computer, you could plug in the new assumptions and revise the estimates with ease.Then a colleague offers to let you make a copy of some software that is copyrighted. What would you do?(a) I would readily accept my friend’s generous offer and make a copy of the software.(b) I would decline to copy it and plug away manually on the numbers.(c) I would decide to go buy a copy of the software myself for $300 and hope I would be reimbursed by the company in a month or two.(d) I would request another extension on an already overdue project date.Situation 3. Your small manufacturing company is in serious financial difficulty. A large order of your products is ready to be delivered to a key customer, when you discover that the product is simply not right. It will not meet all performance specifications, will cause problems for your customer, and will require rework in the field; but this, you know, will not become evident until after the customer has received and paid for the order. If you do not ship the order and receive the payment as expected, your business may be forced into bankruptcy. And if you delay the shipment or inform the customer of these problems, you may lose the order and also go bankrupt. What would you do?(a) I would not ship the order and place my firm in voluntary bankruptcy.(b) I would inform the customer and declare voluntary bankruptcy.
(c) I would ship the order and inform the customer after I received payment.(d) I would ship the order and not inform the customer.

On June 30, 2021, Georgia-Atlantic, Inc. leased a warehouse equipment from IC Leasing Corporation. The lease agreement calls for Georgia-Atlantic to make semiannual lease payments of $464,149 over a four-year lease term, payable each June 30 and December 31, with the first payment at June 30, 2021. Georgia-Atlantic's incremental borrowing rate is 8%, the same rate IC uses to calculate lease payment amounts. Amortization is recorded on a straight-line basis at the end of each fiscal year. The fair value of the equipment is $3.2 million. (FV of $1, PV of $1, FVA of $1, PVA of $1, FVAD of $1 and PVAD of $1) (Use appropriate factor(s) from the tables provided.)Required:1. Determine the present value of the lease payments at June 30, 2021 that Georgia-Atlantic uses to record the right-of-use asset and lease liability.2. What pretax amounts related to the lease would Georgia-Atlantic report in its balance sheet at December 31, 2021?3. What pretax amounts related to the lease would Georgia-Atlantic report in its income statement for the year ended December 31, 2021?(For all requirements, enter your answers in whole dollars and not in millions. Round your final answers to the nearest whole dollar.)

a. Using the information below, and assuming that you want to maintain your purchasing power from 2011, what nominal wage should you demand in each of the given years? Instructions: Round your answers to 2 decimal places. CPI Values and Nominal Wages YearCPINominal Wage (dollars)2011211.7$78,5202012213.5370902013223.82014221.1 b. Assume that your annual wage in 2014 was $82,920. This represents

Please help me!! I don’t understand :(

How did the recession influence the drug-naming process?

What is a balance sheet?

Western University has only one women’s softball scholarship remaining for the coming year. The final two players that Western is considering are Allison Fealey and Emily Janson. The coaching staff has concluded that the speed and defensive skills are virtually identical for the two players, and that the final decision will be based on which player has the best batting average. Crosstabulations of each player’s batting performance in their junior and senior years of high school are as follows:
Allison Fealey
Outcome Senior Junior
Hit 15 75
No Hit 25 175
Total At-Bats 40 250
Emily JansonOutcome Senior JuniorHit 70 35No Hit 130 85Total At-Bats 200 120
Western University has only one women’s softball scholarship remaining for
A player’s batting average is computed by dividing the number of hits a player has by the total number of at-bats. Batting averages are represented as a decimal number with three places after the decimal.
a. Calculate the batting average for each player in her junior year. Then calculate the batting average of each player in her senior year. Using this analysis, which player should be awarded the scholarship? Explain.
b. Combine or aggregate the data for the junior and senior years into one crosstabulation as follows:
Western University has only one women’s softball scholarship remaining for
Calculate each player’s batting average for the combined two years. Using this analysis, which player should be awarded the scholarship? Explain.
c. Are the recommendations you made in parts (a) and (b) consistent? Explain any apparentinconsistencies

An error understated Power Corporation​'s December​ 31, 2018​, ending inventory by​ $54,000. What effect will this error have on total assets and net income for 2018​?

Stine Corp.'s trial balance reflected the following account balances at December 31, 2014: Accounts receivable (net) $19,000 Trading securities 6,000 Accumulated depreciation on equipment and furniture 15,000 Cash 16,000 Inventory 30,000 Equipment 25,000 Patent 4,000 Prepaid expenses 2,000 Land held for future business site 18,000 In Stine's December 31, 2014 balance sheet, the current assets total is:__________

• One-pound baby carrots, $0.99
Two pounds baby carrots, $1.89
One-pound full-sized carrots, $0.68
What is the price per pound for each

Green Cabinets is a custom cabinet builder. They recently completed a set of kitchen cabinets (Job Number 1478), as summarized below Job Number:1478 Date Started: 4/07/20x8 Date Completed: 4/22/20x8 Description: Cherry kitchen cabinets Applied Manufacturing Overhead Hours Direct Materials Direct Labor Req No Ticket 128 Amount Hours Amount Rate Amount $375 235 385 18 414 130 588 391 25 395 140 133 9 243 401 215 52 Total 965 Total $1,244 Cost Summary Direct Material Cost 965 Direct Labor Cost 1,244 Applied Manufacturing Overhead Total Cost Green Cabinets applies overhead to jobs at a rate of $12 per direct labor hour.
(a) How much overhead would be applied to Job Number 1478 Applied Manufacturing Overhead
(b) What is the total cost of Job Number 1478?

scope definition is among the first tasks that must happen in projects. how is project scope defined

MullerB Company’s employees earn vacation time at the rate of 1 hour per 40-hour work period. The vacation pay vests immediately, meaning an employee is entitled to the pay even if employment terminates. During 2018, total wages paid to employees equaled $909,000, including $9,000 for vacations actually taken in 2018, but not including vacations related to 2018 that will be taken in 2019. All vacations earned before 2018 were taken before January 1, 2018. No accrual entries have been made for the vacations.

Required:
Prepare the appropriate adjusting entry for vacations earned but not taken in 2018.

Presented below are a number of balance sheet accounts of Deep Blue Something, Inc.
A. Debt Investments.B. Treasury Stock.C. Common Stock.D. Dividends Payable.E. Accumulated Depreciation—Equipment.F. Construction in Process.G. Petty Cash.H. Interest Payable.I. Deficit.J. Equity Investments (ownership stake of less than 20%).K. Income Taxes Payable.L. Unearned Subscriptions Revenue.M. Work in Process.N. Salaries and Wages Payable.Instructions:
For each of the accounts above, indicate the proper balance sheet classification. In the case of borderline items, indicate the additional information that would be required to determine the proper classification.

12.
Planning is a
a. Useless Function
b. Obsolete Concept
c. Mental Exercise
d. One time process

Assuming the same interest rate, amount borrowed, and amortization period, which compounding (payment) period - monthly or annually - would result in less interest being paid by the borrower? Why?

5.85 percent coupon bond with 10 years left to maturity is priced to offer a yield to maturity of 6.7 percent. You believe that in one year, the yield to maturity will be 6.0 percent. What is the change in price the bond will experience in dollars

Presented below are a number of balance sheet accounts of Deep Blue Something, Inc. For each of the accounts below, indicate the proper balance sheet classification.
Balance Sheet Accounts
Balance Sheet Classification
(a) Investment in Preferred Stock.
Presented below are a number of balan Current AssetCurrent LiabilityProperty, Plant, and EquipmentRetained EarningsShareholders’ Equity
(b) Treasury Stock.
Presented below are a number of balan Current AssetCurrent LiabilityProperty, Plant, and EquipmentRetained EarningsShareholders’ Equity
(c) Common Stock.
Presented below are a number of balan Current AssetCurrent LiabilityProperty, Plant, and EquipmentRetained EarningsShareholders’ Equity
(d) Dividends Payable.
Presented below are a number of balan Current AssetCurrent LiabilityProperty, Plant, and EquipmentRetained EarningsShareholders’ Equity
(e) Accumulated Depreciation-Equipment.
Presented below are a number of balan Current AssetCurrent LiabilityProperty, Plant, and EquipmentRetained EarningsShareholders’ Equity
(f)(1) Construction in Process (Constructed for another party).
Presented below are a number of balan Current AssetCurrent LiabilityProperty, Plant, and EquipmentRetained EarningsShareholders’ Equity
(f)(2) Construction in Process (Constructed for the use of Deep Blue Something, Inc.).
Presented below are a number of balan Current AssetCurrent LiabilityProperty, Plant, and EquipmentRetained EarningsShareholders’ Equity
(g) Petty Cash.
Presented below are a number of balan Current AssetCurrent LiabilityProperty, Plant, and EquipmentRetained EarningsShareholders’ Equity
(h) Interest Payable.
Presented below are a number of balan Current AssetCurrent LiabilityProperty, Plant, and EquipmentRetained EarningsShareholders’ Equity
(i) Deficit.
Presented below are a number of balan Current AssetCurrent LiabilityProperty, Plant, and EquipmentRetained EarningsShareholders’ Equity
(j) Equity Investments (trading).
Presented below are a number of balan Current AssetCurrent LiabilityProperty, Plant, and EquipmentRetained EarningsShareholders’ Equity
(k) Income Taxes Payable.
Presented below are a number of balan Current AssetCurrent LiabilityProperty, Plant, and EquipmentRetained EarningsShareholders’ Equity
(l) Unearned Subscription Revenue.
Presented below are a number of balan Current AssetCurrent LiabilityProperty, Plant, and EquipmentRetained EarningsShareholders’ Equity
(m) Work in Process.
Presented below are a number of balan Current AssetCurrent LiabilityProperty, Plant, and EquipmentRetained EarningsShareholders’ Equity
(n) Salaries and Wages Payable.
Presented below are a number of balan Current AssetCurrent LiabilityProperty, Plant, and EquipmentRetained EarningsShareholders’ Equity

You are a management consultant with McKenzie and Company. You specialize in helping companies accurately identify and acquire the appropriate production inputs for their operations. Based on your extensive experience, you know that most production inputs fall into one or more of the following categories: materials and labor resources or information resources. However, the degree to which of these resources will be the dominant input depends on the type of business. In order to streamline your future projects, you have decided to put together a list of business types and their dominant category of production inputs. For each of the business types listed below, indicate which of the two production input categories would be most dominant for that business type.

a. Gold mining company
b. An online news publisher
c. Commercial bank
d. Automobile manufacturer
e. Accounting and bookkeeping firm
f. Food processing company

Assume the perpetual inventory system is used. Determine the costs assigned to ending inventory when costs are assigned based on the weighted average method. (Round your per unit costs to 2 decimal places.)

Consider the following transactions for Huskies Insurance Company:
a. Equipment costing $42,000 is purchased at the beginning of the year for cash. Depreciation on the equipment is $7,000 per year.
b. On June 30, the company lends its chief financial officer $50,000; principal and interest at 7% are due in one year.
c. On October 1, the company receives $16,000 from a customer for a one-year property insurance policy. Deferred Revenue is credited.
Required: For each item, record the necessary adjusting entry for Huskies Insurance at its year-end of December 31. No adjusting entries were made during the year. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field. Do not round intermediate calculations.)

The CIS Department at Tiny College maintains the Free Access to Current Technology (FACT) library of e-books. FACT is a collection of current technology e-books for use by faculty and students. Agreements with the publishers allow patrons to electronically check out a book, which gives them exclusive access to the book online through the FACT website, but only one patron at a time can have access to a book. A book must have at least one author but can have many. An author must have written at least one book to be included in the system but may have written many. A book may have never been checked out but can be checked out many times by the same patron or different patrons over time. Because all faculty and staff in the department are given accounts at the online library, a patron may have never checked out a book or they may have checked out many books over time. To simplify determining which patron currently has a given book checked out, a redundant relationship between BOOK and PATRON is maintained.

Required:
Write a query that will display all the Books that were published in 2016.

Price Shares (millions) 1/1/16 1/1/17 1/1/18 Douglas McDonnell355 $86 $91 $103 Dynamics General455 55 52 66 International Rockwell270 84 73 87 a. Calculate the initial value of the index if a price-weighting scheme is used.

A Missouri job shop has four departmentsmachining ​(M), dipping in a chemical bath​ (D), finishing​ (F), and plating ​(P)assigned to four work areas. The operations​ manager, Mary​ Marrs, has gathered the following data for the movement of material. The number of workpieces moved yearly between work areas​ are:

M D F P
M
D
F
P

It costs $1 to move 1 workpiece 1 foot in the job shop. For the layout design of the job​ shop, Mary has the current layout​ (Plan A) and two proposals​ (Plan B and Plan​ C).

Required:
a. LAYOUT PLAN A​: Distance between work areas​ (departments) in​ feet:

M D F P
M __ 21 13 19
D __ __ 7 11
F __ __ __ 4
P __ __ __ __

The yearly total material handling cost of the current layout presented in PLAN A​ = ​___________$ nothing ​(enter your response as a whole​ number).

Estella Osage publishes an online travel magazine. In need of​cash, the business applies for a loan with National Bank. The bank requires borrowers to submit financial statements. With little knowledge of​ accounting, Estella​ Osage, the​ owner, does not know how to proceed.The explanations for how to prepare each​ statementRequirements:1. What are the four financial statements that the business will need to​ prepare?2. Is there a specific order in which the financial statements must be​ prepared?3. Explain how to prepare each statement.Requirements​ 1, 2, and 3. What are the four financial statements that the business will need to​ prepare? Is there a specific order in which the financial statements must be​prepared? Explain how to prepare each statementIn the first​ column, select the four financial statements that the business will need to prepare. In the second​ column, select the number corresponding with the order the financial statements must be prepared. If there is no specific​ order, select​ "n/a" for each statement. In the third​ column, select the letter grouping that corresponds with the proper explanations for how to prepare each statement.1. Financial statement 2. Order 3. How to preparea. Each asset account is listed separately and then totaled. Cash is always listed first.b. Each dollar amount is calculated by evaluating the cash column on the transaction detail.c. Each expense account is listed separately from largest to smallest and then subtotaled if necessary.d. Financing activities include cash contributions by the owner and owner withdrawals of cash.e. Investing activities include the purchase and sale of land and equipment.f. Liabilities are listed separately and then totaled. Liabilities that are to be paid first are listed first.g. Net income is calculated as total revenues minus total expenses.h. Operating activities involve cash receipts for services provided and cash payments for expenses paid.i. The beginning capital is listed first and will always be the ending capital from the previous time period.j. The ending cash balance must match the cash balance on the balance sheet.k. The header includes the name of the​ business, the title of the​statement, and the​ date, listed as a period of time.  l. The header includes the name of the​ business, the title of the​statement, and the​ date, listed as a specific date.m. The​ owner's contribution and net income are added to the beginning capital.n. The​ owner's equity is taken directly from the statement of​owner's equity.o. The​ owner's withdrawals are subtracted from capital. If there had been a net​loss, this would also be subtracted.p. The revenue accounts are always listed first and then subtotaled if necessary.q. This statement must always balance. Assets​ = Liabilities​ + Equity

Calculating costs
Rosa is working for a consulting firm making $50,000 per year but considers starting her own consulting company. Rosa has determined that to launch the business, she needs to invest $80,000 of her own funds. The annual cost of running the business will include $50,000 for the rent of the office space, $180,000 for employee wages, and $8,000 for materials and utilities. Rosa plans to manage the business, which means that she will have to quit her current job. Suppose that the interest rate (or rate of return) on investments in the economy is 5%.

( Please Help thank you.)

Franchisors in foreign countries must be aware of
A: Ease of communication
B: Shared currency Values
C. Political Risk
D: shared values and customs

Tandy Company was issued a charter by the state of Indiana on January 15 of this year. The charter authorized the following:

Common stock, $6 par value, 120,000 shares authorized
Preferred stock, 11 percent, par value $13 per share, 5,000 shares authorized

During the year, the following transactions took place in the order presented:

a. Sold and issued 21,900 shares of common stock at $26 cash per share.
b. Sold and issued 2,800 shares of preferred stock at $30 cash per share.
c. At the end of the year, the accounts showed net income of $41,600. No dividends were declared.

Required:
Prepare the stockholders’ equity section of the balance sheet at the end of the year.

Pearl Corporation factors $270,300 of accounts receivable with Kathleen Battle Financing, Inc. on a with recourse basis. Kathleen Battle Financing will collect the receivables. The receivables records are transferred to Kathleen Battle Financing on August 15, 2020. Kathleen Battle Financing assesses a finance charge of 2% of the amount of accounts receivable and also reserves an amount equal to 4% of accounts receivable to cover probable adjustments.

Required:
a. Assume that the conditions are met for a transfer of receivables with recourse to be accounted for as a sale. Prepare the journal entry on August 15, 2020, for Pearl to record the sale of receivables, assuming the recourse obligation has a fair value of $4,280.
b. What conditions must be met for a transfer of receivables with recourse to be accounted for as a sale?

The Sheridan Inc., a manufacturer of low-sugar, low-sodium, low-cholesterol TV dinners, would like to increase its market share in the Sunbelt. In order to do so, Sheridan has decided to locate a new factory in the Panama City area. Sheridan will either buy or lease a site depending upon which is more advantageous. The site location committee has narrowed down the available sites to the following three very similar buildings that will meet their needs.
Building A: Purchase for a cash price of $612,100, useful life 26 years.
Building B: Lease for 26 years with annual lease payments of $71,490 being made at the beginning of the year.
Building C: Purchase for $655,200 cash. This building is larger than needed; however, the excess space can be sublet for 26 years at a net annual rental of $6,850. Rental payments will be received at the end of each year. The Sheridan Inc. has no aversion to being a landlord.
In which building would you recommend that The Sheridan Inc. locate, assuming a 11% cost of funds?