Just-In-Time Practice System Supply Current Stockless Item Start-up cost Annual stock-holding cost Annual operating cost $0 $2.5 $5 $3 $1.4 $0.2 $2 $1.5 $1.2 System life 8 years 8 years 8 years
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Fulton National Hospital is reviewing ways of cutting the costs for stocking medical supplies. Two new stockless systems are being considered to lower the hospital's holding and handling costs. The hospital's industrial engineer has compiled the relevant financial data for each system, as follows, where dollar values are in millions:
The system life of eight years represents the contract period with the medical
suppliers. If the hospital's MARR is 10%, which system is more economical?
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- CONCORD INC.Comparative Balance SheetsDecember 31 Assets 2022 2021 Cash $80,500 $48,700 Accounts receivable 87,900 38,600 Inventory 111,900 102,100 Prepaid expenses 29,400 27,900 Long-term investments 139,800 113,700 Plant assets 284,200 241,900 Accumulated depreciation (47,700) (49,100) Total $686,000 $523,800 Liabilities and Stockholders’ Equity Accounts payable $106,000 $63,700 Accrued expenses payable 16,500 21,200 Bonds payable 117,100 149,500 Common stock 219,000 175,100 Retained earnings 227,400 114,300 Total $686,000 $523,800 CONCORD INC.Income StatementFor the Year Ended December 31, 2022 Sales revenue $382,500 Less: Cost of goods sold $135,600 Operating expenses, excluding…Problem 1 (Adapted)The shareholders’ equity of Yelan Company showed the following account balances on December 31, 2018:Share capital, P100 5,000,000Share Premium 1,000,000Retained earnings 2,000,000Revaluation surplus 800,000 Compute the book value per share on December 31, 2018.Company A purchased 44% ($250,000) of Company b in common stock at an 8% discount. He paid $5,700 in commissions. At the end of the year Company A. should have an adjusted balance in his Company b. investment account of ______________ . a.Debit Investment $276,620 b.Investment Credit of $276,620 c.Debit to Investments of $304,780 d.Investment Credit of $304,780
- Problem #1 The following balance sheet and income statement data is given: 31-Dec Yr 2021 Yr 2020 Cash $4,300 $3,700 Accounts receivable (net) 22,000 23,400 Inventories 10,000 7,000 Plant assets (net) 75,000 86,000 Total assets 111,300 120,100 Accounts payable 12,370 11,100 Bonds payable 70,000 70,000 Total liabilities 82,370 81,100 Common stock, $10 par 65,000 59,000 Paid-in capital 10,000 10,000 Retained earnings 24,300 20,600 Total stockholders’ equity 99,300 89,600 Net credit sales 100,000 Cost of goods sold 60,350 Gross profit 39,650 Net income 14,000 REQUIRED: Compute the following ratios for 2021. NOTE: Copy and paste the information below into the answer box first and then show your calculation steps for this problem to receive credits. (1) Accounts receivable turnover=____________________ (2) Inventory turnover=__________________ (3) Accounts payable…Question 30. The balance sheets at the end of each of the first two years of operations indicate the following:2007 2006Total current assets $250,000 $225,000Total investments 50,000 25,000Total fixed assets 450,000 300,000Total current liabilities 100,000 37,500Total long-term liabilities 200,000 112,500Preferred 9% stock, $100 par 50,000 50,000Common stock, $10 par 250,000 250,000Paid-in capital in excess of par-common stock 25,000 25,000Retained earnings 125,000 125,000If net income is $50,000 and interest expense is $20,000 for 2007, what are the earnings per share on common stock for 2007?a. $1.82b. $2.00c. $2.80d. $1.20Problems:31. On August 1, Clayton Co. issued $1,300,000 of 20-year, 9% bonds, dated August 1, for $1,225,000. Interest is payable semiannually on February 1 and August 1. Present the entries to record the following transactions for the current year (a) Issuance of the bonds.(b) Accrual of interest and amortization of bond discount for the year, on December 31,…The revaluation surplus in the equity section of Light Company’s December 31,20x10 statement of financial position is a. 77,000 b.110,000 c. 123,443 d. 109,500 And journal entry
- tion 8Income statement for the year ended 31 December, 2019 of KKMTN Ghana Ltd2018 2019ȼ ‘000 ȼ ‘000Turnover 420,000 523,600Cost of sales (330,000) (417,200)Gross profit 89,000 106,400Expenses:Administration 44,600 50,200Selling and distribution 15,400 (60,000) 19,600 (69,800)Profit before interest 29,000 36,600Debenture interest - (2,800)Net profit before tax 29,000 33,800Taxation (8,000) (10,000)Net Profit after tax 21,000 23,800Ordinary dividend paid 8,400 9,250Ordinary shares issued 12 million and trading at ȼ3 each as at yesterday onGSE.You are required to compute the following investment ratios:a). Earnings per shareb). Dividend per sharec). Payout ratiod). Price earnings ratioe). Earnings yieldJournal entries a. $30,000 cash was borrowed on a five-year 10% note payable, dated 5/1/2021. b. $13,000 cash was paid for land. c. Earned $118,000 in service revenues for 2020. $53,000 on account and the remainder in cash. d. Purchased Inventory with $15,000 cash. e. Sold $12,000 of inventory for $17,000 cash. f. Issued 4,000 additional shares of $0.50 par value common stock for cash at $1 per share on 1/2/2021. g. Incurred $114,000 in miscellaneous operating expenses for 2021, $20,000 on credit and the rest paid in cash. h. Collected $34,000 owned on account. i. Purchased $17,000 supplies on account. j. Paid $26,000 accounts payable. k. A piece of equipment costing $3,000 was stolen. The insurance company reimbursed the company $1,000. The accumulated depreciation on the equipment amounted to $1,000 l. Bid on a $2,000 one-year service contract. If accepted, work is to begin on 2/1/2022. m. $103,000 was paid for employee wages. This included wages owed from 2021. n. Declared and paid…ABC TradersTrial Balance at 31 December 20.1 Dr. Cr.Purchases/Sales 843,800 1,394,200 Return in and Out 22,200 33,300Discounts Allowed and Received 4,400 5,500Debtors and Creditors 66,000 77,000Drawing and Capital 136,700 410,000Stock 1 January 20.1 55,500 Carriage on Sales 21,000Carriage on Purchases 34,500Wages and Salaries…
- Ch12.3 Variour Inc recently completed its stock take and have provided you the below informationCategoryUnits inInventoryCost perunit NRV per unitWA1 85 $105.00 $100.00WB1 110 $80.00 $85.00WC1 135 $190.00 $195.00WD1 150 $45.00 $50.00WE1 165 $200.00 $190.00Required:Calculate the total value of Kentex' closing InventoryYear 2 Year 1Total current assets $600,000 $560,000Total investments 60,000 40,000Total property, plant, and equipment 900,000 700,000Total current liabilities 125,000 65,000Total long-term liabilities 350,000 250,000Preferred 9% stock, $100 par 100,000 100,000Common stock, $10 par 600,000 600,000Paid-in capital in excess of par—Common stock 75,000 75,000Retained earnings 310,000 210,000 Using the balance sheets for Kellman Company, if net income is $250,000 and interest expense is $20,000 for Year 2, and the market price of common shares is $30, what is the price-earnings ratio on common stock for Year 2? (Round intermediate calculation to two decimal places and final answers to one decimal place.)Post closing balance debit credit Non current assets 1 414 000 Current assets 412 000 Ordinary share capital 1 300 000 Retained earnings 272 400 Non current liabilities 180 000 Current liabilities 74 000 1 826 400 1 826 400 Until June 20x2, 1 300 000 ordinary shares had been issued, for N$1 each. The following equity transaction took place during the year ended 30 June 20x3 On 1 July 20x2, the company issued 200 000 12% preference shares for N$1.25 each. Share issue costs of N$6 150 were incurred and paid. On 30 September 20x2 the company issued 300 000 ordinary shares for N$1.25 per share. Share issue costs of N$15 625 were incurred and paid. On 30 December 20x2 the directors authorized and declared a ordinary dividend of 50 cents per share. The profit for the period ended 30 June 20x3 amounted to N$112 800. On June 20x3 the directors authorized a capitalization of one ordinary share of N$ for every 8 held, The preference dividend was paid on…