The following selected accounts from the Bramble Corp.’s general ledger are presented below for the year ended December 31, 2022:

Advertising expense $54,000 Interest revenue $32,000
Common stock 249,000 Inventory 66,000
Cost of goods sold 1,084,000 Rent revenue 24,000
Depreciation expense 124,000 Retained earnings 534,000
Dividends 149,000 Salaries and wages expense 674,000
Freight-out 24,000 Sales discounts 8,600
Income tax expense 69,000 Sales returns and allowances 43,000
Insurance expense 15,000 Sales revenue 2,399,000
Interest expense 69,000

Required:
Prepare a multiple-step income statement BRAMBLE CORP.

Answer:

Bramble Corp.

Multiple-step Income Statement

                                                                                                     $

Sales revenue                                                                       2,399,000

Sales returns and allowances                                                  (43,000)

Net Sales Revenue                                                               2,356,000

Less Cost of goods sold                                                      (1,084,000)

Gross Profit                                                                             1,272,000

Less Operating Expenses :

Selling and Distribution Expenses

Advertising expense                                         54,000

Freight-out                                                         24,000

Sales discounts                                                    8,600          (86,600)

Administrative Expenses

Depreciation expense                                     124,000

Salaries and wages expense                         674,000

Insurance expense                                            15,000         (813,000)

Net Operating Income                                                            372,400

Less Non- Operating Expenses :

Interest revenue                                               (32,000)

Rent revenue                                                    (24,000)

Income tax expense                                          69,000

Interest expense                                                69,000       (82,000)

Net Income/(Loss)                                                                  290,400

Explanation:

The multiple-step income statement has been prepared above.

What is the growth rate of nominal​ GDP? Y0 real GDP= $1200 (in millions) Y1 real GDP= $1400 (in millions) Y0 price level= 125 Y1 price level= 140

Your uncle Abdallah is celebrating his 33th birthday today and wants to start saving for his retirement at the age of 63. He wants to be able to withdraw AED 100,000 from his saving account on each birthday for 20 years following his retirement. The first withdraw will be on his 64th birthday. Your uncle intends to invest his money in a local bank in Abu Dhabi that offers 7% interest rate per year. He wants to make equal payments on each birthday into the account established in the local bank for his retirement fund.
1. If your uncle starts making these deposits on his 33th birthday and continues to make deposits until he is 63, what amount must he deposit annually to be able to make the desired withdrawals at retirement?
2. If your uncle has just inherited a large sum of money, so instead of making equal payments, he has decided to pay one lump sum payment on his 33th birthday to cover his retirement needs. What amount does he have to deposit?
3. If your uncle’s employer informs your uncle that he will contribute AED 1,000 to your uncle account every year. Also, if your uncle expects AED100,000 from another investment on his 53th birthday, which he will also put into the retirement account. What amount must he deposit annually now to be able to make the desired withdrawals at retirement.

Clean Tel, Inc. is considering investing in an 11-year project with annual cash inflows of $1,000,000. These cash inflows have an initial investment of $7,139,000. At what discount rate would this present value be the same as the initial investment

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

Year1-Year Forward Rate 15.8% 26.4% 37.1% 47.3% 57.4%What would the yield to maturity be on a four-year zero-coupon bond purchased today

Business standards should be based on which of the following?​

The ultimate goal of operations management is to provide high-quality goods and services instantaneously in response to customer demand. Over the years, low cost often came at the expense of quality and flexibility. Furthermore, suppliers didn't always deliver when they said they would, so manufacturers had to carry large inventories of raw materials and components to keep producing. Such inefficiencies made U.S. companies vulnerable to foreign competitors who were using more advanced production techniques As a result of new global competition, companies have had to make a wide variety of high-quality custom-designed products at a very low cost. Something had to change on the production floor to make that possible. Several major developments have made U.S.companies more competitive:
(1) computer-aided design and manufacturing
(2) flexible manufacturing,
(3) lean manufacturing, and
(4) mass customization,
(5) CAD
(6) CAM
Match the company or role with the most appropriate manufacturing technique.
Dress designer: In addition to helping in the design of products, the use of this system allows designers to work in three dimensions
Shoe designer: The manufacturer programs the computer to make a simple design change, and then that change is readily Incorporated into production
Purse designer: Software programs unite these two computer-aided support systems. While the software is expensive, it cuts as much as 80 percent of the time needed to program machines to make parts.
Motor starters: Orders come in daily and, within 24 hours, the company's machines and robots manufacture, test, and package the starters-which are untouched by human hands. This system is so efficient it can even accommodate a special order (even a single item) in the assembly without slowing down the process.
Toyota corporation: This company utilizes the strategy of using half the human effort, halving the defects in the finished product, using one-third of the normal engineering effort, using half the floor space, and carrying 90 percent less inventory
Dell computers: Dell has set up its manufacturing process so that all its computers can be quickly assembled to individual customer orders.

Does anybody know if CPA is profitable. I have heard that it is an easy way to make a side income whilst at college. Even a full time income for some ?

On December 31, 2012, Mass Construction Inc. signs a contract with the state of Massachusetts Department of Transportation to manufacture a bridge over the Merrimack. Mass Construction anticipates the construction will take three years. The company's accountants provide the following contract details relating to the project:
Contract price $520 million
Estimated construction costs $300 million
Estimated total profit $220 million
During the three-year construction period, Tri-State incurred costs as follows:
2013 $ 30 million
2014 $180 million
2015 $ 90 million
Tri-State uses the percentage of completion method to recognize revenue. Which of the following represent the revenue recognized in 2013, 2014, and 2015?
A. $52 million, $312 million, $156 million
B. $12 million, $72 million, $36 million
C. $140 million, $140 million, $140 million
D. $30 million, $180 million, $90 million
E. None of the above

which practice would you recommend that an inventory manager use for successful inventory planning?

Hilary sells bottled water from a small stand by the beach. On the last day of summer vacation, many people are on the beach, and Hilary realizes that she can make a lot more money this day if she hires someone to walk up and down the beach selling water. She finds a college student named Edison and makes him the following offer: They'll each sell water all day and split their earnings (revenue minus the cost of water) equally at the end of the day. Hilary knows that if they both work hard, Edison will earn $90 on the beach and Hilary will earn $240 at her stand, so they will each take home half of their total revenue: If Edison shirks, he'll generate only $60 in earnings. Hilary does not know that Edison estimates his personal cost (or disutility) of working hard as opposed to shirking at $30. Once out of Hilary's sight, Edison faces a dilemma: work hard (put in full effort) or shirk (put in low effort).In terms of Edison's total utility, it is worse for him to ____(work hard or shirk). Taking into account the loss in utility that working hard brings to Edison, Hilary and Edison together ___ (are or are not) better off if Edison shirks instead of working hard.Hilary knows Edison will shirk if unsupervised. She considers hiring her good friend Carrie to keep an eye on Edison. The most Hilary should be willing to pay Carrie to supervise Edison, assuming supervision is sufficient to encourage Edison to work hard, is ____ .
a. 55.
b. 30.
c. 25.
d. 20.It turns out that Hilary's friend Carrue is unavilable that day, so Hilary cannot find a reliable person to watch Edison. Which of the following arrangements will ensure that Edison works hard without making Hilary any worse off than she is when Edison shirks?A. Pay Edison $20, regardless of how many bottles of water he sells.B. Allow Edison to keep 75% of the revenue from the bottles of water he sells instead of 50%.C. Allow Edison to keep 57% of the revenue from the bottles of water he sells instead of 50%.D. Make Edison promise to work hard.

ABC Inc. made a $25,000 sale on account with the following terms: 2/10, n/30. If the company uses the net method to record sales made on credit, what is/are the debit(s) in the journal entry to record the sale

HELP ME ASAP!!
_______ is the design of buildings and creation of building plans, or
blueprints.
O Construction
O Marketing
O Architecture
O Drafting

A steel rolling mill can produce I-beams at the rate of 20 tons per week. Customer demand for the beams is 5 tons per week. To produce the I-beams, the mill must go through a setup that requires changing to the required rolling patterns. Each setup costs the mill $10,000 in labor and lost production. The I-beam cost the mill $2,000 per ton and has an inventory holding rate of 25 percent. Assume the plant operates for 50 weeks in a year. Using Microsoft Excel, calculate the following:
a) the optimal production batch size of the mill.
b) The maximum (highest) inventory level at the plant
c) The annual inventory holding cost
d) The annual setup cost of the plant
e) The annual product cost f) Total Annual Inventory Cost (TAIC)

Antwaun wants to purchase new photography equipment. He sees an advertisement on a store's website for a 35% sale on 85mm lenses this weekend . If the original price of the lens he wanted is $599, what is the new price of the lens once it goes on sale ?​

On September 1 of the current year,Scots Company experienced a flood that destroyed the company's entire inventory.Because the company had not completed its month end reporting for August,it must estimate the amount of inventory lost using the gross profit method.At the beginning of August,the company reported beginning inventory of $215,450.Inventory purchased during August was $192,530.Sales for the month of August were $542,500.Assuming the company's typical gross profit ratio is 40%,estimate the amount of inventory destroyed in the flood.A) $87,480B) $134,520C) $109,980D) $82,480E) $81,480

Fethe's Funny Hats is considering selling trademarked, orange-haired curly wigs for University of Tennessee football games. The purchase cost for a 2-year franchise to sell the wigs is $20,000. If demand is good (40% probability), then the net cash flows will be $26,000 per year for 2 years. If demand is bad (60% probability), then the net cash flows will be $3,000 per year for 2 years. Fethe's cost of capital is 13%. Do not round intermediate calculations.

Required:
a. What is the expected NPV of the project?
b. if Fethe makes the investment today, then it will have the option to renew the franchise fee for 2 more years at the end of Year 2 for an additional payment of $20,000.

Four Types of Organizational Culture Organizational culture is a system of shared beliefs and values that develops within an organization and guides its members' behavior. Culture can vary considerably across organizations, with each placing different emphases on risk-taking, treatment of employees, teamwork, rules and regulations, conflict and criticism, and rewards. This activity is important because different types of cultures are better suited to achieving different strategic goals, and managers can use this knowledge to their benefit.
The goal of this activity is to challenge your knowledge of the four types of organizational culture.
Read the description of an organization's culture and write each name to the type of organizational culture it best depicts.
Daveed Miranda Olivia
Caprice Joseph Aaron
Wallace Leslie
Clan Adhocracy Hierarchy Market
1. Daveed- Works for a real estate company with a culture that values employees'ability to focus on the customer, react quickly, an deliver quality work on time.
2. Miranda- works for a new entrepreneurial company that is characterized as being creative, making innovative products, and being adaptable in the marketplace.
3. Olivia works for an investment firm with a culture that focuses on productivity and profits over employee development and satisfaction.
4. Caprice- works for a regional airline whose corporate culture encourages employees to collaborate and become involved to increase their job satisfaction.
5. Joseph- works for a telecommunications company whose culture devotes considerable resources to hiring and developing employees.
6. Aaron- works for a computer company whose corporate culture is characterized by a formalized, structured work environment aimed at achieving effectiveness.
7. Wallace- works for an advertising agency whose corporate culture encourages employees to take risks and experiment with new ways of getting things done.
8. Leslie- works for a pharmaceutical company with a corporate culture that institutes a variety of control mechanisms to measure efficiency, timeliness, and reliability in the creation and delivery of products.

Journalize the following transactions by Bramble Printing Company. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select ""No Entry"" for the account titles and enter 0 for the amounts.)
1. Stockholders invest $87,000 cash to start the business.
2. Purchased three digital copy machines for $445,000, paying $108,000 cash and signing a 5-year, 6% note for the remainder.
3. Purchased $4,000 paper supplies on credit.
4. Cash received for photocopy services amounted to $7,300.
5. Paid $400 cash for radio advertising.
6. Paid $950 on account for paper supplies purchased in transaction 3.
7. Dividends of $1,400 were paid to stockholders.
8. Paid $2,100 cash for rent for the current month.
9. Received $2,200 cash advance from a customer for future copying.
10. Billed a customer for $350 for photocopy services completed.
(The Titles that are used on this chart are No. Account Titles and Explanation, Debit, Credit)
*LIST OF ACCOUNTS*
Accounts Payable, Accounts Receivable, Advertising Expense, Bonds Payable, Buildings, Cash, Common Stock, Dividends, Equipment, Gasoline Expense, Income Tax Expense, Income Taxes Payable, Insurance Expense, Land, Maintenance and Repairs expense, Mortgage Payable, No Entry, Notes Payable, Notes Receivable, Prepaid Insurance, Prepaid Rent, Rent expense, Rent revenue, repair services, retained earning, sales and wages expense, salaries and wages payable, sales revenue, service revenue, supplies, supplies expense, unearned service revenue, utilities expense, website

On April 1st, Bob the Builder entered into a contract of one-month duration to build a barn for Nolan. Bob is guaranteed to receive a base fee of $5,000 for his services in addition to a bonus depending on when the project is completed. Nolan created incentives for Bob to finish the barn as soon as he can without jeopardizing the structural integrity of the barn. Nolan offered to pay an additional 30% of the base fee if the project finished 2 weeks early and 10% if the project finished a week early. The probability of finishing 2 weeks early is 30% and the probability of finishing a week early is 60%.What is the expected transaction price with variable consideration estimated as the expected value?a. $4,750b. $5,000c. $5,750d. $5,50

Dixon Company is a manufacturer that completed numerous transactions during the month, some of which are shown below:
A. Raw materials purchased on account, $100,000.
B. Raw materials used in production, $78,000 direct materials, and $16,000 indirect materials.
C. Sales commissions paid in cash, $45,000.
D. Depreciation was recorded for the month, $60,000 (65% related to factory equipment, and the remainder related to selling and administrative equipment).
E. Sales for the month, $450,000 (70% cash sales and the remainder were sales on account).
F. Factory utilities paid in cash, $12,000.
G. Applied $138,000 of manufacturing overhead to production during the month.
H. Various jobs costing a total of $190,000 were completed during the month and transferred to Finished Goods.
I. Cash receipts from customers who had previously purchased on credit, $115,000.
J. Various completed jobs costing a total of $220,000 were sold to customers.
K. Cash paid to raw material suppliers, $90,000.
Required:
The table shown below includes only one account from Dixon Company's balance sheet-Retained Earnings. For each of the above transactions, select "No" if it would not affect Retained Earnings. Conversely if the transaction would affect Retained Earnings, then record the amount of the increase or (decrease) to this account under the "Yes" column.
Retained Earnings
Transaction Yes No
a
b
c
d
e
f
g
h
i
j
k

Now that he has a part-time job, your younger brother Daniel is opening up his own checking account. You want to pass on what you have learned about checking accounts to him. Prepare a list of recommendations for Daniel covering the following topics: Questions he should ask before opening an account Three ideas on how best to manage his account Three features of online and mobile banking that he should use Overdraft protection: Opt-in or opt-out?

You have been hired to create and run a brand new digital forensics lab for a mid-sized police department. Your assignment is to come up with a plan for the lab for the next 3 years.

Nature's Garden Inc. produces wood chips, wood pulp, and mulch. These products are produced through harvesting trees and sending the logs through a wood chipper machine. One batch of logs produces 20,304 cubic yards of wood chips, 14,100 cubic yards of mulch, and 9,024 cubic yards of wood pulp. The joint production process costs a total of $32,000 per batch. After the split-off point, wood chips are immediately sold for $25 per cubic yard while wood pulp and mulch are processed further. The market value of the wood pulp and mulch at the split-off point is estimated to be $22 and $24 per cubic yard, respectively. The additional production process of the wood pulp costs $5 per cubic yard, after which it is sold for $30 per cubic yard. The additional production process of the mulch costs $4 per cubic yard, after which it is sold for $32 per cubic yard.
Allocate the joint costs of production to each product using the net realizable value method.
Joint Product Allocation
Wood chips $
Wood pulp
Mulch
Totals $

Cost-Volume-Profit Analysis CVP exercises The Deli-Sub Shop owns and operates six stores in and around Minneapolis. You are given the following corporate budget data for next year:
Revenues $11,000,000
Fixed costs $3,000,000
Variable costs $7,500,000
Variable costs change based on the number of subs sold.
Use the blue shaded areas on the ENTERANSWERS tab for inputs. Always use cell references and formulas where appropriate to receive full credit. ​Cell references and formulas should be based on the original data. ​If you copy/paste from the Instructions tab you will be marked wrong.
Requirements Compute the budgeted operating income for each of the following deviations from the original budget data. (Consider each case independently.)
a. Enter all amounts as positive values. Do NOT use parentheses or a minus sign for amounts to be subtracted.
b. Refer to the budgeted operating income based on the original budget data in all calculations.
1 Determine the budgeted operating income based on the original budget data.
2 A 10% increase in contribution margin, holding revenues constant
3 A 10% decrease in contribution margin, holding revenues constant
4 A 5% increase in fixed costs
5 A 5% decrease in fixed costs
6 A 5% increase in units sold
7 A 5% decrease in units sold
8 A 10% increase in fixed costs and a 10% increase in units sold
9 A 5% increase in fixed costs and a 5% decrease in variable costs
10 Which of these alternatives yields the highest budgeted operating income?

Find the future value of an annuity with monthly deposits of $150, made over a period of 10 years, with 5% interest compounded monthly g

For each item below, indicate whether a debit or credit applies.

a. Decrease in Notes Payable select an option
b. Increase in Dividends select an option
c. Increase in Common Stock select an option
d. Increase in Unearned Rent Revenue select an option
e. Decrease in Interest Payable select an option
f. Increase in Prepaid Insurance select an option
g. Decrease in Salaries and Wages Expense select an option
h. Decrease in Supplies select an option
i. Increase in Revenues select an option
j. Decrease in Accounts Receivable

The following information is available for Windsor Inc. for the year ended December 31, 2017:_______.
Loss on discontinued operations $66,000 Retained earnings January 1, 2017 $1,260,000
Rent revenue 98,000 Selling expenses 876,000
Income tax applicable to continuing operations 297,000 Income tax applicable to loss on discontinued operations 23,000
Administrative expenses 507,000 Cost of goods sold 1,648,000
Loss on write-down of inventory 37,000 Sales revenue 3,775,000
Gain on sale of equipment 31,000 Cash dividends declared 230,000
Unrealized gain on available-for-sale securities 27,000 Interest expense 57,000
200,000 shares were outstanding during all of 2017.

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).

A client heard through its hotline that John, the purchases journal clerk, periodically enters fictitious acquisitions. After John creates a fictitious purchase, he notifies Alice, the accounts payable ledger clerk, so she can enter them in her ledger. When the payables are processed, the payment is mailed to the nonexistent supplier’s address, a post office box rented by John. John deposits the check in an account he opened in the nonexistent supplier’s name.
Required
a. Define fraud, fraud deterrence, fraud detection, and fraud investigation.
b. List four personal (as opposed to organizational) fraud symptoms, or red flags, that indicate the possibility of fraud. Do not confine your answer to this example.
c. List two procedures you could follow to uncover John’s fraudulent behavior. (CIA Examination, adapted)