Monet Paints Co. is a newly organized business with a list of accounts arranged in alphabetical order, as follows:
Account Financial Major Possible Account
Statement Classificaton Number
Accounts Payable
Accounts Receivable
Accumulated Depreciation—Office Equipment
Accumulated Depreciation—Store Equipment
Advertising Expense
Cash
Common Stock
Cost of Merchandise Sold
Delivery Expense
Depreciation Expense—Office Equipment
Depreciation Expense—Store Equipment Dividends
Income Summary
Insurance Expense
Interest Expense
Land
Merchandise Inventory
Miscellaneous Administrative Expense
Miscellaneous Selling Expense
Notes Payable
Office Equipment
Office Salaries Expense
Office Supplies
Office Supplies Expense
Prepaid Insurance
Rent Expense
Retained Earnings
Salaries Payable
Sales
Sales Salaries Expense
Store Equipment
Store Supplies
Store Supplies Expense
Assign account numbers and specify whether each account would appear on the balance sheet or income statement order, as illustrated below. Each account number is three digits: the first digit is to indicate the major classification (1 for assets, for example); the second digit is to indicate the subclassification (11 for current assets, for example); and the third digit is to identify the specific account (110 for Cash, 112 for Accounts Receivable, 114 for Merchandise Inventory, etc.).

Answer:

Monet Paints Co.

                                                  Financial             Major               Possible

                                                  Statement       Classification   Account No.

Accounts Payable                   Balance Sheet        Liabilities                211

Accounts Receivable              Balance Sheet        Assets                    112

Accumulated Depreciation

 —Office Equipment               Balance Sheet       Assets (contra)      123

Accumulated Depreciation      

 —Store Equipment                Balance Sheet       Assets (contra)      

Advertising Expense               Income statement Expenses             331

Cash                                        Balance Sheet        Assets                  110

Common Stock                       Balance Sheet        Equity                   401

Cost of Merchandise Sold     Income statement   Expenses            330

Delivery Expense                   Income statement   Expenses            332

Depreciation Expense           Income statement   Expenses            333

 —Office Equipment

Depreciation Expense           Income statement   Expenses            334

 —Store Equipment Dividends

Income Summary                   Income statement    

Insurance Expense                Income statement    Expenses         335

Interest Expense                    Income statement    Expenses         336

Land                                        Balance Sheet          Assets               121

Merchandise Inventory          Balance Sheet          Assets               114

Miscellaneous Admin Expense Income statement Expenses       337

Miscellaneous Selling Expense Income statement Expenses      338

Notes Payable                        Balance Sheet           Liabilities        213

Office Equipment                   Balance Sheet           Assets            122

Office Salaries Expense         Income statement    Expenses       339

Office Supplies                      Balance Sheet            Assets            113

Office Supplies Expense       Income statement     Expenses      340

Prepaid Insurance                 Balance Sheet            Assets            115

Rent Expense                        Income statement     Expenses       341

Retained Earnings                 Balance Sheet           Equity            403

Salaries Payable                    Balance Sheet           Liabilities       212

Sales                                      Income Statement     Revenue       501

Sales Salaries Expense        Income Statement     Expenses      342

Store Equipment                   Balance Sheet           Assets           123

Store Supplies                       Balance Sheet           Assets           116

Store Supplies Expense       Income Statement     Expenses     343

Explanation:

Chart of accounts lists of all accounts of Monet Paints Company.  The list provides a bird's eye view of every area of the business that generates either expenditure or revenue.  The account types which are usually maintained by most companies include Revenue, Expenses, Assets, Liabilities, and Equity.  Revenue and expenses are summarized on the income statement, while assets, liabilities, and equity are listed on the balance sheet.

Thomas entered a four-year sales-type lease with a lessee. The lease is for equipment with a fair value of $40,000, a cost of $34,000, and a residual value of $7,000. The lease has an implicit rate of 6%. The present value factor of a single sum for four periods at 6% is .79209, and the present value factor of an ordinary annuity for four periods at 6% is 3.46511. What amount of gross profit will Thomas report if the lease has a(n) Guaranteed Residual Value Unguarantee

Quantity of Flower A Total Utility Marginal Utility Quantity of Flower B Total Utility Marginal Utility 1 16 16 1 30 30 2 30 14 2 46 16 3 42 12 3 61 15 4 52 10 4 75 14 5 60 8 5 88 13 6 66 6 6 100 12 7 70 4 7 111 11 Your mother needs help deciding how many of two kinds of flowers to purchase for a bouquet she is making. She wants to purchase two kinds of flowers: Flower A and Flower B. If the price of Flower A is $2 and the price of Flower B is $3, how many of Flower A should your mother purchase for her bouquet to maximize her utility if she can spend at most $17 on flowers

In Question 7, suppose the maintenance supervisor has complained that trainees are having difficulty trouble shooting problems with the new electronics system. They are spending a great deal of time on problems with the system and coming to the supervisor with frequent questions that show a lack of understanding. The supervisor is convinced that the employees are motivated to learn the system, and they are well qualified. What do you think might be the problems with the current training program

Suppose the Eastwestern University theater department has received $250,000 from the school's endowment fund to put toward scholarships to improve the department and assist theater students entering the program.
Professor Bucktell proposes that they should hold auditions and give $60,000 scholarships to the five most talented applicants in hopes of bringing the best and most promising talent to the school
Professor Rammer thinks that they should divide the money up into $10,000 scholarships to be given to the 25 applicants to the program with the most financial need, regardless of talent.
Professor Buckteil's proposal is an example of economic_________
Professor Rammer's proposal is an example of economic ________

The following is a list of accounts and adjusted amounts for Rollcom, Inc., for the fiscal year ended September 30, 2018. The accounts have normal debit or credit balances.
Accounts Payable $39,100
Accounts Receivable 66,500
Accumulated Depreciation 21,500
Cash 80,300
Common Stock 94,800
Equipment 90,700
Income Tax Expense 10,500
Notes Payable (long-term) 1,500
Office Expenses 6,300
Rent Expense 164,200
Retained Earnings 99,900
Salaries and Wages Expense 128,700
Sales Revenue 325,600
Supplies 35,200
Prepare the closing entry required at September 30, 2018.

Which of the following is not an important factor to assess when identifying appropriate precedent transactions?

The manager of the main laboratory facility at Center is interested in being able to predict the overhead costs each month for the lab. The manager believes that total overhead varies with the number of lab tests performed but that some costs remain the same each month regardless of the number of lab tests performed. The lab manager collected the following data for the first seven months of the year. Number of Lab Total Laboratory Tests Performed Overhead CostsMonth January 2,700 $22,900February 2,500 $23,500March 3,500 $29,800 April 4,000 $32,500May 4,600 $31,100 June 2,250 $22,000 July 2,000 $19,100 1. Use the high-low method to determine the laboratory's cost equation for total laboratory overhead. Use your results to predict total laboratory overhead if 3,200 lab tests are performed next month.2. Use the high-low method to determine UrbanFit's operating cost equation.

alton Corporation is currently selling 104 units of its product. The company is deciding the price that it should charge for a bulk order of 40 units. The variable cost per unit is $200. This order will not involve any additional fixed costs and the company's current sales will not be affected. The company targets a profit of $4,000 on the bulk order. What selling price per unit should the company quote for the bulk order

Ivanhoe Company reports the following operating results for the month of August: sales $392,000 (units 4,900), variable costs $247,000, and fixed costs $96,000. Management is considering the following independent courses of action to increase net income.

1. Increase selling price by 10% with no change in total variable costs or units sold.
2. Reduce variable costs to 57% of sales.
3. Reduce fixed costs by $22,000.

Which course of action wiIl produce the highest net?

Everything Looks Like a Nail, Inc is a manufacturing company that produces hammers. The company faces a number of fixed and variable costs in the short run. Determine which of the costs below are examples of fixed costs or examples of variable costs by placing them in the correct category. Assume the company cannot easily adjust the amount of capital it uses.Fixed Costs Variable Costsa. interest rate on current debtb. regulatory compliance costsc. annual salaries of top managementd. cost of metal used in manufacturinge. cost of wood used in manufacturingf. postage and packaging costsg. lease on buildingh. industrial equipment costs

labor force
200 million
Adults in the military
1 million
Population below 16
50 million
Employed adults
180 million
Institutionalized adults
3 million
Not in labor force
40 million
1. What is the total population? 1 pt. (Show your work)
2. How many people are unemployed, and what is the unemployment rate? 2 pts.
3. What is the labor force participation rate? 1 pt.

Patricia and Joe Payne are divorced. The divorce settlement stipulated that Joe pay $550 a month for their daughter Suzanne until she turns 18 in 3 years. Interest is 6% a year. How much must Joe set aside today to meet the settlement? (Do not round intermediate calculations. Round your answer to the nearest cent.)

Sarratt Corporation's contribution margin ratio is 70% and its fixed monthly expenses are $38,000. Assume that the company's sales for May are expected to be $97,000. Required: Estimate the company's net operating income for May, assuming that the fixed monthly expenses do not change.

Item13 Time Remaining 45 minutes 57 seconds00:45:57 Item 13 Time Remaining 45 minutes 57 seconds00:45:57 The world's largest manufacturer of peppermint candy canes was located in Albany, Georgia, until it could no longer afford to buy the sugar needed for its operation. It moved its manufacturing business to Mexico where there are no restrictions (like those that exist in the United States) on the amount of sugar that can be brought into the nation. The business moved to Mexico because of __________ established by the U.S. government.

Communicating Negative News EffectivelyAt some point, everyone will have to deliver bad news. The bad feelings associated with this type of message can be alleviated if the receiver knows the reason for the bad news, feels the news is revealed sensitively, thinks the matter is treated seriously, and believes that the decision is fair. When applying these strategies, make sure to follow the writing process and determine whether to use a direct or an indirect pattern in your message. Read the following scenario:Your company started using shipping company two months ago. During your short relationship with a new the company, you notice that it regularly inflates its shipping rates, fails to meet scheduled deliveries, and loses packages. You decide to write a letter to them ending the business relationship. 1. What are your goals when responding to the previous scenario? A. To encourage follow-up correspondence from the receiver. B. To ensure that the company knows you are angry.C. To convey fairness.D. To avoid creating legal liability for your company.E. To make the receiver understand the bad news.2. Staying calm and using polite language while offering a clear explanation of why the negative message was necessary helps the sender to:___.A. Limit legal liability.B. Be firm in their decision.C. Project a professional image.D. Avoid apologizing.

Kenny, Inc., is looking at setting up a new manufacturing plant in South Park. The company bought some land six years ago for $8.6 million in anticipation of using it as a warehouse and distribution site, but the company has since decided to rent facilities elsewhere. The land would net $11.4 million if it were sold today. The company now wants to build its new manufacturing plant on this land; the plant will cost $22.6 million to build, and the site requires $1,010,000 worth of grading before it is suitable for construction.
Required:
What is the proper cash flow amount to use as the initial investment in fixed assets when evaluating this project? (Do not round intermediate calculations. Enter your answer in dollars, not millions of dollars (e.g., 1,234,567).)

An order has been received from an overseas customer for 3700 units to be delivered this month at a special discounted price. This order would not change the total amount of the company's fixed costs. The variable selling and administrative expense would be $2.90 less per unit on this order than on normal sales. Direct labor is a variable cost in this company. Suppose there is not enough idle capacity to produce all of the units for the overseas customer and accepting the special order would require cutting back on production of 1550 units for regular customers. The minimum acceptable price per unit for the special order is closest to:

what are the intermediaries of netflix​

B. Federal Reserve Chair Jerome Powell has hinted that a long run inflation rate target of 2% is the guide he uses for monetary policy in the long run Appealing to the Quantity Theory of Money, Rep. Doro Green advises Chair Powell to therefore set a money growth rate target of 2% to achieve this long run inflation goal. i.) If the Chair takes the Representative's advice, he_________achieve his long run inflation goal because__________ A. Will not; economic growth is positive in the long run. B. Will not; velocity growth is positive in the long run. C. will real economic growth is positive in the long run. D. Wil; velocity growth is positive in the long run.Why might we have reason to believe that Representative Green received the backing of those in the banking industry in the latest election? Explain with reference to your conclusion above about the results of Chair Powell's taking Representative Green's advice. ii) If Chair Powell takes Representative Green's advice, inflation in the long run will bethan expected, transferring wealth from :________.A. Lower; creditors to debtors B. Higher; debtors to creditors C. Higher; creditors to debtors D. Lower; debtors to creditors

The journal entry to record the transfer of partially completed work in process to the next process in process costing is a(n): Multiple choice question. increase in assets and an increase in liabilities decrease in assets and a decrease in liabilities decrease in one asset and an increase in another asset increase in assets and an increase in equity

Sabin is an artist and maintains an office (his studio) in his home. His office occupies 8% of the total floor space of his residence. Gross income from his business is $24,000. Expenses of the business (other than home office expenses) are $5,000. Sabin incurs the following home office expenses:
Real property taxes on residence: $2,400 Interest expense on residence: $4,000 Operating expenses of residence: $2,200 Depreciation on residence (based on 8% business use): $450.
A) Assuming Sabin uses the "regular method" to compute the office in the home deduction, his deduction is ?
B) Assuming Sabin uses the "simplifed method" to computer the office in the home deduction, his deduction is?

Wanting to finalize a sale before year-end, on December 29, WR Outfitters sold to Bob a warehouse and the land for $125,000. The appraised fair market value of the warehouse was $75,000, and the appraised value of the land was $100,000. (Do not round intermediate calculations. Round your answers to the nearest whole dollar amount.)

a. What is Bob's basis in the warehouse and in the land?
b. What would be Bob's basis in the warehouse and in the land if the appraised value of the warehouse is $50,000, and the appraised value of the land is $125,000?
c. Which appraisal would Bob likely prefer?

Statement of Owner's Equity Zack Gaddis owns and operates Gaddis Advertising Services. On January 1, 20Y3, Zack Gaddis, Capital had a balance of $186,000. During the year, Zack invested an additional $9,300 and withdrew $65,100. For the year ended December 31, 20Y3, Gaddis Advertising Services reported a net income of $89,800.
Prepare a statement of owner's equity for the year ended December 31, 20Y3. Use the minus sign to indicate negative values.

Congratulations! You were the 10th caller on the KMTH morning show and you just won $3,000.00. After you calm down, you decide to put the money into a bank account so that you will have even more money for a trip to Europe. Snurling Bank tells you that they will pay 9% per year compounded monthly. How much money will you have for your trip in 5 years

4. The real interest rate is 3 percent, and the nominal interest rate is 5 percent. What is the anticipated rate of inflation? 1
pt.

Part U16 is used by Mcvean Corporation to make one of its products. A total of 16,500 units of this part are produced and used every year. The company's Accounting Department reports the following costs of producing the part at this level of activity: Per Unit Direct materials $ 3.60 Direct labor $ 8.20 Variable manufacturing overhead $ 8.70 Supervisor's salary $ 4.10 Depreciation of special equipment $ 2.50 Allocated general overhead $ 7.70 An outside supplier has offered to make the part and sell it to the company for $27.50 each. If this offer is accepted, the supervisor's salary and all of the variable costs, including the direct labor, can be avoided. The special equipment used to make the part was purchased many years ago and has no salvage value or other use. The allocated general overhead represents fixed costs of the entire company, none of which would be avoided if the part were purchased instead of produced internally. In addition, the space used to make part U16 could be used to make more of one of the company's other products, generating an additional segment margin of $28,500 per year for that product. The annual financial advantage (disadvantage) for the company as a result of buying part U16 from the outside supplier should be:

The Utah Mining Corporation is set to open a gold mine near Provo, Utah. According to the treasurer, Monty Goldstein, "This is a golden opportunity." The mine will cost $3,400,000 to open and will have an economic life of 11 years. It will generate a cash inflow of $575,000 at the end of the first year, and the cash inflows are projected to grow at 8 percent per year for the next 10 years. After 11 years, the mine will be abandoned. Abandonment costs will be $123,000 at the end of year 11.
Required:
What is the IRR for the gold mine? (Do not include the percent sign (%). Round your answer to 2 decimal places. (e.g., 32.16))
IRR
%

A manufacturing company applies factory overhead based on direct labor hours. At the beginning of the year, it estimated that factory overhead costs would be $469,930 and direct labor hours would be 46,993. Actual factory overhead costs incurred were $523,248, and actual direct labor hours were 54,505. What is the amount of overapplied or underapplied manufacturing overhead at the end of the year

The four primary areas of U.S. legislation dealing with human resource management concern labor relations, compensation and benefits, health and safety, and equal employment opportunity.

a. True
b. False

Southern Tours is considering acquiring Holiday Vacations. Management believes Holiday Vacations can generate cash flows of $218,000, $224,000, and $238,000 over the next three years, respectively. After that time, they feel the business will be worthless. If the desired rate of return is 14.5 percent, what is the maximum Southern Tours should pay today to acquire Holiday Vacations?