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Please provide the picture of the problem in Microsoft Excel format for further examination and correction. 

          Please provide the picture of the problem in Microsoft Excel format for further examination and correction.
please provide the picture of the problem in microsoft excel format for further examination and correction 85099

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Horngren’s Cost Accounting
Horngren’s Cost Accounting
Srikant M. Datar, Madhav V. Rajan 16th Edition
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Please provide the picture of the problem in Microsoft Excel format for further examination and correction.
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the-company-aylmer-industries-inc-aylmer-has-been-in-business-since-y4-aylmer-has-two-main-business-segments-this-first-segment-is-the-construction-of-large-scale-projects-in-y7-aylmer-had-t-15793

THE COMPANY: Aylmer Industries Inc. (Aylmer) has been in business since Y4. Aylmer has two main business segments. This first segment is the construction of large-scale projects. In Y7, Aylmer had two large construction projects in process. The other segment is the sale of construction equipment. Details of the construction projects and the sale of construction equipment can be found later in this document and in the accompanying Excel file. Aylmer has 75,000 common shares outstanding, and the shares are publicly traded. Since Aylmer is a publicly traded company, it follows IFRS. There are no preferred shares outstanding. Aylmer posted accounting transactions throughout the year. The Excel unadjusted trial balance was prepared from the recorded transactions. Aylmer’s fiscal year-end is December 31st. As a year-end review, management of Aylmer discovered that the following items have NOT been recorded and are NOT reflected in the unadjusted trial balance provided at December 31, Y7. For any journal entries, use December 31 as the date for the entries. The accompanying Excel spreadsheet has important information and requirements. Please review the entire file carefully. The unadjusted trial balance at December 31, Y7 and final trial balance at December 31, Y6 are provided in the Excel file for comparison purposes. Please see the Excel tab labelled “Trial Balance”. Use this Excel file and this tab to post journal entries as required, and to ensure that the worksheet remains in balance. You should use the worksheet to provide the ending balances needed to prepare the financial statements at December 31, Y7. Ignore income taxes for this project. REQUIRED (please read the entire document before starting the project) Analyze and review the following items (a – s) and determine the appropriate journal entry, if any, required. Record the appropriate journal entry in the Excel tab labelled “journal entries”. Use the various tabs in the Excel file to perform calculations and use the tabs as support for your journal entries, financial statement preparation, and notes to the financial statements. Read the transactions below very carefully and the requirements that follow. This project accounts for 20% of your final grade and is due on Sunday December 3, 2023 @11:59 pm. You should complete this project on your own but please ask questions as you progress through the project. If there is time, classes may be allocated to questions related to the project. NOTE – before you begin the Excel work, enter your student ID number on the Excel tab “Students First Step” as indicated. See the “REQUIRED” section below for important information. TRANSACTIONS NOT INCLUDED IN THE UNADJUSTED TRIAL BALANCE at DECEMBER 31, Y7: a. Cash & Equivalents In the Excel spreadsheet, see the details for the cash equivalents in order to accrue interest earned, if needed. b. Calculate bad debt On December 31, after many attempts at collecting the outstanding balance of Copper Gallery, the controller decided to write off that balance. Aylmer calculates bad debt on trade receivables only, not on project receivables. Bad debt is estimated to be: 0-30 days 1.80% 31 – 60 days 8.00% 61 – 90 days 10.00% 91 – 120 days 20.00% Over 120 days 50.00% In the Excel spreadsheet, see the tab labelled “Trade Accounts Receivable Detail” to perform any necessary calculations. c. FV-NI Investments At December 31, Y7; the fair value of the short-term investments were: Redemption Corp $12.95 per share ALM Corp $22.25 per share In the Excel spreadsheet, see the tab “FV-NI Investments” to perform any necessary calculations. d. Prepaid Insurance A payment to State Farm Insurance was made on October 1, Y7, with the entire amount posted to Prepaid Insurance. The policy lasts 18 months. There are no other amounts included in Prepaid Insurance. e. Inventory The company has the policy of stating all inventory on hand at the lower of cost and net realizable value. The company uses the direct method for any adjustments to inventory. NOTE – on the Statement of Earnings use “Cost of Goods Sold” from the trial balance as the expense – there is NO need to calculate the cost of goods sold, since it is given. In the Excel spreadsheet, see the tab “Inventory Detail” to perform any necessary calculations. f. Inventory on Consignment At December 31, Y7; the company received the following information for inventory on consignment: 1. All X105 machines were sold for $13,450 each. 2. Three of the J050 machines were sold for $6,880 each. The consignee received 5.2% commission on each sale and was allowed a 2.50% allowance for advertising. The consignee will pay the company the amount owed on January 15, Y8. In the Excel spreadsheet, see the tab “Inventory on Consignment” to perform any necessary calculations. Use “Other Accounts Receivable” if needed for this transaction. g. Record Depreciation able[[, able[[Trial Balance],[At December 31, Y6] Trial Balance Unadjusted Trial Balance At December 31, Y7 Debit Credit 409,476 394,637 2,098,249 1,623,000 Adjusted Trial Balance Debit Credit At December 31, Y6 Debit Credit 886,487 Adjustments Debit Credit Income Statement Debit Credit Balance Sheet Debit Credit Cash & Equivalents FV-NI Investments Accounts Receivable - Trade Accounts Receivable - Projects Other Accounts Receivable Interest Receivable Allowance for Doubtful Accounts Inventory Inventory on Consignment Prepaid Insurance FV-OCI Investments Construction in Process Land Building Building - Accumulated Depreciation Equipment Equipment - Accumulated Depreciation Intangible Assets Intangible Assets - Accumulated Amortization Goodwill Accumulated Impairment Loss - Goodwill Accounts Payable Deferred Tax Liability HST Payable Interest Payable 1,895,740 475,539 515,040 142,970 300,000 120,000 4,425,000 655,000 3,195,000 655,000 3,195,000 208,778 208,778 389,105 505,760 104,853 104,853 31,400 675,000 675,000 525,000 246,300 94,100 100,000 370,990

Akash M.
henry-corporation-prepares-its-master-budget-on-a-quarterly-basis-the-following-data-have-been-assembled-to-assist-in-the-preparation-of-the-master-budget-for-the-second-quarter-of-2019-the-53434

Henry Corporation prepares its master budget on a quarterly basis. The following data have been assembled to assist in the preparation of the master budget for the second quarter of 2019: The company's gross profit rate is 40 percent of sales. Actual sales for March and budgeted sales for the next four months are as follows: March 2019: $170,000 April 2019: $200,000 May 2019: $250,000 June 2019: $190,000 July 2020: $150,000 Sales are 20 percent for cash and the rest on account. All sales on account are collected the month following sale. The accounts receivable on March 31 are a result of March credit sales. At the end of each month, inventory is to be on hand equal to 30 percent of the following month's sales needs, stated at cost. Thirty-five percent of a month's inventory purchases are paid for in the month of purchase; the rest is paid for in the following month. Monthly expenses are budgeted as follows: property taxes, $8,000 per month; salaries and wages, $18,000 per month; depreciation, $17,000 per month; advertising, 4 percent of sales; utilities, $12,000 per month; other expenses, 5 percent of sales. The company will declare and pay $20,000 in cash dividends per month. During April, the company will purchase a new computer for $12,000 in cash. During May, other equipment will be purchased for cash at a cost of $10,000. During June, another computer will be purchased for $12,000. As of March 31, 2019 (the end of the prior quarter), the company's general ledger showed the following account balances: Debits: Cash: $10,000 Accounts Receivable: $43,000 Inventory: $45,000 Plant and Equipment (net): $117,000 Credits: Accounts Payable: $46,000 Short-term Notes Payable: $15,000 Capital Stock: $95,000 Retained Earnings: $59,000 Total: $215,000 The company must maintain a minimum cash balance of $8,000. An open line of credit is available at a local bank for any borrowing that may be needed during the quarter. All borrowing is done at the beginning of a month, and all repayments are made at the end. Borrowings and repayments of principal must be in multiples of $1,000. Interest is paid at the end of each month. The interest rate is 12 percent per annum. (Figure interest in whole months, e.g., 1/12, 2/12.) Required: Prepare an interactive budgeting spreadsheet. It should automatically update when changes are made to the input data, such as changes in sales forecasts, equipment purchases, etc. Spreadsheet Hints: - Create a worksheet for inputs that includes all potential variables that can be changed. Label the worksheet tab as "inputs." - Create a worksheet for each of the different budgets. Label the tabs appropriately. The following budgets should be included: - Sales Budget - Inventory Purchases Budget - Selling and Administrative Budget - Cash Collections from Customers Schedule - Cash Paid for Inventory Purchases Schedule - Cash Budget - Budgeted Income Statement - Budgeted Balance Sheet Each budget should: - Be on a separate worksheet - Have a heading centered over the rest of the budget that includes the following: - Name of Company - Name of Budget - Date: "June 30, 2019" or "For the Quarter ended June 30, 2019" - Be prepared on a monthly basis with a total column for the quarter. The budgeted income statement and budgeted balance sheet should be quarterly (not monthly). All worksheets should be interactive (i.e. all worksheet pages except the Input worksheet should be formula-driven). We will use the following to grade the project: - You will lose 10 points if you do not have separate worksheets for each budget. - You will lose 15 points if the project is late. - You will lose up to 20 points if your worksheets are not interactive. - You will lose up to 20 points on the layout. - You will lose 15 points for not doing a cash budget. - You will lose 15 points for not doing a budgeted income statement. - You will lose 10 points for not balancing your budgeted balance sheet. - You will lose points based on accuracy also. Submit your file in Canvas. Label it using your last name followed by your first name. For example, my file would be named "terryglenn". Hints for Creating Interactive Cash Budget: - To calculate borrowings to the nearest thousands, you may use the ROUNDUP function. - To calculate repayments, you may use the ROUNDDOWN function.

Akash M.
please-help-me-with-these-i-will-make-sure-to-upvote-thank-you-so-much-for-the-past-several-years-steffy-lopez-has-operated-a-part-time-consulting-business-from-his-home-as-of-july-1-20y2-st-94123

For the past several years, Steffy Lopez has operated a part-time consulting business from his home. As of July 1, 20Y2, Steffy decided to move to rented quarters and to operate the business, which was to be known as Diamond Consulting, on a full-time basis. Diamond entered into the following transactions during July:Jul.1The following assets were received from Steffy Lopez in exchange for common stock: cash, $13,000; accounts receivable, $20,800; supplies, $3,200; and office equipment, $7,500. There were no liabilities received. 1Paid two months’ rent on a lease rental contract, $4,800. 2Paid the premiums on property and casualty insurance policies, $4,860. 4Received cash from clients as an advance payment for services to be provided, and recorded it as unearned fees, $5,000. 5Purchased additional office equipment on account from Office Station Co., $6,500. 6Received cash from clients on account, $15,000. 10Paid cash for a newspaper advertisement, $500. 12Paid Office Station Co. for part of the debt incurred on July 5, $5,200. 12Recorded services provided on account for the period July 1–12, $13,300. 14Paid receptionist for two weeks’ salary, $1,800.Record the following transactions on Page 2 of the journal:Jul.17Recorded cash from cash clients for fees earned during the period July 1–17, $9,450. 18Paid cash for supplies, $600. 20Recorded services provided on account for the period July 13–20, $6,650. 24Recorded cash from cash clients for fees earned for the period July 17–24, $4,500. 26Received cash from clients on account, $12,000. 27Paid receptionist for two weeks’ salary, $1,800. 29Paid telephone bill for July, $325. 31Paid electricity bill for July, $675. 31Recorded cash from cash clients for fees earned for the period July 25–31, $5,400. 31Recorded services provided on account for the remainder of July, $3,000. 31Paid dividends, $12,500. Required:1.Journalize each transaction in a two-column journal starting on Page 1. (Do not insert the account numbers in the journal at this time.)2. Post the journal to a ledger of four-column accounts. Add the appropriate posting reference to the journal.3. Prepare an unadjusted trial balance.4.At the end of July, the following adjustment data were assembled. Analyze and use these data to complete requirements (5) and (6).(a)Insurance expired during July is $405.(b)Supplies on hand on July 31 are $1,600.(c)Depreciation of office equipment for July is $750.(d)Accrued receptionist salary on July 31 is $180.(e)Rent expired during July is $2,400.(f)Unearned fees on July 31 are $2,500.5.(Optional) On your own paper or spreadsheet, enter the unadjusted trial balance on an end-of-period work sheet and complete the work sheet.6.A.Journalize the adjusting entries on page 3 of the journal. Adjusting entries are recorded on July 31.B.Post the adjusting entries, inserting balances in the accounts affected.7.Prepare an adjusted trial balance.8.A.Prepare an income statement for the month ended July 31, 20Y2.B.Prepare a statement of stockholders’ equity for the month ended July 31, 20Y2.C.Prepare a balance sheet as of July 31, 20Y2.9.A.Journalize the closing entries on page 4 of the journal.B.Post the closing entries, inserting balances in the accounts affected.10.Prepare a post-closing trial balance. ACCOUNT TITLE DEBIT CREDIT 1 Cash Accounts Receivable Supplies Prepaid Rent Prepaid Insurance Office Equipment Accumulated Depreciation 8 Accounts Payable Salaries Payable Unearned Fees 11 Common Stock 12 Retained Earnings 13 Dividends 14 Fees Earned 15 Salary Expense 16 Rent Expense 17 Supplies Expense 18 Depreciation Expense 19 Insurance Expense 20 Miscellaneous Expense 21 Totals

Akash M.
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Transcript

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00:02 So, this involves various steps and calculations.
00:05 So, the structure of the first order transaction mentioned, we will put with step five.
00:13 Step five is the cash and equivalent.
00:24 Review, you first need to review the detail of cash equivalent in the excel sheet.
00:30 So, if interest are needed to be acquired, you calculate the interest and make the necessary journal entry with this.
00:40 Here, date, month, month, debit, interest, receipt, receivable, and credit, interest, revenue, and b part, calculate that.
01:18 Refer to the table, account, receivable, detailed step one necessary calculation.
01:23 The right of the outstanding balance of overall delivery.
01:27 Here, this is also the first number, debit allowance for the account, and credit account, receivable.
02:22 Therefore, the first step is fdni investment.
02:36 You refer to the fdni investment table for necessary calculation.
02:41 So, you adjust the fair value of short -term investment and the journal entry for the first december.
02:52 And the date is fdni investment, your credit gain or loss, if it's loss on investment.
03:16 Next is prepaid insurance.
03:27 Since the payment was made on october 1st, calculate the unexpired insurance amount.
03:32 So, you take still 31st december, and you debit insurance expense, credit, prepaid insurance...
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