Your examination of the records of a company that follows the cash basis of accounting tells you that the company’s reported cash-basis earnings in 2014 are $33,640. If this firm had followed accrual-basis accounting practices, it would have reported the following year-end balances.

$$\begin{array}{lcc} \text{}&\underline{\textbf{2014}}&\underline{\textbf{2013}}\\ \text{Accounts receivable}&\text{\$\hspace{1pt}3,400}&\text{\$\hspace{1pt}2,800}\\ \text{Supplies on hand}&\text{\hspace{7pt}1,300}&\text{\hspace{7pt}1,460}\\ \text{Unpaid wages owed}&\text{\hspace{7pt}2,000}&\text{\hspace{7pt}2,400}\\ \text{Other unpaid expenses}&\text{\hspace{7pt}1,400}&\text{\hspace{7pt}1,100}\\ \end{array}$$

Instructions

Determine the company’s net earnings on an accrual basis for 2014. Show all your calculations in an orderly fashion.

Answer the following questions. Hint: Use the accounting equation.

a. On January $1$, Lumia Company’s liabilities are $\$60,000$ and its equity is $\$40,000$. On January $3$, Lumia purchases and installs solar panel assets costing $\$10,000$. For the panels, Lumia pays $\$4,000$ cash and promises to pay the remaining $\$6,000$ in six months. What is the total of Lumia’s assets after the solar panel purchase?

In each blank next to the following terms, place the identifying letter of its best description.

$$\begin{matrix} \text{\_\_\_\_\_\_\_ 1. Cost center} & \text{A. Incurs costs without directly yielding revenues}\\ \text{\_\_\_\_\_\_\_ 2. Investment center} & \text{B. Provides information used to evaluate the performance of a department.}\\ \text{\_\_\_\_\_\_\_ 3. Departmental accounting system} & \text{C. Holds manager responsible for revenues, costs, and investments.}\\ \text{\_\_\_\_\_\_\_ 4. Operating department} & \text{D. Engages directly in manufacturing or in making sales directly to customers.}\\ \text{\_\_\_\_\_\_\_ 5. Profit center} & \text{E. Does not directly manufacture products but contributes to profitability of the entire company}\\ \text{\_\_\_\_\_\_\_ 6. Responsibility accounting system} & \text{F. Incurs costs and also generates revenues.}\\ \text{\_\_\_\_\_\_\_ 7. Service department} & \text{G. Provides information used to evaluate the performance of a department manager.}\\ \end{matrix}$$

Determine the number of significant figures in each measurement: 0.004 $m^3$

Determine the number of significant figures in the measurement 4867 $\mathrm{mi}$

How many significant figures are there in each of the following values? 300

Work in small groups. Imagine you are starting a greeting card company. Decide what functions your team members will perform. Consider each person’s talents and interests. Will your company be structured formally or informally? Make a chart using presentation software to show how you organized your company. Present your chart to the class.

Solve the following initial value problems an.d leave the solution in implicit form. Use graphing software to plot the solution.. If the implicit solution. describes more than one function., be sure to indicate which fun.ct ion. corresponds to the solution. of the initial value problem. $y^{\prime}(t)=\frac{2 t^{2}}{y^{2}-1}, y(0)=0$

Correcting Sentences with Incorrectly formed Comparisons. On the line after each sentence write the comparative or superlative form that will correct the underlined errors Of all the jokes he told, the last one was the most funniest..

Identify the degree of comparison of the underlined modifier by writing P for positive degree, C for comparative degree, or S for superlative degree.

This recipe is $\underline{\text{simpler}}$ than the other one because there are fewer steps.

Recognizing The Three Degrees of Comparison. Identify the degree of comparison of each underlined modifier by writing $P$ for positive, $C$ for comparative, or $S$ for superiative on the line. The lecture hall is $\underline{larger}$ than the lounge.

Yard Designs (YD) experienced the following events in 2016, its first year of operation:

1. On October 1, 2016, YD collected $54,000 for consulting services it agreed to provide during the coming year.

2. Adjusted the accounts to reflect the amount of consulting service revenue recognized in 2016.

Required

Based on this information alone,

Record the events under an accounting equation.

A software development department consists of 6 women and 4 men. (A) How many ways can the department select a chief programmer, a backup programmer, and a programming librarian? (B) How many of the selections in part (A) consist entirely of women? (C) How many ways can the department select a team of 3 programmers to work on a particular project?

For each of the following sentences, identify the degree of comparison of the underlined modifier by writing P for positive degree, C for comparative degree, or S for superlative degree.

Dad doesn't play $\underline{\text{much}}$ tennis.