New Perspectives Excel 2019 | Modules 5-8: SAM Capstone Project la 20. 21. Go to the Suppliers worksheet, where Benicio wants to determine whether subcontracting could reduce the cost of the new virtual assistant product. Run Solver to solve this problem as follows: Set the objective as minimizing (Min) the total cost (cell E10). Use the units produced values (range B5:D5) as the changing variable cells. Adjust the number of units produced by each supplier using the following constraints: Set the total number of virtual assistants produced (cell E5) as greater than or equal to 11,000, DIG Technology's minimum production goal. Set the total cost (cell E10) to be less than or equal to 925,000, the maximum total cost DIG Technology wants to spend. Set the total number of virtual assistants produced by a single supplier (range B5:D5) to be less than or equal to 4000 to balance the production among the suppliers. Make sure the values in the range B5:D5 are integers since DIG Technology | cannot sell a fraction of a product. a. b. C. d. Run Solver, keep the solution, and then return to the Solver Parameters dialog box. Save the model in the range A14:A21. Run Solver again, create an Answer report, and then close the Solver Parameters dialog box. 22. Go to the Product Mix worksheet, which calculates the profit from each model of portable speaker. Benicio wants to compare three scenarios: one with the current prices and costs, another with the prices raised $10.00, and a third that reduces the variable costs per unit by $5.00. He has already created the first two scenarios and defined names for cells and ranges. Create a third scenario as follows: Support_EX19_CS5-... W Instructions_NP_EX... X NP_EX19_CS5-8a_...
New Perspectives Excel 2019 I Modules 5-8: SAM Capstone Project la 20. Go to the Suppliers worksheet, where Benicio wants to determine whether subcontracting could reduce the cost of the new virtual assistant product. Run Solver to solve this problem as follows: a. Set the objective as minimizing (Min) the total cost (cell E10). b. Use the units produced values (range B5:D5) as the changing variable cells. c. Adjust the number of units produced by each supplier using the following constraints: - Set the total number of virtual assistants produced (cell E5) as greater than or equal to 11,000, DIG Technology's minimum production goal. - Set the total cost (cell E10) to be less than or equal to 925,000, the maximum total cost DIG Technology wants to spend. - Set the total number of virtual assistants produced by a single supplier (range BS:D5) to be less than or equal to 4000 to balance the production among the suppliers. - Make sure the values in the range B5:D5 are integers since DIG Technology cannot sell a fraction of a product. d. Run Solver, keep the solution, and then return to the Solver Parameters dialog box. Save the model in the range A14:A21. 21. Run Solver again, create an Answer report, and then close the Solver Parameters dialog box. 22. Go to the Product Mix worksheet, which calculates the profit from each model of portable speaker. Benicio wants to compare three scenarios: one with the current prices and costs, another with the prices raised $10.00, and a third that reduces the variable costs per unit by $5.00. He has already created the first two scenarios and defined names for cells and ranges. Create a third scenario as follows: A COMPREHENSIVE ACCOUNIING CYCIE PROBIFM On December 1, 2022, Michael and Mary OMalley formed Ballycrox, LLC. Ihey began operations using the following accounts: The LC performs adjusting entries monthly. Closing entries are performed annually on December 31 . During December, the UC entered into the following transactions: Dec. 1 Issued to Michael and Mary O'Malley 7,000 shares of capital stock in exchange for a total of $200,000 cash. Dec. 1 Purchased for $240,000 the equipment formally owned by a competitor named Newport, LL. Paid $140,000 cash and issued a one year note payable for $100,000. The note, plus all 12 months of accrued interest, are due November 30, 2023. Dec. 1 Paid $12,000 to Coyne Realty, LuP as three months' advance rent on the rental yard and office formerly occupied by Newport, LLP. Dec. 4 Purchased office supplies on account from the Castlebar Office Company for $1,000. Payment due in 30 days. (These supplies are expected to last for several months.) Dec. 8 Received $8,000 cash as advance payment on equipment rental from McGinty Construction Company. Dec. 12 Paid salaries for the first two weeks in December of $5,200. Dec. 15 Excluding the McGinty advance, equipment rental fees earned during the first 15 days of December amounted to $18,000, of which $12,000 was received in cash. Dec. 17 Purchased on account from Donegal, LLP, $600 in parts needed to repair a rental tractor. Payment is due in 10 days. Dec. 23 Collected $2,000 of the accounts receivable recorded on December 15. Dec. 26 Rented a backhoe to Dever Landscaping at a price of $250 per day, to be paid when the backhoe is returned. Dever Landscaping expects to keep the backhoe for about two or three weeks. Dec. 26 Paid biweekly salaries of $5,200. Dec. 27 Paid the account payable to Donegal, LLP, $600. Dec. 28 Declared a dividend of 77 cents per share, payable on January 15, 2023. Dec. 29 Westport, LLC was named, along with Dever Landscaping and Newport Construction as a co-defendant in a $25,000 lawsuit filed. Dever Landscaping had left the rented backhoe in a fenced construction site owned by Newport Construction. After working hours on December 26, kids had climbed the fence to play on parked construction equipment. While playing on the backhoe, one fell and broke his arm. The extent of the company's legal and financial responsibility for this accident, if any, cannot be determined at this time. Dec. 29 Purchased a 12-month public liability insurance policy for $9,600. This policy protects the company against liability for injuries and property damage caused by its equipment. However, the policy goes into effect on January 1,2023, and affords no coverage for the injuries sustained by the kids on December 26. Dec. 31 Received a bill from Corraun Utilities for the month of December for $700. Payment is due in 30 days. Dec. 31 Equipment rental fees earned during the second half of December amounted to $20,000, of which $15,600 was received in cash. Data for Adjusting Entries: a. The advance payment of rent on December 1 covered a period of three months. b. The annual interest rate on the note payable to Newport, LLP is 6 percent. c. The rental equipment is being depreciated by the straight-line method over a period of 8 years. d. Office supplies on hand at December 31 are estimated at $600. e. During December, the company earned $3,700 of the rental fees paid in advance by McGinty Construction Company on December 8. f. As of December 31, six days' rent on the backhoe rented to Dever Landscaping on December 26 has been earned. g. Salaries earned by employees since the last payroll date (December 26) amounted to $1,400 at month-end. h. It is estimated that the company is subject to a combined federal, state and local income tax rate of 30 percent of income before income taxes (total revenue minus all expenses other than income taxes). These taxes will be payable in 2023. Instructions: a. Perform the following steps of the accounting cycle for the month of December: 1. Record in the general journal the December transactions and post to the appropriate ledger accounts. 2. Prepare the unadjusted trial balance on a 10-column worksheet for the year ended December 31. See example on page 112 (Exhibit 3B.1) in our text book. 3. Prepare the necessary adjusting entries for December. 4. Post the December adjusting entries to the appropriate ledger accounts. 5. Complete the 10-column worksheet for the year ended December 31. b. In professional format, prepare an Income Statement and Statement of Shareholders' Equity for the year ended December 31, and a Balance Sheet as of December 31 . c. Prepare required footnote disclosures to accompany the December 31 financial statements. Your solution should include a separate footnote addressing each of the following areas: (1) depreciation policy, (2) maturity dates of major liabilities, and (3) potential liability due to pending litigation. Look at the footnotes in Appendix A in the back of our text book. d. Prepare closing entries and post to ledger accounts. e. Prepare an after closing trial balance as of December 31 . f. During December, this company's cash balance has fallen from $200,000. Does it appear headed for insolvency in the near future? Explain your reasoning. g. Would it be ethical for Mary O'Malley to maintain the accounting records for this company, or must they be maintained by someone who is independent of the organization
