Sandhill co. has these comparative balance sheet data:
sandhill co.
balance sheets
december 31
2017 2016
cash $33,450 $ 66,900
accounts receivable (net) 156,100 133,800
inventory 133,800 111,500
plant assets (net) 446,000 401,400
$769,350 $713,600
accounts payable $111,500 $133,800
mortgage payable (15%) 223,000 223,000
common stock, $10 par 312,200 267,600
retained earnings 122,650 89,200
$769,350 $713,600
additional information for 2017:
1. net income was $34,100.
2. sales on account were $377,100. sales returns and allowances amounted to $27,600.
3. cost of goods sold was $200,200.
4. net cash provided by operating activities was $56,000.
5. capital expenditures were $28,200, and cash dividends were $19,300.

compute the following ratios at december 31, 2017. (round current ratio and inventory turnover to 2 decimal places, e. g. 1.83 and all other answers to 1 decimal place, e. g. 1.8. use 365 days for calculation.)

(a) current ratio: (enter current ratio rounded to 2 decimal places)
(b) accounts receivable turnover: (enter accounts receivable turnover in times rounded to 1 decimal place times)
(c) average collection period. (enter average collection period in days rounded to 1 decimal place days)
(d) inventory turnover. (enter inventory turnover in times rounded to 2 decimal places times)
(e) days in inventory. (enter days in inventory rounded to 1 decimal place days)
(f) free cash flow. (enter free cash flow in dollars rounded to 1 decimal place $)

On january 1, 2018, red flash photography had the following balances: cash, $19,000; supplies, $8,700; land, $67,000; deferred revenue, $5,700; common stock $57,000; and retained earnings, $32,000. during 2018, the company had the following transactions: 1. february 15 issue additional shares of common stock, $27,000. 2. may 20 provide services to customers for cash, $42,000, and on account, $37,000. 3. august 31 pay salaries to employees for work in 2018, $30,000. 4. october 1 purchase rental space for one year, $19,000. 5. november 17 purchase supplies on account, $29,000. 6. december 30 pay dividends, $2,700. the following information is available on december 31, 2018: 1. employees are owed an additional $4,700 in salaries. 2. three months of the rental space has expired. 3. supplies of $5,700 remain on hand. 4. all of the services associated with the beginning deferred revenue have been performed. required: 1. record the transactions that occurred during the year.2. record the adjusting entries at the end of the year.3. prepare an adjusted trial balance.4. prepare an income statement, statement of stockholders’ equity, and classified balance sheet.5. prepare closing entries.

Lin corporation has a single product whose selling price is $136 per unit and whose variable expense is $68 per unit. the company’s monthly fixed expense is $32,400. required: 1. calculate the unit sales needed to attain a target profit of $5,000. (do not round intermediate calculations.) 2. calculate the dollar sales needed to attain a target profit of $8,400.

With q7 assume the sweet company uses a plantwide predetermined overhead rate with machine-hours as the allocation base. and for q 10,11,13,and 14,assume that the company use department predetermined overhead rates with machine-hours as the allocation bade in both departements.7. assume that sweeten company used cost-plus pricing (and a markup percentage of 80% of total manufacturing cost) to establish selling prices for all of its jobs. what selling price would the company have established for jobs p and q? what are the selling prices for both jobs when stated on a per unit basis assuming 20 units were produced for job p and 30 units were produced for job q? (do not round intermediate calculations. round your final answers to nearest whole dollar.)total price for the job for job p -job q selling price per unit for job p q . how much manufacturing overhead was applied from the molding department to job p and how much was applied to job q? (do not round intermediate calculations.) job p job q manufacturing overhead applied for job p for job q . how much manufacturing overhead was applied from the fabrication department to job p and how much was applied to job q? (do not round intermediate calculations.)job p job q manufacturing overhead applied for job p for job q . if job q included 30 units, what was its unit product cost? (do not round intermediate calculations. round your final answer to nearest whole dollar.)14. assume that sweeten company used cost-plus pricing (and a markup percentage of 80% of total manufacturing cost) to establish selling prices for all of its jobs. what selling price would the company have established for jobs p and q? what are the selling prices for both jobs when stated on a per unit basis assuming 20 units were produced for job p and 30 units were produced for job q? (do not round intermediate calculations. round your final answer to nearest whole dollar.)total price for the job p for job q selling price per unit for job p for job q