Exercise 4-7 Kay Magill Company had the following adjusted trial balance. KAY MAGILL COMPANYAdjusted Trial BalanceFor the Month Ended June 30, 2015Adjusted Trial BalanceAccount TitlesDebitCreditCash$3,712Accounts Receivable3,904Supplies480Accounts Payable$1,556Unearned Service Revenue160Common Stock4,000Retained Earnings1,760Dividends628Service Revenue4,300Salaries and Wages Expense1,344Miscellaneous Expense256Supplies Expense1,900Salaries and Wages Payable 448 Total$12,224$12,224WarningDon't show me this message again for the assignmentOk Cancel Prepare closing entries at June 30, 2015. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) No.Account Titles and ExplanationDebitCredit1. (To close revenue account.)2. (To close expense accounts)3. (To close net income / (loss).)4. (To close dividends)WarningDon't show me this message again for the assignmentOk Cancel Show List of Accounts Prepare a post-closing trial balance. KAY MAGILL COMPANYPost-Closing Trial BalanceFor the Month Ended June 30, 2015DebitCredit $$ Total$$WarningDon't show me this message again for the assignmentOk Cancel Exercise 4-17 These financial statement items are for Norsted Company at year-end, July 31, 2015. Salaries and wages payablenbsp;2,080Notes payable (long-term)nbsp;1,800Salaries and wages expense51,700Cash14,200Utilities expense22,600Accounts receivable9,780Equipment30,400Accumulated depreciation-equipment6,000Accounts payable4,100Dividends3,000Service revenue62,000Depreciation expense4,000Rent revenue8,500Retained Earnings (beginning of the year)21,200Common Stock30,000WarningDon't show me this message again for the assignmentOk Cancel Prepare an income statement for the year. (Enter negative amounts using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).) NORSTED COMPANYIncome StatementFor the Year Ended July 31, 2015 DividendsExpensesNet Income / (Loss)Retained Earnings, August 1, 2014Retained Earnings, July 31, 2015RevenuesTotal ExpensesTotal Revenues $ Dividends Expenses Net Income / (Loss) Retained Earnings, August 1, 2014 Retained Earnings, July 31, 2015 Revenues Total Expenses Total Revenues $ DividendsExpensesNet Income / (Loss)Retained Earnings, August 1, 2014Retained Earnings, July 31, 2015RevenuesTotal ExpensesTotal Revenues $ Dividends Expenses Net Income / (Loss) Retained Earnings, August 1, 2014 Retained Earnings, July 31, 2015 Revenues Total Expenses Total Revenues DividendsExpensesNet Income / (Loss)Retained Earnings, August 1, 2014Retained Earnings, July 31, 2015RevenuesTotal ExpensesTotal Revenues$WarningDon't show me this message again for the assignmentOk Cancel Show List of Accounts Prepare a retained earnings statement for the year. (List items that increase retained earnings first.) NORSTED COMPANYRetained Earnings StatementFor the Year Ended July 31, 2015 DividendsExpensesNet Income / (Loss)Retained Earnings, August 1, 2014Retained Earnings, July 31, 2015RevenuesTotal ExpensesTotal Revenues$ AddLess: DividendsExpensesNet Income / (Loss)Retained Earnings, August 1, 2014Retained Earnings, July 31, 2015RevenuesTotal ExpensesTotal Revenues$ DividendsExpensesNet Income / (Loss)Retained Earnings, August 1, 2014Retained Earnings, July 31, 2015RevenuesTotal ExpensesTotal Revenues DividendsExpensesNet Income / (Loss)Retained Earnings, August 1, 2014Retained Earnings, July 31, 2015RevenuesTotal ExpensesTotal Revenues$WarningDon't show me this message again for the assignmentOk Cancel Show List of Accounts Prepare a classified balance sheet at July 31. (List current assets in order of liquidity.) NORSTED COMPANYBalance SheetJuly 31, 2015Assets Current AssetsCurrent LiabilitiesIntangible AssetsLong-term InvestmentsLong-term LiabilitiesProperty, Plant and EquipmentStockholders' EquityTotal AssetsTotal Current AssetsTotal Current LiabilitiesTotal Intangible AssetsTotal LiabilitiesTotal Liabilities and Stockholders' EquityTotal Long-term InvestmentsTotal Long-term LiabilitiesTotal Property, Plant and EquipmentTotal Stockholders' Equity $ Current Assets Current Liabilities Intangible Assets Long-term Investments Long-term Liabilities Property, Plant and Equipment Stockholders' Equity Total Assets Total Current Assets Total Current Liabilities Total Intangible Assets Total Liabilities Total Liabilities and Stockholders' Equity Total Long-term Investments Total Long-term Liabilities Total Property, Plant and Equipment Total Stockholders' Equity $ Current AssetsCurrent LiabilitiesIntangible AssetsLong-term InvestmentsLong-term LiabilitiesProperty, Plant and EquipmentStockholders' EquityTotal AssetsTotal Current AssetsTotal Current LiabilitiesTotal Intangible AssetsTotal LiabilitiesTotal Liabilities and Stockholders' EquityTotal Long-term InvestmentsTotal Long-term LiabilitiesTotal Property, Plant and EquipmentTotal Stockholders' Equity Add Less : Current Assets Current Liabilities Intangible Assets Long-term Investments Long-term Liabilities Property, Plant and Equipment Stockholders' Equity Total Assets Total Current Assets Total Current Liabilities Total Intangible Assets Total Liabilities Total Liabilities and Stockholders' Equity Total Long-term Investments Total Long-term Liabilities Total Property, Plant and Equipment Total Stockholders' Equity $Liabilities and Stockholders' Equity Current AssetsCurrent LiabilitiesIntangible AssetsLong-term InvestmentsLong-term LiabilitiesProperty, Plant and EquipmentStockholders' EquityTotal AssetsTotal Current AssetsTotal Current LiabilitiesTotal Intangible AssetsTotal LiabilitiesTotal Liabilities and Stockholders' EquityTotal Long-term InvestmentsTotal Long-term LiabilitiesTotal Property, Plant and EquipmentTotal Stockholders' Equity $ Current Assets Current Liabilities Intangible Assets Long-term Investments Long-term Liabilities Property, Plant and Equipment Stockholders' Equity Total Assets Total Current Assets Total Current Liabilities Total Intangible Assets Total Liabilities Total Liabilities and Stockholders' Equity Total Long-term Investments Total Long-term Liabilities Total Property, Plant and Equipment Total Stockholders' Equity $ Current AssetsCurrent LiabilitiesIntangible AssetsLong-term InvestmentsLong-term LiabilitiesProperty, Plant and EquipmentStockholders' EquityTotal AssetsTotal Current AssetsTotal Current LiabilitiesTotal Intangible AssetsTotal LiabilitiesTotal Liabilities and Stockholders' EquityTotal Long-term InvestmentsTotal Long-term LiabilitiesTotal Property, Plant and EquipmentTotal Stockholders' Equity Current Assets Current Liabilities Intangible Assets Long-term Investments Long-term Liabilities Property, Plant and Equipment Stockholders' Equity Total Assets Total Current Assets Total Current Liabilities Total Intangible Assets Total Liabilities Total Liabilities and Stockholders' Equity Total Long-term Investments Total Long-term Liabilities Total Property, Plant and Equipment Total Stockholders' Equity Current AssetsCurrent LiabilitiesIntangible AssetsLong-term InvestmentsLong-term LiabilitiesProperty, Plant and EquipmentStockholders' EquityTotal AssetsTotal Current AssetsTotal Current LiabilitiesTotal Intangible AssetsTotal LiabilitiesTotal Liabilities and Stockholders' EquityTotal Long-term InvestmentsTotal Long-term LiabilitiesTotal Property, Plant and EquipmentTotal Stockholders' Equity Current Assets Current Liabilities Intangible Assets Long-term Investments Long-term Liabilities Property, Plant and Equipment Stockholders' Equity Total Assets Total Current Assets Total Current Liabilities Total Intangible Assets Total Liabilities Total Liabilities and Stockholders' Equity Total Long-term Investments Total Long-term Liabilities Total Property, Plant and Equipment Total Stockholders' Equity Current Assets Current Liabilities Intangible Assets Long-term Investments Long-term Liabilities Property, Plant and Equipment Stockholders' Equity Total Assets Total Current Assets Total Current Liabilities Total Intangible Assets Total Liabilities Total Liabilities and Stockholders' Equity Total Long-term Investments Total Long-term Liabilities Total Property, Plant and Equipment Total Stockholders' Equity $List Of Accounts CloseExercise 4-7Accounts PayableAccounts ReceivableAccumulated Depreciation-BuildingsAccumulated Depreciation-Delivery TrucksAccumulated Depreciation-EquipmentAdvertising ExpenseBuildingsCashCommon StockDelivery TrucksDepreciation ExpenseDividendsEquipmentGasoline ExpenseGoodwillIncome SummaryInsurance ExpenseInterest ExpenseInterest PayableInventoryInvestmentsInvestment in StockLandLong-Term DebtMaintenance and Repairs ExpenseMiscellaneous ExpenseMortgage PayableNotes PayablePrepaid InsurancePrepaid RentProperty Tax ExpenseProperty Taxes PayableRent ExpenseRent RevenueRetained EarningsSalaries and Wages ExpenseSalaries and Wages PayableService RevenueShort-Term InvestmentSuppliesSupplies ExpenseTicket RevenueTravel ExpenseUnearned Rent RevenueUnearned Service RevenueUnearned Ticket RevenueUtilities Expense

Assignment 1: Evaluating and Acquiring Technology Your CEO realized that deep-routed organizational behavior issues are preventing your firm from moving to the next level. The CEO believes that some infusion of new technology will help. You have been assigned as the project manager for this endeavor, and the CEO needs a report from you regarding your assessment and plan to "right the ship". Write a 4-6 page paper in which you do the following: Describe the culture of your organizational behavior issues and the top three challenges that are present. Identify and discuss three technology changes that your organization will need to acquire and how they will address the key challenges facing the firm. Describe the plan that you will use to evaluate and acquire these technologies. Discuss how project management concepts from PMBOK will be crucial to your success in implementing these technologies. Go to https://research.strayer.edu to locate at least three quality resources in this assignment. Note: Wikipedia and similar websites do not qualify as quality resources. Your assignment must follow these formatting requirements: Be typed, double-spaced, using Times New Roman font (size 12), with 1-inch margins on all sides; citations and references must follow SWS (Strayer Writing Standards). Check with your professor for any additional instructions. Include a cover page containing the title of the assignment, the student’s name, the professor’s name, the course title, and the date. The cover page and the reference page are not included in the required assignment page length. The specific course learning outcomes associated with this assignment are:Examine the process of evaluating, acquiring, and implementing technology to address challenges in a given organization.

A company makes apple butter to supply local vendors. The manufacturing company can make 330 pounds of apple butter per day and demand from vendors is 190 pounds per day. Each time the manufacturing company makes apple butter, it costs $176 to set up the production process. The annual cost of carrying a pound of apples in a refrigerated storage area is $6.50. Determine the optimal ordering quantity and the minimum total annual inventory cost.