The following are the account balances in the ledger of Metcaffe Manufacturing Company compiled at the end of fiscal-year 6/31/2020. Prepare the reports as required in A to D. below. NOTES
A Prepare the unadjusted trial balance and determine the missing figure for Retained Earnings.
B
Using the above worksheet, record the necessary below adjustments

and process the balances up to Post closing trial balance.

1 Supplies still available at year-end is $2,300
2 Expired insurance for the year is $3,000
3 Annual depreciation expense on stores equipment is 12.5% of book value.
4 Annual depreciation expense on office equipment equipment is 10% of cost.
5 Four employees' wages accrued for 3 days work at the rate of $14/hr. each, working 8 hours a day.
6 Physical stock of inventory is $19,560, as at 3/31/2020.
C Prepare a multi-step income statement, in proper form, for period ended 3/31/2020.
Distribution of the following expenses between selling, and administration are as follows:
Salaries/wages 60:40; Insurance, telephone, and supplies 50:50;

Rent, vehicles maintenance, notes interest 70:30.

D
Prepare the classified Balance Sheet as at 3/31/2020.

Cash

$ 41,500

Accounts receivable

$ 28,700

Merchandise inventory

$ 21,930

Supplies

$ 11,800

Prepaid insurance

$ 3,600

Store equipment

$ 61,700

Accumulated Depr. - Stores equip.

$ 16,500

Office equipment

$ 39,550

Accumulated Depr. - Office equip.

$ 10,150

Accounts payable

$ 15,000

Salaries /wages payable

$ -

Common stock

$ 85,000

Retained earnings (Cr.)

?

Dividends paid

$ 17,500

Sales

$ 286,435

Sales discount

$ 4,108

Sales returns/allowances

$ 3,900

Cost of goods sold

$ 92,600

Depreciation expense-Stores equip

$ -

Depreciation expense-Office equip

$ -

Sales commission expense

$ 31,000

Salaries /wages expense

$ 49,700

Insurance expense

$ 1,200

Inventory shrinkage

$ -

Rent expense

$ 24,000

Supplies expense.

$ 7,200

Telephone, fax expenses

$ 1,960

Advertising exp

$ 8,100

Vehicle maintenance/running cost

$ 9,500

Net Income(Loss)

This problem has been solved! see the answerchapter 19 problem #8. quality and financial control (connect, perform)part one: geometrica designs and builds domes and space frames for large buildings. while the company had developed quality standards over time to respond to different client problems and training needs, it lacked a unified quality system, and its global client base wanted assurance that geometrica met an established international standard for quality. which of the following was an appropriate step for this company to take? a) reform its accounting and financial reporting systems to comply with sarbanes-oxleyb) establish and document a quality management system to comply with iso 9000management at workyou are the new fleet manager at xpressship, a package delivery company. as your first project, your boss has asked that you to look into implementing an electronic monitoring system for the fleet of 2,000 trucks your company owns. a recent internal audit on maintenance and repair costs on the company’s vehicles revealed while maintenance was performed regularly on the trucks, mileage or use had not been taken into account. this resulted in approximately $20,000 of unneeded repairs. you know that telematics have been used by other companies with fleets of cars or trucks and it will allow your company to not only track mileage and use, but also part replacement needs, vehicle oil pressure, and drivers’ speed and real time location. tracking these items can reduce maintenance costs while improving efficiency. you find that a simple computer can be installed in each vehicle. when the drivers return at the end of the day, the telematics information from each vehicle will be uploaded to a master computer where a software program will generate a report with results on the variables you have selected.early one morning as you are getting a cup of coffee, a few drivers that have been with the company for many years approach you with some concerns. eldon, the most senior driver says, “i heard you’re installing some type of computer to track our driving. my buddy works over at parcel and post package delivery and he said they’ve got these computers, too. he said managers are writing people up and firing drivers for speeding or not wearing seat belts. are you going to do that to us, too? ”part two: as a manager, which of the following statements would be effective in maintaining a positive relationship with company drivers? check all that apply.a) at this time, xpressship will be using telematics to monitor maintenance and repair needs, not drivers’ motoring habitsb) although the company isn’t doing so now, when xpressship begins to monitor driver motoring habits, the company will encourage them to keep a separate daily log where they can document any unusual circumstancesc) while xpressship could monitor things like speed, location, and idle time, the company trusts their drivers and will not be using that data in disciplinary decisionsd) xpressship executives are happy with their technology and believe that implementation is ideal for your organization

Over the past decade, brands that were once available only to the wealthy have created more affordable product extensions, giving a far broader range of consumers a taste of the good life. jaguar, for instance, launched its x-type sedan, which starts at $30,000 and is meant for the "almost rich" consumer who aspires to live in luxury. by marketing to people who desire a luxurious lifestyle, jaguar is using:

Which of the following would not generally be a motive for a firm to hold inventories? a. to decouple or separate parts of the production process b. to provide a stock of goods that will provide a selection for customers c. to take advantage of quantity discounts d. to minimize holding costs e. all of the above are functions of inventory.