E-F15-11 Accounting for debt investments Peyton Investments complete.pdf

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E-F:15-11 Accounting for debt investments Peyton Investments completed the following investment transactions during 2024: Requirements 1. Journalize Peyton's investment transactions. Explanations are not required. 2. Preparc a partial balance sheet for Peyton's Vedder investment as of December 31 , 2024. 3. Prepare a comprehensive income statement for Peyton Investments for year ended December 31, 2024. Assume net income was $200,000. E-F:15-11 Accounting for debt investments Learning Objectives 2,4 Peyton Investments completed the following investment transactions during 2024: Requirements 1. Journalize Peyton's investment trnsactions. Explanations are not required. 2. Prepare a partial balance sheet for Peyton's Vedder investment as of December 31, 2024. 3. Prepare a comprehensive income statement for Peyton Investments for year ended December 31,2024 . Assume net income was $200,000..

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E10-38. (Reporting reconciliation between fund and government-wide financial statements) Return to your solution to Exercise E10-28, regarding Oliver City's capital assets. Using the journal entries you prepared for that exercise, prepare the wording and the numbers you would use in describing the reconciliation of the amounts reported in the two funds' financial statements to the two governmentwide financial statements. Q10-28. (Capital asset adjustments for government-wide financial statements) Oliver City reported capital assets of $4,300,000 and accumulated depreciation of $2,000,000 in the governmental activities column of its government-wide statement of net position for the year ended December 31, 2021. The total governmental funds column in Oliver's calendar year 2022 statement of revenues, expenditures, and changes in fund balances showed that Oliver's capital outlay expenditures were $340,000. Oliver City's director of finance estimated that total depreciation for 2022 was $200,000. Based on this information, prepare journal entries to adjust Oliver's 2022 fund financial statements so government-wide statements can be prepared..

i dont have any other information-this is the whole question Q1- Conso.docx

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i dont have any other information.this is the whole question Q1: Consolidated Financial Statements and Goodwill Impairment (20 POINTS) Hullett Enterprises acquired Owens, Inc, on January 1, 2021. The $450 , 000 excess of cost over book value of Owens' net assets was partly attributable to a patent undervalued by $200 , 000 . The patent has a 10-year life. The remaining excess is considered goodwill. The separate financial statements of the two companies for 2025 are presented below. a. Prepare all necessary consolidation entries for 2025 consolidated financial statements. b. Now assume that at year-end a goodwill impairment test is conducted betore the consolidated statements are issued. The estimated fair value of the subsidiary is $1 , 500 , 000 . The fair value of the identifiable net assets is $1 , 300 , 000 . Prepare any journal entries resulting from the test. .

Journal entry worksheet Prepare any journal entry needed to.pdf

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Journal entry worksheet Prepare any journal entry needed to adjust the investment to fair value. Note: Enter debits before credits. Journal entry worksheet Record the sale of the investment by Tanner-UNF. Note: Enter debits before credits. Exercise 12-5 (Static) Trading securities [LO12-1, 12-3] Tanner-UNF Corporation acquired as an investment $240 million of 6% bonds, dated July 1 , on July 1,2024 . Company management is holding the bonds in its trading portfolio. The market interest rate (yield) was 8% for bonds of similar risk and maturity. Tanner-UNF paid $200 million for the bonds. The company will receive interest semiannually on June 30 and December 31 . As a result of changing market conditions, the fair value of the bonds at December 31,2024 , was $210 million. Required: 1. \& 2. Prepare the journal entry to record Tanner-UNF's investment in the bonds on July 1, 2024 and interest on December 31, 2024, at the effective (market) rate. 3. Prepare any additional journal entry necessary for Tanner-UNF to report its investment in the December 31, 2024, balance sheet. 4. Suppose Moody's bond rating agency downgraded the risk rating of the bonds motivating Tanner-UNF to sell the investment on January 2,2025 , for $190 million. Prepare the journal entries required on the date of sale. Prepare the journal entry to record Tanner-UNF's investment in the bonds on July 1, 2024 and interest on December 31, 2024, at the effective (market) rate. Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Do not round intermediate calculations. Enter your answers in millions rounded to 1 decimal place, (1.e., 5,500,000 should be entered as 5.5). Show less A Journal entry worksheet 2 Record Tanner- UNF's investment in the bonds on July 1, 2024. Note: Enter debits before credits..

ACC Principles Intermediate Part Five.ppt

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ch04 (1).pptx

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PFINANCE Based on Statement of Comprehensive Income and Sta.pdf

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P.FINANCE Based on Statement of Comprehensive Income and Statements of Financial Position, you need to calculate financial ratios (show your workings). Based on your calculation, interpret, and compare the performance for the year 2022 and the year 2021 based on the following categories of ratio: Liquidity: i. Current ratio ii. Quick ratio Asset Management: i. Inventory turnover ii. Receivables turnover iii. Total assets turnover iv. Average collection period Debt Management: i. Total debt ratio ii. Times interest earned ratio Profitability: i. Net profit margin ii. Return on assets iii. Return on equity PLS DO HELP ME TO ANSWER THE QUESTIONS. I'M POSTING THIS FOR THE SECOND TIME. PLS I DONT WANT ANY COPY & PASTE WORK. THANK YOU... Liquidity: i. Current ratio ii. Quick ratio Asset Management: i. Inventory turnover ii. Receivables turnover iii. Total assets turnover iv. Average collection period Debt Management: i. Total debt ratio ii. Times interest earned ratio Profitability: i. Net profit margin ii. Return on assets iii. Return on equity STATEMENT OF FINANCIAL POSITION AS AT 31 DECEMBER 2022 begin{tabular}{rrrrr} & & 2022 & 2021 & Note & RM & RM hline end{tabular} ASSETS Non-current assets Investment properties Investment properties - accrued lease income Current assets LIABILITIES Non-current liabilities Trade and other payables Borrowings Deferred tax liability Current liabilities Trade and other payables BorrowingsSTATEMENT OF FINANCIAL POSITION AS AT 31 DECEMBER 2022 (CONT'D) Before the proposed final income distribution of 1.90 sen per unit (2021: 2.55 sen per unit) After the proposed final income distribution of 1.90 sen per unit (2021: 2.55 sen per unit)STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2022STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2022 (CONT'D) 2022 ncome distribution per unit* First interim income distribution Second interim income distribution Third interim income distribution Proposed final income distribution begin{tabular}{ll} 2.20 & 2.50 2.25 & 2.20 1.85 & 2.50 1.90 & 2.55 hline 8.20 & 9.75 hline end{tabular} Withholding tax will be deducted for distributions made to the following categories of unitholders:.

ACC 206 Entire Course (Principles of Accounting II - entirecourse.com)John Sperling

Recording Transactions, Preparing Journal Entries, Posting to T-Accou.pdf

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Recording Transactions, Preparing Journal Entries, Posting to T-Accounts, Preparing a Statement of Financial Position, and Evaluating the Current Ratio (P2-5) BCE Inc., Canadn's largest communications company, provides a comprehensive and innovative suite of broadband communications and content services to consumer, residential, business, and governme customers in Canada. The following is BCE's (simplified) statement of financial position from a recent year: Assume that the following transactions (in millions of dollars) occurred in fiscal year 2021 (ended on December 31, 2021): a. Issued additional shares for $200 in cash. b. Borrowed $6,300 from creditors; due in 10 years. Long Term 300 c. Purchased additional investments for $1,500 cash; one-fifth were long-term and the rest were short-term. 1200 d. Purchased property, plant, and equipment; paid $4,650 in cash and $850 with additional long-term bank loans. e. Lent $250 to associated companies that signed a six-month note. f. Sold short-term investments costing $200 for $200 cash. Required: 1. Prepare a journal entry for each transaction. 2. Create a T- account for each item on the statement of financial position and include the December 31 , 2020 balances. Post each journal entry to the appropriate T-account. 3. Prepare a trial balance as at December 31, 2021. 4. Prepare a statement of financial position for BCE based on the T-account ending balances at December 31, 2021. 5. Compute BCE's current ratio for fiscal year 2021. What does this suggest about the company?.

Bridgeport Compary has decided to expand its operations. The bookkeeper recently completed the following balance sheet in order to obtain additional funds for exparision. Prepare a revised balance sheet given the available information. Assume that the accumulated depreciation balance for the buildings is $171 , 000 and for the equipment. $116 , 000 . The allowance for doubtful accounts has a balance of $28 , 000 . The pension obligation is considered a long-term liability. (List Current Assets in order of liquidity. List Property. Plant and Equipment in order of Buildings and Equipment. Enter account name only and do not provide the descriptive information provided in the question.) Balance Sheet December 31,2020 Assets Current Assets Cash Equity lnvestments Accounts Recelvable 5 5 Less v : Allowance for Doubtful Accounts Inventory Prepaid Expenses Total Current Assets: Long-term investments Long-term Investments Liabilities and Stockholders' Equity 5 Total Liabinities Stockholders' Cquity .

decrease). If there is no effect on Recording Transactions, Preparing.pdf

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decrease). If there is no effect on Recording Transactions, Preparing Journal Entries, Posting to T-Accounts, Preparing a Statement of Financial Position, and Evaluating the Current Ratio (P2- 5) BCE Inc., Canada's largest communications company, provides a comprehensive and innovative suine of broadband communications and content services to consumer, residential, business, and governmente customers in Canada. The following is BCE's (simplified) statement of financial position from a recent year: CHAPTER 2 Investing and Financing Decisions and the Accounting Srrtem 107 Assume that the following transactions (in millions of dollars) occurred in fiscal year 2021 (ended on December 31, 2021): a. Issued additional shares for $200 in cash. b. Borrowed $6,300 from creditors; due in 10 years. c. Purchased additional investments for $1,500 cash; one-fifth were long-term and the rest were short-term. d. Purchased property, plant, and equipment; paid $4,650 in cash and $850 with additional long-term bank loans. e. Lent $250 to associated companies that signed a six-month note. f. Sold short-term investments costing $200 for $200 cash. Required: 1. Prepare a journal entry for each transaction. 2. Create a T-account for each item on the statement of financial position and include the December 2020 balances. Post each journal entry to the appropriate T-account. 3. Prepare a trial balance as at December 31, 2021. 4. Prepare a statement of financial position for BCE based on the T-account ending balances at December 31, 2021. 5. Compute BCE's current ratio for fiscai ycar 2021. What does this suggest about the company?.

AP2-5 Recording Transactions, Preparing Journal Entries, Posting to T.pdf

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AP2-5 Recording Transactions, Preparing Journal Entries, Posting to T.Accounts, Preparing a Statement of Financial Position, and Evaluating the Current Rabo G9 (P2-5) LO2-5, ) 2-6 BCE Ine. iesidential business, and povernnient custoiners in Canada. The followne is BCE s (simplified) stateinent of financial position from a recent sear Non-current assets Property, plant, and equipment, net 27.513 Long-term investments 756 Intangible assets 13,102 Goodwill 10,604 Other non-current assets Total assets 3,002560,665 LIABILITIES AND SHAREHOLDERS' EQUTTY Current liabilities Trade payables and other liabilities \$ 3,935 Interest payable 222 Current tax liabilities 214 Dividends payable 766 Debt due within one year 2,417 Other current liabilities Total current liabilities 7178,271 Non-current liabilities Long-term debt 23.906 Other non-current liabilities Total non-current liabilities Total liabilities 31,0657.159 Shareholders' equity $60,66521,329 Total liabilities and shareholders' equity Assume that the followne transactions (in mallions of dollars) occurred in fiscal year 2021 (ended on December 31. 2021) a. Issued additional shares for $200 in cash. 6. Borrowed $6,300 from creditors, due in 10 years c. Purchased additionalamestments for $1,500 cash, one-fifth were long-term and the rest were short-tern a Purchased property; plant, and equpment, paid $+650 in cash and $50 with additional loneterim bank loans c Lent $250 to associated companies that siened a sixmonth note f Sold thonterm investments costune $200 for $200cash Required: 1 Prepare a journai entry for each transaction 2 Create a Taccount for each itein on the statement of fnancial position and include the December 31,2020 balances Post each journal entry to the appropriate T. account 3 Prepare a trial balance as at December J1, 2021 4. Prepare a atateinent of financial postion for BCE based on the T-accountendine balances at December 31,2021 5. Compute BCE's curcent ratio for flscaljesr 2021 What does thes superat about the company?.

The post-closing trial balance of Wildhorse Corporation at December 3.pdf

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The post-closing trial balance of Wildhorse Corporation at December 31,2022 , contains the following stockholders' equity accounts. A review of the accounting records reveals the following. 1. No errors have been made in recording 2022 transactions or in preparing the closing entry for net income. 2. Preferred stock is $50 par, 6%, and cumulative, 15,800 shares have been outstanding since January 1,2021. 3. Authorized stock is 20,800 shares of preferred, 520,000 shares of common with a $10 par value. 4. The January 1 balance in Retained Earnings was $1,190,000. 5. On July 1,19,400 shares of common stock were issued for cash at $18 per share. 6. On September 1, the company discovered an understatement error of $92,400 in computing salaries and wages expense in 2021 . The net of tax effect of $64,680 was properly debited directly to Retained Earnings. 7. A cash dividend of $260,000 was dectared and properly allocated to preferred and common stock on October 1. No dividends were paid to preferred stockholders in 2021. 8. On December 31 , a 10% common stock dividend was declared out of retained eamings on common stock when the market price per share was $18. 9. Net income for the year was $595,000. 10. On December 31,2022 , the directors authorized disclosure of a $208,000 restriction of retained earnings for plant Compute the allocation of the cash dividend to preferred and common stock. Allocation of the cash dividend to preferred stock Allocation of the cash dividend to common stock (a) Reproduce the Retained Earnings account for 2022. (Uist items in order presented in the problem.) Prepare a stockholders' equity section at December 31, 2022. (Enter account name only and do not provide descriptive information) WILDHORSE CORPORATION Partial Balance Sheet $$.

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E-F15-11 Accounting for debt investments Peyton Investments complete.pdf

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E-F15-11 Accounting for debt investments Peyton Investments complete.pdf