Following are separate financial statements of Michael Company and Aar.docx
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Michael Company acquired Aaron Company on January 1, 2017 by issuing 20,000 shares of its common stock. At the time of acquisition, Aaron had $380,000 in retained earnings and $510,000 in total book value, with royalty agreements undervalued by $60,000 and a trademark valued at $50,000 not on its books. The document provides financial information for Michael and Aaron as of December 31, 2021 and instructs the reader to prepare a consolidation worksheet and determine account balances under the equity method for Michael's individual financial statements.
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I will give thumbs up for correct answers ASAP Thank you B.pdf
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Beale Management has a noncontributory, defined benefit pension plan. On December 31, 2024
(the end of Beale's fiscal year), the following pension-related data were available: Required:
Prepare a pension spreadsheet to show the relationship among the PBO, plan assets, prior
service cost, the net gain, pension expense, and the net pension asset. Note: Enter credit
amounts with a minus sign and debit amounts with a positive sign. Enter your answers in millions
(i.e., 10,000,000 should be entered as 10 ).Required: Prepare a pension spreadsheet to show the
relationship among the PBO, plan assets, prior service cost, the net gain, pension expense, and
the net pension asset. Note: Enter credit amounts with a minus sign and debit amounts with a
positive sign. Enter your answers in millions (i.e., 10,000,000 should be entered as 10)..
Allison Corporation acquired all of the outstanding voting stock of Ma.docx
Allison Corporation acquired all of the outstanding voting stock of Mathias, Inc, on January 1,2020, in exchange for $6 , 387 , 500 in cash. Allison intends to maintain Mathias as a wholly owned subsidiary. Both companies have December 31 fiscal year-ends. At the acquisition date, Mathias's stockholders' equity was $2 , 125 , 000 including retained earnings of $1 , 625 , 000 . At the acquisition date, Allison prepared the following fair-value allocation schedule for its newly acquired subsidiary: Postacquisition, Allison employs the equity method to account for its investment in Mathias. During the two years following the business combination, Mathias reports the following income and dividends: No asset impalrments have occurred since the acquisition date. Individual financial statements for each company as of December 31, 2021, follow. Parentheses indicate credit balances. Dividends declared were paid in the same period. Required: a. Determine the annual excess fair over book value amortization. b. Prepare a worksheet to determine the consolidated values to be reported on Allison's financial statements. Complete this question by entering your answers in the tabs below. Prepare a worksheet to determine the consolidated values to be reported on Allison's financial statements. (For accounts where multiple consolidation entries are required, combine all debit entries into one amount and enter this amount in the debit column of the worksheet. Similarly, combine all credit entries into one amount and enter this amount in the credit column of the. worksheet: Inout all amounts as oositive values.)
.
Can someone help with this- Attached is all the information- Thank you.docx
Can someone help with this? Attached is all the information. Thank you in advance!
On January 1, 2021, Casey Corporation exchanged $3 , 300 , 000 cash for 100 percent of the outstanding voting stock of Kennedy Corporation. Casey plans to maintain Kennedy as a wholly owned subsidiary with separate legal status and accounting information systems. At the acquisition date, Casey prepared the following fair-value allocation schedule: Immediately after closing the transaction, Casey and Kennedy prepared the following postacquisition balance sheets from their separate financial records (credit balances in parentheses). Prepare an acquisition-date consolidated balance sheet for Casey Corporation and its subsidiary Kennedy Corporation. (For accounts where multiple consolidation entries are required,combine all debit entries into one amount and enter this amount in the debit column of the worksheet. Similarly, combine all credit entries into one amount and enter this amount in the credit column of the Norksheet. Input all amounts as positive values.)
.
AC311—Marcus DoxeyHomework Assignment 3 – Pensions and Income Ta.docx
AC311—Marcus Doxey
Homework Assignment 3 – Pensions and Income Taxes
30 points
DUE Tuesday, October 8th, 2013 AT THE BEGINNING OF CLASS
NO LATE ASSIGNMENTS ACCEPTED
Required:
Complete the three problems on the following pages.
Notes and instructions:
Complete all questions by writing the answers in the spaces provided.
You may work with other people, but I recommend doing this on your own to make sure that you understand what you are doing—these concepts are very important.
It is important that you try to figure this out on your own; therefore, I will not answer any questions that give away an answer, but I am more than happy to help clarify concepts or answer other questions about the topic and assignment.
1. 3 points
On December 31, Year 1, Cohen Company established a noncontributory defined-benefit pension plan covering all of its employees. On that date, Cohen contributed $45,000 to the plan. No benefits were earned in Year 1. At December 31, Year 2, Cohen determined that the present value of all benefits earned in Year 2 was $63,000. The expected and actual return on plan assets for Year 2 was 8%. Cohen’s pension expense has no other components other than those implied by the information above. What amount should Cohen report in its December 31, Year 2, income statement as pension expense?
Work:
2. 3 points
The following information pertains to Wareham Company’s pension plan:
Actuarial estimate of projected benefit obligation (PBO) at 1/1/Year 1 $10,000
Assumed discount rate 4%
Service cost for Year 1 $2,400
Pension benefits paid during Year 1 $2,100
If no change in actuarial estimates occurred during Year 1, Wareham’s PBO at December 31, Year 1, is:
Work:
3. On December 31, Year 1 and Year 2, Cliff Garcia Company had the following defined benefit pension plan balances:
12/31/Y1
12/31/Y2
Fair value of plan assets
2,100,000
2,065,000
Projected benefit obligation
2,250,000
2,503,500
Unrecognized prior service cost
190,000
140,000
Unrecognized net loss
250,500
308,400
At December 31, Year 1, the employees participating in the plan had an average remaining service period of 5 years. No new prior service cost arose in Year 2.
The Year 2 service cost was $310,000. The company uses an expected return on plan assets of 7% when calculating net periodic pension cost, but had an actual return on plan assets in Year 2 of 4%. The company’s discount rate is 5%.
Contributions to the plan totaled $50,000 in year 2. There were no changes in actuarial assumptions during the year.
Part 1. 15 points
Calculate net periodic pension cost for Year 2. Enter the amounts in the spaces below, making sure to put a plus sign (+) in front of numbers that increase pension cost and a negative sign (-) in front of numbers that decrease pension cost:
Service cost (3 pts)
Interest cost (3 pts)
Return on plan assets (3 pts)
Amortization of prior service cost (3 pts)
Loss amortization (3 pts).
ill in the dollar changes caused in the Investment account and Div.docx
ill
in the dollar changes caused in the Investment account and Dividend Revenue or Investment Revenue account by each of the following transactions, assuming Crane Company uses (a) the fair value method and (b) the equity method for accounting for its investments in Hudson Company.
(Enter negative amounts using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45). Do not leave any answer field blank. Enter 0 for amounts.)
(a) Fair Value Method
(b) Equity Method
Transaction
Investment Account
Dividend Revenue
Investment Account
Investment Revenue
1.
At the beginning of Year 1, Crane bought 25% of Hudson's common stock at its book value. Total book value of all Hudson's common stock was $850,000 on this date.
2.
During Year 1, Hudson reported $54,000 of net income and paid $27,000 of dividends.
3.
During Year 2, Hudson reported $31,500 of net income and paid $20,000 of dividends.
4.
During Year 3, Hudson reported a net loss of $12,000 and paid $3,800 of dividends.
5.
Indicate the Year 3 ending balance in the Investment account, and cumulative totals for Years 1, 2, and 3 for dividend revenue and investment revenue.
Exercise 122 (Part Level Submission)
The following information is available for Irwin Company for 2018:
Net Income
$119,000
Realized gain on sale of available-for-sale debt securities
10,000
Unrealized holding gain arising during the period on available-for-sale debt securities
30,000
Reclassification adjustment for gains included in net income
7,500
(a)
Determine other comprehensive income for 2018.
Other comprehensive income
$
Exercise 123
On January 2, 2018, Tylor Company issued a 4-year, $600,000 note at 8% fixed interest, interest payable semiannually. Tylor now wants to change the note to a variable rate note. As a result, on January 2, 2018, Tylor Company enters into an interest rate swap where it agrees to receive 8% fixed and pay LIBOR of 5.5% for the first 6 months on $600,000. At each 6-month period, the variable interest rate will be reset. The variable rate is reset to 6.6% on June 30, 2018.
Compute the net interest expense to be reported for this note and related swap transaction as of June 30, 2018.
Net interest expense
$
LINK TO TEXT
Compute the net interest expense to be reported for this note and related swap transaction as of December 31, 2018.
Net interest expense
$
Brief Exercise 17-2
Pina Company purchased, on January 1, 2017, as an available-for-sale security, $65,000 of the 8%, 5-year bonds of Chester Corporation for $60,072, which provides
an
10% return.
Prepare Pina’s journal entries for (a) the purchase of the investment, (b) the receipt of annual interest and discount amortization, and (c) the year-end fair value adjustment. (Assume a zero balance in the Fair Value Adjustment account.) The bonds have a year-end fair value of $61,750.
(Round answers to 0 decimal places, e.g. 1,225..
The stockholders' equity accounts of Sheffield Corporation on January.pdf
The stockholders' equity accounts of Sheffield Corporation on January 1, 2022, were as follows.
During 2022, the corporation had the following transactions and events pertaining to its
stockholders ' equity. Feb. 1 Issued 24,000 shares of common stock for $117 , 000 . Apr. 14 Sold
6,000 shares of treasury stock-common for $33 , 700 . Sept. 3 Issued 5,100 shares of common
stock for a pathit valued at $35 , 000 . Nov. 10 Purchased 1,100 shares of common stock for the
treasury at a cost of $5 , 700 . Dec. 31 Determined that net income for the year was $420 , 000 ,
No dividends were declared during the year. Journalize the transactions and the closing entry for
net income. (List all debit entries before credit entries. Record journal entries in the order
presented in the problem. Credit account titles are automatically indented when amount is
entered. Do not indent manually.) Enter the beginning balances in the accounts, and post the
journal entries to the stockholders' equity accounts. (Use J5 for the posting reference.)
(Postentries in the order of joumal entries presented in the previous part.) Preferred Stock
Retained Earnings eTextbook and Media Assistance Used List of Accounts Attempts: 3 of 5 used
Prepare a stockholders' equity section at December 31, 2022. (Enter the account name only and
do not provide the descriptive information provided in the question.) SHEFFIELD
CORPORATION Balance Sheet (Partial) December 31,2022 Stockholders' Equity Paid-in
Capital Capital Stock: Preferred Stock Common Stock Total Capital Stock Additional Paid in
Capital Paid in Capital in Evcess of Par-Preferred Stock Paid in Capital in Excess of Stated
Value Common Stock Paid-in Caphtal from Treasury Stock Total Additional Paidfin Capitat
Total Paid-in Capital Retained Earnines Total Paid-in Capital and Retahed Cornizgs ? Treasary
stock Total Stockholders' Equity.
Beale Management has a noncontributory- defined benefit pension plan-.docx
Beale Management has a noncontributory, defined benefit pension plan, On December 31,2024 (the end of Beale's fiscal year), the following pension-related data were available: Required: Prepare a pension spreadsheet to show the relationship among the PBO, plan assets, prior service cost, the net gain, pension expense, and the net pension asset. Note: Enter credit amounts with a minus sign and debit amounts with a positive sign. Enter your answers in millions (i.e., 10 , 000 , 000 should be entered as 10 ). Required: Prepare a pension spreadsheet to show the relationship among the PBO, plan assets, prior service cost, the net gain, pension expense, and the net pension asset. Note: Enter credit amounts with a minus sign and debit amounts with a positive sign. Enter your answers in millions (I.e., 10 , 000 , 000 should be entered as 10 ).
.
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I will give thumbs up for correct answers ASAP Thank you B.pdf
I will give thumbs up for correct answers ASAP! Thank you!
Beale Management has a noncontributory, defined benefit pension plan. On December 31, 2024
(the end of Beale's fiscal year), the following pension-related data were available: Required:
Prepare a pension spreadsheet to show the relationship among the PBO, plan assets, prior
service cost, the net gain, pension expense, and the net pension asset. Note: Enter credit
amounts with a minus sign and debit amounts with a positive sign. Enter your answers in millions
(i.e., 10,000,000 should be entered as 10 ).Required: Prepare a pension spreadsheet to show the
relationship among the PBO, plan assets, prior service cost, the net gain, pension expense, and
the net pension asset. Note: Enter credit amounts with a minus sign and debit amounts with a
positive sign. Enter your answers in millions (i.e., 10,000,000 should be entered as 10)..
Allison Corporation acquired all of the outstanding voting stock of Ma.docx
Allison Corporation acquired all of the outstanding voting stock of Mathias, Inc, on January 1,2020, in exchange for $6 , 387 , 500 in cash. Allison intends to maintain Mathias as a wholly owned subsidiary. Both companies have December 31 fiscal year-ends. At the acquisition date, Mathias's stockholders' equity was $2 , 125 , 000 including retained earnings of $1 , 625 , 000 . At the acquisition date, Allison prepared the following fair-value allocation schedule for its newly acquired subsidiary: Postacquisition, Allison employs the equity method to account for its investment in Mathias. During the two years following the business combination, Mathias reports the following income and dividends: No asset impalrments have occurred since the acquisition date. Individual financial statements for each company as of December 31, 2021, follow. Parentheses indicate credit balances. Dividends declared were paid in the same period. Required: a. Determine the annual excess fair over book value amortization. b. Prepare a worksheet to determine the consolidated values to be reported on Allison's financial statements. Complete this question by entering your answers in the tabs below. Prepare a worksheet to determine the consolidated values to be reported on Allison's financial statements. (For accounts where multiple consolidation entries are required, combine all debit entries into one amount and enter this amount in the debit column of the worksheet. Similarly, combine all credit entries into one amount and enter this amount in the credit column of the. worksheet: Inout all amounts as oositive values.)
.
Can someone help with this- Attached is all the information- Thank you.docx
Can someone help with this? Attached is all the information. Thank you in advance!
On January 1, 2021, Casey Corporation exchanged $3 , 300 , 000 cash for 100 percent of the outstanding voting stock of Kennedy Corporation. Casey plans to maintain Kennedy as a wholly owned subsidiary with separate legal status and accounting information systems. At the acquisition date, Casey prepared the following fair-value allocation schedule: Immediately after closing the transaction, Casey and Kennedy prepared the following postacquisition balance sheets from their separate financial records (credit balances in parentheses). Prepare an acquisition-date consolidated balance sheet for Casey Corporation and its subsidiary Kennedy Corporation. (For accounts where multiple consolidation entries are required,combine all debit entries into one amount and enter this amount in the debit column of the worksheet. Similarly, combine all credit entries into one amount and enter this amount in the credit column of the Norksheet. Input all amounts as positive values.)
.
AC311—Marcus DoxeyHomework Assignment 3 – Pensions and Income Ta.docx
AC311—Marcus Doxey
Homework Assignment 3 – Pensions and Income Taxes
30 points
DUE Tuesday, October 8th, 2013 AT THE BEGINNING OF CLASS
NO LATE ASSIGNMENTS ACCEPTED
Required:
Complete the three problems on the following pages.
Notes and instructions:
Complete all questions by writing the answers in the spaces provided.
You may work with other people, but I recommend doing this on your own to make sure that you understand what you are doing—these concepts are very important.
It is important that you try to figure this out on your own; therefore, I will not answer any questions that give away an answer, but I am more than happy to help clarify concepts or answer other questions about the topic and assignment.
1. 3 points
On December 31, Year 1, Cohen Company established a noncontributory defined-benefit pension plan covering all of its employees. On that date, Cohen contributed $45,000 to the plan. No benefits were earned in Year 1. At December 31, Year 2, Cohen determined that the present value of all benefits earned in Year 2 was $63,000. The expected and actual return on plan assets for Year 2 was 8%. Cohen’s pension expense has no other components other than those implied by the information above. What amount should Cohen report in its December 31, Year 2, income statement as pension expense?
Work:
2. 3 points
The following information pertains to Wareham Company’s pension plan:
Actuarial estimate of projected benefit obligation (PBO) at 1/1/Year 1 $10,000
Assumed discount rate 4%
Service cost for Year 1 $2,400
Pension benefits paid during Year 1 $2,100
If no change in actuarial estimates occurred during Year 1, Wareham’s PBO at December 31, Year 1, is:
Work:
3. On December 31, Year 1 and Year 2, Cliff Garcia Company had the following defined benefit pension plan balances:
12/31/Y1
12/31/Y2
Fair value of plan assets
2,100,000
2,065,000
Projected benefit obligation
2,250,000
2,503,500
Unrecognized prior service cost
190,000
140,000
Unrecognized net loss
250,500
308,400
At December 31, Year 1, the employees participating in the plan had an average remaining service period of 5 years. No new prior service cost arose in Year 2.
The Year 2 service cost was $310,000. The company uses an expected return on plan assets of 7% when calculating net periodic pension cost, but had an actual return on plan assets in Year 2 of 4%. The company’s discount rate is 5%.
Contributions to the plan totaled $50,000 in year 2. There were no changes in actuarial assumptions during the year.
Part 1. 15 points
Calculate net periodic pension cost for Year 2. Enter the amounts in the spaces below, making sure to put a plus sign (+) in front of numbers that increase pension cost and a negative sign (-) in front of numbers that decrease pension cost:
Service cost (3 pts)
Interest cost (3 pts)
Return on plan assets (3 pts)
Amortization of prior service cost (3 pts)
Loss amortization (3 pts).
ill in the dollar changes caused in the Investment account and Div.docx
ill
in the dollar changes caused in the Investment account and Dividend Revenue or Investment Revenue account by each of the following transactions, assuming Crane Company uses (a) the fair value method and (b) the equity method for accounting for its investments in Hudson Company.
(Enter negative amounts using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45). Do not leave any answer field blank. Enter 0 for amounts.)
(a) Fair Value Method
(b) Equity Method
Transaction
Investment Account
Dividend Revenue
Investment Account
Investment Revenue
1.
At the beginning of Year 1, Crane bought 25% of Hudson's common stock at its book value. Total book value of all Hudson's common stock was $850,000 on this date.
2.
During Year 1, Hudson reported $54,000 of net income and paid $27,000 of dividends.
3.
During Year 2, Hudson reported $31,500 of net income and paid $20,000 of dividends.
4.
During Year 3, Hudson reported a net loss of $12,000 and paid $3,800 of dividends.
5.
Indicate the Year 3 ending balance in the Investment account, and cumulative totals for Years 1, 2, and 3 for dividend revenue and investment revenue.
Exercise 122 (Part Level Submission)
The following information is available for Irwin Company for 2018:
Net Income
$119,000
Realized gain on sale of available-for-sale debt securities
10,000
Unrealized holding gain arising during the period on available-for-sale debt securities
30,000
Reclassification adjustment for gains included in net income
7,500
(a)
Determine other comprehensive income for 2018.
Other comprehensive income
$
Exercise 123
On January 2, 2018, Tylor Company issued a 4-year, $600,000 note at 8% fixed interest, interest payable semiannually. Tylor now wants to change the note to a variable rate note. As a result, on January 2, 2018, Tylor Company enters into an interest rate swap where it agrees to receive 8% fixed and pay LIBOR of 5.5% for the first 6 months on $600,000. At each 6-month period, the variable interest rate will be reset. The variable rate is reset to 6.6% on June 30, 2018.
Compute the net interest expense to be reported for this note and related swap transaction as of June 30, 2018.
Net interest expense
$
LINK TO TEXT
Compute the net interest expense to be reported for this note and related swap transaction as of December 31, 2018.
Net interest expense
$
Brief Exercise 17-2
Pina Company purchased, on January 1, 2017, as an available-for-sale security, $65,000 of the 8%, 5-year bonds of Chester Corporation for $60,072, which provides
an
10% return.
Prepare Pina’s journal entries for (a) the purchase of the investment, (b) the receipt of annual interest and discount amortization, and (c) the year-end fair value adjustment. (Assume a zero balance in the Fair Value Adjustment account.) The bonds have a year-end fair value of $61,750.
(Round answers to 0 decimal places, e.g. 1,225..
The stockholders' equity accounts of Sheffield Corporation on January.pdf
The stockholders' equity accounts of Sheffield Corporation on January 1, 2022, were as follows.
During 2022, the corporation had the following transactions and events pertaining to its
stockholders ' equity. Feb. 1 Issued 24,000 shares of common stock for $117 , 000 . Apr. 14 Sold
6,000 shares of treasury stock-common for $33 , 700 . Sept. 3 Issued 5,100 shares of common
stock for a pathit valued at $35 , 000 . Nov. 10 Purchased 1,100 shares of common stock for the
treasury at a cost of $5 , 700 . Dec. 31 Determined that net income for the year was $420 , 000 ,
No dividends were declared during the year. Journalize the transactions and the closing entry for
net income. (List all debit entries before credit entries. Record journal entries in the order
presented in the problem. Credit account titles are automatically indented when amount is
entered. Do not indent manually.) Enter the beginning balances in the accounts, and post the
journal entries to the stockholders' equity accounts. (Use J5 for the posting reference.)
(Postentries in the order of joumal entries presented in the previous part.) Preferred Stock
Retained Earnings eTextbook and Media Assistance Used List of Accounts Attempts: 3 of 5 used
Prepare a stockholders' equity section at December 31, 2022. (Enter the account name only and
do not provide the descriptive information provided in the question.) SHEFFIELD
CORPORATION Balance Sheet (Partial) December 31,2022 Stockholders' Equity Paid-in
Capital Capital Stock: Preferred Stock Common Stock Total Capital Stock Additional Paid in
Capital Paid in Capital in Evcess of Par-Preferred Stock Paid in Capital in Excess of Stated
Value Common Stock Paid-in Caphtal from Treasury Stock Total Additional Paidfin Capitat
Total Paid-in Capital Retained Earnines Total Paid-in Capital and Retahed Cornizgs ? Treasary
stock Total Stockholders' Equity.
Beale Management has a noncontributory- defined benefit pension plan-.docx
Beale Management has a noncontributory, defined benefit pension plan, On December 31,2024 (the end of Beale's fiscal year), the following pension-related data were available: Required: Prepare a pension spreadsheet to show the relationship among the PBO, plan assets, prior service cost, the net gain, pension expense, and the net pension asset. Note: Enter credit amounts with a minus sign and debit amounts with a positive sign. Enter your answers in millions (i.e., 10 , 000 , 000 should be entered as 10 ). Required: Prepare a pension spreadsheet to show the relationship among the PBO, plan assets, prior service cost, the net gain, pension expense, and the net pension asset. Note: Enter credit amounts with a minus sign and debit amounts with a positive sign. Enter your answers in millions (I.e., 10 , 000 , 000 should be entered as 10 ).
.
Wilco Corporation has the following account balances at December 3.docx
Wilco Corporation has the following account balances at December 31, 2012.
Common stock, $5 par value
$555,600
Treasury stock
90,720
Retained earnings
2,426,200
Paid-in capital in excess of par—common stock
1,321,900
Prepare Wilco’s December 31, 2012, stockholders’ equity section. (For preferred stock, common stock and treasury stock enter the account name only and do not provide the descriptive information provided in the question.)
WILCO CORPORATION
Stockholders’ Equity
December 31, 2012
$
:
$
Sprinkle Inc. has outstanding 10,050 shares of $10 par value common stock. On July 1, 2012, Sprinkle reacquired 107 shares at $89 per share. On September 1, Sprinkle reissued 61 shares at $90 per share. On November 1, Sprinkle reissued 46 shares at $85 per share.
Prepare Sprinkle’s journal entries to record these transactions using the cost method. (If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually.)
Date
Account Titles and Explanation
Debit
Credit
7/1/12
9/1/12
11/1/12
Graves Mining Company declared, on April 20, a dividend of $519,800, on its $5 par common stock, payable on June 1. Of this amount, $133,700 is a return of capital.
Prepare the April 20 and June 1 entries for Graves. (If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually.)
Date
Account Titles and Explanation
Debit
Credit
Apr. 20
June 1
Apr. 20 Retained Earnings = ($519,800 – $133,700) = $386,100
Abernathy Corporation was organized on January 1, 2012. It is authorized to issue 10,290 shares of 8%, $65 par value preferred stock, and 544,000 shares of no-par common stock with a stated value of $2 per share. The following stock transactions were completed during the first year.
Jan. 10
Issued 80,330 shares of common stock for cash at $6 per share.
Mar. 1
Issued 5,670 shares of preferred stock for cash at $113 per share.
Apr. 1
Issued 24,730 shares of common stock for land. The asking price of the land was $90,540; the fair value of the land was $80,330.
May 1
Issued 80,330 shares of common stock for cash at $9 per share.
Aug. 1
Issued 10,290 shares of common stock to attorneys in payment of their bill of $50,620 for services rendered in helping the company organize.
Sept. 1
Issued 10,290 shares of common stock for cash at $11 per share.
Nov. 1
Issued 1,940 shares of preferred stock for cash at $115 per share.
Prepare the journal entries to record the above transactions. (If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually.)
Date
Account Titles and Explanation
Debit
Credit
Jan. 10
M.
Problem 1 (10 Points)Jackson Browne Corporation is authorized to.docx
Problem 1 (10 Points)
Jackson Browne Corporation is authorized to issue 1,000,000 shares of $1 par value common stock. During 2021, its first year of operation, the company has the following stock transactions.
Jan. 1 Paid the state $10,000 for incorporation fees.
Jan. 15 Issued 400,000 shares of stock at $5 per share.
July 2 Issued 110,000 shares of stock for land. The land had an asking price of $800,000. The stock is currently selling on a national exchange at $6 per share.
Sept. 5 Purchased 12,000 shares of common stock for the treasury at $7 per share.
Dec. 6 Sold 8,000 shares of the treasury stock at $10 per share.
Instructions
Indicate the accounts and their respective balances that are increased and/or decreased in the above transactions for Jackson Browne Corporation.
You must show your computations to receive full credit.
Problem 2 (12 Points)
The following items were shown on the balance sheet of ELO Corporation on December 31, 2021:
Stockholders’ equity
Paid-in capital
Capital stock
Common stock, $6 par value, 800,000 shares
authorized; ______ shares issued and ______ outstanding $3,000,000
Additional paid-in capital
In excess of par
1,500,000
Total paid-in capital 4,500,000
Retained earnings
1,850,000
Total paid-in capital and retained earnings 6,350,000
Less: Treasury stock (10,000 shares)
50,000
Total stockholders’ equity
$6,300,000
Instructions
Complete the following statements and
show your computations.
(a) The number of shares of common stock issued was _______________.
(b) The number of shares of common stock outstanding was ____________.
(c) The total sales price of the common stock when issued was $____________.
(d) The cost per share of the treasury stock was $_______________.
(e) The average issue price of the common stock was $______________.
(f) Assuming that 25% of the treasury stock is sold at $8 per share, the balance in the Treasury Stock account would be $_______________.
Problem 3 (10 Points)
Journey Company had the following transactions involving notes payable.
October 1, 2021 Borrows $300,000 from Washington State Bank by signing a 6-month, 4% note.
Dec. 31, 2021 prepares the adjusting entry.
April 1, 2022 Pays principal and interest to Washington State Bank.
Instructions
Indicate the accounts and their respective balances that are increased and/or decreased for each of the above transactions.
You must show all your calculations to receive full credit.
Problem 4 (18 Points)
Turner Inc. is considering two alternatives to finance its construction of a new $6 million plant.
(a) Issuance of 600,000 shares of common stock at the market price of $10 per share.
(b) Issuance of $6 million, 4% bonds at par.
Instructions
Complete the following table.
You MUST show your work to receive full credit.
Issue StockIssue Bond.
Journalize the 2022 transactions and post to the account Stock inv.pdf
Journalize the 2022 transactions and post to the account Stock investments. (Use the Taccount
form) (Rht ail debit entries before credit entries Credit account titler are outanoticoly indented
when omount is entered. Do not indent manually. If no entry is required, select "No entry" for
the account titles and enter Ofor the amounts. Record journol entries in the order presented in the
problem)
On December 31,2021 , the end of its first year of operations, Wildhorse Associates owned the
following securities, that are held as a long-term investments. The securities are not held for
influence or control of the investee. On Decamber 31, 2021, the total fair value of the securities
was equal to its cost. in 2022, the following transactions occurred. Mug: 1 Received 3050 per
share canh dividend on Gehring Co, common stock Sept. 1 Sold 1440 shares of Wooderson Ca.
commonstock for cash at $8 per share. Oc. 1 Sold 760 shares of Gehring Co. common stock for
cash at $33 per share. Now 1 Received $1 per share cash dividend on Kitselton Co. common
stock. Dec. 15 Recrived saso per shase cash dividend on Gehring Co. common stock. Dec. 31
Recelved $1 per share aninual cash dividend on Wooderson Ca. comman stock: At December 31,
the fair values per stare of the common stocks were: Gehring Co. $32. Wooderson Ca, 58 , and
Kitselton Ca. $20. These investments should be classifed as lons term..
ACC 423 Expect Success/newtonhelp.com
For more course tutorials visit
www.newtonhelp.com
This Tutorial contains Excel File which can be used for any change in values
Week 5 Final Exam
CPA Question 01
CPA Question 02
Corporation acquired all of the outstanding voting stock of Mathias- I.pdf
Corporation acquired all of the outstanding voting stock of Mathias, Inc., on January 1 , 2020 , in
exchange for $5 , 875 , 000 in cash. Allison intends to maintain Mathias as a wholly owned
subsidiary. Both companies have December 31 fiscal year-ends. At the acquisition date,
Mathias's stockholders' equity was $2 , 000 , 000 including retained earnings of $1 , 500 , 000 .
At the acquisition date, Allison prepared the following fair-value allocation schedule for its
newly acquired subsidiary: Postacquisition, Allison employs the equity method to account for its
investment in Mathias. During the two years following the business combination, Mathias
reports the following income and dividends: No asset impairments have occurred since the
acquisition date. Individual financial statements for each company as of December 31,2021 ,
follow. Parentheses indicate credit balances. Dividends declared were paid in the same period.
Required: a. Show how Allison determined its December 31, 2021, Investment in Mathias
balance. b. Prepare a worksheet to determine the consolidated values to be reported on Allison's
financial statements..
Acc 422-week-4-wiley plus-ex-13
uop acc 422 week 4 connect knowledge check,uop acc 422 week 4,acc 422 week 4,uop acc 422 week 4 tutorial,uop acc 422 week 4 assignment,uop acc 422 week 4 help
Acc 422-week-4-wiley plus-ex-13
uop acc 422 week 3 dq 1 job design,acc 422 week 3 dq 2 organizational life cycles,acc 422 week 3 quiz,uop acc 422 week 3,acc 422 week 3,uop acc 422 week 3 tutorial,uop acc 422 week 3 assignment,uop acc 422 week 3 help
Following is summary income statement data for GEl- Net patent balanc.docx
Following is summary income statement data for GEl. Net patent balance on December 31 of the current year is $8 , 000 . a. Prepare comparative balance sheets as of December 31 of the prior year and December 31 of the current year. - Note: Do not use negative signs with your answers. b. Prepare a statement of cash flows using the indirect method to present cash flows from operating activities. - Note: Include a negative sign (-) for any amount that would be subtracted in the statement of cash flows. Note payable settled with common stock $ Indirect Method- Preparing a Statement of Cash Flows and Comparative Balance Sheets from Financial Data Linda Ray, the president of GEl Corporation, requires a statement of cash flows for its annual report ending December 31 . The following balance sheet data are from GEl. 1. The December 31 year-end Cash balance decreased by $25 , 000 from $43 , 000 to $18 , 000 . 2. The net balance in Accounts Receivable decreased by $10 , 000 during the year from $60 , 000 to $50 , 000 . The company had no short-term investments. 3. Inventory increased $9 , 000 from $71 , 000 to $80 , 000 . 4. Accounts Payable increased $3 , 000 during the year from $29 , 000 to $32 , 000 . Income Tax Payable increased $4 , 000 during the year from $4 , 000 to $8 , 000 . Salaries Payable decreased by $5 , 000 during the year from $9 , 000 to $4 , 000 . There were no other current liabilities. 5. During December, the company settled a $10 , 000 note payable (fully liquidating the outstanding balance) by issuing shares of its own common stock with equal value. $25 , 000 . 7. Sale and issuance of GEI common stock for $20 , 000 cash. The December 31 , prior year, balance of Common Stock was $50 , 000 . 8. Issuance of a long-term mortgage note, $30 , 000 cash. 9. Accumulated Depreciation is $52 , 000 on December 31 of the current year. 10. Retained Earnings on December 31 of the prior year is $67 , 000 . 11. Sold fixed assets; the following entry was made: Following is summary income statement data for GEl.
.
Ghocse the correct answer below- A- No- because the probabafy of burvi.docx
Ghocse the correct answer below. A. No, because the probabafy of burvival and the probabity of survival given a first class passenger are not the same. B. No, because the probabilify of survival and the probobility of survival given a first class passenger are the same. C. Yes, because the prebsebily of survival and the probabilty of survival glven a first class passonger are not the same D. Yet, because the probablity of survival and the probabi ty of survival gieen a frst clase pasbenger are the tame. and mises the tain? The probabily is proand to thee decmal places an Deedod.)
.
Given Data- MAGLIOCHETTI MOVING CORP- Statement of Earni.docx
Given Data:
MAGLIOCHETTI MOVING CORP.
Statement of Earnings Statement of Financial Position
For the Period Ended December 31, 2020
At December 31, 2020
Transportation revenue$90,000 Assets
Expenses:
Cash $2,000
Salaries expense15,000 Receivables 3,000
Maintenance expense14,000 Inventory of maintenance supplies 5,000
Other expenses20,000 Equipment 45,000
Total expenses$49,000 Prepaid expenses 5,000
Net earnings$41,000 Other assets 25,000
Total assets $85,000
Liabilities
Accounts payable $9,000
Shareholders' Equity
Contributed capital (10,000 shares outstanding) 35,000
Retained earnings 41,000
Total liabilities and shareholders' equity $85,000
Additional information:
Number of shares
10,000 (a)Maintenance supplies on hand, December 31, 2020
$3,000 (b)Prepaid insurance at December 31, 2020
$2,500
(Total insurance premium paid in 2020 was debited to Prepaid Insurance)
(c)Cost of equipment purchased on January 1, 2020
$45,000
Unrecorded depreciation expense for 2020
$9,000 (d)Unpaid (and unrecorded) salaries at December 31, 2020
$1,500 (e)At December 31, 2020, transportation revenue collected in advance (credited to Transportation Revenue when cash was received)$5,000 (f)Income tax rate
30%
.
From this table- which mineral level had a significance on which varia.docx
From this table, which mineral level had a significance on which variable? WBC=white blood cells, LYMPH=lymphocytes, NEU = neutrophils. Table 3 Haemogram of stallions fed with the two dietary treatments at the end of the experimental feeding ( T 1 ) From: Effects of Dietary Zn/Se and a-Tocopherol Supplementation on Metabolic Milieu. Haemogram and Semen Traits of Breeding Stallions Zn, WBC Cu, LYMPH Se, LYMPH Zn, NEU Cu , WBC
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Given a ListItem class- complete main() using the built-in list type t.docx
Given a ListItem class, complete main() using the built-in list type to create a linked list called shoppingList . The program should read items from input (ending with -1), adding each item to shoppingList, and output each item in shoppingList using the PrintNodeData() function.
Ex. If the input is:
Basil leaves
Watermelon
Lemon juice
Kosher salt
Paprika
-1
the output is:
Basil leaves
Watermelon
Lemon juice
Kosher salt
Paprika
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Given a -discrete object- O- the notationO means what- Choose all the.docx
Given a "discrete object" O, the notationO means what? Choose all the answer
a. The cardinality of O
b. The encoding of O as a Turing machine
c. The encoding of O as a finite string
d. The language decided by O
e. The length of O
f. The language recognized by O
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Give five examples of unsustainable living or actions from your own ev.docx
Give five examples of unsustainable living or actions from your own everyday life. ( 5 pts ) Now that you know what they are, how likely are you to work on being more sustainable in those areas? Thoughts?
.
Give an inductive definition of the function rev which takes a list an.docx
Give an inductive definition of the function rev which takes a list and returns its reverse. In your definition, you can use the append function L 1 + + L 2 which apends two lists L 1 and L 2 . Use your definition to verify that rev [ 4 , 3 , 7 ] = [ 7 , 3 , 4 ] .
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Give a big-Oh characterization- in terms of n- of the running time of.docx
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Give at least 2 reasons why an entire population of microbes does not.docx
Give at least 2 reasons why an entire population of microbes does not die instantly. Each reason should be explained and supported by evidence. Clearly explain what is wrong with the statement. The terms that are Directions for the students: There ore 4 essay questions. Please be sure to comgleie al of them wth inorough nubgtwntive repponses, Citatiepe are reguied for all responsen. There is to vime limit. 1. Precisely what is mierobial death? 2. Why does o population of riciobes not die inatananeosly when e posed to an antiraicrobal agent? continize, provideng evderer and citmions to auppent your stance.
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Giovani Photography bills $650 to Diane Fenning for photography servic.docx
Giovani Photography bills $650 to Diane Fenning for photography services provided. Which of the following journal entries is recorded correctly? DR: Senvice Revenue S650: CR. Accounte Rarcaivabid S650 DR: Accounts Receivable $650 ; CR: Unearned Revenue $650 Incorrect. Read - 3.5 Use Journal Entries to Record Transactions and Post to TAccounts. Review the impact on financial statements by (1) examining if a transaction is an accounting transaction which has a monetary impact, (2) classifying the accounts that may be affected and the accounting equation category they may fall under, and (3) determining if the accounts will increase or decrease affecting debit or credit side. DR: Cash \$650; CR: Service Revenue $650
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Germ Theory was a framework that--- All of these argued that disease w.docx
Germ Theory was a framework that... All of these argued that disease was caused by pathogenic micro-organisms. argued that medicine could isolate the organism from the diseased 'host,' or human condition shifted expertise in public health from engineers and planners to biologists and clinicians. discredited the 'miasma' theory, which linked disease to noxious "bad air" emanating from rotting organic matter. What is redlining? (check all that apply) the government practice of outlining parkpoor neighborhoods the practice of denying mortgages or loans in specific neighborhoods, usually where communities of color and low-income communities lived the practice of drawing red lines to outline the neighborhoods where banks and lenders shouldn't make loans None of these
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General Knowledge- In 1927 The Jazz Singer- starring Al Jolson- was hi.docx
General Knowledge: In 1927 The Jazz Singer, starring Al Jolson, was historically important as:
The last silent film
The first sound film ("talkie")
A performance that was broadcast exclusively on the radio
A Broadway musical set in the 1850s
General Knowledge: This rhythmic element heard in Swing music and other jazz-related styles features off-beat accents that go against the regular steady beat.
Call-and-response
Crooning
Improvisation
Syncopation
General Knowledge: This Country Blues artist exemplifies the "wandering musician" experience of many African-American male performers from the South, in the early-20th century.
Blind Lemon Jefferson
Gene Austin
Jimmie Rodgers
Glenn Miller
.
Gereldo recently won a lottery and chose to receive $70-000 todsy inst.docx
Gereldo recently won a lottery and chose to receive $70 , 000 todsy instead of an equivalent amount in 10 years, computed using an 8. percert rote of return. Today, he leamed that interest rates are expected to increase in the future. Use Fahibit 31. Is this good news for Geraldo given his decision? FXHIBIT 3-1 Present Value of a Single Payment at Various Anmual Rates of
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Similar to Following are separate financial statements of Michael Company and Aar.docx
Wilco Corporation has the following account balances at December 3.docx
Wilco Corporation has the following account balances at December 31, 2012.
Common stock, $5 par value
$555,600
Treasury stock
90,720
Retained earnings
2,426,200
Paid-in capital in excess of par—common stock
1,321,900
Prepare Wilco’s December 31, 2012, stockholders’ equity section. (For preferred stock, common stock and treasury stock enter the account name only and do not provide the descriptive information provided in the question.)
WILCO CORPORATION
Stockholders’ Equity
December 31, 2012
$
:
$
Sprinkle Inc. has outstanding 10,050 shares of $10 par value common stock. On July 1, 2012, Sprinkle reacquired 107 shares at $89 per share. On September 1, Sprinkle reissued 61 shares at $90 per share. On November 1, Sprinkle reissued 46 shares at $85 per share.
Prepare Sprinkle’s journal entries to record these transactions using the cost method. (If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually.)
Date
Account Titles and Explanation
Debit
Credit
7/1/12
9/1/12
11/1/12
Graves Mining Company declared, on April 20, a dividend of $519,800, on its $5 par common stock, payable on June 1. Of this amount, $133,700 is a return of capital.
Prepare the April 20 and June 1 entries for Graves. (If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually.)
Date
Account Titles and Explanation
Debit
Credit
Apr. 20
June 1
Apr. 20 Retained Earnings = ($519,800 – $133,700) = $386,100
Abernathy Corporation was organized on January 1, 2012. It is authorized to issue 10,290 shares of 8%, $65 par value preferred stock, and 544,000 shares of no-par common stock with a stated value of $2 per share. The following stock transactions were completed during the first year.
Jan. 10
Issued 80,330 shares of common stock for cash at $6 per share.
Mar. 1
Issued 5,670 shares of preferred stock for cash at $113 per share.
Apr. 1
Issued 24,730 shares of common stock for land. The asking price of the land was $90,540; the fair value of the land was $80,330.
May 1
Issued 80,330 shares of common stock for cash at $9 per share.
Aug. 1
Issued 10,290 shares of common stock to attorneys in payment of their bill of $50,620 for services rendered in helping the company organize.
Sept. 1
Issued 10,290 shares of common stock for cash at $11 per share.
Nov. 1
Issued 1,940 shares of preferred stock for cash at $115 per share.
Prepare the journal entries to record the above transactions. (If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually.)
Date
Account Titles and Explanation
Debit
Credit
Jan. 10
M.
Problem 1 (10 Points)Jackson Browne Corporation is authorized to.docx
Problem 1 (10 Points)
Jackson Browne Corporation is authorized to issue 1,000,000 shares of $1 par value common stock. During 2021, its first year of operation, the company has the following stock transactions.
Jan. 1 Paid the state $10,000 for incorporation fees.
Jan. 15 Issued 400,000 shares of stock at $5 per share.
July 2 Issued 110,000 shares of stock for land. The land had an asking price of $800,000. The stock is currently selling on a national exchange at $6 per share.
Sept. 5 Purchased 12,000 shares of common stock for the treasury at $7 per share.
Dec. 6 Sold 8,000 shares of the treasury stock at $10 per share.
Instructions
Indicate the accounts and their respective balances that are increased and/or decreased in the above transactions for Jackson Browne Corporation.
You must show your computations to receive full credit.
Problem 2 (12 Points)
The following items were shown on the balance sheet of ELO Corporation on December 31, 2021:
Stockholders’ equity
Paid-in capital
Capital stock
Common stock, $6 par value, 800,000 shares
authorized; ______ shares issued and ______ outstanding $3,000,000
Additional paid-in capital
In excess of par
1,500,000
Total paid-in capital 4,500,000
Retained earnings
1,850,000
Total paid-in capital and retained earnings 6,350,000
Less: Treasury stock (10,000 shares)
50,000
Total stockholders’ equity
$6,300,000
Instructions
Complete the following statements and
show your computations.
(a) The number of shares of common stock issued was _______________.
(b) The number of shares of common stock outstanding was ____________.
(c) The total sales price of the common stock when issued was $____________.
(d) The cost per share of the treasury stock was $_______________.
(e) The average issue price of the common stock was $______________.
(f) Assuming that 25% of the treasury stock is sold at $8 per share, the balance in the Treasury Stock account would be $_______________.
Problem 3 (10 Points)
Journey Company had the following transactions involving notes payable.
October 1, 2021 Borrows $300,000 from Washington State Bank by signing a 6-month, 4% note.
Dec. 31, 2021 prepares the adjusting entry.
April 1, 2022 Pays principal and interest to Washington State Bank.
Instructions
Indicate the accounts and their respective balances that are increased and/or decreased for each of the above transactions.
You must show all your calculations to receive full credit.
Problem 4 (18 Points)
Turner Inc. is considering two alternatives to finance its construction of a new $6 million plant.
(a) Issuance of 600,000 shares of common stock at the market price of $10 per share.
(b) Issuance of $6 million, 4% bonds at par.
Instructions
Complete the following table.
You MUST show your work to receive full credit.
Issue StockIssue Bond.
Journalize the 2022 transactions and post to the account Stock inv.pdf
Journalize the 2022 transactions and post to the account Stock investments. (Use the Taccount
form) (Rht ail debit entries before credit entries Credit account titler are outanoticoly indented
when omount is entered. Do not indent manually. If no entry is required, select "No entry" for
the account titles and enter Ofor the amounts. Record journol entries in the order presented in the
problem)
On December 31,2021 , the end of its first year of operations, Wildhorse Associates owned the
following securities, that are held as a long-term investments. The securities are not held for
influence or control of the investee. On Decamber 31, 2021, the total fair value of the securities
was equal to its cost. in 2022, the following transactions occurred. Mug: 1 Received 3050 per
share canh dividend on Gehring Co, common stock Sept. 1 Sold 1440 shares of Wooderson Ca.
commonstock for cash at $8 per share. Oc. 1 Sold 760 shares of Gehring Co. common stock for
cash at $33 per share. Now 1 Received $1 per share cash dividend on Kitselton Co. common
stock. Dec. 15 Recrived saso per shase cash dividend on Gehring Co. common stock. Dec. 31
Recelved $1 per share aninual cash dividend on Wooderson Ca. comman stock: At December 31,
the fair values per stare of the common stocks were: Gehring Co. $32. Wooderson Ca, 58 , and
Kitselton Ca. $20. These investments should be classifed as lons term..
ACC 423 Expect Success/newtonhelp.com
For more course tutorials visit
www.newtonhelp.com
This Tutorial contains Excel File which can be used for any change in values
Week 5 Final Exam
CPA Question 01
CPA Question 02
Corporation acquired all of the outstanding voting stock of Mathias- I.pdf
Corporation acquired all of the outstanding voting stock of Mathias, Inc., on January 1 , 2020 , in
exchange for $5 , 875 , 000 in cash. Allison intends to maintain Mathias as a wholly owned
subsidiary. Both companies have December 31 fiscal year-ends. At the acquisition date,
Mathias's stockholders' equity was $2 , 000 , 000 including retained earnings of $1 , 500 , 000 .
At the acquisition date, Allison prepared the following fair-value allocation schedule for its
newly acquired subsidiary: Postacquisition, Allison employs the equity method to account for its
investment in Mathias. During the two years following the business combination, Mathias
reports the following income and dividends: No asset impairments have occurred since the
acquisition date. Individual financial statements for each company as of December 31,2021 ,
follow. Parentheses indicate credit balances. Dividends declared were paid in the same period.
Required: a. Show how Allison determined its December 31, 2021, Investment in Mathias
balance. b. Prepare a worksheet to determine the consolidated values to be reported on Allison's
financial statements..
Acc 422-week-4-wiley plus-ex-13
uop acc 422 week 4 connect knowledge check,uop acc 422 week 4,acc 422 week 4,uop acc 422 week 4 tutorial,uop acc 422 week 4 assignment,uop acc 422 week 4 help
Acc 422-week-4-wiley plus-ex-13
uop acc 422 week 3 dq 1 job design,acc 422 week 3 dq 2 organizational life cycles,acc 422 week 3 quiz,uop acc 422 week 3,acc 422 week 3,uop acc 422 week 3 tutorial,uop acc 422 week 3 assignment,uop acc 422 week 3 help
Following is summary income statement data for GEl- Net patent balanc.docx
Following is summary income statement data for GEl. Net patent balance on December 31 of the current year is $8 , 000 . a. Prepare comparative balance sheets as of December 31 of the prior year and December 31 of the current year. - Note: Do not use negative signs with your answers. b. Prepare a statement of cash flows using the indirect method to present cash flows from operating activities. - Note: Include a negative sign (-) for any amount that would be subtracted in the statement of cash flows. Note payable settled with common stock $ Indirect Method- Preparing a Statement of Cash Flows and Comparative Balance Sheets from Financial Data Linda Ray, the president of GEl Corporation, requires a statement of cash flows for its annual report ending December 31 . The following balance sheet data are from GEl. 1. The December 31 year-end Cash balance decreased by $25 , 000 from $43 , 000 to $18 , 000 . 2. The net balance in Accounts Receivable decreased by $10 , 000 during the year from $60 , 000 to $50 , 000 . The company had no short-term investments. 3. Inventory increased $9 , 000 from $71 , 000 to $80 , 000 . 4. Accounts Payable increased $3 , 000 during the year from $29 , 000 to $32 , 000 . Income Tax Payable increased $4 , 000 during the year from $4 , 000 to $8 , 000 . Salaries Payable decreased by $5 , 000 during the year from $9 , 000 to $4 , 000 . There were no other current liabilities. 5. During December, the company settled a $10 , 000 note payable (fully liquidating the outstanding balance) by issuing shares of its own common stock with equal value. $25 , 000 . 7. Sale and issuance of GEI common stock for $20 , 000 cash. The December 31 , prior year, balance of Common Stock was $50 , 000 . 8. Issuance of a long-term mortgage note, $30 , 000 cash. 9. Accumulated Depreciation is $52 , 000 on December 31 of the current year. 10. Retained Earnings on December 31 of the prior year is $67 , 000 . 11. Sold fixed assets; the following entry was made: Following is summary income statement data for GEl.
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Similar to Following are separate financial statements of Michael Company and Aar.docx (8)
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Problem 1 (10 Points)Jackson Browne Corporation is authorized to.docx
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Journalize the 2022 transactions and post to the account Stock inv.pdf
Journalize the 2022 transactions and post to the account Stock inv.pdf
Corporation acquired all of the outstanding voting stock of Mathias- I.pdf
Corporation acquired all of the outstanding voting stock of Mathias- I.pdf
Following is summary income statement data for GEl- Net patent balanc.docx
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Given Data:
MAGLIOCHETTI MOVING CORP.
Statement of Earnings Statement of Financial Position
For the Period Ended December 31, 2020
At December 31, 2020
Transportation revenue$90,000 Assets
Expenses:
Cash $2,000
Salaries expense15,000 Receivables 3,000
Maintenance expense14,000 Inventory of maintenance supplies 5,000
Other expenses20,000 Equipment 45,000
Total expenses$49,000 Prepaid expenses 5,000
Net earnings$41,000 Other assets 25,000
Total assets $85,000
Liabilities
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Retained earnings 41,000
Total liabilities and shareholders' equity $85,000
Additional information:
Number of shares
10,000 (a)Maintenance supplies on hand, December 31, 2020
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$2,500
(Total insurance premium paid in 2020 was debited to Prepaid Insurance)
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Germ Theory was a framework that--- All of these argued that disease w.docx
Germ Theory was a framework that... All of these argued that disease was caused by pathogenic micro-organisms. argued that medicine could isolate the organism from the diseased 'host,' or human condition shifted expertise in public health from engineers and planners to biologists and clinicians. discredited the 'miasma' theory, which linked disease to noxious "bad air" emanating from rotting organic matter. What is redlining? (check all that apply) the government practice of outlining parkpoor neighborhoods the practice of denying mortgages or loans in specific neighborhoods, usually where communities of color and low-income communities lived the practice of drawing red lines to outline the neighborhoods where banks and lenders shouldn't make loans None of these
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General Knowledge: In 1927 The Jazz Singer, starring Al Jolson, was historically important as:
The last silent film
The first sound film ("talkie")
A performance that was broadcast exclusively on the radio
A Broadway musical set in the 1850s
General Knowledge: This rhythmic element heard in Swing music and other jazz-related styles features off-beat accents that go against the regular steady beat.
Call-and-response
Crooning
Improvisation
Syncopation
General Knowledge: This Country Blues artist exemplifies the "wandering musician" experience of many African-American male performers from the South, in the early-20th century.
Blind Lemon Jefferson
Gene Austin
Jimmie Rodgers
Glenn Miller
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Gereldo recently won a lottery and chose to receive $70 , 000 todsy instead of an equivalent amount in 10 years, computed using an 8. percert rote of return. Today, he leamed that interest rates are expected to increase in the future. Use Fahibit 31. Is this good news for Geraldo given his decision? FXHIBIT 3-1 Present Value of a Single Payment at Various Anmual Rates of
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genomes are usually circular loops of double-stranded deoxyribonucleic.docx
genomes are usually circular loops of double-stranded deoxyribonucleic acid; genomes are usually multiple, linear chains of double-stranded DNA.
Group of answer choices
prokaryotic; eukaryotic
bacteriophages, human viruses
bacterial; viral
fungi; parasitic helminths
nuclear, mitochondrial
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2) underlying principles
3) nursing interventions
of the if the above disorder relating it to fiber intake.
Thanks
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Geert Hofstede surveyed more than 116,000 IBM employees in 40 countries about their work-related values and found the manager and employees vary on five dimensions of natural culture. Using the data from Hofstede, please look at Mexico and the United States and answer the following questions. Write a 3-4 sentence paragraph for each question.
1. How do you think employees in each country might be likely to view their relationship with their boss?
2. How do you think employees in each country might react to a change in the workplace?
3. Looking at the information from Hofstede, why is it important to understand cultural differences?
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Gale- Mctean- and Lux are partners of Burgers and Brew Company with ca.docx
Gale. Mctean, and Lux are partners of Burgers and Brew Company with capltal balances as follows: Gale, \$104 000; Mct ean, \$103,000; and Lux, \$164,000. The partners share profit and losses in a 3:2.5 ratio. Mclean decides to withdraw from the partnership. Prepare General Journal entries to record the May 1, 2024, withdrawal of Mclean from the partnership under each of the following unrelated assumptions: a. McLean sells his interest to Freedman for $185 , 000 after Gale and Lux approve the entry of Freedman as a partner (whicre Mctean receives the cash personally from Freedman). Journal entry worksheet b. Mciean gives his interest to a son-in-law, Park. Gale and Lux accept Park as a partner. Journal entry worksheet Pote: Enter dehits befare credits. c. Mclean is poid $103 , 000 in partnership cash for his equily. Journal entry worksheet Record withdrawal of Mctean, where he is paid $103 , 000 in partnersbip cash for his equity. Note Eular idebits bafore credith: d. Mclean is paid $149.000 in partnership cash for his equity. Journal entry worksheet Recoard the withdrawal of Mctean. 6. Mckean is pald $44 , 250 in partnership cash plus machinery that is recorded on the partnership books at $132 , 000 less accumulated depreclation of $100 , 000 . (Round final answers to 2 decimal places.) Journal entry worksheet Nuteit Enter-Aebits before oredits.
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Future valuesFor the case shown in the following table, calculate the future value of the single cash flow deposited today and held until the end of the deposit period if the interest is compounded annually at the rate specified.(Click on the icon here in order to copy the contents of the data table below into a spreadsheet.) Single cash flow Interest rate Deposit period (years) $400 7% 11 Question content area bottom Part 1 The future value is $enter your response here.
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Function Name: isOneCapital Input: 1. (char) A letter 2. (char) A letter 3. (char) A letter Output: 1. (logical) Is at least one of the letters a Capital letter Examples: answer1 = isoneCapital ( A , I j , ' ' ) >>answer1 = 1 answer2 = isoneCapital ( z , ' ', ' f ') >> answer2 = 0 answer3 = isonecapital('s', 'w', ' M ') > >answer 3 = 1
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