Part A In late 2020, the Nicklaus Corporation was formed. The corporate charter authorizes the
issuance of 6,000,000 shares of common. stock carrying a $1 par value, and 2,000,000 shares of
$5 par value, noncumulative, nonparticipating preferred stock. On January 2 , 2021,4,000,000
shares of the common stock are issued in exchange for cash at an average price of $12 per share.
Also on January 2. ail 2,000,000 shares of preferred stock are issued at $25 per share. Required:
1. Prepare journal entries to record these transactions. 2. Prepare the shareholders' equity section
of the Nicklaus bolance sheet as of March 31, 2021. (Assume net income for the first. quarter
2021 was $1,650,000. Part B During 2021, the Nickdaus Corporation partiopated in three treasury
stock transactions: a. On June 30,2021 b. On July 31, 2021, 15, 0ution reacquires 230,000 shares
for the treasury at a price of $14 per share. c. On September 30,2021,15,000 treasury shares are
reissued ot $12 per share. Required: 1. Prepare journal entries to record these transactions. 2.
Prepare the Nicklaus Corporation shareholders' equity section as it would appear in a balance
sheet prepared at September 30. 2021. (Assume net income for the second and third quarter was
$3,150,000 ) Part C On October 1, 2021, Nicklaus Corporation receives permission to replace its
$1 par value common stock (6,000,000 shares authorized, 4,000,000 shares issued, and 3,800,
000 shares outstanding) with a new common stock issue having a $0.50 par value. Since the new
par value is one-haif the amount of the old, this represents a 2.for-1 stock split. That is, the
shareholders will receive two shares of the $0.50 par stock in exchange for each share of the $1
par stock they own. The $1 por stock will be collected and destroyed by the issuing corporation.
On November 1, 2021, the Nicklaus Corporation declares a $0.16 per share cash dividend on
common stock and a $0.33 per share cash dividend on preferred stock. Payment is scheduled for
December 1, 2021, to shareholders of record on November 15, 2021. On December 2, 2021, the
Nicklaus Corporation declares a ts stock dividend payable on December 28, 2021, to sharehoiders
of record on December 14. At the date of deciaration, the common stock was seling in the open
market at $12 per share. The dividend will resuit in 76,000(0.017,600,000) additional shares being
issued to shareholders. Required: 1. Prepare journat entries to record the deciaration and
payment of these stock and cash dividends. 2. Prepare the December 31, 2021, shareholders'
equity section of the balance sheet for the Nicklaus Corporation. (Assume net income for the
fourth quarter was $2,650,000j 3. Prepare a statement of shareholders' equity for Nicilaus
Corporation for 2021.On December 2, 2021, the Nicklaus Corporation declares a 1% stock
dividend payable on December 28, 2021, to shareholders of record on December 14. At the date
of declaration, the common stock was selling in the open market a.
Journalize the transactions and the closing entry for net income. .pdfmukeshkumawat551
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 poat the journal entries to the stockhol ders'
equity accounts. (Use J5 for the
(c) Prspars a stockhalders' squity section at Decamber 31, 2022. (Enter the account name only
and do not provide the descriptive information provided in the question.) CULVER
CORPORATION Balance Sheet (Partial) $$
The stockholders' equity accounts of Culver 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 $116,000. Apr. 14 Sold
6,000 shares of treasury stock-common for $32,900. Sept. 3 Issued 5,200 shares of common
stock for a patent valued at \$35,700. Nov. 10 Purchased 1,000 shares of common stock for the
treasury at a cost of $5,700. Dec. 31 Determined that net income for the year was $415,000. No
dividends were declared during the year..
Problem 1 (10 Points)Jackson Browne Corporation is authorized to.docxLacieKlineeb
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.
The post-closing trial balance of Wildhorse Corporation at December 3.pdffairdealinternationa
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 $$.
Wilco Corporation has the following account balances at December 3.docxalanfhall8953
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.
The stockholders' equity accounts of Sheffield Corporation on January.pdfaasmaainternational
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.
ProblemIssuance of stock organization costs. Snowbound Corporat.docxbriancrawford30935
Problem
Issuance of stock: organization costs. Snowbound Corporation was incorporated in July. The firm's charter authorized the sale of 200,000 shares of $10 par-value common stock. The following transactions occurred during the year:
7/1:
Sold 45,000 shares of common stock to investors for $18 per share. Cash was collected and the shares were issued.
7/7:
Issued 600 shares to Sharon Dale, attorney-at-law, for services rendered during the corporation's organizational phase. Dale charged $12,600 for her work.
8/11:
Sold 20,000 shares to investors for $22 per share. Cash was collected and the shares were issued.
12/14:
Issued 30,000 shares to the MJB Company for land valued at $900,000.
Instructions
Prepare journal entries to record each transaction.
Student Guidance ReportAshford University ACC205Guidance ReportWeek FourLISTEN TO AUDIO/VIDEO EXPLAINING THE GUIDANCE REPORTYELLOW INDICATES ACCOUNT AMOUNTS CHANGEDChange Account to:Based Upon Course Start DateAccount to
be changedOriginal
AmountJan - FebMar-AprMay-JunJul-AugSept-OctNov-DecCh 7 Ex 2Loan$ 225,000$ 250,000$ 260,000$ 270,000$ 280,000$ 290,000$ 450,000QuestionsYOUR ANSWERS BASED UPON COURSE START DATEa. Compute Hall’s accrued interest as of December 31, 20X1.b. Present the appropriate balance sheet disclosure for the accrued interest and the current and long-term portion of the outstanding debt as of December 31, 20X1.c. Repeat parts (a) and (b) using a date of December 31, 20X2, rather than December 31, 20X1. Assume that Hall is in compliance with the terms of the loan agreement.Accrued interest 12/31/X2DisclosureAccount to
be changedOriginal
AmountJan - FebMar-AprMay-JunJul-AugSept-OctNov-DecCh 7 Ex 4Salary expense5000051,00052,00053,00054,00055,00056,000QuestionsYOUR ANSWERS BASED UPON COURSE START DATESalary expenseSocial Security PayableMedicare PayableFed Taxes PayableState Taxes PayableInsurance PayableCashPayroll Tax ExpenseSocial Security PayableMedicare PayableState unemploymentFed unemploymentAccount to
be changedOriginal
AmountJan - FebMar-AprMay-JunJul-AugSept-OctNov-DecCh 7 Pb 212/1 Note payable2000025,00026,00028,00030,00031,00033,00012/1 Interest rate015%15%15%15%15%15%Warranty2027202820292030203120322033Purchase on account1600017,00018,00019,00020,00021,00022,000Note payable50006,0007,0008,0009,00010,00011,000Warranty repair162172182192202222232Salary accural14001,5001,6001,7001,8001,9002,000Vacation6%360006%37,0006%38,0006%39,0006%40,0006%41,0006%42,00012/26 interest120$ 120$ 120$ 120$ 120$ 120$ 120a. Prepare journal entries to record the preceding transactions and events.CashNotes PayableWarranty expenseWarranty LiabilityMerchandiseAccounts PayableCashNote PayableWarranty LiabilityCashSalary ExpenseSalary PayablePayroll ExpenseAccrued Vacation Payableb. Determine accrued interest as of December 31, 20XX, and prepare the necessary adjusting entry or entries.12/1 one month accrual12/26 60 day note-accrue 5 daysTotal Interest Acc.
PART C 1- Petra Corporation paid $500-000 for 80- of the outstanding.pdfreachaakar
PART C
1- Petra Corporation paid $500,000 for 80% of the outstanding voting common stock of Sizable
Corporation on January 2, 2022 when the book value of Sizable's net assets was $460,000. The
fair values of Sizable's identifiable net assets were equal to their book values except as indicated
below.
Book Fair
Value Value
Inventories (sold in 2022) $80,000 $112,000
Buildings-net (15-year life) 200,000 170,000
Note Payable (paid in 2022) 20,000 21,250
Sizable reported net income of $75,000 during 2022; dividends of $35,000 were declared and
paid during the year. (10 Marks)
Required:
1. Prepare a schedule to allocate the fair value/book value differential to the specific identifiable
assets and liabilities.
2. Determine Petra's income from Sizable for 2022.
3. Determine the correct balance in the Investment in Sizable account as of December 31, 2022.
2- On December 31, 2021, Paladium International purchased 70% of the outstanding common
stock of Sennex Chemical. Paladium paid $140,000 for the shares and determined that the fair
value of all recorded Sennex assets and liabilities approximated their book values, with the
exception of a customer list that was not recorded and had a fair value of $10,000, and an
expected remaining useful life of 5 years. At the time of purchase, Sennex had stockholders'
equity consisting of capital stock amounting to $20,000 and retained earnings amounting to
$80,000. Any remaining excess fair value was attributed to goodwill. The separate financial
statements at December 31, 2022 appear in the first two columns of the consolidation
workpapers shown below. (10 Marks)
Required:
Complete the consolidation working papers for Paladium and Sennex for the year 2022.
Paladium
Sennex
Eliminations
Consolidated
Debit
Credit
INCOME STATEMENT Sales
331,900
48,000
Income of Sennex
9,100
Cost of Sales
(148,000)
(25,000)
Other Expenses
(72,000)
( 8,000)
Noncontrolling Interest Share
Net income
121,000
15,000
Retained Earnings 1/1
846,000
80,000
Add:Net income
121,000
15,000
Less: Dividends
(9,000)
(4,000)
Retained Earnings 12/31
958,000
91,000
BALANCE SHEET
Cash
135,000
64,000
Accounts Receivable-net
227,000
160,000
Inventories
316,000
86,000
Land
80,000
40,000
Equipment and Buildings-net
469,000
230,000
Investment in Sennex
146,300
Customer List
Goodwill
TOTAL ASSETS
1,373,300
580,000
LIAB. & EQUITY Accounts payable
305,300
469,000
Capital
Stock
110,000
20,000
Retained Earnings
958,000
91,000
1/1 Noncontrol.
Interest
12/31 Noncontrol. Int.
TOTAL LIAB. & EQUITY
1,373,300
580,000
Eliminations C onsolidated
Paladium S ennex
Debit Credit
INCOME STATEMENT Sales 331,900 48,000
Income of Sennex 9,100
Cost of Sales (148,000) ( 25,000)
Other Expenses (72,000) ( 8,000)
Noncontrolling Interest Share
Net income 121,000 15,000
Retained Earnings 1/1 846,000 80,000
Add:Net income 121,000 15,000
Less: Dividends (9,000) (4,000)
Retained Earnings 12/31 958,000 91,000
BALANCE SHEET
135,000 64,000
Cash
Accounts Receivable-net 227,000 160,000
Invento.
Intermediate Accounting I Final Exam Booklet Replacement.docxmariuse18nolet
Intermediate Accounting I
Final Exam Booklet
Replacement
Part A
20 Point Questions ( 3 questions x 20 points = 60 total points)
Show all work.
1. The following information is provided in the 2011 annual report to shareholders of The
BizStore:
Required: Compute U-Z in the table above.
2. Shown below is the activity for one of the products of Random Creations:
January 1 balance, 80 units @ $50 $4,000
2a. Compute the ending inventory and cost of goods sold assuming Random Creations
uses FIFO.
2b. Compute the ending inventory and cost of goods sold assuming Random Creations
uses LIFO and perpetual inventory system.
2c. Compute the ending inventory and cost of goods sold assuming Random Creations
uses LIFO and a periodic inventory system.
2d. Compute the ending inventory and cost of goods sold assuming Random Creations
uses average cost and a periodic inventory system.
2e. Compute the ending inventory and cost of goods sold assuming Random Creations
uses average cost and a perpetual inventory system.
3. On January 3, 2011, Michelson & Sons acquired a tract of land just outside the city
limits. The land and existing building were purchased for $2.4 million. Michelson paid
$400,000 and signed a noninterest-bearing note requiring the company to pay the
remaining $2,000,000 on December 31, 2012. An interest rate of 7% properly reflects the
time value of money for this type of loan agreement. Transfer taxes, title insurance and
other costs totaling $24,000 were paid at closing.
During February, the old building was demolished at a cost of $120,000, and an
additional $100,000 was paid to clear and grade the land. Construction of a new building
began on March 1 and was completed on October 30. Construction expenditures were as
follows:
Michelson did not borrow specifically for the construction project, but did have the
following debt outstanding throughout 2011:
$6,000,000, 8% long-term note payable
$2,000,000, 5% long-term note payable
In December, the company purchased equipment and office furniture and fixtures for a
lump-sum price of $800,000. The fair values of the equipment and the furniture and
fixtures were $540,000 and $360,000, respectively. In December, Michelson paid
$340,000 for the construction of parking lots and landscaping.
Required:
3a. Determine the initial values of the various assets that Michelson acquired or
constructed during 2011.
3b. How much interest expense will Michelson report in its 2011 income statement?
Part B:
4 Point Questions (10 questions x 4 points = 40 total points)
Show all work.
1. Tri Fecta, a partnership, had revenues of $360,000 in its first year of operations. The
partnership has not collected on $35,000 of its sales, and still owes $40,000 on $150,000
of merchandise they purchased. There was no inventory on hand at the end of the year.
The partnership paid $25,0.
Journalize the transactions and the closing entry for net income. .pdfmukeshkumawat551
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 poat the journal entries to the stockhol ders'
equity accounts. (Use J5 for the
(c) Prspars a stockhalders' squity section at Decamber 31, 2022. (Enter the account name only
and do not provide the descriptive information provided in the question.) CULVER
CORPORATION Balance Sheet (Partial) $$
The stockholders' equity accounts of Culver 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 $116,000. Apr. 14 Sold
6,000 shares of treasury stock-common for $32,900. Sept. 3 Issued 5,200 shares of common
stock for a patent valued at \$35,700. Nov. 10 Purchased 1,000 shares of common stock for the
treasury at a cost of $5,700. Dec. 31 Determined that net income for the year was $415,000. No
dividends were declared during the year..
Problem 1 (10 Points)Jackson Browne Corporation is authorized to.docxLacieKlineeb
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.
The post-closing trial balance of Wildhorse Corporation at December 3.pdffairdealinternationa
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 $$.
Wilco Corporation has the following account balances at December 3.docxalanfhall8953
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.
The stockholders' equity accounts of Sheffield Corporation on January.pdfaasmaainternational
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.
ProblemIssuance of stock organization costs. Snowbound Corporat.docxbriancrawford30935
Problem
Issuance of stock: organization costs. Snowbound Corporation was incorporated in July. The firm's charter authorized the sale of 200,000 shares of $10 par-value common stock. The following transactions occurred during the year:
7/1:
Sold 45,000 shares of common stock to investors for $18 per share. Cash was collected and the shares were issued.
7/7:
Issued 600 shares to Sharon Dale, attorney-at-law, for services rendered during the corporation's organizational phase. Dale charged $12,600 for her work.
8/11:
Sold 20,000 shares to investors for $22 per share. Cash was collected and the shares were issued.
12/14:
Issued 30,000 shares to the MJB Company for land valued at $900,000.
Instructions
Prepare journal entries to record each transaction.
Student Guidance ReportAshford University ACC205Guidance ReportWeek FourLISTEN TO AUDIO/VIDEO EXPLAINING THE GUIDANCE REPORTYELLOW INDICATES ACCOUNT AMOUNTS CHANGEDChange Account to:Based Upon Course Start DateAccount to
be changedOriginal
AmountJan - FebMar-AprMay-JunJul-AugSept-OctNov-DecCh 7 Ex 2Loan$ 225,000$ 250,000$ 260,000$ 270,000$ 280,000$ 290,000$ 450,000QuestionsYOUR ANSWERS BASED UPON COURSE START DATEa. Compute Hall’s accrued interest as of December 31, 20X1.b. Present the appropriate balance sheet disclosure for the accrued interest and the current and long-term portion of the outstanding debt as of December 31, 20X1.c. Repeat parts (a) and (b) using a date of December 31, 20X2, rather than December 31, 20X1. Assume that Hall is in compliance with the terms of the loan agreement.Accrued interest 12/31/X2DisclosureAccount to
be changedOriginal
AmountJan - FebMar-AprMay-JunJul-AugSept-OctNov-DecCh 7 Ex 4Salary expense5000051,00052,00053,00054,00055,00056,000QuestionsYOUR ANSWERS BASED UPON COURSE START DATESalary expenseSocial Security PayableMedicare PayableFed Taxes PayableState Taxes PayableInsurance PayableCashPayroll Tax ExpenseSocial Security PayableMedicare PayableState unemploymentFed unemploymentAccount to
be changedOriginal
AmountJan - FebMar-AprMay-JunJul-AugSept-OctNov-DecCh 7 Pb 212/1 Note payable2000025,00026,00028,00030,00031,00033,00012/1 Interest rate015%15%15%15%15%15%Warranty2027202820292030203120322033Purchase on account1600017,00018,00019,00020,00021,00022,000Note payable50006,0007,0008,0009,00010,00011,000Warranty repair162172182192202222232Salary accural14001,5001,6001,7001,8001,9002,000Vacation6%360006%37,0006%38,0006%39,0006%40,0006%41,0006%42,00012/26 interest120$ 120$ 120$ 120$ 120$ 120$ 120a. Prepare journal entries to record the preceding transactions and events.CashNotes PayableWarranty expenseWarranty LiabilityMerchandiseAccounts PayableCashNote PayableWarranty LiabilityCashSalary ExpenseSalary PayablePayroll ExpenseAccrued Vacation Payableb. Determine accrued interest as of December 31, 20XX, and prepare the necessary adjusting entry or entries.12/1 one month accrual12/26 60 day note-accrue 5 daysTotal Interest Acc.
PART C 1- Petra Corporation paid $500-000 for 80- of the outstanding.pdfreachaakar
PART C
1- Petra Corporation paid $500,000 for 80% of the outstanding voting common stock of Sizable
Corporation on January 2, 2022 when the book value of Sizable's net assets was $460,000. The
fair values of Sizable's identifiable net assets were equal to their book values except as indicated
below.
Book Fair
Value Value
Inventories (sold in 2022) $80,000 $112,000
Buildings-net (15-year life) 200,000 170,000
Note Payable (paid in 2022) 20,000 21,250
Sizable reported net income of $75,000 during 2022; dividends of $35,000 were declared and
paid during the year. (10 Marks)
Required:
1. Prepare a schedule to allocate the fair value/book value differential to the specific identifiable
assets and liabilities.
2. Determine Petra's income from Sizable for 2022.
3. Determine the correct balance in the Investment in Sizable account as of December 31, 2022.
2- On December 31, 2021, Paladium International purchased 70% of the outstanding common
stock of Sennex Chemical. Paladium paid $140,000 for the shares and determined that the fair
value of all recorded Sennex assets and liabilities approximated their book values, with the
exception of a customer list that was not recorded and had a fair value of $10,000, and an
expected remaining useful life of 5 years. At the time of purchase, Sennex had stockholders'
equity consisting of capital stock amounting to $20,000 and retained earnings amounting to
$80,000. Any remaining excess fair value was attributed to goodwill. The separate financial
statements at December 31, 2022 appear in the first two columns of the consolidation
workpapers shown below. (10 Marks)
Required:
Complete the consolidation working papers for Paladium and Sennex for the year 2022.
Paladium
Sennex
Eliminations
Consolidated
Debit
Credit
INCOME STATEMENT Sales
331,900
48,000
Income of Sennex
9,100
Cost of Sales
(148,000)
(25,000)
Other Expenses
(72,000)
( 8,000)
Noncontrolling Interest Share
Net income
121,000
15,000
Retained Earnings 1/1
846,000
80,000
Add:Net income
121,000
15,000
Less: Dividends
(9,000)
(4,000)
Retained Earnings 12/31
958,000
91,000
BALANCE SHEET
Cash
135,000
64,000
Accounts Receivable-net
227,000
160,000
Inventories
316,000
86,000
Land
80,000
40,000
Equipment and Buildings-net
469,000
230,000
Investment in Sennex
146,300
Customer List
Goodwill
TOTAL ASSETS
1,373,300
580,000
LIAB. & EQUITY Accounts payable
305,300
469,000
Capital
Stock
110,000
20,000
Retained Earnings
958,000
91,000
1/1 Noncontrol.
Interest
12/31 Noncontrol. Int.
TOTAL LIAB. & EQUITY
1,373,300
580,000
Eliminations C onsolidated
Paladium S ennex
Debit Credit
INCOME STATEMENT Sales 331,900 48,000
Income of Sennex 9,100
Cost of Sales (148,000) ( 25,000)
Other Expenses (72,000) ( 8,000)
Noncontrolling Interest Share
Net income 121,000 15,000
Retained Earnings 1/1 846,000 80,000
Add:Net income 121,000 15,000
Less: Dividends (9,000) (4,000)
Retained Earnings 12/31 958,000 91,000
BALANCE SHEET
135,000 64,000
Cash
Accounts Receivable-net 227,000 160,000
Invento.
Intermediate Accounting I Final Exam Booklet Replacement.docxmariuse18nolet
Intermediate Accounting I
Final Exam Booklet
Replacement
Part A
20 Point Questions ( 3 questions x 20 points = 60 total points)
Show all work.
1. The following information is provided in the 2011 annual report to shareholders of The
BizStore:
Required: Compute U-Z in the table above.
2. Shown below is the activity for one of the products of Random Creations:
January 1 balance, 80 units @ $50 $4,000
2a. Compute the ending inventory and cost of goods sold assuming Random Creations
uses FIFO.
2b. Compute the ending inventory and cost of goods sold assuming Random Creations
uses LIFO and perpetual inventory system.
2c. Compute the ending inventory and cost of goods sold assuming Random Creations
uses LIFO and a periodic inventory system.
2d. Compute the ending inventory and cost of goods sold assuming Random Creations
uses average cost and a periodic inventory system.
2e. Compute the ending inventory and cost of goods sold assuming Random Creations
uses average cost and a perpetual inventory system.
3. On January 3, 2011, Michelson & Sons acquired a tract of land just outside the city
limits. The land and existing building were purchased for $2.4 million. Michelson paid
$400,000 and signed a noninterest-bearing note requiring the company to pay the
remaining $2,000,000 on December 31, 2012. An interest rate of 7% properly reflects the
time value of money for this type of loan agreement. Transfer taxes, title insurance and
other costs totaling $24,000 were paid at closing.
During February, the old building was demolished at a cost of $120,000, and an
additional $100,000 was paid to clear and grade the land. Construction of a new building
began on March 1 and was completed on October 30. Construction expenditures were as
follows:
Michelson did not borrow specifically for the construction project, but did have the
following debt outstanding throughout 2011:
$6,000,000, 8% long-term note payable
$2,000,000, 5% long-term note payable
In December, the company purchased equipment and office furniture and fixtures for a
lump-sum price of $800,000. The fair values of the equipment and the furniture and
fixtures were $540,000 and $360,000, respectively. In December, Michelson paid
$340,000 for the construction of parking lots and landscaping.
Required:
3a. Determine the initial values of the various assets that Michelson acquired or
constructed during 2011.
3b. How much interest expense will Michelson report in its 2011 income statement?
Part B:
4 Point Questions (10 questions x 4 points = 40 total points)
Show all work.
1. Tri Fecta, a partnership, had revenues of $360,000 in its first year of operations. The
partnership has not collected on $35,000 of its sales, and still owes $40,000 on $150,000
of merchandise they purchased. There was no inventory on hand at the end of the year.
The partnership paid $25,0.
Project 3 Recording Daily and Adjusting Entries, and Preparing and .docxanitramcroberts
Project 3: Recording Daily and Adjusting Entries, and Preparing and Evaluating Financial Statements
[The following information applies to the questions displayed below.]
Introduction
Jones Widget Company (JWC) incorporated at the beginning of 2014. Below is the post closing trial balance as of 12/31/2014.
Account Title
Balance
Cash
9,600
Accounts Receivable
8,300
Allowance for Doubtful Accounts
900
Inventory
12,060
Prepaid Rent
1,700
Equipment
26,000
Accumulated Depreciation
2,500
Accounts Payable
0
Sales Tax payable
550
FICA Taxes Payable
700
Federal Income Tax (FIT) Payable
550
Wages Payable
1,600
Unemployment taxes payable
350
Unearned Revenue
6,400
Interest Payable
300
Notes Payable
15,000
Common Stock
13,800
Add'l PIC
9,710
RE - December 31, 2014
8,900
Treasury Stock
3,600
Additional Information:
•
JWC establishes a policy that it will sell inventory at $160 per unit. Sales taxes are 6%. JWC will use the FIFO method and record COGS on a perpetual basis.
•
Employee wages are $4,100 per month. Employees are paid on the 16th for the first half of the month and on the first of the following month for the second half of each month. The income taxes withheld are $275 each paycheck, and the FICA taxes are $175 per paycheck. The withholding and the employer’s matching contribution are paid monthly on the second day of the month. In addition, unemployment taxes of $55 are accrued with each payroll. The taxes are paid on March 31.
•
The Beginning inventory of $12,060 consists of 180 units.
•
The Prepaid Rent balance is for January 2015.
•
The equipment was purchased on July 1, 2014. It is being depreciated using the straight line method.
•
Unearned Revenue is for 40 units ordered and paid for in advance by two customers in late December. One order will be filled in January, the remainder in early February.
•
The Notes payable represents a $15,000 bank loan received on October 1, 2013 at 8% annual interest.
•
The par value on the common stock is $2.
•
The treasury stock account has 600 shares.
•
Record all transactions to the nearest dollar.
Below are transactions for January 2015
Jan 1
Paid December 31 payroll previously accrued.
Jan 2
A $91,000 6% six year bond is issued. The effective yield is 7%.
6%
7%
Present Value of $1 factors
.7050
.6663
Present Value of an Annuity of $1 factors
4.9173
4.7665
Jan 2
A truck is purchased for $10,500 cash. It is estimated the truck will be used for 50,000 miles and will have no salvage value. (Record the purchase to the account "Vehicles").
Jan 2
Payroll taxes payable (FIT & FICA) recorded in December are remitted to the IRS.
Jan 5
A $900 customer account is written off as uncollectible.
Jan 6
Sales on account of 175 units of inventory occur during January. Include sales tax of 6%.
Jan 10
Sales taxes of $550 which had been collected and recorded in December are paid to the state.
Jan.
The stockholders' equity accounts of Sarasota Corp- on January 1- 2022.pdfbharatlalwani01
The stockholders' equity accounts of Sarasota Corp. 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 5,000 shares of common stock for $30 , 000 . Mar. 20 Purchased 1,000
additional shares of common treasury stock at $9 per share. Oct. 1 Declared a 6\% cash dividend
on preferred stock, payable November 1. Nov. 1 Paid the dividend declared on October 1. Dec. 1
Declared a $0.75 per share cash dividend to common stockholders of record on December 15,
payable December 31 , 2022 . Dec. 31 Paid the dividend declared on December 1. (a) Prepare a
tabular summary that includes the January 1, 2022, balances. Do not include the beginning
balance in Retained Earnings in the tabular summary. (b) Record the 2022 transactions in the
tabular summary. for the particular Asset, Liability or Equity item that was reduced.).
ACCT3303 Project#1 (50 points)
Introduction:
Will’s Widget Company (WWC) incorporated near the end of 2017. Operations began in January of 2018. WWC prepares adjusting entries and financial statements at the end of each month. Balances in the accounts at the end of January are as follows:
Account Title
Dr
Cr
Cash
21,170
Accounts Receivable
12,200
Allowance for Doubtful Accounts
1,750
Inventory (45 units)
3,825
Unearned Revenue (40 units)
5,200
Accounts Payable (Jan Rent)
3,000
Notes Payable
14,500
Contributed Capital
6,700
Retained Earnings – Feb 1, 2012
6,045
Additional Information you need to know about WWC:
•
WWC establishes a policy that it will sell inventory at $165 per unit.
•
In January, WWC received a $5,200 advance for 40 units, as reflected in Unearned Revenue.
•
WWC’s February 1 inventory balance consisted of 45 units at a total cost of $3,825.
•
WWC’s note payable accrues interest at a 12% annual rate.
•
WWC will use the FIFO inventory method and record COGS on a perpetual basis.
Below are transactions for February 2018:
Record Journal Entries for following transactions:
02/01
Included in WWC’s February 1 Accounts Receivable balance is a $1,500 account due from Kit Kat, a WWC customer. Kit Kat is having cash flow problems and cannot pay its balance at this time. WWC arranges with Kit Kat to convert the $1,500 balance to a note, and Kit Kat signs a 6-month note, at 9% annual interest. The principal and all interest will be due and payable to WWC on August 1, 2012.
02/02
WWC paid a $900 insurance premium covering the month of February. The amount paid is recorded directly as an expense.
02/05
An additional 150 units of inventory are purchased on account by WWC for $11,250 – terms 2/15, n30.
02/05
WWC paid Federal Express $450 to have the 150 units of inventory delivered overnight. Delivery occurred on 02/06. (Hint--Recall company uses perpetual inventory system, record transportation fees as part of inventory costs—debit to inventory)
02/10
Sales of 120 units of inventory occurred during the period of 02/07 – 02/10. The sales terms are 2/10, net 30. (Hint --Recall company follows FIFO. What are the COGS of 120 sold units?)
02/15
The 40 units that were paid for in advance and recorded in January are delivered to the customer. (Hint --Recall WWC follows FIFO. What are the COGS of 40 sold units?)
02/15
10 units of the inventory that had been sold on 2/10 are returned to WWC. The units are not damaged and can be resold. Therefore, they are returned to inventory. Assume the units returned are from the 2/05 purchase.
02/16
WWC pays the first 2 weeks wages to the employees. The total paid is $2,500.
02/17
Paid in full the amount owed for the 2/05 purchase of inventory. WWC records purchase discounts as a reduction of inventory costs (credit to inventory).
02/18
Wrote off a customer’s account in the amount of $1,850.
02/19
$6,000 of rent for January and February was paid. Because all of the rent will soon expire, the Feb.
4.(TCO E) During 20X3, Edwards Co. sold inventory to its paren.docxcameroncourtney45
4.
(TCO E) During 20X3, Edwards Co. sold inventory to its parent company, First Corp. First still owned the entire inventory purchased at the end of 20X3. Why must the gross profit on the sale be deferred when consolidated financial statements are prepared at the end of 20X3?
(Points : 15)
6.(TCO C) Assume that on January 1, 20X2, investors form Acme Corp agree to consolidate the operations of ABC, Inc., and DEF Company in a deal valued at $2.0 billion. Acme organizes each former entity as an operating segment. Additionally, Acme two divisions—ABC Hot and ABC Cold—that, along with DEF, are treated as independent reporting units for internal performance evaluation and management reviews. ACME recognizes $215 million as goodwill at the merger date of January 1, 20X3 and allocates this entire amount to its reporting units. That information and each reporting unit's acquisition-date fair values are as follows.
New Corp’s Acquisition-Date Fair Values
Reporting Units Goodwill January 1, 20X3
ABC Hot $ 22,000,000 $750,000,000
ABC Cold 155,000,000 748,000,000
DEF Company 38,000,000 502,000,000
In December, 20X3, Acme Corp performed an analysis for each of its three reporting units to assess potential goodwill impairment. They examined the events that may affect the fair values of its reporting units. The analysis reveals that the fair value of each reporting unit likely exceeds its carrying amount except for ABC Cold. The goodwill impairment test then reveals that ABC Cold’s fair value has fallen to $70 million, well below its current carrying amount. Acme compared the implied fair value of ABC Cold’s goodwill to its carrying amount. Acme needs to determine the implied fair value of goodwill. The fair value of ABC Cold’s net assets as of December 31, 21X3 is shown below.
ABC Cold December 31, 20X3, fair value $70,000,000
Fair values of ABC Cold net assets at December 31, 20X3:
Current assets $ 5,000,000
Property 10,000,000
Equipment 5,000,000
Subscriber list 1,000,000
Patented technology 1,000,000
Current liabilities (4,000,000)
Long-term debt (10,000,000)
Required:
(1) What is the implied fair value of goodwill for ABC Cold?
(2) What is the carry value of the assets of ABC Cold before impairment?
(3) What is the impairment loss of ABC Cold? (Points : 25)
7.
(TCO A) Steven Company owns 40% of the outstanding voting common stock of Nicole Corp. and has the ability to significantly influence the investee's operations. On January 3, 20X1, the balance in the Investment in Nicole Corp. account was $503,000. Amortization associated with this acquisition is $12,000 per year. During 20X1, Nicole earned a net income of $120,000 and paid cash dividends of $40,000. Previously in 20X0, Nicole had sold inventory costing $35,000 to Steven for $50,000. All but 25% of that inventory had been sold to outsiders by Steven during 20X0. Additional sales were made to Steven in 20X1 at a transfer price.
Recording Transactions (Including Adjusting and Closing Entries)- Prep.pdfMax3zSLangdonj
Recording Transactions (Including Adjusting and Closing Entries), Preparing Financial
Statements, and Performing Ratio Analysis
Ben and Kelly Perry began operations of their Roof repair company (Perry Roofing, Inc.) on
January 1, 2020. The annual reporting period ends December 31. The trial balance on January 1,
2021, was as follows:
Debit
Credit
Cash
7,000
Accounts Receivable
5,000
Supplies
9,000
Equipment
Accumulated Depreciation (on equipment)
Intangible assets (long term, not detailed to simplify)
8,000
Accounts Payable
6,000
Notes Payable
Wages payable
Interest Payable
Income Taxes Payable
Unearned revenue
Common Stock (50,000 shares, $0.10 par value)
5,000
Additional Paid-in Capital
10,000
Retained Earnings
8,000
Service revenue
Depreciation expense
Supplier expense
Wage Expense
General and Administrative Expense
Interest Expense
Income Tax Expense
Totals
29,000
29,000
Transactions during 2021 follow:
Borrowed $18,000 cash on July 1, 2021, signing a one-year, 10 percent note payable.
Purchased equipment for $20,000 cash on July 1, 2021.
Sold 10,000 additional shares of capital stock for cash at $1.1 market value per share at the
beginning of the year.
Earned $110,000 in revenues for 2021, including $30,000 on credit and the rest in cash.
Incurred General and Administrative expenses of $16,000 for 2021, including $5,000 on credit
and the rest paid with cash.
Purchased $12,000 of supplies: $4,000 was paid in cash with the rest on account.
Collected accounts receivable, $18,000.
Paid accounts payable, $9,000.
Paid 50,000 cash for wage expense.
Received a $2,000 deposit on work to start January 15, 2022.
Declared and paid a cash dividend, $5,000.
Data for adjusting entries:
Supplies of $5,000 were counted on December 31, 2021.
Depreciation for 2021, $2,500.
Interest accrued on notes payable (to be computed).
Wages earned since the December 24 payroll but not yet paid, $800.
Income tax expense was $9,000, payable in 2022.
Required (all in an Excel file with separate spreadsheets):
Set up T-accounts for the accounts on the trial balance and enter beginning balances.
1) Prepare journal entries for transactions ( a ) through ( k ) and
2) Post them to the T-accounts.
1) Journalize the adjusting entries ( l ) through ( p ) and
2) Post them to the T-accounts.
Prepare a trial balance, with columns of both unadjusted and adjusted.
Prepare:
an income statement (including earnings per share),
statement of stockholders' equity, and
balance sheet.
Debit Credit
Cash 7,000
Accounts Receivable 5,000
Supplies 9,000
Equipment
Accumulated Depreciation (on equipment)
Intangible assets (long term, not detailed to 8,000
simplify)
Accounts Payable 6,000
Notes Payable
Wages payable
Interest Payable
Income Taxes Payable
Unearned revenue
Common Stock (50,000 shares, $0.10 par value) 5,000
Additional Paid-in Capital 10,000
Retained Earnings 8,000
Service revenue
Depreciation expense
Supplier expense
Wage Expense
General and Administrative Expense
Interest Expense
Inc.
Peter es un analista financiero cuyo jefe le asign la tarea.pdfagarshail
Peter es un analista financiero cuyo jefe le asign la tarea de examinar una empresa en la industria
de viajes. Peter compara varias de las razones financieras de la empresa con las de la empresa
lder en la industria.
Qu tipo de anlisis est realizando?
Anlisis de la Indstria
Saliente
evaluacin comparativa
Anlisis fundamental.
Peter has purchased a call option on euros with a strike.pdfagarshail
Peter has purchased a call option on euros () with a strike price of $1.06 and a premium of $0.01.
The current spot price of the euro is $1.04. Just before expiration, the euro's spot price is $1.09.
What is the per unit profit or loss to the writer of this option?
a. $.02 loss
b. $.02 profit
c. $.03 loss
d. $.03 profit.
Personal Ethics in the supply chain that have a social and e.pdfagarshail
Personal Ethics in the supply chain that have a social and environmental impact
Discuss how various roles, or people (individuals) within business and/or supply chain (suppliers)
can influence, be influenced, or find themselves in situations considered to be unethical. (in terms
of social and environmental impact) I.e. behaviours, transactions, deals, promises, etc. associated
with material purchasing and sales
Provide 1 or 2 examples of this (i.e. hypotheticals, or known/real examples are ok).
Personal Trainer Inc Personal Trainer Inc owns and opera.pdfagarshail
Personal Trainer, Inc.
Personal Trainer, Inc. owns and operates fitness centers in a dozen Midwestern cities. The
centers have done well, and the company is planning an international expansion by opening a new
supercenter in the Toronto area. Personal Trainers president, Cassia Umi, hired an IT consultant,
Susan Park, to help develop an information system for the new facility. During the project, Susan
will work closely with Gray Lewis, who will manage the new operation.
Background:
Working as an IT consultant for Personal Trainer, Susan Park used data and process modeling
tools to create a logical model of the proposed information system. Now she wants to build an
object-oriented view of the system using O-O tools and techniques.
Tasks:
1. Identify possible actors and use cases involved in Personal Trainers operations.
2. Create a use case diagram for the system.
3. For any one of the above use cases, create a use case description table.
4. Create an object relationship diagram for the Personal Trainer information system. 5. Create a
class diagram for the above system..
Perpetual Inventory Using LIFO Beginning inventory purchase.pdfagarshail
Perpetual inventory using LIFO Beginning inventory, purchases, and sales data for prepaid cell
phones for December are as follows: Inventory Dec. 13,700 units at $33 a. Assuming that the
perpetual inventory system is used, costing by the LIFO method, determine the cost of goods sold
for each sale and the inventory balance after each sale, presenting the data in the form illustrated
in Exhibit 4. Under LIFO, if units are in inventory at two different costs, enter the units with the
HIGHER unit cost first in the Cost of Goods Sold Unit Cost column and LOWER unit cost first in
the Inventory Unit Cost column.Schedule of Cost of Goods Sold LIFO Method Prepaid Cell
Phones.
Person class has following attributes private String instan.pdfagarshail
Person class has following attributes: private String instance variables: firstName, lastName
private int instance variable: age Methods: getter and setter methods for each instance variable.
try to use this. keyword toString method.No parameters and Returns(does not print! no println in
the method!**)** person info in this format: "firstName | lastName | age" Constructors: No-Args
constructor -sets default values for the Person object name and lastName => "undefined" age => -
1.
Perspectives MampA and COVID19 Charting new horizons Rec.pdfagarshail
Perspectives M&A and COVID-19: Charting new horizons Recovery could rewrite the rules of
M&A As companies embark on the path to recovery, M&A is poised to have an outsized influence
in shaping the next normal. But in the aftermath of COVID-19, it is inevitable that deal making will
materially change to reflect the new priorities of a post-crisis world. Redefining deal-making The
post-COVID world will unleash structural and systemic changes and it is widely expected that
recovery will be highly asymmetric across regions and sectors. Most sectors will reinvent
themselves in order to thrive and many will use M&A to accelerate this transformation. But as
companies prepare for a new world with fundamentally reshaped economies and societies, it is
inevitable the deal making environment will also materially change. Beyond traditional M&A,
companies need to deploy a wide range of inorganic growth strategies such as partnerships with
their peers, co-investments with private equity, investment in disruptive technologies, cross-sector
alliances with specialists, and partnership with governments. A combination of defensive and
offensive M&A strategies should emerge as companies strive to safeguard existing markets,
accelerate recovery, and position themselves to capture unassailable market leadership.
Redefining M&A in terms of these scenarios and choices will bring much needed clarity of purpose
while confronting uncertainties. Defensive M&A The impact of the COVID-19 pandemic has almost
immediately propelled many companies into survival mode. As a result, many companies will turn
to M&A whether by choice or necessity to safeguard their future. M&A to salvage value.
Companies that have been severely impacted by the crisis and are in a financially vulnerable
position, will need to take decisive measures to secure their survival. Some will turn to portfolio
optimization to identify assets that lack strategic fit and could be divested. Others will take radical
actions including distressed asset sales to salvage value from loss-generating divisions. M&A to
safeguard markets to maintain competitive parity. Companies where the impact has been less
severe, will need to build financial resilience by extracting deep synergies from recent deals. Many
will consider alliances or co-investment opportunities to reduce risk and capital outlay in their core
business. Charting new horizons The post-crisis M&A environment will be materially different.
Corporate purpose that intertwines sustainability with commercial success, resilience and building
trust across a wide coalition of stakeholders will be at the cornerstone of deal-making. Well-
planned, bold moves will cement lasting industry leadership and incontrovertible societal gain.
Give a critical account of Mergers and Acquisitions providing your own examples.
must be 50 points for 50 marks.
Pequired information The kolowing information applies ro th.pdfagarshail
Pequired information (The kolowing information applies ro the questons pisplayed beiow) The
Village of Sesside Pines prepared the followng enterprise fund Trial Balance as a December 31,
2020: the ast day of is tiscal year The enterprise fund was established ths year through a teanster
fram the Genetal fund. Required: a. Prepare the closing entries for December 31 . b. Prepare the
Statement of Revenues. Expenses, and Changes in Fund Net Pasiton for the yeat ended
December 31. c. Prepare the Net Position section of the December 3 ibalance sheet. Assume that
the revenue bonds were issued to acquire capital assets and there are no restricted assers.
Perca Rana y Cerdo 1 Por qu estos organismos requieren.pdfagarshail
Perca, Rana y Cerdo.
1. Por qu estos organismos requieren un rgano especializado para aumentar el rea de superficie
para el intercambio de gases? Discuta el volumen del organismo en relacin con el rea de la
superficie en su respuesta.
2. Por qu estas estructuras respiratorias estn asociadas con un gran suministro de sangre?.
Perceptions of gender are affected by all of these attribute.pdfagarshail
Perceptions of gender are affected by all of these attributes except:
psychological.
behavioral.
emotional.
social.
cultural.
psychological.
behavioral.
emotional.
social.
cultural..
Pedro Gonzales un hispano de 37 aos llega en ambulancia d.pdfagarshail
Pedro Gonzales, un hispano de 37 aos, llega en ambulancia desde un supermercado donde se
haba cado. A su llegada al servicio de urgencias (SU), su aliento huele a fruto. Parece confundido
y ansioso, diciendo que me echan el mal de ojo, quieren que me muera, me estn secando el
cuerpo me estn secando estn gritando, estn gritando no, no, estoy no est mal... oh, Dios, no dejes
que me atrapen! Cuando su madre llega al servicio de urgencias, le dice al personal, mediante el
uso de un intrprete, que Pedro es diabtico severo, tiene un diagnstico de esquizofrenia paranoide
y esto sucede cuando no toma sus medicamentos. En grupo o en colaboracin con un compaero,
responde a lo siguiente:
1. En este escenario son posibles varios diagnsticos de enfermera. Dada la informacin
proporcionada, formule al menos dos diagnsticos de enfermera (problemas) e incluya
"relacionado con" y "evidenciado por" segn corresponda.
2. Para cada uno de sus diagnsticos de enfermera, escriba un resultado a largo plazo (el
problema, lo que debera cambiar, etc.). Incluya un marco de tiempo, el cambio deseado y tres
criterios que lo ayudarn a evaluar si el resultado se cumpli, no se cumpli o se cumpli parcialmente.
Captulo 8:
1. En su primer da clnico, se le asigna trabajar con un adulto mayor, la Sra. Schneider, que est
deprimida. Tu primera impresin es: Oh, vaya, se parece a mi grosera ta Elaine. Incluso se viste
como ella. Te acercas a ella con una vaga sensacin de inquietud y le dices: Hola, Sra. Schneider.
Mi nombre es Alisha. Soy estudiante de enfermera y trabajar contigo hoy. Ella le dice que "un
estudiante" nunca podra entender por lo que est pasando.
a. Identificar los problemas de transferencia y contratransferencia en esta situacin. Cul es su
curso de accin ms importante?
b. Qu otra informacin le dar a la Sra. Schneider durante este primer encuentro clnico? Se
especfico.
C. Cules son algunas respuestas tiles que podra darle a la Sra. Schneider con respecto a su
preocupacin acerca de si podra entender por lo que estaba pasando?
Captulo 9:
1. Describa cmo la enfermera usara el tacto y el contacto visual cuando trabaja con pacientes de
tres grupos culturales diferentes.
Captulo 10:
Marque con una X al lado de cada respuesta correcta;
1. Qu pregunta de evaluacin se enfoca en identificar una consecuencia a largo plazo del estrs
crnico en la salud fsica?
a. Tienes algn problema para dormir bien?
b. Cuntas infecciones ha experimentado en los ltimos 6 meses?
C. Cunto ejercicio moderado realiza regularmente?
d. Qu tcnicas de manejo usa regularmente para manejar su estrs?
2. Qu evaluaciones de enfermera estn dirigidas a monitorear la respuesta de lucha o huida de un
paciente? Seleccione todas las que correspondan.
a. Presin arterial
b. Ritmo cardiaco
C. La frecuencia respiratoria
d. Dolor abdominal
mi. Pupilas dilatadas
3. El paciente que le asignan inesperadamente sufre un paro cardaco. Durante esta situacin de
emergencia, su cuerpo producir una gran cantidad de:
a. dixido de carb.
Penny Inc uses process costing All direct materials are ad.pdfagarshail
Penny Inc. uses process costing. All direct materials are added at the beginning of the process.
Information about Julys activities is as follows:
On July 31:
Ending inventories 1,600 units, 40% complete
Using the FIFO method, the number of units started and completed in July was
a.15,000
b.14,250
c.15,740
d.13,400.
Part C Short Essay Questions 13 points Answer in the spa.pdfagarshail
Part C: Short Essay Questions ( 13 points) Answer in the space below the question. No extra
sheets of paper will be provided. Question 1 ( 4 points) In August 2000, conjoined twins, named
Mary and Jodie were born in a hosnital in Manchester England. Their spines were fused, and they
had one heart and one pair of lungs between then. lodie, the stronger one, was providing blood for
her sister. The prognosis was that without interventon, both girls would die within six months. The
only hope was an operation to separate them. This would save Jodie, but Mary would die
immediately. Thus, there were two options: (a) Not intervene and see both babies die, Or (b)
Intervene and save one life, Jodie. If you were Bentham, would you recommend the doctors to
choose (a) or (b)? Why? Explain your answer..
Paula tiene 25 aos es soltera y gana 40000 al ao Paula.pdfagarshail
Paula tiene 25 aos, es soltera y gana $40,000 al ao. Paula no tiene acceso a un plan de jubilacin
patrocinado por el empleador, pero realmente quiere comenzar a ahorrar para la jubilacin. Puede
contribuir $5,000 de dinero antes de impuestos a una cuenta IRA tradicional, o puede contribuir
$4,400 de dinero despus de impuestos a una cuenta Roth IRA. La diferencia de $600 representa
el impuesto que tiene que pagar Paula. Suponga que Paula sigue haciendo esta misma
contribucin anual durante 30 aos y gana el 9 % de su inversin.
1- Use las frmulas del valor del dinero en el tiempo (TVM) para calcular cul ser el valor futuro y
cunto tendr despus de pagar los impuestos en la jubilacin completando la siguiente tabla.
2- Suponiendo que Paula contina ahorrando agresivamente para la jubilacin y acumula suficiente
riqueza para la jubilacin como para estar en la categora impositiva del 22 % durante la jubilacin,
qu opcin es mejor para Paula, una IRA tradicional o una IRA Roth?.
More Related Content
Similar to Part A In late 2020 the Nicklaus Corporation was formed Th.pdf
Project 3 Recording Daily and Adjusting Entries, and Preparing and .docxanitramcroberts
Project 3: Recording Daily and Adjusting Entries, and Preparing and Evaluating Financial Statements
[The following information applies to the questions displayed below.]
Introduction
Jones Widget Company (JWC) incorporated at the beginning of 2014. Below is the post closing trial balance as of 12/31/2014.
Account Title
Balance
Cash
9,600
Accounts Receivable
8,300
Allowance for Doubtful Accounts
900
Inventory
12,060
Prepaid Rent
1,700
Equipment
26,000
Accumulated Depreciation
2,500
Accounts Payable
0
Sales Tax payable
550
FICA Taxes Payable
700
Federal Income Tax (FIT) Payable
550
Wages Payable
1,600
Unemployment taxes payable
350
Unearned Revenue
6,400
Interest Payable
300
Notes Payable
15,000
Common Stock
13,800
Add'l PIC
9,710
RE - December 31, 2014
8,900
Treasury Stock
3,600
Additional Information:
•
JWC establishes a policy that it will sell inventory at $160 per unit. Sales taxes are 6%. JWC will use the FIFO method and record COGS on a perpetual basis.
•
Employee wages are $4,100 per month. Employees are paid on the 16th for the first half of the month and on the first of the following month for the second half of each month. The income taxes withheld are $275 each paycheck, and the FICA taxes are $175 per paycheck. The withholding and the employer’s matching contribution are paid monthly on the second day of the month. In addition, unemployment taxes of $55 are accrued with each payroll. The taxes are paid on March 31.
•
The Beginning inventory of $12,060 consists of 180 units.
•
The Prepaid Rent balance is for January 2015.
•
The equipment was purchased on July 1, 2014. It is being depreciated using the straight line method.
•
Unearned Revenue is for 40 units ordered and paid for in advance by two customers in late December. One order will be filled in January, the remainder in early February.
•
The Notes payable represents a $15,000 bank loan received on October 1, 2013 at 8% annual interest.
•
The par value on the common stock is $2.
•
The treasury stock account has 600 shares.
•
Record all transactions to the nearest dollar.
Below are transactions for January 2015
Jan 1
Paid December 31 payroll previously accrued.
Jan 2
A $91,000 6% six year bond is issued. The effective yield is 7%.
6%
7%
Present Value of $1 factors
.7050
.6663
Present Value of an Annuity of $1 factors
4.9173
4.7665
Jan 2
A truck is purchased for $10,500 cash. It is estimated the truck will be used for 50,000 miles and will have no salvage value. (Record the purchase to the account "Vehicles").
Jan 2
Payroll taxes payable (FIT & FICA) recorded in December are remitted to the IRS.
Jan 5
A $900 customer account is written off as uncollectible.
Jan 6
Sales on account of 175 units of inventory occur during January. Include sales tax of 6%.
Jan 10
Sales taxes of $550 which had been collected and recorded in December are paid to the state.
Jan.
The stockholders' equity accounts of Sarasota Corp- on January 1- 2022.pdfbharatlalwani01
The stockholders' equity accounts of Sarasota Corp. 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 5,000 shares of common stock for $30 , 000 . Mar. 20 Purchased 1,000
additional shares of common treasury stock at $9 per share. Oct. 1 Declared a 6\% cash dividend
on preferred stock, payable November 1. Nov. 1 Paid the dividend declared on October 1. Dec. 1
Declared a $0.75 per share cash dividend to common stockholders of record on December 15,
payable December 31 , 2022 . Dec. 31 Paid the dividend declared on December 1. (a) Prepare a
tabular summary that includes the January 1, 2022, balances. Do not include the beginning
balance in Retained Earnings in the tabular summary. (b) Record the 2022 transactions in the
tabular summary. for the particular Asset, Liability or Equity item that was reduced.).
ACCT3303 Project#1 (50 points)
Introduction:
Will’s Widget Company (WWC) incorporated near the end of 2017. Operations began in January of 2018. WWC prepares adjusting entries and financial statements at the end of each month. Balances in the accounts at the end of January are as follows:
Account Title
Dr
Cr
Cash
21,170
Accounts Receivable
12,200
Allowance for Doubtful Accounts
1,750
Inventory (45 units)
3,825
Unearned Revenue (40 units)
5,200
Accounts Payable (Jan Rent)
3,000
Notes Payable
14,500
Contributed Capital
6,700
Retained Earnings – Feb 1, 2012
6,045
Additional Information you need to know about WWC:
•
WWC establishes a policy that it will sell inventory at $165 per unit.
•
In January, WWC received a $5,200 advance for 40 units, as reflected in Unearned Revenue.
•
WWC’s February 1 inventory balance consisted of 45 units at a total cost of $3,825.
•
WWC’s note payable accrues interest at a 12% annual rate.
•
WWC will use the FIFO inventory method and record COGS on a perpetual basis.
Below are transactions for February 2018:
Record Journal Entries for following transactions:
02/01
Included in WWC’s February 1 Accounts Receivable balance is a $1,500 account due from Kit Kat, a WWC customer. Kit Kat is having cash flow problems and cannot pay its balance at this time. WWC arranges with Kit Kat to convert the $1,500 balance to a note, and Kit Kat signs a 6-month note, at 9% annual interest. The principal and all interest will be due and payable to WWC on August 1, 2012.
02/02
WWC paid a $900 insurance premium covering the month of February. The amount paid is recorded directly as an expense.
02/05
An additional 150 units of inventory are purchased on account by WWC for $11,250 – terms 2/15, n30.
02/05
WWC paid Federal Express $450 to have the 150 units of inventory delivered overnight. Delivery occurred on 02/06. (Hint--Recall company uses perpetual inventory system, record transportation fees as part of inventory costs—debit to inventory)
02/10
Sales of 120 units of inventory occurred during the period of 02/07 – 02/10. The sales terms are 2/10, net 30. (Hint --Recall company follows FIFO. What are the COGS of 120 sold units?)
02/15
The 40 units that were paid for in advance and recorded in January are delivered to the customer. (Hint --Recall WWC follows FIFO. What are the COGS of 40 sold units?)
02/15
10 units of the inventory that had been sold on 2/10 are returned to WWC. The units are not damaged and can be resold. Therefore, they are returned to inventory. Assume the units returned are from the 2/05 purchase.
02/16
WWC pays the first 2 weeks wages to the employees. The total paid is $2,500.
02/17
Paid in full the amount owed for the 2/05 purchase of inventory. WWC records purchase discounts as a reduction of inventory costs (credit to inventory).
02/18
Wrote off a customer’s account in the amount of $1,850.
02/19
$6,000 of rent for January and February was paid. Because all of the rent will soon expire, the Feb.
4.(TCO E) During 20X3, Edwards Co. sold inventory to its paren.docxcameroncourtney45
4.
(TCO E) During 20X3, Edwards Co. sold inventory to its parent company, First Corp. First still owned the entire inventory purchased at the end of 20X3. Why must the gross profit on the sale be deferred when consolidated financial statements are prepared at the end of 20X3?
(Points : 15)
6.(TCO C) Assume that on January 1, 20X2, investors form Acme Corp agree to consolidate the operations of ABC, Inc., and DEF Company in a deal valued at $2.0 billion. Acme organizes each former entity as an operating segment. Additionally, Acme two divisions—ABC Hot and ABC Cold—that, along with DEF, are treated as independent reporting units for internal performance evaluation and management reviews. ACME recognizes $215 million as goodwill at the merger date of January 1, 20X3 and allocates this entire amount to its reporting units. That information and each reporting unit's acquisition-date fair values are as follows.
New Corp’s Acquisition-Date Fair Values
Reporting Units Goodwill January 1, 20X3
ABC Hot $ 22,000,000 $750,000,000
ABC Cold 155,000,000 748,000,000
DEF Company 38,000,000 502,000,000
In December, 20X3, Acme Corp performed an analysis for each of its three reporting units to assess potential goodwill impairment. They examined the events that may affect the fair values of its reporting units. The analysis reveals that the fair value of each reporting unit likely exceeds its carrying amount except for ABC Cold. The goodwill impairment test then reveals that ABC Cold’s fair value has fallen to $70 million, well below its current carrying amount. Acme compared the implied fair value of ABC Cold’s goodwill to its carrying amount. Acme needs to determine the implied fair value of goodwill. The fair value of ABC Cold’s net assets as of December 31, 21X3 is shown below.
ABC Cold December 31, 20X3, fair value $70,000,000
Fair values of ABC Cold net assets at December 31, 20X3:
Current assets $ 5,000,000
Property 10,000,000
Equipment 5,000,000
Subscriber list 1,000,000
Patented technology 1,000,000
Current liabilities (4,000,000)
Long-term debt (10,000,000)
Required:
(1) What is the implied fair value of goodwill for ABC Cold?
(2) What is the carry value of the assets of ABC Cold before impairment?
(3) What is the impairment loss of ABC Cold? (Points : 25)
7.
(TCO A) Steven Company owns 40% of the outstanding voting common stock of Nicole Corp. and has the ability to significantly influence the investee's operations. On January 3, 20X1, the balance in the Investment in Nicole Corp. account was $503,000. Amortization associated with this acquisition is $12,000 per year. During 20X1, Nicole earned a net income of $120,000 and paid cash dividends of $40,000. Previously in 20X0, Nicole had sold inventory costing $35,000 to Steven for $50,000. All but 25% of that inventory had been sold to outsiders by Steven during 20X0. Additional sales were made to Steven in 20X1 at a transfer price.
Recording Transactions (Including Adjusting and Closing Entries)- Prep.pdfMax3zSLangdonj
Recording Transactions (Including Adjusting and Closing Entries), Preparing Financial
Statements, and Performing Ratio Analysis
Ben and Kelly Perry began operations of their Roof repair company (Perry Roofing, Inc.) on
January 1, 2020. The annual reporting period ends December 31. The trial balance on January 1,
2021, was as follows:
Debit
Credit
Cash
7,000
Accounts Receivable
5,000
Supplies
9,000
Equipment
Accumulated Depreciation (on equipment)
Intangible assets (long term, not detailed to simplify)
8,000
Accounts Payable
6,000
Notes Payable
Wages payable
Interest Payable
Income Taxes Payable
Unearned revenue
Common Stock (50,000 shares, $0.10 par value)
5,000
Additional Paid-in Capital
10,000
Retained Earnings
8,000
Service revenue
Depreciation expense
Supplier expense
Wage Expense
General and Administrative Expense
Interest Expense
Income Tax Expense
Totals
29,000
29,000
Transactions during 2021 follow:
Borrowed $18,000 cash on July 1, 2021, signing a one-year, 10 percent note payable.
Purchased equipment for $20,000 cash on July 1, 2021.
Sold 10,000 additional shares of capital stock for cash at $1.1 market value per share at the
beginning of the year.
Earned $110,000 in revenues for 2021, including $30,000 on credit and the rest in cash.
Incurred General and Administrative expenses of $16,000 for 2021, including $5,000 on credit
and the rest paid with cash.
Purchased $12,000 of supplies: $4,000 was paid in cash with the rest on account.
Collected accounts receivable, $18,000.
Paid accounts payable, $9,000.
Paid 50,000 cash for wage expense.
Received a $2,000 deposit on work to start January 15, 2022.
Declared and paid a cash dividend, $5,000.
Data for adjusting entries:
Supplies of $5,000 were counted on December 31, 2021.
Depreciation for 2021, $2,500.
Interest accrued on notes payable (to be computed).
Wages earned since the December 24 payroll but not yet paid, $800.
Income tax expense was $9,000, payable in 2022.
Required (all in an Excel file with separate spreadsheets):
Set up T-accounts for the accounts on the trial balance and enter beginning balances.
1) Prepare journal entries for transactions ( a ) through ( k ) and
2) Post them to the T-accounts.
1) Journalize the adjusting entries ( l ) through ( p ) and
2) Post them to the T-accounts.
Prepare a trial balance, with columns of both unadjusted and adjusted.
Prepare:
an income statement (including earnings per share),
statement of stockholders' equity, and
balance sheet.
Debit Credit
Cash 7,000
Accounts Receivable 5,000
Supplies 9,000
Equipment
Accumulated Depreciation (on equipment)
Intangible assets (long term, not detailed to 8,000
simplify)
Accounts Payable 6,000
Notes Payable
Wages payable
Interest Payable
Income Taxes Payable
Unearned revenue
Common Stock (50,000 shares, $0.10 par value) 5,000
Additional Paid-in Capital 10,000
Retained Earnings 8,000
Service revenue
Depreciation expense
Supplier expense
Wage Expense
General and Administrative Expense
Interest Expense
Inc.
Similar to Part A In late 2020 the Nicklaus Corporation was formed Th.pdf (6)
Peter es un analista financiero cuyo jefe le asign la tarea.pdfagarshail
Peter es un analista financiero cuyo jefe le asign la tarea de examinar una empresa en la industria
de viajes. Peter compara varias de las razones financieras de la empresa con las de la empresa
lder en la industria.
Qu tipo de anlisis est realizando?
Anlisis de la Indstria
Saliente
evaluacin comparativa
Anlisis fundamental.
Peter has purchased a call option on euros with a strike.pdfagarshail
Peter has purchased a call option on euros () with a strike price of $1.06 and a premium of $0.01.
The current spot price of the euro is $1.04. Just before expiration, the euro's spot price is $1.09.
What is the per unit profit or loss to the writer of this option?
a. $.02 loss
b. $.02 profit
c. $.03 loss
d. $.03 profit.
Personal Ethics in the supply chain that have a social and e.pdfagarshail
Personal Ethics in the supply chain that have a social and environmental impact
Discuss how various roles, or people (individuals) within business and/or supply chain (suppliers)
can influence, be influenced, or find themselves in situations considered to be unethical. (in terms
of social and environmental impact) I.e. behaviours, transactions, deals, promises, etc. associated
with material purchasing and sales
Provide 1 or 2 examples of this (i.e. hypotheticals, or known/real examples are ok).
Personal Trainer Inc Personal Trainer Inc owns and opera.pdfagarshail
Personal Trainer, Inc.
Personal Trainer, Inc. owns and operates fitness centers in a dozen Midwestern cities. The
centers have done well, and the company is planning an international expansion by opening a new
supercenter in the Toronto area. Personal Trainers president, Cassia Umi, hired an IT consultant,
Susan Park, to help develop an information system for the new facility. During the project, Susan
will work closely with Gray Lewis, who will manage the new operation.
Background:
Working as an IT consultant for Personal Trainer, Susan Park used data and process modeling
tools to create a logical model of the proposed information system. Now she wants to build an
object-oriented view of the system using O-O tools and techniques.
Tasks:
1. Identify possible actors and use cases involved in Personal Trainers operations.
2. Create a use case diagram for the system.
3. For any one of the above use cases, create a use case description table.
4. Create an object relationship diagram for the Personal Trainer information system. 5. Create a
class diagram for the above system..
Perpetual Inventory Using LIFO Beginning inventory purchase.pdfagarshail
Perpetual inventory using LIFO Beginning inventory, purchases, and sales data for prepaid cell
phones for December are as follows: Inventory Dec. 13,700 units at $33 a. Assuming that the
perpetual inventory system is used, costing by the LIFO method, determine the cost of goods sold
for each sale and the inventory balance after each sale, presenting the data in the form illustrated
in Exhibit 4. Under LIFO, if units are in inventory at two different costs, enter the units with the
HIGHER unit cost first in the Cost of Goods Sold Unit Cost column and LOWER unit cost first in
the Inventory Unit Cost column.Schedule of Cost of Goods Sold LIFO Method Prepaid Cell
Phones.
Person class has following attributes private String instan.pdfagarshail
Person class has following attributes: private String instance variables: firstName, lastName
private int instance variable: age Methods: getter and setter methods for each instance variable.
try to use this. keyword toString method.No parameters and Returns(does not print! no println in
the method!**)** person info in this format: "firstName | lastName | age" Constructors: No-Args
constructor -sets default values for the Person object name and lastName => "undefined" age => -
1.
Perspectives MampA and COVID19 Charting new horizons Rec.pdfagarshail
Perspectives M&A and COVID-19: Charting new horizons Recovery could rewrite the rules of
M&A As companies embark on the path to recovery, M&A is poised to have an outsized influence
in shaping the next normal. But in the aftermath of COVID-19, it is inevitable that deal making will
materially change to reflect the new priorities of a post-crisis world. Redefining deal-making The
post-COVID world will unleash structural and systemic changes and it is widely expected that
recovery will be highly asymmetric across regions and sectors. Most sectors will reinvent
themselves in order to thrive and many will use M&A to accelerate this transformation. But as
companies prepare for a new world with fundamentally reshaped economies and societies, it is
inevitable the deal making environment will also materially change. Beyond traditional M&A,
companies need to deploy a wide range of inorganic growth strategies such as partnerships with
their peers, co-investments with private equity, investment in disruptive technologies, cross-sector
alliances with specialists, and partnership with governments. A combination of defensive and
offensive M&A strategies should emerge as companies strive to safeguard existing markets,
accelerate recovery, and position themselves to capture unassailable market leadership.
Redefining M&A in terms of these scenarios and choices will bring much needed clarity of purpose
while confronting uncertainties. Defensive M&A The impact of the COVID-19 pandemic has almost
immediately propelled many companies into survival mode. As a result, many companies will turn
to M&A whether by choice or necessity to safeguard their future. M&A to salvage value.
Companies that have been severely impacted by the crisis and are in a financially vulnerable
position, will need to take decisive measures to secure their survival. Some will turn to portfolio
optimization to identify assets that lack strategic fit and could be divested. Others will take radical
actions including distressed asset sales to salvage value from loss-generating divisions. M&A to
safeguard markets to maintain competitive parity. Companies where the impact has been less
severe, will need to build financial resilience by extracting deep synergies from recent deals. Many
will consider alliances or co-investment opportunities to reduce risk and capital outlay in their core
business. Charting new horizons The post-crisis M&A environment will be materially different.
Corporate purpose that intertwines sustainability with commercial success, resilience and building
trust across a wide coalition of stakeholders will be at the cornerstone of deal-making. Well-
planned, bold moves will cement lasting industry leadership and incontrovertible societal gain.
Give a critical account of Mergers and Acquisitions providing your own examples.
must be 50 points for 50 marks.
Pequired information The kolowing information applies ro th.pdfagarshail
Pequired information (The kolowing information applies ro the questons pisplayed beiow) The
Village of Sesside Pines prepared the followng enterprise fund Trial Balance as a December 31,
2020: the ast day of is tiscal year The enterprise fund was established ths year through a teanster
fram the Genetal fund. Required: a. Prepare the closing entries for December 31 . b. Prepare the
Statement of Revenues. Expenses, and Changes in Fund Net Pasiton for the yeat ended
December 31. c. Prepare the Net Position section of the December 3 ibalance sheet. Assume that
the revenue bonds were issued to acquire capital assets and there are no restricted assers.
Perca Rana y Cerdo 1 Por qu estos organismos requieren.pdfagarshail
Perca, Rana y Cerdo.
1. Por qu estos organismos requieren un rgano especializado para aumentar el rea de superficie
para el intercambio de gases? Discuta el volumen del organismo en relacin con el rea de la
superficie en su respuesta.
2. Por qu estas estructuras respiratorias estn asociadas con un gran suministro de sangre?.
Perceptions of gender are affected by all of these attribute.pdfagarshail
Perceptions of gender are affected by all of these attributes except:
psychological.
behavioral.
emotional.
social.
cultural.
psychological.
behavioral.
emotional.
social.
cultural..
Pedro Gonzales un hispano de 37 aos llega en ambulancia d.pdfagarshail
Pedro Gonzales, un hispano de 37 aos, llega en ambulancia desde un supermercado donde se
haba cado. A su llegada al servicio de urgencias (SU), su aliento huele a fruto. Parece confundido
y ansioso, diciendo que me echan el mal de ojo, quieren que me muera, me estn secando el
cuerpo me estn secando estn gritando, estn gritando no, no, estoy no est mal... oh, Dios, no dejes
que me atrapen! Cuando su madre llega al servicio de urgencias, le dice al personal, mediante el
uso de un intrprete, que Pedro es diabtico severo, tiene un diagnstico de esquizofrenia paranoide
y esto sucede cuando no toma sus medicamentos. En grupo o en colaboracin con un compaero,
responde a lo siguiente:
1. En este escenario son posibles varios diagnsticos de enfermera. Dada la informacin
proporcionada, formule al menos dos diagnsticos de enfermera (problemas) e incluya
"relacionado con" y "evidenciado por" segn corresponda.
2. Para cada uno de sus diagnsticos de enfermera, escriba un resultado a largo plazo (el
problema, lo que debera cambiar, etc.). Incluya un marco de tiempo, el cambio deseado y tres
criterios que lo ayudarn a evaluar si el resultado se cumpli, no se cumpli o se cumpli parcialmente.
Captulo 8:
1. En su primer da clnico, se le asigna trabajar con un adulto mayor, la Sra. Schneider, que est
deprimida. Tu primera impresin es: Oh, vaya, se parece a mi grosera ta Elaine. Incluso se viste
como ella. Te acercas a ella con una vaga sensacin de inquietud y le dices: Hola, Sra. Schneider.
Mi nombre es Alisha. Soy estudiante de enfermera y trabajar contigo hoy. Ella le dice que "un
estudiante" nunca podra entender por lo que est pasando.
a. Identificar los problemas de transferencia y contratransferencia en esta situacin. Cul es su
curso de accin ms importante?
b. Qu otra informacin le dar a la Sra. Schneider durante este primer encuentro clnico? Se
especfico.
C. Cules son algunas respuestas tiles que podra darle a la Sra. Schneider con respecto a su
preocupacin acerca de si podra entender por lo que estaba pasando?
Captulo 9:
1. Describa cmo la enfermera usara el tacto y el contacto visual cuando trabaja con pacientes de
tres grupos culturales diferentes.
Captulo 10:
Marque con una X al lado de cada respuesta correcta;
1. Qu pregunta de evaluacin se enfoca en identificar una consecuencia a largo plazo del estrs
crnico en la salud fsica?
a. Tienes algn problema para dormir bien?
b. Cuntas infecciones ha experimentado en los ltimos 6 meses?
C. Cunto ejercicio moderado realiza regularmente?
d. Qu tcnicas de manejo usa regularmente para manejar su estrs?
2. Qu evaluaciones de enfermera estn dirigidas a monitorear la respuesta de lucha o huida de un
paciente? Seleccione todas las que correspondan.
a. Presin arterial
b. Ritmo cardiaco
C. La frecuencia respiratoria
d. Dolor abdominal
mi. Pupilas dilatadas
3. El paciente que le asignan inesperadamente sufre un paro cardaco. Durante esta situacin de
emergencia, su cuerpo producir una gran cantidad de:
a. dixido de carb.
Penny Inc uses process costing All direct materials are ad.pdfagarshail
Penny Inc. uses process costing. All direct materials are added at the beginning of the process.
Information about Julys activities is as follows:
On July 31:
Ending inventories 1,600 units, 40% complete
Using the FIFO method, the number of units started and completed in July was
a.15,000
b.14,250
c.15,740
d.13,400.
Part C Short Essay Questions 13 points Answer in the spa.pdfagarshail
Part C: Short Essay Questions ( 13 points) Answer in the space below the question. No extra
sheets of paper will be provided. Question 1 ( 4 points) In August 2000, conjoined twins, named
Mary and Jodie were born in a hosnital in Manchester England. Their spines were fused, and they
had one heart and one pair of lungs between then. lodie, the stronger one, was providing blood for
her sister. The prognosis was that without interventon, both girls would die within six months. The
only hope was an operation to separate them. This would save Jodie, but Mary would die
immediately. Thus, there were two options: (a) Not intervene and see both babies die, Or (b)
Intervene and save one life, Jodie. If you were Bentham, would you recommend the doctors to
choose (a) or (b)? Why? Explain your answer..
Paula tiene 25 aos es soltera y gana 40000 al ao Paula.pdfagarshail
Paula tiene 25 aos, es soltera y gana $40,000 al ao. Paula no tiene acceso a un plan de jubilacin
patrocinado por el empleador, pero realmente quiere comenzar a ahorrar para la jubilacin. Puede
contribuir $5,000 de dinero antes de impuestos a una cuenta IRA tradicional, o puede contribuir
$4,400 de dinero despus de impuestos a una cuenta Roth IRA. La diferencia de $600 representa
el impuesto que tiene que pagar Paula. Suponga que Paula sigue haciendo esta misma
contribucin anual durante 30 aos y gana el 9 % de su inversin.
1- Use las frmulas del valor del dinero en el tiempo (TVM) para calcular cul ser el valor futuro y
cunto tendr despus de pagar los impuestos en la jubilacin completando la siguiente tabla.
2- Suponiendo que Paula contina ahorrando agresivamente para la jubilacin y acumula suficiente
riqueza para la jubilacin como para estar en la categora impositiva del 22 % durante la jubilacin,
qu opcin es mejor para Paula, una IRA tradicional o una IRA Roth?.
Paydirt Limestone Incorporated was organized several years .pdfagarshail
Paydirt Limestone, Incorporated was organized several years ago and was authorized to issue 3,
000,000 shares of $40 par value 9% preferre stock. It is also authorized to issue 3,750,000 shares
of $2 par value common stock. In its fifth year, the corporation has the following transactions: Part
AMar. 1 Purchased 2,000 shares of its own common stock at $15 per share Part B Apr. 10
Reissued 1,000 shares of its common stock held in the treasury for $18 per share.Part D
begin{tabular}{|l|r|r|r|r|} hline Date & multicolumn{2}{|c|}{ Account Title } & Debit & hline Mar. 1 & &
& hline From Part A & & & hline & To record the purchase of Treasury Stock hline Apr. 10 & & & &
hline From Part B & & & & hline & & & & hline & To record the part sale of Treasury Stock & &
hline Jun. 12 & & & & hline From Part C & & & hline & & & hline end{tabular}.
Pauline won a Financial Analyst competition and had the foll.pdfagarshail
Pauline won a Financial Analyst competition and had the following to choose from i. Option 1: $20,
000 to be paid at the end of each month for 4 years with an interest rate of 6% compounded
monthly plus a lump sum of $100,000OR ii. Option 2: $40,000 to be paid at the start of each
quarter four 4 years with an interest rate of 8% compounded quarterly plus a lump sum of $150,
000OR iii. Option 3: $200,000 to be paid annually for 4 years with an interest rate of 8% which
increases by 3% plus a lump sum $120,000. What is the value of the three options presented?
Which option should Pauline select and why? 10 Marks.
Paula is a shareholder and director of Aloha Pty Ltd a pr.pdfagarshail
Paula is a shareholder and director of Aloha (Pty) Ltd, a private company that designs and
manufactures leisurewear. She signed surety for a business loan and the company therefore took
out a whole life policy on her life to ensure the loan can be repaid should Paula pass away. What
are the tax implications on the premiums and proceeds of the policy?.
Paula and Prudence both have a BMI Body Mass Index of 24 .pdfagarshail
Paula and Prudence both have a BMI (Body Mass Index) of 24; a healthy weight. Which of the
following indicators of body composition puts Paula at a higher risk of cardiovascular disease than
Prudence?
Paula has a higher waist-to-hip ratio
Paula carries more fat in her arms than Prudence does
Paula carries most of her fat in subcutaneous spaces
Paula has more muscle mass than Prudence.
Acetabularia Information For Class 9 .docxvaibhavrinwa19
Acetabularia acetabulum is a single-celled green alga that in its vegetative state is morphologically differentiated into a basal rhizoid and an axially elongated stalk, which bears whorls of branching hairs. The single diploid nucleus resides in the rhizoid.
Read| The latest issue of The Challenger is here! We are thrilled to announce that our school paper has qualified for the NATIONAL SCHOOLS PRESS CONFERENCE (NSPC) 2024. Thank you for your unwavering support and trust. Dive into the stories that made us stand out!
Francesca Gottschalk - How can education support child empowerment.pptxEduSkills OECD
Francesca Gottschalk from the OECD’s Centre for Educational Research and Innovation presents at the Ask an Expert Webinar: How can education support child empowerment?
Unit 8 - Information and Communication Technology (Paper I).pdfThiyagu K
This slides describes the basic concepts of ICT, basics of Email, Emerging Technology and Digital Initiatives in Education. This presentations aligns with the UGC Paper I syllabus.
Embracing GenAI - A Strategic ImperativePeter Windle
Artificial Intelligence (AI) technologies such as Generative AI, Image Generators and Large Language Models have had a dramatic impact on teaching, learning and assessment over the past 18 months. The most immediate threat AI posed was to Academic Integrity with Higher Education Institutes (HEIs) focusing their efforts on combating the use of GenAI in assessment. Guidelines were developed for staff and students, policies put in place too. Innovative educators have forged paths in the use of Generative AI for teaching, learning and assessments leading to pockets of transformation springing up across HEIs, often with little or no top-down guidance, support or direction.
This Gasta posits a strategic approach to integrating AI into HEIs to prepare staff, students and the curriculum for an evolving world and workplace. We will highlight the advantages of working with these technologies beyond the realm of teaching, learning and assessment by considering prompt engineering skills, industry impact, curriculum changes, and the need for staff upskilling. In contrast, not engaging strategically with Generative AI poses risks, including falling behind peers, missed opportunities and failing to ensure our graduates remain employable. The rapid evolution of AI technologies necessitates a proactive and strategic approach if we are to remain relevant.
June 3, 2024 Anti-Semitism Letter Sent to MIT President Kornbluth and MIT Cor...Levi Shapiro
Letter from the Congress of the United States regarding Anti-Semitism sent June 3rd to MIT President Sally Kornbluth, MIT Corp Chair, Mark Gorenberg
Dear Dr. Kornbluth and Mr. Gorenberg,
The US House of Representatives is deeply concerned by ongoing and pervasive acts of antisemitic
harassment and intimidation at the Massachusetts Institute of Technology (MIT). Failing to act decisively to ensure a safe learning environment for all students would be a grave dereliction of your responsibilities as President of MIT and Chair of the MIT Corporation.
This Congress will not stand idly by and allow an environment hostile to Jewish students to persist. The House believes that your institution is in violation of Title VI of the Civil Rights Act, and the inability or
unwillingness to rectify this violation through action requires accountability.
Postsecondary education is a unique opportunity for students to learn and have their ideas and beliefs challenged. However, universities receiving hundreds of millions of federal funds annually have denied
students that opportunity and have been hijacked to become venues for the promotion of terrorism, antisemitic harassment and intimidation, unlawful encampments, and in some cases, assaults and riots.
The House of Representatives will not countenance the use of federal funds to indoctrinate students into hateful, antisemitic, anti-American supporters of terrorism. Investigations into campus antisemitism by the Committee on Education and the Workforce and the Committee on Ways and Means have been expanded into a Congress-wide probe across all relevant jurisdictions to address this national crisis. The undersigned Committees will conduct oversight into the use of federal funds at MIT and its learning environment under authorities granted to each Committee.
• The Committee on Education and the Workforce has been investigating your institution since December 7, 2023. The Committee has broad jurisdiction over postsecondary education, including its compliance with Title VI of the Civil Rights Act, campus safety concerns over disruptions to the learning environment, and the awarding of federal student aid under the Higher Education Act.
• The Committee on Oversight and Accountability is investigating the sources of funding and other support flowing to groups espousing pro-Hamas propaganda and engaged in antisemitic harassment and intimidation of students. The Committee on Oversight and Accountability is the principal oversight committee of the US House of Representatives and has broad authority to investigate “any matter” at “any time” under House Rule X.
• The Committee on Ways and Means has been investigating several universities since November 15, 2023, when the Committee held a hearing entitled From Ivory Towers to Dark Corners: Investigating the Nexus Between Antisemitism, Tax-Exempt Universities, and Terror Financing. The Committee followed the hearing with letters to those institutions on January 10, 202
2024.06.01 Introducing a competency framework for languag learning materials ...Sandy Millin
http://sandymillin.wordpress.com/iateflwebinar2024
Published classroom materials form the basis of syllabuses, drive teacher professional development, and have a potentially huge influence on learners, teachers and education systems. All teachers also create their own materials, whether a few sentences on a blackboard, a highly-structured fully-realised online course, or anything in between. Despite this, the knowledge and skills needed to create effective language learning materials are rarely part of teacher training, and are mostly learnt by trial and error.
Knowledge and skills frameworks, generally called competency frameworks, for ELT teachers, trainers and managers have existed for a few years now. However, until I created one for my MA dissertation, there wasn’t one drawing together what we need to know and do to be able to effectively produce language learning materials.
This webinar will introduce you to my framework, highlighting the key competencies I identified from my research. It will also show how anybody involved in language teaching (any language, not just English!), teacher training, managing schools or developing language learning materials can benefit from using the framework.
Operation “Blue Star” is the only event in the history of Independent India where the state went into war with its own people. Even after about 40 years it is not clear if it was culmination of states anger over people of the region, a political game of power or start of dictatorial chapter in the democratic setup.
The people of Punjab felt alienated from main stream due to denial of their just demands during a long democratic struggle since independence. As it happen all over the word, it led to militant struggle with great loss of lives of military, police and civilian personnel. Killing of Indira Gandhi and massacre of innocent Sikhs in Delhi and other India cities was also associated with this movement.
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An EFL lesson about the current events in Palestine. It is intended to be for intermediate students who wish to increase their listening skills through a short lesson in power point.
Honest Reviews of Tim Han LMA Course Program.pptxtimhan337
Personal development courses are widely available today, with each one promising life-changing outcomes. Tim Han’s Life Mastery Achievers (LMA) Course has drawn a lot of interest. In addition to offering my frank assessment of Success Insider’s LMA Course, this piece examines the course’s effects via a variety of Tim Han LMA course reviews and Success Insider comments.
Welcome to TechSoup New Member Orientation and Q&A (May 2024).pdfTechSoup
In this webinar you will learn how your organization can access TechSoup's wide variety of product discount and donation programs. From hardware to software, we'll give you a tour of the tools available to help your nonprofit with productivity, collaboration, financial management, donor tracking, security, and more.
Welcome to TechSoup New Member Orientation and Q&A (May 2024).pdf
Part A In late 2020 the Nicklaus Corporation was formed Th.pdf
1. Part A In late 2020, the Nicklaus Corporation was formed. The corporate charter authorizes the
issuance of 6,000,000 shares of common. stock carrying a $1 par value, and 2,000,000 shares of
$5 par value, noncumulative, nonparticipating preferred stock. On January 2 , 2021,4,000,000
shares of the common stock are issued in exchange for cash at an average price of $12 per share.
Also on January 2. ail 2,000,000 shares of preferred stock are issued at $25 per share. Required:
1. Prepare journal entries to record these transactions. 2. Prepare the shareholders' equity section
of the Nicklaus bolance sheet as of March 31, 2021. (Assume net income for the first. quarter
2021 was $1,650,000. Part B During 2021, the Nickdaus Corporation partiopated in three treasury
stock transactions: a. On June 30,2021 b. On July 31, 2021, 15, 0ution reacquires 230,000 shares
for the treasury at a price of $14 per share. c. On September 30,2021,15,000 treasury shares are
reissued ot $12 per share. Required: 1. Prepare journal entries to record these transactions. 2.
Prepare the Nicklaus Corporation shareholders' equity section as it would appear in a balance
sheet prepared at September 30. 2021. (Assume net income for the second and third quarter was
$3,150,000 ) Part C On October 1, 2021, Nicklaus Corporation receives permission to replace its
$1 par value common stock (6,000,000 shares authorized, 4,000,000 shares issued, and 3,800,
000 shares outstanding) with a new common stock issue having a $0.50 par value. Since the new
par value is one-haif the amount of the old, this represents a 2.for-1 stock split. That is, the
shareholders will receive two shares of the $0.50 par stock in exchange for each share of the $1
par stock they own. The $1 por stock will be collected and destroyed by the issuing corporation.
On November 1, 2021, the Nicklaus Corporation declares a $0.16 per share cash dividend on
common stock and a $0.33 per share cash dividend on preferred stock. Payment is scheduled for
December 1, 2021, to shareholders of record on November 15, 2021. On December 2, 2021, the
Nicklaus Corporation declares a ts stock dividend payable on December 28, 2021, to sharehoiders
of record on December 14. At the date of deciaration, the common stock was seling in the open
market at $12 per share. The dividend will resuit in 76,000(0.017,600,000) additional shares being
issued to shareholders. Required: 1. Prepare journat entries to record the deciaration and
payment of these stock and cash dividends. 2. Prepare the December 31, 2021, shareholders'
equity section of the balance sheet for the Nicklaus Corporation. (Assume net income for the
fourth quarter was $2,650,000j 3. Prepare a statement of shareholders' equity for Nicilaus
Corporation for 2021.On December 2, 2021, the Nicklaus Corporation declares a 1% stock
dividend payable on December 28, 2021, to shareholders of record on December 14. At the date
of declaration, the common stock was selling in the open market at $12 per share. The dividend
will result in 76,000(0.017,600,000) additional shares being issued to shareholders. Required: 1.
Prepare journal entries to record the declaration and payment of these stock and cash dividends.
2. Prepare the December 31, 2021, shareholders' equity section of the balance sheet for the
Nicklaus Corporation. (Assume net income for the fourth quarter was $2,650.000.) 3. Prepare a
statement of shareholders' equity for Nicklous Corporation for 2021. Answer is not complete.
Complete this question by entering your answers in the tabs below. Prepare journol entries to
record these transactions. (If no entry is required for a particular transaction, solect "No journal
entry required in the first account field.)On November 1, 2021, the Nicklaus Corporation deciares a
$0.16 per share cash dividend on common stock and a $0.33 per share cash dividend on
2. preferred stock. Payment is scheduled for December 1, 2021, to shareholders of record on
November 15 , 2021. On December 2, 2021, the Nicklaus Corporation declares a 1% stock
dividend payable on December 28, 2021, to shareholders of record on December 14. At the date
of declaration, the common stock was selling in the open market at $12 per share. The dividend
will result in 76,000(0,017,600,000) additional shares being issued to shareholders. Required: 1.
Prepare journal entries to record the declaration and payment of these stock and cash dividends.
2. Prepare the Docember 31,2021 , shareholders' equity section of the balance sheet for the
Nicklaus Corporation. (Assume net income for the fourth quarter was $2,650,000j 3. Prepare a
statement of shareholders' equity for Nicklous Corporation for 2021. 8. Answar is not complete.
Complete this question by ent.. _ jour answers in the tabs below. Prepare the shareholders"
Required 2 Part A. Nicdaus balance sheet as of March 31,2021 . (Assume net income for the first
Quarter 2021 was $1,650,0005 )Required: 1. Prepare journal entries to record the declaration and
payment of these stock and cash dividends 2. Prepare the December 31,2021, shareholders'
equity section of the balance sheet for the Nicklaus Corporation. (Assume net income for the
fourth quarter was $2,650.000. 3. Prepare a statement of shareholders' equity for Nicklous
Corporation for 2021 Complete this question by entering your answers in the tabs below. Woare
foumal entries to record these Required 1 Part B B entry is required for a transactionvevent, select
"No joumal entry recuired" in Journal entry worksheet Record acquisition of treasury stock. Proth i
tnter debrs lefare creditaOn November 1, 2021, the Nicklaus Corporation declares a $0.16 per
share cash dividend on common stock and a $0.33 per share cash dividend on preferred stock.
Payment is scheduled for December 1, 2021, to shareholders of record on November 15,2021 On
December 2, 2021, the Nicklaus Corporation declares a 1% stock dividend payable on December
28, 2021, to shareholders of record on December 14. At the date of declaration, the common stock
was selling in the open market ot $12 per share. The dividend will result in 76,000(0.017,600,000)
additional shares being issued to shareholders. Required: 1. Prepare journal entries to record the
declaration and payment of these stock and cash dividends. 2. Prepare the December 31, 2021,
shareholders' equity section of the balance sheet for the Nicklaus Corporation. (Assume net
income for the fourth quarter was $2,650,000. 3. Prepare a statement of shareholders' equity for
Nicklaus Corporation for 2021. Complete this question by entering yod answers in the tabs below.
Prepai. ivicklaus Corporation shareholders' equity section as it would appear in a balance sheet
prepared at september 30, 2021. (Assume net income for the secand and third quarter was $3,150
,000.)1. Prepare journal entries to record the declaration and payment of these stock and cash
dividends. 2. Prepare the December 31, 2021, shareholders' equity section of the balance sheet
for the Nicklaus Corporation. for the fourth quarter was $2,650,000.) 3. Prepare a statement of
shareholders' equity for Nicklaus Corporation for 2021. Complete this question by entering your
answers in the tabs below. Prepare journal entries to record the declaration and paym Required 1
Part C hd cash dividends. (If no entry is required transaction/event, select "No journal entry
required" in the Journal entry worksheet 456 Record the entry for the 2 -for-1 stock split. Note:
Enter debits before credits.1. Prepare journal entries to record the declaration and payment of
these stock and cash dividends. 2. Prepare the December 31,2021 , shareholders' equity section
of the balance sheet for the Nicklaus Corporation. (Assume net incor for the fourth quarter was $2,
650,000.) 3. Prepare a statement of shareholders' equity for Nicklaus Corporation for 2021 .
3. Complete this question by entering your answers in the tabs below. Prepare foumal entries to
record the declaration and payment of these stock and cash dividends. (If no entry is required for a
transaction/event, select "No joumal entry required" in the first account field.) Journal entry
worksheet 56 Record declaration of cash dividend for common shares and preferred shares. Note:
Enter debles bafore credits.1. Prepare journal entries to record the declaration and payment of
these stock and cash dividends. 2. Prepare the December 31,2021 , shareholders' equity section
of the balance sheet for the Nicklaus Corporation. (Assume net income for the fourth quarter was
$2,650,000. 3. Prepare a statement of shareholders' equity for Nicklaus Corporation for 2021.
Complete this question by entering your answers in the tabs below. Prepare journal entries to
record the declaration and payment of these stock and cash dividends. (If no entry is required for a
transaction/event, select "No journal entry required" in the first account field.). Journal entry
worksheet1. Prepare journal entries to record the declaration and payment of these stock and
cash dividends. 2. Prepare the December 31, 2021, shareholders' equity section of the balance
sheet for the Nicklaus Corporation. (Assume net income or the fourth quarter was $2,650,000.) 3.
Prepare a statement of shareholders' equity for Nicklaus Corporation for 2021. Complete this
question by entering your answers in the tabs below. Prepare journal entries to record the
declaration and payment of these stock and cash dividends. (If no entry is required for a
transaction/event, select "No journal entry required" in the first account field.) Journal entry
worksheet Record payment of cash dividend for common shares and preferred shares. Note:
Enter debits before credits.1. Prepare journal entries to record the declaration and payment of
these stock and cash dividends. 2. Prepare the December 31,2021 , shareholders' equity section
of the balance sheet for the Nicklaus Corporation. (Assume for the fourth quarter was $2,650,000
.) 3. Prepare a statement of shareholders' equity for Nicklaus Corporation for 2021. Complete this
question by entering your answers in the tabs below. Prepare journal entries to record the
declaration and payment of these stock and cash dividends. (If no entry is required for a
transaction/event, select "No journal entry required" in the first account field.) Journal entry
worksheet 6 Record declaration of common stock dividend. Note Enter debits before credits.1.
Prepare journal entries to record the declaration and payment of these stock and cash dividends.
2. Prepare the December 31, 2021, shareholders' equity section of the balance sheet for the
Nicklaus Corporation. (Assume net incom for the fourth quarter was $2,650,000.) 3. Prepare a
statement of shareholders' equity for Nicklaus Corporation for 2021. Complete this question by
entering your answers in the tabs below. Prepare journal entries to record the deciaration and
payment of these stock and cash dividends. (If no entry is required for a transaction/event, select
"No journal entry required" in the first account field.). Journal entry worksheet Record distribution
of common stock dividend. Note: Enter debits befare credits.On November 1, 2021, the Nicklaus
Corporation deciares a $0.16 per share cash dividend on common stock and a $0.33 per share
cash dividend on preferred stock. Payment is scheduled for December 1, 2021, to shareholders of
record on November 15,2021. On December 2, 2021, the Nicklaus Corporation declares a 1%
stock dividend payable on December 28,2021 , to shareholders of record on December 14. At the
date of declaration, the common stock was selling in the open market at $12 per share. The
dividend will result in 76,000(0.017,600,000) additional shares being issued to shareholders.
Required: 1. Prepare journal entries to record the declaration and payment of these stock and
4. cash dividends. 2. Prepare the December 31,2021 , shareholders' equity section of the balance
sheet for the Nicklaus Corporation. (Assume net income for the fourth quarter was $2,650,000.) 3.
Prepare a statement of shareholders' equity for Nicklaus Corporation for 2021. Complete this
question by entering your answers in the tabs below. Prepare the December 31,2021 ,
shareholders' equity section of the balance sheet for the Nicklaus Corporation. (Assume net
income for the fourth quarter was $2,650,000.)Required: 1. Prepare journal entries to record the
declaration and payment of these stock and cash dividends. 2. Prepare the December 31,2021 ,
shareholders' equity section of the balance sheet for the Nicklaus Corporation. (Assume net
income for the fourth quarter was $2,650,000.) 3. Prepare a statement of shareholders' equity for
Nicklaus Corporation for 2021. Complete this question by entering your answers in the tabs below.
Prepare a statement of shareholders' equity for Nicklaus Corporation for 2021. (Amounts to be
deducted should be indicated with a minus sign. Enter your answers in thousands.)
