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Get college assignment help at uniessay writers Oversubscription, with excess money received on application On 1 August 2018, Prunus Ltd issued a prospectus inviting applications for 800 000 ordinary shares to the public at an issue price of $12, payable as follows $4 on application (due by closing date of 1 November) $5 on allotment (due 1 December) $3 on future call/calls to be determined by the directors By 1 November, applications had been received for 860 000 ordinary shares of which appli cants for 100 000 shares forwarded the full $12 per share, applicants for 300 000 shares for- warded $9 per share and the remainder forwarded only the application money At a directors’ meeting on 7 November, it was decided to allot shares in full to applicants who had paid either the $12 or $9 on application, to reject applications for 20000 shares and to pro- portionally allocate shares to all remaining applicants. According to the company’s constitution all surplus money from application Share issue costs of $11 000 were also paid was received by the due date A first call for $1.60 was made on 1 February 2019 with money due by 1 March. All money was received by the due date. A second and final call for $1.40 was made on 1 June with money due by 18 June. All money was received by the due date can be transferred to Allotment and/or Call accounts. on 7 November. All outstanding allotment money Required Prepare the journal entries to record these transactions of Prunus Ltd. (Show all workings.)

Question: Transaction No. Transaction January 1: Pane Purchases Inventory On Account To Make Stained Glass Windows. The Contract Has Terms Of 2/10, N/30. The Goods A Were Purchased Under The Shipping Terms Of FOB Destination Inventory Purchased Shipping Cost $7,750,000 $4,000 January 5: Pane Pays For The Inventory Purchased In Transaction A. B January 6: Pane’s …

Transaction No. Transaction January 1: Pane purchases inventory on account to make stained glass windows. The contract has terms of 2/10, n/30. The goods A were purchased under the shipping terms of FOB Destination Inventory Purchased Shipping Cost $7,750,000 $4,000 January 5: Pane pays for the inventory purchased in transaction A. B January 6: Pane’s tenant pays for 3 years of rent. The tenant first occupied the property on January 1 of the current year. C $30,000 Total Rent Paid March 1: Pane purchases additional inventory on account to make stained glass windows. The goods were purchased under the shipping terms of FOB shipping point. The contract has the terms of 1/10, n/30. Inventory Purchased $12,325,000 Shipping Cost a00’6$ E March 12: Pane purchased a one year insurance policy with coverage beginning on April 1. Insurance Policy $40,000

your country’s Board of Toursim intends to promote the country as

your country’s Board of Toursim intends to promote the country as a destination that offers cultural and business opportunities to visitors. Wealthy elite travellers from Europe and North America are to be targeted in this campaign. Write the presentation that the Board of Tourism could use to promote your country and the strategies you would employ to enhance the

Question: Burnt Red Company Balance Sheet December 31, 20Y2 Assets Total Current Assets $350,0 Replacement Cost Accumulated Depreciation Book Value Property, Plant, And Equipment: Land $250,000 $50,000 $200,000 Buildings 450,000 160,000 290,000 Factory Equipment 375,000 140,000 235,000 Office Equipment 125,000 60,000 65,000 Patents 90,000 90,000 Goodwill 60,000 …

Burnt Red Company Balance Sheet December 31, 20Y2 Assets Total current assets $350,0 Replacement Cost Accumulated Depreciation Book Value Property, plant, and equipment: Land $250,000 $50,000 $200,000 Buildings 450,000 160,000 290,000 Factory equipment 375,000 140,000 235,000 Office equipment 125,000 60,000 65,000 Patents 90,000 90,000 Goodwill 60,000 10,000 50,000 Total property, plant, and equipment $1,350,000 $420,000 $930,000 1. Fixed assets should be reported at 2. Land 3. Patents and goodwill should be 4. Goodwill should be Check My Work Balance Sheet December 31, 20Y2 Assets Total current assets Book Value Accumulated Depreciation Replacement Cost Property, plant, and equipment: $200,000 $50,000 $250,000 Land 290,000 160,000 450,000 Buildings 235,000 140,000 375,000 Factory equipment 65,000 60,000 book value. 125,000 Office equipment 90,000 90,000 cost Patents 50,000 10,000 60,000 Goodwill net value. $1,350,000 replacement cost. $930,000 $420,000 Total property, plant, and equipment none of these. 1. Fixed assets should be reported at 2. Land 3. Patents and goodwill should be 4. Goodw should be Check My Work CengageNOWv2 | Online teaching and learning resource from Cengage Leaming- Google Chrome https//v2.cengagenow.com/ilm/takeAssignment/takeAssignmentMain.do?invoker assignments

Question: June 1: Pane Pays For The Inventory Purchased In Transaction D. July 1: Pane Pays Cash For A Patent That Will Allow Them To Produce A Revolutionary New Window For Boats And Other Marine Vehicles Called “T-Panes” G Cost Of Patent $100,000 Remaining Legal Life Of Patent (in Years) 20 H July 28: Pane Issued Shares Of Common Stock Number Of Shares 6,500 …

June 1: Pane pays for the inventory purchased in transaction D. July 1: Pane pays cash for a patent that will allow them to produce a revolutionary new window for boats and other marine vehicles called “T-Panes” G Cost of Patent $100,000 Remaining legal life of patent (in years) 20 H July 28: Pane issued shares of common stock Number of shares 6,500 $1 Par Value Price Per Share $42 July 31: Pane sells window panes to customers. Some customers paid in cash, others purchased their goods on accoun unt. Pane uses the perpetual method to track their inventory. Cash Sales 5,367,000 Sales on account 40,054,000 Cost of Goods Sold 13,250,000

Article “World War II Overview” and Foner on World War II,

Article “World War II Overview” and Foner on World War II, write a paragraph with at least five sentences answering the question, “Why do many historians consider World War II a good war?” Article “Cold War-an Overview.” Then read Foner on the Cold War. Then answer these questions. 1. What was the Cold War? 2. In your opinion, who started the Cold War? Explain. 3. List three major prolonged conflicts in the Cold War. 4. How did the Cold War influence society and culture? 5. Evaluate the role of technology on the Cold War.

Question: J August 6: Pane Purchases Land With Cash. At The Time Of Purchase, Pane Also Had To Pay For Survey Fees And Costs To Demolish A Building On The Land. Cost Of Land $345,000 Demolish Building $2,000 Survey Fees $300 November 1: Pane Lends One Of Their Employees Cash In Exchange For A Note Receivable. The Employee Is Required To Pay Pane K Back For The …

J August 6: Pane purchases land with cash. At the time of purchase, Pane also had to pay for survey fees and costs to demolish a building on the land. Cost of Land $345,000 Demolish Building $2,000 Survey Fees $300 November 1: Pane lends one of their employees cash in exchange for a note receivable. The employee is required to pay Pane K back for the principal and interest on May 1, 2019. Principal $400,000 Interest Rate 7% 5/1/19 Maturity Date November 15: Pane sales additional goods to customers on acco unt. $20,000,000 Sales on account $6,350,000 Cost of Goods Sold M December 1: Pane puchases a piece of machinery with cash that will assist in making “T-Panes” Cost of Machinery $890,000 Installation Fees $500 $1,030 Transportation Costs

Question: Transaction No. Transaction N December 10: Pane Collects A Portion Of Their Accounts Receivable $43,758,000 Amount Collected December 18: Pane Sold A Piece Of Their Equipment. $15,000 Sale Price Equipment Historical Cost $60,000 Accumulated Depreciation For This Equipment $41,000 P December 31: Pane Paid The IRS Their 2018 Income Tax. $2,000,000 Income …

Transaction No. Transaction N December 10: Pane collects a portion of their accounts receivable $43,758,000 Amount collected December 18: Pane sold a piece of their equipment. $15,000 Sale Price Equipment Historical Cost $60,000 Accumulated Depreciation for this equipment $41,000 P December 31: Pane paid the IRS their 2018 income tax. $2,000,000 Income Tax Paid On December 31, Pane paid cash dividends of $8,000 to its shareholders. Q R The payroll information for the year is shown below. All salaries and wages were previously paid for in cash, however this activity has not been recorded on Pane’s books. Number of Employees 125 Employee payment (daily) $200 Days worked in the current year 300 On December 31, Pane was notified that their one of their customers filed bankruptcy and would not be able to pay off their $2,000 account receivable. S

Question: Explain Problem 12-6A Share Transactions, Dividends, Statement Of Changes In Equity LO2,3,4.5. CHECK FIGURES: 2. Retained Earnings, December 31, 2018 $428,800; 3. Total Equity $859,600 The Balance Sheet For Umi Sustainable Seafood Inc. Reported The Following Components Of Equity December 31, 2017: Common Shares, Unlimited Shares Authorized 20,000 Shares …

Explain Problem 12-6A Share transactions, dividends, statement of changes in equity LO2,3,4.5. CHECK FIGURES: 2. Retained earnings, December 31, 2018 $428,800; 3. Total equity $859,600 The balance sheet for Umi Sustainable Seafood Inc. reported the following components of equity December 31, 2017: Common shares, unlimited shares authorized 20,000 shares issued and outstanding $368,000 216.000 Retained earnings. $584,000 Total equity In 2018, Umi had the following transactions affecting shareholders and the equity accounts: The directors declared a $3.20 per share cash dividend payable on Feb. 28 to the Feb. 5 shareholders of reco Jan Paid the dividend declared on January 5. Feb 28 Sold 750 common shares at $38.40 per share. July Aug Sold 1,250 common shares at $27.20 per share. 22 The directors declared a $3.20 per share cash dividend payable on October 28 to the October 5 shareholders Sept. 5 of record. Paid the dividend declared on September 5 Closed the $347,200 credit balance in the Income Summary account. Oct 28 Dec 31 31 Closed the Cash Dividends account. Required 1. Prepare journal entries to record the transactions and closings for 2018. 2. Prepare a statement of changes in equity for the year ended December 31, 2018. 3. Prepare the equity section of the corporation’s balance sheet as of December 31, 2018.

Question: Burnt Red Company Balance Sheet December 31, 20Y2 Assets Total Current Assets $350,000 Replacement Cost Accumulated Depreciation Book Value Property, Plant, And Equipment: Land $250,000 $50,000 $200,000 Buildings 450,000 160,000 290,000 Factory Equipment 375,000 140,000 235,000 Office Equipment 125,000 60,000 65,000 Patents 90,000 Goodwill 60,000 10,000 …

Burnt Red Company Balance Sheet December 31, 20Y2 Assets Total current assets $350,000 Replacement Cost Accumulated Depreciation Book Value Property, plant, and equipment: Land $250,000 $50,000 $200,000 Buildings 450,000 160,000 290,000 Factory equipment 375,000 140,000 235,000 Office equipment 125,000 60,000 65,000 Patents 90,000 Goodwill 60,000 10,000 50,000 Total property, plant, and equipment $1,350,000 $420,000 $930,000 1. Fixed assets should be reported at 2. Land 3. Patents and goodwill should be 4, Goodwill should be Calculator eBook Chapter 10 Burnt Red Company Balance Sheet December 31, 20Y2 Assets Total current assets Book Value Accumulated Depreciation Replacement Cost Property, plant, and equipment: $200,000 $50,000 $250,000 Land 290,000 160,000 450,000 Buildings 140,000 235,000 375,000 Factory equipment book value. 65,000 125,000 60,000 Office equipment 90,000 90,000 Patents cost. 50,000 60,000 10,000 Goodwill net value. $1,350,000 replacement cost. $420,000 $930,000 Total property, plant, and equipment none of these. 1. Fixed assets should be reported at 2. Land 3. Patents and goodwill should be 4. Goodwill should be Check My Work Calculator eBook Chapter 10 Burnt Red Company Balance Sheet December 31, 20Y2 Assets $350,000 Total current assets Book Value Accumulated Depreciation Replacement Cost Property, plant, and equipment: $200,000 $50,000 $250,000 Land 290,000 160,000 450.000 Buildings 235,000 140,000 375,000 Factory equipment 60,000 65,000 125,000 Office equipment 90,000 does not depreciate. Patents 0,000 50,000 Goodwill is listed as a current asset. 0,000 $930,000 $1,3 s listed under intangible assets. Total property, plant, and equipment is amortized. none of these. 1. Fixed assets should be reported at 2. Land 3. Patents and goodwill should be 4. Goodwill should be Check My Work Chapter 10 Calculator eBook Burnt Red Company Balance Sheet December 31, 20Y2 Assets $350,000 Total current assets Book Value Accumulated Depreciation Replacement Cost Property, plant, and equipment: $250,000 $50,000 $200,000 Land 450,000 160,000 Buildings 290,000 375,000 Factory equipment 140,000 235,000 Office equipment 125,000 60,000 65,000 Patents 90,000 90,000 Goodwill listed under current liabilities. 50,000 Total property, plant, and equipment listed under property, plant, and equipment. $930,000 listed under current assets. listed under intangible assets. 1. Fixed assets should be reported at none of these. 2. Land 3. Patents and goodwill should be 4. Goodwill should be Check My Work Chapter 10 Calculator eBook Burnt Red Company Balance Sheet December 31, 20Y2 Assets $350,000 Total current assets Accumulated Depreciation Book Value Replacement Cost Property, plant, and equipment: $250,000 $200,000 $50,000 Land 450,000 160,000 290,000 Buildings 375,000 140,000 235,000 Factory equipment Office equipment 125,000 60,000 65,000 Patents 90,000 90,000 Goodwill 60,000 10,000 50,000 $1,35 Total property, plant, and equipment 20,000 $930,000 amortized. depreciated. listed as a current asset. 1. Fixed assets should be reported at written down upon impairment. 2. Land 3. Patents and goodwill should be none of these. 4. Goodwill should be Check My Work Chapter 10 eBook Calculator Fixed asset turnover ratio Amazon.com, Inc. is the world’s leading Internet retailer of merchandise and media. Amazon also designs and sells electronic products, such as e-readers. Netflix, Inc. is the world’s leading Internet television network. Both companies compete in the digital media and streaming space. However, Netflix is more narrowly focused in the digital streaming business than ist Amazon. Sales and average book value of fixed assets information (in millions) are provided for Amazon and Netflix for a recent year as follows: Amazon Netflix Sales $107,006 $6,780 Average book value of fixed assets 19,403 162 a. Compute the fixed asset turnover ratio for each company. Round to one decimal place. Fixed Asset Turnover Ratio Amazon Netflix b. Which company is more efficient in generating sales from fixed assets? C. B Amazon calculations above which of the following is true? ence in their fixed asset turnover ratios because Netilx does not require significant investment in fixed asset as compared to Amazon. This is primarily due to the difference in business. Netflix 2. The difference in their fixed asset turnover ratios because Amazon does not require significant investment in fixed asset as compared to Netflix. This is primarily due to the difference in 3. The difference in their fixed asset turnover ratios because Netfilix is managing its fixed assets more efficiently than Amazon. This is primarily due to the difference in their management. 4. The difference in their fixed asset turnover ratios because Amazon is managing its fixed assets more efficiently than Netflix. This is primarily due to the differencee in their management their core business. Ilenakeangrogress-false Chapter 10 eBook Caloulaton encrtmgTeT Amazon. Sales and average book value of fxed assets information (in milions) are provided for Amazon and Netfix for a recent year as follows Amazon Netflix Sales $107,006- $6,70 Average book value of fixed assets 19,403 162 a. Compute the fixed asset turnover ratio for each company. Round to one decimal place. Fixed Asset Turnover Ratio Amazon Netflix b. Which company is more efficient in generating sales from fixed assets? c. Based on your calculations above which of the following is true? rence in their fixed asset turnover ratios because Netfilx does not require significant investment in fixed asset as compared to Amazon. This is primarily due to the difference in 1 e business 1. rence in their fixed asset turnover ratios because Amazon does not require significant investment in fixed asset as compared to Netflix. This is primarily due to thee difference in e business. 2. rence in their fixed asset turnover ratios because Netflix is managing its fixed assets more efficiently than Amazon. This is primarily due to the difference in their management. rence in their fixed asset turnover ratios because Amazon is managing its fixed assets more efficiently than Netflix. This is primarily due to the difference in their management. 3. ” 4. Chapter 10 eBook Caloulator Amazon, Sales and average book value of fixed assets information (in millions) are provided for Amazon and Netfx for a recent year as follows Amazon Netflix Sales $107,006 $6,780 Average book value of fixed assets 19,403 162 a. Compute the fixed asset turnover ratio for each company. Round to one decimal place. Fixed Asset Turnover Ratio aze Netflix b. Which company is mpre efficient in generating sales from fixed assetsh c. Based on your calculationns above which of the following is true? 1. The difference in their fixed asset turnover ratios because Netfilx does not require significant investment in flxed asset as compared to Amazon. This is primarily due to the difference in their core business 2. The difference in their fixed asset turnover ratios because Amazon does not require significant investment in fixed asset as compared to Netfix. This is primarily due to the difference in their core business 3. The difference in their fixed asset turnover ratios because Netflix is managing its fixed assets more efficiently than Amazon. This is primarily due to the difference in their management. 4. The difference in their fixed asset turnover ratios because Amazon is managing its fixed assets more efficiently than Netflix. This is primarily due to the difference in their management Check My Work Previous Next Transactions for fixed assets, including sale Instructions Chart of Accounts Journal Instructions The following transactions and adjusting entries were completed by Legacy Furniture Co. during a three-year period. All are related to the use of delivery equipment. The double-declining-balance.method of depreciation is used. Year 1 Jan. 4 Purchased a used delivery truck for $28,000, paying cash. Nov. 2 Paid garage $675 for miscellaneous repairs to the truck Dec. 31 Recorded depreciation on the truck for the year. The estimated useful life of the truck is four years, withs a residual value of $5,000 for the truck Year 2 Jan. 6 Purchased a new truck for $48,000, paying cash Apr. 1 Sold the used truck purchased on Jan. 4 of Year 1 for $15,000. (Record depreciation to date in Year 2 for the truck.) June 11 Pald garage $450 for miscellaneous repairs to the truck Dec. 31 Record depreciation for the new truck. It has an estimated residual value of $9,000 and an estimated life of five years. Year 3 Instructions Chart of Accounts Journal Instructions Jan. 6 Purchased a new truck for $48,000, paying cash. Apr. 1 Sold the used truck purchased on Jan. 4 of Year 1 for $15,000. (Record depreciation to date in Year 2 for the truck.) June 11 Paid garage $450 for miscellaneous repairs to the truck. Dec. 31 Record depreciation for the new truck. It has an estimated residual value of $9,000 and an estimated life of five years. Year 3 July 1 Purchased a new truck for $54,000, paying cash. Oct. 2 Sold the truck purchased January 6, Year 2, for $16,750. (Record depreciation to date for Year 3 for the truck.) Dec. 31 Recorded depreciation on the remaining truck purchased on July 1. It has an estimated residual value of $12,000 and an estimated useful life of eight years. Journalize the transactions and the adjusting entries. Refer to the Chart of Accounts for exact wording of account titles. Amortization and depletion entries Instructions Starting questions Chart of Accounts Journal Instructions Data related to the acquisition of timber rights and intangible assets during the current year ended December 31 are as follows: A. Timber rights on a tract of land were purchased for $1,600,000 on February 22. The stand of timber is estimated at 5,000,000 board feet. During the current year, 1,100,000 board feet of timber were cut and sold. B. On December 31, the company determined that $3,750,000 of goodwill was impaired. C. Governmental and legal costs of $6,600,000 were incurred on April 3 in obtaining a patent with an estimated economic life of 12 years. Amortization is to be for three-fourths of a year Required: 1. Determine the amount of the amortization, depletion, or impairment for the current year for each of the foregoing items. 2. Journalize the adjusting entries required to record the amortization, depletion, or impairment for each item. Refer to the Chart of Accounts fe exact wording of account titles.

Question: CONTROL LIMITS, VARIANCE INVESTIGATION The Management Of Golding Company Has Determined That The Cost To Investigate A Variance Produced By Its Standard Cost System Ranges From $2,000 To $3,000. If A Problem Is Discovered, The Average Benefit From Taking Corrective Action Usually Outweighs The Cost Of Investigation. Past Experience From The Investigation …

Get college assignment help at uniessay writers CONTROL LIMITS, VARIANCE INVESTIGATION The management of Golding Company has determined that the cost to investigate a variance produced by its standard cost system ranges from $2,000 to $3,000. If a problem is discovered, the average benefit from taking corrective action usually outweighs the cost of investigation. Past experience from the investigation of variances has revealed that corrective action is rarely needed for deviations within 8 percent of the standard cost. Golding produces a single product, which has the following standards for materials and labour: Direct materials (8 kg © $0.25) Direct labour (0.4 hr. © $7.50) Actual production for the past three months with the associated actual usage and costs for materials and labour follow. There were no $2 beginning or ending May raw material inventories. April June Production (units) 90,000 100,000 110,000 Direct materials: Cost S189,000 S218,000 S230,000 Usage (kg) 723,000 885.000 870,000 Direct labour: Cost S270,000 36,000 $323,000 $360,000 46,000 Usage (kg) 44,000 Required: What upper and lower control limits would you use for materials variances? For labour variances? Compute the materials and labour variances for April, May, and June identify those that would require investigation

Question: 6. You Are Given The Following Information About A Company: Earnings Per Share 2017: Euro 3.57 Market Price Of The Company’s Shares As Of 31.12.2017: Euro 47.75 Book Value Of Equity As Of 31.12.2017: Euro 879 550 Profit For The Year 2017: Euro 89 250 Estimated Profit For The Year 2018: Euro 99 955 After-tax Net Interest Expense 2017: Euro 14 885 Cost …

6. You are given the following information about a company: Earnings per share 2017: euro 3.57 Market price of the company’s shares as of 31.12.2017: euro 47.75 Book value of equity as of 31.12.2017: euro 879 550 Profit for the year 2017: euro 89 250 Estimated profit for the year 2018: euro 99 955 After-tax net interest expense 2017: euro 14 885 Cost of equity capital: 10,0% Net borrowing cost (net of tax): 6,2% Calculate the following numbers/ratios: a. Forward price-earnings ratio (P/E) b. Market-to-book ratio (P/B) c. Estimated residual income (or residual earnings) (RE) for 2018 6.1 What does the ratios in a.

Question: Question 2 (40 Marks) The Following Transactions Relate To A Small Government Institution For A Week Ending 29 February 2016 A Corporate Taxpayers Are Required To Make Tax Payments Of N$100 Million To The Govenment, But Only $90 Million Is Received. At The End Of The Week N$10 Milion Is Outstanding. B. The Govermment Sells Fixed Assets For N$100 Million. …

Question 2 (40 marks) The following transactions relate to a small government institution for a week ending 29 February 2016 a Corporate taxpayers are required to make tax payments of N$100 million to the govenment, but only $90 million is received. At the end of the week N$10 milion is outstanding. b. The govermment sells fixed assets for N$100 million. The assets had been valued at $100 milion. C. Government salary payments are made during the week. In addition to paying employees NS60 million, the government is obligated to provide for their pensions when they retire, employees earned N$30 million in future pension rights during the period. d. The government settles a long-running legal dispute. It agrees to pay N$30 million to the plainbff in 2 months time e Al the government’s borrowing are held in foreign exchange. The exchange rate declined by 2% during the week Additional information The fallowing were the opening balances at the beginning of the week 1 Bank 2 Accounts receivable NS 20 million 3 Fixed Assets NS 50 million NS 800 milion N$ 500 million 4. Borrowings Required: a) Prepare an Operating Statement using cash basis of accounting (10 marks) b) Prepare an c) Prepare a Balance Sheet using accrual basis of accounting (20 marks) Operating Statement using accrual basis of accounting (10 marks (22 marks) Ouestion 3

Question: 4. Two Companies, Aber AS And Beber AS Are Both Operating Within The Same Industry. Below, You Find A Condensed Income Statement Prognosis For 2018 For Both Companies And Consolidated Balance Sheets As Of 31.12.2017 NOK Millions Aber Beber Balance Sheet As Of 31.12.2017 Assets: Cash And Cash Equivalents 30 120 85 Marketable Securities Accounts Receivable …

4. Two companies, Aber AS and Beber AS are both operating within the same industry. Below, you find a condensed income statement prognosis for 2018 for both companies and consolidated balance sheets as of 31.12.2017 NOK millions Aber Beber Balance sheet as of 31.12.2017 Assets: Cash and cash equivalents 30 120 85 Marketable securities Accounts receivable 110 170 Inventory 10 160 NOK millions Beber Aber t financial assets 360 Total current assets 670 Forecast 2018 2 140 Revenues 2140 Property, plant

Question: Practice Exercises Example Exercises OBJ. 1 EE 14-1 A 679 PE 14-1A Alternative Financing Plans Frey Co. Is Considering The Following Alternative Financing Plans: Show Me How Plan 2 Plan 1 $2,000,000 Issue 5% Bonds (at Face Value) $6,000,000 6,000,000 Issue Preferred$1 Stock, $20 Par 4,000,000 6,000,000 Issue Common Stock, $25 Par Income Tax Is Estimated …

Practice Exercises Example Exercises OBJ. 1 EE 14-1 A 679 PE 14-1A Alternative financing plans Frey Co. is considering the following alternative financing plans: Show Me How Plan 2 Plan 1 $2,000,000 Issue 5% bonds (at face value) $6,000,000 6,000,000 Issue preferred$1 stock, $20 par 4,000,000 6,000,000 Issue common stock, $25 par Income tax is estimated at 40% of income. Determine the earnings per share of common stock, assuming that income before bond interest and income tax is $800,000 Example Exercises Bond investment transactions OBJ. 2 EE 15-1 p725 PE 15-1A Journalize the entries to record the following selected bond investment transactions for Hall Trust: a. Purchased for cash $240,000 of Medina City 6 % bonds at 100 plus accrued interest of $3.600 Show Me How b. Received first semiannual interest payment. c. Sold $120,00o of the bonds at 98 plus accrued interest of $600.

Question: Exmple Exercises PE 15-1A Journalize The Entries To Record The Following Selected Bond Investment Transactions For Hall Trust A. Purchased For Cash $240,000 Of Medina City 6% Bonds At 100 Plus Accrued Interest Of $3,600. Bond Investment Transactions OBJ. 2 EE 15-1725 Thow Me Iow B. Received First Semiannual Interest Payment. C. Sold $120,000 Of The …

Exmple Exercises PE 15-1A Journalize the entries to record the following selected bond investment transactions for Hall Trust a. Purchased for cash $240,000 of Medina City 6% bonds at 100 plus accrued interest of $3,600. Bond investment transactions OBJ. 2 EE 15-1725 thow Me iow b. Received first semiannual interest payment. c. Sold $120,000 of the bonds at 98 plus accrued interest of $600. OBJ. 2

Question: The Following Information Is Available For Shanika Company For 20Y6: Inventories December 31 January 1 Materials $369,310 $454,250 Work In Process 664,760 617,780 Finished Goods 638,910 631,410 Advertising Expense $308,440 Depreciation Expense-office Equipment 43,610 Depreciation Expense-factory Equipment 58,600 Direct Labor 699,550 Heat, Light, And …

The following information is available for Shanika Company for 20Y6: Inventories December 31 January 1 Materials $369,310 $454,250 Work in process 664,760 617,780 Finished goods 638,910 631,410 Advertising expense $308,440 Depreciation expense-office equipment 43,610 Depreciation expense-factory equipment 58,600 Direct labor 699,550 Heat, light, and power-factory 23,170 Indirect labor 81,770 Materials purchased 685,920 Office salaries expense 239,390 Property taxes-factory 19,080 Property taxes-headquarters building 39,520 Rent expense-factory 32,250 Sales 3,211,550 Sales salaries expense 394,290 Supplies-factory 15,900 Miscellaneous costs-factory 9,990 Required: 1. Prepare the 20Y6 statement of cost of goods manufactured. 1. Prepare the 20Y6 statement of cost of goods manufactured. Shanika Company Statement of Cost of Goods Manufactured For the Year Ended December 31, 20Y6 Work in process inventory, January 1, 20Y6 Direct materials: Factory overhead: Total factory overhead Total manufacturing costs incurred in 20Y6 Total manufacturing costs Cost of goods manufactured 2. Prepare the 20Y6 income statement. Shanika Company Income Statement For the Year Ended December 31, 20Y6 Cost of good sold: Operating expenses: Administrative expenses: Selling expenses: Total operating expenses

Question: 북마크 Use The Following Information For Questions 7 And 8. The Following Information Was Available From The Inventory Records Of Rich Company For January: Units Unit Cost €9.77 Total Cost Balance At January 1 Purchases January 6 January 26 3,000 E29,310 2,000 10.30 10.71 20,600 28,917 2,700 Sales: January 7 January 31 Balance At January 31 (2,500) …

북마크 Use the following information for questions 7 and 8. The following information was available from the inventory records of Rich Company for January: Units Unit Cost €9.77 Total Cost Balance at January 1 Purchases January 6 January 26 3,000 E29,310 2,000 10.30 10.71 20,600 28,917 2,700 Sales: January 7 January 31 Balance at January 31 (2,500) (4.000) 1,200 Assuming that Rich does not maintain perpetual inventory records, what should be the inventory January 31, using the weighted-average inventory method, rounded to the nearest dollar? E12,606. 7. at a. b. 12,284. c. E12,312. d. 12,432. 8, Assuming that Rich maintains parpetual inventory records, what should be the inventory at January 31, using the moving-average inventory method, rounded to the nearest dollar? €12,606. a. b. €12,284. c. €12.312. d. €12.432 April 1 and finished on December 1. The fraction April 1 to find weighted-average accumulated 15. Construction of a qualifying asset is started on used to expenditure made multiply expenditures is 8/8 on an a. b. 8/12 C. 9/12, d. 11/12 16. Interest revenue earned on specific borrowings for qualifying assets reduces the cost of the qualifying asset. reduces interest expense reported on the income statement. increases equity in the period earned. None of these answer choices are correct. a. b. C. d. 17. Mendenhall Corporation constructed a building expenditures were €4,000,000, actual interest was €600,000, and avoidable interest was €300,000 If the salvage value is €800,000, and the useful life is 40 years, depreciation expense for the first full year using the straight-line method is a. 237,500. at a cost of E10,000,000. Average accumulated b. 245,000. €257,500 C. d. E337,500. 18. Messersmith Company is constructing a building. Construction began in 2019 and the building completed 12/31/19. Messersmith made payments to the construction company of 1,000,000 9/1, and €2,000,000 on 12/31. Average accumulated expenditures were was 7/1, €2,100,000 on on €1,025,000 a. b. €1,200,000. €3,100,000. C. d. E5,100,000. at a cost of £20,000,000. Average accumulated 19. Huffman Corporation constructed a building expenditures were £8,000,000, actual interest was £1,200,000, and avoidable interest was £600,000. If the salvage value is £1,600,000, and the useful life is 40 years, depreciation expense for the first full year using the straight-line method is £475,000 b. £490,000 c. £S515,000. a. d. £675,000. 20. During 2019, Kimmel Co. incurred average accumulated expenditures of E400,000 during construction of assets that qualified for capitalization of interest. The only debt outstanding during 2019 was a €500,000, 10 % , 5-year note payable dated January 1, 2017. What is the amount of interest that should be capitalized by Kimmel during 2019? €O V a. b. €10,000. €40,000. c. d. €50,000.

Question: Use The Following Information For Questions 21 Through 24. On January 2, 2018, Indian River Groves Began Construction Of A New Citrus Processing Plant. The Automated Plant Was Finished And Ready For Use On Construction Were As Follows: September 30, 2019. Expenditures For The January 2, 2018 September 1, 2018 December 31, 2018 £200,000 600,000 600,000 …

Use the following information for questions 21 through 24. On January 2, 2018, Indian River Groves began construction of a new citrus processing plant. The automated plant was finished and ready for use on construction were as follows: September 30, 2019. Expenditures for the January 2, 2018 September 1, 2018 December 31, 2018 £200,000 600,000 600,000 600,000 March 31, 2019 400,000 September 30, 2019 Indian River Groves borrowed £1,100,000 on a construction loan at 12 % interest on January 2, 2018 This loan was outstanding during the construction period. The company also had £4,000,000 in 9% bonds outstanding in 2018 and 2019. 21. What were the weighted-average accumulated expenditures for 2018? E533,333 a. b. £500,000 £400,000 C. d. £1,000,000 22. The interest capitalized for 2018 was: £180,000 b. £48,000 a. c. £192,000 d. £60,000 23. What were the weighted-average accumulated expenditures for 2019 by the end of the construction period? £390,000 a. b. £1,635,000 £1,986,000 d. £1,386,000 C. 24. The interest capitalized for 2019 was: £124,740 b. £118,305 a. £ 25,740 C. d. £99,000 25. Which of the following is true of depreciation accounting? It is not a matter of valuation. a. It is part of the matching of revenues and expenses. It retains funds by reducing income taxes and dividends. All of these answer choices are correct. b. C. d. d. All of these answer cmonn Which of the following most accurately reflects the concept of depreciation as used in accounting? The process of charging the decline in value of an economic resource to income in the period in which the benefit occurred. b. The process of allocating the cost of tangible assets to expense in a systematic and rational manner to those periods expected to benefit from the use of the asset. A method of allocating asset cost to an expense account in a manner which closely matches the physical deterioration of the tangible asset involved. d. An accounting concept that allocates the portion of an asset used up during the year to the contra asset account for the purpose of properly recording the fair market value of tangible 26. a. C. assets

Question: Application Oversubscription On Share Issue, Payable In Full On Maple Ltd Was On 31 March 2017, Payable In Full On The Company Received Applications For 560 000 Shares, Sent Letters Of Regret To 10 000 Shares And The Remaining Applicants Received Partial Allotments By Issue Of 10 Shares For Every 11 Shares Applied For, Making The Total Allotment 500 …

application Oversubscription on share issue, payable in full on Maple Ltd was on 31 March 2017, payable in full on The company received applications for 560 000 shares, sent letters of regret to 10 000 shares and the remaining applicants received partial allotments by issue of 10 shares for every 11 shares applied for, making the total allotment 500 000 shares. Legal costs of issuing the shares, $12000, were paid. registered on 1 March 2017. Directors decided to issue 500 000 ordinary shares application at an issue price of $2 applicants for Required Prepare journal entries and ledger accounts to record the above transactions

Question: Issue By Instalments, Oversubscription, Forfeiture And Reissue On 1 April 2016, Magnolia Ltd Was Incorporated And A Prospectus Was Issued Inviting Appli- Cations For 100000 Shares, At An Issue Price Of $10, Payable $5 On Application, $2.50 On Allotment And $1.25 On Each Of Two Calls To Be Made At Intervals Of 4 Months After The Date Of Allotment By …

Issue by instalments, oversubscription, forfeiture and reissue On 1 April 2016, Magnolia Ltd was incorporated and a prospectus was issued inviting appli- cations for 100000 shares, at an issue price of $10, payable $5 on application, $2.50 on allotment and $1.25 on each of two calls to be made at intervals of 4 months after the date of allotment By 30 April, applications were received for 120 000 shares. On 3 May, the directors allotted 100 000 ordinary shares to the applicants in proportion to the number of shares for which appli cations had been made. The surplus application money was offset against the amount payable on allotment. The balance of the allotment money was received by 10 May. Legal costs of forming the company were $1300 and were paid on 11 May. Share issue costs of $800 were also paid on the same date. The two calls were made on the dates stated in the prospectus, but the holders of 10 000 shares did not pay either call. In addition, a holder of another 5000 shares did not pay the second call On 10 March 2017, provided by the company’s constitution, the directors forfeited the unpaid as 15 000 shares on which calls were On 25 March 2017, the forfeited shares were reissued as $9 per share. Costs of forfeiture and reissue amounted to $250. The constitution does not provide for refund of any balance in the forfeited shares account after reissue to former shareholders fully paid for a consideration of

The post Question: Oversubscription, With Excess Money Received On Application On 1 August 2018, Prunus Ltd Issued A Prospectus Inviting Applications For 800 000 Ordinary Shares To The Public At An Issue Price Of $12, Payable As Follows $4 On Application (due By Closing Date Of 1 November) $5 On Allotment (due 1 December) $3 On Future Call/calls To Be Determined By The … appeared first on uniessay writers.

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