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Get college assignment help at uniessay writers SE 8. Assume that the step in SE 6 is depreciated using the double-declining-balance method. How much would depreciation expense be in each year?

25. The Francis Company is expected to pay a dividend of

25. The Francis Company is expected to pay a dividend of D1 = $1.25 per share at the end of the year, and that dividend is expected to grow at a constant rate of 6.00% per year in the future. The company’s beta is 1.15, the market risk premium is 5.50%, and the risk-free rate is 4.00%. What is the company’s current stock price?

SE 8. Assume that the step in SE 6 is depreciated

SE 8. Assume that the step in SE 6 is depreciated using the double-declining-balance method. How much would depreciation expense be in each year?

You are given the following information for transactions by Schwinghamer Co.

You are given the following information for transactions by Schwinghamer Co. All transactions are set Record P6-6B in cash. Schwinghamer uses a perpetual inventory system and the FIFO cost formula. Unit Cost/ Units Selling Price perpet LCNR Date Transaction Oct. 1Beginning inventory 5 Purchase 8 Sale 15 Purchase 20 Sale 25 Purchase 60 110 (140) 52 (70) 15 $14 13 20 12 16 Instructions e) Prepare the required journal entries for the month of October for Schwinghamer Co. b) Determine the ending inventory for Schwinghamer. ) On October 31, Schwinghamer determines that the product has a net realizable value of $10 per unit. What amount should the inventory be valued at on the October 31 balance sheet? Prepare any required journal entries

Panza Corporation had net income of $250,000 and paid dividends to

Panza Corporation had net income of $250,000 and paid dividends to common stockholders of $50,000 in 2010. The weighted average number of shares outstanding in 2010 was 50,000 shares. Panza Corporation’s common stock is selling for $40 per share on the New York Stock Exchange. Panza Corporation’s price-earnings ratio is

A, B,

A, B,

. The April 30 cash balance according to the accounting records

. The April 30 cash balance according to the accounting records is $78,356, and the bank statement cash balance for that date is $83,525.

As of December 31, 2008, Stand Still Industries had $1,500 of

As of December 31, 2008, Stand Still Industries had $1,500 of raw materials inventory. At the beginning of 2008, there was $1,200 of materials on hand. During the year, the company purchased $183,000 of materials; however, it paid for only $175,500. How much inventory was requisitioned for use on jobs during 2008?

Where is the actuarial liability shown in a Comprehensive Annual Financial

Where is the actuarial liability shown in a Comprehensive Annual Financial Report for a pension trust fund? A) The Statement of Fiduciary Net Assets. B) The Schedule of Funding Progress (RSI). C) The General Fund Balance Sheet only. D) The Government-wide Statement of Net Assets.

For better management acceptance, the flow of input data for budgeting

For better management acceptance, the flow of input data for budgeting should begin with the

Accounting Problem – Leases On Jan 1, 2004, Haden company [

Get college assignment help at uniessay writers Accounting Problem – Leases On Jan 1, 2004, Haden company [ lessor] entered into a non-cancelable cancelable lease agreement with Sandy company[ lessee] for machinery was carried on the accounting records of Haden at $4,530,000 and had a market value of $4,800,000. Minimum lease payments under the lease agreement which expires on December 31, 2013 total $7,100,000. Payments of $710,000 are due each January 1. The first payment was made on January 1, 2004 when the lease agreement was finalized. The interest rate of 10 % which was stipulated in the lease agreement is the implicit rate set by the lessor. The effective interest method of amortization is being used. Sandy expects the machine to have a ten year life with no salvage value, and to be depreciated on as straight-line basic. Collectibility of the rentals is reasonably predictable, and there are no important uncertainties surrounding the costs yet to be incurred by the lessor. Instructions [a] [1]From the lessee’s viewpoint. What kind of lease is the above agreement? Give reasons and supporting calculations [a] [2] From the lessor’s viewpoint. What kind of lease is the above agreement? Give reasons and supporting calculations [b] What should be the income before income taxes derived by Haden from the lease for the year ended December 31, 2004? Show supporting calculations [c] Ignoring income taxes, what should be the expenses incurred by Sandy from this lease for the year ended December 31, 2004? Show supporting calculations. [d] What journal entries should be recorded by Sandy company on January 1, 2004? [e] What journal entries should be recorded by Haden company on January 1, 2004?

Attached document with assignment

Attached document with assignment

Ford County levies for its General Fund $2,000,000 in property taxes.

Ford County levies for its General Fund $2,000,000 in property taxes. In addition, the county is responsible for collecting $4,000,000 in property taxes for the consolidated school district and $1,000,000 in property taxes for a town within the county. 2% of all taxes levied are expected to be uncollectible. When recording the levies in an agency fund, what amount would Ford County record as Taxes Receivable for Other Governments – Current and Due to Other Governments? a. $6,900,000. b. $5,000,000. c. $7,000,000. d. $4,900,000.

the cost of goods manufactured during the year amounted to $665,000

the cost of goods manufactured during the year amounted to $665,000 and annual sales were $998,000, how much is the amount of gross profit for the year?

The first type is 60% pure fruit juice, and the second

The first type is 60% pure fruit juice, and the second type is 85% pure fruit juice. The company is attempting to produce a fruit drink that contains 74% pure fruit juice. How many pints of each of the two existing types of drink must be used to make 90 pints of a mixture that is 75% pure fruit juice?

ACCT 2302 Problem 18-2A

ACCT 2302 Problem 18-2A

10. Which of the following is true regarding the reporting of

10. Which of the following is true regarding the reporting of investments by state and local governmental units? A) Investments, for which a determinable fair value can be obtained, are to be reported at fair value. B) Realized and unrealized gains and losses are to be combined in the relevant operating statement (for example, the Statement of Changes in Fiduciary Net Assets). C) Both of the above. D) Neither of the above.

During 2010 Sedgewick Inc. had sales on account of $132,000, cash

During 2010 Sedgewick Inc. had sales on account of $132,000, cash sales of $54,000, and collections on account of $84,000. In addition, they collected $1,450 which had been written off as uncollectible in 2009. As a result of these transactions the change in the accounts receivable balance indicates a

The investment category for which the investor’s “positive intent and ability

The investment category for which the investor’s “positive intent and ability to hold” is important is: A. Securities reported under the equity method. B. Trading securities. C. Securities classified as held to maturity. D. Securities available for sale. 2. Which category completely excludes equity securities? A. Securities available for sale. B. Consolidating securities. C. Held-to-maturity securities. D. Trading securities. 3. In 2009, Osgood Corporation purchased $4 million in ten-year municipal bonds at face value. On December 31, 2011, the bonds had a market value of $3,600,000 and Osgood reclassified the bonds from held to maturity to trading securities. Osgood’s December 31, 2011, balance sheet and the 2011 income statement would show the following: A. Option A B. Option B C. Option C D. Option D 4. Securities that are purchased with the intent of selling them in the near future to take advantage of short-term price changes are classified as: A. Securities available for sale. B. Consolidating securities. C. Held-to-maturity securities. D. Trading securities. 5. The income statement reports changes in fair value for which type of securities? A. Securities reported under the equity method. B. Trading securities. C. Held-to-maturity securities. D. Securities available for sale. 6. On January 1, 2011, Nana Company paid $100,000 for 8,000 shares of Papa Company common stock. These securities were classified as trading securities. The ownership in Papa Company is 10%. Papa reported net income of $52,000 for the year ended December 31, 2011. The fair value of the Papa stock on that date was $45 per share. What amount will be reported in the balance sheet of Nana Company for the investment in Papa at December 31, 2011? A. $284,400. B. $300,000. C. $315,600. D. $360,000. 7. Goofy Inc. bought 15,000 shares of Crazy Co.’s stock for $150,000 on May 5, 2010, and classified the stock as available for sale. The market value of the stock declined to $118,000 by December 31, 2010. Goofy reclassified this investment as trading securities in December of 2011 when the market value had risen to $125,000. What effect on 2011 income should be reported by Goofy for the Crazy Co. shares? A. $0. B. $25,000 net loss. C. $7,000 net gain. D. $32,000 net loss. 8. All investments in debt and equity securities that don’t fit the definitions of the other reporting categories are classified as: A. Trading securities. B. Securities available for sale. C. Held-to-maturity securities. D. Consolidated securities. 9. When an equity security is appropriately carried and reported as securities available for sale, a gain should be reported in the income statement: A. When the fair value of the security increases. B. When the present value of the security increases. C. Only when the Dow Jones Industrial Average increases at least 100 points. D. Only when the security is sold. 10. Unrealized holding gains and losses on securities available for sale would have the following effects on accumulated other comprehensive income: A. Option A B. Option B C. Option C D. Option D 11. Unrealized holding gains and losses on securities available for sale would have the following effects on retained earnings: A. Option a B. Option b C. Option c D. Option d 12. On January 2, 2010, Howdy Doody Corporation purchased 12% of Ranger Corporation’s common stock for $50,000 and classified the investment as available for sale. Ranger’s net income for the years ended December 31, 2010 and 2011, were $10,000 and $50,000, respectively. During 2011, Ranger declared and paid a dividend of $60,000. There were no dividends in 2010. On December 31, 2010, the fair value of the Ranger stock owned by Howdy Doody had increased to $70,000. How much should Howdy Doody show in the 2011 income statement as income from this investment? A. $26,000. B. $7,200. C. $20,000. D. $27,200. 13. If an available-for-sale investment is sold for which there are unrealized gains in accumulated other comprehensive income (AOCI), a reclassification adjustment affects other comprehensive income (OCI) in the period of sale by A. reducing OCI for the amount of unrealized gains in AOCI. B. increasing OCI for the amount of unrealized gains in AOCI. C. no effect on OCI, as OCI only includes the effects of unrealized gains and losses. D. no effect on OCI, as the realized gain is included in AOCI. 14. Seybert Systems accounts for its investment in Wang Engineering as available for sale. Seybert’s balance in accumulated other comprehensive income with respect to the Wang investment is a credit balance of $20,000, and Seybert lists the investment at $100,000 on its balance sheet. Seybert purchased the Wang investment for (ignore taxes): A. $100,000. B. $120,000. C. $80,000. D. cannot be determined from this information. 15. When the equity method of accounting for investments is used by the investor, the investment account is increased when: A. A cash dividend is received from the investee. B. The investee reports a net income for the year. C. The investor records additional depreciation related to the investment. D. The investee reports a net loss for the year. 16. Which of the following increases the investment account under the equity method of accounting? A. Decreasing the market price of the investee’s stock B. Dividends paid by the investee that were declared in the previous year C. Net loss of the investee company D. None of the above is correct. 17. If the fair value of equity securities is not determinable and the equity method is not appropriate, the securities should be reported at: A. Amortized cost. B. Cost. C. Consolidated value. D. Net present value. 18. On July 1, 2011, Tremen Corporation acquired 40% of the shares of Delany Company. Tremen paid $3,000,000 for the investment, and that amount is exactly equal to 40% of the fair value of identifiable net assets on Delany’s balance sheet. Delany recognized net income of $1,000,000 for 2011, and paid $150,000 quarterly dividends to its shareholders. After all closing entries are made, Tremen’s “Investment in Delany Company” account would have a balance of: A. $3,200,000. B. $3,160,000. C. $3,000,000. D. $3,080,000. 19. Jack Corporation purchased a 20% interest in Jill Corporation for $1,500,000 on January 1, 2011. Jack can significantly influence Jill. On December 10, 2011, Jill declared and paid $1 million in dividends. Jill reported a net loss of $6 million for the year. What amount of loss should Jack report in its income statement for 2011 relative to its investment in Jill? A. $1 000,000. B. $1,200,000. C. $1,400,000. D. $1,500,000. 20. Sox Corporation purchased a 40% interest in Hack Corporation for $1,500,000 on Jan 1, 2011. On November 1, 2011, Hack declared and paid $1 million in dividends. On December 31, Hack reported a net loss of $6 million for the year. What amount of loss should Sox report on its income statement for 2011 relative to its investment in Hack? A. $1,100,000. B. $2,400,000. C. $1,500,000. D. $1,600,000.

Nichols Company had 500 units of “Dink” in its inventory at

Nichols Company had 500 units of “Dink” in its inventory at a cost of $5 each. It purchased, for $2,400, 300 more units of “Dink”. Nichols then sold 600 units at a selling price of $10 each, resulting in a gross profit of $2,100. The cost flow assumption used by Kingman

I am using the following text book: Accounting (Tools for Business

I am using the following text book: Accounting (Tools for Business Decision Making 2nd Edition), I need the answer to problem 18-2A… ISBN: 10-0-470-08744-7 / ISBN: 13-978-0-470-08744-2

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