The Kingbird, Inc. opened on April 1. All facilities were completed on March 31. At this time, the ledger showed No. 101 Cash $7,360, No. 140 Land $10,640, No. 145 Buildings (concession stand, projection room, ticket booth, and screen) $6,640, No. 157 Equipment $7,360, No. 201 Accounts Payable $3,360, No. 275 Mortgage Payable $8,640, and No. 311 Common Stock $20,000. During April, the following events and transactions occurred.

In addition to the accounts identified above, the chart of accounts shows No. 112 Accounts Receivable, No. 136 Prepaid Rent, No. 400 Service Revenue, No. 429 Rent Revenue, No. 610 Advertising Expense, No. 726 Salaries and Wages Expense, and No. 729 Rent Expense.

a. Enter the beginning balances in the ledger as of April 1.

b. Journalize the April transactions. Kingbird, Inc. records admission revenue as service revenue, rental of the concession stand as rent revenue, and film rental expense as rent expense. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. Record journal entries in the order presented in the problem. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.)

c. Post the April journal entries to the ledger. (Post entries in the order of journal entries presented in the previous part.)

d. Prepare a trial balance on April 30, 2019.

Department G had 2,040 units 25% completed at the beginning of the period, 12,800 units were completed during the period, 1,700 units were 20% completed at the end of the period, and the following manufacturing costs debited to the departmental work in process account during the period: Work in process, beginning of period $30,000 Costs added during period: Direct materials (12,460 units at $9) 112,140 Direct labor 76,800 Factory overhead 25,600 All direct materials are placed in process at the beginning of production and the first-in, first-out method of inventory costing is used. What is the total cost of the departmental work in process inventory at the end of the period (round unit cost calculations to four decimal places and round your final answer to the nearest dollar)? a. $17,367 b. $23,473 c. $18,056 d. $15,300

On January 1, 20X7, Pepper Company acquired 90 percent of the outstanding common stock of Salt Corporation for $1,242,000. On that date, the fair value of noncontrolling interest was equal to $138,000. The entire differential was related to land held by Salt. At the date of acquisition, Salt had common stock outstanding of $520,000, additional paid-in capital of $200,000, and retained earnings of $540,000. During 20X7, Salt sold inventory to Pepper for $440,000. The inventory originally cost Salt $360,000. By year-end, 30 percent was still in Pepper's ending inventory. During 20X8, the remaining inventory was resold to an unrelated customer. Both Pepper and Salt use perpetual inventory systems.

Income and dividend information for both Pepper and Salt for 20X7 and 20X8 are as follows:

Assume Pepper uses the fully adjusted equity method to account for its investment in Salt.

Required:
a. Present the worksheet consolidation entries necessary to prepare consolidated financial statements for 20X7.
b. Present the worksheet consolidation entries necessary to prepare consolidated financial statements for 20X8.

1. Billy McMahon is interested in buying a waterfront condo and has saved $100,000 for the down payment. His plans call for making additional monthly deposits into an investment account over the next 36 months. Billy McMahon wants to make the purchase 48 months from today and wants to have $180,000 saved up for the down payment.
   1. What is the amount of each of the additional payments he must make for his plan to work out?   Assume Billy can earn 2% annual return in his investment account.
   2. If Billy takes out a 30-year, $720,000 mortgage at 4%, what will his mortgage payments be?
   3. Prepare an amortization schedule to prove that your answer is right and his mortgage will be paid off in 30 years.
   4. Assume he pays an additional $800 towards his mortgage each month. How much sooner will he be able to pay off her mortgage?
   5. Prepare an amortization schedule proving your answer in

Could anyone explain how changing accounts payable and increasing revenues changes the debt/equity ratio?

On January 1, 20X7, Pepper Company acquired 90 percent of the outstanding common stock of Salt Corporation for $1,242,000. On that date, the fair value of noncontrolling interest was equal to $138,000. The entire differential was related to land held by Salt. At the date of acquisition, Salt had common stock outstanding of $520,000, additional paid-in capital of $200,000, and retained earnings of $540,000. During 20X7, Salt sold inventory to Pepper for $440,000. The inventory originally cost Salt $360,000. By year-end, 30 percent was still in Pepper's ending inventory. During 20X8, the remaining inventory was resold to an unrelated customer. Both Pepper and Salt use perpetual inventory systems.

Income and dividend information for both Pepper and Salt for 20X7 and 20X8 are as follows:

Assume Pepper uses the fully adjusted equity method to account for its investment in Salt.

Required:
a. Present the worksheet consolidation entries necessary to prepare consolidated financial statements for 20X7.
b. Present the worksheet consolidation entries necessary to prepare consolidated financial statements for 20X8.

What are the characteristics of a good partner in a strategic alliance? Why do these partner traits help make a strategic alliance successful?

no Plagiarism please I need some help thank you please do not use the answer already on this site those two answers not make any sense to me and can you please make sure it's clear and concise I have a really bad eyes thank you

1. Tamarisk Corporation has outstanding 125,000 shares of $10 par value common stock. The corporation declares the following stock dividends when the fair value of the stock is $65 per share.
   
   Prepare the journal entries for Tamarisk Corporation for both the date of declaration and the date of distribution.
   

1. Stock dividend is 15%
2. Stock dividend is 70%

Andretti Company has a single product called a Dak. The company normally produces and sells 120,000 Daks each year at a selling price of $50 per unit. The company’s unit costs at this level of activity are given below:

A number of questions relating to the production and sale of Daks follow. Each question is independent.

Required:

1-a. Assume that Andretti Company has sufficient capacity to produce 156,000 Daks each year without any increase in fixed manufacturing overhead costs. The company could increase its unit sales by 30% above the present 120,000 units each year if it were willing to increase the fixed selling expenses by $110,000. What is the financial advantage (disadvantage) of investing an additional $110,000 in fixed selling expenses?

1-b. Would the additional investment be justified?

2. Assume again that Andretti Company has sufficient capacity to produce 156,000 Daks each year. A customer in a foreign market wants to purchase 36,000 Daks. If Andretti accepts this order it would have to pay import duties on the Daks of $3.70 per unit and an additional $18,000 for permits and licenses. The only selling costs that would be associated with the order would be $2.10 per unit shipping cost. What is the break-even price per unit on this order?

3. The company has 800 Daks on hand that have some irregularities and are therefore considered to be "seconds." Due to the irregularities, it will be impossible to sell these units at the normal price through regular distribution channels. What is the unit cost figure that is relevant for setting a minimum selling price?

4. Due to a strike in its supplier’s plant, Andretti Company is unable to purchase more material for the production of Daks. The strike is expected to last for two months. Andretti Company has enough material on hand to operate at 25% of normal levels for the two-month period. As an alternative, Andretti could close its plant down entirely for the two months. If the plant were closed, fixed manufacturing overhead costs would continue at 40% of their normal level during the two-month period and the fixed selling expenses would be reduced by 20% during the two-month period.

a. How much total contribution margin will Andretti forgo if it closes the plant for two months?

b. How much total fixed cost will the company avoid if it closes the plant for two months?

c. What is the financial advantage (disadvantage) of closing the plant for the two-month period?

d. Should Andretti close the plant for two months?

5. An outside manufacturer has offered to produce 120,000 Daks and ship them directly to Andretti’s customers. If Andretti Company accepts this offer, the facilities that it uses to produce Daks would be idle; however, fixed manufacturing overhead costs would be reduced by 30%. Because the outside manufacturer would pay for all shipping costs, the variable selling expenses would be only two-thirds of their present amount. What is Andretti’s avoidable cost per unit that it should compare to the price quoted by the outside manufacturer?

Superior Markets, Inc., operates three stores in a large metropolitan area. A segmented absorption costing income statement for the company for the last quarter is given below:

The North Store has consistently shown losses over the past two years. For this reason, management is giving consideration to closing the store. The company has asked you to make a recommendation as to whether the store should be closed or kept open. The following additional information is available for your use:

1. The breakdown of the selling and administrative expenses that are shown above is as follows:

*Allocated on the basis of sales dollars.

*Allocated on the basis of sales dollars.

2. The lease on the building housing the North Store can be broken with no penalty.

3. The fixtures being used in the North Store would be transferred to the other two stores if the North Store were closed.

4. The general manager of the North Store would be retained and transferred to another position in the company if the North Store were closed. She would be filling a position that would otherwise be filled by hiring a new employee at a salary of $13,200 per quarter. The general manager of the North Store would continue to earn her normal salary of $14,200 per quarter. All other managers and employees in the North store would be discharged.

5. The company has one delivery crew that serves all three stores. One delivery person could be discharged if the North Store were closed. This person’s salary is $5,700 per quarter. The delivery equipment would be distributed to the other stores. The equipment does not wear out through use, but does eventually become obsolete.

6. The company pays employment taxes equal to 15% of their employees' salaries.

7. One-third of the insurance in the North Store is on the store’s fixtures.

8. The “General office salaries” and “General office—other” relate to the overall management of Superior Markets, Inc. If the North Store were closed, one person in the general office could be discharged because of the decrease in overall workload. This person’s compensation is $7,100 per quarter.

Required:

1. How much employee salaries will the company avoid if it closes the North Store?

2. How much employment taxes will the company avoid if it closes the North Store?

3. What is the financial advantage (disadvantage) of closing the North Store?

4. Assuming that the North Store's floor space can’t be subleased, would you recommend closing the North Store?

5. Assume that the North Store's floor space can’t be subleased. However, let's introduce three more assumptions. First, assume that if the North Store were closed, one-fourth of its sales would transfer to the East Store, due to strong customer loyalty to Superior Markets. Second, assume that the East Store has enough capacity to handle the increased sales that would arise from closing the North Store. Third, assume that the increased sales in the East Store would yield the same gross margin as a percentage of sales as present sales in the East store. Given these new assumptions, what is the financial advantage (disadvantage) of closing the North Store?

1. Cheyenne Corp. had $120,000 of 8%, $20 par value preferred stock and 15,000 shares of $5 par value common stock outstanding throughout 2018.  No dividends were paid in 2016 or 2017. Determine the dividend amount that should go to common and preferred shareholders for the following scenarios.

1. Assuming that total dividends declared in 2018 were $70,000, and that the preferred stock is not cumulative and is not participating.
   Common Shareholders’ Dividends
   Preferred Shareholders’ Dividends
   
2. Assuming that total dividends declared in 2018 were $70,000, and that the preferred stock is cumulative and is not participating.
   Common Shareholders’ Dividends
   Preferred Shareholders’ Dividends
   
3. Assuming that total dividends declared in 2018 were $70,000, and that the preferred stock is not cumulative and is fully participating.
   Common Shareholders’ Dividends
   Preferred Shareholders’ Dividends
   

d. Assuming that total dividends declared in 2018 were $70,000, and that the preferred stock is cumulative and is fully participating.
Common Shareholders’ Dividends
Preferred Shareholders’ Dividends

Padre, Inc., buys 80 percent of the outstanding common stock of Sierra Corporation on January 1, 2018, for $771,200 cash. At the acquisition date, Sierra’s total fair value, including the noncontrolling interest, was assessed at $964,000 although Sierra’s book value was only $614,000. Also, several individual items on Sierra’s financial records had fair values that differed from their book values as follows:

For internal reporting purposes, Padre, Inc., employs the equity method to account for this investment. The following account balances are for the year ending December 31, 2018, for both companies.

At year-end, there were no intra-entity receivables or payables.

Using the acquisition method, prepare the worksheet to consolidate these two companies. (For accounts where multiple consolidation entries are required, combine all debit entries into one amount and enter this amount in the debit column of the worksheet. Similarly, combine all credit entries into one amount and enter this amount in the credit column of the worksheet. Amounts in the Debit and Credit columns should be entered as positive. Negative amounts for the Noncontrolling Interest and Consolidated Totals columns should be entered with a minus sign.)

Financial data for Joel de Paris, Inc., for last year follow:

The company paid dividends of $210,400 last year. The “Investment in Buisson, S.A.,” on the balance sheet represents an investment in the stock of another company. The company's minimum required rate of return of 15%.

Required:

1. Compute the company's average operating assets for last year.

2. Compute the company’s margin, turnover, and return on investment (ROI) for last year. (Do not round intermediate calculations and round your final answers to 2 decimal places.)

3. What was the company’s residual income last year?

“I know headquarters wants us to add that new product line,” said Dell Havasi, manager of Billings Company’s Office Products Division. “But I want to see the numbers before I make any move. Our division’s return on investment (ROI) has led the company for three years, and I don’t want any letdown.”

Billings Company is a decentralized wholesaler with five autonomous divisions. The divisions are evaluated on the basis of ROI, with year-end bonuses given to the divisional managers who have the highest ROIs. Operating results for the company’s Office Products Division for this year are given below:

The company had an overall return on investment (ROI) of 16.00% this year (considering all divisions). Next year the Office Products Division has an opportunity to add a new product line that would require an additional investment that would increase average operating assets by $2,450,000. The cost and revenue characteristics of the new product line per year would be:

Required:

1. Compute the Office Products Division’s ROI for this year.

2. Compute the Office Products Division’s ROI for the new product line by itself.

3. Compute the Office Products Division’s ROI for next year assuming that it performs the same as this year and adds the new product line.

4. If you were in Dell Havasi’s position, would you accept or reject the new product line?

5. Why do you suppose headquarters is anxious for the Office Products Division to add the new product line?

6. Suppose that the company’s minimum required rate of return on operating assets is 13% and that performance is evaluated using residual income.

a. Compute the Office Products Division’s residual income for this year.

b. Compute the Office Products Division’s residual income for the new product line by itself.

c. Compute the Office Products Division’s residual income for next year assuming that it performs the same as this year and adds the new product line.

d. Using the residual income approach, if you were in Dell Havasi’s position, would you accept or reject the new product line?