#1) The owners’ equity accounts for Trans World International are shown here: Common stock ($1 par value) $ 85,000 Capital surplus 227,000 Retained earnings 750,000 ________________________________________ ________________________________________ ________________________________________ ________________________________________ Total owners’ equity $ 1,062,000 ________________________________________________________________________________ ________________________________________________________________________________ ________________________________________________________________________________ ________________________________________________________________________________ ________________________________________ Requirement 1: Assume Trans World stock currently sells for $28 per share and a stock dividend of 20 percent is declared. (a) How many new shares will be distributed? New shares issued (b) Show the new balance for each equity account. Common stock $ Capital surplus Retained earnings ________________________________________ ________________________________________ ________________________________________ ________________________________________ Total owners’ equity $ ________________________________________________________________________________ ________________________________________________________________________________ ________________________________________________________________________________ ________________________________________________________________________________ ________________________________________ Requirement 2: Now assume that instead Trans World declares a stock dividend of 24 percent. (a) How many new shares will be distributed? New shares issued (b) Show the new balance for each equity account. Common stock $ Capital surplus Retained earnings ________________________________________ ________________________________________ ________________________________________ ________________________________________ Total owners’ equity $ ________________________________________________________________________________ ________________________________________________________________________________ ________________________________________________________________________________ ________________________________________________________________________________ #2) The company with the common equity accounts shown here has declared a 13 percent stock dividend at a time when the market value of its stock is $43 per share. Common stock ($1 par value) $ 470,000 Capital surplus 1,555,000 Retained earnings 3,878,000 ________________________________________ ________________________________________ Total owners’ equity $ 5,903,000 ________________________________________________________________________________ ________________________________________________________________________________ ________________________________________ Required: Show the new equity account balances after the stock dividend distribution. Common stock $ Capital surplus Retained earnings ________________________________________ Total owners’ equity $ ________________________________________________________________________________ ________________________________________

Q1. Accounting in the financial institutions has special characteristics compared to the non-financial institutions, discuss this statement and explain characteristics of balance sheets, income statement and cash flow statement in banks.

Q2. Regulations require banks to do detailed disclosure on the quality of assets, discuss this statement and explain the kind of disclosure on quality of loans done by banks working in Saudi Arabia.

Q3. In thrift banks in USA, the structure of income has been changed because the intermediation role is no longer the main source of income, discuss this statement and explain the structure of income of banks in Saudi Arabia.

Accounting for Financial Institution

According to the monetary approach to exchange rate determination, how would an increase in foreign real income affect the value of domestic currency? In your explanation, discuss both the quantity theory and PPP

1)What is Balance scorecard (BSC)?

2)Any differences of BSC from one university to another? Discuss why or why not.

3)If our vice-chancellor wants to improve the university’s goal and performance, what are the characteristics that he has to take to achieve the goals (base on BSC). Give specific examples.

The financial statements of Morgan Ltd appear below:

Morgan LTD

Comparative Statement of Financial Position

31 December 2018

________________________________________________________________________________________

Assets                                                                                                         2018                    2017   

Cash ..................................................................................................     $ 25,000              $ 40,000

Marketable securities ...........................................................................         15,000                 60,000

Accounts receivable (net) .....................................................................         50,000                 30,000

Inventory ............................................................................................       150,000                170,000

Property, plant and equipment (net) ......................................................       160,000                200,000

      Total assets ..................................................................................     $400,000              $500,000

Liabilities and equity

Accounts payable ................................................................................     $ 20,000              $ 30,000

Short-term notes payable .....................................................................         40,000                 90,000

Bonds payable ....................................................................................         80,000                160,000

Ordinary shares ..................................................................................       170,000                145,000

Retained earnings ...............................................................................         90,000                  75,000

      Total liabilities and equity................................................................     $400,000              $500,000

Morgan LTD

Income Statement

For the Year Ended 31 December 2018

Net sales ............................................................................................                                 $360,000

Cost of sales .......................................................................................                                   184,000

Gross profit .........................................................................................                                   176,000

Expenses

      Interest expense ............................................................................        $24,000

      Selling expenses ...........................................................................         30,000

      Administrative expenses ................................................................          20,000

            Total expenses ........................................................................                                     74,000

Profit before income taxes ...................................................................                                   102,000

Income tax expense ............................................................................                                     30,000

Profit ..................................................................................................                                 $ 72,000

Additional information:

a.     Cash dividends of $57,000 were declared and paid in 2018.

b.     Weighted-average number of shares of ordinary shares outstanding during 2018 was 60,000 shares.

c.     Market value of ordinary shares on 31 December 2018 was $18 per share.

d.     Net cash provided by operating activities for 2018 was $63,000.

Required

Using the financial statements and additional information, compute the following ratios for Morgan Ltd for 2018. Show all computations.

1.     Current ratio

2.     Return on ordinary shareholders’ equity

3.     Price-earnings ratio

4.     Acid-test/Quick ratio

5.     Receivables turnover

Statement of Cash Flows—Indirect Method

The comparative balance sheet of Merrick Equipment Co. for December 31, 20Y9 and 20Y8, is as follows:

Additional data obtained from an examination of the accounts in the ledger for 20Y9 are as follows:

1. Equipment and land were acquired for cash.
2. There were no disposals of equipment during the year.
3. The investments were sold for $81,060 cash.
4. The common stock was issued for cash.
5. There was a $64,270 credit to Retained Earnings for net income.
6. There was a $36,180 debit to Retained Earnings for cash dividends declared.

Required:

Prepare a statement of cash flows, using the indirect method of presenting cash flows from operating activities. Use the minus sign to indicate cash outflows, cash payments, decreases in cash, or any negative adjustments.

SawPro Company, owned and operated by Heather Moore, opened for business in 2015. The company sells a single model of commercial grade chain saws that it purchases from the manufacturer. Heather’s customers, primarily businesses offering landscaping and tree-services, purchase saws on account, with payment typically due within thirty-days.  

The following transactions occurred during the calendar year ending December 31, 2018:

1. Acquired equipment that automated sharpening chain saw blades. Instead of paying cash, Heather signed an agreement with a lease financing company. The equipment was delivered, installed, and ready for service on March 1, 2018. Terms of the lease require twenty-four equal monthly payments of $270, with the first payment due at signing on March 1st. The annual rate is 4.75 percent. Heather made all payments on the dates required. The fair value of the equipment is $6,500 with an expected service life of thirty months. Heather has the option to purchase the equipment for $250 at the end of the lease term; she expects to exercise that option. (Note: use the old rule percent’s to determine whether the lease is financing or operating).

Post a journal entry of this transaction!

Answer in ~ 600-700 words

Explain the Australian dividend imputation credit system and how it applies in Australia. Include an analysis of how the receipt of franking credits will result in differing returns for Australian resident and international investors.

Select a large U.S. public corporation you are familiar with or which interests you. It should be on the Fortune 500 list. Using the company's most recent annual report (or Form 10-K) from the company's Investor Relations web page and other credible internet sources, develop a short (1.5 to 2 page) profile of the corporation. Obtain and attach a PDF version of the most recent annual report (or Form 10-K) from the company's web site. Include the following information:

1. Name of the corporation and location of corporate headquarters.
2. State of incorporation.
3. The stock exchange on which the company's stock is traded.
4. Nature of its operations.
5. The fiscal year end date of the annual report you used.
6. Total assets on the balance sheet.
7. Total revenues on the recent income statement.
8. Net income on the income statement.
9. The basic earnings per share reported on the recent income statement.
10. The depreciation method used by the corporation.
11. The inventory method used by the corporation. If the company does not report inventory on its balance sheet, state that in your report.
12. Description of classes of stock (e.g. common, preferred, Class A, etc.) and the number of shares authorized, issued and outstanding for each class, from the balance sheet or notes.
13. Market price of the stock on 1/31/19 (Yahoo finance or other stock quote site).
14. High and low prices of stock for the past 12 months (Yahoo finance or other stock quote site).
15. Dividends paid for each of share of stock during the year covered by the annual report from the income statement or notes.
16. The name of the Registered Public Accounting Firm who audited the company's financial statements.
17. Discuss something that you found interesting in the annual report, that you didn't know before.
18. If you had $10,000 to invest, would you invest in the stock of the corporation you chose. Provide your opinion and support your opinion with evidence from your research.

Please include the links for the cited info, annual report & try to do a more recent report.

Schrader Cellars uses the FIFO method in its two department process costing system: Fermenting (grape sorting is part of the fermentation process) and Packaging. Direct materials (grapes) are added at the beginning of the fermenting process and at the end of the packaging process (bottles). Conversion costs are added evenly throughout each process. Data from the month of december for the Fermenting Department are below:

Beginning work in process inventory:

            Units in beginning work in process inventory            3,000 gallons

            Materials costs                                                            $122,000

            Conversion costs                                                         $7,000

            Percentage complete with respect to materials           100%

            Percentage complete with respect to conversion        50%

Units started into production during the month                      5,000 gallons

Materials costs added during the month                                 $250,000

Conversion costs added during the month                             $30,000

Ending work in process inventory:

            Units in ending work in process                                 2,000 gallons

            Percentage complete with respect to materials           100%

            Percentage complete with respect to conversion        75%

REQUIRED:

1. Prepare a FIFO production report for the Fermentation Department for Schrader Cellars for the month ended December 31, 2018.

Schrader Cellars uses the FIFO method in its two department process costing system: Fermenting (grape sorting is part of the fermentation process) and Packaging. Direct materials (grapes) are added at the beginning of the fermenting process and at the end of the packaging process (bottles). Conversion costs are added evenly throughout each process. Data from the month of december for the Fermenting Department are below:

Beginning work in process inventory:

            Units in beginning work in process inventory            3,000 gallons

            Materials costs                                                            $122,000

            Conversion costs                                                         $7,000

            Percentage complete with respect to materials           100%

            Percentage complete with respect to conversion        50%

Units started into production during the month                      5,000 gallons

Materials costs added during the month                                 $250,000

Conversion costs added during the month                             $30,000

Ending work in process inventory:

            Units in ending work in process                                 2,000 gallons

            Percentage complete with respect to materials           100%

            Percentage complete with respect to conversion        75%

REQUIRED:

1. Prepare a FIFO production report for the Fermentation Department for Schrader Cellars for the month ended December 31, 2018.

If you desire to have $5,000,000 in your retirement account at the age of 65, how much must you invest each year, if you start investing at the age of 25, 35, and 45. Assuming you can earn an average annual return of 8%.

A company is manufacturing building bricks and fire bricks. Both production require two processes. Brick forming and Heat treatment. The requirements for the two bricks are:

Require:

Prepare statement of manufacturing costs for the two types of bricks.

Explain the types of Intangible Assets.