Atlas Enterprises Inc. manufactures elliptical exercise machines and treadmills. The products are produced in its Fabrication and Assembly production departments. In addition to production activities, several other activities are required to produce the two products. These activities and their associated activity rates are as follows:

The activity-base usage quantities and units produced for each product were as follows:

Use the activity rate and usage information to calculate the total activity cost and activity cost per unit for each product. If required, round the per unit answers to the nearest cent.

Post to T accounts

The following transactions for The Reds Co. in 2000:

2/1 deposited in the bank $50,000 as Capital

4/1 furniture bought to use in store for $6,500 paid by cheque.

10/1 bought good on Credit from alwatan Co. at a cost of $8,000.

15/1 goods were sold for $1,500 in cash

16/1 goods were sold to Mohammad for $600 received a cheque

18/1 sales for $800 in cash

20/1 $2,000 were deposited in the business bank account

25/1 $5,000 were paid back in cheque to alwatan Co.

26/1 good were sold to Alahly Club for $2,300 on credit

27/1 goods were sold to Mohammad for $1,200 on credit

28/1 all money is received from Alahly Club in cash

30/1 500$ were paid as salaries to worker in the store by cheque

31/1 the store paid $650 by cheque as rent for the store

Dividends Per Share Seventy-Two Inc., a developer of radiology equipment, has stock outstanding as follows: 80,600 shares of cumulative preferred 3% stock, $15 par, and 398,300 shares of $23 par common. During its first four years of operations, the following amounts were distributed as dividends: first year, $56,900 ; second year, $77,100 ; third year, $80,900 ; fourth year, $99,500 . Calculate the dividends per share on each class of stock for each of the four years. Round all answers to two decimal places. If no dividends are paid in a given year, enter "0". 1st Year 2nd Year 3rd Year 4th Year Preferred stock (dividends per share) $ 0.45 $ 0.45 $ 0.45 $ 0.45 Common stock (dividends per share) $ $ $ $

But when it comes to the non-profit versus for-profit business how do they compare? Your assignment is to analyze this using a comparison format. Let’s see which side you are on. In 500 words or more, answer the questions listed below. How do their objectives differ? How do they generate revenue? How do they control and report expenses/expenditures? How do they measure and report profit? How is equity and ownership reported? Reflect on your future career goals as an accountant. It is obvious that both non-profit and for-profit businesses need accountants; but, how does their focus and job differ? Do non-profit businesses pay competitively to for-profit businesses? Now that you have compared the two business types and the role accountants play along with their compensation, where do you see yourself fitting and why?

Please give me some idea about this blog question:

It is important to understand and analyze a country’s political system before entering that market. Is it more important for a political system to be stable, or is it more important for it to be transparent?

144) Calculate the cash proceeds from the following issuances of bonds. All situations are independent of each other and all the bond issuances pay interest annually.

Note: present value tables required.

a) $100,000, five-year, 10% bonds issued when the market rate is 8% b)$50,000, 10-year, 8% bonds issued when the market rate is 12% c) $200,000, 10-year, 9% bonds issued when the market rate is $12% d) $100,000, five-year, 12% bonds issued when the market rate is 8%

145) Warren Corporation signs an agreement on January 2, 2010, to lease delivery equipment for a five-year period. The current market value of the delivery equipment on January 2, 2010, is $225,000. The lease agreement calls for annual payments of $50,040. The first payment is made on January 2, 2010, all other payments are made on December 31 of each year. The lease agreement calls for an 8% interest rate. The estimated remaining life of the delivery equipment is six years. Ownership of the delivery equipment will transfer to Warren Corporation at the end of the lease term.

Note: present value tables required.

a) Prepare the journal entry on January 2, 2010, to record the lease agreement and make the first lease payment. b) Prepare the entry on December 31, 2010, to record the second lease payment and the accrual of interest.

Build a pivot table which calculates the average and maximum sales by department

You will have to combine the data using VLOOKUP or MATCH/INDEX. Note any observations you see regarding trends in the results.

Use the data below to solve the problem. List steps and directions step by step with any formulas, what has been clicked on, and any other important information to solve the problem using Excel. Thank you.

The Companies Act 2016 repealed the Companies Act 1965 and changed the landscape of company law in Malaysia. The Companies Act 2016 reformed almost all aspects of company law in Malaysia.

Required:

By referring to the Companies Act 2016, insert the correct sections in column (A) for each description in column B.
4


Column A Column B Example: Section 3 Corporation refers to any body corporate formed or incorporated or existing in Malaysia or outside Malaysia.
Other than companies limited by guarantee, a company may / may not has a constitution. A private company has notmore than 50 shareholders.
Preference shares may be redeemed out of profit; a fresh issues of shares or capital of company. All ordinary shares now carry no par value. The directors will make calls on unpaid shares at a fixed date.
Any shareholders fail to pay any calls within stipulated time, the company has the right to forfeit the shares
A company should states in its constitution the voting rights of different classes of shares.
The company can only make a distribution to the shareholders out of profits if the company is solvent.
A prospectus can only be circulated after the prospectus has been lodged with Registrar.
Shares can’t be allotted unless minimum subscription and application payable have been received.
A shareholder of company limited by shares has liability limited to any amount unpaid on a share held by him. A private company must have at least one director.
Subsidiaries’ financial year end must coincide with the holding company.
If any subsidiaries are not being consolidated, the directors of the company should disclose in notes the reason for not consolidate the subsidiaries.
Annual general meeting should be held within 6 months after the financial year end. Every resolution should be kept for seven years. [

Problem 11-48 Step Method with Three Service Depagrtments (LO 11-3)

Model, Inc., produces model automobiles made from metal. It operates two production departments, Molding and Painting, and has three service departments, Administration, Accounting, and Maintenance. The accumulated costs in the three service departments were $255,000, $416,000, and $191,000, respectively. Management is concerned that the costs of its service departments are getting too high. In particular, managers would like to keep the costs of service departments under $3.50 per unit on average. You have been asked to allocate service department costs to the two production departments and compute the unit costs.

The company decided that Administration costs should be allocated on the basis of square footage used by each production and service department. Accounting costs are allocated on the basis of number of employees. Maintenance costs are allocated on the basis of the dollar value of the equipment in each department. The use of each base by all departments during the current period follows:  
  

The Williams Company, a U.S.-based company, owns 100% of a European Subsidiary (ES). The investment in ES totals $10 million (euros 13.5 million) as of the end of Year 1. This represents an initial investment of $6 million and retained earnings of $4 million. The Currency Translation Adjustment (CTA) account included in Other Comprehensive Income (OCI) totals $1 million (loss) at the end of Year 1.

During Year 2, Williams decided to sell 25% of ES to the Tremont Company, an unrelated U.S.-based Company for $15 million in cash. The closing date of the transaction is June 30 of Year 2. Earnings of ES for the six months of Year 2 are $1 million and there was an additional increase of $200,000 in the CTA during the first six months of Year 2. No dividends have been paid by ES to Williams.

Instructions:

1. Calculate the gain or the loss on the partial disposal by Williams of ES as of June 30, Year 2, under both the US GAAP and IFRS. Make sure you show the details of both calculations and provide authoritative references supporting the basis and the reasoning for each of your calculations.
2. Assume that during January Year 2, ES paid a dividend to Williams of euro 6.75 million ($5 million). How would that dividend be treated by Williams under both the US GAAP and IFRS? What impact, if any, would this dividend have on the CTA account of Williams under both the US GAAP and IFRS? Make sure you show the details of any calculations and provide authoritative references supporting the basis and the reasoning for each of your calculations, if any.
3. Assume that Williams’s investment in ES totals $6 million, the amount of the original investment. ES had not made any money since being formed by Williams as of December 31, Year 1, management has decided to sell ES, and to evaluate ES for any impairment charge in its Year 1 financial statements. The CTA totals $1 million at the end of Year 1. How would the evaluation of ES differ under the US GAAP and IFRS? Make sure you show the details of any calculations supported by authoritative references when answering this question.

• Your submission should be a minimum of 3 pages in length, not including the required cover and reference pages. Longer submissions are permissible.

EXAMPLE:

G.A. Courtney & Sons build homes.  Each home is considered a job; costs are accumulated by job to determine the final cost of a home. The company builds two types of homes. Standard models are framed at factory using high-tech machinery and take little direct labor to complete. Custom homes are framed and finished at the building site using mostly direct labor and few machine hours. Annual estimates for each department follow:

During the year, five jobs were started and completed. Jobs #101 and #103 were custom homes.  The remaining jobs were standard models. Direct materials (DM), direct labor (DL), direct labor hours (DLH), and machine hours (MH) for each job follow:

REQUIRED:

(1)        Calculate the predetermined overhead rate (POR) using:

(a)        A single, plantwide cost pool and DLH as the application base.

(b)        Separate total overhead amounts for each department (one total for framing and one for finishing). Use MH as the application base for framing and DLH for finishing.

(2)        Use the following format to calculate:

            (a)        The total costs of each job using the single, plantwide POR (from                                                      (1)(a) above).   

(b)        The total costs of all jobs using the single, plantwide POR (from (1)(a) above).

Note: the “totals” line item at the bottom of the table satisfy this requirement.

(3)        Use the following format to calculate:

(a)        The total costs of each job using the two departmental (framing and finishing) PORs (from (1)(b) above).

(b)        The total costs of all jobs using the two departmental (framing and finishing) PORs (from (1)(b) above)

Note: the “totals” line item at the bottom of the table satisfy this requirement.

48. LO.3 During the year (not a leap year), Anna rented her vacation home for 30 days, used it personally for 20 days, and left it vacant for 315 days. She had the following income and expenses: Rent income $ 7,000 Expenses  Real estate taxes 2,500  Interest on mortgage 9,000  Utilities 2,400  Repairs 1,000  Roof replacement (a capital expenditure) 12,000  Depreciation 7,500 1. Compute Anna’s net rent income or loss and the amounts she can itemize on her tax return, using the court’s approach to allocating property taxes and interest. 2. How would your answer in part (a) differ using the IRS’s method of allocating property taxes and interest?

49. LO.3 How would your answer to Problem 48 differ if Anna had rented the house for 87 days and had used it personally for 13 days?

**Please fill out the chart post at the bottom and please do not copy and paste a previous answer that has been used on CHegg.

Lehighton Chalk Company manufactures sidewalk chalk, which it sells online by the box at $24 per unit. Lehighton uses an actual costing system, which means that the actual costs of direct material, direct labor, and manufacturing overhead are entered into work-in-process inventory. The actual application rate for manufacturing overhead is computed each year; actual manufacturing overhead is divided by actual production (in units) to compute the application rate. Information for Lehighton’s first two years of operation is as follows:

Selected information from Lehighton’s year-end balance sheets for its first two years of operation is as follows:

Prepare a numerical reconciliation of the difference in income reported under the two costing methods used in requirements (1) and (2).

On November 1, 2018, Kris Lehman established an interior decorating business, Modern Designs. During the month, Kris completed the following transactions related to the business:

Enter the following transactions on Page 2 of the two-column journal:

******Question

The following schedule of information relates to Lumos, Inc. for the year ended December 31, 2017:

The company’s balance sheet reports the following:

The company’s 2017 income statement reports the following:

Required:

Provide the following amounts that would appear on an indirect method statement of cash flows for December 31, 2017 for Lumos, Inc.:

a. Net cash provided (used) by operating activities: _____________________

            b. Net cash provided (used) by investing activities: _____________________

            c. Net cash provided (used) by financing activities: _____________________