Please Answer All of Them Please !

1. Presented below is the stockholders' equity section of Coronado Industries at December 31, 2020:

During 2021, the following transactions occurred relating to stockholders' equity:

2900 shares were reacquired at $28 per share.
3400 shares were reacquired at $35 per share.
1700 shares of treasury stock were sold at $31 per share.

For the year ended December 31, 2021, Coronado reported net income of $449000. Assuming Coronado accounts for treasury stock under the cost method, what should it report as total stockholders' equity on its December 31, 2021, balance sheet?

2. Sheridan Company, has 4150000 shares of common stock outstanding on December 31, 2020. An additional 809000 shares of common stock were issued on April 1, 2021, and 410000 more on July 1, 2021. On October 1, 2021, Sheridan issued 19100, $1,000 face value, 8% convertible bonds. Each bond is convertible into 20 shares of common stock. No bonds were converted into common stock in 2021. What is the number of shares to be used in computing basic earnings per share and diluted earnings per share, respectively?

Using the financial statements for the Snider Corporation, calculate the 13 basic ratios found in the chapter.   
   

*Includes $37,300 in lease payments.

Using the above financial statements for the Snider Corporation, calculate the following ratios.

a. Profitability ratios. (Do not round intermediate calculations. Input your answers as a percent rounded to 2 decimal places.)
  

b. Assets utilization ratios. (Do not round intermediate calculations. Round your answers to 2 decimal places.)
   

c. Liquidity ratios. (Do not round intermediate calculations. Round your answers to 2 decimal places.)
  

d. Debt utilization ratios. (Do not round intermediate calculations. Input your debt to total assets answer as a percent rounded to 2 decimal places. Round your other answers to 2 decimal places.)
  

Problem 10A-10 Comprehensive Standard Cost Variances [LO10-1, LO10-2, LO10-3, LO10-4] "Wonderful! Not only did our salespeople do a good job in meeting the sales budget this year, but our production people did a good job in controlling costs as well,” said Kim Clark, president of Martell Company. “Our $20,825 overall manufacturing cost variance is only .5% of the $4,165,000 standard cost of products made during the year. That's well within the 3% parameter set by management for acceptable variances. It looks like everyone will be in line for a bonus this year." The company produces and sells a single product. The standard cost card for the product follows: Inputs (1) Standard Quantity or Hours (2) Standard Price or Rate Standard Cost (1) × (2) Direct materials 3.50 feet $ 4.30 per foot $ 15.05 Direct labor 2.2 hours $ 9 per hour 19.80 Variable overhead 2.2 hours $ 2.20 per hour 4.84 Fixed overhead 2.2 hours $ 4.50 per hour 9.90 Total standard cost per unit $ 49.59 The following additional information is available for the year just completed: The company manufactured 20,000 units of product during the year. A total of 69,000 feet of material was purchased during the year at a cost of $4.50 per foot. All of this material was used to manufacture the 20,000 units produced. There were no beginning or ending inventories for the year. The company worked 45,500 direct labor-hours during the year at a direct labor cost of $8.85 per hour. Overhead is applied to products on the basis of standard direct labor-hours. Data relating to manufacturing overhead costs follow: Denominator activity level (direct labor-hours) 40,000 Budgeted fixed overhead costs $ 180,000 Actual variable overhead costs incurred $ 113,750 Actual fixed overhead costs incurred $ 177,100 Required: 1. Compute the materials price and quantity variances for the year. 2. Compute the labor rate and efficiency variances for the year. 3. For manufacturing overhead compute: a. The variable overhead rate and efficiency variances for the year. b. The fixed overhead budget and volume variances for the year. (For all requirements, indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Input all amounts as positive values.)

Renew Energy Ltd. (REL) manufactures and sells directly to customers a special long-lasting rechargeable battery for use in digital electronic equipment. Each battery sold comes with a guarantee that the company will replace free of charge any battery that is found to be defective within six months from the end of the month in which the battery was sold. On June 30, 2020, the Warranty Liability account had a balance of $45,000, but by December 31, 2020, this amount had been reduced to $5,000 by charges for batteries returned.

REL has been in business for many years and has consistently experienced an 7% return rate. However, effective October 1, 2020, because of a change in the manufacturing process, the rate increased to a total of 9%. Each battery is stamped with a date at the time of sale so that REL has developed information on the likely pattern of returns during the six-month period, starting with the month following the sale. (Assume no batteries are returned in the month of sale.)

For example, for January sales, 20% of the returns are expected in February, 30% in March, and so on. Sales of these batteries for the second half of 2020 were:

REL’s warranty also covers the payment of the freight cost on defective batteries returned and on new batteries sent as replacements. This freight cost is 10% of the sales price of the batteries returned. The manufacturing cost of a battery is roughly 60% of its sales price, and the salvage value of the returned batteries averages 14% of the sales price. Assume that REL follows IFRS and that it uses the expense approach to account for warranties.

Calculate the warranty expense that will be reported for the July 1 to December 31, 2020 period.

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Calculate the amount of the accrual that you would expect in the Warranty Liability account as at December 31, 2020, based on the above likely pattern of returns.

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Would your answer to any of the above situations change if REL followed ASPE?

Choose the answer from the menu in accordance to the question statement                                                                      YesNo

For December 31, 20X1, the balance sheet of Baxter Corporation was as follows:
  

Sales for 20X2 were $320,000, and the cost of goods sold was 50 percent of sales. Selling and administrative expense was $32,000. Depreciation expense was 8 percent of plant and equipment (gross) at the beginning of the year. Interest expense for the notes payable was 10 percent, while the interest rate on the bonds payable was 12 percent. This interest expense is based on December 31, 20X1 balances. The tax rate averaged 40 percent.

$4,000 in preferred stock dividends were paid, and $7,000 in dividends were paid to common stockholders. There were 10,000 shares of common stock outstanding.

During 20X2, the cash balance and prepaid expenses balances were unchanged. Accounts receivable and inventory increased by 10 percent. A new machine was purchased on December 31, 20X2, at a cost of $55,000.

Accounts payable increased by 25 percent. Notes payable increased by $8,000 and bonds payable decreased by $20,000, both at the end of the year. The preferred stock, common stock, and capital paid in excess of par accounts did not change.
  
a. Prepare an income statement for 20X2. (Round EPS answer to 2 decimal places.)
  

  
b. Prepare a statement of retained earnings for 20X2.
  

  
c. Prepare a balance sheet as of December 31, 20X2. (Amounts to be deducted should be indicated with parentheses or a minus sign.)
  

Consider a 5-year project with an initial fixed asset investment of $324,000, straight-line depreciation to zero over the project's life, a zero salvage value, a selling price of $34, variable costs of $17, fixed costs of $189,700, a sales quantity of 94,000 units, and a tax rate of 21 percent. What is the sensitivity of OCF to changes in the sales price?

• $59,470 per $1 of sales

• $61,600 per $1 of sales

• $78,700 per $1 of sales

• $74,260 per $1 of sales

• $68,850 per $1 of sales

Required:
Prepare a complete statement of cash flows using a spreadsheet; report its operating activities using the indirect method. (Enter all amounts as positive values.)

Please use the indirect method

Required information

Use the following information for the Problems below.

[The following information applies to the questions displayed below.]

Forten Company, a merchandiser, recently completed its calendar-year 2017 operations. For the year, (1) all sales are credit sales, (2) all credits to Accounts Receivable reflect cash receipts from customers, (3) all purchases of inventory are on credit, (4) all debits to Accounts Payable reflect cash payments for inventory, and (5) Other Expenses are paid in advance and are initially debited to Prepaid Expenses. The company’s income statement and balance sheets follow.

Problem 12-4AA Indirect: Cash flows spreadsheet LO P1, P2, P3, P4

Additional Information on Year 2017 Transactions

1. Net income was $114,575.
2. Accounts receivable increased.
3. Inventory increased.
4. Prepaid expenses decreased.
5. Accounts payable decreased.
6. Depreciation expense was $21,750.
7. Sold equipment costing $49,875, with accumulated depreciation of $31,125, for $12,625 cash. This yielded a loss of $6,125.
8. Purchased equipment costing $97,375 by paying $32,000 cash and (i.) by signing a long-term note payable for the balance.
9. Borrowed $4,100 cash by signing a short-term note payable.
10. Paid $50,625 cash to reduce the long-term notes payable.
11. Issued 2,600 shares of common stock for $20 cash per share.
12. Declared and paid cash dividends of $50,300.

Required information Comprehensive Problem 8-85 (LO 8-1, LO 8-2, LO 8-3, LO 8-4, LO 8-5) [The following information applies to the questions displayed below.] John and Sandy Ferguson got married eight years ago and have a seven-year-old daughter, Samantha. In 2018, John worked as a computer technician at a local university earning a salary of $152,000, and Sandy worked part-time as a receptionist for a law firm earning a salary of $29,000. John also does some Web design work on the side and reported revenues of $4,000 and associated expenses of $750. The Fergusons received $800 in qualified dividends and a $200 refund of their state income taxes. The Fergusons always itemize their deductions and their itemized deductions were well over the standard deduction amount last year. The Fergusons had qualifying insurance for purposes of the Affordable Care Act (ACA). Use Exhibit 8-9, Tax Rate Schedule, Dividends and Capital Gains Tax Rates for reference. The Fergusons reported making the following payments during the year: State income taxes of $4,400. Federal tax withholding of $21,000. Alimony payments to John’s former wife of $10,000 (divorced in 2014). Child support payments for John’s child with his former wife of $4,100. $12,200 of real property taxes. Sandy was reimbursed $600 for employee business expenses she incurred. She was required to provide documentation for her expenses to her employer. $3,600 to Kid Care day care center for Samantha’s care while John and Sandy worked. $14,000 interest on their home mortgage ($400,000 acquisition debt). $3,000 interest on a $40,000 home-equity loan. They used the loan to pay for a family vacation and new car. $15,000 cash charitable contributions to qualified charities. Donation of used furniture to Goodwill. The furniture had a fair market value of $400 and cost $2,000. What is the Fergusons' 2018 federal income taxes payable or refund, including any self-employment tax and AMT, if applicable? (Round your intermediate computations to the nearest whole dollar amount.)

Bellingham Company produces a product that requires 2 standard direct labor hours per unit at a standard hourly rate of $21.00 per hour. If 2,700 units used 5,600 hours at an hourly rate of $19.95 per hour, what is the direct labor (a) rate variance, (b) time variance, and (c) cost variance? Enter a favorable variance as a negative number using a minus sign and an unfavorable variance as a positive number.

a. Direct labor rate variance $

b. Direct labor time variance $

c. Direct labor cost variance $

Smith Enterprises manufactures tires for the Formula 1 motor racing circuit. For August 2017​, it budgeted to manufacture and sell 3 comma 700 tires at a variable cost of $ 76 per tire and total fixed costs of $ 54 comma 000. The budgeted selling price was $ 108 per tire. Actual results in August 2017 were 3 comma 400 tires manufactured and sold at a selling price of $ 110 per tire. The actual total variable costs were $ 282 comma 200​, and the actual total fixed costs were $ 50 comma 500.

1. Prepare a performance report that uses a flexible budget and a static budget.

2. Comment on the results in requirement 1.

Statement of Cash Flows—Indirect Method

The comparative balance sheet of Olson-Jones Industries Inc. for December 31, 20Y2 and 20Y1, is as follows:

The following additional information is taken from the records:

1. Land was sold for $55.
2. Equipment was acquired for cash.
3. There were no disposals of equipment during the year.
4. The common stock was issued for cash.
5. There was a $133 credit to Retained Earnings for net income.
6. There was a $41 debit to Retained Earnings for cash dividends declared.

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

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b. Was Olson-Jones Industries Inc.’s net cash flow from operations more or less than net income?
Less

Wolfpack Enterprises plans to issue $1,000,000, 5-year, bonds payable with a stated
interest rate of 12%. The bonds pay interest semi-annually and the market rate is 10%.
What amount of money can Wolfpack Enterprises expect to receive when they sell their bonds?

GPS Tracking: You work for a midsize freight delivery company that has been using text messaging as the primary communication channel between drivers and the central dispatch office. Drivers send a message to confirm the time and location whenever they’ve made a delivery or a pickup, and whenever dispatchers get an urgent request from a customer, they send messages to the trucks to find out who is nearby and available. This manual system is clumsy and prone to errors, and the company’s owners want to replace it with a fully computerized mapping system that uses the global positioning system (GPS) to automatically monitor the location of every truck in the fleet. Some drivers are in an uproar over the plan, saying it invades their privacy by tracking their every move all day long. Should the company proceed with the plan even though some drivers object? What are some of the issues to consider here?

The Walton Toy Company manufactures a line of dolls and a sewing kit. Demand for the company’s products is increasing and management requests assistance from you in determining an economical sales and production mix for the coming year. The company has provided the following data:

The following additional information is available:  

1. The company’s plant has a capacity of 130,000 direct labor-hours per year on a single-shift basis. The company’s present employees and equipment can produce all five products.

2. The direct labor rate of $16 per hour is expected to remain unchanged during the coming year.

3. Fixed manufacturing costs total $520,000 per year. Variable overhead costs are $2 per direct labor-hour.

4. All of the company’s nonmanufacturing costs are fixed.

5. The company’s finished goods inventory is negligible and can be ignored.

Required:

1. Assuming that the company has made optimal use of its 130,000 direct labor-hours, what is the highest direct labor rate per hour that Walton Toy Company would be willing to pay for additional capacity (that is, for added direct labor time)?

Briefly discuss each of these principles and explain why they are so important to accountants

1. Responsibilities –

2. The public interest

3. Integrity

4. Objectivity and independence

5. Due care

6. Scope and nature of services