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.

Cost of Goods Sold

Pietro Frozen Foods, Inc., produces frozen pizzas. For next year, Pietro predicts that 49,400 units will be produced, with the following total costs:

Next year, Pietro expects to purchase $124,500 of direct materials. Projected beginning and ending inventories for direct materials and work in process are as follows:

Pietro expects to produce 49,400 units and sell 48,700 units. Beginning inventory of finished goods is $42,500, and ending inventory of finished goods is expected to be $34,000.

Required:

1. Prepare a statement of cost of goods sold in good form.

2. What if the beginning inventory of finished goods decreased by $5,000? What would be the effect on the cost of goods sold?
  by $

New-Project Analysis

The Campbell Company is considering adding a robotic paint sprayer to its production line. The sprayer's base price is $940,000, and it would cost another $19,500 to install it. The machine falls into the MACRS 3-year class (the applicable MACRS depreciation rates are 33.33%, 44.45%, 14.81%, and 7.41%), and it would be sold after 3 years for $500,000. The machine would require an increase in net working capital (inventory) of $8,000. The sprayer would not change revenues, but it is expected to save the firm $444,000 per year in before-tax operating costs, mainly labor. Campbell's marginal tax rate is 40%.

1. What is the Year 0 net cash flow?
   $
2. 
   
3. 
   
4. What are the net operating cash flows in Years 1, 2, and 3? Do not round intermediate calculations. Round your answers to the nearest dollar.

   Year 1	$
   Year 2	$
   Year 3	$

5. 
   
6. What is the additional Year 3 cash flow (i.e, the after-tax salvage and the return of working capital)? Do not round intermediate calculations. Round your answer to the nearest dollar.
   $
7. 
   
8. 
   
9. If the project's cost of capital is 10 %, what is the NPV of the project? Do not round intermediate calculations. Round your answer to the nearest dollar.
   $
   
   Should the machine be purchased?

Fred’s Fun-Time Arcade Rentals-Accounting Cycle On December 1, 2018, Fred and Patsy Forrest formed a corporation called Fred’s Fun-Time Arcade Rentals. The newly formed corporation rents retro video arcade games, pinball machines, dunk tanks, photo booths, moon bounces and more for businesses, community centers, schools, group events, and parties. Fred’s Fun-Time Arcade Rentals immediately began operations by taking over the location of Arcade Alley Games, a vintage classic arcade game rental company that closed. Fred’s Fun-Time Arcade Rentals, uses the following accounts: Cash                                                    Income Taxes Payable Accounts Receivable                          Capital Stock Prepaid Rent                                                   Retained Earnings Unexpired Insurance                                      Dividends Office Supplies                                               Income Summary Arcade Game Machines                                 Rental Fees Revenue Accumulated Depreciation:                       Salaries Expense Arcade Game Machines                          Maintenance Expense Notes Payable                                  Utilities Expense Accounts Payable                                           Rent Expense Interest Payable                                           Office Supplies Expense Salaries Payable                                           Depreciation Expense: Arcade Game Machines Dividends Payable                                          Interest Expense Unearned Rental Fees                                Income Taxes Expense                                              The corporation performs adjusting entries monthly. Closing entries are performed annually on December 31. During December, the corporation entered into the following transactions: Dec. 1   Issued to Fred and Patsy Forrest 30,000 shares of capital stock in exchange for a total of $300,000 cash. Dec. 1   Purchased for $240,000 all of the arcade game machines formerly owned by Arcade Alley Games. Paid $90,000 cash and issued a one-year note payable for $150,000. The note, plus all 12-months of accrued interest, are due November 30, 2019. Dec. 1   Paid $15,000 to Sunshine Realty as three months’ advance rent for warehouse used to store the arcade game machines and office formerly occupied by Arcade Alley Games. Dec. 4 Purchased office supplies on account from Office Depot, $1,300. Payment is due in 30 days. (These supplies are expected to last for several months; debit the Office Supplies asset account.) Dec. 8 Received $6,000 cash as advance payment on pinball arcade game rentals from Party Planners, Inc. (Credit Unearned Rental Fees.) Dec. 12 Paid salaries for the first two weeks in December, $5,400. Dec. 15 Excluding the advance from Party Planners, Inc., arcade game rental fees earned during the first 15 days of December amounted to $22,000, of which $14,000 was received in cash. Dec. 17 Purchased on account from Arcade Restoration, Inc., $400 in parts needed to repair a dunk tank machine. (Debit an expense account.) Payment is due in 10 days. Dec. 23 Collected $2,100 of the accounts receivable recorded on December 15. Dec. 26 Rented a video poker machine to O’Malley’s Pub at a price of $150 per day, to be paid when the video poker machine is returned. O’Malley’s Pub expects to keep the video poker machine for a month. Dec. 26 Paid biweekly salaries, $5,400. Dec. 27 Paid the account payable to Arcade Restoration, Inc., $400. Dec. 28 Declared a dividend of 10 cents per share, payable on January 15, 2019. Dec. 29 Purchased a 12-month insurance policy for $6,000. The policy goes into effect on January 1, 2018. Dec. 31 Received a bill from Verizon Communications for phone service for the month of December, $700. Payment is due in 30 days. Dec. 31 Arcade game rental fees earned during the second half of December amounted to $25,000, of which $19,000 was received in cash. Data for Adjusting Entries a. The advance payment of rent on December 1 covered a period of three months. b. The annual interest rate on the note payable to Arcade Alley Games is 6 percent. c. The arcade game machines are being depreciated by the straight-line method over a period of eight years. d. Office supplies on hand at December 31 are estimated at $700. e. During December, the company earned $3,700 of the rental fees paid in advance from Party Planners, Inc. on December 8. f. As of December 31, six days’ rent on the pinball machines rented to O’Malley’s Pub on December 26 has been earned. g. Salaries earned by employees since the last payroll date (December 26) amounted to $1,600 as of month-end. h. It is estimated that the company is subject to a combined federal and state income tax rate of 30 percent of income before income taxes (total revenue minus all expenses other than income taxes). These taxes will be paid in 2019. Instructions Perform the following steps of the accounting cycle for the month of December: 1.    Journalize the December transactions. Do not record adjusting entries at this point. 2.    Post the December transactions to the appropriate ledger accounts. 3.    Prepare the unadjusted trial balance. 4.    Prepare the necessary adjusting entries for December. 5.    Post the December adjusting entries to the appropriate ledger accounts. 6.    Prepare an income statement and statement of retained earnings for the year ended December 31, and a balance sheet (in report form) as of December 31 7.    Prepare closing entries and post to ledger accounts. 8.    Prepare an after-closing trial balance as of December 31.

What do you understand by impairment of long-lived tangible asset?

Expenditures made to extend an asset's life are called revenue expenditures.

True False

Arnez Company’s annual accounting period ends on December 31, 2017. The following information concerns the adjusting entries to be recorded as of that date.

1. An analysis of the company's insurance policies provided the following facts.
     

Bledsoe Corporation has provided the following data for the month of November:

Additional information:

Any underapplied or overapplied manufacturing overhead is closed out to cost of goods sold.

Required:

Please prepare a Schedule of Cost of Goods Manufactured and a Schedule of Cost of Goods Sold.

Comfy Corporation manufactures furniture in several divisions, including the patio furniture division. The manager of the patio furniture division plans to retire in two years.
The manager receives a bonus based on the division’s ROI, which is currently 7%.
One of the machines that the patio furniture division uses to manufacture the furniture is rather old,
and the manager must decide whether to replace it. The new machine would cost $35,000 and would last
10 years. It would have no salvage value. The old machine is fully depreciated and has no trade-in value.
Comfy uses straight-line depreciation for all assets. The new machine, being new and more efficient, would
save the company $5,000 per year in cash operating costs. The only difference between cash flow and net
income is depreciation. The internal rate of return of the project is approximately 7%. Comfy Corporation’s
weighted-average cost of capital is 5%. Comfy is not subject to any income taxes.
1. Should Comfy Corporation replace the machine? Why or why not?
2. Assume that “investment” is defined as average net long-term assets (that is, after depreciation) during the year. Compute the project’s ROI for each of its first five years. If the patio furniture manager is
interested in maximizing his bonus, would he replace the machine before he retires? Why or why not?
3. What can Comfy do to entice the manager to replace the machine before retiring?