Hi can you assist me with this. Can you explain each of the similarities and differences in maybe a short paragraph. Thank you so

3) Provide THREE ways in which Governmental entities are similar to For Profit Entities and
THREE ways in which they are different (30 pts )

What arguments can be given that the historical cost framework should be abandoned?

PA11-3 Comparing, Prioritizing Multiple Projects [LO 11-1, 11-2, 11-3, 11-6] Hearne Company has a number of potential capital investments. Because these projects vary in nature, initial investment, and time horizon, management is finding it difficult to compare them. Assume straight line depreciation method is used. Project 1: Retooling Manufacturing Facility This project would require an initial investment of $5,600,000. It would generate $1,000,000 in additional net cash flow each year. The new machinery has a useful life of eight years and a salvage value of $1,180,000. Project 2: Purchase Patent for New Product The patent would cost $3,925,000, which would be fully amortized over five years. Production of this product would generate $785,000 additional annual net income for Hearne. Project 3: Purchase a New Fleet of Delivery Trucks Hearne could purchase 25 new delivery trucks at a cost of $190,000 each. The fleet would have a useful life of 10 years, and each truck would have a salvage value of $6,500. Purchasing the fleet would allow Hearne to expand its customer territory resulting in $950,000 of additional net income per year. Required: 1. Determine each project's accounting rate of return. (Round your answers to 2 decimal places.) 2. Determine each project's payback period. (Round your answers to 2 decimal places.) 3. Using a discount rate of 10 percent, calculate the net present value of each project. (Future Value of $1, Present Value of $1, Future Value Annuity of $1, Present Value Annuity of $1.) (Use appropriate factor(s) from the tables provided. Round your intermediate calculations to 4 decimal places and final answers to 2 decimal places.) 4. Determine the profitability index of each project and prioritize the projects for Hearne. (Round your intermediate calculations to 2 decimal places. Round your final answers to 4 decimal places.)

Adelphi Company purchased a machine on January 1, 2017, for $70,000. The machine was estimated to have a service life of ten years with an estimated residual value of $5,000. Adelphi sold the machine on January 1, 2021 for $28,000. Adelphi uses the double declining method for depreciation. Using this information, how much is the gain or (loss) for the equipment sale entry made on January 1, 2021. Enter a loss as a negative number.

Bond Premium, Entries for Bonds Payable Transactions

Campbell Inc. produces and sells outdoor equipment. On July 1, Year 1, Campbell issued $15,000,000 of 10-year, 10% bonds at a market (effective) interest rate of 8%, receiving cash of $17,038,598. Interest on the bonds is payable semiannually on December 31 and June 30. The fiscal year of the company is the calendar year.

Required:

If an amount box does not require an entry, leave it blank.

1. Journalize the entry to record the amount of cash proceeds from the issuance of the bonds on July 1, Year 1.

2. Journalize the entries to record the following:

a. The first semiannual interest payment on December 31, Year 1, and the amortization of the bond premium, using the straight-line method. (Round to the nearest dollar.)

b. The interest payment on June 30, Year 2, and the amortization of the bond premium, using the straight-line method. (Round to the nearest dollar.)

3. Determine the total interest expense for Year 1. Round to the nearest dollar.
$

4. Will the bond proceeds always be greater than the face amount of the bonds when the contract rate is greater than the market rate of interest?
Yes

5. Compute the price of $17,038,598 received for the bonds by using Exhibit 5 and Exhibit 7. (Round to the nearest dollar.) Your total may vary slightly from the price given due to rounding differences.

Return on Investment, Margin, Turnover Ready Electronics is facing stiff competition from imported goods. Its operating income margin has been declining steadily for the past several years. The company has been forced to lower prices so that it can maintain its market share. The operating results for the past 3 years are as follows: Year 1 Year 2 Year 3 Sales $14,000,000 $ 9,500,000 $ 9,000,000 Operating income 1,200,000 1,295,000 945,000 Average assets 15,000,000 15,000,000 17,750,000 For the coming year, Ready's president plans to install a JIT purchasing and manufacturing system. She estimates that inventories will be reduced by 70% during the first year of operations, producing a 20% reduction in the average operating assets of the company, which would remain unchanged without the JIT system. She also estimates that sales and operating income will be restored to Year 1 levels because of simultaneous reductions in operating expenses and selling prices. Lower selling prices will allow Ready to expand its market share. (Note: Round all numbers to two decimal places.) Required: 1. Compute the ROI, margin, and turnover for Years 1, 2, and 3. Year 1 Year 2 Year 3 ROI % % % Margin % % % Turnover 2. Conceptual Connection: Suppose that in Year 4 the sales and operating income were achieved as expected, but inventories remained at the same level as in Year 3. Compute the expected ROI, margin, and turnover. ROI % Margin % Turnover Why did the ROI increase over the Year 3 level? 3. Conceptual Connection: Suppose that the sales and net operating income for Year 4 remained the same as in Year 3 but inventory reductions were achieved as projected. Compute the ROI, margin, and turnover. ROI % Margin % Turnover Why did the ROI exceed the Year 3 level? 4. Conceptual Connection: Assume that all expectations for Year 4 were realized. Compute the expected ROI, margin, and turnover. ROI % Margin % Turnover Why did the ROI increase over the Year 3 level?

Assume Interstellar Communications Ltd.’s balance sheet includes the following assets under Property,
Plant, and Equipment: Land, Buildings, and Motor-Carrier Equipment. Interstellar Communications has
a separate accumulated depreciation account for each of these assets except land. Further, assume
that Interstellar completed the following transactions:
• Jan 2: Sold motor-carrier equipment with accumulated depreciation of $67,000 (cost of
$130,000) for $70,000 cash. Purchased similar new equipment with a cash price of $176,000.
• July 3: Sold a building that had cost $650,000 and had accumulated depreciation of $145,000
through December 31 of the preceding year. Depreciation is computed on a straight-line basis.
The building had a 40-year useful life and a residual value of $250,000. Interstellar received
$100,000 cash and a $400,000 note receivable.
• Oct 29: Purchased land and a building for a single price of $420,000. An independent appraisal
valued the land at $150,000 and the building at $300,000.
• Dec 31: Recorded depreciation as follows: New motor-carrier equipment has an expected useful
life of six years and an estimated residual value of 5% of cost. Depreciation is computed on the
double-diminishing-balance method. Depreciation on buildings is computed by the straight-line
method. The new building carries a 40-year useful life and a residual value equal to 10% of its
cost.
1. Please journalize each of the transactions from Jan 2nd – Dec 31st.

Hale Corporation is comparing two different capital structures, an all-equity plan (Plan I) and a levered plan (Plan II). Under Plan I, the company would have 190,000 shares of stock outstanding. Under Plan II, there would be 140,000 shares of stock outstanding and $2.8 million in debt outstanding. The interest rate on the debt is 6 percent and there are no taxes. If EBIT is $275,000, what is the EPS for each plan? (Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16.) If EBIT is $525,000, what is the EPS for each plan? (Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16.) What is the break-even EBIT? (Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16.)

Ealing Company began operations as a new subsidiary of Fundamental Company, a U.S. Corporation, on January 2, 2018, by issuing common stock for 180,000 foreign currency units (FCU). Ealing immediately borrowed 35,000 FCU with a 10-year, 10% note, interest payable annually on January 1. On the same date, Ealing bought a building for 200,000 FCU. The building was to be depreciated for 20 years on a straight-line basis with a residual value of 40,000 FCU.
During the year, the building was rented for 9,000 FCU per month. At year's end, all rent had been collected.
On May 1 a repair on the building of 15,000 FCU was completed and paid for. Land for a parking lot was acquired for 30,000 FCU in cash on June 1.
A dividend of 20,000 FCU was declared and paid on December 1.

Exchange rates for the year were as follows:
January 2, 2018 1 FCU = $.30

May 1, 2018 1 FCU = .37

June 1, 2018 1 FCU = .38

November 1, 2018 1 FCU = .41

December 1, 2018 1 FCU = .39

December 31, 2018 1 FCU = .35

average for 2018 1 FCU = .36

Fundamental company determined that the FCU was the functional currency and translation using the current rate method was appropriate for consolidation. Calculate the translation adjustment for 2018. (You might remember that the translation adjustment uses the net assets approach, not the net monetary assets approach.)

Activity Index: Standard direct labour hours 2,000 3,200 3,600 4,000 Variable costs Indirect materials $ 4,000 $ 6,400 $ 7,200 $ 8,000 Indirect labour 2,300 3,680 4,140 4,600 Utilities 3,200 5,120 5,760 6,400 Total variable 9,500 15,200 17,100 19,000 Fixed costs Supervisory salaries 1,000 1,000 1,000 1,000 Rent 3,000 3,000 3,000 3,000 Total fixed 4,000 4,000 4,000 4,000 Total costs $13,500 $19,200 $21,100 $23,000 The company applies total overhead on the basis of direct labour hours at $6.00 per direct labour hour and the standard hours per dining chair is 1/2 hour each. The company's actual production was 5,800 dining chairs with 3,000 actual hours of direct labour. Actual overhead was $18,200, of which $4,100 was fixed. Required: a) Calculate the variable overhead budget and fixed overhead variances. Prepare the entries for manufacturing overhead during the period and the entry to recognize the overhead variances at the end of the period

Vertical Analysis of Balance Sheet

Balance sheet data for Hanes Company on December 31, the end of the fiscal year, are shown below.

Prepare a comparative balance sheet for 20Y2 and 20Y1, stating each asset as a percent of total assets and each liability and stockholders' equity item as a percent of the total liabilities and stockholders' equity. If required, round percentages to one decimal place.

On January 1, 2020, Hawkeye Air leased a new airplane for 5 years. The expected life of the airplane is 20 years. The lease stipulates that Hawkeye Air makes annual payments of $1,085,923 payable at the beginning of each year. Hawkeye Air has an incremental borrowing rate of 4.3%. Hawkeye Air has an option to renew the lease with a 2% increase in the lease payment.

1) How will the lease be classified and how do you know?

1b) Calculate the present value of the lease payments.

2) What is the balance sheet impact of the lease at the beginning of the lease (1/1/2020)?

2a) What is the income statement impact of the lease for 2020?

2b) Identify any effects the lease arrangement and the associated reporting would have on the statement of cash flows for 2020.

Discuss the importance of and various types of performance measures that management can use to focus its attention on areas that need to be corrected or improved. (250 words)

Palisade Creek Co. is a merchandising business that uses the perpetual inventory system. The account balances for Palisade Creek Co. as of May 1, 2019 (unless otherwise indicated), are as follows:

During May, the last month of the fiscal year, the following transactions were completed:

Record the following transactions on page 20 of the journal. Refer to the Chart of Accounts for exact wording of account titles.

Record the following transactions on page 21 of the journal. Refer to the Chart of Accounts for exact wording of account titles.