Define present value vs future value.  In what scenarios would each method be used?

The Elberta Fruit Farm of Ontario always has hired transient workers to pick its annual cherry crop. Janessa Wright, the farm manager, just received information on a cherry picking machine that is being purchased by many fruit farms. The machine is a motorized device that shakes the cherry tree, causing the cherries to fall onto plastic tarps that funnel the cherries into bins. Ms. Wright has gathered the following information to decide whether a cherry picker would be a profitable investment for the Elberta Fruit Farm:

1. Currently, the farm is paying an average of $230,000 per year to transient workers to pick the cherries.
2. The cherry picker would cost $620,000. It would be depreciated using the straight-line method and it would have no salvage value at the end of its 8-year useful life.
3. Annual out-of-pocket costs associated with the cherry picker would be: cost of an operator and an assistant, $91,000; insurance, $5,000; fuel, $13,000; and a maintenance contract, $16,000.

Click here to view Exhibit 13B-1 and Exhibit 13B-2, to determine the appropriate discount factor using tables.

Required:

1. Determine the annual savings in cash operating costs that would be realized if the cherry picker were purchased.

2a. Compute the simple rate of return expected from the cherry picker.

2b. Would the cherry picker be purchased if Elberta Fruit Farm’s required rate of return is 11%?

3a. Compute the payback period on the cherry picker.

3b. The Elberta Fruit Farm will not purchase equipment unless it has a payback period of six years or less. Would the cherry picker be purchased?

4a. Compute the internal rate of return promised by the cherry picker.

4b. Based on this computation, does it appear that the simple rate of return is an accurate guide in investment decisions?

Which of ollow indi tax return? Should any of these individuals file a return even if filing is no t required? Why or why not? a. Patricia, age 19, is a self-employed single individual with gross income of $5,200 from an unincorporated business. Business expenses amot1nted to $4,900. b. Mike is single and is 67 years old. His gross income from wages was $10,800. c. Ronald is a dependent child under age 19 who received $6,800 in wages from a part-time job. d. Sam is married and files a joint return with his spouse, Lana. Both Sam and Lana are 67 years old. Their combined gross income was $24,250. e . Quinn, age 20, is a full-time college student who is claimed as a dependent by his parents. Quinn reports taxable interest and dividends of $2,500.

Absorption and Variable Costing Income Statements

During the first month of operations ended July 31, YoSan Inc. manufactured 9,900 flat panel televisions, of which 9,200 were sold. Operating data for the month are summarized as follows:

Required:

1. Prepare an income statement based on the absorption costing concept.

2. Prepare an income statement based on the variable costing concept.

Salespersons' Report and Analysis

Walthman Industries Inc. employs seven salespersons to sell and distribute its product throughout the state. Data taken from reports received from the salespersons during the year ended December 31 are as follows:

Required:

1. Prepare a table indicating contribution margin, variable cost of goods sold as a percent of sales, variable selling expenses as a percent of sales, and contribution margin ratio by salesperson. Round percents to the nearest whole number. Enter all amounts as positive numbers.

The City of Ashville operates an internal service fund to provide garage space and repairs for all city-owned-and-operated vehicles. The Central Garage Fund’s preclosing trial balance for the current fiscal year is as follows:

The following information, not yet reflected in the preclosing figures above, applies to the current fiscal year:

1. Supplies were purchased on account for $92,000; the perpetual inventory method is used.
2. The cost of supplies used during the year was $110,000. A physical count taken as of that date showed materials and supplies on hand totaled $72,000 at cost.
3. Salaries and wages paid to employees totaled $235,000, including related costs.
4. Billings totaling $30,000 were received from the enterprise fund for utility charges. The Central Garage Fund paid $27,000 of the amount owed. (At the government-wide level, record the payable amount as Internal Balances.)
5. Depreciation of the building was recorded in the amount of $10,000; depreciation of the machinery and equipment amounted to $9,000.
6. Billings to other departments for services provided to them were as follows:

7. Unpaid interfund receivable balances were as follows:

8. Vouchers payable at year-end were $16,000.
9. Closing entries were Prepared for the Central Garage Fund (ignore government-wide closing entry).

Assume all expenses at the government-wide level are charged to the General Government function. Prepare journal entries to record all of the transactions for this period in the Central Garage Fund accounts and in the governmental activities accounts.

Prepare closing entries for the Central Garage Fund (ignore government-wide closing entry).

Prepare a statement of net position for the Central Garage Fund as of year-end.

Predetermined Overhead Rate, Application of Overhead to Jobs, Job Cost

On April 1, Sangvikar Company had the following balances in its inventory accounts:

Work-in-process inventory is made up of three jobs with the following costs:

During April, Sangvikar experienced the transactions listed below.

1. Materials purchased on account, $28,670.
2. Materials requisitioned: Job 114, $16,270; Job 115, $12,370; and Job 116, $5,000.
3. Job tickets were collected and summarized: Job 114, 160 hours at $11 per hour; Job 115, 220 hours at $14 per hour; and Job 116, 70 hours at $19 per hour.
4. Overhead is applied on the basis of direct labor cost.
5. Actual overhead was $4,280.
6. Job 115 was completed and transferred to the finished goods warehouse.
7. Job 115 was shipped, and the customer was billed for 125 percent of the cost.

Required: (Can you please show detail calculations for solution for the answer)

1. Calculate the predetermined overhead rate based on direct labor cost.

% of direct labor cost

2. Calculate the ending balance for each job as of April 30. When required, round your answers to the nearest dollar. Use your rounded answers in subsequent computations, if necessary.

3. Calculate the ending balance of Work in Process as of April 30. When required, round your answer to the nearest dollar. (Can you please show detail calculations for solution for the answer)

$ _________

4. Calculate the cost of goods sold for April. When required, round your answer to the nearest dollar. (Can you please show detail calculations for solution)

$ __________

5. Assuming that Sangvikar prices its jobs at cost plus 25 percent, calculate the price of the one job that was sold during April. Round to the nearest dollar. (Can you please show detail calculations for solution)

$________

Please answer all three questions with a total of 1,000 words and no plagarism!

1. What is a good working definition of blockchain and cryptocurrencies?

2. How could these technologies drive change in the accounting and finance fields?

3. What are some of the obstacles facing firms trying to implement blockchain solutions?

Lou Barlow, a divisional manager for Sage Company, has an opportunity to manufacture and sell one of two new products for a five-year period. His annual pay raises are determined by his division’s return on investment (ROI), which has exceeded 22% each of the last three years. He has computed the cost and revenue estimates for each product as follows: Product A Product B Initial investment: Cost of equipment (zero salvage value) $ 380,000 $ 575,000 Annual revenues and costs: Sales revenues $ 410,000 $ 490,000 Variable expenses $ 186,000 $ 218,000 Depreciation expense $ 76,000 $ 115,000 Fixed out-of-pocket operating costs $ 89,000 $ 70,000 The company’s discount rate is 20%. Click here to view Exhibit 12B-1 and Exhibit 12B-2, to determine the appropriate discount factor using tables. Required: 1. Calculate the payback period for each product. 2. Calculate the net present value for each product. 3. Calculate the internal rate of return for each product. 4. Calculate the project profitability index for each product. 5. Calculate the simple rate of return for each product. 6a. For each measure, identify whether Product A or Product B is preferred. 6b. Based on the simple rate of return, Lou Barlow would likely:

please show all steps

Data Modeling question: model a personal lending app where Borrowers can request loan amounts, Lenders can offer Loans that are either amortized, installment-based, or interest-based, Borrowers can accept or reject loan offers, and the app tracks the principal, balance and payments made or missed.

Redard Corporation Comparative Balance Sheets June 30, 2013 and June 30 2014 Assets 2013 2014 Cash 50,000 164,800 Accounts Receivable 230,000 195,200 Inventory 420,000 320,000 Prepaid Expenses 6,000 5,000 Furniture 144,000 148,000 Accumulated Depr - Furniture (24,000) (42,000) Total Assets 826,000 791,000 Liabilities & Stockholder’s Equity Accounts Payable 200,400 143,400 Income tax payable 7,400 4,400 Notes Payable (Long term) 20,000 40,000 Bond Payable 200,000 100,000 Common Stock $10 par value 200,000 240,000 Additional paid in capital 121,440 181,440 Retained Earnings 76,760 81,760 Total Liabilities & S/E 826,000 791,000 Redard Corporation Income Statement June 30, 2014 Sales 1,609,000 Cost of Goods Sold 1,127,800 Gross Profit 481,200 Operating Expenses 349,400 Operating Income 131,800 Gain on sale of furniture 7,000 Interest expense 23,200 Income before income taxes 115,600 Income tax expense 4,600 Net Income 111,000 Additional information: 1. Paid dividends of $6,000 2. Market price – $75.00 Find the following ratios for 2014: 1. Current Ratio 2. Quick Ratio 3. Accounts Receivable Turnover 4. Days to Collect 5. Inventory Turnover 6. Days on hand 7. Payable Turnover 8. Days to pay 9. Debt to Equity Ratio 10. Number of times interest Earned 11. Profit Margin 12. Assets Turnover 13. Return on Assets 14. Return on Equity 15. Earnings per Share 16. Price/Earnings Ratio 17. Dividend Yield

Do you think that Section 404 of the Sarbanes-Oxley Act of 2002 has been a success or do you think that the requirements are not worth the cost? Pease explain in detail

Learning Objectives:

Identify taxable or nontaxable income, calculate taxable income, identify tax planning strategies

Background:

Sam and Ricci are a happily married young couple. They work hard and save diligently. Here comes the tax season and they plan on filing their joined tax report. They hope they can get some tax refund. They would also like to find out ways to save their tax payments in the future, so that they can raise children and prepare for their education fund.

Sam has a full-time job and makes $4,200 each month after taxes. He is also a teacher and last year he earn $700 out of a teaching job. Sam’s student loan balance is $22,000, he pays $250 each month. The interest payment he made on his student loan in last year is $1,800. Besides that Sam also has a car loan of $12,200 and credit card balance of $3,000. Sam’s withheld federal income tax is $10,000. (Let’s ignore state and local tax amount)

Ricci just graduated from college and has been working part time. Her workplace pays her $2,000 a month after taxes. Due to her excellent job performance and superior customer feedback, her boss gave her a total of $3,700 bonus last year. Her savings account has earned $20 in last year. Last year she graduated from her undergraduate program, and she paid $7,900 in tuition (she also qualified for the American Opportunity Credit). Ricci doesn’t have student loans. Ricci’s withheld federal income tax is $4,800. (Ignore state and local tax amount)

Sam and Ricci both have IRA accounts. Sam contributes $2000 a year and Ricci contributes $1000 to her account in each year. They bought a house a few years ago. Their mortgage payment per month is $1500. Last year, they made a total of $5,400 interest payment on their mortgage. Their property tax payment last year is $4,000

Your Tasks: (for calculations, You MUST show your work to earn credit)

1. Help the couple to calculate: (hint: some of the information provided may not be relevant to the tax report)

• Their total gross income
• AGI (adjusted gross income)
• Total Itemized deductions

2. If the standard deduction is $23,000 for their tax year, is the couple better off using the standard deduction or itemizing? Why?
3. What is the couple’s taxable income?
4. Suppose the income tax rate for their filing status is 20%, will they get tax refund or need to pay more tax that the amount withheld?
5. Is there anything that they could do to shield more of their income from taxes? Identify 2 to 3 tax planning strategies that are applicable to their situation.
6. Submit your work in WORD file to DropBox folder prior to its deadline.

Problem 12-19 Dropping or Retaining a Segment [LO12-2] Jackson County Senior Services is a nonprofit organization devoted to providing essential services to seniors who live in their own homes within the Jackson County area. Three services are provided for seniors—home nursing, Meals On Wheels, and housekeeping. Data on revenue and expenses for the past year follow: Total Home Nursing Meals On Wheels House- keeping Revenues $ 922,000 $ 269,000 $ 402,000 $ 251,000 Variable expenses 471,000 116,000 203,000 152,000 Contribution margin 451,000 153,000 199,000 99,000 Fixed expenses: Depreciation 69,400 8,500 40,400 20,500 Liability insurance 42,700 20,200 7,200 15,300 Program administrators’ salaries 114,500 40,600 38,100 35,800 General administrative overhead* 184,400 53,800 80,400 50,200 Total fixed expenses 411,000 123,100 166,100 121,800 Net operating income (loss) $ 40,000 $ 29,900 $ 32,900 $ (22,800) *Allocated on the basis of program revenues. The head administrator of Jackson County Senior Services, Judith Miyama, considers last year’s net operating income of $40,000 to be unsatisfactory; therefore, she is considering the possibility of discontinuing the housekeeping program. The depreciation in housekeeping is for a small van that is used to carry the housekeepers and their equipment from job to job. If the program were discontinued, the van would be donated to a charitable organization. None of the general administrative overhead would be avoided if the housekeeping program were dropped, but the liability insurance and the salary of the program administrator would be avoided. Required: 1-a. What is the financial advantage (disadvantage) of discontinuing the Housekeeping program? 1-b. Should the Housekeeping program be discontinued? 2-a. Prepare a properly formatted segmented income statement. 2-b. Would a segmented income statement format be more useful to management in assessing the long-run financial viability of the various services?