Goehler, Inc. acquires all of the voting stock of Kenneth, Inc. on January 4, 2017, at an amount in excess of Kenneth's fair value. On that date, Kenneth has equipment with a book value of $90,000 and a fair value of $120,000 (10-year remaining life). Goehler has equipment with a book value of $800,000 and a fair value of $1,200,000 (10-year remaining life). On December 31, 2018, Goehler has equipment with a book value of $975,000 but a fair value of $1,350,000 and Kenneth has equipment with a book value of $105,000 but a fair value of $125,000.

18) If Goehler applies the equity method in accounting for Kenneth, what is the consolidated balance for the Equipment account as of December 31, 2018?

A) $1,104,000.

B) $1,080,000.

C) $1,468,000.

D) $1,475,000.

E) $1,100,000.

19) If Goehler applies the partial equity method in accounting for Kenneth, what is the consolidated balance for the Equipment account as of December 31, 2018?

A) $1,475,000.

B) $1,080,000.

C) $1,468,000.

D) $1,100,000.

E) $1,104,000.

20) If Goehler applies the initial value method in accounting for Kenneth, what is the consolidated balance for the Equipment account as of December 31, 2018?

A) $1,080,000.

B) $1,104,000.

C) $1,475,000.

D) $1,100,000.

E) $1,468,000.

Please show works, Thanks!

.Our company had the following balances and transactions during the current year related to merchandise inventory.

Beginning merchandise inventory on January 11 20 units at $70 per unitPurchase on February 14 100 units at $85 per unitSale on August 21 120 units

What would be the company's ending merchandise inventory in dollars on December 31 if the company used perpetual, last in, first out (LIFO) method?

$9,900

$8,500

$8,400

$7,000

2.Our company had the following balances and transactions during the current year related to merchandise inventory.

Beginning merchandise inventory on January 11 20 units at $70 per unitPurchase on February 14 100 units at $85 per unitSale on August 21 120 units

What would be the company's cost of goods sold in dollars on December 31 if the company used perpetual, last in, first out (LIFO) method?

$9,900

$8,500

$8,400

$7,000

3.Our company had the following balances and transactions during the current year related to merchandise inventory.

Beginning merchandise inventory on January 1

120 units at $70 per unit

Purchase on February 14

100 units at $85 per unit

Sale on August 21

150 units

What would be the company's ending merchandise inventory in dollars on December 31 if the company used perpetual, first in, first out (FIFO) method?

$4,900

$5,950

$10,950

$12,000

4.Our company had the following balances and transactions during the current year related to merchandise inventory.

Beginning merchandise inventory on January 1

100 units at $75 per unit

Purchase on February 14

100 units at $80 per unit

Sale on August 21

150 units

What would be the company's cost of goods sold in dollars on December 31 if the company used perpetual, first in, first out (FIFO) method?

$4,000

$3,750

$11,500

$11,750

5.Our company had the following balances and transactions during the current year related to merchandise inventory.

Beginning merchandise inventory on January 1

120 units at $70 per unit

Purchase on February 14

100 units at $85 per unit

Sale on August 21

150 units

What would be the company's ending merchandise inventory in dollars on December 31 if the company used perpetual, weighted average (WA) costing method?

$4,900

$12,000

$11,523

$5,377

6.Our company had the following balances and transactions during the current year related to merchandise inventory.

Beginning merchandise inventory on January 1

100 units at $75 per unit

Purchase on February 14

100 units at $80 per unit

Sale on August 21

150 units

What would be the company's cost of goods sold in dollars on December 31 if the company used perpetual, weighted average (WA) costing method?

$4,000

$3,750

$11,625

$11,750

1. Within a given distribution channel, the following information is available concerning trade margins and costs. A wholesaler has a unit selling price of $230 and a unit cost of $140. The retailer requires a 42% markup on selling price. The manufacturer has unit variable costs of $34. Calculate the wholesaler percent markup on cost. Report your answer as a percentage and round to the nearest percent.

2. Within a given distribution channel, the following information is available concerning trade margins and costs. A wholesaler has a unit selling price of $241 and a unit cost of $115. The retailer requires a 27% markup on selling price. The manufacturer has unit variable costs of $59. Calculate the manufacturer's dollar margin per unit. Round your answer to the nearest dollar.

3. Within a given distribution channel, the following information is available concerning trade margins and costs. A wholesaler has a unit selling price of $820 and a unit cost of $477. The retailer requires a 52% markup on selling price. The manufacturer has unit variable costs of $278. Calculate the manufacturer's percent markup on cost. Report your answer as a percentage and round to the nearest percent.

PLEASE EXPLAIN ALL STEPS

Vaughn Enterprises is a boutique guitar manufacturer. The company produces both acoustic and electric guitars for rising and established professional musicians. Vanessa Aaron, the company’s sales manager, prepared the following sales forecast for 2018. The forecasted sales prices include a 5% increase in the acoustic guitar price and a 10% increase in the electric guitar price, to cover anticipated increases in raw materials prices.

1.) The income statement and the statement of cash flows often paint the same picture of the company. True or False

2.) Investing and financing activities for the statement of cash flows may be prepared using the direct method Horizontal analysis compares a financial statement line item in the current year with the same line item in the prior year. True or False

3.) The statement of cash flows is an optional statement. True or False

The production manager of Rordan Corporation has submitted the following quarterly production forecast for the upcoming fiscal year:

Each unit requires 0.25 direct labor-hours, and direct laborers are paid $20.00 per hour.

Required:

1. Prepare the company’s direct labor budget for the upcoming fiscal year. Assume that the direct labor workforce is adjusted each quarter to match the number of hours required to produce the forecasted number of units produced.

2. Prepare the company’s direct labor budget for the upcoming fiscal year, assuming that the direct labor workforce is not adjusted each quarter. Instead, assume that the company’s direct labor workforce consists of permanent employees who are guaranteed to be paid for at least 2,500 hours of work each quarter. If the number of required direct labor-hours is less than this number, the workers are paid for 2,500 hours anyway. Any hours worked in excess of 2,500 hours in a quarter are paid at the rate of 1.5 times the normal hourly rate for direct labor.

Plug Products owns 80 percent of the stock of Spark Filter Company, which it acquired at underlying book value on August 30, 20X6. At that date, the fair value of the noncontrolling interest was equal to 20 percent of the book value of Spark Filter. Summarized trial balance data for the two companies as of December 31, 20X8, are as follows:

On January 1, 20X8, Plug's inventory contained filters purchased for $76,000 from Spark Filter, which had produced the filters for $56,000. In 20X8, Spark Filter spent $116,000 to produce additional filters, which it sold to Plug for $157,429. By December 31, 20X8, Plug had sold all filters that had been on hand January 1, 20X8, but continued to hold in inventory $47,229 of the 20X8 purchase from

Plug Products owns 80 percent of the stock of Spark Filter Company, which it acquired at underlying book value on August 30, 20X6. At that date, the fair value of the noncontrolling interest was equal to 20 percent of the book value of Spark Filter. Summarized trial balance data for the two companies as of December 31, 20X8, are as follows:

On January 1, 20X8, Plug's inventory contained filters purchased for $76,000 from Spark Filter, which had produced the filters for $56,000. In 20X8, Spark Filter spent $116,000 to produce additional filters, which it sold to Plug for $157,429. By December 31, 20X8, Plug had sold all filters that had been on hand January 1, 20X8, but continued to hold in inventory $47,229 of the 20X8 purchase from Spark Filter.

Required:
a. Prepare all consolidation entries needed to complete a consolidation worksheet for 20X8. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)
  

b. Compute consolidated net income and income assigned to the controlling interest in the 20X8 consolidated income statement.

c. Compute the balance assigned to the noncontrolling interest in the consolidated balance sheet as of December 31, 20X8.

Robert Shah, a sales representative for Quality Office Supplies Corporation will receive a substantial bonus if he meets his annual sales goal. The company’s recognition point for sales is the day of the shipment. On December 31^st, Shah realizes he needs sales of $2000.00 to reach his sales goal and receive the bonus. He call a purchaser for a local insurance company, and asks him to buy $2000.00 worth of paper today. The purchaser says, “but Robert, that’s more than a year’s supply for us.” Shah says, “Buy it today. If you decide it’s too much, you can return however much you want for full credit next month”. The purchaser says “okay, ship it.” The paper shipped on December 31^st and was recorded as a sale. On January 15^th, the purchaser returns $1750.00 worth of paper for a full credit (approved by Shah) against the bill. Should the shipment at December 31^st be recorded as a sale? Discuss the ethics of Shah’s actions.

The following information applies to the questions displayed below.]

Warnerwoods Company uses a perpetual inventory system. It entered into the following purchases and sales transactions for March.

4. Compute gross profit earned by the company for each of the four costing methods. For specific identification, the March 9 sale consisted of 90 units from beginning inventory and 220 units from the March 5 purchase; the March 29 sale consisted of 70 units from the March 18 purchase and 110 units from the March 25 purchase. (Round weighted average cost per unit to two decimals and final answers to nearest whole dollar.)

Splish Company sells one product. Presented below is information for January for Splish Company.

Splish uses the FIFO cost flow assumption. All purchases and sales are on account.

Assume Splish uses a perpetual system. Prepare all necessary journal entries. (If no entry is required, select "No entry" for the account titles and enter 0 for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually.)

eTextbook and Media

List of Accounts

Compute gross profit using the perpetual system.

show work and explain

Olin Beauty Corporation manufactures cosmetic products that are sold through a network of sales agents. The agents are paid a commission of 18% of sales. The forecast income statement for the year ending December 31, 2020, is as follows:

The company is considering hiring its own sales staff to replace the network of agents. It will pay its salespeople a commission of 9% and incur fixed costs of $7,050,150.

Under the current policy of using a network of sales agents, calculate Olin Beauty Corporation’s break-even point in sales dollars for the year 2020.

Calculate the company's break-even point in sales dollars for the year 2020 if it hires its own sales force to replace the network of agents. (Round answer to the nearest whole dollar, e.g. 5,275.)

1. On the basis of the following data for Breach Co. for the current and preceding years ended December 31, prepare a statement of cash flows using the indirect method. Assume that equipment costing $25,000 was purchased for cash and no long-term assets were sold during the period.

   Stock was issued for cash-3,200 shares at par.
   Net income for the current year was $76,000.
   Cash dividends declared and paid were $13,000.
   

   	Current Year	Prior Year
   Assets
   Cash	$ 170,000	$74,000
   Accounts Receivable (net)	78,000	85,000
   Inventories	106,500	90,000
   Equipment	395,000	370,000
   Accumulated Depreciation	(195,000)	(158,000)
   Total assets	$ 554,500	$461,000
   Liabilities and stockholders' equity
   Accounts Payable (merchandise creditors)	$51,000	$50,000
   Taxes Payable	2,500	5,000
   Common Stock, $10 par	262,000	230,000
   Retained Earnings	239,000	176,000
   Total Liabilities and Stockholders' Equity	$ 554,500	$461,000

   Use the minus sign to indicate cash out flows, cash payments, decreases in cash, or any negative adjustments.

   Breach Co.
   Statement of Cash Flows
   For Year Ended December 31
   Cash flows from operating activities:
   Cash paid for dividends Cash paid for purchase of equipment Cash received from sale of common stock Decrease in inventories Net income	$
   Adjustments to reconcile net income to net cash flow from operating activities:
   Cash paid for dividends Cash paid for purchase of equipment Cash received from sale of common stock Depreciation Decrease in inventories
   Changes in current operating assets and liabilities:
   Cash paid for dividends Cash paid for purchase of equipment Cash received from sale of common stock Decrease in accounts receivable Increase in taxes payable
   Cash paid for dividends Cash paid for purchase of equipment Cash received from sale of common stock Decrease in accounts payable Increase in accounts payable
   Cash paid for dividends Cash paid for purchase of equipment Cash received from sale of common stock Decrease in inventories Increase in inventories
   Cash paid for dividends Cash paid for purchase of equipment Cash received from sale of common stock Decrease in taxes payable Increase in taxes payable
   Net cash flow from operating activities		$
   Cash flows from investing activities:
   Cash paid for purchase of equipment Decrease in accounts receivable Decrease in taxes payable Decrease in inventories Depreciation	$
   Net cash flow used for investing activities
   Cash flows from financing activities:
   Cash received from sale of common stock Decrease in accounts receivable Decrease in taxes payable Decrease in inventories Depreciation	$
   Cash paid for dividends Increase in accounts payable Increase in accounts receivable Increase in inventories Net income
   Net cash flow provided by financing activities
   Decrease in cash Increase in cash		$
   Cash at the beginning of the year
   Cash at the end of the year		$

High Country, Inc., produces and sells many recreational products. The company has just opened a new plant to produce a folding camp cot that will be marketed throughout the United States. The following cost and revenue data relate to May, the first month of the plant’s operation: Beginning inventory 0 Units produced 44,000 Units sold 39,000 Selling price per unit $ 80 Selling and administrative expenses: Variable per unit $ 2 Fixed (per month) $ 566,000 Manufacturing costs: Direct materials cost per unit $ 15 Direct labor cost per unit $ 9 Variable manufacturing overhead cost per unit $ 3 Fixed manufacturing overhead cost (per month) $ 748,000 Management is anxious to assess the profitability of the new camp cot during the month of May.

Required: 1. Assume that the company uses absorption costing. a. Determine the unit product cost. b. Prepare an income statement for May.

2. Assume that the company uses variable costing. a. Determine the unit product cost. b. Prepare a contribution format income statement for May.

    Sales price$12per unitVariable costs 2per unitFixed costs 40,000per month

You have the following information regarding AJH Company:

Sales 25,000 units per year at $45 per unit

Production 30,000 units in 2004

At the beginning of 2004 there was no inventory.

Direct Materials are $12.00 per unit

Direct labor is $10.00 per unit

Variable manufacturing overhead costs are $8.00 per unit

Fixed manufacturing overhead costs are $150,000 per year

Marketing costs are all variable at $3.00 per unit

Administrative costs are all fixed at $75,000 per year

Required:

(a.) Prepare an income statement under absorption costing for 2004

(b.) Prepare an income statement under variable costing for 2004

(c.) Prepare an income statement under throughput costing for 2004.