Selected comparative financial statements of Haroun Company follow.

Required:
1. Complete the below table to calculate the trend percents for all components of both statements using 2011 as the base year. (Round your percentage answers to 1 decimal place.)

Complete this question by entering your answers in the tabs below.

• Comp IS
• Comp BS

Complete the below table to calculate the trend percents for all components of comparative income statements using 2011 as the base year.

Windsor Company was incorporated on January 2, 2018, but was unable to begin manufacturing activities until July 1, 2018, because new factory facilities were not completed until that date.

The Land and Buildings account reported the following items during 2018.

January 31 Land and building $165,900

February 28 Cost of removal of building 9,973

May 1 Partial payment of new construction 63,430

May 1 Legal fees paid 4,630

June 1 Second payment on new construction 48,600

June 1 Insurance premium 2,280

June 1 Special tax assessment 4,310

June 30 General expenses 36,249

July 1 Final payment on new construction 30,570

December 31 Asset write-up 56,497

Total 422,439

December 31 Depreciation-2018 at 1% (3,613 )

December 31, 2018 Account balance $418,826

The following additional information is to be considered.

1. To acquire land and building, the company paid $85,900 cash and 800 shares of its 8% cumulative preferred stock, par value $100 per share. Fair value of the stock is $106 per share.

2. Cost of removal of old buildings amounted to $9,973, and the demolition company retained all materials of the building. 3. Legal fees covered the following.

Cost of organization $710

Examination of title covering purchase of land 1,450

Legal work in connection with construction contract 2,470

Total $4,630

4. Insurance premium covered the building for a 2-year term beginning May 1, 2018.

5. The special tax assessment covered street improvements that are permanent in nature.

6. General expenses covered the following for the period from January 2, 2018, to June 30, 2018.

President’s salary $32,162

Plant superintendent’s salary-supervision of new building 4,087 $36,249

7. Because of a general increase in construction costs after entering into the building contract, the board of directors increased the value of the building $56,497, believing that such an increase was justified to reflect the current market at the time the building was completed. Retained earnings was credited for this amount.

8. Estimated life of building-50 years. Depreciation for 2018-1% of asset value (1% of $361,300, or $3,613).

what is the differnce between AP trust vs Qtip trust?

During Heaton Company’s first two years of operations, it reported absorption costing net operating income as follows:

* $3 per unit variable; $251,000 fixed each year.

The company’s $37 unit product cost is computed as follows:

Forty percent of fixed manufacturing overhead consists of wages and salaries; the remainder consists of depreciation charges on production equipment and buildings.

Production and cost data for the first two years of operations are:

Required:

2. What is the variable costing net operating income in Year 1 and in Year 2?

3. Reconcile the absorption costing and the variable costing net operating income figures for each year.

Following is information on two alternative investments being considered by Jolee Company. The company requires a 8% return from its investments. (PV of $1, FV of $1, PVA of $1 and FVA of $1). (Use appropriate factor(s) from the tables provided.) Project A Project B Initial investment $ (185,325 ) $ (153,960 ) Expected net cash flows in year: 1 38,000 28,000 2 59,000 43,000 3 81,295 65,000 4 79,400 85,000 5 73,000 38,000 a. For each alternative project compute the net present value. b. For each alternative project compute the profitability index, if the company can only select one project, which should it choose?

Following is information on two alternative investments being considered by Jolee Company. The company requires a 8% return from its investments. (PV of $1, FV of $1, PVA of $1 and FVA of $1). (Use appropriate factor(s) from the tables provided.) Project A Project B Initial investment $ (185,325 ) $ (153,960 ) Expected net cash flows in year: 1 38,000 28,000 2 59,000 43,000 3 81,295 65,000 4 79,400 85,000 5 73,000 38,000 a. For each alternative project compute the net present value. b. For each alternative project compute the profitability index, if the company can only select one project, which should it choose?

Shanghai Company sells electronic equipment that it acquires from the US. During the year 2014, the inventory records reflected the following:

At the end of 2014, 45 units are still on hand at the end of year 2014. Shanghai sell its electronic equipment at a fixed price of $100 each. Required:

1. Determine the cost of goods sold and the cost of ending inventory assuming the company uses FIFO.

2. Determine the amount of gross profit that would be reported for the year.

3. Given the price trend shown above, which valuation method (FIFO, LIFO, or Weighted Average) will result in the lowest gross profit?

4. Given the price trend shown above, which valuation method (FIFO, LIFO, or Weighted Average) will result in a better matching of Revenues & Cost of goods sold? Explain.

C6. In this segment of our continuing case, assume that you have been using standard
costing to plan and control costs at your cookie store. In a meeting with your budget
team, which includes managers and employees from the Purchasing, Product Design,
and Production departments, you ask all team members to describe any operating problems
they encountered in the last quarter. You explain that you will use this information
to analyze the causes of significant cost variances that occurred during the quarter.
For each of the following situations, identify the direct materials and/or direct labor
variance(s) that could be affected, and indicate whether the variances are favorable or
unfavorable.
1. The production department uses highly skilled, highly paid workers.
2. Machines were improperly adjusted.
3. Direct labor personnel worked more carefully than they had in the past to manufacture
the product.
4. The Product Design Department replaced a direct material with one that was less
expensive and of lower quality.
5. The Purchasing Department bought higher-quality materials at a higher price.
6. A major supplier used a less-expensive mode of transportation to deliver the raw
materials.
7. Work was halted for 2 hours because of a power failure.

Case study: The date is October 1, 2018. You are the nurse manager of an orthopedic surgery unit and today you received the previous month’s budget printout (below). The last column identifies the budget dollars that can be spent in the remaining three months of this year. A new budget year begins on January 1, 2019. 1. Your charge nurses are requesting one additional RN on each shift. This request is based on documented increased patient acuity over the last two years. (Assume each new nurse will earn $37.00 per hour) 2. Dr. Bones, a prominent orthopedic surgeon, has requested two new continuous passive movement machines (CPM) for this unit at a cost of $3,000.00 each. 3. In addition, you would like to attend a national orthopedics conference in New York at a projected cost of $1,500.00, that will be due after the next budget begins in January, 2019. The registration fee is $350.00 and is due now.

Discussion Questions for Fiscal Management Case Study:

1- How will you deal with the 3 requests based on the budget printout?

2-What leadership theory guides your budget decisions?

3- Discuss why you need to involve all members of your team in your fiscal plan.

4-Using zero-based budgeting, identify the driving forces for each of your 3 decisions.

5-Using zero-based budgeting, identify the restraining forces for each of your 3 decisions.

Ellington Corporation uses least-squares regression to analyze a variety of operating costs. A staff assistant determined that monthly machine hours (MH) have a strong cause-and-effect relationship with total maintenance costs, and generated the following statistics: Intercept: $170,000 b coefficient: $3.80 Total machine hours for the year: 36,500

Required: A. Construct the company's regression equation. B. Based on your answer in part "A," identify Ellington's dependent variable and independent variable. C. What does the b coefficient really represent? D. Predict the company's maintenance cost in a month when 3,200 machine hours are worked.

“It is preferable for shareholders to own preference shares instead of ordinary shares.” REQUIRED: Critically discuss, stating whether you agree or disagree with the above statement. Refer to relevant statutory law in your answer as appropriate.

Wonder World Ltd. operates amusement parks similar to those such as Six Flags, Universal Studios, Disneyland etc. Wonder World's mission is to provide high quality family entertainment that exceed guests' expectations and will create lifelong memories. To achieve this goal, Wonder World strives to provide safe, clean, friendly family environments at reasonable prices. In addition to the amusement parks, the company operates a community outreach program. Through volunteerism, it offers educational and recreational programs (e.g. after school programs for children and teenagers, employment related training for adults) and special events at its facilities.

Wonder World's president, Applie Baker, has asked you to lead a team of employees in developing a balanced scorecard for its parks.

Required: 1) For each balanced scorecard perspective identify two measures of performance that relate to Wonder Worlds' key success factors.

[The following information applies to the questions displayed below.] In 2020, Carson is claimed as a dependent on his parents' tax return. His parents report taxable income of $200,000 (married filing jointly). Carson's parents provided most of his support. What is Carson's tax liability for the year in each of the following alternative circumstances? Use Tax Rate Schedule, Dividends and Capital Gains Tax Rates for reference. b. Carson is 23 years old at year-end. He is a full-time student and earned $14,300 from his summer internship and part-time job. He also received $5,300 of qualified dividend income. (Do not round intermediate calculations. Round your final answer to 1 decimal place.)

Walsh Company manufactures and sells one product. The following information pertains to each of the company’s first two years of operations:

During its first year of operations, Walsh produced 50,000 units and sold 40,000 units. During its second year of operations, it produced 40,000 units and sold 50,000 units. The selling price of the company’s product is $59 per unit.

Required:

1. Assume the company uses variable costing:

b. Prepare an income statement for Year 1 and Year 2.

2. Assume the company uses absorption costing:

b. Prepare an income statement for Year 1 and Year 2.

3. Reconcile the difference between variable costing and absorption costing net operating income in Year 1.