Heels, a shoe manufacturer, is evaluating the costs and benefits of new equipment that would custom fit each pair of athletic shoes. The customer would have his or her foot scanned by digital computer equipment; this information would be used to cut the raw materials to provide the customer a perfect fit. The new equipment costs $109,000 and is expected to generate an additional $42,000 in cash flows for 5 years. A bank will make a $109,000 loan to the company at a 12% interest rate for this equipment’s purchase. Use the following table to determine the break-even time for this equipment. All cash flows occur at year-end. (PV of $1, FV of $1, PVA of $1, and FVA of $1) (Use appropriate factor(s) from the tables provided.)

The global economy has changed the way we do business and made us all realize the importance of having at least a minimum understanding of international law. Briefly discuss key transactions and clauses which should be addressed before going into international business. Next, discuss your opinion of owning/running a business which does a substantial amount of international business. Submit your assignment.

Please answer the following questions. Answers can be found in Chapter 4 of the textbook and in the Chapter 4 lecture notes. Submit your answers as an attachment on Canvas

1. What is the role of the jury?

2. What is the role of the judge?

3. What are the two COURT SYSTEMS in the US?

4. What are the two TYPES of courts in those court systems?

5. What are the two types of law considered by the two types of courts in those two court systems?

X Company must decide whether to continue using its current equipment or replace it with new, more efficient equipment. The following information is available for the current and new equipment:

Maintenance work will be necessary on the new equipment in Year 3, costing $2,500. The current equipment will last for six more years; the life of the new equipment is also six years. Assuming a discount rate of 6%, what is the net present value of replacing the current equipment?

Most Company has an opportunity to invest in one of two new projects. Project Y requires a $330,000 investment for new machinery with a five-year life and no salvage value. Project Z requires a $330,000 investment for new machinery with a four-year life and no salvage value. The two projects yield the following predicted annual results. The company uses straight-line depreciation, and cash flows occur evenly throughout each year. (PV of $1, FV of $1, PVA of $1, and FVA of $1) (Use appropriate factor(s) from the tables provided.)

4. Determine each project’s net present value using 7% as the discount rate. Assume that cash flows occur at each year-end. (Round your intermediate calculations.)

Sentinel Company is considering an investment in technology to improve its operations. The investment will require an initial outlay of $253,000 and will yield the following expected cash flows. Management requires investments to have a payback period of 3 years, and it requires a 7% return on investments. (PV of $1, FV of $1, PVA of $1, and FVA of $1) (Use appropriate factor(s) from the table provided.)

Required:
1. Determine the payback period for this investment.
2. Determine the break-even time for this investment.
3. Determine the net present value for this investment.

Determine the payback period for this investment. (Enter cash outflows with a minus sign. Round your Payback Period answer to 1 decimal place.)

Determine the break-even time for this investment. (Enter cash outflows with a minus sign. Round your break-even time answer to 1 decimal place.)

Determine the net present value for this investment.

At the end of the year, a company offered to buy 4,450 units of a product from X Company for a special price of $11.00 each instead of the company's regular price of $17.00 each. The following information relates to the 62,400 units of the product that X Company made and sold to its regular customers during the year:

Fixed cost of goods sold for the year were $142,272, and fixed period costs were $83,616. Variable period costs include selling commissions equal to 3% of revenue.

6. Profit on the special order is

7. Assume the following two changes for the special order: 1) variable cost of goods sold will decrease by $0.78 per unit, and 2) there will be no selling commissions. What would be the effect of these two changes on the special order profit?

8. There is concern that regular customers will find out about the special order, and X Company's regular sales will fall by 950 units. As a result of these lost sales, X Company's profits would fall by

Please show formulas used w/ numbers.

On December 31, 2017, Berclair Inc. had 400 million shares of common stock and 6 million shares of 9%, $100 par value cumulative preferred stock issued and outstanding. On March 1, 2018, Berclair purchased 30 million shares of its common stock as treasury stock. Berclair issued a 5% common stock dividend on July 1, 2018. Five million treasury shares were sold on October 1. Net income for the year ended December 31, 2018, was $650 million.

Required:

Compute Berclair's earnings per share for the year ended December 31, 2018. (Enter your answers in millions (i.e., 10,000,000 should be entered as 10).)

A. Explain how to address compliance with Government Accounting Standards (GAS) in nonprofit and governmental financial statements. Support your response with academic source(s).

B. Explain how the analysis of nonprofit and governmental financial statements differs from analysis of traditional financial statements. Provide academic examples to support your response.

C. Compose example financial statements for your company as a nonprofit entity and as a governmental entity. Ensure all information is entered accurately and the statements are compliant with GAS.

In an analysis by the Association of Certified Financial Crime Specialists (ACFCS) about the Autonomy merger with HP, the following statement is made: “The scandal is prompting questions about who is to blame for the soured merger. As details emerge, the case is spotlighting the difficulties that accountants and lawyers face in complex mergers and acquisitions and business deals. The case also raises the issue of what responsibility these professionals have for detecting potentially fraudulent business records where the line between accounting discrepancies and financial crime is blurred.”

Given the facts of the case, do you believe Deloitte met its obligations with regard to due care and professional judgment? Explain. Meg Whitman is quoted in the case as saying that the board, which approved the Autonomy transaction, relied on audited information from Deloitte & Touche and additional auditing from KPMG. Given that auditing standards and legal requirements dictate that auditors are responsible for detecting material fraud in the financial statements of audit clients, would you blame the auditors for failing to uncover the improper accounting for revenue at Autonomy? Which audit and ethical standards are critical in making that determination?

Do you believe a conflict of interest exists when audit firms earn about as much money from nonaudit services as audit services, given they are expected to make independent judgments on the financial transactions and financial reporting of their audit clients? Explain by using the Autonomy case as one such example of a possible conflict.

Tower Company owned a service truck that was purchased at the beginning of 2018 for $47,000. It had an estimated life of three years and an estimated salvage value of $5,000. Tower company uses straight-line depreciation. Its financial condition as of January 1, 2020, is shown in the following financial statements model. Assets = Equity Revenue − Expense = Net Income Cash Flow Cash + Machine − Accumulated Depreciation = Common Stock + Retained Earnings 35,000 + 47,000 − 33,000 = 19,000 + 30,000 NA − NA = NA NA In 2020, Tower Company spent the following amounts on the truck: Jan. 4 Overhauled the engine for $7,500. The estimated life was extended one additional year, and the salvage value was revised to $4,000. July 6 Obtained oil change and transmission service, $400. Aug. 7 Replaced the fan belt and battery, $500. Dec.31 Purchased gasoline for the year, $9,000. 31 Recognized 2018 depreciation expense. Required a. Record the 2020 transactions in a statements model like the preceding one. (In the Cash Flow column, use the initials OA to designate operating activity, IA for investing activity, FA for financing activity, NC for net change and NA for not affected. Round your answers to the nearest dollar amount. Enter any decreases to account balances with a minus sign.)

All I need now is the last row for 12/31

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:

*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 $48,600 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?

I would like you do identify a publicly traded manufacturing company. BY publicly traded it means they have stock traded on an exchange such as the New York Stock Exchange. I would then like you to research a product they manufacture. Based on what you have found would they use process costing or job order costing. Why did you select the method they did. Please be sure to integrate terms and concepts you learned about in week three and four as you describe the cost accounting system they might use

Break-Even Sales Under Present and Proposed Conditions

Kearney Company, operating at full capacity, sold 163,500 units at a price of $60 per unit during 20Y5. Its income statement for 20Y5 is as follows:

The division of costs between fixed and variable is as follows:

Management is considering a plant expansion program that will permit an increase of $780,000 (13,000 units at $60 per unit) in yearly sales. The expansion will increase fixed costs by $104,000, but will not affect the relationship between sales and variable costs.

Instructions:

1. Determine for 20Y5 the total fixed costs and the total variable costs.

2. Determine for 20Y5 (a) the unit variable cost and (b) the unit contribution margin.

3. Compute the break-even sales (units) for 20Y5.
units

4. Compute the break-even sales (units) under the proposed program.
units

5. Determine the amount of sales (units) that would be necessary under the proposed program to realize the $3,550,000 of income from operations that was earned in 20Y5.
units

6. Determine the maximum operating income possible with the expanded plant.
$

7. If the proposal is accepted and sales remain at the 20Y5 level, what will be the operating income or loss for 20Y6?
$  

8. Assuming a lack of market research, disadvantages for expanding the plant include all of the following except:

1. The break-even point increases.
2. The sales necessary to maintain the current income from operations must increase in excess of 20Y5 sales.
3. If future sales remain at the 20Y5 level, the income from operations will decline.
4. The maximum income from operations possible with the expanded plant is less than the current income from operations.