How might cultural, political, or geoeconomic challenges affect a global company’s use of the Internet? Give several examples in your own words.

On December 18, 2017, Stephanie Corporation acquired 100 percent of a Swiss company for 4.0 million Swiss francs (CHF), which is indicative of book and fair value. At the acquisition date, the exchange rate was $1.00 = CHF 1. On December 18, 2017, the book and fair values of the subsidiary’s assets and liabilities were:

Stephanie prepares consolidated financial statements on December 31, 2017. By that date, the Swiss franc has appreciated to $1.10 = CHF 1. Because of the year-end holidays, no transactions took place prior to consolidation.

1. Determine the translation adjustment to be reported on Stephanie’s December 31, 2017, consolidated balance sheet, assuming that the Swiss franc is the Swiss subsidiary’s functional currency. What is the economic relevance of this translation adjustment?

2. Determine the remeasurement gain or loss to be reported in Stephanie’s 2017 consolidated net income, assuming that the U.S. dollar is the functional currency. What is the economic relevance of this remeasurement gain or loss?

A firm is deciding on a new project. Use the following information for the project evaluation and analysis: - The initial costs are $450,000 for fixed assets. The fixed assets will be depreciated straight line to a zero book value over the 3-year life of the project. The fixed assets have an estimated salvage value of $30,000 at the end of the project. - The project also requires an additional $100,000 for net working capital to start the project. All of the net working capital will be recouped at the end of the 3 years. - The project is expected to generate annual sales of $1,000,000 (1,000 units at $1,000) and total costs of $550,000 per year - The firm’s marginal tax rate is 40 percent. - The required rate of return for this project is 20% a) What is the Operating Cash Flow for each year of the project? b) What is the after-tax salvage value at the end of this project? c) What are the Cash Flows from Assets each year for this project? Year 0 1 2 3 OCF ΔNWC NCS CFFA d) What is the NPV of this project?

Determine the missing amounts in each of the following independent cases

What is the Uniform Interstate Family Support Act? Why would HR be concerned with this Act?

See http://www.aaml.org/sites/default/files/jurisdictional%20issues%20under-uifsa.pdf for an overview.

(Journalize Various Accounts Receivable Transactions) The balance sheet of Starsky Company at December 31, 2016, includes the following.

Transactions in 2017 include the following.

1. Accounts receivable of $138,000 were collected including accounts of $60,000 on which 2% sales discounts were allowed.

2. $5,300 was received in payment of an account which was written off the books as worthless in 2016.

3. Customer accounts of $17,500 were written off during the year.

4. At year-end, Allowance for Doubtful Accounts was estimated to need a balance of $20,000. This estimate is based on an analysis of aged accounts receivable.

Instructions

Prepare all journal entries necessary to reflect the transactions above.

At the next management team meeting, Bruce & Emmett express some concern that any new equipment acquired to replace the old equipment may become obsolete within the next three to six years. Bruce & Emmett want to know how the accounting rules for impairments would apply to any new equipment. Research the accounting literature (e.g., access the FASB Codification), to determine the official guidance for information on impairments including the timing and calculation of the amount. Be sure you describe the reasons for recording impairments and how recording any impairment actually can benefit the financial statements.

Companies Act 2016 introduces the solvency test. The solvency test operates on the basis that a company must ensure that it has sufficient funds to pay its debts to its creditors for the following purposes:
(a) Redemption of redeemable preference shares.
(b) Purchase by a company of its own shares under the share buyback provision.
(c) Reduction of capital.
(d) Giving financial assistance.
Discuss the relevant provisions of the Companies Act 2016 (Malaysia) which govern the solvency test and solvency statement.

Gauteng Potteryworks makes a variety of pottery products that it sells to retailers. The company uses job-order costing system in which predetermined overhead rates are used to apply manufacturing overhead cost to jobs. The predetermined overhead rate in the Moulding Department is based on machine-hours, and the rate in the Painting Department is based on Direct labour cost. At the beginning of the year, the company's management made the following estimates:

Job 205 was started on the 01 August and completed on the 10 August. The company's cost records show the following information concerning the job:

Required:

1. Compute predetermined overhead rate used during the year in the Moulding Department. Compute the rate used in the Painting Department.

2. Compute the total overhead cost applied to Job 205.

3. What would be the total cost recorded for Job 205 ? If the Job contained 50 units, what would be the cost per unit?

4. At the end of the year, the records of Gauteng Potteryworks revealed the following actual cost and operating data for all jobs worked on during the year:

What was the amount of under-or overapplied overhead in each department at the end of the year?

[The following information applies to the questions displayed below.]

On January 1, Boston Company completed the following transactions (use a 7% annual interest rate for all transactions): (FV of $1, PV of $1, FVA of $1, and PVA of $1) (Use the appropriate factor(s) from the tables provided.)

1. Borrowed $118,000 for nine years. Will pay $7,500 interest at the end of each year and repay the $118,000 at the end of the 9th year.
2. Established a plant remodeling fund of $492,250 to be available at the end of Year 10. A single sum that will grow to $492,250 will be deposited on January 1 of this year.
3. Agreed to pay a severance package to a discharged employee. The company will pay $76,500 at the end of the first year, $114,000 at the end of the second year, and $151,500 at the end of the third year.
4. Purchased a $177,500 machine on January 1 of this year for $35,500 cash. A five-year note is signed for the balance. The note will be paid in five equal year-end payments starting on December 31 of this year.

References

Section BreakP9-11 Computing Present Values LO9-7, 9-8

11.

value:
7.14 points

Required information

P9-11 Part 1

Required:

1. In transaction (a), determine the present value of the debt. (Round your answer to nearest whole dollar.)

References

eBook & Resources

WorksheetDifficulty: 3 HardLearning Objective: 09-08 Apply the present value concept to the reporting of long-term liabilities.

P9-11 Part 1Learning Objective: 09-07 Compute and explain present values.

Check my work

12.

value:
7.14 points

Required information

P9-11 Part 2

2-a. In transaction (b), what single sum amount must the company deposit on January 1 of this year? (Round your answer to nearest whole dollar.)

2-b. What is the total amount of interest revenue that will be earned? (Round your answer to nearest whole dollar.)

References

eBook & Resources

WorksheetDifficulty: 3 HardLearning Objective: 09-08 Apply the present value concept to the reporting of long-term liabilities.

P9-11 Part 2Learning Objective: 09-07 Compute and explain present values.

Check my work

13.

value:
7.14 points

Required information

P9-11 Part 3

3. In transaction (c), determine the present value of this obligation.

References

eBook & Resources

WorksheetDifficulty: 3 HardLearning Objective: 09-08 Apply the present value concept to the reporting of long-term liabilities.

P9-11 Part 3Learning Objective: 09-07 Compute and explain present values.

Check my work

14.

value:
7.18 points

Required information

P9-11 Part 4

4-a. In transaction (d), what is the amount of each of the equal annual payments that will be paid on the note?

4-b. What is the total amount of interest expense that will be incurred?

I don't understand the question..what method?

Kropf Inc. has provided the following data concerning one of the products in its standard cost system. Variable manufacturing overhead is applied to products on the basis of direct labor-hours.

The company has reported the following actual results for the product for September:

Required:

a. Compute the materials price variance for September.

b. Compute the materials quantity variance for September.

c. Compute the labor rate variance for September.

d. Compute the labor efficiency variance for September.

e. Compute the variable overhead rate variance for September.

f. Compute the variable overhead efficiency variance for September.

(Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Input all amounts as positive values.)

Brief Exercise 20-6

Carla Vista Ltd., a public company following IFRS 16, recently signed a lease for equipment from Costner Ltd. The lease term is 3 years and requires equal rental payments of $41,336 at the beginning of each year. The equipment has a fair value at the lease’s inception of $119,300, an estimated useful life of 3 years, and no residual value. Carla Vista pays all executory costs directly to third parties. The appropriate interest rate is 4%. . Using tables, a financial calculator, or Excel functions, calculate the amount of the right-of-use asset and lease liability. Prepare the initial entry to reflect the signing of the lease agreement and the first payment under the lease.

State Financial Corp. has three service departments (Administration, Communications, and Facilities), and two production departments (Deposits and Loans). A summary of costs and other data for each department prior to allocation of service department costs for the year ended December 31 follows.

The costs of the service departments are allocated on the following bases: Administration, employee-hours; Communications, number of employees; and Facilities, square footage occupied.

Required:

a. Assume that the bank elects to distribute service department costs to production departments using the direct method. What amount of Communications Department costs is allocated to the Deposits Department?

b. Assume the same method of allocation as in requirement (a). What amount of Administration Department costs is allocated to the Loans Department?

c. Assuming that the bank elects to distribute service department costs to other departments using the step method (starting with Facilities and then Communications), what amount of Facilities Department costs is allocated to the Communications Department?

d. Assume the same method of allocation as in requirement (c). What amount of Communication Department costs is allocated to Facilities?

Wildhorse Resort opened for business on June 1 with eight air-conditioned units. Its trial balance on August 31 is as follows. WILDHORSE RESORT TRIAL BALANCE AUGUST 31, 2017 Debit Credit Cash $25,000 Prepaid Insurance 9,900 Supplies 8,000 Land 26,000 Buildings 126,000 Equipment 22,000 Accounts Payable $9,900 Unearned Rent Revenue 10,000 Mortgage Payable 66,000 Common Stock 102,400 Retained Earnings 9,000 Dividends 5,000 Rent Revenue 82,200 Salaries and Wages Expense 44,800 Utilities Expenses 9,200 Maintenance and Repairs Expense 3,600 Totals $279,500 $279,500 Other data: 1. The balance in prepaid insurance is a one-year premium paid on June 1, 2017. 2. An inventory count on August 31 shows $431 of supplies on hand. 3. Annual depreciation rates are (a) buildings (4%) (b) equipment (10%). Salvage value is estimated to be 10% of cost. 4. Unearned Rent Revenue of $4,152 was earned prior to August 31. 5. Salaries of $410 were unpaid at August 31. 6. Rentals of $791 were due from tenants at August 31. (Use Accounts Receivable account.) 7. The mortgage interest rate is 8% per year.