Questions
Below are the 2018 and 2019 year-end balance sheets for WalkerInc.:​Assets20192018...

Below are the 2018 and 2019 year-end balance sheets for Walker Inc.:


Assets20192018
Cash$200,000$170,000
Accounts receivable             864,000            700,000
Inventories          2,000,0001,400,000
Total current assets$3,064,000$2,270,000
Net fixed assets          6,800,0006,600,000
Total assets$9,864,000$8,870,000



Liabilities and equity

Accounts payable$1,400,000$1,090,000
Notes payable          1,600,000         1,800,000
Total current liabilities$3,000,000$2,890,000
Long-term debt3,200,000         2,400,000
Common stock          3,000,0003,000,000
Retained earnings             664,000            580,000
Total common equity$      3,664,000$ 3,580,000
Total liabilities and equity$9,864,000$8,870,000


Walker has never paid a dividend on its common share, and it issued $2,400,000 of 10-year non-callable, long-term debt in 2018. As of the end of 2019, none of the principal on this debt had been repaid. Assume that the company’s sales in 2018 and 2019 were the same. Which of the following statements must be correct?


a.

Walker increased its short-term bank debt in 2019.


b.

Walker issued new common shares in 2019.


c.

Walker issued long-term debt in 2019.


d.

Walker repurchased some common shares in 2019.

In: Finance

Assume that you have a Saudi league player database. In this database, you have a table...

Assume that you have a Saudi league player database. In this database, you have a table containing players’ attributes such as (Name, age, position, etc.) and you decided to add information about players’ agents. Would you represent the agent information as attributes in the player table or would you create an entity set for players’ agents? Justify your answer.  

I need clear answer please don't copy and paste

In: Computer Science

Type a 1 page notes or information on Pathogenesis of Malaria and Update on Vaccine Research....

Type a 1 page notes or information on Pathogenesis of Malaria and Update on Vaccine Research. Do not write the notes type it.

In: Biology

Explain how to handle null values and default values when coding INSERT and UPDATE statements. Give...

Explain how to handle null values and default values when coding INSERT and UPDATE statements. Give examples.

In: Computer Science

Suppose that the price of gold at close of trading yesterday was $600 and its volatility...

Suppose that the price of gold at close of trading yesterday was $600 and its volatility was estimated as 1.3% per day. The price at the close of trading today is $605. Moreover, the price of silver at the close of trading yesterday was $16, its volatility was estimated as 1.5% per day, and its correlation with gold was estimated as 0.8. The price of sliver at the close of trading today is unchanged at $16. a. Update the volatilities for gold and silver using the EWMA model with λ = 0.94. b. Update the correlation between gold and sliver using the EWMA model with λ = 0.94.

In: Finance

How to do this in Python (using Lists): Create a python program that allows a user...

How to do this in Python (using Lists):

Create a python program that allows a user to display, sort and update as needed a List of U.S States containing the State Capital and State Bird.

You will need to embed the State data into your Python code. The user interface will allow the user to perform the following functions:

1. Display all U.S. States in Alphabetical order along with Capital and Bird

2. Search for a specific state and display the appropriate Capital and Bird

3. Update a Bird for a specific state

4. Exit the program

In: Computer Science

Step 2: Create Stored Procedures to Add/Update/Delete an entity table Create a script to create a...

Step 2: Create Stored Procedures to Add/Update/Delete an entity table

Create a script to create a table named ProjectBilling which will have the following columns:

• projectBillID char(6) : A 6 character unique identifier (numbers and letters)

• TransAmount decimal(16,9) : The amount of the transaction

• TransDesc varchar(255): A description of the transaction

• TransDate datetime: The date of the transaction

• projectID char(4):The Id of the project

• accountMgr char(8):The employee who manages the bill ledger Include this create table script in your script.

You will create the SQL Scripts to create procedures to insert/ update data. The following definitions specify the parameters that can be passed in.

The underlined parameters are required, but the other parameters will be optional.

Make sure that your procedure inserts records if the required parameters do not exist, but they update records if the required parameters do exist.

For example: If SP_AddUpdateProjBill: passes in projectBillID “AA0102” and it DOESN’T exists in the projectbilling table(s) , it will insert the values passed in.

If SP_AddUpdateProjectBill: passes in projectBillID “AA0102” and it DOES exists in the projectbilling table(s) , it will UPDATE the values passed in for the AA0102 record.

Procedures Needed: - SP_AddUpdateProjectBill: Adds/Updates the ProjectBilling Table with all the field information.

o Parameters: projectBillID, TransAmount, TransDesc, TransDate, projectId, accountMgr. -

SP_DeleteProjectBill: Deletes a project bill by the ProjectBill Id.

o Parameters: projectBillId

In: Computer Science

Mr. Thompson is a businessman. He started a business five years ago and it has increased...

Mr. Thompson is a businessman. He started a business five years ago and it has increased in size gradually for its continuous success. Thompson Inc. is a private company and it uses ASPE for preparing its financial statements. It has completed accounting year on December 31, 2017. At the end of 2017, the financial position statement shows that there is huge amount of surplus cash and Thompson has shown interest in investing a part of the surplus amount to the equity securities of Panna Corporation. It is also a growing company in the same industry. The balance sheets of Thompson Inc. and Panna Corporation as on December 31, 2017 with fair values of assets and liabilities of Panna Corporation are presented below:

Assets Thompson Inc Panna Corporation
Carrying Amount Carrying Amount Fairvalue
Cash 400000 10000 10000
Accounts receivable 80000 25000 22000
Inventory 100000 70000 75000
Plant 500000 165000 175000
Patents 100000 25000 25000
Trade marks - - 20000
Goodwill 120000 10000 10000
Total Assets 1300000 305000
Liabilities and Equity:
Current liabilities 160000 55000 60000
Longterm liabilities 100000 65000 60000
Common shares (at $10 per share) 1000000 100000
Retained earnings 40000 85000
Total liabilities and equity 1300000 305000

You, a CPA, CGA, the CFO of Thompson Inc., were asked by Mr. Thompson to give your opinion on the following different situations regarding the –

• Accounting requirements for the following investment proposals; and

• Presentation of Financial statement for each independent investment proposals of Mr. Thompson.

Situations:

1. Suppose Thompson purchased 1,000 shares of Panna Corporation at $ 1,100 on January 1, 2018. Show the journal entry for this transaction in the book of Thompson and present the balance sheet of Thompson Inc. after this investment on January 1, 2018.

2. Suppose Thompson purchased 4,000 shares of Panna Corporation at $ 4,500 on January 1, 2018. These shares are traded in Toronto Stock Exchange. Thompson Inc. gained significant influence over the investee (Panna Corporation) by this investment. Explain to Mr. Thompson what will be the appropriate accounting method for this transaction. Show the journal entry for this transaction in the book of Thompson on January 1, 2018.

Now assume that Thompson Inc. is a publicly traded company. It follows IFRS for the preparation and presentation of its annual financial reports. Based on this assumption, give your opinion on the following different situations regarding the –

• Accounting requirements for the following investment proposals; and

• Presentation of Financial statement for each independent investment proposals of Mr. Thompson.

Situations:

Wholly-Owned Subsidiary

1. Suppose Thompson Inc. purchased all the identifiable assets except cash and goodwill from Panna Corporation and assumed both the current liabilities and long-term liabilities by paying $ 210,000 cash on January 1, 2018.

• Identify the form of business combination and accounting requirements.

• Journal entry/entries required in the book of Thompson Corporation.

• Balance sheet of Thompson Inc. on January 1, 2018 after this purchase.

2. Suppose Thompson Inc. purchased all the outstanding shares of Panna Corporation for $250,000 on January 1, 2018. The amount is paid partly by cash of $125,000 and the rest by issuing 10,000 additional shares at a market value of $12.50 per share. The stock issuance costs amount to $ 5,000. In this situation, you are required to :

• Identify the form of business combination and accounting requirements.

• Journal entry/entries required in the book of Thompson Corporation.

• Consolidated Balance sheet of Thompson Inc. on January 1, 2018 after this purchase.

3. Suppose Thompson Inc. purchased all the outstanding shares of Panna Corporation for $200,000 on January 1, 2013. The amount is paid fully by cash. Legal fees for this purchase amount to $ 5,000. In this situation, you are required to :

• Give Journal entry/entries required in the book of Thompson Corporation.

• Consolidated Prepare Balance sheet of Thompson Inc. on January 1, 2018 after this purchase.

Non-Wholly Owned Subsidiary

4. Suppose, Thompson Inc. purchased 70% of outstanding shares of Panna Corporation for $ 120,000 on January 1, 2018. For non-wholly owned subsidiary, the consolidation of financial statements is a complex system. There will be two groups of shareholders – Controlling and non-controlling. There are many theories for the determination of non-controlling interest (NCI). One acceptable method of consolidating subsidiaries after January 1, 2011, is “Entity Theory”. Under this theory, the full fair value of the subsidiary is determined by combining the fair value of the controlling interest and the fair value of NCI. Another theory for the determination of NCI value is “Parent Company Extension Theory” which is also acceptable method for the valuation of NCI after January 1,2011.Under IFRS, either entity theory or parent company extension theory can be used. It is also stated in IFRS that a gain on a bargain purchase can only be recognized by the acquirer. It means NCI must be measured at its share of fair value of the identifiable net assets. In this situation, you are required to –

• Explain the appropriate theory applicable for NCI valuation.

• Prepare Balance sheet of Thompson Inc. on January 1, 2018 after this purchase.

In: Accounting

Describe the constraints/challenges that physicians experience as being service providers affiliated with a Managed Care Organization....

Describe the constraints/challenges that physicians experience as being service providers affiliated with a Managed Care Organization. (Minimum 2 paragraphs including in-text citations and references in proper APA format)

In: Nursing

How do you think COVID-19 is going to impact Globalization? Post a 250 (absolute minimum) to...

How do you think COVID-19 is going to impact Globalization?

Post a 250 (absolute minimum) to 400-word response using formal citations (APA with web url)

In: Economics