Bramble Inc. reports the following pretax income (loss) for both book and tax purposes.

Prepare the journal entries for years 2018–2021 to record income tax expense (benefit) and income taxes payable (refundable), and the tax effects of the loss carry forward, assuming that based on the weight of available evidence, it is more likely than not that one-half of the benefits of the loss carry forward will not be realized.

Prepare the income tax section of the 2020 income statement beginning with the line “Operating loss before income taxes.”

Prepare the income tax section of the 2021 income statement beginning with the line “Income before income taxes.”

The tax rates listed were all enacted by the beginning of 2018.

As of December 31, 2009, a company’s assets consisted of $60,000 of cash, $120,000 of marketable securities, $200,000 of accounts receivable, $300,000 of inventory, and $1,200,000 of net plant and equipment. Its liabilities consisted of $50,000 of accounts payable, $20,000 of accruals, $70,000 of notes payable, and $600,000 of long-term debt. As of December 31, 2010, the company’s assets consisted of $70,000 of cash, $140,000 of marketable securities, $250,000 of accounts receivable, $400,000 of inventory, and $1,300,000 of net plant and equipment. Its liabilities consisted of $65,000 of accounts payable, $15,000 of accruals, $75,000 of notes payable, and $600,000 of long-term debt. In 2010, the company’s annual sales were $4,700,000, earnings before interest and taxes were $800,000, it paid $60,000 of interest, and its tax rate was 30%. The company’s weighted average cost of capital is 11% per year and it has 500,000 shares of common stock outstanding. The company expects its free cash flow to grow forever at a rate of 6% per year. Estimate the value per share of the company’s common stock.

The following information is taken from the accounts of Latta Company. The entries in the T-accounts are summaries of the transactions that affected those accounts during the year.

The overhead that had been applied to production during the year is distributed among Work in Process, Finished Goods, and Cost of Goods Sold as of the end of the year as follows:

For example, of the $58,000 ending balance in work in process, $27,840 was overhead that had been applied during the year.

Required:

1. Identify reasons for entries (a) through (d).

2. Assume that the underapplied or overapplied overhead is closed to Cost of Goods Sold. Prepare the necessary journal entry.

3. Assume that the underapplied or overapplied overhead is closed proportionally to Work in Process, Finished Goods, and Cost of Goods Sold. Prepare the necessary journal entry.

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

Required 1

Required 2

Required 3

Identify reasons for entries (a) through (d).

Assume that the underapplied or overapplied overhead is closed to Cost of Goods Sold. Prepare the necessary journal entry. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)

Journal entry worksheet

Record the adjustment of manufacturing overhead account to COGS.

Note: Enter debits before credits.

Assume that the underapplied or overapplied overhead is closed proportionally to Work in Process, Finished Goods, and Cost of Goods Sold. Prepare the necessary journal entry. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Do not round intermediate calculations.)

Journal entry worksheet

Record the allocation of any balance in the manufacturing overhead account to other accounts.

Note: Enter debits before credits.

1. ABC Company is planning for 2021 financial performance. 2020 total sales were $6,000,000. Monthly fixed costs for the firm for 2020 averaged $260,000 and are expected to increase by 8% for 2021. The variable cost ratio for 2020 averaged 40% and is expected to increase to 42% for 2021. The firm's average tax rate for 2020 was 30% and is expected to remain the same for 2021. The firm incurs no interest expense.

Required: (show your work below and write your final answer for each question on the line provided)

1. Calculate annual breakeven sales (revenue) for 2020 and 2021

2. Calculate the actual net operating income (NOI) and the after tax income for 2020 and 2021 assuming there is no change in sales for 2021.

3. It is management's goal to have operations produce a NOI / Sales ratio of 12% for 2021. Given the data above what level of 2021 sales are needed to reach the 12% NOI / Sales ratio?

In C write a program that asks the user for the dimensions of 3 sides of a triangle. Each side dimension must be between 1.00 and 100.00 including 1.00 and 100.00. If the side dimensions indeed can make a valid triangle then the program should use these values to determine the perimeter and the area of the valid triangle

1. Must use programmer define functions 2. Your program must have at least 4 functions, main and the following 3 functions: o Function to validate the range of values required for each side o Function to validate if the triangle is a valid triangle o Function to calculate the area 3. These functions must be written as generic as possible. They must not display anything 4. Must use C math functions 5. Input values must be between 1.00 and 100.00 including 1.00 and 100.00 6. Only one digits after the decimal point for your output

Take two identical closed strings, both tracing out exactly the same path in space. These two strings are coincident everywhere. Call this state I.

Take a single closed string following exactly the same closed path as in the first case, but not closing just yet. The string goes around exactly the same path once again before closing in on itself. Two cycles around the same closed path. Call this state II.

String field theory tells us unambiguously states I and II are distinct.

Stretch this closed path to make it much larger than the string scale. Supposedly, stringy nonlocality only happens at the string scale. States I and II still differ.

Partition target space into local regions the size of the string scale. The path cuts across a chain of such local regions. If string theory were local, we can reconstruct the state of the entire universe from the restricted states of each subregion if we allow for quantum entanglement between regions. Locally, states I and II ought to be indistinguishable over each local region. For each local region, we always see two string segments passing through it. Thus, states I and II have to be identical?

This can't be. Either string theory is inherently nonlocal over scales much larger than the string scale, or it obeys Maxwell-Boltzmann statistics and not Bose-Einstein statistics.

This isn't some Aharonov-Bohm effect. Even if we include all the local regions in the "interior" of the closed loop, this doesn't change matters the least bit.

PS. Please reread my question more carefully. What you call configuration III is actually my configuration I.

PPS: Let me try to understand your explanation. If we have N coincident strings, or a string which winds round the same loop N times or any other combination in between, this can be described by an SN discrete gauge symmetry. The conjugacy class of the holonomy of this discrete gauge symmetry around the loop distinguishes between the various combinations. Feel free to correct me if I am wrong. This has the flavor of parastatistics, does it not?

Analyzing and Interpreting Restructuring Costs and Effects
Hewlett-Packard, Inc., reports the following footnote disclosure (excerpted) in its 2010 10-K relating to its restructuring programs.

Fiscal 2010 Acquisitions: On July 1, 2010, HP completed the acquisition of Palm and initiated a plan to restructure the operations of Palm, including severance for Palm employees, contract cancellation costs and other items.

The total expected cost of the plan is $46 million.

On April 12, 2010, HP completed the acquisition of 3Com. In connection with the acquisition, HP's management approved and initiated a plan to restructure the operation of 3Com, including severance costs and costs to vacate duplicative facilities.

The total expected cost of the plan is $42 million.

In fiscal 2010, HP recorded restructuring charges of approximately $18 million.

Fiscal 2010 ES Restructuring Plan: On June 1, 2010, HP's management announced a plan to restructure its enterprise services business. The total expected cost of the plan that will be recorded as restructuring charges is approximately $1.0 billion, including severance costs to eliminate approximately 9,000 positions and infrastructure charges. For fiscal 2010, a restructuring charge of $650 million was recorded primarily related to severance costs. As of October 31, 2010, approximately 2,100 positions have been eliminated.

Fiscal 2009 Restructuring Plan: In May 2009, HP's management approved and initiated a restructuring plan to structurally change and improve the effectiveness of several businesses. The total expected cost of the plan is $292 million in severance-related costs associated with the planned elimination of approximately 5,000 positions. As of October 31, 2010, approximately 4,200 positions had been eliminated.

Fiscal 2008 HP/EDS Restructuring Plan: In accordance with the acquisition of EDS on August 26, 2008, HP's management approved and initiated a restructuring plan to combine and align HP's services businesses, eliminate duplicative overhead functions and consolidate and vacate duplicative facilities. The restructuring plan is expected to be implemented over four years at a total expected cost of $3.4 billion.

The adjustments to the accrued restructuring expenses related to all of HP's restructuring plans described above for the twelve months ended October 31, 2010 were as follows:

(a) Which of the following in NOT an example of a common non-cash charge associated with corporate restructuring activities?

Inventory revaluations

Fixed-asset write-downs

Impairment charges on intangible assets

Severance paid to employees

(b) Using the financial statement effects template, show the effects on financial statements of the (1) 2010 restructuring charge of $1,138 million, and (2) 2010 cash payment of $1,316 million.

Use negative signs with your answers, when appropriate.

Hands Insurance Company issued a $90 million, 1-year, zero-coupon note at 8 percent add-on annual interest (paying one coupon at the end of the year). The proceeds were used to fund a $100 million, 2-year commercial loan at 10 percent annual interest. Immediately after these transactions were simultaneously closed, all market interest rates increased 1.5 percent (150 basis points).

a. What is the true market value of the loan investment and the liability after the change in interest rates? (with the method of solution)

List three main sources of innovation and provide examples of the banking industry's responses to each.

How can financial innovation lead to financial crises? Apply this topic to your life.