Mercer Corporation acquired $400,000 of Park Company’s bonds on June 30, 2018, for $409,991.12. The bonds carry a 12% stated interest rate and pay interest semiannually on June 30 and December 31. The appropriate market interest rate is 11%, and the bonds are due June 30, 2021.

Required:

During 2018, Karan acquired the following assets for use in her sole proprietorship: Asset Cost Date Place in ServiceComputers & Info. System $400,00003/31/2018Assembly Equipment1,200,00008/15/2018Warehouse 700,00011/13/2018

a. What is the maximum amount of cost recovery Karen can claim with respect to these assets in 2018?

b. What is each asset’s adjusted basis as of December 31, 2018?

c. Assume Karan sells the warehouse on May 5, 2020. What will Karan’s adjusted basis in the warehouse be for purposes of determining her gain or loss on the sale?

Mercer Corporation acquired $400,000 of Park Company’s bonds on June 30, 2018, for $409,991.12. The bonds carry a 12% stated interest rate and pay interest semiannually on June 30 and December 31. The appropriate market interest rate is 11%, and the bonds are due June 30, 2021.

Required: 1. Prepare an investment interest income and premium amortization schedule, using the:

a. straight-line method

b. effective interest method

2. Prepare journal entries to record the December 31, 2018, and December 31, 2020, interest receipts using both methods.

a.  Suppose that 33% of American CEO's are women. Furthermore, suppose that 17% of American CEO's are women under the age of 40. Given that a randomly selected American CEO is a woman, what is the probability that she is under the age of 40?

Round your answer to three decimal places.

Probability =

b. The probability that the head of a U.S. household has a life insurance policy is 0.640. Moreover, the probability that the head of a U.S. household has a life insurance policy and is over the age of 50 is 0.400. Given that a randomly selected head of a U.S. household has a life insurance policy, what is the probability that he/she is over the age of 50?

Round your answer to three decimal places.

Probability =

c. Suppose that 33% of customers purchase peanut butter during a particular trip to the grocery store. Furthermore, 18% of grocery store customers purchase both peanut butter and jelly. Given that a random grocery store customer purchases peanut butter, what is the probability that he/she also purchases jelly during this trip?

Round your answer to three decimal places.

Probability =

d. In a particular convenience store, the probability that a customer will purchase beer is 0.380. Moreover, given that the customer has purchased beer, the probability that he/she will purchase pretzels is 0.280. What is the probability that a random customer in this convenience store will purchase beer and pretzels together?

Round your answer to three decimal places.

Probability =

23. a. Suppose that 42% of American CEO's are women. Furthermore, suppose that 24% of American CEO's are women under the age of 40. Given that a randomly selected American CEO is a woman, what is the probability that she is under the age of 40?

Round your answer to three decimal places. Probability = ????

b. The probability that the head of a U.S. household has a life insurance policy is 0.510. Moreover, the probability that the head of a U.S. household has a life insurance policy and is over the age of 50 is 0.420. Given that a randomly selected head of a U.S. household has a life insurance policy, what is the probability that he/she is over the age of 50?

Round your answer to three decimal places. Probability = ????

c. Suppose that 21% of customers purchase peanut butter during a particular trip to the grocery store. Furthermore, 19% of grocery store customers purchase both peanut butter and jelly. Given that a random grocery store customer purchases peanut butter, what is the probability that he/she also purchases jelly during this trip?

Round your answer to three decimal places. Probability = ????

d. In a particular convenience store, the probability that a customer will purchase beer is 0.360. Moreover, given that the customer has purchased beer, the probability that he/she will purchase pretzels is 0.200. What is the probability that a random customer in this convenience store will purchase beer and pretzels together?

Round your answer to three decimal places. Probability =????

You have just begun a new stage in your career—you have been hired to be the Human Resources (HR) Manager for Berkley Innovative Technologies. Upon meeting the CEO, she described how the company’s workforce demographics have changed substantially over the past two decades. Previous HR managers, along with many supervisors, have mostly been Caucasian males ranging in age between 50s and early 60s, and typically from a Judeo-Christian background. The CEO also indicated that workplace strife has been steadily increasing, and her team is concerned that it may be related to the changing demographics in the workforce.

The CEO has tasked you with creating an educational manual to be utilized in training the existing front-line supervisors. This will be followed with sensitivity training to help all employees understand the complexities of the changing workforce and what it means for the future.

Diversity Training Manual: Part I (2–3 pages)

Part I of the training manual should address the following:

• Title page
• Table of contents
• Part I is to be titled: Introduction to Diversity and Demographics in the Workforce
• Begin your manual with a brief explanation of each form of discrimination (religion, race, gender, age, and immigrant vs. native-born) as it relates to the workplace.
• Part 1 will conclude with information on the sections below regarding the demographics of the U.S. population:
  • Sections:
    • Current statistics
    • Recent trends
    • Forecasted trends
  • Information for this question can be located using some or all of the Web sites listed below. You are not limited to the resources provided and may use additional outside materials for this section if needed. Be sure to properly cite all work.
    • Web site 1  https://www.pewresearch.org/hispanic/2008/02/11/us-population-projections-2005-2050/
    • Web site 2 https://www.bls.gov/cps/demographics.htm
    • Web site 3  https://www.pewforum.org/2015/05/12/americas-changing-religious-landscape/
    • Web site 4 https://www.brookings.edu/blog/the-avenue/2018/03/14/the-us-will-become-minority-white-in-2045-census-projects/
• Then, address the following information as it relates to diversity in the workforce:
  • The customs and values of 2 of the largest minority races or religions in the workforce (e.g., the dramatic increase in the Hispanic and Muslim percentage of the workforce)
  • The need for sensitivity to their differing values and customs
  • Legislation affecting supervisor regulations relating to these groups

Diversity Training Manual: Part II (1–2 pages)

As the new HR Manager, you are now ready to complete the next section of the diversity training manual that is targeted at making your workforce supervisors more aware of current racial diversity issues, explaining how the supervisors should address them. The goal of this section is to supply information to reduce potential tensions in the workplace among a racially diverse body of employees.

Part II is to be titled: Historical Issues of Different Races in the Workplace and How to Handle Them

• This section should discuss the following:
  • Racial diversity in the workforce now and how it will look in the future, based on the U.S. population's racial demographic changes
  • Specific issues that create tensions in the workplace between different groups
  • How leaders and supervisors need to address these potential issues
    • Potential areas of focus for this part could include, but are not limited to, the following:
      • Adopting a more diverse definition of diversity
      • Using technology such as AI to avoid unconscious bias
      • Sourcing candidates with nontraditional credentials
      • Testing diversity initiatives with data
      • Standardizing the interview process to reduce bias

Diversity Training Manual: Part III (2–3 pages)

The CEO indicated that gender issues are also of great concern for her in moving the company forward. With an overwhelming amount of men at the company, she wants to avoid any potential gender issues when writing job requirements, hiring employees, and interactions in the workplace. For this section, specifically address these 3 gender issues, and provide suggestions as to how to raise the sensitivity of all supervisors regarding these issues. Be certain to address concerns such as: Can the supervisor hand out work assignments that he or she feels are better suited to different genders? Can he or she write a job requirement that only one gender can meet, such as a strength requirement?

Part III is to be titled: Overcoming Gender Issues in the Workforce

• This section of the manual must, at a minimum, address the following information:
  • A few general facts about the U.S. population's gender mix and the gender mix found in notable segments of the workforce
    • Make sure to include all sources of information.
  • Address the 3 gender issues raised by the CEO, and provide suggestions on how to raise the sensitivity of all supervisors regarding these issues.
  • The essence and applicability of the landmark Griggs v. Duke Power case dealing with stated job requirements should be addressed
    • Click here to read the Griggs v. Duke Power case.
  • Describe state minimum job requirements when requesting new employees to be hired into the department
  • Explain how the supervisor might communicate to his or her department (of all male employees) when a female is about to become part of the work team

. Complete the required tasks utilizing excel and label everything. All work must be shown

FKG Inc. carries the following debt and equity securities on its books at December 31, 2020. All securities were purchased during 2020.

Trading Securities

Company                                                                   Cost                            Fair Value, 12/31/20        Fair Value, 12/31/21

Company A Investment                                      $ 25,000                $ 13,000                                  $ 20,000

Company B Investment                                      $ 13,000                $ 20,000                                  $ 20,000

Company C Investment                                      $ 35,000                $30,000                                   $ 25,000

Available-for-Sale Securities

Company                                                                     Cost                          Fair Value, 12/31/20        Fair Value, 12/31/21

Company X Investment                                      $210,000              $130,000                                $ 50,000

Company Y Investment                                       $ 50,000                $60,000                                   $ 70,000

Bonita Company purchased machinery on January 1, 2020, for $87,200. The machinery is estimated to have a salvage value of $8,720 after a useful life of 8 years.

Compute 2020 depreciation expense using the double-declining-balance method.

Compute 2020 depreciation expense using the double-declining-method method assuming the machinery was purchased on September 1, 2020.

Analyzing Accounts and Notes Receivable; Computing Interest, Estimating Value, and Recording Bad Debts

Analyze each of the four separate scenarios and answer the requirements.

Note: Round each of your answers to the nearest whole dollar.

1. On December 31, 2020, Helena Company, a California real estate firm, received two $28,000 notes from customers in exchange for services rendered. The 8% note from El Dorado Company is due in nine months, and the 3% note from Newcastle Company is due in five years. The market interest rate for similar notes on December 31, 2020, was 8%. At what amounts should the two notes be reported in Helena’s December 31, 2020, balance sheet?

2. EPPA, an environmental management firm, issued to Dara, a $14,000, 8%, five-year installment note that required five equal annual year-end payments. This note was discounted to yield a 9% rate to Dara. What is the total amount of interest revenue to be recognized by Dara on this note?

3. On July 1, 2020, Lezix Company, a maker of denim clothing, sold goods in exchange for a $140,000, one-year, noninterest-bearing note. At the time of the sale, the market rate of interest was 12% on similar notes. At what amount should Lezix record the note receivable on July 1, 2020?

4. The records of Quest Company included the following accounts (with normal balances).

The company estimates bad debts as 2% of receivables at year-end to be uncollectible.

Prepare the adjusting entry at December 31, 2020, to adjust the allowance for doubtful accounts.

Which statement below is correct when the exchange rate increases for U.S. dollars per one Euro?