French Bread Chocolates developed the following quarterly sales forecasting model:
Sales = 8.50 + 0.150 TIME - 2.70 Q1 + 1.20 Q2 + 3.5 Q3
where TIME is time period. (time is zero in the fourth quarter of 2009, time is 1 in the first quarter of 2010 and 2 in the second quarter of 2010 etc.) and Q1, Q2, and Q3 are quarterly dummy variables.
Forecast French Broad Chocolate's sales for each quarter of 2022.
In: Economics
Roman Company had the following stockholders’ equity as of January 1, 2010.
Common Stock, $2 par value, 50,000 shares issued $100,000
Paid-in capital in excess of par $300,000
Paid-in capital Treasury Stock $ 1,000
Retained earnings $319,000
Total stockholder’s equity $720,000
During 2010, the following transactions occurred:
Jan 31 Roman issued 5,000 shares of common stock at $10 per share.
Feb 25 Roman repurchased 1,900 shares of treasury stock at a price of $18 per share.
Mar 2 1,200 shares of treasury stock repurchased above were reissued at $16 per share.
Apr 22 500 shares of treasury stock repurchased above were reissued at $25 per share.
Apr 24 A 5% stock dividend was declared (the market price of the stock was $14)
Apr 25 The 5% stock dividend was distributed ( market price of the stock was still $14)
Required:
Prepare the journal entries to record the stock transactions in 2010, assuming Roman uses the cost method to account for treasury stock.
How many shares of common stock were outstanding as of April 30, 2010?
In: Accounting
| WEYERHAEUSER COMPANY* | |||
| CONSOLIDATED STATEMENT OF OPERATIONS | |||
| for the three-year ended December 31, 2010 | |||
| DOLLAR AMOUNTS IN MILLIONS, EXCEPT PER SHARE FIGURES | |||
| 2010 | 2009 | 2008 | |
| Net sales and revenues | $ 6,552 | $ 5,528 | $ 8,100 |
| Cost of products sold | $ 5,392 | $ 5,127 | $ 7,508 |
| Gross margin | $ 1,160 | $ 401 | $ 592 |
| Selling, general and administrative expenses | $ 677 | $ 709 | $ 996 |
| Research and development expenses | $ 34 | $ 51 | $ 66 |
| Alternative fuel mixture credits (Note 21) | $ - | $ (344) | $ - |
| Charges for restructuring, closures and impairments (Note 19) | $ 149 | $ 698 | $ 2,118 |
| Other operating costs (income), net (Note 20) | $ (168) | $ (266) | $ 13 |
| Operating income (loss) | $ 468 | $ (447) | $ (2,601) |
| Interest income and other | $ 83 | $ 74 | $ 366 |
| Impairment of investments and other related charges (Note 19) | $ (3) | $ (7) | $ (160) |
| Interest expense, net of capitalized interest | $ (452) | $ (462) | $ (414) |
| Earnings (loss) from continuing operations before income taxes | $ 96 | $ (842) | $ (2,809) |
| Income tax benefit (Note 21) | $ 1,187 | $ 274 | $ 900 |
| Earnings (loss) from continuing operations | $ 1,283 | $ (568) | $ (1,909) |
| Earnings from discontinued operations, net of income taxes (Note 4) | $ - | $ - | $ 667 |
| Net earnings (loss) | $ 1,283 | $ (568) | $ (1,242) |
| Less: net (earnings) loss attributable to noncontrolling interests | $ (2) | $ 23 | $ 66 |
| Net earnings (loss) attributable to Weyerhaeuser common shareholders | $ 1,281 | $ (545) | $ (1,176) |
| Basic earnings (loss) per share attributable to Weyerhaeuser common shareholders (Note 5): | |||
| Continuing operations | $ 4.00 | $ (2.58) | $ (8.72) |
| Discontinued operations | $ - | $ - | $ 3.15 |
| Net earnings (loss) per share | $ 4.00 | $ (2.58) | $ (5.57) |
| Diluted earnings (loss) per share attributable to Weyerhaeuser common shareholders (Note 5): | |||
| Continuing operations | $ 3.99 | $ (2.58) | $ (8.72) |
| Discontinued operations | $ - | $ - | $ 3.15 |
| Net earnings (loss) per share | $ 3.99 | $ (2.58) | $ (5.57) |
| Dividends paid per share (Note 2) | $ 26.61 | $ 0.60 | $ 2.40 |
| Weighted average shares outstanding (in thousands) (Note 5) | |||
| Basic | 319,976 | 211,342 | 211,258 |
| Diluted | 321,096 | 211,342 | 211,258 |
| CONSOLIDATED BALANCE SHEET (In Part) | |||
| LIABILITIES AND EQUITY | |||
| Dollar amounts in millions, except per-share figures | |||
| 12/31/10 | 12/31/09 | ||
| Total liabilities | $ 8,815 | $ 11,196 | |
| Equity: | |||
| Weyerhaeuser shareholders' interest (Notes 2, 17, and 18): | |||
| Common shares: $1.25 per par value, authorized | |||
| 1,360,000,000 and 400,000,000 shares; issued and | |||
| outstanding: 535,975,518 and 211,358,955 shares | $ 670 | $ 264 | |
| Other capital | $ 4,552 | $ 1,786 | |
| Retained earnings | $ 181 | $ 2,658 | |
| Cumulative other comprehensive loss | $ (791) | $ (664) | |
| Total Weyerhaeuser shareholders' interest | $ 4,612 | $ 4,044 | |
| Noncontrolling interests | $ 2 | $ 10 | |
| Total equity | $ 4,614 | $ 4,054 | |
| Total liabilities and equity | $ 13,429 | $ 15,250 | |
| CONSOLIDATED STATEMENT OF CHANGES IN EQUITY AND | |||
| COMPREHENSIVE INCOME (In Part) | |||
| FOR THE THREE-YEAR PERIOD ENDED DECEMBER 31, 2010 | |||
| DOLLAR AMOUNTS IN MILLIONS | |||
| 2010 | 2009 | 2008 | |
| Common Shares: | |||
| Balance at beginning of year | $ 264 | $ 264 | $ 262 |
| Issued for exercise of stock options | $ 1 | $ - | $ - |
| Retraction or redemption of exchangeable shares | $ - | $ - | $ 2 |
| Special Dividend (Note 17) | $ 405 | $ - | $ - |
| Balance at end of year | $ 670 | $ 264 | $ 264 |
|
Required: 2. How many shares of common stock were outstanding as of December 31, 2010? 3. What share number is used to compute basic earnings per share for 2010? Describe the computation of this number. 4. What share number was used to compute diluted earnings per share for 2010? Describe the computation of this number. 5. Why the substantial difference in shares outstanding at December 31, 2010 and the weighted average shares outstanding at December 31, 2010? b. What earnings per share number would analysts likely put more emphasis on for the year-end period ended December 31, 2010? c. Compute the book value for December 31, 2010. |
|
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In: Accounting
How did Iran become a nuclear power- how did they get this technology - fission technology and missile technology?
In: Economics
A circuit consists of a large electromagnet that has an inductance of 52.0 H and a resistance of 8.00 ?, a dc 270 V power source, and an open switch - all connected in series.
A) How long after the switch is closed is the current equal to 10.5 A?
B) How long after the switch is closed is the current equal to 31.9 A?
In: Physics
Blue Spruce Company uses special strapping equipment in its packaging business. The equipment was purchased in January 2019 for $5,100,000 and had an estimated useful life of 8 years with no salvage value. At December 31, 2020, new technology was introduced that would accelerate the obsolescence of Blue Spruce’s equipment. Blue Spruce’s controller estimates that expected future net cash flows on the equipment will be $3,187,500 and that the fair value of the equipment is $2,805,000. Blue Spruce intends to continue using the equipment, but it is estimated that the remaining useful life is 4 years. Blue Spruce uses straight-line depreciation.
What is the carrying value of the equipment at December 31, 2020?
| Carrying value | $ |
Prepare the journal entry (if any) to record the impairment at December 31, 2020. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.)
Account Titles and Explanation | Debit | Credit | |
| Dec. 31 | loss on impairement | 1,020,00 | |
| accum. dep-equip | 1,020,000 |
Prepare any journal entries for the equipment at December 31, 2021. The fair value of the equipment at December 31, 2021, is estimated to be $2,932,500. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.)
Date | Account Titles and Explanation | Debit | Credit |
Dec. 31 | |||
Prepare the journal entry (if any) to record the impairment at December 31, 2020. assuming that Blue Spruce intends to dispose of the equipment and that it has not been disposed of as of December 31, 2021. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.)
Date | Account Titles and Explanation | Debit | Credit |
12/31/20 | |||
Date | Account Titles and Explanation | Debit | Credit |
12/31/21 | |||
In: Accounting
Your company's CEO is concerned that the large, mature business is falling behind in its level of innovation and organizational learning. He would like to promote increased intrapreneurship and has asked for ideas. Prove two viable suggestions you would give the CEO.
In: Economics
“ Theory without practice is lame practice without theory is
blind “ anonymous .
It stand to reason ; therefore that entrepreneurship as a
discipline must be supported by theories .
a. Define what is a theory and it’s importance to the entrepreneur .
b. List and explain characters of innovation of Theory of Joseph schumpeter
In: Economics
Consider the customer journey at flying for business with Etihad Airlines. Name possible waste categories and propose five ways to reduce waste in the process (5 points). Propose five means to engage employees to continuous improvement, innovation and seek for excellence (5 points).
In: Operations Management
Identify McDonald's competitive advantage in its
primary industry. (its primary industry is the one in which it has
the most sales).
Evaluate McDonald's against the four generic building blocks of
competitive advantage:
-efficiency
-quality
-innovation and
-responsiveness to customers.
(preferably typed)
In: Operations Management