A. A company acquired a new high-tech printing press on January 1, 2016, for $90,000. At that time, the company estimated the press would have a six-year life and salvage value of $6,000. The company uses the straight-line depreciation method for all its equipment. In December 2017, a newer high-tech printing press is introduced in the market. The company controller is concerned that the value of the press may be impaired. The controller has provided you with the following data as of December 2017 and asked you to determine if there is any impairment using US GAAP or IFRS. If there is any impairment, please provide the journal entries. Additionally, as part of the 2018 budget process, the controller has asked you to calculate depreciation expense of the press using both US GAAP and IFRS. (6)

Scrap value should be reduced to $4,000.

Expected future undiscounted cash flows from operating the press are $51,000.

Discounted net present value of expected cash flows from the press is $49,000.

Fair value of the press at December 31, 2017, is $45,000 and selling costs are minimal.

B. Use the same facts as problem A above, except assume that at December 31, 2018, the controller asks what, if any, impairment reserve can be reversed using US GAAP and IFRS, because the controller concludes the press is not impaired at December 31, 2018. The controller has told you to assume the scrap value should remain $4,000.

One reform idea that is often floated in the US is the use of Medical Savings Accounts (MSA’s) in conjunction with high-deductible insurance plans (sometimes called catastrophic coverage). Individuals could deposit pre-tax dollars into their MSA and use the money to pay for out-of-pocket medical expenses. If unused, the MSA money simply becomes savings for the individual. a. What is a high-deductible plan? b. What are the pros and cons of such a plan?

Identify the fallacies of insufficient evidence in the following arguments. If no fallacy is committed, write “no fallacy.

9. Either you support preferential treatment for disadvantaged minorities in university admissions, or you’re a racist. But surely, you’re not a racist. Therefore, you support preferential treatment for disadvantaged minorities in university admissions.

11. Students have asked that we extend residence hall visitation hours by one hour on Friday and Saturday nights. This request will have to be denied. If we give students an extra visitation hour on weekends, next they’ll be asking us to allow their boyfriends and girlfriends to stay over all night. Eventually, we’ll have students shacking up in every room.

13. A Saint Bernard is large, cuddly, furry, and makes a great house pet. A baby grizzly bear is also large, cuddly, and furry. Therefore, a baby grizzly bear would make a great house pet, too. 15. You’re not seriously thinking of voting for that bum, are you? Why don’t you wake up and smell the coffee?

The SEC dropped the requirement that foreign private issuers who list in the U.S. have to reconcile their earnings to US GAAP for FPIs that use IFRS as published by the SEC in English. What are some of the reasons the SEC took this step? Consider implications, including costs, for companies that report on multiple stock markets. Additionally, what are potential implications of this action for users of financial statements, such as US investors?

Chapter 6- Question # 2 e, f

Researchers have collected data from a random sample of six students on the number of hours spent studying for an exam and the grade received on the exam as given in Table 6.5.

Table 6.5

e) Find and interpret a 99% confidence interval for the predicted grade for an individual who spends 10 hours studying.

f) Find and interpret a 99% confidence interval for the mean grade of all individuals who spend 10 hours studying.

PLEASE READ CAREFULLY,

Conduct an internet search (google, Yahoo, Bing, etc.), to find a diversity plan of a national (as opposed to local or regional) company.

After reading it, create a post that tells us who the company is, and share something specific about it that you found surprising or interesting.

At the end of your post, paste the url that we could follow if we wanted to see the plan ourselves. (When you are on the webpage that contains the plan, go to the address bar and right-click; that should allow you to copy the url and then paste it into your post.)

PLEASE MAKE IT YOUR OWN RESEARCH, PLEASE DO NOT RESUBMIT ANOTHER STUDENT WORK YOU DID BEFORE. THANK YOU IN ADVANCE.

1. Who really is to blame For the increase in obesity among US children?
2. Under your current consumer protection laws, is fast food marketing aimed at children misleading?

For Karl Marx, what we do is who we are. However, under advanced capitalism that is only true of a very few of us. According to Marx, under capitalism, work has become something that you do, not who you are. Capitalism has thus robbed us of ourselves.

How does the film Happiness by Steven Cutts reflects Karl Marx's discussion of alienation and how does it relate to you own life? How can we use Karl Marx's ideas about alienation and inequality to make sense of our own lives and to come up with alternative visions of how we could live instead?

On April 1, Jiro Nozomi created a new travel agency, Adventure Travel. The following transactions occurred during the company’s first month.

The company's chart of accounts follows:

Use the following information:

1. Prepaid insurance of $133 has expired this month.
2. At the end of the month, $800 of office supplies are still available.
3. This month’s depreciation on the computer equipment is $500.
4. Employees earned $450 of unpaid and unrecorded salaries as of month-end.
5. The company earned $2,150 of commissions that are not yet billed at month-end.

Required:
1. & 2. Prepare journal entries to record the transactions for April and post them to the ledger accounts in Requirement 6b. The company records prepaid and unearned items in balance sheet accounts.
3. Using account balances from Requirement 6b, prepare an unadjusted trial balance as of April 30.
4. Journalize the adjusting entries for the month and prepare the adjusted trial balance.
5a. Prepare the income statement for the month of April 30.
5b. Prepare the statement of owner's equity for the month of April 30.
5c. Prepare the balance sheet at April 30.
6a. Prepare journal entries to close the temporary accounts and then post to Requirement 6b.
6b. Post the journal entries to the ledger.
7. Prepare a post-closing trial balance.

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

• Req 1 and 2
• Req 3
• Req 4 Adj Entries
• Req 4 Adj Trial Bal
• Req 5A
• Req 5B
• Req 5C
• Req 6A
• Req 6B GL
• Req 7

Using account balances from Requirement 6b, prepare an unadjusted trial balance as of April 30.

ournalize the adjusting entries for the month, and then post to the ledger on Req 6B tab, using April 30 Adj. as the date. (Do not round intermediate calculations and round the final answers to nearest whole number.)

Journal entry worksheet

• Prepaid insurance of $133 has expired this month.

Note: Enter debits before credits.

• eq 4 Adj Trial Bal
• Req 5A
• Req 5B
• Req 5C
• Req 6A
• Req 6B GL
• Req 7

Using adjusted account balances from Requirement 6b, prepare an adjusted trial balance as of April 30.