American Italian Pasta Company (AIPC) manufactures several varieties of pasta. On January 1, 2020, AIPC had excess commodity inventories carried at acquisition cost of $1,000,000. These commodities could be sold or manufactured into pasta later in the year. To hedge against possible declines in the value of its commodities inventory, on January 6 AIPC sold commodity futures, obligating the company to deliver the commodities in February for $1,100,000. The futures exchange requires a $20,000 margin deposit. On February 19, the futures price increased to $1,150,000 and the company closed out its futures contract. Spot prices continued to rise and AIPC sold its inventory for $1,175,000 in cash on March 2

Required a. Prepare the journal entries related to AIPC’s futures contract and sale of commodities inventory. Assume a perpetual inventory system, that spot and futures prices move in tandem, and the futures position qualifies for hedge accounting. All income effects for the inventories and related hedges are reported in cost of goods sold.

b. By how much would AIPC’s profit increase if the hedge was not undertaken?

The following transactions relate to the General Fund of the City of Buffalo Falls for the year ended December 31, 2020:

1. Beginning balances were: Cash, $100,000; Taxes Receivable, $200,000; Accounts Payable, $57,500; and Fund Balance, $242,500.
2. The budget was passed. Estimated revenues amounted to $1,300,000 and appropriations totaled $1,296,000. All expenditures are classified as General Government.
3. Property taxes were levied in the amount of $950,000. All of the taxes are expected to be collected before February 2021.
4. Cash receipts totaled $920,000 for property taxes and $315,000 from other revenue.
5. Contracts were issued for contracted services in the amount of $107,500.
6. Contracted services were performed relating to $96,000 of the contracts with invoices amounting to $93,000.
7. Other expenditures amounted to $995,000.
8. Accounts payable were paid in the amount of $1,140,000.
9. The books were closed.

Required:
a. Prepare journal entries for the above transactions.
b. Prepare a Statement of Revenues, Expenditures, and Changes in Fund Balance for the General Fund.
c. Prepare a Balance Sheet for the General Fund assuming there are no restricted or assigned net resources and outstanding encumbrances are committed by contractual obligation.

Is my writing for this email correct?

I mean academy and grammar. (you can edit and add any sentence)

Dear Prof. Joseph,

I hope you are doing well.

As you know that the circumstances of the Corona pandemic caused the borders to close and the suspension of international flights, which led to my delay in coming to my mission headquarters in Britain, in addition to that the University of Manchester has been largely closed to students since March 2020. I need a letter from you indicating that I am in constant contact with you during The Coronavirus pandemic with regard to research topics and that we have started albeit in a small way, to develop initial plans for a PhD research project because I am facing an obstacle and questions why I have not started the PhD program yet and this will really help me clarify that, in addition to speeding up the procedures for opening a new scholarship file by my sponsor and then Final financial guarantee application and submit it to the university.

I hope you will understand my situation and help me with that.

Best regards

Lama

The following transactions relate to the General Fund of the City of Buffalo Falls for the year ended December 31, 2020:

1. Beginning balances were: Cash, $93,000; Taxes Receivable, $189,500; Accounts Payable, $52,250; and Fund Balance, $230,250.
2. The budget was passed. Estimated revenues amounted to $1,230,000 and appropriations totaled $1,227,400. All expenditures are classified as General Government.
3. Property taxes were levied in the amount of $915,000. All of the taxes are expected to be collected before February 2021.
4. Cash receipts totaled $885,000 for property taxes and $297,500 from other revenue.
5. Contracts were issued for contracted services in the amount of $95,250.
6. Contracted services were performed relating to $85,500 of the contracts with invoices amounting to $83,900.
7. Other expenditures amounted to $963,500.
8. Accounts payable were paid in the amount of $1,092,500.
9. The books were closed.

Required:
a. Prepare journal entries for the above transactions.
b. Prepare a Statement of Revenues, Expenditures, and Changes in Fund Balance for the General Fund.
c. Prepare a Balance Sheet for the General Fund assuming there are no restricted or assigned net resources and outstanding encumbrances are committed by contractual obligation.

Type or paste question hereiole Ltd., a private company reporting under ASPE, reported the following for the years ended May 31, 2021, and 2020.

Prepare a cash flow statement for the year using the indirect method

Carla Vista Ltd., a private company reporting under ASPE, reported the following for the years ended May 31, 2021, and 2020.

Prepare a cash flow statement for the year using the indirect method

Can you please solve this problem. The correct answer that should be found is below. Thank You

Early in 2015, Logan Corporation engaged Reese, Inc. to design and construct a complete modernization of Logan's manufacturing facility. Construction was begun on January 1, 2015 and was completed on December 31, 2015. Logan made the following payments to Reese, Inc. during 2015:

In order to help finance the construction, Logan issued $2,000,000 of 10-year, 9% bonds payable, issued at par on January 2, 2015, with interest payable annually on December 31.

In addition to the 9% bonds payable, the only debt outstanding during 2015 was a $500,000, 12% note payable dated January 1, 2010 and due January 1, 2020, with interest payable annually on January 1 and a $1,000,000, 10% bond payable dated July 1, 2011 due June 30, 2021 with interest paid annually.

Compute the interest to be capitalized in 2015. Logan uses the specific interest method. Show computations. The correct answer should be $244,200