On December 10 of the current year, Gonzalez Corporation (a calendar-year taxpayer) accrues an obligation for a $125,000 bonus to Latasha, a sales representative who had had an outstanding year. Latasha owns no Gonzalez Corporation stock. The bonus is paid on May 5 of the next year.

What is Gonzalez's deduction for the current year? What is Gonzalez's deduction for next year? Explain you answer.

Assume the year runs from January 1 to December 31 for the Year 2018. On May 1, Company DEF (“The Company”) purchased inventories costing $49,000; the Company paid $29,000 in cash and giving a one-year, 9% note for the balance; accrual of interest expense.  On August 1, The Company received $6,000 cash for legal services to be performed evenly throughout the six months period (starting on August 1); and the Company started rendering the legal services on August 1. On November 1, The Company paid $5,400 in cash for one year of the rent in advance.

Prepare the journal entries to record the above transactions on May 1, August 1, and November 1 in box .

Prepare the adjusting entries at 31 December 2018 related to the above transactions in box . Assume straight-line amortization method is applied.

Prepare the journal entries to record the payment of the note on the maturity date in box .

Indicate the manner in which the above transactions should be reflected in the Current Liabilities section of The Company's Statement of Financial Position at 31 December 2018 in box

In Java Please!!!

5.24 LAB: Leap year A year in the modern Gregorian Calendar consists of 365 days. In reality, the earth takes longer to rotate around the sun. To account for the difference in time, every 4 years, a leap year takes place. A leap year is when a year has 366 days: An extra day, February 29th. The requirements for a given year to be a leap year are: 1) The year must be divisible by 4 2) If the year is a century year (1700, 1800, etc.), the year must be evenly divisible by 400 Some example leap years are 1600, 1712, and 2016. Write a program that takes in a year and determines whether that year is a leap year. Ex: If the input is: 1712 the output is: 1712 - leap year Ex: If the input is: 1913 the output is: 1913 - not a leap year

Assume these are the stock market and Treasury bill returns for a 5-year period:

a. What was the risk premium on common stock in each year? (Do not round intermediate calculations. Enter your answers as a percent rounded to 2 decimal places.)

b. What was the average risk premium? (Do not round intermediate calculations. Enter your answer as a percent rounded to 2 decimal places.)

c. What was the standard deviation of the risk premium? (Do not round intermediate calculations. Enter your answer as a percent rounded to 2 decimal places.)

Jones Co. started the year with no inventory. During the year, it purchased two identical inventory items at different times. The first purchase cost $1,170 and the other, $1,500. Jones sold one of the items during the year.

Required
Based on this information, how much product cost would be allocated to cost of goods sold and ending inventory on the year-end financial statements, assuming use of

a. FIFO?
b. LIFO?
c. Weighted average?

The insurance settlement pays you $50,000 in one year, growing at 6$ per year for a total of 10 years.

a. The discount rate is 4%

b. What is the value today?

Acme Corporation uses the calendar year as their fiscal year for reporting purposes. Acme Corporation is owned 100% by Jesse Smith. Jesse Smith is quite wealthy - he has over $3 million in a personal savings account which is currently earning 2 one hundredths of 1% interest (or .0002 rate resulting in $600 per year). He also has many other investments. Acme Corporation has $300,000 of current assets. Acme has Accounts Payable of $40,000 and various Payroll liabilities totaling $109,000. Acme also has a Note Payable in the amount of $800,000. There are no other liabilities. Interest has been paid every year when due on December 31. The Note Payable is due in $200,000 installments on June 30 of each year for the next 4 years. The current interest rate on the note is 4%. However, according to the loan terms, if Acme's current ratio falls below 2, the interest rate will automatically increase to 7%. Since the note is due in installments over the next 4 years, management is presenting the Note on the balance sheet as a long term liability. Is Acme's management reporting their balance sheet appropriately? What recommendations do you have for management? How do these recommendations impact the current ratio?

A 5-year bond with a face value of $1,000 pays a coupon of 4% per year (2% of face value every six months). The reported yield to maturity is 3% per year (a six-month discount rate of 3/2 =1.5%). What is the present value of the bond?