On January 1, 2016, Cayce Corporation acquired 100 percent of Simbel Company for consideration transferred with a fair value of $141,300. Cayce is a U.S.-based company headquartered in Buffalo, New York, and Simbel is in Cairo, Egypt. Cayce accounts for its investment in Simbel under the initial value method. Any excess of fair value of consideration transferred over book value is attributable to undervalued land on Simbel’s books. Simbel had no retained earnings at the date of acquisition. Following are the 2017 financial statements for the two operations. Information for Cayce and for Simbel is in U.S. dollars ($) and Egyptian pounds (£E), respectively.

During 2016, the first year of joint operation, Simbel reported income of £E 181,000 earned evenly throughout the year. Simbel declared a dividend of £E 33,600 to Cayce on June 1 of that year. Simbel also declared the 2017 dividend on June 1.

On December 9, 2017, Simbel classified a £E 11,800 expenditure as a rent expense, although this payment related to prepayment of rent for the first few months of 2018.

The exchange rates for 1 £E are as follows:

A. Translation Worksheet

B. consolidation worksheet

The inventory at April 1, 2020, and the costs charged to Work in Process--Department B during April for Worldwide Company are as follows:

During April, all direct materials are transferred from Department A. In Department B, the units in process at April 1 were completed, and of the 26,000 units entering the department, all were completed except 1,000 units which were 70% completed as to conversion costs. Inventories are costed by the first-in, first-out method.

Required:

Prepare a cost of production report for Department B for the month April 2020.

As a recently hired MBA intern, you are working in a consulting capacity to provide an analysis for Al Dente's Italian Restaurant. A financial income Statement is presented below: Sales $2,698,000 Cost of sales (all variable) $1,557,563 Gross Margin $1,140,438 Operating expenses: Variable $277,975 Fixed $213,675 Total operating expenses: $491,650 Administative expenses (all fixed) $564,375 Net operating income $84,413 This income statement presents the sales, expenses and pre-tax operating income for a local eating facility. At Al Dente, the average meal cost for lunches and dinners are $20 and $40 respectively. Al Dente serves both lunch and dinner 300 days per year and serves twice as many lunches as dinners. As the MBA intern you are to prepare a managerial

3. Using the CM income statement format, verify that your calculated break-even volume for lunches and dinners results in a NOI of zero (hint: in your prepared CM statement from #1, breakout the Sales dollars into subcategories lunch and dinner as shown below, using the values of X for in the # of meals cells). Present the entire CM statement at the BE level.

X Company has 200 units of Product K on December 31, 2020, which originally cost $15. The replacement cost of Product X is $7.5. Product X sells for $12.5 has associated selling costs of $1.5, and a normal profit margin would be $2.5. X Company treats any write-downs as losses.

Suppose X Company uses a perpetual LIFO inventory system. What would the journal entry be in dec 31, 2020 to record the measurement of inventory?

Suppose X Company uses a perpetual FIFO inventory system. What would the journal entry be in dec 31, 2020 to record the measurement of inventory?

discuss the following about Petco Company:

• The organizational culture and the unique characteristics of the firm's work environment.
• Leadership and how the various concepts and leadership models discussed in the text are utilized in your firm's CEO and management team.
• The organizational design and structure of the firm.

Ayres Services acquired an asset for $98 million in 2018. The asset is depreciated for financial reporting purposes over four years on a straight-line basis (no residual value). For tax purposes the asset’s cost is depreciated by MACRS. The enacted tax rate is 40%. Amounts for pretax accounting income, depreciation, and taxable income in 2018, 2019, 2020, and 2021 are as follows:

Required:
Determine (a) the temporary book–tax difference for the depreciable asset and (b) the balance to be reported in the deferred tax liability account. (Leave no cell blank, enter "0" wherever applicable. Negative amounts should be indicated by a minus sign. Enter your answers in millions rounded to 1 decimal place (i.e., 5,500,000 should be entered as 5.5)

Company A is considering buying the assets of Company B in a taxable transaction. Please consider what the income tax impacts are for the following issues:

Treatment of acquired assets by Company A.

Tax treatment of sale to Company B.

Tax Treatment of sale to shareholders of Company B.

Transfer of net operating loss carryforwards and tax credits of Company B to Company A.

Interview a classmate. Ask him/her to describe his/her own ecology during their growing up years. Focus your discussion on identifying possible socialization agents that you think may have important role in shaping your classmate’s development. Write your findings from the Bronfenbrenner’s Ecological System Model.

Yummy Brands is considering the purchase of a new machine that dispenses yogurt. The machine cost $300,000, useful life 5 years 0 salvage. Annual revenues and expenses associated with the new machine follow:Sales revenue$325,000Operating Expenses:Advertising$ 30,000Operator salaries 60,000 Ingredients cost 32,000 Maintenance contract 20,000Depreciation ? You have been hired as Yummy Brands chief financial officer and you need to advise the company CEO if the company should invest in this machine. Show your analysis/ calculations in good form for all your recommendations:A.In your meeting with the CEO you find out that the company usually does not like to invest unless if a project promises a payback period of 4 years or less. Should the company invest in this machine? Show your calculations in good form and explain the pros and cons of this method to make this decision.B.Another approach that the CEO encouraged you to explore is the simple rate or return. Assuming that Yummy Brands requires a 15 percent return on all equipment purchases, compute the simple rate of return promised by the new machine. Ignore income taxes. C.The CEO said he would be interested to find out about any other methods that should be used in this analysis. In the recent Yogurt Journal he had read something about using the internal rate of return of a particular investment in making an investment decision. As a recent graduate of managerial accounting you are expected to be familiar with this analysis and you should do the calculations and make a recommendation based on this method . D.This is your first assignment to make a recommendation about a significant financial investment and you want to be assured that you are making the correct recommendation. You are also trying to impress your boss (and your professor) with your knowledge of managerial accounting. Are there any other methods that you would consider using in this particular situation? Explain the method(s) and show your calculations/ analysis. Explain the pros and cons of all the methods that you have been asked to consider or that you recommend.