Flounder Inc. acquired 20% of the outstanding common stock of Theresa Kulikowski Inc. on December 31, 2020. The purchase price was $1,031,800 for 46,900 shares. Kulikowski Inc. declared and paid an $0.80 per share cash dividend on June 30 and on December 31, 2021. Kulikowski reported net income of $714,000 for 2021. The fair value of Kulikowski’s stock was $25 per share at December 31, 2021. Assume that the security is a trading security.

Prepare the journal entries for Flounder Inc. for 2020 and 2021, assuming that Flounder cannot exercise significant influence over Kulikowski. (Credit account titles are automatically indented when 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.)

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Prepare the journal entries for Flounder Inc. for 2020 and 2021, assuming that Flounder can exercise significant influence over Kulikowski. (Credit account titles are automatically indented when 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.)

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At what amount is the investment in securities reported on the balance sheet under each of these methods at December 31, 2021? What is the total net income reported in 2021 under each of these methods?

Metlock Inc. acquired 20% of the outstanding common stock of Theresa Kulikowski Inc. on December 31, 2020. The purchase price was $1,310,000 for 52,400 shares. Kulikowski Inc. declared and paid an $0.75 per share cash dividend on June 30 and on December 31, 2021. Kulikowski reported net income of $667,000 for 2021. The fair value of Kulikowski’s stock was $28 per share at December 31, 2021. Assume that the security is a trading security.

Prepare the journal entries for Metlock Inc. for 2020 and 2021, assuming that Metlock cannot exercise significant influence over Kulikowski.

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List of Accounts

Prepare the journal entries for Metlock Inc. for 2020 and 2021, assuming that Metlock can exercise significant influence over Kulikowski.

At what amount is the investment in securities reported on the balance sheet under each of these methods at December 31, 2021? What is the total net income reported in 2021 under each of these methods?

CASE : Manuel Market opens first branch in Riyadh

Manuel Market, a Jeddah-based supermarket retailer, opened its first branch in Riyadh on Feb. 26, 2020.

The ninth and newest Manuel Market, located in Riyadh-Mercato, Prince Muqrin bin Abdul Aziz Street, An-Nuzhah district, aims to provide customers a luxurious shooping experience, the best service, and the finest healthy, natural and organic products at reasonable prices. The opening ceremony was attended by Khaled Al-Darwish, CEO of Manuel Market; Abdulelah Al-Darwish, chairman; Abdullah Al-Darwish; Abdulrazzaq Al-Darwish, general manager; Faisal Al-Darwish, deputy general manager; a group of businessmen and media representatives; and a gathering of Manuel’s customers.

The supermarket chain, which opened its first branch in Jeddah in 2010, currently has seven branches in Jeddah, one in Jubail and one in the Saudi capital.
CEO Al-Darwish said: “The Manuel Market chain offers the best and widest selection of consumer goods and food products of the most famous global brands. In addition to being a leader in the field of organic and healthy natural foods, Manuel provides its customers with outstanding national and international product options under one roof.”
One of the most important goals of Manuel, Al-Darwish said, is to “make a positive difference in people’s lives by paying attention to their passion, understanding their needs, and meeting their aspirations.” He also reiterated Manuel’s commitment to developing and improving service levels to meet the demands of its customers.

Question: Suggest your strategies to differentiate Manuel Market from other super markets in Riyadh

The NGD Company has a trademark that it expects to have an indefinite life with a carrying value of $1,500,000. As part of its 2016 annual impairment testing, NGD decides not to use the qualitative assessment option under U.S. GAAP and moves forward to performing its quantitative assessment impairment testing for both U.S. GAAP and IFRS. In this process, it is determined that the fair value of the trademark is $1,200,000. The present value of the future cash flows is $1,260,000 and the undiscounted summation of the future cash flows is $1,400,000. The costs to sell the trademark would be insignificant. Required: a. Determine the impairment of the trademark using both U.S. GAAP and IFRS. (10 points) Extra credit: What journal entries would NGD prepare to record an impairment of the trademark using both U.S. GAAP and IFRS? (2 points) b. In the following year, NGD reviewed its trademark for impairment reversal indicators. Upon review of these indicators, NGD determined that reversal of the impairment was appropriate. The fair value of the trademark and the present value of future cash flows is both $1,600,000. The costs to sell the trademark continue to be insignificant. Determine whether there is any reversal of the impairment loss for the trademark under U.S. GAAP and IFRS (5 points) Extra credit: What journal entries would NGD prepare to record the reversal of the impairment loss for the trademark using both U.S. GAAP and IFRS? (2 points)

Recording Income Tax Expense
The Boeing Company reports the following tax information in Note 4 to its 2014 financial report.

a. Record Boeing's provision for income taxes for 2014 using the financial statement effects template.

Use negative signs with answers when appropriate. When applicable, enter total amount for liabilities.

b. Record Boeing's provision for income taxes for 2014 using journal entries.

Airbnb, a popular home-sharing website founded in San Francisco in 2008, offers millions of homes for
short-term rental in more than 190 countries. This company has revolutionized the sharing economy in
the same way that ride-sharing services such as Uber and Lyft have, and according to the company, the
site’s drive to connect hosts and potential renters has been able to contribute to the quality of life of
both homeowners and travelers. According to Airbnb’s press releases and information campaigns, their
services can reduce housing costs for travelers on a budget and can provide unique experiences for
adventurous travelers who wish to have the flexibility to experience a city like a local. The organization
also claims that most of its users are homeowners looking to supplement their incomes by renting out
rooms in their homes or by occasionally renting out their whole homes. According to a statement, most
of the listings on the site are rented out fewer than 50 nights per year.

Despite the carefully crafted messages Airbnb has presented to the public, in 2016 the company came
under intense scrutiny when independent analyses by researchers and journalists revealed something
startling: While some Airbnb hosts did in fact use the services only occasionally, a significant number of
hosts were using the services as though they were hotels. These hosts purchased a large number of
properties and continuously rented them, a practice that affected the availability of affordable housing in
cities and, because these hosts were not officially registered as hoteliers, made it possible for Airbnb
hosts to avoid paying the taxes and abiding by the laws that hotels are subject to.

Title II of the Civil Rights Act of 1964 mandates that hotels and other public accommodations must not
discriminate based on race, national origin, sex, or religion, and Title VIII of the Civil Rights Act of 1968
(also known as the Fair Housing Act [FHA]) prohibits discrimination specifically in housing. However,
Airbnb’s unique structure allows it to circumvent those laws. The company also claims that while it
encourages hosts to comply with local and federal laws, it is absolved from responsibility if any of its
hosts break these laws. In 2017, researcher Ben Edelman conducted a field experiment and found that
Airbnb users looking to rent homes were 16% less likely to have their requests to book accepted if they
had traditionally African American sounding names like Tamika, Darnell, and Rasheed.

These findings, coupled with a viral social media campaign, #AirbnbWhileBlack, in which users claimed
they were denied housing requests based on their race, prompted the state of California’s Department
of Fair Employment and Housing (DFEH) to file a complaint against the company. In an effort to resolve the complaint, Airbnb reported banning any hosts who were found to have engaged in discriminatory
practices, and they hired former U.S. Attorney General Eric Holder and former ACLU official Laura
Murphy to investigate any claims of discrimination within the company.31 In 2016, Airbnb released a
statement outlining changes to company practices and policies to combat discrimination, and while they
initially resisted demands by the DFEH to conduct an audit of their practices, the company eventually
agreed to an audit of roughly 6,000 of the hosts in California who have the highest volume of properties
listed on the site.

Sources: AirBnB Press Room, accessed December 24, 2018, https://press.atairbnb.com/about-us/;
“Airbnb's data shows that Airbnb helps the middle class. But does it?”, The Guardian, accessed December
23, 2018, https://www.theguardian.com/technology/2016/jul/27/airbnb-panel-democratic-nationalconvention-
survey ; and Quittner, Jeremy, “Airbnb and Discrimination: Why It’s All So Confusing”,
Fortune, June 23, 2016, http://fortune.com/2016/06/23/airbnb-discrimination-laws/ (Links to an external site.).

Discussion Questions
1. What are some efforts companies in the sharing economy can take before problems of
discrimination threaten to disrupt operations?
2. Should Airbnb be held responsible for discriminatory actions of its hosts?

The Whit company, a manufacture and the berry company, a retailer , entered into a business combination whereby whit acquired for cash all the outstanding voting common stock of Berry.

The Whit company is preparing consolidated financial statements immediately after the sonsummation of the newly formed business combination. How should whit determin in general the amounts to be reported for the assets and liabilities of Berry compnay? Assuming that the business combination resulted in good will, infdicate how the amount of good will is determined.

b. Why and under what circumstances should Berry be included in the entity's consolidated financial statements?

Cascade Company was started on January 1, 2018, when it acquired $155,000 cash from the owners. During 2018, the company earned cash revenues of $97,900 and incurred cash expenses of $66,100. The company also paid cash distributions of $9,500.

Required

Prepare a 2018 income statement, capital statement (statement of changes in equity), balance sheet, and statement of cash flows under each of the following assumptions. (Consider each assumption separately.)

Cascade is a corporation. It issued 10,000 shares of $9 par common stock for $155,000 cash to start the business.

Cascade Company was started on January 1, 2018, when it acquired $156,000 cash from the owners. During 2018, the company earned cash revenues of $80,300 and incurred cash expenses of $67,500. The company also paid cash distributions of $5,500.

Required

Prepare a 2018 income statement, capital statement (statement of changes in equity), balance sheet, and statement of cash flows under each of the following assumptions. (Consider each assumption separately.)

Cascade is a sole proprietorship owned by Carl Cascade.

A) Prepare a Balance Sheet

B) Prepare a Statement of Cash Flows

F6: The Logic of Individual Choice 28 28 unread replies. 28 28 replies. Joseph Gallo, the founder of the famous wine company that bears his name, said that when he first started selling wine right after Prohibition (laws outlawing the sale of alcohol), he poured two glasses of wine from the same bottle and put a price of 10 cents a bottle on one and 5 cents a bottle on the other. He allowed people test both and asked them which they wanted. Most wanted the 10-cent bottle, even though they were the same wine. What does thus tell us about people? Can you think of other areas where that may be the case? What does this suggest about pricing? Is the rational choice theory still applicable in this case?

name of the book: Economics 9th edition

IT MUST BE 250 WORDS VERY IMPORTANT PLEASE