On January 1, 2018, Patriots Co. awarded restricted stock units (RSUs) representing 30 million of its $1 par common shares to key personnel, subject to forfeiture if employment is terminated within three years. After the recipients of the RSUs satisfy the vesting requirement, the company will distribute the shares. On the grant date, the shares had a market price of $3 per share.

Required:

Determine the total compensation cost pertaining to the RSUs.

Prepare the appropriate journal entry to record the award of RSUs on January 1, 2018.

Prepare the appropriate journal entry to record compensation expense on December 31, 2018, December 31, 2019, and December 31, 2020.

Prepare the appropriate journal entry to record the lifting of restrictions on the RSUs and issuing shares at December 31, 2020.

At January 1, 2020, Betty DeRose, Inc. reported paid-in capital - treasury stock of $2,000 and retained earnings of $49,000. Betty DeRose, Inc. entered into the following transactions during 2020: a. Re-acquired 5,000 shares of its $8 par value common stock by paying $18 per share. b. Re-issued 900 of the shares that were re-acquired in (a) for $21 per share. c. Re-issued 1,200 of the shares that were re-acquired in (a) for $13 per share. d. Re-issued 800 of the shares that were re-acquired in (a) for $20 per share. e. Re-issued 1,100 of the shares that were re-acquired in (a) for $17 per share. Calculate the balance in the paid-in capital - treasury stock account after all five transactions above are recorded.

Coronado Inc. manufactures cycling equipment. Recently, the vice president of operations of the company has requested construction of a new plant to meet the increasing demand for the company’s bikes. After a careful evaluation of the request, the board of directors has decided to raise funds for the new plant by issuing $3,492,700 of 10% term corporate bonds on March 1, 2020, due on March 1, 2035, with interest payable each March 1 and September 1, with the first interest payment on September 1st, 2020. At the time of issuance, the market interest rate for similar financial instruments is 8%.

As the controller of the company, determine the selling price of the bonds. (Round factor values to 5 decimal places, e.g. 1.25124 and final answer to 0 decimal places, e.g. 458,581.)

On 1/1/2018, Husky, Inc. issues $20,000,000 of five-year, 1% convertible bonds at par. Each $1,000 bond in the issue converts to 20 shares of $1 par value common stock at the option of the bondholder beginning two years after issue. The market price of Husky’s common stock on the date of issue is $54 and interest is paid annually each December 31. Assume that half of the bonds were converted on 1/1/2020 and at that date the carrying value (net book value) of the entire issue of convertible bonds is $19,000,000.

Required:

A. Prepare the journal entry for issuance of Husky’s convertible bonds on 1/1/2018. (3 points)

B. Prepare the journal entry for conversion of half of the convertible bonds on 1/1/2020. (4 points)

Is the interval [-4, 7) open, closed, half–open, or unbounded?

Discuss (in detail) the advantages and disadvantages of open and closed-ended questions.

The following are the weekly losses of work-hours due to accidents in 10 industrial plants before and after a certain safety program were put into operation

a- Is the assumption that the difference in weekly losses of work-hours is normally distributed reasonable?

b- Test whether the safety program is effective.

Use α=0.05. c- Find a 95% confidence interval on the difference in mean weekly losses of work-hours.

The management of Discount Furniture, a chain of discount furniture stores in the Northeast, designed an incentive plan for salespeople. To evaluate this innovative plan, 14 salespeople were selected at random, and their weekly incomes before and after the plan were recorded. (use the six steps of hypothesis testing)