Gear Company records $2,000 of depr

eciation under the sum-of-ye

ars’-digits method in

2019, the company’s first year

of operations. In 2020, the comp

any decides to change to the

straight-line method f

or accounting purposes. If the straight-l

ine method were used in 2019,

depreciation would have b

een $1,500. Depreciation in 2020 under

the straight-line method is

$1,800 (depreciated based on the

book value on January 1, 2020)

. The tax rate is 25%.

Income from continuing operati

ons before tax and before deducti

ng depreciation in 2020 is

$12,000.

REQUIRED:

Provide the 2020 entry to record t

his change and calculate 2020

net income.

3020 Corp.'s balance sheet accounts as of December 31, 2020 and 2019 and information relating to 2020 activities are presented below.

                                                                                                                  December 31

                                                                                                          2020            2019

         Assets

         Cash                                                                                    $1,040,000    $   200,000

         Accounts receivable (net) 1,000,000      1,020,000

         Inventory 1,300,000      1,200,000

         Long-term investments(carried at cost) 400,000         600,000

         Plant assets 3,400,000      2,000,000

         Accumulated depreciation (800,000) (900,000)

         Patent                                                                                       180,000     200,000

                  Total assets                                                              $6,520,000   $ 4,320,000

         Liabilities and Stockholders' Equity

         Accounts payable and accrued liabilities $1,660,000    $1,440,000

         Notes payable                                                                          580,000                  —

         Common stock, $10 par 1,600,000 1,400,000

         Additional paid-in capital 800,000 500,000

         Retained earnings                                                             1,880,000      980,000

                  Total liabilities and stockholders' equity   $6,520,000    $4,320,000

Information relating to 2020 activities:

• Net income for 2020 was $1,500,000.
• Cash dividends of $________ were declared and paid in 2020.
• Plant Assets costing $1,000,000 and having a carrying amount of $320,000 was sold in 2020 for $360,000.
• A long-term investment was sold in 2020 for $320,000.
• 20,000 shares of common stock were issued in 2020 for $___________.
• Assume any other transactions involved cash entirely.

Be certain that you have justified and accounted for all the changes in the account line items.

Bahamas feed supply Inc, a pet wholesaler supplier was organized on March 1 2020 projected sales for each of the first three months of operations are as follows

March 450,000

April 520, 000

May 560, 000

The company expects to sell 10% of its merchandise for cash. of sales on account, 50%are expected to be collected in the month of the sale 40% in the month following the sale, and the reminder in the in the second month following the sale.

(1a)Prepare a schedule indicating cash collections for sales for March April and May.

(1b) smell so good candle company projected sales of 95,000 candles for 2020. the estimated January 1st, 2020 inventory is 2400 units and the desired December 31st 2020 inventory is 3000 units what is the budgeted production in units for 2020.

1c Smell so good candle company budgeted production of 95,000 candles in 2020 wax is required to produce a candle assume 8 oz 1/2 of a pound of wax is required for each candle the estimated January 1st 2020 wax inventory is 1400 pounds the desired December 31st 2020 was inventory is 1100 pounds. if candle wax cost 3.60 per pound determined a direct material purchases budget for 2020

P18.1  Anthony Ltd. began business on January 1, 2019. At December 31, 2019, it had a $58,500 balance in the Deferred Tax Liability account that pertains to property, plant, and equipment acquired on July 1, 2019 at a cost of $900,000. The property, plant, and equipment is being depreciated on a straight-line basis over six years for financial reporting purposes, and is a Class 8—20% asset for tax purposes. Anthony's income before income tax for 2020 was $60,000. Anthony Ltd. follows IFRS.

The following items caused the only differences between accounting income before income tax and taxable income in 2020.

1. In 2020, the company paid $56,250 for rent; of this amount, $18,750 was expensed in 2020. The other $37,500 will be expensed equally over the 2021 and 2022 accounting periods. The full $56,250 was deducted for tax purposes in 2020.
2. Anthony Ltd. pays $9,000 a year for a membership in a local golf club for the company's president.
3. Anthony Ltd. now offers a one-year warranty on all its merchandise sold. Warranty expenses for 2020 were $9,000. Cash payments in 2020 for warranty repairs were $4,500.
4. Meals and entertainment expenses (only 50% of which are ever tax deductible) were $12,000 for 2020.
5. The maximum allowable CCA was taken in 2020. There were no asset disposals for 2020. Assume the PPE is considered “eligible equipment” for purposes of the Accelerated Investment Incentive (under the AII, instead of using the half-year rule, companies are allowed a first-year deduction using 1.5 times the standard CCA rate).

Income tax rates have not changed since the company began operations.

Instructions

a. Calculate the balance in the Deferred Tax Asset or Deferred Tax Liability account at December 31, 2020.

b. Calculate income tax payable for 2020.

c. Prepare the journal entries to record income taxes for 2020.

d. Prepare the income tax expense section of the income statement for 2020, beginning with the line “Income before income tax.”

e. Indicate how deferred taxes should be presented on the December 31, 2020 SFP.

f. How would your response to parts (a) to (e) change if Anthony reported under ASPE?

NIKE: Associating Athletes, Performance, and the Brand Nike is the largest seller of athletic footwear, athletic apparel, and other athletic gear in the world, with about 30-percent market share worldwide. Nike markets its products under its own brand, as well as Nike Golf, Nike Pro, Air Jordan, Team Starter, and subsidiaries, including Bauer, Cole Haan, Hurley International, and Converse. As of 2011, the company sells its products through a mix of independent distributors, licensees, and subsidiaries in approximately 120 countries worldwide. Nike has grown from an $8,000 company in 1963 to a company with revenues of $19 billion for the year ended May 31, 2010. In 2010, Nike spent an enormous amount of money, more than a billion dollars, on advertising, endorsements, social media, and sales promotion. In order to make sure that this money is being spent properly, Nike relies on marketing research. It has shown a history of innovation and inspiration in its marketing and is quick to adapt to the changing consumer and the world of sports. Nike has used marketing research in understanding where the future growth lies. A recent example is Nike’s shift from marketing in the more traditional sports (basketball and running) to other sports (golf and soccer), where it has not been as strong. Marketing research surveys revealed that the awareness of Nike among soccer and golf players was low, and Nike decided to work on increasing these numbers. Nike has decided that the money needed for licenses in its strong areas can be better spent in other areas where Nike does not have the brand awareness. Today, the Nike Swoosh is recognized around the world. This is the result of more than 40 years of work and innovation. It signed the first athletes to wear its shoes in 1973. Early on, Nike realized the importance of associating athletes with its products. The partnerships help relate the excellence of the athlete with the perception of the brand. Through focus groups and surveys, Nike discovered the pyramid influence, which shows that the mass market can be influenced by the preferences of a small group of top athletes. After it realized this effect, Nike began to spend millions on celebrity endorsements. The association with the athlete also helps dimensionalize the company and what it believes in. With Nike, this was, and remains, extremely important. It wants to convey a message that the company’s goal is to bring innovation to every athlete in the world. Nike also uses the athletes to design new products by attempting to meet their individual goals. Explaining Nike’s strategy of celebrity endorsements, Trevor Edwards, vice president of U.S. Brand Management, says that the sports figures, such as Ronaldo, Michael Jordan, and Tiger Woods, who have endorsed Nike brands, all have represented excellence in some way. Nevertheless, the athletes also have a personal side, such as their drive to win or their ability to remain humble. All these qualities speak something about the Nike brand; this not only benefits the brand, but also helps to define what the Nike brand is and what it stands for. The company also realized that in order to achieve its lofty growth goals, it must appeal to multiple market segments. Based on marketing research, Nike divided the market into three different groups: the ultimate athlete, the athletics participant, and the consumer who is influenced by sports culture. The first segment is the professional athletes. The second constituency is the participants, those who participate in sports and athletic activities but do not see themselves as athletes or as being part of the larger sport. The third segment comprises those who influence others and are influenced by the world of sports. These three different constituencies form three different consumer segments, and Nike uses very different strategies for each. Nike has always been an aggressive user of marketing research and this has been shown in its attack on the European market. It decided to concentrate on different sports in order to reach European consumers. Americans love baseball. And football. And basketball. But Europe’s favorite game is soccer. Nike placed its focus on major sporting events (World Cups and Olympics) and celebrity athletes that are relevant to the European consumer. Marketing research in the form of focus groups and survey research revealed that the best positioning for Nike shoes was one that enhanced performance in the sport. Through massive advertising campaigns, it has been able to change the perception of its products from fashion to performance, and in the process increase sales dramatically. Another technique Nike has used is to specifically design a product line for a certain market. Nike uses marketing research to determine the lifestyles and product usage characteristics of a particular market segment and then designs products for that segment. An example is the Presto line, which was designed for a certain youth lifestyle. Nike focused on the lifestyle and designed the products around this group. It also used marketing research to determine the most effective media to communicate with the target market. Nike launched its “Write The Future” Campaign in 2010 that made extensive use of social media in partnerships with YouTube, QQ.com, and Facebook. It celebrated football’s pivotal moments and allows fans around the world to connect with their heroes. It featured an action-packed film that brought together some of the world’s greatest players to inspire football lovers and sports fans around the world. Footballers could then use this creative to build their own Facebook campaign and be eligible for rewards. Because of these methods, the Nike logo is recognized by 97 percent of U.S. citizens, and its sales have soared as a result. However, Nike faces a new concern: that it has lost its traditional image of being a smaller, innovative company. It also faces future obstacles in maintaining brand equity and brand meaning. Continued reliance on marketing research will help Nike to meet these challenges, associate its brand with top athletes and performance, and enhance its image. Conclusion Nike used marketing research to build its brand into one of the most well-known and easily recognized brands in the world. Nike’s strategy of celebrity endorsements, its expansion into Europe, and the resulting stronger association with soccer are some of the steps taken by Nike to grow its brand. In the coming years, as Nike expands to newer markets and capitalizes newer opportunities, it will have to continue its reliance on marketing research and continue to associate athletes, performance, and the brand.

Questions

1. Nike would like to increase its share of the athletic shoe market. Define the management-decision problem.

2. Define an appropriate marketing research problem corresponding to the management-decision problem you have identified.

3. Develop a graphical model explaining consumers’ selection of a brand of athletic shoes.

4. How can qualitative research be used to strengthen Nike’s image? Which qualitative research technique(s) should be used and why? How can Nike make use of social media in this context?

5) Describe the principle or application of Brain Computer Interface.

a) What is the value proposition

b) What is the technology and what are the key components of this device? please explain technical details of this technology

c) How is the medical device different or the competitive advantage of this medical device.

a) Internal controls play an important role in reducing the risks of fraudulent activities in any organization. Further, advanced technology helps accountants in reducing fraud. Explain how an advanced technology transaction processing system reduces fraudulent activities from any organizing.

Develop a two paragraph summary of how technology can support the overall well-being of aging citizens. Include at least two of the following concepts to support your response: Telemonitoring
Telehealth
Mobile health
Medical alert systems
Smart home technology

• Provide two (2) examples of how information and healthcare technology has evolved during your nursing practice career. How does technology impact your interactions with patients and families?
• What is the role of nurses in supporting the health literacy of our patients?