P11.16 Sung Corporation, a manufacturer of steel products, began operations on October 1, 2019. Sung's accounting department has begun to prepare the capital asset and depreciation schedule that follows. You have been asked to assist in completing this schedule. In addition to determining that the data already on the schedule are correct, you have obtained the following information from the company's records and personnel:

• 1. Depreciation is calculated from the first day of the month of acquisition to the first day of the month of disposition.
• 2. Land A and Building A were acquired together for $820,000. At the time of acquisition, the land had an appraised value of $90,000 and the building had an appraised value of $810,000.
• 3. Land B was acquired on October 2, 2019, in exchange for 2,500 newly issued common shares. At the date of acquisition, the shares had a fair value of $30 each. During October 2019, Sung paid $16,000 to demolish an existing building on this land so that it could construct a new building.
• 4. Construction of Building B on the newly acquired land began on October 1, 2020. By September 30, 2021, Sung had paid $320,000 of the estimated total construction costs of $450,000. It is estimated that the building will be completed and occupied by July 2022.
• 5. Certain equipment was donated to the corporation by a local university. An independent appraisal of the equipment when it was donated estimated its fair value at $30,000 and the residual value at $3,000.
• 6. Machine A's total cost of $164,900 includes an installation expense of $600 and normal repairs and maintenance of $14,900. Its residual value is estimated at $6,000. Machine A was sold on February 1, 2021.
• 7. On October 1, 2020, Machine B was acquired with a down payment of $5,740 and the remaining payments to be made in 11 annual instalments of $6,000 each, beginning October 1, 2020. The prevailing interest rate was 8%. The following data were determined from present-value tables and are rounded:

  PV of $1 at 8%				PV of an Ordinary Annuity of $1 at 8%
  10 years		0.463		10 years		6.710
  11 years		0.429		11 years		7.139
  15 years		0.315		15 years		8.559

  Sung Corporation Capital Asset and Depreciation Schedule For Fiscal Years Ended September 30, 2020, and September 30, 2021
  Assets		Acquisition Date		Cost		Residual Value		Depreciation Method		Estimated Life in Years		Depreciation Expense, Year Ended September 30
  												2020		2021
  Land A		Oct. 1, 2019		$ (1)		N/A		N/A		N/A		N/A		N/A
  Building A		Oct. 1, 2019		(2)		$40,000		Straight-line		(3)		$17,450		(4)
  Land B		Oct. 2, 2019		(5)		N/A		N/A		N/A		N/A		N/A
  Building B		Under construction		$320,000 to date		—		Straight-line		30		—		(6)
  Donated Equipment		Oct. 2, 2019		(7)		3,000		150% declining- balance		10		(8)		(9)
  Machine A		Oct. 2, 2019		(10)		6,000		Double-declining- balance		8		(11)		(12)
  Machine B		Oct. 1, 2020		(13)		—		Straight-line		20		—		(14)
  N/A = Not applicable

Instructions

a. For each numbered item in the schedule, give the correct amount. Round each answer to the nearest dollar.

b.  When would it be appropriate for management to use different depreciation policies as they have done for Machines A and B?

You work for a large accounting firm KMPG as a Senior Accountant. Your client Bear plc acquired shares in Wolf plc several years back and you are responsible for the preparation of the year end work.

The following are the Statements of financial position for Bear plc and Wolf plc as at 31 March 2020, together with the additional information provided below.

Notes to the above financial statements:

1. Wolf Plc acquired 84,000 ordinary shares in Wolf on 31 March 2017. They also acquired 15% of the preference shares.

2. At the date of acquisition, the retained earnings of Wolf plc were £205,000.

3. During the year, Bear sold goods to Wolf for £10,400 which included a mark-up on cost of 30%. At the end of the year, 50% of this stock was still held by Wolf plc.

4. At the date of acquisition, the land and buildings of Wolf plc had a fair value of £50,000 more than their book value. This fair value increase has not been incorporated into the statement of financial position for Wolf plc. Land accounts for 20% of this amount. Wolf acquired the building on 1 April 2012. The group policy is to depreciate buildings over a period of 50 years.

4. Wolf spent £42,000 on developing a new and innovative product. Wolf’s policy is to expense development costs, however, it is Bear’s policy to capitalise development costs (i.e. treat it as an asset). The following provides a breakdown of expenditure by Wolf:

Development costs up to 31 March 2017     £32,000

Development costs after 31 March 2017     £10,000

6. On the 31March 2020, an impairment test was carried out on the goodwill arising from the acquisition of Wolf plc. The report indicated that the goodwill needs to be written down by £10,000.

7. Wolf declared a dividend to its ordinary shareholders on 15 March 2020 which remained unpaid by 31 March 2020. Bear has not accounted for this income in their financial statements.

1. Prepare the consolidation schedule for Wolf plc at 31 March 2020.

2. Calculate the equity and non-controlling interest that will appear in the consolidated statement of financial position for the Bear Group plc at 31 March 2020.

c. Prepare a memorandum for the attention of the financial director of Bear Plc explaining why consolidated accounts are necessary and what are the criteria regarding exemption and exclusion from preparing consolidated accounts.

d. Prepare a memorandum for the financial director of Bear plc explaining the limitations of group accounts.

On January 1, 2019, Aspen Company acquired 80 percent of Birch Company's voting stock for $482,000. Birch reported a $542,500 book value, and the fair value of the noncontrolling interest was $120,500 on that date. Then, on January 1, 2020, Birch acquired 80 percent of Cedar Company for $144,000 when Cedar had a $150,000 book value and the 20 percent noncontrolling interest was valued at $36,000. In each acquisition, the subsidiary's excess acquisition-date fair over book value was assigned to a trade name with a 30-year remaining life.

These companies report the following financial information. Investment income figures are not included.   

Assume that each of the following questions is independent:

1. If all companies use the equity method for internal reporting purposes, what is the December 31, 2020, balance in Aspen's Investment in Birch Company account?

2. What is the consolidated net income for this business combination for 2021?

3. What is the net income attributable to the noncontrolling interest in 2021?

4. Assume that Birch made intra-entity inventory transfers to Aspen that have resulted in the following intra-entity gross profits in inventory at the end of each year:

What is the accrual-based net income of Birch in 2020 and 2021, respectively?

Panama Company acquired 60 %
of Samoa Corporation on 1/2018. Fair values of Samoa's assets and liabilities
approximated book values on that date. Panama uses the initial value method
to account for its investment in Samoa.
On 1/2019, Panama bought equipment from Samoa for $60,000 that had
originally cost Samoa $120,000 and had $ 90,000
of Accumulated depreciation at the time. The equipment had a five-year
remaining life and was being depreciated using the straight line method.
You are preparing the worksheet for the 2020 fiscal year.
a. Was this equipment sale upstream or downstream?
b. How much unrealized net gain from the equipment transfer remains at the
beginning of 2020? (this is the amount you will need for the *TA entry at 1/2020.)
c. Which company's Retained earnings account will be adjusted in the *TA entry
in part a? (Which company was the “initiator” of the transaction?)
d. How much excess depreciation will there be in each of the first five years
after the transfer?
e. Panama's 2020 net income, without including any investment income, was
$ 360,000 and Samoa reported net income of $ 115,000 in 2020.
What consolidated income will be reported before removing the noncontrolling
interest's share of the subsidiary's net income? (This includes the effect
of the ED entry.)
f. What will the noncontrolling interest's share of the subsidiary's net income be for
2020? (Consider whether the equipment sale had been upstream or downstream.)

1. What is true of socialist economies?

                 a.   They don’t allow elections as they reject democracy, they are run by a central workers party.

                b.    They tend to be poor, and found in the 3^rd world

                c.    state owns and manages basic industries though people can hold jobs, and salaries and have

                        private property

                d.   There are none left in the world today except for Cuba

2.

Which of the following was not a result of the Shelby v. Holder Supreme Court decision?

a.    The Court ruled on which states should be covered under Section 12, dropping some states,

       adding others based on current conditions

b.    The court struck down Section 5 of the Voting Rights Act

c.     States previously covered by Section 5 immediately began enacting procedures previously

        determined by the DOJ as discriminatory.

d.    There are legal challenges to the changes States are passing to their voting procedures and

        requirements, and states are losing in Federal Courts.

3.

A global economy refers to

                 a.   an centralized economy controlled and managed by international organizations like the

                       United Nations

                b. Private corporations that have management, investment and production in different

                       countries

                 c.    international corporations co-managed with workers

                d.   none of the above

4.

The United States is best described as a(n) ____________ society.

                 a.   industrial agrarian b.   globalist                          c.   industrial                        d.   Post industrial

5. Globalization affects which part of our daily lives?

a.      our work patterns                                      b.     our sense of individualism

c.      popular culture                                             d.     all of the above

James Davies argues that relative deprivation, not absolute deprivation, is what motivates revolution. Relative deprivation is the discrepancy between:

a.   those who believe society should be guided by religious faith and those who believe that

       capitalism should be the focus

b.   those who own the means of production and workers

c.   the educated and those with less skills

d.   the lives people are forced to lead and what they think could realistically be achieved

Help Please

(a) Suppose that a random sample of 387 television ads in the United Kingdom reveals that 131 of these ads use humor. Find a point estimate of and a 95 percent confidence interval for the proportion of all U.K. television ads that use humor. (Round your answers to 3 decimal places.)   

(b) Suppose a random sample of 493 television ads in the United States reveals that 134 of these ads use humor. Find a point estimate of and a 95 percent confidence interval for the proportion of all U.S. television ads that use humor. (Round your answers to 3 decimal places.)

1. Determine whether the variable is qualitative or quantitative. State of residenceState of residence

2. Determine whether the variable is qualitative or quantitative. Eye colorEye color

3.Determine the level of measurement of the variable. Birth order among siblings in a familyBirth order among siblings in a family

4.A polling organization contacts 15701570 adult women who are 30 to 70 years of ageadult women who are 30 to 70 years of age andand live in the United Stateslive in the United States and asks whether or not they had received areceived anbsp mammogram nbsp mammogram during the past yearduring the past year. What is the population in the​ study? What is the sample in the​ study?

This is an 8 Part Question. If you guys want to count it as 8 question on my chegg account please do so. I know it is long I just dont understand it

The countries of Europe report that 46% of the labor force is female. The United Nations wonders if the percentage of females in the labor force is the same in the United States. Representatives from the United States Department of Labor plan to check a random sample of over 10,000 employment records on file to estimate a percentage of females in the United States labor force.

a) They select a random sample of 525 employment records and find that 229 of the people are females. Check the required conditions to construct a confidence interval.

b) Create a 90% confidence interval.

c) Interpret the confidence interval in this context.

d) Explain what 90% confidence means in this context.

e) Should the representatives from the Department of Labor conclude that the percentage of females in their labor force is lower than Europe’s rate of 46%? Explain.

Insurance companies track life expectancy information to assist in determining the cost of life insurance policies. The insurance company knows that, last year, the life expectancy of its policyholders was 77 years. They want to know if their clients this year have a longer life expectancy, on average, so the company randomly samples some of the recently paid policies to see if the mean life expectancy of policyholders has increased. The insurance company will only change their premium structure if there is evidence that people who buy their policies are living longer than before.

f) To begin to answer this question, we will use a confidence interval. Find and interpret a 95% confidence interval for the mean life expectancy of these policyholders. Make sure to check the conditions required for this interval.

g) Using your confidence interval, what can you conclude the average life expectancy? Do we have evidence that it is increasing?

h) Your work on #1 depends on a sampling distribution model. Describe the center, shape, and spread of this model.

Should business schools actively promote the enrollment of women into their full-time MBA programs? If so, how should they do it? Explain