On January 1, 2020, The Justice League issued $100,000, 9%, four-year bonds. Interest is paid semiannually on June 30 and December 31. The bonds were issued at $96,768 to yield an annual return of 10%.
Required:
|
Date |
Cash Payment |
Interest Expense |
Amortization |
Carry Value |
|
1/1/2020 |
||||
|
6/30/2020 |
||||
|
12/31/2020 |
||||
|
6/30/2021 |
|
Date |
Account |
DR |
CR |
3) What amount would the bonds be reported on the balance sheet at the end 2020?
In: Accounting
Violet Ltd owns all the share capital of Indigo Ltd. The following transactions are independent:
Required
In relation to the above intragroup transactions:
1. Prepare adjusting journal entries for the consolidation worksheet at 30 June 2020.
2. Explain in detail why you made each adjusting journal entry.
In: Accounting
The DeVille Company reported pretax accounting income on its income statement as follows: 2019 2020 2021 2022 Pretax accounting income $350,000 270,000 340,000 380,000 Included in the income of 2019 was an installment sale of property in the amount of $50,000. However, for tax purposes, DeVille reported the income in the year cash was collected. Cash collected on the installment sale was $20,000 in 2020, $25,000 in 2021, and $5,000 in 2022. Included in the income of 2020 was $20,000 fine paid for violation of federal law. The enacted tax rate for 2019 and 2020 was 30%, but during 2020, new tax legislation was passed reducing the tax rate to 20% beginning in 2021.
1. Prepare the year-end journal entries to record income taxes for 2019.
2. Prepare the year-end journal entries to record income taxes for 2020.
Provide Explanation for each part
In: Accounting
The cost of giving up a cash discount under the terms of sale 1/10 net 60 (assume a 365day year) is
A.
7.4
B.
6.1%
C.
7.2%
D.
14.7%
On its 2019 balance sheet, Sherman Books showed a balance of retained earnings equal to $510 million. On its 2020 balance sheet, the balance of retained earnings was equal to $520 million. Which of the following statements is most correct?
A.
If the company sold $10 million of newly issued common stock in 2020, then the company’s net income in 2020 must have been $20 million.
B.
The company must have paid a dividend in 2020.
C.
If the company’s net income in 2020 was $10 million, the company paid dividends of $20 million.
D.
If the company’s net income in 2020 was $20 million, the company paid dividends of $10 million.
In: Finance
Partnership Income Allocation
Whitman and Greene are partners in a real estate venture. At January 1, 2020, their respective capital balances were $200,000 and $245,000. Their partnership agreement provides that Whitman is to receive a guaranteed salary of $100,000, and that remaining profits after the salary are to be shared in a 2:3 ratio. Partnership operations for the year 2020 resulted in income of $75,000, before distributions to partners. Whitman’s salary is paid in cash during the year, but there are no other withdrawals or capital changes. Assume full implementation.
Required
a. Compute the balance of each partner’s capital account at December 31, 2020.
| Balance at December 31, 2020 | |
|---|---|
| Whitman | $Answer |
| Greene | $Answer |
b. Compute the balance of each partner’s capital account at December 31, 2020, assuming partnership income was $150,000.
| Balance at December 31, 2020 | |
|---|---|
| Whitman | $Answer |
| Greene | $Answer |
In: Accounting
Question 3 - Week 10 On 1 March 2020 Holmes Ltd enters into a binding agreement with a New Zealand company, which requires the New Zealand Company to construct an item of machinery for Holmes Ltd. The cost of the machinery is NZ$750,000. The machinery is completed on 1 June 2021 and shipped FOB Auckland on that date. The debt is unpaid at 30 June 2020, which is also Holmes Ltd’s reporting date. The exchange rates at the relevant dates are: 1 March 2020 A$1.00 = NZ$1.20 30 June 2020 A$1.00 = NZ$1.30 1 June 2021 A$1.00 = NZ$1.25
Required: a) Determine the amount in AUD, as at: • 1 March 2020; and • 30 June 2020. b) Prepare the journal entries for the above dates, up to 1 June 2021,showing the amount of exchange gain or loss .
In: Accounting
Topic: Equity method investments
LO 2
Delta Corporation acquired 25% of the voting stock of Davidson Company in 2019. There were no basis differences. It is now 2020. Davidson reported 2020 net income of $5,000,000, other comprehensive income of $100,000, and declared and paid cash dividends of $1,500,000. Delta’s ending inventory contains $1,020,000 purchased from Davidson, and its beginning inventory contains $750,000 purchased from Davidson. Davidson sells inventory to Delta at a markup of 20% on cost. Delta uses the equity method to account for its investment in Davidson.
Required
a. Calculate equity in net income of Davidson, reported on Delta’s 2020 income statement.
b. Prepare Delta’s 2020 journal entry or entries related to its investment in Davidson.
c. What is the net effect of the investment in Davidson on Delta’s 2020 net income and on Delta’s 2020 comprehensive income
In: Accounting
|
Case Study |
CEMEX: A Model Multinational from an Unusual Place |
|
Our discussion in the text stresses that multinationals succeed by using their firm-specific advantages throughout their global operations. We have also noted that most foreign direct investments are made by firms based in the industrialized countries. This is the story of CEMEX, a firm that rapidly has become multinational since 1990. The reasons for its multinational success fit very well with the advantages stressed in the eclectic approach. What makes the firm unusual is that it is based in Mexico. CEMEX is an example of a growing group of multinationals based in developing countries.
CEMEX began business in 1906. For most of its life this cement company focused on selling in the Mexican market. Cement is a product that is expensive to ship, especially overland, so cement plants ship mostly to customers within 300 miles of a plant. Shipment by water is moderately (but not prohibitively) expensive. Most cement producers in the 1980s were local producers with traditional business practices. New managers at CEMEX broke with tradition by introducing extensive use of automation, information technology, and a satellite-based communication network into CEMEX operations. They used the technology to improve quality control and to provide detailed information on production, sales, and distribution to top managers in real time. Delivery of ready-mix concrete is particularly challenging in cities. Traditionally, cement firms could ensure delivery only within a time period of about three hours. CEMEX pioneered the use of computers and a global positioning system to guarantee delivery to construction sites within a 20-minute window. These innovations became the company's firm-specific advantages.
Also in the 1980s CEMEX began to export more aggressively to the United States using sea transport, and it was increasingly successful. However, competing U.S. cement producers complained to the U.S. government, and in 1990 CEMEX exports to the United States were hit by a 58 percent antidumping duty. With exporting to the United States limited by the antidumping order, CEMEX looked for other foreign opportunities.
In 1991, it began exporting to Spain, and in 1992 it made its first foreign direct investment by acquiring two Spanish cement producers. CEMEX minimized its inherent disadvantages by investing first in a foreign country with the same language as the firm's home country and a similar culture. In addition, CEMEX used its expansion into Europe as a competitive response to the previous move by the Swiss-based firm Holcim into the Mexican cement industry.
The management team sent by CEMEX to reorganize the acquired companies was amazed to find companies that kept handwritten records and used almost no personal computers. They upgraded the Spanish affiliates to CEMEX technology and management practices. The improvement in affiliate operations from this internal transfer of CEMEX's intangible assets was remarkable—profit margins improved from 7 percent to 24 percent in two years.
Since then, CEMEX has made a series of foreign direct investments by acquiring cement producers in Latin America (including Venezuela, Panama, the Dominican Republic, Colombia, and Costa Rica), the United States, Britain, the Philippines, Indonesia, and Egypt. CEMEX used the same type of process that it used in Spain to bring its technology and management practices into its new foreign affiliates, and generally achieved similarly impressive improvements in performance.
By 2000, CEMEX was the third largest cement producer in the world, behind Lafarge of France and Holcim. More than 60 percent of its physical assets were in its foreign affiliates. It was also the largest exporter of cement in the world (a fact consistent with the proposition discussed in the text that FDI and trade are often complementary). CEMEX is considered one of the best networked companies globally by computer industry experts, well ahead of its rivals. Its investments in developing and enhancing its firm-specific advantages have been paying off globally.
CEMEX is a great example of a domestic firm becoming a multi-national giant by a clever interplay of technology, foreign direct investment and innovation. Please spell out the experience of another company in a different industry that had similar success. For all of his success, what can Cemex learn from your company?
In: Economics
Article: The effect of unit-based simulation on nurse’s identification of deteriorating patient.
In today’s nursing practice environment, nurses are faced with patients with multiple, complex conditions that can change rapidly leading to an acute patient deterioration (APD) event (Bright, Walker, & Bion, 2004). Patients often exhibit early warning signs before APD events (Fuhrmann, Lippert, Perner, & Ostergard, 2008; Kause et al., 2004), but research supports that early warning signs are not always identified by healthcare providers and/or, if identified, are not addressed in an appropriate time frame. Multiple factors have been cited as reasons for failure to recognize and respond appropriately to APD events including lack of knowledge and skills, lack of confidence to handle APD events, not monitoring vital signs (VS) routinely, failure to seek assistance, communication failures, and confusion regarding role responsibilities (National Patient Safety Agency, 2007).
As the acuity of patients increases, it becomes imperative that registered nurses (RNs) perform frequent assessments and intervene appropriately when patients’ conditions be- gan to deteriorate (Cooper et al., 2010). These interventions include providing appropriate care to stop the deterioration such as consultation with advanced practice nurses and/or physicians, ensuring/evaluating that the health plan is being implemented, and/or determining if transfer to critical care areas for higher level nursing care is required. The use of simulation as a teaching method assists nurses to improve their assessment skills and response to patient decline in a timely and knowledgeable manner (Cooper et al., 2010). The purpose of this pilot research study was to examine the effects of a unit-based, high-fidelity simulation initiative on cardiovascular step-down unit RNs’ identification and management of deteriorating patients.
*In this assignment you will choose a study from the folder of selected studies and upload a Quantitative experimental or quasi-experimental designed research study.
*Review Experimental and Quasi-experimental studies of your textbook for definitions and specific types of experimental and quasi-experimental studies.
Directions:
From the article identify the following using 1 or 2 simple sentences
1. The study "Method" or "Design":
2. Problem Statement:
3. Purpose Statement:
4. Independent Variable and the Dependent Variable:
5. The intervention:
6. The hypothesis or research question:
In: Nursing
We are to make a program about a car dealership using arrays. I got the code to display all cars in a list, so I'm good with that. What I'm stuck at is how to make it so when a user inputs x for search, it allows them to search the vehicle. We need two classes, one that shows the car information and another that shows the insert, search, delete, display methods. Here is what I have so far
package a1chrisd;
import java.util.Scanner;
public class Car {
/**
* @param args the command line
arguments
*/
String color;
String model;
String year;
String company;
String plate;
public Car(String color, String model, String
year, String company, String plate) {
this.color =
color;
this.model =
model;
this.year = year;
this.company =
company;
this.plate =
plate;
}
public void introduceSelf() {
System.out.println("This is a"
+ " " + this.color + " " + this.year + " " + this.company + " " +
this.model + " with plate " + this.plate);
}
public static void main(String[] args){
String arrModel[]
= {"Corolla", "Mustang", "Cavalier", "LaSabre", "Civic",
"Accord", "Avalon", "Escalade", "XTS", "A220", "Crown Victoria"};
// Car models
String arrPlate[] = {"11111",
"22222", "33333", "44444", "55555",
"66666", "77777", "88888", "99999", "00000"}; // car plates
String
arrCompany[] = {"Toyota", "Ford", "Cheverolet", "Buick",
"Honda",
"Honda", "Toyota", "Cadillac", "Cadillac", "Mercedes Benz",
"Ford"}; // car company
String arrColor[]
= {"Red", "White", "White", "Green", "Black",
"Green", "Blue", "Black", "Orange", "Brown", "Blue"}; // car
color
String arrYear[] =
{"2015", "2019", "1987", "2020", "2020",
"2001", "2004", "2016", "2010", "1991"}; // car year
Scanner in = new
Scanner(System.in);
int carsInserted = 0;
Car
arrCar[] = new Car[50];
for
(int i = 0; i < 10; i++){
Car c = new Car(arrColor[i], arrYear[i], arrCompany[i],
arrModel[i], arrPlate[i]);
arrCar[i] = c;
}
for(int i = 0; i < 10; i++){
arrCar[i].introduceSelf();
}
}
In: Computer Science