1. On February 1, 2016, Ellison Co. issued eight-year bonds with a face value of $10,000,000 and a stated interest rate of 4%, payable semiannually on July 1 and January The bonds were sold to yield is 6%. What is the issuance price of the bond? Record the journal entries for February 2016 and issuance at July 1, 2016.
2. Using the information above, assume that the bonds issued by Ellison Co. are convertible with each $1,000 convertible into 25 shares of common stock. Assume that Ellison converts $4,000,000 of bonds on July 1, 2018 into common stock. Prepare the following entries:
a. Entry at February 1, 2016 for issuance of the convertible bonds
b. Entry at July 1, 2018 for the conversion of $4,000,000 of bonds.
In: Accounting
The following information is available from the accounting records of Manahan Co. for the year ended December 31, 2016:
| Net cash provided by financing activities | $ | 118,000 | |
| Dividends paid | 18,400 | ||
| Loss from discontinued operations, net of tax savings of $41,367 | 124,100 | ||
| Income tax expense | 27,355 | ||
| Other selling expenses | 12,000 | ||
| Net sales | 649,200 | ||
| Advertising expense | 46,500 | ||
| Accounts receivable | 57,000 | ||
| Cost of goods sold | 370,044 | ||
|
General and administrative expenses |
142,500 |
a. Calculate the operating income for Manahan Co. for the year ended December 31, 2016
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B)
Calculate the company's net income for 2016.
In: Accounting
1. Quick Ratio= current assets-inventories/ current liabilities
2. Debt to Assets ratio= total debt/total assets
3. Earnings Per Share (EPS)=total earnings/outstanding shares
(must first solve net income-preferred divideneds= total earnings)
4. Net Income (Net profit)=total revenues-total expenses
I need help finding the answer to these equations for Target Corporation for 2015 and 2016.
please refer to the links for the 10k reports for the company.
2015- https://corporate.target.com/_media/TargetCorp/annualreports/2015/pdfs/Target-2015-Annual-Report.pdf
2016- https://corporate.target.com/_media/TargetCorp/annualreports/2016/pdfs/Target-2016-Annual-Report.pdf?ext=.pdf
In: Accounting
Man's Clothing is a manufacturer of designer suits. For June 2016, each suit is budgeted to take 3 labor-hours. The budgeted number of suits to be manufactured in June 2016 is 1,160. Man's Clothing allocates fixed manufacturing overhead to each suit using budgeted direct manufacturing labor-hours per suit. Data pertaining to fixed manufacturing overhead costs for June 2016 are budgeted, $52,200, and actual, $63,870. In June 2016 there were 1,200 suits started and completed. There were no beginning or ending inventories of suits.
Requirements
1. Compute the spending variance for fixed manufacturing overhead. Comment on the results.
2. Compute the production-volume variance for June 201. What inferences can the clothing company draw from this variance?
In: Accounting
The Banana Republic’s stock of capital at the end of 2015 was $200 billions. The Republic’s investment during the year 2016 was $ 40 billions. The depreciation rate in the Republic was 10%.
23- Depreciation of the capital during the year 2016 was _______
a. $20.0 billions c. $13.0 billions
b. $24.0 billions d. $180.0 billions e. $10.0 billions
24- The net investment during the 2016 in the Republic was _______
a. $20.0 billions c. $13.0 billions
b. $8.0 billions d. $10.9 billionse. $16.0 billions
25. The stock of capital at the end of 2016 was _________
a. $100.0 billions c. $13.0 billions
b. $220.0 billions d. $93.0 billions
e. can’t be determined
I know the answers I need to know formulas/ how to get the answers
In: Economics
The unadjusted trial balance of the Manufacturing Equitable at December 31, 2016, the end of its fiscal year, included the following account balances. Manufacturing’s 2016 financial statements were issued on April 1, 2017. Accounts receivable $ 102,500 Accounts payable 39,400 Bank notes payable 614,000 Mortgage note payable 1,294,000 Other information: a. The bank notes, issued August 1, 2016, are due on July 31, 2017, and pay interest at a rate of 12%, payable at maturity. b. The mortgage note is due on March 1, 2017. Interest at 11% has been paid up to December 31 (assume 11% is a realistic rate). Manufacturing intended at December 31, 2016, to refinance the note on its due date with a new 10-year mortgage note. In fact, on March 1, Manufacturing paid $272,000 in cash on the principal balance and refinanced the remaining $1,022,000. c. Included in the accounts receivable balance at December 31, 2016, were two subsidiary accounts that had been overpaid and had credit balances totaling $19,750. The accounts were of two major customers who were expected to order more merchandise from Manufacturing and apply the overpayments to those future purchases. d. On November 1, 2016, Manufacturing rented a portion of its factory to a tenant for $33,600 per year, payable in advance. The payment for the 12 months ended October 31, 2017, was received as required and was credited to rent revenue. Required: 1. Prepare any necessary adjusting journal entries at December 31, 2016, pertaining to each item of other information (a–d). (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) 2. Prepare the current and long-term liability sections of the December 31, 2016, balance sheet.
In: Accounting
Except for the earnings per share statistics, the 2016, 2017, and 2018 income statements for Ace Group Inc. were originally presented as follows:Required:
1. Calculate the 11 missing amounts. (Loss should be indicated by a minus sign.)
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*No
preferred shares have been issued.
2.
Calculate
the weighted-average number of common shares outstanding during the
following years:
(Do not round intermediate calculations.
Round your answers to nearest whole
number.)
|
3. Prepare the earnings per share income statement presentation during the following years: (Round your answers to 2 decimal places. Negative amounts should be indicated by a minus sign.)
|
In: Accounting
Absorption and Variable Costing Comparisons: Sales
Exceed Production
Wright Development purchases, develops, and sells commercial
building sites. As the sites are sold, they are cleared at an
average cost of $2,500 per site. Storm drains and driveways are
also installed at an average cost of $5,500 per site. Selling costs
are 10 percent of sales price. Administrative costs are $420,000
per year. During 2016, the company bought 1,000 acres of land for
$5,000,000 and divided it into 200 sites of equal size. The average
selling price per site was $85,000 during 2016 when 50 sites were
sold. During 2017, the company purchased and developed another
1,000 acres, divided into 200 sites. The purchase price was again
$5,000,000. Sales totaled 300 sites in 2017 at an average price of
$85,000.
Required a. Prepare 2016 and 2017 functional income statements using absorption costing.
Use a negative sign only to indicate a net loss for income. Otherwise, do not use negative signs with your answers.
| Wright Development | ||
|---|---|---|
| Functional Income Statements | ||
| For the Years 2016 and 2017 | ||
| 2016 | 2017 | |
| Sales | $Answer | $Answer |
| Cost of sales | Answer | Answer |
| Gross profit | Answer | Answer |
| Selling and administrative expenses: | Answer | Answer |
| Net income (loss) | $Answer | $Answer |
b. Prepare 2016 and 2017 contribution income statements using
variable costing.
Use a negative sign only to indicate a net loss for income. Otherwise, do not use negative signs with your answers.
| Wright Development | ||
|---|---|---|
| Contribution Income Statements | ||
| For the Years 2016 and 2017 | ||
| 2016 | 2017 | |
| Sales | $Answer | $Answer |
| Variable costs | Answer | Answer |
| Contribution margin | Answer
Incorrect |
Answer |
| Fixed expenses | Answer | Answer |
| Net income (loss) | $Answer | $Answer |
In: Accounting
Presented here are summarized data from the balance sheets and income statements of Wiper, Inc.:
| WIPER, INC. | |||||||||
| Condensed Balance Sheets | |||||||||
| December 31, 2017, 2016, 2015 | |||||||||
| (in millions) | |||||||||
| 2017 | 2016 | 2015 | |||||||
| Current assets | $ | 707 | $ | 939 | $ | 793 | |||
| Other assets | 2,419 | 1,926 | 1,725 | ||||||
| Total assets | $ | 3,126 | $ | 2,865 | $ | 2,518 | |||
| Current liabilities | $ | 583 | $ | 836 | $ | 724 | |||
| Long-term liabilities | 1,530 | 997 | 870 | ||||||
| Stockholders’ equity | 1,013 | 1,032 | 924 | ||||||
| Total liabilities and stockholders' equity | $ | 3,126 | $ | 2,865 | $ | 2,518 | |||
| WIPER, INC | ||||||
| Selected Income Statement and Other Data | ||||||
| For the year Ended December 31, 2017 and 2016 | ||||||
| (in millions) | ||||||
| 2017 | 2016 | |||||
| Income statement data: | ||||||
| Sales | $ | 3,056 | $ | 2,919 | ||
| Operating income | 302 | 316 | ||||
| Interest expense | 90 | 71 | ||||
| Net income | 209 | 204 | ||||
| Other data: | ||||||
| Average number of common shares outstanding | 41.9 | 47.3 | ||||
| Total dividends paid | $ | 56.0 | $ | 52.9 | ||
Required:
a. Calculate return on investment, based on net income and average total assets, for 2017 and 2016. (Do not round intermediate calculations. Round your answers to 1 decimal place.)
b. Calculate return on equity for 2017 and 2016. (Round your answers to 1 decimal place.)
c. Calculate working capital and the current ratio for each of the past three years. (Enter your answers in millions (i.e., 5,000,000 should be entered as 5). Round "Current ratio" to 1 decimal place.)
d. Calculate earnings per share for 2017 and 2016. (Round your answers to 2 decimal places.)
i. Calculate Wiper's debt ratio and debt/equity ratio at December 31, 2017 and 2016. (Round "Debt ratio" to 1 decimal place and "Debt/equity ratio" to the nearest whole percent.)
In: Accounting
Must be in C++ and we can not use STR[] we must use STR.at()
Write a program that:
Example 1:
Enter name: Grace Hopper Index of last character: 11 Last 3 characters of first name: ace First 3 characters of last name: Hop
Example 2:
Enter name: Dorothy J. Vaughan Index of last character: 17 Last 3 characters of first name: thy First 3 characters of last name: Vau
This is my code:
#include <iostream>
#include <string>
using namespace std;
int main()
{
string userFirstname;
string userLastname;
string userMiddlename;
cout << "Enter Name: ";
cin >> userFirstname;
cin >> userMiddlename;
cin >> userLastname;
cout << userFirstname << userMiddlename
<< userLastname << endl;
cout << "Index of last character: ";
cout << ((userFirstname.size() +
userLastname.size()) - 1);
cout << endl;
cout << "Last 3 characters of first name:
";
cout << (userFirstname.at(userFirstname.size() -
3)) << (userFirstname.at(userFirstname.size() - 2)) <<
(userFirstname.at(userFirstname.size() - 1)) << endl;
cout << "First 3 characters of last name:
";
cout << userLastname.at(1) <<
userLastname.at(2) << userLastname.at(3) << endl;
return 0;
}
In: Computer Science