Interview a local police manager and ask what's the greatest problem facing law enforcement today and what approaches would they use to attack it?

Cranford Company completed and transferred out 2,900 units in May 2020. There were 200 units in the Work-in-Process Inventory on May 31, 2020, 30% complete as to conversion costs and 100% complete as to materials. The month's charges for conversion costs and material costs were $13,320 and $9,610, respectively. There was no beginning inventory on May 1, 2020. What is the cost of the work transferred-out during May, assuming that Cranford uses weighted-average process costing?

At the end of the financial year 2019, Strong Tool Company anticipated its revenues, expenses, capital expenditures and changes in working capital over the next 3 years (2020-2022) to be as shown in the table below.

The company estimated the depreciation charges to be fixed at $15,000 every year. The firm has a tax rate of 28% and a cost of capital of 15%.

Requirement 1: You are required to estimate the free cashflow available to the firm (FCFF) for the period of 2020-2022. Calculate each of the missing values in the table below (there are 20 missing values in total).

Requirement 2 Free cash flows beyond year 3 are estimated to grow at an annual rate of 5%. Apply the growing perpetuity formula to estimate the terminal value of Strong Tool Company as of year 3. What is the value of the terminal value today?

Requirement 3 Strong Tool Company's current value of existing debt is ​$80,000. Estimate the value of the equity of the company by applying the free cash flow to the firm method.

1. Calculate the cost of a Regular widget in 2020 using the traditional costing system.
2. Calculate the cost of a Regular widget in 2020 using the ABC system.
3. Explain why your results differ in questions 7 and 8. Be specific.
4. What characteristics of Company DEF suggest that changing to an ABC system might benefit it? Which costing system do you recommend Company DEF use? Why

The accounting department has also compiled the following data by product line for 2020:

Company DEF makes three types of widgets: Simple, Regular, and Deluxe. The company currently uses a traditional costing system with one indirect cost pool and machine hours as its allocation base; however, it is considering whether it should implement an activity-based costing (ABC) system in 2020. The accounting department has studied the indirect cost pool and developed the following cost pool data for use in an ABC system in 2020:

A company acquired a building, paying a portion of the purchase price in cash and issuing a mortgage note payable to the seller for the balance. In a statement of cash flows, what amount is included in investing activities for the above transaction?

Select one:

a. Cash payment

b. Acquisition price

c. Zero

d. Mortgage amount

“Indimex” is a Mexicam company that was intending to expand their fashion business, so they acquired new factory for USD 20 million, that would allow them to expand their business abroad. Its useful life is 20 years, and its expected residual value is USD 8 million.

Prepare a tabular comparison of the annual depreciation and book value for each of the first 3 years of service life under straight line and the double-declining-balance (DDB) depreciation method. Show all amounts in thousands of euros (rounded to the nearest thousand).

Hirsch Company acquired equipment at the beginning of 2017 at a cost of $128,000. The equipment has a five-year life with no expected salvage value and is depreciated on a straight-line basis. At December 31, 2017, Hirsch compiled the following information related to this equipment:

Assume that a U.S.–based company is issuing securities to foreign investors who require financial statements prepared in accordance with IFRS. Thus, adjustments to convert from U.S. GAAP to IFRS must be made. Ignore income taxes.

Required:

1.Prepare journal entries for this equipment for the years ending December 31, 2017, and December 31, 2018, under (1) U.S. GAAP and (2) IFRS.

- Record the entry for the purchase of equipment as per U.S. GAAP.

- Record the entry for the expense on depreciation of equipment as per U.S. GAAP

- Record the entry for the purchase of equipment as per IFRS.

- Record the entry for the expense on depreciation of equipment as per IFRS.

- Record the entry for the loss on impairment of equipment as per IFRS.

- Record the entry for the loss on impairment of equipment as per U.S. GAAP.

- Record the entry for the expense on depreciation of equipment as per U.S. GAAP.

- Record the entry for the expense on depreciation of equipment as per IFRS.

2. Prepare the entry(ies) that Hirsch would make on the December 31, 2017, and December 31, 2018, conversion worksheets to convert U.S. GAAP balances to IFRS. Ignore the possibility of any additional impairment at the end of 2018.

- Record the entry for the loss on impairment of equipment due to conversion from U.S. GAAP to IFRS.

- Record the entry for the loss on impairment of equipment due to conversion from U.S. GAAP to IFRS.

- Record the entry for reversing additional depreciation already recognized due to conversion from U.S. GAAP to IFRS

If a company, acquired a machine on December 31, 1982, in exchange for $4,000 in cash and a note payable. The company has to pay 8 annual payments of $15,000 with the first payment being made on December 31, 1983. Interest on the note is 9%.

How much interest expense will the company spend in 1984?

What is the carryingvalue of the loan in 1982 and what is the acquisition cost?

The machine has a useful life of 10 years, and a salvage value of $4,000. What's the carrying value after 4 years of useon December 31, 1986? What's the carrying value on December 31, 1992?

Buch Company acquired a piece of equipment in Year 1 at a cost of $100,000. The equipment has a 10-year estimated life, zero salvage value, and is depreciated on a straight-line basis. Technological innovations take place in the industry in which the company operates in Year 3. Buch gathers the following information for this piece of equipment at the end of Year 3: Expected future undiscounted cash flows - $75,000 Present value of expected future cash flows - $55,000 Net selling price - $63,000 What is the impairment loss under U.S. GAAP? Question 8 options: $0.

$15,000.

$7,000.

$9,000.

Hirsch Company acquired equipment at the beginning of 2017 at a cost of $124,300. The equipment has a five-year life with no expected salvage value and is depreciated on a straight-line basis. At December 31, 2017, Hirsch compiled the following information related to this equipment:                    Expected future cash flows from use of the equipment    $    106,400       Present value of expected future cash flows from use of the equipment        90,700       Fair value (selling price less costs to dispose)        86,350           Assume that a U.S.–based company is issuing securities to foreign investors who require financial statements prepared in accordance with IFRS. Thus, adjustments to convert from U.S. GAAP to IFRS must be made. Ignore income taxes.     Required:      Prepare journal entries for this equipment for the years ending December 31, 2017, and December 31, 2018, under (1) U.S. GAAP and (2) IFRS.      Prepare the entry(ies) that Hirsch would make on the December 31, 2017, and December 31, 2018, conversion worksheets to convert U.S. GAAP balances to IFRS. Ignore the possibility of any additional impairment at the end of 2018.