The current assets and current liabilities sections of the balance sheet of Crane Company appear as follows.
|
CRANE COMPANY |
||||||||
| Cash | $ 41,300 | Accounts payable | $ 58,430 | |||||
| Accounts receivable | $96,300 | Notes payable | 63,280 | |||||
| Less: Allowance for doubtful accounts | 7,840 | 88,460 | $121,710 | |||||
| Inventory | 169,820 | |||||||
| Prepaid expenses | 8,620 | |||||||
| $308,200 | ||||||||
The following errors in the corporation’s accounting have been
discovered:
| 1. | January 2021 cash disbursements entered as of December 2020 included payments of accounts payable in the amount of $41,800, on which a cash discount of 2% was taken. | |
| 2. | The inventory included $28,590 of merchandise that had been received at December 31 but for which no purchase invoices had been received or entered. Of this amount, $11,340 had been received on consignment; the remainder was purchased f.o.b. destination, terms 2/10, n/30. | |
| 3. | Sales for the first four days in January 2021 in the amount of $28,680 were entered in the sales journal as of December 31, 2020. Of these, $21,510 were sales on account and the remainder were cash sales. | |
| 4. | Cash, not including cash sales, collected in January 2021 and entered as of December 31, 2020, totaled $35,520. Of this amount, $23,520 was received on account after cash discounts of 2% had been deducted; the remainder represented the proceeds of a bank loan. |
(a1) Calculate the following adjusted balances.
|
Cash |
$ |
|
|
Accounts Receivable |
$ |
|
|
Inventory |
$ |
|
|
Accounts Payable |
$ |
|
|
Notes Payable |
$ |
In: Accounting
Branson paid $573,200 cash for all of the outstanding common stock of Wolfpack, Inc., on January 1, 2020. On that date, the subsidiary had a book value of $430,000 (common stock of $200,000 and retained earnings of $230,000), although various unrecorded royalty agreements (10-year remaining life) were assessed at a $133,000 fair value. Any remaining excess fair value was considered goodwill.
In negotiating the acquisition price, Branson also promised to pay Wolfpack’s former owners an additional $44,000 if Wolfpack’s income exceeded $150,000 total over the first two years after the acquisition. At the acquisition date, Branson estimated the probability-adjusted present value of this contingent consideration at $30,800. On December 31, 2020, based on Wolfpack’s earnings to date, Branson increased the value of the contingency to $35,200.
During the subsequent two years, Wolfpack reported the following amounts for income and dividends:
| Net Income | Dividends Declared | |||||
| 2020 | $ | 79,500 | $ | 15,000 | ||
| 2021 | 89,500 | 25,000 | ||||
In keeping with the original acquisition agreement, on December 31, 2021, Branson paid the additional $44,000 performance fee to Wolfpack’s previous owners.
Prepare each of the following:
Branson’s entry to record the acquisition of the shares of its Wolfpack subsidiary.
Branson’s entries at the end of 2020 and 2021 to adjust its contingent performance obligation for changes in fair value and the December 31, 2021, payment.
Prepare consolidation worksheet entries as of December 31, 2021, assuming that Branson has applied the equity method.
Prepare consolidation worksheet entries as of December 31, 2021, assuming that Branson has applied the initial value method.
In: Accounting
Please show all work/provide explanations as appropriate, including clearly defining any variables that you use in the applied problems.
1) According to United Nations estimates ( http://www.worldometers.info/world-population/ ) , the population of the world at the start of 2020 was about 7.795 billion, and it is growing at about 1.05% per year.
a. Find an exponential growth model (i.e. write down an exponential function) that gives the earth’s population in billions as a function of time as measured by number of years after 2020. Be sure to clearly and carefully define your variables.
b. According to the model, what will the world population be in 2030? Solve algebraically as opposed to using a table of values or a graph.
c. Again, according to the model, how long will it take the population to double? Solve this algebraically; that is, do not simply use a table or graph.
d. In what year will the population reach 20 billion? Again, solve without resorting to a table of values or a graph.
2) Refer to the population model you found in problem 1. a. Sketch a graph of your model, displaying at least the next 200 years. You may carefully sketch the graph by hand on graph paper,
b. What is the average rate of change of the world population as described by your model over the next 100 years? (so, from 2020 to 2120, or t = 0 to t = 100)
c. What is the average rate of change from 2020 to 2050?
d. Describe how you could estimate the rate of change of the world population in 2030, and then carry out and show the steps you describe to give an estimate.
In: Advanced Math
Hubbard Division of the Market Company has an opportunity to invest in a new project. The project will yield an incremental operating income of $34,250 on average invested assets of $475,000. Hubbard currently has operating income of $215,000 on average invested assets of $2,025,000. Market Company requires a 4% rate of return on new projects.
a. What is Hubbard’s ROI before making an investment in the project? (Round your answer to 2 decimal places.)
b. What is Hubbard’s residual income before making an investment in the project?
c. What is Hubbard’s ROI after making the investment in the project? (Round your answer to 2 decimal places.)
d. What is Hubbard’s residual income after making the investment in the project?
In: Accounting
a . An economist estimates that a tax on labor income has had no
effect on the labor supply of affected taxpayers (in other words,
affected taxpayers work the same amount of hours after the tax is
imposed as they did before the tax was imposed). He therefore
concludes that the excess burden of the new tax is zero. Do you
agree? Why or why not? (Hint: the information given is telling you
that the uncompensated labor supply curve is perfectly
inelastic.)
b. Another economist estimates that a new tax on labor income has
had no effect on the wage received by workers. He argues that since
workers received the same wage before and after the tax is imposed,
there is no excess burden. Do you agree? Why or why not?
In: Statistics and Probability
If an object of mass m1 = 0.55 kg is sliding without friction in the +x-direction on a level surface at a speed of v1 = 0.72 m/s and it collides with a stationary object of mass m1 = 0.55 kg, determine the total initial and final momenta (before and after the collision) as well as the total initial and final Mechanical Energy (before and after the collision) for;
1) a perfectly elastic collision, and
2) a perfectly inelastic collision
Energy losses during an energy transformation process can be quantified as the efficiency;
e=useful energy out total energy in x 100%
3) State what the useful energies in and out are and then calculate the efficiency for the perfectly elastic and the efficiency for the perfectly inelastic collisions described above.
In: Physics
Using the data below, calculate the appropriate test. Do this manually and show all steps.
The data reflects word retention for older adults with early onset Alzheimer's before a memory game was played and after the game was played.
|
Before the Memory Game |
After the Memory Game |
|
4 |
8 |
|
5 |
9 |
|
2 |
6 |
|
5 |
7 |
|
6 |
9 |
|
5 |
9 |
|
3 |
6 |
|
4 |
6 |
|
3 |
7 |
|
5 |
9 |
|
8 |
9 |
|
7 |
6 |
|
6 |
9 |
|
5 |
10 |
|
7 |
9 |
|
6 |
7 |
|
9 |
9 |
|
8 |
7 |
|
8 |
3 |
|
8 |
4 |
|
9 |
6 |
|
8 |
7 |
|
7 |
10 |
|
8 |
9 |
|
9 |
13 |
In: Statistics and Probability
Julien and Sarah are married, file a joint return with AGI of $126,000, and have two dependent children, Kaya and Christopher. Kaya just finished her third year at college and Christopher just finished his first year of graduate school (fifth year of college). Qualified education expenses for 2019 were $4,000 for Kaya and $5,000 for Christopher.
Compute the following amounts for Julien and Sarah's education credits for 2019 :
a: American Opportunity Credit before any phaseout
b: American Opportunity Credit after any phaseout
c: Lifetime Learning Credit before any phaseout
d: Lifetime Learning Credit after any phaseout
e: Total education credits they can claim
In: Accounting
C++
Bubble Sort
Write a program that ask user to enter 7 numbers and store that in array. Display that all numbers before and after performing Bubble sort. You must have to create new function with required parameter to perform Bubble sort.
Sample Run :-
Enter 1 number :- 1
Enter 2 number :- 5
Enter 3 number :- 7
Enter 4 number :- 45
Enter 5 number :- 90
Enter 6 number :- 6
Enter 7 number :- 55
Numbers Before Bubble Sort :-
1 5 7 45 90 6 55
Numbers after Bubble sort :- 1 5 6 7 45 55 90
In: Computer Science
Consider the titration of a weak base (B- ) with a strong acid (HCl). Draw (this can be hand drawn) a pH (not pOH) vs mL HCl graph (it will not look the same as the one in question #13; if you start with a weak base, will the pH be low or high? As H+ is added, will the pH increase or decrease?). Label the titration curve with letters A-E, and describe the relative quantities of the dissociated base (B- ) and its conjugate acid (HB), H+ and OHat each point throughout the titration (before the ½ equivalence point [A], at the ½ equivalence point [B], after the ½ equivalence point but before the equivalence point [C], at the equivalence point [D], and after the equivalence point [E]). Locate the position where pH = pKb on your graph.
In: Chemistry