Investment in Equity Securities with No Significant Influence

Investment in Equity Securities with No Significant Influence Zyggy Corporation invests in the stock of other companies for trading purposes. Zyggy has the following investment activity during 2018, 2019, and 2020:

• Purchased stock of Allen Corporation on February 3, 2018, for $160,000. The investment was sold on June 18, 2018, for $168,000.
• Purchased stock of Becker Corporation on October 29, 2018, for $320,000. The investment had a fair value of $304,000 on December 31, 2018, and was sold for $324,000 on March 1, 2019.
• Purchased stock of Corey Corporation on November 1, 2018, for $480,000. Its fair value on December 31, 2018 and 2019 was $512,000 and $408,000, respectively. The investment was sold for $400,000 on February 15, 2020.

b. What gains and losses are reported on Zyggy’s income statements for 2018, 2019, and 2020?

Use a negative sign with answers to indicate a net loss, if applicable.

The Rockwell Corporation uses a periodic inventory system and has used the FIFO cost method since inception of the company in 1979. In 2018, the company decided to change to the average cost method. Data for 2018 are as follows:

Additional information:

1. The company's effective income tax rate is 40% for all years.
2. If the company had used the average cost method prior to 2018, ending inventory for 2017 would have been $130,000.
3. 7,000 units remained in inventory at the end of 2018.

Required:
1. Prepare the journal entry at the beginning of 2018 to record the change in principle.
2. In the 2018–2016 comparative financial statements, what will be the amounts of cost of goods sold and inventory reported for 2018?
  

Accounting Equation

Inspirational Inc. is a motivational consulting business. At the end of its accounting period, October 31, 2017, Inspirational has assets of $5,250,000 and liabilities of $1,600,000. Using the accounting equation and considering each case independently, determine the following amounts:

a. Stockholders' equity as of October 31, 2017.
$

b. Stockholders’ equity as of October 31, 2018, assuming that assets increased by $800,000 and liabilities increased by $330,000 during 2018.
$

c. Stockholders' equity as of October 31, 2018, assuming that assets decreased by $600,000 and liabilities increased by $140,000 during 2018.
$

d. Stockholders' equity as of October 31, 2018, assuming that assets increased by $440,000 and liabilities decreased by $90,000 during 2018.
$

e. Net income (or net loss) during 2018, assuming that as of October 31, 2018, assets were $6,140,000, liabilities were $1,950,000, and no additional common stock was issued or dividends paid.
Net income    $

Inspirational Inc. is a motivational consulting business. At the end of its accounting period, October 31, 2017, Inspirational has assets of $5,250,000 and liabilities of $1,600,000. Using the accounting equation and considering each case independently, determine the following amounts: a. Stockholders' equity as of October 31, 2017. $ 3,650,000 b. Stockholders’ equity as of October 31, 2018, assuming that assets increased by $800,000 and liabilities increased by $330,000 during 2018. $ 4,120,000 c. Stockholders' equity as of October 31, 2018, assuming that assets decreased by $600,000 and liabilities increased by $140,000 during 2018. $ d. Stockholders' equity as of October 31, 2018, assuming that assets increased by $440,000 and liabilities decreased by $90,000 during 2018. $ e. Net income (or net loss) during 2018, assuming that as of October 31, 2018, assets were $6,140,000, liabilities were $1,950,000, and no additional common stock was issued or dividends paid. Net income $

Accounting Equation Inspirational Inc. is a motivational consulting business. At the end of its accounting period, October 31, 2017, Inspirational has assets of $5,250,000 and liabilities of $1,600,000. Using the accounting equation and considering each case independently, determine the following amounts: a. Stockholders' equity as of October 31, 2017. $ b. Stockholders’ equity as of October 31, 2018, assuming that assets increased by $800,000 and liabilities increased by $330,000 during 2018. $ c. Stockholders' equity as of October 31, 2018, assuming that assets decreased by $600,000 and liabilities increased by $140,000 during 2018. $ d. Stockholders' equity as of October 31, 2018, assuming that assets increased by $440,000 and liabilities decreased by $90,000 during 2018. $ e. Net income (or net loss) during 2018, assuming that as of October 31, 2018, assets were $6,140,000, liabilities were $1,950,000, and no additional common stock was issued or dividends paid. Net income $

On July 1, 2018 a full year’s insurance premium of $2,400, covering the period July 1, 2018,to June 30, 2019 was paid and debited to insurance expense. Assume the following:



The company has a calendar fiscal year.



January 1, 2018, retained earnings balance is $20,000.



2018 reported net income (assuming the error is not discovered)is $22,800.



2019 net income (assuming the error is not discovered) is $30,000.



2020 net income is $40,000. Ignore taxes

REQUIRED:

a.

List the effects of the error on affected accounts and on net income in 2018 and 2019,assuming no adjusting entry is made on December 31, 2018.

b.

Prepare the entry to record the error if discovered in 2018.

c.

Prepare the entry to record the error if discovered in 2019, and the 2018 and 2019 retained earnings sections of the statement of stockholders’ equity.

d.

Prepare the entry (if needed) to record the error if discovered in 2020, and the 2019 and 2020 retained earnings sections of the statement of stockholders’ equity.

The six-month forward price of 1g gold is $2255.69. if the risk free rate is 5% per annum and no other holding cost is involved the current price of this gold should be $2000. (True/False)

In 2000 words explain media in microbiology

different types of media,

a culture media,

importance of media in microbiology

methodology with image

how to apply aseptic techniques

how autoclave works with image, the procedures

Write a note on nitrogen-fixing bio-fertilizers and phosphate-solubilizing bio-fertilizers. Discuss how one can control the pollution from fertilizer industries.

(No Plagiarism; Word Limit: 2000 Words)