A manufacturer of fabricated metal products has acquired a new plasma table for $37,000. It is projected that the acquisition of this equipment will increase revenue by $10,000 per year. Operating costs for the machine will average $2,600 per year. The machine will be depreciated using the MACRS method, with a recovery period of 7 years. The company uses an after-tax MARR rate of 10% and has an effective tax rate of 30%.

2. Now, suppose that the duration of the project is six years and that an estimate of the value of the equipment cannot be obtained from the marketplace.

2.4. What is the tax on the disposal transaction?

As a long-term investment, Fair Company purchased 20% of Midlin Company’s 300,000 shares for $360,000 at the beginning of the reporting year of both companies. During the year, Midlin earned net income of $135,000 and distributed cash dividends of $0.25 per share. At year-end, the fair value of the shares is $375,000. 1. Assume no significant influence was acquired. Record the transactions from the purchase through the end of the year, including any adjustment for the investment’s fair value, if appropriate. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)

Required information

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Cascade Company was started on January 1, Year 1, when it acquired $168,000 cash from the owners. During Year 1, the company earned cash revenues of $96,300 and incurred cash expenses of $61,800. The company also paid cash distributions of $12,000.

Required
Prepare a Year 1 income statement, capital statement (statement of changes in equity), balance sheet, and statement of cash flows under each of the following assumptions. (Consider each assumption separately.)

c. Cascade is a corporation. It issued 11,000 shares of $11 par common stock for $168,00

South Hampton University is preparing its budget for the upcoming academic year. This is a specialised private university that charges fees for all degree courses. Currently, 30,000 students are enrolled on campus. However, the university is forecasting a 5 per cent growth in student numbers in the coming year, despite an increase in fees to $3,000 per subject. The following additional information has been gathered from an examination of university records and conversations with university managers:

 South Hampton is planning to award scholarships to 200 students, which will cover their fees.

 The average class has 80 students, and the typical student takes 4 subjects per semester. South Hampton operates 2 semesters per year.

 The average academic staff salary is $120,000 per annum including on-costs.

 South Hampton’s academic staff are evaluated on the basis of teaching, research, administration and professional/community service. Each of the academic staff teaches the equivalent of three subjects during the academic year.

Required:

a) Prepare a revenue budget for the upcoming academic year.

b) Determine the number of staff needed to cover classes.

c) Assume there is a shortage of full-time academic staff. List and explain at least five actions that South Hampton might take to accommodate the growing student numbers. (200 words)

A small University in Florida offers STEM (science, technology, engineering, and mathematics) internships to men in STEM majors at the university. A man must be 20 years old or older to meet the age requirement for the internships. The table below shows the probability distribution of the ages of the men in STEM majors at the university.

Ages 17 18 19 20 21 22 23 or older

Probability 0.005 0.107 0.111 0.252 0.249 0.213 0.063

a. Suppose one man is selected at random from the men in STEM majors at the university. What is the probability that the man selected will not meet the age requirement for the internships? Show your work and label your answer with appropriate probability notation.

The university will select a simple random sample of 10 men in STEM majors to participate in a focus group about the internships.

(b) What is the probability that exactly 2 of the 10 men selected will not meet the age requirement for the internships? Show your work, round your answer to four decimal places, and label your answer with appropriate probability notation.

(c) What is the probability that more than 2 of the 10 men selected will not meet the age requirement for the internships? Show your work, round your answer to four decimal places, and label your answer with appropriate probability notation.

Puppy Walk Inc. is a dog walking service and retailer of dog supplies and food operating out of Vancouver. The founder, Doggy Higgins is the president and owns 100% of the common shares. The company’s yearend is December 31. The inhouse bookkeeper had a car accident and is unfortunately not able to prepare the 2019 financial statements. It is now January 2020 and you have been asked to make any required adjusting journal entries and prepare the 2019 financial statements. The unadjusted trial balance for Puppy Walk is contained in the appendix: The following information has been made available for you to make any required adjusting entries. 1. The following invoices were received in January 2020 and were not accrued in 2019. Legal fees $1,200 Janitorial services $1,200 Air conditioner repairs $400 New photocopier $3,200 2. You noticed a purchase order placed by Puppy Walk was placed for a new warehouse forklift in November 2019 that will be delivered in April of 2020. At time the order was placed a $4,000 deposit was provided and it was charged to the equipment account. 3. 15% of the bank loan will be paid in 2020. The remainder will be paid over the following four years. No payments on the principal of the loan were made in 2019. 4. The interest rate on the bank loan is 7% per annuum paid quarterly. There was no payment made for the last quarter of the year 5. Depreciation on the current equipment is $21,000. 6. The now photocopier was delivered and operating November 30, 2019 and has a life of 4 years with a residual value of $400. Copyright Steve Gibson 2020 . 7. The insurance was purchased August 31, 2019 and covered two years from that date. 8. A physical review of some inventory in the warehouse that was purchased for $7,000 is now obsolete and worthless. (chapter 7 of textbook) 9. During 2019 an old photocopier that had an original cost of $3,000 and accumulated depreciation of $1,700 was thrown out. (chapter 8 of textbook). No entry was recorded at the time. 10. $11,000 of staff salaries were owed at the end of the year as well, Doggy Higgins is going to be paid a $10,000 bonus in January 2020. 11. A physical count of the supplies inventory indicated the value at year-end was $4,200. 12. In October a customer paid a $4,500 deposit for a custom dog cage to be delivered in January. At the time, this was recorded as sales. 13. Income is taxed at 25%. In Excel, prepare all the necessary journal entries, adjusted trial balance, closing entries, income statement, statement in changes in shareholders’ equity and balance sheet for December 31, 2019 and year ending December 31,2019.

Trial Balance as December 31, 2019 Debit Credit Cash 500,000 Accounts Payable 95,000 Accounts Receivable 270,000 Equipment 372,000 Accumulated Depreciation equipment 100,200 Advertising expense 25,000 Bank loan 300,000 Sales 2,650,000 Common shares 147,450 COGS 1,400,500 Dividends declared 150,000 Goodwill 185,000 Income tax expense interest expense-bank loan 15,750 inventory 320,000 Prepaid insurance 24,000 Rent expense 100,000 Retained earnings 452,000 Salaries expense 370,000 Bonus expense Supplies Inventory(A) 12,400 Customer deposits (L) Depreciation expense Legal fees Repairs expense interest payable Deposit (A) Insurance expense salary payable bonus payable supplies expense Loss on disposal of equipment Janitorial services Current portion of bank loan Income tax payable Total 3,744,650 3,744,650

Puppy Walk Inc. is a dog walking service and retailer of dog supplies and food operating out of Vancouver. The founder, Doggy Higgins is the president and owns 100% of the common shares. The company’s yearend is December 31. The inhouse bookkeeper had a car accident and is unfortunately not able to prepare the 2019 financial statements. It is now January 2020 and you have been asked to make any required adjusting journal entries and prepare the 2019 financial statements. The unadjusted trial balance for Puppy Walk is contained in the appendix: The following information has been made available for you to make any required adjusting entries. 1. The following invoices were received in January 2020 and were not accrued in 2019. Legal fees $1,200 Janitorial services $1,200 Air conditioner repairs $400 New photocopier $3,200 2. You noticed a purchase order placed by Puppy Walk was placed for a new warehouse forklift in November 2019 that will be delivered in April of 2020. At time the order was placed a $4,000 deposit was provided and it was charged to the equipment account. 3. 15% of the bank loan will be paid in 2020. The remainder will be paid over the following four years. No payments on the principal of the loan were made in 2019. 4. The interest rate on the bank loan is 7% per annuum paid quarterly. There was no payment made for the last quarter of the year 5. Depreciation on the current equipment is $21,000. 6. The now photocopier was delivered and operating November 30, 2019 and has a life of 4 years with a residual value of $400. Copyright Steve Gibson 2020 . 7. The insurance was purchased August 31, 2019 and covered two years from that date. 8. A physical review of some inventory in the warehouse that was purchased for $7,000 is now obsolete and worthless. (chapter 7 of textbook) 9. During 2019 an old photo copier that had an original cost of $3,000 and accumulated depreciation of $1,700 was thrown out. (chapter 8 of textbook). No entry was recorded at the time. 10. $11,000 of staff salaries were owed at the end of the year as well, Doggy Higgins is going to be paid a $10,000 bonus in January 2020. 11. A physical count of the supplies inventory indicated the value at year end was $4,200. 12.In October a customer paid a $4,500 deposit for a custom dog cage to be delivered in January. At the time, this was recorded as sales. 13. Income is taxed at 25%. In Excel, prepare all the necessary journal entries, adjusted trial balance, closing entries, income statement, statement in changes in shareholders’ equity and balance sheet for December 31, 2019 and year ending December 31,2019.

Trial Balance as December 31, 2019 Debit Credit Cash 500,000 Accounts Payable 95,000 Accounts Receivable 270,000 Equipment 372,000 Accumulated Depreciation equipment 100,200 Advertising expense 25,000 Bank loan 300,000 Sales 2,650,000 Common shares 147,450 COGS 1,400,500 Dividends declared 150,000 Goodwill 185,000 Income tax expense interest expense-bank loan 15,750 inventory 320,000 Prepaid insurance 24,000 Rent expense 100,000 Retained earnings 452,000 Salaries expense 370,000 Bonus expense Supplies Inventory(A) 12,400 Customer deposits (L) Depreciation expense Legal fees Repairs expense interest payable Deposit (A) Insurance expense salary payable bonus payable supplies expense Loss on disposal of equipment Janitorial services Current portion of bank loan Income tax payable Total 3,744,650 3,744,650

Portions of the financial statements for Parnell Company are provided below.

Required:
2. Prepare the cash flows from operating activities section of the statement of cash flows for Parnell Company using the indirect method. (Enter your answers in thousands (i.e., 10,000 should be entered as 10). Amounts to be deducted should be indicated with a minus sign.)

How did you feel about your new position as programmer Analyst? Do you feel your academic preparation which is MBA has been sufficient for you to be able to fulfil your current job expectations? Explain why or why not.

PLEASE ANSWER IN 350 WORDS AND IN WORD FORMAT ONLY.

THANKS

7. (a) Among the four types of unemployment, identify the economically best type and explain why it’s the best. (b) Identify the economically most costly type of unemployment and explain why it’s the most costly. (c) What type of unemployment are workers most likely to experience after they have earned an MBA degree? Explain.