On December 31, Pacifica, Inc., acquired 100 percent of the voting stock of Seguros Company. Pacifica will maintain Seguros as a wholly owned subsidiary with its own legal and accounting identity. The consideration transferred to the owner of Seguros included 58,430 newly issued Pacifica common shares ($20 market value, $5 par value) and an agreement to pay an additional $130,000 cash if Seguros meets certain project completion goals by December 31 of the following year. Pacifica estimates a 50 percent probability that Seguros will be successful in meeting these goals and uses a 4 percent discount rate to represent the time value of money.

Immediately prior to the acquisition, the following data for both firms were available:

In addition, Pacifica assessed a research and development project under way at Seguros to have a fair value of $137,000. Although not yet recorded on its books, Pacifica paid legal fees of $20,400 in connection with the acquisition and $10,200 in stock issue costs.

a. Prepare Pacifica’s entries to account for the consideration transferred to the former owners of Seguros, the direct combination costs, and the stock issue and registration costs.(Use a 0.961538 present value factor where applicable. If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)

b.&c. Present a worksheet showing the postacquisition column of accounts for Pacifica and the consolidated balance sheet as of the acquisition date.

(For accounts where multiple consolidation entries are required, combine all debit entries into one amount and enter this amount in the debit column of the worksheet. Similarly, combine all credit entries into one amount and enter this amount in the credit column of the worksheet. Round your answers to the nearest whole dollar.)

On January 1, 2017, Corgan Company acquired 70 percent of the outstanding voting stock of Smashing, Inc., for a total of $1,190,000 in cash and other consideration. At the acquisition date, Smashing had common stock of $850,000, retained earnings of $400,000, and a noncontrolling interest fair value of $510,000. Corgan attributed the excess of fair value over Smashing's book value to various covenants with a 20-year remaining life. Corgan uses the equity method to account for its investment in Smashing.

During the next two years, Smashing reported the following:

Solomon Manufacturing Company was started on January 1, 2018, when it acquired $80,000 cash by issuing common stock. Solomon immediately purchased office furniture and manufacturing equipment costing $9,100 and $33,100, respectively. The office furniture had an eight-year useful life and a zero salvage value. The manufacturing equipment had a $3,500 salvage value and an expected useful life of four years. The company paid $11,300 for salaries of administrative personnel and $15,600 for wages to production personnel. Finally, the company paid $13,000 for raw materials that were used to make inventory. All inventory was started and completed during the year. Solomon completed production on 4,800 units of product and sold 3,880 units at a price of $15 each in 2018. (Assume that all transactions are cash transactions and that product costs are computed in accordance with GAAP.)

Required

1. Determine the total product cost and the average cost per unit of the inventory produced in 2018. (Round "Average cost per unit" to 2 decimal places.)

2. Determine the amount of cost of goods sold that would appear on the 2018 income statement. (Do not round intermediate calculations.)

3. Determine the amount of the ending inventory balance that would appear on the December 31, 2018, balance sheet. (Do not round intermediate calculations.)

4. Determine the amount of net income that would appear on the 2018 income statement. (Round your answer to the nearest dollar amount.)

5. Determine the amount of retained earnings that would appear on the December 31, 2018, balance sheet. (Round your answer to the nearest dollar amount.)

6. Determine the amount of total assets that would appear on the December 31, 2018, balance sheet. (Round your answer to the nearest dollar amount.)

On January 1, 2021, Marshall Company acquired 100 percent of the outstanding common stock of Tucker Company. To acquire these shares, Marshall issued $310,000 in long-term liabilities and 20,000 shares of common stock having a par value of $1 per share but a fair value of $10 per share. Marshall paid $24,000 to accountants, lawyers, and brokers for assistance in the acquisition and another $9,000 in connection with stock issuance costs. Prior to these transactions, the balance sheets for the two companies were as follows: Marshall Company Book Value Tucker Company Book Value Cash $ 75,000 $ 38,800 Receivables 354,000 90,000 Inventory 380,000 229,000 Land 246,000 253,000 Buildings (net) 476,000 274,000 Equipment (net) 174,000 50,400 Accounts payable (241,000 ) (41,400 ) Long-term liabilities (480,000 ) (310,000 ) Common stock—$1 par value (110,000 ) Common stock—$20 par value (120,000 ) Additional paid-in capital (360,000 ) 0 Retained earnings, 1/1/21 (514,000 ) (463,800 ) Note: Parentheses indicate a credit balance. In Marshall’s appraisal of Tucker, it deemed three accounts to be undervalued on the subsidiary’s books: Inventory by $9,000, Land by $25,800, and Buildings by $32,200. Marshall plans to maintain Tucker’s separate legal identity and to operate Tucker as a wholly owned subsidiary. Determine the amounts that Marshall Company would report in its postacquisition balance sheet. In preparing the postacquisition balance sheet, any required adjustments to income accounts from the acquisition should be closed to Marshall’s retained earnings. Other accounts will also need to be added or adjusted to reflect the journal entries Marshall prepared in recording the acquisition. To verify the answers found in part (a), prepare a worksheet to consolidate the balance sheets of these two companies as of January 1, 2021.

Ayota Car Company produces a car that sells in Japan for ¥1.8 million. On September 1, the beginning of the model year, the exchange rate is ¥150:$1. Consequently, Ayota sets the U.S. sticker price at $22,000.

Suggest two production strategies for Ayota to improve its situation?

All of the following are management tools available for a U.S. company to hedge its exposures in foreign current transactions except:

D. Foreign currency options

Examine the countries where your company does business according to where they rank on the Hofstede cultural dimensions. Think of some examples of how a U.S. manager would need to modify his or her behavior when communicating with associates from one or more of these foreign countries.

4. There is data for you in the tab called EComSales. It comes from the Federal Reserve and represents quarterly e-commerce sales data in the U.S. for Quarter 4, 1999 to Quarter 4, 2019. Month 1=Q1, Month 4=Q2, Month 7=Q3, Month 10 = Q4. Run a regression forecasting sales for all 4 quarters in 2020. Print your regression results in a new tab. Rename that tab Answer Q4. In that cells below your regression results, forecast sales for Q1:2020, Q2:2020, Q3:2020, and Q4:2020. Round all answers to the nearest dollar in Excel and put a comma in so I can read it easier (do not round by hand or put the comma in by hand– set up excel to do the rounding and the comma for you).

IT IS NOT LETTING ME POST CORRECTLY, THE COLUMN OF 5553 IS FOR Q1, THE 6059 FOR Q2, THE 6892 FOR Q3 AND THE 5241 FOR Q4

PLEASE EXPLAIN STEP BY STEP AND PUT EXCEL FORMULAS! THANK YOU

On January 1, 2018, Cullumber Inc. granted stock options to officers and key employees for the purchase of 20,000 shares of the company’s $10 par common stock at $27 per share. The options were exercisable within a 5-year period beginning January 1, 2020, by grantees still in the employ of the company, and expiring December 31, 2024. The service period for this award is 2 years. Assume that the fair value option-pricing model determines total compensation expense to be $323,200.

On April 1, 2019, 2,000 options were terminated when the employees resigned from the company. The market price of the common stock was $33 per share on this date.

On March 31, 2020, 12,000 options were exercised when the market price of the common stock was $41 per share.

Prepare journal entries to record issuance of the stock options, termination of the stock options, exercise of the stock options, and charges to compensation expense, for the years ended December 31, 2018, 2019, and 2020. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.)

Accounts receivable transactions are provided below for J Pharoah Co.

Dec. 31, 2020 The company estimated that 4% of its accounts receivable would become uncollectible. The balances in the Accounts Receivable account and Allowance for Doubtful Accounts were $661,000 and $2,700 (debit), respectively.

Mar. 5, 2021 The company determined that R. Mirza’s $3,500 account and D. Wight’s $6,900 account were uncollectible. The company’s accounts receivable were $691,400 before the accounts were written off.

June 6, 2021 Wight paid the amount that had been written off on March 5. The company’s accounts receivable were $650,600 prior to recording the cash receipt for Wight.

1) Post the journal entries to Allowance for Doubtful Accounts and calculate the new balance after each entry. Allowance for Doubtful Accounts Date Explanation Ref. Debit Credit Balance Dec. 31, 2020 Balance unadjusted Debit Dec. 31, 2020 AJE Mar. 5, 2021 Write off Mirza Mar. 5, 2021 Write off Wight June 6, 2021 Reverse write off