Kinkaid Co. was incorporated at the beginning of this year and
had a number of transactions. The following journal entries
impacted its stockholders’ equity during its first year of
operations.
| General Journal | Debit | Credit | |
| a. | Cash | 310,000 | |
| Common Stock, $25 Par Value | 230,000 | ||
| Paid-In Capital in Excess of Par Value, Common Stock | 80,000 | ||
| b. | Organization Expenses | 190,000 | |
| Common Stock, $25 Par Value | 130,000 | ||
| Paid-In Capital in Excess of Par Value, Common Stock | 60,000 | ||
| c. | Cash | 43,000 | |
| Accounts Receivable | 18,000 | ||
| Building | 82,400 | ||
| Notes Payable | 59,800 | ||
| Common Stock, $25 Par Value | 53,600 | ||
| Paid-In Capital in Excess of Par Value, Common Stock | 30,000 | ||
| d. | Cash | 138,000 | |
| Common Stock, $25 Par Value | 77,000 | ||
| Paid-In Capital in Excess of Par Value, Common Stock | 61,000 | ||
Required:
2. How many shares of common stock are outstanding
at year-end?
3. What is the total paid-in capital at
year-end?
4. What is the book value per share of the common
stock at year-end if total paid-in capital plus retained earnings
equals $798,000? (include numerator and denominator for both)
part two
Kohler Corporation reports the following components of
stockholders’ equity at December 31, 2018.
| Common stock—$25 par value, 100,000 shares authorized, 50,000 shares issued and outstanding |
$ | 1,250,000 | |
| Paid-in capital in excess of par value, common stock | 70,000 | ||
| Retained earnings | 400,000 | ||
| Total stockholders' equity | $ | 1,720,000 | |
During 2019, the following transactions affected its stockholders’
equity accounts.
| Jan. | 2 | Purchased 4,500 shares of its own stock at $20 cash per share. | ||
| Jan. | 5 | Directors declared a $4 per share cash dividend payable on February 28 to the February 5 stockholders of record. | ||
| Feb. | 28 | Paid the dividend declared on January 5. | ||
| July | 6 | Sold 1,688 of its treasury shares at $24 cash per share. | ||
| Aug. | 22 | Sold 2,812 of its treasury shares at $17 cash per share. | ||
| Sept. | 5 | Directors declared a $4 per share cash dividend payable on October 28 to the September 25 stockholders of record. | ||
| Oct. | 28 | Paid the dividend declared on September 5. | ||
| Dec. | 31 | Closed the $388,000 credit balance (from net income) in the Income Summary account to Retained Earnings. |
Required:
1. Prepare journal entries to record each of these
transactions.
2. Prepare a statement of retained earnings for
the year ended December 31, 2019.
3. Prepare the stockholders’ equity section of the
company’s balance sheet as of December 31, 2019.
part 3
At September 30, the end of Beijing Company’s third quarter, the
following stockholders’ equity accounts are reported.
| Common stock, $12 par value | $ | 360,000 |
| Paid-in capital in excess of par value, common stock | 100,000 | |
| Retained earnings | 320,000 | |
In the fourth quarter, the following entries related to its equity
are recorded.
| Date | General Journal | Debit | Credit |
| Oct. 2 | Retained Earnings | 70,000 | |
| Common Dividend Payable | 70,000 | ||
| Oct. 25 | Common Dividend Payable | 70,000 | |
| Cash | 70,000 | ||
| Oct. 31 | Retained Earnings | 79,000 | |
| Common Stock Dividend Distributable | 38,000 | ||
| Paid-In Capital in Excess of Par Value, Common Stock | 41,000 | ||
| Nov. 5 | Common Stock Dividend Distributable | 38,000 | |
| Common Stock, $12 Par Value | 38,000 | ||
| Dec. 1 | Memo—Change the title of the common stock | ||
| account to reflect the new par value of $4. | |||
| Dec. 31 | Income Summary | 250,000 | |
| Retained Earnings | 250,000 | ||
Required:
2. Complete the following table showing the equity
account balances at each indicated date.
In: Accounting
Put a JTextField in the north of the JFrame along with a JLabel that says: Year
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In: Computer Science
The data show the population (in thousands) for a recent year of a sample of cities in South Carolina.
| 29 | 26 | 15 | 13 | 17 | 58 |
| 14 | 25 | 37 | 19 | 40 | 67 |
| 23 | 10 | 97 | 12 | 129 | |
| 27 | 20 | 18 | 120 | 35 | |
| 66 | 21 | 11 | 43 | 22 |
Source: U.S. Census Bureau.
Find the data value that corresponds to each percentile.
a. 40th percentile
b. 75th percentile
c. 90th percentile
d. 30th percentile
Using the same data, find the percentile corresponding to the given data value.
e. 27
f. 40
g. 58
h. 67
In: Math
There is a par 30 year, 6% bond. What is the % alteration, if the ytm alters by 2%? Do it with duration alone. Then, find the change, if you include convexity also. The convexity is 40.
Please show formula and show all work.
In: Finance
Assume for a given year there is a population of 1,725,000 people, 345,000 of whom are 65 years younger. There are 22,425 live births, 13,800 deaths in all age groups from all causes, 10,350 deaths for those 65 and above, 4000 deaths from heart disease, 7000 deaths from cancer, 95 deaths among infants less than 28 days, 140 deaths among infants less than one year (including those < 28 days), and 6 deaths among pregnant mothers. Assume that there 40,000 new cases of influenza, 45,000 people have influenza at some point in time during the year. Calculate the following rates to one decimal place. (15 points)
a. crude mortality rate (per 100,000)
b. age-specific mortality rate among those 65 and above (per
100,000) c. proportionate mortality rate for cancer
In: Math
workout for a 21 year old volleyball player for muscular strength
In: Anatomy and Physiology
At the end of the year, a company offered to buy 4,650 units of a product from X Company for $11.00 each instead of the company's regular price of $17.00 each. The following income statement is for the 68,900 units of the product that X Company has already made and sold to its regular customers:
| Sales | $1,171,300 | |
| Cost of goods sold | 596,674 | |
| Gross margin | $574,626 | |
| Selling and administrative costs | 175,006 | |
| Profit | $399,620 | |
For the year, variable cost of goods sold were $457,496, and
variable selling and administrative costs were $93,704. The special
order product has some unique features that will require additional
material costs of $0.89 per unit and the rental of special
equipment for $2,500.
4. Profit on the special order would be
5. The marketing manager thinks that if X Company accepts the special order, regular customers will be lost unless the selling price for them is reduced by $0.11. The effect of reducing the selling price will be to decrease firm profits by
In: Accounting
The comparative balance sheets of Sheridan Inc. at the beginning
and the end of the year 2017 are as follows.
|
SHERIDAN INC. |
|||||||
|
Dec. 31, 2017 |
Jan. 1, 2017 |
Inc./Dec. |
|||||
| Assets | |||||||
| Cash | $ 46,990 | $ 14,990 | $32,000 | Inc. | |||
| Accounts receivable | 94,720 | 89,730 | 4,990 | Inc. | |||
| Equipment | 42,720 | 23,730 | 18,990 | Inc. | |||
| Less: Accumulated Depreciation-Equipment | 20,720 | 11,000 | 9,720 | Inc. | |||
| Total | $163,710 | $117,450 | |||||
| Liabilities and Stockholders’ Equity | |||||||
| Accounts payable | $ 23,720 | $ 16,730 | 6,990 | Inc. | |||
| Common stock | 101,990 | 81,730 | 20,260 | Inc. | |||
| Retained earnings | 38,000 | 18,990 | 19,010 | Inc. | |||
| Total | $163,710 | $117,450 | |||||
Net income of $47,720 was reported, and dividends of $28,710 were
paid in 2017. New equipment was purchased and none was sold.
Prepare a statement of cash flows for the year 2017.
(Show amounts that decrease cash flow with either a -
sign e.g. -15,000 or in parenthesis e.g.
(15,000).)
In: Accounting
You will be paying $10,000 a year in tuition expenses at the end of the next two years. Bonds currently yield 8%. (LO 11-2)
|
a. |
What is the present value and duration of your obligation? |
|
b. |
What maturity zero-coupon bond would immunize your obligation? |
|
c. |
Suppose you buy a zero-coupon bond with value and duration equal to your obligation. Now suppose that rates immediately increase to 9%. What happens to your net position, that is, to the difference between the value of the bond and that of your tuition obligation? |
|
d. |
What if rates fall to 7%? |
In: Finance
The accompanying data are the percentage of babies born prematurely in a particular year for the 50 U.S. states and the District of Columbia (DC). State Premature Percent State Premature Percent State Premature Percent Alabama 12.3 Kentucky 11.3 North Dakota 9.0 Alaska 9.1 Louisiana 12.9 Ohio 10.9 Arizona 9.6 Maine 9.0 Oklahoma 10.9 Arkansas 10.6 Maryland 10.7 Oregon 8.3 California 8.9 Massachusetts 9.2 Pennsylvania 10.0 Colorado 9.0 Michigan 10.4 Rhode Island 9.2 Connecticut 9.8 Minnesota 9.3 South Carolina 11.4 Delaware 9.9 Mississippi 13.5 South Dakota 9.1 DC 10.2 Missouri 10.4 Tennessee 11.4 Florida 10.5 Montana 9.9 Texas 11.0 Georgia 11.4 Nebraska 9.7 Utah 9.7 Hawaii 10.6 Nevada 10.7 Vermont 8.5 Idaho 8.8 New Hampshire 8.8 Virginia 9.8 Illinois 10.7 New Jersey 10.2 Washington 8.7 Indiana 10.3 New Mexico 9.8 West Virginia 11.4 Iowa 9.9 New York 9.5 Wisconsin 9.8 Kansas 9.3 North Carolina 10.3 Wyoming 11.8 (a) The smallest value in the data set is 8.3 (Oregon), and the largest value is 13.5 (Mississippi). Are these values outliers? Explain. Any observations smaller than 8.3 Incorrect: Your answer is incorrect. % or larger than 13.5 Incorrect: Your answer is incorrect. % are considered outliers. Therefore, Oregon's data value (8.3%) Correct: Your answer is correct. an outlier and Mississippi's data value (13.5%) Changed: Your submitted answer was incorrect. Your current answer has not been submitted. an outlier. (b) Construct a boxplot for this data set. Comment on the interesting features of the plot. The boxplot shows Incorrect: Your answer is incorrect. and the distribution is . The minimum value is %, the lower quartile is %, the median is %, the upper quartile is %, and the maximum value is %.
In: Math