Please complete all the sections

Problem 1-35 Recording events in a horizontal statements model

CHECK FIGURES

a. Net Income: $23,000

e. Net Cash Flow from
Operating Activities: $23,000

Maben Company was started on January 1, 2018, and experienced the following events during its first year of operation:

Acquired $30,000 cash from the issue of common stock.

Borrowed $40,000 cash from National Bank.

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Earned cash revenues of $48,000 for performing services.

Paid cash expenses of $25,000.

Paid a $1,000 cash dividend to the stockholders.

Acquired an additional $20,000 cash from the issue of common stock.

Paid $10,000 cash to reduce the principal balance of the bank note.

Paid $53,000 cash to purchase land.

Determined that the market value of the land is $75,000.

Required

Record the preceding transactions in the horizontal statements model. Also, in the Cash Flows column, classify the cash flows as operating activities (OA), investing activities (IA), or financing activities (FA). The first event is shown as an example.

PROBLEM 1-35

a.

b. Total Assets = $         + $            = $

c.

PROBLEM 1-35 (cont.)

d. Net income $                .

e.

f.       Percentage of assets is provided as follows:

          Investors            ($           ÷ $             )     . %

          Creditors            ($            ÷ $             )       . %

          Earnings             ($            ÷ $             )       . %

g.     

please answer using excel and explain

What are the appropriate descriptive statistics to summarize the Company-Z daily sales in Pre- and Post- COVID-19 Y1 & Y2?   Can you visualize both random variables separately using the graphing technique? Explain why you used these descriptive statistics and this graphing technique?               
Given;

Periodic System— Calculating Ending Inventory and Cost of Sales using LIFO

The following information is available for Water Inc.

The company maintains a periodic inventory system. A physical inventory count shows 125 units in stock on January 31. What is (a) ending inventory on January 31, and (b) cost of goods sold for January, using the LIFO inventory method?

• Note: Round your final answers below to the nearest whole dollar.
• Use your rounded ending inventory answer to compute part b. cost of goods sold.

On May 1, 2020, Jackson Construction Company contracted to construct a factory building for a total contract price of $9,600,000. The building was completed by May 31,2022. The annual contract costs incurred, estimated costs to complete the contract, and accumulated billings to Fabrik for 2020, 2021, and 2022 are given below.                                                                       

                                                                                                            2020                                    2021                      2022

Contract costs incurred during the year                            $3,400,000            $2,400,000          $2,900,000

Estimated costs to complete the contract at Dec 31           4,600,000             3,100,000                    -0-

Billings                                                                                         1,200,000           4,100,000             4,300,000

"(a)   Using the percentage-of-completion method, prepare schedules to compute the profit or loss to be recognized as a result of this contract for the years ended December 31, 2020, 2021, and 2022. (Ignore income taxes.)

(b) Using the completed-contract method, prepare schedules to compute the profit or loss to be recognized as a result of this contract for the years ended December 31, 2020, 2021, and 2022. (Ignore incomes taxes.)"                               

can you explain step by step: Chapter 16 accounting intermediate II -Basic and diluted EPS

1-Assume that the following data relative to Rice company for 2020 is available:

transactions in common shares change    Cumulative

Jan. 1,2020 Beginning number    650,000

Apr 1,2020 Purchase of treasury shares (50,000) 600,000

June 1,2020 100% Stock dividend 600,000 1,200,000

Dec 1,2020 Issuance of shares 200,000 1,400,000

5% cumulative convertible preferred stock

$1,000,000 sold at par on January 1, 2020 convertible into 200,000 shares of common stock

Stock options:

Exercisable at the option price of $30 per share. Average market price in 2020, $35 and there were 60,000 options outstanding since 2017

(A) compute the basic earnings per share for 2020.

(B) compute the diluted earnings per share for 2020

Determining Merchandise to be Included or Excluded from Ending Inventory

The unadjusted inventory balance of Sara Ann Corp. is $500,000 on December 31, 2020, based on a physical inventory count. The following items must be considered before the inventory valuation is finalized.

a. On December 31, the physical inventory excluded $500 of merchandise inventory shipped to Sara Ann Corp. from a vendor f.o.b. destination that arrived on January 1, 2021.

b. On December 31, the physical inventory included $18,000 of merchandise inventory held on consignment by a customer. Sara Ann Corp. is the consignor.

c. On December 31, the physical inventory included $800 of merchandise held on consignment. The consignor is Sara Ann’s largest vendor.

d. $18,000 of in-transit merchandise was shipped f.o.b. shipping point to a customer and was excluded from the physical inventory count. The merchandise was shipped on December 28, 2020, and is expected to arrive at the customer on December 31, 2020.

e. Goods are in-transit from a vendor to Sara Ann on December 31, 2020. The invoice cost was $12,000 and the goods were shipped f.o.b. shipping point on December 28, 2020. The merchandise was excluded from the physical inventory count because they had not been delivered.

f. Merchandise with a cost of $300 is held in the receiving department for return. The merchandise was excluded from the physical inventory count.

Required

Considering items a through f, determine the adjusted inventory balance for Sara Ann Corp.

Adjusted inventory balance on December 31, 2020: $Answer

1. On January 1, 2017, a subsidiary sold equipment to its parent for $520,000. The subsidiary’s original cost was $200,000 and as of January 1, 2017, $20,000 in depreciation had been recorded on the subsidiary’s books. At the date of sale, the equipment had a 10-year remaining life, straight-line. It is now December 31, 2021 (5 years since the sale), and the parent still holds the equipment.

REQUIRED: Prepare the consolidation eliminating entries for 2021

2. Baracus, Inc. pays $95,000 in cash and stock to acquire 80% of the voting stock of Clover Company. The fair value of the noncontrolling interest is $21,250. The book value of the acquired company is $66,250, and no revaluations of acquired identifiable net assets are necessary.

REQUIRED:

How much is total goodwill?
What amount and percent of goodwill is allocated to the controlling interest?
What amount and percent of goodwill is allocated to the non-controlling interest?

Explain the difference between horizontal and vertical analysis. What does each analysis tell us about a company?