Ben is age 64 in 2018. He began receiving Social Security payments of $18,000 at age 63 and continues receive that amount in 2018. His normal retirement age is 67. Ben has been working part time as a consultant and earned $20,000 in 2018. What, if any, reduction will be applied to his 2018 annual Social Security benefits?

On October 1, 2018, the Allegheny Corporation purchased machinery for $314,000. The estimated service life of the machinery is 10 years and the estimated residual value is $6,000. The machine is expected to produce 550,000 units during its life.

Required:
Calculate depreciation for 2018 and 2019 using each of the following methods. Partial-year depreciation is calculated based on the number of months the asset is in service.

1. Straight line.
2. Sum-of-the-years’-digits.
3. Double-declining balance.
4. One hundred fifty percent declining balance.
5. Units of production (units produced in 2018, 28,000; units produced in 2019, 43,000).

Calculate depreciation for 2018 and 2019 using one hundred fifty percent declining balance. Partial-year depreciation is calculated based on the number of months the asset is in service. (Do not round your intermediate calculations and round your final answers to nearest whole number.)

Calculate depreciation for 2018 and 2019 using Units of production (units produced in 2018, 28,000; units produced in 2019, 43,000). Partial-year depreciation is calculated based on the number of months the asset is in service. (Round "Depreciation per unit rate" answers to 2 decimal places.)

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The transactions listed below occurred in September 2018 for Aquamarines. Aquamarines uses the perpetual inventory system and estimates sales returns at the end of each month.

1) Using the General Journal tab, click Add Transaction to journalize each transaction. Click Post Transaction once you complete the entry, then repeat these steps for each transaction. 2) Click the Reports tab and review the results of recording these transactions on General Ledger. 3) Click Submit Work when complete.

09/03/2018 - Purchased merchandise inventory on account from Sharpner Wholesalers, $5,500. Terms 2/15, n/EOM, FOB shipping point.

09/04/2018-  Paid freight bill of $85 on September 3 purchase.

09/04/2018- Purchased merchandise inventory for cash of $1,600.

09/06/2018- Returned $1,300 of inventory from the September 3 purchase.

09/08/2018- Sold merchandise inventory to Herman Company, $5,700, on the account. Terms 2/15, n/35. Cost of goods, $2,565 (record two separate transactions).

09/09/2018- Purchased merchandise inventory on account from Tucker Wholesalers, $6,000. Terms 3/10, n/30, FOB destination.

09/10/2018-  Made payment to Sharpner Wholesalers for goods purchased on September 3, less the return and the discount.

09/12/2018- Received payment from Herman Company, less the discount.

09/13/2018- After negotiations, I received a $500 allowance from Tucker Wholesalers.

09/15/2018-  Sold merchandise inventory to Jerome Company, $2,800, on the account. Terms n/EOM. Cost of goods, $1,200 (record two separate transactions).

09/22/2018- Made payment less allowance to Tucker Wholesalers for goods purchased on September 9.

09/23/2018- Jerome Company returned $200 of the merchandise sold on September 15. Cost of goods, $80 (record two separate transactions).

09/25/2018- Sold merchandise inventory to Small for $1,800 on account that costs $738. Terms of 3/10, n/30 were offered, FOB shipping point. As a courtesy to Small, $40 of freight was added to the invoice for which cash was paid by Aquamarines (record two separate transactions).

09/29/2018- Received payment from Small, less discount.

09/30/2018- Received payment from Jerome Company, less the return.

Required information

[The following information applies to the questions displayed below.]

Actuary and trustee reports indicate the following changes in the PBO and plan assets of Lakeside Cable during 2018:

($ in millions)

3. Prepare a pension spreadsheet to assist you in determining end of 2018 balances in the PBO, plan assets, prior service cost—AOCI, the net loss—AOCI, and the pension liability. (Enter your answers in millions (i.e., 10,000,000 should be entered as 10). Enter credit amounts with a minus sign and debit amounts with a positive sign.)
  

Required information

[The following information applies to the questions displayed below.]

Actuary and trustee reports indicate the following changes in the PBO and plan assets of Lakeside Cable during 2018:

($ in millions)

3. Prepare a pension spreadsheet to assist you in determining end of 2018 balances in the PBO, plan assets, prior service cost—AOCI, the net loss—AOCI, and the pension liability. (Enter your answers in millions (i.e., 10,000,000 should be entered as 10). Enter credit amounts with a minus sign and debit amounts with a positive sign.)
  

On July 1, 2018, Kit Kat Company purchased $400,000 of Kool Company’s 10%, 10-year bonds for $354,118, reflecting a 12% market rate. Interest on the bonds is paid semi-annually on December 31 and June 30.

Requirement 1: On July 1, 2018, what entry did Kit Kat record for the purchase of the bonds? Below the entry, show the effect of the transaction on the 2018 financial statements.

ASSETS        =          LIABILITIES             +          SHAREHOLDERS’ EQUITY         2018 NET INCOME

Requirement 2: On December 31, 2018, what entry did Kit Kat record for the receipt of a semiannual interest payment from Kool Co? Below the entry, show the effect of the transaction on the 2018 financial statements. Kit Kat recorded interest using the effective interest method.

ASSETS        =          LIABILITIES             +          SHAREHOLDERS’ EQUITY         2018 NET INCOME

Requirement 3: At the end of 2018, the fair value of the Kool Co. bonds is $344,000. Show the amount reported for the investment on the 2018 balance sheet if the investment is classified as a:

                     Trading security                                                                          Held-to-maturity security                

Requirement 4: If Kit Kat holds the Kool Co. bonds for 10 years (to maturity), what is the total amount of interest revenue Kit Kat will recognize? SHOW COMPUTATIONS TO SUPPORT YOUR ANSWER.

Pension data for Barry Financial Services Inc. include the following:

Required:
1. Determine pension expense for 2018.
2. Prepare the journal entries to record pension expense, gains and losses (if any), funding, and retiree benefits for 2018.

Firstly, I wasn't sure exactly where to put this. It's a typesetting query but the scope is greater than TEX; however it's specific also to physics and even more specific to this site.

I've recently been reading a style guide for scientific publications (based on ISO 31-11), however there was no mention of quantum mechanical operators. I've seen them written a few ways and was wondering if there was a decision handed down from "up above" that any particular way is best.

H -- I see this most commonly but I suspect it's mostly due to (mild) laziness to not distinguish it from a variable.
H^ -- This is nicer to me because it makes the distinction between operator and variable. From what I understand of the ISO the italic means it's subject to change, which is true of the form of an operator, but not really its meaning? So I'm not totally sure if that's appropriate here.
H -- Roman lettering is used for functions e.g. sinx, erf(x), and even the differential operator (as in ddx) so this seems to me like the most suitable category to put operators in.
H^ -- Probably the least ambiguous but may also be redundant.

Which would be the best to use? Am I being too pedantic?

Consider the following abbreviated financial statements for Barrie Enterprises:

a. What is owner's equity for 2017 and 2018? (Omit $ sign in your response.)

b. What is the change in net working capital for 2018? (Omit $ sign in your response.)

Change in NWC           $

c1. In 2018, Barrie Enterprises purchased $2,022 in new fixed assets. How much in fixed assets did Barrie Enterprises sell? (Omit $ sign in your response.)

Fixed assets sold           $

c2. In 2018, Barrie Enterprises purchased $2,022 in new fixed assets. What is the cash flow from assets for the year? (The tax rate is 35%.) (Omit $ sign in your response.)

Cash flow from assets           $

d1. During 2018, Barrie Enterprises raised $402 in new long-term debt. How much long-term debt must Barrie Enterprises have paid off during the year? (Omit $ sign in your response.)

Debt retired           $

d2. During 2018, Barrie Enterprises raised $402 in new long-term debt. What is the cash flow to creditors? (Omit $ sign in your response.)

Cash flow to creditors           $

Record the following ADJUSTING Entries as of Dec 31st 2018 in General Journal Form: a. Office Supplies had a debit balance of $4,250 at the beginning of the year (Jan 1, 2018). During the year, additional supplies were purchased of $5,500. A count of supplies on hand at the end of the year (Dec 31, 2018) totaled $2,650 (Asset Value). Record the supplies use b. us up during 2018. (Hint: $4,250 + $5,500 - $2,650 = Supplies Used Up and needs to be recorded as Supplies Expense) c. Tara Company purchased an Auto on Jan 1, 2018 at a cost of $22,000. During the year, the Auto depreciated $4,000. d. Tara Company prepaid $18,000 for 6 months of her RENT on November 1, 2018. Record the adjustment for expired rent expense at Dec 31, 2018 (Hint: 2 months x $3,000 =Rent Expense needs to be recorded from Prepaid Rent). e. Tara Corp. has unpaid electricity costs of $650 at Dec 31, 2018. f. Tara Company collected revenue in advance of $12,000. At year end Tara determines that 80% was earned during 2018. (HINT: $12,000 x 80% is EARNED and no longer UNEARNED) g. Tara Company earned $4,350 from a customer on Dec 15, 2018 and has not yet sent out a bill or recorded the transaction yet. h. The Tara Company has WEEKLY payroll of $20,000. The year (12/31/18) ended on a Thursday and the employees are paid weekly every Friday. Record an adjustment for the payroll earned and unpaid in 2018.( HINT: $20,000 / 5 Days = $4,000 per day x 4 Days = $16,000 Unpaid Salary Expense NOT yet recorded)

Mijka Company was started on January 1, 2018. During 2018, the company experienced the following three accounting events: (1) earned cash revenues of $31,600, (2) paid cash expenses of $14,200, and (3) paid a $2,500 cash dividend to its stockholders. These were the only events that affected the company during 2018.

Required

Record the effects of each accounting event under the appropriate general ledger account headings.

Prepare an income statement, statement of changes in stockholders’ equity, and a balance sheet dated December 31, 2018, for Mijka Company.

Complete this question by entering your answers in the tabs below.

Req A

Prepare an income statement dated December 31, 2018, for Mijka Company.

Prepare a statement of changes in stockholders’ equity dated December 31, 2018, for Mijka Company.

Prepare a balance sheet dated December 31, 2018, for Mijka Company.

Typewritten answers, please, no handwritten answers. Thank you.