On December 31, 2020, Ed Abbey Co. performed environmental consulting services for Hayduke Co. Hayduke was short of cash, and Abbey Co. agreed to accept a $200,000 zero-interest-bearing note due December 31, 2022, as payment in full. Hayduke is somewhat of a credit risk and typically borrows funds at a rate of 10%. Abbey is much more creditworthy and has various lines of credit at 6%.

a. Prepare the journal entry to record the transaction of December 31, 2020, for the Ed Abbey Co.
b. Assuming Ed Abbey Co.’s fiscal year-end is December 31, prepare the journal entry for December 31, 2021.
c. Assuming Ed Abbey Co.’s fiscal year-end is December 31, prepare the journal entry for December 31, 2022.
d. Complete the bank reconciliation

3) Magic Co. holds 100% of the outstanding common stock of Jonson Co. and would like to prepare year-end (December 31, Year 2) consolidated financial statements. The separate financial statements of Magic Co. are prepared for fiscal year ending December 31, Year 2. Jonson Co. reports its separate financial statements for the fiscal year ending June 30, Year 1.

Research and cite a specific paragraph in the Accounting Standard Codification that can help Magic Co. to determine whether it can use the financial statements of Jonson Co. (from June 30, Year 1) for preparing the consolidated financial statements for the fiscal year ending December, 31, Year 2, without any adjustments. Unless specifically requested, your response should not cite implementation guidance and illustrations.

FASB ASC                               -                   -                   -

On 1 September 2019, Mike Co. signed a 12% six-month note receivable in settlement of accounts receivable of €320,000. The note and interest are all due at maturity.

1. Prepare the entry on 1 September 2019 made by Mike Co. to record the receipt of this note receivable. (5 points)
2. Prepare the 31 December 2018 (fiscal year-end), adjusting entry made by Mike Co. with regard to this note receivable. (5 points)
3. Prepare the entry made by Mike Co. on 1 March 2020 (maturity date of note), to record collection of note and interest. (5 points)
4. Assume that on 1 March 2020, the maker of the note defaults and Mike Co. does not collect the note and interest. Explain what Mike Co. would do in accounting records in this situation. (5 points)

According to one survey taken a few years ago, 32% of American households have attempted to reduce their long-distance phone bills by switching long-distance companies. Suppose that business researchers want to test to determine if this figure is still accurate today by taking a new survey of 80 American households who have tried to reduce their long-distance bills. Suppose further that of these 80 households, 26% say they have tried to reduce their bills by switching long-distance companies. Is this result enough evidence to state that a significantly different proportion of American households are trying to reduce long-distance bills by switching companies? Let α = .01. What is the value of the Test Statistic?

1. Explain how each of the following transactions generates a credit and a debit in the American balance of payments accounts and described (BRIEFLY) how each entry would be classified:
   1. An American buys a share of German stock, paying by writing a check on an account with a Swiss bank.
   2. The Korean government carries out an official foreign exchange intervention in which it uses dollars held in an American bank to buy Korean currency from its citizens
   3. A tourist from Detroit buys a meal at a restaurant in Lyons, France, paying with a traveler’s check
   4. A California winemaker contributes a case of cabernet sauvignon for a London based win tasting.
   5. A US owned factory in Britain uses local earnings to buy additional machinery

I appreciate your explanation. I found different answers on these questions and it can be confusing.

7. For a beneficiary to receive a qualified distribution from a Roth IRA, who must meet the five-year requirement?
A. The beneficiary, after taking distributions.
B. Both the owner and the beneficiary.
C. Either the owner or the beneficiary, before taking distributions.

8. Which statement about the American Opportunity Tax Credit and the lifetime learning credit is FALSE?
A. A portion of the American Opportunity Tax Credit is a refundable credit.
B. An eligible individual for the lifetime learning credit may be enrolled part-time.
C. Only four-year universities are eligible institutions for the American Opportunity Tax Credit and the lifetime learning credit.

Here is the probability model for the blood type of a randomly chosen person in the United States.

(a) What is the probability that a randomly chosen American has type AB blood? Please use 2 decimal places.


(b) Maria has type B blood. She can safely receive blood transfusions from people with blood types O and B. What is the probability that a randomly chosen American can donate blood to Maria? Please use 2 decimal places.


(c) What is the probability that a randomly chosen American does not have type O blood? Please use 2 decimal places.

The essay for this lesson is required to be 1,000-1,500-words and clearly demonstrate your understanding of the prompt. Essays should be 5 or more paragraphs with a clear introduction, thesis statement and conclusion, written in APA format.

Discuss some of the ways that Native Americans and African Americans have been depicted in Hollywood films throughout the history of cinema. How have Native American and African American filmmakers responded to these depictions and subverted them by reshaping visual narratives of cultural identity? Use specific filmic examples to support your analysis. Your answer should demonstrate a breadth of knowledge about Native and African American cinema as well as the dominant cinematic discourses on race and ethnicity that these self-representations challenge.

CF carrier frequency estimations in American Hispanic populations • Carrier screening kits for Cystic Fibrosis alleles have been updated to include more probes (CFTR 60 kit 2) • It is reported to have a detection rate of 83.7% in Hispanic American populations.

The same group have a CF incidence of 1 in 9,500. Given the above, determine:

1) CF carrier frequency in the Hispanic American population.

2) Estimate the probability of being a carrier if a CFTR 60 kit result is negative for a member of this population.

3) Estimate probability of a child with CF being born if one parent is a known CF carrier and the other is Hispanic and found to be negative when tested with the CFTR 60 kit.