|
All costs in $M |
Bridge M |
Bridge L |
|
Land acquisition |
$220 |
$195 |
|
Annual O & M |
2 |
3 |
|
Annual increase |
0.04 |
0.03 |
|
Major Maintenance (Year 25) |
185 |
210 |
|
Salvage Cost |
30 |
27 |
|
Initial Construction |
$585 |
$470 |
In: Economics
An American Company borrowed 1million Canadian dollars to finance the construction of an office building when the Canadian dollar was worth $1 US. At 10% interest, the American Company expected to pay back 1.1 million Canadian dollars which would cost $1.1 million US dollars. However, based on changes in the value of the Canadian dollar, the American Company must pay $1,030,000 million US dollars to satisfy this debt. How will this $70,000 US dollar difference be shown on the American Company’s financial statements under GAAP? How would this have been shown if the American Company used IFRS? Which gives us more relevant information? Explain
In: Accounting
|
ACE CONSTRUCTION CO. |
|||||
|
No. |
Account Title |
Debit |
Credit |
||
|---|---|---|---|---|---|
|
101 |
Cash |
19,000 |
|||
|
126 |
Supplies |
7,000 |
|||
|
128 |
Prepaid insurance |
6,000 |
|||
|
167 |
Equipment |
139,290 |
|||
|
168 |
accumulated Depreciation – Equipment |
$ 22,000 |
|||
|
201 |
Accounts payable |
6,200 |
|||
|
251 |
Long-term notes payable |
21,000 |
|||
|
301 |
V. Ace, equity |
79,900 |
|||
|
302 |
V. Ace, withdrawals |
26,500 |
|||
|
401 |
Construction fees earned |
144,000 |
|||
|
623 |
Wages expense |
49,000 |
|||
|
633 |
Interest expense |
2,310 |
|||
|
640 |
Rent expense |
13,000 |
|||
|
683 |
Property taxes expense |
4,100 |
|||
|
684 |
Repairs expense |
2,600 |
|||
|
690 |
Utilities expense |
4,300 |
|||
|
Totals |
273,100 |
273,100 |
|||
Instructions:
a) Journalize the following adjusting entries as of fiscal
year-end April 30, 2015.
b) Post the adjusting entries to an unadjusted trial balance and
prepare the adjusted trial balance.
Adjustments:
The supplies available at the end of fiscal year 2013 had a cost of $2,520.
The cost of expired insurance for the fiscal year is $3,780.
Annual depreciation on equipment is $8,700.
The June utilities expense of $520 is not included in the unadjusted trial balance, because the bill arrived after the trial balance was prepared. The $520 amount owed needs to be recorded.
The company’s employees have earned $1,500 of accrued wages at fiscal year-end.
The rent expense incurred and not yet paid or recorded at fiscal year-end is $300.
Additional property taxes of $800 have been assessed for this fiscal year, but have not been paid or recorded in the accounts.
The $210 accrued interest for June has not yet been paid or recorded.
In: Accounting
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1b The annual Waikiki Roughwater Swim contest is held over a 2.4 mile course and ends near the Hilton Rainbow Tower. The 2008 winner was Trent Grimsey in 47 minutes, 59 seconds. Before the race, a random sample of the water current velocity (in knots) along the race course is obtained, and the resulting information is used to determine whether the race should be canceled. A mean current velocity, µ, of more than 0.65 knots is considered unsafe. The hypotheses are H0: µ = 0.65 H1 : µ > 0.65. If H0 is rejected, the race will be canceled.
In: Statistics and Probability
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In: Accounting
Apply the Lagrangian formalism to obtain y(t) for the case of an object falling near the surface of the earth under the influence of gravity alone.
Take the initial velocity to be downward with a speed of v0 and take the initial position to be y0. Let downward be the positive y-direction.
In: Physics
Brush your hair with a plastic comb. Bring the comb close to a small piece of paper. Move a fridge magnet near the comb and then the paper. Do these objects exert forces on one another? Write a one page report describing and explaining your observations.
In: Physics
In: Chemistry
- Choose one of the technologies in healthcare that you think will have the most impact in the near future and how you facilitate its adoption in the appropriate healthcare facility.
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In: Nursing
In: Physics