Early in its fiscal year ending December 31, 2021, San Antonio Outfitters finalized plans to expand operations. The first stage was completed on March 28 with the purchase of a tract of land on the outskirts of the city. The land and existing building were purchased by paying $300,000 immediately and signing a noninterest-bearing note requiring the company to pay $700,000 on March 28, 2023. An interest rate of 8% properly reflects the time value of money for this type of loan agreement. Title search, insurance, and other closing costs totaling $30,000 were paid at closing.

At the end of April, the old building was demolished at a cost of $80,000, and an additional $60,000 was paid to clear and grade the land. Construction of a new building began on May 1 and was completed on October 29. Construction expenditures were as follows: (FV of $1, PV of $1, FVA of $1, PVA of $1, FVAD of $1 and PVAD of $1) (Use appropriate factor(s) from the tables provided.)

San Antonio borrowed $4,800,000 at 8% on May 1 to help finance construction. This loan, plus interest, will be paid in 2022. The company also had a $6,250,000, 8% long-term note payable outstanding throughout 2021.

In November, the company purchased 10 identical pieces of equipment and office furniture and fixtures for a lump-sum price of $700,000. The fair values of the equipment and the furniture and fixtures were $520,000 and $280,000, respectively. In December, San Antonio paid a contractor $335,000 for the construction of parking lots and for landscaping.

Required:
1. Determine the initial values of the various assets that San Antonio acquired or constructed during 2021. The company uses the specific interest method to determine the amount of interest capitalized on the building construction. (Hint: Expenditures on March 28 and April 30 to acquire land on which to construct the building are included as part of accumulated expenditures for determining the amount of interest capitalized on the building. This means the interest capitalization period begins on March 28.)
2. How much interest expense will San Antonio report in its 2021 income statement?

Early in its fiscal year ending December 31, 2021, San Antonio Outfitters finalized plans to expand operations. The first stage was completed on March 28 with the purchase of a tract of land on the outskirts of the city. The land and existing building were purchased by paying $200,000 immediately and signing a noninterest-bearing note requiring the company to pay $600,000 on March 28, 2023. An interest rate of 8% properly reflects the time value of money for this type of loan agreement. Title search, insurance, and other closing costs totaling $20,000 were paid at closing.

At the end of April, the old building was demolished at a cost of $70,000, and an additional $50,000 was paid to clear and grade the land. Construction of a new building began on May 1 and was completed on October 29. Construction expenditures were as follows: (FV of $1, PV of $1, FVA of $1, PVA of $1, FVAD of $1 and PVAD of $1) (Use appropriate factor(s) from the tables provided.)

San Antonio borrowed $3,000,000 at 8% on May 1 to help finance construction. This loan, plus interest, will be paid in 2022. The company also had a $5,250,000, 8% long-term note payable outstanding throughout 2021.

In November, the company purchased 10 identical pieces of equipment and office furniture and fixtures for a lump-sum price of $600,000. The fair values of the equipment and the furniture and fixtures were $455,000 and $245,000, respectively. In December, San Antonio paid a contractor $285,000 for the construction of parking lots and for landscaping.

Required:

1. Determine the initial values of the various assets that San Antonio acquired or constructed during 2021. The company uses the specific interest method to determine the amount of interest capitalized on the building construction. (Hint: Expenditures on March 28 and April 30 to acquire land on which to construct the building are included as part of accumulated expenditures for determining the amount of interest capitalized on the building. This means the interest capitalization period begins on March 28.)
2. How much interest expense will San Antonio report in its 2021 income statement?

The following extract is taken from an announcement released to the Australian Securities Exchange by the Australian Agricultural Company:

AACo announced today its trading results for the three months to 30 September 2003 (Q1 FY04) in which unaudited revenue was $22.1 million from cattle sales equivalent to 12.6 million kilograms. Compared to the same period in 2002, revenue decreased 14%, while sales volume increased 21%. Earnings before interest and tax (EBIT) for the three months to 30 September 2003 was ($3.2) million and compares with $7.7 million in the previous corresponding period.
The decrease in earnings was primarily due to there being no mark-to- market cattle value appreciation during the quarter compared to the previous corresponding period which saw a mark to market increase to trading cattle of 7.5%.
The lack of early spring rain saw many Queensland producers increase supplies of cattle to market during the quarter with the resulting downward pressure on prices as at 30 September 2003 impacting on the valuation of AACo cattle at that date. This trend has reversed in October, with prices rising in some categories in the order of 10%. Chief Executive Officer of AACO, Mr Peter Holmes à Court said 'We sold a high volume of cattle during the quarter, although the impact of last year's drought meant that they were generally at lighter weights. Prices, however, have subsequently risen due to the short supply of quality, finished cattle.'

Source: ASX Press Release, 30 October 2003, AACo First Quarter FY04 Briefing.
Required
(a) Explain what is meant by 'mark-to-market cattle value appreciation' in the context of AASB 141 'Agriculture'.

(b) Explain why no appreciation in the market value of cattle for the quarter ending 30 September 2003 resulted in a loss of $3.2 million compared to a profit of $7.7 million in the previous corresponding period.

(c) The volatile market conditions which had an impact on the Australian Agricultural Company serve to illustrate the principal difficulty of using fair value less costs to sell for biological assets.' Critically evaluate this comment.

Early in its fiscal year ending December 31, 2021, San Antonio Outfitters finalized plans to expand operations. The first stage was completed on March 28 with the purchase of a tract of land on the outskirts of the city. The land and existing building were purchased by paying $380,000 immediately and signing a noninterest-bearing note requiring the company to pay $780,000 on March 28, 2023. An interest rate of 8% properly reflects the time value of money for this type of loan agreement. Title search, insurance, and other closing costs totaling $38,000 were paid at closing.

At the end of April, the old building was demolished at a cost of $88,000, and an additional $68,000 was paid to clear and grade the land. Construction of a new building began on May 1 and was completed on October 29. Construction expenditures were as follows: (FV of $1, PV of $1, FVA of $1, PVA of $1, FVAD of $1 and PVAD of $1) (Use appropriate factor(s) from the tables provided.)

San Antonio borrowed $6,300,000 at 8% on May 1 to help finance construction. This loan, plus interest, will be paid in 2022. The company also had a $7,050,000, 8% long-term note payable outstanding throughout 2021.

In November, the company purchased 10 identical pieces of equipment and office furniture and fixtures for a lump-sum price of $780,000. The fair values of the equipment and the furniture and fixtures were $572,000 and $308,000, respectively. In December, San Antonio paid a contractor $375,000 for the construction of parking lots and for landscaping.

Required:
1. Determine the initial values of the various assets that San Antonio acquired or constructed during 2021. The company uses the specific interest method to determine the amount of interest capitalized on the building construction. (Hint: Expenditures on March 28 and April 30 to acquire land on which to construct the building are included as part of accumulated expenditures for determining the amount of interest capitalized on the building. This means the interest capitalization period begins on March 28.)
2. How much interest expense will San Antonio report in its 2021 income statement?

Early in its fiscal year ending December 31, 2021, San Antonio Outfitters finalized plans to expand operations. The first stage was completed on March 28 with the purchase of a tract of land on the outskirts of the city. The land and existing building were purchased by paying $320,000 immediately and signing a noninterest-bearing note requiring the company to pay $720,000 on March 28, 2023. An interest rate of 8% properly reflects the time value of money for this type of loan agreement. Title search, insurance, and other closing costs totaling $32,000 were paid at closing.

At the end of April, the old building was demolished at a cost of $82,000, and an additional $62,000 was paid to clear and grade the land. Construction of a new building began on May 1 and was completed on October 29. Construction expenditures were as follows: (FV of $1, PV of $1, FVA of $1, PVA of $1, FVAD of $1 and PVAD of $1) (Use appropriate factor(s) from the tables provided.)

San Antonio borrowed $5,100,000 at 8% on May 1 to help finance construction. This loan, plus interest, will be paid in 2022. The company also had a $6,450,000, 8% long-term note payable outstanding throughout 2021.

In November, the company purchased 10 identical pieces of equipment and office furniture and fixtures for a lump-sum price of $720,000. The fair values of the equipment and the furniture and fixtures were $615,000 and $205,000, respectively. In December, San Antonio paid a contractor $345,000 for the construction of parking lots and for landscaping.

Required:
1. Determine the initial values of the various assets that San Antonio acquired or constructed during 2021. The company uses the specific interest method to determine the amount of interest capitalized on the building construction. (Hint: Expenditures on March 28 and April 30 to acquire land on which to construct the building are included as part of accumulated expenditures for determining the amount of interest capitalized on the building. This means the interest capitalization period begins on March 28.)
2. How much interest expense will San Antonio report in its 2021 income statement?

I need an introduction and conclusion for the following paragraph please. Intro should be between 10-15 sentences and conclusion should be between 5-10 sentences

One thing that sets London and Washington, D.C. apart is their history. These cities developed on very different time lines. London, for example, has a history that dates back over two thousand years. It was part of the Roman Empire and known by the similar name, Londinium. It was not only one of the northernmost points of the Roman Empire but also the epicenter of the British Empire where it held significant global influence from the early sixteenth century on through the early twentieth century. Washington, DC, on the other hand, has only formally existed since the late eighteenth century. Though Native Americans inhabited the land several thousand years earlier, and settlers inhabited the land as early as the sixteenth century, the city did not become the capital of the United States until the 1790s. From that point onward to today, however, Washington, DC, has increasingly maintained significant global influence.

Another difference between the two city concerns their cultural life and heritage. While Washington, DC, has the National Gallery of Art and several other Smithsonian galleries, London’s art scene and galleries have a definite edge in this category. From the Tate Modern to the British National Gallery, London’s art ranks among the world’s best. This difference and advantage has much to do with London and Britain’s historical depth compared to that of the United States. London has a much richer past than Washington, DC, and consequently has a lot more material to pull from when arranging its collections. Speaking of theaters, London wins this comparison, too, both in quantity and quality of theater choices. With regard to other cultural places like restaurants, pubs, and bars, they also have some differences, While London may be better known for its pubs and taste in beer, DC offers a different bar-going experience. With clubs and pubs that tend to stay open later than their British counterparts, the DC night life tend to be less reserved overall.

The two cities also differ in cultural diversity. Perhaps the most significant difference between the resident demographics is the racial makeup. Washington, DC, is a “minority majority” city, which means the majority of its citizens are races other than white. In 2009, according to the US Census, 55 percent of DC residents were classified as “Black or African American” and 35 percent of its residents were classified as “white.” London, by contrast, has very few minorities—in 2006, 70 percent of its population was “white,” while only 10 percent was “black.” However, things are changing rapidly for London. According to UCL, 1/3 of Londoners were born abroad, and 200 languages are spoken in the city.

Lala Corporation produces Greek yogurts that pass through three departments – Fermentation Department (Department I), Mixing Department (Department II), and Packaging Department (Department III). The production process in the Mixing Department requires the input of two main types of ingredients. One is the basic ingredients and the other one is the special ingredients. 100% of the basic ingredients are added at the beginning of the process. For the special ingredients, they are added gradually. 30% of these special ingredients are added at the beginning of the process, 50% are added midway through the process and the remainder of the special ingredients are added at the three-quarter way through the process. The following information was available concerning the operation of the Mixing Department for the month of October 2020. Beginning work-in process (WIP) (1 October 2020): 2,500 units were 40% completed with respect to conversion costs (CC). Costs pertaining to the beginning WIP as at 1 October 2020 were: Department I $10,000, Basic Ingredients $30,000, Special Ingredients $15,000 and CC $10,000. Units started in the month were 15,000 units. Costs added to production during the month of October 2020 were: Department I $60,000, Basic Ingredients $188,750, Special Ingredients $203,400, and CC $154,500. Ending WIP as at 31 October 2020 were 3,500 units and 70% completed with respect to CC. Required:

a) Use of the weighted average (WA) process costing method, calculate 1) the units completed in October 2020. 2) the equivalent units for the Special Ingredients. 3) the total costs per equivalent unit. 4) the total costs of completed products transferred to the Packaging Department.

b) Use the first-in-first-out (FIFO) process costing method, calculate 5) the units completed in October 2020. 6) the equivalent units for the Special Ingredients. 7) the total costs per equivalent unit. viii) the total costs of completed products transferred to the Packaging Department.

The following information was available to reconcile Montrose Company’s book balance of Cash with its bank statement balance as of October 31, 2017:

Required:
1. Prepare a bank reconciliation for the company as of October 31, 2017.     



2. Prepare the General Journal entries necessary to bring the company’s book balance of Cash into agreement with the reconciled balance. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)

Can you please analyze this article and express your opinion

Stop Saying This Is a Nation of Immigrants!

by Roxanne Dunbar-Ortiz

A nation of immigrants: This is a convenient myth developed as a response to the 1960s movements against colonialism, neocolonialism, and white supremacy. The ruling class and its brain trust offered multiculturalism, diversity, and affirmative action in response to demands for decolonization, justice, reparations, social equality, an end of imperialism, and the rewriting of history — not to be “inclusive” — but to be accurate. What emerged to replace the liberal melting pot idea and the nationalist triumphal interpretation of the “greatest country on earth and in history,” was the “nation of immigrants” story.

By the 1980s, the “waves of immigrants” story even included the indigenous peoples who were so brutally displaced and murdered by settlers and armies, accepting the flawed “Bering Straits” theory of indigenous immigration some 12,000 years ago. Even at that time, the date was known to be wrong, there was evidence of indigenous presence in the Americas as far back as 50,000 years ago, and probably much longer, and entrance by any means across the Pacific and the Atlantic — perhaps, as Vine Deloria Jr. put it, footsteps by indigenous Americans to other continents will one day be acknowledged. But, the new official history texts claimed, the indigenous peoples were the “first immigrants.” They were followed, it was said, by immigrants from England and Africans, then by Irish, and then by Chinese, Eastern and Southern Europeans, Russians, Japanese, and Mexicans. There were some objections from African Americans to referring to enslaved Africans hauled across the ocean in chains as “immigrants,” but that has not deterred the “nation of immigrants” chorus.

Misrepresenting the process of European colonization of North America, making everyone an immigrant, serves to preserve the “official story” of a mostly benign and the benevolent USA, and to mask the fact that the pre-US independence settlers, were, well, settlers, colonial setters, just as they were in Africa and India, or the Spanish in Central and South America. The United States was founded as a settler state, and an imperialistic one from its inception (“manifest destiny,” of course). The settlers were English, Welsh, Scots, Scots-Irish, and German, not including the huge number of Africans who were not settlers. Another group of Europeans who arrived in the colonies also were not settlers or immigrants: the poor, indentured, convicted, criminalized, kidnapped from the working class (vagabonds and unemployed artificers), as Peter Linebaugh puts it, many of who opted to join indigenous communities.

Only beginning in the 1840s, with the influx of millions of Irish Catholics pushed out of Ireland by British policies, did what might be called “immigration” begin. The Irish were discriminated against cheap labor, not settlers. They were followed by the influx of other workers from Scandinavia, Eastern, and Southern Europe, always more Irish, plus Chinese and Japanese, although Asian immigration was soon barred.   Immigration laws were not even enacted until 1875 when the US Supreme Court declared the regulation of immigration a federal responsibility. The Immigration Service was established in 1891.

Buried beneath the tons of propaganda — from the landing of the English “pilgrims” (fanatic Protestant Christian evangelicals) to James Fennimore Cooper’s phenomenally popular “Last of the Mohicans” claiming “natural rights” to not only the indigenous peoples territories but also to the territories claimed by other European powers — is the fact that the founding of the United States was a division of the Anglo empire, with the US becoming a parallel empire to Great Britain. From day one, as was specified in the Northwest Ordinance that preceded the US Constitution, the new republic for empire (as Jefferson called the US) envisioned the future shape of what is now the lower 48 states of the US. They drew up rough maps, specifying the first territory to conquer as the “Northwest Territory,” ergo the title of the ordinance. That territory was the Ohio Valley and the Great Lakes region, which was filled with indigenous farming communities.

Once the conquest of the “Northwest Territory” was accomplished through a combination of genocidal military campaigns and bringing in European settlers from the east, and the indigenous peoples moved south and north for protection into other indigenous territories, the republic for empire annexed Spanish Florida where runaway enslaved Africans and remnants of the indigenous communities that had escaped the Ohio carnage fought back during three major wars (Seminole wars) over two decades. In 1828, President Andrew Jackson (who had been a general leading the Seminole wars) pushed through the Indian Removal Act to force all the agricultural indigenous nations of the Southeast, from Georgia to the Mississippi River, to transfer to Oklahoma territory that had been gained through the “Louisiana Purchase” from France. Anglo settlers with enslaved Africans seized the indigenous agricultural lands for plantation agriculture in the Southern region. Many moved on into the Mexican province of Texas — then came the US military invasion of Mexico in 1846, seizing Mexico City and forcing Mexico to give up its northern half through the 1848 Treaty of Guadalupe Hidalgo. California, Arizona, New Mexico, Colorado, Utah, Texas were then opened to “legal” Anglo settlement, also legalizing those who had already settled illegally, and in Texas by force. The indigenous and the poor Mexican communities in the seized territory, such as the Apache, Navajo, and Comanche, resisted colonization, as they had resisted the Spanish empire, often by force of arms, for the next 40 years. The small class of Hispanic elites welcomed and collaborated with US occupation.

Are “immigrants” the appropriate designation for the indigenous peoples of North America? No.

Are “immigrants” the appropriate designation for enslaved Africans? No.

Are “immigrants” the appropriate designation for the original European settlers? No.

Are “immigrants” the appropriate designation for Mexicans who migrate for work to the United States? No.

They are migrant workers crossing a border created by US military force. Many crossing that borders now are also from Central America, from the small countries that were ravaged by US military intervention in the 1980s and who also have the right to make demands on the United States.

So, let’s stop saying “this is a nation of immigrants.”