Questions
1. Is social media a good thing or a bad thing? 2. Do you think that...

1. Is social media a good thing or a bad thing?

2. Do you think that social media, instead of connecting us together, cut us off from other people?

In: Operations Management

If the FLN is uniquely human, and was acquired through adaptive evolution, what “faculty” might it...

If the FLN is uniquely human, and was acquired through adaptive evolution, what “faculty” might it have evolved from? What aspect of the nonhuman prime mind is homologous to the FLN?

In: Biology

Explain how the Earth's atmosphere protects us from dangerous radiation.

Explain how the Earth's atmosphere protects us from dangerous radiation.

In: Physics

This is the question from US HISTORY 1 and it's for discussion! The Jacksonian Era and...

This is the question from US HISTORY 1 and it's for discussion!

The Jacksonian Era and the growing debate over the issue of slavery helped to create the U.S. system of two-party politics. The two-party American political system; has it hindered or enhanced the evolvement of the United States as a nation?

In: Finance

1.Describe the evidence of the unspent surplus in the US and Canada from 2009 to the...

1.Describe the evidence of the unspent surplus in the US and Canada from 2009 to the present and the massive corporate tax evasion of the neoliberal period according to the Tax Justice Network.

In: Economics

Please think of an event in the US (from the past) that caused either the AD...

Please think of an event in the US (from the past) that caused either the AD curve or the AS curve to shift. Briefly describe the event and draw an ADAS diagram to show what happened to GDP, Unemployment, and the Price level in the short run. Please use the sample graph below to see what your graph should look like - **be sure to show the correct curve shifting so your graph matches the event you described.

Don't forget to respond to a classmate.

In: Economics

Describe the trend of strikes among workers in the US from the 1930s to the present....

Describe the trend of strikes among workers in the US from the 1930s to the present.

I hope to get a detailed answer, thank you

In: Economics

a) The Evergreen Bank expects that the Peso (P) will depreciate against the     US $ from...

a) The Evergreen Bank expects that the Peso (P) will depreciate against the
    US $ from its spot rate of $0.43 to $0.42 in 90 days. The following interbank
    lending and borrowing rates exist:
                                Currency Lending Rate    Borrowing Rate
                                   US $ 7%                 7.2%
                                      P 22%              24%
The Evergreen Bank considers borrowing$430,000 or its equivalent Peso amount
in the interbank market and investing the proceeds for 90 days. Estimate the
speculative profits (or losses) that could be earned from this strategy.

(b)Describe how market forces will work to bring the speculative profits (or losses)
to long run equilibrium.

In: Finance

The Income Statement of Adom Enterprise for the year ended 31stMarch,2020as prepared by an Accounts Assistant...

The Income Statement of Adom Enterprise for the year ended 31stMarch,2020as prepared by an Accounts Assistant indicated a net profit of GHS 148,080. Though, the cash book on 31stMarch, 2020 showed a balance at bank to be GHS 13,460. Your attention is however drawn to the following:

i) Cheques from customers totalling GHS 14,940which were recorded in the cash book on March 25,2020 were not credited by the bank until April2, 2020. ii)Cheques issued on March 13, 2020totallingGHS 22,260in favour of suppliers were not paid by the bank until after the end of the year (that is after March31,2020

)iii) On 22 February2020, the bank paid an amount of GHS 10,800with respect to a standing order from Adom Enterprise for rent of business premises for the three months to April 30, 2020but unfortunately, no entry for this payment had been made in the cash book. Additionally, no provision of this outstanding rent had been made in the income statement for the period.

iv) On March31, a customer known as Mr. Kwarteng had paid GHS 7,020 into Adom Enterprise bank account through a standing order to his bankers in full settlement of a debit balance of GHS 7,200in Adom Enterprise sale ledger, but no entry had been made in the books.

v) On 30thMarch 2020, a cheque for GHS 1,440 was received from a customer in settlement of sales invoice for the same amount. The cheques were lodged into Adom Enterprise bank account. Both sale of goods and the cheque were entered in Adom Enterprise’s books. However, on 31stMarch 2020, the customer returned the goods and instructed her bankers not to pay the cheque (This instruction was carried out the same day) but no entries in respect of these latter developments have been made in Adom Enterprise’s books. The cost of these goods amounting to GHS 960 were not actually included in the closing inventories.

vi) Cheques received from two customers:Madam Adwoa Nyarkoa GHS2,150 and Papa Kwame Ayisi of GHS 1,520 were recorded at the wrong side of the cash book

.vii) A cheque for GHS 2,520 from an insurance company in settlement of claim for fire damage to inventory had been paid into the bank and credited by the bank on 21stMarch 2020, but an estimated amount of GHS 2,400had been entered in Adom Enterprise’s income statement.

viii) During a review of the financial records, it was discovered that the receipts side of the cash book was overstated by GHS 1,480. This has not been corrected.

Required:

a) Prepare a statement on March31,2020, clearly indicating the cash book balance.

)b) Prepare the bank reconciliation statement for Adom Enterprise

)c) Prepare a statement of corrected net profit of Adom Enterprise on 31stMarch, 2020

In: Accounting

Pepper Company acquired 80 percent of Salt Company's stock at underlying book value on January 1,...

Pepper Company acquired 80 percent of Salt Company's stock at underlying book value on January 1, 2018. Pepper Company acquired 80 percent of Salt Company's stock at underlying book value on January 1, 2018. At that date, Salt reported common stock outstanding of $1,050,000 and retained earnings of $840,000; the fair value of the noncontrolling interest was equal to 20 percent of the book value of Salt Company. Salt Co. sold equipment to Pepper Co. for a $720,000 on December 31, 2018. Salt Co. had originally purchased the equipment for $800,000 on January 1, 2015, with a useful life of 10 years and no salvage value. At the time of the purchase, Pepper Co. estimated that the equipment still had the same remaining useful life. Both companies use straight-line depreciation. Pepper sold land costing $132,000 to Salt Company on June 28, 2019, for $178,000.

Textbook: Custom edition of Advanced Financial Accounting,12th Edition, Christensen, Cottrell and Budd; Mc-Graw Hill.

Required:

a.) Prepare Pepper's journal entries related to intercompany sale of land and equipment for 2019.

In: Accounting