When Patey Pontoons issued a 6% bonds on January 1, 2018, with a face amount of 760,000, the market yield for bonds of similiar risk and maturity was 11%. The bonds mature December 31, 2021 (4 years). Interest is paid semiannually on June 30 and December 31.

1. Determine the price of the bonds at January 1, 2018

2. prepare the journal entry to record their issuance by Patey on January 1, 2018

3. Prepare an amortization schedule that determines interest at the effective rate each period

4. Prepare the journal entry to record interest on June 30, 2018

5. What is the amount related to the bonds that Patey will report in its balance sheet at December 31, 2018

6 What is the amount related to the bonds that Patey will report on its income statement for the year ended December 31, 2018

7 Prepare the appropriate journal entries at maturity on December 31, 2021

CircuitTown commenced a gift card program in January 2018 and sold $10,000 of gift cards in January, $15,000 in February, and $16,000 in March of 2018 before discontinuing further gift card sales. During 2018, gift card redemptions were $6,000 for the January gift cards sold, $4,500 for the February cards, and $4,000 for the March cards. CircuitTown considers gift cards to be “broken” (not redeemable) 10 months after sale.
  
Required:
1. How much revenue will CircuitTown recognize with respect to January gift card sales during 2018?
2. Prepare journal entries to record the sale of January gift cards, redemption of gift cards (ignore sales tax), and breakage (expiration) of gift cards.
3. How much revenue will CircuitTown recognize with respect to March gift card sales during 2018?
4. What liability for deferred revenue associated with gift card sales would CircuitTown show as of December 31, 2018?

Change in share price within 7 days of 7 May 2018 of Westpac: Track and report any change in Westpac company's share price within 7 days of 7 May 2018(provide evidence of this change tracking). Change in share price within 7 days of 7 February 2018 of Commonwealth: Track and report any change in Commonwealth share price within 7 days of 7 February 2018. What information in the half yearly financial report may have caused this change? If there is nothing in the report to warrant this share price change, then identify any market event that may be related to this share price change. Westpac's share price from 7 May to 10 May is 29.34 29.71 29.75 29.85. Commonwealth's share price from 7 February 2018 to 14 Feb 2018 is 76.99 76.51 76.25 76.25 76.25 75.88 76.30 73.98

he information that follows pertains to Esther Food Products:

At December 31, 2018, temporary differences were associated with the following future taxable (deductible) amounts:

No temporary differences existed at the beginning of 2018.

Pretax accounting income was $77,000 and taxable income was $20,000 for the year ended December 31, 2018.

The tax rate is 40%.

Required:
Complete the following table given below and prepare the appropriate journal entry to record income taxes for 2018.
1.

Complete the following table given below to record income taxes for 2018. (Negative amounts should be entered with a minus sign.)

2. Record 2018 income taxes.

On January 1, 2018, HGC Camera Store adopted the dollar-value LIFO retail inventory method. Inventory transactions at both cost and retail, and cost indexes for 2018 and 2019 are as follows:

Required:
Estimate the 2018 and 2019 ending inventory and cost of goods sold using the dollar-value LIFO retail inventory method. (Do not round other intermediate calculations. Round your cost-to-retail percentage calculations to 2 decimal places and final answers to the nearest whole dollar.)

On January 1, 2018, King Co. issued 10% bonds dated January 1, 2018, with a face amount of $19.2 million. The bonds mature in 2027 (10 years). For bonds of similar risk and maturity, the market yield is 12%. Interest is paid semiannually on June 30 and December 31. (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. Round your intermediate calculations to the nearest whole dollar.)

Required:

1. Determine the price of the bonds at January 1, 2018.

2. Prepare the journal entry to record the bond issuance by King Co. on January 1, 2018.

3. Prepare the journal entry to record interest on June 30, 2018, using the effective interest method.

4. Prepare the journal entry to record interest on December 31, 2018, using the effective interest method.

On January 1, 2018, Bishop Company issued 10% bonds dated January 1, 2018, with a face amount of $19.6 million. The bonds mature in 2027 (10 years). For bonds of similar risk and maturity, the market yield is 12%. Interest is paid semiannually on June 30 and December 31. (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. Round your intermediate calculations to the nearest whole dollar.) Required: 1. Determine the price of the bonds at January 1, 2018. 2. Prepare the journal entry to record the bond issuance by Bishop on January 1, 2018. 3. Prepare the journal entry to record interest on June 30, 2018, using the effective interest method. 4. Prepare the journal entry to record interest on December 31, 2018, using the effective interest method.

On September 6, 2017, East River Tug Co. purchased a new tugboat for $400,000. The estimated life of the boat was 20 years, with an estimated residual value of $40,000.

Compute the depreciation on this tugboat in 2017 and 2018 using the following methods. Apply the half-year convention. (If necessary, round to the nearest dollar.)

Show work:

18(b)

On March 1, 2018, five-year bonds are sold for $520,000 that have a face value of $500,000 and an interest rate of 10%. Interest is paid semi-annually on March 1 and September 1. Using the straight-line amortization method, prepare the borrower's journal entries on:

March 1, 2018; September 1, 2018; December 31, 2018; and March 1, 2019.

Show work:

On January 1, 2018, Bishop Company issued 8% bonds dated January 1, 2018, with a face amount of $20.1 million. The bonds mature in 2027 (10 years). For bonds of similar risk and maturity, the market yield is 10%. Interest is paid semiannually on June 30 and December 31. (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. Round your intermediate calculations to the nearest whole dollar.)

Required:
1. Determine the price of the bonds at January 1, 2018.
2. Prepare the journal entry to record the bond issuance by Bishop on January 1, 2018.
3. Prepare the journal entry to record interest on June 30, 2018, using the effective interest method.
4. Prepare the journal entry to record interest on December 31, 2018, using the effective interest method

Open Air_Traffic data. SETUP: It is believed that in July, as years go by we see higher and higher traffic. Given the data your job is to confirm or disprove this assertion.

4. What test/procedure did you perform? (4 points)

• a. Regression
• b. Two sided t-test
• c. One sided t-test
• d. Confidence Interval

5. What is the statistical interpretation? (4 points)

• a. Average of data is inconsistent with the claim
• b. P-value is too large to have a conclusive answer
• c. P-value is smaller than 5% thus we are confident to say that the slope is not zero.
• d. P-value is smaller than 5% thus we are confident that the averages are different.
• e. None of these

6. What is the conclusion? (4 points)

• a. We cannot claim that in July, as years go by we see higher and higher traffic.
• b. We can claim that in July, as years go by we see higher and higher traffic.
• c. None of these