Lexington Company engaged in the following transactions during Year 1, its first year in operation: (Assume all transactions are cash transactions)Acquired $6,000 cash from issuing common stock.Borrowed $4,400 from a bank.Earned $6,200 of revenues.Incurred $4,800 in expenses.Paid dividends of $800.
Lexington Company engaged in the following transactions during Year 2: (Assume all transactions are cash transactions)Acquired an additional $1,000 cash from the issue of common stock.Repaid $2,600 of its debt to the bank.Earned revenues, $9,000.Incurred expenses of $5,500.Paid dividends of $1,280.

25.1)      What was the net cash flow from financing activities reported on Lexington's statement of cash flows for Year 2?

A)    $1,000 outflow.  
   B)    $2,880 outflow.
   C)    $1,000 inflow.
   D)    $2,880 inflow.
  

25.2)      What is the amount of total assets that will be reported on Lexington's balance sheet at the end of Year 1?

   A)    $12,000  
   B)    $11,000
   C)    $1,600
   D)    $7,600
  

25.3)      What was the amount of retained earnings that will be reported on Lexington's balance sheet at the end of Year 1?

   A)    $6,200    
   B)    $1,400
   C)    $600
   D)    $5,400
  

25.4)      What was the amount of liabilities on Lexington's balance sheet at the end of Year 2?

   A)    $480.      
   B)    $1,800.
   C)    $1,000.
   D)    ($2,600).
  

Tanner-UNF Corporation acquired as a long-term investment $320 million of 4% bonds, dated July 1, on July 1, 2021. Company management has the positive intent and ability to hold the bonds until maturity, but when the bonds were acquired Tanner-UNF decided to elect the fair value option for accounting for its investment. The market interest rate (yield) was 6% for bonds of similar risk and maturity. Tanner-UNF paid $290 million for the bonds. The company will receive interest semiannually on June 30 and December 31. As a result of changing market conditions, the fair value of the bonds at December 31, 2021, was $300 million.

Required:
1. How would this investment be classified on Tanner-UNF's balance sheet?
2. to 4. Prepare the journal entry to record Tanner-UNF’s investment in the bonds on July 1, 2021, interest on December 31, 2021, at the effective (market) and fair value changes as of December 31, 2021.
5. At what amount will Tanner-UNF report its investment in the December 31, 2021, balance sheet?
6. Suppose Moody's bond rating agency downgraded the risk rating of the bonds motivating Tanner-UNF to sell the investment on January 2, 2022, for $280 million. Prepare the journal entries to record the sale.

Tanner-UNF Corporation acquired as a long-term investment $310 million of 6% bonds, dated July 1, on July 1, 2018. Company management has the positive intent and ability to hold the bonds until maturity, but when the bonds were acquired Tanner-UNF decided to elect the fair value option for accounting for its investment. The market interest rate (yield) was 9% for bonds of similar risk and maturity. Tanner-UNF paid $280 million for the bonds. The company will receive interest semiannually on June 30 and December 31. As a result of changing market conditions, the fair value of the bonds at December 31, 2018, was $290 million.

Required:
1. How would this investment be classified on Tanner-UNF's balance sheet?
2. to 4. Prepare the journal entry to record Tanner-UNF’s investment in the bonds on July 1, 2018, interest on December 31, 2018, at the effective rate and fair value changes as of December 31, 2018.
5. At what amount will Tanner-UNF report its investment in the December 31, 2018, balance sheet?
6. Suppose Moody's bond rating agency downgraded the risk rating of the bonds motivating Tanner-UNF to sell the investment on January 2, 2019, for $270 million. Prepare the journal entry to record the sale.

Tanner-UNF Corporation acquired as a long-term investment $300 million of 4% bonds, dated July 1, on July 1, 2021. Company management has the positive intent and ability to hold the bonds until maturity, but when the bonds were acquired Tanner-UNF decided to elect the fair value option for accounting for its investment. The market interest rate (yield) was 6% for bonds of similar risk and maturity. Tanner-UNF paid $270 million for the bonds. The company will receive interest semiannually on June 30 and December 31. As a result of changing market conditions, the fair value of the bonds at December 31, 2021, was $280 million.

Required:
1. How would this investment be classified on Tanner-UNF's balance sheet?
2. to 4. Prepare the journal entry to record Tanner-UNF’s investment in the bonds on July 1, 2021, interest on December 31, 2021, at the effective (market) and fair value changes as of December 31, 2021.
5. At what amount will Tanner-UNF report its investment in the December 31, 2021, balance sheet?
6. Suppose Moody's bond rating agency downgraded the risk rating of the bonds motivating Tanner-UNF to sell the investment on January 2, 2022, for $260 million. Prepare the journal entries to record the sale.

Tanner-UNF Corporation acquired as a long-term investment $200 million of 6% bonds, dated July 1, on July 1, 2018. Company management has the positive intent and ability to hold the bonds until maturity, but when the bonds were acquired Tanner-UNF decided to elect the fair value option for accounting for its investment. The market interest rate (yield) was 8% for bonds of similar risk and maturity. Tanner-UNF paid $170 million for the bonds. The company will receive interest semiannually on June 30 and December 31. As a result of changing market conditions, the fair value of the bonds at December 31, 2018, was $180 million.

Required:
1. How would this investment be classified on Tanner-UNF's balance sheet?
2. to 4. Prepare the journal entry to record Tanner-UNF’s investment in the bonds on July 1, 2018, interest on December 31, 2018, at the effective rate and fair value changes as of December 31, 2018.
5. At what amount will Tanner-UNF report its investment in the December 31, 2018, balance sheet?
6. Suppose Moody's bond rating agency downgraded the risk rating of the bonds motivating Tanner-UNF to sell the investment on January 2, 2019, for $150 million. Prepare the journal entry to record the sale.

Brief the following Cases:

Eisner v. Macomber 252 U.S. 189 (1920)

Cheek v. U.S. 498 U.S. 192 (1991)

At December 31, 2015, certain accounts included in the property, plant, and equipment section of Kevin Company’s balance sheet had the following balances:

Land          ........................................................................... $200,000

Buildings    ........................................................................... $900,000

Leasehold improvements..................................................... $600,000

Machinery and equipment.................................................. $700,000

During 2016, the following transactions occurred:

Land site number 621 was acquired for $1,000,000. Additionally, to acquire the land, Kevin paid a $60,000 commission to a real estate agent. Costs of $15,000 were incurred to clear the land. During the course of clearing the land, timber and gravel were recovered and sold for $5,000.

A second tract of land (site number 622) with a building was acquired for $300,000. The closing statement indicated that the land value was $200,000 and the building value was $100,000. Shortly after acquisition, the building was demolished at a cost of $30,000. A new building was constructed for $150,000 plus the following costs:

Excavation fees...................................................................... $11,000

Architectural design fees......................................................... $8,000

Building permit fee................................................................... $1,000

The building was completed and occupied on September 29, 2016.

A third tract of land (site number 623) was acquired for $600,000 and was put on the market for resale.

Extensive work was done to a building occupied by Kevin under a lease agreement that expires on December 31, 2025. The total cost of the work was $125,000, which consisted of the following:

Painting of ceilings............................................................................. $10,000 (estimated useful life is 1 year)

Electrical work.................................................................................... $35,000 (estimated useful life is 10 years)

Construction of extension to current working area       ..................... $80,000 (estimated useful life is 30 years)                                                                                     $125,000

The lessor, Steinbeck Company, paid one-half of the costs incurred in connection with the extension to the current working area.

During December 2016, costs of $65,000 were incurred to improve leased office space. The related lease will terminate on December 31, 2018, and is not expected to be renewed.

A group of new machines was purchased under a royalty agreement that provides for payment of royalties based on units of production for the machines. The invoice price of the machines was $75,000, freight costs were $2,000, unloading charges were $1,500, and royalty payments for 2016 were $13,000.

Required:

Prepare a detailed analysis of the changes in the balance sheet accounts – Land, Buildings, Leasehold Improvements, and Machinery and Equipment – for 2016. Disregard the related accumulated depreciation accounts.

Please help. Thank you. I included the templates.

1) Explain what the World Bank and the IMF are and the goals of both.

2) What are a fixed exchange rate and a floating exchange rate?

3) If the U.S. Federal Reserve Bank increases the money supply, what happens to the value of the U.S. dollar and the exchange rate?

4) If the U.S. government increases the deficit and Federal Debt, what happens to the value of the U.S. dollar?

5) When did the U.S. go off of the Gold Standard?

Is the U.S. in a stronger or weaker economic and political position in the world because of globalization, or some of both? Why? What are the specific benefits to the U.S. from globalization? In what ways has globalization hurt the U.S.? How competitive do you think the U.S. will be relative to other countries over the next several decades? What will likely happen to absolute (rather than relative) standards of living in the U.S. in the years to come? Why?

During 2020, the following transactions were recorded by the Port Hudson Community Hospital, a private sector not-for-profit institution:

1. Gross charges for patient services, all charged to Patient Accounts Receivable, amounted to $1,950,000. Estimated contractual adjustments with third-party payors amounted to $550,000 and the Hospital estimated implicit price concessions would total $25,000.
2. Charity services, not included in transaction 1, would amount to $96,000, had billings been made at gross amounts.
3. Other revenues, received in cash, were parking lot, $35,000; cafeteria, $57,500; gift shop, $12,500.
4. Cash gifts restricted by the donor for programs amounted to $38,750 for the year. During the year, $77,000 was expended for technician salaries supporting the program identified by the donor (debit Operating Expense—Salaries and Benefits).
5. Mortgage bond payments amounted to $74,000 for principal and $46,000 for interest. Assume unrestricted resources are used.
6. During the year, the hospital received, in cash, unrestricted contributions of $63,000 and unrestricted income of $53,750 from endowment investments. (It is the hospital’s practice to treat unrestricted gifts as nonoperating income.)
7. New equipment, costing $182,000, was acquired, using donor-restricted cash that was on hand at the beginning of the year.
8. An old piece of lab equipment that originally cost $200,000 and that had an undepreciated cost of $40,000 was sold for $22,000 cash.
9. At the end of 2020, pledges (restricted as to purpose) were received in the amount of $195,000. These are intended to be received and expended in 2021.
10. Cash contributions were received from donors restricted for plant acquisition, $218,750.
11. Bills were received for the following items: Utilities $158,500 and Insurance $92,000. These will be paid in January of 2021.
12. Depreciation of plant and equipment amounted to $225,000.
13. Cash payments on accounts payable amounted to $208,500. Another $834,500 was expended on wages and benefits.
14. Cash collections of patient accounts receivable amounted to $1,210,000. These were in settlement of patient accounts totaling $1,662,000. Contractual adjustments associated with these totaled $430,000 and price concessions totaled $22,000.
15. Closing entries were prepared.

Required:
a. Record the transactions in the general journal of the Port Hudson Community Hospital.
b. Prepare a Statement of Operations for the Port Hudson Community Hospital for the year ended December 31, 2020.
c. Prepare a Statement of Changes in Net Assets for the Port Hudson Community Hospital for the year ended December 31, 2020. Assume beginning net assets are $7,225,000