Thorp Inc. maintains a defined benefit pension plan for its employees. Pension plan balances as at January 1, 2020 include: Projected Benefit Obligation (PBO), January 1, 2020 $ 600,000 Plan assets at market-related value, January 1, 2020 $ 550,000 Prior service cost (PSC- OCI)1 $ 150,000 Average remaining service period 15 years Service cost $ 90,000 Expected returns on plan assets 8% Actual returns earned on plan assets $40,000 Actuarial interest rate 4% Contributions paid $ 150,000 Benefits to retirees in 2020 $ 100,000 Loss from change in actuarial assumption, December 31, 2020 $ 46,000 1 These prior service costs are from 2019 and already included in PBO on January 1,2020. Required: a. Determine the pension expenses recognized in 2020. b. Prepare the journal entries to reflect the accounting for the pension plan for 2020. c. Prepare the ending balances (31 December 2020) for plan assets, PBO, and calculate net pension liability. d. What will be the expected impact of the current pandemic (Covid-19) on PBO?

Presented here are summarized data from the balance sheets and income statements of Wiper Inc.:

1. If Wiper's stock had a price/earnings ratio of 12 at the end of 2020, what was the market price of the stock?
2. Calculate the cash dividend per share for 2020 and the dividend yield based on the market price calculated in part e.
3. Calculate the dividend payout ratio for 2020.
4. Assume that accounts receivable at December 31, 2020, totaled $325 million. Calculate the number of days' sales in receivables at that date.
5. Calculate Wiper's debt ratio and debt/equity ratio at December 31, 2020 and 2019.
6. Calculate the times interest earned ratio for 2020 and 2019.

Presented here are summarized data from the balance sheets and income statements of Wiper Inc.:

1. If Wiper's stock had a price/earnings ratio of 12 at the end of 2020, what was the market price of the stock?
2. Calculate the cash dividend per share for 2020 and the dividend yield based on the market price calculated in part 1
3. Calculate the dividend payout ratio for 2020.
4. Assume that accounts receivable at December 31, 2020, totaled $316 million. Calculate the number of days' sales in receivables at that date.
5. Calculate Wiper's debt ratio and debt/equity ratio at December 31, 2020 and 2019.
6. Calculate the times interest earned ratio for 2020 and 2019.

Change in Reporting for Equity Investment

Stream Company buys 10 percent of Topsia Company’s stock for $2 million in cash on January 1, 2020, and reports the investment as having no significant influence. Fair value of the investment on December 31, 2020 is $2.1 million. On January 1, 2021, Stream acquires another 30 percent of Topsia’s stock for $8 million in cash, and changes to the equity method of reporting for this investment. Fair value of the 40 percent interest on December 31, 2021, is $12 million. Topsia reported the following amounts for the years 2020 and 2021:

Topsia reported no other comprehensive income, and any basis difference is attributed to goodwill. Stream and Topsia have no intercompany transactions.

Required

Calculate the balances appearing in the following accounts of Stream Company for 2020 and 2021:

a. Investment in Topsia, reported on Stream’s December 31, 2020 and December 31, 2021 balance sheets.

b. Dividend income reported on Stream’s income statements, 2020 and 2021.

c. Unrealized gain on investment in Topsia, reported on Stream’s 2020 and 2021 income statements.

d. Equity in net income of Topsia, reported on Stream’s 2020 and 2021 income statements.

Problem 8-80A
Ratio Analysis

Consider the following information taken from GER's financial statements:

Also, GER's operating cash flows were $12,829 and $14,874 in 2020 and 2019, respectively.

Required:

Round your answers to two decimal places.

1. Calculate the current ratios for 2020 and 2019.

2. Calculate the quick ratios for 2020 and 2019.

3. Calculate the cash ratios for 2020 and 2019.

4. Calculate the operating cash flow ratios for 2020 and 2019.

5. Conceptual Connection: What are some reasons why GER's liquidity may be considered to be improving and some reasons why it may be worsening?

GER’s liquidity appears to hold constant when one looks only at the quick ratio . However, because the receivables and inventories  may not be easily converted to cash, the liquidity of GER may be worsening.

Rolfe Company (a U.S.-based company) has a subsidiary in Nigeria where the local currency unit is the naira (NGN). On December 31, 2019, the subsidiary had the following balance sheet (amounts are in thousands [000s]):

The subsidiary acquired the inventory on August 1, 2019, and the land and building in 2013. It issued the common stock in 2011. During 2020, the following transactions took place:

The U.S dollar ($) exchange rates for 1 NGN are as follows:

1. Assuming the NGN is the subsidiary's functional currency, what is the translation adjustment determined solely for 2020?

2. Assuming the U.S.$ is the subsidiary's functional currency, what is the remeasurement gain or loss determined solely for 2020?

(Input all amounts as positive. Enter amounts in whole dollars.)

a .Positive translation adjustment ？

b. Remeasurement gain ？

Thank you

Before doing this please tell me what is lift factor and tell me how did we calculate seasonal index for carlson's sales of january as 0.957

The Carlson Department store suffered heavy damage when a hurricane struck on August 31. The store was closed for four months (September through December), and Carlson is now involved in a dispute with its insurance company about the amount of lost sales during the time the store was closed. Two key issues must be resolved (1) The Amount of sales Carlson would have made if the hurricane had not struck and (2) whether Carlson is entitled to any compensation for excess sales due to increased business activity after the storm. More than $8 Billion in federal disaster relief and insurance money came into the country, resulting in increased sales at department stores and numerous other businesses.

Table 6.18 gives Carlson's sales data for the the 48 month preceding the storm. Table 6.19 reports total sales for the 48 months preceding the storms for all department stores in the country , as well as total sales in the country for the four months the Carlson's Department Store was closed.

Table 6.18 Sales for Carlson Department store ($Million)

Table 6.19 Department Store Sales for the County ($Million)

Carlson's Manager asked you to analyze these data and Estimates of the lost sales at the Carlson Department Store for the month of September through December. They also asked you to determine whether a case can be made, Carlson is entitled to compensation for excess sales it would have earned in addition to ordinary sales

Managerial Report
Prepare a report for the managers of the Carlson Department Store that summarizes your findings, forecast and recommendations. Include the following:
1. An estimates of sales for Carlson Department Store had there been no hurricanes
2. An estimates of country wide department stores sales had there been no hurricanes
3. An estimates of lost sales for the Carlson Department Store for September through December.

In addition use the countrywide actual department stores sales for September through December and estimates in part (2) to make a case for or against excess storm-related sales

Consider 3 individuals with incomes equal to 10,000, 20,000 and 30,000 euros.

a) They face an income tax rate equal to 10%. Compute the Gini coefficients for the income distribution before taxes and the income distribution after taxes.

b) Assume that a deduction from the tax base (taxable income) of 4,000 euros is introduced. Compute after tax incomes and the corresponding Gini coefficient.

c) Suppose that instead a proportional tax rate we have an income tax with increasing marginal rate such that:

Base Tax Rate

[0 , 10,000) 10%

[10,000 , 20,000)   20%

> 20,000 30%

Find the after tax Gini coefficient.

1. Special Relativity: Consider a firecracker that after being triggered explodes after 1 second. An observer A is standing some distance away from observer B who is traveling with constant velocity towards A with the firecracker. The velocity of B and distance between A and B is such that B will reach A in 1 sec as measured by A. At this instant B triggers the firecracker they are holding. Which of following options is correct?

   1. The firecracker explodes exactly when B reaches A

   2. The firecracker explodes before reaching A

   3. The firecracker explodes after crossing A

   4. All the above outcomes are possible

   Explain your answer. Include diagram in your explanation. Hint : this is not about time dilation.

Daniel with mass 65.0 kg and Rebecca with mass 45.0 kg are skating. While Daniel stands at rest, He is struck by Rebecca. She is moving at 13.0 m/s before she collides with him. Rebecca has a velocity of magnitude 6.00 m/s at an angle of 55.1 ∘ from her initial direction after the collision. Both skaters move on the frictionless and horizontal surface .
a)Find the magnitude of Daniel's velocity after the collision?
b)Find the direction of Daniel's velocity after the collision? ∘ from the Rebecca's original direction
c)Find the change in total kinetic energy of the two skaters as a result of the collision?