Questions
You are a summer intern for a large, reputable sports beverage company. The company is the...

You are a summer intern for a large, reputable sports beverage company. The company is the primary sponsor of an Olympic-distance triathlon in August in Iowa. The company will have a huge exhibit booth at the prerace meal the night before the race, and before, during, and after the event on race day. Your responsibility as an intern is to create a sports nutrition table display to be the centerpiece of the company’s main exhibit area. Describe in detail what the table set-up will look like, the information and activities you will have available for participants, and the main emphasis of your educational message for this athlete population.

In: Nursing

A 7400 kg rocket blasts off vertically from the launch pad with a constant upward acceleration...

A 7400 kg rocket blasts off vertically from the launch pad with a constant upward acceleration of 2.15 m/s2 and feels no appreciable air resistance. When it has reached a height of 550 m , its engines suddenly fail so that the only force acting on it is now gravity. a)What is the maximum height this rocket will reach above the launch pad? b)How much time after engine failure will elapse before the rocket comes crashing down to the launch pad? c)How fast will it be moving just before it crashes?

In: Physics

Consider the property tax model. Assume that housing supply curve is upward sloping. Draw the following...

Consider the property tax model. Assume that housing supply curve is upward sloping. Draw the following two diagrams.
1) a diagram showing equilibrium before the property tax on housing. Indicate equilibrium price, quantity, consumer surplus, and producer surplus on the diagram.
2) a diagram showing how equilibrium changes due to the property tax on housing. Specifically, mark the original equilibrium before tax, the new equilibrium after tax, tax burdens borne by developer and households, consumer surplus, producer surplus, government tax revenue, and deadweight loss due to the tax.

In: Economics

A 7800 kg rocket blasts off vertically from the launch pad with a constant upward acceleration...

A 7800 kg rocket blasts off vertically from the launch pad with a constant upward acceleration of 2.15 m/s2 and feels no appreciable air resistance. When it has reached a height of 575 m , its engines suddenly fail so that the only force acting on it is now gravity. A) What is the maximum height this rocket will reach above the launch pad? b)How much time after engine failure will elapse before the rocket comes crashing down to the launch pad? c)How fast will it be moving just before it crashes?

In: Physics

A 7450 kg rocket blasts off vertically from the launch pad with a constant upward acceleration...

A 7450 kg rocket blasts off vertically from the launch pad with a constant upward acceleration of 2.25 m/s2 and feels no appreciable air resistance. When it has reached a height of 500 m , its engines suddenly fail so that the only force acting on it is now gravity.

A. What is the maximum height this rocket will reach above the launch pad?

B. How much time after engine failure will elapse before the rocket comes crashing down to the launch pad?

C. How fast will it be moving just before it crashes?

In: Physics

Bonobo’s Balloons Inc. purchased the $60,000 par value bonds of Gnomes R Us on January 1,...

Bonobo’s Balloons Inc. purchased the $60,000 par value bonds of Gnomes R Us on January 1, 2020. The coupon rate is 8% and the bonds mature in 5 years. The market rate of interest is 12%. The bonds pay interest semi-annually every June 30 and December 31. The bonds were purchased for $51,167.90 and were classified as available-for-sale. Bonobo’s Balloons uses the effective-interest rate method to amortize bond discounts and premiums. At December 31, 2020, the market value of the bonds was $65,000. Bonobo’s Balloons sold the bonds on January 1, 2021, for $65,000.

Instructions

  1. Compute the carrying value of the investment at December 31, 2020.
  2. Compute the amount of interest revenue earned on this investment at June 30, 2020.
  3. Compute the amount of unrealized gain or loss recognized on December 31, 2020. In which financial statement should this amount be reported?
  4. Compute the amount of gain or loss recognized on the sale of the investment at January 1, 2021. In which financial statement should this amount be reported?
  5. If this investment was instead classified as held-to-maturity, how would this have affected the amount of unrealized gain or loss on December 31, 2020, and how would this have affected its reporting?

Computations:

Carrying value at December 31, 2020:

Interest revenue at June 30, 2020:

Unrealized gain/loss at December 31, 2020:

Gain or loss at January 1, 2021:

Requirement 5:

In: Accounting

Cheyenne Company purchases an oil tanker depot on January 1, 2020, at a cost of $648,500....

Cheyenne Company purchases an oil tanker depot on January 1, 2020, at a cost of $648,500. Cheyenne expects to operate the depot for 10 years, at which time it is legally required to dismantle the depot and remove the underground storage tanks. It is estimated that it will cost $79,920 to dismantle the depot and remove the tanks at the end of the depot’s useful life.

Prepare the journal entries to record the depot and the asset retirement obligation for the depot on January 1, 2020. Based on an effective-interest rate of 6%, the present value of the asset retirement obligation on January 1, 2020, is $44,627.

Date

Account Titles and Explanation

Debit

Credit

January 1, 2020

(To record the depot)

January 1, 2020

(To record the asset retirement obligation)

Prepare any journal entries required for the depot and the asset retirement obligation at December 31, 2020. Cheyenne uses straight-line depreciation; the estimated salvage value for the depot is zero.

Date

Account Titles and Explanation

Debit

Credit

December 31, 2020

(To record depreciation for the depot)

December 31, 2020

(To record depreciation on asset retirement obligation)

December 31, 2020

(To record interest on asset retirement obligation)



On December 31, 2029, Cheyenne pays a demolition firm to dismantle the depot and remove the tanks at a price of $84,200. Prepare the journal entry for the settlement of the asset retirement obligation.

Date

Account Titles and Explanation

Debit

Credit

December 31, 2029

In: Accounting

Balance Sheets (in millions of dollars) 2020 2019 Assets Cash and cash equivalents $600 $495 Accounts...

Balance Sheets
(in millions of dollars)

2020

2019

Assets

Cash and cash equivalents

$600

$495

Accounts receivable

$626

$525

Inventories

$285

$240

Total current assets

$1,511

$1,260

Net fixed assets

$1,590

$1,470

Total assets

$3,101

$2,730

Liabilities and equity

Accounts payable

$248

$195

Accruals

$195

$180

Notes payable

$189

$195

Total current liabilities

$632

$570

Long-term debt

$356

$300

Total liabilities

$987

$870

Common stock

$570

$570

Retained Earnings

$1,544

$1,290

Total common equity

$2,114

$1,860

Total liabilities and equity

$3,101

$2,730

Use the amounts you calculated for the 2020 income statement as needed.

Income Statements
(in millions of dollars)

2020

2019

Sales

$2,376

Costs+Exp excl. D&A

$1,782

EBITDA

$594

Depr. & amort.

$90

EBIT

$504

Interest expense

$60

EBT

$444

Taxes

$120

Net Income

$324

1.What is the Cash from Operating Activities in 2020 ($millions)?

2.What is the Cash from Investing Activities in 2020 ($millions)?

3.What are the Dividends in 2020 ($millions)?

4.What is the Net Change in Cash in 2020 ($millions)?

5.Calculate the Free Cash Flow. What is the Change in Net Operating Working Capital in 2020 ($millions)?

6.What is the Free Cash Flow in 2020 ($millions)?

In: Finance

Here are closing share prices (adjusted to include dividends) of 5 companies with past12 months of...

Here are closing share prices (adjusted to include dividends) of 5 companies with past12 months of data and adjusted closing prices for the ASX200 index. Calculate, present and discuss the main summary statistics of monthly returns for each REIT and the overall market index. How does the risk and return characteristics of each REIT compare to the overall market index? Show your analysis process.

Date AXJO GMG CHC DXS MGR SGP
2019/10/1 6663.400 14.093 10.923 11.419 3.108 4.611
2019/11/1 6846.000 14.514 10.449 11.667 3.263 4.762
2019/12/1 6684.100 13.094 10.710 11.161 3.079 4.357
2020/1/1 7017.200 14.744 12.623 12.414 3.355 4.773
2020/2/1 6441.200 14.833 12.250 11.867 3.000 4.569
2020/3/1 5076.800 11.981 6.733 8.871 2.062 2.454
2020/4/1 5522.400 13.021 7.509 8.939 2.210 2.794
2020/5/1 5755.700 15.219 9.511 8.783 2.319 3.463
2020/6/1 5897.900 14.704 9.511 8.978 2.141 3.211
2020/7/1 5927.800 16.930 10.520 8.510 2.090 3.190
2020/8/1 6060.500 18.310 12.510 8.830 2.110 3.960
2020/9/1 5815.900 17.940 12.430 8.890 2.180 3.780

In: Finance

Pharoah Company received the following selected information from its pension plan trustee concerning the operation of...

Pharoah Company received the following selected information from its pension plan trustee concerning the operation of the company’s defined benefit pension plan for the year ended December 31, 2020.

January 1, 2020

December 31, 2020

Projected benefit obligation $1,483,000 $1,511,000
Market-related and fair value of plan assets 797,000 1,130,700
Accumulated benefit obligation 1,583,000 1,700,800
Accumulated OCI (G/L)—Net gain 0 (198,300 )


The service cost component of pension expense for employee services rendered in the current year amounted to $78,000 and the amortization of prior service cost was $117,800. The company’s actual funding (contributions) of the plan in 2020 amounted to $254,000. The expected return on plan assets and the actual rate were both 10%; the interest/discount (settlement) rate was 10%. Accumulated other comprehensive income (PSC) had a balance of $1,178,000 on January 1, 2020. Assume no benefits paid in 2020.

- Determine the amounts of the components of pension expense that should be recognized by the company in 2020. (Enter amounts that reduce pension expense with either a negative sign preceding the number e.g. -45 or parenthesis e.g. (45).

- Prepare the journal entry to record pension expense and the employer’s contribution to the pension plan in 2020

- Indicate the pension-related amounts that would be reported on the income statement partial, comprehensive income statement, and the balance sheet partial for Pharoah Company for the year 2020.

In: Accounting