Reid acquired two assets in 2017: computer equipment (5-year property) acquired on August 6th with a basis of $510,000 and machinery (7-year property) on November 9th with a basis of $510,000. Assume that Reid has sufficient income to avoid any limitations. Calculate the maximum depreciation expense including §179 expensing (but not bonus expensing). 1-Section 179 expense? 2-Depreciation on computer? 3-Depreciation on machinery? 4-Total maximum depreciation expense including §179 expense?

Traxonia Railroad Inc. has three regional divisions organized as profit centers. The chief executive officer (CEO) evaluates divisional performance, using income from operations as a percent of revenues. The following quarterly income and expense accounts were provided from the trial balance as of December 31, 2016:

The company operates three service departments: Shareholder Relations, Customer Support, and Legal. The Shareholder Relations Department conducts a variety of services for shareholders of the company. The Customer Support Department is the company’s point of contact for new service, complaints, and requests for repair. The department believes that the number of customer contacts is an activity base for this work. The Legal Department provides legal services for division management. The department believes that the number of hours billed is an activity base for this work. The following additional information has been gathered:

On January 1, 2020, Bronson Corporation had the following information available
regarding its stockholders' equity:

4%, $50 par, cumulative Preferred Stock, 300,000 shares authorized 9,000,000 $
Paid-in Capital in Excess of Par - Preferred Stock 1,440,000
Common Stock, $3 par, 1,000,000 shares authorized, 530,000 shares issued, ?
510,000 shares outstanding
Paid-in Capital in Excess of Par - Common Stock 4,770,000
Paid-in Capital from Treasury Stock Transactions 55,000
Treasury Stock (held at cost) 180,000
Retained Earnings 17,210,000

The following transactions affecting stockholders' equity took place during 2020:
2/4/2020 Issued 170,000 shares of common stock for $13/share.
3/17/2020 Issued 40,000 shares of preferred stock for $54/share.
4/24/2020 Declared a cash dividend to shareholders of record on May 15, 2020 payable on
May 31, 2020. The preferred shareholders are to receive their contractual preference
(no dividends are in arrears) and the common shareholders are to receive $0.30/share.
Use separate payable accounts for preferred and common dividends.
5/31/2020 Paid the cash dividend.
7/3/2020 Sold all of the treasury stock for $7/share.
8/15/2020 Declared a 3:1 stock split on the common stock. Authorized shares were adjusted
to accommodate the split.
9/10/2020 Declared a 10% stock dividend on the common stock for shareholders of record
September 30, 2020, to be issued on October 15, 2020. The market price of the
common stock on September 10, 2020 was $6/share.
10/15/2020 Issued the shares in conjunction with the stock dividend.
11/18/2020 Repurchased 30,000 shares of its own common stock for $5/share.
12/14/2020 Closed out any and all dividend accounts.
12/31/2020 Closed $500,000 of revenues and 265,000 of expenses for fiscal 2020.
Instructions

YOU MUST COMPLETE THE PROJECT BY COMPUTER AND IT MUST BE FORMATTED TO PRINT CORRECTLY!
1) Open T-accounts for the stockholders' equity accounts that contain balances on January 1, 2020 and
insert the appropriate balance labeling it 1/1/20.
2) Record formal journal entries for the 2020 transactions. Journal descriptions are not required.
3) Post the 2020 journal entries to the stockholders' equity T-accounts (or create new stockholders'
equity T-accounts if necessary) labeling each entry with the appropriate date.
4) Prepare the stockholders' equity section of the balance sheet at December 31, 2020.

HR Management

Walmart’s Global Strategy

Walmart’s international division has an important job. With 80% of the retail industry’s growth coming from outside of the United States, WalMart international’s $137 billion in international sales in 2014 -  29% of sales overall - is a key driver of overall revenue growth. To drive this performance, David Cheesewright, CEO of WalMart’s international division, is focusing on current operations in growth markets and e-commerce.

Shopping trends indicate that what customers buy is changing fast, and that they are quickly switching to online shopping platforms. After decades of work trying to develop a foundation in the Chinese market, Walmart is consolidating its portfolio of stores in that country, closing nonperforming retail stores and investing in successful ones. To enter the Chinese e-grocery market, Walmart holds a 51% stake in Yihaodian, which has posted triple-digit growth—twice the market rate.

The company’s operations in Brazil and Mexico are experiencing slowing growth, in part a result of economic cycles and their brand’s lifecycle, but they still offer the opportunity to develop strong, mature

businesses. International expansion comes with country specific challenges. After experiencing too many regulatory difficulties in India, Walmart canceled plans to open retail stores there. Instead, Walmart India is focusing on business-to-business sales.

Although Walmart has successfully dominated the U.S. market, it has found that expanding its reach across the globe does not always fit with its strengths. In addition, navigating the variety of economic and regulatory requirements across different countries adds significant complexity to the company’s operations. Finally, gaining access to and managing workforces with different values, cultures, and languages present tremendous challenges.

1)    What strategies should a company use to determine which countries it should expand into?

2)    How can a company assess how cultural and economic differences might impact its ability to succeed in different countries?

3)    What things can companies do to manage a global workforce more effectively.

Walmart’s Global Strategy

Walmart’s international division has an important job. With 80% of the retail industry’s growth coming from outside of the United States, Walmart’s $137 billion in international sales in 2014—29% of sales overall—is a key driver of overall revenue growth. To drive this performance, David Cheesewright, CEO of Walmart’s international division, is focusing on current operations in growth markets and e-commerce. Shopping trends indicate that what customers buy is changing fast, and that they are quickly switching to online shopping platforms. After decades of work trying to develop a foundation in the Chinese market, Walmart is consolidating its portfolio of stores in that country, closing nonperforming retail stores and investing in successful ones. To enter the Chinese e-grocery market, Walmart holds a 51% stake in Yihaodian, which has posted triple-digit growth—twice the market rate. The company’s operations in Brazil and Mexico are experiencing slowing growth, in part a result of economic cycles and their brand’s life cycle, but they still offer the opportunity to develop strong, mature businesses. International expansion comes with country-specific challenges. After experiencing too many regulatory difficulties in India, Walmart canceled plans to open retail stores there. Instead, Walmart India is focusing on business-to-business sales.

Although Walmart has successfully dominated the U.S. market, it has found that expanding its reach across the globe does not always fit with its strengths. In addition, navigating the variety of economic and regulatory requirements across different countries adds significant complexity to the company’s operations. Finally, gaining access to and managing workforces with different values, cultures, and languages present tremendous challenges.

QUESTIONS

1. What criteria should a company use to determine which countries it should expand into?

2. How can a company assess how cultural and economic differences might impede its ability to succeed in different countries?

3. What things can companies do to manage a global workforce more effectively?

SOURCE: S. Banjo, “Wal-Mart’s Strategy to Jump Start Growth in China,” Wall Street Journal, August 5, 2014.

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3)

BOOER COMPANY

Worksheet (partial)

For the Year Ended December 31, 2018

Instructions

Prepare a classified balance sheet for Booer Company.

Presented below is information related to Concord Company. Date Ending Inventory (End-of-Year Prices) Price Index December 31, 2017 $ 83,200 100 December 31, 2018 145,934 131 December 31, 2019 142,950 150 December 31, 2020 161,696 163 December 31, 2021 193,200 175 December 31, 2022 227,698 181 Compute the ending inventory for Concord Company for 2017 through 2022 using the dollar-value LIFO method.

Your company, XYZ, Inc., wants to create an outdoor area adjacent to its office building for its employees to enjoy during lunch, breaks or during non-business hours.The city, Village Township, has restrictions of the use of the land (zoning) and the type of structures that may be erected on the land. The plans that your company have created is in violation of the city ordinances. Your company does not want to spend a lot of money to resolve negotiate with the city regarding the ordinance problem because the plans and cost of building the park are over budge. You are in charge of helping find a resolution for this conflict with the city. You report directly to the CEO of XYZ, Inc., and she has asked you to research whether arbitration, mediation or litigation would be in the best interest of both parties to resolve this conflict.

1. Differentiate the roles of a mediator and arbitrator so your boss clearly understand the difference.
2. Explain all three options (arbitration, mediation, and litigation) in relation to the conflict with they city.
3. Explain which option you think is best for the company to resolve this conflict.
   • Describe why it's the best option for the company based on the facts related to the company and the conflict.
   • Provide references to resources that help support for your position.

Pharoah Corporation provides the following information about its defined benefit pension plan for the year 2020:

Pharoah follows IFRS.

QUESTIONS:

A) Prepare a continuity schedule for 2020 for the defined benefit obligation.

B) Prepare a continuity schedule for 2020 for the plan assets.

C) Calculate pension expense for the year 2020.

D) Prepare all pension journal entries recorded by Pharoah in 2020.

E) What pension amount will appear on Pharoah’s SFP at December 31, 2020?

Portions of the financial statements for Parnell Company are provided below.

Required:
1. Prepare the cash flows from operating activities section of the statement of cash flows for Parnell Company using the direct method. (Enter your answers in thousands (i.e., 10,000 should be entered as 10). Amounts to be deducted should be indicated with a minus sign.)