Questions
The following information relates to YogaGuru for the year ended 30 June 2020. Prepaid rent 14,500...

The following information relates to YogaGuru for the year ended 30 June 2020. Prepaid rent 14,500 Accounts payable 52,700 Electricity expense 7,500 Unearned revenue 11,600 Wages payable 12,500 Accumulated depreciation- Equipment 8,600 Capital ? Rent expense 32,000 Cash at bank 75,800 Wages expense 135,400 Supplies 3,900 Service revenue 282,600 Bank Loan (due in 2025) 38,000 Accounts receivable 7,500 Drawings 4,000 Equipment 235,200 Depreciation expense-Equipment 8,600 Required: Prepare an Income Statement , a fully classified Balance Sheet in narrative format and a Statement of Changes in Equity for the year ended 30 June 2020 for YogaGuru.

In: Accounting

The following information relates to YogaGuru for the year ended 30 June 2020. Prepaid rent 14,500...

The following information relates to YogaGuru for the year ended 30 June 2020.

Prepaid rent

14,500

Accounts payable

52,700

Electricity expense

7,500

Unearned revenue

11,600

Wages payable

12,500

Accumulated depreciation- Equipment

8,600

Capital

?

Rent expense

32,000

Cash at bank

75,800

Wages expense

135,400

Supplies

3,900

Service revenue

282,600

Bank Loan (due in 2025)

38,000

Accounts receivable

7,500

Drawings

4,000

Equipment

235,200

Depreciation expense-Equipment

8,600

Required: Prepare an Income Statement , a fully classified Balance Sheet in narrative format and a Statement of Changes in Equity for the year ended 30 June 2020 for YogaGuru.

In: Accounting

You find the following Treasury bond quotes. To calculate the number of years until maturity, assume...

You find the following Treasury bond quotes. To calculate the number of years until maturity, assume that it is currently May 2016. The bonds have a par value of $1,000. Rate Maturity Mo/Yr Bid Asked Chg Ask Yld ?? May 20 103.4729 103.5457 +.3132 6.179 5.674 May 25 104.5069 104.6526 +.4401 ?? 6.208 May 35 ?? ?? +.5522 4.211 In the above table, find the Treasury bond that matures in May 2025. What is your yield to maturity if you buy this bond? (Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.) Yield to maturity %

In: Finance

I WANT TO IMPLEMENT THIS IN JAVA PLEASE I want to create a small user input...

I WANT TO IMPLEMENT THIS IN JAVA PLEASE

I want to create a small user input system for a university student, where they put the season and year of when they started their uni course. For example the system will ask "What year did you start your degree?", the user will input "Autumn/2022" as a string. Now from a string format as shown, it should take that user input and calculate for example +2 or +3 years to the date. Also it needs to be able to change from Autumn, to another season depending on the amount of years it takes. So if the course will take 3 years, the student will finish "Summer/2025".

How can I implement this?

In: Computer Science

I WANT TO IMPLEMENT THIS IN JAVA PLEASE I want to create a small user input...

I WANT TO IMPLEMENT THIS IN JAVA PLEASE I want to create a small user input system for a university student, where they put the season and year of when they started their uni course. For example the system will ask "What year did you start your degree?", the user will input "Autumn/2022" as a string. Now from a string format as shown, it should take that user input and calculate for example +2 or +3 years to the date. Also it needs to be able to change from Autumn, to another season depending on the amount of years it takes. So if the course will take 3 years, the student will finish "Summer/2025". How can I implement this?

In: Computer Science

Information from the financial statements of Ames Fabricators, Inc., included the following:    On October 15,...

Information from the financial statements of Ames Fabricators, Inc., included the following:
  

On October 15, 2020, the board of directors of Ensor Materials Corporation approved a stock option plan for key executives. On January 1, 2021, 23 million stock options were granted, exercisable for 23 million shares of Ensor's $1 par common stock. The options are exercisable between January 1, 2024, and December 31, 2026, at 90% of the quoted market price on January 1, 2021, which was $20. The fair value of the 23 million options, estimated by an appropriate option pricing model, is $6 per option. Ensor chooses the option to recognize forfeitures only when they occur.

Ten percent (2.3 million) of the options were forfeited when an executive resigned in 2022. All other options were exercised on July 12, 2025, when the stock’s price jumped unexpectedly to $22 per share.

Required:
1. When is Ensor’s stock option measurement date?
2. Determine the compensation expense for the stock option plan in 2021. (Ignore taxes.)
3. Prepare the journal entries to reflect the effect of forfeiture of the stock options on Ensor’s financial statements for 2022 and 2023.
5. Prepare the journal entry to account for the exercise of the options in 2025.


Ames’s net income for the year ended December 31, 2021, is $900,000. The income tax rate is 25%. Ames paid dividends of $5 per share on its preferred stock during 2021.

Required:

Compute basic and diluted earnings per share for the year ended December 31, 2021. (Enter your answers in thousands (For example, 100,000 should be entered as 100). Do not round intermediate calculations.)

In: Accounting

Exercise 12-4 Presented below is selected information for Cullumber Company. Answer the questions asked about each...

Exercise 12-4

Presented below is selected information for Cullumber Company.

Answer the questions asked about each of the factual situations.

1. Cullumber purchased a patent from Vania Co. for $1,120,000 on January 1, 2015. The patent is being amortized over its remaining legal life of 10 years, expiring on January 1, 2025. During 2017, Cullumber determined that the economic benefits of the patent would not last longer than 6 years from the date of acquisition. What amount should be reported in the balance sheet for the patent, net of accumulated amortization, at December 31, 2017?

The amount to be reported $


2. Cullumber bought a franchise from Alexander Co. on January 1, 2016, for $310,000. The carrying amount of the franchise on Alexander’s books on January 1, 2016, was $460,000. The franchise agreement had an estimated useful life of 30 years. Because Cullumber must enter a competitive bidding at the end of 2018, it is unlikely that the franchise will be retained beyond 2025. What amount should be amortized for the year ended December 31, 2017?

The amount to be amortized $


3. On January 1, 2017, Cullumber incurred organization costs of $255,000. What amount of organization expense should be reported in 2017?

The amount to be reported $


4. Cullumber purchased the license for distribution of a popular consumer product on January 1, 2017, for $142,000. It is expected that this product will generate cash flows for an indefinite period of time. The license has an initial term of 5 years but by paying a nominal fee, Cullumber can renew the license indefinitely for successive 5-year terms. What amount should be amortized for the year ended December 31, 2017?

The amount to be amortized $

In: Accounting

Presented below is selected information for Sandhill Company. Answer the questions asked about each of the...

Presented below is selected information for Sandhill Company.
Answer the questions asked about each of the factual situations.
1. Sandhill purchased a patent from Vania Co. for $1,300,000 on January 1, 2015. The patent is being amortized over its remaining legal life of 10 years, expiring on January 1, 2025. During 2017, Sandhill determined that the economic benefits of the patent would not last longer than 6 years from the date of acquisition. What amount should be reported in the balance sheet for the patent, net of accumulated amortization, at December 31, 2017?

The amount to be reported

$

2. Sandhill bought a franchise from Alexander Co. on January 1, 2016, for $400,000. The carrying amount of the franchise on Alexander’s books on January 1, 2016, was $550,000. The franchise agreement had an estimated useful life of 30 years. Because Sandhill must enter a competitive bidding at the end of 2018, it is unlikely that the franchise will be retained beyond 2025. What amount should be amortized for the year ended December 31, 2017?

the amount to be amortized

$

3. On January 1, 2017, Sandhill incurred organization costs of $300,000. What amount of organization expense should be reported in 2017?

The amount to be reported

$

4. Sandhill purchased the license for distribution of a popular consumer product on January 1, 2017, for $160,000. It is expected that this product will generate cash flows for an indefinite period of time. The license has an initial term of 5 years but by paying a nominal fee, Sandhill can renew the license indefinitely for successive 5-year terms. What amount should be amortized for the year ended December 31, 2017?

The amount to be amortized

$

In: Accounting

Exercise 12-4 Presented below is selected information for Ivanhoe Company. Answer the questions asked about each...

Exercise 12-4

Presented below is selected information for Ivanhoe Company.

Answer the questions asked about each of the factual situations.

1. Ivanhoe purchased a patent from Vania Co. for $1,130,000 on January 1, 2015. The patent is being amortized over its remaining legal life of 10 years, expiring on January 1, 2025. During 2017, Ivanhoe determined that the economic benefits of the patent would not last longer than 6 years from the date of acquisition. What amount should be reported in the balance sheet for the patent, net of accumulated amortization, at December 31, 2017?

The amount to be reported

$


2. Ivanhoe bought a franchise from Alexander Co. on January 1, 2016, for $315,000. The carrying amount of the franchise on Alexander’s books on January 1, 2016, was $465,000. The franchise agreement had an estimated useful life of 30 years. Because Ivanhoe must enter a competitive bidding at the end of 2018, it is unlikely that the franchise will be retained beyond 2025. What amount should be amortized for the year ended December 31, 2017?

The amount to be amortized

$


3. On January 1, 2017, Ivanhoe incurred organization costs of $257,500. What amount of organization expense should be reported in 2017?

The amount to be reported

$


4. Ivanhoe purchased the license for distribution of a popular consumer product on January 1, 2017, for $143,000. It is expected that this product will generate cash flows for an indefinite period of time. The license has an initial term of 5 years but by paying a nominal fee, Ivanhoe can renew the license indefinitely for successive 5-year terms. What amount should be amortized for the year ended December 31, 2017?

The amount to be amortized

$

In: Accounting

Presented below is selected information for Oriole Company. Answer the questions asked about each of the...

Presented below is selected information for Oriole Company. Answer the questions asked about each of the factual situations. (Do not leave any answer field blank. Enter 0 for amounts.) (a) On January 1, 2017, Oriole incurred organization costs of $277,000. What amount of organization expense should be reported in 2017? Amount to be reported $

(b) Oriole bought a franchise from Ivanhoe Co. on January 1, 2016, for $195,000. The carrying amount of the franchise on Ivanhoe’s books on January 1, 2016, was $249,000. The franchise agreement had an estimated useful life of 10 years. Because Oriole must enter a competitive bidding at the end of 2018, it is unlikely that the franchise will be retained beyond 2025. What amount should be amortized for the year ended December 31, 2017? Amount to be amortized $

(c) Oriole purchased a patent from Epp Co. for $510,000 on January 1, 2015. The patent is being amortized over its remaining legal life of 10 years, expiring on January 1, 2025. During 2017, Oriole determined that the economic benefits of the patent would not last longer than 6 years from the date of acquisition. What amount should be reported in the balance sheet for the patent, net of accumulated amortization, at December 31, 2017? Amount to be reported $

(d) Oriole purchased the license for distribution of a popular consumer product on January 1, 2017, for $76,800. It is expected that this product will generate cash flows for an indefinite period of time. The license has an initial term of 5 years but by paying a nominal fee, Oriole can renew the license indefinitely for successive 5-year terms. What amount should be amortized for the year ended December 31, 2017? Amount to be amortized $

In: Accounting