In 2015 The Hi Tower Construction Company, started a 3 year project at a fixed contract price of $21,000,000. The estimated construction costs were $14,400,000. The project was completed on time during the third year. The following information is available for the three year period of the construction project.

2015    2016       2017

Costs Incurred to Date $6,420,000 $12,322,000 $15,135,000

Estimated Costs to Complete 8,150,000    2,368,000        --

Billings to Date 6,400,000   15,150,000   21,000,000

Collections to Date 5,150,000   15,110,000   20,900,000

Required

1. Compute the amount of gross profit to be recognized for

each of the three years using the percentage of completion.

2. Prepare all necessary journal entries for the 2015, 2016, and 2017 years using the percentage of completion method.

3. Compute gross profit to be recognized for the three years of 2015, 2016, and 2017 using the completed contract method.

4. For each of the three years of 2015, 2016, and 2017:

a. Prepare the Income Statement section to report the percentage of completion information.   

b. Prepare the Balance Sheet section to report the percentage of completion information.

Broussard Skateboard's sales are expected to increase by 25% from $8.4 million in 2016 to $10.50 million in 2017. Its assets totaled $6 million at the end of 2016. Broussard is already at full capacity, so its assets must grow at the same rate as projected sales. At the end of 2016, current liabilities were $1.4 million, consisting of $450,000 of accounts payable, $500,000 of notes payable, and $450,000 of accruals. The after-tax profit margin is forecasted to be 6%, and the forecasted payout ratio is 65%. What would be the additional funds needed? Do not round intermediate calculations. Round your answer to the nearest dollar.

Assume that an otherwise identical firm had $7 million in total assets at the end of 2016. Broussard's capital intensity ratio (A0*/S0) is Higher, Lower, or Equal to than the otherwise identical firm; therefore, Broussard is Less, More or the Same capital intensive - it would require A smaller, A Larger or the Same increase in total assets to support the increase in sales.

Whats the $

Higher, lower or equal to

less, more or same

A smaller or a Larger or the same

1. Shown below is Jensen Company’s projected income statement for year 2017, and the balance sheet as of the end of 2016.

Sales are expected to increase from $5 million in 2016 to $7 million in 2017, and net income is expected to increase from $500,000 in 2016 to $700,000 in 2017.   To accommodate this sales growth Jensen will have to invest $3 million in a new warehouse and computerized distribution system. Working capital accounts, including cash, inventory, and payables, will grow at the same rate as sales. For simplicity, ignore interest on debt.

Compute Jensen’s “Internal Growth Rate”.   Will Jensen need external capital during 2017?

What, specifically, is the amount of External Funds Needed (EFN) as of the end of year 2017?  

On February? 28,

2016?,

Dolphin

Corp. issues

6?%,

10?-year

bonds payable with a face value of

=$900,000.

The bonds pay interest on February 28 and August 31.

DolphinDolphin

Corp. amortizes bond discount by the? straight-line method.

Conduct a three factor DuPont analysis for Starbucks and Cheesecake Factory for 2016 and 2017 end-of-fiscal-year results. Use the information from financial statements provided in the section of the 2017 annual report titled: Item 8. Financial Statements and Supplementary Data. Use your analysis to provide a brief (1-2 paragraph) discussion of the change ROE from 2016 to 2017 for each firm and a comparison of the two firms in 2017.

At the end of 2015, Payne Industries had a deferred tax asset account with a balance of $40 million attributable to a temporary book–tax difference of $100 million in a liability for estimated expenses. At the end of 2016, the temporary difference is $80 million. Payne has no other temporary differences and no valuation allowance for the deferred tax asset. Taxable income for 2016 is $205 million and the tax rate is 40%.

Required: 1. Prepare the journal entry(s) to record Payne’s income taxes for 2016, assuming it is more likely than not that the deferred tax asset will be realized. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Enter your answers in millions (i.e., 10,000,000 should be entered as 10).)

2. Prepare the journal entry(s) to record Payne’s income taxes for 2016, assuming it is more likely than not that one-fourth of the deferred tax asset will ultimately be realized. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Enter your answers in millions (i.e., 10,000,000 should be entered as 10).)

I am completing a questionnaire for my course. How can I re-write following questions as closed-ended questions to be included in the questionnaire?

1.Do you believe that World Bank loans significantly helped economic development in Emerging Markets during 2008-2016.

2. Please indicate the extent to which you agree with the following statements: a) The World Bank helped improve the enabling environment for SME firms in Emerging Markets during 2008-2016. b) The World Bank’s mainstreaming of framework agreements addressed project implementation needs in Emerging Markets in 2008-2016.

3. Do you agree that the impact of the 2008 global economic crisis slowed the World Bank’s lending enhancement upon economic growth in Emerging markets?

4. To what extent do you agree with the following statement: Given the degree their exposure to global financial markets, Business Executives have a better understanding than Professors of the degree to which the World Bank’s lending enhanced economic growth in emerging markets during the period 2008-2016.

THANKS

Problem 12-02

AFN

equation Broussard Skateboard's sales are expected to increase by 20% from $7.4 million in 2016 to $8.88 million in 2017. Its assets totaled $5 million at the end of 2016. Broussard is already at full capacity, so its assets must grow at the same rate as projected sales. At the end of 2016, current liabilities were $1.4 million, consisting of $450,000 of accounts payable, $500,000 of notes payable, and $450,000 of accruals. The after-tax profit margin is forecasted to be 6%, and the forecasted payout ratio is 55%. What would be the additional funds needed? Do not round intermediate calculations. Round your answer to the nearest dollar.________ $

Assume that an otherwise identical firm had $6 million in total assets at the end of 2016. The identical firm's capital intensity ratio (A0*/S0) is _________ (A. higher than, B.Less than, C.equal to )than Broussard's; therefore, the identical firm _______ (A less, B more, C the same) capital intensive - it would require________(A, smaller, B larger, C. the same) increase in total assets to support the increase in sales.

Broussard Skateboard's sales are expected to increase by 15% from $8.0 million in 2016 to $9.20 million in 2017. Its assets totaled $5 million at the end of 2016. Broussard is already at full capacity, so its assets must grow at the same rate as projected sales. At the end of 2016, current liabilities were $1.4 million, consisting of $450,000 of accounts payable, $500,000 of notes payable, and $450,000 of accruals. The after-tax profit margin is forecasted to be 4%, and the forecasted payout ratio is 55%. What would be the additional funds needed? Do not round intermediate calculations. Round your answer to the nearest dollar.
$

Assume that an otherwise identical firm had $6 million in total assets at the end of 2016. The identical firm's capital intensity ratio (A₀*/S₀) is -Select-higher than, lower than, or equal to than Broussard's; therefore, the identical firm is -Select-less,more, or the same capital intensive - it would require -Select-a smaller,a larger, or the same increase in total assets to support the increase in sales.

A&K Corporation was established in 2016. A&K has authorized 50,000 shares of common stock, par value $1 per share, and 10,000 authorized shares of 9% preferred stock, par value $20 per share. Net Income for 2016 was $245,000. The following transactions took place during 2016: January 1 Issued 40,000 shares of common stock for cash at $30 per share. February 1 Issued 7,000 shares of preferred stock for cash of $60 per share. June 1 Repurchased 8,000 shares of L&D common stock at $25 per share. August 1 Reissued 1,000 shares of the treasury stock at $26 per share. December 1 Declared cash dividends on Common Stock only totaling $65,000 to be paid on January 15, 2017 to owners on record as of December 31, 2016. Required: Please show calculations a)Prepare journal entries for each of the above transactions. b) Calculate Ending Retained Earnings c.)Prepare the Stockholders' Equity section of the Balance Sheet in good format.