5. All of the following are reasons for purifying protoplasts before culture except

• All of the above are valid reasons
• Remove non-totipotent cells
• Remove cellular debris
• Remove non-protoplasted cells
• Remove all traces of protoplasting enzymes

What are the benefits and disadvantages of each of the following? Consider both the system level and programmer level.

1. Blocking send and non-blocking send in IPC
2. Blocking receive and non-blocking receive in IPC
3. zero-capacity and bounded capacity in IPC buffers

During 2018, EFG Company has the following selected transactions occurred in the order given. Please prepare the necessary journal entries to record these transactions for sub-questions 1-8, and answer in short essays or bullet points for sub-question 9. If there is no journal entry necessary, write “no entry needed”.

Questions:

1. On March 1, EFG company issued 2,000 shares of common stock (par value $1 per share) at the initial public offering. The market price was $15. Prepare the necessary journal entry to record the stock issuance. (1 point)

2. On April 1, the company declared the dividend of $1 per share to be paid on April 20, 2018. (1 point)

3. On April 10, 2018, the company records the shareholders who will receive the dividends. (1 point)

4. On April 20, 2018, the company paid the dividend to its shareholders. (1 point)

5. On September 1, 2018, the company issued 50% stock dividend to each share. (2 points)

6. On October 1, 2018, the company announced a stock split of 2-for-1. (1 point)

7. On Nov. 1, 2018, the company repurchased 1000 shares from the market, paying $6000 cash in total. (1 point)

8. On Nov. 15, 2018, the company reissued 500 shares to the market at $8 per share. (1 point)

9. What are the primary differences and similarities between stock split and stock dividends? Name at least three similarities and three differences. (3 points)

QS 12-19 Indirect: Preparing statement of cash flows LO P1, P2, P3

Additional Information

1. No dividends are declared or paid in 2018.
2. Issued additional stock for $14,700 cash in 2018.
3. Purchased equipment for cash in 2018; no equipment was sold in 2018.

1. Use the above financial statements and additional information to prepare a statement of cash flows for the year ended December 31, 2018, using the indirect method. (Amounts to be deducted should be indicated by a minus sign.)
  

Bill is single and has the following information for 2018. What is his AGI after considering all of this information?

• Bill is an executive and has $400,000 of salary income.

• Bill owns 100% of Holtz, Inc. Holtz is a C corporation with $2,000,000 of taxable income for 2018. Bill receives a $75,000 cash dividend.

• Bill owns 100% of Wallace Enterprises. Wallace is an S corporation. Bill does not materially participate in the S corporation. His basis in the stock is $70,000 before considering any of the 2018 transactions. Wallace Enterprises reports the following information for 2018:

  Ordinary loss from business activities	$ (35,000)
  Municipal bond interest income	10,000
  Cash distribution paid by Wallace to Bill	12,000

• Bill owns an interest in Master, LLC, in which he materially participates. The LLC has a loss for 2018, and his share of the LLC’s loss is ($40,000). His basis in the partnership before the loss is $90,000. In addition, the partnership distributes $20,000 to Bill in 2018.

• Bill also owns a limited partnership interest in Kearns Ltd. His basis in the partnership interest is $80,000 before considering any of the 2018 transactions. Bill’s K‑1 shows that his share of the partnership items for 2018 is as follows:

1. Heron, Inc. is a company that re-sells one product, a lawn chair. A contractor makes the product exclusively for Heron, so Heron has no manufacturing costs. Henron sells each chair for $10 per unit, but plans to raise the sales price to $11.00 per unit beginning May 1, 2018 2. The estimated sales (in units) are as follows: Nov 17 Dec 17 Jan 18 Feb 18 Mar 18 Apr 18 May 18 Jun 18 Jul 18 12,000 13,000 9,000 10,000 13,000 15,000 18,000 18,000 17,000 3. They expect that 60% of any month’s sales are for cash, and the remaining 40% are on credit. Of the credit sales, they expect to collect 20% in the month of the sale, 70% in the following month, and 10% in the month after that. 4. The firm’s policy regarding inventory is to stock (i.e. have in ending inventory) 30% of the estimated sales for the next month. 5. Each lawn chair costs Henron $6. They plan to pay for 30% of the inventory purchases in the month of purchase, and pay the remaining 70% the following month (i.e. all of the previous month’s Accounts Payable are paid off by the end of any month.)

On January 1, 2018, Oriole Corp. had 459,000 shares of common stock outstanding. During 2018, it had the following transactions that affected the Common Stock account.

Campbell Manufacturing Company was started on January 1, 2018, when it acquired $89,000 cash by issuing common stock. Campbell immediately purchased office furniture and manufacturing equipment costing $7,700 and $26,500, respectively. The office furniture had an 8-year useful life and a zero salvage value. The manufacturing equipment had a $4,000 salvage value and an expected useful life of three years. The company paid $11,600 for salaries of administrative personnel and $15,100 for wages to production personnel. Finally, the company paid $14,300 for raw materials that were used to make inventory. All inventory was started and completed during the year. Campbell completed production on 4,500 units of product and sold 3,550 units at a price of $15 each in 2018. (Assume that all transactions are cash transactions and that product costs are computed in accordance with GAAP.)

Required

Determine the total product cost and the average cost per unit of the inventory produced in 2018. (Round "Average cost per unit" to 2 decimal places.)

Determine the amount of cost of goods sold that would appear on the 2018 income statement. (Do not round intermediate calculations.)

Determine the amount of the ending inventory balance that would appear on the December 31, 2018, balance sheet. (Do not round intermediate calculations.)

Determine the amount of net income that would appear on the 2018 income statement.

Determine the amount of retained earnings that would appear on the December 31, 2018, balance sheet.

Determine the amount of total assets that would appear on the December 31, 2018, balance sheet.

On January 1, 2018, Sweet Corp. had 472,000 shares of common stock outstanding. During 2018, it had the following transactions that affected the Common Stock account.

February 1 Issued 125,000 shares

March 1 Issued a 10% stock dividend

May 1 Acquired 100,000 shares of treasury stock

June 1 Issued a 3-for-1 stock split

October 1 Reissued 63,000 shares of treasury stock

( A ) Determine the weighted-average number of shares outstanding as of December 31, 2018.

The weighted-average number of shares outstanding ___________________________???

( B) Assume that Sweet Corp. earned net income of $3,568,000 during 2018. In addition, it had 101,000 shares of 9%, $100 par nonconvertible, noncumulative preferred stock outstanding for the entire year. Because of liquidity considerations, however, the company did not declare and pay a preferred dividend in 2018. Compute earnings per share for 2018, using the weighted-average number of shares determined in part (a). (Round answer to 2 decimal places, e.g. $2.55.)

Earnings per share $__________________????

( C) Assume the same facts as in part (b), except that the preferred stock was cumulative. Compute earnings per share for 2018. (Round answer to 2 decimal places, e.g. $2.55.)