Questions
Easton Company prepares annual adjusting entries only. During the third quarter of Fiscal Year 2018, Easton...

Easton Company prepares annual adjusting entries only. During the third quarter of Fiscal Year 2018, Easton Company acquired the following trading securities:

Date

Company

# of Shares

Price per Share

8/15

X Company

1,500

$42

9/25

Y Company

1,250

30

9/30

Z Company

1,000

28

On November 10th, Easton Company sold the Y Company stock for $31 per share. On December 15th, Z Company paid dividends of $0.12 per share. The following were the year-end market values:

Company

FMV per Share

X Company

$45

Y Company

15

Z Company

23

What the total dollar values that Easton Company should record for the Unrealized Gain or (Loss) on Trading Securities for 2018? Enter a Loss as a negative number.

In: Accounting

Easton Company prepares annual adjusting entries only. During the third quarter of Fiscal Year 2018, Easton...

Easton Company prepares annual adjusting entries only. During the third quarter of Fiscal Year 2018, Easton Company acquired the following trading securities:

Date

Company

# of Shares

Price per Share

8/15

X Company

1,500

$40

9/25

Y Company

1,250

30

9/30

Z Company

1,000

28

On November 10th, Easton Company sold the Y Company stock for $31 per share. On December 15th, Z Company paid dividends of $0.12 per share. The following were the year-end market values:

Company

FMV per Share

X Company

$45

Y Company

15

Z Company

31

What the total dollar values that Easton Company should record for the Unrealized Gain or (Loss) on Trading Securities for 2018? Enter a Loss as a negative number.

In: Accounting

Easton Company prepares annual adjusting entries only. During the third quarter of Fiscal Year 2018, Easton...

Easton Company prepares annual adjusting entries only. During the third quarter of Fiscal Year 2018, Easton Company acquired the following trading securities:

Date

Company

# of Shares

Price per Share

8/15

X Company

1,500

$50

9/25

Y Company

1,250

30

9/30

Z Company

1,000

20

On November 10th, Easton Company sold the Y Company stock for $31 per share. On December 15th, Z Company paid dividends of $0.12 per share. The following were the year-end market values:

Company

FMV per Share

X Company

$41

Y Company

15

Z Company

31

What the total dollar values that Easton Company should record for the Unrealized Gain or (Loss) on Trading Securities for 2018? Enter a Loss as a negative number.

In: Accounting

What do you think would happen if an Asiatic Streptococcus strain acquired genetic information from a...

What do you think would happen if an Asiatic Streptococcus strain acquired genetic information from a European Streptococcus by means of a plasmid, integrated it into a CRISPR array, and then was shipped on a load of “active culture” Yak milk to London?

In: Biology

Explore how multinational giant Philips NV has evolved over time. The Dutch company, which was internationally...

Explore how multinational giant Philips NV has evolved over time. The Dutch company, which was internationally oriented almost from the start, moved to a national organization approach during World War II. This approach, which allowed the company to tailor its product line and marketing to each national market, remained in place for several decades, however, by the 1970s, the duplication of effort the approach required began to cause problems and Philips shifted toward a product division structure that established international production centers. In the mid-1990s, a new CEO implemented significant changes replacing Philips’ 21 product divisions with just 7 global business divisions. This new structure was further refined in 2008 to establish three global divisions responsible for product strategy, global marketing, and production decisions. QUESTION 1: Why did Philips’ decentralized structure make sense in the 1950s and 1970s? Why did this structure start to create problems for the company in the 1980s? QUESTION 2: What was Philips trying to achieve by tilting the balance of power in its structures away from national organizations and toward the product divisions? Why was this hard to achieve? QUESTION 3: What was the point of the organizational changes made by Cor Boonstra? What was he trying to achieve? QUESTION 4: In 2008 Philips reorganized yet again. Why do you think it did this? What is it trying to achieve?

In: Operations Management

Presented below is information related to Tobias Corp., for the year 2020. Required: Prepare a multiple-step...

Presented below is information related to Tobias Corp., for the year 2020. Required: Prepare a multiple-step Income Statement and Statement of Retained Earnings for 2020 in good form (with headings). Assume the 300,000 shares of common stock were outstanding during 2020.

Administrative Expenses 70,000

Cost of Goods Sold 1,200,000

Depreciation Expense overstated in 2015 105,000

Dividend revenue 30,000

Dividends Declared 120,000

Effect on prior years of Change in Accounting Principle (credit) 220,000

Gain from sale of land in discontinued component 300,000

Interest Expense 45,000

Interest Revenue 20,000

Loss from operations in discontinued component of business 240,000

Retained Earnings, 1/1/2020 460,000

Sales Discounts 12,000

Sales Return & Allowances 50,000

Sales Revenue $ 1,950,000

Selling Expenses 95,000

Write-off of Goodwill due to Impairment 75,000

Federal tax rate of 20% on all items

In: Accounting

In preparation for significant expansion of its international operations, Ayayai Co. has adopted a plan to...

In preparation for significant expansion of its international operations, Ayayai Co. has adopted a plan to gradually shift to the same accounting methods as used by its international competitors. Part of this plan includes a switch from LIFO inventory accounting to FIFO (recall that IFRS does not allow LIFO). Ayayai decides to make the switch to FIFO at January 1, 2020. The following data pertains to Ayayai’s 2020 financial statements (in millions of dollars).
Sales $490
Inventory purchases 290
12/31/20 inventory (using FIFO) 520
Compensation expense 11

All sales and purchases were with cash. All of 2020’s compensation expense was paid with cash. (Ignore taxes.) Ayayai’s property, plant, and equipment cost $340 million and has an estimated useful life of 10 years with no salvage value.

Ayayai Co. reported the following for fiscal 2019 (in millions of dollars):
AYAYAI CO.
BALANCE SHEET AT DECEMBER 31, 2019
2019 2018 2019 2018
Cash $ 311 $ 140 Common stock $ 440 $ 440
Inventory 440 420 Retained earnings 583 426
Property, plant, and equipment 340 340
Accumulated depreciation (68 ) (34 )
Total assets $ 1,023 $ 866 Total equity $ 1,023 $ 866
AYAYAI CO.
INCOME STATEMENT
FOR THE YEAR ENDED DECEMBER 31, 2019
2019
Sales $ 440
Cost of goods sold (240 )
Depreciation expense (34 )
Compensation expense (9 )
Net income $ 157

Summary of Significant Accounting Policies
Inventory: The company accounts for inventory by the LIFO method. The current cost of the company’s inventory, which approximates FIFO, was $54 and $44 higher at the end of fiscal 2019 and 2018, respectively, than those reported in the balance sheet.
Prepare Ayayai’s December 31, 2020, balance sheet and an income statement for the year ended December 31, 2020. In columns beside 2020’s numbers, include 2019’s numbers as they would appear in the 2020 financial statements for comparative purposes. (List Assets in order of liquidity.)
AYAYAI CO.
Balance Sheet

December 31, 2020For the Year Ended December 31, 2020For the Quarter Ended December 31, 2020

2020 2019
$ $

Long-Term InvestmentsTotal AssetsTotal Current AssetsCurrent AssetsTotal Intangible AssetsCurrent LiabilitiesTotal EquityTotal Current LiabilitiesShort-Term InvestmentsIntangible Assets

$ $
$

Short-Term InvestmentsTotal Current LiabilitiesIntangible AssetsTotal EquityTotal Intangible AssetsLong-Term InvestmentsTotal AssetsCurrent AssetsCurrent LiabilitiesTotal Current Assets

$ $
AYAYAI CO.
Income Statement

December 31, 2020For the Year Ended December 31, 2020For the Quarter Ended December 31, 2020

2020 2019
$ $

Total ExpensesExpensesRevenuesNet Income / (Loss)Total RevenuesDividends

$ $
Compute Ayayai’s inventory turnover for 2019 and 2020 under both LIFO and FIFO. Assume averages are equal to year-end balances where necessary. (Round answers to 2 decimal places, e.g. 52.75. Do not leave any field blank. Enter 0 for the amounts if the answer is N/A.)
2020 2019
LIFO
FIFO

In: Accounting

Describe STRENGTHS, WEAKNESSES, OPPORTUNITIES, THREATS, as an Software Engineering Manager for the newly established E-commerce company....

Describe STRENGTHS, WEAKNESSES, OPPORTUNITIES, THREATS, as an Software Engineering Manager for the newly established E-commerce company. What would be the SWOT of new Software Engineering Manager in an new establsihed E-commerce? Please provide information as much as possible. Provide specific SWOT specifically for SEM. For example, for strength we can relate that This manager has a right knowledge in this sphere, as he studied in IT university and so on.

In: Psychology

The following selected transactions relate to investment activities of Ornamental Insulation Corporation during 2018. The company...

The following selected transactions relate to investment activities of Ornamental Insulation Corporation during 2018. The company buys debt securities, intending to profit from short-term differences in price and maintaining them in an active trading portfolio. Ornamental’s fiscal year ends on December 31. No investments were held by Ornamental on December 31, 2017. Mar. 31 Acquired 8% Distribution Transformers Corporation bonds costing $500,000 at face value. Sep. 1 Acquired $1,200,000 of American Instruments' 10% bonds at face value. Sep. 30 Received semiannual interest payment on the Distribution Transformers bonds. Oct. 2 Sold the Distribution Transformers bonds for $575,000. Nov. 1 Purchased $1,900,000 of M&D Corporation 6% bonds at face value. Dec. 31 Recorded any necessary adjusting entry(s) relating to the investments. The market prices of the investments are: American Instruments bonds $ 1,160,000 M&D Corporation bonds $ 1,970,000 Indicate any amounts that Ornamental Insulation would report in its 2018 income statement, 2018 statement of comprehensive income, and 12/31/2018 balance sheet as a result of these investments. (Amounts to be deducted should be indicated with a minus sign.)

In: Accounting

Contrasting the widespread foreclosures and bursting of the real estate bubble before the Great Recession ten...

Contrasting the widespread foreclosures and bursting of the real estate bubble before the Great Recession ten or twelve years ago, conditions in 2020 suggest that:

Group of answer choices

the market is less exposed now, with lower housing inventories, tighter credit standards and families demanding more suburban homes in light of Covid.

an even worse collapse in suburban real estate values is possible now, than occurred in the Great Recession.

residential values across small towns and suburbs in the US are now moving lower, and a "new" real estate crisis may already be underway.

housing starts and inventories are at all-time highs, and a dramatic fall in single family home prices is expected.

In: Finance