Aykroyd Inc. has sponsored a noncontributory, defined benefit pension plan for its employees since 1997. Prior to 2020, cumulative net pension expense recognized equaled cumulative contributions to the plan.Other relevant information about the pension plan on January 1, 2020, is as follows:1.The company has 200 employees. All these employees are expected to receive benefits under the plan. The average remaining service life per employee is 12 years.2.The projected benefit obligation amounted to $5,000,000 and the fair value of pension plan assets was $3,000,000. The market-related asset value was also $3,000,000. Unrecognized prior service cost was $2,000,000. On December 31, 2020, the projected benefit obligation and the accumulated benefit obligation were $4,850,000 and $4,025,000, respectively. The fair value of the pension plan assets amounted to $4,100,000 at the end of the year. A 10% settlement rate and a 10% expected asset return rate were used in the actuarial present value computations in the pension plan. The present value of benefits attributed by the pension benefit formula to employee service in 2020 amounted to $200,000. The employer's contribution to the plan assets amounted to $775,000 in 2020. This problem assumes no payment of pension benefits. Instructions (Round all amounts to the nearest dollar.)

ABC Ltd., has been facing cash shortage problem for many years. You have just joined the company and made the proposal to prepare cash budget for controlling of cash shortage problem. Management has given you the green signal to prepare the cash budget and made the projection for requirement of cash through commercial bank channel in the coming period. The following information were gathered for preparing the cash budget.

1. Sales budgets

November, 2019…………………………. Rs.200,000

December, 2019……………………………    300,000

January, 2020……………………………..     400,000

            February, 2020……………………………     500,000

            March, 2020………………………………..    600,000

All sales are made on credit basis and customers follow the following patter to pay;

1. 40 % pay in the month of sales.
2. 50 % in the following month of sales.
3. 10 % pay in the second month of sales.

1. Purchase budgets

1. Purchases are made equal to 60 % of the respective month sales at beginning of the month. 50% of purchase amount is paid in the month of purchases and 50% in the following month of purchases
2. Cash operating expenses per month is estimated Rs.80,000.
3. Dividend is expected to be paid Rs.100,000 in the month of January, 2020.
4. Tax is to be paid Rs.50,000 in the month of march, 2020.
5. A new plant costing Rs. 250,000 to be purchased in the month of Feb.,2020.
6. Cash on hand on 1^st January, 2020 is Rs.100,000.
7. A minimum cash balance of Rs.150,000 to be maintained from 31^st January,2020 on ward, company has made arrangement with the local bank a line of credit to meet its cash requirement and if excess cash available it would be paid to bank to pay the loan.

Required: Prepare a cash budget for the month of January, February, March, 2020.

Required: Prepare journal entries for each of the following transactions under the Perpetual Inventory method—include recording date and all required revenue, expense and balance sheet accounts. The Widget Company sells only one product (widgets) and uses FIFO. December 31, 2019 inventory is as follows:

1. January 2, 2020: Received 1,000 widgets with a unit cost of $6.00. The units were shipped from the supplier on December 29, 2019 FOB shipping point. The widgets were not included in the December 31, 2019 inventory. Payment terms are 2/10, net 30. The company uses the Net Method for recording payment discounts.
2. January 5, 2020: Sold 3,000 widgets for $11.00 each and shipped FOB shipping point. Payment terms are 1/10, net 30. The company uses the Gross Method for recording sales discounts.
3. January 6, 2020: Paid in full for the 1,000 widgets received on January 2, 2020.
4. January 10, 2020: Customer returned 200 of the widgets sold and shipped on January 5, 2020. All items were in excellent condition and returned to inventory.
5. January 15, 2020: Received 2,500 widgets with unit cost of $90. Payment terms are net 30—no payment discount offered. Atlas Freight Company billed Widgets $250.00 for delivering the widgets and Widgets paid Atlas immediately.
6. Calculate the following for January 2020:
   1. Inventory quantity on hand and account balance at the end of the month
   2. Net Sales, Cost of Goods Sold and Gross Profit for January 2020

Based on Problem 10-6

Indigo Landscaping began construction of a new plant on December 1, 2020. On this date, the company purchased a parcel of land for $147,600 in cash. In addition, it paid $3,120 in surveying costs and $4,080 for a title insurance policy. An old dwelling on the premises was demolished at a cost of $3,120, with $960 being received from the sale of materials.

Architectural plans were also formalized on December 1, 2020, when the architect was paid $34,800. The necessary building permits costing $3,120 were obtained from the city and paid for on December 1 as well. The excavation work began during the first week in December with payments made to the contractor in 2021 as follows.

Compute the balance in each of the following accounts at December 31, 2020, and December 31, 2021.

To finance construction of this plant, Indigo borrowed $602,400 from the bank on December 1, 2020. Indigo had no other borrowings. The $602,400 was a 10-year loan bearing interest at 9%.

The building was completed on July 1, 2021.

Using Excel calculate the following (show your work and use formulas where appropriate):

1. Balance in the Land account for December 31, 2020 and December 31, 2021
2. The weighted average of accumulated expenditures for 2020
3. The amount of interest capitalized in 2020
4. The weighted average of accumulated expenditures for 2021
5. The amount of interest capitalized in 2021
6. Balance in the Building account for December 31, 2020 and December 31, 2021
7. Balance in the Interest Expense account for December 31, 2020 and December 31, 2021

Problem 4

As of December 31, 2020 Big USA Company owns a foreign subsidiary (Taco) based in Mexico. Big is in the process of preparing consolidated financial statements and must translate the trial balance of Taco to U.S. Dollars. Selected financial information of Taco in pesos is presented below.

                                                                                       Pesos

Inventory 12/31/20                                                  300,000

Purchases in 2020                                                    2,600,000

Inventory 12/31/19                                                    420,000

Equipment purchased as follows

            1/1/18                                                                        250,000                                   

            Purchases during 2018                                            150,000

            Purchases during 2019                                            350,000

            Purchases during 2020                                           620,000

All equipment is depreciated over 8 years on a straight-line basis with a full year taken in year of acquisition.

The inventory turnover rate is 90 days.

Relevant Exchange Rates                           Pesos per dollar

1/1/18                                                                                    8.0

Average Rates 2018                                                  8.5

Average Rate            2019                                                    9.3

Average Rate 2020                                                   9.8

Rate 4^thquarter 2019                                                            8.9

Rate 4^thquarter 2020                                                           9.6

Current rate 12/31/18                                                         8.9

Current Rate 12/31/19                                                        9.2

Current Rate 12/31/20                                                        9.9

REQUIRED (In US Dollars)

1. Assuming the U.S. Dollar is functional currency determine following

            Cost Goods Sold for 2020

            Balance in Equipment 12/31/20

            Balance in Accumulated Depreciation 12/31/20

            Depreciation Expense – 2020

2. Assuming the Peso is functional currency determine following

            Cost Goods Sold for 2020

            Balance in Equipment 12/31/20

            Balance in Accumulated Depreciation 12/31/20

            Depreciation Expense – 2020

The number of hours per week that the television is turned on is determined for each family in a sample. The mean of the data is 3535 hours and the median is 31.231.2 hours. Twenty-four of the families in the sample turned on the television for 2020 hours or less for the week. The 6^th percentile of the data is 2020 hours.

Step 2 of 5:

Approximately how many families are in the sample? Round your answer to the nearest integer.

The number of hours per week that the television is turned on is determined for each family in a sample. The mean of the data is 3535 hours and the median is 31.231.2 hours. Twenty-four of the families in the sample turned on the television for 2020 hours or less for the week. The 6^th percentile of the data is 2020 hours.

Step 3 of 5:

Based on the given information, determine if the following statement is true or false.

Approximately 200200 families turned on their televisions for less than 3535 hours.

The number of hours per week that the television is turned on is determined for each family in a sample. The mean of the data is 3535 hours and the median is 31.231.2 hours. Twenty-four of the families in the sample turned on the television for 2020 hours or less for the week. The 6^th percentile of the data is 2020 hours.

Step 4 of 5:

What is the value of the 50^th percentile?

The number of hours per week that the television is turned on is determined for each family in a sample. The mean of the data is 3535 hours and the median is 31.231.2 hours. Twenty-four of the families in the sample turned on the television for 2020 hours or less for the week. The 6^th percentile of the data is 2020 hours.

Step 5 of 5:

Based on the given information, determine if the following statement is true or false.

The first quartile is less than 2020 hours.

From a random sample of 75 business days from January 4, 2010, through February 24, 2017, Russian silver prices had a mean of $3,338.48 and σ=$205.61 was the population standard deviation of silver prices. Construct a 90% confidence interval for the true population mean µ and interpret this interval.

Using the data in the following​ table, estimate the average return and volatility for each stock.

Year Stock A Stock b

2008 -5% 15%

2009 19% 31%

2010 10% 4%

2011 -4% .5%

2012 3% -9%

2013 15% 23%

What is the variance of stock a? Stock b?

“Cola Wars Continue Coke and Pepsi in 2010,” use game theory approach/analysis to explain the competitive behavior of Coke and Pepsi making specific references to actions taken by each firm and the different “battlefields.” What conclusions can you draw about the competitive strategies pursued by both companies? Explain

The Patient Protection and Affordable Care Act (ACA) of 2010, or healthcare reform has had a great impact on the lives of patients, healthcare providers and investors. briefly describe the main provisions of healthcare reform and its implications for the practice of healthcare finance. What are some features of the ACA that affect healthcare insurance and reimbursement?