Larissa has been talking with the company’s directors about the future of East Coast Yachts. To this point, the company has used outside suppliers for various key components of the company’s yachts, including engines. Larissa has decided that East Coast Yachts should consider the purchase of an engine manufacturer to allow East Coast Yachts to better integrate its supply chain and get more control over engine features. After investigating several possible companies, Larissa feels that the purchase of Ragan Engines, Inc., is a possibility. Ragan Engines, Inc., was founded nine years ago by a brother and sister—Carrington and Genevieve Ragan—and has remained a privately owned company. The company manufactures marine engines for a variety of applications. Ragan has experienced rapid growth because of a proprietary technology that increases the fuel efficiency of its engines with very little sacrifice in performance. The company is equally owned by Carrington and Genevieve. The original agreement between the siblings gave each 150,000 shares of stock. Last year, Ragan had an EPS of $5.35 and paid a dividend to Carrington and Genevieve of $320,000 each. The company also had a return on equity of 21 percent. Larissa tells Dan that a required return for Ragan of 18 percent is appropriate.

Assuming the company continues its current growth rate, what is the value per share of the company’s stock? You must show all your works for the full credits.

Step 1: Find total earnings

Step 2: Find payout ratio

Step 3: Find retention ratio

Step 4: Find growth ratio

Step 5: Find total equity value

Step 6: Find value per share

Record entries from the transaction and event list provided below in proper journal entry format. Show your work if the entry requires you to make a calculation (i.e. depreciation, interest expense, etc.).

October

29. Your top sales officer met with a new customer to discuss a potential future contract. She informs you that the customer is considering signing the $200,000 deal, which would become effective February 2020. 6 ACCY1 Accounting Fundamentals Group Project

30. On October 1st, you purchased 11,250 units at the decreased price of $61 per unit. The purchase was made on account.

31. On October 10th you paid your supplier $132,000 cash for inventory purchased on account.

November 32.

November 1st, the CEO, in an effort to adjust ratios, ordered the repurchasing of the company’s own stock. The quantity of stock repurchased was 175,000 shares.

33. Purchased a three-year building insurance policy on November 1st for $442,000 cash. [Adjusting Entry Required]

34. On November 17th a customer pays you $450,000 for work that you will finish in January of 2020.

35. November 19th, your customers bought 8,650 units of your product at $110 per unit. The cost of this product is determined by the method of inventory valuation used by your company. Customers paid you 55% in cash and the remainder was on account.

36. An employment contract is signed with a new regional manager. You have offered him $150,000 per year. He will not begin working for the company until March 2020. December

37. Wages earned from July 1st through December 31st was $480,000. Wages earned between Dec. 15th and Dec 31st amounting to $27,500 was not paid this until Jan 7th.

38. At the end of the year, $42,000 cash was paid to the local bank for the long-term note payable taken out on January 1, 2019. $38,000 of this was applied to the loan principal. The remaining amount was the accumulated interest due for 2019.

39. On December 31st, the marketable (trading) securities you purchased on September 23, 2019 transaction now has a fair market value of $134,000.

40. On December 31st, $480,000 depreciation expense for the year was calculated for equipment purchased before January 1, 2019.

41. On December 31st, you declare dividends of $.32 per share to be paid at a later date.

42. On December 31st, the utility bill was paid for the year. The amount was $66,000 and you paid in cash.

43. On December 31st, you pay in cash recurring interest on the long-term note acquired prior to the year 2017. HINT: See prior year financial statements.

44. On December 31st, your company earned interest on the average 2019 cash balance which will be paid January 5th, 2020. The average interest rate for the year was 4.0%. Note: Compute the average cash using only the beginning and ending balance.

45. By December 31st, 85 of the prepaid service hours from March 20, 2019 were completed.

46. A count of office supplies indicated that $27,000 of office supplies had been used by December 31st.

47. Since the inception of your company, you have been able to collect 84% of your ending accounts receivable balance from customers that bought your product on account. Based on this information, adjust your allowance for bad debt account. NOTE: Use your 2019 ending accounts receivable balance to make this calculation.

A young man reflects on the delights of being in love, the disappointments of early career, and the decision to make a change.
In the course of our courting, there were frisbees-a-flying, beers-a-flowing, big bad barbeques, and more than a smattering of smooching and cuddles. Being together was easy and always.
We married in 1997, healthy, happy, and excited about our lives. All that we wanted was to be together and continue the fun and goofiness that attracted us to each other in the first place. Simple enough, seeing that we were getting married and all, right?
Change from 1998–2007 included such delights as increased pant sizes, long work hours, more doctor visits, decreased intimacy, a slump in the fun fund, fewer hours together, lack of peaceful sleep, lack of creative endeavors, and an increase in mindless spending, just to name a few.
What the hell happened during this nine year black hole of productivity, progress, and pleasure? Work happened. Two crappy jobs that we allowed to suck the life right out of us.
Fun, where ever did you go?
Mornings were filled with sullen grunts, brooding silences, sick heads and stomachs, and occasional weeping. Yes, even that. Evenings were a noxious mixture of prickliness and anxiety with the additional strain of trying to show love in the absence of the resources to make it so. The night was all tossing and turning with our minds running and repeating disturbing scenarios of the following day despite total exhaustion.

Finally, we admitted that we were very unhappy apart from each other, so we quit and opened our own guitar studio.
Sullen morning grunts became laughter and five mile walks. The death defying and lonely commute became an animated discussion or business meeting on the way to the studio. Our commute now enjoyed together. Incompetent coworkers became employees of the month – every month. We really did hang an award on the wall of the studio too. Work hours got slashed by 50%. Evenings became filled with conversation, reading, and excitement over our tasty vittles. I can feel the excitement over the changes even now as I write and relive the lifting of the immense burdens of the past! Before we sleep, there is usually one more fit of giggles about some asinine thing we said or did. And night time now was filled with blissful, peaceful, complete, high-quality sleep – oblivion.
We wanted and got our time together back. And now that we have it, we clench it in our jaws like a rabid Tasmanian devil with a chip on its striped shoulder. And fun has returned screaming with vengeance.

1) What are some of the challenges that this individual is facing?

2) Knowing these challenges associated with trajectories and transitions evaluate the developmental crisis and implications for an individual facing the psycho-social crisis of intimacy versus isolation.

On December 31, 2018, Fax Company Inc., had the following Shareholder Equity balances:

Preferred Shares $400,000

Common Shares $750,000

Retained Earnings 1,200,000

Contributed Surplus 150,000

Accumulated Other Comprehensive Income 75,000

During 2019, the following took place:

Fax Company Inc earned net income of $175,000 and paid cash dividends in the amount of $45,000 on its common shares.

In addition, the company declared a cash dividend in the amount of $30,000 on its preferred shares.

Also during 2019, XYZ experienced an unrealized foreign exchange gain of $25,000 upon translation of its foreign subsidiary's results.

Required

In good form, prepare a Statement of Changes in Equity for Fax Company Inc. for 2019.

1.The revenue recognition standard, Revenue from Contracts with Customers, states a specific approach should be used by companies to recognize revenue. The standard:

a.Requires an asset-liability approach because an asset or a liability may stem from the terms of the contract and measuring the change in the asset or liability over the life of the contract results in a disciplined approach to measuring and recognizing revenue.

b.Requires an earned-realized approach because the contract will result in revenue being earned and the collection of payment from the customer will result in the realization of the earned revenue.

c.Requires companies to recognize revenue by using a liability-equity approach because a contract results in a company’s promise to perform a service and the company reports that promise as a liability until the service is completed. Further, a company’s equity is increased because net income is closed to retained earnings.

d.Requires companies to recognize revenue by using an asset-equity approach because revenue typically results in an increase in assets through the collection of cash or recognition of accounts receivable and an increase in equity through the closing of net income to retained earnings.

2. Which type of transaction generally results in revenue being recognized with the passage of time?

3. Mars Corporation uses the percentage-of-completion method. At the end of the first year of a $9,000,000 contract, the following information is available:

In the first year, Mars should recognize gross profit of

4. Mars Corporation uses the completed-contract method. At the end of the first year of a $9,000,000 contract, the following information is available:

In the first year, Mars should recognize gross profit of

5. At the end of the first year of a $9,000,000 contract, Mars Corporation provides the following information:

In the first year, Mars should recognize gross profit (loss) of

3. NJ wants to attract businesses to move to NJ from other states. It offers firms a tax break on profits earned in NJ over the next 10 years. How could you empirically test whether this tax break has any effect?

In a recent survey of 60 randomly selected college students, 43 said that they believe in the existence of extraterrestrial life. a) Find p?, the sample proportion that believes that there is extraterrestrial life. (Round your answers to three decimal places). p? = b)The 99 % margin of error associated with this estimate is: c) The 99 % confidence interval for the true proportion of all college students who believe there is extraterrestrial life is: to d) A recent report suggests the proportion of general US population who believe in extraterrestrial life is 0.47. Choose the appropriate null and alternative hypothesis that tests whether the proportion of college students who believe in extraterrestrial life in greater than the general population? H0: p = 0.47 Ha: p ? 0.47 H0: x = 0.47 Ha: x > 0.47 H0: p = 0.47 Ha: p > 0.47 H0: p? = 0.47 Ha: p? > 0.47 H0: ? = 0.47 Ha: ? ? 0.47 e) Calculate the z test statistic and p-value. (Round the test statistic to two decimal places and the p-value four decimal places). z = p-value = f) Based on the p-value, give a conclusion in terms of the alternative. There is suggestive, but inconclusive evidence that the proportion of college students who believe in extraterrestrial life is greater than 0.47. There is convincing evidence that the proportion of college students who believe in extraterrestrial life is greater than 0.47. There is moderately suggestive evidence that the proportion of college students who believe in extraterrestrial life is greater than 0.47. There is no evidence that the proportion of college students who believe in extraterrestrial life is greater than 0.47.

Psy. 230 T-tests  

present the 5-step hypothesis process, enter data into SPSS to obtain the SPPS outputs, and identify the results using the correct APA statement format, including implications. Don't forget to include:

• stating your null hypothesis, alternate hypothesis, defining the critical regions, and drawing out your critical regions in a t-distribution.
• your SPSS outputs.
• reporting the descriptive statistics for each group, the t-statistic, df, p-value, and confidence intervals.
• showing your effect size calculations, including an interpretation of what the effect size 'means'.
• reporting whether the differences between the conditions/ groups was/was not significant. Present your findings in a narrative and include tables, if appropriate.    
• a few sentences about what the results from this study means and its implications.

Individuals may work together, but each individual must submit their own findings and implications (your wording should be different than your group members.) If you work in a group or with others, include the names of your group members on your paper.  

Problem #1

Research examining the effects of preschool childcare has found that children who spent time in day care, especially high-quality day care, perform better on math and language tests than children who stay home with their mothers. In a typical study, a research obtains a sample of n=10 children who attended day care before starting school. The children are given a standardized math test for which the population mean is 50. The scores for the sample are as follows: 53, 57, 61, 49, 52, 56, 58, 62, 51, 56. Is this sample sufficient to conclude that the children with a history of preschool day care are significantly different from the general population? Use a two-tailed test with an alpha=.01.

BOR CPAs, Inc. is a closely held corporation owned by three stockholders who used the initials of their last names to form the corporation’s name: Cyrus Bailey, John Ogden, and Samuel Rogers. The firm’s Certified Public Accountants (CPAs) perform audits of both public companies and privately owned companies. BOR’s CPAs also provide tax services to both individuals and businesses.

The corporation is divided into two profit centers: the Audit Division and the Tax Division. Each division is composed of two cost centers. The Audit Division is composed of two cost-center departments: Public Company Audits and Private Company Audits. The Tax Division is composed of two cost-center departments also: Individual Tax and Business Tax.

BOR, a decentralized organization, is interested in evaluating the performance of the two divisions. The stockholders are responsible for deciding on investment in the two divisions. Cyrus Bailey is in charge of the performance evaluation, and turns to you for assistance. Mr. Bailey is only interested in evaluating operations at the profit center (division) level, and not at the cost center (department) level.

Mr. Bailey is considering temporarily using some of the staff from the Tax Division to assist the Audit Division during the upcoming busy audit season, and would like to evaluate the effect of this on net income. The Tax Division is estimated to have 800 hours of excess capacity.

The unit for determining sales revenue in both divisions is the "engagement", which means the total agreed-upon work for a given client in either audit or tax for a given year. The company charges on average a fee of $75,000 per audit engagement, and $15,750 per tax engagement.

The company has its own Payroll Office, which provides payroll services to both divisions and will allocate its total expenses to the two divisions as service department charges.

The following chart shows some basic data for the company:

Payroll

Mr. Bailey would like you to start by analyzing the Payroll Office expenses, and allocating the total expenses to each division. He has decided to use the number of payroll checks as the activity base for the allocation.

Fill in the following blanks, allocating the total expense for the Payroll Office to each of the two divisions.

No Transfer

Mr. Bailey has prepared the following divisional income statement for you to review, assuming no transfer of excess capacity hours occurs. He has also included the total amounts for BOR CPAs, Inc. in the rightmost column.

Complete the following Income Statements with your data from the Payroll panel. Enter all amounts as positive numbers.

Market Transfer Price

Mr. Bailey asks that you prepare Divisional Income Statements showing what 20Y1 results would have been had the Audit Division purchased all the excess capacity of the Tax Division, using a market transfer price. The divisional managers tell you that, with the excess capacity of the Tax Division of 800 hours, the Audit Division can perform 4 more audits during the year, and the Tax Division would charge the Audit Division the market rate of $100.00 per hour for the additional hours required, selling all its excess capacity to the Audit Division. The Tax Division would still be responsible for paying the salaries of their employees.

Complete the following Income Statements. Enter all amounts as positive numbers. If there is no amount or an amount is zero, enter “0”.

Negotiated Transfer Price

Mr. Bailey asks that you prepare Divisional Income Statements showing what 20Y1 results would have been had the Audit Division purchased all the excess capacity of the Tax Division, using a negotiated transfer price. The divisional managers tell you that, with the excess capacity of the Tax Division of 800 hours, the Audit Division can perform 4 more audits during the year, and the Audit Division would agree to a negotiated rate of $90.00 per hour to be paid to the Tax Division for the additional hours required, with the Tax Division selling all its excess capacity to the Audit Division. The Tax Division would still be responsible for paying the salaries of their employees.

Complete the following Income Statements. Enter all amounts as positive numbers. If there is no amount or an amount is zero, enter “0”.

Cost Transfer Price

Mr. Bailey asks that you prepare Divisional Income Statements showing what 20Y1 results would have been had the Audit Division purchased all the excess capacity of the Tax Division, using a cost transfer price. The divisional managers tell you that, with the excess capacity of the Tax Division of 800 hours, the Audit Division can perform 4 more audits during the year, and the Audit Division would pay the Tax Division's internal hourly rate of $60.00 per hour for the additional hours required, with the Tax Division selling all its excess capacity to the Audit Division. The Tax Division would still be responsible for paying the salaries of their employees.

Complete the following Income Statements. Enter all amounts as positive numbers. If there is no amount or an amount is zero, enter “0”.

Analysis

You are now able to put together all the information you’ve collected and analyze the data. In the following table, “ROI” stands for “Return on Investment.”

Complete the following tables using the information from the other panels and selection lists provided.