Consider a firm with a plant in the U.S. and Canada. A​ U.S.-based shipper charges​ $1.00 per unit to ship between the two countries. Assume no taxes and consider the following data.

​a. Suppose that the exchange rate is​ Can$1.00 (Canada)​ = $0.76​ (U.S.). What is the best production and distribution​ plan, i.e., how much should be made in each​ country, and how much should be shipped between​ countries?

​(Please, enter your answers as a​ whole​ number).

The U.S. production is

Canada production is

units should be shipped between countries.

​b. Given your plan in part​ a, what is the profit in each country  ​(expressed in

​dollars)​?

Profit in the U.S.​ =

Profit in Canada​ =

Sociological Imagination

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Apply the sociological imagination to any of the following U.S. social problems to explain why your chosen problem exists. In your response, you must thoroughly describe at least two explanations that are in the context of the sociological imagination. Make sure you demonstrate correct knowledge of this concept and your ability to critically apply the concept to your chosen problem:

a) Why does the U.S. have some of the highest rates of obesity in the world?
b) Why has the U.S. violent crime rate declined over time?
c) Why are racial/ethnic minority women in the U.S. more likely to experience premature births?
d) Why is the U.S. one of the most religiously diverse countries in the world?
e) Why do U.S. boys tend to outscore girls on standardized tests if girls' school performance is better than that of boys?

Forte Inc. produces and sells theater set designs and costumes. The company began operations on January 1, Year 1. The following transactions relate to securities acquired by Forte Inc., which has a fiscal year ending on December 31:

Record these transactions on page 10:

Record these transactions on page 11:

Forte Inc. produces and sells theater set designs and costumes. The company began operations on January 1, Year 1. The following transactions relate to securities acquired by Forte Inc., which has a fiscal year ending on December 31:

Record these transactions on page 10:

Record these transactions on page 11:

Problem 12-6

During 2015, Crane Company purchased a building site for its proposed research and development laboratory at a cost of $54,000. Construction of the building was started in 2015. The building was completed on December 31, 2016, at a cost of $360,000 and was placed in service on January 2, 2017. The estimated useful life of the building for depreciation purposes was 20 years. The straight-line method of depreciation was to be employed, and there was no estimated residual value.

Management estimates that about 50% of the projects of the research and development group will result in long-term benefits (i.e., at least 10 years) to the corporation. The remaining projects either benefit the current period or are abandoned before completion. A summary of the number of projects and the direct costs incurred in conjunction with the research and development activities for 2017 appears below.

Upon recommendation of the research and development group, Crane Company acquired a patent for manufacturing rights at a cost of $120,000. The patent was acquired on April 1, 2016, and has an economic life of 10 years.

If generally accepted accounting principles were followed, how would the items above relating to research and development activities be reported on the following financial statements?

The company’s income statement for 2017. (Do not round intermediate calculations and round final answer to 0 decimal places, e.g. 5,275.)

Crane Company

Income Statement (Partial)

The North Central Water Company has finalized its financial statements for the 2019 financial year. The Company's board of directors has asked you, their cost accountant, to look at the financial results and to compare the financial performance for the 2019 fiscal year to the results of the 2018 financial year. The board would also like you to project the revenues and expenses for the 2020 financial year based on several key assumptions. They have asked you to submit an excel file containing the financial results and budget projections as well as a one page memorandum of your findings.

Financial Results:

Total Number of Customers       26,000 25,000

2019    % of Total Revenues   2018    % of Total Revenues

Revenues:

Water Sales $1,162,000 ? $1,200,000 ?

Late Fees 87,000 ? 68,000 ?

Fire Hydrant Fees    114,500 ? 122,000 ?

  Total Revenues $1,363,500 100% $1,390,000 100%

Expenses:

Cost of Water Sold $512,000 ? $278,000 ?

Payroll Expense 608,000 ? 450,000 ?

Overhead Expense 292,050 ?    200,000 ?

Miscellaneous Expenses 64,075. ? 78,000    ?

   Total Expenses $1,476,125 ? $1,006,000    ?

Net Income (Loss) <$112,625> ?    $ 384,000 ?

I. Excel Analysis (Please submit your answers with the excel file provided for you in Ilearn entitled "North Central Financial Results- Student Copy".

Based on the financial results provided above, complete the excel spreadsheet file provided to you and submit your file in Ilearn. Please include include your name in the filename.

.

Required:

1. Calculate each revenue and expense item as a percentage of total revenues in 2019 and 2018 (show percentages out to TWO decimal places for all revenues and expenses, but round total revenue's percentage to ZERO decimal places- see examples in spreadsheet).

2. Calculate the water sales per customer for 2019 and 2018 (show number out to TWO decimal places- see example in spreadsheet).

3. Calculate the company's budgeted financial performance for 2020 based on the assumptions listed below for each revenue and expense item. Then calculate each item as a percentage of total revenues just like you did for 2019 and 2018. Then calculate the water sales per customer for 2020 just as you did for 2019 and 2018- see examples in spreadsheet.

4. Finally, calculate the differences in each revenue and expense item between 2020 and 2019, and 2019 and 2018- see example in spreadsheet. This will provide you with some insight about the year-to-year changes and help you with your business memo which is the second part of this project.

You must use formulas in the excel spreadsheet rather typing-in calculated numbers to get

full credit. You will also run into rounding errors unless you use formulas. Some formulas

and calculated numbers have already been included in the spreadsheet to help you. YOU

SHOULD HAVE AN ANSWER WHEREVER YOU SEE A QUESTION MARK (?)

ASSUMPTIONS:

Assume that the water company expects that in 2020:

a. The number of customers will increase by 5%.

b. Water sales will increase by 4% and late fees will increase by 1% due to increased customer demand.

c. Hydrant fees will decrease by 1% because several older hydrants will be taken out of service.

d. The cost of water sales will increase by 8% because of higher chemical costs.

e. Payroll expenses will increase by 5.5% due to wage increases and higher medical

insurance expenses.

f. Overhead expense will decrease by 4% because of efforts to reduce costs.

g. Miscellaneous expenses are expected to double because of the purchase of building supplies in anticipation of a major waterline project in 2020.

Here are some check figures to help you out:

2020 Total Revenue=1,409,705

2020 Total Expense=1,602,918

2020 Water Sales per customer= $44.27

Total Income<loss> 2020 vs 2019= <$80,588>

Total Income<loss> 2019 vs 2018=<$496,625>

Total Income <loss> as a percentage of total revenue in 2020=-13.71% Total Income <loss> as a percentage of total revenue in 2019=-8.26%

Carla Vista Corp.’s net income for 2020 is $140,600. The only potentially dilutive securities outstanding were 1,000 call options issued during 2019, with each option being exercisable for one share at $16. None have been exercised, and 28,700 common shares were outstanding during 2020. The average market price of the company’s shares during 2020 was $20.

QUESTIONS:

A) Calculate diluted earnings per share for the year ended December 31, 2020.

B) Assuming that the 1,000 call options were instead issued on November 1, 2020 (rather than in 2019), calculate diluted earnings per share for the year ended December 31, 2020. The average market price during the last two months of 2020 was $20.

On 1 March 2020, goods valuing $1000 were bought from Mr. D.

On 15 March 2020, goods, valued at $200, returned to Mr. D .

On 1 May 2020, goods for $2000 were sold to Mr. E.

On 15 May 2020, Mr. E returned goods, valued at $500, to the business.

On 1 June 2020, goods, valued at $600, were bought from Mr. Z on credit.

On 15 June 2020, the due amount of $800 was paid to Mr. D through cheque.

On 15 July 2020, the due amount of $1500 was received from Mr. E through cheque.

Draw the T account of Purchases, Sales, Mr. D, Mr. E, Return inwards, Return outwards, Mr. Z and Bank.