What is the SOCIAL MEDIA AND FAKE NEWS IN THE 2016 Election Alternative assumptions?
No HandWriting ?
In: Operations Management
Explain how ASU 2016-1 affect congruence between GAAP and IFRS
In: Accounting
Cronos issues $3,000,000, 7.6%, 10-year bonds to yield 8% on January 1, 2016. Interest is paid on June 30 and Cronos issues $3,000,000, 7.6%, 10-year bonds to yield 8% on January 1, 2016. Interest is paid on June 30 and December 31. The proceeds from the bonds are $2,918,468. Using effective-interest method of amortization,
what will the carrying value of bonds be on the December 31, 2017 balance sheet?
In: Accounting
On January 1, 2016, Domino Incorporated provides a loan to Jon Jon Associates in return for a $5,000,000, 3 year, 5% interest note maturing on December 31, 2018. The normal borrowing rate for Jon Jon is 8%.
1. Prepare the journal entry to record the note receivable
2. Prepare an amortization table using the effective interest method
3. Prepare the journal entries to record the interest revenue in 2016, 2017, & 2018 for Domino
In: Accounting
(Related to Checkpoint 4.3) (Analyzing Profitability) In 2016. the Allen Corporation had sales of $62 million, total assets of $48 million, and total liabilities of S22 million. The interest rate on the company's debt is 6.1 percent. and its tax rate is 35 percent. The operating profit margin is 14 percent.
a. Compute the firm's 2016 net operating income and net income.
b. Calculate the firm's operating return on assets and return on equity.
In: Accounting
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At the beginning of 2014, Robotics Inc. acquired a manufacturing facility for $12.6 million. $9.6 million of the purchase price was allocated to the building. Depreciation for 2014 and 2015 was calculated using the straight-line method, a 25-year useful life, and a $1.6 million residual value. In 2016 the company switched to the double-declining-balance depreciation method. |
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What is depreciation on the building for 2016? (Do not round intermediate calculations. Enter your answer in whole dollars.) |
In: Accounting
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Modern Products Company purchased new packaging equipment for $262,000 on January 1, 2016. The equipment is expected to be used for 5 years, or 66,000 operating hours. It has an estimated salvage value of $1,000. The equipment was used for 13,200 hours in 2016, 19,800 hours in 2017, and 16,500 hours in 2018. |
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Compute annual depreciation expense for the first three years, using the straight-line method, the double-declining balance method, and the units of output method |
In: Accounting
§Investor A, a single individual, has $200,000 of taxable income in 2014, 2015 and 2016 before his investment in Entity X. Entity X has an end of year loss in 2014 and 2015 of ($50,000) per year and has profits in 2016 of $300,000.
§What is the tax savings or tax costs on Entity X losses and profits if X is a
a) Pass-through entity?
b) C Corporation?
§Assume 35% tax rate for pass through entity.
In: Accounting
Alpha Company uses the straight-line method for amortization of all bond premium & discounts. During fiscal year 2016 Alpha had the following bond payable transactions: January 2, issued ten, $1,000 bonds at 101 1/2. These 5-year bonds are dated January 1, 2016. The contract interest rate is 6%. Interest is payable semi-annual on January 1 and July 1. July 1, Alpha issued $500,000 of 10%, 10-year bonds. The bonds are dated January 1, 2016 were issued at 98 1/2, and pay interest on July 1 and January 1. June 30, Alpha issued 10-year bonds $10,000 face value bonds at 104. The bonds have a stated rate of 8%. Interest is payable on June 30 and December 31. Use this information to prepare General Journal entries, without explanations, for the three bonds issued and any interest accruals and payments for the fiscal year 2016. Three 12/31/16 transaction dates are provided for the fiscal year accruals. One for each individual bond issue. (Round all calculations to nearest whole dollar.)
In: Accounting
At year-end 2015, Wallace Landscaping’s total assets were $2.17 million, and it accounts payable worth $560,000. Sales, which in 2015 were worth $3.5 million, are expected to increase by 35% in 2016. Total assets and accounts payable are proportional to sales, and that relationship will be maintained. Wallace typically uses no current liabilities other than accounts payable. Common stock amount to $625,000 and in 2015, and other retained earnings were $395,000. Wallace has arranged to sell $195,000 dollars of new common stock in 2016 to meet some of its financing needs. The remainder of his financing needs will be met by issuing new long-term debt the end of 2016. (Because the data is added at the end of the year, there will be no additional interest expense due to the new debt). It’s that profit margin on sales is 5%, and 45% of earnings will be paid out as dividends. (A.) What were Wallace’s long-term debt and total liabilities in 2015? (B.) How much new long-term debt financing will be needed in 2016? (Hint: AFN - new stock = new long-term debt).
Answer for A is $590,000 and $1,150,000-- and B is $238,563. I need to know how you get those answers please.
In: Finance