programmer closed innovation collective after 2010 before 2020 questions

Questions

Michael Jordan Earned $30,100,000 playing for the Chicago Bulls in 1997. In 1997 the CPI was...

Michael Jordan Earned $30,100,000 playing for the Chicago Bulls in 1997. In 1997 the CPI was equal to 1.60. In 2020 LeBron James earned $37,400,000 playing for the Los Angeles Lakers. The CPI in 2020 is equal to 2.58. Calculate the real wage for Micheal Jordan in 1997 and Lebron James in 2020.

Please enter your answers as numeric answers rounded to the nearest dollar with no decimals (ie. 15,553,342 or $10,432,675 not $15,553,341.73 or $10,432,675.2). Because these will be large numbers it is a good idea to use commas to separate millions, thousands, and hundreds.

What was the real wage for Michael Jordan in 1997?

What is the real wage for LeBron James in 2020?

In: Economics

Question) Mikakos Ltd is an Australian company that purchases inventories (PPE) from Shultz AG, which is...

Question)

Mikakos Ltd is an Australian company that purchases inventories (PPE) from Shultz AG, which is a German company. The most recent acquisition involved the acquisition of inventories for 150,000 pounds with contract terms including FOB shipping point. Credit dates are:

Date Event Exchange Rate

1 May 2020 Inventories Ordered A$1= 0.55 pounds

11 May 2020 Inventories shipped A$1= 0.58 pounds

30 June 2020 End of reporting period A$1= 0.60 pounds

31 July 2020 Payment A$1= 0.64 pounds

Required: Prepare the journal entries for Mikakos Ltd to record this transaction.

In: Accounting

Comprehensive Accounting Cycle Review 15.ACR Quigley Corporation's trial balance at December 31, 2020, is presented below. All...

Comprehensive Accounting Cycle Review

15.ACR Quigley Corporation's trial balance at December 31, 2020, is presented below. All 2020 transactions have been recorded except for the items described below.

	Debit	Credit
Cash	$ 25,500
Accounts Receivable	51,000
Inventory	22,700
Land	65,000
Buildings	95,000
Equipment	40,000
Allowance for Doubtful Accounts		$ 450
Accumulated Depreciation—Buildings		30,000
Accumulated Depreciation—Equipment		14,400
Accounts Payable		19,300
Interest Payable		-0-
Dividends Payable		-0-
Unearned Rent Revenue		8,000
Bonds Payable (10%)		50,000
Common Stock ($10 par)		30,000
Paid-in Capital in Excess of Par—Common Stock		6,000
Preferred Stock ($20 par)		-0-
Paid-in Capital in Excess of Par—Preferred Stock		-0-
Retained Earnings		75,050
Treasury Stock	-0-
Cash Dividends	-0-
Sales Revenue		570,000
Rent Revenue		-0-
Bad Debt Expense	-0-
Interest Expense	-0-
Cost of Goods Sold	400,000
Depreciation Expense	-0-
Other Operating Expenses	39,000
Salaries and Wages Expense	65,000
Total	$803,200	$803,200

Unrecorded transactions and adjustments:

1.On January 1, 2020, Quigley issued 1,000 shares of $20 par, 6% preferred stock for $22,000.
2.On January 1, 2020, Quigley also issued 1,000 shares of common stock for $23,000.
3.Quigley reacquired 300 shares of its common stock on July 1, 2020, for $49 per share.
4.On December 31, 2020, Quigley declared the annual cash dividend and a $1.50 per share dividend on the outstanding common stock, all payable on January 15, 2021.
5.Quigley estimates that uncollectible accounts receivable at year-end is $5,100.
6.The building is being depreciated using the straight-line method over 30 years. The salvage value is $5,000.
7.The equipment is being depreciated using the straight-line method over 10 years. The salvage value is $4,000.
8.The unearned rent was collected on October 1, 2020. It was the receipt of 4 months' rent in advance (October 1, 2020 through January 31, 2021).
9.The 10% bonds payable pay interest every January 1. The interest for the 12 months ended December 31, 2020, has not been paid or recorded.

Instructions

(Ignore income taxes.)

(c)

Prepare a multiple-step income statement for the year ending December 31, 2020.

(d)

Prepare a retained earnings statement for the year ending December 31, 2020.

(e)

Prepare a classified balance sheet as of December 31, 2020.

Total assets $273,400

In: Accounting

Bonita Inc. had the following long-term receivable account balances at December 31, 2019. Note receivable from...

Bonita Inc. had the following long-term receivable account balances at December 31, 2019.

Note receivable from sale of division		$2,400,000
Note receivable from officer		481,900

Transactions during 2020 and other information relating to Bonita’s long-term receivables were as follows.

1.		The $2,400,000 note receivable is dated May 1, 2019, bears interest at 9%, and represents the balance of the consideration received from the sale of Bonita’s electronics division to New York Company. Principal payments of $800,000 plus appropriate interest are due on May 1, 2020, 2021, and 2022. The first principal and interest payment was made on May 1, 2020. Collection of the note installments is reasonably assured.
2.		The $481,900 note receivable is dated December 31, 2019, bears interest at 8%, and is due on December 31, 2022. The note is due from Sean May, president of Bonita Inc. and is collateralized by 12,048 shares of Bonita’s common stock. Interest is payable annually on December 31, and all interest payments were paid on their due dates through December 31, 2020. The quoted market price of Bonita’s common stock was $44 per share on December 31, 2020.
3.		On April 1, 2020, Bonita sold a patent to Pennsylvania Company in exchange for a $102,000 zero-interest-bearing note due on April 1, 2022. There was no established exchange price for the patent, and the note had no ready market. The prevailing rate of interest for a note of this type at April 1, 2020, was 12%. The present value of $1 for two periods at 12% is 0.797 (use this factor). The patent had a carrying value of $40,800 at January 1, 2020, and the amortization for the year ended December 31, 2020, would have been $8,160. The collection of the note receivable from Pennsylvania is reasonably assured.
4.		On July 1, 2020, Bonita sold a parcel of land to Splinter Company for $200,000 under an installment sale contract. Splinter made a $60,000 cash down payment on July 1, 2020, and signed a 4-year 11% note for the $140,000 balance. The equal annual payments of principal and interest on the note will be $45,125 payable on July 1, 2021, through July 1, 2024. The land could have been sold at an established cash price of $200,000. The cost of the land to Bonita was $150,000. Circumstances are such that the collection of the installments on the note is reasonably assured. *Prepare a schedule showing the current portion of the long-term receivables and accrued interest receivable that would appear in Bonita’s balance sheet at December 31, 2020.*

In: Accounting

B. Permeability of starch and iodine Data table: Color of starch solution in bag at start...

B. Permeability of starch and iodine

Data table:

Color of starch solution in bag at start of experiment	Weight of bag (containing starch solution) at start of experiment	Weight of bag after 30 minutes	Color of solution in bag after 30 minutes	Color of solution in beaker after 30 minutes	Weight of bag after 45 total minutes	Color of solution in bag after 45 total minutes	Color of solution in beaker after 45 total minutes
Cloudy	24.5 grams	26.1 grams	Dark blue	Light brown	27.3 grams	Dark blue	Light brown

Based on your results, you can tell that the pores in the dialysis tubing are

( larger or smaller ) than the size of molecule of I₂KI. Explain your answer using your results.

Based on your results, you can tell that the pores in the dialysis tubing are

( larger or smaller ) than the size of molecule of starch. Explain your answer using your results.

Describe the results of the weight of the tubing before and after the incubation period. What does this result illustrate about the ability of starch to pass through the pores of the dialysis tubing?

In: Biology

The following selected transactions relate to investment activities of Ornamental Insulation Corporation during 2021. The company...

The following selected transactions relate to investment activities of Ornamental Insulation Corporation during 2021. The company buys debt securities, not intending to profit from short-term differences in price and not necessarily to hold debt securities to maturity, but to have them available for sale in years when circumstances warrant. Ornamental’s fiscal year ends on December 31. No investments were held by Ornamental on December 31, 2020.

Mar.	31	Acquired 5% Distribution Transformers Corporation bonds costing $600,000 at face value.
Sep.	1	Acquired $1,200,000 of American Instruments’ 7% bonds at face value.
Sep.	30	Received semiannual interest payment on the Distribution Transformers bonds.
Oct.	2	Sold the Distribution Transformers bonds for $645,000.
Nov.	1	Purchased $1,600,000 of M&D Corporation 3% 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	$	1,130,000
M&D Corporation bonds	$	1,680,000

(Hint: Interest must be accrued.)

Required:
1. Prepare the appropriate journal entry for each transaction or event during 2021, as well as any adjusting entries necessary at year end. For any sales, prepare entries to update the fair-value adjustment, record any reclassification adjustment, and record the sale.
2. Indicate any amounts that Ornamental Insulation would report in its 2021 income statement, 2021 statement of comprehensive income, and 12/31/2021 balance sheet as a result of these investments. Include totals for net income, comprehensive income, and retained earnings as a result of these investments.

Journal entry worksheet

Record the acquisition of 5% Distribution Transformers Corporation bonds costing $600,000 at face value.