1. What is the principal treatment for patients with open-angle glaucoma and the types of drugs used to control IOP?

2. What are signs and symptoms of glaucoma and appropriate nursing interventions.

3. A patient comes to the emergency department (ED) complaining of sudden headache, blurred vision, eye pain, and halos seen around white lights. He denies previous treatment of this problem. He states that he hit his head yesterday while fixing a bathroom sink. The nurse triages the patient and sends him immediately to the ED for further evaluation by the health care provider. What type of assessment should the nurse perform on this patient? Why does the nurse evaluate this patient’s complaint as a true emergency?

4. A patient with acute closed-angle glaucoma is prescribed IV mannitol, an analgesic, and an antiemetic. What should the nurse caring for the patient look for after the mannitol is administered? Why did the health care provider order an analgesic and antiemetic? What type of environment should the nurse set up for this patient?

Raleigh Department Store uses the conventional retail method for the year ended December 31, 2019. Available information follows:

1. The inventory at January 1, 2019, had a retail value of $50,000 and a cost of $36,200 based on the conventional retail method.
2. Transactions during 2019 were as follows:

Sales to employees are recorded net of discounts.

3. The retail value of the December 31, 2020, inventory was $104,325, the cost-to-retail percentage for 2020 under the LIFO retail method was 70%, and the appropriate price index was 107% of the January 1, 2020, price level.
4. The retail value of the December 31, 2021, inventory was $53,350, the cost-to-retail percentage for 2021 under the LIFO retail method was 69%, and the appropriate price index was 110% of the January 1, 2020, price level.

Required:
3. Assume Raleigh Department Store adopts the dollar-value LIFO retail method on January 1, 2020. Estimating ending inventory for 2020 and 2021.

QUESTION 2

1. Noor Corp.'s statements of financial position at December 31, 2020 and 2019 and information relating to 2020 activities are presented below:

       December 31, ___

      2020                       2019

   Assets

            Cash.............................................................................................    $ 110,000               $ 50,000

            Temporary investments.................................................................          150,000                            —

            Accounts receivable (net)..............................................................          255,000                255,000

            Inventory......................................................................................       345,000                300,000

            Long-term investments..................................................................       100,000                150,000

            Property, plant and equipment......................................................      850,000                500,000

            Accumulated depreciation............................................................       (225,000)             (225,000)

            Goodwill.......................................................................................             45,000                   50,000

                      Total assets............................................................................   $ 1,630,000         $ 1,080,000

   Liabilities and Shareholders' Equity

            Accounts payable..........................................................................       $ 415,000             $ 360,000

            Long-term note payable................................................................          145,000                            —

            Common shares............................................................................          600,000                475,000

            Retained earnings.........................................................................          470,000                245,000

                      Total liabilities and shareholders' equity................................   $ 1,630,000         $ 1,080,000

   Other information relating to 2020 activities:

   1.      Net income was $ 375,000.

   2.      Cash dividends of $ 150,000 were declared and paid.

   3.      Equipment costing $ 250,000, with a book value of $ 80,000, was sold for $ 90,000.

   4.      A long-term investment was sold for $ 80,000. There were no other transactions affecting long-term investments.

   5.      5,000 common shares were issued for $ 25 a share.

   6.      Temporary investments consist of treasury bills maturing on June 30, 2020

   Required

   A. Calculate the cash used in investing activities in 2020

   B. Calculate the cash provided by financing activities in 2020

1.

a) Anaylze the flow of units:

b) Compute equivalent units:

c)Compute the per units:

d)The value of Goods-inProcess in the cutting Department on 1/31/2020:

e)The value of Goods-In-Process transferred to the Stiching Department is:

On March 1, 2020, Reed hired a contractor to construct a new office building. The construction work commenced on April 1, 2020, and it is expected to continue through July 31, 2022, the estimated completion date. Reed made progress payments to the contractor in 2020 as follows:

As stated in A5 above, Reed took a 1-year, 9%, $225,000 construction loan to help fund the work on this project. The company also has a 6-year, 5%, $559,165 loan that is not related to the construction project. Give the adjusting entry needed at December 31, 2020 to record the capitalization of interest for this project.

(A5)The Notes Payable balance of $784,165 results from two loans the company has taken. On September 1, 2019, Reed took a 6-year, 5%, $559,165 loan. The interest on this loan is payable annually, on each August 31. Also, on April 1, 2020, Reed took a 1-year, 9%, $225,000 construction loan (see A7 below). The interest on the construction loan is payable on the loan’s maturity date, March 31, 2021. (Note – Reed already recorded the interest paid on these loans in 2020. For this adjustment, consider any accrued interest on the loans at the December 31, 2020 reporting date.)

Ayayai Windows manufactures and sells custom storm windows for three-season porches. Ayayai also provides installation service for the windows. The installation process does not involve changes in the windows, so this service can be performed by other vendors. Ayayai enters into the following contract on July 1, 2020, with a local homeowner. The customer purchases windows for a price of $2,480 and chooses Ayayai to do the installation. Ayayai charges the same price for the windows irrespective of whether it does the installation or not. The customer pays Ayayai $2,010 (which equals the standalone selling price of the windows, which have a cost of $1,140) upon delivery and the remaining balance upon installation of the windows. The windows are delivered on September 1, 2020, Ayayai completes installation on October 15, 2020, and the customer pays the balance due.

Prepare the journal entries for Ayayai in 2020. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No entry" for the account titles and enter 0 for the amounts. Round answer to 0 decimal places, e.g. 5,125.)

[The following information applies to the questions displayed below.]

Raleigh Department Store uses the conventional retail method for the year ended December 31, 2019. Available information follows:

1. The inventory at January 1, 2019, had a retail value of $45,000 and a cost of $27,500 based on the conventional retail method.
2. Transactions during 2019 were as follows:
   

Sales to employees are recorded net of discounts.

3. The retail value of the December 31, 2020, inventory was $56,100, the cost-to-retail percentage for 2020 under the LIFO retail method was 62%, and the appropriate price index was 102% of the January 1, 2020, price level.
4. The retail value of the December 31, 2021, inventory was $48,300, the cost-to-retail percentage for 2021 under the LIFO retail method was 61%, and the appropriate price index was 105% of the January 1, 2020, price level.

Required:
3. Assume Raleigh Department Store adopts the dollar-value LIFO retail method on January 1, 2020. Estimate ending inventory for 2020 and 2021.

Total ending inventory at dollar-value LIFO retail cost, 2021 = ?

Total ending inventory at dollar-value LIFO retail cost, 2020 = ?

Question 5 Accounting for Consolidation                                                                

The accountant of Park Ltd needs to prepare consolidated financial statements for Park Ltd at the end of financial year. Following information was available on 30 June 2020:

Park Ltd acquired 100 per cent interest in Sun Ltd for $850,000 on 1 July 2015. All assets and liabilities were fairly valued on the acquisition date. At the date of acquisition, the equity of Sun Ltd included:

Share capital                                 $320,000

Reserve                                        $160,000

Retained earnings                         $280,000

The balance of the investment account was $850,000 as shown in the Statement of Financial Position of Park Ltd on 30 June 2020.

1. The directors of Park Ltd believed that goodwill acquired was impaired by 20 per cent for the year ended 30 June 2020.
2. On 17 February 2020, Sun Ltd paid $60,000 in management fees to Park Ltd.
3. On 3 March 2020, Park Ltd sold inventory to Sun Ltd at a value of $48,000.
4. The above inventory had a cost of $29,000 for Park Ltd to produce. All inventories remained unsold in Sun Ltd on 30 June 2020. Park Ltd and Sun Ltdadopt the perpetual inventory system for inventory accounting. The income tax rate is 30%.

Required: (Narrations are required in this question)     

1. Describe the measurement of goodwill acquired in this question according to AASB 3.
2. Prepare relevant consolidation journal entries on 30 June 2020.

The accountant of Park Ltd needs to prepare consolidated financial statements for Park Ltd at the end of financial year. Following information was available on 30 June 2020:

Park Ltd acquired 100 per cent interest in Sun Ltd for $850,000 on 1 July 2015. All assets and liabilities were fairly valued on the acquisition date. At the date of acquisition, the equity of Sun Ltd included:

Share capital                                 $320,000

Reserve                                        $160,000

Retained earnings                         $280,000

The balance of the investment account was $850,000 as shown in the Statement of Financial Position of Park Ltd on 30 June 2020.

1. The directors of Park Ltd believed that goodwill acquired was impaired by 20 per cent for the year ended 30 June 2020.
2. On 17 February 2020, Sun Ltd paid $60,000 in management fees to Park Ltd.
3. On 3 March 2020, Park Ltd sold inventory to Sun Ltd at a value of $48,000.
4. The above inventory had a cost of $29,000 for Park Ltd to produce. All inventories remained unsold in Sun Ltd on 30 June 2020. Park Ltd and Sun Ltd adopt the perpetual inventory system for inventory accounting. The income tax rate is 30%.

Required: (Narrations are required in this question)     

1. Describe the measurement of goodwill acquired in this question according to AASB 3.
2. Prepare relevant consolidation journal entries on 30 June 2020.

PRACTICAL QUESTION   

Tiger Construction Ltd signs a contract on 1 May 2018 to build a theme park. The construction is scheduled to commence on 1 July 2018 and the estimated date of completion is 30 June 2021. The total contract price is $5m and the cost of the park is initially estimated at $4.5m. The following data relates to the construction period:

Assume that cost (an input measure) is used as the basis for assessing progress on the construction contract.

Required

Determine the percentage of completion for 2019, 2020 and 2021.              

Calculate revenue and gross profit for 2019, 2020 and 2021.                          

Using the percentage of completion method, provide the journal entries for 2019, 2020 and 2021.