Question No. 3 :

Alpha Company purchases 20 percent of Beta Company for $250,000 in cash. Alpha can exercise significant influence over the investee; thus, the equity method is appropriately applied. The acquisition is made on January 1, 2018. During 2018, Beta reports a net income of $187,500 and at year-end declares and pays a cash dividend of $75,000. Amortization associated with the purchase of this investment is $8,000 per year.

Required:

Prepare the journal entries for 2018 in the records of Alpha Company

Doyle Company issued $390,000 of 10-year, 9 percent bonds on January 1, 2018. The bonds were issued at face value. Interest is payable in cash on December 31 of each year. Doyle immediately invested the proceeds from the bond issue in land. The land was leased for an annual $56,500 of cash revenue, which was collected on December 31 of each year, beginning December 31, 2018.

A) Prepare the income statement, balance sheet, and statement of cash flows for 2018 and 2019.

On April 1, 2018, JS Co. sold equipment to JL Co. Service in exchange for a zero-interest bearing note with a face value of €109,000, with payment due in 12 months. The cost of goods sold is € 58,000. The fair value of the equipment on the date of sale was €100,000.

A- Record the entry showing how much revenue should JS Co. record on April 1, 2018.

B- Record the entry showing how much revenue should it report related to this transaction on December 31, 2018

1. How many times will the following crontab entry execute during January 2018?

   0  0  *  1  1  rm -r /root/backup/*

2. How many times will the following crontab entry execute during January 2018?

   0  0  *  1  6  rm -r /root/backup/*

3. List all of the dates the following crontab entry will execute during 2018 (this answer is a little tricky).

   0  0  1/10  *  7  rm -r /root/backup/*

The accounting records of Jamaican Importers, Inc., at January 1, 2018, included the following:

No changes occurred during 2018 in the investment portfolio.

Required:
Prepare appropriate adjusting entry(s) at December 31, 2018, assuming the fair value of the IBM common shares was:

$1,187,000

$1,287,000

$1,425,000

  
(If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)

The accounting records of Timberline Lodge are maintained on the basis of a fiscal year ending April 30. The facts listed below are to be used for making adjusting entries at April 30, 2018.

A portion of the land owned by Timberline had been leased on April 16, 2018, to a service state operator at a yearly rental of $12,000. One year’s rent was collected in advance at the date of the lease and credited to Unearned Rental Revenue. The lease runs from April 16, 2018 through April 15, 2019.

Gibson Corp. owned a 90% interest in Sparis Co. Sparis frequently made sales of inventory to Gibson. The sales, which include a markup over cost of 25%, were $420,000 in 2017 and $500,000 in 2018. At the end of each year, Gibson still owned 30% of the goods. Net income for Sparis was $912,000 during 2018. Assuming there are no excess amortizations associated with the consolidation, and no other intra-entity asset transfers, what was the net income attributable to the noncontrolling interest for 2018?

1. Stephen (Steph) Curry, an American NBA player on the Golden State Warriors, led the 2018 NBA salaries with the largest payroll for the NBA. A fan looks up the salaries for all of the players on the 2018 Golden State Warriors basketball team. Because the fan took a statistics course, the fan uses all of these salaries to get a 95% confidence interval to estimate the mean salary for all 2018 Golden State Warriors basketball players. This makes no sense. Why not? (1 pts)

In 2018, Dave is in an indemnity medical plan with a $1,800 annual deductible and an 90/10 split after the deductible. So the Coinsurance is 90%

a. On 2/15/2018 Greg injuries his arm and goes to the emergency room. The cost of his visit is $1,500. How much of that bill is Greg’s responsibility?

b. On 4/13/2018 Dave falls off a ladder and breaks his leg. His hospital stay costs $9,000. How much of the bill is Dave’s responsibility?

Q–7. An American investor purchased 100 shares of a French beyond meat company on January 1, 2018 at €93.00 per share. e French company paid an annual dividend of €0.72 on December 31st, 2018 to all its shareholders. e stock was sold that day as well for €100.25. e exchange rate was € 0.68 per US dollar on January 1,2018 and €0.71 per US dollar on December 31, 2018. What is the investor’s total return in US dollars?