Indigo Company sponsors a defined benefit plan for its 100 employees. On January 1, 2020, the company’s actuary provided the following information. Accumulated other comprehensive loss (PSC) $151,900 Pension plan assets (fair value and market-related asset value) 198,500 Accumulated benefit obligation 256,900 Projected benefit obligation 379,200 The average remaining service period for the participating employees is 10 years. All employees are expected to receive benefits under the plan. On December 31, 2020, the actuary calculated that the present value of future benefits earned for employee services rendered in the current year amounted to $47,200; the projected benefit obligation was $499,500; fair value of pension assets was $271,500; the accumulated benefit obligation amounted to $362,700. The expected return on plan assets and the discount rate on the projected benefit obligation were both 10%. The actual return on plan assets is $10,000. The company’s current year’s contribution to the pension plan amounted to $63,000. No benefits were paid during the year.

Determine the components of pension expense that the company would recognize in 2020. (With only one year involved, you need not prepare a worksheet.)

Whispering Company began operations on January 2, 2019. It employs 12 individuals who work 8-hour days and are paid hourly. Each employee earns 11 paid vacation days and 7 paid sick days annually. Vacation days may be taken after January 15 of the year following the year in which they are earned. Sick days may be taken as soon as they are earned; unused sick days accumulate. Additional information is as follows. Actual Hourly Wage Rate Vacation Days Used by Each Employee Sick Days Used by Each Employee 2019 2020 2019 2020 2019 2020 $7 $8 0 10 5 6 Whispering Company has chosen to accrue the cost of compensated absences at rates of pay in effect during the period when earned and to accrue sick pay when earned.

I need help recording sick leave paid. The entries are

Debit: Salaries and wages expense

Debit: Salaries and wages payable

Credit: cash

I do not know how to calculate the numbers.

Please show work on calculations

Suppose that

The Elasticity of Imports in the USA in the short Run is 0.5

The Elasticity of Imports in Japan in the short Run is -0.3

The Elasticity of Imports in the USA in the long Run is 1.2

According to the Elasticities approach to the Current Account Balance, if the Exchange Rate goes from Yen=$1/100 to Yen=$1/50 ...

Lock & Key Inc. began operations on January 1, 2019. Its post-closing trial balance at December 31, 2019 and 2020, is shown below along with some other information. Lock & Key Inc. Income Statement For Year Ended December 31, 2020 (000s) Revenues: Sales $ 3,260 Cost of goods sold 2,890 Gross Profit 370 Expenses: Other expenses $ 720 Depreciation expense 240 Total expenses 960 Loss $ 590 Lock & Key Inc. Post-Closing Trial Balance (000s) December 31 Account 2020 2019 Cash $ 1,560 $ 1,200 Receivables 2,040 1,380 Merchandise inventory 1,980 2,220 Property, plant and equipment 3,660 3,900 Accumulated depreciation 1,380 1,320 Accounts payable 1,380 1,020 Accrued liabilities 240 360 Bonds payable 1,140 1,740 Common shares 3,024 1,570 Retained earnings 2,076 2,690 Other information regarding Lock & Key Inc. and its activities during 2020: Assume all accounts have normal balances. Cash dividends were declared and paid during the year. Equipment was sold for cash equal to its book value. Other information: All accounts payable balances result from merchandise purchases. All sales are credit sales. All credits to accounts receivable are receipts from customers. All debits to accounts payable result from payments for merchandise. All other expenses are cash expenses. Required: Prepare a statement of cash flows for 2020 using the direct method to report cash inflows and outflows from operating activities. cash flow statement with direct method.

1. Apple’s Worldwide Revenues from 2004 to 2019 is as follows:

1. Enter the data above into the tab labeled Apple. Graph the data in Excel and use your graph to determine what kind of time series pattern exist. Put your answer in your spreadsheet.
2. Make the following forecasts for 2020. For all of them, use Mean Squared Error to determine which of the forecasts is the best. Make sure your answers are clearly labeled.
   1. Naïve forecast from one prior time period
   2. Calculate a 4-period moving average
   3. Calculate a 3-period moving average with the following weights for time t: time period t-1=0.8, t-2 = 0.15, t-3=.05
3. In the tab called Apple Smoothing, use the data from 3. to forecast 2020 using an alpha equal to 0.7, 0.8, and 0.9. Using MSE, which one offers the best estimate for 2020?
4. In the tab called Apple Regression, use the information from 3. and run a regression to determine your forecast for 2020
   1. Put your regression output in F1 of the same workbook.
   2. Calculate what your forecast is for 2020 in F21.
   3. How does well does this regression equation predict revenue? Write your answer in F22. In addition, explain what your numerical answer means in words.

PLEASE PROVIDE STEP BY STEP AND FORMULAS FOR EXCEL, THANK YOU

Pop Inc. reported income from continuing operations before taxes during 2020 of $463,000.

Additional transactions occurring in 2020 follows:

1. The corporation experienced an uninsured hurricane loss in the amount of $130,000 during the year.

2. At the beginning of 2018, the corporation purchased equipment for $62,000 (salvage value of $6,000) that had a useful life of 10 years. The bookkeeper used straight-line depreciation for 2018, 2019, and 2020 but incorrectly used a 7 year useful life in determining the deprecation amount. (treat this error as a prior period adjustment)

3. Sale of securities held as a part of its portfolio resulted in a gain of $40,000 (pretax).

4. When its chairman of the board died, the corporation realized $500,000 from an insurance policy. The cash surrender value of this policy had been carried on the books as an investment in the amount of $410,000 (the gain is nontaxable).

5. The corporation disposed of its consumer division at a loss of $210,000 before taxes. Assume that this transaction meets the criteria for discontinued operations.

6. The corporation decided to change its method of inventory pricing from average cost to the FIFO method. The effect of this change on prior years is to increase 2018 income by $86,000 and increase 2019 income by $43,000 before taxes. The FIFO method has been used for 2020. The tax rate on these items is 30%.

Instructions: Prepare an income statement in good form for the year 2020, starting with income from continuing operations before taxes.

Compute earnings per share as it should be shown on the face of the income statement.

Common shares outstanding for the year are 200,000 shares. (Assume a tax rate of 30% on all items, unless indicated otherwise.)

3. Do you think shareholders from target companies enjoy an average gain when acquired, while acquiring shareholders do not benefit anything? Why? Are there any common flaws in the negotiation for a merger? Can you comment on the value creation process in an acquisition?     

Worldcom was a high performing stock and a darling of Wall Street investors. The company's management had repeatedly fulfilled its objective to maximize profits and the stock's price, yet somehow the company failed.

• What are the major causes of the Worldcom collapse?
• What does the Worldcom collapse tell you about audited financial statements?
• If Worldcom's CEO and CFO were simply doing their job to maximize profits, why then did they go to prison?
• What comment can you make about Worldcom's corporate governance (i.e., Board of Directors)?
• Who was the heroine of the Worldcom scandal?

Net Present Value

An organization’s initial outlay for a proposed capital budgeting project is $1,000,000. Use the table below to calculate the net present value.

You are the CEO of the company. If the firm’s cost of capital is 8%, how likely would you be to approve this project when the net present value is $1.00? Would you be more or less likely to approve the project if the net present value were $100,000.00?

2. You are an executive for a manufacturing company. You have just attended a meeting in which the CEO has approved a new production method that may leak poison into a river and endanger the salmon spawn. You have always been concerned about the environment and you are very much against endangering the salmon spawn. You have to decide whether you are going to oppose this decision or remain silent. List the three most important considerations that are affecting your decision in this ethical dilemma.

3. Give an example of another ethical dilemma.