Questions
Explain how each evolutionary change seen in the life cycles of seedless non-vascular plants, seedless vascular...

Explain how each evolutionary change seen in the life cycles of seedless non-vascular plants, seedless vascular plants, non-flowering seed plants, and flowering seed plants reflects adaptations to land. In your explanation, explain why each plant group is more successful on land than the ancestral group before it.

In: Biology

Black fur color is dominant to white fur color and non-webbed toes are dominant to webbed...

Black fur color is dominant to white fur color and non-webbed toes are dominant to webbed toes. a dog with white fur and web toes is mated with a dog homozygous dominant for both black fur and non-webbed toes. Draw the resulting Punnett square from this cross. What are the genotypic and phenotypic ratios of their offspring.

In: Biology

Discuss the relationship between culture and non-verbal communication. Discuss how it can be understood through the...

  • Discuss the relationship between culture and non-verbal communication. Discuss how it can be understood through the terms of technical, formal, and informal culture.
  • Based on research of a particular culture (not the United States) discuss if this culture is individualistic/ collectivistic and being low context- high context culture and how non-verbal behaviors are viewed based on this.

In: Operations Management

1. What are some of the inadequacies of the Family Medical Leave Act (FMLA)? What bias...

1. What are some of the inadequacies of the Family Medical Leave Act (FMLA)? What bias does the federal government indicate in supporting the Family Preservation concept? How well does the FMLA serve non-traditional families? Why does the Social Work profession reject the act of serving non-traditional families differently?

In: Psychology

Consider the solution formed from dissolving 11.20 ml of methylene chloride, CH2Cl2 (Mm=85.0g/mol, Density=1.33g/ml; non-electrolyte) into...

Consider the solution formed from dissolving 11.20 ml of methylene chloride, CH2Cl2 (Mm=85.0g/mol, Density=1.33g/ml; non-electrolyte) into 102.8 ml of carbon tetrachloride, CCl4 (Mm=154g/mol, density=1.59g/ml; non-electrolyte). Determine the molality and molarity of the resulting solution assuming additive volumes.

In: Chemistry

Assume an employee with the following terms and conditions Basic Pay K15, 000 Housing Allowance 20%...

Assume an employee with the following terms and conditions
Basic Pay K15, 000
Housing Allowance 20% of the basic Pay
Overtime allowance K1, 800
Transport Allowance 10% of basic pay
Required:
i. Prepare a pay slip for this employee taking into account the necessary statutory deductions. (Note: for PAYE use the 2018 rates)
ii. Show how the above will be recorded in the books of accounts for the company.
A. Write short notes on the following: (1 MARK EACH)
i. Issued Share Capital
ii. Subscribed Share capital
iii. Authorized share capital
iv. Paid up Share Capital

Before Manny went into a Sole Proprietorship, he was in Partnership with Papa who decided to venture into fish farming, the following is their Liquidation information

Cash k100, 000
Non- Cash Assts k1, 000,000
Non- Cash Assets Sales k600, 000
Liabilities k200, 000
Manny’s Capital k400, 000
Papa’s Capital k500, 000
Income and Losses are shared equally
Required: Prepare the statement of Partnership Liquidation

QUESTION TWO.
The costs incurred by Noriega Company to acquire land and construct a building were as follows:
i. Land k150,000
ii. Construction insurance k3,500
iii. Delinquent tax paid on the land k 5,000
iv. Building construction contract k 220,000
v. Architect Fees k2,000,
vi. Street and side Walk installation k4,000
vii. Excavation Costs k3,100
viii. Property Tax on land (pro to construction) k1,600
ix. Interest cost on loan to pay contract k2,600
Requirements:
a. Determine the cost of land
b. Determine the cost of the building ( 3 MARKS)
c. Assuming the residue value of the building is K60,000 and that the economic life is 10 years, compute Noriega LTD Company’s depreciation expense for Year 1, Year 2, Year 3 under the following methods
i. Straight line Method
ii. Double Declining Method
d. At the beginning of Year 4, Noriega LTD Company incurred an additional Cost of K10, 000 in order to add a new wing to the building; as a result the salvage value of the building is increased by k5, 000 and also increased the remaining life of the building by 2 years. Re- Calculate the depreciation for the next two years using the straight line method. ( 3 MARKS)
e. Show how the methods of depreciation used in C. will affect the profits
f. Write a short note on accounting for natural resources and how it differs with normal accounting for Non- Current Assets

Need answers ASAP

In: Accounting

Create an ERD based on the following business rules and requirements. Make sure that the ERD...

  1. Create an ERD based on the following business rules and requirements. Make sure that the ERD follows good database design practices covered in Chapter 6. use an online visual paradigm tool to create the ERD
  • NOST offers many different tours. For each tour, the tour name, approximate length (in hours), and fee charged is needed.
  • Tours are classified into five categories: family friendly, adventure, hiking, camping, and water activities.
  • Guides are identified by an employee ID, but the system should also record a guide’s name, home address, and date of hire.
  • Guides take a test to be qualified to lead specific tours. It is important to know which guides are qualified to lead which tours and the date that they completed the qualification test for each tour. A guide may be qualified to lead many different tours. A tour can have many different qualified guides. New guides may or may not be qualified to lead any tours, just as a new tour may or may not have any qualified guides.
  • Every tour must be designed to visit at least three locations. For each location, a name, type, and official description are kept. Some locations (such as the Hobbiton) are visited by more than one tour, while others (such as the Glow Worm cave) are visited by a single tour. All locations are visited by at least one tour.
  • When a tour is actually given, that is referred to as an “outing.” NOST schedules outings well in advance so they can be advertised and so employees can understand their upcoming work schedules. A tour can have many scheduled outings, although newly designed tours may not have any outings scheduled. Each outing is for a single tour and is scheduled for a particular date and time. All outings must be associated with a tour. All tours at NOST are guided tours, so a guide must be assigned to each outing. Each outing has one and only one guide. Guides are occasionally asked to lead an outing of a tour even if they are not officially qualified to lead that tour. Newly hired guides may not have ever been scheduled to lead any outings.
  • Tourists, called “clients” by NOST, pay to join a scheduled outing. For each client, the name, address, and telephone number are recorded. Clients may sign up to join many different outings, and each outing can have many clients. Information is kept only on clients who have signed up for at least one outing, although newly scheduled outings may not have any clients signed up yet.

a) Identify all possible entities and relationships. Name all relationships in both directions, with the exception that the relationship name may be omitted on a relationship travelling from an associative or bridging entity.

(b) Resolve any many-to-many relationships.

(c) Identify

(i) strong and weak entities

(ii) identifying and non-identifying relationships.

(d) Identify the main attributes in each entity including all primary and foreign keys.

(e) Identify the Cardinality and Participation for each relationship.

logical database design question

In: Computer Science

In late 2017, the Nicklaus Corporation was formed. The corporate charter authorizes the issuance of 4,000,000 shares of common stock carrying a $1 par value

 

Part A
In late 2017, the Nicklaus Corporation was formed. The corporate charter authorizes the issuance of 4,000,000 shares of common stock carrying a $1 par value, and 1,000,000 shares of $5 par value, noncumulative, nonparticipating preferred stock. On January 2, 2018, 2,000,000 shares of the common stock are issued in exchange for cash at an average price of $10 per share. Also on January 2, all 1,000,000 shares of preferred stock are issued at $20 per share.

Required:
1. Prepare journal entries to record these transactions.
2. Prepare the shareholders' equity section of the Nicklaus balance sheet as of March 31, 2018. (Assume net income for the first quarter 2018 was $1,200,000.)

Part B
During 2018, the Nicklaus Corporation participated in three treasury stock transactions:

On June 30, 2018, the corporation reacquires 130,000 shares for the treasury at a price of $12 per share.

On July 31, 2018, 15,000 treasury shares are reissued at $15 per share.

On September 30, 2018, 15,000 treasury shares are reissued at $10 per share.


Required:
1. Prepare journal entries to record these transactions.
2. Prepare the Nicklaus Corporation shareholders' equity section as it would appear in a balance sheet prepared at September 30, 2018. (Assume net income for the second and third quarter was $2,650,000.)

Part C
On October 1, 2018, Nicklaus Corporation receives permission to replace its $1 par value common stock (4,000,000 shares authorized, 2,000,000 shares issued, and 1,900,000 shares outstanding) with a new common stock issue having a $.50 par value. Since the new par value is one-half the amount of the old, this represents a 2-for-1 stock split. That is, the shareholders will receive two shares of the $.50 par stock in exchange for each share of the $1 par stock they own. The $1 par stock will be collected and destroyed by the issuing corporation.

On November 1, 2018, the Nicklaus Corporation declares a $0.07 per share cash dividend on common stock and a $0.23 per share cash dividend on preferred stock. Payment is scheduled for December 1, 2018, to shareholders of record on November 15, 2018.

On December 2, 2018, the Nicklaus Corporation declares a 1% stock dividend payable on December 28, 2018, to shareholders of record on December 14. At the date of declaration, the common stock was selling in the open market at $10 per share. The dividend will result in 38,000 (0.01 × 3,800,000) additional shares being issued to shareholders.

Required:
1. Prepare journal entries to record the declaration and payment of these stock and cash dividends.
2. Prepare the December 31, 2018, shareholders' equity section of the balance sheet for the Nicklaus Corporation. (Assume net income for the fourth quarter was $2,150,000.)
3. Prepare a statement of shareholders' equity for Nicklaus Corporation for 2018.

  prefer stock common stock paid in capital retained earing treasury stock total shareholder equity
Jan 2 2018            
issuance of preferred stock            
issuance of common stock            
purchase of treasury stock            
sale of treasury stock            
net income            
common cash dividends            
preferred cash dividends            
stock dividend            

Part A

1.

Date General Journal Debit Credit
Jan. 2 Cash (2000000 x $10) 20000000  
  Common stock (2000000 x $1)   2000000
  Additional paid-in capital -common stock   18000000
  (To record issuance of common stock)    
Jan. 2 Cash (1000000 x $20) 20000000  
  Preferred stock (1000000 x $5)   5000000
  Additional paid-in capital -preferred stock   15000000
  (To record issuance of preferred stock)    

2.

NICKLAUS CORPORATION
Balance Sheet - Shareholders' Equity Section
March 31, 2018
Shareholders' Equity:  
Preferred stock 5000000
Common stock 2000000
Additional paid-in capital 33000000
Retained earnings 1200000
Total stockholders' equity 41200000

Part B

1.

Date General Journal Debit Credit
Jun. 30 Treasury stock (130000 x $12) 1560000  
  Cash   1560000
  (To record purchase of treasury stock)    
Jul. 31 Cash (15000 x $15) 225000  
  Treasury stock (15000 x $12)   180000
  Additional paid-in capital from treasury stock   45000
  (To record sale of treasury stock)    
Sep. 30 Cash (15000 x $10) 150000  
  Additional paid-in capital from treasury stock 30000  
  Treasury stock (15000 x $12)   180000
  (To record sale of treasury stock)    

2.

NICKLAUS CORPORATION
Balance Sheet - Shareholders' Equity Section
September 30, 2018
Shareholders' Equity:  
Preferred stock 5000000
Common stock 2000000
Additional paid-in capital 33000000
Additional paid-in capital from treasury stock 30000
Retained earnings 3850000
  43880000
Less: Treasury stock 1200000
Total stockholders' equity 42680000

In: Accounting

I only need part C completed Part A In late 2017, the Nicklaus Corporation was formed....

I only need part C completed

Part A
In late 2017, the Nicklaus Corporation was formed. The corporate charter authorizes the issuance of 4,000,000 shares of common stock carrying a $1 par value, and 1,000,000 shares of $5 par value, noncumulative, nonparticipating preferred stock. On January 2, 2018, 2,000,000 shares of the common stock are issued in exchange for cash at an average price of $10 per share. Also on January 2, all 1,000,000 shares of preferred stock are issued at $20 per share.

Required:
1. Prepare journal entries to record these transactions.
2. Prepare the shareholders' equity section of the Nicklaus balance sheet as of March 31, 2018. (Assume net income for the first quarter 2018 was $1,200,000.)

Part B
During 2018, the Nicklaus Corporation participated in three treasury stock transactions:

On June 30, 2018, the corporation reacquires 130,000 shares for the treasury at a price of $12 per share.

On July 31, 2018, 15,000 treasury shares are reissued at $15 per share.

On September 30, 2018, 15,000 treasury shares are reissued at $10 per share.


Required:
1. Prepare journal entries to record these transactions.
2. Prepare the Nicklaus Corporation shareholders' equity section as it would appear in a balance sheet prepared at September 30, 2018. (Assume net income for the second and third quarter was $2,650,000.)

Part C
On October 1, 2018, Nicklaus Corporation receives permission to replace its $1 par value common stock (4,000,000 shares authorized, 2,000,000 shares issued, and 1,900,000 shares outstanding) with a new common stock issue having a $.50 par value. Since the new par value is one-half the amount of the old, this represents a 2-for-1 stock split. That is, the shareholders will receive two shares of the $.50 par stock in exchange for each share of the $1 par stock they own. The $1 par stock will be collected and destroyed by the issuing corporation.

On November 1, 2018, the Nicklaus Corporation declares a $0.07 per share cash dividend on common stock and a $0.23 per share cash dividend on preferred stock. Payment is scheduled for December 1, 2018, to shareholders of record on November 15, 2018.

On December 2, 2018, the Nicklaus Corporation declares a 1% stock dividend payable on December 28, 2018, to shareholders of record on December 14. At the date of declaration, the common stock was selling in the open market at $10 per share. The dividend will result in 38,000 (0.01 × 3,800,000) additional shares being issued to shareholders.

Required:
1. Prepare journal entries to record the declaration and payment of these stock and cash dividends.
2. Prepare the December 31, 2018, shareholders' equity section of the balance sheet for the Nicklaus Corporation. (Assume net income for the fourth quarter was $2,150,000.)
3. Prepare a statement of shareholders' equity for Nicklaus Corporation for 2018.

prefer stock common stock paid in capital retained earing treasury stock total shareholder equity
Jan 2 2018
issuance of preferred stock
issuance of common stock
purchase of treasury stock
sale of treasury stock
net income
common cash dividends
preferred cash dividends
stock dividend

Part A

1.

Date General Journal Debit Credit
Jan. 2 Cash (2000000 x $10) 20000000
Common stock (2000000 x $1) 2000000
Additional paid-in capital -common stock 18000000
(To record issuance of common stock)
Jan. 2 Cash (1000000 x $20) 20000000
Preferred stock (1000000 x $5) 5000000
Additional paid-in capital -preferred stock 15000000
(To record issuance of preferred stock)

2.

NICKLAUS CORPORATION
Balance Sheet - Shareholders' Equity Section
March 31, 2018
Shareholders' Equity:
Preferred stock 5000000
Common stock 2000000
Additional paid-in capital 33000000
Retained earnings 1200000
Total stockholders' equity 41200000

Part B

1.

Date General Journal Debit Credit
Jun. 30 Treasury stock (130000 x $12) 1560000
Cash 1560000
(To record purchase of treasury stock)
Jul. 31 Cash (15000 x $15) 225000
Treasury stock (15000 x $12) 180000
Additional paid-in capital from treasury stock 45000
(To record sale of treasury stock)
Sep. 30 Cash (15000 x $10) 150000
Additional paid-in capital from treasury stock 30000
Treasury stock (15000 x $12) 180000
(To record sale of treasury stock)

2.

NICKLAUS CORPORATION
Balance Sheet - Shareholders' Equity Section
September 30, 2018
Shareholders' Equity:
Preferred stock 5000000
Common stock 2000000
Additional paid-in capital 33000000
Additional paid-in capital from treasury stock 30000
Retained earnings 3850000
43880000
Less: Treasury stock 1200000
Total stockholders' equity 42680000

In: Accounting

QUESTION 1 [25] The following are extracts from the financial statements of ABC Ltd for the...

QUESTION 1 [25]

The following are extracts from the financial statements of ABC Ltd for the year ended 31 December 2019:

ABC Ltd

Statement of Profit or Loss and Other Comprehensive Income for the year ended 31 December 2019

Revenue

280 842

Cost of Sales

(100 000)

Gross Profit

180 842

Interest received

4 528

Dividends received on listed investments

6 680

Profit on disposal of property, plant & equipment

560

Administration expenses

(64 730)

Depreciation of property, plant & equipment

(37 280)

Interest paid

(19 840)

Profit before tax

70 760

Taxation

(27 232)

Profit for the year

43 528

ABC Ltd

Statement of Changes in Equity for the year ended 31 December 2019

Retained Earnings

Opening balance

153 416

Profit for the year

43 528

Dividends to shareholders

(23 366)

Closing balance

173 578

ABC Ltd

Statement of Financial Position as at 31 December

2019

2018

Assets

Non-current assets

536 706

442 216

Property, Plant and Equipment

501 648

417 848

Investment in listed shares

35 058

24 368

Current assets

235 750

191 962

Inventory

93 310

65 250

Trade Receivables

136 774

120 690

Bank

5 666

6 022

Total Assets

772 456

634 178

Equity and Liabilities

Equity

403 176

342 236

Share Capital

31 300

31 300

Revaluation Surplus

198 298

157 520

Retained Earnings

173 578

153 416

Non-current Liabilities

195 334

152 288

Long term loan

195 334

152 288

Current Liabilities

173 946

139 654

Trade Payables

90 540

72 066

Tax Payable

4 776

5 424

Dividends Payable

12 582

12 582

Short Term Loans

66 048

49 582

Total Equity and Liabilities

772 456

634 178

Additional information: -

  1. The short-term portion of the long-term loan included in the short-term loans was

15 408 (2018: 29 402 – this was paid as planned in 2019).

  1. The proceeds from the sale of property, plant & equipment amounted to 1 978 during the current year. 24 000 of the purchases of property, plant & equipment during the current year was for the expansion of operations.

     Land (included in property, plant & equipment) was revalued during 2019.

Required:

Prepare the Statement of Cash Flows for ABC Ltd for the year ended 31 December 2019.

Show workings clearly.

The Reconciliation of Profit before tax and Cash generated from operations is not required.

In: Finance