walmarts annual report shows the year 2017 their GENERAL ADMIN EXPENSE was 21.16%.

in 2018 it was 21.48%.

in 2019 it is 21.0%

Between 2017 and 2018 it increased slightly then by the end of 2019 it dropped.

why wod the general admin expense decrease?

In January 2018, Sonja Deposited $20,000 in a bank in the Bahamas. She earned $500 Interest income. She closed the Account in December 2018.

a. Is Sonja subject to the FBAR reporting requirement?

b. Is the Interest Income taxable in the United States?

On January 1, 2018, the Highlands Company began construction on a new manufacturing facility for its own use. The building was completed in 2019. The company borrowed $1,550,000 at 7% on January 1 to help finance the construction. In addition to the construction loan, Highlands had the following debt outstanding throughout 2018: $9,000,000, 11% bonds $3,000,000, 7% long-term note Construction expenditures incurred during 2018 were as follows: January 1 $ 680,000 March 31 1,280,000 June 30 896,000 September 30 680,000 December 31 480,000 Required: Calculate the amount of interest capitalized for 2018 using the specific interest method. (Do not round the intermediate calculations. Round your percentage answers to 1 decimal place (i.e. 0.123 should be entered as 12.3%).)

The prepaid insurance account has an unadjusted balance of $46,000 at December 31,

2018, the end of Hanson Company's accounting year. Insurance expense has a $2,000 balance

at the same point in time.

The following policies are in effect at December 31, 2018:

Policy Type Date Acquired   Policy Term Total Premium Paid When Acquired

Liability 1-31-17 2 years $48,000

Auto 6-30-18 2 years . $9,000

Business interruption . 8-1-18 1 year $840

1. Determine the adjusted balance in prepaid insurance at December 31, 2018.

2. Determine the amount of total insurance expense (you need not separate the expense

by policy type) to report on the income statement for the year ended December 31,

2018.

The prepaid insurance account has an unadjusted balance of $46,000 at December 31,

2018, the end of Hanson Company's accounting year. Insurance expense has a $12,000 balance

at the same point in time. The following policies are in effect at December 31, 2018:

Policy Date Policy Total Premium

Type Acquired Term Paid when acquired

Liability 1-31-17 2 years $48,000

Auto 6-30-18 2 years 9,000

Business interruption 8-1-18 1 year 840

1. Determine the adjusted balance in prepaid insurance at December 31, 2018.

2. Determine the amount of total insurance expense (you need not separate the expense

by policy type) to report on the income statement for the year ended December 31,

2018.

The following trial balance was extracted from the books of Mike Karuvadu on 31 Dec 2018. From it and the note inventory, prepare his Statement of Profit or Loss for the year ending 31 Dec 2018 and a Statement of Financial Position as at that date:

                                                                                                Dr                    Cr

                                                                                                $                      $

Sales                                                                                                                216,420

Purchases                                                                                109,680

Inventory: 1 Jan 2018                                                             10,410

Carriage outwards                                                                  2,115

Carriage inwards                                                                     1,840

Return inwards                                                                       5,900

Return outwards                                                                                             6,720

Salaries and wages                                                                  42,800

Motor expenses                                                                       1,912

Rent                                                                                        7,800

Sundry expenses                                                                     1,318

Motor vehicles                                                                        15,400

Fixtures and fittings                                                                1,912

Accounts receivable                                                                24,200

Accounts payable                                                                                            19,100

Cash at bank                                                                           5,100

Cash in hand                                                                           1,240

Drawings                                                                                 30,440

Capital                                                                                     ________        19,827_

                                                                                                262,067           262,067

Inventory at 31 Dec 2018 was $11,290

In 2018, Western Transport Company entered into the treasury stock transactions described below. In 2016, Western Transport had issued 280 million shares of its $1 par common stock at $28 per share. Required: Prepare the appropriate journal entry for each of the following transactions: (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Enter your answers in millions (i.e., 10,000,000 should be entered as 10).) On January 23, 2018, Western Transport reacquired 20 million shares at $31 per share. On September 3, 2018, Western Transport sold 2 million treasury shares at $32 per share. On November 4, 2018, Western Transport sold 2 million treasury shares at $29 per share.

Manufacturing costs for Davenport Company during 2018 were as follows:

Note: The pre-determined overhead rate is 0.87 (87%) of direct labor cost.

Required:

1. Prepare a Cost of Goods Manufactured report.

2. Prepare a Partial Income Statement if sales revenue was $1,370,000 and operating expenses were $270,000 for 2018.

The following summary transactions occurred during 2018 for Bluebonnet Bakers:

The balance of cash and cash equivalents at the beginning of 2018 was $30,000.

Required:
Prepare a statement of cash flows for 2018 for Bluebonnet Bakers. Use the direct method for reporting operating activities. (Amounts to be deducted should be indicated with a minus sign.)