Fuzzy Monkey Technologies, Inc., purchased as a long-term investment $90 million of 6% bonds, dated January 1, on January 1, 2018. Management has the positive intent and ability to hold the bonds until maturity. For bonds of similar risk and maturity the market yield was 8%. The price paid for the bonds was $73 million. Interest is received semiannually on June 30 and December 31. Due to changing market conditions, the fair value of the bonds at December 31, 2018, was $80 million.

Required:
1. to 3. Prepare the relevant journal entries on the respective dates (record the interest at the effective rate).
4. At what amount will Fuzzy Monkey report its investment in the December 31, 2018, balance sheet?
5. How would Fuzzy Monkey's 2018 statement of cash flows be affected by this investment?

Fuzzy Monkey Technologies, Inc., purchased as a long-term investment $130 million of 8% bonds, dated January 1, on January 1, 2018. Management has the positive intent and ability to hold the bonds until maturity. For bonds of similar risk and maturity the market yield was 10%. The price paid for the bonds was $115 million. Interest is received semiannually on June 30 and December 31. Due to changing market conditions, the fair value of the bonds at December 31, 2018, was $120 million.

Required:
1. to 3. Prepare the relevant journal entries on the respective dates (record the interest at the effective rate).
4. At what amount will Fuzzy Monkey report its investment in the December 31, 2018, balance sheet?
5. How would Fuzzy Monkey's 2018 statement of cash flows be affected by this investment?

Rewrite the following SELECT statement. In the rewrite change the join operator style on the Facility table to a Type I nested query. (10 points)

SELECT eventplan.planno, eventrequest.eventno, workdate,activity

FROM eventrequest, eventplan, Facility

WHERE eventplan.workdate BETWEEN '2018-12-01' AND '2018-12-31' AND eventrequest.eventno = eventplan.eventno AND EventRequest.FacNo = Facility.FacNo AND facname = 'Basketball arena';

Rewrite the following SELECT statement. In the rewrite change the join operator style on the Facility and Employee tables to a Type I nested queries. (15 points)

SELECT DISTINCT eventrequest.eventno, dateheld, status, estcost

FROM eventrequest, employee, facility, eventplan

WHERE eventplan.workdate

BETWEEN '2018-10-01' AND '2018-12-31' AND eventplan.empno = employee.empno AND eventrequest.facno = facility.facno AND facname = 'Basketball arena' AND empname = 'Mary Manager' AND eventrequest.eventno = eventplan.eventno;

The business faculty of a public university recorded data on the number of students enrolled in the different study majors for the years 2018 and 2019. These data are useful for the faculty for their decision making process with regard to future planning. The data are stored in BUSSTUDYMAJOR worksheet in the .xls file attached.

1. Use an appropriate graphical technique or chart to display the percentage value of the number of enrolment of the different study major in 2018. Display the chart.

2. Use an appropriate graphical technique or chart to compare the number of enrolment in 2018 and 2019 of the different study major. Display the chart.   

On December 31, 2017, Dow Steel Corporation had 750,000 shares of common stock and 45,000 shares of 7%, noncumulative, nonconvertible preferred stock issued and outstanding. Dow issued a 4% common stock dividend on May 15 and paid cash dividends of $550,000 and $84,000 to common and preferred shareholders, respectively, on December 15, 2018.

On February 28, 2018, Dow sold 60,000 common shares. In keeping with its long-term share repurchase plan, 2,000 shares were retired on July 1. Dow's net income for the year ended December 31, 2018, was $2,850,000. The income tax rate is 40%.
  
Required:
Compute Dow's earnings per share for the year ended December 31, 2018.

On january 1, 2017 , Fro-yo Inc. began offering customers a cash rebate of $5 if the customer mails in 10 proof-of purchase labels from its frozen yogurt containers. Based on historical experience , the company estimates that 20% of the labels will be redeemed .During 2017, the company sold 5000000 frozen yogurt containers at $1 cash, per container .From these sales,800000 labels were redeemed in2017,150000 labels were redeemed in 2018, and the remaining labels were redeemed.
          Required :
1.Prepare the journal entries related to the sale of frozen yogurt and the cash rebate offer for 2017 and 2018.
2. Next level Assume that 300000 labels were redeemed in 2018. Prepare the journal entries related to the cash rebate offer for 2018.

ABC Construction Co. signed a $2,000,000 contract to construct an office building for the State of Arizona. The project will begin in 2017 and be completed in 2018. The cost of construction is expected to be $1,875,000.

Below is a summary of events for 2017 and 2018:

ABC Construction Co. recognizes revenue upon completion when accounting for long-term contracts.

a. Prepare all journal entries to record costs, billings, collections, and any profit recognition for ABC Construction Co. activities for 2017 only.

b. Prepare any journal entry needed for profit recognition only for ABC Construction Co. activities for 2018.

Following is information from Kaitlyn Company for the year ended December 31, 2018.

Direct labor $ 90,000
Operating and administrative expenses (costs) of sales ????
Net sales $ 520,000
Initial Inventories (None)
Direct Material Inventory-December 31, 2018 $ 55,000
Inventory of Work in process-December 31, 2018 $ 30,000
Inventory of finished goods- December 31, 2018 $ 4,000
Purchase of direct material ???
Direct material used $ 53,000
Indirect manufacturing costs ???
Total manufacturing costs incurred (in this period) ???
Cost of manufactured goods $ 245,000
Cost of sales ???
Gross margin (gain) ???
Net income (ignore taxes) $ 60,000

Calculate: operating and administrative expenses, purchase of direct materials, indirect manufacturing costs, total manufacturing costs, cost of sales and gross margin

Fuzzy Monkey Technologies, Inc., purchased as a long-term investment $80 million of 6% bonds, dated January 1, on January 1, 2018. Management has the positive intent and ability to hold the bonds until maturity. For bonds of similar risk and maturity the market yield was 8%. The price paid for the bonds was $64 million. Interest is received semiannually on June 30 and December 31. Due to changing market conditions, the fair value of the bonds at December 31, 2018, was $70 million.

Required:
1. to 3. Prepare the relevant journal entries on the respective dates (record the interest at the effective rate).
4. At what amount will Fuzzy Monkey report its investment in the December 31, 2018, balance sheet?
5. How would Fuzzy Monkey's 2018 statement of cash flows be affected by this investment?

Fuzzy Monkey Technologies, Inc., purchased as a long-term investment $80 million of 8% bonds, dated January 1, on January 1, 2018. Management has the positive intent and ability to hold the bonds until maturity. For bonds of similar risk and maturity the market yield was 10%. The price paid for the bonds was $66 million. Interest is received semiannually on June 30 and December 31. Due to changing market conditions, the fair value of the bonds at December 31, 2018, was $70 million.

Required:

1. to 3. Prepare the relevant journal entries on the respective dates (record the interest at the effective rate).

4. At what amount will Fuzzy Monkey report its investment in the December 31, 2018, balance sheet?

5. How would Fuzzy Monkey's 2018 statement of cash flows be affected by this investment?