Sun Corp. reported the following information for 2018 and 2019. 2018 2019 Accounts receivable $150 000 $120 000 Prepaid expenses 9 000 10 000 Accounts payable 65 000 80 000 Salaries payable 12 000 5 000 Income (profits or more correctly total comprehensive income) 200 000 Depreciation expense 14 000 Gain on sale of equipment 6 000 If Sun Corp. uses the indirect method to prepare the operating activities section of the statement of cash flows, what amount will be reported as net cash inflow from operating activities for 2019? Group of answer choices d. $247 000 a. $232 000 b. $215 000 c. $245 000

) On January 1, 2018, Swifty Corp. had 463,000 shares of common stock outstanding. During 2018, it had the following transactions that affected the Common Stock account. February 1 Issued 118,000 shares March 1 Issued a 10% stock dividend May 1 Acquired 103,000 shares of treasury stock June 1 Issued a 3-for-1 stock split October 1 Reissued 63,000 shares of treasury stock Collapse question part

(a) Determine the weighted-average number of shares outstanding as of December 31, 2018. The weighted-average number of shares outstanding Click if you would like to Show Work for this question: Open Show Work

On January 1, 2018, Rare Bird Ltd. purchased 15% bonds dated January 1, 2018, with a face amount of $28 million. The bonds mature in 2027 (10 years). For bonds of similar risk and maturity, the market yield is 14%. Interest is paid semiannually on June 30 and December 31. (FV of $1, PV of $1, FVA of $1, PVA of $1, FVAD of $1 and PVAD of $1) (Use appropriate factor(s) from the tables provided.)

Required: Determine the price of the bonds at January 1, 2018.

On January 1, 2018, Shirley Corporation purchased 12% bonds dated January 1, 2018, with a face amount of $21 million. The bonds mature in 2027 (10 years). For bonds of similar risk and maturity, the market yield is 16%. Interest is paid semiannually on June 30 and December 31. (FV of $1, PV of $1, FVA of $1, PVA of $1, FVAD of $1 and PVAD of $1) (Use appropriate factor(s) from the tables provided.)

Required: Determine the price of the bonds at January 1, 2018.

On January 1, 2018, Jay Corp. had 479,000 shares of common stock outstanding. During 2018, it had the following transactions that affected the Common Stock account.

February 1                Issued 117,000 shares

March 1                     Issued a 10% stock dividend

May 1                         Acquired 103,000 shares of treasury stock

June 1                        Issued a 3-for-1 stock split

October 1                  Reissued 59,000 shares of treasury stock

Question :

Determine the weighted-average number of shares outstanding as of December 31, 2018.

The weighted-average number of shares outstanding = _________

On January 1, 2018, Bishop Company issued 10% bonds dated January 1, 2018, with a face amount of $37 million. The bonds mature in 2027 (10 years). For bonds of similar risk and maturity, the market yield is 12%. Interest is paid semiannually on June 30 and December 31. (FV of $1, PV of $1, FVA of $1, PVA of $1, FVAD of $1 and PVAD of $1) (Use appropriate factor(s) from the tables provided.)

Required:
Determine the price of the bonds at January 1, 2018. (Enter your answer in whole dollars.)

CREATE ADJUSTING JOURNAL ENTRIES FOR JANUARY 31, 2018:

p. Record the January 2018 depreciation for all computers & software owned before the January 1 purchase. These items are being depreciated over 5 years using the straight-line method with no salvage value. q. Record the January 2018 depreciation for the furniture & fixtures. These items are being depreciation over 7 years using the straight-line method with no salvage value. r. Record the adjusting entry for January’s rent. Sunflower Designs paid $2,100 in advance for 6 months’ rent on December 1, 2017. All previous months’ adjusting entries were made as required. s. Record the adjusting entry to record the use of the prepaid insurance coverage in January. The amount of the expired insurance coverage was $200. The previous months’ adjusting entries were made as required. t. Record the amount due to an employee for time worked during January, but not paid. The amount earned by the employee was $3,170.

Alcorn Service Company was formed on January 1, 2018.

Events Affecting the 2018 Accounting Period

1. Acquired $20,000 cash from the issue of common stock.

2. Purchased $800 of supplies on account.

3. Purchased land that cost $14,000 cash.

4. Paid $800 cash to settle accounts payable created in Event 2.

5. Recognized revenue on account of $10,500.

6. Paid $3,800 cash for other operating expenses.

7. Collected $7,000 cash from accounts receivable.

Information for 2018 Adjusting Entries

8. Recognized accrued salaries of $3,600 on December 31, 2018.

9. Had $100 of supplies on hand at the end of the accounting period.

Events Affecting the 2019 Accounting Period

1. Acquired $15,000 cash from the issue of common stock.

2. Paid $3,600 cash to settle the salaries payable obligation.

3. Paid $9,000 cash in advance to lease office space.

4. Sold the land that cost $14,000 for $14,000 cash.

5. Received $6,000 cash in advance for services to be performed in the future.

6. Purchased $2,400 of supplies on account during the year.

7. Provided services on account of $24,500.

8. Collected $12,600 cash from accounts receivable.

9. Paid a cash dividend of $2,000 to the stockholders.

10. Paid other operating expenses of $2,850.

Information for 2019 Adjusting Entries

11. The advance payment for rental of the office space (see Event 3) was made on March 1 for a one-year term.

12. The cash advance for services to be provided in the future was collected on October 1 (see Event 5). The one-year contract started on October 1.

13. Had $300 of supplies remaining on hand at the end of the period.

14. Recognized accrued salaries of $4,800 at the end of the accounting period.

15. Recognized $500 of accrued interest revenue.

1. b-1. Prepare an income statement for 2018 and 2019.

2. b-2. Prepare the statement of changes in stockholders’ equity for 2018 and 2019.

3. b-3. Prepare the balance sheet for 2018 and 2019.

4. b-4. Prepare the statement of cash flows for 2018 and 2019, using the vertical statements model

Stonemusic purchased several investments during 2018. At 31 December 2018, the company had the following investment in ordinary share below. The investment is considered as available-for-sale:
100,000 Starship shares
Cost per share $12
Fair value per share $10

During 2019, the net income for Starship is $200,000. Starship declared and paid cash dividends of $1.2 each share on 31 December 2019.

The fair value of the investments on 31 December 2019 is shown as below:

Starship Company   Fair Value
$15 per hare

Assume Stonemusic has significant influence over the management of Starship Company (the investment represents 25% interest in the net assets of Starship), what is the reported amount of the investment shown on Stonemusic’s 2019 statement of financial position?

Stevens Textile Corporation's 2018 financial statements are shown below:

Balance Sheet as of December 31, 2018 (Thousands of Dollars)

Income Statement for January 1 - December 31, 2018 (Thousands of Dollars)

1. Suppose 2019 sales are projected to increase by 25% over 2018 sales. Use the forecasted financial statement method to forecast a balance sheet and income statement for December 31, 2019. The interest rate on all debt is 6%, and cash earns no interest income. Assume that all additional debt in the form of a line of credit is added at the end of the year, which means that you should base the forecasted interest expense on the balance of debt at the beginning of the year. Use the forecasted income statement to determine the addition to retained earnings. Assume that the company was operating at full capacity in 2018, that it cannot sell off any of its fixed assets, and that any required financing will be borrowed as notes payable. Also, assume that assets, spontaneous liabilities, and operating costs are expected to increase by the same percentage as sales. Determine the additional funds needed. Do not round intermediate calculations. Round your answers to the nearest dollar.
   Total assets: $  
   AFN: $  
2. 
   
3. What is the resulting total forecasted amount of the line of credit? Do not round intermediate calculations. Round your answer to the nearest dollar.
   $  
4. 
   
5. In your answers to Parts a and b, you should not have charged any interest on the additional debt added during 2019 because it was assumed that the new debt was added at the end of the year. But now suppose that the new debt is added throughout the year. Don't do any calculations, but how would this change the answers to parts a and b?
   If debt is added throughout the year rather than only at the end of the year, interest expense will be -Select-higherlowerItem 4 than in the projections of part a. This would cause net income to be -Select-higherlowerItem 5 , the addition to retained earnings to be -Select-higherlowerItem 6 , and the AFN to be -Select-higherlowerItem 7 . Thus, you would have to -Select-add insubtract fromItem 8 new debt.