Cik Halimah is an entrepreneur who owned HD Cleaning Services Enterprise (HDCSE). Cik Halimah appointed you to manage the accounting records. You have been asked to complete part of the accounting cycle as she would apply for a bank loan. The following transactions had taken place in the first month (January 2020) of her business operation. 1 January The following assets were contributed by Cik Halimah into the business: Cash RM50,000 Furniture and Fitting RM40,000 Office Equipment RM14,000 2 Purchased office supplies from JD Enterprise for RM600 cash. 6 Hired a part time worker to assist Cik Halimah with a salary of RM1,200 per month. 8 Paid insurance premium for six (6) months period for RM2,500 cash. 11 Performed cleaning services to her customers and received RM10,000 cash. 13 Purchased a van for RM25,000 by paying RM14,000 cash and the remaining balance was on account. 16 Cik Halimah used RM5,500 of HDCSE’s money for her vacation. 17 Paid RM4,000 for the transaction on 13 January. 22 Paid RM1,500 for utility bills. 27 Performed services to customers of RM15,000 and received RM7,000 cash. The remaining balance will be received in February 2020. 28 One of the customers paid HDCSE of RM10,000 for the services to be performed in February 2020. 30 Paid salary for RM1,200. REQUIRED: (a) Record the journal entry/entries for the above transactions during the month of January 2020. (Explanation is not required). (b) Post all relevant cash journal entries to the Cash Account ledger. Determine the Cash Account balance after all postings are completed.

Ms. Yuki is an entrepreneur who owned HO Cleaning Services Enterprise (HOCSE). Ms. Yuki appointed you to manage the accounting records. You have been asked to complete part of the accounting cycle as she would apply for a bank loan. The following transactions had taken place in the first month (January 2020) of her business operation.

1 January The following assets were contributed by Ms. Yuki into the business:

Cash RM50,000

Furniture and Fitting RM40,000

Office Equipment RM14,000

2 Purchased office supplies from JD Enterprise for RM600 cash.

6 Hired a part time worker to assist Ms. Yuki with a salary of RM1,200 per month

8 Paid insurance premium for six (6) months period for RM2,500 cash.

11 Performed cleaning services to her customers and received RM10,000 cash.

13 Purchased a van for RM25,000 by paying RM14,000 cash and the remaining balance was on account.

16 Ms. Yuki used RM5,500 of HOCSE’s money for her vacation.

17 Paid RM4,000 for the transaction on 13 January.

22 Paid RM1,500 for utility bills.

27 Performed services to customers of RM15,000 and received RM7,000 cash. The remaining balance will be received in February 2020

28 One of the customers paid HOCSE of RM10,000 for the services to be performed in February 2020.

30 Paid salary for RM1,200

Required:

(a) Record the journal entry/entries for the above transactions during the month of January 2020. (Explanation is not required).

(b) Post all relevant cash journal entries to the Cash Account ledger. Determine the Cash Account balance after all postings are completed

A social psychologist is interested in how optimism is related to life satisfaction. A sample of individuals categorized as optimistic were asked about past, present, and projected future satisfaction with their lives. Higher scores on the life satisfaction measure indicate more satisfaction. Below are the data. What can the psychologist conclude with α = 0.01?

a) What is the appropriate test statistic?
---Select--- na one-way ANOVA within-subjects ANOVA two-way ANOVA

b) Compute the appropriate test statistic(s) to make a decision about H₀.
critical value =  ; test statistic =  
Decision:  ---Select--- Reject H0 Fail to reject H0

c) Compute the corresponding effect size(s) and indicate magnitude(s).
η² =  ;  ---Select--- na trivial effect small effect medium effect large effect

d) Make an interpretation based on the results.

At least one of the temporal means is different on life satisfaction.None of the temporal means is different on life satisfaction.    

e) Conduct Tukey's Post Hoc Test for the following comparisons:
1 vs. 3: difference =  ; significant:  ---Select--- Yes No
2 vs. 3: difference =  ; significant:  ---Select--- Yes No

f) Conduct Scheffe's Post Hoc Test for the following comparisons:
2 vs. 3: test statistic =  ; significant:  ---Select--- Yes No
1 vs. 3: test statistic =  ; significant:  ---Select--- Yes No

Prahm Corp. wants to raise $5.3 million via a rights offering. The company currently has 590,000 shares of common stock outstanding that sell for $54 per share. Its underwriter has set a subscription price of $27 per share and will charge the company a spread of 6 percent. If you currently own 7,000 shares of stock in the company and decide not to participate in the rights offering, how much money can you get by selling your rights? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) Your proceeds from sale of rights

Bilboa Freightlines, S.A. of Panama has a small truck that it uses for local deliveries. The truck is in bad repair and must be either overhauled or replaced with a new truck. The company has assembled the following information (Panama uses the U.S. dollar as its currency):

If the company keeps and overhauls its present delivery truck, then the truck will be usable for eight more years. If a new truck is purchased, it will be used for eight years, after which it will be traded in on another truck. The new truck would be diesel-fuelled, resulting in a substantial reduction in annual operating costs, as shown above.

The company computes depreciation on a straight-line basis. All investment projects are evaluated using a 16% discount rate.

Click here to view Exhibit 10-1 and Exhibit 10-2, to determine the appropriate discount factor(s) using tables.

Required:

1-a. Determine the present value of net cash flows using the total-cost approach. (Negative amounts should be indicated with a minus sign. Round discount factor(s) to 3 decimal place.)

1-b. Should Bilboa Freightlines keep the old truck or purchase the new one?

multiple choice

• Purchase the new truck

• Keep the old truck

2. Using the incremental-cost approach, determine the net present value in favor of (or against) purchasing the new truck? (Negative amounts should be indicated with a minus sign. Round discount factor(s) to 3 decimal place.)

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Question 6 of 7 Total6 of 7

Bilboa Freightlines, S.A. of Panama has a small truck that it uses for local deliveries. The truck is in bad repair and must be either overhauled or replaced with a new truck. The company has assembled the following information (Panama uses the U.S. dollar as its currency):

    Present
Truck   New
Truck
Purchase cost new   $   49,000      $   68,500     
Remaining book value      34,000         -     
Overhaul needed now      14,500         -     
Annual cash operating costs      20,500         14,500     
Salvage value now      19,500         -     
Salvage value eight years from now      5,000         8,000     

If the company keeps and overhauls its present delivery truck, then the truck will be usable for eight more years. If a new truck is purchased, it will be used for eight years, after which it will be traded in on another truck. The new truck would be diesel-fuelled, resulting in a substantial reduction in annual operating costs, as shown above.

The company computes depreciation on a straight-line basis. All investment projects are evaluated using a 16% discount rate.

Click here to view Exhibit 10-1 and Exhibit 10-2, to determine the appropriate discount factor(s) using tables.

Required:

1-a. Determine the present value of net cash flows using the total-cost approach. (Negative amounts should be indicated with a minus sign. Round discount factor(s) to 3 decimal place.)

1-b. Should Bilboa Freightlines keep the old truck or purchase the new one?

multiple choice
Purchase the new truck
Keep the old truck

2. Using the incremental-cost approach, determine the net present value in favor of (or against) purchasing the new truck? (Negative amounts should be indicated with a minus sign. Round discount factor(s) to 3 decimal place.)

On January 1, 2018, Cameron Inc. bought 30% of the outstanding common stock of Lake Construction Company for $600 million cash. At the date of acquisition of the stock, Lake's net assets had a fair value of $800 million. Their book value was $700 million. The difference was attributable to the fair value of Lake's buildings and its land exceeding book value, each accounting for one-half of the difference. Lake’s net income for the year ended December 31, 2018, was $300 million. During 2018, Lake declared and paid cash dividends of $20 million. The buildings have a remaining life of 5 years.

Required:
1. Complete the table below and prepare all appropriate journal entries related to the investment during 2018, assuming Cameron accounts for this investment by the equity method.
2. Determine the amounts to be reported by Cameron.