Sarasota Windows manufactures and sells custom storm windows for three-season porches. Sarasota also provides installation service for the windows. The installation process does not involve changes in the windows, so this service can be performed by other vendors. Sarasota enters into the following contract on July 1, 2020, with a local homeowner. The customer purchases windows for a price of $2,440 and chooses Sarasota to do the installation. Sarasota charges the same price for the windows irrespective of whether it does the installation or not. The customer pays Sarasota $2,040 (which equals the standalone selling price of the windows, which have a cost of $1,130) upon delivery and the remaining balance upon installation of the windows. The windows are delivered on September 1, 2020, Sarasota completes installation on October 15, 2020, and the customer pays the balance due.

Sarasota estimates the standalone selling price of the installation based on an estimated cost of $420 plus a margin of 30% on cost.

Prepare the journal entries for Sarasota in 2020. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No entry" for the account titles and enter 0 for the amounts. Round answer to 0 decimal places, e.g. 5,125.)

show work and explain

1. Robert started an accounting firm in 2020 and organized as a partnership. Performance of services began on July 1, 2020. The following expenditures were associated with the partnership’s activities in 2020:
   
   

1. What is the total amount of the start-up costs expenditures? What is the total amount of organizational expenditures?
2. Ignore your answer in a. Assume that the total amount of start-up costs expenditure is $48,200 and the total amount of the organizational expenditure is $17,900. What amount of the start-up costs may the partnership immediately expense in 2020? What amount of the organizational expenditures may the partnership immediately expense in 2020?
3. Ignore your answer in a. Assume that the total amount of start-up costs expenditure is $48,200 and the total amount of the organizational expenditure is $17,900. Also, assume that the company immediately expensed $5,000 of start-up costs and $5,000 organizational cost. What amount can the partnership deduct as amortization expense for the organizational expenditures for 2020 (not including the amount it immediately expensed)? What amount can the partnership deduct as amortization expense for the start-up costs for 2020 (not including the amount it immediately expensed)?

Problem 13-12

Pronghorn Music Emporium carries a wide variety of musical instruments, sound reproduction equipment, recorded music, and sheet music. Pronghorn uses two sales promotion techniques—warranties and premiums—to attract customers.

Musical instruments and sound equipment are sold with a 1-year warranty for replacement of parts and labor. The estimated warranty cost, based on past experience, is 1% of sales.

The premium is offered on the recorded and sheet music. Customers receive a coupon for each dollar spent on recorded music or sheet music. Customers may exchange 200 coupons and $20 for an MP3 player. Pronghorn pays $33 for each player and estimates that 50% of the coupons given to customers will be redeemed.

Pronghorn’s total sales for 2020 were $7,570,000—$5,898,000 from musical instruments and sound reproduction equipment and $1,672,000 from recorded music and sheet music. Replacement parts and labor for warranty work totaled $97,500 during 2020 ($45,000 of the work is related to pre-2020 sales). A total of 6,340 players used in the premium program were purchased during the year and there were 1,126,000 coupons redeemed in 2020.

The balances in the accounts related to warranties and premiums on January 1, 2020, were as shown below.

Pronghorn Music Emporium is preparing its financial statements for the year ended December 31, 2020. Determine the amounts that will be shown on the 2020 financial statements for the following.

WildhorseCorporation is preparing earnings per share data for 2020. The net income for the year ended December 31, 2020 was $410,000 and there were 59,700 common shares outstanding during the entire year. Wildhorse has the following two convertible securities outstanding:

Both convertible securities were issued at face value in 2017. There were no conversions during 2020, and Wildhorse’s income tax rate is 22%. The preferred shares are cumulative. For simplicity, ignore the requirement to record the debt and equity components of the bonds separately.

Calculate Wildhorse’s basic earnings per share for 2020. (Round answer to 2 decimal places, e.g. 15.25.)

Bikes-R-Us Company

The company sponsors a defined benefit plan for its 200 employees. On January 1, 2020, the company’s actuary provided the following information:

Accumulated other comprehensive loss (PSC) $240,000

Pension plan assets (fair value and market-related asset value) 450,000

Accumulated benefit obligation $480,000

Projected benefit obligation $520,000

The average remaining service period for the participating employees is 6 years. All employees are expected to receive benefits under the plan. On December 31, 2020, the actuary calculated that the present value of future benefits earned for employee services rendered in the current year amounted to $62,000; the projected benefit obligation was $620,000; fair value of pension assets was $515,000; the accumulated benefit obligation amounted to $520,000. The expected return on plan assets and the discount dfevrate on the projected benefit obligation were both 6%. The actual return on plan assets is $15,000. The company’s current year’s contribution to the pension plan amounted to $50,000. No benefits were paid during the year.

(a) Determine the components of pension expense that the company would recognize in 2020. (With only one year involved,you need not prepare a worksheet.)

1(b) Prepare the journal entry to record the pension expense and the company’s funding of the pension plan in 2020.

(c) Compute the amount of the 2020 increase/decrease in gains or losses and the amount to be amortized in 2020 and 2021.

(d) Indicate the pension amounts reported in the financial statement as of December 31, 2020.

Python 3

A simple way to encrypt a file is to change all characters following a certain encoding rule. In this question, you need to move all letters to next letter. e.g. 'a'->'b', 'b'->'c', ..., 'z'->'a', 'A'->'B', 'B'->'C', ..., 'Z'->'A'. For all digits, you need to also move them to the next number. e.g. '0'->'1', '1'->'2', ..., '9'->'0'. All the other symbols should not be changed.

1. Write a function encrypt with the following requirements:

• the function takes a string argument, which is a file name.
• read the csv file.
• replace all characters uisng the rule above.
• write the content to a new file named "encrypted.csv".

2. Call the function with the file name "business-price-indexes-june-2020-quarter-csv-corrected.csv"

--2020-10-16 19:32:31-- https://www.stats.govt.nz/assets/Uploads/Business-price-indexes/Business-price-indexes-June-2020-quarter/Download-data/business-price-indexes-june-2020-quarter-csv-corrected.csv Resolving www.stats.govt.nz (www.stats.govt.nz)... 45.60.11.104 Connecting to www.stats.govt.nz (www.stats.govt.nz)|45.60.11.104|:443... connected. HTTP request sent, awaiting response... 200 OK Length: 11924606 (11M) [text/csv] Saving to: ‘business-price-indexes-june-2020-quarter-csv-corrected.csv’ business-price-inde 100%[===================>] 11.37M 4.56MB/s in 2.5s 2020-10-16 19:32:34 (4.56 MB/s) - ‘business-price-indexes-june-2020-quarter-csv-corrected.csv’ saved [11924606/11924606]

Schultz Electronics manufactures two large-screen television models: the Royale which sells for $1,600, and a new model, the Majestic, which sells for $1,300. The production cost computed per unit under traditional costing for each model in 2020 was as follows.

Assign overhead to products using ABC and evaluate decision.

In 2020, Schultz manufactured 25,000 units of the Royale and 10,000 units of the Majestic. The overhead rate of $38 per direct labor hour was determined by dividing total expected manufacturing overhead of $7,600,000 by the total direct labor hours (200,000) for the two models.

Under traditional costing, the gross profit on the models was Royale $552 or ($1,600 − $1,048), and Majestic $590 or ($1,300 − $710). Because of this difference, management is considering phasing out the Royale model and increasing the production of the Majestic model.

Before finalizing its decision, management asks Schultz’s controller to prepare an analysis using activity-based costing (ABC). The controller accumulates the following information about overhead for the year ended December 31, 2020.

The cost drivers used for each product were:

Instructions Please use an Excel spreadsheet for your answers, clearly marking the answers to each requirement (a) – (c)

a. Assign the total 2020 manufacturing overhead costs to the two products using activity-based costing (ABC) and determine the overhead cost per unit.

b. What was the cost per unit and gross profit of each model using ABC?

c. Are management’s future plans for the two models sound? Explain.