Melisa was distraught. While her grandfather was getting on in years his loss had come as a shock late that Friday afternoon. She could think of no immediate family to contact and wandered her apartment wondering what to do. Finally at 9pm she realized she would have to do something so she called the closest funeral home to her grandfather ‘Lost Days Funeral Home’. Not expecting an answer so late she left a message hoping to hear back from them after the weekend. She was shocked to have the owner of Lost Days call her back within minutes. After 10pm on a Friday when most businesses should be closed! Susan (the owner of Lost Days) quickly put Melisa’s concerns to rest outlining a plan for the funeral (location and space for the religious service of her choice, cremation or burial of her grandfather, help with writing an obituary (article about her grandfather’s demise) and placing it in the local paper, organizing the wake (gathering of friends and family after the funeral), catering for the wake and even offered to help with a lawyer to assist in her role as executor (being responsible to act on the disposition of her grandfather’s possessions as outlined in his will). Now, instead of having a grief filled weekend with the stress of a funeral to arrange Melisa was now able to spend it recounting her fond memories of her grandfather.

based on the case study answer the following question:

Explain what you believe to be the need being satisfied, solution being offered or problem being solved by the funeral home from the purchaser’s perspective and why you believe this to be so.

On October 15, 2016, Koala, Inc. issued a 10 year bond (with a typical $1000 face value) that had an annual coupon value of $60.  [We are assuming that the 2020 coupon has just been redeemed.]

• Initially, the bond was sold for the premium price of $1,025.
• On October 15, 2020, this bond was selling for only $975.
• The market rate of interest for a riskless corporate bond, of this maturity, was 4.5% on October 15, 2016, which reflects market expectations about future rates of inflation.
• The market rate of interest for a riskless corporate bond, of this maturity, was 4.0% on October 15, 2020, which reflects market expectations about future rates of inflation.

1.  What was the nominal yield on this bond on October 15, 2016?  [To 1 decimal place.]

2.  What was the current yield on this bond on October 15, 2016?  [To 2 decimal places.]

3.  What was the yield to maturity for this bond on October 15, 2016?  [To 3 decimal places.]

4.  What was the risk premium for this bond on October 15, 2016?  [To 3 decimal places.]

5.  What was the nominal yield on this bond on October 15, 2020?  [To 1 decimal place.]

6.  What was the current yield on this bond on October 15, 2020?  [To 2 decimal place.]

7.  What was the yield to maturity for this bond on October 15, 2020?  [To 3 decimal places.]

8.  What was the risk premium for this bond on October 15, 2020?  [To 3 decimal places.]

9.  It is now October 15, 2020 and suddenly the Federal Reserve announces a massive program to reduce inflation.  Instantly, the market rate of interest for a riskless corporate bond that would apply to this bond, falls from 4.0% to 2.5%.  If there is no change in the risk premium expected for this Koala, Inc. bond, what will be this bond’s yield to maturity?  [To 3 decimal places.]

Following are selected balance sheet accounts of Windsor Bros. Corp. at December 31, 2020 and 2019, and the increases or decreases in each account from 2019 to 2020. Also presented is selected income statement information for the year ended December 31, 2020, and additional information.

Additional information:

Determine the category (operating, investing, or financing) and the amount that should be reported in the statement of cash flows for the following items.

Following are selected balance sheet accounts of Pharoah Bros. Corp. at December 31, 2020 and 2019, and the increases or decreases in each account from 2019 to 2020. Also presented is selected income statement information for the year ended December 31, 2020, and additional information.

Additional information:

Determine the category (operating, investing, or financing) and the amount that should be reported in the statement of cash flows for the following items.

The balance date for this company is 31^st March 2020. You are to record the effect of each transaction on the extended accounting equation using the table on the next page (page 5). Include all balance day adjustments where applicable. The first example illustrates how you would record the answers on the table.

1. Purchased inventory for $55,000. Paid half upon the receipt of the inventory and the remainder on credit.

1. Depreciate the equipment at balance date. Cost of equipment is $40,000 and the expected salvage value at the end of 5 years is $5,000. The equipment was purchased on 1^st September 2019. Use the straight line depreciation for this business.

2. Sold an old equipment for $12,000. The cost of the equipment was $50,000 and it has an accumulated depreciation to date of $42,000.

3. Paid the supplier promptly as a 10% discount was offered for an amount owing of $10,000.

4. Paid the annual insurance of $24,000 on 1^st Feb 2020.

5. Invested $20,000 with the bank on 1^st January 2020 with an interest rate of 3.5% per annum. The interest was shown in the business bank account on 2^nd April 2020.

6. Sold inventory on credit for $17,000 (cost is $9,000).

7. Weekly wages of $50,000 was paid on 3^rd April 2020. The wages was for the period 29^th March to 2^nd April 2020.

8. Repaid the bank loan: $50,000 principal and $4,000 interest.

1. Received from debtor the full amount owing of $17,000 less 3% discount for early repayment.

10. Received $5,000 deposit from a supplier on 1^st March 2020 for the sale of inventory to be delivered on 7^th April 2020.

11. Dividends paid to the owners of $2,000.

Extended Accounting Equation: Asset + Expenses = Liabilities + Equity + Revenue

Cecil C. Seymour is a 64-year-old widower. He had income for 2020 as follows:Pension from former employer$39,850Interest income from Alto National Bank5,500Interest income on City of Alto bonds4,500Dividends received from IBM stock held for over one year2,000Collections on annuity contract he purchased from Great Life Insurance5,400Social Security benefits14,000Rent income on townhouse9,000The cost of the annuity was $46,800, and Cecil was expected to receive a total of 260 monthly payments of $450. Cecil has received 22 payments through 2020.Cecil’s 40-year-old daughter, Sarah C. Seymour, borrowed $60,000 from Cecil on January 2, 2020. She used the money to start a new business. Cecil does not charge her interest because she could not afford to pay it, but he does expect to collect the principal eventually. Sarah is living with Cecil until the business becomes profit-able. Except for housing, Sarah provides her own support from her business and $1,600 in dividends on stocks that she inherited from her mother.Other relevant information is presented below.•             Expenses on rental townhouse:Utilities$2,800Maintenance1,000Depreciation2,000Real estate taxes750Insurance700• State income taxes paid: $3,500•              County personal property taxes paid: $3,100•         Payments on estimated 2020 Federal income tax: $5,900•               Charitable contributions of cash to Alto Baptist Church: $7,400• Federal interest rate: 6%•            Sales taxes paid: $912Compute Cecil’s 2020 Federal income tax payable (or refund due)."

requirement

1) What is the 2020 Adjusted Gross Income for Cecil Seymour?

2) What is the 2020 taxable income for Cecil Seymour?
3) What is the 2020 balance due or (refund) for Cecil Seymour?

Following are selected balance sheet accounts of Sheridan Bros. Corp. at December 31, 2020 and 2019, and the increases or decreases in each account from 2019 to 2020. Also presented is selected income statement information for the year ended December 31, 2020, and additional information.

Additional information:

Determine the category (operating, investing, or financing) and the amount that should be reported in the statement of cash flows for the following items.

Following are selected balance sheet accounts of Headland Bros. Corp. at December 31, 2020 and 2019, and the increases or decreases in each account from 2019 to 2020. Also presented is selected income statement information for the year ended December 31, 2020, and additional information.

Additional information:

Determine the category (operating, investing, or financing) and the amount that should be reported in the statement of cash flows for the following items.

There are different perspectives on human population growth and the dynamics associated with population change. Go to CIA World Factbook website and one developing country and compare the following and answer the questions:

Example of a developed country: China

• Population growth rate: 0.32 percent year 2020 estimation, rank 170 in the whole world
• Birth rate: 11.6 births per 1000 people 2020 estimation, rank 168 in the whole world
• Death rate: 8.2 deaths per 1000 people 2020 estimation, rank 85 in the whole world
• Net migration rate: 0.4 migrant (s) per 1000 people 2020 estimation, rank 123 in the whole world

Example of a developing country: Sudan

• Population growth rate: 2.69 percent year 2020 estimation, rank 17 in the whole world
• Birth rate: 33.8 births per 1000 people 2020 estimation, rank 23 in the whole world
• Death rate: 6.5 deaths per 1000 people 2020 estimation, rank 144 in the whole world
• Net migration rate: 0.4 migrant (s) per 1000 people 2020 estimation, rank 125 in the whole world

Please help me answer the following questions with the information I have provided above.

1.      Why do you think the population is increasing or decreasing for that country? Try to explain at least two reasons as to why this is happening?

2.      How do diseases affect the population? Can you think about any diseases that have affected the human population? (Please use peer reviewed sources to support your answer).

3.      Looking at the countries you compared, what are the toxins present in the environment that impact human health? Provide one example for each country.

Icebreaker Company (a U.S.-based company) sells parts to a foreign customer on December 1, 2020, with payment of 34,000 dinars to be received on March 1, 2021. Icebreaker enters into a forward contract on December 1, 2020, to sell 34,000 dinars on March 1, 2021. The forward points on the forward contract are excluded in assessing hedge effectiveness and are amortized to net income using a straight-line method on a monthly basis. Relevant exchange rates for the dinar on various dates are as follows:

Icebreaker must close its books and prepare financial statements at December 31.

Company purchases materials from a foreign supplier on December 1, 2020, with payment of 34,000 dinars to be made on March 1, 2021. The materials are consumed immediately and recognized as cost of goods sold at the date of purchase. On December 1, 2020, Brandlin enters into a forward contract to purchase 34,000 dinars on March 1, 2021.

1. a-1. Assuming that Icebreaker designates the forward contract as a cash flow hedge of a foreign currency payable, prepare journal entries for the import purchase and foreign currency forward contract in U.S. dollars.

2. a-2. What is the impact on 2020 net income?

3. a-3. What is the impact on 2021 net income?

4. a-4. What is the impact on net income over the two accounting periods?

5. b-1. Assuming that Icebreaker designates the forward contract as a fair value hedge of a foreign currency payable, prepare journal entries for the import purchase and foreign currency forward contract in U.S. dollars.

6. b-2. What is the impact on net income in 2020 and in 2021?

7. b-3. What is the impact on net income over the two accounting periods?