Question # 3   Answer each of the following independent questions.

1. On Jan. 10, 2015 AIE Co. bought a plant asset with a cost of $216,000, estimated life of 6 years, and residual value of $36,000, is depreciated by the straight-line method. On Oct. 19, 2019 The asset was sold for $116,000. Required: Determine the amount of gain or loss to be recognized on this sale. Explain how the sale would be reported in the financial statements of AIE Co.

2. At the beginning of 2017 TW Co. reported Supplies on hand balance of $400. During 2017 TW Co. purchased additional supplies for $1,100. Physical count at the end of 2017 revealed a balance of $250 worth of supplies. Show how TW Co. would report the supplies related accounts in the income statement and balance sheet at the end of 2017?

3. During 2016, Dubai Theatre bought projection equipment on installment basis. The contract price was $23,610, payable $5,610 down, and $2,250 a month for the next eight months. The cash price for this equipment was $22,530. Additional $850 were paid for wiring & ventilation work. The costs of running the projection equipment during 2016 was $450. Determine the cost at which the Projection equipment will be recorded in the books of Dubai Theatre.

Mall Toys Co. is considering a three-year project that will require an initial investment of $43,500. If market demand is strong, Mall Toys Co. thinks that the project will generate cash flows of $28,500 per year. However, if market demand is weak, the company believes that the project will generate cash flows of only $1,500 per year. The company thinks that there is a 50% chance that demand will be strong and a 50% chance that demand will be weak. If the company uses a project cost of capital of 10%, what will be the expected net present value (NPV) of this project? -$5,267 -$6,50 -$6,197 -$5,887 Mall Toys Co. has the option to delay starting this project for one year so that analysts can gather more information about whether demand will be strong or weak. If the company chooses to delay the project, it will have to give up a year of cash flows, because the project will then be only a two-year project. However, the company will know for certain if the market demand will be strong or weak before deciding to invest in it. What will be the expected NPV if Mall Toys Co. delays starting the project? $27,375 $5,421 $2,304 $2,710 What is the value of Mall Toys Co.’s option to delay the start of the project?

venue and cash receipts journals; accounts receivable subsidiary and general ledgers Transactions related to revenue and cash receipts completed by Crowne Business Services Co. during the period April 2–30 are as follows: Apr. 2. Issued Invoice No. 793 to Ohr Co., $4,680. Apr. 5. Received cash from Mendez Co. for the balance owed on its account. Apr. 6. Issued Invoice No. 794 to Pinecrest Co., $1,990. Apr. 13. Issued Invoice No. 795 to Shilo Co., $3,450. Post revenue and collections to the accounts receivable subsidiary ledger. Apr. 15. Received cash from Pinecrest Co. for the balance owed on April 1. Apr. 16. Issued Invoice No. 796 to Pinecrest Co., $5,500. Post revenue and collections to the accounts receivable subsidiary ledger. Apr. 19. Received cash from Ohr Co. for the balance due on invoice of April 2. Apr. 20. Received cash from Pinecrest Co. for balance due on invoice of April 6. Apr. 22. Issued Invoice No. 797 to Mendez Co., $7,470. Apr. 25. Received $3,200 note receivable in partial settlement of the balance due on the Shilo Co. account. Apr. 30. Received cash from fees earned, $12,890. Post revenue and collections to the accounts receivable subsidiary ledger.

1. Insert the following balances in the general ledger as of April 1:

After completing the recording of the transactions in the journals in part 3, total each of the columns of the special journals, and post the individual entries and totals to the general ledger. Insert account balances after the last posting. When posting to the general ledger, post in chronological order. However, if there is more than one entry on the same date, be sure to post transactions from the revenue journal before posting transactions from the cash receipts journal.

If an amount box does not require an entry, leave it blank. In CNOW, Journal pages begin with “J”, Cash Receipts begin with “CR” and Cash Receipts begins with “R”. For example journal/ Cash Receipts/ Cash Receipts, page 1/36/40 respectively. POST. REF. is simply J1, CR36, and R40.

1)create general ledger

  Insert the following balances in the accounts receivable subsidiary ledger as of April 1:

After completing the recording of the transactions in the journals in part 3, post to the accounts receivable subsidiary ledger, in chronological order and insert the balances at the points indicated in the narrative of transactions. Determine the balance in the customer's account before recording a cash receipt. If an amount box does not require an entry, leave it blank. In CNOW, Journal pages begin with “J”, Cash Receipts begin with “CR” and Cash Receipts begins with “R”. For example journal/ Cash Receipts/ Cash Receipts, page 1/36/40 respectively. POST. REF. is simply J1, CR36, and R40.

2) create accounts receivable subsidiary ledger

Prepare a single-column revenue journal (p. 40) and a cash receipts journal (p. 36). Use the following column headings for the cash receipts journal: Fees Earned Cr., Accounts Receivable Cr., and Cash Dr. The Fees Earned column is used to record cash fees.

4. Using the two special journals and the two-column general journal (p. 1), journalize the transactions for April. Post to the accounts receivable subsidiary ledger, and insert the balances at the points indicated in the narrative of transactions. Determine the balance in the customer’s account before recording a cash receipt.

5. Total each of the columns of the special journals and post the individual entries and totals to the general ledger. Insert account balances after the last posting.

If an amount box does not require an entry, leave it blank.

6) what is the sum of the customer balance?

7)Does the sum of the customer balances agree with the accounts receivable controlling account in the general ledger?

8)Would an automated system omit postings to a controlling account as performed in step 5 for Accounts Receivable?

If it is true that the CPI overstates how serious the cost of living has been increasing in America, then what are the implications for what really has happened to the average wage of a manufacturing worker in the US since 1980? (It would be useful to look up the nominal wage – that is, the wage unadjusted for inflation – in 1980 and as recently as you can find it, which should be March 2018. And then you might think how you can convert nominal wages into “real” wages using the CPI).

On March 15, 2018, Bank of America issued 94,000 shares of 5.875% Fixed-to-Floating Rate Non-Cumulative Preferred Stock, Series FF for $2.35 billion. Dividends are payable semiannually on or about March 15 and September 15.

a. Assume the stock was issued at face value. What is the face value of each Series FF share?

b. What will be the total dividend for the year ended December 31, 2018, assuming that the number of shares remains unchanged?

John Iceland, Chapter 6: “The Great Recession.” In Poverty in America: A Handbook, 3/ed. Berkeley, CA: University of California Press, 2013

Note in the outline below, item III: Consequences of the Great Recession, select one of the three subsections (A, B, or C) and write a short summary.

Outline of Chapter 6: The Great Recession

1. Introduction
2. Causes of the Great Recession
3. Consequences of the Great Recession

1. Macroeconomic Effects
2. Effects of the Recession on Poverty
3. The Politics of the Great Recession

4. Conclusion

1. To raise money through a repurchase agreement what does a bank need to have?

2. The federal funds market is best described as:

3. As of Dec 2019 the market cap of Bank of America was:

1. In 2015, Apple, Bank of America, Coca-Cola, Google, Microsoft, and other Fortune 500 companies signed a pledge to take measures to curb greenhouse gas emissions and invest in clean energy.85 Others, such as Nike and Procter & Gamble, announced plans to switch to sourcing 100% renewable energy. Relating the situation what could be the SMART goals and how can they be implemented through management by objectives and goal cascading?( 5 Points x 1 = 5 Marks)

Python programming problem!

Suppose that there is a json file called data from the desktop. I want to print the value with the key of "year" and "country".

Json file below:

{

"A":{

"year":11,

"grade":A,

"country":America},

"B":{

"year":18,

"grade":C,

"country":England},

"C":{

"year":19,

"grade":B,

"country":China},}

I want a code that I can only replace the name of key from year to grade and the code could be work.