Tactex Controls Inc. Equity Section of the Balance Sheet December 31, 2019

Contributed capital: Preferred shares, $1.2 cumulative, unlimited shares authorized; 11,000 shares issued and outstanding $ 383,000

Common shares, unlimited shares authorized; 66,000 shares issued and outstanding 726,000

Total contributed capital $ 1,109,000

Retained earnings 369,000

Total equity $ 1,478,000

In 2020 and 2021, the company had the following transactions affecting shareholders and the equity accounts:

2020 Jan.

1 Sold 21,000 common shares at $9.74 per share.

5 The directors declared a total cash dividend of $222,000 payable on Feb. 28 to the Feb. 5 shareholders of record. Dividends had not been declared for the years 2018 and 2019. All of the preferred shares had been issued during 2018.

Feb. 28 Paid the dividends declared on January 5.

July 1 Sold preferred shares for a total of $155,900. The average issue price was $20 per share.

Dec. 31 Closed the dividend accounts along with the $575,900 credit balance in the Income Summary account.

2021 Sept. 5

The directors declared the required cash dividend on the preferred shares and a $0.5 per common share cash dividend payable on October 28 to the October 5 shareholders of record.

Oct. 28 Paid the dividends declared on September 5.

Dec. 31 Closed the Cash Dividends account along with the $542,300 credit balance in the Income Summary account.

Required:

1. Prepare journal entries to record the transactions and closings for 2020 and 2021. The company uses a cash dividends account to record declared dividends.

2. Prepare a statement of changes in equity for the year ended December 31, 2021. (Amounts to be deducted should be indicated by a minus sign.)

3. Prepare the equity section of the company’s balance sheet as of December 31, 2021.

Ryan and Robin met at Rockhurst university and after graduation in 2020; they decided to form a business to market American flags, “buy American” bumper stickers, and other similar merchandise. The merchandise would be manufactured in China and sold initially only in Missouri. Ryan wants to operate the business as a partnership; while Robin wants to organize the business as a regular C corporation. Limit your answers for the first two question to these two business forms (3 points each)

a) Explain Ryan’s position. Be specific.

b) Explain Robin’s position

They have decided initially to do business only in Missouri. Their medium range plan (in the next 5 years) is to do business in 30 American states. Their long-term plan (in the next 20 years) is to be a multinational public firm with shareholders all over the world.

1. What business form do you recommend for the short term? Why?

2. What business form do you recommend for the medium term? Why?

Company A has a market value of equity of $2,000 million and 80 million shares outstanding. Company B has a market value of equity of $400 million and 25 million shares outstanding. Company A announces at the beginning of 2019 that is going to acquire Company B.

The projected pre-tax gains in operating income (in millions of $) from the merger are:

The projected pre-tax gains in operating income are expected to grow at 4% after year 2023. The company is using a discount rate of 8% to value the synergies. The marginal corporate tax rate is 35%.

Company A has decided to pay a $300 million premium for Company B. Assume that capital markets are efficient and that there is a 100% probability the deal will be closed.

If Company A were to make a 100% stock offer for Company B, what would the exchange ratio be? Remember that the exchange ratio is the number of Company A’s shares that the shareholders of Company B will receive in exchange for each of their shares.

Sales Revenue is $1,000,000, Earnings Before Interest and Taxes is $400,000, and Earnings After Interest and Taxes is $300,000. Accounts Receivable is $50,000. The Average Collection Period is (assume a 365 day year):

For the following molecules draw their lewis structure, show their orbital diagrams before and after hybridization, determine what hybrid orbitals are formed in the molecule, and label the bonds in the lewis structure as sigma or pi bonds

CF2O

CH3(CH)2CH3

C2N2

CH3CCH

CHONH2

draw a picture of the two atomic oritals before they overlap H2, draw an orbital after they overlap?

discuss what events occur at the promotor after binding of the basal transcription factors and before elongation can completely begin

what are the things to do before, during, after    operation of mechanical rice transplanter ( walk behind type)

21customers were monitored before and after a large marketing campaign by a large retailer to determine if their spending increased after the campaign, compared to what the spent before the advertising campaign. (Use the 0.05 level of significance).

1. What is your null and alternative hypothesis?

2. What is you p-value?

3. What is the conclusion?