The plant asset and accumulated depreciation accounts of Pell Corporation had the following balances at December 31, 2017:

Transactions during 2018 were as follows:

On January 2, 2018, machinery and equipment were purchased at a total invoice cost of $255,000, which included a $5,400 charge for freight. Installation costs of $26,000 were incurred.

On March 31, 2018, a small storage building was donated to the company. The person donating the building originally purchased it three years ago for $24,000. The fair value of the building on the day of the donation was $16,400.

On May 1, 2018, expenditures of $49,000 were made to repave parking lots at Pell's plant location. The work was necessitated by damage caused by severe winter weather.

On November 1, 2018, Pell acquired a tract of land with an existing building in exchange for 10,000 shares of Pell’s common stock that had a market price of $37 per share. Pell paid legal fees and title insurance totaling $22,500. Shortly after acquisition, the building was razed at a cost of $34,000 in anticipation of new building construction in 2019.

On December 31, 2018, Pell purchased a small storage building by giving $15,000 cash and an old automobile purchased for $17,500 on January 1, 2017. Depreciation on the old automobile recorded through December 31, 2018, totaled $13,125. The fair value of the old automobile was $3,700.

Required:

For each asset classification, prepare a schedule showing depreciation for the year ended December 31, 2018, using the following depreciation methods and useful lives:

Land improvements—Straight line; 15 years.
Building—150% declining balance; 20 years.
Machinery and equipment—Straight line; 10 years.
Automobiles—150% declining balance; 3 years.

Depreciation is computed to the nearest month and no residual values are used. (Do not round intermediate calculations and round your final answers to 2 decimal places.)

Accounting for share capital

Rippa Ltd was incorporated on 1 July 2017. The following transactions and events occurred during the year ended 30 June 2018:

1 Jul 2017: Rippa Ltd makes an offer to the public for investors to subscribe for 5,000,000 shares, at an issue price of $4.00 per share, with $2.50 payable on application, $1.00 being payable within one month of allotment, and $0.50 payable on a call to be made at a later date. The issue is underwritten at a commission of $12,000.

31 Jul 2017: Applications close, with applications received for 6,000,000 shares.

10 Aug 2017: 5,000,000 shares are allotted in proportion to the number of shares for which applications had been made. The surplus application money is offset against the amount payable on allotment.

12 Aug 2017: The underwriter’s commission is paid.

10 Sep 2017: All allotment money is received.

1 Feb 2018: The call is made, with money due by 28 February 2018.

28 Feb 2018: All call money is received except for holders of 40,000 shares who fail to meet the call.

20 Mar 2018: The shares on which call money was not received are forfeited and sold as fully paid. An amount of $3.20 is received for each share sold. Costs of the forfeiture and reissue amount to $4,000, and are paid.

25 Mar 2018: The balance of the Forfeited Shares Account is returned to the former shareholders.

Required:

i) Prepare the journal entries to record the transactions of Rippa Ltd up to and including that which took place on 25 March 2018. Show all relevant dates and narrations.

ii) After returning money to the former shareholders on 25 March 2018, one of the former shareholders has contacted you in relation to the amount of money that he received. He tells you that he paid the application money and allotment money for the shares that he had, so he should get an amount back of $3.50 per share. Explain why the amount returned to the former shareholders was not $3.50 per share, and prepare workings to show how the refund per share was calculated.

Rippa Ltd was incorporated on 1 July 2017. The following transactions and events occurred during the year ended 30 June 2018:

1 Jul 2017: Rippa Ltd makes an offer to the public for investors to subscribe for 5,000,000 shares, at an issue price of $4.00 per share, with $2.50 payable on application, $1.00 being payable within one month of allotment, and $0.50 payable on a call to be made at a later date. The issue is underwritten at a commission of $12,000.

31 Jul 2017: Applications close, with applications received for 6,000,000 shares.

10 Aug 2017: 5,000,000 shares are allotted in proportion to the number of shares for which applications had been made. The surplus application money is offset against the amount payable on allotment.

12 Aug 2017: The underwriter’s commission is paid.

10 Sep 2017: All allotment money is received.

1 Feb 2018: The call is made, with money due by 28 February 2018.

28 Feb 2018: All call money is received except for holders of 40,000 shares who fail to meet the call.

20 Mar 2018: The shares on which call money was not received are forfeited and sold as fully paid. An amount of $3.20 is received for each share sold. Costs of the forfeiture and reissue amount to $4,000, and are paid.

25 Mar 2018: The balance of the Forfeited Shares Account is returned to the former shareholders.

Required:

i) Prepare the journal entries to record the transactions of Rippa Ltd up to and including that which took place on 25 March 2018. Show all relevant dates and narrations.

ii) After returning money to the former shareholders on 25 March 2018, one of the former shareholders has contacted you in relation to the amount of money that he received. He tells you that he paid the application money and allotment money for the shares that he had, so he should get an amount back of $3.50 per share. Explain why the amount returned to the former shareholders was not $3.50 per share, and prepare workings to show how the refund per share was calculated.

Problem 1. MACRS & Bonus Depreciation. “MMMM That’s Good, Inc.” (or MTG) owns a successful chain of over 150 casual dining restaurants nationwide. Please calculate the tax depreciation expense for 2018 for all of the assets listed below (which constitute all the new assets purchased or placed into service by MTG in 2018): (i) first using just MACRS AND then (ii) using Bonus Depreciation and MACRS.

(i) MTG purchases a building for a new restaurant on June 20, 2018 for $750,000. The land is worth $300,000. On September 15, 2018, MTG purchases new ovens/stoves, prep lines, refrigerators, and a dish washing machine (collectively the “Kitchen Equipment”) at a cost of $150,000. The restaurant is opened for business on September 30, 2018.

(ii) MTG updates its accounting and inventory management systems for 2015 by purchasing new computer hardware at a cost of $4,500 per store (total cost of $675,000). The computer equipment was all purchased on December 15, 2017 and placed into service on January 5, 2018.

(iii) In order to implement pilot testing for a new menu line at select locations, on December 3, 2018, MTG makes a bulk purchase of smoker machines for 30 of its restaurants at a cost of $25,000 each or a total cost of $750,000, and immediately installs the machines and begins use.

Problem 2.

IRC Section 179 & Elections. Assume MTG’s 179 deduction is not limited in 2018, but applying cost recovery using bonus depreciation pushes MTG into a tax loss and so management is looking to limit its total cost recovery to approximately $550,000. Please describe how you might utilize IRC section 179, bonus depreciation elections, & MACRS depreciation to achieve a total deduction for all cost recovery on new assets of $550,000 and then perform the calculation.

Problem 3.

Dispositions. Returning to the facts of Problem 1, if after the pilot testing MTG decided to sell all of the smoker machines on August 10, 2019 for $400,000, what would be the tax consequences including the amount and nature of any gain or loss?

Instructions:

Using Unix programming language and regular expressions,

1. how many unique ip addresses were seen note: we only want to look at ipv4 addresses
2. which was most commnly seen ip address
on the piece of access.log file below

66.249.75.132 - - [18/Jun/2018:06:41:00 -0500] "GET /~rcoleman/Common/History/Images/?C=N;O=D HTTP/1.1" 200 1976 "-" "Mozilla/5.0 (compatible; Googlebot/2.1; +http://www.google.com/bot.html)"
5.255.250.23 - - [18/Jun/2018:06:41:23 -0500] "GET /~rcoleman/Common/CodeVault/Code/DesignPatterns/Images/DP16-Builder.jpg HTTP/1.1" 304 182 "-" "Mozilla/5.0 (compatible; YandexImages/3.0; +http://yandex.com/bots)"
5.255.250.23 - - [18/Jun/2018:06:41:28 -0500] "GET /~rcoleman/CS121/CourseInfo/Images/WinExp.jpg HTTP/1.1" 304 180 "-" "Mozilla/5.0 (compatible; YandexImages/3.0; +http://yandex.com/bots)"
148.108.96.32 - - [18/Jun/2018:06:41:43 -0500] "GET /~rcoleman/Common/Basics/Images/ASCII_Table.jpg HTTP/1.1" 200 144715 "https://www.bing.com/" "Mozilla/5.0 (Windows NT 6.1; WOW64; rv:52.0) Gecko/20100101 Firefox/52.0"
5.255.250.23 - - [18/Jun/2018:06:42:41 -0500] "GET /~delugach/Courses/H399-01/License%20Agreement%20for%20Acrobat HTTP/1.1" 200 12667 "-" "Mozilla/5.0 (compatible; YandexBot/3.0; +http://yandex.com/bots)"
5.255.250.23 - - [18/Jun/2018:06:42:59 -0500] "GET /~rcoleman/Common/CodeVault/Code/DesignPatterns/Images/DP03-Decorator.jpg HTTP/1.1" 304 182 "-" "Mozilla/5.0 (compatible; YandexImages/3.0; +http://yandex.com/bots)"
49.36.1.71 - - [18/Jun/2018:06:43:22 -0500] "GET /favicon.ico HTTP/1.1" 301 4121 "https://www.cs.uah.edu/~rcoleman/Common/C_Reference/C++%20For%20DUMMIES.pdf" "Mozilla/5.0 (Windows NT 6.3; Win64; x64) AppleWebKit/537.36 (KHTML, like Gecko) Chrome/69.0.3452.0 Safari/537.36"
148.253.182.198 - - [18/Jun/2018:06:44:00 -0500] "GET /~rcoleman/CS121/ClassTopics/Images/Operators02.jpg HTTP/1.1" 200 54617 "https://www.bing.com/" "Mozilla/5.0 (Windows NT 6.3; WOW64; Trident/7.0; rv:11.0) like Gecko"
49.36.1.71 - - [18/Jun/2018:06:43:21 -0500] "GET /~rcoleman/Common/C_Reference/C++%20For%20DUMMIES.pdf HTTP/1.1" 200 8103354 "https://www.google.co.in/" "Mozilla/5.0 (Windows NT 6.3; Win64; x64) AppleWebKit/537.36 (KHTML, like Gecko) Chrome/69.0.3452.0 Safari/537.36"
66.249.75.130 - - [18/Jun/2018:06:44:42 -0500] "GET /~rcoleman/Common/History/Images/Pic20_ABC.jpg HTTP/1.1" 304 181 "-" "Googlebot-Image/1.0"
179.7.54.141 - - [18/Jun/2018:06:44:53 -0500] "GET /~rcoleman/Common/C_Reference/C++%20For%20DUMMIES.pdf HTTP/1.1" 200 8085570 "-" "Dalvik/2.1.0 (Linux; U; Android 7.0; SM-J730GM Build/NRD90M)"
175.158.232.110 - - [18/Jun/2018:06:45:58 -0500] "GET /~rcoleman/CS121/ClassTopics/Images/CompSys10.jpg HTTP/1.1" 200 217846 "https://www.google.com.ph/" "Mozilla/5.0 (Windows NT 6.1; WOW64) AppleWebKit/537.36 (KHTML, like Gecko) Chrome/52.0.2743.116 Safari/537.36"
5.255.250.23 - - [18/Jun/2018:06:46:03 -0500] "GET /~rcoleman/Common/SoftwareEng/Images/UML_01.jpg HTTP/1.1" 304 181 "-" "Mozilla/5.0 (compatible; YandexImages/3.0; +http://yandex.com/bots)"
5.255.250.23 - - [18/Jun/2018:06:46:23 -0500] "GET /~dhardin/cs_100/Animations/frmMoveBall_GUI.frm HTTP/1.1" 200 2066 "-" "Mozilla/5.0 (compatible; YandexBot/3.0; +http://yandex.com/bots)"
216.244.66.197 - - [18/Jun/2018:06:47:14 -0500] "GET /robots.txt HTTP/1.1" 301 577 "-" "Mozilla/5.0 (compatible; DotBot/1.1; http://www.opensiteexplorer.org/dotbot, [email protected])"
157.55.39.241 - - [18/Jun/2018:06:47:37 -0500] "GET /~rcoleman/Common/Basics/Images/Pointers03.jpg HTTP/1.1" 200 76104 "-" "Mozilla/5.0 (compatible; bingbot/2.0; +http://www.bing.com/bingbot.htm)"
41.190.3.133 - - [18/Jun/2018:06:47:51 -0500] "GET /~rcoleman/Common/History/History.html HTTP/1.1" 200 9592 "http://www.google.com/url?sa=t&rct=j&q=&esrc=s&source=web&cd=14&ved=0ahUKEwjNw_ODkt3bAhWkB8AKHfbUCMwQFghnMA0&url=http%3A%2F%2Fwww.cs.uah.edu%2F~rcoleman%2FCommon%2FHistory%2FHistory.html&usg=AOvVaw1na6HxGz_OCQSHXgI3jn1L" "Mozilla/5.0 (Windows NT 6.1; rv:36.0) Gecko/20100101 Firefox/36.0"
41.190.3.133 - - [18/Jun/2018:06:47:52 -0500] "GET /~rcoleman/Common/History/Images/Pic02_RomanAbacus.jpg HTTP/1.1" 200 43539 "http://www.cs.uah.edu/~rcoleman/Common/History/History.html" "Mozilla/5.0 (Windows NT 6.1; rv:36.0) Gecko/20100101 Firefox/36.0"
41.190.3.133 - - [18/Jun/2018:06:47:52 -0500] "GET /~rcoleman/Common/History/Images/Pic01_AncientTimes.jpg HTTP/1.1" 200 40097 "http://www.cs.uah.edu/~rcoleman/Common/History/History.html" "Mozilla/5.0 (Windows NT 6.1; rv:36.0) Gecko/20100101 Firefox/36.0"
41.190.3.133 - - [18/Jun/2018:06:47:52 -0500] "GET /~rcoleman/Common/History/Images/Pic03_JohnNapier.jpg HTTP/1.1" 200 39131 "http://www.cs.uah.edu/~rcoleman/Common/History/History.html" "Mozilla/5.0 (Windows NT 6.1; rv:36.0) Gecko/20100101 Firefox/36.0"
41.190.3.133 - - [18/Jun/2018:06:47:52 -0500] "GET /~rcoleman/Common/History/Images/Pic06_WilliamOughtred.jpg HTTP/1.1" 200 49153 "http://www.cs.uah.edu/~rcoleman/Common/History/History.html" "Mozilla/5.0 (Windows NT 6.1; rv:36.0) Gecko/20100101 Firefox/36.0"
41.190.3.133 - - [18/Jun/2018:06:47:52 -0500] "GET /~rcoleman/Common/History/Images/Pic05_SlideRule.jpg HTTP/1.1" 200 71314 "http://www.cs.uah.edu/~rcoleman/Common/History/History.html" "Mozilla/5.0 (Windows NT 6.1; rv:36.0) Gecko/20100101 Firefox/36.0"
41.190.3.133 - - [18/Jun/2018:06:47:53 -0500] "GET /~rcoleman/Common/History/Images/Pic04_NapiersBones.jpg HTTP/1.1" 200 53637 "http://www.cs.uah.edu/~rcoleman/Common/History/History.html" "Mozilla/5.0 (Windows NT 6.1; rv:36.0) Gecko/20100101 Firefox/36.0"

Project Outcomes:
Develop a python program that uses:
 decision constructs
 looping constructs
 basic operations on an list of objects (find, change, access all elements)
 more than one class and has multiple objects
Project Requirements:
1. Develop a simple Hotel program. We will have two classes, a Hotel class
representing an individual hotel and a Room class. The Hotel class will contain several
Room objects and will have several operations. We will also have a driver program to test
the Hotel class.
2. Build a Hotel class that will store information about a Hotel. It will include a name and
location. It should also include a list of class Room to hold information about each
room. It will also have a int called occupiedCnt that keeps track of how many rooms in
the hotel are occupied.
Specific Requirements for the Hotel Class:
1. The Hotel class has two constructors
1. __init__ function, will read in the hotel name and location from hard-coded
values in the tester class, such as Beach Marriot Pensacola, it will also assign
numOfRooms to zero.  numOfRooms indicates how many rooms are in the hotel.
It will create a 10 element array.

2. The Hotel will have an addRoom method that will create each room with the required
information: room number, bed type, smoking/non-smoking, and the room rate. Create at
least 5 rooms with different characteristics. Each room will also have a boolean field
called occupied attribute that will be set to false when the room is created. Don't forget
to increment the numOfRooms instance variable.  Example values for the rooms are:
101 queen s 100
102 king n 110
103 king n 88
104 twin s 100
105 queen n 99
3. The UML class diagram for the Hotel class will look like this:

Hotel

theRooms: Array Room[]
name: String
location: String
occupiedCnt: int
numOfRooms: int

def __init(self)__(String,String)
def isFull(self) : boolean
def isEmpty(self) : boolean
def addRoom(self ,roomnumber,bedtype,smoking,price)
def addReservation(self,occupantName ,smoking,
bedtype)
def cancelReservation(self,occupantName)
def findReservation(self,occupantName):
def printReservationList(self)
def getDailySales(self) :
def occupancyPercentage(self) :
Setters and getters methods for name and location.

4. isFull() – returns a boolean that is true if all the rooms in the hotel are occupied.
5. isEmpty() – returns a boolean that is true if all the rooms in the hotel are unoccupied.
6. The addReservation() method takes three parameters: the occupant’s name
(String), smoking or non-smoking request (char), and the requested bed type (String).
When this method is called, the hotel will search the list of its rooms for one that matches
the bed type and smoking/non-smoking attributes. If an unoccupied room with the correct
attributes is found, the renter's name will be set and the occupied attribute will be set
to true. In either case a message will be printed that will state whether or not the
reservation was made.
7. When the cancelReservation() method executes, the hotel will search for the
name of the visitor in each room. If it is found, the occupied attribute will be set to false.
In either case a message will state whether or not the reservation was cancelled. This
method calls the private utility method findReservation()to scan the list of rooms
looking for a guest by name. It will return the index of the room in the Array of rooms
or NOT_FOUND if the room is not found, which will be declared as:
NOT_FOUND = -1;
8. findReservation() will take in a String representing the occupant’s name and
search the occupied rooms for a reservation with that person’s name. It will return the
index of the room or NOT_FOUND if not found.
9. printReservationList() will scan through all the rooms and display all details
for only those rooms that are occupied. For example:

Room Number: 102
Occupant name: Pinto
Smoking room: n
Bed Type: king
Rate: 110.0
Room Number: 103
Occupant name: Wilson
Smoking room: n
Bed Type: king
Rate: 88.0
10. getDailySales() will scan the room list, adding up the dollar amounts of the room
rates of all occupied rooms only.
11. occupancyPercentage() will divide occupiedCnt by the total number of rooms to
provide an occupancy percentage.
12. __str__ – returns a nicely formatted string giving hotel and room details (by calling
the __str__ in the Room class) for all the rooms in the hotel. For example:
Hotel Name : Beach Marriot
Number of Rooms : 5
Number of Occupied Rooms : 1

Room Details are:

Room Number: 101
Occupant name: Not Occupied
Smoking room: s
Bed Type: queen
Rate: 100.0
Room Number: 102
Occupant name: Coffey
Smoking room: n
Bed Type: king
Rate: 110.0
Room Number: 103
Occupant name: Wilson
Smoking room: n
Bed Type: king
Rate: 88.0
Room Number: 104
Occupant name: Not Occupied

Smoking room: s
Bed Type: twin
Rate: 100.0
Room Number: 105
Occupant name: Not Occupied
Smoking room: n
Bed Type: queen
Rate: 99.0

13. The Room class diagram will look like this:

Room

roomNum: int
bedType: String
rate: double
occupantName: String
smoking: char
occupied: boolean
def __init__(int,String,char,double)
def getBedType(): String
def getSmoking(): char       
def getRoomNum(): int
def getRoomRate(): double
def getOccupant(): String
def setOccupied(boolean)
def setOccupant(String)
def setRoomNum(int)
def setBedType(String)
def setRate(double)
def setSmoking(char)
def isOccupied(): boolean

1. The __init__() for a Room takes an int (room number), String (bed type), char (s or n for
smoking or non-smoking)), and a double (room rate).
2. isOccupied() method returns true if the room is occupied, false otherwise.

3. __str__() provides all the details of a room - room number, name of guest(if
occupied) , bed type, smoking/non-smoking, rental rate. This should all be formatted
nicely with one attribute on each line using the '\n' escape character. See example above.
4. Several accessor and mutator methods for the Room class.

# Use list to store the room details.
You have to store required data in the list/database. You can store hotel name, address, and
all rooms. Customer data in database tables.

Milea Inc. experienced the following events in 2018, its first year of operations:

1. Received $14,500 cash from the issue of common stock.
2. Performed services on account for $45,000.
3. Paid the utility expense of $1,200.
4. Collected $30,150 of the accounts receivable.
5. Recorded $7,100 of accrued salaries at the end of the year.
6. Paid a $1,100 cash dividend to the stockholders.

2. Prepare the income statement, statement of changes in stockholders’ equity, balance sheet, and statement of cash flows for the 2018 accounting period.

• Req B1
• Req B2
• Req B3
• Req B4

Prepare the income statement.

• Req B2
• Req B3
• Req B4

Prepare the statement of changes in stockholders’ equity.

Prepare the balance sheet.

Prepare the statement of cash flows for the 2018 accounting period. (Amounts to be deducted should be indicated with a minus sign.)

Exercise 17-16 Blue Inc. acquired 20% of the outstanding common stock of Theresa Kulikowski Inc. on December 31, 2017. The purchase price was $1,178,400 for 49,100 shares. Kulikowski Inc. declared and paid an $0.90 per share cash dividend on June 30 and on December 31, 2018. Kulikowski reported net income of $702,000 for 2018. The fair value of Kulikowski’s stock was $27 per share at December 31, 2018. Assume that the security is a trading security. Prepare the journal entries for Blue Inc. for 2017 and 2018, assuming that Blue cannot exercise significant influence over Kulikowski. (Credit account titles are automatically indented when 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.) Date Account Titles and Explanation Debit Credit (To record dividend.) (To record fair value.) SHOW LIST OF ACCOUNTS LINK TO TEXT LINK TO TEXT Prepare the journal entries for Blue Inc. for 2017 and 2018, assuming that Blue can exercise significant influence over Kulikowski. (Credit account titles are automatically indented when 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.) Date Account Titles and Explanation Debit Credit (To record dividend.) (To record revenue.) SHOW LIST OF ACCOUNTS LINK TO TEXT LINK TO TEXT At what amount is the investment in securities reported on the balance sheet under each of these methods at December 31, 2018? What is the total net income reported in 2018 under each of these methods? Fair Value Method Equity Method Investment amount (balance sheet) $ $ Dividend revenue (income statement) Unrealized holding gain (income statement) Investment income (income statement)

Ivanhoe Ltd. purchased a new machine on April 4, 2014, at a cost of $188,000. The company estimated that the machine would have a residual value of $18,000. The machine is expected to be used for 10,000 working hours during its four-year life. Actual machine usage was 1,400 hours in 2014; 2,200 hours in 2015; 2,300 hours in 2016; 2,100 hours in 2017; and 2,000 hours in 2018. Ivanhoe has a December 31 year end.

Required information

[The following information applies to the questions displayed below.]

Dowell Company produces a single product. Its income statements under absorption costing for its first two years of operation follow.

Additional Information

1. Sales and production data for these first two years follow.

2. Variable cost per unit and total fixed costs are unchanged during 2018 and 2019. The company's $29 per unit product cost consists of the following.

3. Selling and administrative expenses consist of the following.

1. Prepare income statements for the company for each of its first two years under variable costing. (Loss amounts should be entered with a minus sign.)

2. Prepare a table as in Exhibit 6.12 to convert variable costing income to absorption costing income for both 2018 and 2019. (Loss amounts should be entered with a minus sign.)