Assume that you purchased a share of the Company at the beginning of 2018 for $54.58. One year later the stock was worth $53.53, but during 2018 you received a cash dividend of $2.32

Calculate the following:

1. Income

2. Capital gain (loss)

3. Total return – a. in dollars; b. as a percent

On January 1, 2017, Corgan Company acquired 70 percent of the outstanding voting stock of Smashing, Inc., for a total of $1,155,000 in cash and other consideration. At the acquisition date, Smashing had common stock of $840,000, retained earnings of $390,000, and a noncontrolling interest fair value of $495,000. Corgan attributed the excess of fair value over Smashing's book value to various covenants with a 20-year remaining life. Corgan uses the equity method to account for its investment in Smashing.Net IncomeDividends DeclaredInventory Purchases from Corgan2017$290,000$49,000$240,0002018270,00059,000260,000Corgan sells inventory to Smashing using a 60 percent markup on cost. At the end of 2017 and 2018, 40 percent of the current year purchases remain in Smashing's inventory.A.

Compute the equity method balance in Corgan's Investment in Smashing, Inc., account as of December 31, 2018.B. Prepare the worksheet adjustments for the December 31, 2018, consolidation of Corgan and Smashing.Compute the equity method balance in Corgan's Investment in Smashing, Inc., account as of December 31, 2018.Investment balance 12/31/18Prepare the worksheet adjustments for the December 31, 2018, consolidation of Corgan and Smashing. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)

1. Renfrow Laboratories purchased $50,000 of bonds on July 1, 2018, priced to yield 8%. The stated interest rate on the bonds is 7%. Interest is paid quarterly on March 31, June 30, September 30, and December 31. The bonds mature on June 30, 2028. The bonds are classified as available-for-sale securities. The fair value of the bonds on December 31, 2018, is $52,500.

   What is the purchase price of the bonds on July 1, 2018? What is the amortized cost of the bonds on December 31, 2018? What is the amount of the net investment shown on Renfrow’s balance sheet on December 31, 2018?

   		Bond purchase price: $46,645 Amortized cost: $46,759 Net investment shown on balance sheet: $52,500
   		Bond purchase price: $46,581 Amortized cost: $46,695 Net investment shown on balance sheet: $52,500
   		Bond purchase price: $46,581 Amortized cost: $46,814 Net investment shown on balance sheet: $52,500
   		Bond purchase price: $46,581 Amortized cost: $46,695 Net investment shown on balance sheet: $46,695
   		Bond purchase price: $46,645 Amortized cost: $46,759 Net investment shown on balance sheet: $46,759
   		None of the other answer choices is correct.

The average, urban family of four in the peculiar country of Rushland consumes only three goods: slices of pizza, beef tacos, and banana muffins. The table below provides the quantities of these goods that the average, urban family of four consumed and the price of each good in 2017, 2018, and 2019.

Suppose that 2017 is the base year, and that the CPI basket is comprised of the quantities of these goods that the average, urban family of four consumed in 2017.

Calculate the: 1) CPI in each of the three years, and 2) the inflation rate in 2018 and 2019. Additionally, identify whether the price level has fallen or risen in 2018 and 2019, and explain whether inflation or deflation has occurred in 2018 and 2019. Your submission should explain the process of completing your calculations, but you do not need to provide the actual formulas or calculations themselves. Round all answers to the nearest one-hundredth (one-hundredth of one-percent, for answers that are percentages).

ABC Ltd commenced operations on 25 September 2016 by issuing 350 000 $5.00 shares, payable in full on application on a first-come, first-served basis. By 30 November 2016 the shares were fully subscribed and duly allotted. There were share issue costs of $10 000. No additional shares were issued during the year ending 30 June 2017. 75 000 fully paid ordinary shares have been issued on 1 October 2017 at the price of $4.00. $135 000 dividends (31.76 cents per share) were declared and paid during the 2018 financial year. A final dividend for 2018 of $51 850 was proposed but not recognised in the financial statements. There was a gain of $20 000 from the cash flow hedge arrangement during the 2018 financial year. Any gain or loss associated with the cash flow hedge is directly recognised in equity. There was no previously recognised cash flow hedge reserve before the 2018 financial year. Q1.What would be the share capital for 2018 to be put in Trial Balance? Q2. How to treat the gain of $20000 from the cash flow hedge in the Trial Balance. Please help

Overall Materiality Calculation- Example 1

Use the guidelines for Willis and Adams for the materiality bases and their respective ranges.  You have been tasked with determining the overall materiality assessment for your audit client, TechToys for the year-ended 2018.  You have begun your planning procedures in July of 2018. The client has provided you with the actual pretax income for the first quarter 2018 ($4 million) and the second quarter 2018 ($10 million).  TechToys expects pretax income to remain stable for the third quarter.  It also expects an increase of 30% from the third to fourth quarter for the holiday season.  This growth is consistent with the prior year pretax income, which has been steadily increase 2-3% each year.   Assets at June 30, 2018 are $10 billion and revenues are forecasted to be $200 million for the year.  Assets and revenues also remain stable year over year.

In addition, the below lists provides some information regarding you client, ABC Company:

The entity is publicly traded and is regulated entity.

A material audit differences was identified in the prior year.

The technology space for tech gadgets, such as the fitness watch, has begun to decline in the past year.

On January 4, 2018, Runyan Bakery paid $360 million for 10 million shares of Lavery Labeling Company common stock. The investment represents a 30% interest in the net assets of Lavery and gave Runyan the ability to exercise significant influence over Lavery's operations. Runyan received dividends of $4.50 per share on December 15, 2018, and Lavery reported net income of $330 million for the year ended December 31, 2018. The market value of Lavery's common stock at December 31, 2018, was $32 per share. On the purchase date, the book value of Lavery's net assets was $980 million and: The fair value of Lavery's depreciable assets, with an average remaining useful life of six years, exceeded their book value by $80 million. The remainder of the excess of the cost of the investment over the book value of net assets purchased was attributable to goodwill. Required: 1. Prepare all appropriate journal entries related to the investment during 2018, assuming Runyan accounts for this investment by the equity method. 2. Prepare the journal entries required by Runyan, assuming that the 10 million shares represent a 10% interest in the net assets of Lavery rather than a 30% interest.

Exercise 10-31 Software development costs [LO10-8]

Early in 2018, the Excalibur Company began developing a new software package to be marketed. The project was completed in December 2018 at a cost of $11,000,000. Of this amount, $9,000,000 was spent before technological feasibility was established. Excalibur expects a useful life of five years for the new product with total revenues of $15,000,000. During 2019, revenue of $6,000,000 was recognized.

Required:
1. Prepare a journal entry to record the 2018 development costs.
2. Calculate the required amortization for 2019.
3. At what amount should the computer software costs be reported in the December 31, 2019, balance sheet?

Prepare a journal entry to record the 2018 development costs. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)

Journal entry worksheet

Record the 2018 development costs.

Note: Enter debits before credits.

Calculate the required amortization for 2019.

At what amount should the computer software costs be reported in the December 31, 2019, balance sheet?

Exercise 10-31 Cash Receipts and Payments [LO 10-4] Information pertaining to Noskey Corporation’s sales revenue follows: November 2018 (Actual) December 2018 (Budgeted) January 2019 (Budgeted) Cash sales $ 115,000 $ 121,000 $ 74,000 Credit sales 282,000 409,000 208,000 Total sales $ 397,000 $ 530,000 $ 282,000 Management estimates 5% of credit sales to be uncollectible. Of collectible credit sales, 60% is collected in the month of sale and the remainder in the month following the month of sale. Purchases of inventory each month include 70% of the next month’s projected total sales (stated at cost) plus 30% of projected sales for the current month (stated at cost). All inventory purchases are on account; 25% is paid in the month of purchase, and the remainder is paid in the month following the month of purchase. Purchase costs are approximately 60% of the selling price. Required: Determine for Noskey: 1. Budgeted cash collections in December 2018 from November 2018 credit sales. 2. Budgeted total cash receipts in January 2019. 3. Budgeted total cash payments in December 2018 for inventory purchases. Next Visit question mapQuestion 1 of 3 Total 1 of 3 Prev