Questions
The following balances were taken from the books of Oriole Corp. on December 31, 2020. Interest...

The following balances were taken from the books of Oriole Corp. on December 31, 2020.

Interest revenue

$87,950

Accumulated depreciation—equipment

$41,950

Cash

52,950

Accumulated depreciation—buildings

29,950

Sales revenue

1,381,950

Notes receivable

156,950

Accounts receivable

151,950

Selling expenses

195,950

Prepaid insurance

21,950

Accounts payable

171,950

Sales returns and allowances

151,950

Bonds payable

101,950

Allowance for doubtful accounts

8,950

Administrative and general expenses

98,950

Sales discounts

46,950

Accrued liabilities

33,950

Land

101,950

Interest expense

61,950

Equipment

201,950

Notes payable

101,950

Buildings

141,950

Loss from earthquake damage

151,950

Cost of goods sold

622,950

Common stock

501,950

Retained earnings

22,950


Assume the total effective tax rate on all items is 20%.

Prepare a multiple-step income statement; 100,000 shares of common stock were outstanding during the year. (Round earnings per share to 2 decimal places, e.g. 1.48.)

In: Accounting

From Harvard Business School HBX CORe 2020 Economics for Managers Share a story or a link...

From Harvard Business School HBX CORe 2020 Economics for Managers

Share a story or a link to a news article describing a government intervention in a market. Explain how the intervention changes the outcome of the market, and whether you think the intervention had a positive or negative effect.

In: Economics

On September 1, 2020, Betty DeRose, Inc. received $45,000 cash from a customer as payment for...

On September 1, 2020, Betty DeRose, Inc. received $45,000 cash from a customer as payment for services to be performed over the next 24 months. Betty DeRose, Inc. received $45,000 cash from another customer on May 31, 2021 as payment for services to be performed over the next 18 months. Calculate the total amount of unearned revenue that would appear in Betty DeRose, Inc's December 31, 2021 balance sheet.

In: Accounting

Question 2: From the following account balances to 30 June 2020 prepare a statement of financial...

Question 2: From the following account balances to 30 June 2020 prepare a statement of financial position in the narrative classified format. Note: you will need to determine the balance of the retained earnings.                                                                              

Type of Account

                                $

Accounts Receivable

                           46500

Provisions

                           50000

Prepayments

                             1200

Sales Revenue

                         455000

Plant and Equipment

                         220000

Other Current Assets

                           11000

Borrowings

                         120000

Interest on Borrowings E

                             6000

Accumulated Depreciation

                           48500

Accounts Payable

                           26000

Share Capital

                         450000

Land and Buildings

                         339000

Inventory

                           78000

Two Year Term Deposit

                           98500

Cash at Bank

                           32000

Retained Earnings

                               ?

Salaries expense

                         215000

Salaries Accrued

                           12500

Insurance Expense

                             9000

Annual Depreciation

                           22000

Utilities Expense

                             8500

Selling Expenses

                           25000

Question 3: From the accounts in question 2 above prepare a statement of profit or loss position for the period ended 30 June 2020.

In: Accounting

1) Find unemployment rates from 2010-2020 in Canada and present it in a graph. 2) what...

1) Find unemployment rates from 2010-2020 in Canada and present it in a graph.

2) what are the causes of unemployment?

3) Does a high minimum wage result in higher unemployment?

4) Does employment insurance cause unemployment?

In: Economics

Question 2: From the following account balances to 30 June 2020 prepare a statement of financial...

Question 2: From the following account balances to 30 June 2020 prepare a statement of financial position in the narrative classified format. Note: you will need to determine the balance of the retained earnings.                                                                                  

Type of Account

                                $

Accounts Receivable

                           46500

Provisions

                           50000

Prepayments

                             1200

Sales Revenue

                         455000

Plant and Equipment

                         220000

Other Current Assets

                           11000

Borrowings

                         120000

Interest on Borrowings E

                             6000

Accumulated Depreciation

                           48500

Accounts Payable

                           26000

Share Capital

                         450000

Land and Buildings

                         339000

Inventory

                           78000

Two Year Term Deposit

                           98500

Cash at Bank

                           32000

Retained Earnings

                               ?

Salaries expense

                         215000

Salaries Accrued

                           12500

Insurance Expense

                             9000

Annual Depreciation

                           22000

Utilities Expense

                             8500

Selling Expenses

                           25000

Question 3: From the accounts in question 2 above prepare a statement of profit or loss position for the period ended 30 June 2020.    

In: Accounting

The following data were taken from the SFP accounts of Bramble Corporation on December 31, 2020:...

The following data were taken from the SFP accounts of Bramble Corporation on December 31, 2020:

Current assets $ 1,035,000
FV-NI investments 842,000
Common shares (unlimited authorized, 590,000 shares issued and outstanding) 6,490,000
Contributed surplus 360,000
Retained earnings 1,790,000

A 8% stock dividend is declared at their fair value and distributed at a time when the shares’ fair value is $51 per share. Prepare the required journal entries. (Credit account titles are automatically indented when the 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.)

Account Titles and Explanation

Debit

Credit

(To record stock dividend declaration)

(To record stock dividend distribution)

  

  

A 3-for-1 stock split is effected. Prepare the required journal entry. (Credit account titles are automatically indented when the 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.)

Account Titles and Explanation

Debit

Credit

  

  

A dividend in kind is declared on January 8, 2021 and paid on January 28, 2021 in FV-NI investments. The investments have a carrying amount of $140,000 (fair value at December 31, 2020) and a January 8 fair value of $148,000. Prepare the required journal entries. (Credit account titles are automatically indented when the 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

Jan. 8

(To record fair value adjustment)

Jan. 8

(To record declaration of property dividend)

Jan 28

In: Accounting

The below contains the actual data on COVID-19 cases in Ghana from 1st April, 2020 to...

The below contains the actual data on COVID-19 cases in Ghana from 1st April, 2020 to 25th May, 2020 as presented by the Ghana Health Service. Use the information provided to answer the following questions:

  1. Construct a graph to show the trends of the COVID-19 confirmed cases and fatalities in Ghana, and speculate on the factors that might have influenced these trend
Date Total confirmed Death Recoveries Test
1-Apr 195 5 3 12046
2-Apr 204 5 3 12046
3-Apr 205 5 3 12046
4-Apr 214 5 3 12046
6-Apr 287 5 3 12046
7-Apr 313 6 3 12046
9-Apr 378 6 4 14611
10-Apr 408 8 4 27348
11-Apr 566 8 4 37954
15-Apr 641 8 83 50719
18-Apr 834 8 83 60916
19-Apr 1042 8 83 68591
22-Apr 1279 10 134 88188
25-Apr 1550 11 155 100622
27-Apr 1671 16 188 106090
28-Apr 2074 17 212 113497
1-May 2169 18 229 117049
2-May 2719 18 294 129461
4-May 3091 18 303 135902
7-May 4012 18 323 149948
8-May 4263 22 378 155201
10-May 4700 22 494 160501
11-May 5127 22 494 162184
12-May 5408 24 514 165433
13-May 5530 24 674 168685
14-May 5638 28 1460 172623
15-May 5735 29 1754 174077
17-May 5918 31 1754 180567
18-May 6096 31 1774 184343
19-May 6269 31 1898 187929
20-May 6486 31 1951 192194
21-May 6617 31 1978 193705
22-May 6683 32 1998 194763
23-May 6809 32 2070 198175
24-May 6964 32 2097 202130
25-May 7117 34 2317 203383

In: Biology

Consider the following article from the January 17, 2020 edition of the Wall Street Journal entitled...

Consider the following article from the January 17, 2020 edition of the Wall Street Journal entitled "Morgan Stanley Cuts CEO James Gorman’s Bonus"

Morgan Stanley paid its chief executive, James Gorman, $27 million for his work in 2019, a pay cut for a year when the bank’s revenue hit a record but its shares lagged behind those of rivals.

Mr. Gorman earned about $19 million in Morgan Stanley shares and another roughly $8 million in cash, including salary and bonus, according to a Friday securities filing.

The 61-year-old was already among the highest-paid U.S. bank bosses. His 2018 pay package, worth about $29 million, was topped only by JPMorgan Chase & Co.’s James Dimon, who runs a bank that is three times the size of Morgan Stanley and vastly more complex.

Mr. Gorman earned a base salary of $1.5 million, the same as a year ago; a cash bonus of $6.4 million, down from $6.9 million a year ago; $12.8 million in stock that is linked to how well the bank does over the next few years; and another $6.4 million in shares that he’ll collect regardless of performance.

At the urging of shareholders and regulators, banks since the financial crisis have tied more of their executives’ pay to performance and deferred more of it into the future.

Morgan Stanley in 2019 posted an annual profit of $9 billion on a record $41 billion revenue. Mr. Gorman has delivered on financial metrics he set out to investors, including minimum profitability in its wealth-management division and firmwide return targets. On Thursday, he set new targets—though some analysts said they weren’t ambitious enough.

In setting Mr. Gorman’s pay, the company said that it took into account his long-term strategy and the bank’s “strong financial performance.”

Shares of Morgan Stanley gained 26% in 2019, lagging behind the S&P 500 and most of its big-bank peers. It is off to a stronger start this year, gaining 6.6% Thursday in its biggest single-day gain since the 2016 presidential election.

Who is the agent in this situation? Who are the principals? Use agency theory to explain the motivation behind tying Mr. Gorman's pay to performance.

In: Finance

1. A student borrows $5000 for college from his aunt and uncle on June 1, 2020....

1. A student borrows $5000 for college from his aunt and uncle on June 1, 2020. He agrees to repay them $500 on 6/1/2021, 6/1/2022, 6/1/2023, and 6/1/2024; plus three additional payments of X on 6/1/2025, 6/1/2026, and 6/1/2027. They agree to an interest rate of 1.5% compounded annually. Find X

2. For the loan described in question #1, write out the amortization schedule for the loan.

Please show steps

Thank You

In: Finance