Carla Cole Inc. acquired the following assets in January of 2015. Equipment, estimated service life, 5 years; salvage value, $16,000 $559,000 Building, estimated service life, 30 years; no salvage value $675,000 The equipment has been depreciated using the sum-of-the-years’-digits method for the first 3 years for financial reporting purposes. In 2018, the company decided to change the method of computing depreciation to the straight-line method for the equipment, but no change was made in the estimated service life or salvage value. It was also decided to change the total estimated service life of the building from 30 years to 40 years, with no change in the estimated salvage value. The building is depreciated on the straight-line method.

(a) Prepare the general journal entry to record depreciation expense for the equipment in 2018.

(b) Prepare the journal entry to record depreciation expense for the building in 2018.

SEAT Inc. acquired the following assets in January of 2015. Equipment, estimated service life, 5 years; salvage value, $16,200 $503,700 Building, estimated service life, 30 years; no salvage value $648,000 The equipment has been depreciated using the sum-of-the-years’-digits method for the first 3 years for financial reporting purposes. In 2018, the company decided to change the method of computing depreciation to the straight-line method for the equipment, but no change was made in the estimated service life or salvage value. It was also decided to change the total estimated service life of the building from 30 years to 40 years, with no change in the estimated salvage value. The building is depreciated on the straight-line method.

(a) Prepare the journal entry to record depreciation expense for the equipment in 2018.

(b) Prepare the journal entry to record depreciation expense for the building in 2018

PLEASE EXPLAIN THE ANSWER STEP BY STEP

Automatic versus Manual Processing
Photo Station Company operates a printing service for customers with digital cameras. The current service, which requires employees to download photos from customer cameras, has monthly operating costs of $5,000 plus $0.20 per photo printed. Management is evaluating the desirability of acquiring a machine that will allow customers to download and make prints without employee assistance. If the machine is acquired, the monthly fixed costs will increase to $10,000 and the variable costs of printing a photo will decline to $0.04 per photo.

(a) Determine the total costs of printing 20,000 and 50,000 photos per month.

(b) Determine the monthly volume at which the proposed process becomes preferable to the current process.
Answer

units

Q1:

Bill Limited holds a 60% interest in Bob Limited. Bill Limited sells inventory to Bob Limited during the year for $10,000. The inventory originally cost $7,000. At the end of the year 50% of the inventory is still on hand. The tax rate is 30%. The NCI adjustment required in relation to this transaction is a debit of:

Q2:

The statement of cash flows is not used to:

Q3:

The carrying amount of property, plant and equipment is $1,000 at the start of the year and $1,400 at the end of the year. During the year, the following occurred:

• Sale of equipment—carrying amount $40
• Acquisition of equipment—financed by share issue $200
• Depreciation expense for year—$120

Investing cash flow is:

Q4:

Which of the following statements is incorrect?

Q5:

Warriors Limited acquired a 20% share in Tomkins Limited for $36 000. Warriors Limited has no other investments. At the date on which it became an associate, Tomkins Limited had the following equity:
- share capital $100 000
- retained earnings $80 000.

At the end of the financial year following the investment, Tomkins Limited generated a profit after tax of $12 000. After applying the equity method of accounting, Warriors Limited will have which of the following carrying amounts for the investment?

Q6:

A decrease in the direct rate of US$1 to A$# results in:

Q7:

Foreign exchange risk may relate to:

Q8:

The currency of the country in which the foreign operation is based is referred to as the:

Q9:

Translating from the functional currency to the presentation currency involves which of the following procedures?

For a school, the principal expected that a student takes 45 minutes to travel to school on average. Suppose the time taken to travel to school by a student follows a normal distribution. 100 students are randomly selected from the school for interview and they took on average 44 minutes to travel to school with a standard deviation of 15 minutes. 6 of the selected students had lateness record in the last month.

1. How large a sample is required to ensure the estimate of p is accurate within 2% with a confidence level of 97%?
2. By using critical value approach to perform a hypothesis testing for the principal’s claim that under (10 of all students had lateness record in the last month at level of significant α = 0.01. Correct the test statistics to 2 decimal places.

I need to know how to break this scenario down for probability questions..

After reading a recent report revealing that workplace diversity can improve the development of ideas, Quantitative Industrial (QI) decides to hire 2 recent graduates to have a better age-profile in its workforce. They interview many candidates but have settled on 5 finalists for the position. They have ranked their choices from 1 to 5. Unbeknownst to them, each finalist has a certain probability of accepting their offer of $60,000 as the starting salary: Candidate 1 -- 25% Candidate 2 -- 50% Candidate 3 -- 10% Candidate 4 -- 0% or 100% if candidate 5 is also hired (think about this as a conditional probability) Candidate 5 -- 50%

People flourish when they are in a state of optimal well-being or flow. When people find pleasure at work, they inevitably achieve and maintain excellence in their workplace performance. In fact, if you interview peak performers in any field, you will inevitably discover they gain tremendous pleasure from what they do.

What activities are you intrinsically motivated to do that involve using your personal strengths and flow experiences?

How could you change your work place behaviors, interactions and activities so that you engaged in more intrinsically motivated activities that involve using those strengths and flow experiences? Be creative - even small changes can make enormous differences.

What would be the costs and the benefits of making these changes?

1. My strategy is to (hopefully) expand the number of stores and eventually franchise, while focusing on serving only high-quality fresh ingredients. What are three specific human resource management implications of my strategy (including specific policies and practices)?

2. 2. Identify and briefly discuss five specific human resource management errors that I’m currently making.

3. Develop a structured interview form that we can use for hiring store managers, wait staff, and counter people pizza makers.

4. Based on what you know about Angelo’s, and what you know from having visited pizza restaurants, and specifically how you think Angelo’s should go about selecting employees.

Nash Company manufactures equipment. Nash’s products range from simple automated machinery to complex systems containing numerous components. Unit selling prices range from $200,000 to $1,500,000 and are quoted inclusive of installation. The installation process does not involve changes to the features of the equipment and does not require proprietary information about the equipment in order for the installed equipment to perform to specifications. Nash has the following arrangement with Winkerbean Inc.

Nash delivers the equipment on June 1, 2020, and completes the installation of the equipment on September 30, 2020. The equipment has a useful life of 10 years. Assume that the equipment and the installation are two distinct performance obligations which should be accounted for separately.

Assuming Nash does not have market data with which to determine the standalone selling price of the installation services. As a result, an expected cost plus margin approach is used. The cost of installation is $39,200; Nash prices these services with a 25% margin relative to cost.

(a)

How should the transaction price of $1,040,000 be allocated among the service obligations? (Do not round intermediate calculations. Round final answers to 0 decimal places.)

(b)

Prepare the journal entries for Nash for this revenue arrangement on June 1, 2020, assuming Nash receives payment when installation is completed. (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.)