The following selected transactions relate to investment activities of Ornamental Insulation Corporation during 2018. The company buys debt securities, intending to profit from short-term differences in price and maintaining them in an active trading portfolio. Ornamental’s fiscal year ends on December 31. No investments were held by Ornamental on December 31, 2017.

Mar. 31 Acquired 8% Distribution Transformers Corporation bonds costing $550,000 at face value.

Sep. 1 Acquired $1,350,000 of American Instruments' 10% bonds at face value.

Sep. 30 Received semiannual interest payment on the Distribution Transformers bonds.

Oct. 2 Sold the Distribution Transformers bonds for $595,000.

Nov. 1 Purchased $2,150,000 of M&D Corporation 6% bonds at face value.

Dec. 31 Recorded any necessary adjusting entry(s) relating to the investments. The market prices of the investments are: American Instruments bonds $ 1,305,000 M&D Corporation bonds $ 2,225,000 (Hint: Interest must be accrued.)

Required: 1. Prepare the appropriate journal entry for each transaction or event during 2018, as well as any adjusting entries necessary at year end.

2. Indicate any amounts that Ornamental Insulation would report in its 2018 income statement, 2018 statement of comprehensive income, and 12/31/2018 balance sheet as a result of these investments.

On December 30, 2017, Rival Industries acquired its office building at a cost of $12,300,000. It has been depreciated on a straight-line basis assuming a useful life of 40 years and no residual value. Early in 2021, the estimate of useful life was revised to 28 years in total with no change in residual value.

At the beginning of 2017, the Hoffman Group purchased office equipment at a cost of $396,000. Its useful life was estimated to be 10 years with no residual value. The equipment has been depreciated by the straight-line method.

On January 1, 2021, the company changed to the double-declining-balance method.At the beginning of 2021, Jantzen Specialties, which uses the straight-line method, changed to the double-declining-balance method for newly acquired vehicles. The change decreased current year net income by $605,000.

1. Prepare any journal entry necessary as a direct result of the change as well as any adjusting entry for 2021 related to the situation described. (Ignore income tax effects.)

A. Record the entry necessary as a direct result of the change in situation a.

B. Record the adjusting entry for situation a.

c.Record the entry necessary as a direct result of the change in situation b.

D.Record the adjusting entry for situation b.

e. Record the entry necessary as a direct result of the change in situation c.

Spitz Company ordered merchandise from a foreign supplier on November 20 at a price of 104,000 forints when the spot rate was $0.54 per forint. Delivery and payment were scheduled for December 20. On November 20, Spitz acquired a call option on 104,000 forints at a strike price of $0.54, paying a premium of $0.02 per forint. It designates the option as a fair value hedge of a foreign currency firm commitment. The fair value of the firm commitment is measured by referring to changes in the spot rate. The merchandise arrives and Spitz makes payment according to schedule. Spitz sells the merchandise by December 31, when it closes its books.

Assuming a spot rate of $0.57 per forint on December 20, prepntry are all journal entries to account for the foreign currency option, foreign currency firm commitment, and purchase of inventory.

Entry 1. Record the foreign currency option.E

Entry 2. Record entry for order placed with foreign supplier.

Entry 3. Record gain or loss on the firm commitment.

Entry 4. Record gain or loss on the foreign currency option.

Entry 5. Record the entry for foreign currency acquired at the spot rate.

Entry 6. Record receipt of goods and payment made.

Entry 7. Record the entry for cost of goods sold.

Entry 8. Record entry to close the firm commitment.

Described below are three independent and unrelated situations involving accounting changes. Each change occurs during 2021 before any adjusting entries or closing entries are prepared.

1. On December 30, 2017, Rival Industries acquired its office building at a cost of $12,000,000. It has been depreciated on a straight-line basis assuming a useful life of 40 years and no residual value. Early in 2021, the estimate of useful life was revised to 28 years in total with no change in residual value.
2. At the beginning of 2017, the Hoffman Group purchased office equipment at a cost of $275,000. Its useful life was estimated to be 10 years with no residual value. The equipment has been depreciated by the straight-line method. On January 1, 2021, the company changed to the double-declining-balance method.
3. At the beginning of 2021, Jantzen Specialties, which uses the straight-line method, changed to the double-declining-balance method for newly acquired vehicles. The change decreased current year net income by $645,000

Prepare any journal entry necessary as a direct result of the change as well as any adjusting entry for 2021 related to the situation described. (Ignore income tax effects.) (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)

Exxon Mobil ( XOM) is one of the half- dozen major oil companies in the world. The firm has four primary operating divisions ( upstream, downstream, chemical, and global services) as well as a number of operating companies that it has acquired over the years. A recent major acquisition was XTO Energy, which was acquired in 2009 for $ 41 billion. The XTO acquisition gave Exxon Mobil a significant presence in the development of domestic unconventional natural gas resources, including the development of shale gas formations, which was booming at the time. Assume that you have just been hired to be an analyst working for ExxonMobil’s chief financial officer. Your first assignment was to look into the proper cost of capital for use in making corporate investments across the company’s many business units.

a. Would you recommend that Exxon Mobil use a single company- wide cost of capital for analyzing capital expenditures in all its business units? Why or why not?

b. If you were to evaluate divisional costs of capital, how would you go about estimating these costs of capital for Exxon Mobil? Discuss how you would approach the problem in terms of how you would evaluate the weights to use for various sources of capital as well as how you would estimate the costs of individual sources of capital for each division.

Need some detailed answer without plagiarism.

In the City of Albany, suppose the mill rate for the property tax is $33 for the year 2020 and the appraised value for your home is $300,000, how much would your property tax be in 2020?

Using the actual/365 convention, calculate the accrued interest based on $60,258 value and a 1.7% coupon.

Accrual begins on 3/12/2020 and ends (and includes) 9/3/2020

Analyse the effectiveness of fiscal and monetary policies employed to fight against the economic slow-down in the March quarter of 2020 and June quarter of 2020; and how they influenced Australia’s economic growth.

You have been appointed as chief risk officer for global retailer and your responsibilities cover achieving value from risk. After two months in the post you realise that most of the top 2o executives globally tend to see risk management as a low level operational tool, not as a source of strategic benefit. A new CEO has also just started and shares your realisation. Required: Produce a report to the CEO which includes any key assumptions you have made. Specific expertise in retail is not expected. The report should cover two areas. i. Outline key areas where risk management can be more effective if its top executive group does have an appropriate strategic outlook ii. Propose practical steps over a 6 month period which are aimed specifically at the top 30 group of executives and is likely to speed u their understanding of the strategic perspective on risk management