Analysis and Interpretation of Liquidity and Solvency Headquartered in Calgary, Alberta, Husky Energy Inc. is a publicly traded, integrated energy company. Selected fiscal year balance sheet and income statement information for Husky Energy follow (Canadian $ millions). C$ millions 2018 2017 Cash and equivalents $2,895 $2,538 Short-term investments - - Accounts receivable 1,369 1,369 Current assets 5,745 5,672 Current liabilities 4,994 3,507 Total liabilities 15,611 14,960 Total equity 19,810 18,147 Earnings before interest and tax (EBIT) 2,116 731 Interest expense, gross 314 392 Required a. Compute the current ratio and quick ratio for 2018 and 2017. Note: Round your answers to two decimal places (for example, enter 6.78 for 6.77555). 2018 2017 Current ratio Answer 0 Answer 0 Quick ratio Answer 0 Answer 0 b. Compute times interest earned and liabilities‑to‑equity ratios for 2018 and 2017. Note: Round your answers to two decimal places (for example, enter 6.78 for 6.77555). 2018 2017 Time interest earned Answer 0 Answer 0 Liabilities-to-equity Answer 0 Answer 0 c. Husky's liquidity is best described as Answer Husky's solvency is best described as Answer

Northwest Paperboard Company, a paper and allied products manufacturer, was seeking to gain a foothold in Canada. Toward that end, the company bought 40% of the outstanding common shares of Vancouver Timber and Milling, Inc., on January 2, 2018, for $590 million.

At the date of purchase, the book value of Vancouver's net assets was $870 million. The book values and fair values for all balance sheet items were the same except for inventory and plant facilities. The fair value exceeded book value by $10 million for the inventory and by $15 million for the plant facilities.

The estimated useful life of the plant facilities is 15 years. All inventory acquired was sold during 2018.

Vancouver reported net income of $210 million for the year ended December 31, 2018. Vancouver paid a cash dividend of $50 million.

Required:
1. Prepare all appropriate journal entries related to the investment during 2018.
2. What amount should Northwest report as its income from its investment in Vancouver for the year ended December 31, 2018?
3. What amount should Northwest report in its balance sheet as its investment in Vancouver?
4. What should Northwest report in its statement of cash flows regarding its investment in Vancouver?

Described below are three independent and unrelated situations involving accounting changes. Each change occurs during 2018 before any adjusting entries or closing entries are prepared.

a. On December 30, 2014, Rival Industries acquired its office building at a cost of $9,600,000. It has been depreciated on a straight-line basis assuming a useful life of 30 years and no residual value. Early in 2018, the estimate of useful life was revised to 18 years in total with no change in residual value.

b. At the beginning of 2014, the Hoffman Group purchased office equipment at a cost of $576,000. Its useful life was estimated to be 8 years with no residual value. The equipment has been depreciated by the sum-of-the-years’-digits method. On January 1, 2018, the company changed to the straight-line method.

c. At the beginning of 2018, Jantzen Specialties, which uses the sum-of-the-years’-digits method, changed to the straight-line method for newly acquired buildings and equipment. The change increased current year net income by $565,000.

Required: For each change: 1. Identify the type of change. 2. Prepare any journal entry necessary as a direct result of the change as well as any adjusting entry for 2018 related to the situation described. (Ignore income tax effects.)

On June 30, 2018, Blue, Inc. leased a machine from Big Leasing Corporation. The lease agreement qualifies as a capital lease and calls for Blue to make semiannual lease payments of $286,143 over a three-year lease term, payable each June 30 and December 31, with the first payment at June 30, 2018. Blue’s incremental borrowing rate is 8%, the same rate Big uses to calculate lease payment amounts. The lease agreement qualifies as a finance lease. Amortization is recorded on a straight-line basis at the end of each year. (FV of $1, PV of $1, FVA of $1, PVA of $1, FVAD of $1 and PVAD of $1) (Use appropriate factor(s) from the tables provided.) Required: 1. Determine the present value of the lease payments at June 30, 2018, (to the nearest $000) that Blue uses to record the right-of-use asset and lease liability. 2. What would be the amounts related to the lease that Blue would report in its balance sheet at December 31, 2018? (Ignore taxes.) 3. What would be the amounts related to the lease that Blue would report in its income statement for the year ended December 31, 2018? (Ignore taxes.) (For all requirements, round your answers to the nearest whole dollar amounts.)

Problem 2-21 Financial Statements [LO1]

On January 1, 2018 Vulcan Company purchased 400 of the 1000 shares of Star Trek company stock for $60,000.                                                                                                                  

At this time, Star Trek had a truck with a book value of $40,000 and a fair market value of $80,000. The truck has a life of 5 years with no salvage value and Star Trek uses straight line depreciation                                                                                                                              

On July 1, 2018 Star Trek paid a dividend of $1 per share                                                                                                                              

On December 31, 2018 Star Trek reported a profit of $11,000 and its stock was selling $151 per share                                                                                                                      

On July 1, 2019 Star Trek paid a dividend of $2 per share                                                                                                                               

On December 31, Star Trek reported a loss of $5000 and its stock was selling for $148 per share                                                                                                                 

On July 1, 2020 Star Trek announced that it wasn't paying any dividends in 2020.                                                                                                                              

On December 31, 2020 Star Trek reported a profit of $3000 and its stock was selling for $155 per share                                                                                                                  

On January 31, 2021 Vulcan sold its entire investment in Star Trek at $150 per share                                                                                                                      

REQUIRED                                                                                                                          

A) MAKE ALL THE JOURNAL ENTRIES CONNECTED WITH VULCAN'S INVESTEMENT IN STAR TREK IN                           2018                                                                                                      

                2019                                                                                                      

                2020                                                                                                      

                2021                                                                                                      

                B) FILL IN THE FOLLOWING TABLE                                                                                                                           

                                2018       2019       2020                                                      

INVESTMENT IN STAR TREK                                                                                                                        

INVESTMENT INCOME                                                                                                                  

THE COMPANY THAT I HAVE PICKED IS NETFLIX!

Overview: For this task, you will choose and examine a publicly listed company that you are considering analyzing for your final project. You will provide the reason you are choosing to analyze this company for your final project, introduce the key goods and services provided by the company, and explain how the company is organized. Prompt: First, review the Final Project Guidelines and Rubric document so that you understand the scope of the final project. Then, visit the webpage SEC EDGAR Company Filings, and select a company for your final project. Research the company’s background using the corporate website and other web resources. Be sure to cite your sources in APA style. Next, identify the company and address the following critical elements: 

Company Selection: Explain why you have you chosen this company for your final project (personal interest, business interest, professional interest, etc.). 

Financial Context: Key Goods or Services/Features: Describe the key goods and services your selected organization provides. Include information about where, why, and for whom they are provided. Separate the financial interest of the company into financial and nonfinancial features. For example: Are they a manufacturer offering their own financing to customers? Is the company currently facing any financial woes? Explain how these features of the organization (e.g., major products or services, customers, location) help set the boundaries for business decisions. 

Financial Context: Organized: Describe how the company is organized (by product groups, geographic region, function, etc.). Explain how the organization of the company affects accounting and financial information and subsequent business decisions. Hint: A good place to search for this information is in the notes in financial statements. For example: Is the company filing using GAAP, and are there any provisions for non-GAAP filing? Or, how are revenues treated from foreign subsidiaries?

Note: This paper and the instructor’s feedback will inform Final Project Milestone One, which is due in Module Three. Rubric Guidelines for Submission: The short paper should follow these formatting guidelines: 1 to 2 pages in length (excluding title and reference pages), double spaced, with 12-point Times New Roman font, one-inch margins, and citations in the latest APA style.

A mutual fund advertises that average annual compound rate of
returns for various periods ending end of December 2005 are as
follow :
10 years - 13%
5 years - 17%
2 years - 15%
1 year - 22%
Find the 5-year average annual compound rates of return for the
period January 1, 1996 to December 31, 2000, and nd the annual
rate of return for calender year 2004.

Q2- Economists estimate that the supply function and demand function for the widget market is given by the following expressions: q = 0.2 · π − 40 π = −10q + 2000 π = 5q + 200 Draw demand and supply curves as a function of q and calculate;

A- the demand and price at the market equilibrium.
B- For this equilibrium, calculate the consumers’ gross surplus, the consumers’ net surplus, the producers’ revenue, the producers’ profit and the global welfare