Bone Thugs-n-Harmony incurs the expenditures listed below for constructing its corporate headquarters. They took out a $250,000 loan at 8% for the construction. They also have 2 additional loans: 500,000 at 10%, 200,000 at 6%. All loans were outstanding as of 1/1/2019 and were still outstanding when construction was completed on 4/30/2020.

How much interest does Bone Thugs-n-Harmony capitalize in 2019?

Question 6: The following company provides a single product and have provided their summary forecast data shown below relating to its product for 2020.    

a. Calculate the contribution margin per unit.                         

b. Calculate the contribution margin ratio.

c. Calculate the break-even in units and sales dollars for 2020.

d.Calculate the profit earned in 2020.

Carla Vista Company, which uses the retail LIFO method to determine inventory cost, has provided the following information for 2020:

Assuming stable prices (no change in the price index during 2020), what is the cost of Carla Vista's inventory at December 31, 2020? (Hint: Round intermediate calculation to 2 decimal places, e.g. 0.63 and final answer to 0 decimal places.)

On January 2, 2020, Dove, Inc. acquired a 25% interest in the outstanding voting ordinary shares of Cabot Enterprises for a cost of P900,000. This investment provides Dove with the ability to exercise significant influence over Cabot and classified the investment as investment in associates. The acquisition cost of the investment is in excess of the book value by P140,000; the excess is attributable to goodwill which is to be amortized over 20 year. During 2020, Cabot Enterprises reported net income of P312,000 and paid total cash dividends of P220,000. At December 31, 2020, the balance account Investment in Associates in Cabot should have a carrying value of?

Mikey and Sal, married taxpayers filing a joint return, paid state income tax of $12,000 and other itemized deductions of $15,000 in 2020. Because the total of their allowable itemized deductions exceeded the standard deduction, they elected to itemize deductions on their 2020 federal income tax return rather than to claim the standard deduction. In May 2021, Mikey and Sal receive a refund of $1,000 for overpaid state income taxes paid in 2020. Under the tax benefit rule, how much of the $1,000 refund must they include in their gross income for 2021?

Huffy Co., a lessee, records a finance lease of machinery on January 1, 2020. The five annual lease payments of $525,000 are made at the beginning of each year. The present value of the lease payments at 10% is $2,189,180. Huffy uses straight-line depreciation with no salvage value.    

1. Prepare an amortization table for the life of the lease. Round all amounts to the nearest dollar.

b. Prepare all of Huffy’s journal entries for 2020 and 2021 (10 points)

The following information is related to Tobey Corporation for 2020:
 Net Income: $2,500,000
 Common Stock Activities
1/1/20: 700,000 common shares outstanding
3/1/20: Purchased 60,000 treasury shares
7/1/20: 3-for-1 stock split
11/1/20: 120,000 new shares issued for cash
 8% Cumulative Preferred Stock
10,000 shares at $100 par
Required
a. Compute weighted average common shares outstanding (WACSO) for 2020.
b. Compute basic earnings per share for 2020. (Round to no fewer than four decimal places.)

Question 6: The following company provides a single product and have provided their summary forecast data shown below relating to its product for 2020.     

a. Calculate the contribution margin per unit.                                         

b. Calculate the contribution margin ratio.

c. Calculate the break-even in units and sales dollars for 2020.

d.Calculate the profit earned in 2020.

1. A University has recorded the following freshmen enrollment of students in each Academic Year shown below.

Year                Enrollment

2015                     662

2016                     596

2017                     570

2018                     541

2019                     496

      a.   What is the forecast for 2020 using a three period moving average?

b. What is the forecast for 2020 using a weighted moving average, in which the weights are .6, .3, .1?

c. What is the forecast for 2020 using a linear trend?

Extra credit (10 points) – This part is not required. Use the mean absolute deviation (MAD) to determine which method is most accurate.

Over the past year, the vice president for human resources at a large medical center has run a series of three-month workshops aimed at increasing worker motivation and performance. To check the effectiveness of the workshops, she selected a random sample of 35 employees from the personnel files. She collected the employee performance ratings recorded before and after workshop attendance and stored the paired ratings on sheet Ratings.

Compute descriptive statistics and perform a paired ttest.

State your findings and conclusions in a report to the vice president for human resources.

Thank you!