What is felon disenfranchisement? How do these policies differ across states (specifically, who is disenfranchised in different states)? What are the implications of these policies for our democratic political system?
In: Operations Management
Culver Corporation had the following long-term receivable account balances at December 31, 2019.
| Notes receivable | $1,850,000 | |
| Notes receivable - Employees | 500,000 |
Transactions during 2020 and other information relating to
Culver's' long-term receivables were as follows:
| 1. | The $1,850,000 note receivable is dated May 1, 2019, bears interest at 9%, and represents the balance of the consideration received from the sale of Culver's's electronics division to Sunland Company. Principal payments of $616,667 plus appropriate interest are due on May 1, 2020, 2021, and 2022. The first principal and interest payment was made on May 1, 2020. Collection of the note instalments is reasonably assured. | |
| 2. | The $500,000 note receivable is dated December 31, 2019, bears interest at 8%, and is due on December 31, 2022. The note is due from Marcia Cumby, president of Culver Corporation, and is secured by 10,000 Culver's common shares. Interest is payable annually on December 31, and the interest payment was made on December 31, 2020. The quoted market price of Culver's's common shares was $45 per share on December 31, 2020. | |
| 3. | On April 1, 2020, Culver's sold a patent to Blossom Company in exchange for a $200,000 non–interest-bearing note due on April 1, 2022. There was no established exchange price for the patent, and the note had no ready market. The prevailing rate of interest for a note of this type at April 1, 2020, was 12%. The present value of $1 for two periods at 12% is 0.79719 (use this factor). The patent had a carrying amount of $38,000 at January 1, 2020, and the amortization for the year ended December 31, 2020 would have been $7,000. The collection of the note receivable from Blossom is reasonably assured. | |
| 4. | On July 1, 2020, Culver's sold a parcel of land to Splish Brothers Inc. for $220,000 under an instalment sale contract. Splish Brothers made a $62,000 cash down payment on July 1, 2020, and signed a four-year, 11% note for the $158,000 balance. The equal annual payments of principal and interest on the note will be $50,927, payable on July 1, 2021, through July 1, 2024. The land could have been sold at an established cash price of $200,000. Culver's had paid $155,000 for the land when it purchased it. Collection of the instalments on the note is reasonably assured. | |
| 5. | On August 1, 2020, Culver's agreed to allow its customer, Saini Inc., to substitute a six-month note for accounts receivable of $200,000 it owed. The note bears interest at 6% and principal and interest are due on the note’s maturity date. |
Click here to view the factor table PRESENT VALUE OF 1.
Click here to view the factor table PRESENT VALUE OF AN ANNUITY OF
1.
The tables in this problem are to be used as a reference for this
problem. (For calculation purposes, use 5 decimal
places as displayed in the factor table
provided.)
Describe the relevant cash flows in terms of amount and timing.
| Cash inflows from notes | ||||||||||||
| 2020 | 2021 | 2022 | 2023 | 2024 | ||||||||
| 1. | 9% Note receivable | |||||||||||
| Principal | $ | $ | $ | $ | $ | |||||||
| Interest | ||||||||||||
| 2. | 8% Note receivable | |||||||||||
| Principal | ||||||||||||
| Interest | ||||||||||||
| 3. | Non-interest-bearing note receivable | |||||||||||
| Payment | ||||||||||||
| 4. | Instalment contract receivable | |||||||||||
| Down payment | ||||||||||||
| Payment | ||||||||||||
| 5. | 6% Note receivable | |||||||||||
| Principal | ||||||||||||
| Interest | ||||||||||||
| Total | $ | $ | $ | $ | $ | |||||||
Determine the amount of interest income that should be reported in 2020. (Round answers to 0 decimal places, e.g. 8,971.)
| Note Receivable | $ | |
| Note Receivable—Employees | $ | |
| Zero-interest-bearing Note—Patent | $ | |
| Instalment Contract—Sale of Land | $ | |
| Note Receivable - Saini | $ | |
| Total Interest Income reported in 2020 | $ |
Determine the portion of the note and any interest that should be reported in current assets at December 31, 2020. (Round answers to 0 decimal places, e.g. 9,871. Do not leave any answer field blank. Enter 0 for amounts.)
| Current portion of 9% notes receivable | $ | |
| Current portion of 8% notes receivable | $ | |
| Non-interest-bearing note receivable | $ | |
| Current portion of instalment contract | $ | |
| Note receivable from customer | $ | |
| Total current notes and interest | $ |
Determine the portion of the note that should be reported as a long-term investment at December 31, 2020. (Round answers to 0 decimal places, e.g. 8,971.)
| Note receivable | $ | |
| Note receivable—Employees | $ | |
| Zero-interest-bearing Note—Patent | $ | |
| Instalment Contract—Sale of Land | $ | |
| Total long-term investment | $ |
eTextbook and Media
Prepare the long-term receivables section of Culver's statement of financial position at December 31, 2020. (Round answers to 0 decimal places, e.g. 8,971.)
| Culver Corporation Long-Term Receivables Section of Statement of Financial Positon December 31, 2020 |
||
| 9% note receivable from sale of division | $ | |
| 8% note receivable from employees | ||
| Zero-interest-bearing note from sale of patent | ||
| Instalment contract receivable | ||
| Total long-term receivables | $ | |
Prepare a schedule showing the current portion of the long-term receivables and accrued interest receivable that would appear in Culver's's statement of financial position at December 31, 2020. (Round answers to 0 decimal places, e.g. 8,971.)
| Culver Corporation Selected Statement of Financial Positon Balances December 31, 2020 |
||
| Note receivable from customer | $ | |
| Current portion of long-term receivables: | ||
| Note receivable from sale of division | $ | |
| Instalment contract receivable | ||
| Total current portion of long-term receivables | $ | |
| Accrued interest receivable: | ||
| Note receivable from sale of division | $ | |
| Instalment contract receivable | ||
| Note receivable from customer | ||
| Total accrued interest receivable | $ | |
In: Accounting
If the FLN is uniquely human, and was acquired through adaptive evolution, what “faculty” might it have evolved from? What aspect of the nonhuman prime mind is homologous to the FLN?
In: Biology
which is considered characteristic of the acquired of the immunological system?
a. specificity
b. memory
c. recognition of self (self-preservation)
d. inducible
e. all of the above are true
In: Biology
In: Accounting
As a long-term investment, Fair Company purchased 20% of Midlin Company’s 300,000 shares for $360,000 at the beginning of the reporting year of both companies. During the year, Midlin earned net income of $135,000 and distributed cash dividends of $0.25 per share. At year-end, the fair value of the shares is $375,000.
1. Assume no significant influence was acquired. Record the transactions from the purchase through the end of the year, including any adjustment for the investment’s fair value, if appropriate. 2. Assume significant influence was acquired. Record the transactions from the purchase through the end of the year, including any adjustment for the investment’s fair value, if appropriate.
In: Accounting
Q3. On January 1, 2016, ATM Corporation acquired all of the common stock of ZED Company for $300,000. On that date, ZED's identifiable net assets had a fair value of $250,000. The assets acquired in the purchase of ZED are considered to be a separate reporting unit of ATM Corporation. The carrying value of ZED's investment at December 31, 2016, is $310,000. The fair value of the net assets (excluding goodwill) at that date is $220,000 and the fair value of the reporting unit is determined to be 260,000.
Required:
1) Explain how goodwill is tested for impairment for a reporting unit.
2) Determine the amount, if any, of impairment loss to be recognized at December 31, 2016.
In: Accounting
Consider our graphical analysis of the bound states in a finite square well of depth V0 and width a. Determine
a) The condition on V0 and a that there is at most one bound state in the problem.
b) The condition on V0 and a that there is at most four bound states in the problem.
c) Suppose the potential parameters are such that the third bound state is just barely bound. What can you say about the binding energy of the first and second bound states?
In: Physics
| Statement | Cooperative or dual federalism |
| Under this view of federalism, the states and the federal government share powers. | |
| States hold all powers not specifically delegated to the federal government in the U.S. Constitution under this view of federalism. | |
| The national governments and the governments of all fifty states are viewed as sovereign entities, possessing the power to govern themselves. | |
| The relationship between the federal and state governments involves shared responsibilities according to this view of federalism. |
In: Operations Management
The probabilities of an economic boom, normal economy, and a recession are 2 percent, 93 percent, and 5 percent, respectively. For these economic states, Stock A has deviations from its expected returns of 0.04, 0.07, and −0.11 for the three economic states respectively. Stock B has deviations from its expected returns of 0.14, 0.08, and −0.22 for the three economic states, respectively. What is the covariance of the two stocks?
In: Finance