The Distance Plus partnership has the following capital balances at the beginning of the current year:
| Tiger (50% of profits and losses) | $ | 85,000 |
| Phil (30%) | 60,000 | |
| Ernie (20%) | 55,000 | |
Each of the following questions should be viewed independently.
If Sergio invests $100,000 in cash in the business for a 25 percent interest, what journal entry is recorded? Assume that the bonus method is used.
If Sergio invests $60,000 in cash in the business for a 25 percent interest, what journal entry is recorded? Assume that the bonus method is used.
If Sergio invests $72,000 in cash in the business for a 25 percent interest, what journal entry is recorded? Assume that the goodwill method is used.
In: Accounting
Below is information for the year 2019 for Company A and Company B.
Interest expense $400 $0
Tax expense (40%) $400 $400
Net income $600 $600
Ending balance of total asset $10,000 $10,000
Total debt $5,000 $0
Equity $5,000 $10,000
Required: Compute the following for Year 2019
(a) Return on assets for Company A and B
(b) Financial leverage ratio for Company A and B
(c) Times interest earned ratio, after necessary adjustments for Company A if it capitalized $100 interest costs in the pension obligation during the year.
(d) “Company A has used financial leverage to increase its return to its shareholders”. Comment on this statement.
In: Accounting
2. On the first day of the fiscal year, a company issues a $952,000, 6%, 10-year bond that pays semiannual interest of $28,560 ($952,000 × 6% × 1/2), receiving cash of $999,600.
| Required: | |||||||||||||||||||||||||
|
Journalize the entry to record the first interest payment and amortization of premium using the straight-line method. Refer to the Chart of Accounts for exact wording of account titles. Journalize the entry to record the first interest payment and amortization of premium using the straight-line method on December 31.
JOURNAL
|
On the first day of the fiscal year, a company issues an $946,000, 8%, 5-year bond that pays semiannual interest of $37,840 ($946,000 × 8% × 1/2), receiving cash of $889,240.
In: Accounting
Allisson Russo is a 15 year old girl admitted to the
Emergency Room with Right , lower quadrant pain. She is eventually
diagnosed with appendicitis and scheduled for an appendectomy.
After visiting Allison in the Er, the surgeon Alerts the Operating
Room nurse, Ms. Wendy Harnes that the surgery will take place in an
hour. Allison is HIV positive from emergency medical acre and blood
transfusions that she received six years ago, following an auto
accident. Allison does not know that she is positive, at the
request of her parents, who are born high-powered attorneys.
Allison tells Ms. Harnes that she used to to be involved in sports
but has dropped these activities in school because of feeling more
tired than usual. She thinks that her academic studies are simply
requiring more of her attention , but her mother has suggested that
perhaps she would be seeing a new doctor soon. Allison asks the
nurse “ Do you think being tired at my age is a serious concern? I
thought all teenagers feel like this. I feel that I have a serious
health problem.” How should Ms. Hayes respond to Allison?
In: Nursing
The data show the number of cases of measles and mumps for a recent 5-year period.
Measles Cases: 48 150 70 60 203
Mumps Cases: 1797 475 1954 2575 370
The correlation coefficient for the data is r = 0.911. and 0.05.
Should regression analysis be done?
Find the equation of the regression line.
Round the coefficients to three decimal places.
y' = a+bx
a =
b =
In: Statistics and Probability
On January 1, 2017, Loud Company enters into a 2-year contract with a customer for an unlimited talk and 5 GB data wireless plan for $65 per month. The contract includes a smartphone for which the customer pays $299. Loud also sells the smartphone and monthly service plan separately, charging $649 for the smartphone and $65 for the monthly service for the unlimited talk and 5 GB data wireless plan.
Required:
|
1. |
Calculate the transaction price for the smartphone and unlimited talk and 5 GB data wireless plan assuming that Loud allocates consideration based on stand-alone prices. |
|
2. |
Record the initial journal entry for Loud Company’s sale of a 2-year contract on January 1, 2017, and the monthly journal entry. |
Calculate the transaction price for the smartphone and unlimited talk and 5 GB data wireless plan assuming that Loud allocates consideration based on stand-alone prices. Additional Instruction
|
Initial |
Stand-Alone |
Allocated |
|
|
Consideration |
Selling Price |
Transaction Price |
|
|
Smartphone |
|||
|
5 GB plan |
|||
|
Total consideration |
Additional Instruction
Allocate using two one-hundreds of a percent. For example: $649 / $2,209 = 29.38% and round your answers to the nearest cent.
In: Accounting
The following schedule of cash receipts and payments relates to Yellowstone, Inc. for the year 20X8:
|
Cash receipts: |
|
|
From customers |
$348,000 |
|
From issuance of bonds payable |
162,000 |
|
From sale of delivery truck |
9,000 |
|
Cash payments: |
|
|
For purchase of equipment |
$ 70,800 |
|
To employees and suppliers |
246,000 |
|
For interest expense |
17,400 |
|
To shareholders for dividends |
74,400 |
|
For purchase of treasury stock |
14,400 |
|
For income taxes |
21,600 |
Required: What is the cash flow from operations for Yellowstone, Inc. for 20X8?
In: Accounting
A 56-year-old man with a history of smoking rush to ER at FUMC with shortness of breathandcough for several days. His symptoms began 3 days ago with runny nose. He reports a chronic morning cough productive of white sputum, which has increased over the past 2 days
Past Medical History
He has had similar episodes each time of raining season for the
past 4 years. He always experiences fatigue, worsening cough,
increased breathlessness and waking up in the morning with
headache.
Family History
(+) Tuberculosis
(+) Hypertension
(-) Cancer
Personal and Social History
He has smoked 1 to 2 packs of cigarettes per day for 40 years and
continues tosmoke. He denies hemoptysis, chills, or weight loss and
has not received any relief fromover-the-countercough
preparations.
Chest x-ray shows hyperinflation and right lobe
pneumonia.
ABG results wasPh7.24,PO2-35 mmHg, PCO2 60mmHg, HCO3 30, O2 sat -
85%.
Spirometry with FEVI 35% predicted that does not change
significantly after inhaled bronchodilators. ECG was ordered.
Physical Examination:
Took vital signs which are: BP: 130/80, T: 37.5 Celsius, PR:89,
RR:30.
Examination displayed tachypnea, respiratory distress, use of
accessory muscles, and intercostal retraction. Barrel chest is a
common observation
1.Conceptualize the pathophysiological alterations distinct to the
case (flow chart) and explanation.
In: Nursing
Create an Amortization Schedule for a $275,000 office building to be purchased with a 30-year loan at an APR of 5% compounded monthly. Determine the monthly payments and how much interest is paid over the life of the loan. (format amortization schedule with the following columns: month, beginning principal, monthly payment, monthly interest, principal reduction, ending principal)
In: Economics
A used old model testing machine was donated to a University by a company one year ago. It is expected that this machine will continue to serve its function for ten more years provided that a maintenance agreement is signed with another firm requiring 10 yearly payments of $9,000 each, with the first payment made now.
A new model can be leased for ten years.
The terms of lease include maintenance. For leasing the new model, a payment of $35,000 is due now and $40,000 will be due in 3 years.
Should the old model machine be replaced now, at MARR = 10%?
(i) Use present worth (PW) method.
(ii) Use incremental PW method.
(b) Use incremental IRR method.
In: Economics