In: Economics
Consider a university medical services department.
A1.1. Consider a university medical services department. Describe what could be the typical information items that is kept within the information system of such a department.
A1.2. What should be included in a typical physical vital records inventory specifically for at least one type of data records at this type of medical services department which is needed for business recovery planning.
In: Operations Management
In: Operations Management
Webster University sold bonds with a 25-year maturity, paying an annual coupon rate of 10% that come with 20 warrants attached to each bond. These bonds were issued at $1,000 par value. Currently in the market, bonds similar to the ones that Webster University sold are yielding 12%. What would be the valued amount for the warrants that Webster University’s issued? $5.96 $6.46 $6.94 $7.42 $7.84
In: Finance
George Young Industries (GYI) acquired industrial robots at the
beginning of 2018 and added them to the company’s assembly process.
During 2021, management became aware that the $2.8 million cost of
the equipment was inadvertently recorded as repair expense on GYI’s
books and on its income tax return. The industrial robots have
10-year useful lives and no material salvage value. This class of
equipment is depreciated by the straight-line method for financial
reporting purposes and for tax purposes it is considered to be
MACRS 7-year property. Cost deducted over 7 years by the modified
accelerated recovery system as follows:
| Year | MACRS Deductions |
||
| 2018 | $ | 400,120 | |
| 2019 | 685,720 | ||
| 2020 | 489,720 | ||
| 2021 | 349,720 | ||
| 2022 | 250,040 | ||
| 2023 | 249,760 | ||
| 2024 | 250,040 | ||
| 2025 | 124,880 | ||
| Totals | $ | 2,800,000 | |
The tax rate is 25% for all years involved.
Required:
1. & 3. Prepare any journal entry necessary as
a direct result of the error described and the adjusting entry for
2021 depreciation.
2. Will GYI account for the change (a)
retrospectively or (b) prospectively?
In: Accounting
| 8. If Thunder Bay acquired a 20% interest in Fort William on December 31, 2019 for $45,000, and during 2018 Fort William reported net income of $25,000 and paid a total cash dividend of $10,000, applying the equity method would give a debit balance in the Investment in Fort William Corp. account at the end of 2020 of |
| a) $37,000. |
| b) $45,000. |
| c) $48,000. |
| d) $50,000. |
| Use the following information to answer questions 9 and 10 |
| On January 1, 2019, on their issue date, Diogenes Inc. purchased 9%, $200,000, 10-year bonds. Interest is paid annually on December 31. Diogenes uses the amortized cost model and the effective-interest method for amortizing premium or discount. The current market rate was 10% for bonds. On December 31, 2019, the bonds have a market value of $185,000. |
| 9. What is the amount paid for the bond on January 1, 2019 |
| a) $178,711 |
| b) $200,000 |
| c)$187,711 |
| d) $185,000 |
| 10. How much interest would be recorded in 2019? |
| a) $12,289 |
| b) $18,000 |
| c) $20,000 |
| d) $18,771 |
In: Accounting
George Young Industries (GYI) acquired industrial robots at the
beginning of 2015 and added them to the company’s assembly process.
During 2018, management became aware that the $2.0 million cost of
the machinery was inadvertently recorded as repair expense on GYI’s
books and on its income tax return. The industrial robots have
10-year useful lives and no material salvage value. This class of
equipment is depreciated by the straight-line method for financial
reporting purposes and for tax purposes it is considered to be
MACRS 7-year property. Cost deducted over 7 years by the modified
accelerated recovery system as follows:
| Year | MACRS Deductions |
||
| 2015 | $ | 285,800 | |
| 2016 | 489,800 | ||
| 2017 | 349,800 | ||
| 2018 | 249,800 | ||
| 2019 | 178,600 | ||
| 2020 | 178,400 | ||
| 2021 | 178,600 | ||
| 2022 | 89,200 | ||
| Totals | $ | 2,000,000 | |
The tax rate is 40% for all years involved.
Required:
1. & 3. Prepare any journal entry necessary as
a direct result of the error described and the adjusting entry for
2018 depreciation. (If no entry is required for a
transaction/event, select "No journal entry required" in the first
account field.)
In: Accounting
When most of us think of Amazon, we think about what we, as consumers, can buy there— currently, just about anything. But Amazon is much more than just a company that supplies consumers with books, household products, clothing, and so forth. Describe Amazon's business-to business (B2B) transactions.
In: Economics
In: Statistics and Probability
Discuss the origin and trends in retirement plans in the US. Compare and contrast qualified and non-qualified plans as well as defined benefit versus defined contribution, and hybrid plans.
How can employers leverage retirement plans to their advantage?
How would you leverage a retirement plan within a company you are running?
In: Finance