he inventory of Sandhill Company on December 31, 2020, consists of the following items.

^a Part No. A999 is obsolete and has a realizable value of $1 each as scrap.

(a) Determine the inventory as of December 31, 2020, by the LCNRV method, applying this method to each item.

(b) Determine the inventory by the LCNRV method, applying the method to the total of the inventory.

The DeVille Company reported pretax accounting income on its income statement as follows:
   

   
Included in the income of 2018 was an installment sale of property in the amount of $34,000. However, for tax purposes, DeVille reported the income in the year cash was collected. Cash collected on the installment sale was $13,600 in 2019, $17,000 in 2020, and $3,400 in 2021.

Included in the 2020 income was $12,000 interest from investments in municipal bonds.

The enacted tax rate for 2018 and 2019 was 30%, but during 2019 new tax legislation was passed reducing the tax rate to 25% for the years 2020 and beyond.

Required:
Prepare the year-end journal entries to record income taxes for the years 2018–2021. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)

The DeVille Company reported pretax accounting income on its income statement as follows:
   

   
Included in the income of 2018 was an installment sale of property in the amount of $54,000. However, for tax purposes, DeVille reported the income in the year cash was collected. Cash collected on the installment sale was $21,600 in 2019, $27,000 in 2020, and $5,400 in 2021.

Included in the 2020 income was $22,000 interest from investments in municipal bonds.

The enacted tax rate for 2018 and 2019 was 30%, but during 2019 new tax legislation was passed reducing the tax rate to 25% for the years 2020 and beyond.

Required:
Prepare the year-end journal entries to record income taxes for the years 2018–2021. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.

a) On January 1, 2020, Blue Inc. sold computer equipment to Larkspur Co. The sales price of the equipment was $511,000 and its carrying amount is $396,000. Record any journal entries necessary for Blue from the sale of the computer equipment in 2020.

b) Use the information from part a. Assume that, on the same day the sale occurred, Blue enters into an agreement to lease the equipment from Larkspur for 10 years with annual lease payments of $69,428.50 at the end of each year, beginning on December 31, 2020. If Blue has an incremental borrowing rate of 6% and the equipment has an economic useful life of 10 years, record any journal entries necessary for Blue from the sale and leaseback of computer equipment in 2020.

I really just need the answer for the entries for part B) I cannot figure it out, It is so confusing to me

Cho Co. includes one coupon in each box of cereal it sells. In return for 5 coupons and $1, customers receive a Cho branded spoon that the company purchases for $2 each. Cho's experience indicates that 40 percent of the coupons will be redeemed. During 2019, 200,000 boxes of cereal were sold, 20,000 spoons were purchased, and 55,000 coupons were redeemed. During 2020, 280,000 boxes of cereal were sold, 25,000 spoons were purchased, and 90,000 coupons were redeemed. The premium payable account balance at the beginning of the 2019 fiscal year was $8,000. Determine the premium expense reported in the income statement and the ending premium liability balance reported in the balance sheet for 2019 and 2020.

2019 Premium Expense: $  

2019 Ending Premium Liability: $  

2020 Premium Expense: $  

2020 Ending Premium Liability: $  

Ayayai Corporation had the following stockholders’ equity accounts on January 1, 2020: Common Stock ($5 par) $500,000, Paid-in Capital in Excess of Par—Common Stock $200,000, and Retained Earnings $120,000. In 2020, the company had the following treasury stock transactions.

Ayayai Corporation uses the cost method of accounting for treasury stock. In 2020, the company reported net income of $30,000.

Prepare the stockholders’ equity section for Ayayai Corporation at December 31, 2020. (Enter the account name only and do not provide the descriptive information provided in the question.)

PHP Question:

Write the PHP code to list out all of the dates of the current month and assign them to their given days. As an example, for the month of October 2020, the output should look something like this:

October 2020      

Monday: 5, 12, 19, 26

Tuesday: 6, 13, 20, 27

Wednesday: 7, 14, 21, 28

Thursday: 1, 8, 15, 22, 29

Friday: 2, 9, 16, 23, 30

Saturday: 3, 10, 17, 24, 31

Sunday: 4, 11, 18, 25

IMPORTANT: The code MUST use the current month, whatever the current month is at the time (so if I used this PHP code during July of 2020, it would use all of the dates of July 2020 and assign them to the proper days). Do NOT use tables for this code.

Hall Corp. purchases a new machine on October 1, 2018. Year end is December 31.

Purchase price 100,000

Residual Value 5,000

Useful life 3 years

Estimated working hours during useful life 7,500

Machine usage in 2018 1,500

Machine usage in 2019 3,750

Machine usage in 2020 2,250

1. Calculate depreciation expense using the activity method for 2018

2. Prepare Hall Corp's journal entry to record 2018 depreciation on December 31, 2018

3. Calculate depreciation expense using the activity method for 2019

4. Prepare Hall Corp's journal entry to record 2019 depreciation on December 31, 2019

5. Calculate depreciation expense using the activity method for 2020

6. Prepare Hall's journal entry to record 2020 depreciation on December 31, 2020

For 2018, Mr. Mason Boardman has combined federal and provincial Tax Payable of $62,350. For this year, his employer withheld $61,600.

For 2019, his combined federal and provincial Tax Payable is $29,760. For this year, his employer withheld $13,740.

For 2020, he anticipates having combined federal and provincial Tax Payable of $52,370. He expects that his employer will withhold $47,390.

In January, 2020, you are asked to provide tax advice to Mr. Boardman. He has asked you whether it will be necessary for him to pay instalments in 2020 and, if so, what the minimum amounts that should be paid are, along with the dates on which these amounts are due. Assume that his estimates for 2020 will be accurate.

Required: Provide the information requested by Mr. Boardman. He would like to know what the amount of instalments are under all three options and which is the best option you would recommend.

During 2018, Pina Inc., a furniture store, issued two different series of bonds, details of which follow:

First issue: 670 $100, 10% bonds, at par, each convertible into 6 common shares.

Second issue: 390 $100, 7% bonds, at par, each convertible into 3 common shares.

For the year ended December 31, 2020, the company had net income of $53,850. Throughout 2020, 2,500 common shares were outstanding; none of the bonds were converted or redeemed. The company’s tax rate was 19%. (For simplicity, ignore the requirement to record the debt and equity portions of the convertible bond separately).

1. Calculate basic earnings per share for the year ended December 31, 2020.

2. Calculate diluted earnings per share for the year ended December 31, 2020.