2. On December 31, 2014, Franklin Company performed consulting services for Hensley Corporation. Hensley was short on cash, so Franklin Company agreed to accept a $200,000 zero-interest bearing note due on December 31, 2016 as payment in full. Hensley is somewhat of a credit risk and typically borrows funds at a rate of 10%.

Prepare the journal entry to record the transaction of December 31, 2014 for Franklin Company.

Assume Franklin’s fiscal year end is December 31, prepare the journal entry for December 31, 2015.

Assume Franklin’s fiscal year end is December 31, prepare the journal entry for December 31, 2016.

On October 30, 2016, Sanchez Company acquired a piece of machinery and signed a 12-month note for $24,000. The face value of the note includes the price of the machinery and interest. The note is to be paid in four $6,000 quarterly installments. The value of the machinery is the present value of the four quarterly payments discounted at an annual interest rate of 16%. Required: 1. Prepare all the journal entries required to record the preceding information including the year-end adjusting entry and any payments. Present value techniques should be used. 2. Show how the preceding items would be reported on the December 31, 2016, balance sheet.

In 2013, Fabulous Fruit expanded its operations in Georgia to includegrowing peaches for commercial canning companies. Land was prepared, irrigation systems installed and 3,000 “whips” (baby trees)were planted. It is expected that the trees will be ready for commercial production by 2016. At that time, Fabulous will begin selling the entire crop for canning. The trees will not produce a large enough crop for commercial canning before 2016. In 2014 and 2015,small quantities of fruit will be harvested and sold at local farmers’markets. Fabulous wants to know how to properly account for thosesales.

Required: Use FASB. Submit only one paragraph containing your recommendation (no excerpts). Include in-text citation.

Using relevant ideas and concepts from the texts, write a 1500 word essay that explains how learning about conflict management can help improve professional relationships in the workplace. Reading list 1. Gardiner, J and Barefoot, B., 2019. Step by step – Chapter 5 p. 145-151 2. Thompson, N., 2015. People skills – Chapter 19 p. 162-171 3. Bratton, J., 2016. Introduction to work and organisational behaviour - Chapter 10 p. 275-276 4. Cross, C. and Carbery, R., 2016. Organisational behaviour: an introduction –– Chapter 9 p. 219-227

On January 5, 2012, Mountain View Company purchased construction equipment for $698,400, with a useful life of six years and an estimated salvage value of $87,000. The company uses the straight-line method of depreciation. On July 3, 2016, this equipment was traded for new similar construction equipment that has a value of $800,000. The company paid $595,000 in cash and was given a trade-in allowance of $205,000 for the old equipment.

Prepare the general journal entries needed on July 3, 2016, to record the trade-in.

Please do not copy from Chegg otherwise I have to report the answer. Explain the answer thoroughly by showing each step of the calculation.

Use the following information to answer question 30 and 31. 2016

Revenues 12000

COGS 4000

SG&A 2000

Depreciation 500

Operating Income 5,500

Debt 20,000

30. Assume this is a cyclical company. In the last recession sales fell 15%. Assume that in 2016 COGS was 75% variable. Fill in the chart below for your downside case.

31. Assume the biggest risk to this company is price declines of the product it sells. Assume the last time this happened the price declined 20%. Fill in the chart below for your downside case.

Revenues

COGS

SG&A

Depreciation

Operating Income

Debt

Please answer 31.

Titan Football Manufacturing had the following operating results for 2016: sales = $19,810; cost of goods sold = $13,950; depreciation expense = $2,340; interest expense = $330; dividends paid = $580. At the beginning of the year, net fixed assets were $15,300, current assets were $2,970, and current liabilities were $2,040. At the end of the year, net fixed assets were $18,140, current assets were $3,340, and current liabilities were $2,130. The tax rate for 2016 was 30 percent. What is the operating cash flow? Cash flow from assets? Cash flow to creditors? and Cash flow to stockholders? Net income?

Waylander Coatings Company purchased waterproofing equipment on January 6, 2015, for $320,000. The equipment was expected to have a useful life of four years, or 20,000 operating hours, and a residual value of $35,000. The equipment was used for 7,200 hours during 2015, 6,400 hours in 2016, 4,400 hours in 2017, and 2,000 hours in 2018.

1. Determine the amount of depreciation expense for the years ended December 31, 2015, 2016, 2017, and 2018, by (a) the straight-line method, (b) the units-of-output method, and (c) the double- declining-balance method. Also determine the total depreciation expense for the four years by each method.