Aber Company manufactures one product. On December 31, 2016, Aber adopted the dollar-value LIFO inventory method. The inventory on that date using the dollar-value LIFO inventory method was $900,000. Inventory data are as follows: Year Inventory at year-end prices Price index (base year 2016) 2017 $1,260,000 1.05 2018 1,840,000 1.15 2019 1,900,000 1.25 Compute the inventory at December 31, 2017, 2018, and 2019, using the dollar-value LIFO method for each year. Inventory at December 31, 2017 $ Inventory at December 31, 2018 $ Inventory at December 31, 2019 $

Exercise 18-3

The comparative condensed balance sheets of Gurley Corporation are presented below.

(a)

Prepare a horizontal analysis of the balance sheet data for Gurley Corporation using 2016 as a base

Below are the reported profits and losses of Amherst Company for the past several years along with their tax rates on income reported.

                                Income                                                 Tax rate
2012                       $100,000                                              30%
2013                       $ 20,000                                               30%
2014                       $100,000                                              40%
2015                       $(350,000)                                           40%
2016                       $75,000 30%
2017                       unknown 30%

Amherst elects to use both carry back and carry forward procedures with no valuation allowance and strongly anticipates future profits to recover losses.

Record the tax effect of the above in 2015.

                                                                                                                                                Dr.                          Cr.

Show the income tax section and loss section of the income statement for 2015.

Record the tax effect of the above in 2016.
                                                                                                                                                Dr.                          Cr.

Equipment1 was purchased at the beginning of the year 2016 for $50,000 cash. No salvage/residual value. Straight-line depreciation is used over a 10-year life.

Equipment2 was also purchased at the beginning of the year for 550,000 (no salvage) 10 year life. We decided to use SL method. The equipment2 required a $5,000 repair by year-end.

Equipment3 was purchased on 6/1 for 100,000 (20,000 salvage value)., 10 year life. We decided to use SYD as a depreciation method. At 12/31/2016 it required a capital improvements of $40,000 which we signed a note to pay in 9 months.

Prepare Journal entries for all transactions

Political polling relies heavily on sampling techniques, which allow us to make inferences about an entire population based on only a portion of the population. However, the "Brexit" referendum in the United Kingdom and several elections in the United States since 2016 have called into question the accuracy of much political polling

1. What explains the inaccuracy of many pre-election polling data since 2016? Provide specific case examples.

2. What statistical techniques could be used to improve the accuracy of polling?

3. Has the value of political polling diminished? What is your personal perception of political polling?

Equipment1 was purchased at the beginning of the year 2016 for $50,000 cash. No salvage/residual value. Straight-line depreciation is used over a 10-year life.

Equipment2 was also purchased at the beginning of the year for 550,000 (no salvage) 10 year life. We decided to use SL method. The equipment2 required a $5,000 repair by year-end.

Equipment3 was purchased on 6/1 for 100,000 (20,000 salvage value)., 10 year life. We decided to use SYD as a depreciation method. At 12/31/2016 it required a capital improvements of $40,000 which we signed a note to pay in 9 months.

Prepare Journal entries for all transactions

Use the St. Louis Federal Reserve (FRED) database to find the following:

1. Find U.S. Real Gross Domestic Product per capita. Submit URL

2. Using a time frame for the year (Q4 2018), select the same time frame a year earlier (Q4 2017), FY 18.

3. Compute the change in real GDP per capita for the year in question. That is equal to: (real GDP per capita in 2018 - real GDP per capita in 2017)/(real GDP per capita in 2017).

4. Repeat the same computations for 2015 to 2016, FY 16; and 2016 to 2017, FY 17.

Can you please explain to me what is happening in the line

Update PRODUCT 11QER/31, P_QTYOH from 47 to 46

like why 47 to 46 and no other number?

in the code

Lock INVOICE

Insert row 10983 into INVOICE

Unlock INVOICE

Lock LINE

Insert row 10983, 1 into LINE

Unlock LINE

Lock PRODUCT

Update PRODUCT 11QER/31, P_QTYOH from 47 to 46

Unlock PRODUCT

Lock CUSTOMER

Update CUSTOMER 10010, CUS_BALANCE from 345.67 TO 464.47

Update CUSTOMER 10010, CUS_DATELSTPUR from 11-May-2016 to 03-June-2016

Unlock CUSTOMER

Analyze the following ratios.

What does the NET PROFIT MARGIN RATIO tell about this company? Are the trends getting better or worse? Why or why not? Would you recommend purchase of this stock? Why or why not? Please explain your answers.

What does the RETURN ON TOTAL ASSETS RATIO tell about this company? Are the trends getting better or worse? Why or why not? Would you recommend purchase of this stock? Why or why not? Please explain your answers.

On January 1, 2014, Fishbone Corporation sold equipment to Lost Company that cost $250,000 and that had accumulated depreciation of $100,000 on the date of sale. Fishbone received as consideration a non-interest-bearing note requiring payments of $80,000 annually for 3 years. The first note payment is to be made on January 1, 2014. The prevailing rate of interest for a note of this type on January 1, 2014, was 5%.

Record the 1/1/14 transaction for Fishbone Corporation and all necessary entries from 2014-2016.

Record the 1/1/14 transaction for Lost Company and all necessary entries from 204-2016.