Garda World Security Corporation has the following shares, taken from the equity section of its balance sheet dated December 31, 2020.

*All shares were issued during 2018.

During its first three years of operations, Garda World Security Corporation declared and paid total dividends as shown in the last column of the following schedule.

Required:

Part A
1. Calculate the total dividends paid in each year to the preferred and to the common shareholders.

Year Preferred Dividend Common Dividend Total Dividend

2018 $164,000

2019 $404,000

2020 $564,000

Total for three years $1,132,000

2. Calculate the dividends paid per share to both the preferred and the common shares in 2020. (Round the final answers to 2 decimal places.)

Part B
1. Calculate the total dividends paid in each year to the preferred shares and to the common shareholders assuming preferred shares are cumulative.

2. Calculate the dividends paid per share to both the preferred and the common shares in 2020 assuming preferred shares are cumulative. (Round the final answers to 2 decimal places.)

Brady Construction Company contracted to build an apartment complex for a price of $6,300,000. Construction began in 2018 and was completed in 2020. The following is a series of independent situations, numbered 1 through 6, involving differing costs for the project. All costs are stated in thousands of dollars. Estimated Costs to Complete Costs Incurred During Year (As of the End of the Year) Situation 2018 2019 2020 2018 2019 2020 1 1,630 2,520 1,290 3,810 1,290 — 2 1,630 1,290 2,920 3,810 2,920 — 3 1,630 2,520 2,640 3,810 2,540 — 4 630 3,130 1,260 4,410 940 — 5 630 3,130 2,210 4,410 2,540 — 6 630 3,130 3,100 5,855 2,870 — Required: Complete the following table. (Do not round intermediate calculations. Enter answers in dollars. Round your final answers to the nearest whole dollar. Negative amounts should be indicated by a minus sign.)

Shamrock Leasing Company agrees to lease equipment to Bridgeport Corporation on January 1, 2020. The following information relates to the lease agreement.

(Assume the accounting period ends on December 31.)

1.Calculate the amount of the annual rental payment required.

Can you explain to me what the differnce is between 1 and 2

3.Prepare the journal entries Bridgeport would make in 2020 and 2021 related to the lease arrangement.

4.Prepare the journal entries Shamrock would make in 2020 and 2021 related to the lease arrangement.

Culver Leasing Company agrees to lease equipment to Larkspur Corporation on January 1, 2020. The following information relates to the lease agreement. 1. The term of the lease is 7 years with no renewal option, and the machinery has an estimated economic life of 9 years. 2. The cost of the machinery is $575,000, and the fair value of the asset on January 1, 2020, is $755,000. 3. At the end of the lease term, the asset reverts to the lessor and has a guaranteed residual value of $50,000. Larkspur estimates that the expected residual value at the end of the lease term will be 50,000. Larkspur amortizes all of its leased equipment on a straight-line basis. 4. The lease agreement requires equal annual rental payments, beginning on January 1, 2020. 5. The collectibility of the lease payments is probable. 6. Culver desires a 9% rate of return on its investments. Larkspur’s incremental borrowing rate is 10%, and the lessor’s implicit rate is unknown. Discuss the nature of this lease for both the lessee and the lessor. Calculate the amount of the annual rental payment required. Compute the value of the lease liability to the lessee. Prepare the journal entries Larkspur would make in 2020 and 2021 related to the lease arrangement. Prepare the journal entries Culver would make in 2020 and 2021 related to the lease arrangement. Suppose Larkspur expects the residual value at the end of the lease term to be $40,000 but still guarantees a residual of $50,000. Compute the value of the lease liability at lease commencement.

The following data were taken from the books of Powell Construction Ltd:

REQUIRED:

Prepare in the general ledger of Powell Construction Ltd for the month of August 2020:

a.       the Sales Ledger Control Account            (15 marks)

b.      Purchases Ledger Control Account            

Total 25 marks

 Net cash flows for a marketing campaign-- Marcus​ Tube, a manufacturer of​ high-quality aluminum​ tubing, has maintained stable sales and profits over the past 10 years. Although the market for aluminum tubing has been expanding by 5 % per​ year, Marcus has been unsuccessful in sharing this growth. To increase its​ sales, the firm is considering an aggressive marketing campaign that centers on regularly running ads in all relevant trade journals and exhibiting products at all major regional and national trade shows. The campaign is expected to require an annual​ tax-deductible expenditure of $150,000 over the next 5 years. Sales​ revenue, as shown in the income statement for 2018

Marcus Tube Income Statement for  
the Year Ended December 31, 2018  
Sales revenue   $20,600,000
Less: Cost of goods sold   15,450,000
Gross profits   $5,150,000
Less: Operating expenses  
General and administrative expense   $1,648,000
Depreciation expense   490,000
Total operating expense   $2,138,000
Earnings before interest and taxes   $3,012,000
Less: Taxes   1,204,800
Net operating profit after taxes   $1,807,200

totaled $20,600,000.

If the proposed marketing campaign is not​ initiated, sales are expected to remain at this level in each of the next 5​ years, 2019 through 2023. With the marketing​ campaign, sales are expected to rise to the levels shown in the table

  
Year   Sales revenue
2019   $21,100,000
2020   21,600,000
2021   22,100,000
2022   23,100,000
2023   24,100,000

for each of the next 5​ years; cost of goods sold is expected to remain at 75% of​ sales; general and administrative expense​ (exclusive of any marketing campaign​ outlays) is expected to remain at 8% of​ sales; and annual depreciation expense is expected to remain at $490,000. Assuming a 40% tax​ rate, find the net cash flows over the next 5 years associated with the proposed marketing campaign.

Allen Products​ LP, wants to do a scenario analysis for the coming year. The pessimistic prediction for sales is $ 900,000​; the most likely amount of sales is $ 1,118,000​; and the optimistic prediction is $ 1,288,000. ​Allen's income statement for the most recent year is shown here

Allen Products, Inc. Income Statement for
the Year Ended December 31, 2019  
Sales revenue   $937,400
Less: cost of good sold   436,828
Gross profits   $500,572
Less: operating expenses   245,599
Operating profits   $254,973
Less: interest expense   30,934
Net profit before taxes   $224,039
Less: taxes (rate 25%)   56,010
Net profits after taxes   $168,029

a. Use the ​percent-of-sales method, the income statement for December​ 31,2019​, and the sales revenue estimates to develop​ pessimistic, most​ likely, and optimistic pro forma income statements for the coming year.

b. Explain how this method could result in overstatement of profits for the pessimistic case and understatement of profits for the most likely and optimistic cases.

c. Restate the pro forma income statements prepared in part a. to incorporate the following assumptions about the costs:

$252,497 of the cost of goods sold is​ fixed; the rest is variable. $193,516 of the operating expenses is​ fixed; the rest is variable. All the interest expense is fixed.​

d. Compare your findings in part c. to your findings in part a. Do your observations confirm your explanation in part b​?

Use the ​percent-of-sales method, the income statement for December​ 31, 2019, and the sales revenue estimates to develop​ pessimistic, most​ likely, and optimistic pro forma income statements for the coming year.

Complete the pro forma income statement for the year ending December​ 31, 2020 that is shown below​ (pessimistic scenario): ​ (Round the percentage of sales to one decimal place and the pro forma income statement accounts to the nearest​ dollar.)

You own shares of the Nuveen Floating Rate Income Fund (ticker: JFR), which is a closed-end fund. You want to sell your shares. Which statement below applies to your situation?

Group of answer choices

Nuveen only accepts returns of shares if they are proven to be defective

Y must hold your shares because they have not yet matured

You must sell your shares to another investor

You may redeem your shares directly from Nuveen

The primary difference between a balanced fund and an asset allocation is:

Group of answer choices

that an asset allocation fund invests in a mix of stocks and bonds, while a balanced fund does not.

that a balanced fund's asset mix is roughly static while an asset allocation fund is dynamic over time.

that an asset allocation fund's asset mix is roughly static while a balanced fund is dynamic over time.

that a balanced fund invests in a mix of stocks and bonds, while an asset allocation fund does not.