RNE Manufacturing Company sells its products offering 30 days’ credit to its customers. During 2018, its first year of operations, the following events occurred:​

A) Emma invested $32,000 into National Oilwell three years ago. National Oilwell value increased by -6.7% in 2017, -5.7% in 2018 and 7.9% in 2019. what has been the geometric average rate of return in the past three years?

B) Ryan invested $24,000 into Berkshire Hathaway three years ago. Berkshire hataways value increased by -8.3% in 2017, 5.8% in 2018, and 7.6% in 2019. what is the difference in points, between his arithmetic and geometric average annual returns?

C) Ryan invested $18,000 into cerner three years ago. corners value increased by -7.3% in 2017, 10.3% in 2018, and -5.8% in 2019. what is the difference in basis points, between her arithmetic and geometric average annual rate of returns?

Altira Corporation uses a periodic inventory system. The following information related to its merchandise inventory during the month of August 2018 is available:

Required:
Determine the inventory balance Altira would report in its August 31, 2018, balance sheet and the cost of goods sold it would report in its August 2018 income statement using each of the following cost flow methods:

U.S. Metallurgical Inc. reported the following balances in its financial statements and disclosure notes at December 31, 2017.

U.S.M.’s actuary determined that 2018 service cost is $70,000. Both the expected and actual rate of return on plan assets are 9%. The interest (discount) rate is 5%. U.S.M. contributed $130,000 to the pension fund at the end of 2018, and retirees were paid $54,000 from plan assets. (Enter you answers in millions (i.e., 10,000,000 should be entered as 10).)

Required:

1 to 4. Determine the following amounts at the end of 2018.
5. Prepare journal entries to record the pension expense, funding of plan assets, and retiree benefit payments.

Moon Company includes 1 coupon in each box of soap powder that it packs, 10 coupons being redeemable for a premium consisting of a kitchen utensil. In 2018, Moon Company purchased 46,000 premiums at $1.00 each and sold 650,000 boxes of soap powder @ $5.00 per box. Based on past experience, it is estimated that 64% of the coupons will be redeemed. During 2018, 168,000 coupons were presented for redemption.

During 2019, 38,000 premiums were purchased at $1.10. The company sold 1,100,000 boxes of soap at $5.00 and 510,000 coupons were presented for redemption.

Instructions Prepare all the entries that would be made relative to sales of soap powder and to the premium plan in both 2018 and 2019. Assume a FIFO inventory flow.

Fireval Machine Works Co. signs an agreement on Jan 1, 2018, to lease equipment to Reid company. the following information relates to the agreement:

>The term of the noncancable lease is 5 years with no renewal option. The equipment has an estimated economic life of 6 years

>the agrrement requires equal semi-annual payments, beginning on Jan 1, 2018.

>The cost of the asset of the lessor is 350,000. The fair value of the asset at Jan 1, 2018 is 450,000.

>The asset will revert ti the lessor at the end of the lease term at which time the asset is expected to have a residual value of $ 75,000 None of which is Guaranteed

Required:

Assuming the lessor desires a 10% return calculate the amount of the required rental payment. Round to nearest dollar, Show all calculations.

Dobbs Company issues 5%, two-year bonds, on December 31, 2016, with a par value of $95,000 and semiannual interest payments.

Use the above straight-line bond amortization table and prepare journal entries for the following.

Required:

(a) The issuance of bonds on December 31, 2016.

(b) The first through fourth interest payments on each June 30 and December 31.

(c) The maturity of the bond on December 31, 2018.

XYZ stock price and dividend history are as follows:

An investor buys four shares of XYZ at the beginning of 2015, buys another two shares at the beginning of 2016, sells one share at the beginning of 2017, and sells all five remaining shares at the beginning of 2018.

a. What are the arithmetic and geometric average time-weighted rates of return for the investor? (Do not round intermediate calculations. Round your answers to 2 decimal places.)

b-1. Prepare a chart of cash flows for the four dates corresponding to the turns of the year for January 1, 2015, to January 1, 2018.

Martinez, Inc. acquired a patent on January 1, 2017 for $40,900 cash. The patent was estimated to have a useful life of 10 years with no residual value. On December 31, 2018, before any adjustments were recorded for the year, management determined that the remaining useful life was 7 years (with that new estimate being effective as of January 1, 2018). On June 30, 2019, the patent was sold for $25,900.

Required:

1. Prepare the journal entry to record the acquisition of the patent on January 1, 2017.
2. Prepare the journal entry to record the annual amortization for 2017.
3. Compute the amount of amortization that would be recorded in 2018.
4. Determine the gain (loss) on sale on June 30, 2019.
5. Prepare the journal entry to record the sale of the patent on June 30, 2019.

R.S. reported pre-tax accounting income in 2017, 2018, and 2019 of $80 million, plus an additional 2017 income of $50 million from installment sales of property. However, the installment sales income is reported on the tax return when collected, in 2018 ($20 million) and 2019 ($30 million). The enacted tax rate is 40% each yr. Prepare the table calculating the annual tax payable for each yr. Prepare the journal entry for each yr.

............................. ..................... Current yr ..................Future Taxable amounts ...........................Future Taxable Amount (total)

..................................................... 2017 .............................2018 ................2019

Pretax accounting income:

Temporary difference:

Installment income

Taxable income (tax return)

Enacted tax rate:

Tax payable currently: