NGD recently acquired a new piece of land in Suffolk County on April 1, 2012. The land cost $5,000,000. NGD reports under IFRS and revalues its land. On December 31, 2017, the fair value of the land is $4,500,000. On December 31, 2020, the fair value of the land is $5,300,000.

Provide all necessary journal entries for 2012 through 2020.

4.You have on your schedule to receive street light products from your regular vendor in July 2020.On the 10^th June 2020, you learnt from the news that the Vendor’s warehouse has been destroyed by fire and that they may not be able to recover in the next 12 months.

What type of Risk is this? Mention 4 possible things you will do?

On March 31^st, 2020, you take delivery of a $100,000 T-bond that matures on October 31st, 2030. The coupon rate on the T-bond is 4.20% and the current yield to maturity on the bond is 3.80%. The last coupon payment occurred on October 31^st, 2019 and the next coupon payment occurs on April 30^th, 2020. Calculate the clean and dirty prices of this transaction.

Xenia Distribution, Incorporated

Xenia Distribution, Incorporated is a privately-held company operating in Ohio since 1990. Xenia makes all of its sales to customers on a credit basis, requiring payment within 30 days. Xenia uses the allowance method to estimate the amount currently uncollectible for its accounts receivable. During 2020, Xenia recorded a monthly provision of 1% of credit sales of as an estimate for uncollectible accounts receivable. However, at year-end, an aging of accounts receivable is prepared and the allowance for uncollectible accounts is adjusted based on an analysis of that aging. At December 31, 2019, the adjusted balance of the allowance for uncollectible accounts was $31,900, and the balance of accounts receivable was $282,400.

During 2020, Xenia wrote-off $23,400 of customer accounts that were deemed to be uncollectible, due to customers declaring bankruptcy or experiencing financial difficulties so severe that extensive collection efforts were not successful. One customer’s account with a $9,200 balance, which had been written-off in August 2018, was subsequently collected from the customer in July 2020. Xenia maintained the same monthly provision of 1% of credit sales throughout all of 2020. Monthly credit sales for 2020 are as follows:

January            77,700

February          89,400

March             55,200

April                38,900

May                 47,500

June                 63,400

July                  99,200

August             92,300

September        87,800

October            82,900

November        84,300

December         81,400

Total cash collections of accounts receivable during 2020 (not including the collection of the previously written-off account) were $859,000.

In preparation for its year-end closing process, Xenia’s controller prepared the following aging of accounts receivable as of December 31, 2020, assigning probabilities of collection based on discussions with Xenia’s credit manager:

                                         Percentage of

Age of Account Receivable       Accounts Receivable     Probability of Collection                     

0-30 days past due                          75%                                  95%                

31-60 days past due                         15%                                 85%                

61-90 days past due                           6%                                  70%                

Greater than 90 days past due           4%                                 10%                            

Requirements

a) Prepare an analysis computing the unadjusted balance in the allowance for uncollectible accounts as of 12/31/20.

b) Prepare the year-end adjusting journal entry to record bad debt expense based on the

December 31, 2020 aging of accounts receivable.

Anyone know how to do it in a Excel?

Kendra, Cogley, and Mei share income and loss in a 3:2:1 ratio. The partners have decided to liquidate their partnership. On the day of liquidation their balance sheet appears as follows.
  

Required:
For each of the following scenarios, complete the schedule allocating the gain or loss on the sale of inventory. Prepare journal entries to record the below transactions. (Do not round intermediate calculations. Amounts to be deducted or Losses should be entered with a minus sign. Round your final answers to the nearest whole dollar.)

(1) Inventory is sold for $624,000.
(2) Inventory is sold for $438,000.

Complete this question by entering your answers in the tabs below.

Required 1 Inventory

Required 1 GJ

Required 2 Inventory

Required 2 GJ

Required 3 Inventory

Required 3 GJ

Required 4 Inventory

Required 4 GJ

Complete the schedule allocating the gain or loss on the sale of inventory is $624,000.

Journal entry worksheet

Record the sale of inventory.

Note: Enter debits before credits.

On June 15, 2018, Sanderson Construction entered into a long-term construction contract to build a baseball stadium in Washington, D.C., for $220 million. The expected completion date is April 1, 2020, just in time for the 2020 baseball season. Costs incurred and estimated costs to complete at year-end for the life of the contract are as follows ($ in millions):

Required:
1. Compute the revenue and gross profit will Sanderson report in its 2018, 2019, and 2020 income statements related to this contract assuming Sanderson recognizes revenue over time according to percentage of completion.
2. Compute the revenue and gross profit will Sanderson report in its 2018, 2019, and 2020 income statements related to this contract assuming this project does not qualify for revenue recognition over time.
3. Suppose the estimated costs to complete at the end of 2019 are $80 million instead of $60 million. Compute the amount of revenue and gross profit or loss to be recognized in 2019 using the percentage of completion method.

Compute the revenue and gross profit will Sanderson report in its 2018, 2019, and 2020 income statements related to this contract assuming Sanderson recognizes revenue over time according to percentage of completion. (Enter your answers in millions. Loss amounts should be indicated with a minus sign. Use percentages as calculated and rounded in the table below to arrive at your final answer.)

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Compute the revenue and gross profit will Sanderson report in its 2018, 2019, and 2020 income statements related to this contract assuming this project does not qualify for revenue recognition over time. (Enter your answers in millions. Loss amounts should be indicated with a minus sign.)

Suppose the estimated costs to complete at the end of 2019 are $80 million instead of $60 million. Compute the amount of revenue and gross profit or loss to be recognized in 2019 using the percentage of completion method. (Enter your answers in millions. Use percentages as calculated and rounded in the table below to arrive at your final answer.)

Ubuntu Linux

HW5: text processing; scripting

1. Write a Linux command to rewrite the /var/passwd file to have a tab for each delimiter ':'. Hint: use tr

2. Write a Linux command to extract the user names and sort them. Hint: use cut

3. Write a for loop to to display a time table, e.g., 17 x 1 = 17; 17 x 2 = 34; etc., as follows:

17 x 1 = 17 17 x 2 = 34

17 x 3 = 51 17 x 4 = 68

17 x 5 = 85 17 x 6 = 102

17 x 7 = 119 17 x 8 = 136

17 x 9 = 153 17 x 10 = 170

17 x 11 = 187 17 x 12 = 204

17 x 13 = 221 17 x 14 = 238

17 x 15 = 255 17 x 16 = 272

17 x 17 = 289 4.

Write a Linux command to download the following webpage to the fail called "viral-diseases" Hint: use wget

5. Using a regular expression, write a Linux command to extract URL addresses from the viral-diseases. The URL starts with "www" and ending with "com" or "gov". Hint: use grep -E 6. Write a bash shell to

1) using a for loop to create the directory called "jyoon_0" to "jyoon_9";

2) change directory to each of the directories created,

3) write the sentence "Yoon visited in directory jyoon_0t" in the file jyoon_0.txt",

4) attach the timestamp to the file;

5) writhe the same sentence to the standard output device,

6) the timestamp too;

7) do this to all those 10 directories, and

8) at the end, write "All done" to the standard output device. So, the example standard output:

jyoon@MT-UBUN01:~$ ./hw5create.sh

Yoon visited jyoon_0 directory

Thu 09 Jul 2020 11:48:42 AM EDT

Yoon visited jyoon_1 directory

Thu 09 Jul 2020 11:48:42 AM EDT

Yoon visited jyoon_2 directory

Thu 09 Jul 2020 11:48:42 AM EDT

Yoon visited jyoon_3 directory

Thu 09 Jul 2020 11:48:42 AM EDT

Yoon visited jyoon_4 directory

Thu 09 Jul 2020 11:48:42 AM EDT

Yoon visited jyoon_5 directory

Thu 09 Jul 2020 11:48:42 AM EDT

Yoon visited jyoon_6 directory

Thu 09 Jul 2020 11:48:42 AM EDT

Yoon visited jyoon_7 directory

Thu 09 Jul 2020 11:48:42 AM EDT

Yoon visited jyoon_8 directory

Thu 09 Jul 2020 11:48:42 AM EDT

Yoon visited jyoon_9 directory

Thu 09 Jul 2020 11:48:42 AM EDT

All Created!

One of the directories has the following:

jyoon@MT-UBUN01:~$ cd jyoon_5

jyoon@MT-UBUN01:~/jyoon_5$ ls

jyoon_5.txt jyoon@MT-UBUN01:~/jyoon_5$ cat jyoon_5.txt

Yoon visited jyoon_5 directory

Thu 09 Jul 2020 11:48:42 AM EDT

jyoon@MT-UBUN01:~/jyoon_5$

Note that the directory name, file name and your name should be formed with your login ID, but not jyoon, which is not yours!

Read the posted article “As Swiss Economy Blooms, Central Bank Presents a Quandary,” from the March 15, 2018 Wall Street Journal (author Brian Blackstone) about the most recent policy decision by the Swiss National Bank (SNB), Switzerland’s central bank. Please note: Switzerland currently floats its currency. Then answer the following questions about the article:

Explain why the SNB decided to keep its policy rate at -0.75%. Use the EUD and r equations to help with your explanation.

Why does the author say that “the central bank is still in crisis mode?” (Hint: look at the reported indicators describing current Swiss macro performance.)

How has the low policy rate affected the Swiss housing market? Is this a potential problem?

Does this article suggest a potential conflict between internal balance (IB) and external balance (EB) in Switzerland?

Switzerland is facing a dilemma: The economy is growing but the central bank is still in crisis mode. It’s a contradiction that confronts many other wealthy economies in Europe, but it's one that is particularly striking in Switzerland. The economy is on the up but the Swiss National Bank has kept the deposit rate at its current level since January 2015, when the bank also unexpectedly abandoned a ceiling on the franc’s value against the euro. On Thursday, the SNB kept its key policy rate at minus 0.75%. “The negative interest rate and the SNB’s willingness to intervene in the foreign exchange market as necessary therefore remain essential. This keeps the attractiveness of Swiss franc investments low and eases pressure on the currency,” the SNB said Thursday. The euro traded at 1.1690 francs after the decision, little changed from Wednesday. Yet after a soft patch early last year, Swiss gross domestic product has expanded into the 2% annualized range recently. The unemployment rate was just 3.2% in January. Its trade surplus was 35 billion francs ($37.04 billion) last year, roughly 5% of Swiss GDP. In its policy statement Thursday, the SNB said it expects Swiss GDP to expand around 2% this year amid a broader pickup in the global economy. Unemployment should decline gradually, it said, while inflation is expected to accelerate to 2.2% by the end of 2020. It's an enviable mix. Yet against this favorable backdrop, such a deeply negative deposit rate—coupled with the SNB’s reiteration that it's willing to intervene in currency markets to weaken the franc if needed—seems out of place especially with Swiss policy makers still not even outlining a pathway to tighter policy. “I think that SNB runs the risk of falling behind the curve as the global economy is recovering,” said Stefan Gerlach, chief economist at EFG Bank and former deputy governor of Ireland’s central bank. It isn’t alone. Sweden and Denmark—which like Switzerland are outside the eurozone—also have negative policy rates despite healthy economies. Norway’s policy rate is just 0.5% but unlike the Swiss, its central bank on Thursday signaled that it may raise interest rates soon. Within the eurozone, Germany’s strong economy appears at odds with the -0.4% deposit rate and quantitative easing program that the ECB has installed for the euro area as a whole. The Federal Reserve has raised interest five times in two-plus years, but at a range of 1.25-1.5%, the Fed-funds rate is quite low. The SNB is constrained in raising interest rates by a trio of forces: the strong franc; low inflation; and the ECB. The euro fetched around 1.17 early Thursday. Though stronger than it was a year ago against the Swiss currency, the euro remains well below the 1.4 franc to 1.6 franc range before the eurozone’s debt crisis escalated in 2010. That has made Swiss products more expensive in Europe, the source of much of the country’s exports. Meanwhile, annual inflation was just 0.6% in February, well below rate in the U.S. and Europe. Unlike the Federal Reserve, European Central Bank and others, the SNB doesn’t target 2% inflation. It has a broader goal of keeping inflation under 2%, making it less necessary to respond to superlow inflation with easy-money policies. Still, with price pressures so low, the SNB has little to fear from an inflation standpoint by keeping rates negative. But there are other consequences, particularly on housing. The residential investment property sector “is subject to the risk of a price correction over the medium term” given its strong growth in recent years, the SNB said Thursday. Yet it's difficult for the Swiss to use interest rates to prick potential housing bubbles. Because Switzerland is a small, open economy highly dependent on Europe, the SNB is sensitive to policies taken by the ECB. As a result, many economists think the SNB will wait for the ECB to start raising rates before doing so itself, and the ECB has signaled it's no rush to increase its own negative deposit rate. The ECB is in the process of gradually scaling back its asset-purchase program. The SNB’s inaction “is far from a catastrophe, but it would be desirable to talk about how they’ll adjust policy,” said Mr. Gerlach.

A home is purchased for $134550. The homeowner pays $26910 down and finances the balance for 20 years at 8% compounded monthly.

a. Find the size of the payments rounded up to the next cent.
$  

b. How much of the first payment is interest?
$  

c. How much is still owed on the loan just after 95 payments.
$  

d. What is the owner's equity after 95 payments?
$  

e. How much is owed just before the 95 payment is actually made?
$  



Just after 95 payments are made, the loan is refinanced at 6.5% compounded monthly.

a. If the duration of the original loan remains the same, find the size of the new payments rounded up to the next cent.
$  

b. If money is worth 5.25% compounded monthly to the homeowner, what is the present value of the savings in interest at the time of refinancing?
$  

c. If the homeowner continues with the original payments, find the number of full payments required to pay off the loan.
full payments

d. Find the size of the smaller concluding payment at the end of the next month.
$

A home is purchased for $153200. The homeowner pays $30640 down and finances the balance for 30 years at 7.5% compounded monthly.

a. Find the size of the payments rounded up to the next cent.

b. How much of the first payment is interest?

c. How much is still owed on the loan just after 110 payments.

d. What is the owner's equity after 110 payments?

e. How much is owed just before the 110 payment is actually made?

Just after 110 payments are made, the loan is refinanced at 6% compounded monthly.

a. If the duration of the original loan remains the same, find the size of the new payments rounded up to the next cent.

b. If money is worth 5.25% compounded monthly to the homeowner, what is the present value of the savings in interest at the time of refinancing?

c. If the homeowner continues with the original payments, find the number of full payments required to pay off the loan. full payments

d. Find the size of the smaller concluding payment at the end of the next month.