The Heinrich Tire Company recalled a tire in its subcompact line in December 2018. Costs associated with the recall were originally thought to approximate $47 million. Now, though, while management feels it is probable the company will incur substantial costs, all discussions indicate that $47 million is an excessive amount. Based on prior recalls in the industry, management has provided the following probability distribution for the potential loss: (FV of $1, PV of $1, FVA of $1, PVA of $1, FVAD of $1 and PVAD of $1) (Use appropriate factor(s) from the tables provided.)

An arrangement with a consortium of distributors requires that all recall costs be settled at the end of 2019. The risk-free rate of interest is 5%.

Required:
1. & 2. By the traditional approach to measuring loss contingencies, what amount would Heinrich record at the end of 2018 for the loss and contingent liability? For the remainder of this problem, apply the expected cash flow approach of SFAC No. 7. Estimate Heinrich’s liability at the end of the 2018 fiscal year.
3. to 5. Prepare the necessary journal entries.

The Heinrich Tire Company recalled a tire in its subcompact line in December 2018. Costs associated with the recall were originally thought to approximate $47 million. Now, though, while management feels it is probable the company will incur substantial costs, all discussions indicate that $47 million is an excessive amount. Based on prior recalls in the industry, management has provided the following probability distribution for the potential loss: (FV of $1, PV of $1, FVA of $1, PVA of $1, FVAD of $1 and PVAD of $1) (Use appropriate factor(s) from the tables provided.)

An arrangement with a consortium of distributors requires that all recall costs be settled at the end of 2019. The risk-free rate of interest is 5%.

Required:
1. & 2. By the traditional approach to measuring loss contingencies, what amount would Heinrich record at the end of 2018 for the loss and contingent liability? For the remainder of this problem, apply the expected cash flow approach of SFAC No. 7. Estimate Heinrich’s liability at the end of the 2018 fiscal year.
3. to 5. Prepare the necessary journal entries.

27. Listed below are ten terms followed by a list of phrases that describe or characterize the terms. Match each phrase with the best term placing the number designating the term in the space provided.

1. Stock split
2. Retained earnings

3. Stock dividends

4. Statement of stockholders' equity

5. Preferred stock

6. Articles of incorporation

7. Additional paid-in capital
8. Venture capital firms

9. Organization chart 10. Dividends

Provide additional financing, often in the millions,
for a percentage ownership in the company. ____

A mixture of attributes somewhere between common stock and bonds payable. ____

Summarizes the changes in the balance in each stockholders' equity account over a period of time. ____

Traces the line of authority for a typical corporation. ____

The portion of the cash proceeds above par value. ____

A large stock dividend that includes a reduction in the par or stated value per share. ____

Represents all net income, less all dividends, since the company began. ____

Distributions by a corporation to its stockholders. ____

Additional shares of the companies' own stock given to stockholders. ____

Describes the nature of the firm's business activities, the shares to be issued, and the composition of the initial board of directors. ____

Variable costs per unit: Manufacturing: Direct materials $ 27 Direct labor $ 13 Variable manufacturing overhead $ 2 Variable selling and administrative $ 1 Fixed costs per year: Fixed manufacturing overhead $ 320,000 Fixed selling and administrative expenses $ 90,000 During its first year of operations, Walsh produced 50,000 units and sold 40,000 units. During its second year of operations, it produced 40,000 units and sold 50,000 units. The selling price of the company’s product is $58 per unit.

What your top three takeaways are from this article. As a supervisor or manager, how would you apply these points?

The most important influence on ethical behavior in the workplace is overall company culture, which determines whether employees are valued or belittled and whether stakeholders are treated with trust or suspicion. A company that bases its policies and decisions on deeply rooted ethics will create a culture in which employees are naturally disposed to act ethically, too. The type of integrity that is at the root of an ethical company culture cannot be faked or taught, but it can be contagious and inspiring. As Jill Young of South University's School of Business explains, "If you act with integrity, ethical behavior is just a natural progression."
Customer Service
The values that shape an ethical company culture influence the relationships that a business maintains with its customers. An ethical company will train employees to treat customers with dignity and respect, and to be fair and honest with them. Employees who see such behavior as an integral part of customer service will understand the depth of the company's commitment to ethical behavior. They will likely model their work accordingly because ethical behavior can inspire kindness, honesty and fairness.
Human Resources
Ethical human resource policies are vital to creating and maintaining an ethical company culture. Employees who are treated with basic decency are more likely to be content with their jobs. When employees feel exploited, they are prone to overt unethical behavior such as theft, as well as more subtle offenses such as using company resources for personal gain. When employees are fairly compensated for their work, they are likely to give more to the company and less inclined to take advantage of opportunities to cut corners or exploit situations for personal gain
Product Integrity
A company culture that inspires ethical behavior in its employees will probably provide products and services created with ethical values in mind. For example, a food business that uses optimally fresh ingredients handled in a clean and compliant facility most likely won't have to be dishonest with customers who get sick from eating the company's food. Employees who know they can stand behind the products they sell will probably be inspired to act ethically in other facets of their work life.
Competitive Integrity
Although a company's competitors are often seen as enemies, a truly ethical company extends its solid values to the way it treats its competitors as well as its stakeholders. Calling a competitor, pretending to be a customer and asking questions that you will use to create competing products is dishonest. Employees who are asked to engage in this type of behavior get the message that all company values are questionable, and this impression will interfere with your overall efforts to maintain an ethical workplace.

The general ledger of Pipers Plumbing at January 1, 2021, includes the following account balances:

The following is a summary of the transactions for the year:

The following information is available for the adjusting entries.

Depreciation for the year on the machinery is $7,800. Plumbing supplies remaining on hand at the end of the year equal $1,000. Of the $9,800 paid in advance by customers, $6,900 of the work has been completed by the end of the year. Accrued utilities at year-end amounted to $6,100.

1. Record each of the transactions listed above in the 'General Journal' tab (these are shown as items 1 - 7). Review the 'General Ledger' and the 'Trial Balance' tabs to see the effect of the transactions on the account balances.

2. Record the adjusting entries in the 'General Journal' tab (these are shown as items 8-10).

3. Review the adjusted 'Trial Balance' as of December 31, 2021.

4. Prepare an income statement for the period ended December 31, 2021, in the 'Income Statement' tab.

5. Prepare a classified balance sheet as of December 31, 2021 in the 'Balance Sheet' tab.

6. Record the closing entries in the 'General Journal' tab (these are shown as items 11-13).

A) Perichondria B) Melanocytes C) RhoA D) Rac E) Runx2 73. Formed by neural crest cells 74. Promotes actin polymerization. 75. Promotes formation of osteoblasts 76. Gives rise to osteoblasts 77. Expressed at leading edge of migrating neural crest cells

Below are the jersey numbers of 11 players randomly selected from a football team. Find the​ range, variance, and standard deviation for the given sample data. What do the results tell​ us? 99 53 74 58 1 98 10 19 7 48 61

The following is the frequency distribution for the speeds of a sample of automobiles traveling on an interstate highway.

Find the median and the mode.

You recently purchased a stock that is expected to earn 11 percent in a booming economy, 10 percent in a normal economy and lose 5 percent in a recessionary economy. There is a 15 percent probability of a boom, a 74 percent chance of a normal economy. What is your expected rate of return on this stock?