An ESOP under which employees may purchase shares of the company for $ 20 per share was established . The option premium is $ .50 per share and 20,000 shares were set aside for the plan. On January 1, 2020, 12,000 options are purchased by employees. On December 1, 2020, all 12,000 options are exercised. Required Prepare the journal entries to record the above events

GDP from each year:

a) Calculate Economic Growth from 2018 to 2023. When is the highest growth?

b) Calculate the Constant GDP of 2018, 2019, 2021, 2022, 2023 based on 2020 price.

2. Capital Company issued $600,000, 10%, 20-year bonds on January 1, 2020, at 103. Interest is payable semiannually on July 1 and January 1. The effective interest rate is 8%. Capital uses the straight-line method of amortization and has a calendar year end. Instructions: Prepare all journal entries made in 2020 related to the bond issue.

however Henry is building a fireplace in his home, the fireplace will require 2500 bricks.

a) if the cost of chimney brick in 2017 $2.10. calculate the material cost of Henry's project in 2020 . the chimney brick index (CBI) was 442 in 2017 and is expected to be 651 in 2020

b) estimate the material cost of similar fireplace to be built in the year 2023
what assumption did you make?

Mamas & Papas, Inc. issues 7%, 10-year bonds with a face amount of $80,000 for $74,564 on January 1, 2020. The market interest rate for bonds of similar risk and maturity is 8%. Interest is paid semiannually on June 30 and December 31.

1. Record the bond issue in the journal.

2. Record in the journal the first interest payment on June 30, 2020.

On January 1, 2020 Beaver Inc. determines that it wants to purchase 2,000 tons of wheat in January 2021. Thus, Beaver Inc. enters into a futures contract that gives Beaver Inc. the right and obligation to purchase 2,000 tons of wheat for $75 per ton. The contract is classified as a cash flow hedge and expires in January 2021.

Required:

1. On January 1, 2020 the market price for a ton of wheat is $75. What journal entry does Beaver Inc. record associated with this hedge on this date?

2. On June 30, 2020 the market price for a ton of wheat is $90. What journal entry does Beaver Inc. record associated with this hedge on this date?

3. On December 31, 2020 the market price for a ton of wheat is $70. What journal entry does Beaver Inc. record associated with this hedge on this date?

4. On January 1, 2021 Beaver Inc. purchases 2,000 tons of wheat at the market price of $70 and settles the hedge. What journal entries does Beaver Inc. record associated with its purchased of wheat and its hedge on this date?

Laura Leasing Company signs an agreement on January 1, 2020, to lease equipment to Windsor Company. The following information relates to this agreement. 1. The term of the non-cancelable lease is 3 years with no renewal option. The equipment has an estimated economic life of 5 years. 2. The fair value of the asset at January 1, 2020, is $66,000. 3. The asset will revert to the lessor at the end of the lease term, at which time the asset is expected to have a residual value of $5,000, none of which is guaranteed. 4. The agreement requires equal annual rental payments of $21,328 to the lessor, beginning on January 1, 2020. 5. The lessee’s incremental borrowing rate is 5%. The lessor’s implicit rate is 4% and is unknown to the lessee. 6. Windsor uses the straight-line depreciation method for all equipment.

Prepare an amortization schedule that would be suitable for the lessee for the lease term

Prepare all of the journal entries for the lessee for 2020 and 2021 to record the lease agreement, the lease payments, and all expenses related to this lease. Assume the lessee’s annual accounting period ends on December 31

Calculate a price index for 2018, 2019, and 2020 using the following information about prices. Let the market basket consist of the price of one pizza pie, two sodas, and four caffe lattes. Let the year 2018 be the base year (with an index value of 100). See the instruction video, "inflation.ppsm".

A. Calculate the price index for each year. To compute the price index for each year, you must first compute cost of market basket for each year (Show mathematical steps in detail to receive full credits).

B. How much inflation occurred between 2018 and 2019? Between 2018 and 2020? In other words, what is the change in the price index between 2018 vs 2019 and 2018 vs 2020?

1. Show mathematical steps in detail

2. interpret what the computed numbers (inflation rate) indicate in detail

Exercise 20-09 (Part Level Submission) Sheffield Enterprises provides the following information relative to its defined benefit pension plan.

Balances or Values at December 31, 2020

Projected benefit obligation $2,726,200

Accumulated benefit obligation 1,996,100

Fair value of plan assets 2,263,000

Accumulated OCI (PSC) 210,000

Accumulated OCI—Net loss (1/1/20 balance, 0) 45,900

Pension liability 463,200

Other pension plan data for 2020: Service cost $94,200

Prior service cost amortization 42,100

Actual return on plan assets 130,000

Expected return on plan assets 175,900

Interest on January 1, 2020, projected benefit obligation 250,700

Contributions to plan 92,300 Benefits paid 139,800

(c)

Compute the amount of accumulated other comprehensive income reported at December 31, 2020. (Enter loss using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).)

. Complete the required tasks utilizing excel and label everything. All work must be shown

FKG Inc. carries the following debt and equity securities on its books at December 31, 2020. All securities were purchased during 2020.

Trading Securities

Company                                                                   Cost                            Fair Value, 12/31/20        Fair Value, 12/31/21

Company A Investment                                      $ 25,000                $ 13,000                                  $ 20,000

Company B Investment                                      $ 13,000                $ 20,000                                  $ 20,000

Company C Investment                                      $ 35,000                $30,000                                   $ 25,000

Available-for-Sale Securities

Company                                                                     Cost                          Fair Value, 12/31/20        Fair Value, 12/31/21

Company X Investment                                      $210,000              $130,000                                $ 50,000

Company Y Investment                                       $ 50,000                $60,000                                   $ 70,000