Swanson & Hiller, Inc., purchased a new machine on September 1 of the current year at a cost of $149,000. The machine’s estimated useful life at the time of the purchase was five years, and its residual value was $9,000. The company reports on a calendar year basis.

Please help me with the equations how to work this problem.

Required:
a-1. Prepare a complete depreciation schedule, beginning with the current year, using the straight-line method. (Assume that the half-year convention is used).

a-2. Prepare a complete depreciation schedule, beginning with the current year, using the 200 percent declining-balance method. (Assume that the half-year convention is used).

a-3. Prepare a complete depreciation schedule, beginning with the current year, using the 150 percent declining-balance, switching to straight-line when that maximizes the expense. (Assume that the half-year convention is used).

b. Which of the three methods computed in part a is most common for financial reporting purposes?

c. Assume that Swanson & Hiller sells the machine on December 31 of the fourth year for $31,000 cash. Compute the resulting gain or loss from this sale under each of the depreciation methods used in part a.

The following is the summarized financial information of Number Holding Limited for the year ended 31 December, 2017 (with comparative figures):

Statement of profit or loss for the year ended 31 December

Other information:

1 Balances as of 31 December 2015:

Assume all sales and purchases are on credit terms.

Industry norms:

Required

Calculate the following financial ratios for 2017 and 2016 (round up to two decimal places):

1. Current ratio

2. Quick ratio

3. Accounts receivable turnover (use average accounts receivable)

4. Inventory turnover (use average inventory)

5. Net profit margin

6. Return on assets (use average total assets)

7. Return on shareholders’ equity (use average shareholders’equity)

Based on the information and your calculations in (a) above, comment on the company’s liquidity and profitability.

Last year Minden Company introduced a new product and sold 25,100 units of it at a price of $93 per unit. The product's variable expenses are $63 per unit and its fixed expenses are $838,200 per year.

Required:

1. What was this product's net operating income (loss) last year?

2. What is the product's break-even point in unit sales and dollar sales?

3. Assume the company has conducted a marketing study that estimates it can increase annual sales of this product by 5,000 units for each $2 reduction in its selling price. If the company will only consider price reductions in increments of $2 (e.g., $68, $66, etc.), what is the maximum annual profit that it can earn on this product? What sales volume and selling price per unit generate the maximum profit?

4. What would be the break-even point in unit sales and in dollar sales using the selling price that you determined in requirement 3?

Develop an amortization schedule for a 5-year loan of $25,000 at an interest rate of 7.5%, assuming equal annual installments at the end of each year. Use the same format that we used in class.

Please show work in Excel

Baird Company engaged in the following transactions for the year 2016. The beginning cash balance was $28,300 and the ending cash balance was $76,261.

1. Sales on account were $283,900. The beginning receivables balance was $93,900 and the ending balance was $76,700.

2. Salaries expense for the period was $51,970. The beginning salaries payable balance was $3,518 and the ending balance was $2,010.

3. Other operating expenses for the period were $121,700. The beginning other operating expenses payable balance was $4,210 and the ending balance was $7,953.

4. Recorded $19,580 of depreciation expense. The beginning and ending balances in the Accumulated Depreciation account were $14,230 and $33,810, respectively.

5. The Equipment account had beginning and ending balances of $210,790 and $238,990, respectively. There were no sales of equipment during the period.

6. The beginning and ending balances in the Notes Payable account were $52,100 and $149,600, respectively. There were no payoffs of notes during the period.

7. There was $6,347 of interest expense reported on the income statement. The beginning and ending balances in the Interest Payable account were $1,683 and $1,122, respectively.

8. The beginning and ending Merchandise Inventory account balances were $90,240 and $108,288, respectively. The company sold merchandise with a cost of $155,360 (cost of goods sold for the period was $155,360). The beginning and ending balances in the Accounts Payable account were $9,950 and $12,040, respectively.

9. The beginning and ending balances in the Notes Receivable were $4,800 and $10,100, respectively. Notes receivable result from long-term loans made to employees. There were no collections from employees during the period.

10. "The beginning and ending balances in the Common Stock account were $100,000 and $124,000, respectively. The increase was caused by the issue of common stock for cash.

11. Land had beginning and ending balances of $54,200 and $42,461, respectively. Land that cost $11,739 was sold for $8,660, resulting in a loss of $3,079.

12. The tax expense for the period was $8,260. The Taxes Payable account had a $990 beginning balance and an $912 ending balance.

13. The Investments account had beginning and ending balances of $22,400 and $25,200, respectively. The company purchased investments for $17,800 cash during the period, and investments that cost $15,000 were sold for $26,000, resulting in a $11,000 gain.

Required

1. Determine the amount of cash flow for each item and indicate whether the item should appear in the operating, investing, or financing activities section of a statement of cash flows. Assume Baird Company uses the direct method for showing net cash flow from operating activities.

2. Prepare a statement of cash flows using the direct method.

Determine the amount of cash flow for each item and indicate whether the item should appear in the operating, investing, or financing activities section of a statement of cash flows. Assume Baird Company uses the direct method for showing net cash flow from operating activities. (Any cash outflow should be indicated by a minus sign. Select "No effect" if there is no effect (i.e., zero variance).)

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Equipment1 was purchased at the beginning of the year 2016 for $50,000 cash. No salvage/residual value. Straight-line depreciation is used over a 10-year life.

Equipment2 was also purchased at the beginning of the year for 550,000 (no salvage) 10 year life. We decided to use SL method. The equipment2 required a $5,000 repair by year-end.

Equipment3 was purchased on 6/1 for 100,000 (20,000 salvage value)., 10 year life. We decided to use SYD as a depreciation method. At 12/31/2016 it required a capital improvements of $40,000 which we signed a note to pay in 9 months.

Prepare Journal entries for all transactions

Note: This problem is for the 2018 tax year.

Lance H. and Wanda B. Dean are married and live at 431 Yucca Drive, Santa Fe, NM 87501. Lance works for the convention bureau of the local Chamber of Commerce, while Wanda is employed part-time as a paralegal for a law firm.

During 2018, the Deans had the following receipts:

Wanda was previously married to John Allen. When they divorced several years ago, Wanda was awarded custody of their two children, Penny and Kyle. (Note: Wanda has never issued a Form 8332 waiver.) Under the divorce decree, John was obligated to pay alimony and child support—the alimony payments were to terminate if Wanda remarried.

In July, while going to lunch in downtown Santa Fe, Wanda was injured by a tour bus. As the driver was clearly at fault, the owner of the bus, Roadrunner Touring Company, paid her medical expenses (including a one-week stay in a hospital). To avoid a lawsuit, Roadrunner also transferred $90,000 to her in settlement of the personal injuries she sustained.

The Deans had the following expenditures for 2018:

The life insurance policy was taken out by Lance several years ago and designates Wanda as the beneficiary. As a part-time employee, Wanda is excluded from coverage under her employer's pension plan. Consequently, she provides for her own retirement with a traditional IRA obtained at a local trust company. Because the mayor is a member of the local Chamber of Commerce, Lance felt compelled to make the political contribution.

The Deans' household includes the following, for whom they provide more than half of the support:

Penny graduated from high school on May 9, 2018, and is undecided about college. During 2018, she earned $8,500 (placed in a savings account) playing a harp in the lobby of a local hotel. Wayne is Wanda's widower father who died on January 20, 2018. For the past few years, Wayne qualified as a dependent of the Deans.

Federal income tax withheld is $5,200 (Lance) and $2,100 (Wanda). The proper amount of Social Security and Medicare tax was withheld.

Required:

Determine the Federal income tax for 2018 for the Deans on a joint return by providing the following information that would appear on Form 1040 and Schedule A. They do not want to contribute to the Presidential Election Campaign Fund. All members of the family had health care coverage for all of 2018. If an overpayment results, it is to be refunded to them.

The following items are taken from the financial statements of Novak Company for the year ending December 31, 2022:

can you explain ( Income Statement, Balance Sheet, Current Ratio, Debt to assets ratio %, $ Working capital, $ Earnings per share value????)

CROP GROWING SKYSCRAPERS

By the year 2050, nearly 80% of the Earth’s population will live in urban centres. Applying the most conservative estimates to current demographic trends, the human population will increase by about three billion people by then. An estimated 109 hectares of new land (about 20% larger than Brazil) will be needed to grow enough food to feed them, if traditional farming methods continue as they are practised today.

At present, throughout the world, over 80% of the land that is suitable for raising crops is in use. Historically, some 15% of that has been laid waste by poor management practices. What can be done to ensure enough food for the world’s population to live on ?

The concept of indoor farming is not new, since hothouse production of tomatoes and other produce has been in vogue for some time. What is new is the urgent need to scale up this technology to accommodate another three billion people. Many believe an entirely new approach to indoor farming is required, employing cutting-edge technologies. One such proposal is for the ‘Vertical Farm’. The concept is of multi-storey buildings in which food crops are grown in environmentally controlled conditions. Situated in the heart of urban centres, they would drastically reduce the amount of transportation required to bring food to consumers. Vertical farms would need to be efficient, cheap to construct and safe to operate. If successfully implemented, proponents claim, vertical farms offer the promise of urban renewal, sustainable production of a safe and varied food supply (through year-round production of all crops), and the eventual repair of ecosystems that have been sacrificed for horizontal farming.

It took humans 10,000 years to learn how to grow most of the crops we now take for granted. Along the way, we despoiled most of the land we worked, often turning verdant, natural eco-zones into semi-arid deserts. Within that same time frame, we evolved into an urban species, in which 60% of the human population now lives vertically in cities. This means that, for the majority, we humans have shelter from the elements, yet we subject our food-bearing plants to the rigours of the great outdoors and can do no more than hope for a good weather year. However, more often than not now, due to a rapidly changing climate, that is not what happens. Massive floods, long droughts, hurricanes and severe monsoons take their toll each year, destroying millions of tons of valuable crops.

The supporters of vertical farming claim many potential advantages for the system. For instance, crops would be produced all year round, as they would be kept in artificially controlled, optimum growing conditions.

There would be no weather-related crop failures due to droughts, floods or pests. All the food could be grown organically, eliminating the need for herbicides, pesticides and fertilisers.

The system would greatly reduce the incidence of many infectious diseases that are acquired at the agricultural interface.

Although the system would consume energy, it would return energy to the grid via methane generation from composting non-edible parts of plants. It would also dramatically reduce fossil fuel use, by cutting out the need for tractors, ploughs and shipping.

A major drawback of vertical farming, however, is that the plants would require artificial light. Without it, those plants nearest the windows would be exposed to more sunlight and grow more quickly, reducing the efficiency of the system. Single-storey greenhouses have the benefit of natural overhead light; even so, many still need artificial lighting.

A multi-storey facility with no natural overhead light would require far more. Generating enough light could be prohibitively expensive, unless cheap, renewable energy is available, and this appears to be rather a future aspiration than a likelihood for the near future.

One variation on vertical farming that has been developed is to grow plants in stacked trays that move on rails. Moving the trays allows the plants to get enough sunlight. This system is already in operation, and works well within a single-storey greenhouse with light reaching it from above: it Is not certain, however, that it can be made to work without that overhead natural light.

Vertical farming is an attempt to address the undoubted problems that we face in producing enough food for a growing population. At the moment, though, more needs to be done to reduce the detrimental impact it would have on the environment, particularly as regards the use of energy. While it is possible that much of our food will be grown in skyscrapers in future, most experts currently believe it is far more likely that we will simply use the space available on urban rooftops.

1. The contribution of traditional farming method is expected to *

2. Cutting-edge technologies in executing new idea like ‘vertical farm’ is necessary as......

3. Factors like efficiency, economical and high level of safety in regards to operation should be......

4. As the crops get exposed to the adversity of the weather,.........

5.  The vertical farming method.........

At the beginning of the year, Tennyson Auto Parts had an accounts receivable balance of $31,800 and a balance in the allowance for doubtful accounts of $2,980 (credit). During the year, Tennyson had credit sales of $624,300, collected accounts receivable in the amount of $602,700, wrote off $18,600 of accounts receivable, and had the following data for accounts receivable at the end of the period: Accounts Receivable Age Amount Proportion Expected to Default Current $22,400 0.01 1–15 days past due 5,300 0.02 16–45 days past due 3,100 0.08 46–90 days past due 3,600 0.15 Over 90 days past due 2,400 0.30 $36,800 Required: 1. Determine the desired postadjustment balance in allowance for doubtful accounts. $ 2. Determine the balance in allowance for doubtful accounts before the bad debt expense adjusting entry is posted. $ 15,620 3. Compute bad debt expense. $ Feedback 1. The aging method attempts to estimate the ending balance in the Allowance for Doubtful Accounts. 2. Using T-accounts, start with the balance at the beginning of the year, make the necessary debits and/or credits for the transactions that occurred during the year, and calculate the necessary write-offs to achieve the appropriate ending balance. 3. The aging method attempts to estimate the ending balance in the Allowance for Doubtful Accounts. 4. Prepare the adjusting entry to record bad debt expense. Bad Debt Expense Allowance for Doubtful Accounts Record adjusting entry for bad debt expense estimate Feedback 4. The aging method attempts to estimate the ending balance in the Allowance for Doubtful Accounts. Feedback Partially correct