What are the journal entries for the following transaction?

A company entered into a two-year loan of $20,000,000, with a 20% interest rate payable semi-annually April 1 and October 1 with no principal due until maturity. The debt is convertible into shares of common stock at $1.50 per share. The company incurred $1,5000,000 in financing costs, paid to the issuer.

Swanson & Hiller, Inc., purchased a new machine on September 1 of the current year at a cost of $130,000. The machine’s estimated useful life at the time of the purchase was five years, and its residual value was $10,000. The company reports on a calendar year basis. 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 $29,500 cash. Compute the resulting gain or loss from this sale under each of the depreciation methods used in part a.

Decker Manufacturing is preparing its master budget for the first quarter of the upcoming year. The following data pertain to Decker Manufacturing's operations 1: Data Table Current Assets as of December 31 (prior year): Cash $ 4,600 Accounts receivable, net $ 46,000 Inventory $ 15,500 Property, plant, and equipment, net $ 123,000 Accounts payable $ 43,000 Capital stock $ 124,000 Retained earnings $ 22,700 a. Actual sales in December were $71,000. Selling price per unit is projected to remain stable at $12 per unit throughout the budget period. Sales for the first five months of the upcoming year are budgeted to be as follows: January $ 99,600 February $ 118,800 March $ 115,200 April $ 108,000 May $ 103,200 b. Sales are 35% cash and 65% credit. All credit sales are collected in the month following the sale. c. Decker Manufacturing has a policy that states that each month's ending inventory of finished goods should be 10% of the following month's sales (in units). d. Of each month's direct material purchases, 20% are paid for in the month of purchase, while the remainder is paid for in the month following purchase. Three pounds of direct material is needed per unit at $2.00 per pound. Ending inventory of direct materials should be 20% of next month's production needs. e. Most of the labor at the manufacturing facility is indirect, but there is some direct labor incurred. The direct labor hours per unit is 0.05. The direct labor rate per hour is $9 per hour. All direct labor is paid for in the month in which the work is performed. The direct labor total cost for each of the upcoming three months is as follows: January $ 3,807 February $ 4,442 March $ 4,293 f. Monthly manufacturing overhead costs are $5,500 for factory rent, $2,900 for other fixed manufacturing expenses, and $1.10 per unit for variable manufacturing overhead. No depreciation is included in these figures. All expenses are paid in the month in which they are incurred. g. Computer equipment for the administrative offices will be purchased in the upcoming quarter. In January, Decker Manufacturing will purchase equipment for $5,000 (cash), while February's cash expenditure will be $12,200 and March's cash expenditure will be $16,600. h. Operating expenses are budgeted to be $1.25 per unit sold plus fixed operating expenses of $1,800 per month. All operating expenses are paid in the month in which they are incurred. No depreciation is included in these figures. i. Depreciation on the building and equipment for the general and administrative offices is budgeted to be $5,000 for the entire quarter, which includes depreciation on new acquisitions. j. Decker Manufacturing has a policy that the ending cash balance in each month must be at least $4,000. It has a line of credit with a local bank. The company can borrow in increments of $1,000 at the beginning of each month, up to a total outstanding loan balance of $150,000. The interest rate on these loans is 1% per month simple interest (not compounded). The company would pay down on the line of credit balance in increments of $1,000 if it has excess funds at the end of the quarter. The company would also pay the accumulated interest at the end of the quarter on the funds borrowed during the quarter. k. The company's income tax rate is projected to be 30% of operating income less interest expense. The company pays $10,000 cash at the end of February in estimated taxes. Requirement 1. Prepare a schedule of cash collections for January, February, and March, and for the quarter in total Requirement 2. Prepare a production budget. (Hint: Unit sales = Sales in dollars / Selling price per unit.) Requirement 3. Prepare a direct materials budget. (Round your answers to the nearest whole dollar.) Requirement 4. Prepare a cash payments budget for the direct material purchases from Requirement 3. (Round your answers to the nearest whole dollar.) Requirement 5. Prepare a cash payments budget for direct labor. Requirement 6. Prepare a cash payments budget for manufacturing overhead costs. (Round your answers to the nearest whole dollar.) Requirement 7. Prepare a cash payments budget for operating expenses. (Round your answers to the nearest whole dollar.) Requirement 8. Prepare a combined cash budget. (If a box is not used in the table leave the box empty; do not enter a zero. Use parentheses or a minus sign for negative cash balances and financing payments.) Requirement 9. Calculate the budgeted manufacturing cost per unit (assume that fixed manufacturing overhead is budgeted to be $0.80 per unit for the year). (Round your answer to the nearest cent Requirement 10. Prepare a budgeted income statement for the quarter ending March 31. (Hint: Cost of goods sold = Budgeted cost of manufacturing one unit x Number of units sold.) (Round your answers to the nearest whole dollar.)

Assume that you are deciding whether or not to acquire a four-year university degree in economics. Your only consideration at this moment is the degree as an investment for yourself. The direct costs per year are the tuition fees of $1,500 and purchases of books and other course material of $400. The government pays the university an amount equal to four times the amount of tuition fees to cover the cost per student. If you do not go to university, you will earn $20,000 per year as an acrobat during the first four years with a salary increase of 5% from the fifth year on. With a university degree, however, you know that you can earn $30,000 per year as a circus manager for the first four years after graduation with an annual increase of 6% thereafter. Because of the nature of the chosen occupation, your time horizon for the investment decision is exactly 10 years after graduating from university : that is, if the investment decision is to be worthwhile it must be so within a 10 year period. The market rate of interest rate is 5%. Would you make the investment in the degree?

Use either the present value or internal rate of return approach for your calculation

(Please provide detail step by step explanation to get to the right answer in the form of word)

During a certain year, the rate of interest on a British deposit was 12 percent while the same on a U.S. deposit was 8 percent. This motivated a few big U.S. investors to invest in British deposits. However, after a year, the U.S. investors received lower rates of return on the British deposits compared to the U.S. deposits. Explain two possible reasons for this outcome

A project is expected to create operating cash flows of $37,600 a year for 3 years. The initial cost of the fixed assets is $98,000. These assets will be worthless at the end of the project. Also, $3,200 of net working capital will be required throughout the life of the project. What is the project's net present value if the required rate of return is 14 percent?

Jason wishes to be able to receive $50,000 a year upon retirement, and he expects to live for 25 years after retirement. if he can earn an average rate of return of 10% on his money after he retires,how much does he need to have accumulated at the time he retires? assume he will make his first withdrawal one year after he retires, and round your answer to the nearest dollar

The following information is available for United Corporation on December 31 for the year just ended.

1. A review of the $12,000 unadjusted balance in the prepaid rent account shows a remaining balance of $8,750 at the end of the year.
2. $2,200 of the television advertising paid for in advance has been used.
3. The yearly depreciation on the building is $150.
4. The yearly depreciation on the equipment is $800.
5. $1,200 of the advertising paid for in advance has been published by the newspaper.
6. Furniture purchased in a previous year for $17,750 will be sold after ten years for $750.
7. Accrued salaries of $29,000 were not recorded at year-end.
8. Of the $7,500 consulting fees United Corporation received in advance, $6,600 has not yet been earned.
9. Interest of $1,690 has accrued on a bank loan and is unrecorded.
10. $11,500 of advertising United Corporation placed in the local newspaper is unrecorded and unpaid.

Prepare the required adjusting entries at December 31, 2014.
Enter the transaction letter as the description when entering the transactions in the journal. Dates must be entered in the format dd/mmm (i.e., January 15 would be 15/Jan). For each journal entry, indicate how each account affects the balance sheet (Assets, Liabilities, Equity). Use + for increase and - for decrease. For example, if an account decreases equity, choose '-Equity'.

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: You and your family at organising Christmas lunch at your house this year. You have a large family and expect 20 people to attend. Four people who will attend have dietary requirements, of these two people are vegans, one is gluten free, and one is both gluten and dairy free. Your mum loves to cook, you love to decorate, your dad loves to clean, your brother and sister love planning the menu.

(1) Imagine that this is a project. Develop a RACI to document the key tasks that are required to be completed for the lunch, assigning roles and responsibilities. Imagine that your brother and sister argue about what should go on the menu. How could you use the RACI to resolve this conflict?

(2) Complete a stakeholder analysis. Who are stakeholders of the lunch? What is their role/interest? How will you manage stakeholder relationship to ensure that all salient stakeholders enjoy the lunch? Hint: watch the lecture for week 10 to ensure that you understand what a salient stakeholder is.

(3) Develop a communication plan for the project. Who do you need to communicate with about what? How will you do this, e.g., face to face meetings, emails, text, phone call, zoom, Facebook, etc.

The Wet Corp. has an investment project that will reduce expenses by $30,000 per year for 3 years. The project's cost is $35,000. If the asset is part of the 3-year MACRS category (33.33% first year depreciation) and the company's tax rate is 33%, what is the cash flow from the project in year 1? (Do not round intermediate calculations. Round your answer to the nearest dollar amount.) $23,950 $23,400 $24,730 $25,410