On August 1, 2020, Groton Corporation borrowed $3 million and issued a nine-month note. Interest was discounted at issuance at a 4% discount rate. Prepare the journal entries to record the issuance of the noninterest-bearing note and all subsequent events related to the note through April 30, 2021. What would be the annual effective interest rate?

Required;

Pretend you are a Shark Tank advisor. Two business partners have come to you for advice for a business they own and operate. This assignment requires you to create a one-page executive summary (not including backup tables of your analysis) of your advice for this business.

Topic/Question - Read the following scenario then address the recommendation/advice section of this assignment.

Tired of hiring themselves out and abiding by corporate rules and various personality issues with management of fitness facilities, two fully certified personal trainers opened a fitness facility. Each trainer was certified in indoor cycle (aka Spinning), personal training, strength, high-intensity training, and TRX. The facility was housed in the finished basement of one owner’s personal residence. They invested $3000 that covers startup equipment costs. Startup equipment included spin bikes, fans, weights, step benches, and mats. Over time they upgraded the spin bikes and added more features such as resistance bands, ropes, TRX equipment, kettlebells and other items for approximately $1000. Based on periodic feedback from clientele, they added some yoga classes and another instructor to teach additional spin classes. The owners taught 90% of the classes themselves and did not take a salary from the business. The yoga classes fully funded the yoga instructor. The additional spin instructor cost approximately $150/month. Costs included $500 monthly for insurance, $200 monthly for utilities, $80 for music licensing. Clientele paid $10 per class unless they purchased a package of 20 classes for $85 or 10 classes for $65. They ran approximately 26 classes a week. Unless there were 2 clients in a class, the class was cancelled. The business averaged 4 clients per class and averaged cancelling 3 classes per week. They also had personal training clients who paid 20 per session. The business averaged 8 personal training sessions per week. Tax rate is 20%. Depreciation on the equipment is 20% a year. Efficiency of the business is compromised from time to time based on clientele – since this is a boutique business that runs classes of 5-6 individuals, personalities and drama sometimes require the business owner’s significant management time in the form of communications with clientele.

Between the two of them, they could earn $800/month by contracting themselves out to other facilities. Additionally, without the business, the trainers could conduct personal training sessions in the basement facility using the equipment they already have and would incur insurance costs of $60/month, no music licensing fees and $100 utilities.

Listed below is the population by state for the 15 states with the largest population. Also included is whether that state's border touches the Gulf of Mexico, the Atlantic Ocean, or the Pacific Ocean (coastline).

Suppose three states are selected at random. Calculate the probability for the following:

1. None of the states selected have a population of more than 9,000,000. (Round your answer to 3 decimal places.)

2. Exactly one of the selected states has a population of more than 9000000 (Round your answer to 3 decimal places.)

3. At least one of the selected states has a population of more than 9000000 (Round your answer to 3 decimal places.)

Forte Inc. produces and sells theater set designs and costumes. The company began operations on January 1, Year 1. The following transactions relate to securities acquired by Forte Inc., which has a fiscal year ending on December 31:

Record these transactions on page 10:

Record these transactions on page 11:

a shareholder derivative suit was filed in the Delaware Courts alleging that the Facebook Board of Directors violated their duties to their shareholders by pay- ing its nonexecutive directors 43% more than "peers," despite its net income and revenues being 66% and 49% lower, respectively, than its peers. The peers named in the suit included Adobe, Amazon, Cisco, eBay, EMC, LinkedIn, Netflix, Qualcomm, SAP AG, The Walt Disney Company, VMware, and Yahoo!, Inc. The suit noted that in 2013, the Facebook Board paid its nonexec- utive members an average $461,000 per director, 43%, or $140,000 higher than the average per director compen- sation in Facebook's Peer Group. It further noted that the Board is free to grant its board members an unlimited amount of stock as part of their annual compensation under a 2012 equity incentive plan, with the only limit a $2.5 million share limit per director in a single year (worth approximately $145 million at the time of filing). The Facebook Board at the time consisted of eight individuals, six of whom were "outside" (i.e., nonem- ployee) directors including Lead Independent Director Donald Graham, and Directors Peter Thiel, Marc Andreessen, Reed Hastings, Erskine Boles and Desmond-Hellman. Inside directors included founder and CEO/Chairman Mark Zuckerberg and COO Sheryl Sandberg. The lawsuit alleged that all of the Directors approved the compensation and all of the nonexecutive directors received the compensation. The lawsuit claimed breach of fiduciary duty, waste of corporate assets, and "unjust enrichment." The issue of director compensation accelerated in late 2014, when Jan Koum, cofounder and CEO, joined the board and received a salary of $1, but stock awards worth over $1.9 billion, representing a sign-on award of $25 million restricted stock units when Facebook acquired WhatsApp. However, Face- book CEO Mark Zuckerberg allegedly approved the stock grants in a written affidavit, rather than at a stock- holder meeting—and with 60% of the voting power, he had the ability to approve whatever he wanted. The question remains as to whether Mark Zuckerberg failed to comply with Delaware corporate law, where the com- pany is incorporated, in circumventing shareholders by signing off on directors' stock grants instead of present- ing it at a shareholders' meeting.

Question:

1. Institutional Shareholder Services, a proxy advisory firm, has noted that there is “too much work and too much time” required of directors; could this justify higher director pay?

Forte Inc. produces and sells theater set designs and costumes. The company began operations on January 1, Year 1. The following transactions relate to securities acquired by Forte Inc., which has a fiscal year ending on December 31:

Record these transactions on page 10:

Record these transactions on page 11:

Explore the solutions explored up to this point, and how in your opinion the exit of the United Kingdom out of the European Union would be best addressed

Research and describe 2 times when United Airlines implemented a strategy in the past and failed. What were the strategies and how did it fail?