Sheffield Co. had sales revenue of $550,900 in 2020. Other items recorded during the year were:

Prepare a single-step income statement for Sheffield for 2020. Sheffield has 100,700 shares of stock outstanding. (Round earnings per share to 2 decimal places, e.g. 1.48.)

A company purchased a piece of equipment for $40,000 on January 1, 2018. At that time the company estimated the equipment would have a 6-year useful life and no salvage value. The company used straight-line depreciation based on this information used through 2019. On December 31, 2020, the company determined the equipment instead has a 9-year useful life, with no salvage value. The company's tax rate has been 20% since 2015. What is the necessary adjustment to beginning retained earnings in 2020 for this change?

A machine cost $1,128,000 on April 1, 2020. Its estimated salvage value is $136,000 and its expected life is 4 years.

Calculate the depreciation expense by straight-line for 2020. (Round answer to 0 decimal places, e.g. 5,275.)

Calculate the depreciation expense by double-declining balance for 2021. (Round answer to 0 decimal places, e.g. 5,275.)

Calculate the depreciation expense by sum-of-the-years'-digits for 2021. (Round answer to 0 decimal places, e.g. 5,275.)

Citibank issued bonds few years ago. Investor John sells $100 par of the bonds mid-accrual period settlement on 8/19/2020.  
Givens:

Coupon = 6%

Coupon Payment Frequency = Semi-annual

Interest Payment Dates are March 31 and Sept 30th

Maturity Date September 30th, 2023

Day Count Convention = 30/360

Yield-to-Maturity 4%

What are the Full (Dirty) proceeds of the sale of this bond closest to on August 19th, 2020?
(bond does not accrue interest on 8/19)

Please prepare the necessary journal entries for Lindsay Inc. in 2019 and 2020.

A4. The data below shows the weekly cases of Covid-19 for Ghana as at 19th June 2020 since the
first case was recorded on 2nd March 2020(Source: WHO).
2571 1473 1582 817 956 2439 1017 920 513 263 174 72 121 11
It is being argued on public airwaves that, the average weekly cases in Ghana is more than 500.
By testing the claim of what is being said on airwaves using the Sign Test, compute the
significance probability of the test correct to 4 decimal places.

On 12/31/20 Josh leased computer equipment from Ryan with a 4 year lease. Lease Payments of $10,000 are due on 12/31 and start on 12/31/2020. Josh used 3% interest rate to account for the lease. The useful life of the equipment is 8 years. Assume the fair value is $45,000. Both companies have a 12/31 year end.  THIS IN AN OPERATING LEASE.

1. Record the journal entries for Ryan for 2020 and 2021.

2. Show the lease on Ryan B/S AND I/S for 2021.

On January 1, 2020, the balance in Todd Co's "Prepaid Insurance" account was $3,600. At the December 31 year end, the balance was $1,200. In Todd's Cash Flow Statement for the year ended 12/31/2020, the net $2,400 net decrease will be
A Subtracted from Net Income in determining net cash provided by operating activities
B Reported as a cash inflow from financing activities
C Reported as a cash outflow from financing activities
D Added to Net Income in determining net cash provided by operating activities

Rose is a single mother (whose child lives with her all year round and is her dependent). She files her tax return as Head of Household. Her 2020 income from wages is $475,650. She has “net long-term capital gains” of $85,000. Total 2020 gross income is $560,650. Rose is under 65 years of age and does not itemize her deductions. What is Rose's total federal income tax? Show work.

A) $112,829

B) $123,344.

C) $138,644

D) $149,701