On September 1, 2020, Kingbird Company sold at 104 (plus accrued interest) 5,400 of its 9%, 10-year, $1,000 face value, nonconvertible bonds with detachable stock warrants. Each bond carried two detachable warrants. Each warrant was for one share of common stock at a specified option price of $15 per share. Shortly after issuance, the warrants were quoted on the market for $3 each. No fair value can be determined for the Kingbird Company bonds. Interest is payable on December 1 and June 1.

Prepare in general journal format the entry to record the issuance of the bonds. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.)

The Government of Ghana, through the Ministry of Trade and
Industries (MOTI) has called for Business Plans from all ‘Year 2020’
Ghanaian graduates of tertiary institutions across the country to access a
seed money for setting businesses through Stimulus Package known as
the COVID FUND. It is important to note that the Fund Managers require
applicants to show proof of how feasible their plans would be. This
implies that you are expected to explicitly show how and when the venture would pay back the investment, at what point would the venture break even as well as the opportunity cost of you venture (e.g., Time Value of Money(TVM) like NPV, BCR and IRR). Fortunately for you, after a semester's course in Entrepreneurship, you have learnt about how to write a pitching business plan. How would you go about this onerous task?

The Government of Ghana, through the Ministry of Trade and Industries (MOTI) has called for Business Plans from all ‘Year 2020’ Ghanaian graduates of tertiary institutions across the country to access a seed money for setting businesses through Stimulus Package known as the COVID FUND. It is important to note that the Fund Managers require applicants to show proof of how feasible their plans would be. This implies that you are expected to explicitly show how and when the venture would pay back the investment, at what point would the venture break-even as well as the opportunity cost of your venture (e.g., Time Value of Money (TVM) like
NPV, BCR & IRR). Fortunately for you, after a semester’s course in Entrepreneurship, you have learnt about how to write a pitching business plan. How would you go about this onerous task?

management studies

On January 1, 2019, Smith Inc. granted 6,500 Stock Appreciation Rights (SAR) to its executives, exercisable 2 years after grant date (unless employment is terminated) and prior to 8 years from grant date. The executives are to receive cash at exercise date for the excess of the market price over the pre-established base price of $25. The year-end fair values of each SAR were $3, 5.50, and $4.80 in 2019, 2020 and 2021 respectively. The executives exercise their SARs on 8/7/22 when the market price was $32 per share.

(i)    Prepare a properly labeled schedule to determine the amount of compensation expense for each of the four years.

(ii)   Prepare the journal entries at 12/31/19, 12/31/20, 12/31/21, and 8/7/22.

On November 1, 2020, Carla Company adopted a stock-option plan that granted options to key executives to purchase 33,900 shares of the company’s $9 par value common stock. The options were granted on January 2, 2021, and were exercisable 2 years after the date of grant if the grantee was still an employee of the company. The options expired 6 years from date of grant. The option price was set at $30, and the fair value option-pricing model determines the total compensation expense to be $508,500.

All of the options were exercised during the year 2023: 22,600 on January 3 when the market price was $65, and 11,300 on May 1 when the market price was $74 a share.

Prepare journal entries relating to the stock option plan for the years 2021, 2022, and 2023. Assume that the employee performs services equally in 2022 and 2023.

The Government of Ghana, through the Ministry of Trade and
Industries (MOTI) has called for Business Plans from all ‘Year 2020’
Ghanaian graduates of tertiary institutions across the country to access a
seed money for setting businesses through Stimulus Package known as
the COVID FUND. It is important to note that the Fund Managers require
applicants to show proof of how feasible their plans would be. This
implies that you are expected to explicitly show how and when the venture would pay back the investment, at what point would the venture break even as well as the opportunity cost of you venture (e.g., Time Value of Money(TVM) like NPV, BCR and IRR). Fortunately for you, after a semester's course in Entrepreneurship, you have learnt about how to write a pitching business plan. How would you go about this onerous task?

Skysong Inc. manufactures cycling equipment. Recently, the company’s vice-president of operations has requested construction of a new plant to meet the increasing demand for the company’s bikes. After a careful evaluation of the request, the board of directors has decided to raise funds for the new plant by issuing $2,250,000 of 9% term corporate bonds on March 1, 2020, due on March 1, 2034, with interest payable each March 1 and September 1. At the time of issuance, the market interest rate for similar financial instruments is 8%. As Skysong's controller, determine the selling price of the bonds. (Round present value factor calculations to 5 decimal places, e.g. 1.25124 and final answer to 0 decimal places, e.g. 5,275.)

Selling price of the bonds?

What is the basis of measurement for the bonds?

Is there any measurement uncertainty that requires disclosure in Skysong's financial statement notes?

Question 4 Butler and John operate a music store as a partnership. The partnership agreement states that profits and losses are to be shared equally after adjusting for interest on capital, superannuation, drawings and salaries paid to the partners Income ($) Sales $896,900 Interest from Advance to John 2,000 Expenses ($) Cost of goods sold 416,000 Salary-Butler 63,000 Salary-employees 110,000 Superannuation to Butler 14,000 Superannuation to employees 13,000 Interest on capital to Butler 7,000 Interest on Capital to John 9,500 Interest on loan from CBA 19,000 Drawings to Butler 32,000 Drawings to John 17,000 Other deductible operating expenses 105,000 Additional information: Trading stock balances were estimated as follows: 30 June 2019 86,000 30 June 2020 94,000 Required: Calculate the net income of the partnership. Show the allocation of net income to each of the partners..

B1 - Snow Company started operations on February 1, 2020 by depositing $3,000,000 cash in the bank as capital. The following transactions took place during the first month of operations:

February 3: Purchased supplies for $22,500 in cash.

February 9: Purchased equipment for $255,000, paid $105,000 in cash and the remaining amount will be paid after 10 days.

February 12: Received a bill from Dubai News for advertising amounted to $1,650.

February 14: Paid $24,000 salaries in cash.

February 16: Paid $6,000 utilities expense in cash.

February 17: Provided services to customers for $195,000 in cash.

February 19: Paid $150,000 for equipment purchased on February 9.

February 28: The owner withdrew $7,500 cash for personal use.

Required:

1. Prepare journal entries to record the above transactions.
2. Post to the appropriate ledger accounts.

Peter Russell proposes to sell his business to Tim Jones for $800,000. The business assets to be acquired include:

• trading stock $70,000
• debtors $40,000
• plant and equipment $150,000, and
• premises $400,000.

The balance, $140,000, represents goodwill.

It is proposed that the transfer of ownership will occur on 15 June 2020.

After the sale Peter Russell intends to retire.

Tim Jones is married with two teenage children, aged 14 and 17. Jones’ wife will work part-time in the business. Jones has $600,000 in cash and a house valued at $200,000, on which there is a $100,000 mortgage.

Required:        Advise Peter Russel as to the tax planning considerations involved in the disposal of the business. Please consider three or four issues, including any small business relief effective from 21 September 1999.

Please support your answer with any relevant case law or legislation.