On January 1, 2020, ABC Corporation had 990,000 shares of common stock outstanding. On March 1, the corporation issued 150,000 new shares to raise additional capital. On May 1, the company issued a 5% stock dividend. On July 1, the corporation declared and issued a 3-for-1 stock split. On October 1, the corporation repurchased on the market 400,000 of its own outstanding shares and retired them. Instructions Compute the weighted average number of shares to be used in computing earnings per share for 2020

A 9.81% semiannual-pay corporate bond matures 15 August 2028 and makes coupon payments on 15 February and 15 August. The bond uses the 30/360 day-count convention for accrued interest. The bond is priced for sale on June 5, 2020 (that is, 110 days since the Feb. 15 coupon). What is its flat price (or clean price) per $ 100 of par value on June 5, 2020 if its yield to maturity is 5.7%? Carry intermediate calcs. to four decimals. Answer to two decimals.

A company makes the following journal entry for 2020:

Dr. Income Tax Expense                    xxxx

Dr. Deferred Tax Asset                      77,000

            Cr. Deferred Tax Liability                     27,000

            Cr. Income Tax Payable                                 275,000

On the income statement, the deferred portion of income tax expense for 2020 appears as: _______________. Very important: If the amount of the deferred portion is subtracted from the current portion to obtain income tax expense, put a minus sign in front of the amount; if the amount of the deferred portion is added to the current portion, then leave the amount as is.

1. ABC Corporation owned a business warehouse that was destroyed by fire on October 1, 2020. On December 1, 2020 the corporation received an insurance payment of $900,000 for the loss. The corporation’s basis in the warehouse just prior to the loss was $500,000. The corporation would like to use the involuntary conversion rules to defer as much gain as possible. Assume the corporation built a new warehouse on the old site within the required timeframe and incurred construction costs of $950,000.  

1. How much gain would be taxable?

1. What would be the corporation’s basis in the new building?

Compute the amount that a $20,000 investment today would

accumulate to at the end of 10 years, 8% interest compounded quarterly.

$ __________

   Part (b) Fran wants to retire at the end of this year (2020). Her

life expectancy is 35 years from her retirement. She has

come to you, her CPA, to learn how much she should deposit

on December 31, 2020 to be able to withdraw $100,000 at the

end of each year for the next 35 years, assuming the amount

on deposit will earn 8% interest annually.

$ __________

in 2018 the westgate construction company entered into a contract to construct a road for Santa Clara County for 10,000,000 The road was completed in 2020. Calculate the amount of revenue and gross profit to be recognized in each of the 3 years assuming the following costs to incur and costs to complete information. ( Do not round intermediate calculations and round your final answers to the nearest whole dollar amount.

   2018    2019 2020

Cost incurred during the year $2,016,000 3,890,000    3,290,000

Estimated cost to complete as of year end $5,184,000    3,190,000   

A company purchased a piece of manufacturing equipment for $30,000 on January 1, 2018. At that time, the company estimated the equipment would have a 7-year useful life and no salvage value. The company used straight-line depreciation based on this information through 2019. On December 31, 2020, the company determined the equipment instead has a 10-year useful life, with no salvage value. The company’s tax rate has been 30% since 2015.

What is the necessary adjustment to beginning retained earnings in 2020 for this change?

On November 1, 2020, Victorious, Inc. lends $40,000 to one of its executives in exchange for a 6%, 8-month note receivable. Victorious properly accrued interest on the note at its year-end, December 31, 2020. the journal entries to record the collection of the note principle and interest on the July 1, 2021 maturity date will include a:

Multiple Choice

• credit to Interest Revenue of $1,800

• debit to Note Receivable for $40,000

• credit to Interest Revenue of $1,600

• debit to Cash of $1,200

• credit to Interest Receivable for $400

If I want to show an exception in JAVA GUI that checks if the date format is correct or the date doesn't exist, and if no input is put in how do I do that. For example if the date format should be 01-11-2020, and user inputs 11/01/2020 inside the jTextField it will show an error exception message that format is wrong, and if the user inputs an invalid date, it will print that the date is invlaid, and if the user puts no value inside the text box, it willl print an exception message that there needs to be a value.

Please help.

If I want to show an exception in JAVA GUI that checks if the date format is correct or the date doesn't exist, and if no input is put in how do I do that. For example if the date format should be 01-11-2020, and user inputs 11/01/2020 inside the jTextField it will show an error exception message that format is wrong, and if the user inputs an invalid date, it will print that the date is invlaid, and if the user puts no value inside the text box, it willl print an exception message that there needs to be a value. Please help.