On January 1, 2016, Gless Textiles issued $10 million of 7%, 20-year convertible bonds at 101. The bonds pay interest on June 30 and December 31. Each $1,000 bond is convertible into 40 shares of Gless’s no par common stock. Bonds that are similar in all respects, except that they are nonconvertible, currently are selling at 99 (that is, 99% of face amount). Century Services purchased 15% of the issue as an investment. Required: 1. Prepare the journal entries for the issuance of the bonds by Gless and the purchase of the bond investment by Century. (Enter your answers in whole dollars. If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) 2. Prepare the journal entries for the June 30, 2020, interest payment by both Gless and Century assuming both use the straight-line method. (Enter your answers in whole dollars. If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) 3. On July 1, 2021, when Gless’s common stock had a market price of $33 per share, Century converted the bonds it held. Prepare the journal entries by both Gless and Century for the conversion of the bonds (book value method). (Enter your answers in whole dollars. If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) HintsReferenceseBook & Resources Hint #1

#1: Oct. 18th ; Ordered the following inventory on account from Velocity Sporting Goods, using purchase order No. 328 (Doc. No 16).

Description and units:

Basketball pole pad: 120 Basketball bag: 80 Portable inflation pump: 30 Trainer's first aid kit: 75

Price: Basketball pole pad: $94 basketball bag: $26 portable inflaion pump: $30 trainer's first aid kit: $30

Vendor address: 1285 Colgrove Ave., Pierre, SD 57501 Freight carrier: Interstate Motor Freight Freight charges: collect ( i.e., paid by Warren Sports Supply) Allowances: None note: No receiving or recording occurs at this point for this transaction.

Question: What is the journal entry for this transaction? is there any adjusting entry needed for the future month end and year end? if yes, what is the adjusting journal entry should be?

#2: Oct 18th; Borrowed $60,000 from First American Bank and Trust by issuing a two-year note payable with a stated annual interest rate of 5%. Check no 545 for $60,000 was received from the bank and deposited. Reviewed the terms and conditions of the note and signed it (Ray Kramer) as the borrower.

Question: What is the journal entry for this transaction? is there any adjusting entry needed for the future month end and year end? if yes, what is the adjusting journal entry should be?

1) Rental Income (T776)

Dax Jones purchased a new property on May 1st 2019 with the intent to use it as a rental. The purchase price was $650,000. The land portion was valued at $50,000. He began advertising to find his first tenant right away. The following additional information was provided to you by Dax who has asked you to prepare his T776 form for 2019:

• The first tenant moved in on June 1st and is paying $800 per month to rent one room

• Two more tenants moved in on Sep 1 and Oct 1 and signed leases for $800 per month for

  one room each. There is one more vacant room which is still available.

• At the end of the year there was $800 in rent receivable still outstanding

• The mortgage payment on the new house was $1,200 per month

• Dax advertised online to find tenants and had spent $700 by the end of 2019

• Property taxes paid for the year totaled $2,400

• Mortgage interest paid for the year totaled $5,600

• Home insurance cost $500 for the year

• Snow removal/lawn mowing cost $600 for the year

• Tenants did not pay for utilities. The electricity bill was $150 per month.

  Required: Prepare a completed T776 form using the fillable pdf provided. (Reminder: Download the pdf form first and the open in Adobe Acrobat and fill in)

5. Interest, inflation, and purchasing power Suppose Neha is a cinephile and buys only movie tickets. Neha deposits $2,000 in a bank account that pays an annual nominal interest rate of 5%. Assume this interest rate is fixed—that is, it won't change over time. At the time of her deposit, a movie ticket is priced at $20.00. Initially, the purchasing power of Neha's $2,000 deposit is movie tickets. For each of the annual inflation rates given in the following table, first determine the new price of a movie ticket, assuming it rises at the rate of inflation. Then enter the corresponding purchasing power of Neha's deposit after one year in the first row of the table for each inflation rate. Finally, enter the value for the real interest rate at each of the given inflation rates. Hint: Round your answers in the first row down to the nearest movie ticket. For example, if you find that the deposit will cover 20.7 movie tickets, you would round the purchasing power down to 20 movie tickets under the assumption that Neha will not buy seven-tenths of a movie ticket. Annual Inflation Rate 0% 5% 8% Number of Tickets Neha Can Purchase after One Year Real Interest Rate % % % When the rate of inflation is less than the interest rate on Neha's deposit, the purchasing power of her deposit over the course of the year.

On January 1, 2016, Gless Textiles issued $20 million of 9%, 20-year convertible bonds at 101. The bonds pay interest on June 30 and December 31. Each $1,000 bond is convertible into 40 shares of Gless’s no par common stock. Bonds that are similar in all respects, except that they are nonconvertible, currently are selling at 99 (that is, 99% of face amount). Century Services purchased 10% of the issue as an investment. Required: 1. Prepare the journal entries for the issuance of the bonds by Gless and the purchase of the bond investment by Century. (Enter your answers in whole dollars. If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) 2. Prepare the journal entries for the June 30, 2020, interest payment by both Gless and Century assuming both use the straight-line method. (Enter your answers in whole dollars. If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) 3. On July 1, 2021, when Gless’s common stock had a market price of $33 per share, Century converted the bonds it held. Prepare the journal entries by both Gless and Century for the conversion of the bonds (book value method). (Enter your answers in whole dollars. If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) HintsReferenceseBook & Resources Hint #1

AM REALLY IN NEED OF THE NARRATIVE ANALYSIS PART

Question 1: Your first task is to determine whether your firm is in a competitive industry.

Based on the following demand function for the firm's product, what would you answer?

Q = 50,000 – 25*P

Q is the amount produced and P is the price.

.

Submit your Competitive Industry Report and Calculations to the dropbox below. Be sure to show your calculations in Excel and provide a narrative analysis in PowerPoint. Your narrative analysis should summarize the results of your analysis and make recommendations for the benefit of company.

Now that you have examined whether your firm is in a competitive industry, let's take a look at some questions related to price, cost, and profit analysis.

Question 2: At the profit-maximizing level, what is the relationship between marginal cost, marginal revenue, price, and average cost for firms in competitive and oligopolistic industries?

The CFO has provided the following information to you:

fixed costs for the MiniZ are $2.75 million

variable cost per unit is $200

She wants you to analyze the fixed and variable costs, optimal level of production, and profit for the MiniZ component.

Question 3: Find Q, P, average cost, and profit for the MiniZ at the profit-maximizing level. (Again, the demand function for the MiniZ is: Q = 50,000 – 25*P.)

Submit your Price, Cost, and Profit Analysis Report and Calculations to the dropbox below. Be sure to show your calculations in Excel and provide a narrative analysis in PowerPoint. Your narrative analysis should summarize the results of your analysis and make recommendations for the benefit of company

Question 1: Your first task is to determine whether your firm is in a competitive industry.

Based on the following demand function for the firm's product, what would you answer?

Q = 50,000 – 25*P

Q is the amount produced and P is the price.

.

Submit your Competitive Industry Report and Calculations to the dropbox below. Be sure to show your calculations in Excel and provide a narrative analysis in PowerPoint. Your narrative analysis should summarize the results of your analysis and make recommendations for the benefit of company.

Now that you have examined whether your firm is in a competitive industry, let's take a look at some questions related to price, cost, and profit analysis.

Question 2: At the profit-maximizing level, what is the relationship between marginal cost, marginal revenue, price, and average cost for firms in competitive and oligopolistic industries?

The CFO has provided the following information to you:

fixed costs for the MiniZ are $2.75 million

variable cost per unit is $200

She wants you to analyze the fixed and variable costs, optimal level of production, and profit for the MiniZ component.

Question 3: Find Q, P, average cost, and profit for the MiniZ at the profit-maximizing level. (Again, the demand function for the MiniZ is: Q = 50,000 – 25*P.)

Submit your Price, Cost, and Profit Analysis Report and Calculations to the dropbox below. Be sure to show your calculations in Excel and provide a narrative analysis in PowerPoint. Your narrative analysis should summarize the results of your analysis and make recommendations for the benefit of company

Here's the situation:
Charlize Theron conquered the peaceful land of Rombus as the people in this land actually agreed with the Mirror that Kristen Stewart is prettier than Charlize. You are now the economic advisor for Charlize the Supreme Overlord of Rombus. All people of Rombus really really love eating chicken nuggets and the demand of chicken nuggets is highly inelastic. The supply of chicken nuggets is fairly elastic. Charlize hates chicken nuggets as they generally look like Kristen. The general public is angry about being conquered and Charlize wants to institute a policy to stop chicken nugget sales without angering the people. Charlize wants to implement either one of two grand ideas. Her first idea is to place a large tax on the sales of chicken nuggets to provide a disincentive for producers to sell chicken nuggets. Her second idea is to place a very low price ceiling on chicken nuggets. This price ceiling would force chicken nugget prices to be far lower than the current market clearing price for chicken nuggets. She believes implementing either policy will force chicken nugget producers out of industry and shift public anger regarding the reduction of chicken nuggets onto the producers and not her.

Please help me answer these questions!!:

(1) What is the initial incidence of the tax?

(2) Burden of the tax?

(3) The effect of a price ceiling on the market of chicken nuggets? and,

(4) whether there will be a shortage or surplus?

(5) The welfare impact of implementing these policies?

I APPRECIATE IF ANYONE CAN HELP ME!!

Your boss has decided to assign you the task of analyzing two financing alternatives for a self-storage facility that is a potential investment for the company’s portfolio. Although your company usually develops and operates its own self-storage facilities, a competitor has decided to exit the industry and is selling their portfolio. Here is information on the self-storage facility. The net operating income (NOI) is expected to be $200,000 per year the first year and will increase at a 3.5 percent rate per year. You can purchase the investment for $1,500,000. This price includes the value of the land and the building. An appraiser estimates that 80.0 percent of the purchase price be allocated to building and 20.0 percent to land. The building is in the 39-year depreciation class and will be depreciated straight-line to a zero salvage value. The property under consideration is expected to increase at a 4.0 percent annual rate over the four-year holding period. Because of recent tax law changes, your company is in the 21 percent tax bracket. The lender has offered the following financing alternatives:

1. A 10.0 percent conventional, fixed rate, constant payment loan for $1,125,000 (75.0 percent of purchase price) with a 10-year term.

2. A sale-leaseback of the land to a third-party that specializes in land leases. The land is still valued at 20.0 percent of the purchase price and a conventional loan with the exact same terms as above. This means that the loan amount is now $900,000 = ($1,500,000 - $1,500,000*0.2)*0.75, instead of $1,125,000. The annual lease payments over the next four years will be $22,000.

1)Consider the following demand equation: Qd = 82 - 2P Using the point elasticity formula, find the price elasticity of demand at a price of P = 17. Your answer will likely be a decimal. Round it to the nearest 2 places. The price elasticity of demand is _____________ 2)The price of a case of macaroni from Costco is $10. At an old income of $200,000, Jaime’s yearly demand for macaroni was Qd = 45 – 2P At a new income of $150,000, Jaime’s yearly demand for macaroni is Qd = 50 – 2P Jaime’s income elasticity of demand for macaroni is __________. (Your answer may be a decimal. If so, round to the nearest tenth) 3)Lemmy is eating chocolate bars. The first bar gives him a marginal utility of 28 utils. The second bar gives him a marginal utility of 16 utils. His total utility after eating 3 bars was 49 utils. The marginal utility of the third chocolate bar was __________ utils. 4)See the cost table below. All missing blanks will be whole numbers. What number goes in the orange area 5)See the table below. Some of the MPL values are missing, and you'll have to fill in the MC column. Fill in the MC column when the wage is $30. L TP (Q) MPL MC 0 0 -- -- 1 5 5 2 15 10 3 30 15 4 40 5 45 6 49 7 51 What is the last number in the MC column?