At December 31, 2019, certain accounts included in the property, plant, and equipment section of Marigold Corporation’s statement of financial position had the following balances:

During 2020, the following transactions occurred:

(a)

Calculate the balance at December 31, 2020 in each of the following accounts: Land, Leasehold Improvements, Buildings—Structure, Buildings—Roof, and Equipment. Ignore the related Accumulated Depreciation accounts.

The Thompson Corporation, a manufacturer of steel products, began operations on October 1, 2019. The accounting department of Thompson has started the fixed-asset and depreciation schedule presented below. You have been asked to assist in completing this schedule. In addition to ascertaining that the data already on the schedule are correct, you have obtained the following information from the company's records and personnel: (FV of $1, PV of $1, FVA of $1, PVA of $1, FVAD of $1 and PVAD of $1) (Use appropriate factor(s) from the tables provided.)

1. Depreciation is computed from the first of the month of acquisition to the first of the month of disposition.
2. Land A and Building A were acquired from a predecessor corporation. Thompson paid $772,500 for the land and building together. At the time of acquisition, the land had a fair value of $103,200 and the building had a fair value of $756,800.
3. Land B was acquired on October 2, 2019, in exchange for 2,600 newly issued shares of Thompson’s common stock. At the date of acquisition, the stock had a par value of $5 per share and a fair value of $21 per share. During October 2019, Thompson paid $10,000 to demolish an existing building on this land so it could construct a new building.
4. Construction of Building B on the newly acquired land began on October 1, 2020. By September 30, 2021, Thompson had paid $170,000 of the estimated total construction costs of $260,000. Estimated completion and occupancy are July 2022.
5. Certain equipment was donated to the corporation by the city. An independent appraisal of the equipment when donated placed the fair value at $14,400 and the residual value at $1,600.
6. Equipment A’s total cost of $102,000 includes installation charges of $510 and normal repairs and maintenance of $10,600. Residual value is estimated at $5,000. Equipment A was sold on February 1, 2021.
7. On October 1, 2020, Equipment B was acquired with a down payment of $3,600 and the remaining payments to be made in 10 annual installments of $3,600 each beginning October 1, 2021. The prevailing interest rate was 7%.

Required:
Supply the correct amount for each answer box on the schedule. (Round your intermediate calculations and final answers to the nearest whole dollar.)

3. A firm announced that it will pay a $0.10 dividend per share to holders of record as of Wednesday, July 29, 2020. Holding all else constant, the stock price will be lower by $0.10 per share at the opening of trading on

1. A) Monday, July 27, 2020

2. B) Tuesday, July 28, 2020.

3. C) Wednesday, July 29, 2020.

4. D) Thursday, July 20, 2020

5. E) The stock price will not be lower on any of the above days.

.

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4. XYZ Inc. plans to sell an asset for $21,000. The asset was acquired 5 years ago for $50,000 and was depreciated using the straight-line method with an expected life of 5 years. If XYZ’s tax rate is 21%, then the taxes owed on the sale will be:
:

A B C D E

5.

A B C D E

$2,000
$3,00
$4,100
$4,410
None of the above

1. John and Mary had been married for 15 years before John died in a car accident on December 31, 2019. Mary and her son, Daze, age 27 in 2018, continued to live at home in 2019, 2020, 2021, and 2022. Daze worked part-time (earning $3,500 in each of the four years) and attended the university on a part-time basis. Mary provided more than 50% of Daze’s support for all four years. What is Mary’s filing status for 2019, 2020, 2021, and 2022?

2. Assuming the same situation as above except that Daze earned $4,500 in each of the four years, what is Mary’s filing status for 2019, 2020, 2021, and 2022?

Splish Brothers Industries has the following patents on its December 31, 2019, balance sheet.

The following events occurred during the year ended December 31, 2020.

The proper discount rate to be used for these flows is 8%. (Assume that the cash flows occur at the end of the year.)

Click here to view factor tables

(a)

Compute the total carrying amount of Splish Brothers’ patents on its December 31, 2019, balance sheet.

B) Compute the total carrying amount of Marin' patents on its December 31, 2020, balance sheet.

Total carrying amount $

Matt and Meg Comer are married and file a joint tax return. They do not have any children. Matt works as a history professor at a local university and earns a salary of $68,300. Meg works part time at the same university. She earns $33,300 a year. The couple does not itemize deductions. Other than salary, the Comers’ only other source of income is from the disposition of various capital assets (mostly stocks). (Use the tax rate schedules,Dividends and Capital Gains Tax Rates.) (Round your final answers to the nearest whole dollar amount.)

b. What is the Comers’ tax liability for 2020 if they report the following capital gains and losses for the year?

Total tax liability: ???

I found $9,301, but that is not the correct answer apparently.

Case study: The recent outbreak of novel coronavirus (COVID-19) has introduced new challenges to the business environment. It is also having an impact on the global economy with tourism, aviation, education, and hospitality the initially hardest-hit industries. Almost all global supply-chains are affected at some level. Realistically, many sectors will be affected to different degrees, with many organizations implementing policies to limit employee travel and to prepare employees to work from home if necessary and if possible, to ensure the safety of their employees. The outbreak is moving quickly, and most countries are trying to respond quickly to contain the impact. However, the spread of the virus may continue through 2020 and impact the operations of many industries for months to come.

taking any university as an example

Q. Critically analyze the required types of change to minimize the impact of the COVID 19 virus on the university. Then analyze which images of change management could be adopted by the change agent to manage such a situation. (maximum 800 words )

One study reports that 34​% of newly hired MBAs are confronted with unethical business practices during their first year of employment. One business school dean wondered if her MBA graduates had similar experiences. She surveyed recent graduates from her​ school's MBA program to find that 31​% of the 129 graduates from the previous year claim to have encountered unethical business practices in the workplace. Can she conclude that her​ graduates' experiences are​ different?

What is the value of the test​ statistic?

A. The assumptions and conditions are not​ met, so the test cannot proceed.

B.The test statistic is? ​(Round to two decimal places as​ needed.)

What is P-value of the test statistic?

A. P-value? (Round to three decimal places as​ needed.)

B. The assumptions and conditions are not​ met, so the test cannot proceed.

Based on information given in the attached Excel document, 1. Prepare journal entries and adjusting entries for September 2019 for your company. 2. Set up T-accounts and post your journal entries and adjusting entries to T-accounts. 3. Prepare your company’s pre-closing trial balance, as of September 30, 2019. 4. Prepare an income statement, in a good format, for the month of September 2019 for your company. 5. Prepare a statement of retained earnings, in a good format, for the same period. 6. Prepare a balance sheet, in a good format, as of September 30, 2019 for your company. 7. Prepare closing entries and a post-closing trial balance, as of September 30, 2019.

Description of the Business Activity:

1. You, the owner(s), contributed $1,000 cash to the business on September 1. 2. On September 1, your company borrowed $21,000 from a local bank, on a 10% note for 5 years. The interest would be paid semi-annually on each March 1 and September 1. 3. On September 1, your company paid $900 fees to local government agencies for business licenses and permits, for a period of one year. 4. On September 1, your company acquired a mobil cart, a business sign, and some other equipment for a total of $4,200 (all paid in cash). You estimated that the lifetime of these PP&E was 2 years with a residual value of $200. 5. On September 1, your company also paid $1,500 for its annual insurance, starting September 1. 6. During September, your company acquired merchandise, totaled $35,000. At the time of purchases, 70% of the merchandise was acquired on account. Your company promised to pay the remaining balances in 20 days. 7. For merchandise purchases in Transaction 6, toward the end of September, your company also paid in cash, an additional 20% of the total merchandise prices to its suppliers. 8. During September, your company delivered merchandise and earned $50,000 sales revenue, of which 30% was on credit. Cost, to your company, of the merchandise sold, was $27,000. 9. On September 26, your company also signed a sales contract with a customer, Mini-Soda Company to deliver a total of $5,000 merchandise on October 7, 2019. Your company collected $2,000 cash in advance from this customer on September 26. 10. By the end of September, your company collected 50% of its accounts receivables from various customers from the abovementioned Transaction 8. 11. By the end of September, your company incurred and paid a total of $8,000 in cash for its other selling expenses (including advertising, marketing, payroll, cart transportation, trailer rental, etc.).

Additional Information:

12. Your company incurred monthly interest expense on its debt borrowing as described in Transaction 2. 13. At the end of September, your prepayment, from Transaction 3, on business licenses and permits expired for the month. 14. As described in Transaction 4, your company's PP&E had an estimated life of 2 years with a $200 residual value. Your company used the straight-line depreciation method. 15. At the end of September, your prepayment, from Transaction 5, on insurance expired for the month. 16. At the end of September, your company estimated 10% of its outstanding accounts receivables as possible uncollectible. 17. The income tax rate was 20% for your company, which would be paid in March 2020.