Prepare journal entries for the following transactions: a. A machine that cost $10,000 with a residual value of $2,000 is fully depreciated and discarded. b. A machine purchased on January 1, 2020 for $20,000, with a useful life of 4 years, and a residual value of $4,000, is sold on April 1, 2020 for $8,000. Use the straight-line method. c. A machine that cost $15,000, has accumulated depreciation of $12,000 is sold for $5,000.

On June 1, 2020, Pitt Corp sold merchandise with a list price of P50,000 to Bull on account. Pitt allowed trade discounts of 30%, 20%, and 10%. Credit terms were 2/15, n/40 and the sale was made FOB destination. Bull paid P2,000 of delivery costs. On June 12, 2020, how much did Pitt receive from Bull as full payment?

Your company sells a product bundle that includes software and a 3 year service contract for $100,000, The company installed the software on July 1, 2020, and the client paid $50,000 cash. The balance is due on December 31, 2020. What if:

(a) the performance obligations are interdependent and cannot be separated out or sold separately.

(b) the performance obligations are not interdependent ( The service contract is sold separately for $25,000 and the software for $100,000.)

On January 1, 2020, Sheffield Company purchased 8% bonds having a maturity value of $240,000, for $260,219.71. The bonds provide the bondholders with a 6% yield. They are dated January 1, 2020, and mature January 1, 2025, with interest received on January 1 of each year. Sheffield Company uses the effective-interest method to allocate unamortized discount or premium. The bonds are classified in the held-to-maturity category.

Using Excel to Construct event dummy (or binary) variables to represent three international events :

(i) The Asian financial crisis – one from Aug 1997 to Jul 1998, zero otherwise.

(ii) The Global Financial Crisis (GFC) – one from Feb 2007 to Feb 2009, zero otherwise.

(iii) Covid-19– one from Jan 2020 to Mar 2020, zero otherwise.

Comfort Company manufactures pillows. The 2020 operating budget is based on production of 1,000 pillows with 0.50 machine-hour allowed per pillow. Budgeted variable overhead per hour was $10. Actual production for 2020 was 750 pillows using 400 machine-hours. Actual variable costs were $9 per machine-hour.

Required: Calculate the variable overhead spending and efficiency variances.

Choose an example of encryption software and start a thread in this forum. These two articles discuss a few: The Best Encryption Software of 2020 (Links to an external site.) and Best encryption software of 2020: Free, paid and business tools and services (Links to an external site.). Compare and contrast the encryption software discussed and include links to resources you found that helped you understand the software (and/or concept of encryption).

South Airlines purchased a 747 aircraft on January 1, 2019, at a cost of $35,000,000. The estimated useful life of the aircraft is 20 years, with an estimated salvage value of $5,000,000. Instructions

(a) Compute the depreciation for 2019 and 2020 using the straight-line method and the double-declining-balance method.

(b) under each method, what is the book value after two years on December 31, 2020?

A country's census lists the population of the country as 246 million in 1990, 268 million in 2000, and 286 million in 2010. Fit a second-degree polynomial passing through these three points. (Let the year 2000 be x = 0 and let p(x) represent the population in millions.) p(x) = million

Use this polynomial to predict the population in 2020 and in 2030.

2020 million

2030 million