On January 1, 2018, Loop Raceway issued 550 bonds, each with a face value of $1,000, a stated interest rate of 5 percent paid annually on December 31, and a maturity date of December 31, 2020. On the issue date, the market interest rate was 6 percent, so the total proceeds from the bond issue were $535,288. Loop uses the straight-line bond amortization method and adjusts for any rounding errors when recording interest in the final year. Required:

1. Prepare a bond amortization schedule.

2-5. Prepare the journal entries to record the bond issue, the interest payments on December 31, 2018 and 2019, the interest and face value payment on December 31, 2020 and the bond retirement. Assume the bonds are retired on January 1, 2020, at a price of 98.

The following information is an extract from the financial statements of Extreme-Experiences Pty Ltd.

Required: Answer the following questions in the spaces provided below:

a)    Calculate the following ratios for both 2019 and 2020.

b)    Comment on the Liquidity of Extreme-Experiences using the answers in part a).

c) Which ratio measures Solvency? Provide suggestions on how to improve the Solvency of Extreme-Experiences.

On January 1, 2018, Loop Raceway issued 520 bonds, each with a face value of $1,000, a stated interest rate of 5 percent paid annually on December 31, and a maturity date of December 31, 2020. On the issue date, the market interest rate was 6 percent, so the total proceeds from the bond issue were $506,090. Loop uses the straight-line bond amortization method and adjusts for any rounding errors when recording interest in the final year.

Required:

1. 1. Prepare a bond amortization schedule.

2. 2-5. Prepare the journal entries to record the bond issue, the interest payments on December 31, 2018 and 2019, the interest and face value payment on December 31, 2020 and the bond retirement. Assume the bonds are retired on January 1, 2020, at a price of 98.

Assume that today is December 31, 2019, and that the following information applies to Abner Airlines:

After-tax operating income [EBIT(1 - T)] for 2020 is expected to be $500 million.
The depreciation expense for 2020 is expected to be $190 million.
The capital expenditures for 2020 are expected to be $225 million.
No change is expected in net operating working capital.
The free cash flow is expected to grow at a constant rate of 5% per year.
The required return on equity is 15%.
The WACC is 9%.
The firm has $202 million of non-operating assets.
The market value of the company's debt is $3.462 billion.
230 million shares of stock are outstanding.

Using the corporate valuation model approach, what should be the company's stock price today? Do not round intermediate calculations. Round your answer to the nearest cent.

$  

Accounting for Gift Cards

Assume Ikeo Inc. sold $160,000 of gift cards during the last two weeks of December 2020. No gift cards were redeemed in 2020, while $144,000 of the gift cards were redeemed for store purchases during 2021. On December 31, 2021, Ikeo Inc. calculates the remaining balance of unredeemed gift cards of $16,000 ($160,000 less $144,000). Based on previous experiences, Ikeo estimates gift card breakage to be 5% of total gift card sales. Ikeo uses the proportional method to recognize income on gift card breakage.

Required

a. Record the sale of gift cards in 2020.

b. Record the redemption of gift cards in 2021.

c. Record revenue in 2021 due to gift card breakage using the proportional method.

“US oil prices turned negative for the first time on record on Monday April 20th, 2020 after oil producers ran out of space to store the oversupply of crude left by the coronavirus crisis, triggering an historic market collapse which left oil traders reeling.” (The Guardian, April 20th, 2020) On April 21st, 2020 the US president Donald Trump tweeted: “We will never let the great U.S. Oil & Gas Industry down. I have instructed the Secretary of Energy and Secretary of the Treasury to formulate a plan, which will make funds available so that these very important companies and jobs will be secured long into the future!”

a. Plot the price of oil (crude or brent) for the past 12 months period and explain the decrease in the price by using demand and supply framework.

USE THE FOLLOWING INFORMATION FOR THE NEXT 3 QUESTIONS

                     Below is an income statement for XYZ Company for 2020:

           37. Calculate breakeven sales dollars for XYZ Company using the Y-formula.

                       A. $220,000

                       B. $320,000

                       C. $350,000

                       D. $270,000

38. The degree of leverage (DOL) for XYZ Company in 2020 is equal to what amount?

            A. 1.0

            B. 2.0

            C. 3.0

            D. 4.0

            E. 5.0

39. Using the degree of leverage (DOL) for 2020 that you just calculated in question #38, if XYZ Company expects sales to increase 10% in 2021, by how much will the net income increase in 2021?

1. $5,000
2. $10,000
3. $15,000
4. $20,000
5. $25,000

Using HTML/Javascript (if needed) I want to create a table for a website that pulls data from another website where the data is being updated on. Example: https://investors.coca-colacompany.com/stock-information/historical-data

I cannot just put in the numbers to a table as they will be getting updated daily. So it needs to link the the website elements.

Table from:

https://investors.coca-colacompany.com/stock-information/historical-data

1. Below, you will see a pricing curve for Oil Futures. Your client is an oil producer (they are extracting oil from the ground and selling it to refineries)    They wish to hedge their estimated production for March 2021, June 2021, and September 2021.

Oil Pricing Curve

June 2020 $52.35

Sept 2020 $51.00

Dec 2020    $50.05

Mar 2021 $48.10

June 2021 $47.15

Sept 2021    $44.25

1. Oil future prices are said to be in __________.
2. What hedge rates could your client lock into today for Mar21, Jun21, and Sep21?
3. On settlement date for each of the 3 hedges, assume the spot price of oil has dropped to $38.00 per barrel. Show the calculations (2 steps) of the settlement for each of the above three dates. ($38.00/barrel is the price for each of the three dates)

Huxley (60) and Elise (45) started the process on adopting Elwood (15) on May 1, 2020. On July 6, 2020, Huxley took a $5,000 distribution from his 401(k). On September 24, 2020, Elise took a $5,000 distribution from her IRA. What is the tax treatment of each distribution?

Huxley's distribution is taxable and not subject to the early distribution penalty. Elise's distribution is taxable and subject to the early distribution penalty.

Huxley's distribution is not taxable or subject to the early distribution penalty. Elise's distribution is taxable and subject to the early distribution penalty.

Huxley's distribution is taxable and not subject to the early distribution penalty. Elise's distribution is taxable and not subject to the early distribution penalty.

Huxley's distribution is taxable and subject to the early distribution penalty. Elise's distribution is taxable and not subject to the early distribution penalty.