Questions
What happened to Lichter, Yu and Associates, Inc. in 2018 from SEC report?

What happened to Lichter, Yu and Associates, Inc. in 2018 from SEC report?

In: Accounting

Impact of the 2018 Tax Changes...and the resulting increases vs decreases to the corporation's value

Impact of the 2018 Tax Changes...and the resulting increases vs decreases to the corporation's value

In: Accounting

On January 1, 2018, Algerian Delivery had 100,000 shares of common stock outstanding. The following transactions...

On January 1, 2018, Algerian Delivery had 100,000 shares of common stock outstanding. The following transactions occurred during 2018:

March 1: Reacquired 3,500 shares, accounted for as treasury stock.
September 30: Sold all the treasury shares.
December 1: Sold 12,500 new shares for cash.
December 31: Reported a net income of $302,750.

What is Algerian Deliverys earnings per share for the year ending in December 31,2018

In: Accounting

How does gas mileage depend on the weight, size of the vehicle, engine size, and seating capacity of the vehicle?

 I will be comparing a 2018 Chevy Equinox vs. 2018 Ford Escape. My research question is as followed; "How does gas mileage depend on the weight, size of the vehicle, engine size, and seating capacity of the vehicle?" Submit a Research Proposal for instructor approval that includes your main variables, any control variables, how they are labeled, what your value ranges are, your specific data source, and your tentative research question.

In: Statistics and Probability

Roscoe Co. purchased equipment for $1,000,000 which was estimated to have a useful life of 15...

Roscoe Co. purchased equipment for $1,000,000 which was estimated to have a useful life of 15 years with a salvage value of $25,000 at the end of that time. Depreciation has been entered for 5 years on a straight-line basis. In 2018, it is determined that the total estimated life should be 10 years with no salvage value at the end of that time. Instructions

(a) Prepare the entry (if any) to correct the prior years’ depreciation.

(b) Prepare the entry to record depreciation for 2018.

In: Accounting

Machinery purchased for $69,600 by Sarasota Co. in 2013 was originally estimated to have a life...

Machinery purchased for $69,600 by Sarasota Co. in 2013 was originally estimated to have a life of 8 years with a salvage value of $4,640 at the end of that time. Depreciation has been entered for 5 years on this basis. In 2018, it is determined that the total estimated life should be 10 years with a salvage value of $5,220 at the end of that time. Assume straight-line depreciation.

Prepare the entry to correct the prior year's depreciation, if necessary.

Prepare the entry to record depreciation for 2018.

In: Accounting

Bramble Corp. purchased machinery on January 2, 2012, for $900000. The straight-line method is used and...

Bramble Corp. purchased machinery on January 2, 2012, for $900000. The straight-line method is used and useful life is estimated to be 10 years, with a $76000 salvage value. At the beginning of 2018 Bramble spent $191000 to overhaul the machinery. After the overhaul, Bramble estimated that the useful life would be extended 4 years (14 years total), and the salvage value would be $37000. The depreciation expense for 2018 should be:

$82400.
$57450.
$76400.
$69950

In: Accounting

On January 1, 2016, the Harold Company purchased equipment at a cost of $400,000. The equipment...

On January 1, 2016, the Harold Company purchased equipment at a cost of $400,000. The equipment was expected to have a service life of 10 years and a $20,000 residual value. The company’s fiscal year-end is December 31, and the double-declining balance (DDB) depreciation method is used. During 2018, the company switched from the DDB to the straight-line method. In 2018, the adjusting entry to depreciation expense is:

a. $22,500
b. $29,500
c. $31,625
d. $44,775

In: Accounting

“Marriott International announced in November 2018 that attackers had stolen data on approximately 500 million customers....

 

“Marriott International announced in November 2018 that attackers had stolen data

on approximately 500 million customers. The breach initially occurred on systems

supporting Starwood hotel brands starting in 2014. The attackers remained in the

system after Marriott acquired Starwood in 2016 and were not discovered

until September 2018.”(sourced from a published report)

Referring to the case given, list and explain 2 steps that can help prevent data breach like this.

In: Accounting

a. Compute Kunto’s gross income from the certificate for 2018. b. Compute Kunto’s gross income from the certificate for 2019.

On January 1, 2018, Kunto, a cash basis taxpayer, pays $46,228 for a 24-month certificate. The certificate is priced to yield 4% (the effective interest rate) with interest compounded annually. No interest is paid until maturity', when Kunto receives $50,000. In your computations:
a. Compute Kunto’s gross income from the certificate for 2018.
b. Compute Kunto’s gross income from the certificate for 2019.
Round any amounts to the nearest dollar.

In: Accounting