Mohammed supplies you the following information for the month of January 2020.

Required:

1. Prepare journal entries for the transactions.
2. You are advised to post all these journals into appropriate ledger accounts.
3. Check the accuracy of your postings preparing a Trial Balance as of January 31, 2020.
4. Compare the differences between a Trial Balance, Balance Sheet and Statement of Shareholders’ Equity.

Transactions during the month of January 2020.

Jan 1    Capital invested AED 40000 in cash in business

Jan 2    Salary payment per month (already paid) to Manager, AED 2200

Jan 2    Paid office rent AED 5000

Jan 4    Purchase of goods from D Ltd AED 8000

Jan 10 Rent received AED 22200 in cash

Jan 12 Good sold AED 4200

Jan 22 Paid Accounts Payable due AED 4800

Jan 24 Drawings for personal use, AED 2000

Jan 30 Miscellaneous expenses paid AED 1500

Bonita Corp. had 1,800 units of part M.O. on hand May 1, 2020, costing $27 each. Purchases of part M.O. during May were as follows. Units Units Cost May 9 2,300 $29 17 3,800 30 26 1,300 31 A physical count on May 31, 2020, shows 2,300 units of part M.O. on hand. Using the FIFO method, what is the cost of part M.O. inventory at May 31, 2020? Using the LIFO method, what is the inventory cost? Using the average-cost method, what is the inventory cost? (Round average cost per unit to 2 decimal places, e.g. 15.25 and final answers to 0 decimal places, e.g. 1,620.) FIFO LIFO Average Cost Inventory Cost $enter a dollar amount rounded to 0 decimal places $enter a dollar amount rounded to 0 decimal places $enter a dollar amount rounded to 0 decimal places.

In 2018, the Westgate Construction Company entered into a contract to construct a road for Santa Clara County for $10,000,000. The road was completed in 2020. Information related to the contract is as follows:

Westgate recognizes revenue over time according to percentage of completion.

4. Calculate the amount of revenue and gross profit (loss) to be recognized in each of the three years assuming the following costs incurred and costs to complete information. (Do not round intermediate calculations and round your final answers to the nearest whole dollar amount. Loss amounts should be indicated with a minus sign.)

In 2018, the Westgate Construction Company entered into a contract to construct a road for Santa Clara County for $10,000,000. The road was completed in 2020. Information related to the contract is as follows:

Westgate recognizes revenue over time according to percentage of completion.

5. Calculate the amount of revenue and gross profit (loss) to be recognized in each of the three years assuming the following costs incurred and costs to complete information. (Do not round intermediate calculations and round your final answers to the nearest whole dollar amount. Loss amounts should be indicated with a minus sign.)

On January 1, 2020, Tom Company is considering purchasing a 35 percent ownership interest in Jerry Company, a privately held enterprise, for $900,000. Jerry predicts its profit will be $250,000 in 2020, projects a 3% annual increase in profits (from one year to the next) in each of the next four years, and expects to pay a steady annual dividend of $20,000 for the foreseeable future. Jerry has on its books a patent that is undervalued by $120,000, and has an estimated remaining useful life of 6 years. All of Jerry’s other assets and liabilities have book values that approximate market values. Tom uses the equity method for its investment in Jerry.

Need a schedule in Excel for the years 2020 through 2024 to display the following:

1. Tom’s equity in Jerry earnings with rows showing these:
   1. Tom’s share of Jerry reported income
   2. Amortization expense
   3. Tom’s equity in Jerry earnings
2. Tom’s Investment in Jerry balance with rows showing the following:
   1. Beginning balance
   2. Equity earnings
   3. Dividends
   4. Ending balance

What are some factors that make some people healthy and others ill? Healthy People 2020 identifies five determinants of health that influence the health of individuals and populations. Healthy People 2020 describes them as "a range of personal, social, economic, and environmental factors that influence health status" (U.S. Department of Health and Human Services, 2014, About Determinants of Health, para. 1). Determinants fall into five categories including: (a) policy making, (b) social factors, (c) health services, (d) individual behavior, and (e) biology and genetics.

Go to the "Determinants of Health" link at http://www.healthypeople.gov/2020/about/foundation-health-measures/Determinants-of-Health (Links to an external site.)Links to an external site. and click on each determinant to read about them.

Choose one of the five determinants. In your post, describe this determinant and its importance.

Discuss how this determinant relates to one intervention from the Public Health Intervention Wheel (Nies & McEwen, 2015, pp. 14–15).

Required information
In 2018, the Westgate Construction Company entered into a contract to construct a road for Santa Clara County for $10,000,000. The road was completed in 2020. Information related to the contract is as follows:

Westgate recognizes revenue over time according to percentage of completion.

5. Calculate the amount of revenue and gross profit (loss) to be recognized in each of the three years assuming the following costs incurred and costs to complete information. (Do not round intermediate calculations and round your final answers to the nearest whole dollar amount. Loss amounts should be indicated with a minus sign.)

Required information
  
In 2018, the Westgate Construction Company entered into a contract to construct a road for Santa Clara County for $10,000,000. The road was completed in 2020. Information related to the contract is as follows:

Westgate recognizes revenue over time according to percentage of completion.

4. Calculate the amount of revenue and gross profit (loss) to be recognized in each of the three years assuming the following costs incurred and costs to complete information. (Do not round intermediate calculations and round your final answers to the nearest whole dollar amount. Loss amounts should be indicated with a minus sign.)

Determine the missing amounts in the 2020 pension worksheet, indicating whether the amounts are debits or credits. (Enter all amounts as positive.)

JLB Enterprises acquired 15% of REB Corporation on January 1, 2020, for $63,000 when the book value of REB’s net assets was $360,000. During 2020, REB reported net income of $90,000 and paid dividends of $30,000. On January 1, 2021, JLB purchased an additional 25% of REB for $240,000. Any excess of cost over book value was attributable to goodwill (No amortization). On that same date, JLB changed to the equity method. During 2021, REB reported net income of $120,000 and paid dividends of $45,000.  

a. What investment income did JLB record from REB in 2020?

b. What investment income did JLB record from REB in 2021?

c. What journal entry was made on Jan 1 2021 as switch equity method?

d. What was the balance in Equity Investment at December 31, 2021? (Hint: use the amount paid for 25% of REB from JLB to calculate the implied fair value of the original 15% of the investment)