On January 1, 2020, Flanagin Corporation issued $5,000,000 face value, 8%, 10-year-bonds at $4,376,892. The price resulted in a 10% effective-interest rate on the bonds. Flanagin uses the effective interest method to amortize bond premium or discount. The bonds pay annual interest on each January 1.

Prepare the journal entry to record the following transactions:

The issuance of bonds on January 1, 2020.

Accrual of interest and amortization of the discount on December 31, 2020. (1.5 marks)

The payment of interest on January 1, 2021. (1 mark)

Accrual of interest and amortization of the premium on December 31, 2021. (1.5 marks)

Show the non-current liabilities section on the statement of financial position for the bond liability at December 31, 2021. (1 mark)

Compute the total cost of borrowing over the life of the bond. (1 mark)

How much would be bond interest expense on December 31, 2021 if the straight line method of amortization were used? (1 mark)

On January 1, 2020, QuickPort Company acquired 90 percent of the outstanding voting stock of NetSpeed, Inc., for $1,152,000 in cash and stock options. At the acquisition date, NetSpeed had common stock of $1,210,000 and Retained Earnings of $60,500. The acquisition-date fair value of the 10 percent noncontrolling interest was $128,000. QuickPort attributed the $9,500 excess of NetSpeed's fair value over book value to a database with a five-year remaining life.

During the next two years, NetSpeed reported the following:

On July 1, 2020, QuickPort sold communication equipment to NetSpeed for $15,500. The equipment originally cost $18,200 and had accumulated depreciation of $4,200 and an estimated remaining life of three years at the date of the intra-entity transfer.

1. Compute the equity method balance in QuickPort's Investment in NetSpeed, Inc., account as of December 31, 2021.
2. Prepare the worksheet adjustments for the December 31, 2021, consolidation of QuickPort and NetSpeed.

Bonita Ltd. issues 8,100, $6 cumulative preferred shares at $62 each and 15,000 common shares at $30 each at the beginning of 2019. Each preferred share is convertible into two common shares. During the years 2020 and 2021, the following transactions affected Bonita's shareholders' equity accounts:

Journalize each of the transactions. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.)

Pargo Company is preparing its master budget for 2020. Relevant data pertaining to its sales, production, and direct materials budgets are as follows.

Prepare the sales, production, and direct materials budgets by quarters for 2020.

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).