A Corp. owns 80% of B Corp. The Consolidated Financial Statements of A Corp. for 2018 and 2019 are shown below:
A Corp.
Consolidated Balance Sheet, December 31, 2019
|
2019 |
2018 |
|
|
Cash |
$180,000 |
$40,000 |
|
Accounts Receivable |
$300,000 |
$100,000 |
|
Inventory |
$400,000 |
$100,000 |
|
Land |
$160,000 |
$200,000 |
|
Plant and Equipment |
$1,650,000 |
$1,170,000 |
|
Accumulated Depreciation |
($800,000) |
($770,000) |
|
Goodwill |
$60,000 |
$60,000 |
|
Total Assets |
$1,950,000 |
$900,000 |
|
Accounts Payable |
$326,000 |
$40,000 |
|
Accrued Liabilities |
$350,000 |
$140,000 |
|
Bonds Payable |
$400,000 |
$100,000 |
|
Less Bond Discount |
($40,000) |
($50,000) |
|
Non-Controlling Interest |
$214,000 |
$200,000 |
|
Common Shares |
$350,000 |
$350,000 |
|
Retained Earnings |
$350,000 |
$120,000 |
|
Total Liabilities and Equity |
$1,950,000 |
$900,000 |
A Corp.
Consolidated Income Statement, For the year ended December 31, 2019
|
Sales |
$500,000 |
|
|
Cost of aales |
$115,000 |
|
|
Depreciation |
$30,000 |
|
|
Interest expense |
$50,000 |
|
|
Gain on land sale |
($10,000) |
|
|
($185,000) |
||
|
Net income |
$315,000 |
|
|
Attributable to: |
||
|
Shareholders of Parent |
$300,000 |
|
|
Non-Controlling Interest |
$15,000 |
|
Other Information:
A purchased its interest in B on January 1, 2015 for $360,000 when the company's net assets were valued at $300,000. The acquisition differential was allocated equally between goodwill and equipment, which was estimated to have a remaining useful life of ten years from the acquisition date.
B reported a net income of $75,000 and paid dividends of $5,000 during 2019.
A issued $300,000 in bonds during the year. A reported an equity method net Income of $300,000 and paid $70,000 in dividends to its shareholders.
Required:
Prepare a Consolidated Statement of Cash Flows for A Corp. for 2019.
In: Accounting
1.What volume of 0.250 M AgNO3(aq) is required to react with 35.0 mL of 0.210 M CaBr2(aq) in the reaction below:
2 AgNO3(aq) + CaBr2 (aq) ® Ca(NO3)2(aq) + 2AgBr(s)
In: Chemistry
|
Employee Number |
Time 1 Satisfaction |
Time 2 Satisfaction |
|
10012 |
8.5 |
6.5 |
|
10057 |
6.8 |
4 |
|
10089 |
6.5 |
4 |
|
10126 |
4.2 |
5.7 |
|
10023 |
7 |
6 |
|
10045 |
6 |
3 |
|
10094 |
7 |
6.5 |
|
10087 |
3 |
3 |
|
10145 |
4.5 |
3.5 |
|
10023 |
9 |
8.5 |
|
10062 |
8.5 |
4 |
|
10078 |
4 |
2.5 |
In: Math
4. With Parmenides Western Philosophy takes a turn for the logical that is continued with Zeno. At the foundation of this view is the position that Being is motionless and changeless, explain the logic behind this and how Democritus was able to overcome the Parmenidean position.
In: Psychology
The Ramirez Company uses standard costing in its manufacturing plant for auto parts. The standard cost of a particular auto part, based on a denominator level of 4,200 output units per year, included 5 machine-hours of variable manufacturing overhead at $9 per hour and 5 machine-hours of fixed manufacturing overhead at $17 per hour. Actual output produced was 4,600 units. Variable manufacturing overhead incurred was $260,000. Fixed manufacturing overhead incurred was $375,000. Actual machine-hours were 27,500.
Requirements
|
1. |
Prepare an analysis of all variable manufacturing overhead and fixed manufacturing overhead variances, using the 4-variance analysis. |
|
2. |
Prepare journal entries using the 4-variance analysis. |
|
3. |
Describe how individual fixed manufacturing overhead items are controlled from day to day. |
|
4. |
Discuss possible causes of the fixed manufacturing overhead variances. |
Requirement 1. Prepare an analysis of all variable manufacturing overhead and fixed manufacturing overhead variances, using the 4-variance analysis. Begin by calculating the following amounts for the variable overhead.
|
Actual Input |
||||
|
Actual Costs |
x |
Flexible |
Allocated |
|
|
Incurred |
Budgeted Rate |
Budget |
Overhead |
|
|
Variable OH |
Now complete the table below for the fixed manufacturing overhead.
|
Same Budgeted |
||||
|
Lump Sum |
||||
|
Actual Costs |
Regardless of |
Flexible |
Allocated |
|
|
Incurred |
Output Level |
Budget |
Overhead |
|
|
Fixed OH |
Now complete the 4-variance analysis using the amounts you calculated above. (If no variance exists, leave the dollar value blank. Label the variance as favorable (F), unfavorable (U) or never a variance (N).)
|
4-Variance |
Spending |
Efficiency |
Production-Volume |
|||
|
Analysis |
Variance |
Variance |
Variance |
|||
|
Variable OH |
||||||
|
Fixed OH |
||||||
Requirement 2. Prepare journal entries using the 4-variance analysis. Record the actual variable
manufacturing overhead incurred. (Record debits first, then credits. Exclude explanations from any journal entries.)
In: Accounting
Explain turbidity,turbidity rod,turbimeters,jackson turbidimeter and baylis turbidimeters with example and explain in details.(50marks)
Need own answer and no internet answers r else i il downvote nd report to chegg.Even a single is wrong i il downvote.its 50marks question so no short answer minimum 10page answer required and own answer r else i il downvote.
Note:Minimum 10page answer and no plagarism r else i il downvote and report to chegg.Minimum 10 to 15page answer required r else dnt attempt.strictly no internet answer n no plagarism.
its 50marks question so i il stricly review nd report
Need own answer for 50marks.
In: Computer Science
1.) How do we know if a company’s strategy is working?
Your answers will be short essays and should be three full paragraphs or longer
In: Operations Management
According to Theodore Moran, when do the greatest spillovers on the local economy occur?
Select one:
a. When the state is responsible for regulating productive decisions
b. When there is an appropriate balance between multinational corporations and the state in productive decision-making
c. None of the choices given (above/below)
d. When the multinational corporation is free to make the productive decisions
e. When the UN is responsible for regulating productive decisions.
In: Economics
Select an organization that requires you to act as a change agent to form an organizational change intervention within it. The selection of the organization needs to be a current existing organization locally or internationally that needs organizational change for performance improvement, sustainability or increase its profitability. In the assignment clarify your role as a change agent towards making the organizational change. As a change agent you shall present to the stakeholders the below :
A client report that describes an organization that you will provide an organizational intervention.
Q.1 Evaluation of the organization readiness for the change by using ADKAR assessment tool.
In: Operations Management
A project provides annual cash flows of £800 per year for 8 years and costs £3000 today. Is this a good project if the required return is 8%?
At what discount rate would you be indifferent between accepting the project and rejecting it?
In: Finance
For a data set obtained from a sample of size n = 121
with x- = 44.25, it is known that σ = 5.4.
(a) What is the point estimate of
µ?
(b) Find z score corresponding to a 95%
confidence level, zα/2. Recall that
(1 − α)100% = 95%.
(c) Construct a 95% confidence interval for
µ.
(d) What is the margin of error in part
(c)?
In: Math
In: Operations Management
As the controller of a medium-sized financial services company, you take pride in the accounting and internal control systems you have developed for the company. You and your staff have kept up with changes in the accounting industry and been diligent in updating the systems to meet new accounting standards. Your outside auditor, which has been reviewing the company’s books for 15 years, routinely complimented you on your thorough procedures. The passage of the Sarbanes-Oxley Act, with its emphasis on testing internal control systems, initiated several changes. You have studied the law and made adjustments to ensure you comply with the regulations, even though it has created additional work. Your auditors, however, have chosen to interpret SOX very aggressively—too much so, in your opinion. The auditors have recommended that you make costly improvements to your systems and also enlarged the scope of the audit process, raising their fees. When you question the partner in charge, he explains that the complexity of the law means that it is open to interpretation and it is better to err on the side of caution than risk noncompliance. You are not pleased with this answer, as you believe that your company is in compliance with SOX, and consider changing auditors. Using a web search tool, locate articles about this topic and then write responses to the following questions. Be sure to support your arguments and cite your sources.
Ethical Dilemma: Should you change auditors because your current one is too stringent in applying the Sarbanes-Oxley Act? What other steps could you take to resolve this situation?
nb s john
In: Accounting
Salary comparison Look over police and corrections salaries and compare a couple and report your findings.
In: Psychology
Northwood Company manufactures basketballs. The company has a ball that sells for $25. At present, the ball is manufactured in a small plant that relies heavily on direct labor workers. Thus, variable expenses are high, totaling $15.00 per ball, of which 60% is direct labor cost. Last year, the company sold 56,000 of these balls, with the following results: Sales (56,000 balls) $ 1,400,000 Variable expenses 840,000 Contribution margin 560,000 Fixed expenses 373,000 Net operating income $ 187,000 Required: 1. Compute (a) last year's CM ratio and the break-even point in balls, and (b) the degree of operating leverage at last year’s sales level. 2. Due to an increase in labor rates, the company estimates that next year's variable expenses will increase by $3.00 per ball. If this change takes place and the selling price per ball remains constant at $25.00, what will be next year's CM ratio and the break-even point in balls? 3. Refer to the data in (2) above. If the expected change in variable expenses takes place, how many balls will have to be sold next year to earn the same net operating income, $187,000, as last year? 4. Refer again to the data in (2) above. The president feels that the company must raise the selling price of its basketballs. If Northwood Company wants to maintain the same CM ratio as last year (as computed in requirement 1a), what selling price per ball must it charge next year to cover the increased labor costs? 5. Refer to the original data. The company is discussing the construction of a new, automated manufacturing plant. The new plant would slash variable expenses per ball by 40.00%, but it would cause fixed expenses per year to double. If the new plant is built, what would be the company’s new CM ratio and new break-even point in balls? 6. Refer to the data in (5) above. a. If the new plant is built, how many balls will have to be sold next year to earn the same net operating income, $187,000, as last year? b. Assume the new plant is built and that next year the company manufactures and sells 56,000 balls (the same number as sold last year). Prepare a contribution format income statement and compute the degree of operating leverage.
In: Accounting