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What are the two elements that an employee must show to make a successful Title VII claim? Do you think the motivating factor standard is appropriate for discrimination claims based on national... At the beginning of November, Yoshi Inc.s inventory consists of 60 units with a cost per unit of $94. The following transactions occur during the month of November. November 2 Purchase 90 units of... The bank statement for Corsens Fashion Inc. had an ending cash balance of $3,000 on July 31, 2019. On this date, the companys cash balance in the general ledger was $4,000. After comparing the bank... As the bookkeeper of Panji?s Plowing, you have been asked to complete the entire accounting cycle for Panji from the following information. Adjustment Data 1. Snow supplies on hand, $300. 2. Rent... The following audit procedures are included in the audit program for the audit of the financial statements of Golden State Overnight Express: 1. Select a sample of acquisitions from the acquisitions... J&G Bank receives an average of 30,000 credit card applications each month. Approximately 60% of them are approved. Each customer charges an average of $2,000 to his or her credit card each month.... If a producer creates a really revolutionary new product and consumers can learn about it and purchase it at a website, is any additional marketing effort really necessary? Explain your thinking. Consider the dividends and profits time series given in the U.S. economic time series data posted on the books website. Since dividends depend on profits, consider the following simple model:... What insights from the discussion of the Morgan Stanley 2003 report on eBay apply to the 2013 report on Aetna by Jefferies? What insights from the discussion of the Morgan Stanley 2003 report on eBay... Steiner Colleges statement of financial position for the year ended June 30, 2019, is presented here. Steiner is a private college. STEINER COLLEGE Statement of Financial Position June 30, 2019... The Department of Defense is considering three sites in the National Wildlife Preserve for extraction of rare metals. The cash flows associated with each site are summarized. The extraction period is... Steve Drake sells a rental house on January 1, 2018, and receives $120,000 cash and a note for $45,000 at 10 percent interest. The purchaser also assumes the mortgage on the property of $35,000.... The trial balances for Walla Corporation and Au Inc. at December 31, Year 4, just before the transaction described below, were as follows: On December 31, Year 4, Walla purchased all of the... Sport Pro Magazine sold 12,000 annual subscriptions on August 1, 2020, for $18 each. Prepare Sport Pros August 1, 2020, journal entry and the December 31, 2020, annual adjusting entry, assuming the... Presented below is an aging schedule for Bryan Company at December 31, 2021. At December 31, 2021, the unadjusted balance in Allowance for Doubtful Accounts is a credit of $8,000. Instructions a.... The management of Zhou Manufacturing is trying to decide whether to continue manufacturing a part or to buy it from an outside supplier. The part, called CISCO, is a component of the companys... Kapoor Ltd. estimates that 300,000 direct labor hours will be worked during the coming year, 2020, in the Packaging Department. On this basis, the following budgeted manufacturing overhead cost data... Santana Rey expects sales of Business Solutions?s line of computer workstation furniture to equal 300 workstations (at a sales price of $3,000 each) for 2019. The workstations? manufacturing costs... The financial statements of P&G are presented in Appendix B. The companys complete annual report, including the notes to the financial statements, is available online. Instructions Refer to P&Gs... On January 2, 2018, Country Lumber installed a computerized machine in its factory at a cost of $168,000. The machine?s useful life was estimated at four years or a total of 190,000 units with a... Michael Mayfield, the president of Mendo Mill and Lumber Co., in California, received a notice of a legal claim from Edward Starski. The claim alleged that a stack of lumber had fallen on a customer... If the lead time in Example 12.1 changes from one week to two weeks, how is the optimal policy affected? Does the optimal order quantity change? On January 1, Year 1, Beatie Co. borrowed $200,000 cash from Central Bank by issuing a fiveyear, 6 percent note. The principal and interest are to be paid by making annual payments in the amount of... Griffin Corporation received $50,000 of dividend income from Eagle, Inc. Griffin owns 5 percent of the outstanding stock of Eagle. Griffins marginal tax rate is 21 percent. a. Calculate Griffins... A new runway was added to the Vancouver International Airport. As usually occurs with large infrastructure projects, the development was governed by statutes and regulations. That legislation... The following inventory pattern has been observed in the Zahm Corporation over 12 months: Month Inventory Month Inventory Apr-16 1,544 Oct-16 1,208 May-16 1,913 Nov-16 2,467 Jun-16 2,028 Dec-16 2,101... Shannon, Inc., changed from the LIFO cost flow assumption to the FIFO cost flow assumption in 2020. The increase in the prior years income before taxes is $1,200,000. The tax rate is 20%. Prepare... Tatum Company has four products in its inventory. Information about the December 31, 2021, inventory is as follows: Required: 1. Determine the carrying value of inventory at December 31, 2021,... The accounting system used by Dartmouth Sales and Service requires that all entries be journalized in a general journal. To facilitate payments for small items, Dartmouth established a petty cash... What is the net impact on Munchkins net income for the quarter ended June 30, 2020, as a result of this forward contract hedge of a firm commitment? a. $0 b. $2,400 increase in net income c. $4,000... Mozart Inc.s $98,000 taxable income for 20X1 will be taxed at the 21% corporate tax rate. For tax purposes, its depreciation expense exceeded the depreciation used for financial reporting purposes by... a. A nuncupative will may be made only by a person in imminent peril of death and shall be valid only if the testator died as a result of the impending peril, and must be: 1. Declared to be his last... Why do critics charge that fiscal policy has a big-government bias? Complete the W-4 for employment at Equtri Farms effective 6/17/2018: Linda Ellen Marshall 8924 County Line Road Taylorville, Illinois 62555 SSN: 129-53-2309 Married filing jointly Three dependents... At the end of 2019, Framber Company received $8,000 as a prepayment for renting a building to a tenant during 2020. The company erroneously recorded the transaction by debiting Cash and crediting... Consider the simple FI balance sheet below (in millions of dollars). Suppose that depositors unexpectedly withdraw $50 million in deposits and the FI receives no new deposits to replace them. Assume... Hanna Corporation owns 80% of the outstanding voting stock of Fellow Inc. At the date of acquisition, Fellow's retained earnings were $2,100,000. On December 31, Year 2, Hanna Inc. sold equipment to... Refer to Problem 11-1. All of the facts and data given in the problem are the same except that PMI only purchased 40% of the outstanding ordinary shares of Sandora for US$6,400,000. Additional... Project L costs $65,000, its expected cash inflows are $12,000 per year for 9 years, and its WACC is 9%. What is the projects NPV? Use Apples financial statements in Appendix A to answer the following. 1. How many shares of Apple common stock are issued and outstanding at (a) September 30, 2017, and (b) September 24, 2016? 2.... Cineplex Corporation is a diversified company that operates in five different industries: A, B, C, D, and E. The following information relating to each segment is available for 2021. Sales of... At April 30, 2020, Hackney Building Products? year-end, the balance sheet showed PPE information as detailed in the schedule below. The company calculates depreciation for partial periods using the... The accounts of Hernandez Computer Repair, Inc., and their normal balances at March 31, 2018, follow. The accounts are listed in no particular order. Requirements 1. Prepare the company?s trial... The trial balance for Dick?s Repair Service appears in Figure 4.24 Adjustment Data to Update Trial Balance 1. Insurance expired, $450. 2. Repair supplies on hand, $2,800. 3. Depreciation on repair... The accountant for the City of Abernethy calls the local CPA firm that audits the citys financial statements with a question. At the start of the current year, city officials signed a contract to... Arthur's small business has grown to the point where he plans to hire a full-time manager. Arthur, an architect, has little inclination and ab il ity to manage a medium-sized, fast-growing business... Haverhill Electronics (HE) has offered to supply the county government with one model of its security screening device at cost plus 20 percent. HE operates a manufacturing plant that can produce... You have learned about many activities that occur near the end of the audit as the auditors complete their documentation and draw conclusions about the fair presentation of the financial statements.... Mega Company and Holton Company are similar firms that operate within the same industry. The following information is available: a. Which company has the more favourable accounts receivable turnover... Cakes baked by the Freshfood Bakery are transported from the ovens to be packaged by one of three wrappers. Each wrapper can wrap an average of 120 cakes per hour (Poisson distributed). The cakes are... What was the organizational problem in this story? Can someone be responsible for something over which that person does not have authority? How should the new manager have handled Billys request to... Abercrombie & Fitch Co. (ANF) and The Gap, Inc. (GPS) are two U.S. apparel retailers. The current assets and current liabilities for each company from recent balance sheets are as follows (in... An investor is considering the acquisition of a distressed property which is on Northlake Banks REO list. The property is available for $200,000 and the investor estimates that he can borrow $160,000... Claytonhill Beverages Ltd. is 100 percent owned by Buzz Bottling. While the company has in the past been profitable, it incurred a loss for the year ended December 31, 2016. The parent company, Buzz... An article in the Wall Street Journal about the U.S. economy stated, Fed officials have talked down the need for government tax and spending programs aimed at juicing short-term economic growth,... Uddin Corp.?s statement of financial position at the end of 2019 included the following items: The following information is available for the 2020 fiscal year: 1. Net income was $391,000. 2.... Katrina Ellis is the engagement partner of the audit of Champion Securities, an investment company. Most of Champions assets and liabilities are financial and their valuation is critical to the... Use the following adjustment data on July 31 to complete a partial worksheet up to the adjusted trial balance (see Figure 4.21 ). a. Fitness supplies on hand, $1,700. b. Depreciation taken on fitness... The following is the monthly payroll of Andersen Company, owned by Donald Andersen. Employees are paid on the last day of each month. Andersen Company is located at 2 Square Street, Marblehead, MA... Refer to the Icebergs for Kuwait case. Review the problem statement and influence chart that were generated for this case in conjunction with the corresponding exercises in Chapter 2. (If this has... You are discussing your 401(k) with Dan Ervin when he mentions that Sarah Brown, a representative from Bledsoe Financial Services, is visiting East Coast Yachts today. You decide that you should meet... On January 1, 20X4, Parent Ltd. purchased 90% of the shares of Sub Ltd. for $972,000. At that time Sub Ltd. had the following SFP: The bonds were issued at par and will mature in 10 years. Sub Ltd.... The management of KSmall Industries is considering a new method of assembling a computer. The current assembling method requires a mean time of 60 minutes with a standard deviation of 2.7 minutes.... The taxable wages and withheld taxes for Stafford Company (EIN 00-0001462), semiweekly depositor, for the first quarter of 2017 follow. a. Complete Schedule B of Form 941 on page 3-49 for the first... 1. Discuss if HP has competitive advantages and if there are examples of dynamic capabilities. 2. Discuss the interaction of CSAs and HPs FSAs in developing its competitive advantages. 3. Discuss... In response to acid rain damage to Chesapeake Bay, a collaborative federal and state program has been proposed. You have been hired to evaluate the benefits of the plan as part of a formal... Joe Ramsey is a computer programmer at Biosphere Communications. He approaches you, the payroll accountant about his garnishment for child support, claiming that he wishes to remit it personally... Arista Records filed suit against Columbus Farmers Market for vicarious copyright infringement. Arista claims that the flea market is a pirate bazaar where many of the flea markets vendors sell... Dan Crater opened a software consulting firm that immediately paid $28,000 for a computer system. Was Craters computer system an expense of the business? If not, explain. Three years ago, the Oak Street TCBY bought a frozen yogurt machine for $8,000. A salesman has just suggested to the TCBY manager that she replace the machine with a new, $12,500 machine. The manager... Werner Chemical, Inc., leased a protein analyzer on September 30, 2021. The five-year lease agreement calls for Werner to make quarterly lease payments of $391,548, payable each September 30,... The following condensed information is reported by Sporting Collectibles. Required: 1. Calculate the following profitability ratios for 2021: a. Gross profit ratio. b. Return on assets. c. Profit... Information has been collected regarding Orange Companys cash generating unit that includes goodwill. At 31 December 20X5, the assets of the Orange Companys cash generating unit are shown as follows... a. Discuss and describe in detail the steps you should follow when conducting the legal analysis. b. Assume there are possible causes of action based on freedom of speech under the First Amendment... What are some of the likely outcomes of a firms failure to embrace one or more supply chain integration types? 1. Why didnt the parents of the boys in this case initiate their lawsuit against the foreign subsidiaries of Goodyear USA in a French court? 2. Does this decision mean that the boys parents are... Shabby Fitch is the president and principal stockholder of Shabbys Bar & Grill, Inc. To expand, the business is applying for a $350,000 bank loan. To get the loan, Fitch is considering two options... You are the regional sales manager for Lauren Delia News Company. Lauren is making adjusting entries for the year ended March 31, 2021. On September 1, 2020, customers in your region paid $36,000... Two firms, Small and Large, compete by price. Each can choose either a low price or a high price. The following payoff table shows the profit (in thousands of dollars) each firm would earn in each of... Demand in each period follows the same normal distribution (i.e., there is one demand distribution that represents demand in any single period). Assuming demand is independent across periods, which... Say-on-pay votes by shareholders are now quite common. Occasionally, shareholders' non-binding votes do not approve executive compensation. For example, in 2013, share holders of Barrick Gold Corp.... The Bulgarian lev is currently pegged to the euro. Using ISLM diagrams for Home (Bulgarian lev) and Foreign (Eurozone), illustrate how each of the following scenarios affects the Bulgarian lev.... 1. What is your initial reaction to this story? Why do you think you had this reaction? 2. Based on this limited information, how would you rate this organization in terms of developing leadership... In 2015, the U.S. National Income Accounts began to count intellectual property products such as R&D, computer software, books, music, and moviesexplicitly as investment. More correctly, they had... Western Refining purchased a model MTVS peristaltic pump for injecting antiscalant at its nanofiltration water conditioning plant. The cost of the pump was $1200. If the chemical cost is $11 per day,... In February 2017, General Motors CEO Mary T. Barra floated the possibility that the company could exit the large but troubled European market by selling its chronically unprofitable Opel unit to the... South African Gold Mines, Inc. is writing off its $210 million investment using the cost depletion method. An estimated 700,000 ounces of gold are available in its developed mines. This year 35,000... On November 10 of year 1 Javier purchased a building, including the land it was on, to assemble his new equipment. The total cost of the purchase was $1,200,000; $300,000 was allocated to the basis... Use the following information to prepare a multistep income statement and a balance sheet for Sherman Equipment Co. for Year 2. Salaries Expense ..............................................$ 69,000... Caloundra Corporation has book income of $40,000. Included in the book income is $3,000 of tax-exempt interest, $7,000 of book income tax expense, and a $2,000 nondeductible fine. Also included in... Excursion Publishing was recently organized as a corporation. The company issued common stock to an attorney who provided legal services worth $24,000 to help with the incorporation. Excursion also... Ravilero Ltd uses the periodic inventory system and has control accounts and subsidiary ledgers for trade receivables and payables. The general ledger control account balances at 1 June 2016 were:... In 2018, NB Inc.s federal taxable income was $242,000. Compute the required installment payments of 2019 tax in each of the following cases: a. NBs 2019 taxable income is $593,000. b. NBs 2019... The financial statements of P&G are presented in Appendix B. The companys complete annual report, including the notes to the financial statements, is available online. Instructions Refer to P&Gs... The following account information appeared on Ucore Sales? adjusted trial balance as of December 31, 2020. The accounts are listed in alphabetical order. Required 1. Prepare a classified... On January 1, 2020, Taco Taqueria, a Mexican restaurant, purchased equipment for $12,000 cash. Taco Taqueria estimates that the equipment will last five years (useful life). The restaurant expects to... The Watson Foundation, a private not-for-profit entity, starts 2020 with cash of $100,000, contributions receivable (net) of $200,000, investments of $300,000, and land, buildings, and equipment... Pate Corp. owns 80% of Strange Inc.s common stock. During 20X1, Pate sold inventory to Strange for $600,000 on the same terms as sales made to outside customers. Strange sold the entire inventory... Nair A.G. enters into a contract with a customer to build an apartment building for 1,000,000. The customer hopes to rent apartments at the beginning of the school year and provides a performance... Amazon Company has been in business several years. At the end of the current year, the ledger shows: Accounts Receivable R$ 310,000 Dr. Sales Revenue 2,200,000 Cr. Allowance for Doubtful Accounts...
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