Financial Accounting questions and answers in November 2021

Based on your calculations in Tab 3, Questions 1-4, should LGI proceed with the acquisition of the robotics-based manufacturing equipment? Explain your reasoning. How would the acquisition fit into t...
3. The proposed sale of the Bowie plant is part of the effort to divest the company of underperforming assets. A total of $1.2 billion in assets, with a book value of $650 million, have been identifie...
Dividends Per Share Windborn Company has 15,000 shares of cumulative preferred 3% stock, $150 par and 50,000 shares of $10 par common stock. The following amounts were distributed as dividends: 20Y1 $...
Amazon luxury Inc. is evaluating the following two mutually exclusive projects. The company estimates that the required rate of return is 10.75 percent for project A and 12 percent for project B. Whic...
1)Coquitlam Construction Inc. has recently bought an asset costing $525,000. The asset assumes a useful of 4-year, $90,000 salvage value, and is depreciated on a straight-line method. It is reported t...
Telus Brewery Inc. is purchasing a new asset of $225,000 and is expected to have useful life for five years with no salvage value. The company will use a 30% CCA rate as per the appropriate classifica...
1)Coquitlam Construction Inc. has recently bought an asset costing $525,000. The asset assumes a useful of 4-year, $90,000 salvage value, and is depreciated on a straight-line method. It is reported t...
Proceeds from Notes Payable On January 26, Vibrant Co. borrowed cash from Conrad Bank by issuing a 60-day note with a face amount of $49,200. Assume a 360-day year. a.   Determine the proceeds of the...
I am stuck here... I have gotten some info, but cannot figure out the rest of the entries    Entries for notes payable Bennett Enterprises issues a $684,000, 60-day, 7%, note to Spectrum Industries ...
b.   Journalize the first annual note payment. If an amount box does not require an entry, leave it blank.   Accounts PayableBonds PayableCashInterest ExpenseInterest PayableInterest ReceivableInter...
7. Glasgow Co. Statement of Retained Earnings for 2015 ($ millions) Retained earnings brought forward at January 1, 2015 Net income for 2015 Dividend paid Retained earnings at December 31, 2015 Glasgo...
    I need help answering the questions below. The worksheets above are used to answer the questions below:     1. Present-value calculations, rather than future-value calculations, are the key to...
1)Ayeza thinks of investing $10,000 a year in real terms into her investment account for the next four years. The relevant nominal discount rate is 7.5% and the inflation rate is 4.2%. Calculate the r...
2)Colliers Concord Ltd. has recently issued a bond 5.75% coupon bonds outstanding with a current market price of $689.40. The yield to maturity is 11.20% and the face value is $1,000. Interest is paid...
1) Student loan interest is deductible up to a maximum amount of $3,000. true  false    2) The American Opportunity Credit is characterized by all of the following EXCEPT: a. It can be claimed only...
ACC 4302 Fall 2021 Tax Project   The Forecast and Budget Department of XYZ Corporation (involved in the retail trade business) has developed the following selected financial information for the year ...
Q.1) On January 1, 2021, the Chinlee Company budget committee reached agreement on the following data for the six months ending June 30, 2021: 1. Sales units: First quarter 4,900; second quarter 6,200...
  The City of Lynnwood was recently incorporated and had the following transactions for the fiscal year ended December 31. The city council adopted a General Fund budget for the fiscal year. Revenues...
Kiersten and Greg are married and they have two children, aged 2 and 5. They pay a babysitter  $150 per week to take care of their children for 48 weeks each year. Kiersten works full time    and e...
Interview Notes . Archie and Tina Reynolds are married and always file Married Filling Jointly. . Archie eamed $32,000 in wages and Tina earned $24,000 in wages. . The Reynolds paid all the cost of ke...
Interview Notes .Joe is 35 years old and has never been married. .Suzanna, age 12, is Joe's niece who lived with him all year. Joe provided all of her support and provided over half the cost of keepin...
Quality Cabinets Inc. (Quality) manufactures custom kitchen...   Quality Cabinets Inc. (Quality) manufactures custom kitchen cabinets from its location in Squamish, B.C. The cabinets are then sold to...
Case Study 2-Internal Service Fund The City of Granville operates an internal service fund to provide garage space and repairs for city-owned and operated vehicles. The Garage Fund's preclosing trial ...
Vitality Vancouver Inc. (VVI) has recently raised debt capital through long-term financing. The bond indenture includes issuing 8% coupon bonds on the market that are selling at $989, pay interest sem...
cost of capital is 8.05%     What is the PV of these cash flows?     Projected after-tax cash flows   Year (in $ millions)   1 (45)   2 (45)   3 (45)   4 (45)   5 (45)     The analysis is ...
X Company has an opportunity to accept a special order that will result in immediate profit of $50,000. The marketing manager warns that if X Company accepts the order, there will be an adverse reacti...
The following Income Statement Is for X Company and Its only two products - A and B: Product Product Total A B Sales $179,620 $88,120 $91,500 Variable Costs 98,656 51,991 46,665 Contribution $80,964 $...
Last year, X Company sold 62,200 units of its only product for $17.00 each. Total costs were as follows: Cost of goods sold Variable $402,434 Fixed 132,486 Selling and administrative Variable $67,176 ...
E11-7 The law firm Garner & Brown received from a large corporate client an annual retainer fee of $60,000 on January 2, 2020. The fee is based on anticipated monthly services of $5,000. Required ...
P9-7A Assume that Brechin Farm Equipment completed the following selected transactions:   2019   Dec.   1 Sold equipment to Fifty Acres Farms, receiving a $40,000, six-month, 5 percent note. Ignore...
P9-6A Record the following selected transactions in the general journal of WM Gaming Supplies and show all your answers to two decimal places. Explanations are not required.   2019   Nov. 21 Receive...
For two recent years, Robinhood Company reported the following:   20Y9 20Y8 Sales $8,578,500 $7,257,000 Accounts receivable:     Beginning of year 650,000 580,000 End of year 640,000 650,000 a. Det...
 . Required information Use the following information for the Exercises 11-13 below. (Algo) [The following information applies to the questions displayed below.] Tree Seedlings has the following curr...
An investor is considering the purchase of a small office building. The NOI is expected to be the following: Year 1, $216,000; Year 2, $226,000; Year 3, $236,000; Year 4, $246,000; Year 5, $256,000. T...
On March 2, 2021, HABIBIYUCK bought an equipment costing P1,200,000. It is the Company's policy to depreciate long-lived assets using the double declining balance. The equipment had a useful life of 1...
Herbert, Inc. expects to generate earnings over the next five years of P50,000; P60,000; P65,000; P70,000 and P75,000. Using the Capitalization of Earnings Method, what is the estimated value of the f...
Kristine, a shareholder, received P10 per share as a liquidation value for the 1,000,000 shares of Cathy Company that she owned. Kristine owned a 10% ownership stake in Cathy Company. How much was the...
Pinder Ltd currently has 5 million shares outstanding that are trading at $18 per share. Due to some unforeseen problems, Pinder Ltd needs quick access to capital and decides to raise $1 million placi...
Pinder Ltd is considering investing $500,000 in a factory that will produce electric bicycles. Pinder Ltd has secured a contract with a major retailer who has guaranteed that Pinder Ltd will receive $...
On January 5, 2021, Lighter Company acquired a building. The building had an estimated useful life of 10- years and an estimated salvage value of P50,000. The depreciation applicable to this building ...
On January 5, 2021, Lighter Company acquired a building. The building had an estimated useful life of 10- years and an estimated salvage value of P50,000. The depreciation applicable to this building ...
Question 28. Pinder Ltd is currently trading at $15 per share and is planning on a dividend of $2 per share. The capital gains tax and dividend income tax for Pinder Ltd's shareholders are 10% and 20%...
Case 21-4 Grocery Inc. Grocery Inc. (Grocery or the "Company"), an SEC registrant, is a wholesale grocery distributor and retailer in the United States. One of the Company's core businesses is d...
1. How much of the costs were allocated between the standard and deluxe models of the product? Is the marketing manager correct that LGI is making significant margins on the Deluxe Loot Box? Please el...
Grocery Inc. (Grocery or the "Company"), an SEC registrant, is a wholesale grocery distributor and retailer in the United States. One of the Company's core businesses is distributing grocery products ...
Question     You have an opportunity to acquire a property from First Capital Bank. The bank recently obtained the property from a borrower who defaulted on his loan. First Capital is offering the p...
Question     You have an opportunity to acquire a property from First Capital Bank. The bank recently obtained the property from a borrower who defaulted on his loan. First Capital is offering the p...
Explain how the process of valuing a high-growth company differs from valuing an established company? In what way would valuing a high-growth firm be similar to valuing an established firm that has re...
20. Question 20 On January 2020, Mina Company paid the national government a fee in the amount of P129,000,000 for an area of interest with removable ore estimated by geological surveys at 10,000,000 ...
Faith Company purchased an equipment on January 2, 2021 for P3,000,000. The equipment had an estimated useful life of 5 years. It is the company's policy to use the double declining method in its firs...
8.)Chuck Company operates an oil platform at the Pacific Ocean. An oil platform was built by the Company at a cost of P25,000,0000 on January 1, 2011, the present value of expected restoration costs a...
Shellfish Company determined that, due to the obsolescence, equipment with an original cost of P180,000 and accumulated depreciation at January 1, 2020 of P84,000 had suffered permanent impairment, an...
  An extracted trial balance for sole trader B Moore. as at 30 September 2021 is as follows:   B Moore DR CR Trial Balance as at30 September 2021       £ £ Cash at bank 45,000   Cash in...
Support Ontario is a not for profit organization that has been in existence for 10 years. The organization operates in various cities throughout the province of Ontario providing assistance to familie...
MAHAL admits KITA as partner in business. Accounts in the ledger for MAHAL on October 31, 2021, just before the admission of KITA show the following balances: Cash: $50,000 Accounts Receivable: $110,0...
According to the information given in the video please answer the following 3 questions.. I will leave a nice review and thumbs up.   3 Questions: If net income is all cash, is Kevin's valuation of t...
QUESTION 2 To safeguard the interest of the members of a superannuation fund certain regulatory frameworks are designed and the adequacy of such frameworks are considered as great concerns across the ...
  1. Which of the following statements about the feasibility of a hotel is TRUE?Which of the following statements about the feasibility of a hotel is TRUE? A. Local regulations govern the structure o...
 9-1 DPS CALCULATION Weston Corporation just paid a dividend of $1.00 a share (i.e., D0=$1.00). The dividend is expected to grow 12% a year for the next 3 years and then at 5% a year thereafter. What...
On October 1, Mahaba and Maliit pooled their assets to form a Partnership, with the firm to take over the business assets and assume liabilities. Partners capitals are to be based on net assets transf...
You are considering purchasing a bond between settlement periods with a 6% coupon rate and 4 semi-annual coupon payments remaining. There are 182 days in the coupon period and the days between the las...
Maria, a portfolio manager at AHA Investments, manages the retirement account   established with the firm by her parents. Whenever IPOs become available, she first allocates shares to all her other c...
Mary's son will be attending college in 4 years. Assume current tuition and fees are $40,870, and inflation for college costs averages 6.1 percent. Mary can earn 5.3 percent on the money she invests f...
"Public sector reform is driven by various factors: fiscal and economic crises, domestic pressures and the influence of international financial institutions and donors. The New Public Management (NPM)...
One of the fixed-income portfolio managers is considering purchasing a three-year 6% annual coupon paying bond. Please use this information to answer parts A and B.   Using the par rates for annual c...
The following information assumes that the CFA Institute Code of Ethics and Standards are applicable. Maria, a portfolio manager at AHA Investments, manages the retirement account established with the...
Sabrina is based in Japan and she would like to invest in a U.S. corporation to diversify her portfolio. Currently the U.S. corporation is issuing two bonds in the Japanese market:   Bond NYS which i...
One of the fixed-income portfolio managers is considering purchasing a three-year 6% annual coupon paying bond. Please use this information to answer parts A and B.   Using the par rates for annual c...
Joe Smith, an investment adviser, has two clients: Nathan King, 50 years old, and Tony Wall, 40 years old. Both clients earn roughly the same salary, but King wants only to achieve a steady rate of re...
Serena is based in Singapore and works covering the Singapore market for her U.S. based employer. She is invited to a meeting with the top 20 shareholders of a pharmaceutical company to meet with the ...
During March 2020 a dog grooming parlour had the following transactions (ignore GST): March 2 Paid $1800 cash for the month's rent. 3 Purchased equipment costing $7 000 by making an online bank transf...
I need help with A B and C. Balance Sheets 2019 2020 2021 2022 2023 Case Study A: Valuing Early Stage Ventures - 10 marks Required Cash 11,850 16,590 15,405 14,220 12,680 Raymond Spencer founded Flavo...
Gidget has a new widget to bring to market.  If the firm goes directly to market with the product, there is a 55% chance of success.  However, the firm can conduct a customer segment research, which...
The exercise questions cover the main learning outcomes of chapter 6. The main topics covered include annuities,loan repayments, interest and the cashflow evaluation.   3) Vancouver estate would like...
The exercise questions cover the main learning outcomes of chapter 6. The main topics covered include annuities,loan repayments, interest and the cashflow evaluation.   1)Ali borrows $239,000 to buy ...
Sandhill Company had the following selected transactions.   Feb. 2   Purchases supplies from Supplies R Us on account for $2,300. 10   Cash register sales total $39,700, plus 5% GST and 8% PST. Ign...
                 The following data are provided for John Mean Corporation.      Balance Sheet (December 31)      2019   2020 Cash      $  68,000  $  69,000 A/R          24,...
51. Nancy was assigned the task of preparing pro-forma financial statements to value a potential acquisition. She used two different growth rates, 1.0% and 1.2%, in different cells of the spreadsheet ...
23. Nancy is creating a spreadsheet to document her sales every day. She is including a chart of her sales to visualize the numbers. What does Nancy need to do in Excel to ensure that, when new sales ...
15. Please refer to the following screenshot. The prices of the goods in Column A that are higher than the average price for all products are highlighted in red in the table. How do you achieve this w...
Vulko Corp. (Vulko) reported a loss of $332,000 for the year ended October 31, 2020. The following information is also available: 1. Vulko has been profitable over the past three years. Aggregate taxa...