Assuming that Mecca International views its share buybacks as treasury stock, record the appropriate journal entry for each of the following transactions: (If no entry is required for a transaction/event, select “No journal entry required” in the first account field. Enter your answers in millions (i.e., 10,000,000 should be entered as 10).)
1. On February 12, 2021, Mecca reacquired 1 million common shares at $17 per share. 2. On June 9, 2022, Mecca reacquired 2 million common shares at $14 per share. 3. On May 25, 2023, Mecca sold 2 million treasury shares at $19 per share. Determine cost as the weighted-average cost of treasury shares. 4. For the previous transaction, assume Meca determines the cost of treasury shares by the FIFO method.
On September 1, 2017, Messner Corp. issued a $250,000, 12%, four-year bond. Interest is payable semi-annually beginning March 1, 2018. Required: a. Calculate the bond issue price assuming a market interest rate of 10% on the date of issue. b. Using the effective interest method, prepare an amortization schedule. Question 2: Refer to the amortization schedule prepared in Question 1. Assume a January 31 year-end. Required: Part 1 Record the following entries: a. Issuance of the bonds on September 1, 2017 b. Adjusting entry to accrue bond interest and premium amortization on January 31, 2018
c. Payment of interest on March 1, 2018 Part 2 Show how the bond will appear on the balance sheet under non-current liabilities at January 31, 2020. Question 3: On February 1, 2017, Fireside Corp. issued a $700,000, 8%, two-year bond. Interest is payable quarterly each May 1, August 1, November 1, and February 1. Required: Part 1 a. Calculate the bond issue price assuming a market interest rate of 16% on the date of issue. b. Using the effective interest method, prepare an amortization schedule. c. Record the entry for the issuance of the bond on February 1; the adjusting entry to accrue bond interest and related amortization on March 31, 2017, Fireside Corp.’s year-end; and the payment of interest on May 1, 2017. d. Record the entry for the retirement of the shares at 101, on February 1, 2018, one year early, and after the interest payment.
A Journalizing dividends and treasury stock transactions and preparing the stockholders’ equity section of the balance sheet Deerborn Manufacturing Co. completed the following transactions during 2018:
Jan. 16 Declared a cash dividend on the 6%, $103 par noncumulative preferred stock (1,050 shares outstanding). Declared a $0.20 per share dividend on the 100,000 shares of $2 par value common stock outstanding. The date of record is January 31, and the payment date is February 15. Feb. 15 Paid the cash dividends. Jun. 10 Split common stock 2-for-1. Jul. 30 Declared a 30% stock dividend on the common stock.
The market value of the common stock was $9 per share. Aug. 15 Distributed the stock dividend. Oct. 26 Purchased 1,000 shares of treasury stock at $8 per share. Nov. 8 Sold 500 shares of treasury stock for $10 per share. 30 Sold 300 shares of treasury stock for $4 per share.
Requirements 1. Record the transactions in Deerborn’s general journal. 2. Prepare the Deerborn’s stockholders’ equity section of the balance sheet as of December 31, 2018. Assume that Deerborn was authorized to issue 2,600 shares of preferred stock and 400,000 shares of common stock. Both preferred stock and common stock were issued at par. The ending balance of retained earnings as of December 31, 2018, is $2,060,000.
Variable/Absorption Costing
As you read in Chapter 8, there are arguments (for and against) variable costing and absorption costing. Select one of these costing methods and explore the various arguments. Determine whether you are “for” or “against” this selected method. Provide evidence from the text to support your position. Your initial post should be 200-250 words.
Guided Response:
Review several of your classmates’ postings. Respond to at least two of your classmates who explored a different costing method than your own by stating whether you agree or disagree with their position. Be sure to include cited support/examples to clarify your point of view.
Reference:
Schneider, A. (2012). Managerial accounting: Decision making for the service and manufacturing sectors. San Diego, CA: Bridgepoint Education, Inc.
Alex Hardaway borrowed $91,550 on March 1, 2010. This amount plus accrued interest at 12% compounded semi-annually is to be repaid March 1, 2020.
Intermediate Accounting, I-Time Value of Money
Alex Hardaway borrowed $91,550 on March 1, 2010. This amount plus accrued interest at 12% compounded semi-annually is to be repaid March 1, 2020. To retire this debt, Alex plans to contribute to a debt retirement fund five equal amounts starting on March 1, 2015, and for the next 4 years. The fund is expected to earn 10% per annum.
How much must be contributed each year by Alex Hardaway to provide a fund sufficient to retire the debt on March 1, 2020? (Round answers to 0 decimal places, e.g. $458,581.)
Annual contribution to debt retirement fund$
Successful builders rely on tools they know have worked well in the past. It isn’t enough to know simply what tools that are available; becoming successful depends upon learning which tool is right for a given job. You might know you need a saw to cut materials, but an accomplished builder will know immediately whether you’ll need a circular saw or a reciprocal saw. Both are electric, and both cut through materials, but they serve different functions. Determining which tool to use depends on many factors, such as the type of material used and the desired end result.
As in building, certain tools have been shown to be necessary in the construction of a successful public health program; these tools include logic models, budgets, and timelines. Logic models, which can take many forms, are graphic representations of what a program intends to accomplish (outputs) with the resources available (inputs). Budgets and timelines also may be represented graphically. Public health professionals need to understand the uses and challenges of tools used in public health program implementation.
For this week’s Discussion, review the media titled Programming Tools. Also, explore the sample logic models, budgets, and timelines in the Learning Resources. Select one of the three programming tools: a logic model, a budget, or a timeline, and consider the potential uses and challenges of using this tool in your SPP
rdb074 posted a question Jun 21, 2014 at 6:22am Hi Night owl, the following is the 2nd part to the assignment you previously assisted with. For the most part all of the info needed comes from the team charter you created. In terms of more personal info about me other than what I included in the previous question let me know if you need it and I will get it to you. If what I' presented already is not enough. Assignment: Individual Reflection: My Role as an Effective Collaborator (Part 2): Resume and Cover Letter Last week, you designed a Team Charter as part of the application process for a position at WCI, a fictional organization whose mission is to improve teamwork at organizations worldwide.
Creating a Team Charter is only the first step in this process, however. In order to consider you as a candidate for a position on their model team, WCI also requires that you submit an up-to-date resume and a cover letter. For the second part of the Individual Reflection, you will build off the Team Charter you developed for the Individual Reflection from Week 5 to finalize your application for the position at WCI. To complete this week’s Individual Reflection: Create and submit a resume that highlights your individual skills critical to teamwork and effective collaboration. Your resume should be at least one page, but not more than two pages. You should include relevant examples to support your experience and skills. Draft and submit a one-page cover letter in which you try to “sell yourself” to WCI. Your goal is to get hired on the model team, so be sure to talk about your passion for teambuilding, past experience in team work, and any other information you think would be helpful to WCI. Your letter should be addressed to: [removed] Thank you, RDB
Imagine you are part of a strategic planning group at a large corporation that is considering developing a new proposed product. The marketing director has asked you to do a competitive analysis to determine the product' s potential success. The analysis will focus on your primary competitor in the product' s market.
The selected competitive organization is McDonalds and the product is the McVeggie Burger.
Write a 500-to-600-word paper analysing the current market conditions. Address the following topic:
Factors that affect demand, supply, and prices in the market in which the competitor organization operates.
Make recommendations on how your organization can maximize their profit-making potential and successfully compete in the new market. Consider the effect your recommendations may have on marginal revenues and costs.
Use a minimum of 3 peer reviewed sources.
Format your paper consistent with APA guidelines.