assume for simplification purposes that it is acceptable to use an average exchange 613361

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Replacement award requiring no post-combination service replacing vested acquiree award

Entity A acquires Entity B and issues replacement awards with a fair value at the acquisition date of €1.1 million for awards of Entity B with a fair value at the acquisition date of €1.0 million. No post-combination services are required for the replacement awards and Entity B’s employees had rendered all of the required service for the acquiree awards as of the acquisition date.

The amount attributable to pre-combination service, and therefore included in the consideration transferred in the business combination, is the fair value of Entity B’s awards at the acquisition date (€1.0 million). The amount attributable to post-combination service is €0.1 million, the difference between the total value of the replacement awards (€1.1 million) and the portion attributable to pre-combination service (€1.0 million). Because no post-combination service is required for the replacement awards, Entity A immediately recognises €0.1 million as remuneration cost in its post-combination financial statements.

clarenville kitchen products produces and sells upscale mixers and breadmakers 643096

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(Comprehensive) Clarenville Kitchen Products produces and sells upscale mixers and breadmakers. In October 2010, Clarenville’s budget department gathered the following data to meet budget requirements for 2011.

2011 PROJECTED SALES

Product

Units

Price

Mixers

60,000

$ 90

Breadmakers

40,000

140

2011 INVENTORIES (UNITS)

Expected

Desired

Product

1/1/11

12/31/11

Mixers

15,000

20,000

Breadmakers

4,000

5,000

To produce one unit of each product, the following major internal components are used (in addition to the plastic housing for products, which is subcontracted in a subsequent operation):

Component

Mixer

Breadmaker

Motor

1

1

Beater

2

4

Fuse

2

3

Projected data for 2011 with respect to components are as follows:

Anticipated

Expected Inventory

Desired Inventory

Purchase Price

1/1/11

12/31/11

Motor

$18.00

2,000

3,600 units

Beater

1.75

21,000

24,000 units

Fuse

2.40

6,000

7,500 units

Projected direct labor requirements for 2011 and rates are as follows:

Product

Hours per Unit

Rate per Hour

Mixers

2

$ 8

Breadmakers

3

10

Overhead is applied at a rate of $7.50 per direct labor hour.

Based on these projections and budget requirements for 2011 for mixers and bread makers, prepare the following budgets for 2011:

a. Sales budget (in dollars)

b. Production budget (in units)

c. Internal components purchases budget (in units and dollars)

d. Direct labor budget (in dollars)

e. The total production cost, excluding subsequent departments, per mixer and per breadmaker

propose and evaluate two other courses of action you might consider and explain why 644685

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1.Review the Decision Ethics case from the first part of this chapter involving the cashier. The guidance answer suggests that you should not comply with the assistant manager’s request.

Required

Propose and evaluate two other courses of action you might consider, and explain why.

2. Mora Stanley is an aspiring entrepreneur and your friend. She is having difficulty understanding the purposes of financial statements and how they fit together across time.

Required

Write a one page memorandum to Stanley explaining the purposes of the four financial statements and how they are linked across time.

what amount should paper report as net cash provided by operating activities in its 634234

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Paper Co. had net income of $70,000 during the year. Dividend payment was $10,000. The following information is available:

Mortgage repayment

$20,000

Available-for-sale securities purchased

10,000

increase

Bonds payable—issued

50,000

increase

Inventory

40,000

increase

Accounts payable

30,000

decrease

What amount should Paper report as net cash provided by operating activities in its statement of cash flows for the year?

  1. $0
  2. $10,000
  3. $20,000
  4. $30,000

after viewing the accounts it was apparent that the following adjusting entries were 592793

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A friend has asked you to look at the accounts of his small restaurant and recommend the end-of-period adjusting entries. After viewing the accounts, it was apparent that the following adjusting entries were required.

Complete journal entries for each required adjustment.

a. A total of $2,040 of prepaid insurance must be expensed.

b. A total of $5,000 of prepaid rent has been consumed.

c. Kitchen equipment depreciation in the amount of $3,500 must be recognized.

d. Wages earned and due employees but not paid total $692.

e. Supplies of $874 have been used.

f. Interest on a note payable in the amount of $290 must be accrued.

at macquarie bank copies of all customer documentation including billing statements 629078

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At Macquarie Bank, copies of all customer documentation including billing statements, customer-generated correspondence, and computer summary data are scanned and sorted by computer. With the document management system, service representatives can recall on-screen copies of documents while speaking with the customer, and can print a copy with the touch of a button for mailing or faxing to the customer. Additionally, documents are much easier to find, as they can be cross-indexed by customer account, invoice number, date of occurrence, customer name, or other ways.

how does the use of the fifo versus the lifo cost flow assumptions affect the statem 650235

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Effect of FIFO versus LIFO on income tax expense

Beth Porter, Inc., had sales of $225,000 for 2009, its first year of operation. On April 2, the company purchased 200 units of inventory at $210 per unit. On September 1, an additional 150 units were purchased for $230 per unit. The company had 50 units on hand at the end of the year. The company’s income tax rate is 35 percent. All transactions are cash transactions.

Required

a. The preceding paragraph describes five accounting events: (1) a sales transaction, (2) the first purchase of inventory, (3) a second purchase of inventory, (4) the recognition of cost of goods sold expense, and (5) the payment of income tax expense. Record the amounts of each event in horizontal statements models like the following ones, assuming first a FIFO and then a LIFO cost flow.

Effect of Events on Financial Statements
Panel 1: FIFO Cost Flow

Event
No.

Balance Sheet

Income Statement

Statement of
Cash Flows

Cash

+

Inventory

=

C. Stk.

+

Ret. Earn.

Rev.

Exp.

=

Net Inc.

Panel 2: LIFO Cost Flow

Event
No.

Balance Sheet

Income Statement

Statement of
Cash Flows

Cash

+

Inventory

=

C. Stk.

+

Ret. Earn.

Rev.

Exp.

=

Net Inc.

b. Compute net income using FIFO.

c. Compute net income using LIFO.

d. Explain the difference, if any, in the amount of income tax expense incurred using the two cost flow assumptions.

e. How does the use of the FIFO versus the LIFO cost flow assumptions affect the statement of cash flows?

This week you have two options for your initial discussion post. Select the option that is best for you! Please remember to use and credit the lesson or required NIH website (there was not a textbook

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This week you have two options for your initial discussion post. Select the option that is best for you! Please remember to use and credit the lesson or required NIH website (there was not a textbook reading this week), AND one outside scholarly source.

Option #1 – Case Study to Consider

Ann and Michael have been married for 55 years. Ann is 80 years-old, and suffers from lung cancer and advanced Alzheimer’s disease. She currently resides in a nursing home, and often does not recognize Michael when he visits. Last night she was admitted to the hospital with difficulty breathing. Today, you are the nurse caring for Ann, and her physician is suggesting surgery to remove part of her lung to potentially slow the progression of her cancer. Michael is feeling unsure about this course of treatment, and asks for your advice and guidance.

How would you respond to Michael and serve as advocate for your patient?

Option #2 – Share a Related Experience

Share with your classmates a time when you cared for a patient at the end of their life. This may be a time when you assisted the patient (or their support system) with decisions related to end of life care; or a time when you were present for the death of a patient.

What were your observations related to this experience? Do you believe it was a peaceful death? What went well? Can you think of anything that could have made the experience better for the patient and/or family?

The length of rectangle is 4 meters less than twice the width. If the area of the rectangle is 336 square meters, find the distance

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The length of rectangle is 4 meters less than twice the width. If the area of the rectangle is 336 square meters, find the distance

a company has a portfolio of financial assets that is classified as held to maturity 598088

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Change of management

A company has a portfolio of financial assets that is classified as held-to-maturity. In the current period, at the direction of the board of directors, the senior management team has been replaced. The new management wishes to sell a portion of the held-to-maturity financial assets in order to carry out an expansion strategy designated and approved by the board.

Although the previous management team had been in place since the company”s formation and had never before undergone a major restructuring, the sale nevertheless calls into question the company”s intention to hold remaining held-to-maturity financial assets to maturity and the company may be prohibited from using the held-to-maturity classification if the amounts involved are not insignificant.