Villa Company has experienced tough competition, leading it to s

Villa Company has experienced tough competition, leading it to seek concessions from its employees in the company’s pension plan. In exchange for promises to avoid layoffs and wage cuts, the employees agreed to receive lower pension benefits in the future. As a result, Villa amended its pension plan on January 1, 2012, and recorded negative unrecognized past service cost of $125,000. The average period to vesting for the benefits affected by this plan is 5 years. Compute unrecognized past service cost amortization for 2012. Discuss the impact of this amendment on Villa’s pension expense in 2012 and 2013.

 

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a n d the Determine the amount to be paid by the buyer for full settlement of each invoice, assuming

a n d the Determine the amount to be paid by the buyer for full settlement of each invoice, assuming that credit for returns and allowances was received pand within the discount pened. Merchandise Transportation Paid by Seller Transportation Terms Returns and Allowances $13,300 FOB Shipping Point, 1/10, net 30 $1,300 $14,000 FOB Destination, 2/10, net 45 $1100

 

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Create a fund-raising summary of the various methods that may be used to obtain funding for a sport

Create a fund-raising summary of the various methods that may be used to obtain funding for a sport or entertainment organization.Please select a professional sports team to serve as the basis for your fund-raising summary. Based on research you conduct, your task is to list a minimum of five possible resources that may be used to generate revenue for your respective organization (bonds and donations from relatives and friends MAY NOT be used). In approximately 500 words, you should explain why you selected each of the potential revenue streams on the list as well as how they are a great fit for your organization in your efforts to obtain funding.

 

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Researching Accounting Standards To help you become familiar with the accounting standards, this…

Researching Accounting Standards

To help you become familiar with the accounting standards, this case is designed to take you to the FASB’s Web site and have you access various publications. In this chapter, we discussed the accounting for compensation which includes pensions and other postemployment benefits. For this case, we will use Statement of FinancialAccounting Standards No. 87,“Accounting for Pensions.” Open FASB Statement No. 87.

1. Paragraph 13 mentions two problems that must be addressed when accounting for defined benefit pension plans. What are those two problems?

2. Paragraphs 17 and 18 discuss the difference between the projected benefit obligation and the accumulated benefit obligation. What is the primary difference between these two measurements?

3. The fair value of plan assets plays an important role in measuring the pension asset or liability. Paragraph 23 discusses how the actual return on plan assets is to be computed. How is that computation made?

 

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Lessor enters into an agreement with Lessee on January 1, 19A, for a 3-year rental of a machine.

Lessor enters into an agreement with Lessee on January 1, 19A, for a 3-year rental of a machine. The machine has a 4-year life with a salvage value of $5,000 after 3 years and zero at the end of 4 years.

Lessor’s cost and selling price are both $25,000. Lessor’s interest rate is 8%; Lessee’s rate is 10%, and

Lessee is aware of Lessor’s rate.

Lessee has an option to purchase this machine after 3 years at a bargain price of $4,000. There are no uncertainties regarding costs or collections.

(a) What type of lease is this? Why?

(b) What interest rate should be used by Lessor? By Lessee?

(c) Calculate the annual rental.

 

 

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interest expense would be classified on a multiple-statement under the heading

interest expense would be classified on a multiple-statement under the heading

 

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“Assume that both component units qualify for discrete presentation. On its government-wide statemen

“Assume that both component units qualify for discrete presentation. On its government-wide statements, the township elects to combine the two units into a single column.”

 

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Western Sound Studios records and masters audio tapes of popular 1 answer below »

Western Sound Studios records and masters audio tapes of popular artists in live concerts.
The performers use the tapes to prepare ?~?~live’’ albums, CDs, and MP3s. The following account balances were available at the beginning of 2009:
Accounts Payable …………………………….$ 11,900
Accounts Receivable …………………………. 384,000
Cash ………………………….……………….. 16,300
Common Stock ……………………………….. 165,000
Interest Payable ………………………………. 11,200
Long-Term Notes Payable ……………………. 100,000
Rent Payable, Building ……………………….. 4,000
Rent Payable, Recording Equipment …………. 7,000
Retained Earnings, 12/31/2008 ……………….. 101,200
During 2009, the following transactions occurred (the events described below are aggregations of many individual events):
a. Taping services in the amount of $994,000 were billed.
b. The accounts receivable at the beginning of the year were collected.
c. In addition, cash for $983,000 of the services billed in transaction a was collected.
d. The rent payable for the building was paid. In addition, $48,000 of building rental costs was paid in cash. There was no rent payable or prepaid at year-end.
e. The equipment rent payable on January 1 was paid. In addition, $84,000 of equipment rental costs was paid in cash. There was no rent payable or prepaid at year-end.
f. Utilities expense of $56,000 was incurred and paid in 2009.
g. Salaries expense for the year was $702,000. All $702,000 was paid in 2009.
h. The interest payable at January 1 was paid. During the year, an additional $11,000 of interest was paid. At year-end no interest was payable.
i. Income taxes for 2009 in the amount of $19,700 were incurred and paid.

Required:
1. Establish a ledger for the accounts listed above and enter the beginning balances. Use a chart of accounts to order the ledger accounts.
2. Analyze each transaction. Journalize as appropriate. (Ignore the date since these events are aggregations of individual events.)
3. Post your journal entries to the ledger accounts. Add additional ledger accounts when needed.
4. Use the ending balances in the ledger accounts to prepare a trial balance.

 

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Help Save & Exit Submit 13-18 Check my work Oakmont Company has an opportunity to manufacture…

Help Save & Exit Submit 13-18 Check my work Oakmont Company has an opportunity to manufacture and sell a new product for a four-year period. The company's discount rate is 18%. After careful study, Oakmont estimated the following costs and revenues for the new product: Cost of equipment needed Working capital needed Overhaul of the equipment in year two Salvage value of the equipment in four years $ 230,000 $ 84,000 $ 9,000 $ 12,000 Annual revenues and costs: Sales revenues Variable expenses Pixed out-of-pocket operating costs $ 400,000 $ 195,000 $ 85,000 When the project concludes in four years the working capital will be released for investment elsewhere within the company Click here to view Exhibit 13B-1 and Exhibit 13B-2. to determine the appropriate discount factors) using tables. Required: Calculate the net present Value of this investment opportunity. (Round your final answer to the nearest whole dollar amount.) Net present value Prey 1 of 1 Q Search or type URL or HIT 130-1 58 7 TO 11 12 13 14 15 16% 17% 18 19% 20% 21% 22% 23 24 24 0962 O O OO 0025 917 900 901 99 S 0.329 080 OR OSS O 847 0 840 03 026 0220 0.813 0 806 0. 0.925 0.00 0.00 ORT) OUT 014201326 0812 0.797 0783 0.750 0.756 0.743 0731 0718 0.705 0.694 0.6 O O O 1400116 794 0772 0.672 0.661 0 650 06 51 0731 0712 0693 0675 068 0641 0624 0 609 0 593 0.579 0564 0551 0537 054 05 OSS 023 0.792 0163 0735 0708 683 065 0636 0613 502 0572 22 OB 0.167 0713 0681 650 0621 0 552 534 516 0.499 0.42 0.467 0.451 0437 0423 0.41 3 0567 0543 0.519 0497 0.475 0.456 0.437 0.419 0.402 0386 02370 0355 0 341 0.32 0700 0746 O 705 066 0630 506 564 0535 0.507 0480 0.456 0.432 0410 0.390 00011 06 13 513 370 0.352 0335 0.319 0303 0.299 0275 0.26 0731 0677 0627 2 0.45 0425 000 0.375 034 033 3140296 0279 0.263 0249 0235 0 222 0.210 2 540 502 0.57 0434 0404 0.375 0.351 0327 0305 0103 OS OS OSLOSOO 0.460 064 031 0361 0333 285 256 0 29 02302180 204 191 179 168 066 0614 0463 0422 36 0352 322 0295 0.270 021 0.227 208 0191 0175 0.162 0.14 0.17 0.125 0.116 0107 0.24 0. 23 0.23 0.225 0 209 194 180 167 155 14 134 D OS OS775 0625 30 31 0.47 0.6 1 0.397 016 0119 02 2 0 1 0 1 11 0 1 0.257 0231 208 0601 530 49 415 135 13 12 103 104 DO 17 16 036 0 290 258 229 204 07 505 2 15 137 0124 0.112 0.1020.092 0083 0076 0069 0 16 15 10 0100116 0104 093 04 ONS OOGB 0061 0 055 029 023 022 0205 1 041 0417 0.162 315 275 279 209 1 1 41 111 10 1 099 089 078 11 1 5344584 069 0062 055 0049 0.064 0 0 0 30292 0252 218 11 0 0 0 057 051 05 00 0035 05130430171 031702100231 16 14 123 TOT 0 6 170 16 125 100 000 DOO DOG DOGO 0081 071 062 0054 0047 0042 0.036 003 0028 11675 16 331 377 312 14 16 18 0.116 1 2 153 130 111 000 DO 052 0045 0 20456 099 DO 034 00 005 0044 0038 0.032 0028 0.024 0.021 0.018 0.025 0.023 12 25 17 14 00 OOO OOST O 0 14 14 DOST 07 35 0.24 0 06 05 027 0023 000 0017 0014 04 1641611O 34 2 037 2031 0.026 0022 0.019 0016 0.014 0.012 2 O O 10 1 12 O 1 O 0 O O 2113112000 OTE DO 040 000 DO 027 0.002 DIE DOIS0012 000 000 000 000 24 0 300 3020157 158 O 0.5 0 0 0 022 018 015 0 0 0 022 0018 0015 0013 0.011 0.000 0.007 013 011 0009 25 1525231 12 06 1 116 06 05 2014 000 000 00 00 0026 020 0.016 0013 0010 0.000 0.007 0.005 000S 0000 04 00 0. 00 0.00 1220 019 015 0.013 0010 0.00 0.007 0.000 0.005 1 6 201611 3 0 201 0 0 0.0 6 00 2 0 .116 000 000 101 0021 01 00 00 1 11 000 000 0005 DOOS 0004 0.00 0.00 0.02 0.018 0014 0011 0.00 4 004 003 0006 0.03 0 1 2 103 04 016 0.00 012 0.006 010 0.022 017 01 000 000 000 0005 004 003 002 005 0004 003 00 008 201 004 003 0026 0.030 001 002 0.000 000 006 0 005 004 003 002 0.002 2011 201 000 000 0.00 0.00 0.00 0.00 003 000 000 0.00 000 000 001 000 000 000 000 000 Q Search or type URL W EXHIBIT 13-2 1 4 5 6 7 9 10 11 12 13 14% 15% 16% 17% 10% 19% 20% 21% 22% 23% 24% 25% 09620020 093 092 0917 0009 01 . 0877 870 O O O O O 083 0825 20 813 806 O 300 183 188 1789 1750 1716 1713 1600 1668 1647 1626 1605 155 1.566 1547 1528 1.509 1492 1474 1457 1.400 2775 22 2673 204 2577 2531 267 2444 2402 2361 222 223 2246 2210 2174 2140 2106 2074 2042 2011 1981 1952 3630354630653387 3.312 324031703102 3037 294 2914 255 2798 2743 2600 260 2509 2540 24942448 2404 2362 3 452 42294212 4.100 393 3.890 1791 1606 3.605 3517 3431 352 3 274 1199 127 3058 2991 2926 2864 2.803 2.745 2689 35076 417 467 462 465 4231 4111 30 29 2784365 359 360 3410 3325 325 3167 1092 3000 2951 6025786 552 53 5206 501 4.868 4712 4564 4423 42884160 40393922 3.812 3.705 3.605 3.508 1416 3327 3242 3.161 67334636210 597574755 5335 516 7 4799 469 4487 43444 307 4078 29543837 2726 3619 3518 313329 79 5 15 534 5 75 5512 512 5126772 607 451 40 4160 401 905 70 1673 3566 1063 10 111 7722730 7024 6710 6.418 6145 539 5.650 426 5216 5.099 4833 46 4494 43394192 40543923 3.799 3682 3571 7 771 2 0355453 234 56290 466 12 385 38631479475357.161 5.814 592 6104518 56505.21 .197 48 47934611 4.439 278 127 385 3851 3725 327 6177 405 1902 176 1656 13 996948538 7904747 7.103 675064346122 5.3 14 553 2 575 276 5.583142 51184910 4715 4533 15 362 203 4053 3912 370 256 6302 00 570 1.118 1010712108 5220 50 8 06176067151681166142 53 55 56 502 4876 675 4 4511 242 101 104 10 10 10 106 15 415 400 1859 1134 17 201715312250227712065579 52220675 5 52 5 516 1 4554 2.65 110 8 10 009172876330171020 11 19 31341208511158 10 13696049 167 68 51 54 523 50 48124608 419 420 4080 1929 42190 1910 010 77 55116500 635 42 423 4097 10 214012021 16 10 2213163 202 116 117 10017 0 612 5 5 116 115 127695 11 292 152 121 3163 55 1255010529707 3 02 130 1970 7 71 1 1 1 1 1 1 1 141211 12 13 14 15 1 * OS 6 514 S . 2006 47 4520 43284151 215 21540 201 . 5 SS50159 10051755517 5235497947464543394160305 169 one – – C Q Search or type URL a search or X IT

 

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BUSI-320 Corporate Finance-2013 Fall-B assignment- 4

1. Problem 8-1 Cash discount [LO1]

Compute the cost of not taking the following cash discounts.

(a)

3/14, net 55. (Use 360 days in a year. Round your intermediate calculations and final answers to 2 decimal places . Omit the "%" sign in your response.)

Cost of lost discount

%

(b)

2/18, net 55. (Use 360 days in a year. Round your intermediate calculations and final answers to 2 decimal places. Omit the "%" sign in your response.)

Cost of lost discount

%

(c)

3/19, net 55. (Use 360 days in a year. Round your intermediate calculations and final answers to 2 decimal places. Omit the "%" sign in your response.)

Cost of lost discount

%

(d)

4/15, net 150. (Use 360 days in a year. Round your intermediate calculations and final answers to 2 decimal places. Omit the "%" sign in your response.)

Cost of lost discount

%

2.Problem 8-2 Cash discount decision [LO1]

Regis Clothiers can borrow from its bank at 17 percent to take a cash discount. The terms of the cash discount are 3/19, net 45.

(a)

Compute the cost of not taking the cash discount. (Use 360 days in a year. Round your intermediate calculations and final answers to 2 decimal places. Omit the "%" sign in your response.)

Cost of not taking a cash discount

(b)

Should the firm borrow the funds?

3.Problem 8-5 Effective rate of interest [LO2]

A pawn shop will lend $111 for 11 days at a cost of $13 interest.

What is the effective rate of interest (Use 360 days in a year. Round your intermediate calculations and final answers to 2 decimal places. Omit the "%" sign in your response.)

Effective rate

4.Problem 8-7 Effective rate on discounted loan [LO2]

Mary Ott is going to borrow $9,800 for 75 days and pay $171 interest.

What is the effective rate of interest if the loan is discounted? (Use 360 days in a year. Round your intermediate calculations and final answers to 2 decimal places. Omit the "%" sign in your response.)

Effective rate on discounted loan

5.Problem 8-8 Prime vs. LIBOR [LO2]

Dr. Ruth is going to borrow $1,800 to help write a book. The loan is for one year and the money can either be borrowed at the prime rate or the LIBOR rate. Assume the prime rate is 8 percent and LIBOR 2.5 percent less. Also assume there will be a $55 transaction fee with LIBOR (this amount must be added to the interest cost with LIBOR).

Which loan has the lower effective interest cost (Use 360 days in a year.)

6.Problem 8-9 Foreign borrowing [LO2]

Gulliver Travel Agencies thinks interest rates in Europe are low. The firm borrows euros at 9 percent for one year. During this time period the dollar falls 16 percent against the euro.

What is the effective interest rate on the loan for one year (Omit the "%" sign in your response.)

Effective interest rate

%

7.Problem 8-10 Dollar cost of a loan [LO2]

Talmud Book Company borrows $19,900 for 45 days at 10 percent interest.

What is the dollar cost of the loan (Use 360 days in a year. Do not round intermediate calculations. Round your answer to 2 decimal places. Omit the "$" sign in your response.)

Cost of loan

$

8.Problem 8-11 Net credit position [LO1]

McGriff Dog Food Company normally takes 23 days to pay for average daily credit purchases of $9,380. Its average daily sales are $10,070, and it collects accounts in 30 days.

(a)

What is its net credit position (Omit the "$" sign in your response.)

Net credit position

$

(b-1)

If the firm extends its average payment period from 23 days to 35 days (and all else remains the same), what is the firm's new net credit position (Negative amount should be indicated by a minus sign. Omit the "$" sign in your response.)

Net credit position

$

(b-2)

Has it improved its cash flow?

9.Problem 8-13 Compensating balances [LO2]

Computer Graphics Company needs $288,960 in funds for a project.

(a)

With a compensating balance requirement of 16 percent, how much will the firm need to borrow (Omit the "$" sign in your response.)

Amount to be borrowed

$

(b)

Given your answer to part a and a stated interest rate of 10 percent on the total amount borrowed, what is the effective rate on the $288,960 actually being used (Round your answer to 2 decimal places. Omit the "%" sign in your response.)

Effective rate

10.Problem 8-14 Compensating balances and installment loans [LO2]

The Dade Company is borrowing $395,000 for one year and paying $32,200 in interest to Miami National Bank. The bank requires a 22 percent compensating balance. The principal refers to funds the firm can effectively utilize (Amount borrowed Compensating balance).

(a)

What is the effective rate of interest (Use 360 days in a year. Omit the "%" sign in your response.)

Effective rate

%

(b)

What would be the effective rate if the company were required to make 12 monthly payments to retire the loan (Round your answer to 2 decimal places. Omit the "%" sign in your response.)

Effective rate

%

 

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