1) Cash in the "Governmental Activities" column in the Statement of Net Position is related to Cash in the Governmental Funds Balance Sheet through a reconciliation process. The reconciliation involves adjusting the cash reported on the government-wide financial statement to arrive at the cash reported on the governmental funds balance sheet, or vice versa.
The reconciliation is necessary because the government-wide financial statement presents financial information for all governmental activities on an accrual basis, while the governmental funds balance sheet presents financial information on a modified accrual basis. The modified accrual basis recognizes revenues when they become measurable and available, and recognizes expenditures when there is a legal claim to the resources.
To reconcile the two, adjustments are made to the cash reported on the government-wide financial statement to reflect items that are not included in the governmental funds balance sheet, such as noncurrent liabilities and long-term assets. Similarly, adjustments are made to the cash reported on the governmental funds balance sheet to exclude items that are not relevant to the modified accrual basis, such as long-term assets and liabilities.
2) The total assets in the governmental activities' column of the government-wide Statement of Net Position may not equal the total assets in the Balance Sheet for Governmental Funds due to several reasons:
- Noncurrent assets: The governmental activities column includes noncurrent assets like capital assets, which are not included in the governmental funds balance sheet. These assets are typically acquired through long-term financing arrangements or capital projects and are not available for current spending.
- Internal service funds: The government-wide financial statement may include assets held in internal service funds, which are not reported in the governmental funds balance sheet. Internal service funds are used to account for activities that provide services to other departments or agencies within the government.
- Restricted assets: The government-wide financial statement may include assets that are legally restricted or designated for specific purposes, which are not reported in the governmental funds balance sheet. These assets may have limitations on their use or may be held for specific programs or projects.
3) The total liabilities in the governmental activities' column of the government-wide Statement of Net Position may not equal the total liabilities in the Balance Sheet for Governmental Funds due to several reasons:
- Noncurrent liabilities: The governmental activities column includes noncurrent liabilities like long-term debt, which are not included in the governmental funds balance sheet. These liabilities represent borrowings or obligations that extend beyond the current fiscal period.
- Internal service funds: The government-wide financial statement may include liabilities associated with internal service funds, which are not reported in the governmental funds balance sheet. These liabilities are typically related to the services provided by internal service funds to other departments or agencies.
- Restricted liabilities: The government-wide financial statement may include liabilities that are legally restricted or designated for specific purposes, which are not reported in the governmental funds balance sheet. These liabilities may be subject to certain conditions or restrictions imposed by external parties or governing bodies.
It is important to note that the reconciliation between the government-wide financial statement and the governmental funds balance sheet is necessary to ensure the accurate representation of the financial position and activities of the government.
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Cook 5ecurny Systems has a $37,500 line of credit, which charges an annial percentage rate of prime rate plut 4%. The starting balance on October i nas 59,500 On October 4 they made a payment of \$ $,000. On Octeber 13 the butiness boriowed 42,300
4
and on October 19 they berewed $4,200,3 the current pnime rake is 6\%, what is the new balance (in 4) ? (keund your answer to the nearest cent.)
The new balance is $106,450.
To calculate the new balance, we need to consider the transactions that occurred and the interest charges.
1. Starting balance on October 1: $59,500
2. Payment made on October 4: -$1,000 (deducted from the balance)
3. Borrowing on October 13: +$42,300 (added to the balance)
4. Borrowing on October 19: +$4,200 (added to the balance)
To calculate the interest charges, we first need to determine the prime rate plus 4%. The current prime rate is 6%, so the effective annual interest rate is 6% + 4% = 10%.
Now, let's calculate the interest charges for each borrowing transaction:
1. For the borrowing on October 13: $42,300 * 10% = $4,230
2. For the borrowing on October 19: $4,200 * 10% = $420
Next, let's calculate the total interest charges:
Total interest charges = $4,230 + $420 = $4,650
Finally, let's calculate the new balance:
New balance = Starting balance - Payment + Borrowings + Interest charges
New balance = $59,500 - $1,000 + $42,300 + $4,650 = $106,450
Therefore, the new balance is $106,450.
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Blake starts an IRA (Individual Retirement Account) at the age of 26 to save for retirement. He deposits $350 each month. Upon retirement at the age of 65, his retirement savings is $690,851.38. Determine the amount of money Blake deposited over the length of the investment and how much he made in interest upon retirement For Answer How to enter your answer екеу Keyboard Shor Total Deposited: VES
To determine the amount of money Blake deposited over the length of the investment, we can calculate the total amount by multiplying the monthly deposit ($350) by the number of months in the investment period. Since Blake started the IRA at the age of 26 and retired at the age of 65, the investment period is 65 - 26 = 39 years.
To find the number of months, we multiply the number of years by 12: 39 years * 12 months/year = 468 months.
Now, we can calculate the total deposited amount: $350 * 468 months = $163,800.
Next, to find how much Blake made in interest upon retirement, we subtract the total deposited amount from the retirement savings: $690,851.38 - $163,800 = $527,051.38.
Therefore, Blake deposited a total of $163,800 over the length of the investment, and he made $527,051.38 in interest upon retirement.
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Biz partnership allows partner Aziz to sell his $150,000 equity in the partnership to Tariq. Tariq pays Aziz $127,500. Record the partnership journal entry for the
sale of Aziz's interest to Tarig.
The gain is credited to the Gain on Sale of Aziz's interest account.
Biz partnership allows partner Aziz to sell his $150,000 equity in the partnership to Tariq, let's record the partnership journal entry for the sale of Aziz's interest to Tariq.
Accounts Debit Credit
Cash 127,500
Aziz's Capital 150,000
Gain on Sale of Aziz's interest 22,500
The cash account is debited since the company received cash from Tariq. Aziz's capital account is credited since he is selling his interest in the company. There is a gain of $22,500 since Aziz's equity is sold for $127,500.
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Key aspects of the impact of the coronavirus on the New Zealand economy and the various policy responses to it, such as monetary, fiscal, employment policies, and even the lockdown.
The COVID-19 pandemic has had significant impacts on the New Zealand economy, leading to various policy responses from the government. Here are key aspects of the impact and the policy measures implemented:
Economic Contraction: The pandemic resulted in a contraction of economic activity in New Zealand. Border closures, restrictions, and reduced consumer spending affected various sectors such as tourism, hospitality, retail, and international education.
Unemployment: The pandemic led to a rise in unemployment as businesses faced financial difficulties and had to downsize or close down. Job losses were particularly significant in industries heavily reliant on international tourism.
Policy Responses:
a) Monetary Policy: The Reserve Bank of New Zealand (RBNZ) implemented monetary policy measures to support the economy. These included reducing the official cash rate (OCR) to historic lows, providing liquidity support to banks, and introducing a Large Scale Asset Purchase program to lower long-term interest rates.
b) Fiscal Policy: The government introduced significant fiscal measures to support businesses, workers, and households. These included wage subsidies, business grants, tax relief measures, and funding for infrastructure projects to stimulate economic activity.
c) Employment Policies: The government implemented measures to protect jobs and support workers, including the wage subsidy scheme, which aimed to prevent layoffs and assist businesses in retaining employees during the crisis.
d) Lockdown Measures: New Zealand implemented strict lockdown measures to contain the spread of the virus. This involved closing borders, implementing stay-at-home orders, and restricting non-essential businesses and activities.
Successful Suppression of the Virus: New Zealand's early and strict response to the pandemic, including the implementation of a nationwide lockdown, helped suppress the spread of the virus effectively. This enabled the country to control the outbreak and reduce the impact on public health.
Resilience and Recovery: New Zealand's economy has shown resilience and started to recover as restrictions were gradually lifted. The government has emphasized initiatives such as the Tourism Recovery Package, investment in infrastructure, and support for sectors like agriculture, construction, and renewable energy to stimulate economic growth.
It's important to note that the situation and policy responses are dynamic, and specific measures may have evolved since my knowledge cutoff in September 2021. For the most up-to-date and detailed information, it is recommended to refer to official government sources, economic reports, and news outlets that cover New Zealand's response to the COVID-19 pandemic.
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Instructions: 1. All questions have to be answered using Microsoft Excel. 2. Create a single workbook with a separate worksheet for each question. 3. When you are done, save the workbook in the follow
First, carefully read each question and understand what is being asked. Identify the relevant data and formulas that will be needed to answer the question.
Next, open a new Excel workbook and create a separate worksheet for each question. Label each worksheet with the corresponding question number.
Input the necessary data into each worksheet, making sure to organize it in a clear and readable format. Use appropriate headings, labels, and formatting to make the data easier to understand.
Then, use Excel formulas and functions to perform any calculations required to answer the question. Make sure to double-check all formulas for accuracy and use appropriate cell references to ensure that they update correctly if the data changes.
Finally, write a brief explanation of your calculations and results in a separate cell or cells. This will help the reader understand how you arrived at your answer and verify that your calculations are correct.
Once you have completed all of the worksheets, save the workbook in the specified format and submit it according to the instructions provided by your instructor.
Remember to check your work for accuracy and completeness before submitting your final Excel workbook.
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Uber Technologies Inc. Issued $2 billion of bonds in October 2018. The total bond issuance included $500 million of five-year bonds with a 7. 5% coupon and $1. 5 billion of eight-year bonds with an 8% coupon. How would Uber’s financial statements be impacted by its $2 billion bond issuance? Would you have bought the bonds if you could? Why or why not?
Uber’s financial statements be impacted by its $2 billion bond issuance in the following ways:
1. Balance Sheet
2. Income Statement
3. Cash Flow Statement
As for whether or not to buy the bonds, it would depend on various factors such as an individual's risk tolerance, investment goals, and analysis of Uber's financial health.
When Uber issued $2 billion of bonds in October 2018, it would impact the company's financial statements in the following ways:
1. Balance Sheet: The bond issuance would increase the liabilities on Uber's balance sheet by $2 billion. This would be recorded as long-term debt, reflecting the company's obligation to repay the bondholders.
2. Income Statement: The interest expense associated with the bonds would be recorded on Uber's income statement. The interest expense would be calculated based on the coupon rates of the bonds ($500 million at 7.5% and $1.5 billion at 8%). This would result in a higher interest expense, which would decrease Uber's net income.
3. Cash Flow Statement: The bond issuance would not directly impact Uber's cash flow statement. However, the interest payments made to bondholders would be classified as operating cash outflows.
As for whether or not to buy the bonds, it would depend on various factors such as an individual's risk tolerance, investment goals, and analysis of Uber's financial health. The decision would require evaluating Uber's creditworthiness, potential risks associated with the bonds, and the expected return. It is recommended to consult with a financial advisor or conduct thorough research before making such investment decisions.
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Which of the following statement is FALSE?
a.
When managers initiate philanthropy, the Corporate Social Responsible act can decrease firm value.
b.
When customers pay more for high-priced fair-trade products, it can decrease firm value.
c.
A and B
d.
Only B
The false statement is option b. When customers pay more for high-priced fair-trade products.
It cannot decrease firm value because fair-trade products are typically associated with ethical and sustainable business practices, which can enhance a company's reputation and brand image.
Therefore, it is unlikely that such a practice would lead to a decrease in firm value. Option a is true in some cases, as research has shown that certain forms of philanthropy initiated by managers may not always have a positive impact on a company's financial performance.
Therefore, the correct answer is d. Only B.
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Two firms compete by choosing price. Their demand functions are
Q1 = 20 - P1 + P2
and
Q2 = 20 + P1 - P2
where P1 and P2 are the prices charged by each firm, respectively, and Q1 and Q2 are the resulting demands. Note that the demand for each good depends only on the difference in prices; if the two firms colluded and set the same price, they could make that price as high as they wanted, and earn infinite profits. Marginal costs are zero.
Suppose the two firms set their prices at the same time. Find the resulting Nash equilibrium. What price will each firm charge, how much will it sell, and what will its profit be? (Hint: Maximize the profit of each firm with respect to its price.)
Suppose Firm 1 sets its price first and then Firm 2 sets its price. What price will each firm charge, how much will it sell, and what will its profit be?
Suppose you are one of these firms and that there are three ways you could play the game: (i) Both firms set price at the same time; (ii) You set price first; or (iii) Your competitor sets price first. If you could choose among these options, which would you prefer? Explain why.
Each firm will produce 20 units at $20. The profit for each firm will be $400.
Firm 1 will charge $30 and sell 15 units; firm 2 will charge $25 and sell 25 units. The profit from firm 1 will be $450, and for firm 2 will be $625.
Option (iii) will be the best choice as it gives a higher profit.
Nash equilibrium: Both firms will charge $25, sell 15 units each, and earn a profit of $250 each.
In the Nash equilibrium, both firms will choose the price that maximizes their profit given the other firm's price. By setting the price at $25, both firms can maximize their profits.
If Firm 1 charges a higher price, Firm 2 will gain a competitive advantage and attract more customers, resulting in lower profits for Firm 1. Conversely, if Firm 1 charges a lower price, it risks losing customers to Firm 2, resulting in lower profits as well. Therefore, both firms have an incentive to set the price at $25, which is the point of equilibrium.
At this price, both firms will sell 15 units each. This quantity is determined by substituting $25 into the demand functions: Q1 = 20 - 25 + 25 = 15 and Q2 = 20 + 25 - 25 = 15.
As for the profits, each firm's profit can be calculated by multiplying the price by the quantity sold and subtracting the zero marginal cost. In this case, both firms will earn a profit of $250 each (Profit = ($25 * 15) - $0 = $375 - $0 = $250).
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Exercise 15-14 (Algo) Accounting for equity method investments LO P5 Listed below are a few events and transactions of Kodax Company. Year 1 January 2 Purchased 72, 83e shares of Grecco Company common stock for $566,600 cash. Grecco has 216 , 602 shares of corncn stock outstanding, and 1ts activities will be significantly influenced by Kodax. September 1 Grecco declared and paid a cash dividend of $1.10 per share. December 31 Grecco announced that net income for the year is $513,980. Year 2 June 1 Grecco declared and paid a cash dividend of $3.96 per share. December 31 Grecco announced that net Incone for the year is $745,400. December 31 Kodax sold 12,800 shares of Grecco for $125,θ00 cash. Prepare journal entries to record the above transactions and events of Kodax Company. (Do not round intermediate calculations and round your final answers to the nearest dollar amount.)
The journal entries to record the transactions and events of Kodax Company are as follows:
1. Year 1 January 2: Debit Investment in Grecco Company Common Stock for $566,600 and credit Cash for $566,600.
2. Year 1 September 1: Debit Cash Dividends Receivable for $79,780 and credit Investment in Grecco Company Common Stock for $79,780.
3. Year 1 December 31: No journal entry required since the announcement of net income doesn't affect the investment account.
4. Year 2 June 1: Debit Cash Dividends Receivable for $343,392 and credit Investment in Grecco Company Common Stock for $343,392.
5. Year 2 December 31: No journal entry required since the announcement of net income doesn't affect the investment account.
6. Year 2 December 31: Debit Cash for $125,000, Debit Loss on Sale of Investments for $7,600, and credit Investment in Grecco Company Common Stock for $132,600.
Kodax Company purchased 72,830 shares of Grecco Company common stock for $566,600 in cash. This transaction is recorded by debiting the Investment in Grecco Company Common Stock account and crediting the Cash account.Grecco Company declared and paid a cash dividend of $1.10 per share. Since Kodax owns 72,830 shares, the total dividend amount is $79,780. This transaction is recorded by debiting the Cash Dividends Receivable account and crediting the Investment in Grecco Company Common Stock account.No journal entry is required as the announcement of net income by Grecco Company doesn't directly impact the investment account.Grecco Company declared and paid a cash dividend of $3.96 per share. With Kodax owning 72,830 shares, the total dividend amount is $343,392. This transaction is recorded by debiting the Cash Dividends Receivable account and crediting the Investment in Grecco Company Common Stock account.Similar to step 3, the announcement of net income by Grecco Company doesn't affect the investment account.Kodax Company sold 12,800 shares of Grecco Company common stock for $125,000 in cash. The difference between the cash received and the book value of the shares sold results in a loss of $7,600. This transaction is recorded by debiting Cash for $125,000, debiting Loss on Sale of Investments for $7,600, and crediting the Investment in Grecco Company Common Stock for $132,600.Learn more about transactions
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How To Handle It When Delegation Becomes Disaster or desired results are not obtained?
Delegation is a common management practice used by organizations to divide duties and responsibilities among employees. However, there are instances when delegation becomes disastrous or the expected results are not achieved.
Here's how to handle it when delegation becomes disaster or desired results are not obtained:1. Identify the problemThe first step in handling delegation when it becomes disastrous is to identify the problem. Determine what went wrong and where the breakdown occurred. Once you have identified the problem, you can take appropriate measures to correct it.
2. Communicate with the person you delegated toIf the desired results are not obtained or delegation has become disastrous, it's important to communicate with the person to whom the task was delegated. This helps to understand why the task failed, how it can be corrected, and to prevent future occurrences. 3. Re-evaluate your delegation processIf you've experienced several instances where delegation has become a disaster, it might be time to re-evaluate your delegation process. Determine if you have been delegating to the right people, if you provided the necessary resources, and if the expectations were clear.4. Review the task and adjust goalsIf the task was not completed successfully, it's important to review it and adjust the goals to ensure they are realistic and attainable.5. Provide support and trainingIf the person to whom the task was delegated does not have the necessary skills or resources to complete the task, provide them with the necessary support and training. This helps them to build the skills required to execute the task successfully.6. Take corrective measuresIn case of a disaster, take corrective measures to prevent similar occurrences in the future. These measures could include changes in the delegation process, the provision of additional resources, or training for the team to build their skills.Finally, delegation is an effective tool for managing responsibilities and tasks. However, it's important to monitor it closely to ensure it's successful and produces the desired results.
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Big Rock Brewery currently rents a bottling machine for $50,000 per year, including all maintenance expenses. The company is considering purchasing a machine instead and is comparing two options:
a. Purchase the machine it is currently renting for $165,000. This machine will require $23,000 per year in ongoing maintenance expenses.
b. Purchase a new, more advanced machine for $255,000. This machine will require $16,000 per year in ongoing maintenance expenses and will lower bottling costs by $14,000 per year. Also, $39,000 will be spent upfront in training the new operators of the machine.
Suppose the appropriate discount rate is 8% per year and the machine is purchased today. Maintenance and bottling costs are paid at the end of each year, as is the rental of the machine. Assume also that the machines are subject to a CCA rate of 45% and there will be a negligible salvage value in ten year's time (the end of each machine's life). The marginal corporate tax rate is 40%. Should Big Rock Brewery continue to rent, purchase its current machine, or purchase the advanced machine?
To make this decision, calculate the NPV of the FCF associated with each alternative. (Note: the NPV will be negative, and represents the PV of the costs of the machine in each case.)
The NPV (rent the machine) is $___. (Round to the nearest dollar.)
The NPV (purchase the current machine) is $___. (Round to the nearest dollar.)
The NPV (purchase the advanced machine) is $___. (Round to the nearest dollar.)
Which of the following is the best choice?
A. Purchase the advanced machine.
B. Purchase the current machine.
C. Rent the current machine.
In the given problem, it is best to purchase the current machine because it has the lowest NPV. (Option B).
How to Solve for NPV?To find the optimal option, we must compute the net present value (NPV) of the free cash flows (FCF) associated with each alternative. The NPV is the present value of the costs and benefits of each option. Here's how we can compute the NPV for each alternative:
Rent the machine:
The annual rental fee is $50,000. We'll compute the NPV over a 10-year timeframe.
Year 1: $50,000 (starting rental cost)
Years 1-10: -$50,000 (year rental expense)
We calculate the NPV using an 8% discount rate as follows:
NPV (machine rental) = -50,000 + (-50,000) / (1 + 0.08)1 +... + (-50,000) / (1 + 0.08)10
Using this cash flow series, the NPV for renting the machine is roughly -$411,161.
acquire the present machine: The current equipment costs $165,000 to acquire and requires $23,000 in annual upkeep. We'll also look at the tax advantages of the capital cost allowance (CCA). We can calculate the tax benefit from depreciation because the CCA rate is 45%.
Year one: -$165,000 (buying price)
Years 1 to 10: -$23,000 (maintenance costs)
(CCA Rate) * (Depreciation) = Tax Shield
Depreciation = (Initial Cost) multiplied by (CCA Rate)
(0.45) * ($165,000) * (1 - 0.4) = $29,700 Tax Shield
Maintenance Expenses - Tax Shield = Net Maintenance Expenses
Net Maintenance Expenses = $23,000 - $29,700 = -$6,700
Using an 8% discount rate, we calculate the NPV as follows:
NPV (purchase the current machine) = -$165,000 + (-$6,700) / (1 + 0.08)^1 + ... + (-$6,700) / (1 + 0.08)^10
Calculating this series of cash flows, the NPV for purchasing the current machine is approximately -$77,996.
Purchase the advanced machine: The advanced machine costs $255,000 to purchase and requires $16,000 in annual upkeep. It also saves $14,000 per year on bottling expenditures. Furthermore, $39,000 is invested up front to train the new operators.
Year 1: -$255,000 (buying price) -$39,000 (training expense)
Years 1-10: -$16,000 (maintenance expenses) + $14,000 (bottling cost reduction)
We calculate the NPV using an 8% discount rate as follows:
NPV (advanced machine buy) = -$255,000 - $39,000 + (-$16,000 + $14,000) / (1 + 0.08)1 +... + (-$16,000 + $14,000) / (1 + 0.08)10
Using this cash flow series, the NPV for purchasing the upgraded equipment is roughly -$97,277.
Comparing the NPV values:
NPV (rent the machine): -$411,161
NPV (purchase the current machine): -$77,996
NPV (purchase the advanced machine): -$97,277
The best choice based on the NPV is to purchase the current machine (Option B) since it has the lowest NPV among the three alternatives.
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Your awigmest is to find a news article discussing water as a conservation issue-either water quantity of water quality, You may select your article from a tecuveper, news ตaymxine, of insenet news
One of the most critical issues that we face globally today is the conservation of water. Water conservation aims to ensure that we reduce our water wastage and use water wisely to preserve the resources that we have available to us.
The world's water resources have been stretched due to overuse, pollution, and climate change. We have limited freshwater resources available, and therefore, it's essential to conserve water to ensure that we have enough for future generations.
One recent article on water conservation issues discusses water quality as a conservation issue. The article highlights the impact that pollution is having on water quality, and how this is putting our environment and health at risk. Water quality has become a significant issue for many countries around the world, and it is one that must be addressed if we are to protect our freshwater resources.
The article argues that water pollution is caused by human activities, such as industrial and agricultural practices, urbanization, and improper waste disposal. The pollution of our waterways is having significant impacts on aquatic ecosystems, wildlife, and humans who depend on these water resources for drinking and other uses. Therefore, the article stresses the need to invest in measures to improve water quality through proper management of waste, conservation of wetlands, and other strategies.
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The question seems to be incomplete. The full question is:
Your assignment is to find a news article discussing water as a conservation issue—either waterquantity or water quality. You may select your article from a newspaper, news magazine, or internet news site.
The market values of Elian's ownership of stocks and their expected returns are given below. What is the expected return of his portfolio? Company Microsoft Walmart Exxon Mobil Market Value $50,000 $100,000 000'001$ Expected Retum %6 5% 10% 8.00% 7.80% 9.40% 8.50% 8.77%
The expected return of Elian's portfolio is approximately 9.391%.
To calculate the expected return of Elian's portfolio, we need to find the weighted average of the expected returns of each stock based on their market values.
Given:
Company Microsoft:
Market Value: $50,000
Expected Return: 6.00%
Company Walmart:
Market Value: $100,000
Expected Return: 5.00%
Company Exxon Mobil:
Market Value: $1,000,000
Expected Return: 10.00%
To calculate the weighted average expected return, we multiply each expected return by its corresponding market value, then sum the results.
Weighted Average Expected Return = (Microsoft Expected Return * Microsoft Market Value + Walmart Expected Return * Walmart Market Value + Exxon Mobil Expected Return * Exxon Mobil Market Value) / Total Market Value
Weighted Average Expected Return = (0.06 * $50,000 + 0.05 * $100,000 + 0.10 * $1,000,000) / ($50,000 + $100,000 + $1,000,000)
Weighted Average Expected Return = ($3,000 + $5,000 + $100,000) / $1,150,000
Weighted Average Expected Return = $108,000 / $1,150,000
Weighted Average Expected Return ≈ 0.09391 or 9.391% (rounded to two decimal places)
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Using the most recently available financial statements, fill in the following:
Company: Next Era Energy
Ticker: NEE
Sales in $ millions:
Pre-tax income in $ millions:
Effective tax rate:
Net Income in $ millions:
Net Income %:
Market Cap in $ millions
Stock price current USD:
PE Ratio:
EPS in $0.00:
ROA %:
ROE %:
Dividend per share:
Beta:
The NEE Sales in $ millions: 19,222 million, Pre-tax income in $ millions: 5,907 million, Effective tax rate: 17.23%, Net Income in $ millions: 4,408 million, Net Income %: 22.92%, Market Cap in $ millions: 166,985 million, Stock price current USD: $84.77, PE Ratio: 27.86, EPS in $0.00: 3.04, ROA %: 4.43%, ROE %: 10.53%, Dividend per share: $1.40, Beta: 0.22
Next Era Energy is a prominent clean energy corporation that provides services in power generating and utility areas. The company is listed as a Fortune 200 company, and it is traded on the NYSE with the ticker symbol "NEE".Using the most recently available financial statements, here are the data that you requested:Company: Next Era EnergyTicker:
NEE Sales in $ millions: 19,222 million
Pre-tax income in $ millions: 5,907 million
Effective tax rate: 17.23%
Net Income in $ millions: 4,408 million
Net Income %: 22.92%
Market Cap in $ millions: 166,985 million
Stock price current USD: $84.77
PE Ratio: 27.86
EPS in $0.00: 3.04
ROA %: 4.43%
ROE %: 10.53%
Dividend per share: $1.40
Beta: 0.22
NextEra Energy has a market capitalization of $166,985 million. The company's stock is presently trading at $84.77. As of today, NextEra Energy's Price-to-Earnings (PE) ratio is 27.86. Its earnings per share (EPS) stand at $3.04. The company's Return on Assets (ROA) is 4.43%.Its Return on Equity (ROE) is 10.53%. The company has a dividend per share of $1.40. Finally, the company's beta is 0.22.
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Define the speed based strategy for a sustainable competitive
advantage
b) Using the value chain framework, discuss how a firm can
improve on its value creation activities
using speed as a technique
By effectively integrating speed into these value creation activities, a firm can improve its overall efficiency, responsiveness, and customer satisfaction, ultimately gaining a sustainable competitive advantage.
A speed-based strategy for a sustainable competitive advantage refers to an approach that focuses on being faster and more responsive than competitors in delivering products or services. This strategy involves reducing the time it takes to develop, produce, and deliver offerings to customers, thus gaining a competitive edge.
Using the value chain framework, a firm can improve its value creation activities by integrating speed as a technique. Here's how:
1. Inbound Logistics: The firm can collaborate closely with suppliers to streamline the procurement process and minimize lead times. This can be achieved through effective communication, efficient inventory management, and using technology to track and expedite deliveries.
2. Operations: The firm can adopt lean manufacturing principles and implement process improvements to reduce cycle times. This includes eliminating bottlenecks, optimizing workflows, and using automation to increase production speed while maintaining quality.
3. Outbound Logistics: By leveraging technology, the firm can optimize its distribution network and enhance delivery speed. This can involve utilizing real-time tracking systems, partnering with reliable logistics providers, and implementing efficient order fulfillment processes.
4. Marketing and Sales: The firm can utilize digital marketing strategies to quickly reach customers and create awareness about its offerings. This includes leveraging social media, online advertising, and targeted marketing campaigns to generate leads and convert them into sales.
5. Service: The firm can focus on providing prompt and efficient customer service to enhance the overall customer experience. This involves investing in technology for effective complaint handling, quick resolution of issues, and personalized support.
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The Internal Revenue Service has claimed the mean number of times the average U.S. citizen has cheated on taxes in the last 10 years is 5.3 times with a standard deviation of 1.9. You believe that Missourians are more honest than the rest of the nation and that they cheat on their taxes less frequently than the average American. You collect a random sample of 64 tax-paying Missourians and find that the average number of times individuals in this sample have cheated on their taxes is 4.6. Do your data suggest that the number of times the average Missourian has cheated on his/her taxes is less from the number of times the average American has cheated? Use alpha = .01. Be sure to show and label all parts of your hypothesis test.
In this scenario, we want to determine if the data collected from a sample of tax-paying Missourians suggest that the average number of times they have cheated on their taxes is significantly lower ,
than the average number for the entire U.S. population. The mean number of times the average U.S. citizen has cheated on taxes in the last 10 years is claimed to be 5.3, with a standard deviation of 1.9. The sample of 64 tax-paying Missourians resulted in an average of 4.6 times cheating. We will conduct a hypothesis test with a significance level of 0.01 to evaluate if the data supports the claim.
To test our hypothesis, we will use a one-sample t-test. The null hypothesis (H₀) states that the average number of times Missourians cheat on their taxes is the same as the average for the entire U.S. population, which is 5.3. The alternative hypothesis (H₁) states that the average number of times Missourians cheat is less than 5.3.
Using the sample data and the given information, we calculate the test statistic. We compute the t-value by subtracting the claimed mean (5.3) from the sample mean (4.6), dividing it by the standard deviation of the population (1.9), and adjusting for the sample size (64). We compare the resulting t-value with the critical t-value at a significance level of 0.01, degrees of freedom (df) equal to the sample size minus 1 (63), and a one-tailed test.
If the calculated t-value is less than the critical t-value, we reject the null hypothesis and conclude that there is evidence to suggest that the average number of times Missourians cheat on their taxes is less than the average for the entire U.S. population.
If the calculated t-value is greater than or equal to the critical t-value, we fail to reject the null hypothesis, indicating that there is not enough evidence to support the claim that Missourians cheat less frequently on their taxes than the average American.
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A equity fund manager has a portfolio worth $100 million with a beta of 1.27. The current level of S&P 500 index is 2,650. The price of one- month S&P 500 futures contract is 2,680. One contract is on $250 times the index points. If this manager is concerned about the market risk over the next month and plans to use one- month futures contracts on the S&P 500 to hedge the risk. What position should the fund manager take to eliminate all exposure to the market over the next month?
To eliminate all exposure to the market over the next month, the fund manager should take a short position in S&P 500 futures contracts.
Given:
Portfolio value = $100 million
Beta of the portfolio = 1.27
Current level of S&P 500 index = 2,650
Price of one-month S&P 500 futures contract = 2,680
Contract multiplier = $250 times the index points
First, we need to calculate the number of futures contracts required to hedge the portfolio. The formula to calculate the number of contracts is:
Number of contracts = Portfolio value * Beta / (Contract multiplier * S&P 500 index level)
Number of contracts = $100,000,000 * 1.27 / ($250 * 2,650)
Number of contracts ≈ 152.08
Since we can only trade in whole contracts, the fund manager should take a short position of 152 S&P 500 futures contracts to eliminate all exposure to the market over the next month.
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The economic order quantity (EOQ) refers to the idedal quantity to a. sale b. purchase c. produce d. stock
The economic order quantity (EOQ) refers to the ideal quantity to purchase.
The economic order quantity (EOQ) is a concept in inventory management that determines the optimal quantity of goods or materials that a business should order or replenish at a given time. The objective of EOQ is to minimize inventory costs while ensuring that there is an adequate supply to meet demand.
The EOQ calculation takes into account factors such as ordering costs, holding or carrying costs, and the rate of demand. By finding the optimal order quantity, a company can strike a balance between the costs of holding excess inventory and the costs associated with frequent ordering or stockouts.
While the other options listed (sale, produce, and stock) are also important considerations in business operations, the primary focus of the EOQ is on determining the ideal quantity to purchase. By finding the right balance in purchasing quantities, businesses can optimize their inventory management, reduce costs, and ensure efficient supply chain operations.
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Differences in consumer spending tend to _____ vary differences in income. a. in proportion to b. not at all compared to c. more than d. less than
Differences in consumer spending tend to more than vary differences in income. Differences in consumer spending tend to more than vary differences in income. The correct answer is c. more than.
How consumers choose to spend their money depends not only on how much money they have but also on factors such as their interests, needs, and lifestyles. As a result, differences in consumer spending tend to more than vary differences in income. Let’s take the example of two people:
Person A earns $30,000 per year and
Person B earns $60,000 per year.
Despite the difference in income, Person A may spend more on rent and groceries and save less money than Person B, who may choose to spend more money on entertainment and travel. This is because they have different priorities and preferences. In conclusion, differences in consumer spending tend to more than vary differences in income.
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Exercise 15-7 Sales-type lease with no selling profit; lessor [LO15-2]
Edison Leasing leased high-tech electronic equipment to Manufacturers Southern on January 1, 2018. Edison purchased the equipment from International Machines at a cost of $113,515. (FV of $1, PV of $1, FVA of $1, PVA of $1, FVAD of $1 and PVAD of $1) (Use appropriate factor(s) from the tables provided.)
Related Information:
Lease term 2 years (8 quarterly periods)
Quarterly rental payments $15,700 at the beginning of each period
Economic life of asset 2 years
Fair value of asset $113,515
Implicit interest rate 12%
(Also lessee’s incremental borrowing rate)
Required:
Prepare a lease amortization schedule and appropriate entries for Edison Leasing from the beginning of the lease through January 1, 2019. Edison’s fiscal year ends December 31.
The lease Amortization Schedule for Edison Leasing is attached accordingly.
What is the explanation of the Schedule?The lease amortization schedule illustrates the gradual decrease in the asset's value over time due to principal payments.
The entries demonstrate that the cash received is allocated to reduce unearned interest revenue before reducing the lease receivable. Interest revenue is recognized throughout the lease duration using the effective interest method.
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Calculate the following ratios, using the financial statements given below. Make sure to show your calculations: Current Ratio
Total Debt Ratio
Times Interest Earned
Receivables Turnover
Days Sales in Receivables
Return on Assets.
Graphic Advertising, Inc.
2021 Income Statement
Sales $850,625
Cost of Goods Sold 520,379
Selling and Admin Exp 167,676
Depreciation 74,235
EBIT $88,335
Interest 25,630
EBT $62,705
Taxes 15,676
Net Income $47,029
Dividends $16,075
Addition to Retained Earnings 30,954
Graphic Advertising, Inc.
Balance Sheet as of December 31, 2021
Cash $18,961 Accounts Payable $11,271
Accounts Receivable 25,228 Notes Payable 18,624
Inventory 16,250 Current Liabilities $29,895
Current Assets $60,439 Long-term Debt $182,000
Net Fixed Assets $457,454 Owner's Equity $305,998
Total Assets $517,893 Total Liabilities and Owner Equity $517,893
Therefore, the return on assets ratio is 0.091. Please note that the calculations provided above are based on the given financial statement information.
To calculate the various ratios, we will use the information provided in the financial statements. Let's calculate each ratio step by step:
1. Current Ratio:
The current ratio is calculated by dividing current assets by current liabilities. Current assets = Cash + Accounts Receivable + Inventory = $18,961 + $25,228 + $16,250 = $60,439
Current liabilities = Current Liabilities = $29,895
Current Ratio = Current Assets / Current Liabilities = $60,439 / $29,895 = 2.02 Therefore, the current ratio is 2.02.
2. Total Debt Ratio:
The total debt ratio is calculated by dividing total debt (long-term debt + current liabilities) by total assets.
Total debt = Long-term Debt + Current Liabilities = $182,000 + $29,895 = $211,895
Total assets = Total Assets = $517,893
Total Debt Ratio = Total Debt / Total Assets = $211,895 / $517,893 = 0.409
Therefore, the total debt ratio is 0.409.
3. Times Interest Earned:
Times interest earned is calculated by dividing earnings before interest and taxes (EBIT) by the interest expense.
EBIT = $88,335
Interest Expense = $25,630
Times Interest Earned = EBIT / Interest Expense = $88,335 / $25,630 = 3.448
Therefore, the times interest earned ratio is 3.448.
4. Receivables Turnover:
Receivables turnover is calculated by dividing net credit sales by the average accounts receivable.
Net credit sales = Sales - Returns - Allowances = $850,625 - $0 - $0 = $850,625
Average accounts receivable = (Beginning accounts receivable + Ending accounts receivable) / 2
Beginning accounts receivable = Accounts Receivable = $25,228
Ending accounts receivable = Accounts Receivable = $25,228
Receivables Turnover = Net Credit Sales / Average Accounts Receivable = $850,625 / ($25,228 + $25,228) / 2 = $850,625 / $25,228 = 33.68
Therefore, the receivables turnover ratio is 33.68.
5. Days Sales in Receivables:
Days sales in receivables is calculated by dividing 365 days by the receivables turnover ratio.
Days Sales in Receivables = 365 days / Receivables Turnover Ratio = 365 days / 33.68 = 10.84 days
Therefore, the days sales in receivables is 10.84 days.
6. Return on Assets:
Return on assets is calculated by dividing net income by total assets.
Net income = Net Income = $47,029
Total assets = Total Assets = $517,893
Return on Assets = Net Income / Total Assets = $47,029 / $517,893 = 0.091
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Chandler Co.'s 5-year bonds yield 12.00%, and 5-year T-bonds yield 5.15%. The real risk-free rate is r* = 3.0%, the inflation premium for 5-year bonds is IP = 1.75%, the liquidity premium for Chandler's bonds is LP = 0.75% versus zero for T-bonds, and the maturity risk premium for all bonds is found with the formula MRP = (t − 1) × 0.1%, where t = number of years to maturity. What is the default risk premium (DRP) on Chandler's bonds?
The DRP represents the compensation investors require for the possibility of default by Chandler Co. The higher the DRP, the greater the perceived default risk. The default risk premium on Chandler Co.'s bonds is 6.85%.
To calculate the default risk premium (DRP) on Chandler Co.'s bonds, we need to consider the difference in yield between their bonds and risk-free Treasury bonds. The DRP compensates investors for the additional risk associated with Chandler Co.'s bonds compared to the risk-free investment.
The formula to calculate the DRP is: DRP = Yield on Chandler Co.'s bonds - Yield on risk-free Treasury bonds The yield on Chandler Co.'s bonds is given as 12.00%, and the yield on 5-year Treasury bonds is 5.15%. Therefore, substituting the values into the formula: DRP = 12.00% - 5.15% = 6.85%
Factors that influence the default risk premium include the financial strength of the issuer, credit ratings, market conditions, and economic stability.
Investors demand a higher yield to compensate for the risk of default. The DRP reflects the market's assessment of the creditworthiness of Chandler Co. compared to risk-free Treasury bonds. It serves as an indicator of the additional return investors require for taking on the default risk associated with Chandler Co.'s bonds.
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The purpose of the World Trade Organization is to provide low-interest loans to developing nations for improving transportation. monitor and enforce trade agreements. O provide medium-interest loans to developing nations for improving health. assist in smoothing the flow of money between nations. provide low-interest loans to developing nations for improving telecommunications.
The purpose of the World Trade Organization (WTO) is to monitor and enforce trade agreements.However, the primary mandate of the WTO remains focused on monitoring and enforcing trade agreements rather than providing loans for development purposes.
The main function of the WTO is to oversee and regulate international trade among its member countries. It provides a forum for negotiations and discussions on trade-related issues and works towards reducing trade barriers, promoting fair and transparent trade practices, and resolving trade disputes.
One of the key responsibilities of the WTO is to monitor and enforce trade agreements. This includes ensuring that member countries adhere to the rules and commitments they have made under various trade agreements, such as the General Agreement on Tariffs and Trade (GATT) and other WTO agreements. The WTO conducts regular reviews of member countries' trade policies and practices, and it has the authority to settle trade disputes through its dispute settlement mechanism.
Through its monitoring and enforcement activities, the WTO aims to create a more predictable and stable trading environment, providing confidence and security for businesses and promoting global economic growth. By promoting fair and rules-based trade, the WTO helps to facilitate the smooth flow of goods and services across borders and encourages countries to engage in mutually beneficial trade relationships.
While the WTO does not provide loans or directly finance specific development projects, it does collaborate with other international financial institutions, such as the World Bank and the International Monetary Fund (IMF), to support developing nations in areas related to trade capacity building and technical assistance. These institutions may provide financial assistance, including loans, to help developing countries improve various sectors such as transportation, health, and telecommunications.
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Explain how labor is divided among professionals involved in the of computer crime. Which role do you prefer and investigation why?
Cybercrime law identifies norms of respectable geste for information and communication technology( ICT) druggies; establishes socio-legal warrants for cybercrime; protects ICT druggies, in general, and mitigates and/ or prevents detriment to people, data, systems, services, and structure.
In particular; protects mortal rights; enables the disquisition and execution of crimes committed online( outside of traditional real- world settings); and facilitates cooperation between countries on cybercrime matters. Cybercrime law provides rules of conduct and norms of geste for the use of the Internet, computers, and related digital technologies, and the conduct of the public, government, and private associations; rules of substantiation and felonious procedure, and other felonious justice matters in cyberspace; and regulation to reduce threat and/ or alleviate the detriment done to individualities, associations, and structure should a cybercrime do. Consequently, cybercrime law includes substantial, procedural and preventative law.
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explain the purpose and value of integration. Next, (2) describe
the three types of integration (stystem, business, data). Finally,
(3) explain how the three types of integration relate to each
other.
Integration refers to the process of combining different systems, business functions, and data sources to create a unified and efficient operation. It aims to streamline processes, improve communication, and enhance decision-making by ensuring seamless flow of information. There are three types of integration: system integration, which focuses on integrating various software applications and hardware components; business integration, which aligns business processes and functions across departments or organizations; and data integration, which involves merging and consolidating data from different sources. These types of integration are interconnected and work together to achieve operational efficiency and data consistency.
Integration plays a crucial role in optimizing organizational processes and leveraging technology to achieve business objectives. By integrating systems, businesses can eliminate data silos, improve productivity, and enhance customer experience. System integration involves connecting and integrating different software applications and hardware components to enable data sharing, automation, and smooth workflows. It ensures that systems work together seamlessly, reducing duplication of efforts and improving efficiency.
Business integration focuses on aligning business processes, functions, and strategies across departments or even external partners. It involves standardizing procedures, sharing resources, and promoting collaboration to achieve common goals. Business integration helps break down organizational barriers, improve communication, and enhance decision-making by providing a holistic view of the business.
Data integration involves consolidating and merging data from various sources to create a unified and accurate view of information. It eliminates data inconsistencies, enhances data quality, and enables organizations to make informed decisions based on reliable and comprehensive data. Data integration ensures that data is accessible, reliable, and available in real-time, facilitating effective analysis and reporting.
The three types of integration are interconnected and complementary. System integration provides the technical foundation for business and data integration. Business integration relies on system integration to enable seamless collaboration and information exchange. Data integration relies on both system and business integration to access and consolidate data from multiple sources accurately. Together, these types of integration work in harmony to optimize business operations, streamline processes, and enable informed decision-making.
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$190,000 Alowance for Doubt and that 144,000 will be ch Aging Method On January 1, Hungryman Inc. has the following balances for accounts receivable and allowance for doubtfid accounts: Accounts Receivable $190,000 Allowance for Doubtful Accounts (a credit balance) 36,100 During the year, Hungryman had $1,000,000 of credit sales, collected $594,000 of accounts receivable, and wrote aff $33,200 of accounts receivable a colectible. At year end, Hungryman performs an aging of its rem and estimates that $44,000 will be uncollectible Required: 1. Calculate Hungryman's preadjustment balants receivable on December 31. 2. Calculate Hungryman's preadjustment balance in allowance for doubthd accounts on December 31. 3. Prepare the necessary adjusting entry for the year. If an amount box does not require an entry leave t 188
The preadjustment balance of accounts receivable on December 31 is $556,200 ($190,000 + $1,000,000 - $594,000 - $33,200). The preadjustment balance in the allowance for doubtful accounts on December 31 is $36,100. The necessary adjusting entry for the year is:
Debit: Bad Debts Expense $7,900
Credit: Allowance for Doubtful Accounts $7,900
The preadjustment balance of accounts receivable on December 31 is calculated by adding the beginning balance of $190,000 to the credit sales of $1,000,000 and subtracting the collections of $594,000 and write-offs of $33,200. This gives us a balance of $556,200.
The preadjustment balance in the allowance for doubtful accounts on December 31 remains the same at $36,100, as there were no adjustments made during the year.
To adjust for the estimated uncollectible accounts, an adjusting entry is needed. The entry will debit Bad Debts Expense for $7,900 and credit the Allowance for Doubtful Accounts for the same amount. This adjustment reflects the estimate of $44,000 in uncollectible accounts based on the aging method.
By making this adjusting entry, Hungryman Inc. recognizes the potential risk of non-payment from certain customers and ensures that the financial statements reflect a more accurate representation of the accounts receivable and the allowance for doubtful accounts.
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.After reading below, share your thoughts about the scandal and what you think the repercussions should be from the perspective of accounting. Remember to be respectful and cover the facts.
Parties charged: 24 doctors and owners of medical equipment companies
The U.S. Senate Committee on Aging recently presented its annual report on staggering elder financial abuse. Scammers continue to target this vulnerable population, according to a Jan. 16, 2019, Forbes article by Ted Knutson, Frauds Threatening Seniors With Jail Unless They Pay Proliferate As Elder Abuse Nears $3 Billion (Links to an external site.).
It appears that elder fraud continues to keep a target on its back — in April 2019, an international telemarketing network lured hundreds of thousands of elderly or disabled patients into a criminal scheme, according to U.S. prosecutors. (See Feds take down $1 billion Medicare fraud scheme in ‘Operation Brace Yourself,’ (Links to an external site.) by Adiel Kaplan, Jay Blackman, Tom Costello and Sarah Ploss, NBC News, April 9, 2019.)
According to the article, two dozen people, including doctors and owners of medical equipment companies, were charged in a more than $1 billion Medicare scam. Investigators uncovered a plot that targeted elderly and disabled people by setting them up with back, neck and knee braces they didn’t need. The scheme has been dubbed Operation Brace Yourself.
Prosecutors said the fraudsters laundered the ill-gotten gains through international shell companies and used them to buy exotic cars, yachts and luxury real estate in the U.S. and overseas. As part of the scheme, doctors were paid to prescribe braces to patients they had little-to-no relationships with. Doctors had brief conversations via phone calls or video conferences with patients they never met using call centers in the Philippines and throughout Latin America. As a result, personal information of hundreds of thousands of Medicare beneficiaries was compromised and could be used in future schemes, according to prosecutors in the NBC News article.
The scheme that targeted the elderly and disabled people by setting them up with back, neck and knee braces that they didn’t need, was uncovered by investigators who charged two dozen people, including doctors and owners of medical equipment companies, in more than a $1 billion Medicare scam.
The fraudsters laundered the ill-gotten gains through international shell companies and used them to buy luxury cars, yachts and real estate in the U.S. and overseas. They involved doctors, who were paid to prescribe braces to patients they had no relationships with and only had brief phone conversations or video conferences with.
They also compromised personal information of hundreds of thousands of Medicare beneficiaries which could be used in future schemes. According to the above information, this is a clear case of elder fraud and financial abuse of the elderly. The parties involved should be penalized and punished to prevent similar future events.
The charges should also be made public to alert other fraudsters and people who might want to engage in such acts that such behavior will not be tolerated. The doctors who were paid to prescribe braces to patients they had no relationship with, should have their licenses revoked or suspended and held accountable for their part in this fraudulent scheme.
Thus, the medical equipment companies should also be held accountable for their involvement in this fraudulent scheme by paying a penalty for their involvement in Medicare fraud.
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One last time, please consider a closed economy with the following information: - Economic investment =$4500 - Private savings =$3000 - Output (income) =$16,000 - Consumption =$11,000 This economy has no transfer payments; in other words, total taxes and "net taxes" are the same thing. Carefully following all numeric instructions, calculate this economy's taxes (T). Note that there are no transfer payments.
The economy's taxes would amount to $2000.
Taxes in India are divided into Direct and Indirect taxes. Direct taxes include Income Tax, Gift Tax, Capital gain Tax, etc. Whereas, Indirect taxes include Value-added Tax, Service Tax, Goods and Services Tax, Customs Duty, etc.
To calculate the taxes (T) in the given closed economy, we need to use the equation for saving:
S = Y - C - T,
where S is private savings, Y is output (income), C is consumption, and T is taxes.
Given information:
Economic investment (I) = $4500
Private savings (S) = $3000
Output (Y) = $16,000
Consumption (C) = $11,000
Rearranging the equation, we can solve for taxes (T):
T = Y - C - S
T = $16,000 - $11,000 - $3000
T = $2000
Therefore, the taxes (T) in this closed economy would amount to $2000.
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Which of the following is a type of strategy that coordinates multiple stakeholders who come together to cooperate on a common purpose …
a. Diversification strategy
b. Divestiture strategy
c. Balanced scorecard strategy
d. Vertical integration strategy
e. Ecosystem strategy
Ecosystem strategy is a type of strategy that coordinates multiple stakeholders who come together to cooperate on a common purpose.
Ecosystem strategy is a type of strategy that coordinates multiple stakeholders who come together to cooperate on a common purpose. An ecosystem strategy recognizes that no organization, even the most innovative and agile, can do it all alone. They must collaborate with other players, including suppliers, distributors, and even competitors, to deliver value to their customers.
To achieve a successful ecosystem strategy, a company must put their partners' interests first and place a significant emphasis on collaboration and communication to build trust and relationships between the stakeholders.The advantages of an ecosystem strategy include:Speed - ecosystem partners work together in real-time to respond to customer requirements.Innovation - diverse ecosystems offer fresh ideas and inventions to the team.
Reduced cost and risk - the company can decrease the cost and risk of implementing new ideas by partnering with other firms.
Ecosystem strategy, therefore, is essential for businesses that want to collaborate with other stakeholders to achieve a common goal. The strategy coordinates multiple stakeholders to work together, which enables the organization to respond more quickly to customer needs.
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Question Two Statement of Cash Flows (Indirect Method)
Blue Planet Company’s income statement and comparative balance sheets follow.
Blue Planet Company
Income Statement
For the Year Ended December 31, 2021
Sales $ 925,000
Cost of goods sold $ 510,000
Wages and other operating expenses 150,000
Depreciation expense 41,000
Patent amortization expense 8,000
Interest expense 15,000
Income tax expense 54,000
Loss on sale of equipment 4,000
Gain on sale of investments (5,000) 777,000
Net income $ 148,000
RAINBOW COMPANY
Balance Sheet
Dec. 31, 2021 Dec. 31, 2020
Assets
Cash and cash equivalents $ 62 ,000 $ 25,000
Accounts receivable 51,000 30,000
Inventory 97,000 77,000
Prepaid expenses 11,000 21,000
Investments 57,000
Land 195,000 100,000
Buildings 460,000 350,000
Accumulated depreciation, Buildings (92,000) (75,000)
Equipment 179,000 225,000
Accumulated depreciation, Equipment (42,000) (46,000)
Patents 54,000 32,000
Total assets $ 975,000 $ 796,000
Liabilities and Stockholders’ Equity
Accounts payable $ 23,000 $ 16,000
Interest payable 7,000 5,000
Accrued expenses 21,000 15,000
Income tax payable 7,000 10,000
Bonds payable 158,000 125,000
Preferred stock ($100 par value) 125,000 75,000
Common stock ($5 par value) 384,000 364,000
Capital surplus - Common 140,000 124,000
Retained earnings 150,000 62,000
Treasury stock (40,000) –
$ 975,000 $ 796,000
During 2021, the following transactions and events occurred in addition to the company’s usual business activities.
1. Sold investments costing $57,000 for $62,000.
2. Purchased land for cash.
3. Capitalized an expenditure made to improve the building.
4. Sold equipment for $14,000 cash that originally cost $46,000 and had $28,000 accumulated depreciation. This means the book value of the equipment sold was $46,000 – $28,000 = $18,000.
5. Issued bonds at face value for cash.
6. Acquired a patent with a fair value of $30,000 by issuing 300 shares of preferred stock at par value. Also issued an additional 200 shares for a cash price of $20,000.
7. Declared and paid a $60,000 cash dividend.
8. Issued 4,000 shares of common stock for cash at $9 per share.
9. Recorded depreciation of $17,000 on buildings and $24,000 on equipment.
Required
2021. Compute the change in cash and cash equivalents that occurred during 2021.
2022. Prepare a 2021 accounting statement of cash flows using the indirect method.
2023. Prepare a 2021 financial statement of cash flows. Hint: CF (A) = CF (B) + CF (S)
2021. Compute the change in cash and cash equivalents that occurred during 2021:During 2021, the following transactions and events occurred in addition to the company’s usual business activities
. 1. Sold investments costing $57,000 for $62,000.
2. Purchased land for cash.
3. Capitalized an expenditure made to improve the building.
4. Sold equipment for $14,000 cash that originally cost $46,000 and had $28,000 accumulated depreciation. This means the book value of the equipment sold was $46,000 – $28,000 = $18,000.
5. Issued bonds at face value for cash.
6. Acquired a patent with a fair value of $30,000 by issuing 300 shares of preferred stock at par value. Also issued an additional 200 shares for a cash price of $20,000.
7. Declared and paid a $60,000 cash dividend.
8. Issued 4,000 shares of common stock for cash at $9 per share.
9. Recorded depreciation of $17,000 on buildings and $24,000 on equipment.
Decrease in cash and cash equivalents = Increase in cash and cash equivalents -
$57,000 + $62,000 = $5,000 (Answer)2022.
Prepare a 2021 accounting statement of cash flows using the indirect method:
Statement of Cash Flows (Indirect Method) for the Year Ended December 31, 2021 Cash flow from operating activities Net Income $148,000 Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation expense of $41,000
Patent amortization expense of $8,000
Loss on sale of equipment $4,000
Gain on sale of investments $(5,000)
Changes in current assets and liabilities
: Accounts receivable $(21,000)
Inventory $(20,000)
Prepaid expenses $10,000
Accounts payable $7,000
Interest payable $2,000
Accrued expenses $6,000
Income tax payable $(3,000)
Net cash provided by operating activities $177,000
Cash flow from investing activities Purchase of land $(95,000)
Expenditure to improve buildings $(20,000)
Sale of equipment $14,000
Sale of investments $5,000
Acquisition of patent $30,000
Net cash used in investing activities $(66,000)
Cash flow from financing activities Issuance of bonds $33,000
Issuance of preferred stock $30,000
Issuance of common stock $36,000
Dividends paid $(60,000)
Net cash used in financing activities $(35,000)
Increase in cash and cash equivalents $76,000
Cash and cash equivalents, January 1, 2021, $25,000 Cash and cash equivalents, December 31, 2021, $101,0002023. Prepare a 2021 financial statement of cash flows. Hint: CF (A) = CF (B) + CF (S)
Blue Planet CompanyStatement of Cash FlowsFor the Year Ended December 31, 2021. Cash flows from operating activities net income $148,000. Adjustments to reconcile net income to net cash provided by operating activities: Depreciation of $41,000
Patent amortization of $8,000
Loss on sale of equipment $4,000
Gain on sale of investments ($5,000)
Increase in accounts receivable ($21,000)
Increase in inventory ($20,000)
Decrease in prepaid expenses by $10,000
Increase in accounts payable by $7,000
Increase in interest payable $2,000
Increase in accrued expenses by $6,000
Decrease in income tax payable ($3,000)
Net cash provided by operating activities $177,000
Cash flows from investing activities sale of investments $5,000
Sale of equipment $14,000
Purchase of land ($95,000)
Capital expenditure for buildings ($20,000)
Acquisition of patent ($30,000)
Net cash used in investing activities ($126,000)
Cash flows from financing activitiesIssuance of bonds $33,000
Issuance of preferred stock $30,000
Issuance of common stock $36,000
Dividends paid ($60,000)
Net cash used in financing activities ($35,000)
Net increase in cash and cash equivalents $16,000
Cash and cash equivalents at the beginning of the year $25,000
Cash and cash equivalents at the end of the year $41,000
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