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1. Workman Company purchases a machine on January 2, 2012 Need more help! 1. Workman Company purchases a machine on January 2, 2012 for $800,000. The machine has an estimated useful life of 5 years and a salvage value of $100,000. Depreciation was computed by the 150% declining-balance method. What is the amount of accumulated depreciation at the end of December 31, 2013? 2. Elliott Corp. failed to record accrued salaries for 2011, $2,000; 2012, $2,100; and 2013, $3,900. What is the amount of the overstatement or understatement of Retained Earnings at December 31, 2014? Students also viewed these Organizational Behavior questions Elliott AG failed to record accrued salaries for 2017, €2,000; 2018, €2,100; Elliott AG failed to record accrued salaries for 2017, €2,000; 2018, €2,100; and 2019, €3,900. What is the amount of the overstatement or understatement of Retained Earnings at December 31, 2020? Elliott Corp. failed to record accrued salaries for 2013, $2,000; 2014, $2,100, Elliott Corp. failed to record accrued salaries for 2013, $2,000; 2014, $2,100, and 2015, $3,900. What is the amount of the overstatement or understatement of Retained Earnings at December 31, 2016? An intangible asset with an estimated useful life of 30 years was An intangible asset with an estimated useful life of 30 years was acquired on January 1, 2002, for $540,000. On January 1, 2012, a review was made of intangible assets and their expected service lives, and it was determined that this asset had an estimated useful life of 30 more years from the date… An intangible asset with an estimated useful life of 30 years was An intangible asset with an estimated useful life of 30 years was acquired on January 1, 2009, for $540,000. On January 1, 2019, a review was made of intangible assets and their expected service lives, and it was determined that this asset had an estimated useful life of 30 more years from the date… A firm purchases machinery, which has an estimated useful life of 10 A firm purchases machinery, which has an estimated useful life of 10 years and no salvage value , for $48,000 at the beginning of the accounting period. What is the adjusting entry for depreciation at the end of one month if the firm uses the straight-line method of depreciation? What do you think of Facebook’s new revenue stream model? Will it What do you think of Facebook’s new revenue stream model? Will it work? Design a relational database schema for a database application of your choice. Design a relational database schema for a database application of your choice. a. Declare your…… … number of queries in SQL that are needed by your database application.c. Based on your expected use of the database, choose some attributes that should have indexes specified on them.d…. Zarin Printing Company is considering the acquisition of Freiman Press at a Zarin Printing Company is considering the acquisition of Freiman Press at a cash price of $60,000……. … ahead with the merger? Explain your answer.c. If the firm could purchase a press that would provide slightly better quality and $26,000 annual cash inflow for 10 years for a price of… 1) Draw graphs (or create tables) for a writer and a holder 1) Draw graphs (or create tables) for a writer and a holder on a September call option on IBM stock with exercise price of $350. 2) Draw graphs (or create tables) for a writer and a holder on a September put on IBM with exercise price $30. What facets of Amazon’s operations allow it to create and control quality, What facets of Amazon’s operations allow it to create and control quality, both as a manufacturing organization and as a service organization? What facets of its operations allow Amazon to control productivity (again, both as a manufacturing organization and as a service organization)? Give two or three examples of ways in which Amazon’s operations contribute to high productivity. If the activity level is 33,850, what is the cost of this If the activity level is 33,850, what is the cost of this activity? DATA GIVEN: constant 4,378 Standard error of Y estimate 912 R square 0.9183 No. of observations 12 Degrees of freedom 10 Coefficient(s) 2.35 Standard error of coefficient(s) 0.437525 Discuss the legal and ethical issues surrounding Solyndra, the California based solar Discuss the legal and ethical issues surrounding Solyndra, the California based solar panel manufacturer. Incorporate two to three specific laws or ethical codes that apply to the situation. Darlene’s Diner accepts American Express® credit cards from its customers. Darlene’s is Darlene’s Diner accepts American Express® credit cards from its customers. Darlene’s is closed on…… … amounted to $3,500. On June 15, Darlene’s received $3,360 from American Express as payment for the credit card receipts. Prepare the necessary journal entries on June 12 and June 15. As a… 1. Of the 10 psychological phenomena introduced in Chapter 1, identify which 1. Of the 10 psychological phenomena introduced in Chapter 1, identify which ones apply to the minicase, and give reasons to support your answer.2. The Times article notes that three days after the ACP awarded a $158 million contract to the Spanish firm that manufactures the tugboats, the son of the canal administrator joined the law firm representing the tugboat manufacturer. Discuss whether such a relationship presents any potential conflicts of interest.3. The U.S. Army Corps of Engineers maintains locks and dams on U.S. waterways, and engages consultants to analyze the kinds of issues described in the minicase. One of these consultants points out that even if it is below standard, concrete might last a hundred years because it continues to gain compressive strength and generally the concrete is not heavily loaded.28 He also notes that the problem with locks and dams on such canals is not so much the concrete, but the steel gates that open and close once or twice an hour over the course of decades. The associated changes from tension to compression tend to create long-term problems, an issue which surfaced at the locks in Sault Ste. Marie, Michigan and posed a major threat to the U.S. economy. 29 In this respect, lock gates can become serious maintenance problems, and can take several months to repair or replace. In mentioning lock gates, the Times article points out that the gates in the original canal weigh several hundred tons and are finely balanced, but mentions little more than this. Discuss whether, by saying only what it did about the locks and nothing more, the Times article reflects any of the psychological phenomena described in Chapter 1. In one of the world’s greatest engineering feats, the United States built the Panama Canal. The project took 10 years and was completed in August 1914. The United States operated the waterway for the remainder of the twentieth century, but a treaty between the United States and Panama resulted in the Panama Canal Authority (ACP) assuming command of the waterway. This they did at the end of 1999. Over the course of the twentieth century, the volume of world shipping grew greatly, and with it the volume of traffic through the Panama Canal. Notably, ship sizes also grew, to the point where the largest container ships were too big to traverse the waterway. Partly out of fear that its canal would become obsolete, the ACP made the decision to build new locks that would handle the larger container ships. In 2007 they put out a request for proposal (RFP), soliciting bids for the project. The lowest bid came from a consortium called Grupo Unidos por el Canal that was led by the Spanish firm Sacyr Vallehermoso. The consortium’s members included firms from Panama, Belgium, and Italy. Their bid, $3.1 billion, was approximately $1 billion lower than the next lowest bid. Notably, the other bidders included Bechtel, one of the most experienced engineering and construction firms in the world. In accepting the consortium’s bid in July 2009, the ACP set a goal of completing the project in time for the 100-year anniversary of the original canal. However, the consortium missed the August 2014 deadline, and the first container ship passed through the new locks in June 2016.The New York Times documented a series of problems between 2009 and 2016.26 The problems involved leaks in concrete, insufficient water to support large ships in the canal, a shift from stable locomotives for guiding ships to less stable tugboats, insufficient margin for error from a new lock design that was too narrow, the identification of earthquake faults beneath the canal, and a cost overrun whereby $3.1 billion rose to $5.25 billion. Below is a capsule summary of the main points in coverage by the Times. The locks are made from concrete and reinforcing steel bars, and the consortium chose low-quality ingredients for the concrete. According to a 2010 confidential analysis from the firm Hill International, which was commissioned by the consortium’s insurer, the consortium’s budget for concrete was 71 percent smaller than that of the next lowest bidder. Moreover, the raw material for concrete, known as aggregate, was excavated from the Pacific side of the canal, and generally regarded as being of questionable quality for making concrete. It was for that reason that Bechtel, in preparing its bid, had planned to import aggregate. During the testing phase in 2015, cracks emerged in the concrete lining the lock walls, and water rushed through the cracks, requiring the insertion of additional steel reinforcing bars. The Times quoted one concrete expert who monitored the situation for his criticism of the as trial-and-error, the ACP described itself…. Risks that firms face can be categorized in many ways. Define the Risks that firms face can be categorized in many ways. Define the following types of risk: (1) speculative risks; (2) pure risks; (3) demand risks; (4) input risks; (5) financial risks; (6) property risks; (7) personnel risks; (8) environmental risks; (9) liability risks; and (10) insurable risks MINI CASE Assume that you have just been hired as a financial analyst by Tennessee Sunshine Inc., a mid-sized Tennessee company that specializes in creating exotic sauces from imported fruits and vegetables. The firm’s CEO, Bill Stooksbury, recently returned from an industry corporate executive conference in San Francisco, and one of the sessions he attended was on the pressing need for smaller companies to institute corporate risk management programs. Since no one at Tennessee Sunshine is familiar with the basics of derivatives and corporate risk management, Stooksbury has asked you to prepare a brief report that the firm’s executives could use to gain at least a cursory understanding of the topics. To begin, you gathered some outside materials on derivatives and corporate risk management and used these materials to draft a list of pertinent questions that need to be answered. In fact, one possible approach to the paper is to use a question-and-answer format. Now that the questions have been drafted, you have to develop the answers. Executive salaries have been shown to be more closely correlated to the Executive salaries have been shown to be more closely correlated to the size of the firm than to its profitability. If a firm’s board of directors is controlled by management rather than outside directors, this might result in the firm’s retaining more earnings than can be justified from the stockholders’ point of view. Discuss those statements, being sure (a) To discuss the interrelationships among cost of capital, investment opportunities, and new investment and(b) To explain the implied relationship between dividend policy and stock prices. Given the following business scenario, create a Crow’s Foot ERD using a Given the following business scenario, create a Crow’s Foot ERD using a specialization hierarchy if appropriate.Tiny Hospital keeps information on patients and hospital rooms. The system assigns each patient a patient ID number. In addition, the patient’s name and date of birth are recorded. Some patients are resident patients (they spend at least one night in the hospital) and others are outpatients (they are treated and released). Resident patients are assigned to a room. Each room is identified by a room number. The system also stores the room type (private or semiprivate), and room fee. Over time, each room will have many patients that stay in it. Each resident patient will stay in only one room. Every room must have had a patient, and every resident patient must have a room. Financial decisions made by users often depend on one financial statement more Financial decisions made by users often depend on one financial statement more than the others. Consider each of the following independent, hypothetical situations: 1. The South Face Inc. is considering extending credit to a new customer. The credit terms would require the customer to pay within 30 days of receiving goods. 2. An investor is considering purchasing the common shares of Orbite Online, Inc. The investor plans on holding the investment for at least five years. 3. Caissed’ Économie Base Montréal is thinking about extending a loan to a small company. The company would be required to make interest payments at the end of each month for three years, and to repay the loan at the end of the third year. 4. The chief financial officer of Tech Toy Limited is trying to determine whether the company is generating enough cash to increase the amount of dividends paid to shareholders in this, and future, years. He needs to be sure that Tech Toy will still have enough cash to expand operations when needed. Instructions (a) Identify the key user(s) in each situation and determine whether they are internal or external users. (b) State whether the user(s) you identified in (a) would be most interested in the income statement, statement of financial position, or statement of cash flows to make their decision. Choose only one financial statement in each case, and briefly give reasons for your choice.