explain and answer all the equation in couple of sentences per question (not topic ) FASB and Standard Setting 1.Describe the role of the Financial Accounting Standards Board. 2. Describe the prima

 explain and answer all the equation in couple of sentences per question (not topic )

FASB and Standard Setting

1.Describe the role of the Financial Accounting Standards Board.

2. Describe the primary purpose of financial reporting.

Accrual Accounting

1.List the components of an external financial report.

2. Define accruals and deferrals and give examples of each.

Financial Accounting Standards Codification

1.Describe the goals and purpose of the Codification.

2. Identify the main areas of the Codification.

Conceptual Framework of Financial Reporting by Business Enterprises

1.Describe the objective of financial reporting.

2. Describe the qualitative characteristics of accounting information.

Assumption and Accounting Principles

1.List and describe the assumptions in the conceptual framework.

2. List and describe the principles in the conceptual framework.

Constraint and Present Value

1. List and describe the constraints in the conceptual framework.

2. Describe how cash flow and present value are used in accounting measurements.

Fair Value Framework

1. Define “fair value” for accounting purposes.

2. Describe the individual components of the fair value definition and how each component impacts the application of the definition.

Inputs and Hierarchy

1.Distinguish between observable and unobservable inputs in determining fair value.

2. Describe the three levels of the fair value hierarchy and give examples of each.

Disclosure Requirements

1 Describe significant disclosures required for assets, liabilities, and equity items measured at fair value on a recurring basis.

2. Describe significant disclosures required for assets, liabilities, and equity items measured at fair value on a nonrecurring basis.

Balance Sheet

Identify the measurement bases used to measure the items on the Balance Sheet.

2. Distinguish between a current and noncurrent asset or liability.

Income Statement

1.List and define the components of the Income Statement.

2. Identify the difference between economic income and accounting income.

Statement of Comprehensive Income

1.Define “comprehensive income.”

2.List the components of other comprehensive income.

Statement of Changes in Equity

1.Identify the components included in the Statement of Owners’ Equity.

2.Construct a Statement of Owners’ Equity

Statement of Cash Flows -Sources and Uses of Cash

1.Describe the purpose of a Statement of Cash Flows.

2.Define and identify cash equivalents and restricted cash.

Operating, Investing, and Financing Activities

1.Distinguish what items are included in cash flows from operations using the direct method.

2. Distinguish what items are included in cash flows from investing activities.

Operating Cash Flows – Indirect Method

1.    Construct the operating section on the Statement of Cash Flows using the indirect method.

2.    Evaluate the similarities and differences in the Statement of Cash Flows under the direct and indirect methods.

Show more 

I need a reply below discussion post The reply must be at least 200 words. Do not just say “good job” or “I learned something from your post.” Replies are not a cheering exercise. Instead, your replie

I need a reply below discussion post

The reply must be at least 200 words. Do not just say “good job” or “I learned something from your post.” Replies are not a cheering exercise. Instead, your replies must be substantial, reflecting what you learned from reading the post, offering an extension, or correcting a mistake. Use what you learned in researching for your post (or knowledge gained from other classes or personal experience) to either supplement or critique the post you are writing about. Each reply must incorporate at least 1 scholarly citation in APA 7th ed. format. Any sources cited must have been published within the last five years. Acceptable sources include Lexis/Nexis, HeinOnline, SSRN, Findlaw, Jurist, etc., as well as your textbook or Bible).

In Leonard v. PepsiCo, the court ruled that the commercial was not an offer to enter into a contract. PepsiCo released a commercial that featured consumers obtaining “Pepsi Points” by purchasing their product. These accumulated points could be cashed in for rewards and prizes such as sunglasses, t-shirts, etc. These rewards were able to be selected out of a catalog that PepsiCo provided to their consumers. At the end of the commercial, Pepsi shows an adolescent arriving at school in a Harrier Jet that could be obtained for 7,000,000 Pepsi Points. Even though this was shown in the commercial as a reward, a Harrier Jet was not included in the catalog.

According to the textbook, “Generally speaking, advertisements for the sale of goods at specified prices are not considered to be offers. Rather, they are treated as being invitations to offer or negotiate. (Langvardt et al., p. 370).” How I interpret this is that the consumer can make an offer to the seller to purchase or exchange a good. With that being said, there is no commitment to sell in the PepsiCo commercial. With PepsiCo offering rewards for purchasing and using their product, there is a different type of contract to be looked at. Advertisements that offer rewards are usually treated as unilateral contracts. By breaking the commercial down into sections, we can observe that there isn’t a specific enough item to form a commitment to sell. In the commercial, PepsiCo isn’t guaranteeing that any of their consumers will be awarded a Harrier Jet for 7,000,000 Pepsi Points. Where a unilateral contract would come into play, is if PepsiCo would set a date or other specific commitment to sell one Harrier Jet. Rather, this is an invitation to offer or negotiate, and not considered a contract.

There was no objective standard of the intent in the advertisement. According to PepsiCo, the commercial was intended to humor their consumers, and not cause a reasonable person to think that they would be offering planes to them. The commercial as a whole had exaggerated and fanaticized many aspects of a teenager’s life. From the unrealistic nature of the commercial, it is obvious to many viewers that the Harrier Jet was an overstatement. As mentioned before, the Harrier Jet was not included in the catalog of items to choose from.

Finally, the contract did not satisfy the statute of frauds, which states, “a contract for the sale of goods for the price of $500 or more is not enforceable by way of action or defense unless there is some writing sufficient to indicate that a contract for sale has been made between the parties and signed by the party against whom enforcement is sought or by his authorized agent or broker. (Leonard v. Pepsico, Inc., 88 F. Supp. 2d 116, 1999).” A Harrier Jets market price is $23 million; therefore, a statute of fraud would need to be satisfied. PepsiCo didn’t have any evidence or written documents with the parties involves, and so, it was not a contract.

After researching the Leonard v. PepsiCo case, I would agree with the judge’s ruling. The commercial that PepsiCo released was not a valid contract, but instead an advertisement. I personally don’t think that a Christian worldview affects my reasoning on this topic.

When investing we should only choose those securitlies with the lowest risk to lower the risk of our portfolio. Is this statement correct or incorrect? explain. Timing the Market for investing will ensure making big returns? Correct or incorrect? explain.

When investing we should only choose those securitlies with the lowest risk to lower the risk of our portfolio. Is this statement correct or incorrect? explain.

Timing the Market for investing will ensure making big returns? Correct or incorrect? explain.

The Balloon, Inc. Company issued 10% bonds, dated January 1, with a face amount of $80 million on January 1, 2021. The bonds mature on December 31, 2030 (10 years). For bonds of similar risk and matur

The Balloon, Inc. Company issued 10% bonds, dated January 1, with a face amount of $80 million on January 1, 2021. The bonds mature on December 31, 2030 (10 years). For bonds of similar risk and maturity, the market yield is 12%. Interest is paid semiannually on June 30 and December 31.(FV of $1 (Links to an external site.), PV of $1 (Links to an external site.), FVA of $1 (Links to an external site.), PVA of $1 (Links to an external site.), FVAD of $1 (Links to an external site.) and PVAD of $1 (Links to an external site.))

Required:1.

Determine the price of the bonds at January 1, 2021.

2) Prepare the journal entry to record their issuance by Balloon, Inc. (the bond) issuer on January 1, 2021, interest on June 30, 2021 and interest on December 31, 2021 (at the effective rate).

3) Prepare amortization table IN EXCEL

use the files attached also provide explanation

Please complete the following assignments IN EXCEL (show each assignment on a different tab): Problem 1: 1) Kitchen Co., purchased as a long-term investment $80 million of 8% bonds, dated January

Please complete the following assignments IN EXCEL (show each assignment on a different tab):

Problem 1:

1)     Kitchen Co., purchased as a long-term investment $80 million of 8% bonds, dated January 1, on January 1, 2021. Management has the positive intent and ability to hold the bonds until maturity. For bonds of similar risk and maturity the market yield was 10%. The price paid for the bonds was $66 million. Interest is received semiannually on June 30 and December 31.

Required:

a.

Prepare the journal entry to record Bay Path’s Best investment on January 1, 2017.

b.

Prepare the journal entry by Bay Path’s Best to record interest on June 30, 2017 (at the effective rate).

c.

Prepare the journal entry by Bay Path’s Best to record interest on December 31, 2017 (at the effective rate).

  1. At what amount will Bay Path’s Best report its investment in the December 31, 2017, balance sheet?

Problem 2:

Bay Path’s Best, Inc., purchased as a long-term investment $80 million of 8% bonds, dated January 1, on January 1, 2017. Management intends to have the investment available for sale when circumstances warrant. For bonds of similar risk and maturity the market yield was 10%. The price paid for the bonds was $66 million. Interest is received semiannually on June 30 and December 31. Due to changing market conditions, the fair value of the bonds at December 31, 2017, was $70 million.

Required:1. to 3.

Prepare the relevant journal entries on the respective dates (record the interest at the effective rate).

At what amount will Bay Path’s Best report its investment in the December 31, 2017, balance sheet?

Prepare the entry necessary to achieve this reporting objective.

Problem 3:

Bay Path’s Best, Inc., purchased as a short-term investment $80 million of 8% bonds, dated January 1, on January 1, 2017. Management intends to include the investment in a short-term, active trading portfolio. For bonds of similar risk and maturity the market yield was 10%. The price paid for the bonds was $66 million. Interest is received semiannually on June 30 and December 31. Due to changing market conditions, the fair value of the bonds at December 31, 2017, was $70 million.

Required:1. to 3.

Prepare the relevant journal entries on the respective dates (record the interest at the effective rate).

At what amount will Bay Path’s Best report its investment in the December 31, 2017, balance sheet?

Prepare any entry necessary to achieve this reporting objective.

A. Has Costco become more or less efficient over time? B. How it has financed its growth? Organize your analysis as Common size analysis, Sustainable growth models, and benchmarking ratio (industry b

A. Has Costco become more or less efficient over time?

B. How it has financed its growth? Organize your analysis as Common size analysis, Sustainable growth models, and benchmarking ratio (industry benchmark).

Happy Trails, Inc., is a popular family resort just outside Yellowstone National Park. S ummer is resort’s busy season, but guests typically pay a deposit at least six months in advance to guara their

Happy Trails, Inc., is a popular family resort just outside Yellowstone National Park. S ummer isresort’s busy season, but guests typically pay a deposit at least six months in advance to guaratheir reservations.The resort is currently seeking new investment capital in order to expand operations. The mprofitable Happy Trails appears to be, the more interest it will generate from potential invesEd Grimm, an accountant employed by the resort, has been asked by his boss to include $2 milof unearned guest deposits in the computation of income for the current year. Ed explained toboss that because these deposits had not yet been earned they should be reported in the balasheet as liabilities, not in the income statement as revenue. Ed argued that reporting guest depoas revenue would inflate the current year’s income and may mislead investors.Ed’s boss then demanded that he include $2 million of unearned guest deposits in the comption of income or be fired. He then told Ed in an assuring tone, “Ed, you will never be held respsible for misleading potential investors because you are just following my orders.”