img src=Imported_Resources/a tissues and integumentary syste…

img src=Imported_Resources/a tissues and integumentary system lab practical/f114g2_r.jpg alt= style=vertical-align: 0.0px; height=463 width=472 /br /br /span style=font-weight: bold;Figure 4.2br /br //spanspan style=font-style: italic;Using Figure 4.2, match the following:br /br /br //spanCardiac muscle. 1.

Xavier Industries owns 70% of Magneto Corporation’s common s…

Xavier Industries owns 70% of Magneto Corporation’s common stock. Both companies have an effective income tax rate of 40%. During 2038, Xavier reports separate operating income (after taxes) of $280,000 (excluding any income from Magneto) and Magneto reports net income of $90,000.  As of January 1, 2038, Xavier’s capital structure consists of 100,000 shares of $10 par value common stock and 1,000 shares of $100 par value 12% convertible preferred stock, convertible into 10,000 shares of Xavier’s common stock. On April 1, 2038, Xavier issued 10,000 shares of common stock for $20 per share. On September 1, 2038, Xavier purchased 7,500 shares of common stock on the open market as treasury stock, paying $17 per share. As of January 1, 2038, Magneto’s capital structure consists of 20,000 shares of $10 par value common stock and $100,000 par value, 10% of nonconvertible preferred stock. None of Magneto’s preferred stock is owned by Xavier. Magneto also has $300,000 of 9% convertible bonds (issued at par) outstanding, convertible into 9,600 shares of Magneto’s common stock. In addition, Magneto has stock options outstanding granting its officers to purchase 12,000 shares of Xavier’s common stock at $15 per share. No options were exercised in 2038. The average market price of Xavier’s common stock in 2038 was $25 per share and the market price at the end of the year was $29 per share. Required: Compute 2038 basic consolidated earnings per share. Round your final answer to the nearest cent. Be sure to show all of your work.   Compute 2038 diluted consolidated earnings per share. Round your final answer to the nearest cent. Be sure to show all of your work. Assume that all potentially dilutive securities are in fact dilutive (i.e. there is no need to check for antidilutive securities).

Phoenix Inc. acquired 70% ownership of Cyclops’s common stoc…

Phoenix Inc. acquired 70% ownership of Cyclops’s common stock for cash on January 1, 2049 at underlying book value. On that date, Phoenix also acquired 30% of Cyclops’s preferred stock at par value of $30,000. At the time of acquisition, Cyclops had 36,000 shares of $5 par value common stock, retained earnings of $300,000, and $100,000 of $10 par value 8% preferred stock. During 2049, Cyclops reported net income of $80,000 and declared common dividends of $15,000. Cyclops also paid the required preferred dividend. Required: Insert a table (use the formatting guide in the instructions as a guide) in the field below to prepare the worksheet entries needed to prepare the consolidated financial statements as of December 31, 2049.

Part C: Answer the following questions by identifying the co…

Part C: Answer the following questions by identifying the correct and complete label of the required adjustment to equalize your debits and credits. (1) Assume that after applying the applicable exchange rates under translation, your debits subtotal in the Dollars ($) column was $120,000 and the credits subtotal was $100,000. What is the label used when recording the required $20,000 adjustment? (2) Assume that after applying the applicable exchange rates under remeasurement, your debits subtotal in the Dollars ($) column was $120,000 and the credits subtotal was $100,000. What is the label used when recording the required $20,000 adjustment?

Part A: For this question, assume the pound is the functiona…

Part A: For this question, assume the pound is the functional currency. On January 1, 2058, Scarlet Witch Corp., a U.S. company, acquired all of the outstanding stock of Quicksilver PLC, a British company, at underlying book value of $350,000. Quicksilver’s trial balance on December 31, 2058, in pounds (£), is shown in parts (a) and (b) below.  The following additional information is available: Quicksilver uses the FIFO method for its inventory. The beginning inventory was acquired on January 1, 2058, and ending inventory was acquired on December 26, 2058. Purchases of £300,000 were made evenly throughout 2058. Quicksilver acquired all of its property, plant, and equipment on December 31, 2057, and uses straight-line depreciation. Quicksilver’s sales were made evenly throughout 2058, and its operating expenses were incurred evenly throughout 2058. The dividends were declared and paid on November 1, 2058. On December 31, 2057, retained earnings in U.S. dollars was $187,500 (applicable exchange rate of £1 = $1.25). Exchange rates were as follows: Required:  Complete the “Exchange Rate” column in the following schedule, indicating the applicable rate necessary to convert Quicksilver’s trial balance from British pounds into U.S. dollars. If any rate is a mixed rate, enter “Mixed” in the exchange rate column. For Cost of Goods Sold and Retained Earnings, calculate and enter the appropriate balances in U.S. Dollars. No other balances need to be calculated. Quicksilver PLC Trial Balance (December 31, 2058) Balance (pounds £) Exchange Rate Balance (Dollars $) Cash £70,000 Accounts Receivable (net) 100,000 Inventory 120,000 Property, Plant, and Equipment 330,000 Cost of Goods Sold 270,000 Operating Expenses 60,000 Depreciation Expense 30,000 Dividends Paid 10,000 TOTAL DEBITS £990,000 Accumulated Depreciation £120,000 Accounts Payable 110,000 Notes Payable 90,000 Common Stock 100,000 Retained Earnings 150,000 Sales 420,000 TOTAL CREDITS £990,000  

Jubilee Corporation acquired 80% ownership of Beast Company…

Jubilee Corporation acquired 80% ownership of Beast Company on January 1, 2046, at underlying book value. At that date, the fair value of the noncontrolling interest was equal to 20% of the book value of Beast Company. Jubilee and Beast paid dividends of $25,000 and $15,000, respectively, in 2048.  Consolidated balance sheets at January 1, 2048, and December 31, 2048, are as follows: The consolidated income statement for 2048 contained the following amounts: Additional information for 2048: Beast sold equipment with cost of $40,000 and that was 50% depreciated to Iceman, Inc., an unaffiliated party, for $30,000 cash. Jubilee purchased patents valued at $10,000 by issuing 2,000 shares of common stock. Other expenses on the income statement includes depreciation expense and amortization expense. Required: Prepare a complete consolidated statement of cash flows for 2048, using the indirect method for computing cash flows from operating activities. Calculate the following cash flows to be shown in the cash flows from operating activities section of the consolidated statement of cash flows for 2048 using the direct method. Assume that any inventory purchased is on account and that the Accounts Payable account is used to record purchases of inventory. List your answers in the following order. Cash received from customers Cash paid to suppliers Cash paid to employees Cash paid for interest Cash paid for other expenses