Explain the major business units of Altria Group and, based on your understanding of this company.

[4/25, 1:05 PM] Sarah: #1 Altria Group, Inc. has more than 12 pages dedicated to describing contingent liabilities in the notes to recent financial statements. These pages include extensive descriptions of multiple contingent liabilities. Use the Internet and visit Altria’s website for your research. https://investor.altria.com/annual-report-proxy-statement-annual-meeting/default.aspxThe financial reports can be found at: Explain the major business units of Altria Group and, based on your understanding of this company, explain why would Altria Group require more than 12 pages of contingency disclosure. Initial Response should be at least 250 words and should include at least one reference (not our textbook) in APA format. The Peer Response should be at least 100 words and add value.
[4/25, 1:06 PM] Sarah: #2 Payroll accounting involves the use of government-supplied forms to account for payroll taxes. Three common forms are the W-2, Form 940, and Form 941. Explain the purpose of each of these forms. Research other payroll forms that firms must file, name one other form and explain the use of the form. Initial Response should be at least 250 words and should include at least one reference (not our textbook) in APA format. The Peer Response should be at least 50 words and add value.
[4/25, 1:06 PM] Sarah: #3 Tom Callahan has agreed to invest $600,000 into an LLC with Mike Bernard and Justin Wilson. Bernard and Wilson will not make monetary investments but will dedicate time and knowledge to the LLC. Bernard and Wilson have agreed that the net income of the LLC should be divided so that Callahan receives receive a 10% return on his capital investment before dividing remaining income equally among the partners. In addition, Callahan has suggested that a partnership (LLC) agreement be drafted so that all matters are settled by majority vote, with each partner having a one-third voting interest in the LLC. Bernard and Wilson do not believe a partnership (LLC) agreement is needed. If you were providing advice to the LLC, explain what you might suggest about drafting a written partnership (LLC) agreement. Is one needed? If so, what should it include? Initial Response should be at least 250 words and should include at least one reference (other than our textbook) in APA format. The Peer Response should be at least 100 words and add value.
[4/25, 1:06 PM] Sarah: #4 When a corporation declares a stock split, the number of shares of that corporation will increase but the par value will decline by a proportionate amount (i.e. a 3 for 1 stock split provides for one share to split into three, however the par will decline to 1/3 of its original value); therefore, market cap (total value of all shares of stock) remains the same. Existing shares split, but the underlying value remains the same. As the number of shares increases, market price per share also goes down. What are some reasons why a company would issue a stock split. Research one publicly traded company that has split their stock in the last year. Explain why the company chose to do so. Include a link to the article that shows your research. Initial Response should be at least 250 words. The Peer Response should be at least 100 words and add value.
[4/25, 1:07 PM] Sarah: #5 Cannara Capital Inc. is a holding company that utilizes long-term debt extensively to fund its operations. At December 31, the company reported total assets of $150 million, total debt of $105 million, and total equity of $100 million. In March, the company issued long-term bonds totalling $12 million to investors at par value. This was the largest issuance of debt ever made by the company, and it increased the company’s ratio of total debt to total equity by a significant amount. Just one week later, Cannara filed legal documentation in preparation for an additional $60 billion long-term bond issue. As a result of this filing, the price of the $12 billion in bonds that the company issued earlier dropped to 93 due to an increase in risk associated with the company’s debt. The investors who purchased bonds in the original issue were not informed of the company’s plans to issue additional debt so quickly.
Did Cannara Capital, Inc. act unethically in its decision not to advise its initial bond issuers of its immediate plans to issue more debt? Initial Response should be at least 250 words and should include at least one reference (other than our textbook) in APA format. The Peer Response should be at least 100 words and add value.
[4/25, 1:07 PM] Sarah: #6 Conlin Company needs funding to purchase a machine for its manufacturing and is considering issuing bonds payable or borrowing from a local bank in the form of an installment note. Explain the difference between an installment note and a bond payable and what advice you would provide to Conlin. Initial Response should be at least 250 words and should include at least one reference (other than our textbook) in APA format. The Peer Response should be at least 100 words and add value.
[4/25, 1:07 PM] Sarah: #7 On July 16, 1998, Ellis Corp. purchased 70 acres of land for $550,000. The land has been held for a future plant site until the current date, December 31, 2020. On December 18, 2020, MexoNick, Inc. purchased 20 acres of land for $3,000,000 to be used for a distribution site. The MexoNick land is located next to the Ellis Corp. land. Thus, both companies own nearly identical pieces of land. Explain the valuation of both parcels of land on the balance sheets of Ellis Corp. and MexoNick using U.S. GAAP and explain how fair value accounting aids comparability when evaluating these two companies. Initial Response should be at least 250 words and should include at least one reference (other than our textbook) in APA format. The Peer Response should be at least 100 words and add value.
[4/25, 1:08 PM] Sarah: #8 If an investor owns more than 50% of an investee, how is the investment treated on the investor’s financial statements? Provide an example of a company that has this type of an investment. What are some reasons for securing more than 50% of an investee? Initial Response should be at least 250 words and should include at least one reference in APA format. The Peer Response should be at least 100 words and add value.
[4/25, 1:08 PM] Sarah: #9 You are considering an investment in a new start-up company, Ram,Inc., an Internet service provider. A review of Ram’s financial statements reveals negative retained earnings. In addition, it appears as though the company has been running negative cash flow from operating activities since the company’s inception. How could a company be staying in business under these circumstance? Would this be a good investment? Initial Response should be at least 250 words and should include at least one reference (not from our textbook) in APA format. The Peer Response should be at least 100 words and add value.
[4/25, 1:08 PM] Sarah: #10 Review and analyze the Cash Flow Statement of two publicly traded companies in the same industry, i.e. Coca-Cola Company and Pepsico (do not use these companies). Explain how the two companies are similar and different when reviewing the operating, investing and financing activities. Initial Response should be at least 250 words and should include at least one reference (not from our textbook) in APA format. The Peer Response should be at least 100 words and add value.
[4/25, 1:08 PM] Sarah: #11 Assume that the President of Fordham, Inc. that only supported financing the future growth of the company through issuance of stock or resources generated from within the company. The President was opposed to issuing debt for expansion. What is your opinion of this approach? Initial Response should be at least 250 words and should include at least one reference (not from our textbook) in APA format. The Peer Response should be at least 100 words and add value.
[4/25, 1:08 PM] Sarah: #12vUnder U.S. GAAP, Extraordinary items are events and transactions that are distinguished by their unusual nature and by the infrequency of their occurrence. The criteria: a) Unusual nature—the underlying event or transaction should possess a high degree of abnormality and be of a type clearly unrelated to, or only incidentally related to, the ordinary and typical activities of the entity, taking into account the environment in which the entity operates. b) Infrequency of occurrence—the underlying event or transaction should be of a type that would not reasonably be expected to recur in the foreseeable future, taking into account the environment in which the entity operates. Explain whether the financial impact of COVID-19 can be considered an extraordinary event for financial reporting purposes. Initial Response should be at least 250 words and should include at least one reference (other than our textbook) in APA format. The Peer Response should be at least 100 words and add value.
[4/25, 1:08 PM] Sarah: #13 Name and describe three differences between financial and managerial accounting. Explain one purpose for each form of accounting. Do you believe that a company should utilize both types of accounting? Explain. Initial Response should be at least 250 words and should include at least one reference (other than our textbook) in APA format. The Peer Response should be at least 100 words and add value.
[4/25, 1:09 PM] Sarah: #14 Angelo’s Pizzeria provides company cars for delivery purposes. On his first day at the job, one of the drivers got into a fender-bender with a soda delivery truck! Angelo is determining whether he should repair the car or whether he should trade it in for a newer model. The car that was damaged is four years old and has 50,000 miles on it. How might the Angelo’s Pizzeria use managerial accounting information to decide whether to repair or replace the car? This question does require critical thinking, so think outside the lines of financial accounting. What non-quantitative factors should be considered. Initial Response should be at least 250 words and should include at least one reference (other than our textbook) in APA format. The Peer Response should be at least 100 words and add value.

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