To prepare a bank reconciliation statement for Raceway Motor Sports Co. as of July 31, 20--, the following steps should be taken:
1. Calculate the balance per bank statement. This is the ending balance of the Cash account as per the bank statement, which is $3560.
2. Add any deposits in transit. In this case, the deposit of $565 recorded in the company journal but not the bank statement should be added to the balance per bank statement. This brings the total to $4125.
3. Subtract any outstanding checks. The debit memo of $85 for a customer's NSF cheque should be subtracted from the total, making it $4040.
4. Subtract any bank service charges. The bank service charges of $11.40 should be subtracted from the total, giving a balance of $4028.60.
5. Calculate the balance per books. This is the ending balance of the Cash account in the company ledger, which is $3651.40.
6. Calculate the reconciling amount. The reconciling amount is the difference between the balance per bank statement and the balance per books, which in this case is $377.20.
The resulting reconciliation statement for Raceway Motor Sports Co. as of July 31, 20-- is as follows:
Balance per Bank Statement: $3560.00
Add: Deposits in Transit: $565.00
Less: Outstanding Checks: ($85.00)
Less: Bank Service Charges: ($11.40)
Balance per Bank Statement: $4028.60
Balance per Books: $3651.40
Reconciling Amount: $377.20
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(0)1. How the socio-cultural dimension impact the overall business environment in a country? Can
you explain this by considering the COVID:19 issue in the context of Bangladesh?2. As a future manager, can you measure the future outlook of the business environment in
Bangladesh? Make your argumentative analysis with relevant examples.
1. The socio-cultural dimension of a country has a significant impact on the overall business environment. It includes factors such as the values, beliefs, attitudes, and lifestyles of the people in a society. 2. As a future manager, it is possible to measure the future outlook of the business environment in Bangladesh by analyzing various factors such as the economic, political, and technological environment.
1.The factors influence consumer behavior, which in turn affects the demand for goods and services. In the context of COVID-19 in Bangladesh, the socio-cultural dimension has had a significant impact on the business environment.
On the other hand, the demand for online shopping and home delivery services has increased, which has positively impacted businesses in these sectors.
2.For example, if the economy is growing and there is political stability, it is likely that the business environment will be favorable in the future. On the other hand, if there is economic instability and political unrest, the business environment may be unfavorable in the future.
Overall, by analyzing these factors and using relevant examples, a future manager can measure the future outlook of the business environment in Bangladesh.
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Gustav's best friend, Garfield, owns a lasagna factory. Garfield's financial skills are not very strong, so he asked Gustav to take a look at his financials. Here is the information Garfield provided to Gustav for 2019.
EBIT was $8028;
Depreciation was $2934;
Tax rate was 0.40
December 31, 2018
December 31, 2019
Current Operating Assets
$2940
$3528
Net Fixed Assets
$16560
$18840
Current Operating Liabilities
$2592
$2484
Compute the free cash flow for this company.
The free cash flow for Garfield's company in 2019 was $2774.8.
To compute the free cash flow for Garfield's company, we need to use the following formula:
Free cash flow = EBIT - Taxes + Depreciation - Change in Net Working Capital - Change in Net Fixed Assets
First, we need to calculate the taxes. We can do this by multiplying the EBIT by the tax rate:
Taxes = $8028 * 0.40 = $3211.2
Next, we need to calculate the change in net working capital. We can do this by subtracting the current operating assets and liabilities at the beginning of the year from the current operating assets and liabilities at the end of the year:
Change in Net Working Capital = ($3528 - $2940) - ($2484 - $2592) = $588 - (-$108) = $696
Finally, we need to calculate the change in net fixed assets. We can do this by subtracting the net fixed assets at the beginning of the year from the net fixed assets at the end of the year:
Change in Net Fixed Assets = $18840 - $16560 = $2280
Now we can plug all of these values into the formula to find the free cash flow:
Free cash flow = $8028 - $3211.2 + $2934 - $696 - $2280 = $2774.8
Therefore, the free cash flow for Garfield's company in 2019 was $2774.8.
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As a general matter, banks are high leverage and low margin entities. Their capital levels are generally in the area of what percentage of assets?
As a general matter, banks are high leverage and low margin entities. Their capital levels are generally in the area of percentage of 8% assets under Basel III.
Investors view a bank's net worth or equity value as being the difference between its assets and liabilities, or bank capital. The asset component of a bank's capital is made up of cash, bonds, and loans with interest for e.g., mortgages, letters of credit, and inter-bank loans. The liabilities portion of a bank's capital includes loan-loss reserves and any outstanding debt. The amount by which creditors would still be paid if a bank had to liquidate its assets is known as capital.
Tiers of regulatory bank capital are established by Basel III. They are based on a bank's subordination and its capacity to absorb losses, with a clear separation between capital instruments used when the bank is still solvent and those used after it declares bankruptcy. The book value of common shares, paid-in capital, and retained earnings less goodwill and any other intangibles make up common equity tier 1 (CET1). CET1 instruments must be of the highest subordination and lack maturity.
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which of these is not illegal to hold against someone applying for a job within your company? a. for revealing his plan to pray for half the daily lunch break b. no fork lift certification, but applying to operate a fork lift c. being qualified in every way except having deafness in one ear d. when she tells you that she just learned she is pregnant
Choose any five of seven Organizational Leadership Styles and compare and contrast them outlining their strengths and weaknesses.
The five Organizational Leadership Styles that I will compare and contrast are Autocratic, Democratic, Laissez-Faire, Transactional, and Transformational.
1. Autocratic Leadership: This style is characterized by a leader who makes all of the decisions and has complete control over their team. The strength of this style is that it can lead to quick and efficient decision-making. However, the weakness is that it can create a lack of motivation and creativity among team members.
2. Democratic Leadership: This style involves the leader including their team in the decision-making process. The strength of this style is that it can lead to higher levels of motivation and creativity among team members. However, the weakness is that it can lead to slower decision-making.
3. Laissez-Faire Leadership: This style involves the leader giving their team complete autonomy and allowing them to make their own decisions. The strength of this style is that it can lead to high levels of creativity and motivation among team members. However, the weakness is that it can lead to a lack of direction and accountability.
4. Transactional Leadership: This style is characterized by a leader who uses rewards and punishments to motivate their team. The strength of this style is that it can lead to high levels of productivity. However, the weakness is that it can lead to a lack of creativity and motivation among team members.
5. Transformational Leadership: This style involves the leader inspiring and motivating their team to achieve their goals. The strength of this style is that it can lead to high levels of motivation and creativity among team members. However, the weakness is that it can be difficult to implement and maintain.
In conclusion, each of these Organizational Leadership Styles has its own strengths and weaknesses. It is important for a leader to choose the style that best fits their team and the goals they are trying to achieve.
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Please don't copy and paste the current answers.You are asked to construct a marketing plan for a specific area within your responsibility. Identify measures for evaluating the success of the plan. Explain the process that is required in order to secure approval within your organisation. Discuss how the plan supports strategic objectives.(less than 300 words)
A marketing plan is an important aspect of an organization's overall strategy. To construct a successful marketing plan for a specific area within your responsibility, you should first identify the measures for evaluating the success of the plan. These measures could include metrics such as sales volume, customer satisfaction, and brand awareness.
Next, it is important to consider the process that is required in order to secure approval within your organization. This could involve presenting the marketing plan to key stakeholders, such as senior management, and incorporating their feedback into the plan.
Finally, it is important to consider how the marketing plan supports the organization's strategic objectives. This could involve identifying the key target markets for the organization and developing marketing strategies that align with these target markets.
Overall, a successful marketing plan requires careful consideration of the measures for evaluating success, the process for securing approval within the organization, and the ways in which the plan supports the organization's strategic objectives.
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Raw materials inventory has a march 31 balance of $80,000. Raw materials purchases in april are $500,000, and total factory payroll cost in april is $363,000. Actual overhead costs incurred in april are indirect materials, $50,000; indirect labor, $23,000; factory rent, $32,000; factory utilities, $19,000; and factory equipment depreciation, $51,000. Predetermined overhead rate is 50% of direct labor cost. Job 306 is sold for $635,000 cash in april 2. Determine the total cost assigned to each job as of april 30 (including the balances from march 31)
Work 306's total cost is calculated as follows: Direct material cost + (Direct labour cost x Predetermined overhead rate). This knowledge is intended to be helpful.
Calculation of April's Total Manufacturing Costs:
Inventory of raw materials, balance as of March 31: $80,000
Addition: $50000 spent on raw material procurement in April.
$580,000 worth of raw materials are readily available.
Direct labour expenses for April were $363,000 (from plant payroll).
$50,000 in indirect materials
$23,000 for indirect labour
$32,000 is the factory rent.
$19,000 for factory utilities
Depreciation on factory equipment: $51,000
$175,000 was spent in actual overhead in April.
April's total manufacturing expenditures:
Materials directly used: $580,00
$363,00 for direct labour
$175,000 in manufacturing overhead
Total: $1,118,000
Predetermined Overhead Rate Calculation
50% of the direct labour cost is the predetermined overhead rate.
April's direct labour expense was $363,000.
Fixed overhead rate: 50% times $363,000 equals $181,500
Expenses Assigned to Work 306:
the price of the raw materials:
Work 306's total cost is calculated as follows: Direct material cost + (Direct labour cost x Predetermined overhead rate). This knowledge is intended to be helpful.
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Your real estate group has narrowed down investment property to two locations. The return you need is 14%. After market analysts has researched market rents for comparable properties, calculate NPV and IRR for both properties. Which of the two properties would you chose? Property 1 Property 2 Year Cash Flow Year Cash Flow 0 -$1,000,000 0 -$975,000 1 250,000 1 -50,000 2 400,000 2 750,000 3 700,000 3 675,000 A. Property 1. NPV = $18,492 IRR = 14.79% B. Property 2 NPV = $13,847 IRR = 14.64% C. Property 2 NPV = $9,304 IRR = 14.53% D. Property 1 NPV = $13,847 IRR = 14.64%
Based on the calculations of net present value (NPV) and internal rate of return (IRR), the property with the highest NPV and highest IRR should be chosen. The correct answer is A. Property 1. NPV = $18,492 IRR = 14.79%.
To calculate the NPV and IRR for both properties, we can use the following formulas:
NPV = ∑ (Ct / (1 + r) ^ t) - C0
Where:
Ct = cash flow at time t
r = discount rate
C0 = initial investment
IRR = the discount rate that makes the NPV of an investment equal to zero
For Property 1:
[tex]NPV = (250,000 / (1 + 0.14) ^ 1) + (400,000 / (1 + 0.14) ^ 2) + (700,000 / (1 + 0.14) ^ 3) - 1,000,000[/tex]
NPV = $18,492
IRR = 14.79%
For Property 2:
[tex]NPV = (-50,000 / (1 + 0.14) ^ 1) + (750,000 / (1 + 0.14) ^ 2) + (675,000 / (1 + 0.14) ^ 3) - 975,000[/tex]
NPV = $13,847
IRR = 14.64%
Based on the calculations, Property 1 has a higher NPV and IRR, making it the better investment choice.
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A student has three options for summer work. He can mow lawns for $500 per week, work at the local soccer camp for $465 per week, or work at the local pool for $475 per week. Each of the three options would require approximately 24 hours of work per week. The student loves soccer and has chosen to work at the local soccer camp. What is the opportunity cost of this decision? $475 per week $25 per week $500 per week $35 per week
The student's decision to work at the local soccer camp provides an opportunity cost of $35 per week. Therefore, the correct answer to this question is option D: "$35 per week".
The opportunity cost of the student's decision to work at the local soccer camp is $500 per week. This is because the student could have earned $500 per week by mowing lawns, but instead chose to work at the soccer camp for $465 per week. The difference between the two options, $500 - $465 = $35, represents the opportunity cost of the decision. Therefore, the correct answer is D: "$35 per week".
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Discuss the main pricing/financial and public relations issues that mold claims in Texas homeowners insurance raised for insurance companies and how this could apply to other insurance issues such as storm surge.
In Texas, homeowners insurance rates have been on the rise in recent years, largely due to the increasing number of mold claims. Insurance companies must balance the cost of providing coverage against the potential financial burden of mold-related claims.
To do this, they must carefully consider the cost of coverage, the risk of a mold claim, and the potential financial and public relations repercussions of not providing adequate coverage.
For instance, insurance companies must consider the potential costs associated with a mold-related class action lawsuit, as well as the potential negative publicity that could arise if they fail to appropriately cover mold-related losses.
These same financial and public relations considerations apply to other insurance issues, such as storm surge. Insurance companies must carefully weigh the risk of an expensive storm surge claim against the cost of providing coverage. This helps ensure that insurers are providing fair and adequate coverage for the risks posed by storms and other natural disasters.
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identify two conflict of interests that credit rating agenciesface Should we continue to trust the ratings of credit ratingagencies?
Two conflicts of interest that credit rating agencies face are: Pressure from issuers,Pressure from investors.
1. Pressure from issuers: Credit rating agencies are paid by the issuers of securities to rate their products. This creates a conflict of interest because the agencies may feel pressure to give higher ratings to the issuers' products in order to maintain their business relationship.
2. Pressure from investors: Credit rating agencies also face pressure from investors, who rely on their ratings to make investment decisions. This creates a conflict of interest because the agencies may feel pressure to give higher ratings to securities in order to satisfy the investors' expectations.
In light of these conflicts of interest, it is important to be cautious when relying on the ratings of credit rating agencies. While they can be a useful tool for evaluating the creditworthiness of securities, they should not be the sole basis for investment decisions. Investors should also consider other factors, such as their own risk tolerance and the overall state of the economy, when making investment decisions.
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Financial data for Porcine Sun for the prior year is as follows:
Sales 16,000,000
Operating expenses 13,400,000
Operating income 2,600,000
Average operating assets 8,000,000
Required:
1. Compute the company’s margin, turnover, and return on investment for last year.
2. The Board of Directors of Porcine Sun have set a minimum required return of 25%. What was the company’s residual income last year?
3. An investment opportunity is available to Porcine Sun that would require an investment of $100,000 in new operating assets and earn earnings before interest and taxes of $30,000.
i. Would the management of Porcine Sun likely accept the investment opportunity if evaluated based on return on investment? Explain and show calculations.
ii. Would the management of Porcine Sun likely accept the investment opportunity if evaluated based on residual income? Show calculation and explain.
The residual income of the investment opportunity is positive, the management of Porcine Sun would likely accept the investment opportunity if evaluated based on residual income.
1. To calculate the company’s margin, turnover, and return on investment for last year, you can use the following equations:
Margin = Operating Income / Sales
Turnover = Sales / Average Operating Assets
Return on Investment = Operating Income / Average Operating Assets
Using the data provided, the company's margin = 2,600,000 / 16,000,000 = 0.1625, turnover = 16,000,000 / 8,000,000 = 2.0, and return on investment = 2,600,000 / 8,000,000 = 0.325.
2. To calculate the company’s residual income last year, you can use the following equation:
Residual Income = Operating Income - (Minimum Required Return x Average Operating Assets)
Using the data provided, the company's residual income = 2,600,000 - (0.25 x 8,000,000) = 500,000.
3.i. To calculate the return on investment for the new investment opportunity, you can use the following equation:
Return on Investment = Earnings Before Interest and Taxes / Investment
Using the data provided, the return on investment for the new investment opportunity = 30,000 / 100,000 = 0.3.
Since this return on investment does not exceed the minimum required return of 25%, the management of Porcine Sun would not likely accept the investment opportunity if evaluated based on return on investment.
3.ii. To calculate the residual income for the new investment opportunity, you can use the following equation:
Residual Income = Earnings Before Interest and Taxes - (Minimum Required Return x Investment)
Using the data provided, the residual income for the new investment opportunity = 30,000 - (0.25 x 100,000) = 5,000.
Since the residual income is positive, the management of Porcine Sun would likely accept the investment opportunity if evaluated based on residual income.
Since the ROI of the investment opportunity (30%) is lower than the company’s current ROI (32.5%), the management of Porcine Sun would likely not accept the investment opportunity if evaluated based on ROI.
= 5,000
Since the residual income of the investment opportunity is positive, the management of Porcine Sun would likely accept the investment opportunity if evaluated based on residual income.
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Why is audit quality so important? How can audit quality be
maintained in a much more complex world when the auditing
environment is rapidly being transformed into an environment
characterized by the
Audit quality is important because it ensures that financial statements are presented accurately and fairly. This helps investors, creditors, and other stakeholders make informed decisions about the company. In a rapidly changing and complex world, maintaining audit quality can be a challenge.
However, it can be achieved through several measures:
1. Maintaining independence: Auditors should remain independent and objective in their work. This means avoiding any conflicts of interest and not allowing personal or professional relationships to influence their judgment.
2. Continuing education: Auditors should stay up-to-date on the latest accounting and auditing standards, as well as any changes in the business environment.
3. Using technology: Auditors should use technology to improve their work processes and make their audits more efficient and effective.
4. Effective communication: Auditors should communicate clearly and effectively with all parties involved in the audit, including the company being audited, other auditors, and regulators.
5. Quality control: Auditing firms should have strong quality control systems in place to ensure that their audits are conducted in accordance with professional standards and regulations.
By following these measures, auditors can maintain audit quality and continue to provide reliable and accurate information to stakeholders.
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The stockholders' equity section of benton corporation's balance sheet as of december 31, 2015 is as follows:
For the stock dividends, the fair market value per share is used to calculate the number of additional shares issued. Hence, no journal entries.
Here are the journal entries required for each transaction:
Jan. 5:
Cash (532,000 shares x $8) $4,256,000
Common stock ($5 par value x 532,000 shares) 2,660,000
Paid-in capital in excess of par 1,596,000
No entry is required for the authorization of the shares.
Jan. 16:
Retained earnings 60,000
Dividends payable 60,000
Feb. 10:
Cash (40,000 shares x $13) $520,000
Common stock ($5 par value x 40,000 shares) 200,000
Paid-in capital in excess of par 320,000
No entry is required for the authorization of the shares.
Mar. 1:
Retained earnings 1,590,000
Common stock (180,000 shares x $5 par) 900,000
Paid-in capital in excess of par 690,000
Apr. 1:
No journal entry is required for a stock split.
July 1:
Retained earnings 1,530,000
Common stock (27,000 shares x $5 par) 135,000
Paid-in capital in excess of par 1,395,000
Aug. 1:
Retained earnings 60,000
Dividends payable 60,000
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The complete question is:
The stockholders' equity section of Benton Corporation's balance sheet as of December 31, 2014 is as follows:
Stockholders' Equity
Common stock, $5 par value; authorized, 1,500,000 shares; issued, 300,000 shares $1,500,000
Paid-in capital in excess of par 840,000
Retained earnings 3,060,000
Total $5,400,000
The following events occurred during 2015:
Jan. 5 32,000 shares of authorized and not issued common stock were sold for $8 per share.
Jan. 16 Declared a cash dividend of 20 cents per share, payable February 15 to stockholders of record on February 5.
Feb. 10 40,000 shares of authorized and not issued common stock were sold for $13 per share.
March 1 A 30% stock dividend was declared and issued. Fair market value per share is currently $15.
April 1 A two-for-one split was carried out. The par value of the stock was to be reduced to $2.50 per share. Fair market value on March 31 was $18 per share.
July 1 A 15% stock dividend was declared and issued. Fair market value is currently $10 per share.
Aug. 1 A cash dividend of 20 cents per share was declared, payable September 1 to stockholders of record on August 21.
Required:
Prepare the journal entries required for each of these transactions. If any do not require a journal entry, explain why not.
as 1- Jan Started business with $2,000 in the bank 2- Jan Purchased goods $ 175 on credit from M Mills 3- Jan Bought fixtures and fittings $ 150 paying by cheque. 5- Jan Sold goods for cash $ 275. 6- Jan Bought goods on credit $ 144 from S Watts. 10-Jan Paid rent by cash $ 15 12-Jan Bought stationery $ 27 paying by cash. 18- Jan Goods returned to M Mills $ 23 21- Jan Let off part of the premises receiving rent by cheque $ 5 23- Jan Sold goods on credit to Henry for $ 77 24-Jan Bought Motor van paying by cheque $ 500 30- Jan Paid wages by cash $ 117 31-Jan The proprietor took cash for himself $ 44.
A sole proprietorship might do business under its owner's name or a fictional name. The transactions that have occurred during the month of January can be recorded in a ledger using the double-entry accounting system. Each transaction will have a corresponding debit and credit entry.
On 1st Jan, Jan started a business with $2,000 in the bank. On 2nd Jan, Jan purchased goods worth $175 on credit from M Mills. On 3rd Jan, Jan bought fixtures and fittings worth $150 and paid by cheque. On 5th Jan, Jan sold goods for cash worth $275.
On 6th Jan, Jan bought goods on credit worth $144 from S Watts. On 10th Jan, Jan paid rent by cash worth $15. On 12th Jan, Jan bought stationery worth $27 and paid by cash. On 18th Jan, Jan returned goods to M Mills worth $23. On 21st Jan, Jan let off part of the premises receiving rent by cheque worth $5.
On 23rd Jan, Jan sold goods on credit to Henry worth $77. On 24th Jan, Jan bought a motor van paying by cheque worth $500. On 30th Jan, Jan paid wages by cash worth $117. On 31st Jan, Jan took cash for himself worth $44.
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In class we discussed the use of tickmarks to document work performed. It was suggested that:
I. Write down the explanation of the tickmark, before it is used.
II. Include a "conclusion" in the tickmark explanation.
a. I is true; II is true.
b. I is true; II is false.
c. I is false; II is true.
d. I is false; II is false
In class we discussed the use of tickmarks to document work performed. It was suggested that Write down the explanation of the tickmark, before it is usedand Include a "conclusion" in the tickmark explanation.
The correct answer is option a. I is true; II is true.
Tickmarks are symbols used by auditors to document the work performed during an audit. It is important to write down the explanation of the tickmark before it is used, as it helps to ensure that the tickmark is used consistently throughout the audit and that the auditor remembers the meaning of the tickmark.
Including a "conclusion" in the tickmark explanation is also important, as it helps to summarize the auditor's findings and provides a clear understanding of the work performed.
Therefore, both statements I and II are true in regards to the use of tickmarks in documenting work performed during an audit.
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What technique can students use to narrow down the amount of information their online search results give them?
A.
Learn to read lots information as quickly as possible.
B.
Stick mostly to only the top results of the search.
C.
Narrow results down to the most recently updated sites.
D.
Use precise keywords and refine their searches.
Your query will be more targeted more the keywords you choose. You might also consider utilizing more targeted keywords.(option d)
How can I focus my Online search?To omit a specific phrase, use the sign. These terms cannot appear in you search results on browser. Always add particular keywords in your search results by using the plus sign . These terms must always appear in search results. By selecting other terms, you can further focus your search. For this example, other keywords might concentrate on a related topic, an age bracket, or even a particular technology. Your findings become more manageable by substituting a more precise term, like television, for technology.
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GHG emissions are is a key growth area for assurance services but it is not without its challenges.
Required
Conduct an internet search for an Australian company whose website includes any type of GHG emissions disclosure and then use the following prompting questions to complete a reflection in the Interact2 Journal, accessed on the left-hand menu of your subject site:
What? Describe the nature of the GHG emissions disclosure for your selected Australian company. For example, was it informative and/or clear? Difficult or easy to find?
So what? If you were a member of an assurance team engaged to provide assurance on this engagement, what type of misstatements and assertions would you be most concerned about? Why?
Now what? How might you design audit procedures to collect sufficient and appropriate audit evidence relating to the audit assertions you identified above? What specialist assistance might be required on the audit team to undertake these procedures?
GHG emissions disclosures vary from company to company. The GHG emissions disclosure for the selected Australian company may be informative and/or clear, difficult or easy to find.
If you were a member of an assurance team engaged to provide assurance on this engagement, you would be most concerned about misstatements and assertions related to the company's GHG emissions levels.
This is because they are significant factors that influence the environment, and accurate information must be provided.
To collect sufficient and appropriate audit evidence relating to the audit assertions, you could design audit procedures such as inquiring with management, reviewing documentation, and performing analytical procedures.
Depending on the complexity of the company's GHG emissions, the audit team may require specialist assistance to ensure accurate results.
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Albert Einstein once said ' we cannot solve today`s problems bythinking in the same way we thought when we created them'' Discussthis view in the context of effective leadership.
Albert Einstein's quote highlights the importance of adaptability and innovation in solving problems. In the context of effective leadership, this means that leaders should be open to new ideas and approaches in order to address current challenges.
For example, if a company is experiencing a decline in sales, a leader should not rely on the same strategies that may have worked in the past. Instead, they should be open to exploring new marketing techniques or reevaluating their product offerings.
Furthermore, effective leaders should be able to recognize when their current way of thinking is not working and be willing to change their approach. This requires a level of self-awareness and humility, as well as the ability to listen to feedback from others.
In conclusion, effective leadership requires the ability to adapt and innovate in order to solve problems. Leaders should not rely on the same way of thinking that may have contributed to the problem in the first place, but instead be open to new ideas and approaches.
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If the discount rate is 8 percent compounded quarterly, what is
the effective monthly rate?
Group of answer choices
0.05%
0.66%
1.04%
8.24%
The effective monthly rate would be 0.66% when the discount rate is 8%.
To find the effective monthly rate, we first need to convert the discount rate from a quarterly rate to a monthly rate. We can do this by dividing the discount rate by 4, since there are 4 quarters in a year:
8% / 4 = 2%
Now, we can use the formula for the effective monthly rate:
Effective monthly rate = (1 + discount rate / 12) ^ 12 - 1
Plugging in our values:
Effective monthly rate = (1 + 2% / 12) ^ 12 - 1
Effective monthly rate = (1 + 0.0016666666666666668) ^ 12 - 1
Effective monthly rate = 1.020113842 ^ 12 - 1
Effective monthly rate = 1.006618278
Effective monthly rate = 0.006618278
Effective monthly rate = 0.66%
Therefore, the correct answer would be 0.66%.
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14. If a company borrows $2,000,000 from a line of credit, it will be required to (1) maintain a compensating balance in the amount of $80,000, (2) pay interest in the amount of $120,000, and (3) pay an up-front commitment fee in the amount of $4,000. What is this lending arrangement's EAR?
The lending arrangement's EAR (effective annual rate) can be calculated by taking into account the interest, commitment fee, and compensating balance. Therefore the EAR is 6.06%.
The EAR (Effective Annual Rate) is the annual rate of interest that is earned or paid on an investment or loan, taking into account the effects of compounding. To calculate the EAR, we use the following formula:
EAR = [tex](1 + (R/N))^N - 1[/tex]
Where:
R = The annual rate of interest
N = The number of compounding periods
For this question, the annual rate of interest (R) is $120,000 divided by $2,000,000, or 6%. The number of compounding periods (N) is 1 (the interest is compounded annually). Thus, the EAR is:
EAR = [tex](1 + (6percent/1))^1 - 1 =[/tex] 6.06%.
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write a 500 word critique of a selected text based on its claim,
context and properties as a written material using your own
words
Answer:
in image
Explanation:
hope it helped u,if yes then please mark me a brainliest :-)
Writing a critique of a selected text requires analyzing the text's claim, context, and properties as a written material.
The text's claim should be the basis of the critique. Analyze how the text argues its point, including how it presents its evidence. Consider the logical strength of the argument, any gaps in logic or evidence, and how well the claim is supported. It is also important to consider the biases or assumptions underlying the claim and to explore any counterarguments.
The context of the text is also important. Look at the historical and cultural background of the text, as well as the target audience and the author's intent. Additionally, consider the implications of the text and its impact on readers. This will help provide a deeper understanding of the text.
Lastly, analyze the text's properties as a written material. This includes the text's structure, tone, and style. Explore the text's use of figurative language and its effectiveness. Also, consider how the text is organized and how well it communicates its message.
By considering these aspects of the text, this 500-word critique will provide an in-depth analysis of its claim, context, and properties as a written material.
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Cheeseburger and Taco Company purchases 8,427 boxes of cheese each year. It costs $15 to place and ship each order and $6.65 per year for each box held as inventory. The company is using Economic Order Quantity model in placing the orders.
Calculate Economic Order Quantity.
Round the answer to the whole number.
The nearest whole number, the Economic Order Quantity for Cheeseburger and Taco Company is 195 boxes.
The Economic Order Quantity (EOQ) model is used to determine the optimal order quantity that minimizes total inventory costs. The formula for EOQ is:
EOQ = √((2 × D × S) / H)
Where:
D = Annual demand in units
S = Ordering cost per order
H = Holding cost per unit per year
In this case, D = 8,427 boxes, S = $15, and H = $6.65. Plugging these values into the formula gives:
EOQ = √((2 × 8,427 × 15) / 6.65)
EOQ = √(252,810 / 6.65)
EOQ = √(38,009.77)
EOQ = 194.96
Rounding to the nearest whole number, the Economic Order Quantity for Cheeseburger and Taco Company is 195 boxes.
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At the beginning of the year, a firm has current assets of $329 and current liabilities of $233. At the end of the year, the current assets are $495 and the current liabilities are $273. What is the change in net working capital? Multiple Choice $206 $126 $166
The change in net working capital is $126.
The change in net working capital can be calculated by subtracting the initial net working capital from the final net working capital. Net working capital is the difference between current assets and current liabilities.
Initial net working capital = Current assets at the beginning of the year - Current liabilities at the beginning of the year
= $329 - $233
= $96
Final net working capital = Current assets at the end of the year - Current liabilities at the end of the year
= $495 - $273
= $222
Change in net working capital = Final net working capital - Initial net working capital
= $222 - $96
= $126
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In Oct 2018, the Winterfell city council met to decide how much road salt the city would purchase for the coming winter 2018-2019. Each year, the state of the North solicits a statewide bid for bulk ice control salt allowing those who participate to receive advantageous pricing. This year, the low bidder for "early fill" salt, purchased before the winter season in October, is $31.50 per ton. The low bidder for seasonable back-up salt is $36.30, which can be purchased during the winter season. Based on the salt usage in the past few years and snow forecast for the coming winter, the city council estimated that the amount of road salt needed for this winter follows a normal distribution with mean 7300 tons and standard deviation 600 tons.
a. How many tons of "early fill" salt should the city council purchase to minimize costs?
b. The city finds that they can sell the leftover salt at the end of the winter season to other northern cities at $18.50 per ton. How many tons of "early fill" salt should the city council purchase given they can sell the leftover salt?
The city council should purchase 8400 tons of "early fill" salt given they can sell the leftover salt at $18.50 per ton.
a. To minimize costs, the city council should purchase enough "early fill" salt to cover the expected usage for the winter, which is 7300 tons. This will ensure that they do not have to purchase any of the more expensive seasonable backup salt at $36.30 per ton. Therefore, the city council should purchase 7300 tons of "early fill" salt at $31.50 per ton to minimize costs.
b. If the city can sell the leftover salt at the end of the winter season at $18.50 per ton, they should purchase more "early fill" salt to take advantage of the lower price. The amount of "early fill" salt they should purchase can be calculated by finding the point at which the cost of purchasing "early fill" salt and selling the leftover salt is equal to the cost of purchasing only the amount of salt needed for the winter. This can be found by solving the equation:
$31.50x - $18.50(x - 7300) = $31.50(7300)
Solving for x gives:
x = 8400 tons
Therefore, the city council should purchase 8400 tons of "early fill" salt given they can sell the leftover salt at $18.50 per ton.
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DIY Chef
(Post Series A Capitalization Table)
Shares %
Common Stock:
Founders: Sierra & Derrick 4,000,000 40%
Reserved for Stock Option Plan 2,000,000 20%
Series A Preferred Stock:
CMU Ventures II, LP 4,000,000 40%
Total Capital Stock 10,000,000 100%
Use the above capitalization table for DIY Chef and assume that:
- Founders (Sierra & Darrick) purchased their shares of common stock for $0.001 per share (for a total of $4,000).
- A venture capital fund managed by Carson and Shanell of CMU Ventures ("CMUV") recently paid $2.00 for each share of its Series - A preferred stock (for a total of $8,000,000).
- Immediately after the Series A financing, CMUV has the right to convert each share of its Series A preferred stock into one share of common stock.
- The Series A preferred stock has "full ratchet" price-based anti-dilution protection.
- The Series A preferred stock has a ONE times liquidation preference right (i.e., LP = 1X) AND the Series A preferred stock is "full participating."
- The above capitalization table is accurate and complete (i.e., immediately after the Series A financing: (a) there are no other outstanding shares of stock or options to purchase stock; and (b) DIY Chef has not yet issued any shares reserved for its Stock - - --- Option Plan).
1. Again, for this question, assume that: (a) a large Delaware corporation, Big Public Co., is going to buy all of DIY Chef's assets for $28,000,000; (b) immediately after the sale, no shares of DIY Chef's common stock will be subject to any vesting; (c) immediately after the sale, DIY Chef has no debts or other liabilities; and, (d) DIY Chef is going to distribute all of the sale proceeds to its stockholders.
Also, for purposes of this question only, assume that CMUV had acquired NON-participating preferred stock (i.e., instead of the full participating preferred stock). Assume further that the NON-participating preferred stock has a ONE times liquidation preference right (i.e., LP = 1X).
Should CMUV convert its preferred stock to common stock after learning about the terms of the sale (HINT: 50% of $28,000,000 is $14,000,000)?
a. No - because converting to common stock would cause CMUV to lose its special rights
b. No - because converting to common stock would cause CMUV to receive LESS cash (than it would receive if it does NOT convert)
c. Yes - because converting to common stock would cause CMUV to receive MORE cash (than it would receive if it does NOT convert)
d. It does not matter. CMUV will receive exactly the same amount of cash regardless of whether it converts the preferred stock to common stock
b. No - because converting to common stock would cause CMUV to receive LESS cash (than it would receive if it does NOT convert)
If CMUV converts its preferred stock to common stock, it would receive 50% of the $28,000,000 sale proceeds, which is $14,000,000. However, if CMUV does not convert its preferred stock to common stock, it would receive its liquidation preference of $8,000,000 (1X of its initial investment) plus its pro rata share of the remaining $20,000,000 (which is 40% of $20,000,000 or $8,000,000).
Therefore, CMUV would receive a total of $16,000,000 if it does not convert its preferred stock to common stock. Since $16,000,000 is more than $14,000,000, CMUV would receive less cash if it converts its preferred stock to common stock.
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A single share of stock in a company has a current price of 80. Suppose that there are only four possibilities for the stock's return over the course of the next year. These possibilities, along with the probability of each occurring, are provided in the table below. IR -17% -7% 8% 29% P[R] 0.13 0.34 0.37 0.16 Find the expected annual return for the stock. 3.31% 0 4.21% 3.91% 03.61% O3.01%
The expected annual return for the stock is 3.01%.
By calculating multiplying each possible return by the probability of that return occurring and then summing the results. This can be represented by the formula:
E[R] = ∑ IR * P[R]
Where E[R] is the expected return, IR is the possible return, and P[R] is the probability of that return occurring. Using the values provided in the table, we can plug them into the formula to find the expected annual return:
E[R] = (-17% * 0.13) + (-7% * 0.34) + (8% * 0.37) + (29% * 0.16)
E[R] = -2.21% + -2.38% + 2.96% + 4.64%
E[R] = 3.01%
Therefore, the expected annual return for the stock is 3.01%. The correct answer is 3.01%.
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In a regression of the single-index model, the R-square is 68%,
residual variance is 0.08, beta estimate is 0.7. What is the
variance of the market excess return? (round 4 decimal places)
Variance of market excess return = 1.8503 .
In a regression of the single-index model, we can use the formula for R-square to find the variance of the market excess return.
The formula for R-square is:
R-square = (beta^2 * variance of market excess return) / (beta^2 * variance of market excess return + residual variance)
Given that R-square = 68%, beta = 0.7, and residual variance = 0.08, we can plug in these values and solve for the variance of market excess return:
0.68 = (0.7^2 * variance of market excess return) / (0.7^2 * variance of market excess return + 0.08)
0.68 * (0.7^2 * variance of market excess return + 0.08) = 0.7^2 * variance of market excess return
0.68 * 0.7^2 * variance of market excess return + 0.68 * 0.08 = 0.7^2 * variance of market excess return
0.68 * 0.08 = 0.7^2 * variance of market excess return - 0.68 * 0.7^2 * variance of market excess return
0.0544 = 0.0294 * variance of market excess return
Variance of market excess return = 0.0544 / 0.0294
Variance of market excess return = 1.8503
Therefore, the variance of the market excess return is 1.8503 (rounded to 4 decimal places).
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A bond's market price is $1,150. It has a $1,000 par value, will mature in 14 years, and has a coupon interest rate of 11 percent annual interest, but makes its interest payments semiannually. What is the bond's yield to maturity? What happens to the bond's yield to maturity if the bond matures in 20 years? What if it matures in 5 years?
The bond's yield to maturity is 9.25%, if it matures in 20 years is 9.25%, and if the bond matures in 5 years 7.44%
The bond's yield to maturity (YTM) can be calculated using the following formula:
YTM = [(C + (F - P) / N) / ((F + P) / 2)] * 100
Where:
C = Annual coupon payment
F = Face value of the bond
P = Market price of the bond
N = Number of years to maturity
Plugging in the given values into the formula, we get:
YTM = [($110 + ($1000 - $1150) / 14) / (($1000 + $1150) / 2)] * 100
YTM = [($110 - $10.71) / $1075] * 100
YTM = 9.25%
Therefore, the bond's yield to maturity is 9.25%.
If the bond matures in 20 years, the YTM will be:
YTM = [($110 + ($1000 - $1150) / 20) / (($1000 + $1150) / 2)] * 100
YTM = [($110 - $7.5) / $1075] * 100
YTM = 9.53%
If the bond matures in 5 years, the YTM will be:
YTM = [($110 + ($1000 - $1150) / 5) / (($1000 + $1150) / 2)] * 100
YTM = [($110 - $30) / $1075] * 100
YTM = 7.44%
Therefore, the bond's yield to maturity will be 9.53% if it matures in 20 years and 7.44% if it matures in 5 years.
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A company's stock currently sells for $120 per share. The company announced a 12% stock dividend, which will result in 1,400,000 shares outstanding after the stock dividend. Assuming there are no market imperfections or tax effects, what is the current number of shares outstanding ( before the stock dividend)?
The amount of shares currently in circulation prior to the stock dividend is 1,250,000.
To find the current number of shares outstanding before the stock dividend, we need to use the formula:
Current number of shares outstanding = (Number of shares outstanding after the stock dividend) / (1 + Stock dividend percentage)
Plugging in the given values:
Current number of shares outstanding = (1,400,000) / (1 + 0.12)
Current number of shares outstanding = (1,400,000) / (1.12)
Current number of shares outstanding = 1,250,000
Therefore, the current number of shares outstanding before the stock dividend is 1,250,000.
Note that the company's stock price and any market imperfections are irrelevant to this calculation, as we are only concerned with the number of shares outstanding.
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