Questions
Can you explain what Woolworth can do to regain shareholder confidence after receiving a major salary...

Can you explain what Woolworth can do to regain shareholder confidence after receiving a major salary scandal? (200-300 words)

Because according to ASX (2020) the price of Woolworth's shares fell after this news.

In: Accounting

Use Python to write the following code. Program Specifications: You are to design the following menu:...

Use Python to write the following code.

Program Specifications:

You are to design the following menu:

G] Get a number

S] Display current sum

A] Display current average

H] Display the current highest number

L] Display the current lowest number

D] Display all numbers entered

Q] Quit

If the user enters G, S, A, H, L, or D before selecting G the program needs to advise the user to go and enter a number first.

Rules for the Programmer (you)

  1. Source code must use a dynamic list to store all numbers
  2. Source code must have a function for each of the menu options above (I guess even for quit too]
  3. Source code must have reasonable comments
  4. Source code must not allow the user to do bad things (you can assume they will enter a number if they press G or if you want to figure it out, yell at the user if he or she does not enter a number)

In: Computer Science

Prior to 2019, the accounting income and taxable income for Sunland Corporation were the same. On...

Prior to 2019, the accounting income and taxable income for Sunland Corporation were the same. On January 1, 2019, the company purchased equipment at a cost of $468,000. For accounting purposes, the equipment was to be depreciated over 9 years using the straight-line method. For income tax purposes, the equipment was subject to a CCA rate of 20% (half-year rule applies for 2019). Sunland’s income before tax for accounting purposes for 2020 was $1,895,000. The company was subject to a 25% income tax rate for all applicable years and anticipated profitable years for the foreseeable future. Sunland Corporation follows IFRS.

Calculate taxable income and taxes payable for 2020.

Taxable income, 2020 $
Taxes payable, 2020 $

Prepare the journal entries to record 2020 income taxes (current and deferred). (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.)

Account Titles and Explanation

Debit

Credit

(To record current income taxes)

(Record the net change from 2019 to 2020.)

In: Accounting

On January 1, 2020, a machine was purchased for $900,000 by Young Co. The machine is...

On January 1, 2020, a machine was purchased for $900,000 by Young Co. The machine is expected to have an 8-year life with no salvage value. It is to be depreciated on a straight-line basis. The machine was leased to St. Leger Inc. for 3 years on January 1, 2020, with annual rent payments of $150,955 due at the beginning of each year, starting January 1, 2020. The machine is expected to have a residual value at the end of the lease term of $562,500, though this amount is unguaranteed.

a. How much should Young report as income before income tax on this lease for 2020?

b. Record the journal entries St. Leger would record for 2020 on this lease, assuming its incremental borrowing rate is 6% and the rate implicit in the lease is unknown.

c. Suppose the lease was only for one year (only one payment of the same amount at commencement of the lease), with a renewal option at market rates at the end of the lease, and St. Leger elects to use the short-term lease exception. Record the journal entries St. Leger would record for 2020 on this lease.

In: Accounting

At the beginning of 2020, Cameron Company's retained earnings was $212,000. For 2020, Cameron has calculated...

At the beginning of 2020, Cameron Company's retained earnings was $212,000. For 2020, Cameron has calculated its pretax income from continuing operations to be $120,000. During 2020, the following events also occurred:

1. During July, Cameron sold Division M (a component of the company). The book values of Division M’s assets and liabilities are $300,000 and $100,000, respectively, at the time of

sale. The company sold Division M for cash $159,500. During 2020 before its sale, Division M recognized revenues of 100,000 and expenses of 61,000 (excluding income tax expense).

2. Cameron had 21,000 shares of common stock outstanding during all of 2020. It declared and paid a $1 per share cash dividend on this stock.

3. Cameron also paid $7,500 cash dividend to its preferred stockholders.

Required:

Assuming that all the “pretax” items are subject to a 21% income tax rate:

1. Complete the lower portion of Cameron's 2020 income statement, beginning with “Pretax

Income from Continuing Operations.”

2. Prepare an accompanying retained earnings statement.

In: Finance

Based on the liquidity ratios, how would you describe Burlington Company's short-term cash situation? What has...

Based on the liquidity ratios, how would you describe Burlington Company's short-term cash situation?

What has happened to the Burlington Company efficiency ratios between 2009 and 2010? What does that tell you about the company's inventory levels? About the company's efficient use of assets?

Have the company's profitability ratios improved? What may have caused this?

Income Statement Balance Sheets
for Years Ending December 31 Common Size as of December 31 Liquidity Ratios 2010 2009
Fin Stmts Common Size Current Ratio 4% 3%
2010 2009 2010 2009 2010 2009 Fin Stmts Quick Ratio 2% 2%
Sales $   900,000 $   800,000 100% 100% Assets 2010 2009 Working Capital $            122,000 $           102,000
Cost of Sales 610,000 480,000 68% 60% Cash $     40,000 $     39,000 8% 9% Avg. Collection Period 28% 20% $ 2,466.00 $ 2,192.00
   Gross Margin 290,000 320,000 32% 40% Accounts Receivable 54,000 59,000 11% 13%
Selling & Admin expenses 248,000 280,000 28% 35% Inventory 70,000 43,000 14% 10% Asset Efficiency Ratio
Income before taxes 42,000 40,000 5% 5% Prepaid Expenses 4,000 4,000 1% 1% Inventory Turnover 9% 11%
Income tax expense 17,000 18,000 2% 2% Fixed Assets (net) 340,000 310,000 67% 68%
   Net Income $     25,000 $     22,000 3% 3%    Total Assets $   508,000 $   455,000 100% 100%
Solvency Ratio
Liabilities & Equities Debt to Equity 0.40% 0.50%
Accounts Payable $     40,000 $     38,000 27% 27%
12.50% Salaries Payable 2,000 3,000 1% 2% Profitability
Taxes Payable 4,000 2,000 3% 1% Return on Investment 14% 14%
Long Term Debt 100,000 100,000 69% 70%
   Total Liabilities 146,000 143,000 29% 31%
Contributed Capital 200,000 175,000 39% 39% Use the following amounts to calculate the
Retained Earnings 162,000 137,000 32% 30% 2009 asset efficiency ratios:
   Total Liabilities & Equities $   508,000 $   455,000 100% 100% 2008 inventory $               40,000
Use the following amounts to calculate the
rate of return for investment:
2008 Contributed Capital $200,000

In: Finance

In 2020, VQQ Inc. received $350,000 in dividends from Cohen Labratories Inc. VQQ's taxable income before...

  1. In 2020, VQQ Inc. received $350,000 in dividends from Cohen Labratories Inc. VQQ's taxable income before the dividends received deduction (but including the dividend income) AND before a $30,000 charitable contribution deduction is $300,000. What is VQQ's DRD assuming it owns 15% of the Cohen Labratories Inc. stock, as well as its taxable income for 2020? (20 points)

  1. Is the DRD a temporary or permanent difference? Favorable or unfavorable? Will it create a deferred tax asset or liability? Briefly explain your answers. (5 points)

  1. Assume the corporation made $50,000 in charitable contributions but was allowed only the $30,000 deduction. Assuming VQQ expects to be profitable and have taxable income in future years, and that it does not plan to make any future charitable contributions, is this a temporary or permanent difference? Favorable or unfavorable? Will it create a deferred tax asset or liability? Briefly explain your answers. (5 points)

In: Accounting

To what extent do you think that values and attitudes contribute to an employees's overall satisfaction...

To what extent do you think that values and attitudes contribute to an employees's overall satisfaction with their job? Why or why not? Referring to both examples from the business and political worlds, what can happen when a population's collective value system differs greatly from that of their employers or goverments?

Course: Organizational behaviour and management

In: Accounting

*Outline the characteristic of Social Disorganization theory. How applicable is this theory in real life scenarios....

*Outline the characteristic of Social Disorganization theory. How applicable is this theory in real life scenarios.

*What is collective efficacy and how does it help area/neighborhoods become and remain crime free?

*How does one develop Strain and how could that lead them to a criminal pathway?

*Explain General Strain Theory.

In: Operations Management

Government Do you feel it is beneficial that we have countless interest groups and that they...

Government

Do you feel it is beneficial that we have countless interest groups and that they have an enormous influence in our political system? Do interest groups end up helping the powerful segments of society at the expense of the collective good or not? Should lobbyists need a stricter form of regulation when conducting business with legislature?

In: Psychology