The title "How Monetary Policy Changed in Australia on 18th March 2020".
Could you please explain briefly, but clearly and correctly how the RBA managed the cash rate before 18th March, and what has happened since then? (In Australia)
In: Economics
ABC Inc. producing A, B and C products, the following are costs and revenues information regarding these products during 2010:
|
Data |
A |
B |
C |
Total |
|
Revenues |
200,000 |
300,000 |
150,000 |
650,000 |
|
Costs: |
||||
|
DM |
80,000 |
160,000 |
60,000 |
300,000 |
|
DL |
30,000 |
60,000 |
20,000 |
110,000 |
|
VOH |
15,000 |
25,000 |
10,000 |
50,000 |
|
FOH (department- specific) |
20,000 |
35,000 |
15,000 |
70,000 |
|
FOH (factory-general) |
10,000 |
10,000 |
10,000 |
30,000 |
|
Operating expenses (Fixed) |
20,000 |
20,000 |
20,000 |
60,000 |
|
Operating income |
25,000 |
(10,000) |
15,000 |
30,000 |
Required:
1. Based on the above information, do advice the company to close department (B) assuming that in case of closing the department all department specific cost will be eliminated.
2. If the company closed department (B) and expand its operations in department (C), which entails increasing the revenues and costs by 40% and 80% of the fixed OH department specific cost moved to department (C), would you advise the company to do so?
In: Accounting
Question 2
Required: Prepare the proper ADJUSTING journal entries for the following events. Also, prepare a balance sheet after adjusting entries have been made.
The unadjusted trial balance for Tahini & Jam Inc. appears below:
Tahini & Jam Inc.
Unadjusted Trial Balance
December 31, 2020
Debit Credit
Cash $75,500
Accounts receivable 5,000
Prepaid rent 1,000
Prepaid insurance 15,000
Supplies 3,000
Equipment 40,000
Accumulated depreciation-equipment $4,000
Accounts payable 11,000
Bank loan payable 10,000
Unearned service revenue 10,500
Common shares 48,250
Retained earnings 32,000
Dividends 5,000
Service revenue 44,600
Salary expense 7,200
Utilities expense 1,200
Rent expense 5,250
Advertising expense 2,200 ________
$160,350 $160,350
Additional data is as follows. Record the adjusting entry below the information.
Dr.
Cr.
Dr
Cr.
Dr.
Cr.
Dr.
Cr.
Dr.
Cr.
Dr.
Cr.
Dr.
Cr.
Dr.
Cr.
In: Accounting
Examine the second plan to increase the current minimum wage of $8.70 by 2.1% per year.
Write a formula to model what the federal minimum wage, W, should be t years after 2020.
What would minimum wage be in 2025? Round to the nearest cent.
In what year will minimum wage be at least double the 2020 value?
In: Statistics and Probability
On 1 July, 2018 Bundoora Ltd acquires 25 percent of the issued capital of Preston Ltd for a cash consideration of $150,000. At the date of acquisition, the share capital and retained earnings of Preston Ltd are as follows: Share capital $120,000 and Retained earnings $480,000 (Total Shareholders’ equity $600,000). Additional information: For the year ending 30 June 2019 Preston Ltd records an after-tax profit of $50,000 from which it pays a dividend of $30,000. For the year ending 30 June, 2020 Preston Ltd records an after-tax loss of $30,000. On 30 June 2020, Preston Ltd declares dividends of $10,000. Bundoora Ltd has a number of subsidiaries. Required: (i) Prepare the journal entries using both the cost and equity methods of accounting in context of parent entity for the investment in Preston Ltd for each of the years ended 30 June 2019 to 2020. (ii) Calculate the carrying amount of the investment in Preston Ltd at 30 June 2020.
In: Accounting
On 1 July, 2018 Bundoora Ltd acquires 25 per cent of the issued capital of Preston Ltd for a cash consideration of $150,000. At the date of acquisition, the share capital and retained earnings of Preston Ltd are as follows: Share capital $120,000 and Retained earnings $480,000 (Total Shareholders’ equity $600,000). Additional information: For the year ending 30 June, 2019 Preston Ltd records an after tax profit of $50,000 from which it pays a dividend of $30,000. For the year ending 30 June, 2020 Preston Ltd records an after tax loss of $30,000. On 30 June 2020, Preston Ltd declares dividends of $10,000. Bundoora Ltd has a number of subsidiaries.
Required:
(i) Prepare the journal entries using both the cost and equity methods of accounting in context of parent entity for the investment in Preston Ltd for each of the years ended 30 June 2019 to 2020.
(ii) Calculate the carrying amount of the investment in Preston Ltd at 30 June 2020.
In: Accounting
On 1 July, 2018 Bundoora Ltd acquires 25 per cent of the issued capital of Preston Ltd for a cash consideration of $150,000.
At the date of acquisition, the share capital and retained earnings of Preston Ltd are as follows: Share capital $120,000 and Retained earnings $480,000 (Total Shareholders' equity $600,000).
Additional information:
§ For the year ending 30 June, 2019 Preston Ltd records an after tax profit of $50,000 from which it pays a dividend of $30,000.
§ For the year ending 30 June, 2020 Preston Ltd records an after tax loss of $30,000. On 30 June 2020, Preston Ltd declares dividends of $10,000.
§ Bundoora Ltd has a number of subsidiaries.
Required:
(i) Prepare the journal entries using both the cost and equity methods of accounting in context of parent entity for the investment in Preston Ltd for each of the years ended 30 June 2019 to 2020.
(ii) Calculate the carrying amount of the investment in Preston Ltd at 30 June 2020.
In: Accounting
Copyright 2012 Deloitte Development LLC All Rights Re served. Case 13- 08 Accounting for a Loss Contingency for a Verdict Overturned on Appeal M International (“M”) and W Inc. ( “W,” a competitor of M) have been engaged in long- standing litigation over a specific patent infringement matter . Below is a summary timeline of specific events that have taken place related to this matter : • In May 2007, W filed a claim against M for patent infringement . • For the year ended December 31, 2007, management of M determined th at a loss for this matter was probable and represented t hat the estimate of loss was in the range of $1 5 million to $20 million , with $17 million being the most likely amount of loss within the range. • A jury trial took place in September 2009. • The jury reached a verdict on September 24, 2009, and a judgment was ordered in favor of W . The judgment required M to pay W $18.5 million . • In November 2009, M filed a Notice of Appeal with the Court of Appeals . • In December 2010, the Court of Appeals issued a ruling in favor of M’s appeal and reversed the lower court ’s ruling on the matter. This meant that the Court of Appeals overturned the jury verdict and the $18.5 million judgment against M . • On January 6, 2011, W filed a petition for a re -hearing before the same panel of appellate judges against the reversal of r uling by Court of Appeals . • On February 10, 2011, the appellate judges declined the petition for a re -hearing . • On February 28, 2011, management of M determined this matter was closed upon discussions with in- house legal counsel.
Please provide one page summary of the above case
In: Accounting
On June 30, 2018, Rundle Company’s total current assets were $500,500 and its total current liabilities were $272,500. On July 1, 2018, Rundle issued a short-term note to a bank for $40,400 cash.
Required
Compute Rundle’s working capital before and after issuing the note.
Compute Rundle’s current ratio before and after issuing the note. (Round your answers to 2 decimal places.)
On June 30, 2018, Vernon Company’s total current assets were $501,000 and its total current liabilities were $278,500. On July 1, 2018, Vernon issued a long-term note to a bank for $39,000 cash. Required Compute Vernon’s working capital before and after issuing the note. Compute Vernon’s current ratio before and after issuing the note. (Round your answers to 1 decimal place.)
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In: Accounting
Commercial Law I Assessment 3 - CASE STUDY/RESEARCH REPORT - Due Week 11 – 30% weighting
PART A – Case Study – 1000 words
Audrey is employed as the Events Manager for NSW Wealth Managers Association headquartered in Sydney and she has the responsibility for arranging the annual member’s conference. The theme of this year’s conference is ‘investment and superannuation’ and Audrey’s role is to ensure that all of the delegate’s requirements are met including accommodation, food, clothing, and travel. The annual conference will be held in Surfers Paradise, QLD this year and Audrey has to organise everything. Audrey starts by looking up the website of XYZ Tours in order to book a bus for the purpose of the delegate’s travel to and from the hotel to the conference centre during the 5 day visit to Surfers Paradise. The website clearly states that all bookings must be online. Audrey telephones the company on 1 February 2020 and has a general discussion with Tommy, the company representative, about the availability of a bus, the dates and prices. She does not specifically confirm a booking or pay a deposit in that conversation. A week later on 8 February 2020, Audrey posts a letter to XYZ Tours’ office in Surfers Paradise stating that she wishes to proceed with her booking as discussed with Tommy. In addition to the ‘booking’ that she makes with XYZ Tours, Audrey books all the accommodation and other conference and travel activities through ‘A Class Travel’ a travel agency. In August, Audrey realises that she has not yet organised any of the specially made jackets which the delegates will wear during the conference. She goes to ‘DEX Outfitters” to make these arrangements. She orders the jackets to be made with ‘NSW Wealth Managers Association – Annual Conference 2020’ embroidered on the pocket. Audrey agrees to buy the jackets for $275 each after the shop owner says “Trust me, I have been in business for 20 years and my clothing is made from the finest quality cotton and workmanship. You will have no problems with the clothing. Look at this quality. I promise you that nothing will go wrong.” Audrey is so stressed that she has left things to the last minute and tells the shop owner that if he does not provide the clothing within 14 days she will destroy him and his business. When the clothing finally arrives Audrey discovers the jackets are not made from cotton and the logo says “2010” rather than “2020”. One week before the delegation is due to travel from Sydney to Surfers Paradise, the QLD Premier declares a state of emergency as a result of the worsening coronavirus pandemic and spreading infections, and decides to close all the borders. All flights are cancelled and all roads into QLD are closed. As a result, all event gatherings are prohibited until further notice. ACBUS201A – S2 2021 Assessment 31/8/2020 Required: Based on the above information and your knowledge of Australian contract and consumer law, answer the following questions. 1. Outline and describe any legal contractual issues in relation to Audrey’s booking with “XYZ Tours” and whether or not she/NSW Wealth Managers Association has/have a contractual arrangement with them. Use relevant cases to support your answer. 2. Outline and describe whether or not Audrey’s conduct towards the shop owner at ‘DEX Outfitters” has any impact on the contract she has agreed to for the manufacture of the delegate’s jackets. Use relevant cases to support your answer. 3. Advise Audrey if her contract with ‘A Class Travel’ is enforceable, given the state of emergency declaration, worsening coronavirus pandemic and the subsequent cancellation of all event gatherings. Use relevant cases to support your answer. 4. Due to great disappointment following the cancellation of their annual conference in Surfers Paradise, the NSW Wealth Managers Association decides to reschedule the conference to Katoomba in the Blue Mountains region of NSW. Unfortunately this trip is a complete disaster, as the travel agent Audrey used failed to make bookings adequately to accommodate the whole delegation, didn’t book enough tickets to the scenic mountains tour and failed to adequately cater for all attendees at the closing dinner. With reference to this additional information, outline whether or not Audrey and/or the NSW Wealth Managers Association may sue for damages? Fully explain your answer and use relevant cases to support your answer. 5. For the purposes of the Australian Consumer Law (ACL) discuss whether or not Audrey would be a Consumer in her dealings with ‘DEX Outfitters’. 6. Has the shop owner of ‘DEX Outfitters’ committed a breach of the Australian Consumer Law (ACL) in relation to his statement “Trust me, I have been in business for 20 years and my clothing is made from the finest quality cotton and workmanship. You will have no problems with the clothing. Look at this quality. I promise that nothing will go wrong” and the circumstances surrounding the jackets received by Audrey? Use relevant cases to support your answer.
In: Accounting