Record U.S. Corn Supply Grows Even BiggerEconomic pause due to the pandemic has slowed demand for corn as U.S. farmers plant a robust cropEnding stocks of corn are expected to exceed 3.3 billion bushels in 2020-21.PHOTO: DANIEL ACKER/BLOOMBERG NEWSBy June 11, 2020 4:17 pm ETKirk Maltais will cause prices to sink to as low as $2.70 per bushel. That would be the lowest corn hastraded at since 2006.“U.S. and world corn supplies are below the average guess, but still adequate for this yearand huge for next year,” said Doug Bergman, head of the agricultural trading desk forChicago-based RCM Alternatives.The Corn Belt is experiencing better weather than last year, when heavy rains hitproduction. The USDA reported Monday that 97% of U.S. corn intended for planting thisyear has been put in the ground, compared with 78% at this point last year. Three-quarters of emerged corn is in good or excellent condition, up from 59% last year, theUSDA said.Creeping UpU.S. corn production and ending stocks, pastfive yearsSource: USDANote: 2019 and 2020 figures are USDA estimates..billion bushelsProductionEnding Stocks2016'200.02.55.07.510.012.515.017.5 On the world stage, U.S. corn faces stiff competition from other nations like Brazil. Worldcorn stockpiles are estimated at 339.6 million metric tons in 2020, up from projections of337.6 million metric tons by analysts surveyed by The Wall Street Journal.Demand metrics for corn have been improving in recent weeks—U.S. ethanol productionhas been returning after sliding to a record low in late April. In the past six weeks,production of the corn-based biofuel rose 56% from April’s low to 837,000 barrels a day,according to data from the U.S. Energy Information Administration released Wednesday.The recovery in ethanol is still tenuous, however—as a potential spike in Covid-19 casesnationwide could easily see production figures careening lower. “All of this depends onhow fast people get back on the road,” said Dave Marshall, farm-marketing adviser withFirst Choice Commodities in Nashville, Ill. Read the article above and answer the following questions

: 1.Draw and label a graph that represents demand and supply in the market for corn. Indicate the point in the graph where the quantity demanded for corn is equal to the quantity supplied. Refer to the graph drawn for the previous question. In the graph show how an increase in supply would affect the equilibrium price and quantity of corn.

2.Economists consider corn and other commodities markets to be examples of perfect competition. In a perfectly competitive market individual firms are “price takers.” What is a price taker? How is the demand curve for an individual corn farmer different from the industry demand curve for corn?

3.From the article: “…U.S. corn prices are lower for the year… Many farmers peg the break-even price for their corn crops at $3.20 per bushel, but some grains traders anticipate that the high supply figures will cause prices to sink to as low as $2.70 per bushel.” If a corn farmer “breaks even” does the farmer earn no accounting profit? Does the firm earn no economic profit? In your answer explain the difference between accounting profit and economic profit.

4.From the article: “…a reduction in demand for corn to make ethanol is the key factor driving stockpiles higher. ‘Corn used for ethanol is lowered reflecting a slower-than-expected rebound in ethanol production,’ the USDA said.” Explain why the demand for ethanol has decreased

. 5.Referring to the market for corn the article states: “Production is also at a record high, with the USDA maintaining its forecast… at 15.99 billion bushels. That is up more than 2.3 billion bushels from last year’s total, the result of a record 97 million acres planted this year.” Why wouldn’t farmers jointly agree to reduce the number of acres they planted in order to increase the price of corn?

1.        Angelo uses the equity method to account for its investment in Fischer on January 1. On the date of acquisition, Fischer’s land and buildings were undervalued on its balance sheet. During the year following the acquisition, how do these excesses of fair values over book values affect Angelo's Equity Income from Fischer?

a. Building, Decrease; Land, No Effect

b. Building, Decrease; Land, Decrease

c. Building, Increase;   Land, Increase

d. Building, Increase;   Land, No Effect

2.         On January 2, 2020, Campbell, Inc. purchased a 20% interest in Renner Corp. for $2,000,000 cash. During 2020, Renner's net income was $2,500,000 and it paid dividends of $750,000.

Equity Investment balance should Campbell report at December 31, 2020?

a. $2,500,000

b. $   500,000

c. $2,350,000

d. $2,150,000

3.        On December 31, 2020, Park Inc. paid $500,000 for all of the common stock of Smith Corp. On that date, Smith had assets and liabilities with book values of $400,000 and $100,000; and fair values of $450,000 and $125,000, respectively.

What amount of goodwill will be reported on the December 31, 2020 balance sheet?

a. $ 50,000

b. $100,000

c. $200,000

d. $175,000

4.         Francis, Inc. acquired 40% of Park's voting stock on January 1, 2020 for $420,000. During 2020, Park earned $120,000 and paid dividends of $60,000. During 2021, Park earned $160,000 and paid dividends of $50,000 on April 1 and $40,000 on December 1. On July 1, 2021, Francis sold half of its stock in Park for $275,000 cash.

The Equity Investment balance at December 31, 2020 is:

a. $420,000

b. $444,000

c. $408,000

d.   $492,000

5.         On January 1, 2020, Cracker Co. purchased 40% of Dallas Corp.'s common stock at book value of net assets. The balance in Cracker's Equity Investment account was $820,000 at December 31, 2020. Dallas reported net income of $500,000 for the year ended December 31, 2020, and paid dividends totaling $150,000 during 2020.

How much did Cracker pay for its 40% interest in Dallas?

a. $680,000

b. $500,000

c. $560,000

d. $760,000

Crane Company sells tablet PCs combined with Internet service, which permits the tablet to connect to the Internet anywhere and set up a Wi-Fi hot spot. It offers two bundles with the following terms.
(A):Prepare any journal entries to record the revenue arrangement for Crane Bundle A on January 2, 2020, and December 31, 2020.

(B) Prepare any journal entries to record the revenue arrangement for Crane Bundle B on July 1, 2020, and December 31, 2020.

(C)Repeat the requirements for part (a), assuming that Crane Company has no reliable data with which to estimate the standalone selling price for the Internet service.

Zynga, located in San Francisco, California, had become a dominant player in the online gaming field, almost entirely through the use of social media platforms. The company name was established by the founder and original CEO, Mark Pincus, to pay tribute to his late beloved pet bulldog, named Zinga. Although this seems whimsical, Zynga had quickly become a powerful company. To exemplify Zynga’s prominence, Facebook was reported to have earned roughly 12 percent of its 2011 revenue from the operations of Zynga’s virtual merchandise sales. On the basis of this success, Zynga had gone public in December of 2011.

Zynga had been a dominant force, but had lost market share in recent years due to the absence of a new and innovative product pipeline. Lack of new product-driven growth had led to uneven revenues, with significant losses – over $108 million in 2016. Even though Zynga had released some new mobile games, which accounted for 73 percent of the company’s revenue in 2015, this was not enough to reverse declines from the existing product lineup.

Zynga’s long term viability may be at risk because of questionable decision making. Many of Zynga’s competitors, and even some partners, had been displeased with the company’s actions and had shown it in the form of litigation. Agincourt, a plaintiff of a lawsuit brought against Zynga, was quoted as saying, “Zynga’s remarkable growth has not been driven by its own ingenuity. Rather it has been widely reported that Zynga’s business model is to copy creative ideas and game designs from other game developers and then use its market power to bulldoze the games’ originators.” Zynga had been accused of copyright infringement, breach of written contract, and, internally, had a reputation for a risk-averse company culture that failed to reward innovation and creativity. Regarding its users, complaint resolution consisted of email-only support, and there was concern that customer information was not being properly protected against unauthorized access.

To make matters worse, Zynga had had four CEO changes since 2013, with the most recent one, Frank Gibeau from Electronic Arts, installed in March of 2016, now expected to turn the company around. Although Zynga had once been a dominant force on Facebook, by 2016 it had failed to surface in the top 5 virtual-gaming rankings, with users increasingly choosing to play King Company’s Candy Crush Saga and others.

As Zynga looks to the future, where will its next big hit come from? With all the criticism aimed at Zynga’s past behavior, will the company continue on the path it has become notorious for and reap further accusations of imitating its competitors’ games and putting customers potentially at risk? Or will Zynga change its approach, gain a reputation for intellectual integrity and begin creating true one-of-a-kind games—showing its capa­bilities as a leader in the industry rather than a follower?

1. Does the organization have positive personal and professional relationships among employees and alliance partners?

Q1 (a) What is the significance of Marketing?

(b) “Marketing is both art and science.” Discuss.

(Please the Expert needs to submit a detailed answer which must be a standout in a very competitive MBA Marketing Class) .

1. The proportion of basketball players who have not had a missed shot in MBA last year is 27 out of a sample of top 60 players.

                     (5 marks)

                        Hint: The standard deviation of population and the standard deviation of the sample are unknown, thus you have to use the square root of p(1-p)/n as a best estimate of the standard deviation.

1. Test the hypothesis that the population proportion of basketball players who have not had a missed shot in MBA last year is greater than 0.42 using the critical value approach and a 0.05 level of significance.

2. Test the hypothesis that the population proportion of customers who are completely satisfied is different from 0.5 using the p-value approach and a 0.05 level of significance

Rolfe Company (a U.S.-based company) has a subsidiary in Nigeria where the local currency unit is the naira (NGN). On December 31, 2016, the subsidiary had the following balance sheet (amounts are in thousands (000's)): Cash NGN 16,830 Notes payable NGN 20,460 Inventory 12,300 Common stock 22,700 Land 4,230 Retained earnings 11,350 Building 42,300 Accumulated depreciation (21,150 ) NGN 54,510 NGN 54,510 The subsidiary acquired the inventory on August 1, 2016, and the land and building in 2010. It issued the common stock in 2008. During 2017, the following transactions took place: 2017 Feb. 1 Paid 8,230,000 NGN on the note payable. May 1 Sold entire inventory for 18,300,000 NGN on account. June 1 Sold land for 6,230,000 NGN cash. Aug. 1 Collected all accounts receivable. Sept.1 Signed long-term note to receive 8,230,000 NGN cash. Oct. 1 Bought inventory for 20,230,000 NGN cash. Nov. 1 Bought land for 3,230,000 NGN on account. Dec. 1 Declared and paid 3,230,000 NGN cash dividend to parent. Dec. 31 Recorded depreciation for the entire year of 2,115,000 NGN. The U.S dollar ($) exchange rates for 1 NGN are as follows: 2008 NGN 1 = $ 0.0071 2010 1 = 0.0065 August 1, 2016 1 = 0.0085 December 31, 2016 1 = 0.0087 February 1, 2017 1 = 0.0089 May 1, 2017 1 = 0.0091 June 1, 2017 1 = 0.0093 August 1, 2017 1 = 0.0097 September 1, 2017 1 = 0.0099 October 1, 2017 1 = 0.0101 November 1, 2017 1 = 0.0103 December 1, 2017 1 = 0.0105 December 31, 2017 1 = 0.0130 Average for 2017 1 = 0.0120 Assuming the NGN is the subsidiary's functional currency, what is the translation adjustment determined solely for 2017? Assuming the U.S.$ is the subsidiary's functional currency, what is the remeasurement gain or loss determined solely for 2017? (Input all amounts as positive. Enter amounts in whole dollars.) Rolfe Company (a U.S.-based company) has a subsidiary in Nigeria where the local currency unit is the naira (NGN). On December 31, 2016, the subsidiary had the following balance sheet (amounts are in thousands (000's)): Cash NGN 16,830 Notes payable NGN 20,460 Inventory 12,300 Common stock 22,700 Land 4,230 Retained earnings 11,350 Building 42,300 Accumulated depreciation (21,150 ) NGN 54,510 NGN 54,510 The subsidiary acquired the inventory on August 1, 2016, and the land and building in 2010. It issued the common stock in 2008. During 2017, the following transactions took place: 2017 Feb. 1 Paid 8,230,000 NGN on the note payable. May 1 Sold entire inventory for 18,300,000 NGN on account. June 1 Sold land for 6,230,000 NGN cash. Aug. 1 Collected all accounts receivable. Sept.1 Signed long-term note to receive 8,230,000 NGN cash. Oct. 1 Bought inventory for 20,230,000 NGN cash. Nov. 1 Bought land for 3,230,000 NGN on account. Dec. 1 Declared and paid 3,230,000 NGN cash dividend to parent. Dec. 31 Recorded depreciation for the entire year of 2,115,000 NGN. The U.S dollar ($) exchange rates for 1 NGN are as follows: 2008 NGN 1 = $ 0.0071 2010 1 = 0.0065 August 1, 2016 1 = 0.0085 December 31, 2016 1 = 0.0087 February 1, 2017 1 = 0.0089 May 1, 2017 1 = 0.0091 June 1, 2017 1 = 0.0093 August 1, 2017 1 = 0.0097 September 1, 2017 1 = 0.0099 October 1, 2017 1 = 0.0101 November 1, 2017 1 = 0.0103 December 1, 2017 1 = 0.0105 December 31, 2017 1 = 0.0130 Average for 2017 1 = 0.0120 Assuming the NGN is the subsidiary's functional currency, what is the translation adjustment determined solely for 2017? Assuming the U.S.$ is the subsidiary's functional currency, what is the remeasurement gain or loss determined solely for 2017? (Input all amounts as positive. Enter amounts in whole dollars.) Rolfe Company (a U.S.-based company) has a subsidiary in Nigeria where the local currency unit is the naira (NGN). On December 31, 2016, the subsidiary had the following balance sheet (amounts are in thousands (000's)): Cash NGN 16,830 Notes payable NGN 20,460 Inventory 12,300 Common stock 22,700 Land 4,230 Retained earnings 11,350 Building 42,300 Accumulated depreciation (21,150 ) NGN 54,510 NGN 54,510 The subsidiary acquired the inventory on August 1, 2016, and the land and building in 2010. It issued the common stock in 2008. During 2017, the following transactions took place: 2017 Feb. 1 Paid 8,230,000 NGN on the note payable. May 1 Sold entire inventory for 18,300,000 NGN on account. June 1 Sold land for 6,230,000 NGN cash. Aug. 1 Collected all accounts receivable. Sept.1 Signed long-term note to receive 8,230,000 NGN cash. Oct. 1 Bought inventory for 20,230,000 NGN cash. Nov. 1 Bought land for 3,230,000 NGN on account. Dec. 1 Declared and paid 3,230,000 NGN cash dividend to parent. Dec. 31 Recorded depreciation for the entire year of 2,115,000 NGN. The U.S dollar ($) exchange rates for 1 NGN are as follows: 2008 NGN 1 = $ 0.0071 2010 1 = 0.0065 August 1, 2016 1 = 0.0085 December 31, 2016 1 = 0.0087 February 1, 2017 1 = 0.0089 May 1, 2017 1 = 0.0091 June 1, 2017 1 = 0.0093 August 1, 2017 1 = 0.0097 September 1, 2017 1 = 0.0099 October 1, 2017 1 = 0.0101 November 1, 2017 1 = 0.0103 December 1, 2017 1 = 0.0105 December 31, 2017 1 = 0.0130 Average for 2017 1 = 0.0120 Assuming the NGN is the subsidiary's functional currency, what is the translation adjustment determined solely for 2017? Assuming the U.S.$ is the subsidiary's functional currency, what is the remeasurement gain or loss determined solely for 2017? (Input all amounts as positive. Enter amounts in whole dollars.)

Adidas Inc is a start up company and is gradually growing big and doing well.It needs additional capital.Imagine yourself as the CEO of Adidas and answer the following questions:

1. How do you plan to raise 10 Billion dollar for this company.

2. Draw up the liability section of this imaginary Balance Sheet .(please format in vertical format)

Adidias Inc is a start up company and is gradually groeing big and doing well.It needs additional capital.Imagine yourself as the CEO of Adidas and answer the following questions:

1. How do you plan to raise 10 BN dollar for this company.

2. Draw up the liability section of this imaginary Balance Sheet .(please format in vertical format)