I am a doctorate student (Educational Leadership) taking a course in School Finance.

Please give me questions that I can ask in an interview with a CFO/Treasurer of a school or university finance officer.

Thanks.

Three professors at the University of Macau compared two different approaches to teaching courses in the faculty of business administration. At the time of the study, there were 2,100 students in the faculty, and 96 students were involved in the study. Demographic data collected on these 96 students included year of study (first, second, third, fourth), age, gender, and major. What is the population of interest in the study?

Select one:

a. The demographic data collected from the 96 selected students in the faculty of business administration at the University of Macau at the time of the study.

b. All the students in the faculty of business administration at the University of Macau in the academic year 2019/2020.

c. The 96 selected students in the faculty of business administration at the University of Macau in the academic year 2019/2020.

d. The 2,100 students in the faculty of business administration at the University of Macau at the time of the study.

Topic: Equity method investments

LO 2

Delta Corporation acquired 25% of the voting stock of Davidson Company in 2019. There were no basis differences. It is now 2020. Davidson reported 2020 net income of $5,000,000, other comprehensive income of $100,000, and declared and paid cash dividends of $1,500,000. Delta’s ending inventory contains $1,020,000 purchased from Davidson, and its beginning inventory contains $750,000 purchased from Davidson. Davidson sells inventory to Delta at a markup of 20% on cost. Delta uses the equity method to account for its investment in Davidson.

Required

a. Calculate equity in net income of Davidson, reported on Delta’s 2020 income statement.

b. Prepare Delta’s 2020 journal entry or entries related to its investment in Davidson.

c. What is the net effect of the investment in Davidson on Delta’s 2020 net income and on Delta’s 2020 comprehensive income

The task:

You are working in a partnership position in a company and An existing Provider is looking for 10X growth with your company in 2020. you have scheduled a call with the provider's manager. Your CEO is also invited to this call.

1- Please write down a structure for the call and draft 3-5 potential solutions that you supposed to discuss with the partner.

2- prefer/prioritize these solutions in a way you expect to achieve the best result from the call. Justify your choices and your strategy.  

The task: You are working in a partnership position in a company and An existing Provider is looking for 10X growth with your company in 2020. you have scheduled a call with the provider's manager. Your CEO is also invited to this call. 1- Please write down a structure for the call and draft 3-5 potential solutions that you supposed to discuss with the partner. 2- prefer/prioritize these solutions in a way you expect to achieve the best result from the call. Justify your choices and your strategy.

Alpha Company acquired 40% interest in an associate, VV Company, for P2,500,000 on January 1, 2019. At the acquisition date, there were no differences between fair value and carrying amount of identifiable assets and liabilities. VV reported net income of P1,000,000 for 2019 and P1,500,000 for 2020. Also, VV paid cash dividend of P400,000 and P500,000 for 2019 and 2020, respectively. The following additional events occurred during 2019 and 2020:

• On January 1, 2019, VV sold an equipment costing P250,000 to HH Company for P400,000. The remaining useful life of the equipment is 10 years.

• On December 2019, VV sold inventory to HH Company for P450,000. The cost of the inventory was P300,000. This inventory remained unsold by HH Company on December 31, 2019.

• On July 1, 2020, VV sold a vehicle for P450,000 to HH Company. The carrying amount of the vehicle is P250,000 at the time of sale. The remaining life of the vehicle is 5 years.

• On December 2020, HH sold the inventory from VV Company.

a) Determine the investor’s share in profit for 2019. __________________________

b) Determine the investor’s share in profit for 2020. __________________________

c) Determine the carrying amount of the investment in associate on December 31, 2019. __________________________

d) Determine the carrying amount of the investment in associate on December 31, 2020. __________________________

You have been asked by the CEO to interview potential candidates to manage the subject three projects. discuss at least 5 skills that would be essential for the project managers to have in order to ensure delivery of the projects on time, within cost and within desired quality

AC312 – Tax Research Memo #2 You provide tax consulting services for Oh Gnome You Didn’t, Inc. (“Gnome”), a C-corporation that designs and constructs whimsical gnome gardens for its clientele. On May 25th, 2018, Gnome acquired substantially all the business assets of an unrelated company named You Better Duck, Inc. (“Duck”). Duck bathed and groomed pet ducks prior to Gnome’s acquisition of its assets. It is well-known that 75% of duck aficionados own a gnome garden because ducks love to quack up at the funny-looking gnomes, so this was a very strategic business decision for Gnome. The transition was seamless, and no duck was forced to stay unkempt for a moment. Gnome paid $1,725,000 to acquire Duck’s assets, of which $690,000 was allocated to tangible assets and the remaining $1,035,000 of the purchase price related to Duck’s intangible assets. Your friend Millie who also happens to be Gnome’s CFO has provided the following table for you to reference that itemizes the purchase and computes the 2018 GAAP expense associated with the acquired assets: Asset Description Adjusted Basis Cost Allocation Method – GAAP 2018 GAAP Expense Duck bathing and grooming equipment $690,000 Depreciate over 48 months, beginning with June 2018 $690,000/48 months * 7 months in 2018 = 100,625 3-year exclusive supplier agreement with Ducks ‘R Us 93,000 Amortize over 36 months, beginning with June 2018 $93,000/36 months * 7 months in 2018 = 18,083 Patent for the Clean “Bill” of Health bathing process invented by Donald, Duck’s founder (expires in 16 years) 25,000 Amortize over 192 months, beginning with June 2018 $25,000/192 months * 7 months in 2018 = 911 2-year Employment Agreement with the #1 duck whisperer in the known universe 260,000 Amortize over 24 months, beginning with June 2018 $260,000/24 months * 7 months in 2018 = 75,833 Goodwill 657,000 Not amortizable Not Applicable Total Cost of Acquired Assets $1,725,000 2018 GAAP Depreciation & Amortization Expense for Acquired Assets $195,452 Continued next page… AC312 – Tax Research Memo #2 (continued) Millie would like to know the 2018 tax expense amount that will be reported on Gnome’s income tax return with respect to the acquired assets. She has asked you to compute the allowable 2018 tax depreciation and tax amortization expense amounts and would like you to summarize your results using the partially completed table below. Millie believes that Gnome’s 2018 income tax return is likely to be audited by the IRS, so she has requested you document your findings in a professional tax research memo using proper citations to substantiate your cost allocation method conclusions for each type of asset. Asset Description Adjusted Basis Cost Allocation Method – Tax 2018 Tax Expense Duck bathing and grooming equipment $690,000 3-year exclusive supplier agreement with Ducks ‘R Us 93,000 Patent for the Clean “Bill” of Health bathing process invented by Donald, Duck’s founder (expires in 16 years) 25,000 2-year Employment Agreement with the #1 duck whisperer in the known universe 260,000 Goodwill 657,000 Total Cost of Acquired Assets $1,725,000 2018 Tax Depreciation & Amortization Expense for Acquired Assets $??? Expert Answer

1. West Virginia University has provided a monopoly to the Coca-Cola company for the sale and distribution of beverages on campus. Economic theory tells us this comes with an amount of deadweight loss and a transfer of social benefits from the consumers to Coca-Cola, at least compared to having a perfectly competitive beverage market on campus. Why might the cost to society associated with this monopoly be understated?

Ben Bates graduated from college six years ago with a finance undergraduate degree. Although he is satisfied with his current job, his goal is to become an investment banker. He feels that an MBA degree would allow him to achieve this goal. After examining schools, he has narrowed his choice to either Wilton University or Mount Perry College. Although internships are encouraged by both schools, to get class credit for the internship, no salary can be paid. Other than internships, neither school will allow its students to work while enrolled in its MBA program. Ben currently works at the money management firm of Dewey and Louis. His annual salary at the firm is $65,000 per year, and his salary is expected to increase at 3 percent per year until retirement. He is currently 28 years old and expects to work for 40 more years. His current job includes a fully paid health insurance plan, and his current average tax rate is 26 percent. Ben has a savings account with enough money to cover the entire cost of his MBA program. The Ritter College of Business at Wilton University is one of the top MBA programs in the country. The MBA degree requires two years of full-time enrollment at the university. The annual tuition is $70,000, payable at the beginning of each school year. Books and other supplies are estimated to cost $3,000 per year. Ben expects that after graduation from Wilton, he will receive a job offer for about $110,000 per year, with a $20,000 signing bonus. The salary at this job will increase at 4 percent per year. Because of the higher salary, his average income tax rate will increase to 31 percent. The Bradley School of Business at Mount Perry College began its MBA program 16 years ago. The Bradley School is smaller and less well known than the Ritter College. Bradley offers an accelerated, one-year program, with a tuition cost of $85,000 to be paid upon matriculation. Books and other supplies for the program are expected to cost $4,500. Ben thinks that he will receive an offer of $92,000 per year upon graduation, with an $18,000 signing bonus. The salary at this job will increase at 3.5 percent per year. His average tax rate at this level of income will be 29 percent. Both schools offer a health insurance plan that will cost $3,000 per year, payable at the beginning of the year. Ben also estimates that room and board expenses will cost $2,000 more per year at both schools than his current expenses, payable at the beginning of each year. The appropriate discount rate is 6.3 percent.

Please answer:

current salary______

years until retirement_____

salary increase______

tax rate____

Wilton

tuition per year____

books & supplies____

starting salary____

signing bonus____

salary increase_____

tax rate_____

Mount Perry

tuition per year____

books & supplies____

starting salary____

signing bonus____

salary increase_____

tax rate_____

Both schools

health insurance______

room & board_______

discount rate______