Given below is the history of a sale on credit by SpongeBob Co. to Star Inc.

(Note: SpongeBob Co. uses the perpetual inventory system and the gross method to account for merchandise sales.)

i. June 25, 2005: SpongeBob Co. sold merchandise to Star Inc. for $9,000, terms 2/10, n/30. The inventory cost SpongeBob Co. $8000.

ii. December 31, 2007: After numerous attempts to collect, SpongeBob Co. wrote off Star Inc.'s account off as uncollectible. SpongeBob Co. uses an allowance account.

iii. June 30, 2010: Star Inc. contacted SpongeBob Co. with the intention to pay the outstanding amount, so SpongeBob Co. added Star Inc.'s account back into the system.

iv. July 5, 2010: Star Inc. paid the debt in full, plus $1,800 in interest.

Instructions: Record the 4 journal entries for SpongeBob Co at the time that they happen. Please also add the dates to the entries.

Mary has worked several positions in a company over 10 years. Mary received several warnings from the company during this time, and she filed several grievances with the local union  in return. Mary was suspended in March for missing a day of work. She filed two grievances that day and was fired a week later. Mary filed an unfair labor practice charge with the union, and an arbitration was held pursuant to the collective bargaining agreement between the company and the union. The arbitrator ruled that Mary discharge should be treated as a suspension and she should be allowed to return to work. However, when she back to work in November, she was given a different position from her original position. So, she filed another grievance. When she asked back the manager of why she can not get her old job back, and the manager responded that because she has filed too many grievances. The company keep giving warnings to Mary the next two months. At a meeting, company promised Mary that they would stop giving her warnings if Mary stop file grievances. But at last Mary was fired after 3 months for the reasons of “performed too slowly”. Mary filed another grievance upon her firing that the company improperly discharged her in retaliation for her grievance filings.

Please answer the following two questions in 500 words:
1. What do you think the decision of Labor Affairs if this case went before Labor Affairs.
2. What would you have done if you were the company? What are the lessons learned in this case?
*please answer these two questions in around 500 words

A worker is given monthly tests (new test generated each month) to assess his ability to be effective in the workplace. However this worker got into an accident recently. The employer said that "the accident would change them, and the employer believe that the worker is a completely different person before versus after the accident. The employer would like to determine if the worker's performance has significantly changed since the accident has occured.

alpha = 5%
before = sample 1

(a) Find the p-values of the normality tests

p-value (before) =

p-value (after) =

(b) State the hypotheses:

(c) Find the test statistic for this test =

(d) Determine the ?P-value of your statistical test =

(e) At a=0.05, the data indicates you will [reject / fail to reject] null hypothesis. You can say that the test scores before and after the accident is _______ after the accident.

Data:

Big Ink is a chain of tattoo parlors that follows IFRS. The following data is for 2020:

Golf club dues were $30,000.

Automated tattoo machinery was acquired on January 1, 2019, for $200,000. Straight‐line depreciation is over a 10‐year life with a $20,000 residual value. For taxes, the 30% rate class is used, and Big Ink applied the CRA half year rule in 2019.

On December 31, 2020, Big Ink accrued a provision for legal expense of $40,000. The estimated legal liability of $40,000 relates to four pending lawsuits. In addition to the $40,000, legal costs paid out in cash during 2020 were $60,000. These related to lawsuits started and settled during 2020. Big Ink believes that the new automated equipment will reduce the number of lawsuits.

Pretax accounting income for 2020 is $880,000. The income tax rate is 25%.

Instructions

1. WRITE a schedule (starting with pretax accounting income) to calculate taxable income. On your schedule, indicate a subtotal for accounting income after permanent differences.
2. Prepare the journal entries to record income taxes for 2020.

Days Ltd's financial year ended on 30 June 2020. The following events occurred between the end of the reporting period and the date the directors of Edwards Ltd expect to authorise the financial statements for issue:

1. On 3 July 2020, directors proposed a final dividend of $120,000.
2. On 15 July 2020, Days Ltd took delivery of building materials (inventory). Building materials were purchased from a Chinese manufacturer. Building materials were in transit at the end of the reporting period. An inspection of the building materials revealed significant flaws and the materials were returned to the supplier on 25 July 2020. Days Ltd is to receive a full refund of the $125,000 purchase price, which had been paid in advance on 27 June 2020.

REQUIRED

For each of the above material after-reporting-period events, state whether adjustment or disclosure is required in the 30 June 2020 financial statements. Assume the above events would not significantly affect the going-concern assumption for Days Ltd.

(No need for financial statement notes or any journal entries for adjustments.)

On January 1, 2020, Kingbird Inc. issued $350,000 of 6-year, 3% bonds to yield a market interest rate of 4%. Interest is paid every quarter on January 1, April 1, July 1, and October 1. Kingbird has a calendar year end. After recording the December 31, 2021 accrual for quarterly interest, and making the payment on January 1, 2022, all the bonds were redeemed at 101.

Prepare a bond amortization schedule for the first two years (8 interest periods). (Round answers to 0 decimal places, e.g. 5,276.) KINGBIRD INC. Bond Discount Amortization Schedule Effective-Interest Method Semi-Annual Interest Period Interest Payment Interest Expense Amortization Bond Amortized Cost Issue Date, Jan. 1, 2020 $ Apr. 1, 2020 $ $ $ $ Jul. 1, 2020 Oct 1, 2020 Dec. 31, 2020 (accrual) Apr. 1, 2021 Jul. 1, 2021 Oct 1, 2021 Dec. 31, 2021 (accrual)

Jamee is a resident taxpayer. For the year ended 30 June 2020 he received:

Gross salary of $82,000 from which PAYG of $20,100 had been withheld.

Net interest of $745 after TFN withholding tax of $715 had been withheld.

In September 2019 Jamee received $1,100 as his share in the winnings from a punters club with his work colleagues.

In January 2020 he received a holiday valued at $3,400 from his employer for achieving the highest sales in the previous year.

In June 2020, Jamee’s employer announced that he would be giving Jamee a pay rise effective from 1 April 2020. He is therefore to receive backpay of $2,000 of which $1,000 will be paid on 27June 2020 and the remaining $1,000 will be paid on 4 July 2020.

Dividend of $12,000 deposited to his bank account in May 2020 in respect of a 70% franked Australian dividend (company tax rate 30%).

Interest on a term deposit with a Swedish bank of $3,600 (10% withholding tax had been deducted). Advise Jamee how each payment would be treated, provide relevant section, case law and other supporting evidence. Calculate Jamee’s assessable income for the current year ended 30 June 2020.