In: Economics
|
Abbey INC. |
|||
|
Balance Sheet |
|||
|
Assets |
Dec. 31, 2010 |
Jan. 1, 2010 |
Inc./Dec. |
|
Equipment |
$39,000 |
$22,000 |
$17,000 Inc. |
|
Less: Accumulated depreciation |
-17,000 |
$ (11,000) |
6,000 Inc. |
|
Accounts receivable |
91000 |
88,000 |
3,000 Inc. |
|
Cash |
45,000 |
13,000 |
32,000 Inc. |
|
Total |
$158,000 |
$112,000 |
|
|
Equity and Liabilities |
|||
|
Share capital—ordinary |
100000 |
$80,000 |
20,000 Inc. |
|
Retained earnings |
38,000 |
17,000 |
21 ,OOO Inc. |
|
Accounts payable |
20,000 |
15,000 |
5,000 Inc. |
|
Total |
$158,000 |
$112,000 |
|
Net Income of $34000 was reported and Dividend of $13000 were paid in 2010. New Equipment was purchased and none was sold.
Requirement:
Prepare Statement of Cash Flow for the year 2010.
In: Finance
|
Abbey INC. |
|||
|
Balance Sheet |
|||
|
Assets |
Dec. 31, 2010 |
Jan. 1, 2010 |
Inc./Dec. |
|
Equipment |
$39,000 |
$22,000 |
$17,000 Inc. |
|
Less: Accumulated depreciation |
-17,000 |
$ (11,000) |
6,000 Inc. |
|
Accounts receivable |
91000 |
88,000 |
3,000 Inc. |
|
Cash |
45,000 |
13,000 |
32,000 Inc. |
|
Total |
$158,000 |
$112,000 |
|
|
Equity and Liabilities |
|||
|
Share capital—ordinary |
100000 |
$80,000 |
20,000 Inc. |
|
Retained earnings |
38,000 |
17,000 |
21 ,OOO Inc. |
|
Accounts payable |
20,000 |
15,000 |
5,000 Inc. |
|
Total |
$158,000 |
$112,000 |
|
Net Income of $34000 was reported and Dividend of $13000 were paid in 2010. New Equipment was purchased and none was sold.
Requirement:
Prepare Statement of Cash Flow for the year 2010.
In: Accounting
| XYZ stock price and dividend history are as follows: |
| Year | Beginning-of-Year Price | Dividend Paid at Year-End |
| 2010 | $ 124 | $ 4 |
| 2011 | $ 135 | $ 4 |
| 2012 | $ 115 | $ 4 |
| 2013 | $ 120 | $ 4 |
|
An investor buys six shares of XYZ at the beginning of 2010, buys another two shares at the beginning of 2011, sells one share at the beginning of 2012, and sells all seven remaining shares at the beginning of 2013. |
|
To compute dollar-weighted return, prepare a chart of cash flows for the four dates corresponding to the turns of the year for January 1, 2010, to January 1, 2013. (Enter your answer as an integer. Negative amounts should be indicated by a minus sign.) |
| Date | Cash Flow (for the investor) |
| 1/1/2010 | ? |
In: Finance
The pretax financial income of Truttman Company differs from its taxable income throughout each of 4 years as follows.
|
Year |
Pretax |
Taxable Income |
Tax Rate |
||||
| 2020 | $290,000 | $180,000 | 35 | % | |||
| 2021 | 320,000 | 225,000 | 20 | % | |||
| 2022 | 350,000 | 260,000 | 20 | % | |||
| 2023 | 420,000 | 560,000 | 20 | % | |||
Pretax financial income for each year includes a nondeductible
expense of $30,000 (never deductible for tax purposes). The
remainder of the difference between pretax financial income and
taxable income in each period is due to one depreciation temporary
difference. No deferred income taxes existed at the beginning of
2020.
Prepare journal entries to record income taxes in all 4 years. Assume that the change in the tax rate to 20% was not enacted until the beginning of 2021. (Credit account titles are automatically indented when 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.)
|
Date |
Account Titles and Explanation |
Debit |
Credit |
|
2020 |
|||
|
2021 |
|||
| (To record the adjustment for the decrease in the enacted tax rate.) | |||
| (To record income taxes for 2021.) | |||
|
2022 |
|||
|
2023 |
|||
eTextbook and Media
List of Accounts
Prepare the income statement for 2021, beginning with income before income taxes. (Enter negative amounts using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).)
|
Truttman Company |
||
|
AdjustmentCurrentDeferredDividendsExpensesIncome before Income TaxesIncome Tax ExpenseNet Income / (Loss)Retained Earnings, January 1Retained Earnings, December 31RevenuesTotal ExpensesTotal Revenues |
$ |
|
|
AdjustmentCurrentDeferredDividendsExpensesIncome before Income TaxesIncome Tax ExpenseNet Income / (Loss)Retained Earnings, January 1Retained Earnings, December 31RevenuesTotal ExpensesTotal Revenues |
||
|
AdjustmentCurrentDeferredDividendsExpensesIncome before Income TaxesIncome Tax ExpenseNet Income / (Loss)Retained Earnings, January 1Retained Earnings, December 31RevenuesTotal ExpensesTotal Revenues |
$ |
|
|
AdjustmentCurrentDeferredDividendsExpensesIncome before Income TaxesIncome Tax ExpenseNet Income / (Loss)Retained Earnings, January 1Retained Earnings, December 31RevenuesTotal ExpensesTotal Revenues |
||
|
AdjustmentCurrentDeferredDividendsExpensesIncome before Income TaxesIncome Tax ExpenseNet Income / (Loss)Retained Earnings, January 1Retained Earnings, December 31RevenuesTotal ExpensesTotal Revenues |
||
|
AdjustmentCurrentDeferredDividendsExpensesIncome before Income TaxesIncome Tax ExpenseNet Income / (Loss)Retained Earnings, January 1Retained Earnings, December 31RevenuesTotal ExpensesTotal Revenues |
$ |
|
In: Accounting
In 2010, the Maricopa Community College District's enrollment
data showed the following breakdown of students by ethnicity: 54.9%
White; 21.1% Hispanic; 7.9% Black; 4.5% Asian/Pacific Islander;
2.9% Native American; 8.8% Other. Information was collected from a
random sample 0f 300 students in 2017 to determine whether or not
the data has changed significantly. The sample data is given in the
table below. At the α=0.10α=0.10 level of significance, test the
claim that the ethnic breakdown of students at MCCCD has not
changed significantly since 2010.
Which would be correct hypotheses for this test?
Ethnicity of students in sample:
| Ethnicity | Count |
|---|---|
| White | 141 |
| Hispanic | 76 |
| Black | 26 |
| Asian/Pacific Islander | 8 |
| Native American | 15 |
| Other | 34 |
Test Statistic:
Give the P-value:
Which is the correct result:
Which would be the appropriate conclusion?
In: Statistics and Probability
In 2010, Dr. Bob decided to gather research on the type of
disorders that present among his patients. His data collection
resulted in the following breakdown of patients by disorder: 54.9%
Schizophrenia; 21.1% Major Depression; 7.9% Obsessive-Compulsive
Disorder; 4.5% Anxiety Disorder; 2.9% Personality Disorder; 8.8%
Other. Information was collected from a random sample 0f 300
patients in 2018 to determine whether or not the data has changed
significantly. The sample data is given in the table below. At the
α=0.05 level of significance, test the claim that the disorder
breakdown of patients at Dr. Bob's hospital has not changed
significantly since 2010.
Which would be correct hypotheses for this test?
Type of disorder per patient in sample:
| Disorder | Count |
|---|---|
| Schizophrenia | 145 |
| Major Dispression | 73 |
| Obsessive-Compulsive Disorder | 30 |
| Anxiety Disorder | 12 |
| Personality Disorder | 14 |
| Other | 26 |
Test Statistic:
Give the P-value:
Which is the correct result:
Which would be the appropriate conclusion?
In: Math
Question 1 In our lectures, we have discussed different insights of understanding the distinction between fintech and financial innovation. Briefly discuss the difference between fintech and financial innovation using your own words. (Max. 250 words) You are required to use an academic referencing convention. The word count does not include citations.
Question 2 Name the different banks and NBFCs in the Saudi market. List four different innovations that are incorporated in some of these institutes that have disrupted previous services.
Question 3 is an opportunity to explore and refine an idea or area that is of interest to you. Address the following points in your answer: • What is the innovation, technology, or sector you believe is most interesting in financial services? • What are the reasons why you think the context of your choice has the potential to be disrupted by your idea? • What are the potential implications of this new idea within your context? • Justify your response with your own opinion as well as research.
In: Finance
Acme is a monopolist who faces inverse market demand function P (Q, y) = 100 - 2Q + y, where y is the quality level of Acme’s product. Acme has cost function function C(Q) = 20Q.
Suppose quality is costly. Specifically, assume that Acme must pay innovation cost I(y)= (1/4)(y^2). Thus, Acme’s total profits are x(Q,y)=P(Q,y)Q - C(Q) - I(y). Assuming Acme is allowed to act like a monopolist, we will work out Acme’s optimal quality choice, y*.
1. Suppose, for any given quality level γ, Acme is forced to deliver an output level that maximizes aggregate surplus for the given quality level γ.
(a) What is Acme’s optimal innovation choice, γ ∗, in this case?
(b) Determine aggregate surplus for this case.
2. Is it preferable for a social planner to grant Acme a patent for its innovation and thereby allow it to act like a monopolist?
In: Economics
1. Derby Phones is considering the introduction of a new model of headphones with the following price and cost characteristics:
| Sales price | $ | 19 | per unit |
| Variable costs | 6 | per unit | |
| Fixed costs | 20,000 | per month | |
Assume that the projected number of units sold for the month is 6,000. Consider requirements (b), (c), and (d) independently of each other.
Required:
a. What will the operating profit be?
b. What is the impact on operating profit if the sales price decreases by 10 percent? Increases by 20 percent? (Do not round intermediate calculations.)
c. What is the impact on operating profit if variable costs per unit decrease by 10 percent? Increase by 20 percent? (Do not round intermediate calculations.)
d. Suppose that fixed costs for the year are 10 percent lower than projected, and variable costs per unit are 10 percent higher than projected. What impact will these cost changes have on operating profit for the year? Will profit go up? Down? By how much? (Do not round intermediate calculations.)
2. On-the-Go, Inc., produces two models of traveling cases for laptop computers: the Programmer and the Executive. The bags have the following characteristics:
| Programmer | Executive | |||||
| Selling price per bag | $ | 60 | $ | 100 | ||
| Variable cost per bag | $ | 20 | $ | 40 | ||
| Expected sales (bags) per year | 7,000 | 10,500 | ||||
The total fixed costs per year for the company are $667,000.
Required:
a. What is the anticipated level of profits for the expected sales volumes?
b. Assuming that the product mix is the same at the break-even point, compute the break-even point. (Round your final answer up to the nearest whole unit.)
c. If the product sales mix were to change to nine Programmer-style bags for each Executive-style bag, what would be the new break-even volume for On-the-Go? (Round your final answer up to the nearest whole unit.)
In: Accounting