|
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
In “Sonny’s Blues,” what does the narrator mean when he states, “Freedom lurked around us and I understood, at last, that [Sonny] could help us to be free if we would listen, that he would never be free until we did”? How does this quote tie into the collective past suffering of African Americans? How does this quote help us understand the story’s meaning? Explain.
In: Psychology
Introversion and Extraversion characteristics and their effects on Marital bliss? (title) and
The variables introversion and extraversion are known to have varying effects on individuals
lives and collective lives and on the levels of happiness. The aim is to measure the synergistic
affect between the two and the happiness index as a result, being my hypothesis.What is the null hypothesis? What would be the
best amount of participants i should for this study? Why? What would be
best inclusion characteristics?
In: Psychology
1. There are a considerable number of laws centered around labor relations and collective bargaining. Why do you think this area seems to have so many different laws compared to wages (FLSA) or safety (OSHA), for example?
2. Hawai`i has a large number of unionized employees compared to many other states. Why do you think Hawai`i has so many unions?
In: Operations Management
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
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
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