Bendigo Pottery Ltd is a wholesale distributor of hand-made glazed garden pots to retail stores. All garden pots are identical. Details for January 2020 are shown below.

Additional information:

1. Freight costs from the supplier to the Bendigo Pottery Ltd.’s warehouse is $4 for each garden pot.
2. One hundred and eighty (180) of the garden pots on hand at 31 January have imperfections in the glazing and can only be sold for $30 each after handling and repackaging of $10 for each pot.
3. The latest selling price of the garden pots is $84 each.
4. Bendigo Pottery Ltd prepares monthly reports and applies the periodic (physical) and the weighted average cost (WAC) method.

Required:

1. Briefly explain why Bendigo Pottery Ltd uses the weighted average cost flow method for its glazed garden pots.

2. Calculate the value of total closing inventory at 31 January 2020 as provided for in AASB 102. Justify all assumptions and calculations.

3. Prepare the general journal entry at 31 January 2020 for any inventory write down.

Bendigo Pottery Ltd is a wholesale distributor of hand-made glazed garden pots to retail stores. All garden pots are identical. Details for January 2020 are shown below.

Additional information:

1. Freight costs from the supplier to the Bendigo Pottery Ltd.’s warehouse is $4 for each garden pot.
2. One hundred and eighty (180) of the garden pots on hand at 31 January have imperfections in the glazing and can only be sold for $30 each after handling and repackaging of $10 for each pot.
3. The latest selling price of the garden pots is $84 each.
4. Bendigo Pottery Ltd prepares monthly reports and applies the periodic (physical) and the weighted average cost (WAC) method.

Required:

1. Briefly explain why Bendigo Pottery Ltd uses the weighted average cost flow method for its glazed garden pots.

2. Calculate the value of total closing inventory at 31 January 2020 as provided for in AASB 102. Justify all assumptions and calculations.

3. Prepare the general journal entry at 31 January 2020 for any inventory write down.

The following events occurred in independent cases, but in each instance, the event happened after the close of the fiscal year under the audit but before the financial statements were authorised for the issue, which is also the audit report date. For each case, state what impact, if any, you would expect on the financial statements (and notes). The balance sheet in each instance is December 31, 2019.

Case1. On December 31, the commodities handled by the company had been traded on the open market for $1.40 per kilogram. this price had prevailed for two weeks, following an official market report that predicted vastly enlarged supplies; however, no purchases were made $1.40. The price throughout the preceding year, and several prior years, had been about $2. On January 18, 2020, the price returned to $2, following disclosure of an error in the official calculations of the prior December- correction of which destroyed the expectation of excessive supplies. Inventory at December 31, 2019, had been valued on a LCNRN (lower of cost and net realizable value) basis, using the prevailing price known at that time, $1.40.

Case 2. On February 1, 2020, the board of directors adopted a resolution accepting an investment banker’s offer to guarantee the marketing of $100 million of preferred shares.

Case3. On January 22, 2020, one of the auditee’s three major plants burned down, a $50 million loss that was covered to $40 million by insurance.

The Role of Information Technology in Health Care reading outlines a number of different forms of technology. Write a 2 page review of the types of technology in healthcare. Be sure name the technology and how it is intended to improve care and (or) workflow.

Virtual Reality

• What is the basic purpose of this technology?
• In what types of mobile applications can this technology be effectively used and why?
• What are the pros and cons of this technology?
• Are there any other important aspects of this technology that should be provided?

Digital Currency What is the basic purpose of this technology? In what types of mobile applications can this technology be effectively used and why? What are the pros and cons of this technology? Are there any other important aspects of this technology that should be provided?

King Fisher Aviation is considering an investment in a new technology for a drone project with a price of $16 million. Their current technology has a book value of $5 million and a market value of $5 million. The new technology is expected to have a five (5) year life, and the old technology has three (3) years left in which it can be expected to be used. If the firm replaces the old technology with the new technology it expects to save $5.7 million in operating costs each year over the next four years. If the firm purchases the new technology, it will also need an investment of $300,000 in net working capital. The required return on the investment is 12 percent, and the tax rate is 39 percent.

What are your recommendations for investment in the new technology?

King Fisher Aviation is considering an investment in a new technology for a drone project with a price of $16 million. Their current technology has a book value of $5 million and a market value of $5 million. The new technology is expected to have a five (5) year life, and the old technology has three (3) years left in which it can be expected to be used. If the firm replaces the old technology with the new technology it expects to save $5.7 million in operating costs each year over the next four years. If the firm purchases the new technology, it will also need an investment of $300,000 in net working capital. The required return on the investment is 12 percent, and the tax rate is 39 percent. What are the NPV and IRR of the decision to replace the old technology?

1. Solve the following questions.

a) Suppose Rosie's mum is considering purchasing a financial asset that promises to pay $2,500 per year for six years, with the first payment one year from now. The required return is 11% per year. How much should Rosie's mum pay for this asset?

b) For the year 2000, Coca-Cola Company, recorded net sales of $7,368 million. For 2010, Coca-Cola recorded net sales of $11,245 million. Over the ten-year period from the end of fiscal year 2000 to the end of 2010, What is the Coca-Cola's growth rate?

c) Leo is planning to purchase a home for $550,000 in Charleston, SC. He intends making a down payment of $50,000 and borrowing the remaining amount with a 30-year fixed rate mortgage with monthly payments. The first payment is due a month from now. The current mortgage rates are quoted at 4% per year with a monthly compounding. How much would Leo's monthly mortgage payment be?

d) Clementine is the lucky winner of the Georgia lottery of $50 million after taxes. He invests his winnings in a 10-year certificate of deposit (CD) at the Lawrenceville Credit Union. The CD promises to pay 6% per year, compounded quarterly. The credit union allows investors to reinvest the interest at that rate for the duration of the CD. How much will Clementine have at the end of ten years if his money remains invested at 6% for ten years with no withdrawals?

e) Caillou is interested in determining how long it will take an investment of $20,000 to double. The current interest rate is an interest rate of 10%?

Iceland has no minimum wage. Instead, employers negotiate salaries with collective groups or unions who represent the employees. You must be 18 to work full-time in Iceland. However, mandatory school ends at age 16 and teen workers between the ages of 15 and 18 are highly unemployed. Salaries are high in Iceland because of the small population, universal health care, the high cost of living, and the fact that 88% of the population lives in and around the capital, Reykjavik. Still it is one of the poorest countries in Europe. Youth unemployment is extremely high. Josh has discovered that if he hires young people between the ages of (15-18) part-time or no more than 40 hours a week, he can negotiate a much lower salary. The average salary amounts to $12.50 an hour.. Josh staffs young people exclusively and lets them go before they reach the age of 19. Two recent lay-offs has brought this practice to the attention of the staff who feel the practice is not ethical. The workers feel Josh is trying to use the system to avoid paying the workers a decent wage or to gain full time employment. If Josh does not settle this issue quickly, because the workers will go back to the Collective to ask for higher wages and a guarantee of work after they turn 19. Worse yet, if Jolly Jump’s US teens get wind of the hourly salary difference, they may very well come to expect a large raise.

Are Josh’s employment practices unethical?

Would his actions be considered unethical in the United States?

Discuss the ethics of doing business in another country and cultural relativism.