Find the closed form for the following series: 1 + x2 + x3 + … + xn where x is constant and x > 1

Commercial Law I Assessment 3 - CASE STUDY/RESEARCH REPORT - Due Week 11 – 30% weighting

PART A – Case Study – 1000 words

Audrey is employed as the Events Manager for NSW Wealth Managers Association headquartered in Sydney and she has the responsibility for arranging the annual member’s conference. The theme of this year’s conference is ‘investment and superannuation’ and Audrey’s role is to ensure that all of the delegate’s requirements are met including accommodation, food, clothing, and travel. The annual conference will be held in Surfers Paradise, QLD this year and Audrey has to organise everything. Audrey starts by looking up the website of XYZ Tours in order to book a bus for the purpose of the delegate’s travel to and from the hotel to the conference centre during the 5 day visit to Surfers Paradise. The website clearly states that all bookings must be online. Audrey telephones the company on 1 February 2020 and has a general discussion with Tommy, the company representative, about the availability of a bus, the dates and prices. She does not specifically confirm a booking or pay a deposit in that conversation. A week later on 8 February 2020, Audrey posts a letter to XYZ Tours’ office in Surfers Paradise stating that she wishes to proceed with her booking as discussed with Tommy. In addition to the ‘booking’ that she makes with XYZ Tours, Audrey books all the accommodation and other conference and travel activities through ‘A Class Travel’ a travel agency. In August, Audrey realises that she has not yet organised any of the specially made jackets which the delegates will wear during the conference. She goes to ‘DEX Outfitters” to make these arrangements. She orders the jackets to be made with ‘NSW Wealth Managers Association – Annual Conference 2020’ embroidered on the pocket. Audrey agrees to buy the jackets for $275 each after the shop owner says “Trust me, I have been in business for 20 years and my clothing is made from the finest quality cotton and workmanship. You will have no problems with the clothing. Look at this quality. I promise you that nothing will go wrong.” Audrey is so stressed that she has left things to the last minute and tells the shop owner that if he does not provide the clothing within 14 days she will destroy him and his business. When the clothing finally arrives Audrey discovers the jackets are not made from cotton and the logo says “2010” rather than “2020”. One week before the delegation is due to travel from Sydney to Surfers Paradise, the QLD Premier declares a state of emergency as a result of the worsening coronavirus pandemic and spreading infections, and decides to close all the borders. All flights are cancelled and all roads into QLD are closed. As a result, all event gatherings are prohibited until further notice. ACBUS201A – S2 2021 Assessment 31/8/2020 Required: Based on the above information and your knowledge of Australian contract and consumer law, answer the following questions. 1. Outline and describe any legal contractual issues in relation to Audrey’s booking with “XYZ Tours” and whether or not she/NSW Wealth Managers Association has/have a contractual arrangement with them. Use relevant cases to support your answer. 2. Outline and describe whether or not Audrey’s conduct towards the shop owner at ‘DEX Outfitters” has any impact on the contract she has agreed to for the manufacture of the delegate’s jackets. Use relevant cases to support your answer. 3. Advise Audrey if her contract with ‘A Class Travel’ is enforceable, given the state of emergency declaration, worsening coronavirus pandemic and the subsequent cancellation of all event gatherings. Use relevant cases to support your answer. 4. Due to great disappointment following the cancellation of their annual conference in Surfers Paradise, the NSW Wealth Managers Association decides to reschedule the conference to Katoomba in the Blue Mountains region of NSW. Unfortunately this trip is a complete disaster, as the travel agent Audrey used failed to make bookings adequately to accommodate the whole delegation, didn’t book enough tickets to the scenic mountains tour and failed to adequately cater for all attendees at the closing dinner. With reference to this additional information, outline whether or not Audrey and/or the NSW Wealth Managers Association may sue for damages? Fully explain your answer and use relevant cases to support your answer. 5. For the purposes of the Australian Consumer Law (ACL) discuss whether or not Audrey would be a Consumer in her dealings with ‘DEX Outfitters’. 6. Has the shop owner of ‘DEX Outfitters’ committed a breach of the Australian Consumer Law (ACL) in relation to his statement “Trust me, I have been in business for 20 years and my clothing is made from the finest quality cotton and workmanship. You will have no problems with the clothing. Look at this quality. I promise that nothing will go wrong” and the circumstances surrounding the jackets received by Audrey? Use relevant cases to support your answer.

Question 1: Preparation and Presentation of the Balance Sheet/Statement of Financial Position
Upside-Down Trading Limited, a company listed on the Music Stock Exchange, is a trading and investment
entity. The company trades exclusively in steel and aluminium component, and also has an investing arm.
Upside-Down Trading Limited have just engaged you as their finance director to assist in the preparation
of the entity’s 2021 financial statements. The financial period of the company is from September 1 to
August 31.
The company has provided you the following list of accounts, and the trial balance totals per each account,
as at end of their current final year:
Account Name Trial Balance Figure
11% Debentures $50,000,000
7% Bonds (Due in Less than 12 Months) $5,000,000
Accounts Payable $15,890,000
Accounts Receivables $14,500,000
Cash and Cash Equivalents $11,950,000
Copyright and R&D $4,100,000
Cost of Goods Sold $56,100,390
Current Tax Liabilities $6,900,000
Employee Benefit Obligations $8,100,000
Finance Expenses $4,502,000
Goodwill $18,540,000
Inventory $75,650,000
Loans Due in Less than 12 Months $16,850,000
Long-Term Investments $196,000,000
Long-Term Loans $215,580,000
Loss on Sale of Equipment $5,100,450
Other Payables $1,830,000
Other Receivables (Due in more than 12 Months) $1,520,000
Paid-Up Capital $218,702,000
Plant and Equipment $168,221,000
Prepaid Expenses $5,020,000
Property $312,512,000
Reserves $150,072,000
Retained Earnings $122,589,000
Sales Revenue $158,900,000
Short-Term Investments $6,500,000
Additional Information:
1. During the year, Upside-Down Trading Limited purchased $7,000,000 worth of machine
equipment that has yet to be added to the relevant non-current asset account.
2. For the period ended August 31, 2021, Upside-Down Global Trading Limited recorded a loss of
$7,500,000. This amount has already been closed to the Retained Earnings balance as per the trial
balance.

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3. The internal auditor found from a recent review that $4,000,000 of loans listed as being payable in
next 12 months are not due till 2026.
4. All prepaid expenses are expected to be consumed by the end of December 31, 2021.
5. Upside Down Trading Limited has been offered $15,000,000 to sell its properties. The transaction
would – if accepted – be accepted in June 2028.
6. In 2019 the company sold property valued at $19,000,000 for $26,000,000. The company is of the
opinion that in 2024 it will purchase property to the value of $11,000,000.
7. The value of the Inventory as shown in the trial balance is the net realizable value. The value of
inventory at cost is $65,650,000.
Required:
Using the information supplied, prepare a balance sheet/statement of financial position for Upside-Down
Trading Limited for the end of 2025 that conforms with IFRS IAS 1 recommendations and requirements of
the course.

justify your answer with all steps clearly please (NOT HAND WRITING ) thanks

Question 1: Preparation and Presentation of the Balance Sheet/Statement of Financial Position

Upside-Down Trading Limited, a company listed on the Music Stock Exchange, is a trading and investment entity. The company trades exclusively in steel and aluminium component, and also has an investing arm.

Upside-Down Trading Limited have just engaged you as their finance director to assist in the preparation of the entity’s 2021 financial statements. The financial period of the company is from September 1 to August 31.

The company has provided you the following list of accounts, and the trial balance totals per each account, as at end of their current final year:

Additional Information:

1. During the year, Upside-Down Trading Limited purchased $7,000,000 worth of machine equipment that has yet to be added to the relevant non-current asset account.
2. For the period ended August 31, 2021, Upside-Down Global Trading Limited recorded a loss of $7,500,000. This amount has already been closed to the Retained Earnings balance as per the trial balance.
3. The internal auditor found from a recent review that $4,000,000 of loans listed as being payable in next 12 months are not due till 2026.
4. All prepaid expenses are expected to be consumed by the end of December 31, 2021.
5. Upside Down Trading Limited has been offered $15,000,000 to sell its properties. The transaction would – if accepted – be accepted in June 2028.
6. In 2019 the company sold property valued at $19,000,000 for $26,000,000. The company is of the opinion that in 2024 it will purchase property to the value of $11,000,000.
7. The value of the Inventory as shown in the trial balance is the net realizable value. The value of inventory at cost is $65,650,000.

Required:

Using the information supplied, prepare a balance sheet/statement of financial position for Upside-Down Trading Limited for the end of 2025 that conforms with IFRS IAS 1 recommendations and requirements of the course.

1. What is the difference between Open and Closed Circulatory Systems?
2. What is the difference between atrioventricular and semilunar valves?

How would you track any changes to transactions within the closed period of a QuickBooks Online company?

Less complex organisms like tapeworms and insects possess a ____________ circulatory system.

intermediate

closed

open

hyper

What initial conditions would make it likely that a closed and open economy would fall into a deflation trap? .

Identify and discuss the strengths and weaknesses of each of the following:

            a.   open-ended questions

            b.   closed-ended questions