Apple Limited has a 100% holding in Picnic Limited
Apple Limited runs a distillery in northern Tasmania supplying its highly acclaimed gin across the globe. This business was severely affected by the Corona Virus pandemic and the directors decided to use the now spare capacity for the provision of medical supplies. Specialists from Picnic Limited assisted by converting the stills from making gin to producing hand sanitiser. During this period Picnic Limited charged Apple Limited $145 000 for the expertise provided.
Prepare the Consolidation Adjusting Journal Entries for the consolidated financial statements as at 30 June 2020 by eliminating the intragroup service provision.
In: Accounting
Contrail Air Inc. runs a small drone manufacturing business. For this year, the company expects real net cash flow of $210,000. The company expects its cash flow to erode at a rate of 5% percent per year in perpetuity. The appropriate real discount rate for the company is 12% percent. Assume all cash flows received at the end of the year.
What is the present value of the cash flows?
| Cash flow | $210,000 |
| Cash flow growth rate | -5% |
| Required return | 12% |
| $1,235,294.12 |
| $(87,500.00) |
| $(35,000,000.00) |
| $3,000,000.00 |
In: Accounting
5. If a country runs a current account surplus and national private savings equals domestic investment, then the combined governmental accounts must be ________. A) balanced B) in deficit C) in surplus D) could be either negative or positive, depending on the capital account. 6. For an economy, if its national saving is greater than its domestic investment, then which of the following is true? A) this economy must have a current account surplus. B) this economy must have a financial account surplus. C) this economy’s government budget must be in surplus. D) all of the above.
In: Economics
1.
The firm's short-run supply curve runs up the marginal cost curve
|
a |
to the shutdown point. |
|
b |
from the shutdown point all the way up the curve. |
|
c |
to the break-even point. |
|
d |
from the break-even point all the way up the curve. |
2.
When marginal cost is greater than marginal revenue, the monopolist can increase its profit or minimize its loss by
|
a |
expanding output. |
|
b |
reducing output. |
|
c |
lowering price. |
|
d |
producing where price = ATC. |
3.
Which statement is true?
|
a |
A firm will always produce at an output corresponding to the minimum point of its ATC curve. |
|
b |
Efficiency and profit maximization always occur at the same output. |
|
c |
A firm will operate in the short run if total revenue is greater than variable costs. |
|
d |
The rule for maximizing profits is different than the rule for minimizing losses. |
In: Economics
A pizza delivery driver, always trying to increase tips, runs an experiment on his next 90 deliveries. He flips a coin to decide whether or not to call a customer from his mobile phone when he is five minutes away, hoping this slight bump in customer service will lead to a slight bump in tips. After 90 deliveries, he will compare the average tip percentage between the customers he called and those he did not.
g) Is the experiment blind? Can it be double-blind? Explain.
h) Name some confounding variables that might influence the experiment's results.
In: Statistics and Probability
Can we predict the running time for Mr. Degges when he runs 3.1 miles on the track at the NDSU Wellness center?
Need: SAS output to analyze the model
Need: prediction equation
y-hat
SSE SST, error, F-test
What variables are significant
The variables are: Y = running time in minutes X1 = weight at the time of running X2 = number of days between running events
Year X1 X2 Y
2009 191.2 1 29.0
2009 192 1 27.80
2009 190.4 2 28.53
2009 190.4 3 28.10
2009 190.6 2 28
2009 190.6 0 27.43
2009 190.2 0 28
2009 191.8 1 27.27
2009 189.2 12 30.52
2009 189.2 0 28.95
2009 190.2 2 29.08
2015 168.6 14 29.92
2015 166.2 4 29.83
2015 165.0 2 28.37
2015 169.8 6 27.25
2015 169.4 4 27.85
2015 167.2 3 27.58
2015 166.6 2 27.10
In: Statistics and Probability
1. An oil tanker belonging to Oil Finders, Inc. runs aground and causes a massive oil spill that damages several miles of the Texas coastline. As a result, several public beaches are rendered unusable to the public. Riker and Picard are avid surfers who like to hit the waves as often as they can. Because of the oil spill, they will not be able to surf for at least six months. They file suit against Oil Finders, Inc. for nuisance. Will the court hear their suit? Defend your answer.
2. An oil tanker belonging to Oil Finders, Inc. runs aground and causes a massive oil spill that damages several miles of the Texas coastline. As a result, several public beaches are rendered unusable to the public. Riker and Picard make their living harvesting clams and oysters at the various beaches in the area and their business has been destroyed as a result of the oil spill. They file suit against Oil Finders, Inc. for nuisance. Will the court hear their suit? Defend your answer.
3.John and Kelsey live in a house in Missouri that they purchased for $250,000. The town has never had a garbage dump and the city government has spent millions of dollars over the years sending the town's trash to a dump located in a different part of the state. In order to save money, the town contracts with Mr. Barr, the president of a waste management company, to build and maintain a landfill at the edge of the town. Within six months, the landfill is operational. Eventually, as more and more of the town's trash gets dumped into the landfill, the residents of the town are subjected to the odor that the landfill gives off. The odor is not constant but, on windy days, it is noticeable. As a result, the house that John and Kelsey bought for $250,000 is reduced in value to $240,000. If John sues the town for nuisance, which of the following is most likely to occur?
Defend your answer/ Win, because his house's value has been reduced.
Win, because John moved to the neighborhood before the landfill opened.
Lose, because the odor is not constant. Lose, because benefits of the landfill outweigh the damage done to John.
In: Economics
Dana, who around the city is generally referred to simply as "The Dane," runs an illegal gambling joint. Here are her income and expenses. Calculate her net taxable income from the gambling joint.
Gross Income/Sales $300,000
Expenses
Rent $30,000
Maintenance and Cleaning $6,000
Bribes to police and inspectors $20,000
Supplies $4,000
Food and drink costs $15,000
Accounting and Legal $10,000
Fines and penalties paid $8,000
Depreciation $10,000
In: Accounting
1. Khalif runs a full lap around a circular track of
radius 20 m in 100 s. What is the
magnitude of his average velocity?
2. A 10 Newton force is needed to move an object with a constant
velocity of 5.0 m/s.
What power must be delivered to the object by the force?
3. A ball is kicked horizontally with an initial speed of 8.0 m/s from the edge of a cliff. A stop watch measures the ball’s trajectory time from top of cliff to bottom to be 3.4 s. What is the height of the cliff AND range of the ball?
4. A 10 Newton force is needed to move an object with a constant velocity of 5.0 m/s. What power must be delivered to the object by the force?
5. An object weighs 100 N on the surface of Earth.
What is the mass of this object on the
surface of the Moon where the acceleration due to gravity is 1.7
ms^−2?
In: Physics
Question: Mr Ahmed
Kumar runs a snack distribution business located in the Light
Industrial area in Lusaka....
Mr Ahmed Kumar runs a snack distribution business located in the
Light Industrial area in Lusaka. The following list of balances was
extracted from his ledger as at 31 March, 2020; the end of his most
recent financial year.
K
Capital 83,887
Sales 259,870
Trade accounts payable 19,840
Returns outwards 13,407
Allowance for doubtful debts 512
Discounts allowed 2,306
Discounts received 1,750
Purchases 135,680
Returns inwards 5,624
Carriage outwards 4,562
Drawings 18,440
Carriage inwards 11,830
Rent, rates and insurance 25,973
Heating and lighting 11,010
Postage, stationery and telephone 2,410
Advertising 5,980
Salaries and wages 38,521
Bad debts 2,008
Cash in hand 534
Cash at bank 4,440
Inventory as at 1st April 2019 15,654
Trade accounts receivable 24,500
Fixtures and fittings - at cost 120,740
Prov. for depreciation on fixtures and fittings – 31/03/2020 63,020
Depreciation 12,074
The following additional information as at 31st March, 2020 is available:
(a) Inventory at the close of business was valued at K17,750
(b) Insurances have been prepaid by K1,120
(c) Heating and lighting is accrued by K1,360
(d) Rates have been prepaid by K5,435
(e) The allowance for doubtful debts is to be adjusted so that it is 3% of trade accounts receivable.
Required:
For the year 2020, prepare Mr Kumar’s:
Unadjusted Trial Balance as at 31st March,
2020.
[10
Marks]
General Journal recording the adjustments highlighted
above.
[10
Marks]
Trading, Profit or Loss statement for the year ended
31st March, 2020.
[10 Marks]
Statement of financial position as at 31st
March, 2020.
[10
Marks]
[
In: Accounting