Section 03: Inventory
South City is a construction company which builds houses, offices and hotels. Materials
(cement, bricks, etc…) are purchased from a large number of suppliers. As a member of the
audit team, you are required to attend the inventory count of South City. On the day of the
inventory count, you attended the warehouse premises of South City and observed the
following activities:
 Pre-numbered count sheets were being issued to the client's staff carrying out the count.
The count sheets showed the inventory ledger balances for checking against physical
inventory.
 All count staff were warehouse staff and they were counting in teams of two.
 Information was recorded on the count sheets in pencil so amendments could be made
easily as required.
 At the end of the count, all count sheets were collected and the numeric sequence of the
sheets checked; the sheets were not signed.
Required
(i) In respect of your attendance at South City Co's inventory count, state one test of
control and one substantive procedure that you should perform.
(ii) List four audit procedures that an auditor will normally perform prior to attending the
client's premises on the day of the inventory count.
(iii) List two deficiencies in the control system for counting inventory at store and state how
that deficiency can be overcome.

Rand Medical manufactures lithotripters. Lithotripsy uses shock waves instead of surgery to eliminate kidney stones. Physicians’ Leasing purchased a lithotripter from Rand for $2,000,000 and leased it to Mid-South Urologists Group, Inc., on January 1, 2016.

Collectibility of the lease payments is reasonably assured, and there are no lessor costs yet to be incurred.

Required:

1.  How should this lease be classified by Mid-South Urologists Group and by Physicians’ Leasing?

2.  Prepare appropriate entries for both Mid-South Urologists Group and Physicians’ Leasing from the inception of the lease through the second rental payment on April 1, 2016. Depreciation is recorded at the end of each fiscal year (December 31).

3.  Assume Mid-South Urologists Group leased the lithotripter directly from the manufacturer, Rand Medical, which produced the machine at a cost of $1.7 million. Prepare appropriate entries for Rand Medical from the inception of the lease through the second lease payment on April 1, 2016.

1. ( six parts) Harmony is a South African mining company that sells gold globally. Gold is priced in dollars but South African miners are paid in rand (“rand” is the South African currency). The current price of gold is $1,288 an ounce. The current exchange rate is 8.62 rand (R) per $1. Harmony’s current costs are R10,930 per ounce. Expected one-year inflation rates are 2% in the U.S. and 8% in South Africa. [Note that the “ounces” in this case are like “BMW cars” in quiz 6, but the questions below are per ounce, or “per car”]

a) (3points) How much profit per ounce is Harmony currently generating (in rands)?

b) (3 points) What exchange rate does PPP predict in one year?

c) (3 points) What level of revenues in one year would maintain Harmony’s profitability in real (inflation-adjusted) terms?

d) (3 points) If in one year the actual exchange rate is R6.60 per $1, has the rand appreciated or depreciated against the dollar in nominal terms?

e) (3 points) Based on the exchange rate in d), what will be Harmony’s profit per ounce in one year?

f) (3 points) State whether Harmony benefits from an appreciation or depreciation of the dollar against the rand?

Given a balanced three-phase delta-connected generator with positive sequence and voltage Vbc=350∠−90∘Vbc=350∠−90∘ Vrms. The generator feeds a balanced three-phase delta-connected load having an impedance of 43.5+j27 Ω/phase. The impedance of the line connecting the generator to the load is 1.5+j1 Ω/phase.  i) Calculate the total real power consumed by the load. [5] ii) Calculate the percentage of the total available real power lost in the lines.[3]

When would you exercise an American call option? When would you exercise an American put option?

Recent research suggests that many American have deficient magnesium levels. Vitamin D, which increases calcium and phosphate levels, cannot be metabolized without magnesium, but this study suggests that many American are consuming only half the recommended daily allowance of magnesium. A random sample of 1200 American was selected, and each was tested for magnesium level. In total, 540 were found to have deficient magnesium levels.

a) Find the value of the point estimate of the true proportion of American who have deficient magnesium levels.
b) Construct a 95% confidence interval for the percentage of all American who have deficient magnesium levels.
c) Interpret the resulting confidence interval in part (b).
d) Suppose the confidence interval obtained in part (b) is too wide. How can the width of this interval be reduced? Discuss all possible alternatives. Which alternative is the best?
e) The American Medical Association claims that less than 50% of American who are magnesium deficient. Can we believe this claim? Use ?=0.02 and the critical value approach.
f) Assume that we want to select another sample to construct a 92% confidence interval for the percentage of all American who have deficient magnesium level with a margin of error of 0.02. Using the above sample as a preliminary study, determine the minimum sample size needed to select the new sample in this case.

For this assignment, you will need any computer running PowerShell v5 or later. Your answer should only include the function or the script files that generate the results.

1. The Get-ChildItem cmdlet is very useful in obtaining files and directory information. Your challenge is to create a PowerShell function that displays all ‘.exe’ and ‘.dll’ files stored under C:\Windows\System32, whose size is more than 5 MB. Group the files based on their extension and store the list into a text file.

"You will need to compile each Java source file (provided below) separately, in its own file since they are public classes, to create a .class file for each, ideally keeping them all in the same directory."

My class is asking me to do this and i am not understanding how to do it. I use JGRASP for all of my coding and i can't find a tutorial on how to do it. I just need a step by step tutorial on how to do this inheritance thing on JGRASP.

For this assignment, you will need any computer running PowerShell v5 or later. Your answer should only include the function or the script files that generate the results.

1. The Get-ChildItem cmdlet is very useful in obtaining files and directory information. Your challenge is to create a PowerShell function that displays all ‘.exe’ and ‘.dll’ files stored under C:\Windows\System32, whose size is more than 5 MB. Group the files based on their extension and store the list into a text file.