Important: Interview with a Registered Nurse (supervisor, manager, or director). This assignment is about a true dilemma, not just a disagreement or a difference in opinion. If you are not able to write about a true dilemma go to second section of the homework. Please find a charge nurse, nurse manager, or director of nursing for this interview. Approach this situation with care and respect for privacy. No actual name may be used in this document. The person you are interviewing must be named “Nurse N”. The person that the interview is going to be about must be named “Person P”. “Person P” may be a vendor, patient, or a staff member. Ask “Nurse N” about a specific time that he/she had to deal with a serious ethical decision or dilemma. What type of person was the ethical issue was concerning? a) Patient b) Staff c) Vendor d) Other What was the ethical principle being violated, applied, considered, or discussed? (You may need to give hints to your interviewee.) a) _________________ Discuss how the issue was resolved a) Complete satisfaction b) Partial satisfaction c) Referred to another entity for assistance d) Still unresolved Submit the interview in a report no more than 400 words with a short introduction and to end with your point of view about the whole issue.

SCENARIO 3

You are considering introducing a French cosmetic facial spray mist and a body spray made of gold, cashmere and vitamins. The products are not yet in Johannesburg. The product can be used before makeup and after makeup as a setting spray. The target group of the products are men and women who are interested in cosmetics and have an income of between ZAR 40 000 and 70 000.

You are now working on a research method for your research project. You read in the literature of positioning that you need to first do an interview with current clients of the products and after that you have to do a survey in the new market.

You are thinking of doing interviews. You are not sure if you can do only an interview with people in Johannesburg about their perception on the facial spray mist they use. There are more than 5 million people in Johannesburg.

QUESTION 3                                                                                                                                                                                       [15 marks]

Critically discuss why the literature is significant? Would it be sufficient doing an interview with 25 people; if not, how many people should you interview in order for the sample to be representative of the population.

Would you also consider questionnaire as a method of data collection? Why or why not? Using a relevant conceptual discussion, analyse in detail, with application of the scenario provided.

The following information applies to the questions displayed below.]

Laker Company reported the following January purchases and sales data for its only product.

Date Activities Units Acquired at Cost Units sold at Retail
Jan. 1   Beginning inventory 180 units @ $ 7.60 = $ 1,368
Jan. 10   Sales 105 units @ $ 15.60
Jan. 20   Purchase 250 units @ $ 6.60 = 1,650
Jan. 25   Sales 175 units @ $ 15.60
Jan. 30   Purchase 120 units @ $ 5.60 = 672




  Totals 550 units $ 3,690 280 units

Required:

The company uses a perpetual inventory system. For specific identification, ending inventory consists of 270 units, where 120 are from the January 30 purchase, 80 are from the January 20 purchase, and 70 are from beginning inventory.

1. On December 31, 2020, for GAAP purposes, Clubs Inc. reported a balance of $40,000 in a warranty liability for anticipated costs to satisfy future warranty claims. No claims were paid in 2020. Pretax GAAP income is $300,000 and the tax rate is 25%. Assume no other differences between the tax bases and GAAP bases of assets and liabilities, or any beginning balances in deferred tax accounts.

Required:

1. Record the income tax journal entry on December 31, 2020.

___________________________________              ____________            _____________

            ___________________________________              ____________            _____________

            ___________________________________              ____________            _____________

            ___________________________________              ____________            _____________

b. Assume that there was a December 31, 2019, balance of $4,000 in the DTA account. Record the income tax journal entry on December 31, 2020.

___________________________________              ____________            _____________

            ___________________________________             ____________            _____________

            ___________________________________              ____________            _____________

            ___________________________________              ____________            _____________

2. In 2020, Cardinals Company operated at a tax loss, totaling $88,000 during its first year of business. Assuming a tax rate of 25%, and that income is expected in 2021, record the entry to reflect the tax benefit of the net operating loss on December 31, 2020. Cardinals Company determined that it was more likely than not that 75% of the deferred tax asset would not be realized.

___________________________________              ____________            _____________

            ___________________________________              ____________            _____________

            ___________________________________              ____________            _____________

            ___________________________________              ____________            _____________

___________________________________              ____________            _____________

            ___________________________________              ____________            _____________

            ___________________________________              ____________            _____________

            ___________________________________              ____________            _____________

Part (A)

As at year ended 31 March 2019, the total carrying value of property, plant and equipment on the statement of financial position of Candy Limited was $720,000. The current assets as at year ended 2019 included interest receivable of $10,000. The related interest revenue would be taxed on a cash basis.

Property, plant and equipment included furniture and computer equipment. Furniture was acquired on 1 April 2016 at a cost of $800,000. The company purchased the computer equipment during the year 2019 for $600,000.

It is Candy Limited’s accounting policy to measure its property, plant and equipment at cost less accumulated depreciation. Accounting depreciation is provided on a straight-line basis over the useful life of the asset:

Furniture 5 years Computer Equipment 3 years

Full year depreciation will be provided for in the year of purchase and nil residual value is assumed.

As at 31 March 2018, the balances of deferred tax accounts in the statement of financial position were:

Deferred tax asset $16,000 (coming from tax losses carried forward) Deferred tax liability $96,000

As at 31 March 2019, tax depreciation of $800,000 had been allowed for furniture. The tax authority allows full deduction on the cost of any computer equipment in the year of purchase. For the year ended 31 March 2019, a tax loss of $40,000 was computed. All tax losses will be allowed to set off the future profits for tax purpose. As at 31 March 2019, the management estimated the taxable profits for the forthcoming years as follows:

2020
2021
2022 and beyond

$50,000 $40,000

No estimation is available The announced income tax rates for 2018 and thereafter was 20%.

5

Required:

(a) Prepare a table showing the temporary differences (1) furniture (2) computer equipment (3) interest receivable, with the following column headings as at 31 March 2019:

Carrying Deductible temporary Taxable temporary Item amount Tax base difference difference

[6 marks]

(b) Compute the deferred tax asset / liability related to (1) furniture (2) computer equipment (3) interest receivable for the year ended at 31 March 2019. [2 marks]

(c) Provide accounting entries for the adjustments of the deferred tax asset / liability for the year of 2019. Show your workings. Narratives are not required. [5 marks]

Part B

Sea Ltd. commenced its business in 2019. The company incurred a tax loss of $150,000 for the year ended 31 December 2019. It is expected that the company will not incur losses again and will be able to generate future taxable profits of $160,000. The tax rate for 2019 and thereafter is 30%.

Required:

(a) Provide the journal entries to record deferred tax regarding the tax loss in year 2019.

[2 marks]

(b) Assume the actual taxable profit for the year ended 31 December 2020 is $40,000 and the management of the company based on new information estimates the future taxable profits as $90,000 on 31 December 2021. Prepare the relevant journal entries for the year 2020.

Show all workings. Narratives are not required.

The balance date for this company is 31^st March 2020. You are to record the effect of each transaction on the extended accounting equation using the table on the next page (page 5). Include all balance day adjustments where applicable. The first example illustrates how you would record the answers on the table.

1. Purchased inventory for $55,000. Paid half upon the receipt of the inventory and the remainder on credit.

1. Depreciate the equipment at balance date. Cost of equipment is $40,000 and the expected salvage value at the end of 5 years is $5,000. The equipment was purchased on 1^st September 2019. Use the straight line depreciation for this business.

2. Sold an old equipment for $12,000. The cost of the equipment was $50,000 and it has an accumulated depreciation to date of $42,000.

3. Paid the supplier promptly as a 10% discount was offered for an amount owing of $10,000.

4. Paid the annual insurance of $24,000 on 1^st Feb 2020.

5. Invested $20,000 with the bank on 1^st January 2020 with an interest rate of 3.5% per annum. The interest was shown in the business bank account on 2^nd April 2020.

6. Sold inventory on credit for $17,000 (cost is $9,000).

7. Weekly wages of $50,000 was paid on 3^rd April 2020. The wages was for the period 29^th March to 2^nd April 2020.

8. Repaid the bank loan: $50,000 principal and $4,000 interest.

1. Received from debtor the full amount owing of $17,000 less 3% discount for early repayment.

10. Received $5,000 deposit from a supplier on 1^st March 2020 for the sale of inventory to be delivered on 7^th April 2020.

11. Dividends paid to the owners of $2,000.

Extended Accounting Equation: Asset + Expenses = Liabilities + Equity + Revenue

1. Endotoxin is a major cause of septic shock. Describe
   1. (2 pts) where endotoxin comes from,

2. (4 pts) the specific steps the innate and acquired immune system takes to respond to endotoxin in the blood stream. Explain the steps from the recognition of endotoxin by the innate immune system to the response by the acquired immune system.

3. (2 pts) how the immune system response leads to septic shock.

D & B Enterprises is a cah basis taxpayer who makes widgets. It sell the widget for $500,000 in gross receips through December 2012. The company also received $200,000 from a life insurance policy that it received after the death of Russell, it's chief financial officer. Then on December 28, it recives payment in the amount of $100,000 for an order of widgets which it sent to the customer on December 20. Avon, the CEO, cashes the check on January 3 and then on January 7 uses it for payroll. The company also has an investment account that has $100,000 invested in State bonds which earned $3,400 in interest during the year. Avon comes to you regarding his 2012 tax liability and ask you what his taxable income is and why?

Short Answer - MORAKE
Must Include Supporting Documentation in File Upload portion of exam. Please label page as "Morake."

The following stockholders' equity section was taken from the books of Morake & Berg, Inc on January 1, 2020.

REQUIRED:
Based on the information above, please answer the following questions as of December 31, 2020. Your supporting documentation should clearly show how you arrived at the answers you provide below given (a) through (f) above. You may opt to show your work using journal entries, T-accounts, or a clear calculation of what is increasing/decreasing each account.

1. What is the 12/31/2020 balance of Additional Paid-in-Capital for Common Stock?   

2. What is the 12/31/2020 balance of Treasury Stock?   

3. What is the 12/31/2020 balance of Retained Earnings?