This question relates to 'prime editing':

Describe (briefly) the scientific principle behind how the technology works. This may be complex and the goal here is to not get bogged down in so much detail that this becomes incomprehensible.

Inventions become innovations when they are refined to such an extent that they continue to
be successful in the market long after they were first invented. This is directly adding
significant value to consumers such as adding new personalities and characteristics to
products to suit and adapt to consumers’ ever-changing needs. The ultimate objective of
innovation is to create sustainable growth that leads to a competitive advantage. To bring
innovation into the market, companies need to conceive an invention and create a value chain
around it.
Innovation is not only about being creative or inventing something new. It is also about using
knowledge to solve problems. It is about adding value to our work and this can result in a
better product or service. There are four basic types of innovation which are basic, sustaining,
disruptive and breakthrough innovation.

Write an article to depict the four basic types of innovations using ONE example for each
type of innovation. The article must consist of:
i. An introduction section to explain innovation and the basic types of innovation.

What are the similarities and differences between discovery driven innovation and needs driven innovation? How successful would a discovery driven innovation be in the health care setting versus a needs driven health innovation?

Tanner (2012) stated that “no idea is too crazy or too wild”. What is meant by that statement? Explain how you have seen this implemented during a brainstorming session.

Do you agree that an organization that is not capable of innovation is doomed to decline and become extinct? What criteria would you use to assess whether or not the organization is innovating effectively?

Read the Criminal Justice Mental Health Court article on pages 15-18 of your course textbook. What were the assumptions that informed the design of this innovation? What is your initial reaction to this particular needs driven innovation?

1. PLEASE ANSWER AT LEAST ONE OF THE FOLLOWING PROBLEMS

Installment sales.

Sawyer Furniture Company concluded its first year of operations in which it made sales of $800,000, all on installment. Collections during the year from down payments and installments totaled $300,000. Purchases for the year totaled $400,000; the cost of merchandise on hand at the end of the year was $80,000.

Instructions

Using the installment-sales method, make summary entries to record:

(a)   the installment sales and cash collections;

(b)   the cost of installment sales;

(c)   the unrealized gross profit;

(d)   the realized gross profit.

2. PLEASE ANSWER AT LEAST ONE OF THE FOLLOWING PROBLEMS

Percentage-of-completion method.

Penner Builders contracted to build a high-rise for $14,000,000. Construction began in 2010 and is expected to be completed in 2013. Data for 2010 and 2011 are:

                                                                                                     2010                2011

            Costs incurred to date                                                $1,800,000      $5,200,000

            Estimated costs to complete                                        7,200,000        4,800,000

Penner uses the percentage-of-completion method.

Instructions

(a)   How much gross profit should be reported for 2010? Show your computation.

(b)   How much gross profit should be reported for 2011?

(c)   Make the journal entry to record the revenue and gross profit for 2011.

8. What are the most important differences between public- and private-sector collective bargaining?

On January 1, 2018, a machine was purchased for $117,500. The machine has an estimated salvage value of $10,400 and an estimated useful life of 5 years. The machine can operate for 119,000 hours before it needs to be replaced. The company closed its books on December 31 and operates the machine as follows: 2018, 23,800 hrs; 2019, 29,750 hrs; 2020, 17,850 hrs; 2021, 35,700 hrs; and 2022, 11,900 hrs.

(a)

Compute the annual depreciation charges over the machine’s life assuming a December 31 year-end for each of the following depreciation methods. (Round answers to 0 decimal places, e.g. 45,892.)

Suppose that people realize that they must save a larger proportion of their income in order to retire, and they simultaneously begin to use new technology that allows them to reduce their holdings of real cash balances as a proportion of their income. Giving reasons, clearly explain the combined impact of these two changes in household behaviour on equilibrium output and interest rates in a closed economy using the IS–LM analysis. You may need to draw a diagram to determine the impact. However, do not provide a diagram with the answer.