It is now 5 August 2018 and you are auditing Great Horizons Ltd (Great Horizons) for the year ended 30 June 2018. The accounts receivable balance at 30 June 2018 was $1,302,765 and was a material account balance for Great Horizons. You are reviewing a planned substantive test of detail to be performed by the junior auditor, Tom Hawkins, aimed at testing the accuracy, valuation an allocation of accounts receivable at 30 June 2018. Tom has randomly selected the following ten transactions included in the accounts receivable balance and intends to check for subsequent payments and also review the customer’s correspondence file to see if any follow-up on overdue amounts was noted.

1) Explain whether the sample Tom selected will provide sufficient appropriate audit evidence on the accuracy, valuation and allocation of accounts receivable as at 30 June 2018.

You just stepped into a new role as an office manager. Due to a lack of consistency throughout the office, you have been asked to update the billing policies and procedures to include the following elements: Step-by-step instructions for the entire revenue cycle from pre-verification of insurance to accounts receivable management. Methodology your office will use to determine a pricing structure. Considerations for negotiating insurance contracts. Considerations for private pay and charity care.

Suppose that the current daily volatilities of asset A and asset B are 1.65% and 2.32%,
respectively. The prices of the assets at close of trading yesterday were $35 and $52 and
the estimate of the coefficient of correlation between the returns on the two assets made
at that time was 0.26. The parameter λ used in the EWMA model is 0.95.
(a) Calculate the current estimate of the covariance between the assets.
(b) On the assumption that the prices of the assets at close of trading today are $36 and $53, update the correlation estimate.

Suppose that the current daily volatilities of asset A and asset B are 1.65% and 2.32%,

respectively. The prices of the assets at close of trading yesterday were $35 and $52 and

the estimate of the coefficient of correlation between the returns on the two assets made

at that time was 0.26. The parameter λ used in the EWMA model is 0.95.

(a) Calculate the current estimate of the covariance between the assets.

(b) On the assumption that the prices of the assets at close of trading today are $36 and $53,

update the correlation estimate.

Project engineer found that it is necessary for his project to install new software, the purchase price for the software is SR 2,870,325, the software needs update every 3 years and it will cost him SR 328.854, along with a yearly operating cost of SR 47,866. This system will last for 7 years what is the amount he should invest now to cover the cost of this system, use interest rate of 9%. Don't use the negative sign in the answer

The following pseudocode finds the maximum element in an array of size n.

1. Write a recursive version of this program.

2. Let f(n) be the number of key comparisons performed by this algorithm. Write a recurrence equation for f(n).

3. Prove by induction that the solution of the recurrence is f(n) = n − 1.

1. Write a Java program implementing a Binary Tree which stores a set of integer numbers. (Not have duplicate nodes) (100 points)

   1. 1) Define the BinaryTree interface.

   2. 2) Define the Node class.

   3. 3) Define the class LinkedBinaryTree which implements BinaryTree Interface.

   4. 4) Define the class TestLinkedBinaryTree which tests all function of

      LinkedBinaryTree.

   5. 5) Operations

      • Add/Remove/Update integer members.

      • Display(three traversal algorithms), Search.

Glass PLC is a manufacturing company and engaged in the business of wholesale and retail business. The following information has been provided for the quarter ended 31st October 2019. 1. Sales to Wholesale shops : Rs. 7,500,000 2. Sales to end customers : Rs. 6,000,000 3. NBT paid on imported raw materials : Rs. 35,000 4. NBT paid on services : Rs. 50,000 Compute the NBT payable for the quarter ended 31st October 2019

B. Explain the different between exempt suppliers and Zero- rated supplies with reference to Value Added Tax (VAT

C. Roshan is a resident individual and tax payer. He has failed to comply with the statutory requirement to submit an income tax return on or before the due dates. State the applicable penalties for non- compliance with reference to Inland revenue Act No. 24 of 2017.

D. Explain five withholding taxes applicable in Sri Lanka for the year of assessment 2018/19.

On January 3, 2104 a business received a $40,000 non-interest bearing note in payment for the sale of a piece of used equipment. The cost of the equipment was $100,000 and its book value at the date of the sale was $20,000. The note will be settled with one payment due January 3, 2018. No interest rate is stated on the note but 8% is considered realistic for this kind of transaction.

1)Compute the discount for this note and determine the gain or loss to be recorded at the sale of the asset.

2) Journalize the sale of the equipment on the books of the business selling the equipment on Jan 3, 2014

3) Prepare an amortization schedule for the discount and prepare any entry or entries required for this note for the remainder of 2014 and 2015

4) Show how this note would be presented in the financial statement at 12/31/14

5) How would your answer to part 1 change if this note was to be settled in 4 even payments of $10,000 each iwth the first payment due 1/3/14

Please asnwer all parts of question 2

Question 2:         Use Data2 Sheet

2a.          Conduct a 2-level sort: on Fiscal Year (Largest to Smallest) and then on Company code (Z to A).

                                Report company code and year of 5^th record (do not count the header of the table).

                                In Answer Sheet, put Company code and year continuously like: K2002

2b.          For each company, calculate the annual sales growth. Report the company code and year of the 8^th Highest growth number.

                Annual sales growth = Sale year (i)/Sale year (i-1) -1

                                In Answer Sheet, put Company code and year continuously like: K2002

2c.          For each year, if you want to find a firm with the smallest Sales, how will you sort the data so that you can systematically identify these records? (this sort answers a question such as: in 2002, which firm has the lowest sales number?)

                                Sort first by:

                                Then by:

                                Then by:

                                Then by:

In Answer Sheet, we use column A, B, C, D instead of typing Fiscal year (column A), Company code (column B), Sales (column C) …

So if you think you should sort on Fiscal Year (column A), then on Company Code (column B), then on Sales (column C), simply type ABC