For 300 trading​ days, the daily closing price of a stock​ (in $) is well modeled by a Normal model with mean ​$196.38 and standard deviation $7.13.

According to this ​model, what is the probability that on a randomly selected day in this period the stock price closed as follows.

​a) above ​$203.51?

​b) below ​$210.64​?

​c) between ​$182.12 and ​$210.64?

​d) Which would be more​ unusual, a day on which the stock price closed above ​$206 or below ​$180?

For 300 trading​ days, the daily closing price of a stock​ (in $) is well modeled by a Normal model with mean ​$197.49197.49 and standard deviation ​$7.147.14. According to this​ model, what is the probability that on a randomly selected day in this period the stock price closed as follows. ​

a) above ​$211.77211.77​?

​b) below ​$204.63204.63​? ​

c) between ​$183.21183.21 and ​$211.77211.77​?

​d) Which would be more​ unusual, a day on which the stock price closed above ​$210210 or below ​$190190​?

An empty tin can with height of 30cm and a diameter of 15cm is open at one end and closed at the other end. If the vertical can, with open end down, be slowly immersed in water, how far the water will rise inside the can when the closed end is 10 cm below the water surface?

I know this is easy, but when I'm solving for h, I'm getting a negative value, means that the can will be filled completely?

Janet was born in Ireland but moved to Canada in 2016 two months after her 17th birthday. In total, she made $8500 worth of TFSA contributions however she took out $1000 for a vacation in January 2019 and $1600 in Oct 2019 from her TFSA.   What is her TFSA contribution limit for 2020?

a) $5,900

b) $11,400

c) $14,500

d) $20,000

e) $17,400

MANUTAN INTERNATIONAL MAIL ORDER EUROPEAN SUCCESS

Manutan International S.A. is a specialist mail-order business providing industrial and offi ce equipment and supplies to the business-to-business, collective, and public sectors. Based in France, Manutan has built up a pan-European network of 24 subsidiaries in 20 countries, from Portugal to Russia and from Sweden to Italy. Manutan also has a strong online presence with 18 e-commerce websites and a workforce of around 1,500 staff . Manutan’s more than 200 catalogues feature over 200,000 items and serve more than 600,000 customers throughout Europe. While mail-order houses had been in operation in France for many years, they have tended to focus primarily on the consumer market. In 1966, however, André Guichard, joined by son Jean-Pierre, set up a company dedicated to providing mail-order services to the business sector. Th e company’s major innovation was in its choice of goods, that of industrial equipment, especially materials handling equipment. Manutan quickly recognized the potential of entering other European markets. Th e company’s fi rst choice was the United Kingdom, where, as in France in the 1960s, the market for mail-order materials handling, lift ing, and storage equipment was more or less non-existent. Manutan’s success in the United Kingdom led it to quickly move into a large number of new foreign markets aft er 1974. Manutan focused on its mail-order operations until the early 2000s. In 2001, however, the company expanded and established a presence on the Internet, launching its fi rst e-commerce-enabled website. Th at site later provided the platform for the rollout of 18 websites targeting each of the company’s markets. By 2005, the company had posted more than €1 million in sales through its e-commerce sites. During the recent global fi nancial crisis, Manutan made a strategic decision not to cut its marketing and commercial investments. On the contrary, Manutan maintained its promotional expenditure, and refocused part of its staff on direct selling, thereby increasing the multi-channel contact with their customers. Th is strategic insight seems to have paid off : the company recorded revenues of €563 million during the 2010 fi nancial year, an increase of 15.2% over the previous year.

3. Suppose the customer satisfaction survey included a question on the overall quality of Manutan measured on a scale from 0 to 10 where higher numbers indicate greater quality. Company managers monitor the fi gures from year to year to help determine whether Manutan is improving customers’ perceptions of its quality. Suppose random samples of the responses from 2011 customers and 2012 customers are taken and analysed on this question, and the following Minitab analysis of the data results. Help managers interpret this analysis so that comparisons can be made between 2011 and 2012. Discuss the samples, the statistics, and the conclusions.

Use the following information to answer questions 40 to 41:

CDE Ltd has provided the following budgeted Income Statement extract for the July-September quarter in 2020.

                                              July August September

                                            $,000 $’000 $’000

Sales (all on credit) 85 88 91

Purchases (43) (45) (47)

Depreciation expense (5) (5) (5)

Electricity expense (6) (6) (6)

Other expenses (25) (25) (25)

You are also given the following additional information:

• All sales are collected in cash the month after sale.

• All purchases are made on credit and paid for in cash the month after purchase.

• Electricity is paid at the end of each quarter (i.e. on 30 September)

• Other expenses are paid in cash in the same month they are incurred.

• The business plans to buy a delivery van in August for $40,000 cash.

• The cash balance is $17,000 on 31 July 2020.

Prepare a cash budget for CDE Ltd for the month of August and September.

Assess the cash position of CDE Ltd. Should CDE Ltd proceed with the purchase of delivery van as planned?

Give your reasons and suggest alternatives if applicable.

The Income Statement of Adom Enterprise for the year ended 31stMarch,2020as prepared by an Accounts Assistant indicated a net profit of GHS 148,080. Though, the cash book on 31stMarch, 2020 showed a balance at bank to be GHS 13,460. Your attention is however drawn to the following:

i) Cheques from customers totalling GHS 14,940which were recorded in the cash book on March 25,2020 were not credited by the bank until April2, 2020. ii)Cheques issued on March 13, 2020totallingGHS 22,260in favour of suppliers were not paid by the bank until after the end of the year (that is after March31,2020

)iii) On 22 February2020, the bank paid an amount of GHS 10,800with respect to a standing order from Adom Enterprise for rent of business premises for the three months to April 30, 2020but unfortunately, no entry for this payment had been made in the cash book. Additionally, no provision of this outstanding rent had been made in the income statement for the period.

iv) On March31, a customer known as Mr. Kwarteng had paid GHS 7,020 into Adom Enterprise bank account through a standing order to his bankers in full settlement of a debit balance of GHS 7,200in Adom Enterprise sale ledger, but no entry had been made in the books.

v) On 30thMarch 2020, a cheque for GHS 1,440 was received from a customer in settlement of sales invoice for the same amount. The cheques were lodged into Adom Enterprise bank account. Both sale of goods and the cheque were entered in Adom Enterprise’s books. However, on 31stMarch 2020, the customer returned the goods and instructed her bankers not to pay the cheque (This instruction was carried out the same day) but no entries in respect of these latter developments have been made in Adom Enterprise’s books. The cost of these goods amounting to GHS 960 were not actually included in the closing inventories.

vi) Cheques received from two customers:Madam Adwoa Nyarkoa GHS2,150 and Papa Kwame Ayisi of GHS 1,520 were recorded at the wrong side of the cash book

.vii) A cheque for GHS 2,520 from an insurance company in settlement of claim for fire damage to inventory had been paid into the bank and credited by the bank on 21stMarch 2020, but an estimated amount of GHS 2,400had been entered in Adom Enterprise’s income statement.

viii) During a review of the financial records, it was discovered that the receipts side of the cash book was overstated by GHS 1,480. This has not been corrected.

Required:

a) Prepare a statement on March31,2020, clearly indicating the cash book balance.

)b) Prepare the bank reconciliation statement for Adom Enterprise

)c) Prepare a statement of corrected net profit of Adom Enterprise on 31stMarch, 2020

III. True or False.

Just Write Down the answer.

1. If a contract is concluded on CIF term, Incoterms 2010 is applicable even when the contract does not indicate to this effect.
2. Offer and counteroffer are two essential steps in international trade negotiation.
3. A buyer cable an acceptance to an offer, but requiring to change payment from D/P at sight to D/A. The seller kept silence. A contract could be established at this moment.
4. Any offer can be withdrawn if the withdrawal reaches the offeree before an acceptance is dispatched.
5. An offer is accepted only if there is no alteration.
6. In accordance with the international practice, unless the contract stipulates otherwise, the more or less part will be priced at the contract rate.
7. Under CIF the seller has to effect insurance, therefore he has to bear the risk during the ocean transport.
8. A bill of exchange is a conditional order in writing.
9. “Dishonor” means the refusal to the acceptance or payment of a duly presented draft.
10. A promissory note is a promise of payment by the maker.

16. A corporation issued $100,000 of 10% bonds for $103,000. What is the journal entry to record the issuance of the bonds.

As an investor in the financial market, you have two situations that you can make a profit out of. Currently, the stock price is $30 per share. Identify the best strategy to follow for each case. (Assume 1000 shares for each case)

When you expect that the price of BETA will increase in 30 days to $40. The broker’s initial margin requirement is 60% of the value of the position. - What will be your strategy and your position? - How much will you lose or gain if you closed your position after 30 days? - Do you receive a call if the price will be $50 per share? - What should be the price of the stock for you to receive a margin call? the maintenance margin is 25%.