Topeka Corporation uses special strapping equipment in its packaging business. The equipment was purchased at the beginning of 2010 for $800,000 and had an estimated useful life of 8 years with no salvage value. Topeka uses the straight-line depreciation method.

At the end of 2010, new technology was introduced that would accelerate the obsolescence of the equipment. Topeka’s controller gathered the following information:   

14. Assume Topeka will continue to use the equipment and that it tests the asset for impairment under IFRS. Based on this test, which of the following statements is MOST correct?

15. Assume Topeka will continue to use the equipment and that it tests the asset for impairment under GAAP. Based on this test, which of the following statements is MOST correct?

Please discuss if innovation is still the motor of industry or everything is invented already.

Should companies invest in innovation which is applicable worldwide, or just in the influence area?

Has innovation returns in a short time?

Electronic Health Records (EHR) have revolutionized the tracking and delivery of healthcare for all. However, these records have been historically closed to patients and there have even been debates on who owns the information. Given the current trend in technology, patients are demanding and expecting to have access to their information at all times and even the ability to modify it.

1. Should patients be able to readily access their information as desired?
2. If so, should they be allowed to edit all information? Or just some aspects and which aspects?

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. (125 words maximum)

Due to the ongoing COVID-19 pandemic, your employer closed down and retrenched all its employees. You decided to return to your hometown, a small town in the east coast of MARGATE. You noticed that there was no food delivery service business in the town and decided to start such a service using your cars. Your delivery riders would collect the orders from food outlets in the town and deliver the food to customers for a fee. However, you did not have sufficient funds to run the business. When you tried to obtain a business loan from a bank, the bank officer requested that you prepare a sales forecast for the proposed business.

i)   Explain two main challenges in making the sales forecast as required by the bank.

ii) Describe which specific method is suitable for the sales forecast and provide the reasons why you choose this method.

c) After the bank approved your loan, you began operating delivery service company as described in 2(b).

The company recorded the following number of deliveries in the last 6 months:

Due to the expected increase in deliveries, you approached the bank again to obtain another business loan. This time, the bank officer asked for a forecast of the deliveries for the rest of the year based on your July forecast. You decided to use naive, 3month moving average and 6-month moving average forecast methods.

i) Calculate your forecast for July using the three methods stated.

ii) If actual deliveries for July are 309, which one among the three methods is the most accurate using absolute deviation calculation?

Clearly explain three theories of collective behavior. Provide one clear example of each of the three theories

Question 2

You are an expert in sustainable innovation and tasked to give a report on the factors of innovation. Briefly, analyseand discuss the factors of innovation.

In your report, analyse and discuss the following areas, you may also search the internet for information. Factors of innovation may include personality, motivation, cognition, structure, leadership traits, tasks characteristics, culture, strategy and resources. (25)

Burr Industries has the following events transpire in June of 2020: Event Details Buy Inventory Buy 6,000 units of inventory for $6/unit on credit. Sell Inventory Sell 4,765 units of inventory for $44/unit on credit. Close Books Books are closed for the month of June.

Burr Industries has the following events transpire in June of 2020:

Additional Info:         Inventory is always purchased for $6/unit. Beginning inventory is 1,840 units.

Assuming Burr uses the Periodic Inventory System, please provide the necessary journal entries. If no entry is required, please put “N/A”

You may round your answers to the nearest dollar.

(A) Please provide the journal entry for the purchase of inventory:

(B) Please provide the journal entry for the sale of inventory:

(C) Please provide the journal entry which Burr would record when closing its books/the adjusting entry relating to inventory:

Read the following news items and explain where a short-run decision and a long-run decision are involved?

a. January 31, 2020: Tim Horton will open 60 more stores in Asian countries  

b. March 30, 2020: All stores of Tim Horton will shut down on Tuesday stores so that baristas can receive a refresher course.

c. June 2, 2020: Tim Horton replaces baristas with vending machines.

d. June 30, 2020: Tim Horton is closing 200 stores in British Columbia by the end of July