Dr. Shikongo and Dr. Sauer were in a partnership and traded together for some time. On 01 July

2016 Dr. Sauer decided to withdraw from the partnership to start her own practice. Their

abridged statement of financial position as at 30 June 2016 was:

ASSETS N$ EQUITY & LIABILITIES N$

Property, Plant & Equipment (PPE) 152,500.00 Capital: Dr. Shikongo 76,200.00

Accumulated depreciation:PPE (20,000.00) Capital: Dr. Sauer 65,200.00

Vehicles 65,000.00 Current account: Dr. Shikongo 21,750.00

Accumulated depreciation:Vehicle (25,000.00) Current account: Dr. Sauer 27,250.00

Trade receivable 27,600.00 Loan: Deutche Bank 31,000.00

Allowance for bad debts (3,500.00) Trade payable 17,500.00

Cash 42,300.00

238,900.00 238,900.00

Transactions for July 2016:

1. Trade receivable who owed N$ 20, 050.00 settled their accounts in full.

2. The trades payable were settled in full.

3. A vehicle was sold for N$ 19, 500.00 with a carrying value of N$ 25, 000.00.

4. A vehicle was sold for N$ 15, 000.00 with a carrying value of N$ 6, 000.00.

5. The loan from Deutche Bank was repaid in full.

6. The equipment was disposed of for N$ 50, 000.00

7. Land and building was sold by public auction for N$ 70, 000.00

You are required to:

1. Do the journal entries to record Dr. Sauers’ withdrawal from the partnership. ( 12

Marks)

2. Prepare the following accounts to show the liquidation and dissolution of Dr. Shikongo

& Dr. Sauer Partnership:

a. Realisation account. ( 6 Marks)

b. Capital accounts of the partners (in a columnar form) in the general ledger. ( 8

Marks)

3. Mention and discuss three factors that may lead to the dissolution of a partnership. ( 6

Marks)

ASSETS N$ EQUITY & LIABILITIES N$

Property, Plant & Equipment (PPE) 152,500.00 Capital: Dr. Shikongo 76,200.00

Accumulated depreciation:PPE (20,000.00) Capital: Dr. Sauer 65,200.00

Vehicles 65,000.00 Current account: Dr. Shikongo 21,750.00

Accumulated depreciation:Vehicle (25,000.00) Current account: Dr. Sauer 27,250.00

Trade receivable 27,600.00 Loan: Deutche Bank 31,000.00

Allowance for bad debts (3,500.00) Trade payable 17,500.00

Cash 42,300.00

238,900.00 238,900.00

Please re-write paragraphs.

1.) Developing systems means more than coding the system as program codes. It involves all the activities starting from the creation, to planning, to maintenance of the developed systems. It also involves modeling and simulating the system by developing the database infrastructure, web content, and much more. There exist many software technologies ideal in every part of software development lifecycle. These technologies include HTML, XML, SOAP, CSS, JAVA, ASP.NET, Bootstrap, Objective C, jQuery, Python, AJAX and Ruby, just to mention a few. Each internet systems technologies serves best at different stages and phases of the system development. In the context of Pine Valley Furniture, the following is a comparison between three of the above technologies, Java, Python, and Ruby, to determine which is better than the others. The above technologies should be evaluated based on production time, project size, support, efficiency, and performance. Other traits such as expressions, functions, abstraction, etc. are common to most of the languages and cannot add anything to the comparison.

2.) All the three languages add lots of value to the business organization if they apply in their respective relevant development positions. However, each brings specific values to the developed internet systems as shown in the table above. Data manipulation with Python achieves function applications, creation of pivot table, Boolean indexing, plotting capabilities, multi-indexing, and missing files imputation. Ruby, on the other hand, can automatically create the test scripts and hence an avenue for more creativity. Automated test scripts are ideal to a small-sized organization whose procedures and processes are yet to be defined and is considering system developments for the first time. Lastly, java provides excellent portability with large well-documented libraries and standard classes so the programmer does not start writing codes from scratch. The analysis above, however, puts Python ahead of the other languages. Pine Valley Furniture needs to create simple and flexible systems that are easy to scale in the future. Java could work best only if the company were a very big company. Besides, Python codes are easily transferrable to other languages. This flexibility is what every small and medium sized company desire.

1. Copy the files from Assignment 1 to Assignment 3.

2. Modify the PetFoodCompany header to mention a friend function called "computeBonusBudget". This method should compute the bonus budget as netIncome() * BonusBudgetRate and this method should exist in the driver program - not the Class defintion.

3. Modify the output of the program to display the results of the computeBonusBudget.

Enter Total Sales: 1000

Enter Total Expenses: 600
Net Income = 400
Bonus Budget = 8

Here is the code:

PetFoodComp.h:

class PetFoodCompany
{
public:
  
PetFoodCompany();

char getQuart();
char* getCompany();
char* getDivision();

void setQuart(char quart);
void setTotalSales(float totalSales1);
void setTotalExpences(float totalExpences1);
void setCompany(char name[]);
void setDivision(char name1[]);

float getTotalSales();
float getTotalExpences();

double netIncome();
  

private:
  
char company[40];
char division[40];

static char quart;
static double BonusRate;

float totalSales;
float totalExpences;
  
  
};

PetFood.cpp:

#include <iostream>
#include <cstring>
#include "PetFoodComp.h"

using namespace std;

double PetFoodCompany::BonusRate = 0.02;
char PetFoodCompany::quart = '1';

PetFoodCompany::PetFoodCompany()
{
   strcpy(company, "myCompanyName");
}

char PetFoodCompany::getQuart()
{
   return quart;
}

float PetFoodCompany::getTotalSales()
{
   return totalSales;
}

float PetFoodCompany::getTotalExpences()
{
   return totalExpences;
}

char* PetFoodCompany::getCompany()
{
   return company;
}

char* PetFoodCompany::getDivision()
{
   return division;
}

void PetFoodCompany::setQuart(char quart1)
{
   if (quart1 == '1' || quart1 == '2' || quart1 == '3' || quart1 == '4')
       quart = quart1;
}

void PetFoodCompany::setTotalSales(float totalSales1)
{
   totalSales = totalSales1;
}

void PetFoodCompany::setTotalExpences(float totalExpences1)
{
   totalExpences = totalExpences1;
}

void PetFoodCompany::setCompany(char name[])
{
   strcpy(company, name);
}

void PetFoodCompany::setDivision(char dname[])
{
   strcpy(division, dname);
}

double PetFoodCompany::netIncome()
{
   return (totalSales - totalExpences);
}

PetFoodMain.cpp:

#include <iostream>
#include <cstring>
#include "PetFoodComp.h"

using namespace std;

int main()
{
   double totalSales, totalExpences;
   PetFoodCompany pet;
   cout << "Company Name is " << pet.getCompany() << "\n";
   cout << "Current Quarter is " << pet.getQuart() << "\n";

   cout << "Enter Total Sales: ";
   cin >> totalSales;

   cout << "Enter Total Expences: ";
   cin >> totalExpences;

   pet.setTotalExpences(totalExpences);
   pet.setTotalSales(totalSales);

   cout << "Net Income: " << pet.netIncome() << "\n";

   return 0;
}

Problema 1 (Please Solve with Excel)

The Time Value of Money

Jackson L. Brown
Valuation of Expected Earnings

Dr. Michael Niesvwiadomy
(Legal Consultant and an Assistant Professor at the University of North Texas).

Jackson L. Brown was born on January 15, 1960 in Austin, Texas. He was raised in Plano, Texas, where his family moved a few years after his birth. There he attended and graduated from Plano High School. Jackson had planned to go to college but due to an early marriage had to seek a job to support his family In August of 1978 Jackson started working for Weststar Cleaning as a window washer. Jackson enjoyed his job and qualified for yearly raises. By August of 1988 he was making $25,000 a Year with an average yearly raise of 5.34%. Jackson and his wife Mary seemed to have everything going for them. On the 9th of September 1988, tragedy struck. Jackson was working on the 37th floor of a 75 story skyscraper when a detective rope broke and caused him to fall to his death.

Mary Brown was devastated with the tragedy. Not only was the loss of her husband hard on her but she was put in a position of finding a job to support her young family.

Mrs. Brown contacted Mr. A.(Always) Wright, a local attorney, and requested a wrongful death suit against the rope manufacturer to recover her husband's expected future earnings and benefits. Mary was a little apprehensive at first about the law suit because of the expense of hiring an attorney. Wright assured Mrs. Brown, however, that she would not have to pay any legal fees unless the case was settled in her favor. Mary decided that a law suit would be better than living in poverty the rest of her life and besides it would be a low cost alternative since she would not be responsible for any of the costs unless the case was settled in he,. favor. Mr. Wright was positive   that he could prove negligence on the part of the rope manufacturer but was unsure as to the full value of the damages caused by the accident.

Dr. Michael L.(Loves) Money, a professional economist, was retained by Mr. Wright to prepare a report and give testimony (if needed) in the wrongful death case. Mr. Wright hired Dr. Money to calculate estimates of the expected lost earnings of the deceased Jackson L. Brown. Based upon information Provided to Dr. Money, he constructed the (actual basis of the case which is shown in Table 1.1.

The growth rate in wages and the earnings at the time of death were taken from Mr. Brown's past tax returns. Dr. Money found that the growth rate of Mr. Brown's actual wages corresponded with averages for the growth in private non-agricultural wages, which he found in Employment, Hours and Earmings United States, 1909-84, Volumes I and II (Bulletin 1312-12) and in current issues of Employment and Earnings (published by the U.S. Department of Commerce, Bureau of Labor Statistics). Dr. Money believed that the correlation of the actual growth rate of Mr. Brown's wages to industry averages implied that the industry averages could be used. Dr. Money used the average 3 year Treasury note rate as the discount factor since this is a generally accepted indicator of market interest rates, the source of this data is the Slatistical Abstract of the United States, 1988 (published by the U.S. Department of Commerce, Bureau of the Census).

TABLE 1.1: Factual Basis for Evaluating the Economic Losses of Jackson L Brown
------------------------------------------------------------------------------------------------------------------------
1. Date of Birth:                                        2/15/60
2. Date of Death:                                       9/6/88
3. Age at time of death:                              28.66 years
4. Worklife Expectancy as of 9/6/88:           31 years
5. Life Expectancy as of 9/6/88:                 44.54 years
6. Marital Status:                                       Married, no children
7. Sex:                                                      Male
8. Race:                                                    White
9. Education:                                             High School Graduate
10. Occupation:                                         Window Washer
11. Expected Trial Date:                             12/l/89
12. Earnings at time of death:                      $25,000 / year
13. Benefits:                                              28.00% of earnings
14. Expected annual growth in wages:          5.34%
15. Discount rate (3 yr. T-Note):                 6.82%

* The life and worklife expectancy information (shown above) is obtained from VVorklife Estimates: Effects of Race and Education, U.S. Department of Labor. Bureau of Labor Statistics. February 1986. Bulletin 2254. Table A-6.

QUESTIONS

1. Calculate the present value, at the time of Jackson's death, of his lost earnings (including fringes) over his expected worklife using the present value of an annuity formula.

2. Check your answer to question 1 by calculating the Individual present values at each age and summing them. (Calculate the undiscounted and discounted streams of income separately.)

3. Discuss possible alternative approaches and problems associated with Your economic evaluation of lost wages.

4. Include a discussion of the analysis, as well as your recommendation, for this situation.

Suppose that a 1-year zero-coupon bond with face value $100 currently sells at $94.34, while a 2-year zero sells at $84.99. You are considering the purchase of a 2-year-maturity bond making annual coupon payments. The face value of the bond is $100, and the coupon rate is 12% per year.
a) What is the yield to maturity of the 2-year zero?
b) What is the yield to maturity of the 2-year coupon bond?
c) What is the forward rate for the second year?
d) According to the expectations hypothesis, what are (i) the expected price of the coupon bond at the end of the first year and (ii) the expected holding-period return on the coupon bond over the first year?

Perpetual preferred stock has:

Par value- $50/share

dividend rate- 7%/year

investors require- 9.5% per year return to hold pref. stock.

what is its value per share?