TABLE 4-8 (According to the record of the registrar's office at a state university, 35% of the students are freshman, 25% are sophomore, 16% are junior, and the rest are senior. Among the freshmen, sophomores, juniors, and seniors, the portion of students who live in the dormitory are, respectively, 80%, 60%, 30%, and 20%. ) 40. Referring to Table 4-8, what is the probability that a randomly selected student is a freshman who lives in a dormitory?

41. Referring to Table 4-8, what is the probability that a randomly selected student is a sophomore who does not live in a dormitory?

42. 130) Referring to Table 4-8, what is the probability that a randomly selected student is a junior who does not live in a dormitory?

43. Referring to Table 4-8, what is the probability that a randomly selected student is a junior or senior who lives in a dormitory?

44. Referring to Table 4-8, what percentage of the students live in a dormitory? 45. Referring to Table 4-8, what percentage of the students do not live in a dormitory?

46. Referring to Table 4-8, if a randomly selected student lives in the dormitory, what is the probability that the student is a freshman?

47. Referring to Table 4-8, if a randomly selected student does not live in the dormitory, what is the probability that the student is a junior or a senior?

On September 12, 1962, President John F. Kennedy delivered a speech at Rice University Stadium in Houston, Texas, in which he appealed for support of the National Aeronautics and Space Administration’s program to land humans on the Moon. The following passage is an excerpt from Kennedy’s speech. Read the passage carefully. Compose a thesis statement you might use for an essay analyzing the rhetorical choices Kennedy makes to accomplish his purpose. Then select at least four pieces of evidence from the passage and explain how they support your thesis.

In your response you should do the following:

• Respond to the prompt with a claim that establishes a line of reasoning.
• Select and use evidence to develop and support your line of reasoning.
• Explain the relationship between the evidence and your thesis.

No man can fully grasp how far and how fast we have come, but condense, if you will, the 50,000 years of man’s recorded history in a time span of but a half-century. Stated in these terms, we know very little about the first 40 years, except at the end of them advanced man had learned to use the skins of animals to cover them. Then about 10 years ago, under this standard, man emerged from his caves to construct other kinds of shelter. Only five years ago man learned to write and use a cart with wheels. Christianity began less than two years ago. The printing press came this year, and then less than two months ago, during this whole 50-year span of human history, the steam engine provided a new source of power.

Newton explored the meaning of gravity. Last month electric lights and telephones and automobiles and airplanes became available. Only last week did we develop penicillin and television and nuclear power, and now if America’s new spacecraft succeeds in reaching Venus, we will have literally reached the stars before midnight tonight.

This is a breathtaking pace, and such a pace cannot help but create new ills as it dispels old, new ignorance, new problems, new dangers. Surely the opening vistas of space promise high costs and hardships, as well as high reward.

So it is not surprising that some would have us stay where we are a little longer to rest, to wait. But this city of Houston, this State of Texas, this country of the United States was not built by those who waited and rested and wished to look behind them. This country was conquered by those who moved forward—and so will space.

William Bradford, speaking in 1630 of the founding of the Plymouth Bay Colony, said that all great and honorable actions are accompanied with great difficulties, and both must be enterprised and overcome with answerable courage.

If this capsule history of our progress teaches us anything, it is that man, in his quest for knowledge and progress, is determined and cannot be deterred. The exploration of space will go ahead, whether we join in it or not, and it is one of the great adventures of all time, and no nation which expects to be the leader of other nations can expect to stay behind in the race for space.

Those who came before us made certain that this country rode the first waves of the industrial revolutions, the first waves of modern invention, and the first wave of nuclear power, and this generation does not intend to founder in the backwash of the coming age of space. We mean to be a part of it—we mean to lead it. For the eyes of the world now look into space, to the moon and to the planets beyond, and we have vowed that we shall not see it governed by a hostile flag of conquest, but by a banner of freedom and peace. We have vowed that we shall not see space filled with weapons of mass destruction, but with instruments of knowledge and understanding.

Yet the vows of this Nation can only be fulfilled if we in this Nation are first, and, therefore, we intend to be first. In short, our leadership in science and in industry, our hopes for peace and security, our obligations to ourselves as well as others, all require us to make this effort, to solve these mysteries, to solve them for the good of all men, and to become the world’s leading space-faring nation.

We set sail on this new sea because there is new knowledge to be gained, and new rights to be won, and they must be won and used for the progress of all people. For space science, like nuclear science and all technology, has no conscience of its own. Whether it will become a force for good or ill depends on man, and only if the United States occupies a position of pre-eminence can we help decide whether this new ocean will be a sea of peace or a new terrifying theater of war. I do not say the we should or will go unprotected against the hostile misuse of space any more than we go unprotected against the hostile use of land or sea, but I do say that space can be explored and mastered without feeding the fires of war, without repeating the mistakes that man has made in extending his writ around this globe of ours.

Suppose your selected company(choose one of the two) just paid a dividend of $ 2.20 per share. The dividend are to calculate the share's expected return. You observe that the risk-free rate of return on us treasuries is 2% p.a, the market risk premium is 7 % and the company's equity has a current beta of 1.285. what is the market value of the company's shares? Compare the actual closing price of your selected company's share on the balance sheet date. Why might the actual share price differ from the calculated price? explain. I choose Woolworth ltd in australia and the other company is Wesfarmers Ltd

Data Mining

Life of academic staff can be very challenging and demanding. Even though it seems like a smooth sailing ship, many aspects might challenge an individual employed in such sector.
One of the biggest challenges to overcome is to ensure to keep a keen watch on all students enrolled in a specific course. The obstacle levels up when the student number is higher in the class, let's say more than fifty. Then one could imagine how difficult it might be if the class number is beyond a hundred or two hundred, for instance.
Dr. Prat is an academic staff at Fiji National University. He teaches a generic course where all students from different programmes are compelled to enrol in it. This would mean that the class number is usually very high and keeping a good watch on all students is merely impossible.
Dr. Prat is looking for avenues to make this possible. Being a colleague, Dr. Prat thought to seek assistance from the Department of Computer Science and Information Systems. Dr. Prat was given an assurance that the Department of Computer Science and Information Systems can use data mining tactics to resolve his hurdle.
Dr. Prat provided with two years of student coursework marks.
Your lecturer is seeking your help to find knowledge from the provided dataset. You are to use the results for 2017 an 2018 to pre-determine the AT-RISK future students.

Please include:
Introduction
Problem Domain
Aim/Objective
Data Source

please in reference to the above questions and statements, provide details, you can also generalize it but in context to the question

Berne Company (lessor) enters into a lease with Fox Company to lease equipment to Fox beginning January 1, 2016. The lease terms, provisions, and related events are as follows:

1. The lease term is 4 years. The lease is noncancelable and requires annual rental payments of $50,000 to be made at the end of each year.

2. The equipment costs $130,000. The equipment has an estimated life of 4 years and an estimated residual value at the end of the lease term of zero.

3. Fox agrees to pay all executory costs.

4. The interest rate implicit in the lease is 12%.

5. The initial direct costs are insignificant and assumed to be zero.

6. The collectibility of the rentals is reasonably assured, and there are no important uncertainties surrounding the amount of unreimbursable costs yet to be incurred by the lessor. Required: 1. Next Level Determine if the lease is a sales-type or direct financing lease from Berne’s point of view (calculate the selling price and assume that this is also the fair value). 2. Prepare a table summarizing the lease receipts and interest revenue earned by the lessor. 3. Prepare journal entries for Berne, the lessor, for the years 2016 and 2017.

Required:

Music-Is-Us, Inc., is a supplier of musical instruments for professional and amateur musicians. The company’s accountants make adjusting entries monthly, and they make all closing entries annually . The company is growing rapidly and prides itself on having no long-term liabilities. The company has provided the following trial balance dated December 31, 2018.
MUSIC-IS-US, INC. TRIAL BALANCE DECEMBER 31, 2018
Cash. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 45,000

Marketable securities. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 25,000

Accounts receivable. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 125,000

Allowance for doubtful accounts . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 5,000

Merchandise inventory. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 250,000

Office supplies. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1,200

Prepaid insurance. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6,600

Building and fixtures. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1,791,000

Accumulated depreciation. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 800,000

Land. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 64,800

Accounts payable . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 70,000

Unearned customer deposits . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8,000

Income taxes payable. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 75,000

Capital stock. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1,000,000

Retained earnings. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 240,200

Unrealized holding gain on investments. . . . . . . . . . . . . . . . . . . . . . . . 6,000

Sales . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1,600,000

Cost of goods sold . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 958,000

Bank service charges. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 200

Uncollectible accounts expense. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9,000

Salary and wages expense . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 395,000

Office supplies expense. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 400

Insurance expense . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6,400

Utilities expense . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3,600

Depreciation expense . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 48,000

Income tax expense . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 75,000

$3,804,200 $3,804,200
Other information pertaining to the company’s trial balance is provided as follows. 1. The most recent bank statement reports a balance of $46,975. Included with the bank statement was a $2,500 check from Iggy Smarts, a professional musician, charged back to Music-Is-Us as NSF. The bank’s monthly service charge was $25. Three checks written by Music-Is-Us to suppliers of merchandise inventory had not yet cleared the bank for payment as of the statement date. These checks included: no. 508, $5,500; no. 511,
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$7,500; and no. 521, $8,000. Deposits of $16,500 reached the bank too late for inclusion in the current bank statement. The company prepares a bank reconciliation at the end of each month.

2. Music-Is-Us has a portfolio of marketable securities that originally cost $19,000. As of December 31, the market value of these securities was $27,500. All short-term investments are classified as “available for sale.”

3. During December, $6,400 of accounts receivable were written off as uncollectible. A recent aging of the company’s accounts receivable led management to conclude that an allowance for doubtful accounts of $8,500 is needed at December 31, 2018.

4. The company uses a perpetual inventory system. A year-end physical count revealed that several guitars reported in the inventory records were missing. The cost of the missing units amounted to $1,350. This amount is not considered significant relative to the total cost of inventory on hand.

5. At December 31, approximately $900 in office supplies remained on hand.

6. The company pays for its insurance policies 12 months in advance. Its most recent payment was made on November 1, 2018. The cost of this policy was slightly higher than the cost of coverage for the previous 12 months.

7. Depreciation expense related to the company’s building and fixtures is $5,000 for the month ending December 31, 2018.

8. Although Music-Is-Us carries an extensive inventory, it is not uncommon for experienced musicians to order custom guitars made to their exact specifications. Manufacturers do not allow any sales returns of custom-made guitars. The entire sales amount is collected at the time a custom order is placed, and is credited to an account entitled “Unearned Customer Deposits.” As of December 31, $4,800 of these deposits remained unfilled because the special-order guitars have not been received from the manufacturer. The cost of goods sold and the reduction in inventory associated with all custom orders is recorded when the custom merchandise is delivered to customers. At that time, the adjusting entry requires only a decrease to unearned customer deposits and an increase in sales.

9. Accrued income taxes payable for the entire year ending December 31, 2018, total $81,000. No income tax payments are due until early in 2019.

Instructions

a. Prepare a bank reconciliation and make the journal entries to update the accounting records of Music-Is-Us as of December 31, 2018.

b. Prepare the adjusting entry to update the company’s marketable securities portfolio to its mark-to-market value.

c. Prepare the adjusting entry at December 31, 2018, to report the company’s accounts receivable at their net realizable value (i.e., total amount receivable, less estimated allowance for uncollectible accounts).

d. Prepare the entry to account for the guitars missing from the company’s inventory at the end of the year.

e. Prepare the adjusting entry to account for the office supplies used during December.

f. Prepare the adjusting entry to account for the expiration of the company’s insurance policies during December.

g. Prepare the adjusting entry to account for the depreciation of the company’s building and fixtures during December.

h. Prepare the adjusting entry to report the portion of unearned customer deposits that were earned during December.

i. Prepare the adjusting entry to account for income tax expense that accrued during December.

j. On the basis of the adjustments made to the accounting records in parts a through i, prepare the company’s adjusted trial balance at December 31, 2018.

k. Using the adjusted trial balance prepared in part j, prepare an annual income statement, statement of retained earnings, and a balance sheet dated December 31, 2018.
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l. Using the financial statements prepared in part k, determine approximately how many days on average an account receivable remains outstanding before it is collected. You may assume that the company’s ending accounts receivable balance on December 31 is a close approximation of its average accounts receivable balance throughout the year.

m. Using the financial statements prepared in part k, determine approximately how many days on average an item of merchandise remains in stock before it is sold. You may assume that the company’s ending merchandise inventory balance on December 31 is a close approximation of its average merchandise inventory balance throughout the year.

n. Using the financial statements prepared in part k, determine approximately how many days it takes to convert the company’s inventory into cash. In other words, what is the length of the company’s operating cycle?

o. Comment briefly upon the company’s financial condition from the perspective of a short-term creditor.

1. ShopSmart’s International Growth Strategy

ShopSmart, founded by in 1919 by Nick Smart, is a British multinational grocery and merchandise retailer. It is the largest grocery retailer in the United Kingdom, with a 28% share of the local market and the second largest after Walmart measured in revenue. In 2017, ShopSmart had sales of more than £62 billion ($70 billion US dollars), more than 480,000 employees and 6,553 stores in 13 countries.

In its home market of the United Kingdom, the company’s strengths are reputed to come from strong competencies in marketing and store site selection, logistics and inventory management and its own label product offerings. By the early 1990s, these competencies had already given the company a leading position in the United Kingdom. ShopSmart was generating strong cash flows and senior managers had to decide how to use that cash. One strategy they settled n was international expansion.

As managers looked at international markets, they soon concluded that the best opportunities were not in established markets in North America and Western Europe where strong competitors already existed but in emerging markets of Eastern Europe and Asia, where there were strong underlying growth trends. ShopSmart’s first international foray was into Hungary in 1995 where it acquired Globals Stores, a state-owned grocery chain. By 2017, ShopSmart was the market leader in Hungary accounting for 1% of the whole economy of Hungary.

Next, ShopSmart acquired 31 stores in Poland from Stavia Limited. The following year, in 1996, ShopSmart added 13 stores that it purchased from Kmart in the Czech Republic and Slovakia. The next year, ShopSmart moved to purchase stores in the Republic of Ireland.

ShopSmart’s Asian expansion begun in 1998 when it moved into Thailand. In 1999, the company entered South Korea when it partnered with Samsung to develop a chain of hypermarkets. This was followed by entry into Taiwan in 2000, Malaysia in 2002, Japan in 2003 and China in 2004.

The move into China came after three years of careful research and discussions with potential partners. Like many other western companies, ShopSmart was attracted to the Chinese market by its large size and rapid growth. In the end, ShopSmart settled on a 50-50 joint venture with Hymall, a hypermarket chain that is controlled by Ting Hsin, which has been operating in China for six years. In 2014, ShopSmaart combined its 131 stores in China in a joint venture with the state-run China Resources Enterprise and its nearly 3,000 stores. ShopSmart owned 20% of the joint venture. As a result of these moves, by 2017, ShopSmart generated sales of about $21 billion outside the United Kingdom. The addition of international stores has helped make ShopSmart the second largest company in the global grocery market behind only Walmart. By 2017, all its foreign ventures were making money.  

(Source: Adapted from Hill, C.W.L. & Hult, G.T.M., (2019), International Business: Competing in the Global Marketplace, 12th Edition, McGraw Hill Education)

1. Examine two reasons why ShopSmart’s initial international expansion focused on emerging markets rather than competing with established companies in the more advanced markets of North America and Western Europe.

2. Discuss two disadvantages that ShopSmart encountered as a first mover into these emerging markets.

3. ShopSmart’s entry strategy into the Eastern European countries was through acquisition. Discuss three disadvantages that the company is likely to encounter as a result of this entry strategy

4. Identify ShopSmart’s strategic entry into the Asian market and discuss two benefits that the company sought to achieve with this strategy

Lynch was the loan officer at First Bank. Patterson applied to borrow $25,000. Bank policy required that Lynch obtain a loan guaranty from Patterson’s employer, a milk company. The manager of the milk company visited the bank and signed a guaranty on behalf of the company. The last paragraph of the guaranty stated, “This guaranty is signed by an officer having legal right to bind the company through authorization of the Board of Directors.” Should Lynch be satisfied with this guaranty? Would he be satisfied if the president of the milk company, who was also a director, affirmed that the manager had authority to sign the guaranty? Explain.

Ralph owned a retail meat market. Ralph’s agent Sam, without authority but purporting to act on Ralph’s behalf, borrowed $7,500 from Ted. Although he never received the money, Ralph repaid $700 of the alleged loan and promised to repay the rest. If Sam had no authority to make the loan, is Ralph liable? Why?

A guest arrived early one morning at the Hotel Ohio. Clemens, a person in the hotel office who appeared to be in charge, walked behind the counter, registered the guest, gave him a key, and took him to his room. The guest also checked valuables (a diamond pin and money) with Clemens, who signed a receipt on behalf of the hotel. Clemens in fact was a roomer at the hotel, not an employee, and had no authority to act on behalf of the hotel. When Clemens absconded with the valuables, the guest sued the hotel. Is the hotel liable? Why?

Question C1 You just graduate from University of Hong Kong, major in Management. You are employed by Standard Chartered Bank as wealth management associate. During your training, you are given the situation for practice.

Mary and Eddie, ages 43 and 47, have a daughter who is completing her first year of university and a son three years younger. Currently, they have $200,000 in savings and investment funds set aside for their children’s education. With increasing education costs, they are concerned whether this amount is adequate. In recent months, Mary’s mother has required extensive medical attention and personal care assistance. Unable to live alone, she is now a resident of a long-term care facility. The cost of this service is $6,750 a month, with annual increases of about 5 percent. While a major portion of the cost is covered by Social Security and her savings, Mary’s mother is unable to cover the entire cost. In addition, Mary and Eddie are concerned about saving for their own retirement. While they have consistently made annual deposits to a retirement fund, current financial demands may force them to access some of that money

Required:

a. Identify the main financial planning issues that need to be addressed.

b. Suggest any TWO additional information, one in quantitative and one in qualitative you need before making recommendation.

c. Based on the information provided and your assessment of the situation, recommend TWO most appropriate actions. (Total 25 marks)