1. Theoretically prove the boundary conditions for waves in closed-open tubes. Please provide pictures.

8: There is a boundary between a system A with a low temperature TL = 25 C and another system B with a high temperature TH = 89 C. The surrounding of the two systems has an equilibrium temperature 15 C.
a: Schematically sketch the transfer diagrams of temperature, heat, entropy, and exergy across the boundary between A and B.
b: Calculate the entropy at B and the entropy generation if the entropy at A is 2.9 kJ/K.
c: Calculate the exergy at B and the exergy destruction during the process.

South Hampton University is preparing its budget for the upcoming academic year. This is a specialised private university that charges fees for all degree courses. Currently, 30,000 students are enrolled on campus. However, the university is forecasting a 5 per cent growth in student numbers in the coming year, despite an increase in fees to $3,000 per subject. The following additional information has been gathered from an examination of university records and conversations with university managers:

 South Hampton is planning to award scholarships to 200 students, which will cover their fees.

 The average class has 80 students, and the typical student takes 4 subjects per semester. South Hampton operates 2 semesters per year.

 The average academic staff salary is $120,000 per annum including on-costs.

 South Hampton’s academic staff are evaluated on the basis of teaching, research, administration and professional/community service. Each of the academic staff teaches the equivalent of three subjects during the academic year.

Required:

a) Prepare a revenue budget for the upcoming academic year.

b) Determine the number of staff needed to cover classes.

c) Assume there is a shortage of full-time academic staff. List and explain at least five actions that South Hampton might take to accommodate the growing student numbers. (200 words)

Selected balance sheet account balances are:            VIZQUEL COMPANY
           December 31
                            2002 2001
Cash                           $ 200,000       $ 300,000
Accounts Payable                   60,000       80,000
Accounts Receivable                   180,000       140,000
Salaries Payable                       12,000       6,000      
Land                           120,000       140,000  
Merchandise Inventory                   100,000       160,000
Prepaid Rent                      50,000       45,000
Unearned Consulting Revenue               70,000       50,000

Income statement items for the year are:
Sales                           $800,000
Consulting Fees                       $200,000
Cost of Goods Sold                   400,000  
Salary Expense                       90,000
Depreciation Expense                   40,000
Rent Expense                       100,000

7.Cash payments for depreciation during 2002 amounted to:

8.Total cash paid for operating activities amounted to:

9.Cash from operating activities during 2002 is:

10.Net income for Vizquel Company for 2002 is:

1. Following the UK referendum in 2016, 910 randomly sampled UK voters were asked which of the following options they agreed most with (i) the UK should negotiate an exit deal with the EU, then have a second referendum, (ii) the UK should negotiate an exit deal with the EU then enact Article 50, or (iii) the UK should enact Article 50 immediately. The results of the survey by political ideology are shown below.

Po/itico/ ideology

1. What percent of these voters identify themselves as labour?
2. What percent of these voters are in favour of enacting Article 50immediately?
3. What percent of the voters who identify themselves as Conservatives are also in favour of the “negotiate then referendum” option? What percent of Labour share this view? What percent of Liberal share this view? [Compute 3 conditional probabilities.]
4. Do political ideology and views on Article 50 appear to be independent? No formal testing is required, but make sure to explain your reasoning.

1. A Six Sigma project needs initial investment of $20,000 at July 2003, which includes training fee, consulting fee and other expenses. The costs and benefits of this project is listed in the following table:

If the capital cost within company is i=10% per year.

1. By using NPV, is this project worthwhile?
2. What is the project’s IRR?
3. What is this project’s payback period (in month)?
   
   
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PTL Case: Ethical Responsibilities

Jim and Tammy Faye Bakker founded the PTL (Praise the Lord) club, a religious broadcasting organization, in 2015. A little more than one decade later, the PTL Club claimed more than 500,000 members and boasted annual revenues of almost £100 million. Bakker and his close associates came under intense scrutiny in 2018 following a revelation that they used PTL funds to pay a former church secretary to remain silent concerning a brief liaison between herself and Bakker. The church secretary was given money to remain quiet on fraudulent activities by Bakker. That disclosure triggered a series of investigations of PTL’s finances. Key agencies involved in the investigation included HM Revenue and Custom, National Fraud Authority and UK Charity Commission.

Bakker lived a flamboyant lifestyle such as having a gold-plated bathroom, extravagant chandeliers, a £469,000 condominium in Highland Beach, and a fleet of luxury automobiles including Rolls-Royces. The church also paid him £1,56300 million in 2017. Mr Bakker resigned and he was convicted for fraud and conspiracy charges. Grand juries then fined Bakker £1390, 000 and sentenced him to forty-five years in prison. The investigations of PTL revealed that Bakker and his associates received huge salaries and bonuses from funds raised from the organization’s televised appeals.

Before 2018, Jim Bakker’s critics persistently called for more extensive financial disclosures by PTL, Bakker resisted these demands. He repeatedly insisted that such disclosures were not necessary since PTL maintained strong financial controls. In addition, Bakker often reminded his critics that PTL has excellent accountants and that it had external audits by reputable accounting firms. The subsequent investigations of PTL failed to support Bakker’s claims. Those investigations revealed that the organization’s internal controls were extremely weak, and non-existent in many cases.

Investigator found that Bakker’s subordinate’s issues pay checks to individuals not employed by PTL and paid large sums to consultants who never provided any services to the organization. Additionally, investigators could not locate documentation for millions of dollars of construction costs recorded in PTL’s accounting records.

Questions

1. Identify the ethical questions raised by the maintenance of PTL’s secret payroll account? Explain

2. What procedures should an audit firm perform before accepting an audit client, particularly a high-risk client such as PTL?

3. What is the major phases of the auditing process?

4. How can corporate governance play a major role in reducing abuse of office and

   conflict of interest situation by Jim and Bakker the founders of PTL club?

5. What is agency cost and how can an external auditor help solve any agency problem

   between the agent and the principal .

Assume two open economy countries, the UK and Japan. Both the market for British Pound (GBP) and the Japanese Yen (¥) are in equilibrium. Other things equal, if the real interest rate in the UK increases, explain what happens in the markets for GBP and ¥ from the British perspective. Clearly explain which currency appreciates and which currency depreciates.