Case Background

A sole proprietor (the owner) has established a service business specializing in recruitment for businesses needing specialized Tool Industry staff. The trail balance at the end of the first three months of operations is provided below. Part of the service is to train people before they are placed with companies. The owner has asked, you, the accountant for HR, to prepare the answers to the questions below considering the notes provided.

Trial Balance

Notes

1. The owner issued a cheque for $2,000 for insurance for the next three month after discovering there was no insurance in place. The cheque has not been recorded as a reduction of cash to-date. There is no insurance expense for the first three months.

2. The equipment must be depreciated for three months. The equipment has a service life of 5 years and monthly depreciation is estimated to be $833 a month.

3. Recorded revenue of $5,000 is unearned and was an advance from a client. This revenue will be earned in the next three months.

4. Salaries of $15,000 were paid in the first three months. However, $1,000 of salaries should be accrued as employees earned these salaries but will not be paid until the 4th month.

5. The owner provided services of $2,500, which were not invoiced or billed to clients in the 3rd month but were earned in accordance with the Revenue Principle.

6. Interest expense (Debit) needs to be recorded at the end of three months. The amount is $750 and should be recorded as a liability in Interest Payable (Credit) on the balance sheet. None of the $50,000 note has been paid to lenders yet. This note will be paid back at the end of 5 years.

7. Supplies of $1,500 must be expensed to Cost of Goods Sold (i.e., moved out of inventory) and a new accrual of Accounts Payable should be established for $2,000 for supplies ordered at the end of the 3rd month, and not booked to-date.

Questions to Answered

1. Prepare a multiple step external income statement and classified balance sheet for the owner.

Case Background

A sole proprietor (the owner) has established a service business specializing in recruitment for businesses needing specialized Tool Industry staff. The trail balance at the end of the first three months of operations is provided below. Part of the service is to train people before they are placed with companies. The owner has asked, you, the accountant for HR, to prepare the answers to the questions below considering the notes provided.

Trial Balance

Notes

1. The owner issued a cheque for $2,000 for insurance for the next three month after discovering there was no insurance in place. The cheque has not been recorded as a reduction of cash to-date. There is no insurance expense for the first three months.

2. The equipment must be depreciated for three months. The equipment has a service life of 5 years and monthly depreciation is estimated to be $833 a month.

3. Recorded revenue of $5,000 is unearned and was an advance from a client. This revenue will be earned in the next three months.

4. Salaries of $15,000 were paid in the first three months. However, $1,000 of salaries should be accrued as employees earned these salaries but will not be paid until the 4th month.

5. The owner provided services of $2,500, which were not invoiced or billed to clients in the 3rd month but were earned in accordance with the Revenue Principle.

6. Interest expense (Debit) needs to be recorded at the end of three months. The amount is $750 and should be recorded as a liability in Interest Payable (Credit) on the balance sheet. None of the $50,000 note has been paid to lenders yet. This note will be paid back at the end of 5 years.

7. Supplies of $1,500 must be expensed to Cost of Goods Sold (i.e., moved out of inventory) and a new accrual of Accounts Payable should be established for $2,000 for supplies ordered at the end of the 3rd month, and not booked to-date.

Questions

1. Calculate the mark-up on total costs for the owner.

Mesmerizing Marketers (MM) is a marketing company that offers a variety of marketing offerings to its customers. Specifically:

MM a $1M, build $500K, build a$250K. amounts MM to the the arenot is, independently other a customer purchases all aforementioned items together, the total cost is $1.5M. Payment terms are 50 percent consideration due at contract signing, with the remaining 50 percent due over the rest of the development period (25 percent at mid-point,the app is downloaded 500K times or more in the first month, there is a one-time bonus of $250K payable to MM.

Stone, a customer, approaches MM with the hopes of reinventing its image to a younger customer base. Stone has a verbal agreement with MM that is based on MM’s unsigned quote to Stone on November 30, 20X5, for one TV commercial, one app, and a Facebook page. The agreement creates enforceable rights and obligations pursuant to MM’s customary business practices. None of these items can be redirected by MM to another customer. MM performed a credit check on Stone and has determined that Stone has the intention and ability to pay MM for fulfilling its portion of the contract. Stone is required to pay MM for performance completed to date if Stone cancels the contract with MM for reasons other than MM’s failure to perform under the contract as promised.

Stone makes a payment on November 30, 20X5, in the amount of $750K pursuant to the agreement. From the date of the quote, it takes MM six months to develop and produce the TV commercial, two weeks to complete the Facebook page, and three months to complete a fully functioning app. MM does not think that the app will be downloaded 500K times in the first month because Stone’s customer base does not quickly accept newly developed technology. On the basis of its experience with similar technology, MM has determined that it takes over three months for Stone’s users to begin to download its apps.

REQUIRED: MM’s CFO is trying to understand the new revenue recognition model and has asked you to explain how MM would account for the above scenario under the new standard. Answer the following circumstances

A) How should MM account for the above offering with Stone under the new revenue recognition model?

B) How would your conclusions change if: The app sold to Stone is actually downloaded more than 500K times in the first month?

C) MM believed at the outset that there is about 75 percent chance that the app will be downloaded more than 500K times and it is probable that there will not be a significant reversal of revenue?

Please show work and explain each letter answer please!!!

Decentralized Activities

Differential Analysis and Product Pricing. Decentralized Operations is when decision making and authority is transferred to subunits of the company. This is the difference in revenue and expenses between different products. Please choose a company which produces more than one product. Take at least two of these products and discuss the different costs between these two products which may make one more profitable than the other.

Question 5 During the year ending 30th April 2020, Borg plc entered into a contract to build a factory for a price of £1,000,000, plus a performance bonus of £100,000 if the factory was complete by 31st March 2021. The contract met the criteria for revenue to be recognised over time. Due to delays caused by poor weather the directors of Borg did not expect to complete the factory by 31st March 2021. Where relevant, Borg plc measures completion based on an independent valuer. The following information relates to the contract as at 30th April 2020: £ Costs incurred to date 600,000 Estimate of the costs to complete the contract 200,000 Value of work certified by independent expert 750,000 Amounts invoiced to date 665,000 Requirements IFRS 15 contains three criteria regarding when revenue should be recognised over time as opposed to at a point in time.

State any TWO of the three criteria.

Explain how the directors should treat the performance bonus with respect to revenue recognition.

Prepare the relevant Statement of profit or loss and Statement of financial position extracts in respect of the above contract for the year ended 30th April 2020.

A political researcher wishes to know if political affiliation and age are related. He has collected data on 510510persons in three age categories. Is there evidence that age and political affiliation are related?

Step 2: Find the expected value for the number of democrats that are 18-31 years old. Round your answer to one decimal place. (E18-31 and democrat=)

Step 3: Find the expected value for the number of independents that are 32-51 years old. Round your answer to one decimal place. (E32-51 and independent=)

Step 4: Find the value of the test statistic. Round your answer to three decimal places.

Step 5: Find the degrees of freedom associated with the test statistic for this problem.

Step 6: Find the critical value of the test at the 0.05 level of significance. Round your answer to three decimal places.

Step 7: Make the decision to reject or fail to reject the null hypothesis at the 0.05 level of significance. (Fail to reject the null hypothesis or reject the null hypothesis)

Required information

[The following information applies to the questions displayed below.]

All-Canadian, Ltd. is a multiproduct company with three divisions: Pacific Division, Plains Division, and Atlantic Division. The company has two sources of long-term capital: debt and equity. The interest rate on All-Canadian’s $404 million debt is 9 percent, and the company’s tax rate is 30 percent. The cost of All-Canadian’s equity capital is 10 percent. Moreover, the market value of the company’s equity is $606 million. (The book value of All-Canadian’s equity is $434 million, but that amount does not reflect the current value of the company’s assets or the value of intangible assets.)

The following data (in millions) pertain to All-Canadian’s three divisions.

Compute All-Canadian’s weighted-average cost of capital (WACC). (Do not round intermediate calculations. Round your final answer to 2 decimal places (i.e., .1234 should be entered as 12.34).)

Compute the economic value added (or EVA) for each of the company's three divisions. (Do not round intermediate calculations. Enter your final answers in dollars and not millions.)

*****************************C PROGRAMMING****************************************************

char social[][12] = {"164-55-0726","948-44-1038","193-74-0274","458-57-2867","093-00-1093","159-56-9731","695-21-2340","753-66-6482", "852-73-4196","648-81-1456","879-61-1829","123-87-0000","000-65-3197","741-85-9632","963-25-7418"};

Create a function to scan all of the patient's social security numbers and detect if any of them are
invalid.
A Social Security Number (SSN) consists of nine digits, commonly written as three fields separated by
hyphens: AAA-GG-SSSS. The first three-digit field is called the "area number". The central, two-digit field
is called the "group number". The final, four-digit field is called the "serial number". Any SSN conforming
to one of the following criteria is an invalid number:

Any field all zeroes (no field of zeroes is ever assigned).
First three digits above 740
If you detect an invalid social security number, print the patient's name, their social security number,
and then either "area number", "group number", or "serial number" to indicate where the problem with
the social security number was detected.

Suppose that three student organizations are interested in holding TA review session for the upcoming Econ101 Final. Each student organization has different values for these TA review sessions. The willingness to pay for each organization is given by the following demand curves where P is the price per hour of TA-led review sessions and Q is the number of hours of TA-led review sessions: Student Organization A: PA = 40 ? 5Q Student Organization B:PB = 30 ? Q Student Organization C: PC = 70 ? 2Q The cost of providing one hour of a TA-led review session is $20. Hence, the MC of an additional hour of a TA-led review session is MC = $20. The cost of providing one hour of a TA-led review session is $20. Hence, the MC of an additional hour of a TA-led review session is MC = $20. a) Suppose this market is treated as a competitive market. How many hours of review sessions will each organization want to have? How much will each organization contribute or pay for an hour of TA-led review session? Are there any free riders in this market? Explain your answer. b) Find the aggregate demand for this good if we recognize that it is a public good. c) What is the socially optimal number of hours of TA-led review sessions? How much should each organization contribute per hour in order to get the socially optimal number of hours of TA-led review sessions? Your answer may be left in fractions and does not need to equal a whole number of hours.