Bogart is a listed company that reports using IFRS and has a reporting date of 30 September 2020. Bogart purchased 18% of Lupin’s 100 million $1 ordinary shares for $43 million cash on 1 October 2018, gaining significant influence. Lupin had retained earnings of $85 million and no other components of equity, on the date of purchase.

The investment in Lupin was accounted for correctly in Bogart’s individual financial statements for the year ended 30 September 2019, when Lupin had retained earnings of $150 million and no other components of equity.

Bogart acquired control over Lupin on 1 October 2019, purchasing a further 67% of its ordinary shares. Cash consideration of $160 million was correctly included in calculating goodwill. Purchase consideration included 3 million of Bogart’s own $1 ordinary shares, with a fair value of $1.40 each. No accounting entries were posted for this share consideration.

Bogart derecognised the carrying amount of the existing 18% holding in Lupin and included it in calculating the goodwill of the business combination. The carrying amount of the net assets of Lupin was also used in calculating goodwill. The fair value of the existing 18% holding was $73 million at 1 October 2019 and the fair value of the identifiable net assets of Lupin was $285 million. The excess of the fair value of net assets over the carrying amount was due to equipment with a remaining useful life of ten years. The fair value of the non-controlling interest in Lupin on 1 October 2019 was $63.8 million and was included in calculating goodwill.

On 30 September 2020, Bogart purchased an additional 5% of the ordinary shares of Lupin. The consideration transferred for these additional shares was $19 million cash, which was expensed to the consolidated statement of profit or loss. On 30 September 2020, Lupin had retained earnings of $185 million and no other components of equity

Required:

Discuss the correct recognition and measurement of this business combination in the consolidated financial statements of Bogart, showing calculations. Explain any accounting errors made and show the accounting entries required to correct those errors.

My teacher barely speaks English so your guess is as good as mine what he means. Also, this is all of the data that he gave the class and I have nothing else to share. Please don't tell me the information is misleading and or filled with typos, etc. I copied and paste what is being asked of us and that is why I am here, to get help. Please use the information that is provided to either help solve it or show me how and where the math won't work. Thank you.

Firm 3302 (name of firm)

2020. Dividends =3.23. risk free rate= 5.3%. market return = 4%. beta = 1.12

2020 Dividends =3.65. risk free rate= 6.3% market return =3.5% beta =1.22

2022. Dividends = 4.01 risk free rate= 5.2%   market return = 4.2%. beta =1.02

2023 Dividends = 3.58 risk free rate= 4.2% market return =3% market return =1.32

2024 Dividends =2.01 risk free rate=3.9% market return =2% market return =1.25

  This is our firm which is called 3302-firm expected dividend distribution table, we have many professional backups. Hence, based on us professional backups forecast, we 100% know that our dividend growth rate will be increasing in same rate after the last day of 2024. As we all know, between 2024 and infinite, we also learn that the ROE is 4% and reinvestment rate is 10%. The risk-free rate constantly equal to 4% and the market return constantly equals to 5%. Beta = 1.1. These number won’t change in the future. As we all know, between 2020 and 2024, we also learn that the ROE is 10.2% and reinvestment rate is 35%. All the numbers are listed on the table above. Question: Please find out 3302-firm’s intrinsic value today.

Assume that Brown Company owns 100% of Schroeder Corporation. Schroeder reports Stockholders’ Equity of $500,000. The Equity investment was acquired at book value (i.e., no AAP). Schroeder sells a 10% interest to outsiders for $115,000. The entry made by Brown as a result of the sale of stock by Schroeder includes:

Closter, Inc., has a bond issue with a face value of $1,000 that is coming due in one year. The value of the company’s assets is currently $1,180. Ashok Vora, the CEO, believes that the assets in the company will be worth either $970 or $1,470 in a year. The going rate on one-year T-bills is 6 percent.

Kremlin Spirits Pty Ltd (Kremlin) operates a business from premises it owns in Brisbane importing premium quality vodka. Its directors are Vasili and Svetlana (his niece). Kremlin has three shareholders: Vasili, Svetlana and Mikhail. Mikhail has lent considerable amounts of money to Kremlin over the years. Vasili controls the company’s business activities, while Svetlana does not concern herself with the day-to-day management of Kremlin’s business so that she does not really understand the business or its finances. Svetlana is currently undertaking a Bachelor of Commerce on a part-time basis and Vasili has told her that he would like her to take over the accounting side of the business when she finishes her degree in 2021. Due to the popularity of Australian wines, the vodka business falls into a slump. By early March 2020, Vasili is selectively paying trade creditors of Kremlin, having insufficient funds to pay all debts as they fall due. To prop up the company’s fortunes, however, Vasili arranges for the company to obtain a loan of $30,000 from an old friend to spend on advertising in April 2020. Despite the advertising campaign, a liquidator was appointed to wind up the company in June 2020.

Advise the liquidator in respect of the following matters under the Australian Corporations Act 2001 Cth:

(a) Whether there is any basis for recovering funds from the directors personally? If so, are there any defences that Vasili and/or Svetlana can rely on?

(b) In January 2020, Mikhail demanded that Kremlin should repay him some of the money it owed him. Vasili and Svetlana decided that Kremlin should pay half of the debt back to Mikhail.

(c) When Kremlin was established, it borrowed $100,000 from Large Bank. The loan was secured by a non-circulating security interest over the company’s premises and a circulating security interest over its assets and undertaking. Vasili and Svetlana also provided personal guarantees to the bank. When the circulating security interest was granted, neither Kremlin nor the Bank registered it on the Personal Property Securities (PPS) register. The necessary forms were provided to the bank, but a clerk at the bank lost the forms before they could be lodged.

The following balances have been extracted from the books of XYZ Company for the year to
31/12/2019

Dr Cr
US$ US$

Cash at bank and in hand 10,000
Plant and equipment:
At cost 70,000
Accumulated depreciation (at 31.12.19) 25,000
Retained earnings (at 1.2.2020) 15,000
Profit for the financial year (to 31.12.19) 20,000
Share capital (issued and fully paid) 50,000
Inventory (at 31.12.19) 27,000
Trade payables 17,000
Trade receivables 20,000

127,000 127,000

Additional information:
1 Corporation tax owing at 31 December 2019 is estimated to be $3000.
3 A dividend of 10p per share is proposed but not paid as of 31.12.2019
Prepare XYZ (1) statement of profit or loss and (2) statement of retained earnings, and (3)
a statement of financial position for the year to 31 December 2019.

Delta Corporation's capital structure consists of 20,000 common shares at December 31. At December 31, 2020 an analysis of the accounts and discussions with company officials revealed the following information:

       Sales.................................................................................................        $1,300,000

       Inventory, January 1, 2020..............................................................        150,000

       Purchases.........................................................................................        728,000

       Purchase discounts...........................................................................        18,000

       Inventory, December 31, 2020........................................................        130,000

       Tornado loss (net after $18,000 tax) ..............................................        42,000

       Selling expenses..............................................................................        148,000

       Cash.................................................................................................        60,000

       Accounts receivable........................................................................        90,000

       Common shares...............................................................................        200,000

       Accumulated depreciation...............................................................        180,000

       Dividend revenue............................................................................. 22,000

       Unearned service revenue................................................................        4,400

       Accrued interest payable.................................................................        1,000

       Land.................................................................................................        370,000

       Patents..............................................................................................        100,000

       Retained earnings, January 1, 2020.................................................        350,000

       Interest expense...............................................................................        15,000

       Prior years cumulative effect of change from straight-line to accelerated

       depreciation (net after $15,000 tax)..................................................... 45,000

       General and administrative expenses..............................................        172,000

       Dividends declared..........................................................................        52,750

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

       Notes payable (maturity July 1, 2021).............................................        200,000

       Machinery and equipment...............................................................        450,000

       Materials and supplies inventory.......................................................        40,000

       Accounts payable............................................................................        60,000

Unless indicated otherwise, you may assume a 25% income tax rate.

Required:

a)    Prepare, in good form, a multiple-step income statement

b)    Prepare, in good form, a retained earnings statement.

A Internet food delivery company advertises that it has 3 different diets that will result in weight loss if strictly followed. One diet is advertised as a moderate weight loss, a second offers a slightly more aggressive weight reduction program, and a third that is the most aggressive weight loss. The company gathers some data by taking a random sample from people using the different diets at the end of a two months trial. The data on weight loss are recorded below.

1. What type of data are these values?
2. Can these data be generalized? Explain.
3. Can cause and effect statements be made? Explain.
4. Conduct a test to see if the weight losses are equal with the three diets using a alpha of .05.
5. Construct 95% confidence intervals.
6. Write a brief conclusion to the CEO of this firm.

SUBJECT: LEADERSHIP

WORDS REQUIRED: 1500

Exercise:

What should you Do?

You have been at your company for close to five years and have had excellent reviews. You are at a midlevel management position and you like your job. It’s challenging and satisfying; you like your boss and your coworkers; your employees are great; and you have had satisfied customers and steady growth.

Nothing spectacular, but things are going very well. A new CEO has just joined the company and she has announced major changes: restructuring, moving people around, new departments and teams, a push for new products and services, new technology, several young top managers from the outside, office redesign to make things open, and much more.

Your comfortable, safe, and successful routine is being shaken up and everyone,

including you, is stressed out.

QUESTION: WHAT SHOULD YOU DO?

Donny and Mary decided to incorporate an entertainment and production company to be named
Wayang Hebat Sdn Bhd. They submitted relevant documents to the Companies Commission on
1st March 2020 and a notice of registration was issued immediately on the next day. Upon
incorporation, all their belongings were sold to the company and they gained substantial profit of
RM100,000. A disclosure of profits worth RM50,000 was made to the board of directors and
was later ratified.
On the 15th February 2020, Donny entered into a contract with Merdeka Studio for the making of
a TV drama. The contract amongst others required Merdeka Studio to create a TV drama for
Wayang Hebat Sdn Bhd who shall later pay a sum of RM50,000 to the former once the TV
drama is completed and aired by any television networks. Upon receiving the TV drama on 1st
April 2020, Wayang Hebat Sdn Bhd sold it to a well-known television station and was aired
twice since then. To date, Merdeka Studio has yet to receive any payment from Wayang Hebat
Sdn Bhd. When asked for the payment, Wayang Hebat Sdn Bhd refused to be bound by the
contract on the grounds that no approval was given to Donny to enter into such a contract on the
company’s behalf.
Based on the above given situations, advise Wayang Hebat Sdn Bhd on the following matters:

a) The sale by Donny and Mary of their belongings to Wayang Hebat Sdn Bhd
b) The contract with Merdeka Studio.