Promoting international trade is not a zero-sum game. It is a win-win proposition; both parties gain from trade.

Consider the following:

• Tariffs are paid by the citizens of the country imposing tariffs, not by the citizens of the country producing the products upon which the tariffs are levied.
• The term “trade deficits” is a misnomer. Every country’s trade is always in balance.
• Trade deficits do not mean the US no longer produces anything to export. The US is the world’s second largest manufacturer and the world’s second largest exporter of manufactured goods.
• Trade deficits reflect a strong economy. Trade deficits rise during economic expansions and fall during economic contractions. Unemployment falls as trade deficits rise and rises as trade deficits fall.
• Imports and exports are complements, not competitors. Both are necessary and both contribute to economic growth.
• Roughly one-third of all US imports and exports is trade between US multinational companies and their overseas subsidiaries.
• Foreign-owned companies operating in the US number in the thousands and provide directly or indirectly jobs for more than 13 million US workers (roughly, 10% of the US workforce).
• US trade deficit in goods in 2018 (as a % of GDP) was the same as it was 5, 10 and 15 years earlier.
• The rise in US goods trade deficit with China has not increased the US total goods trade deficit. It has been offset by reduced goods imports from other trading partners.
• There is a strong correlation between the rise in world trade and:
• The rise in world GDP
• The dramatic fall in the world’s extreme poverty rate
• The rise in world life expectancy
• For every US manufacturing job lost to trade between 2000 and 2010, seven US jobs were lost to domestic productivity improvements. Those seven jobs cannot be brought back from overseas because they never left the US.

Write an evaluation of credible economists’ unbiased opinions on the benefits, costs, and results of current US trade and tariff policies. Complete the following in your evaluation:

• Evaluate how US trade policy changes in the last 2 years affect global trade activities by multinational corporations.
• Discuss credible economists’ opinions on the long-term effects of trade and tariff policies changes in the last 2 years.
• Explain the effect of recent changes to trade and tariff policies have had on your employer, you, or someone you know.

On December 31, 2020, Bramble Company borrowed $60,888 from Paris Bank, signing a 5-year, $102,600 zero-interest-bearing note. The note was issued to yield 11% interest. Unfortunately, during 2022, Bramble began to experience financial difficulty. As a result, at December 31, 2022, Paris Bank determined that it was probable that it would receive back only $76,950 at maturity. The market rate of interest on loans of this nature is now 12%.

Prepare the entry to record the issuance of the loan by Paris Bank on December 31, 2020. (Round present value factor calculations to 5 decimal places, e.g. 1.25124 and final answers to 0 decimal places, e.g. 5,275. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Credit account titles are automatically indented when the amount is entered. Do not indent manually.)

List of Accounts

Prepare the entry, if any, to record the impairment of the loan on December 31, 2022, by Paris Bank. (Round present value factor calculations to 5 decimal places, e.g. 1.25124 and final answers to 0 decimal places, e.g. 5,275. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Credit account titles are automatically indented when the amount is entered. Do not indent manually.)

What are trade sanctions and embargos. List and describe an example of a global company that faces ethical issues for its operations outside the US.

Ethical scenario: (Professional Ethics)

In March 2012 the operations director of HFIC, Chris Lee, recommended to the board of directors that the company should purchase a fashion design company based in Hong Kong, Elite Fashion Limited. This was a private company with extensive experience in designing fashion clothing for markets in Asia. The full board of HFIC considered this recommendation and decided to make an offer for the company. After friendly negotiations, 100% of the shares in Elite Fashion were purchased in August 2012 for a substantial price, in cash. On 15 September 2012, the chairman of HFIC, Kenneth Chan, was visited by Jonathan Lu, the Deputy Operations Director, who said that he had acquired some disturbing information about the acquisition of Elite Fashion, which he had found by accident. It would appear that before recommending the purchase of Elite Fashion to the board of HFIC, Chris Lee had bought a substantial quantity of shares in the company from a retiring director, and had paid a low price for them. He had used a company owned by himself to make the purchase, in order to keep his identity hidden. When HFIC bought Elite Fashion, Chris Lee made a large personal profit from the sale of his shares. Jonathan Lu said that he was giving this information to Kenneth Chan in confidence, and expected his identity as the informer to be kept hidden. Kenneth Chan immediately met with Chris Lee in his office, asking whether this information was correct. Kenneth Chan did not tell Chris Lee how he had obtained the information, but Chris Lee suspected that a person in his office must have been the informer. Chris Lee confessed that the information was correct, and that he had been aware when he bought the shares in Elite Fashion that the company’s other major shareholders would be pleased to receive a takeover bid from a company such as HFIC. Chris Lee had, to date, been an excellent Chief Operations Officer, Kenneth Chan had stated his expectation to the rest of the board and also to the financial media that he wanted Chris Lee to be appointed as Chief Executive Officer of the company when the current CEO retired in a few years’ time. Kenneth Chan was shocked and disappointed by Chris Lee’s confession, and was not sure what to do. He did not know whether Chris Lee had acted illegally or was in breach of any regulations or code of conduct, and he was not sure what action (if any) should be taken against Chris Lee. He therefore considers inviting two individuals to a private meeting, to ask for their views and advice. These were people that Kenneth Chan had known for many years, and respected greatly. One of them is Jian Jiang, an enforcement officer at the Stock Exchange of Hong Kong Limited – SEHK. Jian Jiang is also a friend of Chris Lee, and they play golf together regularly. The other person is Mary Leung, a senior manager in Platinum Investments, an investment organisation that owns shares in HFIC. She has been a great supporter of HFIC and was recently responsible for a decision by Platinum Investments to buy an additional 1% of the equity shares of HFIC.

Requirement: Outline the ethical issues from the perspective of the Chairman of the Board of HFIC in the ethical scenario. If you were the Chairman, what actions would you take in both short term and long term when Mr. Chris Lee confessed his act to you.

The following data is supplied from the comparative balance sheets and income statement information from Westerman, Inc.

Additional Information:

1. Net Income for 2020 was $40,000.
2. Depreciation expense was $8,000 during 2020.
3. No long term assets were sold during the year.
4. Westerman purchased land for $24,000 during 2020.
5. Notes payable of $8,000 were repaid during the year.
6. Westerman issued new common stock for $24,000 in 2020.
7. Westerman paid cash dividends of $24,000 during the year.

Prepare the Statement of Cash Flows for Westerman using the indirect method.

Provide the following amounts:

What is the total of the net cash flows from operating activities?  

What is the total of the net cash flows from investing activities?   

What is the total of the net cash flows from financing activities?   

The average GPA at the University of North Carolina is 3.2, with a standard deviation of 0.3. Assume that all GPAs at the University of North Carolina are normally distributed.

What is the probability of randomly selecting a student at the University of North Carolina with a GPA of 2.9 or lower? Possible answers: A. 0.10 B. 0.16 C. 0.24 D. 0.31

What is the probability of randomly selecting a student at the University of North Carolina with a GPA between 2.9 and 3.5? Possible answers: A. 0.34 B. 0.68 C. 0.75 D. 0.95

What is the probability of randomly selecting a student at the University of North Carolina with a GPA higher than 3.7? Possible answers: A. 0.023 B. 0.048 C. 0.058 D. 0.977

The university would like to conduct a study to estimate the true proportion of all university students who have student loans. According to the study, in a random sample of 215 university students, 86 have student loans. (a) Construct a 95% confidence interval for estimating the true proportion of all university students who have student loans (b) Provide an interpretation of the confidence interval in part (a). (1mark) (c) Conduct an appropriate hypothesis test, at the 5% level of significance to test the claim that more than 30% of all university students have student loans. Provide the hypothesis statement Calculate the test statistic value Determine the probability value

The university would like to conduct a study to estimate the true proportion of all university students who have student loans. According to the study, in a random sample of 215 university students, 86 have student loans. (a) Construct a 95% confidence interval for estimating the true proportion of all university students who have student loans (b) Provide an interpretation of the confidence interval in part (a). (1mark) (c) Conduct an appropriate hypothesis test, at the 5% level of significance to test the claim that more than 30% of all university students have student loans. Provide the hypothesis statement Calculate the test statistic value Determine the probability value

The university would like to conduct a study to estimate the true proportion of all university students who have student loans. According to the study, in a random sample of 215 university students, 86 have student loans. (a) Construct a 99% confidence interval for estimating the true proportion of all university students who have student loans (b) Provide an interpretation of the confidence interval in part (a). (1mark) (c) Conduct an appropriate hypothesis test, at the 1% level of significance to test the claim that more than 30% of all university students have student loans. Provide the hypothesis statement Calculate the test statistic value Determine the probability value

The university would like to conduct a study to estimate the true proportion of all university students who have student loans. According to the study, in a random sample of 215 university students, 86 have student loans.

(a) Construct a 95% confidence interval for estimating the true proportion of all university students who have student loans (2 marks)

(b) Provide an interpretation of the confidence interval in part (a). (1mark)

(c) Conduct an appropriate hypothesis test, at the 5% level of significance to test the claim that more than 30% of all university students have student loans.

1. Provide the hypothesis statement
2. Calculate the test statistic value
3. Determine the probability value