Marriott Hotel data breach, explain with a report on it that answers the following question; When and where was the breach? What was the cause of the breach (be specific)? Who was affected? How severe were the effects of the data breach on the individuals affected? Were there other potential effects (e.g. identity theft) that haven't been documented yet? How did the company respond to the breach? Was there anything the company failed to do that would have prevented it? Did the company undertake any actions to prevent this (or similar things) from happening again? Was there a public outcry over the company's response to the breach? How did the company address the public's reaction? What consequences did the company or individuals at the company suffer (firings, legal liabilities, etc.)? What recommendations would you make to prevent a similar breach from occurring?.

A large number of cattle are found to have mad cow disease and as a result, consumer confidence in the safety of beef is shaken. What would an economist predict will happen to the demand curve of beef?

1. A large number of cattle are found to have mad cow disease and as a result, consumer confidence in the safety of beef is shaken. What would an economist predict will happen to the demand curve of beef?

   	A.	Consumers will move to a point lower down the beef demand curve.
   	B.	There will be an upward movement along the beef demand curve.
   	C.	The beef demand curve will shift to the left.
   	D.	The beef demand curve will shift to the right.

1 points   

QUESTION 7

1. Assume that at maximum hourly productions levels, the United States can produce either 8 yards of fabric or 4 bushels of wheat, whereas Japan can produce either 5 yards of fabric or 6 bushels of wheat. Based on this information,

   	A.	both nations will gain from specialization and trade, with the US exporting wheat to Japan, and Japan exporting fabric to the US.
   	B.	the United States will benefit from trading but Japan will not.
   	C.	both nations will gain from specialization and trade, with the US exporting fabric to Japan, and Japan exporting wheat to the US.
   	D.	beneficial trade is impossible between the two countries.

Mastery Problem: Analyzing Transactions

KL Company Inc.

In February, Katie Long formed KL Company Inc. Transactions for the month of March have been posted to the T accounts. An intern has prepared a trial balance from the T accounts, but there seem to be some errors.

T accounts

Required:

Transactions

Descriptions of the transactions for the month of March are provided in the following table. Each of the transactions that follow has been posted to the T accounts. Referring to the T accounts, select the date on which each transaction occurred, enter the amount of the transaction, and select the account to debit and credit.

Trial Balance: Unequal Totals

The intern has prepared the following trial balance for the month of March.

Trial Balance: Correct

The Trial Balance: Unequal Totals was prepared by the intern. The intern is puzzled by the unequal totals. Prepare a corrected trial balance. If an amount box does not require an entry, leave it blank.

Errors on Trial Balance

Compare the trial balance prepared by the intern (Trial Balance: Unequal Totals) to the trial balance that you prepared (Trial Balance: Correct). In the following table, select the accounts for each type of error. Not all accounts contain errors.

Accounting Equation

The intern is puzzled and asks "Are you sure the accounting equation is still in balance?" Using the corrected trial balance you prepared, prove that the accounting equation is in balance.

Still puzzled, the intern asks "Why do none of the amounts in the accounting equation equal the totals on the trial balance?"

Identify the debit or credit for the following transactions. Remember, every single transaction has at least one debit and at least one credit. However, I just want you to identify what is requested.

1,Sold merchandise on account. Identify the sale entry debit

2

3.

4.

5,

6.

7.

8.

9.

10.

11.

12.

13.

14.

15.

Choices are :

Note Payable,Unearned Rent Revenue, Cost of Goods Sold, Cash, Depreciation Expense, Miscellaneous Expense, Sales Revenue, Wages Payable, Fees Earned, Wages Expense, Accounts Receivable, Inventory, Prepaid Expenses, Note Receivable. Office Equipment, Accounts Payable, Supplies Expense. Rent Revenue, Accumulated Depreciation. Supplies

We have had Paige & Gentry as our auditors for many years, haven’t we, Jane? They have been here since I became president two years ago.” “Yes, Bob, I have been the Chief Financial Officer for seven years, and they were here before I came. Why do you ask?” “Well, they were really tough on us during the recent discussions when we were finalizing our year-end audited statements—not at all like I was used to at my last company. When we asked for a little latitude, our auditors were usually pretty obliging. Frankly, I’m a little worried.” “Why, Bob, we had nothing to hide?” “That’s true, Jane, but let’s look ahead. We’re going to have difficulty making our forecast this year, and our bonuses are on the line. Remember, we renegotiated our salary/bonus package to give us a chance at higher incentives, and we have to be careful.” “Looking ahead, we’ve got a problem with obsolete inventory that’s sure to come to require discussion for a second year in a row. We’ve got the warranty problem with the electrical harness on midrange machine which is going to cost us a bundle, but we want to spread the impact over the next three years when the customers discover the problem and we have to fix it up. And don’t forget the contaminated waste spill we just had—how much is that going to cost to clean up, if we ever get caught?” “These are potentially big ticket items. Bill Paige, the guy who is in charge of our audit, is not going to let these go by. He said the inventory problem was almost material this year and we had to argue really hard. You are a qualified accountant; how can we handle this?” “Well, Bob, we could have some informal discussions with other auditors—maybe even the ones at your old company—to see how they would handle issues like these. The word will get around to Bill and he may be more accommodating in the future, and will probably shave his proposed audit fee for next year when he meets with our Audit Committee next month. If you really wanted to play hardball, we could talk the Audit Committee into calling for tenders from new auditors. After all this time, it’s logical to check out the market, anyway. We would have advance discussions during which we would sound them out on how they would assess materiality in our company’s case. Our audit fee in getting pretty large—almost $50,000 this year—so some big firms will be really interested.” “Jane, let’s play hardball. Get a list of audit firms together for the tender process, and I will approach the Audit Committee. Be sure to list some small firms, including Webster & Co., the firm auditing my old company.” Questions 1. Who are the major stakeholders involved in this situation? 2. What are the ethical issues involved? 3. Is this situation unethical? Why and why not? 4. What should Jane do if Webster & Co. looks like the choice the Audit Committee will make and recommend to the board of directors?

Please use Excel financial functions or algebraic time value of money equations.

Prof. Business has a self-managed retirement plan through her University and would like to retire in 8years and wonders if her current and future planned savings will provide adequate future retirement income. Here’s her information and goals.

Prof. Business wants a 20-year retirement annuity that begins 8 years from today with an equal annual payment equal to $110,000 today inflated at 2% annually over 8 years. Her first retirement annuity payment would occur 8 years from today. She realizes her purchasing power will decrease over time during retirement.

Prof. Business currently has $640,000 in her University retirement account. She expects these savings and any future deposits into her University and any other retirement account will earn 7.5% compounded annually. Also, she expects to earn this same 7.5% annual return after she retires.

Answer the following questions to help Prof. Business finalize her retirement planning.

1.What is Prof. Business’ desired annual retirement income?

2.How much will Prof. Business need 8 years from today to fund her desired retirement annuity?

3.In addition to the $640,000 balance today, Prof. Business will fund her future retirement goal from question 2 by making 8 annual equal deposits at 7.5% compounded annually into her retirement accounts starting a year from today (the last deposit will be made when Prof. Business retires). How large does this annual deposit need to be in addition to the initial $640,000 invested in Prof. Business’ retirement fund?

4.This annual figure from #3 is morethan the Prof.’s current annual contribution, which makes her feel a little anxious about her future planned retirement. Also, Prof. Business’ annual retirement account contribution is based on a percentage of her salary and will increase as her salary increases. So, let’s re-plan her retirement income. Let’s account for the fact that her and the University’s contributions to Prof. Business’ University retirement plan are based on a certain percentage of her salary and will increase as her salary increases. Based on this formula, her first upcoming end of the year deposit will be $20,200 and let’s assume that her annual deposit and salary will grow at a 2% annual rate over the remaining 7 years (8 total deposits) to Prof. Business’ retirement. These deposits are in addition to the $640,000 she currently has today in the University retirement plan. Answer the following based on these assumptions. a)How much money will Prof. Business have in her retirement account immediately after her last deposit 8 years from today? b)What would be the equal annual payment from her 20-year retirement annuity whose first payment occurs exactly 8 years from today?

Written Assignment 2 – Drafting a Legal Contract Instructions:

You are a garment manufacturer and retailer in Los Angeles named “[YOUR LAST NAME]’s Academy Award Clothes” who manufactures, distributes and sells suits and other clothing from a factory/warehouse/showroom building at 711 S Hope St, Los Angeles, CA 90017. Prepare a contract for the purchase and sale of [choose and insert your favorite, most striking or outlandish color/pattern/texture combination] custom sport coats to one of your company’s biggest customers, “Century 22 Real Estate”. The customer wants to custom order and utilize these distinctive colored/textured jackets for all of their sales people to wear as walking business cards. Apply your knowledge of business, law and contracts to draft this contract. Use and insert your last name to create your company name. Determine which type of business entities the parties are (see Ch 16, pp 498-499 Business Entities chart). Be sure to insert the business entity form in the name of each party. Be sure to include ALL the relevant necessary contract provisions drafting the contract. The contract must include EACH of the following, as set forth, and IN THE NUMBERED ORDER and DETAILED, as follows: I. Introduction: In the introductory paragraph set forth the names of the parties to the written contract - buyer(s) and seller(s), and FOR EACH PARTY MUST: State party’s complete name, including designation of the type of business entity (whether a business organization or an individual) Identify what type of business entity form (LLC, Corporation, Limited Partnership, Limited Liability Partnership, General Partnership Sole Proprietor, etc.) State the individual signor’s name of that person signing on behalf of the business State the signer's official title for the company (Managing Partner, Managing Member, President, CEO, Sole-Owner, etc.) II. The specific terms of the sale including EXACTLY the following contract clause provisions NUMBERED EXACTLY IN ORDER as follows: Sale of Goods and Purchase Price. (including: description of the products, quantity, individual unit prices and total price) Invoices, Payments (incl. late fees) Delivery, Risk of Loss, Title Acceptance Notices Warranty Warranty of Title Indemnification Liquidated Damages Taxes Security Interest Time is of the Essence Severability (of individual provisions) Force Majeure (Act of God) Assignment; Delegation Arbitration and/or Mediation Provision Cancellation Governing Law and Forum Selection Service of Suit Attorney Fee Provision Severability Entire Agreement (Integration Clause statement that contract constitutes entire agreement) Counterparts III. Signatures blocks of authorized signatories with: names and official titles typed in; a line for authorized signors to sign their signature; and a line for the signing date Format: Your assignment should be typewritten with your name and class section number at the top. Upload as a PDF or WORD file. Use the SAMPLES of contracts and clause provisions (Word document) attached with this assignment, or you may perform internet searches to find the correct clauses to compose the contract.

Below is information for the year 2019 for Company A and Company B.

Interest expense $400 $0

Tax expense (40%) $400 $400

Net income $600 $600

Ending balance of total asset $10,000 $10,000

Total debt $5,000 $0

Equity $5,000 $10,000

Required: Compute the following for Year 2019

(a) Return on assets for Company A and B

(b) Financial leverage ratio for Company A and B

(c) Times interest earned ratio, after necessary adjustments for Company A if it capitalized $100 interest costs in the pension obligation during the year.

(d) “Company A has used financial leverage to increase its return to its shareholders”. Comment on this statement.