programmer closed innovation collective after 2010 before 2020 questions

Questions

There are 1000 mailboxes at a post office, numbered 1, 2, 3, …, 1000. There are...

There are 1000 mailboxes at a post office, numbered 1, 2, 3, …, 1000. There are also 1000 mailbox owners, one for each mailbox. At the start of the Mailbox Challenge, all mailboxes are closed and the owners open and close the mailboxes according to the following rules:

Owner 1 opens every mailbox.

Owner 2 closes every second mailbox; that is, lockers 2, 4, 6, 8, …, 1000.

Owner 3 changes the state of every third locker, closing it if it is open and

opening it if it is closed.

Owner n changes the state of every nth mailbox, etc.

When all the owners have taken their turns, how many mailboxes are open?

In: Advanced Math

In 2013, Apple Inc. sold $17 billion of bonds in the biggest corporate offering on record...

In 2013, Apple Inc. sold $17 billion of bonds in the biggest corporate offering on record as the iPhone maker seeks to help finance a $100 billion capital reward for shareholders. This financial policy changed Apple’s capital structure significantly. The leverage ratio of Apple increased after the buyback of common stocks and the issuance of long-term bonds. Repurchase is a way to give it back to shareholders. It is especially the case for Apple as the company has been piling up cash and now shows signs of a slowdown in innovation and growth.

There are several ways a firm could give back to loyal shareholders. Companies could reward shareholders by paying dividends, using existing cash to buy back shares, granting preferred stocks to existing shareholders, or issuing bonds to buy back shares.

Discuss:

What is the potential impact of the policy on Apple’s capital structure? Discuss Apple’s financial positions, profitability and risk by analyzing the commitment of cash payment, the tax liabilities, the risk of financial distress, and the growth opportunities.
Do you think issuing bonds and using the cash to buy back shares is Apple’s best financial strategy? What would you recommend?

In: Accounting

35. Which of the following is TRUE about the threat of substitutes? When threatened by substitutes,...

35. Which of the following is TRUE about the threat of substitutes?

		When threatened by substitutes, existing competitors will increase their prices.
		Innovation makes an existing product or service more attractive to its customers.
		If there are numerous substitutes, the firm's profit margins and revenues will decline.
		If the competitors are strong, existing competitors will not react strongly to the threat of substitutes.

36. When a firm needs to raise money via a bond issue, one of the quickest ways is through a ________. This activity involves the purchase of a large block of securities by a large institutional investor such as a pension fund, an endowment fund, or an insurance company.

		private placement
		public placement.
		secondary offering.
		none of the above

37

Which of the following is NOT a disadvantage of a sole proprietorship as a form of business organization compared to the corporate form of business organization?

		Access to the capital markets
		Unlimited liability of the owners
		Subject to the double taxation
		Limited liability of the shareholders

43 To estimate the after-tax cost of preferred stock you must:

		multiply the cost of preferred by (1 - the tax rate).
		multiply the cost of preferred by (1 + the tax rate).
		multiply the cost of preferred by (the tax rate).
		None of the above because preferred dividend payments are not tax deductible for the firm

In: Finance

QUESTION THREE

QUESTION THREE

Joe Soap owns a general dealer business situated in Umzinto. The following information was provided for Joe’s General Dealers for the financial year ended 28 February 2020.

Joe’s General Dealers

Pre-adjustment trial balance as at 28 February 2020	Debit - R	Credit - R
Vehicles at cost Equipment at cost Accumulated depreciation: vehicles Accumulated depreciation: equipment Inventory: trading (1 March 2019) Trade debtors control Bank Capital Drawings Loan term borrowing from People’s Bank Trade creditors control Sales Sales returns Purchases Purchases returns Carriage on purchases Carriage on sales Insurance on purchases Commission income Rental income Settlement discounts received T0 be deducted from Settlement discounts granted relevant trading items Insurance Electricity and water Packing material Sundry expenses	507 800 448 500 184 900 55 680 169 560 131 000 5 580 672 400 4 596 3 750 987 1 395 25 725 15 300 13 800 273 822	107 300 147 700 403 300 300 000 65 000 1 413 585 2 735 54 000 19 500 1 675
	2 514 795	2 514 795

Additional information

Physical stock-take on 28 February 2020 revealed the following Inventories on hand;

Trading inventory R228 250, and
Consumable inventory: packing material R3 600

A new tenant rented a portion of the premises from 1 March 2019. According to the rental agreement the rent for the period 1 March 2019 to 31 March 2020 was R1 500 per month. Rent is usually received in advance ie. rent is received in the month before it is due. For example; the April 2019 rent was received during March 2019.
Commission income of R10 800, earned in February 2020, has not yet been received nor recorded.
Electricity and water of R1 600 for February 2020 has not been paid and is not yet included in the above records.
The long term loan from People’s Bank was obtained on 1 September 2016 at an interest rate of 11,5% per year. The loan was payable in four (4) equal annual instalments. The first instalment was paid on 31 August 2019. The second instalment is payable on 31 August 2020. Interest is paid during March each year.
A debtor who owes Joe’s General Dealers R12 680 cannot be traced. His account must be written-off as irrecoverable.
The insurance account balance of R25 725 covers the period 1 March 2019 to 30 April 2020. The monthly insurance premium remained unchanged during this period.
Provide for depreciation for the year as follows:

Vehicles – at 10% per year on straight line method, and
Equipment – at 14% on the diminishing balance method.

There were no purchases or sales of the above items during the current financial year.

Required:

Use the above information to prepare the statement of profit and loss and other comprehensive income for Joe’s General Dealers for the year ended 28 February 2020.

Your answer must comply with International Financial Reporting Standards that are appropriate to this type of business.

Round off all amounts to the nearest rand.

All calculations must be shown

In: Accounting

Complete the Table by Choosing one of the following options to analyse each Transaction of Ben...

Complete the Table by Choosing one of the following options to analyse each Transaction of Ben Bicycle Traders for February 2020

Yes – Debit entry

Yes- Credit Entry

No Entry

Transaction:

General Journal

Bank account (General Ledger)

Bank Reconciliation Statement

A comparison of the Bank Statement of Bicycle Traders for February 2020 with the Bank reconciliation Statement at 31 January 2020, and the Cash Reports for February 2020, revealed the following:

The Bank account at 31 January 2020 had an unfavourable balance of R11 000
The cash Reports of Feb 2020 reflected the following amounts:
1. Total Cash Receipts of R45390
2. Total Cash payments of R39650
The Bank Reconciliation statement at 31 January 2020 reflected the outstanding Deposit of 2 Debtors, Z. Bently for R4300 and A. Roggers for R3500 . The bank credited the deposit From Z Bently on 1 Feb 2020
On 5 Feb 2020 , it was discovered that the A.Roggers a Debtor , provided a Fictitious proof of payment on 31 January 2020 to the accountant of Bicycle Traders . The amount of R3500 was not deposited into the bank account .
An amount paid for telephone was entered incorrectly as R2509 in the cash payments report , but shown correctly as R2905 on the bank statement .
The following amount appeared on the bank statement but wasn’t recorded by the accountant in the cash reports
1. Interest on a Fixed Deposit R895
2. Stop Order for insurance R1245
On 29 Feb 2020, a tenant of Ben Bicycle, D Donald, paid R2000 of his total rental of R6500 in cash and the balance via EFT. The cash received and the EFT were correctly recorded by the entity. The accountant however only deposited the cash on 1 March 2020, the EFT immediately reflected in the Bank account
The bank statement reflected an unfavourable balance of R11506 on 29 Feb 2020

In: Accounting

Presented here are summarized data from the balance sheets and income statements of Wiper Inc.: WIPER...

Presented here are summarized data from the balance sheets and income statements of Wiper Inc.:

WIPER INC.
Condensed Balance Sheets
December 31, 2020, 2019, 2018
(in millions)
	*2020*		2019		2018
Current assets	$	734	$	959	$	813
Other assets		2,421		1,928		1,727
Total assets	$	3,155	$	2,887	$	2,540
Current liabilities	$	585	$	838	$	731
Long-term liabilities		1,555		1,015		883
Stockholders’ equity		1,015		1,034		926
Total liabilities and stockholders' equity	$	3,155	$	2,887	$	2,540

WIPER INC.
Selected Income Statement and Other Data
For the year Ended December 31, 2020 and 2019
(in millions)
	*2020*		2019
Income statement data:
Sales	$	3,058	$	2,921
Operating income		304		318
Interest expense		92		73
Net income		215		210
Other data:
Average number of common shares outstanding		42.1		47.5
Total dividends paid	$	58.0	$	53.1

Required:

Calculate return on investment, based on net income and average total assets, for 2020 and 2019.
Calculate return on equity for 2020 and 2019.
Calculate working capital and the current ratio for each of the past three years.
Calculate earnings per share for 2020 and 2019.
If Wiper's stock had a price/earnings ratio of 13 at the end of 2020, what was the market price of the stock?
Calculate the cash dividend per share for 2020 and the dividend yield based on the market price calculated in part e.
Calculate the dividend payout ratio for 2020.
Assume that accounts receivable at December 31, 2020, totaled $317 million. Calculate the number of days' sales in receivables at that date.
Calculate Wiper's debt ratio and debt/equity ratio at December 31, 2020 and 2019.
Calculate the times interest earned ratio for 2020 and 2019.

In: Accounting

Vertical Analysis of Income Statement Revenue and expense data for Innovation Quarter Inc. for two recent...

Vertical Analysis of Income Statement

Revenue and expense data for Innovation Quarter Inc. for two recent years are as follows:

Current Year Previous Year
Sales $450,000 $387,000
Cost of goods sold 270,000 212,850
Selling expenses 72,000 69,660
Administrative expenses 76,500 61,920
Income tax expense 13,500 15,480

a. Prepare an income statement in comparative form, stating each item for both years as a percent of sales. If required, round percentages to one decimal place. Enter all amounts as positive numbers.

Innovation Quarter Inc.
Comparative Income Statement
For the Years Ended December 31
Current year Amount Current year Percent Previous year Amount Previous year Percent
Sales $450,000 % $387,000 %
Cost of goods sold 270,000 % 212,850 %
$ % $ %
Selling expenses 72,000 % 69,660 %
Administrative expenses 76,500 % 61,920 %
$ % $ %
% %
Income tax expense 13,500 % 15,480 %
$ % $ %

b. The vertical analysis indicates that the cost of goods sold as a percent of sales by 5 percentage points, while selling expenses by 2 percentage points, and administrative expenses by 1 percentage points. Thus, net income as a percent of sales by 3 percentage points.

In: Accounting

Vertical Analysis of Income Statement Revenue and expense data for Innovation Quarter Inc. for two recent...

Vertical Analysis of Income Statement

Revenue and expense data for Innovation Quarter Inc. for two recent years are as follows:

	Current Year	Previous Year
Sales	$392,000	$353,000
Cost of goods sold	231,280	180,030
Selling expenses	62,720	70,600
Administrative expenses	70,560	60,010
Income tax expense	11,760	17,650

a. Prepare an income statement in comparative form, stating each item for both years as a percent of sales. If required, round percentages to one decimal place. Enter all amounts as positive numbers.

Innovation Quarter Inc.
Comparative Income Statement
For the Years Ended December 31
	Current year Amount	Current year Percent	Previous year Amount	Previous year Percent
Sales	$392,000	%	$353,000	%
Cost of goods sold	231,280	%	180,030	%
	$	%	$	%
Selling expenses	62,720	%	70,600	%
Administrative expenses	70,560	%	60,010	%
	$	%	$	%
		%		%
Income tax expense	11,760	%	17,650	%
	$	%	$	%

b. The vertical analysis indicates that the cost of goods sold as a percent of sales by 8 percentage points, while selling expenses by 4 percentage points, and administrative expenses by 1 percentage points. Thus, net income as a percent of sales by 3 percentage points.

In: Accounting

Vertical Analysis of Income Statement Revenue and expense data for Innovation Quarter Inc. for two recent...

Vertical Analysis of Income Statement

Revenue and expense data for Innovation Quarter Inc. for two recent years are as follows:

	Current Year	Previous Year
Sales	$511,000	$439,000
Cost of goods sold	281,050	219,500
Selling expenses	91,980	87,800
Administrative expenses	97,090	79,020
Income tax expense	15,330	21,950

a. Prepare an income statement in comparative form, stating each item for both years as a percent of sales. If required, round percentages to one decimal place. Enter all amounts as positive numbers.

Innovation Quarter Inc.
Comparative Income Statement
For the Years Ended December 31
	Current year Amount	Current year Percent	Previous year Amount	Previous year Percent
Sales	$511,000	%	$439,000	%
Cost of goods sold	281,050	%	219,500	%
	$	%	$	%
Selling expenses	91,980	%	87,800	%
Administrative expenses	97,090	%	79,020	%
	$	%	$	%
		%		%
Income tax expense	15,330	%	21,950	%
	$	%	$	%

b. The vertical analysis indicates that the cost of goods sold as a percent of sales by 5 percentage points, while selling expenses by 2 percentage points, and administrative expenses by 1 percentage points. Thus, net income as a percent of sales by 2 percentage points.

In: Accounting

Revenue and expense data for Innovation Quarter Inc. for two recent years are as follows: Current...

Revenue and expense data for Innovation Quarter Inc. for two recent years are as follows:

	Current Year	Previous Year
Sales	$597,000	$543,000
Cost of goods sold	370,140	304,080
Selling expenses	89,550	97,740
Administrative expenses	101,490	81,450
Income tax expense	11,940	21,720

a. Prepare an income statement in comparative form, stating each item for both years as a percent of sales. If required, round percentages to one decimal place. Enter all amounts as positive numbers.

Innovation Quarter Inc.
Comparative Income Statement
For the Years Ended December 31
	Current year Amount	Current year Percent	Previous year Amount	Previous year Percent
Sales	$597,000	%	$543,000	%
Cost of goods sold	370,140	%	304,080	%
Gross profit	$	%	$	%
Selling expenses	89,550	%	97,740	%
Administrative expenses	101,490	%	81,450	%
Total operating expenses	$	%	$	%
Income from operations		%		%
Income tax expense	11,940	%	21,720	%
Net income	$	%	$	%

b. The vertical analysis indicates that the cost of goods sold as a percent of sales by 6 percentage points, while selling expenses by 3 percentage points, and administrative expenses by 2 percentage points. Thus, net income as a percent of sales by 3 percentage points.

In: Accounting