Wesson United is considering updating its equipment to meet increased demand for its product. The cost of the equipment update is $380,000, plus $20,000 in installation costs. Due to the increased sales, there will be an additional $40,000 working capital needed. The company will depreciate the equipment to zero over its 5 year life using a straight-line depreciation method. Additional sales revenue from the modifications should amount of $220,000 per year, and additional operating expenses and other costs (excluding depreciation) will amount to 35% of the additional sales. The company has an ordinary tax rate of 30%. Wesson’s market value balance sheet shows a capital structure of 60% debt and 40% ordinary shares. The firm expects to maintain this debt equity mix. Its outstanding bonds offer investors a 5.4% yield to maturity. The risk-free rate currently equals 5%, and the expected risk premium on the market portfolio equals 6%. Wesson’s ordinary equity beta is 1.5.

a) What is Wesson company’s required return on equity?                        

b) What opportunity cost of capital should Wesson Company use to evaluate the above project?

c) What incremental operating cash flows will result if Wesson updates its equipment?

i) at time zero

ii) each of years 1-4 of the project

iii) at the end of the project (year 5)

d) What is the value (NPV) of this project?

e) Should Wesson update the equipment? Why or why not?

A company acquires a(n) ____ to reimburse the company in the event of an employee fraud.

(2pts)

indemnity contract

fraud option contract

defalcation policy

fidelity bond

None of the above

32)

Pick and pack is a step in the

(2pts)

order-to-cash process

pay-to-play process

general ledger process

purchase-to-pay process

All of the above

None of the above

33)

Assuring that cash collections recorded in the cash receipts event data are credited to the right customer in the accounts receivable master data addresses the control goal of:

(2pts)

ensure input completeness

ensure update completeness

ensure update accuracy

ensure input accuracy

All of the above

None of the above

34)

When prenumbered documents are used in random order in a batch data entry process, a ______ would likely be used at the start of the batch processing run as a check for omitted documents.

(2pts)

confirm input acceptance check

key verification check

hash total check

cumulative sequence check

All of the above

None of the above

35)

Establishing a viable internal control system is primarily the responsibility of _____.

(2pts)

the external auditors

government authorities

the internal auditors

programmers

All of the above

None of the above

36)

A warehouse supervisor prepares a sales order listing items to be shipped to a customer and then signs it approving the removal of the items from the warehouse. The supervisor is performing which functions?

(2pts)

authorizing and executing events

executing and recording events

authorizing events and safeguarding of resources

authorizing and recording events

All of the above

None of the above

Create in raptor

In this progress report, you will be focusing on setting up accounts for multiple users. You will include defensive programming and error checking to ensure your program functions like an ATM machine would. The account details for your customers are as follows:

Customer UserName Pass Savings Checking

Rober Brown rbrown blue123 2500.00 35.00

Lisa White lwhite Red456 500.00 1250.00

Mark Black mblack Green789 750.00 200.00

For this progress report, update the Progress Report 4 Raptor program to allow one of the above users at a time to safely log in to their account, complete a maximum of 3 transactions, and end the program. Three incorrect attempts at entering the user name and password will end the program. Allow the user to make up to a maximum of 3 transactions at a time. After 3 transactions, the program will terminate. After a transaction is completed, the program will update the running balance and give the customer a detailed description of the transaction. A customer cannot overdraft on their account; if they try to withdraw more money than there is, a warning will be given to the customer. Also note that the ATM doesn’t distribute or collect coins – all monetary values are in whole dollars (e.g. an integer is an acceptable variable type). Any incorrect transaction types will display an appropriate message and count as a transaction.

1 – Deposit (adding money to the account)

2 – Withdrawal (removing money from the account)

3 – Balance Inquiry (check current balance)

4 – Transfer Balance (transfer balance from one account to another)

5 – Log Out (exits/ends the program)

X Company estimates the following for its three products, A, B, and C, for 2018:

Fixed costs in 2018 are expected to be $19,800. What is the expected weighted average contribution margin rate in 2018?

1.) Jim is offered a new position that will double his taxable income for 2018. If he accepts the new position how much more will he owe the IRS in 2018?

2.) Jim's boss Ron will have $676000/year taxable income in 2018. What will he owe the IRS?

Mervin March and George Gamble are equal partners. On January 1, 2018, each had an adjusted basis in the partnership of $10,000. During 2018, the partnership borrowed $15,000, for which the partners are liable, and had an operating loss for the year of $20,000. What is the basis of each partner's interest at the end of 2018?

Goods purchased were shipped Dec. 31, 2018, and received as of 12/31/2018. The invoice was not received until January 10, 2019. FOB shipping. The company’s practice is not to record liability until the receipt of the invoice. Is this an unrecorded liability as of 12/31/18? Was 2018 net income misstated?

Highlight one artist, group, or particular style that was highly popular in the 2000's. What contributions did this artist, group, or style make to the overall hip hop industry? How has the artist, group, or style changed as it has crossed over into the mainstream?