We are looking at a trillion dollar or more federal deficit in the coming year.

    1. What does it mean when the federal government has a deficit?

    2. What agency is responsible for generating the funds to cover the deficit?

    3. How does that agency raise those funds?

    4. Who supplies those funds?

A scheduled payment of $8,000 due in one year is to be replaced with two payments: the first due in 7 months and the second due in 22 months. Calculate the size of the two payments if the second payment is to be twice as large as the first payment, and money can earn 6% compounded monthly.

Why is it expected to take at least a year to develop a COVID-19 vaccine for the general public? List the steps that must be taken.

The number of new cars sold by a company in a financial year can be approximated by a normal distribution with a mean of 125,000 cars and a standard deviation of 35,000 cars.

1. If the company set a goal of selling more than 100,000 cars per year, calculate the z score.

Answer: Click or tap here to enter text.

2. If the company set a goal of selling more than 100,000 cars per year, calculate the probability the company will not reach the goal.

Answer: Click or tap here to enter text.

3. If the company set a goal of selling more than 100,000 cars per year, calculate the probability the company will reach the goal.

Answer: Click or tap here to enter text.

4. Find the number of cars sales that the company has only a 10% chance of achieving next year.

Answer: Click or tap here to enter text.

A sovereign borrower is considering a $100 million loan for a 44​-year maturity. It will be an amortizing​ loan, meaning that the interest and principal payments will​ total, annually, to a constant amount over the maturity of the loan. There​ is, however, a debate over the appropriate interest rate. The borrower believes the appropriate rate for its current credit standing in the market today is 9​%, but a number of international banks with which it is negotiating are arguing that is most likely 14​%, at the minimum 9​%. What impact do these different interest rates have on the prospective annual​ payments?

It is the year 2021 and Pork Barrels, Inc., is considering construction of a new barrel plant in Spain. The forecasted cash flows in millions of euros are as follows:

The spot exchange rate is $1.27 = €1. The interest rate in the United States is 11%, and the euro interest rate is 8%. You can assume that pork barrel production is effectively risk-free.

1. b. What are the dollar cash flows from the project if the company hedges against exchange rate changes?

What are the dollar cash flows from the project if the company hedges against exchange rate changes? (Negative amounts should be indicated by minus sign. Enter your answers in millions. Do not round intermediate calculations. Round "Forward rate" to 3 decimal places and "Cash flow" to 2 decimal places.)

A company introduced a new product last year for which it is trying to find an optimal selling price. Marketing studies suggest that the company can increase sales by 5,000 units for each $2 reduction in the selling price. The company’s present selling price is $93 per unit, and variable expenses are $63 per unit. Fixed expenses are $838,500 per year. The present annual sales volume (at the $93 selling price) is 25,700 units.

1. What is the present yearly net operating income or loss? _____________

2. What is the present break-even point in unit sales and in dollar sales? (Do not round intermediate calculations).
Break even point in units: ___________
Break even point in dollar sales: ___________

3. Assuming that the marketing studies are correct, what is the maximum annual profit that the company can earn? At how many units and at what selling price per unit would the company generate this profit?
Maximum Profit: __________
Number of Units: __________
Selling Price: __________

4. What would be the break-even point in unit sales and in dollar sales using the selling price you determined in (3) above (e.g., the selling price at the level of maximum profits)? (Do not round intermediate calculations).
Break even point in units: ___________
Break even point in dollar sales: ___________

The balance sheet for Garcon Inc. at the end of the current fiscal year indicated the following:

Income before income tax was $365,400, and income taxes were $54,000, for the current year. Cash dividends paid on common stock during the current year totaled $79,407. The common stock was selling for $18 per share at the end of the year.

Determine each of the following. Round answers to one decimal place, except for dollar amounts which should be rounded to the nearest whole cent. Use the rounded answers for subsequent requirements, if required.

You are the field manager on the audit of Hotshot Ltd for the year ended 30 September 2015. You have asked Michelle Psi, a new audit analyst to assist you and you are busy ensuring that she has a proper understanding of the work to be done before she starts. Consider the following procedures, which are included in the audit programmes:

1. Vouch a sample of sales transactions recorded in the sales journal to ensure that they have been appropriately authorised in terms of credit terms and policies.

2. Inspect minutes and contracts for evidence of any assignment, pledges, factoring or other liens over debtors.

3. Enquire of client personnel whether sales invoices are independently checked to ensure that Price x Quantity calculations are correct.

4. Select a sample of sales invoices and trace these to the sales journal.

5. Use Generalised Audit Software to scan the client’s computerised accounting records for 2015 for any transactions which have a date of 1 October 2015 or later.

6. Check the results of the Integrated Test Facility (ITF) report to identify whether unauthorised journal entries writing off debtors were processed or were rejected by the client’s computerised accounting system.

Required: For each of the procedures above:

a) Identify whether it is a Test of control OR Substantive test.

b) Identify one assertion (for each procedure) that will be tested.

c) Identify a potential misstatement that could occur (i.e. if the procedure yielded unsatisfactory evidence, explain how the accounts concerned could be misstated)

Please do not copy & paste others' wrong answer. Thanks