As a long-term investment, Painters' Equipment Company purchased 20% of AMC Supplies Inc.'s 590,000 shares for $670,000 at the beginning of the fiscal year of both companies. On the purchase date, the fair value and book value of AMC’s net assets were equal. During the year, AMC earned net income of $350,000 and distributed cash dividends of 20 cents per share. At year-end, the fair value of the shares is $714,000.

1. Assume no significant influence was acquired. Prepare the appropriate journal entries from the purchase through the end of the year. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)

2. Assume significant influence was acquired. Prepare the appropriate journal entries from the purchase through the end of the year. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)

Basic NPV methods tell us that the value of a project today is NPV₀. Time value of money issues also lead us to believe that if we choose not to do the project that it will be worth NPV₁ one period from now, such that NPV₀ > NPV₁. Why then do we see some firms choosing to defer taking on a project. Be complete and thorough in your answer.

Comment on shelter-in-place and stay home and restriction of travel, (e.g. as is the case in some states in USA) to help reduce the chance of spreading diseases like Covid-19. Should the government and/or the medical profession protect us from emerging diseases or should each of us have to take responsibility for modifying our own behavior to help prevent their spread?

What is it that draws us as humans to music? How can listening to music impact our emotions, thoughts, or behaviors? What examples do you have from your own life of music impacting you in some way? What explanation can there be for how different music, which has different sounds, has different effects on us?

• Use the Internet to research a publicly traded company that received an unqualified audit report from external auditors and faced accusations of reporting false or misleading accounting information.
• Discuss the departures from generally accepted accounting principles (GAAP) that you have researched, and give your opinion as to whether or not the Public Company Accounting Oversight Board (PCAOB) should levy sanctions against the CPA firm for issuing the unqualified report.
• Identify the sanctions and section of the report the company should have modified to address departures from GAAP. Support your position.
• Compare the code of professional conduct for CPAs to the code of professional conduct for accountants who are non-CPAs.
• Determine the major ethical issues created by the mergers of public accounting firms with non-CPA firms that perform accounting services. Explain your rationale.

V. Nimania plc builds water treatment facilities throughout the world. One contract it has concerns an installation in an area
prone to outbreaks of a dangerous disease. The company has to decide whether or not to vaccinate the employees who will be working there. Vaccination will cost £200,000, which will be deducted from the profit it makes from the venture. The company expects a profit of £1.2m from the contract but if there is an outbreak of the disease and the workforce has not been vaccinated, delays will result in the profit being reduced to £0.5m. If the workforce has been vaccinated and there is an outbreak of the disease, the work will progress as planned but disruption to infrastructure will result in their profit being reduced by £0.2m. Advise the company using:

(a) the maximax decision rule

(b) the maximin decision rule

(c) the minimax regret decision rule

(d) the equal likelihood decision rule

One Question = Please analyze this case, using International Trade methodology (not a short answer please) The Schwinn Bicycle Company illustrates the notion of globalization and how producers react to foreign competitive pressure. Founded in Chicago in 1895, Schwinn grew to produce bicycles that became the standard of the industry. Although the Great Depression drove most bicycle companies out of business, Schwinn survived by producing durable and stylish bikes sold by dealerships that were run by people who understood bicycles and were anxious to promote the brand. Schwinn emphasized continuous innovation that resulted in features such as built-in kickstands, balloon tires, chrome fenders, head and tail lights, and more. By the 1960s, the Schwinn Sting Ray became the bicycle that virtually every child wanted. Celebrities such as Captain Kangaroo and Ronald Reagan pitched ads claiming that “Schwinn bikes are the best.” Although Schwinn dominated the U.S. bicycle industry; the nature of the bicycle market was changing. Cyclists wanted features other than heavy, durable bicycles that had been the mainstay of Schwinn for decades. Competitors emerged, such as Trek, which built mountain bikes, and Mongoose, which produced bikes for BMX racing. Falling tariffs on imported bicycles encouraged Americans to import from companies in Japan, South Korea, Taiwan, and eventually China. These companies supplied Americans with everything ranging from parts to entire bicycles under U.S. brand names, or their own brands. Using production techniques initially developed by Schwinn, foreign companies hired low-wage workers to manufacture competitive bicycles at a fraction of Schwinn’s cost. As foreign competition intensified, Schwinn moved production to a plant in Greenville, Mississippi in 1981. The location was strategic. Like other U.S. manufacturers, Schwinn relocated production to the South in order to hire nonunion workers at lower wages. Schwinn also obtained parts produced by low-wage workers in foreign countries. The Greenville plant suffered from uneven quality and low efficiency, and it produced bicycles no better than the ones imported from Asia. As losses mounted for Schwinn, the firm declared bankruptcy in 1993. Eventually Schwinn was purchased by the Pacific Cycle Company that farmed the production of Schwinn bicycles out to low-wage workers in China. Most Schwinn bicycles today are built in Chinese factories and are sold by Walmart and other discount merchants. Cyclists do pay less for a new Schwinn under Pacific’s ownership. It may not be the industry standard that was the old Schwinn, but it sells at Walmart for approximately $180, about a third of the original price in today’s dollars. Although cyclists may lament that a Schwinn is no longer the bike it used to be, Pacific Cycle officials note that it is not as expensive as in the past either. One Question = Please analyze this case, using International Trade methodology (not a short answer please)

Please answer the following case study questions:

Time Theft

Case:

You are the supervisor of several employees. Each employee has their own individual way of “slacking” at work. If you have an employee, who you pay, who is doing something other than working, technically they are being paid to do something that they are not doing. This is typically called, time theft. Examples include taking long breaks, talking to peers, taking too long of a lunch, looking at social media (facebook, twitter, etc...) during work time, and many other ways to avoid work. You now have employees who you know are not working their full 8 hours, they are doing other things (non-productive) during work hour.

Question:

1) Why is time theft a problem?

2) How much time theft is allowable (if any)?

3) What are some reasons time theft would be allowable?

4) How would you handle this situation?