Questions
Prepare necessary adjusting entries to correct the errors on all issues (ii) to (v) in the...

Prepare necessary adjusting entries to correct the errors on all issues (ii) to (v) in the financial statements of GHL for the year ended 31 March 2020 in accordance with relevant HKFRSs.  

(ii) At 1 April 2019 there was a deferred tax liability of $6.6 million in the statement of financial position and no adjustments have been made to this figure at 31 March 2020. This deferred tax liability was solely in relation to the differences between the carrying amount ($90 million) and the tax based ($57 million) of plant and equipment. At 31 March 2020 these figures were $96 million and $54 million respectively for the carrying amount and tax base of plant and equipment. The applicable income tax is 20%. GHL accounts for plant and equipment using cost model under HKAS 16 ‘Property, Plant and Equipment’.

The first tax loss carried forward in respect of the year ended 31 March 2020 is $24 million. GHL has reliable budgets for a total taxable profit of $12 million for the next two financial years. Tax losses can be carried forward indefinitely under the tax law. Fanny used the full amount of tax loss to determine the deferred tax amount and has been reflected in the draft financial statements.

(iii) On 31 March 2020 GHL issued $15 million 5% convertible bonds at par. Interests on the bonds are payable annually in arrears with first payment on 31 March 2021. Issue costs payable to professional advisers were $600,000. The bond can, at the choice of the holders, be redeemed at par on 31 March 2023; or converted on 31 March 2023 into ordinary shares in GHL at the rate of three ordinary shares for every $10 bond held.

In the draft financial statements, the proceeds from the bond issue have been recognized as bonds payable. The issue costs have been classified as an administrative expense. Cash received and paid has been recognized. No other entries have been made. The prevailing market interest rate for similar bonds for equivalent risk, but without conversion rights, is 8% per annum.

(iv) On 1 April 2019, GHL entered into a sale and leaseback agreement for its manufacturing plant. The plant was originally acquired by GHL on 31 March 2009 for $8,910,000, at which point the plant had a useful life of 30 years with no residual value. The sale proceeds of plant from the sale and leaseback agreement were $11.25 million, which is higher than the fair value of the plant of $9.0 million. The plant was leased back on a 20-year lease from 1 April 2019 at an annual rental of $1,105,350 to be paid annually in arrears at 31 March 2020. The sale satisfies HKFRS 15 "Revenue from Contracts with Customers", however, she insisted to account for it as a financing arrangement. The first lease rental is paid and charged to the statement of profit or loss. The sales proceed was treated as a financial liability. The incremental borrowing rate is 15% per annum.  

(v) GHL purchased a factory site in Malaysia on 1 April 2019 with intention for industrial use. Land prices in the area had increased significantly in the years immediately prior to 31 March 2020. Nearby sites had been acquired and converted into residential use. It is felt that, should the GHL's site also be converted into residential use, the factory site would have a market value of $27 million. $1.5 million of costs are estimated to be required to demolish the factory and to obtain planning permission for the conversion. GHL was not intending to convert the site at 1 April 2019 and had not sought planning permission at that date. The current replacement cost and carrying amount of the factory site are correctly calculated as $25.1 million and $28 million respectively as at 31 March 2020 before revaluation. Fanny did not reflect the change in fair value of the factory site even the factory site is measured using the revaluation model under HKAS 16.

In: Accounting

From a sample of 36 graduate​ students, the mean number of months of work experience prior...

From a sample of 36 graduate​ students, the mean number of months of work experience prior to entering an MBA program was 36.95. The national standard deviation is known to be 19 months. What is a 95​% confidence interval for the population​ mean? A 95​% confidence interval for the population mean is left bracket nothing comma nothing right bracket . ​(Use ascending order. Round to two decimal places as​ needed.)

In: Statistics and Probability

1. Compute the Mean and Median. Explain the meaning of these statistics. Which measure is  more appropriate...

1. Compute the Mean and Median. Explain the meaning of these statistics. Which measure is  more appropriate for this sample? Explain why

The starting annual salaries of a sample of 20 recent MBA graduates are recorded. The data is presented below.

285

283

285

277

290

265

285

291

279

291

281

282

266

699

279

283

287

291

291

968

In: Statistics and Probability

Country Burkina Faso Ethiopia Myanmar Ghana Kenya India Nicaragua Tunisia Guatemala Algeria Ecuador Peru Colombia Lebanon...

Country
Burkina Faso
Ethiopia
Myanmar
Ghana
Kenya
India
Nicaragua
Tunisia
Guatemala
Algeria
Ecuador
Peru
Colombia
Lebanon
China
Brazil
Mexico
Turkey
Argentina
Venezuela, RB
Greece
Portugal
Malta
Spain
Italy
Israel
Japan
France
New Zealand
United Arab Emirates
Belgium
United Kingdom
Canada
Germany
Finland
Austria
Netherlands
Ireland
Australia
Sweden
United States
Denmark
Iceland
Luxembourg
Switzerland
Norway
Average Income
640
660
1190
1380
1380
1680
2050
3690
3790
4270
5820
5950
6320
7680
8260
8840
9040
11180
11960
12500
18960
19850
24140
27520
31590
36190
38000
38950
39070
40480
41860
42390
43660
43660
44730
45230
46310
52560
54420
54630
56180
56730
56990
76660
81240
82330

In 2016, the global average annual income worldwide was estimated to be $10,850[1]. (This includes all countries of the world, not just the countries in the data table.)

[1] Source: Organization for Economic Co-operation and Development (OECD).

A) construct an 80%, 90%, 95%, 98%, 99% confidence interval to estimate the proportion of countries in the world with an average income greater than the global average. Calculate the Margin of Error for each confidence interval.

B) As the confidence level increases, what happens to the width of the interval? (Note: the width of the interval is the difference between the upper and lower limits.)

C) As the confidence level increases, what happens to the margin of error?

In: Statistics and Probability

Question 1: Below is a dataset for a sample of 33 countries with indicators of Obesity...

Question 1: Below is a dataset for a sample of 33 countries with indicators of Obesity Prevalence and GDP Per Capita for each country. How much variance in Obesity Prevalence is explained by GDP Per Capita? (Question pertains to Coefficient of Determination)

Country

Obesity prevalence (% of adults are obese)

GDP per capita (international-$)

Qatar

33.90

118,207

Luxembourg

24.20

94,921

Singapore

6.60

82,622

Brunei

14.70

71,789

Kuwait

37.00

68,862

United Arab Emirates

29.90

67,706

Norway

25.00

64,160

Ireland

26.90

63,227

Switzerland

21.20

57,422

United States

37.30

53,399

Saudi Arabia

35.00

50,423

Netherlands

23.10

47,270

Sweden

22.10

46,568

Denmark

21.30

45,991

Iceland

23.10

45,631

Australia

30.40

44,493

Austria

21.90

44,464

Germany

25.70

44,432

Bahrain

28.70

43,643

Canada

31.30

43,238

Belgium

24.50

42,084

Oman

22.90

39,884

Finland

24.90

39,659

United Kingdom

29.50

39,309

South Korea

4.90

35,020

Italy

22.90

34,655

Spain

27.10

33,320

Israel

26.70

32,688

Czech Republic

28.50

31,339

Cyprus

22.60

31,331

Slovenia

22.50

29,930

Trinidad and Tobago

19.70

29,541

Slovakia

22.40

29,212

Question 2. Below is a crosstab table for the number of smokers among males and females in a sample of 100 people. Is there a statistically significant association between Gender and Smoking? (Use Chi-Square).

Male

Female

Total

Smoking

22

18

40

Not smoking

26

34

60

Totals

48

52

100

In: Statistics and Probability

You have just been hired by the U.S. government to analyze the following scenario.


You have just been hired by the U.S. government to analyze the following scenario. Suppose the U.S. manufacturing industry is concerned about competition from overseas low-cost producers exporting their goods to the United States, a practice that hurts domestic producers. Lobbyists claim that implementing a tariff on imports would shrink the size of the trade deficit. The following exercise will help you to analyze this claim.


The following graph shows the demand and supply of U.S. dollars in a model of the foreign-currency exchange market.


Shift the demand curve, the supply curve, or both to show what would happen if the government decided to implement the tariff. 

image.png

 Given this change, the dollar _______ .

 Fill in the following table with the effect of a tariff on the following items:

image.png


In: Economics

In a price-taker market, each firm's short run supply curve is its marginal cost curve, above its minimum average total cost.


7) T/F In a price-taker market, each firm's short run supply curve is its marginal cost curve, above its minimum average total cost.

8) T/F The limited liability of stockholders in the corporate business structure makes it harder to raise equity capital.

9) T/F In the year 2008, nearly three out of four business firms in the United States were organized as proprietorships.

10) T/F When demand is relatively price inelastic, price and total revenue will change in the same direction.

11) T/F As business firms exit a perfectly competitive market, this will typically decrease the profits of those firm who remain in the market.

In: Economics

Rick Rocker, a nonresident alien, is interested in performing a rock concert in Chicago. A promoter...

Rick Rocker, a nonresident alien, is interested in performing a rock concert in Chicago. A promoter in the United States ("Promoter") has agreed to pay $1 million to Rocker to perform. Rocker himself incurs $400,000 in expenses in connection with the concert. Which of the following statements is true?

Question 18 options:

1)

Promoter must withhold $300,000 on the fixed, determinable, annual, or periodic income paid to Rocker.

2)

Promoter must withhold $180,000 on the effectively connected net income paid to Rocker.

3)

Promoter does not have any withholding obligation on the income paid to Rocker.

4)

Promoter must submit Form 8233, Exemption from Withholding on Compensation for Independent Personal Services of a Nonresident Alien Individual.

In: Accounting

by utilizing this chi-Square Test answer the following question and explain what the table means. Are...

by utilizing this chi-Square Test answer the following question and explain what the table means.

Are Americans in favor of the use of unmanned drones by police agencies in the United States?

Table 4

Chi-Square Test for Association: Gender, Opinion

Gender

-1

0

1

Total

39

17

44

100

Male

39.2

25.13

35.68

0.0010

2.6278

1.9409

39

33

27

99

Female

38.8

24.87

35.32

0.0010

2.6544

1.9605

Total

78

50

71

199

Note. Possible responses (-1, 0, and 1). -1 = Oppose, 0 = Not Sure, +1 = Favor. Columns represent observed, expected, and contribution to Chi-Square. p < 0.010.

In: Statistics and Probability

thoroughly discuss the pros and cons of the plea bargain as used in the American court...

thoroughly discuss the pros and cons of the plea bargain as used in the American court system, and to describe why the plea bargain is used so often, the mechanics of how a plea bargain comes about, and what some of the positive and negative outcomes of using it are.

For reference material, use at least your text and two or more of the following sources, and remember to identify passages in your essay where you are quoting, paraphrasing, or summarizing as well as the source you are using:

Justice Department of United States Government can you answer please be 500 words or more thank you

Department of Homeland Security

National Institute of Justice

National Criminal Justice Reference Services

Federal Bureau of Investigation (FBI)

In: Accounting