During 2020, the following items caused taxable income to be different than accounting income:

• For tax purposes, CCA was $172,800 in 2020. The year-end book value is $720,000 and the tax value is $691,200.
• In 2020 Killim Inc. paid $72,000 rent in advance for 2020 ($36,000) and 2021 ($36,000). The Canada Revenue Agency (CRA) allows the deduction of actual rent payments when they are paid. By December 31, 2020, Killim had a balance of $36,000 in Prepaid Rent.
• In 2020, dividends of $24,000 were received from a taxable Canadian corporation and included in accounting income. These dividends are not taxable.
• In 2020, a golf club membership of $7,200 was an expense in arriving at accounting income. This is not an allowable deduction for tax purposes.
• In 2020, Killim Inc. offered a warranty on goods sold. Warranty expenses for 2020 were $26,400 and warranty cash payments in 2020 were $9,600. The balance of the warranty liability on the statement of financial position is $16,800. The Canada Revenue Agency (CRA) allows the deduction of actual warranty costs when they are paid.

Required:

( a ) Calculate taxable income for 2020.

( b ) Calculate current income taxes payable for 2020.

( c ) Calculate the balance of any deferred income taxes asset and deferred income tax liability at December 31, 2020. Do this for each item and identify any balances as either a deferred tax asset or a deferred tax liability.

            (d ) Prepare the journal entry(s) to record current income taxes for 2020 and record an entry for of the deferred tax determined in part c.

During 2020, the following items caused taxable income to be different than accounting income:

• For tax purposes, CCA was $172,800 in 2020. The year-end book value is $720,000 and the tax value is $691,200.
• In 2020 Killim Inc. paid $72,000 rent in advance for 2020 ($36,000) and 2021 ($36,000). The Canada Revenue Agency (CRA) allows the deduction of actual rent payments when they are paid. By December 31, 2020, Killim had a balance of $36,000 in Prepaid Rent.
• In 2020, dividends of $24,000 were received from a taxable Canadian corporation and included in accounting income. These dividends are not taxable.
• In 2020, a golf club membership of $7,200 was an expense in arriving at accounting income. This is not an allowable deduction for tax purposes.
• In 2020, Killim Inc. offered a warranty on goods sold. Warranty expenses for 2020 were $26,400 and warranty cash payments in 2020 were $9,600. The balance of the warranty liability on the statement of financial position is $16,800. The Canada Revenue Agency (CRA) allows the deduction of actual warranty costs when they are paid.

Required:

( a ) Calculate taxable income for 2020.

( b ) Calculate current income taxes payable for 2020.

( c ) Calculate the balance of any deferred income taxes asset and deferred income tax liability at December 31, 2020. Do this for each item and identify any balances as either a deferred tax asset or a deferred tax liability.

            (d ) Prepare the journal entry(s) to record current income taxes for 2020 and record an entry for of the deferred tax determined in part c.

Consider a good that the U.S. imports, such as shoes.

a) Suppose there is a fall in the world price of shoes. Show the effects of this development both in a PPC/CPC diagram (with shoes on the horizontal axis and everything else on the vertical axis) and in a supply and demand diagram with international trade. How will the fall in the world price affect U.S. shoe production, U.S. shoe consumption, and U.S. shoe imports?

b)How will the fall in the world price of shoes affect consumer surplus, producer surplus, and total economic surplus in the U.S.?

1. For the purpose of these questions, assume the United States as a standard flexible exchange rate regime with free flows of capital:
   • All else equal, if the Federal Reserve increases the money supply and lowers interest rates, what will happen to the U.S. trade balance? Explain.
   • All else equal, if Japanese citizens decide to divest their U.S. stock market holdings, what will happen to the U.S. trade balance? Explain.
   • All else equal, if income in the U.S. increases, what will happen to the U.S. trade balance? Explain.

Introduction

Decision making in finance is rarely black and white and one decision can be appropriate for one situation and not appropriate for another. Point and counter-point discussions should highlight this as well as expand upon the ability to support a decision that may not be supported by others in the same department.

Initial Post Instructions

Consider the following point and counter-point arguments then use the Internet to learn more about the issue. Which argument to you support? Explain why and offer your own opinion on the issue.

• Point: Country risk does not matter for U.S. projects. U.S.-based MNCs should consider country risk for foreign projects only. A U.S.-based MNC can account for U.S. economic conditions when estimating cash flows of a U.S. project or deriving the required rate of return on a project, but it does not need to consider country risk.
• Counter-Point: Country risk does matter for U.S. projects. Country risk should be considered for U.S. projects. Country risk can indirectly affect the cash flows of a U.S. project. Consider a U.S. project in which supplies are produced and sent to a U.S. exporter. The demand for the supplies will be dependent on the demand for the exports over time, and the demand for exports over time may be dependent on country risk.

Heineken

Evaluate Heineken’s corporate-level and international strategy using concepts and tools from the course. How has the entries into new product and geographical markets created value for the company? What are some problems with its diversified global operations and how can these be addressed?

Must use Case from the 10th edition for 2020

The Business of Video Games Recently, the Global Games Market Report was released to explore the market trends shaping and driving the landscape of the game, and further zoom in on the latest developments per segment and region for the upcoming year and beyond. The report indicates that the way consumers engage with and through games is constantly changing that leads to entirely new segments of game enthusiasts. There are now more than 2.5 billion gamers across the world. Combined, they would spend $152.1 billion on games in 2019, representing an increase of +9.6% year on year. According to the newest report, the U.S. has overtaken China as the world’s largest gaming market by revenues. Overall, the U.S. games market would generate $36.9 billion in 2019, predominantly driven by its +13.9% growth in console game revenues. Among top 10 video game publishers by game revenues, major US companies are Sony, Apple, Microsoft, Nintendo, Google, Activision Publishing (AP), and Electronic Arts (EA). Video games are played on various platforms of smartphone, console, boxed, tablet and browser. Console will be the fastest-growing segment this year, growing +13.4% year on year to $47.9 billion in 2019. If we break that prediction down by platform, the largest segment, 36%, will be generated by smartphone games, while the smallest segment of the market, 2%, will go to Browser PC Games. The prediction is that browser-based games will continue to lose market share over the next few years. The total market share has console games accounting for 32% of the revenue and will actually grow faster than smartphone games in the coming years. Regardless of this increased growth console games will not overtake smartphone games any time soon. So, what does this all mean for the future of gaming publishers in the US market? Smartphone game development will continue to be explosive. With this much potential behind it, every game developer will be looking for an investment in the next big game. Also, you can probably look forward to critical improvements of gaming platforms that can blow your minds in the next year or two. In addition, you can expect a new generation of gamers from millennials to Z fairly soon and that might be for a big change. As the CEO of a gaming publisher, you are supposed to perform a five forces analysis of the online video game industry. Use search engine or other information sources to answer the following questions.

2. Explain the competition among your major rivalry, bargaining power of buyers, bargaining power of suppliers, threat of new entrants, and threat of substitutes. Hint: you can use SWOT to get insight of these forces if necessary.

4. How has your company used information systems to compete more effectively and/or efficiently? Hint: break down the information systems into its four components and then explain how the company utilize the four components. Alternatively, apply the value chain to explain how information systems help primary and support activities to add values.

Question 1:
J. Zheng, a former professional tennis star, operates Zheng’s Tennis Shop, Ltd. at the Yalong River Resort. At the beginning of the current season, the ledger of Zheng’s Tennis Shop showed Cash ¥2,200, Inventory ¥1,800, and Share Capital—Ordinary ¥4,000. The following transactions were completed during April.
April.
4. Purchased racquets and balls from Jay-Mac Co. ¥8760, FOB shipping point, terms 2/10, n/30.
6. Paid freight on purchase from Jay-Mac Co. ¥240.
7. Purchased Supplies from Jay-Mac Co for cash ¥3,800.
8. Sold merchandise to members ¥2,150, terms n/30. The merchandise sold had a cost of ¥1790.
10. Received credit of ¥800 from Jay-Mac Co. for a racquet that was returned.
11. Purchased tennis shoes from Li Sports for cash, ¥5420.
13. Paid Jay-Mac Co. in full.
14. Purchased tennis shirts and shorts from Everett Sportswear ¥2800, FOB shipping point, terms 3/10, n/60.
15. Received cash refund of ¥550 from Li Sports for damaged merchandise that was returned.
17. Paid freight on Everett Sportswear purchase ¥240.
18. Sold merchandise to members ¥4980, terms n/30. The cost of the merchandise sold was ¥2520.
20. Received ¥3600 in cash from members in settlement of their accounts.
21. Paid Everett Sportswear in full.
23. Paid salary to employees for the month ¥2240.
27. Granted an allowance of ¥240 to members for tennis clothing that did not fit properly.
30. Received cash payments on account from members, ¥2820.
The chart of accounts for the tennis shop includes the following: No. 101 Cash, No. 112 Accounts Receivable, No. 120 Inventory, No. 201 Accounts Payable, No. 311 Share Capital—Ordinary, No. 401 Sales Revenue, No. 412 Sales Returns and Allowances, and No. 505 Cost of Goods Sold.
REQUIRED
Journalize the April transactions using a perpetual inventory system.

On June 24, 1948, the former Soviet Union blocked all land and water routes through East Germany to Berlin. A gigantic airlift was organized using American and British planes to bring food, clothing, and other supplies to the more than 2 million people in West Berlin. The Americans had two types of planes available, the C-47 Skytrain and the C-54 Skymaster. The carrying capacity was 3.5 tons for a C-47 and 10 tons for a C-54. To break the Soviet blockade, the Western Allies had to maximize carrying capacity, but the Americans were limited by the following restrictions:

- No more than 44 planes could be used per day

- Each C-47 required 4 crew members per flight and the crew requirement for the C-54 was 5. The total number of personnel available per day could not exceed 200.

- The American's only had 32 C-54's Available.

1. A former smoker wants to calculate how much money he could have saved if he had saved the $8 per pack per day in a bank account instead. He assumes that he could have deposited $240 per month in an account earning 10% interest for the 17 years he smoked.

   1. Assuming that he starts with a balance of $0 and makes the deposit at the end of every month, how much money could he have saved at the end of 17 years?

      1. How much total did he deposit?

      2. How much total interest did he earn?

   2. Starting with the account balance at the end of the 17 years in a. how much money could he have if he left the money (with no more deposits) in the account for another 30 years until he turned 65?

      1. How much total interest has he earned on his deposits?

   3. Starting with the balance at the end of the 30 years in b. how much can he then start withdrawing per month so that he’s withdrawn it all at the end of 20 years.

      1. How much total has he withdrawn?

      2. How much total did he earn on his deposit?

Kristi Yamaguchi a former figure skater who is the 1992 Olympic Champian, a two-time World Champian and 1992 US Champion. In her 1992 Long Program, she made a sharp turn with a radius of 22.6 m and with a speed of 16.1 m/s. Use Newton's second law to determine the acceleration and the angle of lean of Kristi 55.0-kg body.

Please explain and show work if possible.