Question 6

Undocumented workers:

are not subject to the protections of federal anti-discrimination laws.

have no legal employment rights per case law.

may be granted citizenship if an employer discriminated against them.

treated the same as other employees and able to pursue their legal claims.

Question 7

The subminimum wage provision:

guarantees all employees must be paid the current federal minimum wage.

allows certain workers with disabilities (with DOL certification) and students employed at colleges and universities (payment at 85 percent of the minimum wage is allowed with DOL certification) to be paid less than current federal minimum wage.

requires employers to pay time and a half to all employees who work more than 40 hours in a work week.

protects employees for predatory employers who seek to pay less then minimum wage in poverty-stricken areas of the country.

  Question 8

Employees who are paid a salary:

are never paid an overtime pay rate because they are considered management.

are required to earn overtime if they work more than 50 hours in a week.

may be paid overtime based on the results of the “salary level test”.

must be paid every two weeks and earn extra paid time off related to the number of hours over 40 they work each week.

Question 9

Employers offering unpaid internships should:

give interns a W-4 so they can deduct the time spent working on their federal taxes.

have a college oversee it and offer academic credit.

change to paid internships only to avoid FLSA violations.

only hire students age 16 – 18, while they are in high school

1.As the use of gold as currency became more standardized, what happened to the gold trade?

a.)The dollar's convertibility was suspended.

b.)Banks printed paper money to represent a specific amount of gold in the vault.

c.)Americans lost faith in their currency and hoarded gold.

d.)Gold held little practical value other than as jewelry.

2.What is the central issue that causes bank runs and panics?

a.)Banks withhold deposits from creditors

b.)Banks fail to pay interest to their depositors

c.)Banks print more money than they have gold in their vaults

d.)Banks do not loan out enough funds to stimulate the economy

3.Before a Central Bank was established in the United States, people known as __________ were able to buy and sell the monies from individual states.

a.)federal funds traders

b.)currency traders

c.)the Board of Governors

d.)equity salesmen

4. Which of the following statements regarding central banks is true?

a.)Central banks require greater reliance on the gold standard.

b.)Central banks undermine international trade.

c.)A central bank controls the state and local bank locations and number of branches.

d.)A central bank has the sole authority with respect to the money supply.

5.Which statement below is true about the discount rate?

a.)It is the interest rate that the federal government pays to the public via the sale of Treasury securities.

b.)This is the rate used when banks borrow directly from the Fed.

c.)It is the same as the fed funds rate.

d.)It is the rate that banks charge other banks to loan money overnight.

Your friend, Jane Lee, recently won the Lotto Max and is planning to sell her business and move to England. Jane owns the Vancouver Running Centre Inc. (Centre) that offers training and running clinics. She has provided you with the trial balance for the year ended October 31, 2018 (the company’s year-end).

Vancouver Running Centre Inc.

Unadjusted Trial Balance

October 31, 2020

Required:

She has asked you to review the trial balance and the additional information and prepare any adjusting journal entries you believe are necessary to ensure the accounts are complete and accurate in accordance with Generally Accepted Accounting Principles. Place your responses together with supporting calculations in the table provided. Explanations are not required.

1) The computer equipment is in excellent shape. It was purchased on July 1, 2019 and is expected to have a useful life of 4 years at which time it is expected to be sold for $4,000.

2) On February 1, 2020, Centre received and recorded in Revenue Earned a $20,000 cash advance from the Richmond School Board. The payment covers marathon training for the eight-month period starting July 1, 2020.

3) Each of Centre’s employees is paid $1,500 every two weeks – i.e.10 days of work. The six employees did not receive a pay cheque for the last seven working days of October 2020, as the bookkeeper was ill. The amounts were both recorded and paid upon her return on November 4, 2020.

4. Centre’s sales invoices for the last two weeks of October 2020 have not been prepared nor recorded. You estimate that $14,500 of services rendered during that period has not been recorded or billed to customers.

5. An inventory count completed at October 31, 2020 revealed inventory of $44,700.

6) On January 1, 2020 Centre purchased a two-year liability insurance policy for $4,800.

7) A letter from Centre’s landlord dated October 25, 2020 demands a total of $18,000 to be paid to cover the rent for the months of September to November 2020 inclusive. Centre’s monthly rent expense has been constant for the past three years.

8) Supplies on hand at October 31, 2020 are estimated at $3,500.

Filer Manufacturing has 7 million shares of common stock outstanding. The current share price is $73, and the book value per share is $8. Filer Manufacturing also has two bond issues outstanding. The first bond issue has a face value of $75 million, has a 8 percent coupon, and sells for 98 percent of par. The second issue has a face value of $55 million, has a 9 percent coupon, and sells for 107 percent of par. The first issue matures in 23 years, the second in 7 years.

The most recent dividend was $4.5 and the dividend growth rate is 8 percent. Assume that the overall cost of debt is the weighted average of that implied by the two outstanding debt issues. Both bonds make semiannual payments. The tax rate is 30 percent.

Required: What is the company's WACC? (Do not round your intermediate calculations.)

A 12.79%

B 8.19%

C 7.69%

D 15.88%

E 7.94%

Please show work

LaChut Corporation has found that 80​% of its sales in any given month are credit​ sales, while the remainder are cash sales. Of the credit​ sales, LaChut Corporation has experienced the following collection​ pattern:

November sales for last year were $80,000​, while December sales were $110,000. Projected sales for the next three months are as​ follows:

Requirement

Prepare a cash collections budget for the first​ quarter, with a column for each month and for the quarter. ​(Round your answers to the nearest whole​ dollar.)

Which of the following statements is incorrect?

1. The electric potential at a point due to two unlike charges can be positive.

2. The potential energy of a system consisting of two charges is always positive.

3. The potential energy increases when two like charges move closer.

4. The potential energy decreases when two unlike charges move closer.

5. The electric potential of every point on an equipotential line is always the same.

6. The equipotential lines are always perpendicular to the electric field lines.

7. The electric field lines point from high potential to low potential.

8. The force on a negative charge in an electric field is opposite to the electric field.

College playboy “Studley” Moore likes to throw lavish parties in his spacious Davis apartment. He has one quirk though. He insists that every guest, on their way in, play a game of “odd or even” with him. Each of the two sticks out one or two fingers, and Studley wins if the sum is even. Studley pays the guest $5 when the sum is odd (i.e., there are oneor three fingers showing), but he collects $6 when the sum is two and $4 when the sum is four. Suppose that Studley uses the strategy of sticking out one finger with probability 7/12 and two fingers with probability 5/12. Assume that each guest chooses one or two fingers with equal probability. Find the probability distribution for Studley's winnings W in a game of odd or even, and compute Studley's expected winnings in this game. Would always sticking out one finger be a better strategy for Studley (up until he gets found out)?

Using the data set (link below), please calculate a one-way chi-square tests for President Bush approval rating for the first years in office. Specifically run chi-square on the "Approving" column.

This is the information provided.

At the beginning of Year One, a company issues 40,000 shares of $2 par value common stock for $23 per share in cash. The company also issues 10,000 shares of $40 par value preferred stock that pays an annual dividend of 10 percent. No dividend is paid in Year One but a total dividend of $100,000 is distributed in Year Two.

a. If the preferred stock dividend is not cumulative, what is reported on the financial statements

about the dividend at the end of Year One?

b. If the preferred stock dividend is not cumulative, what amount of cash dividend does each share

of common stock receive in Year Two?

c. If the preferred stock dividend is cumulative, what is reported on the financial statements about

the dividend at the end of Year One?

d. If the preferred stock dividend is cumulative, what amount of cash dividend does each share of

common stock receive in Year Two?