Questions
Analyze the poor decision-making strategies exhibited by the management team at Toys R Us for the...

Analyze the poor decision-making strategies exhibited by the management team at Toys R Us for the past 10 years? What do you believe was the BIGGEST managerial decision-making failure the company made?

In: Accounting

Let us consider the company 'MTN Namibia' for our study. Identify all “information” assets that form...

Let us consider the company 'MTN Namibia' for our study.

Identify all “information” assets that form part of the organisation. Perform asset valuation to determine asset value or worth of each asset identified.

In: Economics

if i was given by the company Cisco's website, their products listed by technology type as...

if i was given by the company Cisco's website, their products listed by technology type as such....

https://www.cisco.com/c/en/us/products/index.html#~stickynav=3

what are cisco's brands, prodct items and product lines?

In: Operations Management

Foreign currency analysis of Merck & Co. which is s an American multinational pharmaceutical company and...

Foreign currency analysis of Merck & Co. which is s an American multinational pharmaceutical company and one of the largest pharmaceutical companies in the world.

Explain the relationship between the stock price of the company and those three currencies, Euro, Yen, and Renminbi which are the most exposed to the company and how sensitive the company's value is against the change in the value of the three foreign currencies against US dollar.

State references.

In: Finance

A group of about 20 shareholders for the Fly High Corporation, a multinational airline, sued the...

A group of about 20 shareholders for the Fly High Corporation, a multinational airline, sued the CEO of Fly High, Chelsea Edinburgh, for failing to disclose that she had relations with the officers at one of the rivaling airlines, Delta Airlines. Chelsea had recently shut down several flight routes that were not creating the revenue flows that Chelsea desired. This decision had received the majority of shareholder approval during a vote. However, the 20 shareholders alleged in court that Chelsea had violated her duty to disclose the fact that she had a conflict of interest in that Delta Airlines' CEO was one of Chelsea's college classmates, and Delta Airlines would continue to operate the flight routes that Fly High had just shut down. The court ruled in favor of Chelsea, however, concluding that Chelsea had acted consistent with the shareholders' vote and in good faith.

But what if the facts of the case were different? Select each set of facts below that could change the outcome of the case.

Check All That Apply

  • Instead of being an old college classmate, the Delta Airlines CEO was Chelsea's ex-husband. Chelsea disclosed this fact, and still received the majority of votes from shareholders.
  • The two shareholders who supported the shutdown proposed by Chelsea Edinburgh each owned 30% of Fly High Corporations' shares, and had always backed Chelsea's decisions in the past because they were close friends of Chelsea outside of work.
  • A set of e-mails presented in court revealed that Chelsea had been contacted by the Delta Airlines CEO, and had been offered a future director's job paying twice her current salary if she shut down the several flights that were not creating revenue flows that Chelsea desired.
  • Chelsea disclosed that she knew that Delta Airlines was headed by an old college classmate whom she had never spoken with.

In: Economics

The Articles of Partnership for partners Moon, Sun, and Stars stipulate 10% interest allowance for each...

The Articles of Partnership for partners Moon, Sun, and Stars stipulate 10% interest allowance for each partner based on average capital balances during 2020. The beginning capital balances for Moon, Sun, and Stars on January 1, 2020 are $100,000, $250,000, and $400,000, respectively. On April 1, 2020, Moon invests additional 20,000 in the partnership. On July 1, 2020 Star withdraws 50,000 from the partnership. During 2020, Sun and Stars have drawings of 60,000 and 20,000, respectively. During 2020, partners Sun and Stars receive salary allocation of 60,000 and 20,000, respectively. If the partnership’s Net Income for the period after salary allocations are considered is above 130,000, Stars is also going to receive a bonus allowance of 10% of Net Income. The measure of Net Income used to determine the actual amount of the bonus is Net Income after bonus and interest allocations are considered, but before salary allocations are considered. The profit-and-loss sharing ratios for the partnership are: Moon (20%), Sun (50%), and Stars (30%) Required (show all your calculations):

1. Assume that the partnership’s net income for 2020 is $250,000. What is the TOTAL partnership RESIDUAL INCOME allocation in 2020? What is the total partnership profit allocation for Moon, Sun, and Stars, respectively? (10 points)

2. Assume that the partnership’s net income for 2020 is $250,000. Prepare the journal entry to close the NI into the Capital balances of the partners. (5p.)

3. Assume that the partnership incurs a net loss of $100,000 in 2020. What is the TOTAL partnership RESIDUAL INCOME allocation in 2020? What is the total partnership profit allocation for Moon, Sun, and Stars, respectively? (10 points)

4. Assume that the partnership incurs a net loss of $100,000 in 2020. Prepare the journal entry to close the net loss into the Capital balances of the partners. (5p.)

In: Accounting

Sandhill Company sells tablet PCs combined with Internet service, which permits the tablet to connect to...

Sandhill Company sells tablet PCs combined with Internet service, which permits the tablet to connect to the Internet anywhere and set up a Wi-Fi hot spot. It offers two bundles with the following terms.
1. Sandhill Bundle A sells a tablet with 3 years of Internet service. The price for the tablet and a 3-year Internet connection service contract is $469. The standalone selling price of the tablet is $230 (the cost to Sandhill Company is $157). Sandhill Company sells the Internet access service independently for an upfront payment of $292. On January 2, 2020, Sandhill Company signed 100 contracts, receiving a total of $46,900 in cash.
2. Sandhill Bundle B includes the tablet and Internet service plus a service plan for the tablet PC (for any repairs or upgrades to the tablet or the Internet connections) during the 3-year contract period. That product bundle sells for $574. Sandhill Company provides the 3-year tablet service plan as a separate product with a standalone selling price of $145. Sandhill Company signed 220 contracts for Sandhill Bundle B on July 1, 2020, receiving a total of $126,280 in cash.

In: Accounting

5. The wireless networking standard known as Wi-Fi encompasses several frequency bands in the microwave part...

5. The wireless networking standard known as Wi-Fi encompasses several frequency bands in the microwave part of the electromagnetic spectrum. The two most common are the 2.4GHz and 5GHz bands.

a) Wi-Fi channels in the 2.4GHz band range from 2.401GHz to 2.473GHz in the US. What range of wavelengths correspond to these frequencies?

b) Wi-Fi channels in the 5GHz band range from 5.170GHz to 5.835GHz in the US. What range of wavelengths correspond to these frequencies?

In: Physics

No.1 Supermarkets Pty Ltd operates a corner store and provides you with the following detail to...

No.1 Supermarkets Pty Ltd operates a corner store and provides you with the following detail to prepare their December 2020 Business Activity Statement. No.1 Supermarkets is registered for GST on a quarterly accrual basis. All amounts below are stated as GST inclusive where GST is applicable and No.1 Supermarkets Pty Ltd holds tax invoices where applicable. All invoices are dated during the period 1 October 2020 to 31 December 2020.

Receipts

               $

          440,000        Receipts from general grocery sales

          300,000        Receipts from sales of fruit and vegetables

25,000          Receipt from rental of the residential apartment above the shop

          5,000            Interest on Bank Deposits

          110,000        Receipts from Sale of alcohol

          6,000            Credit card fees for customers who used credit card

Payments

               $

          180,000        Purchase general groceries

          5,500            Maintenance cost for the residential apartments

          50,000          Salary paid to employees

          66,000          Purchase of fridges

          3,500            Rates on the shop building paid to the Council

1,400            Water expenses paid to Landlord as part of Rent

          22,000          Rent paid on the shop

          175,500        Purchase of fruit and vegetables from the growers

         

Discuss the GST implications of each of the above transactions. Advise No1. Supermarkets Pty Ltd of the Net GST payable/refundable for the December 2020 Business Activity Statement. Provide justification for your calculations using legislation, case law and rulings.`

In: Accounting

Renew Energy Ltd. (REL) manufactures and sells directly to customers a special long-lasting rechargeable battery for...

Renew Energy Ltd. (REL) manufactures and sells directly to customers a special long-lasting rechargeable battery for use in digital electronic equipment. Each battery sold comes with a guarantee that the company will replace free of charge any battery that is found to be defective within six months from the end of the month in which the battery was sold. On June 30, 2020, the Warranty Liability account had a balance of $45,000, but by December 31, 2020, this amount had been reduced to $5,000 by charges for batteries returned.

REL has been in business for many years and has consistently experienced an 7% return rate. However, effective October 1, 2020, because of a change in the manufacturing process, the rate increased to a total of 9%. Each battery is stamped with a date at the time of sale so that REL has developed information on the likely pattern of returns during the six-month period, starting with the month following the sale. (Assume no batteries are returned in the month of sale.)

Month
Following
Sale
% of Total Returns
Expected
in the Month
1st 20%
2nd 30%
3rd 20%
4th 10%
5th 10%
6th 10%
100%


For example, for January sales, 20% of the returns are expected in February, 30% in March, and so on. Sales of these batteries for the second half of 2020 were:

Month Sales Amount
July $1,700,000
August 1,700,000
September 2,200,000
October 1,300,000
November 1,000,000
December 800,000


REL’s warranty also covers the payment of the freight cost on defective batteries returned and on new batteries sent as replacements. This freight cost is 10% of the sales price of the batteries returned. The manufacturing cost of a battery is roughly 60% of its sales price, and the salvage value of the returned batteries averages 14% of the sales price. Assume that REL follows IFRS and that it uses the expense approach to account for warranties.

Calculate the warranty expense that will be reported for the July 1 to December 31, 2020 period.

Warranty Expense $Enter your answer in accordance to the question statement

eTextbook and Media

  

  

Calculate the amount of the accrual that you would expect in the Warranty Liability account as at December 31, 2020, based on the above likely pattern of returns.

Provision in the Warranty Liability account $Enter your answer in accordance to the question statement

eTextbook and Media

  

  

Would your answer to any of the above situations change if REL followed ASPE?

Choose the answer from the menu in accordance to the question statement                                                                      YesNo

In: Accounting