1. In the lowe left corner of the Excel 2010 window. What does blue square icon in the status bar ( outlined in red) indicates?

a. It means that sheets is in ready mode

b. it means that current shape fill color is blue

c. It's the stop button for the macro that is currently being recorded.

d. It means that the current workbook is open in protected mode

e. It means that Excel is currently refreshing local data from the external data sources.

2. Excel backstage allows you to do many workbook related activities such as opening, savings, setting permissions, printing and sharing. Which of the following is not a tab available in the backstage?

a. print

b. share

c. help

d. Info

e. Permissions

3. Bellow top right corner of the Excel 2010 window, what is the purpose of the small button ( outilned in red) that appears right above the vertical scrollbar?

a. It splits the window vertically

b. It locks the verical scrollbar

c. It hides the vertical scroolbar

d. It freezes the panes around the current cell.

e. It enables synchronous scrolling

4. What value will be returned by formula bellow?

=SUM (IF FREQUENCY A1:A9, A1:A9) > 0, 1))

NAMES: A1=33 , B3=48, B6=48, B8=25, B9=33

a. 3

b. 9

c.8

d. #Value

e.#Name

5. The figure bellow shows the excel's name box (A1). Which of the following common functions can Name Box help you with?

Select all answers that apply

a. Show the selected cell address when only one cell is selected

b. show the selected range address when multiple cells are selected.

c. Show the selection size in R x C format during the selection

d. Show a drop-down list of the available defined names

e. Select the corresponding range when a defined name is selecetd from the drop-down list

6. Excel 2010 allows you to apply 3D Format and surface material to both chart are and individual series. Which of the following materials are available in the list of the standard materials in Excel 2010?

Select all answers that apply

a. Plastic

b. wood

c. Matte

d. Charcoal

e. Metal

Write a class FinancialAidApplicant which describes an applicant for financial aid and will be used by a financial aid officer.

Qualification is based on annual household income and the number of people in the household. If the household income is less than $20,000, the applicant automatically qualifies regardless of how few people are in the household. If the household income is at least $20,000 but at most $60,000 and there are 4 or more people in the household, the applicant qualifies. If the household income is more than $60,000 but at most $150,000 and there are 6 or more people in the household, the applicant qualifies. For all other cases, the applicant does not qualify.

A tester program is provided to you in Codecheck, but there is no starter code for class FinancialAidApplicant.

You should declare static constants for the numbers mentioned above.

The class has a constructor that takes a String, a double, and an int as parameters

public FinancialAidApplicant(String name, double income, int numberOfPeople)

It also has four methods:

• public String getName() Gets the applicant's name.

• public void setNumberOfPeopleInHousehold(int people) Sets number of people in the household

• public void setHouseholdIncome(double income) Sets a new household income

• public boolean qualifies() Returns true if the applicant qualifies and false

Method qualifies should have one if-else if-else statement instead of multiple if statements.

Code check:

public class FinancialAidApplicantTester
{
   public static void main(String[] args)
   {
       FinancialAidApplicant applicant =
          new FinancialAidApplicant("Joe Programmer",19999, 1);
         
       System.out.printf("The name of the applicant: %s.%n", applicant.getName());
       System.out.println("Expected: The name of the applicant: Joe Programmer.");

       System.out.println(applicant.qualifies());
       System.out.println("Expected: true");
       
       applicant.setHouseholdIncome(20000);
       applicant.setNumberOfPeopleInHousehold(3);
       System.out.println(applicant.qualifies());
       System.out.println("Expected: false");
       
       applicant.setNumberOfPeopleInHousehold(4);
       System.out.println(applicant.qualifies());
       System.out.println("Expected: true");

       applicant.setHouseholdIncome(60000);
       applicant.setNumberOfPeopleInHousehold(4);
       System.out.println(applicant.qualifies());
       System.out.println("Expected: true");
       
       applicant.setNumberOfPeopleInHousehold(3);
       System.out.println(applicant.qualifies());
       System.out.println("Expected: false");
       
       applicant.setHouseholdIncome(60001);
       applicant.setNumberOfPeopleInHousehold(6);
       System.out.println(applicant.qualifies());
       System.out.println("Expected: true");
       
       applicant.setNumberOfPeopleInHousehold(5);
       System.out.println(applicant.qualifies());
       System.out.println("Expected: false");
       
       applicant.setHouseholdIncome(150000);
       applicant.setNumberOfPeopleInHousehold(6);
       System.out.println(applicant.qualifies());
       System.out.println("Expected: true");
       
       applicant =
          new FinancialAidApplicant("Mary Rowe",150001, 10);
 
       System.out.printf("The name of the applicant: %s.%n", applicant.getName());
       System.out.println("Expected: The name of the applicant: Mary Rowe.");

       System.out.println(applicant.qualifies());
       System.out.println("Expected: false");
   }
}

The comparative statements of Wahlberg Company are presented here.

All sales were on account. Net cash provided by operating activities for 2020 was $216,000. Capital expenditures were $132,000, and cash dividends were $79,678.

Compute the following ratios for 2020. (Round Earnings per share, Current ratio and Asset turnover to 2 decimal places, e.g. 1.65 or 1.65:1, and all other answers to 1 decimal place, e.g. 6.8 or 6.8%. Use 365 days for calculation.)

Kremlin Spirits Pty Ltd (Kremlin) operates a business from premises it owns in Brisbane importing premium quality vodka. Its directors are Vasili and Svetlana (his niece). Kremlin has three shareholders: Vasili, Svetlana and Mikhail. Mikhail has lent considerable amounts of money to Kremlin over the years. Vasili controls the company’s business activities, while Svetlana does not concern herself with the day-to-day management of Kremlin’s business so that she does not really understand the business or its finances. Svetlana is currently undertaking a Bachelor of Commerce on a part-time basis and Vasili has told her that he would like her to take over the accounting side of the business when she finishes her degree in 2021. Due to the popularity of Australian wines, the vodka business falls into a slump. By early March 2020, Vasili is selectively paying trade creditors of Kremlin, having insufficient funds to pay all debts as they fall due. To prop up the company’s fortunes, however, Vasili arranges for the company to obtain a loan of $30,000 from an old friend to spend on advertising in April 2020. Despite the advertising campaign, a liquidator was appointed to wind up the company in June 2020.

Advise the liquidator in respect of the following matters under the Australian Corporations Act 2001 Cth:

(a) Whether there is any basis for recovering funds from the directors personally? If so, are there any defences that Vasili and/or Svetlana can rely on?

(b) In January 2020, Mikhail demanded that Kremlin should repay him some of the money it owed him. Vasili and Svetlana decided that Kremlin should pay half of the debt back to Mikhail.

(c) When Kremlin was established, it borrowed $100,000 from Large Bank. The loan was secured by a non-circulating security interest over the company’s premises and a circulating security interest over its assets and undertaking. Vasili and Svetlana also provided personal guarantees to the bank. When the circulating security interest was granted, neither Kremlin nor the Bank registered it on the Personal Property Securities (PPS) register. The necessary forms were provided to the bank, but a clerk at the bank lost the forms before they could be lodged.

The long-term liabilities section of CPS Transportation’s December 31, 2020, balance sheet included the following: (FV of $1, PV of $1, FVA of $1, PVA of $1, FVAD of $1 and PVAD of $1) (Use appropriate factor(s) from the tables provided.)

a. A lease liability with 15 remaining lease payments of $38,000 each, due annually on January 1:

The incremental borrowing rate at the inception of the lease was 11% and the lessor’s implicit rate, which was known by CPS Transportation, was 10%.

b. A deferred income tax liability due to a single temporary difference. The only difference between CPS Transportation’s taxable income and pretax accounting income is depreciation on a machine acquired on January 1, 2020, for $560,000. The machine’s estimated useful life is five years, with no salvage value. Depreciation is computed using the straight-line method for financial reporting purposes and the MACRS method for tax purposes. Depreciation expense for tax and financial reporting purposes for 2021 through 2024 is as follows:

The enacted federal income tax rates are 20% for 2020 and 25% for 2021 through 2024. CPS had a deferred tax liability of $9,500 as of December 31, 2020. For the year ended December 31, 2021, CPS’s income before income taxes was $960,000.

On July 1, 2021, CPS Transportation issued $660,000 of 9% bonds. The bonds mature in 15 years, and interest is payable each January 1 and July 1. The bonds were issued at a price to yield the investors 10%. CPS records interest at the effective interest rate.

Required:
1. Determine CPS Transportation’s income tax expense and net income for the year ended December 31, 2021.
2. Determine CPS Transportation’s interest expense for the year ended December 31, 2021.
3. Prepare the long-term liabilities section of CPS Transportation's December 31, 2021, balance sheet.

Selected balance sheet and income statement information follows for Snap Inc. and Golden Eagle Inc. for the fiscal year ended January 30, 2020.

Required

a. Compute the following ratios for the fiscal year ended January 30, 2020.

• Round your answers to two decimal places (for example, enter 20.46 for 20.455558).

b. Comment on liquidity and solvency comparing the ratio results from the the two companies, assuming all differences are material.

As compared to Golden Eagle, Snap Inc. has a:

As compared to Golden Eagle Inc., Snap Inc. has:

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LazyDaz, Inc. reported the following for its 2020 financial statements.
Balance Sheet

Income Statement
For the Year Ending Dec 31, 2020

The financial notes of LazyDaz disclose the following 2020 information:
(1) Property, plant and equipment was sold for cash. The PP&E had an original cost of $400
and accumulated depreciation of $100.
(2) Stock was issued for $120 cash.
(3) Bonds of $30 were retired.
(4) Land with a cost of $140 was sold.
(5) There were two major noncash transactions. PP&E was acquired by issuing a $75 long-term
note. Later in the year, PP&E was acquired by issuing $100 in common stock.
(6) All other transactions were cash transactions.

Can you prepare a Statement of Cash Flows for this information

4. Suppose you are hired on January 1, 2020 and start depositing $400 at the end of each month, with the first deposit on February 1, 2020, in a pension fund that pays interest of 9% per year compounded monthly on the minimum monthly balance and credited at the end of each month.  

(a) How much money is in the pension fund on March 1, 2020?

(b) How much money is in the pension fund on April 1, 2020?

(c) How much money will be in the pension fund on January 1, 2040?

(d) What is the total amount of interest earned in this pension fund during these 20 years?

(a) ABC Company purchased land at a cost of $400,000,000 during 2018. ABC chooses to use the revaluation method of accounting for land. The fair value of the land is as follows at December 31, 2018 2019 and 2020:

2018 - $450,000,000
2019 - $360,000,000
2020 - $385,000,000

Required
(a) Record the journal entries to account for revaluation of the land at 31 December 2018, 2019 and 2020.

(b) Assume ABC Company chooses to apply the cost method for the land and that the above amounts are the recoverable amount of the land at 31 December each year. Record the necessary journal entries to account for the land at 31 December 2018, 2019 and 2020.