What is it that draws us as humans to music? How can listening to music impact our emotions, thoughts, or behaviors? What examples do you have from your own life of music impacting you in some way? What explanation can there be for how different music, which has different sounds, has different effects on us?

Use this facts to make balance sheet for money maker company

Money Maker Company (MMC) has a registered capital of 50,000,000 Baht. The company maintains a savings account at Siam Commercial Bank in the amount of 10,000,000 Baht earning interest at 2.5% per year. This account was active for 12 months in 2017. As a benefit for its maintaining good account, MMC was given 5,000,000 Baht over draft protection for its check writing privilege. MMC pays its short-term debts 50,000 Baht per month throughout 2017. There are 5 directors in the company; each director can borrow 5,000,000 Baht from the company. Three directors took advantage of this privilege in 2017. Three directors borrow the money on 6 months due in June 2017, but by December 2017, these directors still did not pay the loans. The loans to these 3 directors came from the company’s reserves account. The total reserved was 10,000,000 baht. Thus, no collection attempt was made on the three directors who were in arrear on the loan repayment.
MMC derives its main income from selling manufactured goods. It produces flat screen TV for export. Its main office is in Bangkok and pays its income tax on its revenue as regular income without any special treatment. In 2017, it took advantage of the government's tax incentive policy to create jobs in industry parks by establishing one production plant in Chonburi Province. As the result MMC receives a certain percentage tax exemption. The following are list of expenses related to its Chonburi production plant. The company’s consolidated income statement shows that MMC earned 350,000,000 Baht from sales. The Chonburi branch accounts for 80% of the company’s total sales revenue. In 2017, the company adopted unique business model by dividing its operations into sales/administration and manufacturing. All manufacturing activities are done in Chonburi plant. All sales and administration are done by the head office in Bangkok office.
The company has US dollar account where it has $1,000,000 in January 2017 when the exchange rate was 30.50 Baht per dollar. By December 2017, the exchange rate was 33.50 Baht per dollar. The privilege of maintaining this US dollar account costs 1,000 Baht per month.
In addition to deriving income from sales, the company also has other sources of income. It earns 2% on its reserved that had not been lent to its directors. In 2017, the company speculated on bitcoin by making 1,000,000 Baht worth of purchase and sold it for 2,000,000 Baht. In the middle of 2017, the company sold one of its parking lot and made 3,000,000 Baht in profit. This profit from Bitcoin investment was re-invested in stock where the company received 5 Baht per share for 10,000 Shares.
The company pays 10,000,000 Baht per year for the right to use the copyright design of the product that its produces to sell. The production processes uses diesel fuel as the source of energy; the company spent 50,000,000 Baht for diesel fuel. The company subcontracted part of its production to subcontractor in order to save coast; the subcontracting bill for 2017 was 12,000,000 Baht. The company follows lean production method, and maintains zero inventory at the end of each accounting period. In 2017, the company spent 80,000, 000 Baht on raw materials and had 5,000,000 of work in process at the end of 2017 accounting period.

John invents The Night Truck, a mobile night-shop with home delivery service between 8

pm and 6 am.

We are end December 2019 and John needs your help to evaluate this project. The project could generate annual sales of 150.000 € in 2020. The sales could then increase by 10% a year. John anticipates that a new regulation as from 2024 would prevent the sales of

alcohol during the night, meaning that sales would stop on the 31st of December 2023. Cost of sales amounts to 60% of sales.

The project requires a new warehouse as well as two trucks. The initial total investment (in 2019) is estimated at 200.000 € (which can be depreciated linearly over 10 years from 2020 onwards). At the end of 2023, the initial investment could be sold for 92,300 €.

John recently travelled to New York, where the concept already exists, to study the feasibility of the project. This trip cost 5.000 € and will be paid in 2020. In 2020, accounts receivable would increase by 75,000 €, inventories by 25.000 € and accounts payable by 50.000 €. Those accounts will stay stable until 2022, with the exception of inventories which John expects to further increase by 10.000 € in 2022 to meet the increasing demand. At the end of the project, all these amounts would be recovered.

The company is subject to a tax rate of 25%. Assume that all cash flows occur at the end of the year, that the inflation rate is 0% and that the annual risk-free rate is 2% (annually compounded). The risk premium for similar projects is 6% (annually compounded).

Questions:

1) What is a sunk cost? Do you identify such cost for the project?

2) Calculate the incremental net incomes and free cash flows of the project.

3) Which discount rate should you choose to evaluate the project? How do you interpret your answer? What is the main information included in this number?

4) Calculate the NPV of this project? What would you advise to John? Why?

5) What would be the impact of this project on the company’s value (if the project is undertaken...)?

Electronics Inc. buys and sells photocopy equipment that are used in businesses across Ontario. The company follow IFRS. Unit selling prices range from $10,000 to $100,000.

• Electronic Inc. delivers the photocopy equipment on October 15th, 2020, and completes the installation of the photocopy equipment on November 1^st, 2020.
• On December 31^st Centennial College pays for 2 months of maintenance services. The following December 31^st Centennial College pays for 10 months of maintenance services.

On November 15^th Centennial College informs Electronic Inc. that they will be not be able to pay their account that is due. The two parties enter into an agreement that the account will be converted into a non-interest bearing promissory note to be repaid in one year from now. The maturity value of the note is $67,098. Centennial College borrows fund at a rate of 6%. Electronic Inc. has various loans at 5% interest. The company’s yearend is December 31^st.

1. List the performance obligations?
2. Explain when the revenue should be recognized for each performance obligation under IFRS. Support your answer by explaining why it should be recognized at the time you selected.
3. Prepare the journal entries for 2020 and 2021. If there is no entry be sure to state, no entry. Hint remember to allocate the revenue among the different performance obligations and then use this information when you prepare the journal entries.

Tower Company owned a service truck that was purchased at the beginning of 2018 for $31,000. It had an estimated life of three years and an estimated salvage value of $4,000. Tower company uses straight-line depreciation. Its financial condition as of January 1, 2020, is shown in the following financial statements model.

In 2020, Tower Company spent the following amounts on the truck:

Record the 2020 transactions in a statements model like the preceding one. (In the Cash Flow column, use the initials OA to designate operating activity, IA for investing activity, FA for financing activity, NC for net change and NA for not affected. Round your answers to the nearest dollar amount. Enter any decreases to account balances with a minus sign.)

On January 1, 2016, Sunland Corporation acquired equipment costing $73,280. It was estimated at that time that the equipment would have a useful life of eight years and no residual value. The company uses the straight-line method of depreciation for its equipment, and its year end is December 31.

1. Calculate the equipment’s accumulated depreciation and carrying amount at the beginning of 2018.

---Equipment’s accumulated depreciation =

----Carrying amount=

2.What is the amount of the gain or loss that would arise when a quarter of the equipment was sold on January 1, 2018, for cash proceeds of $19,760?

gain / loss ? from sale of equipment =?

3. What is the depreciation expense for January 1, 2018, to October 31, 2018? Depreciation expense=

4.On November 1, 2018, the company purchased additional equipment for $9,600 that also had a useful life of eight years and no residual value. What is the depreciation for the two months ending December 31, 2018? Total depreciation for 2 months=

5. On December 31, 2018, the company sold some equipment for a loss of $3,020. After recording the sale, the balances in the Equipment account and Accumulated Depreciation account were $52,760 and $14,418, respectively. Based on this information, what were the proceeds received when this equipment was sold?

Cash proceeds from sale =

Suppose that Jeff has a US quarter and a US nickel. Jeff believes that his US quarter is more likely to land heads than his US nickel. Suppose Jeff flips his quarter 100 times and gets 51 heads, and Jeff independently flips the nickel 100 times and gets 49 heads.

(a) Construct a 99% confidence interval for the difference in the proportion of times Jeff’s quarter lands heads and the proportion of times Jeff’s nickel lands heads.

(b) If Jeff’s quarter were to truly land heads more often than his nickel, would Jeff hope that the confidence interval in (a) consists of only negative or only positive real numbers? Briefly explain your answer.

(c) What could Jeff do to get a narrower confidence interval than the confidence interval in (a)?