The following selected transactions relate to investment activities of Ornamental Insulation Corporation during 2021. The company buys debt securities, intending to profit from short-term differences in price and maintaining them in an active trading portfolio. Ornamental’s fiscal year ends on December 31. No investments were held by Ornamental on December 31, 2020.

(Hint: Interest must be accrued.)

Required:
1. Prepare the appropriate journal entry for each transaction or event during 2021, as well as any adjusting entries necessary at year end.
2. Indicate any amounts that Ornamental Insulation would report in its 2021 income statement, 2021 statement of comprehensive income, and 12/31/2021 balance sheet as a result of these investments. Include totals for net income, comprehensive income, and retained earnings as a result of these investments.

I need help with requirement 2 2. Indicate any amounts that Ornamental Insulation would report in its 2021 income statement, 2021 statement of comprehensive income, and 12/31/2021 balance sheet as a result of these investments. Include totals for net income, comprehensive income, and retained earnings as a result of these investments.

Case Study (Part 2) – ACCT 3000 Semester 2, 2020
You are an Audit Senior on the AUDIO Health Limited (AUDIO) audit engagement for the financial year ending 30 June 2019. AUDIO specialises in the design and manufacture of implantable hearing aids and invests more than twice the industry average in research and development. While undertaking audit planning procedures you become aware of the following:
AUDIO has been developing its latest hearing implant, the X5, for a number of years. AUDIO has invested heavily in research and development of the X5 and has capitalised a significant amount in relation to the development phase of the product. Market studies and prototypes of the X5 have proved successful for bringing it to the market. In July 2018, AUDIO acquired two technologically advanced machines specifically designed for manufacturing the X5, at a cost of $15 million each. Production and sales of the X5 hearing implant commenced in October 2018, and demand for the product has been extremely high since its launch. AUDIO has sold large volumes of the product and further manufactured a large stockpile of the X5 in anticipation of on-going high demand, and a substantial number have already been implanted in patients.
There has recently been a sharp increase in incidences of the implant shutting down post-surgery, resulting in a number of patients commencing legal action against AUDIO for damages and prompting the company to initiate a recall. Initial investigations reveal that the defect is attributable to a design flaw. It is likely that the product in its current form cannot be sold. Management of AUDIO is confident that it will be possible to re-engineer the two machines acquired for the manufacturing of the X5 to enable production of its four other product lines and potentially for other products currently under development.
You have raised concerns with AUDIO’s audit committee on improving the competence and objectivity of the internal audit department. Currently, the internal audit department is made up of three recent graduates with no prior experience who periodically report the Audio’s Chief Executive Officer Dr. Dave Bautista.
Required:
Prepare a memorandum to the audit manager, outlining your risk assessment relating to AUDIO Limited. When making your risk assessment:
(a) Identify three (3) key account balances from the information provided that are subjected to an increase in audit risk. Briefly explain what factors increase the audit risk associated with the three (3) accounts identified. In your explanation, please mention the key assertion(s) at risk of material misstatement.
(b) Identify how the audit plan will be affected and recommend specific audit procedures to address the risks associated with each account identified.
(Please Note – Maximum Word Limit: 950 Words)

40. What was the balance in Accumulated Depreciation on December 31, 20x2 if Max company used the S/L method?

A. $140,000

B. $280,000

C. $420,000

D. $560,000

Show your calculation in detail.

41. What was the balance in Accumulated Depreciation on December 31, 20x2 if Max company used the DDB method?

A. $300,000

B. $600,000

C. $780,000

D. None of the above

Show your calculation in detail.

Roane Company has entered into two lease agreements. In each case

the cash equivalent purchase price of the asset acquired is known, the interest rate is 6%, and you wish to find the number of required lease payments.

Lease A covers office equipment which could be purchased for $70,000. Roane Company has, however, chosen to lease the equipment for $11,000 per year, payable at start of each of the next ___ years.

Lease A _____ years

Lease B applies to a machine which can be purchased for $66,000. Roane Company has chosen to lease the machine for $10,000 per year. Payments are due at the end of each year.

   Lease B _____ years

So i have a job interview coming up for a Engineering Intern position at a Power Plant (NAES CORPORATION). I have come across some interview questions that i might get asked and was hoping to get some answers from a Professional Electrical Engineer that can help me land this job.

1.What is important to you when considering making a new opportunity?

2.Why do you want to work here?

3.What are your concerns changing to plant work?

4.Do you know what you are interviewing for?  

5.What would you do to foster a good relationship with the operators.

6.What are your biggest strengths/weaknesses?

7.Describe how you would deal with multiple tasks.

8.Describe a time that you disagreed with someone?

9.What is an example of an obstacle you have recently faced in life and how did you handle the adversity?

10.Describe a time where you persuaded your team to complete a project using your method.

11.Describe how a power plant works.

12. Name a time when you had a teamate who was hard to work with

13. How good are your communications skills ?

If any of you professionals have an idea of what type of questions i might get asked or what basic knowledge i should know for sure , please let me know.
Any past power plant experience would be helpful

FROM THE BOTTOM OF MY HEART, THANK YOU SO MUCH !

Q33: Which political ideology opposes government regulation on business and the environment?

- liberalism

- conservatism

Q34: Which political ideology is about a belief in extensive government intervention in the economy and progressive taxation?

- liberalism

- conservatism

Q35: Which political ideology is further to the left than the mainstream Democratic Party?

- libertarians

- republicans

- socialists

- moderates

Q36: Which of the following methods will generate a simple random sample for probability sample?

- Standing on the street corner and handing out public opinion surveys to people that pass by.

- surveying the top experts in the field of politics to predict the outcome of an election

- using a random number generator to select people from rolls of registered voters to predict the outcome of the election

- using chain referrals to get more people to interview from the first set of people you interview

Q37: Which of the following is an example of the social desirability effect?

- someone answers an online survey 100 times to try to show the results

- someone misunderstands the meaning of the word "welfare" on a survey

- someone claims to attend church more than the actually do

- someone completes a paper survey but then forgets to mail it in

Q38: In 2016, election pollstors used models of likely voters that left out rural, blue-collar voters who supported Trump. The resulting inaccuracy in their poll results was due to...

- push polls

- selection bias

- the bandwagon effect

- social desirability effects

Q39: The purpose of a push poll is:

- influence public opinion

- create a larger sample

- measure public opinion

- solicit ideas

Q40: A candidate who has momentum (leading in the polls) has an easier time raising campaign funds. This is an example of...

- selection bias

- the bandwagon effect

- political socialization

- social desirability

1. Scopus Team Ltd is a treadmill specialist currently reviewing its product lines, accessories and the prospect of outsourcing few of them. As a part of this process, the CEO of the firm has appointed you as a consultant and you have chosen their treadmill product line for the possibility of outsourcing.

The company sells 22,000 of treadmills annually of two models (ZR & SQ) and their factories are located in Kent and Hull respectively. The Hull Division is their flagship unit that showcases the company’s investment in the Clean & Environment-friendly Fuel source as the division is completely run by bio-energy. The accountant of the company has provided the following information relating to the production and distribution costs of one unit of the various models of the treadmill:

An external supplier has offered to supply the same quality of ZR & SQ for £150 and £200 respectively. However, if the company accepts the offer, the following information should be taken into consideration:

1. 85% of material costs and 80% of labour costs will be saved if external supplier’s offers are accepted. The company would be able to save all variable manufacturing overhead
2. More warehouse spaces will be required in Kent for £15,000 per month in order to stock the products delivered from the external supplier; however, Hull Division has spare storage capacity for ZR series if required.
3. All of the fixed selling and administrative costs and 35% of the fixed manufacturing overhead costs are allocated costs (common costs).
4. Production supervisor’s job will be terminated. Her salary represents 25% of the fixed manufacturing cost. The rest of the fixed manufacturing overhead costs (i.e. excluding allocated costs and production supervisor’s salary) is the depreciation of machines. The external supplier has promised to pay 75% of the resale value of the machines if their offer is accepted.
5. Since customers’ order and delivery of the treadmills to customers will be responsibility of the Scopus, the company will continue paying 80% of the variable selling and administrative costs.

Required:

1. As a management consultant, prepare a report for the CEO that may help her to resolve the issue. In your report, you should apply an appropriate management accounting technique, concept(s) and/or theory. You must show detailed computation and elaborate concepts and theory that are important to manager since she does not have any background in management accounting.
2. Identify irrelevant costs and/or revenues in the above calculation and explain why they are irrelevant.                   
3. What would be the maximum price acceptable to Scopus to justify outsourcing their production from the external supplier? Show your computation
4. Would you change your decision if the external supplier delivers directly to customer and no additional storage capacity required for the Kent Division? Show necessary computation that support your argument.
5. Critically evaluate what additional qualitative factors the company should consider in deciding whether to make or buy the product from outside suppliers.
6. What additional information you might seek from the company accountant to make a better decision? Discuss your information requirements and their importance in this context.

Larkspur offers an MP3 download (seven-single medley) as a premium for every 6 candy bar wrappers presented by customers together with $2.65. The candy bars are sold by the company to distributors for 30 cents each. The purchase price of each download code to the company is $2.40. In addition, it costs 50 cents to distribute each code. The results of the premium plan for the years 2020 and 2021 are as follows. (All purchases and sales are for cash.)

Part 1

New attempt is in progress. Some of the new entries may impact the last attempt grading.Your answer is partially correct.

Prepare the journal entries that should be made in 2020 and 2021 to record the transactions related to the premium plan of the Larkspur. (If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually. Round answers to 0 decimal places, e.g. 1,525.)

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Part 2

Partially correct answer iconYour answer is partially correct.

Indicate the amounts for each accounts, and classifications of the items related to the premium plan that would appear on the balance sheet and the income statement at the end of 2020 and 2021.

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Bellows Home Inspection is a private business that provides home inspection . It has been in business for years and Ethan , the owner , is proud of their strong internal control system .

The business is showing a loss for the first time in five years . The business is very cyclical : the large majority of its sales occur when a home is purchased , so it is affected by the real estate market . It gets most of its business through Bellows Realty , a real estate broker company held by Ethan and his mother . Bellows Realty will directly purchase the home inspection from Bellows Home Inspection on behalf of its clients .

Bellows recently acquired a competitor , Home Guards Inc. To complete the purchase , it has received a significant loan from the bank . The bank will be a new user of Bellow's financial statements .

The accounting manager , however , has indicated that it has been difficult to integrate the operations of Home Guards because its internal controls over financial reporting were pretty much non - existent at the time of the acquisition .

Required : Identify four key audit issues in this company , and explain how these will affect your audit risk , using the audit risk model .

Prompt In your email back to the client, you must address the critical elements listed below. The codes shown in brackets indicate the course outcome to which each critical element is aligned. When responding to your new clients’ email, make sure to address all of their questions and concerns. This will help support the critical elements below.

I. Identify what additional documents the clients need to provide in order for you to do their taxes. [ACC-330-01]

II. Identify applicable deductions and credits available for the clients. [ACC-330-01]

III. Differentiate types of income and expenditures. [ACC-330-01]

IV. Explain how you utilized the IRS website for staying current in the identification and application of appropriate tax codes and laws. [ACC-330-01]

EMAIL FROM CUSTOMER

From: Freida C. Butler To: Jane Doe, Accountant Cc: Daniel B. Butler Date: January 20, 2016 My name is Freida C. Butler, and my husband and I were referred to you by our good friend Jackie Lynn. We would like for you to prepare our tax return this year. My husband works for WJJJ, Inc. and I work at a real estate company, Corbin Realty. I am not considered a subcontractor for them. Many of my friends are contractors for them and receive a 1099, but I do not. I believe I receive a W2—does that sound like the right form? We have three children who live with us. They were each in school at some point this past year. So you need to know which of them were enrolled in school last year or for how long? Will I get any tax breaks for them being in school? We also had income from some investments. We received interest and dividends from a few places. Can you tell me if those are reported on a 1099 form? If so, I may have to request this from my bank. We own our home and paid the typical homeowner’s expenses. What expenses will you need from us relating to our home? Are there any other questions you have for us, such as other deductions we can take? Just curious: this tax "stuff" is so much information to remember. How do you ever stay on top of all of these tax rules? I have always wondered that! Are you the best in the business? I look forward to hearing from you. Please let us know what other information