The three directors of Masks R Us Pty Ltd, successfully negotiate a contract worth $150, 000, on behalf of the company, to supply masks to a large retail chain of stores. Tom and Dick then incorporate a new company, Masks Suppliers Pty Ltd, and cause the new company to perform the supply contact.  Harry is unhappy about this development and contacts ASIC.

Advise ASIC of its options under the Corporations Act and the legal consequences of those options.

Other data:

1.  Accrued but unrecorded and uncollected consulting fees earned at December 31 amount to: $27500.

2. The company determined that $16500 of previously unearned consulting fees had been earned at December 31.

3.  Office supplies on hand at December 31 total $330

4.  The company purchased all of its equipment when it first began business. At that time, the estimated useful life of the equipment was six years.

5. The company prepaid its nine-month rent agreement on June 1, 2020.

6. The company prepaid its six-month insurance policy on December 1, 2020

7.  Accrued but unpaid salaries total $13200 at December 31,2020.

8. On September 1, 2020, the company borrowed $66000 by signing an eight-month, 4 percent note payable. The entire amount, plus interest, is due March 31, 2021.

Account                                                                                 Debit                             Credit

Cash                                                                                       304,150

Accounts Receivable                                                             99,000

Office supplies                                                                            880

Prepaid rent.                                                                            3,960

Unexpired insurance                                                              1,650

Office equipment                                                                  79,200

Accumulated depreciation: office equipment                                                          26,400

Accounts payable                                                                                                              4,400

Notes payable (due 3/1/12)                                                                                          66,000

Interest payable                                                                                                                    660

Income taxes payable                                                                                                       9,900

Dividends payable                                                                                                             3,500

Unearned consulting fees                                                                                              24,200

Capital stock                                                                                                                   220,000

Retained earnings                                                                                                           44,000

Dividends                                                                              3,500

Consulting fees earned                                                                                               550,000

Rent expense                                                                        16,170

Insurance expense                                                                 2,420

Office supplies expense                                                        4,950

Depreciation expense: office equipment                        12,100

Salaries expense                                                                363,000

Utilities expense                                                                    5,280

Interest expense                                                                    3,300

Income taxes expense                                                        49,500

Totals                                                                                   949,060                      949,060

1. Using the financial statements prepared in part b., evaluate the company ́s (i) profitability, (ii) liquidity, and (iii) solvency.

The condensed financial statements of Murawski Company for the years 2019 and 2020 are presented follows. (Amounts in thousands.)

Compute the following ratios for 2020 and 2019. (Round current ratio and invertory turnover ratio to 2 decimal places, e.g. 1.62 or 1.62% and all other answers to 1 decimal place, e.g. 1.6 or 1.6%.)

Minden Company manufactures a high-quality wooden birdhouse that sells for $25
per unit. Variable costs are $12 per unit, and fixed costs total $210,000. The
company sold 30,000 birdhouses to customers during 2020. The president of
Minden Company believes the following changes should be made in 2021:

1. the selling price of the birdhouse should be reduced by 20%

2. increase advertising by $33,000

Assume these changes are made. Calculate the number of units Minden Company
must sell in 2021 in order to break-even.

Please, I need the following indicators for Mexico 2020 and Peru 2020, if you can provide numbers from a trustworthy website.

·        Flexibility of Exchange rate: fixed or flexible?

·        Size of Current Account Deficit: large or small?

·        Size of Budget Deficit: large or small?

·        Amount of Foreign Reserves: small or large?

·        Amount of Foreign Debt: large or small?

Political Risk: high or low?

On June 1, 2020, Pitt Corp sold merchandise with a list price of P50,000 to Bull on account. Pitt allowed trade discounts of 30%, 20%, and 10%. Credit terms were 2/15, n/40 and the sale was made FOB destination. Bull paid P2,000 of delivery costs. On June 12, 2020, how much did Pitt receive from Bull as full payment?

A North Carolina university wants to determine how many of its graduating students go on to find gainful employment in their field of study. After sampling 200 students from the previous graduating class, they find that 174 of them are employed in a related field. Using this information, construct the 90% confidence interval for the amount of students that will go on to be employed in their field.

Determine the level of measurement for each of the variables: Nominal, Ordinal, Interval - Ratio

               a) Number of people in family

               b) Percentage of university students who attend public school

               c) The rating of the overall quality of a textbook from excellent to poor

               d) Your annual income

               e) The presidential candidate you voted for

               f) Your age