True or False

1._____ Dividends in arrears on cumulative preferred stock need not be recorded as a liability.

2._____All long-term debt maturing within the next year must be classified as a current liability on the balance sheet.

3._____ A company is a plaintiff in a lawsuit. It should accrue the estimated gain from the judgment if information indicates that it is virtually certain and the amount can be reasonably estimated.

4._____The revenue from a service-type warranty that covers several years should all be recognized in the period the warranty is sold.

5._____Under an assurance-type warranty, companies charge warranty costs only to the period in which they comply with the warranty.

6._____Prepaid insurance should be included in the numerator when computing the acid-test (quick) ratio.

7._____Current liabilities are usually recorded and reported in financial statements at their full maturity value.

8._____Debt securities held as an investment include corporate bonds and convertible debt, but not U.S. government securities.

9._____Securities classified as trading securities are securities bought and held primarily for sale in the near-term to generate income on short-term price differences.

10._____Unrealized holding gains and losses are recognized in net income for available-for-sale debt securities.

Commercial Law Question

Ben was an alumnus of HKU. He joined Wonder Sports Supplies Limited as a marketing assistant after graduated a year ago. Last Saturday, he took a recently marketed skateboard from his employer without permission and wanted to try it out near the HKU campus.

Ben was so excited to be back to the HKU campus again. He jumped onto the skateboard and started off despite the fact that he was not very skillful in this sport. Skateboarding on the lane in front of the HKU Residential College, Ben decided to go all the way along Bonham Road to Block D. As he was going down the slope, he started to accelerate at high speed and finally lost control. Ben skateboard ran into Tom, who was walking with his back towards the skateboard. Tom was knocked down by Ben, broke his left arm and injured his head. He was then rushed to the hospital by an ambulance.

Required:

(a)     Discuss whether Tom can bring an action against Ben for his injuries based on tort of negligence.

(b)     Explain the concept of vicarious liability. Discuss whether Tom can sue Wonder Sports Supplies Limited instead of Ben.

Please read the "Bernard L. Madoff: The Fraud of the Century" case study (C37 in the Case Study section near the end of textbook).

Required:

After reading the case, please respond to the following questions:

1. Under the fundamental principles governing an audit covered in Chapter 2, we learned that auditors are required to exercise due care and maintain professional skepticism throughout the audit. Based on the case information, do you believe that the auditors from Friehling & Horowitz exercised due care and maintained professional skepticism throughout the audit? Why or why not?
2. After the Madoff case, the SEC instituted a number of reforms to its operations. Please visit the SEC's website (www.sec.gov (Links to an external site.)Links to an external site.) and search for Post-Madoff reforms. Next, please identify the two reforms that you believe will have the best chance of detecting illegal activity such as the activities of Madoff. Make sure to provide justification for your choices.
3. Consider section 24 of the Securities Act of 1933 and section 32 of the Securities Exchange Act of 1934 (see Module C in Part III of textbook). Based on the case information, do you believe that Madoff's auditor, Friehling, should be facing criminal charges? Why or why not?

Sarah and Rolfe are excited about starting a business together! They want to start manufacturing unique pieces of furniture and selling them locally and then expand nationwide. Sarah is single and plans on working on growing the business 24/7. She currently rents an apartment, drives a used car and only has about $1,000 in her bank account. Rolfe is married and works full-time for Amazon in customer service and his partner works as an emergency room nurse. Rolfe can only devote about 10 hours a week to the business. He and his partner make about $180,000 per year combined, own a home and have about $50,000 saved in their bank account. Currently, they are planning on having children in the near future.  

Based on the above facts, if Sarah and Rolfe want to create a formal business entity, what type should it be? Explain why, based on what you've learned from your reading and the facts listed above. You can include any assumptions as some facts may be missing that you would want to know, but please state what assumptions you've made in your answer. (answer must be a minimum of 10 sentences)

Two loudspeakers are about 10 m apart in the front of a large classroom. If either speaker plays a pure tone at a single frequency of 400 Hz, the loudness seems pretty even as you wander around the room, and gradually decreases in volume as you move farther from the speaker. If both speakers then play the same tone together, what do you hear as you wander around the room?

(a) A constant force < 31, -13, 36 > N acts through a displacement < 0.17, 0.34, -0.24 > m. How much work does this force do?
Work =           ?J

(b) An object with mass 7 kg moves from a location < 28, 28, -43 > m near the Earth's surface to location < -34, 16, 45 > m. What is the change in the potential energy of the system consisting of the object plus the Earth?
Change of potential energy =     ?J

(c) A spring whose stiffness is 900 N/m has a relaxed length of 0.59. If the length of the spring changes from 0.48 m to 0.86 m, what is the change in the potential energy of the spring?
Change of potential energy =      ?J

(d) You observe someone pulling a block of mass 33 kg across a low-friction surface. While they pull a distance of 6 m in the direction of motion, the speed of the block changes from 3 m/s to 5 m/s. Calculate the magnitude of the force exerted by the person on the block.
F =     ?N

(e) What was the change in internal energy (chemical energy plus thermal energy) of the person pulling the block?
Change in internal energy =     ?J

PLZ RE-PHRASE the Following DATA (This data is taken from different papers you can change it at some extent ):-

Distributed generation terminology is utilized showing a scale electricity generation that is small. Just what exactly now could be scale electricity generation that is tiny? Currently, there is no contract as to in what way generation that is distributed undoubtedly be defined. As according to study of CIRED [1], there isn't any contract through the fundamental notion of this term [2]. The working musical organization of CIGRE [3] committed to generation that is distributed generation as all generation devices having a maximum ability of 50MW to 100MW that can be linked to the circulation community and generally are additionally neither centrally prepared. The IEEE [4], on the reverse side hand, describes distributed generation simply because generation of electricity by facilities being adequately smaller when compared with main producing flowers to allow interconnection at almost any part of system that is electric. Global Energy Agency, in change, views the generation that is distributed devices creating energy for a customer’s website or within neighborhood circulation resources, and providing energy right to the place circulation system. [6] Defines distributed generation as being a small availability of electricity generation or storage space (typically including less than a kW to tens of MW) that is not part of a large energy that is main which is situated near the load. [7] in turn describes distributed generation as fairly generation that is tiny of 30MW or less, which are often sited at or near client websites to meet certain client requirements, to guide financial procedure concerning the circulation grid, or both. A great summary of several definitions proposed inside the literary works is provided in [8], where the writers conclude it comes down to generation ability that they find the meaning proposed by [9], which is determining the distributed generation when it comes to connection and location instead of whenever. Every person generally speaking generally seems to accept at the least the generation that is small-scale attached to the circulation grid to be looked at being an component of distributed generation. Furthermore, generation devices installed near to the anxiety or possibly once you consider the customer region for this meter in many cases are commonly thought as distributed generation. This criterion that is second overlaps aided due to the very first, because a lot of associated with the generation devices on client internet sites are often attached to the circulation grid. But, the latter might also add notably bigger generation units, installed on consumer internet sites, but connected to the transmission grid 1. The term-distributed generation ought to be further used to depict an electric powered driven energy generation supply linked directly to your circulation community or through the consumer area of this meter as the writers for the report additionally share these views. Distributed generation, with regards to minute loosely thought as small-scale electricity generation, is just a entire concept that is brand new the economics literary works about electricity areas, though the concept behind it isn't brand new in the end. Throughout the very early times throughout the electricity generation, distributed generation had been the guideline, perhaps not the exclusion. The ability that is original just provided electricity to clients once you think about the close neighbor hood linked to the generation plant. Initial grids had been DC based, when an impact, the supply voltage had been restricted, as ended up being the length that is precise might be properly used between generator and customer. Balancing need and offer had been partially done utilizing storage space that is regional simply. batteries, that might be straight combined towards the DC grid. Along with distributed generation, neighborhood storage space could be time for the scene. Later on, technical evolutions, similar to the emergence of AC grids, permitted electricity to be transported over longer distances, and economies of scale in electricity generation cause a increase into the power production related to generation devices. All of this work work lead to increased convenience and reduced per device expenses and electricity that is massive had been constructed, consists of huge transmission and circulation grids and enormous generation flowers. In reality, this interconnected voltage that is high made the economy of scale in generation feasible. In the previous decade that is few technologies and a changing financial and regulatory environment have actually led to a renewed interest for distributed generation.

Question : does CA allow for the exemptions in every case of bankruptcy?

There are a lot of rules involved when filing for chapter 7 bankruptcy especially in CA are there any fees for filing bankruptcy in CA? Are your assets unprotected if they exceed the amounts listed?

Discussion:

defines and differentiate between Chapter 7 and Chapter 11 bankruptcy.

Chapter 7 bankruptcy is the simplest and most common form of bankruptcy. In Chapter 7, if the debtor has assets not protected by an exemption, a court appointed trustee may sell the assets and distribute the net proceeds to creditors according to the priorities established in the Code.

This chapter of the Bankruptcy Code generally provides for reorganization, usually involving a corporation or partnership. A chapter 11 debtor usually proposes a plan of reorganization to keep its business alive and pay creditors over time. People in business or individuals can also seek relief in chapter 11.

Explain the differences between Chapter 7 bankruptcy and Chapter 11 bankruptcy.

The most common type of bankruptcy is filed which accounts for 70 percent of all filings. The trustee sells the assets and distributes all proceeds first to secured creditors and then to unsecured creditors. Depending on the outcome of the asset sale, creditors can receive anywhere between 0 and 100 percent of their claims against the bankrupt company. Once the bankruptcy proceeding is complete, any remaining debts are discharged and the company disappears.Straight bankruptcy proceedings can be started by filing either a voluntary or an involuntary petition. A voluntary case starts when the debtor files a petition with a bankruptcy court, stating the names and addresses of all creditors, the debtor's financial position, and all property the debtor owns. On the other hand, creditors start an involuntary petition by filing with the bankruptcy court. As soon as a petition is filed in a bankruptcy court, all creditors' claims against the debtor are suspended. Called an automatic stay, this provision prevents creditors from collecting any of the debts the debtor owed them before the petition was filed, In other words, no creditor can begin or continue to pursue debt collection once me petition is filed.Not every piece of property the individual bankrupt debtor owns is subject to court attachment. According to the Bankruptcy Reform Act certain assets are exempt, although each state establishes its own exemptions. The law does not allow a debtor to transfer the ownership of property to others to avoid its seizure in a bankruptcy.

In the state of California a Chapter 7 bankruptcy allows you wipe out your debts and get a “Fresh Start”. Chapter 7 bankruptcy is a liquidation where the trustee collects all of your assets and sells any assets which are not exempt. Certain debts cannot be discharged in a Chapter 7 bankruptcy, such as alimony, child support, fraudulent debts, certain taxes, student loans, and certain items charged.

When you file bankruptcy in California you may also use certain federal exemptions in addition to your California exemptions.

California has two sets of exemptions. You must choose one or the other.

I have the following data for a sample of 97 observations:

I now need to find out the Skewness. However I cannot use Excel's built in functions(=Skew) or Data Tool. How can I write the formula in an Excel cell to find the skewness? I know the result should be -0.52

Q2. Solar or photovoltaic (PV) cells convert sunlight to electricity and are commonly used to power calculators, satellites, remote communication systems, and even pumps. The conversion of light to electricity is called the photoelectric effect. It was first discovered in 1839 by Frenchman Edmond Becquerel, and the first PV module, which consisted of several cells connected to each other, was built in 1954 by Bell Laboratories. The PV modules today have conversion efficiencies of about 12 to 15 percent. Noting that the solar energy incident on a normal surface on earth at noontime is about 1000 W/m2 during a clear day, PV modules on a 1-m2 surface can provide as much as 150 W of electricity. The annual average daily solar energy incident on a horizontal surface in the United States ranges from about 2 to 6 kWh/m2. A PV-powered pump is to be used in Arizona to pump water for wildlife from a depth of 180 m at an average rate of 400 L/day. Assuming a reasonable efficiency for the pumping system, which can be defined as the ratio of the increase in the potential energy of the water to the electrical energy consumed by the pump, and taking the conversion efficiency of the PV cells to be 0.13 to be on the conservative side, determine the size of the PV module that needs to be installed, in m2. (TOTAL 25 MARKS)