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.

Easecom Company is a manufacturer of highly specialized products for networking video-conferencing equipment. Production of specialized units is, to a large extent, performed under contract, with standard units manufactured to marketing projections. Maintenance of customer equipment is an important area of customer satisfaction. With the recent downturn in the computer industry, the video-conferencing equipment segment has suffered, causing a slide in Easecom’s performance. Easecom’s income statement for the fiscal year ended October 31, Year 1, is presented below.

Easecom Company
Income Statement
For the Year Ended October 31, Year 1
($000 Omitted)

Easecom’s return on sales before interest and taxes was 9% in Fiscal Year 1, while the industry average was 12%. Easecom’s total asset turnover was three times, and its return on average assets before interest and taxes was 27%, both well below the industry average. In order to improve performance and raise these ratios near to, or above, industry averages, Bill Hunt, Easecom’s president, established the following goals for Fiscal Year 2:

• Return on sales before interest and taxes 11%
• Total asset turnover 4 times
• Return on average assets before interest and taxes 35%

To achieve Hunt’s goals, Easecom’s management team took into consideration the rowing international video-conferencing market and proposed the following actions for Fiscal Year 2:

• Increase equipment sales by 10%.
• Increase the cost of each unit sold by 3% for needed technology and quality improvements, and increased variable costs.
• Increase maintenance inventory by $250,000 at the beginning of the year and add 2 maintenance technicians at a total cost of $130,000 to cover wages and related travel expenses. These revisions are intended to improve customer service and response time. The increased inventory will be financed at an annual interest rate of 12%; no other borrowings or loan reductions are contemplated during Fiscal Year 2. All other assets will be held to Fiscal Year 1 levels.
• Increase selling expenses by $250,000 but hold administrative expenses at Year 1 levels.
• The effective rate for Year 2 federal and state taxes is expected to be 40%, the same as Year 1.

Questions:

1) Prepare a pro forma income statement for Easecom Company for the fiscal year ending October 31, Year 2, on the assumption that the proposed actions are implemented as planned and that the increased sales objectives will be met. (All numbers should be rounded to the nearest thousand, i.e., $000 omitted.)

2) Calculate the following ratios for Easecom Company for Fiscal Year 2 and determine whether Bill Hunt’s goals will be achieved:

a. Return on sales before interest and taxes

b. Total asset turnover.

c. Return on average assets before interest and taxes.

3) Discuss the limitations and difficulties that can be encountered in using ratio analysis, particularly when making comparisons to industry averages.

JMJ Corp. is an Indiana based U.S. manufacturer of soap products. The firm has a subsidiary in Croydon, England, JMJ Ltd, that makes luxury soap for the UK market. The Croydon plant manufactures and sells 3,000,000 units of the product per year at a price of GBP 20 each. The unit variable cost is GBP 10.

ABC Corp. is considering a four-year medium-term expansion project. This would involve JMJ Ltd. opening a separate facility near Birmingham. The new plant would manufacture a similar product but to be marketed in Scotland and the north of England. It would also use more efficient technology, bringing the unit variable cost down to GBP 8.

Market analysts for JMJ Corp. have estimated that sales of the new product, at a price of GBP 21 each, would be as follows:

Year 1                    400,000 units

Year 2                    600,000 units

Year 3                    800,000 units

Year 4                    500,000 units

However, they also estimate that these sales estimates of the new product include the cannibalization of 5% of the sales of the existing product made by the Croydon facility in each of the four years of the project. The lower Croydon sales would, however, allow the Croydon operation to reduce its investment in working capital by GBP 150,000 for the duration of the project.

The opening of the new Birmingham facility would require an initial cash investment in plant and equipment of GBP 8.0 million.   This would have a residual value of about GBP 4.0 million at the end of the four-year project life. Insurance, maintenance and other fixed charges associated with the new facility are estimated to be GBP 1.0 million per year.

JMJ Corp. owns the site upon which the new facility would be located. Birmingham Council recently made an offer of GBP 3.0 million for the site for the location of a conference center. In the event that JMJ decided not to proceed with the proposed project, the company would probably take this offer.

The project would require no initial investment in working capital. However beginning in the first year, the balance sheet amount of working capital would need to be 10% of the total annual sales of the Birmingham plant in each of the four years.

The U.K. tax depreciation “capital allowances” on the GBP 8 million investment are estimated as follows:

Year                1                    2             3               4                

Amount                1,440,000 1,180,000 968,256                793,970

As in the U.S., there is either a tax benefit or tax liability on the difference between the tax basis and the residual sale value of an asset at disposal.

The effective U.K. tax rate for JMJ Ltd. is 19%. The cost of capital used by JMJ Corp. for domestic projects is 16%. However, due to the higher degree of uncertainly of non-U.S. projects, JMJ Corp. adjusts this rate by 2% as a risk adjustment. The short-term “risk-free” borrowing rate in the U.S. is currently 1% p.a. The equivalent rate in the UK is 4% p.a. The spot exchange rate is $1.25 = GBP 1.00.

Required:

Prepare a full analysis of this project for the executive management of ABC Corp. This will entail the completion of seven schedules. Conclude with a recommendation supported by your analysis.

Comprehensive Master (Operating) Budget

Bee Gee Distributors, a wholesale company, is considering whether to open a new distribution center near Bowling Green, Ohio. The center would open January 1, 2020. The economic outlook is reasonable, but extensive advance planning is required if such a commitment is to be made. As a part of the planning process, The Board of Directors requires a Master (i.e. Operating) Budgetfor the center’s first quarter of operations(i.e. January, February & March of 2020).  In order to prepare anybudget, management must make reasonable assumptions about expected sales, inventory levels and cash flows.  

SALES BUDGET: “What is the Profit Plan?”

        ** It all starts with a sales forecast **

a.     January sales are estimated to be $400,000 of which $100,000 (25%) will be cash and $300,000 will be on credit.  Management expects the above sales pattern to continue with an overall grow rate of 10% per month.  Prepare a sales budget.

b.     The company expects to collect 100% of the accounts receivable in the month following the month of the sale.  Prepare a schedule of expected cash receipts.

c.     Use the information developed above in requirements a and bto determine the amount of accounts receivable on the March 31 pro forma balance sheet and the amount of sales on the first quarter pro forma income statement.

_____________________________________________________________________

PURCHASES BUDGET: “What are our total needs, less what do we have”?

d.     Cost of goods sold will be 60% of sales.  Company policy is to budget an ending inventory balance equal to 25% of the next month’s projected cost of goods sold.  Prepare an inventory purchases budget.

Note: For March analysis needs, Aprilcost of goods sold is expected to be $314,000.

e.     All inventory purchases are on account.  The company pays 70% of accounts payable in the month of purchase. It pays the remaining 30% in the following month.  Prepare a schedule of expected cash payments for inventory purchases.

f.     Use the information developed above in requirements d and eto determine the amount of cost of goods sold on the first quarter pro forma income statement and the amounts of ending inventory and accounts payable on the March 31 pro forma balance sheet.

ADMINISTRATIVE & SALES EXPENSE BUDGET:

g.     Budgeted monthly selling and administrative expenses are:

         *The capital expenditures budget shows that Bee Gee must purchase $100,000 of equipment on January 1 to establish the new center.  Since the equipment supplier allows a thirty-day trial period, assume Bee Gee will pay for the equipment in January (i.e. by 1/31).  Using Straight-line depreciation, the equipment is expected to have a 10-year useful life and a $10,000 salvage value.  

            SELLING AND ADMINISTRATIVE EXPENSE BUDGET:

h.     Sales commissions and utilities are paid in the month after the month in which they are incurred.  All other expenses are paid in the month in which they are incurred.  Prepare a schedule of cash payments for selling and administrative expenses.

Please do E,F,G,H

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)