21. What is import tariff? What is the impact of proposed US tariff of steel and aluminum proposed by the US for these industries, various other industries that use these as inputs, to US consumers and overall employment?

22. How can a country attain higher economic growth? What are the potential channels of globalization that affect economic growth?

23. What are the pros and cons of globalization? How can a country prepare for it? What needs Canada to do to benefit from the globalization?

24. What has been the impact of developing countries in globalization? How has globalization affected the poverty and income inequality?

Jetta production cost in 2002 and 2003 was 14,000 Euro per Jetta. Jetta sold in US at $15,000 in 2002 and 2003. Forward hedge exchange rate was 1 $/Euro in 2003. Rate without hedge (i.e. market exchange rate) was 1.25$/Euro in 2003. If 12,000 Jetta were sold in US, in 2003, by 60% forward hedge and 40% not hedged. What would be profits or loss from sales of 12,000 Jetta in US?  

Loss of 2.4 million Euro.

Profit of 1.8 million Euro.

Loss of 2.8 million Euro

Profit of 1.2 million Euro.

Explain Reliance ltd succinctly.I bought shares of Reliance on 08/07/2015 for Rs900/ and sold it on 08/07/2020 for Rs 1812/-.Dividend received from 2015-16 was 6% , (20016-17)- 7%,(2017-18)-8%, (2018-19)-8%, (2019-2020)-6.5%.The face value of shares of Reliance is Rs100/-.Dividends received are invested every year in Bank Saving account at 4%.Find out the Discounted Cash flows over the time 2015-16 to 2019-20 and also for 2020 when shares are sold.Also determine IRR and average Return on investment.

The following information is available from ABC co.'s inventory records for March 2020.

Instructions: Compute the costs of goods sold for March 2020 using the following methods.

a) FIFO with perpetual inventory.

b) Weighted average. (Periodic system).

c) Moving average. (Perpetual system).

d) LIFO with periodic inventory.

e) LIFO with perpetual inventory.

Suppose IQ scores were obtained from randomly selected

twinstwins.

For

2020

such pairs of​ people, the linear correlation coefficient is

0.8670.867

and the equation of the regression line is

ModifyingAbove y with caret equals 5.44 plus 0.93 xy=5.44+0.93x​,

where x represents the IQ score of the

twin born secondtwin born second.

​Also, the

2020

x values have a mean of

96.2696.26

and the

2020

y values have a mean of

94.9594.95.

What is the best predicted IQ of the

twin born firsttwin born first​,

given that the

twin born secondtwin born second

has an IQ of

9494​?

Use a significance level of 0.05

The following account balances are taken from Sherwood Ltd.’s adjusted trial balance at June 30, 2020:

Prepare a single-step statement of income for the year ended June 30, 2020.

.

.

.

Prepare a multi-step statement of income for the year ended June 30, 2020.

On the 1st March 2019, Concept Limited purchased printing equipment costing $186,000 by issuing a 5 year, 4% unsecured note payable. The note requires $42,000 annual principal repayments plus interest each 1st March. Journalise the transactions to account for the acquisition of equipment. (Remember to allocate the current and non-current portions of the liability) Accrue interest on the note payable at the 31st December, 2019. Record the payment of the first instalment (including interest) of the note payable on 1st March, 2020 and then accrue interest as at 31st December, 2020. Prepare an excerpt from the Balance Sheet as at 31st December, 2020 showing liabilities.

Calculation of current and deferred tax, and adjustment entry

The profit before tax, as reported in the statement of profit and loss for Adeline Ltd for the year ended 30 June 2021, amounted to $100 000, including the following revenue and expense items.

The statement of profit and loss for Adeline Ltd for the year ended 30 June 2021 also included a gain on sale of equipment of $10 000. According to AASB 116/IAS 16, this gain is not classified as revenue, but it is nevertheless part of the accounting profit before tax for the year. The draft statements of financial position of Adeline Ltd at 30 June 2020 and 30 June 2021 showed the following assets and liabilities.

Additional information

In the year ended 30 June 2020, Adeline Ltd had a tax loss of $65 000 that it carried over in the deferred tax asset. In June 2021, the company received an amended assessment for the year ended 30 June 2020 from the ATO, indicating that an amount of $5000 claimed as a deduction has been disallowed. Adeline Ltd has not yet adjusted its accounts to reflect the amendment.

Amounts received from sales, including those on credit terms, are taxed at the time the sale is made. All other general taxation rules apply.

The movement in the equipment account is caused by the sale of the equipment on 1 March 2021 for which a gain on sale of $10 000 was recognised as part of the profit before tax (see above). Adeline Ltd had purchased the equipment on 1 July 2019 (with an estimated useful life of 2 years and no residual value) and for taxation purposes it claimed its full cost as a deduction at 30 June 2020.

The plant is depreciated on a straight?line basis over 10 years for accounting purposes, but over 5 years for taxation purposes. The plant is not expected to have any residual value.

All research and development expenses were paid in cash during the year ended 30 June 2021.

The company tax rate is assumed to be 30% for the year ended 30 June 2020 and 28% for the year ended 30 June 2021. The balances of the deferred tax accounts at 30 June 2020 are still reflecting the 30% tax rate.

Required

1. Prepare the current tax worksheet and the journal entry to recognise current tax at 30 June 2021.

2. Prepare the deferred tax worksheet and journal entries to adjust deferred tax accounts.

At December 31, 2017, Cord Company's plant asset and accumulated depreciation and amortization accounts had balances as follows:

Depreciation methods and useful lives:
Buildings—150% declining balance; 25 years.
Machinery and equipment—Straight line; 10 years.
Automobiles and trucks—150% declining balance; 5 years, all acquired after 2014.
Leasehold improvements—Straight line.
Land improvements—Straight line.

Depreciation is computed to the nearest month and residual values are immaterial. Transactions during 2018 and other information:

a.On January 6, 2018, a plant facility consisting of land and building was acquired from King Corp. in exchange for 34,000 shares of Cord's common stock. On this date, Cord's stock had a fair value of $50 a share. Current assessed values of land and building for property tax purposes are $210,000 and $630,000, respectively.

b.On March 25, 2018, new parking lots, streets, and sidewalks at the acquired plant facility were completed at a total cost of $246,000. These expenditures had an estimated useful life of 12 years.

c.The leasehold improvements were completed on December 31, 2014, and had an estimated useful life of eight years. The related lease, which would terminate on December 31, 2020, was renewable for an additional four-year term. On April 30, 2018, Cord exercised the renewal option.

d.On July 1, 2018, machinery and equipment were purchased at a total invoice cost of $334,000. Additional costs of $10,000 for delivery and $59,000 for installation were incurred.

e.On August 30, 2018, Cord purchased a new automobile for $13,400.

f.On September 30, 2018, a truck with a cost of $24,900 and a book value of $10,800 on date of sale was sold for $12,400. Depreciation for the nine months ended September 30, 2018, was $2,430.

g.On December 20, 2018, a machine with a cost of $21,500 and a book value of $3,200 at date of disposition was scrapped without cash recovery.

Required:

1. Prepare a schedule analyzing the changes in each of the plant asset accounts during 2018. Do not analyze changes in accumulated depreciation and amortization.
2. For each asset category, prepare a schedule showing depreciation or amortization expense for the year ended December 31, 2018