The following data were taken from the books of Powell Construction Ltd:

REQUIRED:

Prepare in the general ledger of Powell Construction Ltd for the month of August 2020:

a.       the Sales Ledger Control Account            (15 marks)

b.      Purchases Ledger Control Account            

Total 25 marks

Total Solution Ltd. is rendering its service on Network Solution to two types of customers: Company and Household. It categorised its operating department into: Company-Service and Household Service. Total Solution Ltd. also has two support departments: Administration (Admin) and Technician (Tech). Each of the operating departments conducts its operations independently. Total Solution Ltd. uses the number of technician’s hours used to allocate Tech costs and the number of admin staff used to allocate Admin costs. The following data are available for May 2020. Support Departments Operating Departments Admin Tech Company Household Budgeted costs $1,355,000 $3,200,000 $5,000,000 $4,000,000 Budgeted processing time (in min) 1,000 --- 1,600 2,400 Number of employees --- 15 9 36 Required (show your workings): Allocate the cost from support department to operating department and determine the total budgeted cost of each operating department after the cost has been allocated from the support department using the following method:

(a) Direct method

(b) Step-down method if the support department with highest dollar amount is allocated first. (c) Reciprocal method (using linear equation)

Suppose you are considering purchasing RadRover 5, the electric fat bike of the year 2020, that retails at a price of $1600. The bike dealer offers you the following financing scheme. Pay $600 as down payment today and finance the remainder $1000 from the dealer at 200% EAR, with daily compounding. You are required to repay the amount financed in 30 equal daily payments starting tomorrow. The scheme also comes with an option to “extinguish” the loan anytime during the next month by repaying the outstanding balance at the start of a day in one lump sum payment.

      A) What is the daily payment amount that you will have to pay to the dealer?

   B) Your elder brother has agreed to help you extinguish the loan if you can demonstrate to him that you can make regular loan payments for at least 4 consecutive days. How much will it cost your brother to extinguish the loan at the start of day 5 if you have already made first of your 4 daily payments.

C) How much profit (at the end of next month) would the dealer make over and above the $1600 retail price if you made all the promised payments?

Bramble Corporation operates a retail computer store. To improve delivery services to customers, the company purchases four new trucks on April 1, 2020. The terms of acquisition for each truck are described below.

Prepare the appropriate journal entries for the above transactions for Bramble Corporation.

thanks!

My dream home is a 5 bedroom, 6 bath bay front villa in Miami Beach, Florida. Its recent listed price was $19,900,000 as of November of 2019. I would put down $3,980,000 as my 20% down payment, leaving me with a remaining balance of $15,920,000. Using the 30 year fixed rate from FRED,my interest rate was 3.3% and the total interest rate paid over the term of the loan is $9,274,875.43 with monthly payments of $69,985,77

If my down payment were to decrease to 10%, my monthly payments would be $78437.78, which is over 8 thousand dollars more than with a 20% down payment. If i paid a 30% down payment, monthly payments would be $61,007.16 and total interest $8,032578.22. These numbers tell me that the down payment has a major impact on my monthly mortgage payments.

If the interest rate decreased to 2.3% , monthly payments would be $61,260.37 which is a significant decrease from having a 3.3% interest rate. If i change the term of the loan from a 30 to a 15 year term, monthly payments would be $112,252 and total interest over the term of the loan would be 4,285,385.95, which is significantly less than what I would pay on a 30 year loan if I am able and willing to pay much higher monthly payments.

The down payment played the biggest role in the total amount paid on the loan and is an important factor in determining the monthly payment amounts. I would definitely try to put as much down as I can on a down payment to decrease future mortgage payments. Even if a potential dream home has unfavorable interest rates, putting more money down would help decrease my monthly payments and interest rates.

Required:

Provide feedback on the above financing method (even the property). Are there any similarities or differences in the above response compared to your own?

You own shares of the Nuveen Floating Rate Income Fund (ticker: JFR), which is a closed-end fund. You want to sell your shares. Which statement below applies to your situation?

Group of answer choices

Nuveen only accepts returns of shares if they are proven to be defective

Y must hold your shares because they have not yet matured

You must sell your shares to another investor

You may redeem your shares directly from Nuveen

The primary difference between a balanced fund and an asset allocation is:

Group of answer choices

that an asset allocation fund invests in a mix of stocks and bonds, while a balanced fund does not.

that a balanced fund's asset mix is roughly static while an asset allocation fund is dynamic over time.

that an asset allocation fund's asset mix is roughly static while a balanced fund is dynamic over time.

that a balanced fund invests in a mix of stocks and bonds, while an asset allocation fund does not.

Consider the closed economy Classical model depicted below, where consumption depends positively on disposable income and negatively on the real interest rate.

1) Suppose the government decides to reduce the overall level of taxes. What happens to public savings (Spublic), private savings (Sprivate), and total savings (S)?.

2) ) According to the Classical model, what are the long-run implications of the above change on the real interest rate (r), output (Y), and the expenditure components of output consumption (C), investment (I), and government expenditure (G))?

Explain what happens to saving, investment, and the real interest rate in each of the following scenarios in a closed economy. Illustrate your answer using a saving-investment diagram. Label the axes and curves clearly.

a) Real money supply increases

b) The tax code changes so that business firms face higher tax rates on their revenue (offset by other lump-sum tax changes so there’s no overall change in tax revenue). The rise in taxes reduces desired investment, shifting the Id curve to the left: in equilibrium, this reduce real interest rate, reducing saving as well as investment.

c) Current output rises The rise in output raises desired saving, shifting the Sd curve to the right; in equilibrium, this reduces the real interest rate, increasing investment as well.

d) The average educational level rises, inducing an increase in the future marginal productivity of capital. The rise in future marginal productivity of capital raises desired investment, shifting the Id curve to the right; in equilibrium, this raises the real interest rate, increasing saving as well as investment. 

8) Which of the following reactions with covalently closed, circular double stranded DNA (ccc dsDNA) does NOT result in a new linking number? Select one choice from the list below (A-D) and explain your answer.

A. incubation with a type I topoisomerase

B. incubation with a type II topoisomerase

C. incubation with ethidium bromide

D. a brief incubation with DNase I followed by resealing the breaks in the phosphodiester backbone with another enzyme (DNA ligase)