Assume the following: This is a large conglomerate company with over 30 divisions and over 24,000 employees, but the company might be in financial trouble. Company divisions are so different that EVERY type of benefit / retirement plan is available to all employees.
Scenario 1
Married individual with young children at entry level position
Scenario 2
Mid-level manager with grown children seeking a long career and a comfortable retirement
Scenario 3
Top executive nearing retirement and hired to solve financial difficulties.
ADVISE each of your three clients on the following:
Compensation
Equity Options
Deferred Compensation (both qualified and nonqualified plans are available)
Health and Disability
Life Insurance
Fringe Benefits
In: Finance
Scenario 1:
Paul is working for himself as a mechanic under the business name “Paul’s transport services”. He forms a small proprietary company called “P & M Pty Ltd” with himself and his wife Milli as its only directors and equal shareholders. He sells the business and its assets (tempo and a truck and some equipments)to the company for $100,000 and the company pays this full amount to Paul immediately.
The company takes out Workers Compensation for Paul. Although the tempo was insured in Paul’s name with AMP Insurance Co. when it was sold to the company, the insurance policy was not transferred into the company name, nor did the company take out its own insurance policy.
Based on above case scenario and answer the following questions:
HINTS: A company, once registered, is a separate legal entity, separate from its participants. Section 124 of the Corporations Act 2001 gives a company the same capacity and powers of an individual together with such powers that may be exercised by a body corporate, power to acquire, own or dispose of property.
In: Accounting
Sickle cell anemia is inherited as an autosomal, recessive disorder. Individuals who inherit the mutated gene from both parents will show symptoms of sickle cell, including a stiffening of the red blood cells when the individual is under conditions with low oxygen levels in the air (e.g. on top of a mountain). This can lead to low red blood cell count (anemia), shortness of breath, fatigue, jaundice, and joint pain. Most critically, the stiffened red blood cells can clog small blood vessels, blocking blood flow to critical organs (e.g. brain, lungs, liver, etc.) that can lead to death. Curiously, heterozygous carriers have a certain amount of resistance to malaria. The malaria parasite must invade red blood cells in order to develop and apparently the cell surface is altered in heterozygous individuals, thereby limiting the ability of the malaria parasite to enter the red blood cells. Recall that the rules for autosomal recessive diseases are that only the homozygous recessive individuals experience the symptoms of sickle cell anemia.
C. Determine the results of a mating between two parents that are both heterozygous for sickle cell anemia.
In: Anatomy and Physiology
Express Comfy Co. operates an airline business since few years ago. The company’s year-end is 31 December of each year. You are the Engagement partner in charge and you have started planning the audit. You are setting a meeting with the client to identify any relevant audit risks. From your meeting you came across the following: In order to expand their flight network, Express Comfy Co will need to acquire more aeroplanes; they have placed orders for another six planes at an estimated total cost of QR70 millions and the company’s CEO has requested from the procurement director to handle this matter. Accordingly, the Procurement Director assigned Mr. Hamad ALKaaby to handle this transaction. Due to his prolonged experience and the trust the company is having in Mr Hamad, the Procurement Director has delegated all power and authority to Mr Hamad with no need to return back to him during the processing of this transaction. Mr. Hamad is now the one communicating with the vendors (suppliers), preparing the invoices, following up on things, and he is the one to check the fleet of planes when they arrive to ensure they meet the quality standards set by the company. 3 In addition, the company has spent an estimated QR50 millions on refurbishing (restoring) their existing planes. In order to fund the expansion, the Finance Department has applied for a loan of QR80 millions. It has yet to hear from the bank as to whether it will lend them the money. Notably, the CFO of the company has assigned four accountants from the finance department to handle the processing of this loan request. Four accountants have been assigned due to the fact that Ms. Reem Almansoury, the Chief Internal Auditor of the company, is currently on vacation and one of these four accountants has been asked to cover for her during her absence. The company receives bookings from travel agents as well as from individuals directly via their website. The travel agents are given a 90-day credit period to pay Express Comfy Co, however, due to difficult trading conditions a number of the receivables (travel agents) are struggling to pay. Furthermore, and due to the complexity of the online transactions, Engineer Ahmed El-Sabbahy has been assigned to handle these transactions, who in turn is responsible for all the online transactions with no other control procedures to protect the company from any sort of errors and/or fraud. Worth noting too, the website was launched few months ago and has consistently encountered difficulties with customer complaints that tickets have been booked and paid for online but Express Comfy Co has no documented record of them and hence has sold the seat to another customer. For this reason, the company is currently in communication with an external expert IT company to look into this issue.
2. Outline the members of the audit team who are expected to audit the records of East Comfy highlighting the role played by each of these members.
3. Outline the steps involved in the audit cycle as well as the audit strategy and relate these to East Comfy.
In: Accounting
Alexis Mohamed opened Beachy-Kleen Cleaning Service on July 1, 2019. During July, the company completed the following transactions: |
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| July | 1 | Owner Alexis Mohamed invested $35,000 cash and $7,865 of cleaning equipment in the business. | |||||||||||||||||||||||||||||||||||||||||||||
| 1 | Purchased a used truck for $12,500, paying $2,500 cash and the balance on account. | ||||||||||||||||||||||||||||||||||||||||||||||
| 3 | Purchased cleaning supplies for $1,973 on account. | ||||||||||||||||||||||||||||||||||||||||||||||
| 5 | Paid $1,800 on a one-year insurance policy, effective July 1. | ||||||||||||||||||||||||||||||||||||||||||||||
| 12 | Billed customers $3,927 for cleaning services. | ||||||||||||||||||||||||||||||||||||||||||||||
| 15 | Received $1,875 from customers for future cleaning services. | ||||||||||||||||||||||||||||||||||||||||||||||
| 18 | Paid $3,000 of amount owed on truck. | ||||||||||||||||||||||||||||||||||||||||||||||
| 20 | Paid $765 for employee salaries. | ||||||||||||||||||||||||||||||||||||||||||||||
| 21 | Collected $2,540 from customers billed on July 12. | ||||||||||||||||||||||||||||||||||||||||||||||
| 25 | Billed customers $5,750 for cleaning services. | ||||||||||||||||||||||||||||||||||||||||||||||
| 31 | Paid gasoline for the month on the truck, $287. | ||||||||||||||||||||||||||||||||||||||||||||||
| 31 | Owner Alexis Mohamed withdrew $1,200 for personal use. | ||||||||||||||||||||||||||||||||||||||||||||||
| Adjustments: | |||||||||||||||||||||||||||||||||||||||||||||||
| July | 31 | Earned but unbilled fees at July 31 were $1,936. | |||||||||||||||||||||||||||||||||||||||||||||
| Depreciation on truck for the month was $225. | |||||||||||||||||||||||||||||||||||||||||||||||
| Earned $475 of payment received on July 15. | |||||||||||||||||||||||||||||||||||||||||||||||
| One-twelfth of the insurance expired. | |||||||||||||||||||||||||||||||||||||||||||||||
| An inventory count shows $492 of cleaning supplies on hand at July 31. | |||||||||||||||||||||||||||||||||||||||||||||||
| Accrued but unpaid employee salaries were $469. | |||||||||||||||||||||||||||||||||||||||||||||||
In: Accounting
Ratios:
Current Ratio: 3.6093
Quick Ratio: 2.1799
Times Interest Earned: 9.9143
ROE 16.48%
ROA 12.01%
Equity Multiplier 1.3714
Inventory Turnover 1.3489
The P/E (Price/Earnings) Ratio is defined as: P/E ratio = Price per Common Share / Net Income per Common Share.
Which of the following statements are true with respect to the P/E Ratio?
Select one:
a. A P/E Ratio of 15 would tell us that each Common Stock is selling for 15 times the Net Income per common share
b. If you were an investor buying a Common Stock, you would hope that the P/E Ratio would go down after you purchased the shares.
c. If the firm’s Net Income per Common Share remained the same but the P/E Ratio went down, the firm’s stock price per Common Share would go up
d. All of the above statements are true
e. None of the above statements are true.
In: Finance
Write an abstract/brief summary of the Economic and Social Cost of the Opioid Crisis in the US. Provide some data/research about this problem. Please write as much as you can and don't copy everything from the internet.
In: Economics
▪ Research and describe how information and communication technologies are playing a vital role during COVID-19 pandemic in enabling many of us to carry out our regular duties from the comfort of our homes.
In: Operations Management
economic history
Discuss the westward expansion and the impact on Native Americans. How has this expansion impacted the US today? What is the influence on institutions and laws that came from the removal of the Native Americans? about 3 paragraphs
In: Economics
1)“Race has been a social construction that has allowed US to set apart racial minorities from European immigrants” (9). Explain how this adds to social construction. Give examples. Agree? Disagree?
In: Psychology