Very few of us like to pay taxes, but the concept of taxation precedes all of us. There are a number of verses and parables about tax collection, such as Luke 3:11-16: "He answered and said unto them. He that has two coats let him impart to him that has none; and he that has food, let him do likewise" (King James 2000 Bible). Using any verse or parable from the Bible, compare and contrast the modern tax system with that from biblical times.
Please be original NO COPY AND PASTE.
In: Accounting
what are the multi-step process involving the methods the Federal Reserve Bank will undertake to create the $1,200 stimulus checks? Take us through all of the steps of the process, from the Congress approving a federal expenditure with no tax increase, until the public’s possession of the newly printed money. Include all of the steps that must be undertaken by both the Federal Reserve Bank and by the US Treasury for this money supply expansion to go from start to finish. Do not skip any necessary steps in the process; keep explaining all government steps until you have the new money.
In: Economics
What practical application can we expect from particle physics a century or two from now? What use can we make of quark-gluon plasmas or strange quarks? How can we harness W- and Z-bosons or the Higgs boson? Nuclear physics has given us nuclear plants and the promise of fusion power in the near future. What about particle physics? If we extend our timeframe, what promise does string theory give us? Can we make use of black holes?
In: Physics
Sarah (single) purchased a home on January 1, 2008, for $600,000. She eventually sold the home for $800,000. What amount of the $200,000 gain on the sale does Sarah recognize in each of the following alternative situations? (Assume accumulated depreciation on the home is $0 at the time of the sale.) (Leave no answer blank. Enter zero if applicable.)
b. Sarah used the property as a vacation home through December 31, 2016. She then used the home as her principal residence from January 1, 2017, until she sold it on January 1, 2020. (Round intermediate percentage computation to 2 decimal places.)
c. Sarah used the home as a vacation home from January 1, 2008, until January 1, 2019. She used the home as her principal residence from January 1, 2019, until she sold it on January 1, 2020.
d. Sarah used the home as a vacation home from January 1, 2008, through December 31, 2013. She used the home as her principal residence from January 1, 2014, until she sold it on January 1, 2020. (Round intermediate percentage computation to 2 decimal places.)
In: Accounting
Which is the optimal return combination for both the US/UK and US Spain?
| US | UK | SPAIN | CH13 | INTERNATIONAL PORTFOLIO DIVERSIFICATION ANALYSIS | |||||||||
| ER | 15% | 12% | 5% | DEVELOPED VS EMERGING MARKET DIVERSIFICATION | |||||||||
| STD | 10% | 9% | 4% | CAN-β= | CAN$ rose by | COL Peso fell by | |||||||
| CORR | 1 | 0.33 | 0.06 | COL-β= | US&CAN* $Ret= | US&COL* $Ret | |||||||
| CV | 1.5 | 1.3333 | 1.25 | ||||||||||
| Weights | W1 | 100% | 90% | 80% | 70% | 60% | 50% | 40% | 30% | 20% | 10% | 0% | |
| W2 | 0% | 10% | 20% | 30% | 40% | 50% | 60% | 70% | 80% | 90% | 100% | ||
| US&UK | ER | 15.00% | 14.70% | 14.40% | 14.10% | 13.80% | 13.50% | 13.20% | 12.90% | 12.60% | 12.30% | 12.00% | |
| STD | 10.0% | 9.34% | 8.76% | 8.29% | 7.95% | 7.75% | 7.71% | 7.82% | 8.08% | 8.48% | 9.00% | ||
| US&SPAIN | ER | 15.00% | 14.00% | 13.00% | 12.00% | 11.00% | 10.00% | 9.00% | 8.00% | 7.00% | 6.00% | 5.00% | |
| STD | 10.00% | 9.03% | 8.09% | 7.17% | 6.30% | 5.50% | 4.79% | 4.22% | 3.87% | 3.79% | 4.00% | ||
In: Finance
US Billions USD
Increase in foreign holdings of US assets 84
Increase in US holdings of foreign assets 82
Statistical Discrepancy 32
Current Account Balance
Refer to the above table. The Current Account Balance =
In: Economics
Question: Evaluation of an auditor’s report.
Mrs Meyer is a director of an international firm of external
auditors and works in the Auckland office. Mrs Meyer is the
engagement partner on the audit of CountSave Foods Ltd, a company
listed on the NZX. The audit team completed the audit for the year
ended 31 March 2020 and the audit senior prepared the following
draft audit report.
Auditor’s report
CountSave Foods Ltd
Opinion
We have audited the financial statements set out on pages 12 – 40,
which comprise the statement of financial position as at 31 March
2020, and the statement of profit or loss for the year and glanced
through the cash flow statement then ended and the notes to the
financial statements.
In our opinion, except for the possible effect of the matter
described in our report, the financial statements present fairly,
in all material respects the financial position of CountSave Foods
Ltd as at 31 March 2020, and its financial performance and cash
flows for the year then ended in accordance with the International
Financial Reporting Standards
Other information
The other information comprises the Director’s report as required
under the NZ Companies Act In connection with our audit of the
financial statements, if based on the work we have performed, we
conclude that there is a material misstatement of this other
information; we are required to report that fact.
Basis for opinion
Included in accounts payable is an amount of $15 million. The
company did not have adequate controls to maintain records of
accounts payable for goods and services received but not paid. We
are unable to obtain sufficient and appropriate audit evidence to
substantiate the accruals disclosed in note 28 to the financial
statements. As a result, we are unable to determine whether any
adjustments were required to the financial statements arising from
the accounts payable and accruals not brought to account or
incorrectly stated
We conducted our audit in accordance with the international
Standards of Auditing
In: Accounting
The management of Nash Instrument Company had concluded, with
the concurrence of its independent auditors, that results of
operations would be more fairly presented if Nash changed its
method of pricing inventory from last-in, first-out (LIFO) to
average-cost in 2020. Given below is the 5-year summary of income
under LIFO and a schedule of what the inventories would be if
stated on the average-cost method.
|
NASH INSTRUMENT COMPANY |
|||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|
2016 |
2017 |
2018 |
2019 |
2020 |
|||||||||||
|
Sales—net |
$14,080 | $15,420 | $16,530 | $18,390 | $19,030 | ||||||||||
|
Cost of goods sold |
|||||||||||||||
|
Beginning inventory |
990 | 1,100 | 990 | 1,120 | 1,230 | ||||||||||
|
Purchases |
12,910 | 13,810 | 15,100 | 15,740 | 17,598 | ||||||||||
|
Ending inventory |
(1,100) | (990) | (1,120) | (1,230) | (1,380) | ||||||||||
|
Total |
12,800 | 13,920 | 14,970 | 15,630 | 17,448 | ||||||||||
|
Gross profit |
1,280 | 1,500 | 1,560 | 2,760 | 1,582 | ||||||||||
|
Administrative expenses |
700 | 760 | 830 | 910 | 1,000 | ||||||||||
|
Income before taxes |
580 | 740 | 730 | 1,850 | 582 | ||||||||||
|
Income taxes (50%) |
290 | 370 | 365 | 925 | 291 | ||||||||||
|
Net income |
290 | 370 | 365 | 925 | 291 | ||||||||||
|
Retained earnings—beginning |
1,200 | 1,490 | 1,860 | 2,225 | 3,150 | ||||||||||
|
Retained earnings—ending |
$1,490 | $1,860 | $2,225 | $3,150 | $3,441 | ||||||||||
|
Earnings per share |
$2.90 | $3.70 | $3.65 | $9.25 | $2.91 | ||||||||||
|
SCHEDULE OF INVENTORY BALANCES USING AVERAGE-COST
METHOD |
||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
|
2015 |
2016 |
2017 |
2018 |
2019 |
2020 |
|||||
| $1,000 | $1,120 | $1,100 | $1,280 | $1,490 | $1,720 | |||||
Prepare comparative statements for the 5 years, assuming that Nash changed its method of inventory pricing to average-cost. Indicate the effects on net income and earnings per share for the years involved. Nash Instruments started business in 2015. Assume that the number of shares outsanding is 100.
In: Accounting
In: Statistics and Probability
1. Based on historical data, your manager believes that 31% of
the company's orders come from first-time customers. A random
sample of 146 orders will be used to estimate the proportion of
first-time-customers. What is the probability that the sample
proportion is greater than than 0.22?
Note: You should carefully round any z-values you calculate to 4
decimal places to match wamap's approach and calculations.
2. Business Weekly conducted a survey of graduates from 30 top
MBA programs. On the basis of the survey, assume the mean annual
salary for graduates 10 years after graduation is 157000 dollars.
Assume the standard deviation is 39000 dollars. Suppose you take a
simple random sample of 84 graduates.
Find the probability that a single randomly selected salary is less
than 160000 dollars.
Answer =
Find the probability that a sample of size n=84 n=84 is randomly
selected with a mean that is less than 160000 dollars.
Answer =
Enter your answers as numbers accurate to 4 decimal places.
In: Statistics and Probability