In December 20.8, Finch Limited was planning its financial needs for the coming year.

As a first indication, the firm’s management required a pro forma Statement of Financial Position as at 31 December 20.9 to gauge the financial needs at that time.

Estimated financial condition as at 31 December 20.8 was reflected in this Statement of Financial Position :

Additional information

Note : Please show all workings

Operations for the following year were projected using the following working assumptions to plan the financial results:

• Sales (all credit) were forecast at R20 900 000, with a gross margin of 8.2%.

• Purchases (all credit) are expected to total R19 450 000.

• Accounts receivable would be based on a collection period of 12 days, while 24 days accounts payable

  would be outstanding.

• Depreciation is expected to be R62 800 for the year.

• A mortgage loan repayment of R20 000 is expected to be made.

• Other current liabilities will be allowed to fluctuate with seasonal needs.

• Capital expenditures were scheduled at R42 000 for a delivery van and R72 000 for warehouse

  improvements.

• Profit after tax is expected at a level of 0.19% of sales.

• Dividends for the year were scheduled at R25 000.

• Cash balances are desired to be no less than R300 000.

Use Matlab to write the following

1. Write code to determine whether a year is a leap year. Use the mod function. The rules for determining leap years in the Gregorian calendar are as follows:

All years evenly divisible by 400 are leap years.

Years evenly divisible by 100, but not by 400, are not leap years.

Years divisible by 4, but not by 100, are leap years.

All other years are not leap years.

For example, the years 1800, 1900, 2100, 2300 and 2500 are not leap years, but 2400 is a leap year.

2. Solve the following:

a. Use a for loop to determine the sum of the first 10 terms in the series 5k³, where k=1,2,3,...,10. Report your answer to the Command Window.

b. Repeat part (a) without using a loop.

A company had an increase in interest payable during the year and also amortized discount on bonds payable. Under the direct method, the amount of interest paid during the year to be reflected in the statement of cash flows is

a) interest expense plus the increase in interest payable minus the discount amortization

b) interest expense plus the increase in interest payable plus the discount amortization

c) interest expense minus the increase in interest payable plus the discount amortization

d) interest expense minus the increase in interest payable minus the discount amortization

The net income reported on the income statement for the current year was $121,600. Depreciation recorded on store equipment for the year amounted to $20,100. Balances of the current asset and current liability accounts at the beginning and end of the year are as follows:

a. Prepare the Cash Flows from Operating Activities section of the statement of cash flows, using the indirect method. Use the minus sign to indicate cash out flows, cash payments, decreases in cash, or any negative adjustments.

b. Cash flows from operating activities differs from net income because it does not use the (Actual basis/cash basis)of accounting. For example, revenues are recorded on the income statement when (They are earned/cash is received)  

The mean selling price of senior condominium in Green Valley over a year was $215,000. The population standard deviation was $25,000. A random sample of 100 new unit sales was obtained

a. What is the probability that the sample mean selling price was more than $210,000?

b. What is the probability that the sample mean selling price was between $213,000 and $217,000?

c. What is the probability that the sample mean selling price was between $214,000 and $216,000?

d. Without doing the calculations, state in which of the following ranges the sample mean is most likely to lie: $213,000–$215,000; $214,000–$216,000; $215,000–$217,000, or $216,000–$218,000.

e. Suppose that, after you had done these calculations, a friend asserted that the population distribution of selling prices of senior condominiums in Green Valley was almost certainly not normal. How would you respond?

Thomlin Company forecasts that total overhead for the current year will be $12,464,000 with 152,000 total machine hours. Year to date, the actual overhead is $8,299,800, and the actual machine hours are 95,400 hours. If Thomlin Company uses a predetermined overhead rate based on machine hours for applying overhead, as of this point in time (year to date), the overhead is

a.$283,000 underapplied

b.$477,000 overapplied

c.$283,000 overapplied

d.$477,000 underapplied

For a certain year a study reports that the percentage of college students using credit cards was 87%. A college dean of student services claims that this is too high for her university, so she randomly selects 50 students and finds that 40 of them use credit cards. At  = 0.10 is she correct?

State:__________________________________ CV: use table E, F, G, CV=___________________ TV: z, t, or 2  (circle one), TV=________________ Decide:________________________________ Summary: (remember to circle the correct description before completing the statement) There is/is not enough evidence to reject/support the claim that______________________ ________________________________________________________________________ _______________________________________________________________________

The records of Alaska Company provide the following information for the year ended December 31. At Cost At Retail January 1 beginning inventory $ 473,150 $ 928,950 Cost of goods purchased 2,699,294 6,281,150 Sales 5,513,700 Sales returns 46,400 Required: 1. Use the retail inventory method to estimate the company’s year-end inventory at cost. 2. A year-end physical inventory at retail prices yields a total inventory of $1,693,800. Prepare a calculation showing the company’s loss from shrinkage at cost and at retail.

Tailor​ Johnson, a U.S. maker of fine​ menswear, has a subsidiary in Ethiopia. This​ year, the subsidiary reported and repatriated earnings before interest and taxes​ (EBIT) of 195 million Ethiopian birrs. The current exchange rate is 9.8039 ​birrs/dollar or Upper S equals $ 0.1020 divided by birrS=$0.1020/birr. The Ethiopian tax rate on this activity is 27%. U.S. tax law requires Tailor Johnson to pay taxes on the Ethiopian earnings at the same rate as on profits earned in the United​ States, which is currently 43%. ​However, the United States gives a full tax credit for foreign taxes paid up to the amount of the U.S. tax liability. What is Tailor​ Johnson's U.S. tax liability on its Ethiopian​ subsidiary?

Tailor​ Johnson's U.S. tax liability on its Ethiopian subsidiary is $_______million. ​ (Round to two decimal​ places.)