Cycle Fit Company is a manufacturer of commercial grade exercise bikes that are sold to hotels and health clubs. Maintaining the bikes is an important area of customer satisfaction. Because of increase industry​ competition, Cycle Fit​'s financial performance has suffered.​ However, the introduction of a new model and a predicted upturn in the economy are leading Cycle Fit​'s managers to predict improved performance in 2021. The following income statement shows results for 2020.

Cycle Fit Company Income Statement for the Year Ended December​ 31, 2020 ​(in thousands)

Cycle Fit​'s management team is preparing the 2021 budget and is studying the following​ information:

Question 41. Where are Peyer's patched located in the body?

QUESTION 42

1. The thymus gland increases in size as we age.

   True

   False

2 points   

QUESTION 43

1. Which type of COVID-19 antibodies are clinicians interested in detecting in recovered patients?

   		IgE.
   		IgD.
   		IgA.
   		IgG.

2 points   

QUESTION 44

1. Which type of immunity would occur from a vaccine for COVID-19 based on its genetic sequence?

   		Naturally acquired active immunity.
   		Naturally acquired passive immunity.
   		Artificially acquired active immunity.
   		Artificially acquired passive immunity.

2 points   

QUESTION 45

1. Which describes the ability of an antibody to bind pathogenic components of toxins and block its toxic effects?

   		Inflammation.
   		Opsonization.
   		Neutralization.
   		Agglutination.

2 points   

QUESTION 46

1. Which cell secrete antibodies?

   		Plasma cells.
   		T cells.
   		Dendritic cells
   		Antigen-presenting cells.

2 points   

QUESTION 47

1. All are cardinal signs of inflammation EXCEPT:

   		Swelling.
   		Heat.
   		Pain.
   		Bruising.

2 points   

QUESTION 48

1. Class II MHC molecules are only found on the surfaces of antigen-presenting cells.

   True

   False

2 points   

QUESTION 49

1. Which are a group of 30 plasma antimicrobial proteins that are activated in a series of enzymatic reactions?

   		Complement.
   		Interferons.
   		Immunoglobulins.
   		Lysozymes.

2 points   

QUESTION 50

1. Which type of cells are reduced in AIDS?

   		Helper T cells.
   		Cytotoxic T cells.
   		Memory T cells.
   		B cells.

C. Adidas Inc. had the following balance sheet on September 30, 2019 (in thousands):

Consider the following transactions that occurred during the first half of October 2019 (in thousands):

1. Inventories were acquired for cash, P160.

2. Inventories were acquired on open account, P190.

3. Unsatisfactory shoes acquired on open account in June were returned for full credit, P40.

4. Equipment of P120 was acquired for a cash downpayment of P30 plus a 6-month promissory note of P90.

5. To encourage wider displays, special store equipment was sold on account to Makati area stores for P400. The equipment had cost P400 in the preceding month.

6. Sarah G. starred in a movie and as a favor to an Adidas executive, she agreed to display Adidas shoes in a basketball scene. No fee was paid by Adidas.

7. Cash was disbursed to reduce accounts payable, P170.

8. Collected cash on account, P180.

9. Borrowed cash from a bank, P500.

10. Sold additional common stock for cash to new investors, P900.

• Prepare an analysis showing the effects of the October transactions on the financial position of Adidas.

• Prepare a balance sheet as of October 15, 2019.

Case Problem:

John invents The Night Truck, a mobile night-shop with home delivery service between 8

pm and 6 am.

We are end December 2019 and John needs your help to evaluate this project. The project could generate annual sales of 150.000 € in 2020. The sales could then increase by 10% a year. John anticipates that a new regulation as from 2024 would prevent the sales of

alcohol during the night, meaning that sales would stop on the 31st of December 2023. Cost of sales amounts to 60% of sales.

The project requires a new warehouse as well as two trucks. The initial total investment (in 2019) is estimated at 200.000 € (which can be depreciated linearly over 10 years from 2020 onwards). At the end of 2023, the initial investment could be sold for 92,300 €.

John recently travelled to New York, where the concept already exists, to study the feasibility of the project. This trip cost 5.000 € and will be paid in 2020. In 2020, accounts receivable would increase by 75,000 €, inventories by 25.000 € and accounts payable by 50.000 €. Those accounts will stay stable until 2022, with the exception of inventories which John expects to further increase by 10.000 € in 2022 to meet the increasing demand. At the end of the project, all these amounts would be recovered.

The company is subject to a tax rate of 25%. Assume that all cash flows occur at the end of the year, that the inflation rate is 0% and that the annual risk-free rate is 2% (annually compounded). The risk premium for similar projects is 6% (annually compounded).

Questions:

1) What is a sunk cost? Do you identify such cost for the project?

2) Calculate the incremental net incomes and free cash flows of the project.

3) Which discount rate should you choose to evaluate the project? How do you interpret your answer? What is the main information included in this number?

4) Calculate the NPV of this project? What would you advise to John? Why?

5) What would be the impact of this project on the company’s value (if the project is undertaken...)?

Case Problem:

John invents The Night Truck, a mobile night-shop with home delivery service between 8

pm and 6 am.

We are end December 2019 and John needs your help to evaluate this project. The project could generate annual sales of 150.000 € in 2020. The sales could then increase by 10% a year. John anticipates that a new regulation as from 2024 would prevent the sales of

alcohol during the night, meaning that sales would stop on the 31st of December 2023. Cost of sales amounts to 60% of sales.

The project requires a new warehouse as well as two trucks. The initial total investment (in 2019) is estimated at 200.000 € (which can be depreciated linearly over 10 years from 2020 onwards). At the end of 2023, the initial investment could be sold for 92,300 €.

John recently travelled to New York, where the concept already exists, to study the feasibility of the project. This trip cost 5.000 € and will be paid in 2020. In 2020, accounts receivable would increase by 75,000 €, inventories by 25.000 € and accounts payable by 50.000 €. Those accounts will stay stable until 2022, with the exception of inventories which John expects to further increase by 10.000 € in 2022 to meet the increasing demand. At the end of the project, all these amounts would be recovered.

The company is subject to a tax rate of 25%. Assume that all cash flows occur at the end of the year, that the inflation rate is 0% and that the annual risk-free rate is 2% (annually compounded). The risk premium for similar projects is 6% (annually compounded).

Questions:

1) What is a sunk cost? Do you identify such cost for the project?

2) Calculate the incremental net incomes and free cash flows of the project.

3) Which discount rate should you choose to evaluate the project? How do you interpret your answer? What is the main information included in this number?

4) Calculate the NPV of this project? What would you advise to John? Why?

5) What would be the impact of this project on the company’s value (if the project is undertaken...)?

How to evaluate the performance university????

How to evaluate the performance university????

How to Evaluate the performance of university

On May 22, 2018, for the purpose of transporting company officials to remote location, Oil & Gas Ltd. purchased a small airplane costing $120,000 and paid $20,000 for painting and lettering.

The company paid $25,000 in cash and signed a one-year notes payable for the balance.

The airplane is expected to have a useful life of 16 years or 1,500,000 kilometers, with a salvage value of $20,000.

Required

1. Calculate the cost of the airplane and prepare a journal entry

2. Compute depreciation expense for the year ended December 31, 2018, assuming the company uses the straight-line method of depreciation and prepare a journal entry
3. Compute depreciation expense for the year ended December 31, 2018, assuming the company uses the double-declining-balance method of depreciation and prepare a journal entry
4. Compute depreciation expense for the year ended December 31, 2018, assuming the company uses the units-of-production method of depreciation and that the airplane was flown 96,000 kilometers during the year and prepare a journal entry
5. During 2020, management has decided that, as a result of heavy usage, the total life of the airplane would only be 13 years instead of the original estimate of 16 years. The salvage value was expected to be $15,000 at the end of the airplane’s useful life. Revise the depreciation expense for the year ended December 31, 2020, assuming the company uses the straight-line method of depreciation, and prepare a journal entry

Case study 5:

Scenario 1:

ABC S.A.O.G was incorporated with an authorized capital of 300 million shares, ordinary shares of 500 baiza each. The company has in issue 100 million shares. On 15-january-2017 the company has repurchased 8 million shares at the rate of 3.250 each after the completion of all the requirements posed by capital market Authority-CMA. The company re issued such shares in the march 2018 @ rate of 4.000 R.O per share. The general rules set by CMA is that the company cannot repurchase more than 10% of its share capital at one time and there should be a minimum gap of 2 years between any repurchase. On 13-february-2020, the company again has repurchased 10 million shares at the rate of R.O 4.550 each.

Analyse the above situation and answer the following questions:

1. Explain in your own words impact of each repurchase on company’s share capital? Justify it with proper calculations? (1.5 marks-Min 75 words)
2. Has the company carried out the procedure of repurchase within the guidelines of CMA or not? Justify your answer with necessary data? (1.5 marks-Min 75 words)
3. What is the impact on corporation’s financial statements if all of such repurchased stock is reissued in the year 2020 @ R.O 4.000 each (2 marks-Min 100 words)