Mr Ahmed Kumar runs a snack distribution business located in the Light Industrial area in Lusaka. The following list of balances was extracted from his ledger as at 31 March, 2020; the end of his most recent financial year.
K
Capital 83,887
Sales 259,870
Trade accounts payable 19,840
Returns outwards 13,407
Allowance for doubtful debts 512
Discounts allowed 2,306
Discounts received 1,750
Purchases 135,680
Returns inwards 5,624
Carriage outwards 4,562
Drawings 18,440
Carriage inwards 11,830
Rent, rates and insurance 25,973
Heating and lighting 11,010
Postage, stationery and telephone 2,410
Advertising 5,980
Salaries and wages 38,521
Bad debts 2,008
Cash in hand 534
Cash at bank 4,440
Inventory as at 1st April 2019 15,654
Trade accounts receivable 24,500
Fixtures and fittings - at cost 120,740
Prov. for depreciation on fixtures and fittings – 31/03/2020 63,020
Depreciation 12,074
The following additional information as at 31st March, 2020 is available:
(a) Inventory at the close of business was valued at K17,750
(b) Insurances have been prepaid by K1,120
(c) Heating and lighting is accrued by K1,360
(d) Rates have been prepaid by K5,435
(e) The allowance for doubtful debts is to be adjusted so that it is 3% of trade accounts receivable.
Required:
For the year 2020, prepare Mr Kumar’s:
[10 Marks]
[10 Marks]
[10 Marks]
[10 Marks]
[Total: 40 Marks]
In: Accounting
A firm wants to finance an investment that would produce an annual EBIT of $415,000 by issuing 850 ten-year zero-coupon bonds (each with $1,000 face value) that will be charged a market interest rate of 8%. Suppose the bonds will be issued on January 1, 2020 and will mature on December 31, 2029.
Assume EBIT is constant over time at $415,000 and the tax rate is 35%. Shown below are income statement templates for the years 2020 and 2029. You do not have to fill these in for credit on the exam, however, feel free to use them as guides for determining how the choice of financing will affect the firm's tax liability for these years. Specifically, determine
a) How much the firm saves in taxes in 2020 and how much the firm saves in taxes in 2029 by having this 10-year bond on its books (relative to the case without any borrowing)? (Don't worry about discounting these tax savings back to the present, just consider the nominal dollar amounts.)
b) How much the firm saves in taxes in 2020 and 2029 in present value terms by having this 10-year bond on its books (again, relative to the case without any borrowing). Assume that January 1, 2020 is the "present," the discount rate is 8%, and the taxes would be paid on December 31 of the statement year.
Income statement for 2020 (Jan 1 - Dec 31, 2020)
| With the bond | Without the bond | |
| EBIT | $415,000.00 | $415,000.00 |
| Interest | ||
| Pre-tax Income | ||
| Taxes at 35% | ||
| Net Income |
Income statement for 2029 (Jan 1 - Dec 31, 2029)
| With the bond | Without the bond | |
| EBIT | $415,000.00 | $415,000.00 |
| Interest | ||
| Pre-tax Income | ||
| Taxes at 35% | ||
| Net Income |
In: Finance
Activity description
A program must be carried out in MATLAB or OCTAVE that acquires and analyzes (continuously or online) the voice signal that is acquired from the sound card of the PC (microphone input) or a signal that is acquired with an acquisition card of data (ex. NI DAQCard).
The program must continuously perform the functions: signal acquisition, spectral analysis of the acquired signal, graphs in the time domain and graphs in the frequency domain (magnitude and phase spectrum).
The program should display the following graphs:
1) Original signal in the time domain
2) Original signal in the frequency domain (magnitude and phase)
Program 1: Initially do not acquire the signal from the PC sound card, instead create a synthetic signal in the MATLAB workspace, for example a signal composed of the sum of two or more sinusoids of different amplitude, frequency and phase . The signal must be visualized in time (oscillations) and the frequency analysis (magnitude spectrum) must show the presence of the original frequencies. It is important to assume a certain sampling frequency and a duration of the synthetic signal.
Program 2: After this works, start with a static version of the voice signal analyzer (ie the input signal is only a defined time window, for example three seconds), i.e. program 2 is an improved version of program version 1 where instead of a synthetic signal the signal that is acquired with the sound card is used in a time range of for example 3s. Note that this frequency is acquired at a certain sampling frequency. Finally, make the necessary adaptations and changes to the version 1 program so that it works online or continuously.
Questions to answer:
1) What is the analysis in the frequency domain of a signal? What
differences exist with respect to time domain
2) What is the FFT?
3) What type of signals (continuous or discrete) are being used in
the program? Explain your answer.
4) Explain what the frequency spectrum of a signal is (remember
that the frequency spectrum is two graphs).
5) According to the project, generally what type of signals do we
find in nature (continuous or discrete) and what type of signals do
computer systems use (continuous or discrete)?
In: Electrical Engineering
Nominal GDP was $21,329.8 billion in Q2 of 2019 and fell to $19,520.1 billion in Q2 in 2020. Real GDP was $19,020.6 for Q2 in 2019 and $17,302.5 for Q2 in 2020, where 2012 was the base year. Compute the percentage change in the GDP deflator during this period.
In: Economics
The senior management of SFU and UBC were deeply concerned about the enrollment for Fall 2020 in March because of the pandemic. However, it turned that the enrollment went up by 5 – 10% for Fall 2020. Please explain this phenomenon using concepts from this course.
In: Accounting
Haaland Company depreciates an asset with an original cost of $8,000 over 5 years using the sum-of-the-years digits’ method of depreciation. The asset was purchased on July 1, 2020 and the depreciation expense for 2020 is $1,250. What is the estimated salvage value of the asset?
In: Accounting
Identify the problems faced by united technologies which lead to the proposed merger and acquisition.
In: Accounting
Identify five significant differences between these two democracies: United Kingdom and France
In: Economics
Explain and compare the main fiscal policy response of the United State and Australia to the pandemic.
In: Economics
draw a diagram for the divisional structure at Emirates NBD bank in united arab emirates
In: Operations Management