RGDP Growth in US: Research data on the recent growth rate of RGDP in the US. Again, please CITE your credible data source. What is the latest RGDP growth rate? RGDP per Capita: Research data on recent RGDP per capita in the US and other countries. CITE your source. Name some countries that have higher RGDP per capita than the US. Characterize Economic Growth: What do you think is the best measure of economic growth? How would you characterize economic growth in the US over the past 30 years?

1. In accounting its important to understand that there may be events that occur that are not business transactions. Please give us an example of a business transaction that affects the accounting equation. Remember that the expanded accounting equation is: Assets = Liabilities + Owner's Equity + Revenue - Expenses. Please be sure that you provide this transaction in General Journal format. Additionally give us an example of an event that is not an accounting transaction.

2. Please let us know what you are doing to get those rules of debit and credit memorized. Please let us know if you have any hints to help us with this process.

The International Financial Reporting Standards (IFRS), issued by the International Accounting Standards Board (IASB: www.ifrs.org) has been increasingly adopted around the world. The United States Securities and Exchange Commission (SEC: www.sec.gov ), in 2008, issued the publication: “Roadmap for the Potential use of Financial Statements Prepared in Accordance with International Financial Reporting Standards by US Issuers”. This Roadmap presented necessary steps to be taken for US to adopt IFRS starting 2014 and to be completed by 2016.

Use the Internet and e-library to answer the following questions:

Discuss three differences between the IFRS and the US GAAP.

Do you think that the US is ready economically and financially to adopt the IFRS.

Discuss the potential effects (if any) of the IFRS on the quality of financial reporting in US. Do you think the quality of financial reporting in US will be improved with the application of IFRS?

BMW manufactures most of its cars in Germany but its sales are in the U.S., Eurozone and the UK, with the US being its largest market. Sales to the U.S. and UK are invoiced in US dollars and pound sterling, respectively. Its major competitors are based in the US, UK and Japan.

a. Explain the types of foreign currency exposure faced by BMW.

b. What is the likely impact on BMW’s profitability of an appreciation in the value of the US$?

c. If the value of the Euro were to fall relative to the US $ what advice would you give to BMW’s Foreign Exchange Risk Manager in relation to its hedging strategy

d. What non-derivative and non-financial strategies might BMW employ that would reduce its economic exposure on US and UK car sales?

1. Suppose the exchange rate between US$ and Euro, US$ and Japanese Yen are:

    1 US$ = 2 Euro; 1 US$ = 100 Yen.

    Suppose the interest rates published by central banks in the U.S., Euro zone, and Japan are 2%, 3%, and 4%, respectively;

    And, suppose the inflation rates in the U.S., Eurozone, and Japan are 1%, 2%, and 1%,

    respectively. Therefore, (calculation formula is optional)

Q1.1: How much Yen can 1 Euro exchange for?

Answer1.1:

Q1.2: What is the real interest rate for the US, Euro zone, and Japan, respectively?

Answer1.2:

            US=

            Euro zone=

            Japan=

Q1.3: (True/False) A person with 2 Euro can convert the money into Yen and save it in Japanese banks for one year, and get 103 Yen back.

Answer1.3:

Question 1

The following ratios have been computed for Cola Company for 2017.

                  Profit margin                                               12.5%

                  Times interest earned                                 8 times

                  Receivables turnover                                 4 times

                  Acid-test ratio                                                2 : 1

                  Current ratio                                                   3 : 1

                  Debt to assets ratio                                        20%

Mason Company’s 2017 financial statements with missing information follow:

MASON COMPANY

Comparative Balance Sheet

December 31,

———————————————————————————————————————————

Assets                                                                                                   2017                      2016  

Cash.............................................................................................    $ 30,000               $ 45,000

Short-term Investments...............................................................        10,000                   25,000

Accounts receivable (net)............................................................             ?        (6)           40,000

Inventory.....................................................................................             ?        (8)           50,000

Property, plant, and equipment (net)...........................................    200,000               160,000

        Total assets...........................................................................     $      ?         (9)       $320,000

Liabilities and stockholders' equity

Accounts payable.........................................................................     $     ?        (7)       $ 30,000

Short-term notes payable.............................................................        40,000                   35,000

Bonds payable.............................................................................             ?       (10)          20,000

Common stock.............................................................................      220,000                 200,000

Retained earnings........................................................................     60,000                 35,000

        Total liabilities and stockholders' equity..............................     $      ?        (11)      $320,000

MASON COMPANY

Income Statement

For the Year Ended December 31, 2017

———————————————————————————————————————————

Net sales.......................................................................................                            $200,000

Cost of goods sold.......................................................................                              75,000

Gross profit..................................................................................                              125,000

Expenses:

      Depreciation expense.............................................................          $     ?                             (5)

      Interest expense.....................................................................             5,000

      Selling expenses.....................................................................             8,000

      Administrative expenses........................................................         12,000

            Total expenses..................................................................                                   ?           (4)

Income before income taxes........................................................                                   ?           (2)

      Income tax expense...............................................................                                   ?           (3)

Net income...................................................................................                            $   ?           (1)

     Required

     Use the above ratios and information from the Mason Company financial statements to fill in   

     the missing information on the financial statements. Follow the sequence indicated. Show

     computations that support your answers.

Shamsud Ltd. operates on a calendar-year basis. At the beginning of December 2016, the company had the following current liabilities on its books:

In December, the following events occurred:

1.Shamsud purchased a new computer system on account at a cost of $28,000, payable on January 15, 2017. In addition to this, $4,000 was paid in cash to have the new system installed and customized to the company's requirements.

2.The company purchased inventory for $93,000 on account and made payments of $86,000 to its suppliers.

3.The rent that was payable at the beginning of December represented the payment that should have been made in November. In December, Shamsud paid the past rent owed, as well as the rent for December and January.

4.By December 31, the company had earned $5,000 of the service revenue that was received in advance from customers.

5.Shamsud's employees are paid a total of $2,000 per day. Three work days elapsed between the last payday and the end of the fiscal year. (Ignore deductions for income tax, CPP, and EI.)

6.The company's products are sold with a two-year warranty. Shamsud estimates its warranty expense for the year (not previously recorded) as $16,000. During December, it paid $1,200 in warranty claims.

Required:

a.  

Prepare the journal entries to record the December transactions and adjustments. (Ignore the amounts that the company pays for its share of CPP and EI.)

b.  

Prepare the current liability section of Shamsud's statement of financial position on December 31, 2016.

Give the answer of all question in detail

The US President Donald Trump and his advisors have repeatedly said that they intended to get rid of the US trade deficit.

Question 01: What are the main industries responsible for this trade deficit? Support your answer with numbers (Words 200)

Question 02: What are the main countries responsible for this trade deficit? Support your answer with numbers (Words 200)

Question 03: As of April 8th 2018, list the goods and the countries for which the US has decided to create new tariffs. For these goods, what are the amounts currently imported by the US? (Words 250)

Question 04: List the US goods for which China has decided to create new tariffs. For these goods, what are the amounts currently imported by China? (Words 200)

Question 05: Assume that the new tariffs will decrease both US exports to China and Chinese exports to the US by 30% (only for the targeted goods). Building on your answer on questions 1 to 4, what would be the impact of the new tariffs on the US-China trade deficit? Support your answer with numbers (Words 200)

• Case Study

Read the following case study and answer the questions that follow:

Grace Speak is a fourth-year student at Best University. She and her fellow classmates are working hard in their final courses and preparing for exams. Inspired by the teamwork that the healthcare profession espouses, Grace gets an idea for a study group. She thinks it will really help to share case experiences, course notes, and study tips. Unfortunately, several members of her peer group live out of town, which makes it difficult for them to participate fully. Grace is torn, as she does not want to exclude them from the study group. When she voices her concerns to a classmate, her friend suggests using social media tools as the primary medium for sharing information.

1. Grace decides to establish a set of “ground rules” from the outset when she forms the study group. Create a set of “ground rules” that will help to create a group with full participation by all members and that will not place members of the group at risk, for either privacy or academic (plagiarism) concerns. Provide your reasoning for the “ground rules” you established.

Ground Rules

[Write your response here.]

Rationale

[Write your response here.]

2. In a specific week, the assignment is particularly challenging. One of the students in the study group offers to post the “answers” he received from a student who completed this same assignment last year from the same instructor. Grace knows that one of her close friends in the study group is at risk of failing if she does not do well on this assignment. Describe how Grace might handle this situation to reduce the academic risk of plagiarism for herself, her friend, and other members of the study group.

[Write your response here.]