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 following events apply to the first year of operations for Mestro Financial Services Company:

1. Acquired $28,000 cash by issuing common stock on January 1, 2018.

2. Purchased $1,000 of supplies on account.

3. Paid $12,000 cask in advance for a one-year lease on office space.

4. Earned $23,000 of consulting revenue on account.

5. Incurred $16,000 of general operating expenses on account.

6. Collected $20,000 cash from receivables.

7. Paid $13,000 cash on accounts payable.

8. Paid a $1,000 cash dividend to stockholders.

9. There was $200 of supplies on hand.

10. The one-year lease on the office space was effective beginning on October 1, 2018.

11. There was $1,200 of accrued salaries at the end of 2018.

Required:

A. Record the preceding events in general journal format.

B. Post the transaction data from the general journal into general ledger T-accounts.

C. Prepare an adjusted trial balance.

D. Prepare an income statement, statement of changes in stockholders’ equity, balance sheet, and statement of cash flows.

E. Prepare the appropriate closing entries in general journal format.

The following transactions apply to Jova Company for Year 1, the first year of operation:

1. Issued $15,500 of common stock for cash.
2. Recognized $64,500 of service revenue earned on account.
3. Collected $57,600 from accounts receivable.
4. Paid operating expenses of $36,000.
5. Adjusted accounts to recognize uncollectible accounts expense. Jova uses the allowance method of accounting for uncollectible accounts and estimates that uncollectible accounts expense will be 2 percent of sales on account.

The following transactions apply to Jova for Year 2:

1. Recognized $72,000 of service revenue on account.
2. Collected $65,600 from accounts receivable.
3. Determined that $890 of the accounts receivable were uncollectible and wrote them off.
4. Collected $300 of an account that had previously been written off.
5. Paid $48,400 cash for operating expenses.
6. Adjusted the accounts to recognize uncollectible accounts expense for Year 2. Jova estimates uncollectible accounts expense will be 1 percent of sales on account.

Required
Complete the following requirements for Year 1 and Year 2. Complete all requirements for Year 1 prior to beginning the requirements for Year 2.

c. Organize the transaction data in accounts under an accounting equation for each year.

The following transactions apply to Jova Company for Year 1, the first year of operation: Issued $10,000 of common stock for cash. Recognized $210,000 of service revenue earned on account. Collected $162,000 from accounts receivable. Paid operating expenses of $125,000. Adjusted accounts to recognize uncollectible accounts expense. Jova uses the allowance method of accounting for uncollectible accounts and estimates that uncollectible accounts expense will be 1 percent of sales on account. The following transactions apply to Jova for Year 2: Recognized $320,000 of service revenue on account. Collected $335,000 from accounts receivable. Determined that $2,150 of the accounts receivable were uncollectible and wrote them off. Collected $800 of an account that had previously been written off. Paid $205,000 cash for operating expenses. Adjusted the accounts to recognize uncollectible accounts expense for Year 2. Jova estimates uncollectible accounts expense will be 0.5 percent of sales on account. Required Complete the following requirements for Year 1 and Year 2. Complete all requirements for Year 1 prior to beginning the requirements for Year 2. c. Organize the transaction data in accounts under an accounting equation for each year.

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:

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)

Discuss an overview of the industry standard of radiation exposure for nuclear workers. What are the advantages and disadvantages of individual montoring for radiation exposure? What industry standards place into the enforcement of individual monitoring?