In: Finance
BLC Ltd. has revenue of £500 million and sells all of its goods on credit to a variety of different wholesale customers. At the moment the company offers a standard credit period of 30 days. However, 70% of its customers (by revenue) take an average of 70 days to pay, while the other 30% of customers (by revenue) pay within 30 days. The company is considering offering a 2% discount for payment within 30 days and estimates that 80% of customers (by revenue) will take up this offer (including those that already pay within 30 days). The Managing Director has asked the credit controller if the cost of this new policy would be worth offering. The company has a £80 million overdraft facility that it regularly uses to the full limit due to the lateness of payment and the cost of this overdraft facility is 15% per annum. The credit controller also estimates that bad debt level of 2% of revenue would be halved to 1% of revenue as a result of this new policy. Required Calculate the approximate equivalent annual percentage cost of a discount of 2%, which reduces the time taken by credit customers to pay from 70 days to 30 days. Calculate the value of trade receivables under the existing scheme and the proposed scheme at the year-end. Evaluate the benefits and costs of the scheme and explain with reasons whether the company should go ahead and offer the discount. You should also consider other factors in this decision. (Hint: You need to work out the cost of the discount compared to the interest on the overdraft saved and bad debt reduction.)
In: Accounting
Nano Circuits Inc, is a publicly traded company that produces electronic control circuits, which are used in many products. In an effort to comply with SOX, Nano is in the process of establishing an in-house internal audit function, which previously had been outsourced. The company began this process by hiring a Director of Internal Audits. Nano Circuits’ CEO recently called a planning meeting to discuss the roles of key corporate participants regarding the implementation and maintenance of internal controls. Central to this decision is the organizational placement of the future internal audit function and to whom the new Director of Internal Audit should report. In addition, Nano Circuits considered the need to reconstitute its Board of Directors Audit Committee. Participants at the meeting included the company president, the chief financial officer, a member of the audit committee, a partner from Nano Circuits external audit firm, and the Director of Internal Audits. Expectations and concerns presented by the meeting participants are summarized below.
CEO: The CEO expressed concern that Nano Circuits complies with SOX and PCAOB requirements and recommendations. The internal audit function should strengthen the organization’s internal control system by developing control policies and procedures and by detecting violations of policies and procedures.
CFO: The CFO saw the role of the internal audit function as one that should be focused primarily on financial issues and therefore, the director of Internal Audits should report to the CFO.
Audit committee member: The committee member felt strongly that the Audit Committee as currently constituted is appropriate and no changes need to be made. Although none of the committee members are trained accountants they all have extensive industry experience, they have all been associated with Nano Circuits in various capacities for many years, and are well qualified to fulfill their policy-oversight responsibilities.
External audit partner: The external audit partner pointed out that the internal audit function should be organized such that it supports a close working relationship with the external auditors. This would include monitoring internal control systems on a continuing basis to provide a body of evidence on which the external auditor can rely.
Director of Internal Audits: The Director of Internal Audits argued that the new IA function should focus more on operational auditing issues, but it also should play a role in the review of internal controls over financial reporting.
Required
a. Describe the role that each of the following areas has in the establishment, maintenance, and evaluation of internal control: i. Management ul. External auditor i. Internal audit
b. To whom should the Director of Internal Audits report? Explain your answer.
c. Comment on the audit committee member’s perspective as to the committee’s current composition.
In: Accounting
For each of the following situations, write if you agree or disagree with the financial reporting practices used and briefly explain the reasons that justify your response.
1. The Cantor Corporation accountant increased the book value of
the patent from its cost of $ 1 million to its newly valued value
of $ 6 million.
2. Stanton Corporation paid for personal travel from its chief
financial officer and charged the travel expense.
3. At the end of the fiscal year 2013 fiscal year, Dower, Inc.,
received a consumer order for $ 60,000. The merchandise will be
shipped early in the year 2014. Because this sale is made to a
consumer that has been for a long period of time and the invoice
was paid in 2013, the auditor recorded the sale in 2013.
4. In the middle of fiscal year 2013, Sanguinetti, Inc., paid $
12,000 to your insurance company for one year of coverage
comprehensively. Sanguinetti recorded the expenditure in
2013.
5. The pharmacy company Churchill included a note in its financial
statements that describes a pending lawsuit against the
company.
6. Daily Corporation, a company whose securities are publicly
traded, prepares monthly, quarterly and annual financial statements
for internal use but only made annual financial statements
available to external entities.
In: Accounting
Ask the user for the name of a car maker. Display the oldest and newest car from that maker. Modify your display to include the VIN of the car. Format the output in columns of 15, 25, 5, and 18.
| Standard Input | Files in the same directory |
|---|---|
Toyota |
|
Required Output
What car make are you looking for?\n
Oldest Toyota\n
Toyota MR2 1985 WAUFFAFL2CN997894\n
Newest Toyota\n
Toyota Venza 2013 WAUEH54B01N735764\n
| Standard Input | Files in the same directory |
|---|---|
Chevrolet |
|
Required Output
What car make are you looking for?\n
Oldest Chevrolet\n
Chevrolet Corvair 1960 1N6BF0KM1FN003702\n
Newest Chevrolet\n
Chevrolet Colorado 2012 WVWAA7AJ4BW878497\n
| Standard Input | Files in the same directory |
|---|---|
Lamborghini |
|
Required Output
What car make are you looking for?\n
Oldest Lamborghini\n
Lamborghini Murciélago 2002 3GYFK66N43G898137\n
Newest Lamborghini\n
Lamborghini Reventón 2008 ZHWGU5BR6EL542311\n
| Standard Input | Files in the same directory |
|---|---|
Kia |
|
Required Output
What car make are you looking for?\n
Oldest Kia\n
Kia Sephia 1996 1N6AA0CC7CN222465\n
Newest Kia\n
Kia Forte 2012 2V4RW3D14AR530852\n
| Standard Input | Files in the same directory |
|---|---|
GMC |
|
Required Output
What car make are you looking for?\n
Oldest GMC\n
GMC Jimmy 1992 1YVHZ8BA1A5450350\n
Newest GMC\n
GMC Yukon 2013 1FTFW1E82AK523715\n
| Standard Input | Files in the same directory |
|---|---|
Volvo |
|
Required Output
What car make are you looking for?\n
Oldest Volvo\n
Volvo 850 1995 JH4KC1F95FC996591\n
Newest Volvo\n
Volvo S60 2011 WA1DGAFE7ED674601\n
Heres cars.txt that you wanted:
make model year Ford Expedition 2003 Mazda B-Series 1989 Ford Freestar 2003 Hyundai Elantra 2001 Hyundai Entourage 2008 Chevrolet Camaro 2011 Chevrolet Monte Carlo 2006 Chevrolet Blazer 1996 Chevrolet Aveo 2005 Chevrolet Corvette 1999 Mercedes-Benz E-Class 2006 Dodge Avenger 1995 Pontiac Grand Prix 1973 Mitsubishi Outlander 2011 MINI Clubman 2011 Suzuki Aerio 2007 Dodge Dakota Club 1992 Chevrolet Astro 2002 Chevrolet Tahoe 1996 Mitsubishi Mirage 1994 Porsche 944 1991 Hyundai Elantra 1994 Mercury Grand Marquis 1998 Volkswagen Golf 2001 Jaguar XJ Series 2005 Toyota Echo 2005 GMC Safari 2002 GMC Sierra 1500 2000 Chevrolet Cobalt 2005 Jeep Patriot 2008 Mazda Navajo 1991 Chevrolet Malibu 2001 Saab 900 1990 Mercury Grand Marquis 1998 Hummer H1 2004 Subaru Loyale 1993 Jeep Wrangler 1999 Ford Mustang 1994 Austin Mini Cooper S 1963 Mercedes-Benz M-Class 1998 Jeep Wrangler 2006 Honda Civic 1997 Plymouth Voyager 1994 Ford Club Wagon 1997 Audi 5000S 1984 Saturn VUE 2003 Oldsmobile Achieva 1994 Mercedes-Benz G55 AMG 2006 Chevrolet Express 3500 1997 Lexus ES 1992 Cadillac Allante 1992 Hyundai Tiburon 1997 Pontiac Grand Prix 1965 Ford Focus 2000 Mitsubishi Chariot 1987 Chrysler Prowler 2001 Land Rover Discovery 2012 Volkswagen Scirocco 1984 Ford Bronco 1984 Hyundai Accent 1996 Volkswagen Routan 2012 Volkswagen Golf 2003 GMC Terrain 2010 Ford F150 2009 GMC Sierra 2011 Dodge Ram Van 1500 2000 Chrysler 300 2009 Oldsmobile Achieva 1997 Land Rover Discovery 2008 Toyota 4Runner 2002 Porsche 911 1995 Toyota Land Cruiser 2002 Land Rover Defender 1994 Chevrolet Lumina 1997 Audi TT 2002 Chrysler Town & Country 2009 Nissan Frontier 2000 Toyota Tercel 1997 Buick Riviera 1997
I would prefer the sorting algorithm types like Bubble and Selection searches if you can. If you want car-list.txt, I can't put it in the question because it was too long. Make sure this in Java and also have notes on the program and the right formatting, thank you.
In: Computer Science
Data sets for daily high temperatures (in °F) in the months of August and February of 2015, 2017, and 2019:
August 2015: 80; 81; 85; 87; 84; 80; 75; 82; 83; 85; 72; 78; 79; 85; 88; 89; 90; 90; 86; 84; 80; 79; 80; 85; 79; 74; 71; 77; 83; 88; 85
February 2015: 31; 33; 23; 37; 33; 22; 37; 42; 36; 29; 32; 32; 15; 24; 12; 12; 23; 28; 15; 13; 24; 37; 30; 23; 33; 23; 22; 27
August 2017: 86; 87; 85; 86; 74; 73; 66; 79; 82; 82; 78; 81; 80; 76; 78; 81; 85; 82; 83; 81; 81; 85; 88; 74; 74; 74; 76; 73; 63; 76; 72
February 2017: 39; 35; 27; 30; 38; 45; 50; 53; 33; 27; 44; 38; 36; 43; 43; 30; 38; 62; 64; 49; 48; 57; 70; 75; 67; 36; 50; 64
August 2019: 85; 86; 85; 86; 84; 87; 82; 82; 79; 77; 79; 84; 83; 83; 82; 83; 86; 89; 87; 87; 86; 85; 74; 75; 76; 76; 72; 79; 76; 82; 76
February 2019: 18; 31; 46; 59; 58; 40; 54; 47; 27; 31; 35; 33; 34; 38; 55; 35; 39; 34; 28; 32; 48; 39; 41; 44; 37; 30; 31; 30
In: Statistics and Probability
An economist with a major bank wants to learn, quantitatively, how much spending on luxury goods and services can be explained based on consumers’ perception about the current state of the economy and what do they expect in the near future (6 months ahead). Consumers, of all income and wealth classes, were surveyed. Every year, 1500 consumers were interviewed. The bank having all of the data from the 1500 consumers interviewed every year, computed the average level of consumer confidence (an index ranging from 0 to 100, 100 being absolutely optimistic) and computed the average dollar amount spent on luxuries annually. Below is the data shown for the last 24 years.
Date X Y (in thousands of dollars)
1994 79.1 55.6
1995 79 54.8
1996 80.2 55.4
1997 80.5 55.9
1998 81.2 56.4
1999 80.8 57.3
2000 81.2 57
2001 80.7 57.5
2002 80.3 56.9
2003 79.4 55.8
2004 78.6 56.1
2005 78.3 55.7
2006 78.3 55.7
2007 77.8 55
2008 77.7 54.4
2009 77.6 54
2010 77.6 56
2011 78.5 56.7
2012 78.3 56.3
2013 78.5 57.2
2014 78.9 57.8
2015 79.8 58.7
2016 80.4 59.3
2017 80.7 59.9
Question:
In: Statistics and Probability
An economist with a major bank wants to learn, quantitatively, how much spending on luxury goods and services can be explained based on consumers’ perception about the current state of the economy and what do they expect in the near future (6 months ahead). Consumers, of all income and wealth classes, were surveyed. Every year, 1500 consumers were interviewed. The bank having all of the data from the 1500 consumers interviewed every year, computed the average level of consumer confidence (an index ranging from 0 to 100, 100 being absolutely optimistic) and computed the average dollar amount spent on luxuries annually. Below is the data shown for the last 24 years.
Date X Y (in thousands of dollars)
1994 79.1 55.6
1995 79 54.8
1996 80.2 55.4
1997 80.5 55.9
1998 81.2 56.4
1999 80.8 57.3
2000 81.2 57
2001 80.7 57.5
2002 80.3 56.9
2003 79.4 55.8
2004 78.6 56.1
2005 78.3 55.7
2006 78.3 55.7
2007 77.8 55
2008 77.7 54.4
2009 77.6 54
2010 77.6 56
2011 78.5 56.7
2012 78.3 56.3
2013 78.5 57.2
2014 78.9 57.8
2015 79.8 58.7
2016 80.4 59.3
2017 80.7 59.9
Question:
In: Statistics and Probability
The following data set provides information on the lottery sales, proceeds, and prizes by year in Iowa.
| FYI | Sales | Proceeds | Prizes |
| 1986 | $85,031,584 | $27,631,613 | $39,269,612 |
| 1987 | $98,292,366 | $31,157,797 | $47,255,945 |
| 1988 | $128,948,560 | $40,090,157 | $65,820,798 |
| 1989 | $172,488,594 | $49,183,227 | $92,563,898 |
| 1990 | $168,346,888 | $50,535,644 | $90,818,207 |
| 1991 | $158,081,953 | $44,053,446 | $86,382,329 |
| 1992 | $166,311,122 | $45,678,558 | $92,939,035 |
| 1993 | $207,192,724 | $56,092,638 | $116,820,274 |
| 1994 | $206,941,796 | $56,654,308 | $116,502,450 |
| 1995 | $207,648,303 | $58,159,175 | $112,563,375 |
| 1996 | $190,004,182 | $51,337,907 | $102,820,278 |
| 1997 | $173,655,030 | $43,282,909 | $96,897,120 |
| 1998 | $173,876,206 | $42,947,928 | $96,374,445 |
| 1999 | $184,065,581 | $45,782,809 | $101,981,094 |
| 2000 | $178,205,366 | $44,769,519 | $98,392,253 |
| 2001 | $174,943,317 | $44,250,798 | $96,712,105 |
| 2002 | $181,305,805 | $48,165,186 | $99,996,233 |
| 2003 | $187,829,568 | $47,970,711 | $104,199,159 |
| 2004 | $208,535,200 | $55,791,763 | $114,456,963 |
| 2005 | $210,669,212 | $51,094,109 | $113,455,673 |
| 2006 | $339,519,523 | $80,875,796 | $122,258,603 |
| 2007 | $235,078,910 | $58,150,437 | $133,356,860 |
| 2008 | $249,217,468 | $56,546,118 | $144,669,575 |
| 2009 | $243,337,101 | $60,553,306 | $138,425,341 |
| 2010 | $256,255,637 | $57,907,066 | $150,453,787 |
| 2011 | $271,391,047 | $68,001,753 | $158,961,078 |
| 2012 | $310,851,725 | $78,731,949 | $182,442,447 |
| 2013 | $339,251,420 | $84,890,729 | $200,801,768 |
| 2014 | $314,055,429 | $73,972,114 | $186,948,985 |
| 2015 | $324,767,416 | $74,517,068 | $196,882,289 |
| 2016 | $366,910,923 | $88,024,619 | $221,767,401 |
You decided to find the linear equation that corresponds to sales and year. Create a graph using the sales and year. Add the linear equation to the graph. What is the y-intercept of the linear equation?
Round each value below to the nearest integer.
Provide your answer below: ____E+ ___
In: Statistics and Probability
Please Use R studio and show all the steps to answer this question
NY Marathon 2013 the table below shows the winning times (in minutes) for men and women in the new york city marathon between 1978 and 2013. (the race was not run in 2012 because of superstorm sandy.) assuming that performances in the big apple resemble performances elsewhere, we can think of these data as a sample of performance in marathon competitions. Create a 90% confidence interval for the mean difference in winning times for male and female marathon competitors.
|
Year |
Men |
Women |
Year |
Men |
Women |
|
1978 |
132.2 |
152.5 |
1996 |
129.9 |
148.3 |
|
1979 |
131.7 |
147.6 |
1997 |
128.2 |
148.7 |
|
1980 |
129.7 |
145.7 |
1998 |
128.8 |
145.3 |
|
1981 |
128.2 |
145.5 |
1999 |
129.2 |
145.1 |
|
1982 |
129.5 |
147.2 |
2000 |
130.2 |
145.8 |
|
1983 |
129.0 |
147.0 |
2001 |
127.7 |
144.4 |
|
1984 1985 1986 1987 1988 1989 1990 1991 1992 1993 1994 1995 |
134.9 131.6 131.1 131.0 128.3 128.0 132.7 129.5 129.5 130.1 131.4 131.1 |
149.5 148.6 148.1 150.3 148.1 145.5 150.8 147.5 144.7 146.4 147.6 148.1 |
2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 |
128.1 130.5 129.5 129.5 130.0 129.1 128.7 129.3 128.3 125.1 Cancelled 128.4 |
145.9 142.5 143.2 144.7 145.1 143.2 143.9 148.9 148.3 143.3 Cancelled 140.1 |
In: Statistics and Probability