Except for the earnings per share statistics, the 2019, 2020, and 2021 income statements for Ace Group Inc. were originally presented as follows:


Required:
1. Calculate the 11 missing amounts. (Loss should be indicated by a minus sign.)

Answer is complete and correct.

Indicate how each of the following transactions is entered into the US balance of payments with double-entry bookkeeping:

• A U.S. firm exports $500 of goods to an Australian retired man who pays with his bank account savings from his Australian Bank

• A U.S. economics major purchases a travel service for $200 to Italy and pays it with money from his U.S. bank account

• The U.S. government gives $100 from a US bank to Cuba to favor greater economic growth

• A U.S. resident purchases a foreign stock for $400 and pays for it by increasing bank balances in the United States

• A foreign investor purchases $300 of U.S. treasury bills and pays by drawing down his bank balances in the United States by the same amount

--> Using this information, calculate the U.S. balance of payments

Example: Starbucks buys coffee from an Indonesian farmer for USD 50 K who in return acquires fertilizer from a US manufacturer

US Current Account (CA):

Trade: -50 K (import of coffee)

Trade: +50 K (export of fertilizer)

1. Alaska Airlines purchases its first Embraer jet from Embraer in Brazil for USD 65M. Embraer uses the receipt of USD 65M to reduce its outstanding USD loan with Bank of America in New York.

2. A Washington State farmer sells apples to a Canadian supermarket chain. The farmer is paid CAD 15M, which the farmer keeps in CAD in her bank account with a Canadian. Assume the spot exchange rate is 0.80 CAD/USD. Express your answer in USD at the current exchange rate.

Listed below are the yields of various Treasury securities on separate days over the last five years.

(1) Provide an explanation of the evolution of the Treasury yield curve from 2018 to 2020.

(2) Focusing on the 2020 yield curve, provide an interpretation of the curve? (What do you infer from it)

Currently, the annual personal income tax per capita is lower than 30ghc and this is considered woefully inadequate.

Meanwhile, many in the formal sector has been over burdened with income tax, some paying above 10,000ghc a year in tax. Nevertheless, those in the informal sector are left to hide in the underground economy .

The government needs more tax revenues from the informal sector to reduce budget deficit and associated borrowing.

In the 2020 fiscal policy, government proposes to rope many hitherto out of the tax net into the tax net so as to increase taxes from the informal sector.

Required
Suggest to Government four policy measures it should implement in order to achieve the 2020 fiscal policy objective

28

Drawing on Andrew Eschtruth’s lectures, which of the following is true about prospects for Americans’ retirement

Select one:

a. In 2020, Social Security benefit costs will exceed Social Security’s tax revenues and Trust Fund income; that will be the end of Social Security.

b. In 2020, Social Security benefit costs will exceed Social Security’s tax revenues and Trust Fund income; that will statutorily require an increase in the Social Security tax.

c. Over the past generation, Americans have shifted sharply from Defined Benefit Plans to Defined Contribution Plans.  

d. Over the past generation, Americans have shifted sharply from Defined Contribution Plans to Defined Benefit Plans.

1. Mohammad Hasan is a partner in a Big 4 accounting firm, he hired accounting students from your University to conduct the audit of Bank of Palestine. When the audit was done he received the audit report and signed it. The report was issued one day later.

2. Your mother in law is a majority shareholder in Jawwal, you are hired by the company to conduct an audit you conducted the audit and issued your report.

3. Ahmad CPA and Ali a CMA formed a Partnership to provide Audit services. The company was named the nice Audit CPA firm.

4. Samir a CPA advertised has practice on web siting several prominent clients of his firm, he also included links to the client’s websites and quotes from his happy clients.

5. Hania a CPA was talking with her husband about her work she mentioned some client’s information to prove her point.

6. Hanin a CPA in a local accounting Firm when one of her clients did not pay his bills she informed them that she will not give them their records and supporting documents until they pay.

7. Adel a CPA to supplements his income by worked as a bartender at the Movenpick hotel.

8. Majed while auditing the Palestinian Leasing Company discovered a violation IFRS 16. The company indicated to him that this violation is not Material and that following IFRS 16 will make the financial statements misleading accordingly he issued a standard report.

9. Majeda audited a company for three consecutive years without receiving any fees. Required For each case indicate the violation of the code of ethics. Explain your answer by also indicating the standard violated. In case there is no violation indicate so with your reason for your answer

1. Mohammad Hasan is a partner in a Big 4 accounting firm, he hired accounting students from your University to conduct the audit of Bank of Palestine. When the audit was done he received the audit report and signed it. The report was issued one day later
. 2. Your mother in law is a majority shareholder in Jawwal, you are hired by the company to conduct an audit you conducted the audit and issued your report.
3. Ahmad CPA and Ali a CMA formed a Partnership to provide Audit services. The company was named the nice Audit CPA firm.
4. Samir a CPA advertised has practice on web siting several prominent clients of his firm, he also included links to the client’s websites and quotes from his happy clients.
5. Hania a CPA was talking with her husband about her work she mentioned some client’s information to prove her point.
6. Hanin a CPA in a local accounting Firm when one of her clients did not pay his bills she informed them that she will not give them their records and supporting documents until they pay.
7. Adel a CPA to supplements his income by worked as a bartender at the Movenpick hotel.
8. Majed while auditing the Palestinian Leasing Company discovered a violation IFRS 16. The company indicated to him that this violation is not Material and that following IFRS 16 will make the financial statements misleading accordingly he issued a standard report.
9. Majeda audited a company for three consecutive years without receiving any fees.
  Required For each case indicate the violation of the code of ethics. Explain your answer by also indicating the standard violated. In case there is no violation indicate so with your reason for your answer

Accounting 339 Case 1
1. Mohammad Hasan is a partner in a Big 4 accounting firm, he hired accounting students from your University to conduct the audit of Bank of Palestine. When the audit was done here ceived the audit report and signe dit. There port was issue done day later.
2. Your mother in law is a majority shareholder in Jawwal, you are hired by the company to conduct an audit you conducted the audit and issued your report.
3. Ahmad CPA and Ali a CMA formed a Partnership to provide Audit services. The company was named the nice Audit CPA firm.
4. Samir a CPA advertised has practice on web siting several prominent clients of his firm, he also included links to the client’s websites and quotes from his happy clients.
5. Hania a CPA was talking with her husband about her work she mentioned some client’s information to prove her point.
6. Hanin a CPA in a local accounting Firm when one of her clients did not pay his bills she informed them that she will not give them their records and supporting documents until they pay.
7. Adel a CPA to supplements his income by worked as a bartender at the Movenpick hotel.
8. Majed while auditing the Palestinian Leasing Company discovered a violation IFRS 16. The company indicated to him that this violation is not Material and that following IFRS 16 will make the financial statements misleading accordingly he issued a standard report.
9. Majeda audited a company for three consecutive years without receiving any fees.
Required
For each case indicate the violation of the code of ethics. Explain your answer by
also indicating the standard violated. In case there is no violation indicate so with
your reason for your answe

Minister of labour, Thulas Nxesi, has gazetted South Africa’s new minimum wage which will take effect from 1 March 2020. The gazette states that the new national minimum wage is R20.76 – an increase of 3.8%”.

Provide a discussion on the welfare effect of the above, that illustrates the case for when the above results in unemployment in the market for domestic workers as well as a case for when the above has no effect on the market for domestic workers. Use a diagram to support your discussion.

Minister of labour, Thulas Nxesi, has gazetted South Africa’s new minimum wage which will take effect from 1 March 2020. The gazette states that the new national minimum wage is R20.76 – an increase of 3.8%”.

Provide a discussion on the welfare effect of the above, that illustrates the case for when the above results in unemployment in the market for domestic workers as well as a case for when the above has no effect on the market for domestic workers. Use a diagram to support your discussion.

Minister of labour, Thulas Nxesi, has gazetted South Africa’s new minimum wage which will take effect from 1 March 2020. The gazette states that the new national minimum wage is R20.76 – an increase of 3.8%”.