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.

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%”.

GreenSpruce Inc. reported income from continuing operations before tax of $2,774,500 during 2020. Additional transactions occurring in 2020but not included in the $2,774,500 are as follows:1.

The corporation experienced an insured flood loss of $124,000 during the year.

2.The sale of FV-NI investments resulted in a loss of $165,850.

3.When its president died, the corporation gained $155,000 from an insurance policy. The cash surrender value of this policy had been carried on the books as an investment in the amount of $71,300 (the gain is non-taxable).

4.The corporation disposed of its recreational division at aloss of $178,250 before tax. Assume that this transaction meets the criteria for accounting treatment as discontinued operations.Instructions:

(a)Prepare an income statement for the year 2020, starting with income from continuing operations before income tax. Calculate earnings per share as required under IFRS. There were 60,000 common shares outstanding during the year. (Assume a tax rate of 20% on all items unlessthey are noted as being non-taxable.)

(b)Assume that beginning retained earnings for 2020is $3,967,000 and that dividends of $271,250 were declared during the year. Prepare the retained earnings portion of the statement of changes in equity for 2020

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

1.) Doggo Co. Declares a $50,000 cash dividend to its common shareholders on January 2nd. The date of record is January 18th and the date of payment is January 31st. Make all necessary journal entries for this:

2.) Puppy Inc. declares $80,000 in dividends on July 5th 2020. The date of record will be July 18th, and the payment date will be July 20th. The company has 2,000 shares of 10%, $40 par cumulative preferred stock issued and outstanding. The company also has 20,000 shares of $2 par common stock. The company paid no dividends in 2019 Journalize all necessary entries for this.

1. If the demand for a good becomes less elastic without any change in the equilibrium price or quantity sold, consumer surplus in that market most likely

2. Most of the marginal damage from US car travel in metropolitan areas is from

3. Most of the marginal damage from US semi truck travel (total travel) is from

You have been requested to design a schema (as an E/R diagram) for the contact-tracing database. Your group is busy working to design and field a contact-tracing database to be able to trace rapidly people who may have been in close proximity (contact) to someone diagnosed with a highly infectious disease.

The Contact Tracing Domain

To be able to trace with whom a person has been in contact, we need to know where that person has been and when. We have to know this about everyone else too. Then we could figure out the potential contacts by seeing who was in places at the same time as the person. During an epidemic with a highly infectious disease, by tracing the recent contacts of a person who has become ill, these people can be warned to take appropriate action. This can greatly help to stem the epidemic.

Thus Person is fundamental in our database. We are tracing people, after all. Information we should keep for people is a name, address, and phone#. We can keep sin, a person's social insurance number to identify the person. (Assume that the government will issue anyone in Canada who does not have a sin a temporary sin for this very purpose. Also note that, in building such a database for real, in truth, using sin for this would likely not be a good choice. But, for the project, let us assume it is.)

We should also record Places. This will include public building and other indoor places where people can meet, and thus come into contact. (We assume for now that the disease does not transmit outdoors, so we are not keeping track of all possible locations.) We can use a place's name to identify it, and we want to keep about a place its gps coordinates, address, and a description.

Central to the whole database's operation is to collect “observations” about which places a person has been, and when they were there. Thus, we are designing a mass-surveillance database! But we are assuming that this is for a good cause, and that the database, once up and running, will not be abused for other purposes.

Let us call an observation that such a person was in such a place at such a time a Recon — a shortened form of the military term reconnaissance — to have an easier way to organize our thoughts. A Recon names a Person (who) as being at a Place at a given time (when). Let us employ the notion of Time Slot for handling times. There will be effectively an entry in Time Slot for every fifteen-minute period; e.g., 3:00pm 25 September 2020, 3:15pm 25 September 2020, 3:30pm 25 September 2020, and so forth. For any given time slot in which a person was observed somehow to be at a place, we would have a Recon entry. Thus each Recon is associated with a Time Slot, telling us when the person was there. (A better way to handle time in such a scenario is to work with time intervals. This is significantly more involved design-wise, however. Therefore, for our first cut of a schema for our contact-tracing database — that is, this project — let us employ Time Slot to handle the “when” aspect.) In fact, we can use when to identify any given Time Slot. (Say we assume the when value identifies the beginning of the time slot; e.g., 3:00pm stands for 3:00pm up to 3:15pm.)

A Recon then identifies — and therefore, is identified, at least in part, by — the person, the place, and the time slot (when), which is “saying” that Person (who) was at Place during this Time-slot time (when). For any Recon, we also must record the Method, the way, that we know that the person was at the place at that time. Examples of methods might be, for example, contact-tracing phone app, surveillance camera with facial recognition, and a registry entry (the person had to sign a registry book on entering and exiting the building). Note that there could be more than one recons telling us a person was at a place at a given time, each recon supported by different evidence (Method).

In our database, we also need to track when a person is tested, a Test, for the disease. Such a diagnosis Test is administered to a given Person at (“upon”) a given time (Time Slot). This information identifies any given Test. A Test is administered in a Test Centre — which is a Place — and is of a given Test Type. (There are different types of test for the disease, which may differ in efficacy and cost.) Thus, we want to record where the Test was administered, and what type of test it was.

A Test may result in an Action. Let Action be identified by an action name. (An action might be taken given the result of the test; for instance, if it came back positive for the disease, the person might be placed in quarantine.) Assume that a given Test results in at most one Action. Of course, a Test might not result in any action. (Say, the test came back negative and no action was necessary.) We want to track actions resulting from tests.

Not all Test Centres are equipped to administer all types of test (Test Types). Thus, we want to record which Test Types are offered at which Test Centres. A Test Centre may offer different types of test; and a type of test may be available at a number of test centres.

Lastly, the Government is to require that each Person identifies their bubble; that is family and friends — other people (Persons) — with whom they are regularly in contact. We need to record this “bubble” information in the database.