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

On January 1, Year 4, Handy Company (Handy) purchased 70% of the outstanding common shares of Dandy Limited (Dandy) for $7,000. On that date, Dandy’s shareholders’ equity consisted of common shares of $390 and retained earnings of $5,900.

The financial statements for Handy and Dandy for Year 9 were as follows:

Additional Information

• In negotiating the purchase price at the date of acquisition, it was agreed that the fair values of all of Dandy’s assets and liabilities were equal to their carrying amounts, except for the following:

• Both companies use FIFO to account for their inventory and the straight-line method for amortizing their property, plant, and equipment. Dandy’s equipment had a remaining useful life of 10 years at the acquisition date.
• Goodwill is not amortized on a systematic basis. However, each year, goodwill is evaluated to determine if there has been a permanent impairment. It was determined that goodwill on the consolidated balance sheet should be reported at its recoverable amount of $1,240 on December 31, Year 8, and $1,080 on December 31, Year 9.
• During Year 9, inventory sales from Dandy to Handy were $5,300. Handy’s inventories contained merchandise purchased from Dandy for $2,800 at December 31, Year 8, and $3,900 at December 31, Year 9. Dandy earns a gross margin of 50% on its intercompany sales.
• On January 1, Year 5, Handy sold some equipment to Dandy for $2,400 and recorded a gain of $280 before taxes. This equipment had a remaining useful life of eight years at the time of the purchase by Dandy.
• Handy charges $50 per month to Dandy for consulting services and has been doing so throughout Years 8 and 9.
• Handy uses the cost method of accounting for its long-term investment.
• Both companies pay taxes at the rate of 40%.
• Amortization expense is grouped with selling and administrative expenses, and impairment losses are grouped with other expenses.

Required:

(a) Prepare a consolidated statement of income for the year ended December 31, Year 9. (Input all values as positive numbers. Omit $ sign in your response.)

(b-1) Calculate consolidated retained earnings at January 1, Year 9. (Omit $ sign in your response.)

Consolidated retained earnings           $ -----------------

(b-2) Prepare a consolidated statement of retained earnings for the year ended December 31, Year 9. (Amounts to be deducted should be indicated by a minus sign. Omit $ sign in your response.)

(c) Not available in Connect.

(d) Calculate goodwill impairment loss and non-controlling interest on the consolidated income statement for the year ended December 31, Year 9, under the identifiable net assets method. (Input all values as positive numbers. Omit $ sign in your response.)

(e) Prepare the consolidated financial statements using the worksheet approach. (Values in the first two columns and last column (the "parent", "subsidiary" and "consolidated" balances) that are to be deducted should be indicated with a minus sign, while all values in the "Entry" columns should be entered as positive values. For accounts where multiple adjusting entries are required, combine all debit entries into one amount and enter this amount in the debit column of the worksheet. Similarly, combine all credit entries into one amount and enter this amount in the credit column of the worksheet. Leave no cells blank - be certain to enter "0" wherever required. Omit $ sign in your response.)

ily Company has historically reported a bad debt expense amount of between 1% and 4% of sales. The percentage for any given year is a function of both the business conditions for the year and whether recent experience suggests that the estimates in past years have been too high or too low. For example, if estimates in past years have been too high, a lower amount of bad debt expense is recognized in the current year. Lily Company's board of directors has met to review the preliminary financial statements for the just-completed fiscal year. Assume that the board will decide on a bad debt estimate of either 1% or 4% of sales, consider the following two scenarios: Scenario 1. The preliminary earnings number for the year is very high, far higher than expected. However, Lily's board is concerned about future years; there is some indication of unsettled business conditions ahead. Scenario 2. The preliminary earnings number for the year is quite low, lower than expected. The board has reason to be optimistic that Lily's operating performance will turn around next year. What estimate (1% or 4%) do you think Lily's board will choose in each of the two scenarios? Explain your choices. What risks are there to Lily Company if the bad debt estimate is chosen using only the type of information given here?

1.  You expect to have $20,000 in one year. A bank is offering loans at 4% interest per year. How much can you borrow?

2. Your friend’s mom is thinking of retiring. Her retirement plan will pay her either $225,000 immediately or $325,000 five years after the date of her retirement. Which alternative should she choose if the interest rate is a. 0% per year? b. 8% per year? c. 20% per year?

a. 0% per year? b. 8% per year? c. 20% per year?

3. You are considering a savings bond that will pay $200 in 10 years. If the interest rate is 2%, what should you pay today for the bond?

Please show all work:

Assignment: You will be answering problems #1 - #4. For each problem, you will need to complete parts A through F. Please make sure you answer each part completely and you offer justification where necessary. Do all work "by hand" (not using StatCrunch) as good practice for your next exam!

A) Write the claim mathematically and state the null and alternative hypotheses.

B) Determine whether the hypothesis test is left-tailed, right-tailed, or two tailed and whether to use a z-test, a t-test, or a chi-square test. Explain your reasoning.

C) Find the critical value(s), draw a sketch identifying the rejection region(s).

D) Find the appropriate standardized test statistic.

E) Decide whether to reject or fail to reject the null hypothesis.

F) Interpret the decision in the context of the original claim.

#4) A fitness magazine claims that the mean cost of a yoga session is no more than $14. You work for a consumer advocacy group and are asked to test this claim. you find that a random sample of 21 yoga sessions has a mean cost of $15.59 and a standard deviation of $2.50. At alpha equals 0.025, do you have enough evidence to reject the magazine's claim?

Discussion Board Week 4 Day 1

No unread replies.No replies.

A. Explain what it means to serve as the patient’s advocate.

B. Discuss the importance of advocating for the patient.

C. Why is treating patients with dignity and respect important?

D. Why is trust a key to preventing lawsuits?

E. What may you write about your clinical assigned patient on Facebook?

F. How is the HIPAA Privacy Rule different from the Security Rule?

#4. You have been given a tube of E. coli. You are asked to make 1 mL total volume of 10^-1 dilution of the bacterial culture. Explain how you would do this. Show all necessary calculations.

#5 You have bacteria at a concentration of 5 x 10⁸ CFU/mL. You spread 1 mL of this sample on an agar plate to obtain isolated colonies. How many colonies do you expect to find the next day after incubation at 37⁰C? Can you count these colonies? Can you use this plate for determining concentration?

#6. You have bacteria at a concentration of 1 x 10³ CFU/mL (in real life – you don’t know this, but we are just working on math skills here). You transfer 1 mL of this sample into 9 mL of water and then spread 1 mL on a plate of agar. How many colonies do you expect to find the next day after incubation at 37⁰C? Can you count these colonies? Can you use this plate for determining concentration?

#7 You take 0.05 mL of a culture of bacteria at a concentration of 4 x 10⁷ CFU/mL, and add 4.95 mL of water to it. What is the dilution that you have performed? What is the concentration of bacteria (CFU/mL) in the diluted culture?

#8. You have diluted a sample by 1000 fold (1/1000) and plated 1 mL on an agar plate. You observe 55 colonies. What was the concentration of the original sample in CFU/mL?

#9. A bacterial sample has a concentration of 3 x10⁷CFU/mL. You make serial dilutions of 10^-3 followed by 10^-2 and 10^-1 dilutions. You finally plate 1 mL of the last dilution on an agar plate and incubate it at 37⁰C.   What is the total dilution? How many colonies do you expect to see on the plate?

Total dilution:

# of colonies expected on plate:

#10. This time, you see 10 times fewer colonies than you had expected to see.What could have gone wrong? How will you fix this problem?

Question 1 (Topic 4) - 10 marks

The unadjusted trial balance of Helena’s Hire Cars is shown below (ignore GST).

Additional information

1. Petrol purchased on credit for $680 and used during the last week in June has not been paid for or recorded.
2. A physical count showed office supplies totalling $340 were still on hand at 30 June.
3. Depreciation for 1 year on the hire cars is $12,400.
4. Prepaid advertising has a balance of $600 at the end of the month.
5. The balance in the Unearned Hire Fees account includes $1,800 received in May for hire services completed in June.

Required:

Prepare a 10-column worksheet for the year ended 30 June 2019.

Question 1
(a) Elaborate on the FOUR (4) main functions of money. [16 marks]
(b) Elaborate on the components of M2 in the Malaysian context. [You may
need to refer to Bank Negara Malaysia’s report] [14 marks]