The following data applies to the two unrelated companies Aldi Ltd    Wooli Ltd:

All taxable and deductible temporary differences relate to the profit or loss. Assume a corporate tax rate of 30%.

1. For each company, prepare the journal entries to record the current and deferred tax for 30 June 2020. Show all calculations

2. For each company, prepare the income tax section of the statement of profit or loss and other comprehensive income for the year ended 30 June 2020, and show the note disclosure for the current and deferred components of income tax expense.

Complete the journal entries as necessary for both Part 1 and Part 2.

Part 1. Transaction

1. On January 1st of 2020, Casey bought 10% of Apple 100,000 shares of outstanding common stock at $20 a share.

2. On December 31, 2020 Apple reported $40,000 of net income and paid $20,000 of dividends.

3. On December 31, 2020, the market price of stock was $ 25 a share. Assume there was a zero balance in the fair value adjustment account.

Part 2. Complete the journal entries as required: Transaction

4. On January 1st of 2020, Casey bought 30% of Apple 100,000 shares of outstanding common stock at $20 a share and has significant influence.

5. On December 31, 2020 Apple reported $40,000 of net income and paid $20,000 of dividends.

6. On December 31, 2020, the market price of stock was $ 25 a share. Assume there was a zero balance in the fair value adjustment account before this transaction.

Question No. 1 (Marks 15)

C Company’s forecasted 2020 financial statements are given below, along with industry average ratios.                                                                                    

C Company: Forecasted Balance sheet as of December 31, 2020

C Company: Forecasted Income Statement for the year ended December 31, 2020

Per Share data            

EPS                                                                                                     4.71

DPS                                                                                                     .95

Market Price Per Share                                                                       23.57

P/E Ratio                                                                                             5 times

Total No. of Shares                                                                             23,000

Industry Average Ratios - 2020

Quesytion : Calculate C Company’s forecasted Ratios, compare them the industry average data and comment briefly on strength and weaknesses of the company ?

Question

C Company’s forecasted 2020 financial statements are given below, along with industry average ratios.                                                                                    

C Company: Forecasted Balance sheet as of December 31, 2020

C Company: Forecasted Income Statement for the year ended December 31, 2020

Per Share data            

EPS                                                                                                     4.71

DPS                                                                                                     .95

Market Price Per Share                                                                       23.57

P/E Ratio                                                                                             5 times

Total No. of Shares                                                                             23,000

Industry Average Ratios - 2020

Required: Calculate C Company’s forecasted Ratios, compare them the industry average data and comment briefly on strength and weaknesses of the company.

The marketing department of Metroline Manufacturing estimates that its sales in

2020 will be $1.53 million. Interest expense is expected to remain unchanged at $39,000 , and the firm plans to pay

$71,000 in cash dividends during

2020. Metroline Manufacturing's income statement for the year ended December 31, 2019 , is given

, along with a breakdown of the firm's cost of goods sold and operating expenses into their fixed and variable components.

a. Use the percent-of-sales method to prepare a pro forma income statement for the year ended December 31,2020.

b. Use fixed and variable cost data to develop a pro forma income statement for the year ended December 31, 2020.

c. Compare and contrast the statements developed in parts a. and b. Which statement probably provides the better estimate of 2020 income? Explain why.

(a) Give an example of a collection of closed sets whose union is not closed.

(b) Give an example of a collection of open sets whose infinite intersection is not open.

Thank you!

Following are financial statement numbers and select ratios for Target Corp. for the fiscal year 2016 (ending January 28, 2017).
              

Forecast assumptions and other financial information for Target are as follows:

Use the residual operating income (ROPI) model to estimate the value of Target’s equity, per share at fiscal year-end.
Target Corp. shares closed at $53.82 per share on March 8, 2017, the date the 10-K was filed with the SEC. How does your valuation compare with this closing price?

Following are financial statement numbers and select ratios for Target Corp. for the fiscal year 2016 (ending January 28, 2017).
              

Forecast assumptions and other financial information for Target are as follows:

Use the residual operating income (ROPI) model to estimate the value of Target’s equity, per share at fiscal year-end.
Target Corp. shares closed at $53.82 per share on March 8, 2017, the date the 10-K was filed with the SEC. How does your valuation compare with this closing price?

Consider what you have learned about the shape normal distribution and specifically about the Empirical Rule. Please compare and contrast Roger’s Innovation Adoption Curve with what you have learned. Be as specific as possible in your explanations making reference to Roger’s Innovation Adoption Curve, the normal distribution, and the Empirical Rule .

In each problem show all steps of the hypothesis test. If some of the assumptions are not met, note that the results of the test may not be correct and then continue the process of the hypothesis test.

1. The Kyoto Protocol was signed in 1997, and required countries to start reducing their carbon emissions. The protocol became enforceable in February 2005. In 2004, the mean CO2 emission was 4.87 metric tons per capita. Table 7.3.3 contains a random sample of CO2 emissions in 2010 ("CO2 emissions," 2013). Is there enough evidence to show that the mean CO2 emission is lower in 2010 than in 2004? Test at the 1% level. Table #7.3.3: CO2 Emissions (in metric tons per capita) in 2010 (1.36 1.42 5.93 5.36 0.06 9.11 7.32 7.93 6.72 0.78 1.80 0.20 2.27 0.28 5.86 3.46 1.46 0.14 2.62 0.79 7.48 0.86 7.84 2.87 2.45)

2. Table #7.3.7 contains pulse rates after running for 1 minute, collected from females who drink alcohol ("Pulse rates before," 2013). The mean pulse rate after running for 1 minute of females who do not drink is 97 beats per minute. Do the data show that the mean pulse rate of females who do drink alcohol is higher than the mean pulse rate of females who do not drink? Test at the 5% level. Table #7.3.7: Pulse Rates of Woman Who Use Alcohol (176 150 150 115 129 160 120 125 89 132 120 120 68 87 88 72 77 84 92 80 60 67 59 64 88 74 68)

3. Maintaining your balance may get harder as you grow older. A study was conducted to see how steady the elderly is on their feet. They had the subjects stand on a force platform and have them react to a noise. The force platform then measured how much they swayed forward and backward, and the data is in table #7.3.10 ("Maintaining balance while," 2013). Do the data show that the elderly sway more than the mean forward sway of younger people, which is 18.125 mm? Test at the 5% level. Table #7.3.10: Forward/backward Sway (in mm) of Elderly Subjects (19 30 20 19 29 25 21 24 50)