Glob and Dream Company provides the budgeting information for the first two quarters of the coming year 2020;

The company expects to sell their units in the first quarter by RM 20 per unit and the price will increase by 25% in the second quarter. Based on the past experiences, the sales department in the company expects to sell about 35% of the total products for cash and only 80% of the sales on account will be collected in full in the first quarter and the remainder in the second quarter.

The company comes to an agreement with the suppliers that one-fourth of the total purchase in each quarter will be paid in the same quarter and the balance will be paid in the following quarter. Amongst the quarterly selling and administration expenses RM6,400 presents property taxes and depreciation. The property tax will be paid by the end of the third quarter however, RM40,000 part of income taxes will be paid on the second quarter. Of the remainder of the selling and administrative expenses; 50% will be paid in the quarter in which they are incurred and the other 50% will be paid in the following quarter. The company has a plan to expand its business and buy a new machine which will cost RM250,000 and it will be paid in the first

The beginning balances in the first quarter are Cash RM45000, Accounts receivable RM51000 and Account payable RM121,500 (RM102,000 for materials purchases and RM19,500 for selling and administrative expenses). Based on the company policy, it is important to maintain a minimum cash balance of RM 25,000 at the end of each quarter.

Required:

Prepare the cash budget of this company for the first and second quarter of the year 2020

Typewriter Plus purchased equipment for $40,000 on September 30, 2019. The equipment has a residual value of $8,000 and estimated life of 8 years. Calculate the net book value of the equipment on December 31, 2020.

Multiple Choice

• $32,000

• $28,000

• $35,000

• $36,000

  Which of the following statements about debits is false?

  Multiple Choice

• Debits increase assets.

• Debits decrease stockholders’ equity.

• Debits increase liabilities.

• Debits decrease liabilities.

  Elephant Company calculated depreciation per year of $8,000 on a building it purchased on January 1, 2019. How much accumulated depreciation will appear in the December 31, 2020 financial statements?

  Multiple Choice

• $12,000

• $24,000

• $16,000

• $8,000

  Kettle Company received but did not pay its electric bill. What journal entry should Kettle Company record?

  Multiple Choice

• Debit utilities expense and credit utilities payable

• Debit utilities expense and credit cash

• Debit utilities payable and credit cash

• Debit utilities payable and credit utilities expense

  If a company debits an expense account, what impact does that have on stockholders’ equity?

  Multiple Choice

• Decreases stockholders’ equity

• Increases stockholders’ equity

• There is no effect on stockholders’ equity

  A transaction has been recorded in the T-accounts of Gibbs Company as follows:
  

  Cash
  1,500

  Unearned Revenue
  	1,500

  
  Which of the following could be an explanation for this transaction?

  Multiple Choice

• Gibbs has received cash for services to be provided in the future.

• Gibbs has provided services to a customer on account.

• Gibbs has completed services for which they had earlier received cash in advance.

• Cash has been paid out to a company that will provide future services to Gibbs Company.

Activity 2. Now that you know the essential terms in climate and biodiversity, let us try to check your understanding of these terms. In the space provided, differentiate the following:

1.   Deciduous forest from evergreen forest.

2.   Woodland from shrubland

3. Tropical rainforest from tropical seasonal forest

4. Savanna from thornwood

5. Weather and climate

Supreme Fish is a company involved in fish farming in Vietnam. Its products are sold to supermarkets as well as restaurants throughout the world. Supreme Fish has a global market share of 40% for this type of fish. Supreme Fish has a US$150 million, 15 year bond issued 2 years ago. The bond pays a premium of 500 basis points over the SOFR. The bond is not rated. However, based on its yield, an equivalent rating would be BB. An institutional investor intends to sell its holdings of US$5 million of the bonds. As a buy-side bond analyst, you have been tasked to analyse the suitability of the bond for your fund.

Assess the credit risk issues related to the bond.

Please give me the correct answer:

Jacobs Engineering Group had its target price increased by analysts at KeyCorp from $82.00 to $86.00 in a research note issued to investors on Wednesday, Benzinga Ratings Tables reports. The firm currently has an "overweight" rating on the construction company's stock. KeyCorp's price target indicates a potential upside of 7.69% from the company's current price. Other research analysts have also issued research reports about the company. MKM Partners lifted their price target on Jacobs Engineering Group to $87.00 and gave the stock a "buy" rating in a report on Tuesday, February 26th. ValuEngine upgraded Jacobs Engineering Group from a "hold" rating to a "buy" rating in a report on Monday, February 25th. Cowen set a $82.00 price objective on Jacobs Engineering Group and gave the stock a "buy" rating in a report on Wednesday, February 20th. Citigroup set a $83.00 price objective on Jacobs Engineering Group and gave the stock a "buy" rating in a report on Wednesday, February 20th. Finally, Robert W. Baird set a $83.00 price objective on Jacobs Engineering Group and gave the stock a "buy" rating in a report on Wednesday, February 20th. Two equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company's stock. Jacobs Engineering Group has a consensus rating of "Buy" and a consensus target price of $84.55.

The case above reports that two of the equities research analysts have rated the stock with a “hold” rating. If the two equities research analysts are right, what results must have found about the value of Jacobs Engineering Group’s common stock?

1. Two equities research analysts found that the current market price of common stock for Jacobs Engineering Group is above the book value of Jacobs Engineering Group’s common stock.

2. Two equities research analysts found that the current market price of common stock for Jacobs Engineering Group is equal to the intrinsic value of Jacobs Engineering Group’s common stock.

3. Two equities research analysts found that the current book of common stock for Jacobs Engineering Group is above the intrinsic value of Jacobs Engineering Group’s common stock.

4. Two equities research analysts found that the intrinsic value of common stock for Jacobs Engineering Group is above to the current common stock price of Jacobs Engineering Group.

5. none of the answers is correct.

Benchmark, the Silicon Valley venture firm and early investor in Uber, has sued former CEO Travis Kalanick.

In a Delaware Chancery Court filing, originally identified by Axios’ Dan Primack, the suit alleges that Kalanick committed fraud, breach of contract and breach of fiduciary duty. Both Kalanick and Benchmark hold Uber board seats.

Accusing Kalanick of being “selfish” by packing Uber’s board with “loyal allies,” Benchmark alleges that the ousted CEO broke the law by trying to pave the way.

The board of directors and corporate managers work together and at times, because they know each other well, there could be an entrenchment among them. As the alleged claim is true CEO Travis Kalanick committed fraud, breach of contract and breach of fiduciary duty to benefit himself, what kind of problem in a corporation describes the situation the best?

1. managers benefiting themselves rather than the shareholders of the company is called “fiduciary problem.”

2. managers benefiting the shareholders of the company rather than themselves is called “corporate governance.”

3. managers benefiting the shareholders of the company rather than themselves is called “agency problem.”

4. none of the answers is correct.

5. managers benefiting themselves rather than the shareholders of the company is called “agency problem.”

Pomerantz LLP is investigating claims on behalf of investors of EQT Corporation (“EQT” or the “Company”). The investigation concerns whether EQT and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
On June 19, 2017, EQT announced entry into an agreement to acquire Rice Energy Inc. (“Rice”) for total consideration of $6.7 billion (the “Acquisition”). EQT touted the purported benefits of the proposed merger, telling its shareholders that the Acquisition would result in $2.5 billion in synergies, including $100 million in cost savings in 2018 alone. On July 3, 2017, activist investor JANA Partners LLC (“JANA”), in several letters citing detailed evidence, asserted that the Rice merger synergies were “grossly exaggerated” and that according to JANA’s expert analysis, “it would be impossible for EQT to support its claimed synergy drilling plan.” Nonetheless, EQT repeatedly denied JANA’s assertions and reassured investors of the merits of the Acquisition. EQT and Rice shareholders thereafter approved the Acquisition. After the Acquisition closed in November 2017, EQT continued to tout the “significant operational synergies” or the merger that would purportedly allow EQT to become “one of the lowest-cost operators in the United States.” On March 15, 2018, just five months after the Acquisition closed, EQT announced the sudden and unexpected resignation of Steven T. Schlotterbeck as the Company’s Chief Executive Officer. Then, on October 25, 2018, EQT reported surprisingly bad third-quarter financial results caused by a significant increase in total costs, which were $586.2 million higher than in the same period of the prior year. Moreover, EQT disclosed that its estimated capital expenditures for well development in 2018 would increase by $300 million, to $2.5 billion, as a result of “inefficiencies from higher activity levels, the learning curve on ultra-long horizontal wells, and service cost increases.” As a result, EQT reduced its full-year forecast for 2018. These disclosures were at odds with EQT’s prior representations concerning the purported synergies of the Acquisition.
On this news, EQT’s stock price fell $2.79 per share, or 12.65%, to close at $19.24 per share on October 25, 2018.

Which one of the goals will be appropriate for Steven T. Schlotterbeck as the Company’s Chief Executive Officer to follow?

1. Shareholders wealth maximization.

2. Short-term profit maximization.

3. Sales and net income maximization.

4. Free cash flow maximization.

5. none of the answers is correct.

When Ultra Petroleum Corp. emerges from bankruptcy protection in the coming weeks, as expected, the natural gas producer's chief executive is on track to be rewarded with roughly $35 million worth of its stock, more than 10 times his annual compensation in recent years.

Michael Watford, the CEO, and other employees at the Houston company are sharing 7.5% of the Ultra's new shares, a fairly typical cut awarded to managers of companies emerging from bankruptcy protection to incentivize them to stick around. Bankrupt companies usually issue new stock when they emerge from bankruptcy, replacing their old shares.

What's unusual in Ultra's case is the size of the pie from which that slice is coming: The company's postbankruptcy equity value has been set at about $4 billion, meaning that its employees are due some $300 million of stock, 40% of it to be doled out the day its new shares are launched, according to court filings and people familiar with the matter. The rest would be distributed at the discretion of its board.

While Ultra Petroleum Corp. emerges from bankruptcy protection, Michael Watford, the CEO of the company, will be rewarded with roughly $35 million worth of its stock. Do you think this is consistent with the firm’s goal?

1. The amount of the award is outrageous, and it is inconsistent with the sales maximization goal.

2. none of the answers is correct.
3. There's more to Uber IPO flop than meets the eye: It’s clear now that Uber Technologies Inc’s initial public offering will be left with a less than five-star review. The stock remains below its IPO price, and many people have heaped fault on the bankers who told executives that Uber could be worth $120 billion.

4. Even though the amount awarded is outrageous, the incentivizing top managers with bonuses is consistent with the shareholders wealth maximization goal.

5. Even though the amount awarded is outrages, the incentivizing top managers with bonuses is consistent with the shareholders sales maximization goal.

6. The amount of the award is outrageous, and it is inconsistent with the shareholders wealth maximization goal.

Do larger universities tend to have more property crime? University crime statistics are affected by a variety of factors. The surrounding community, accessibility given to outside visitors, and many other factors influence crime rate. Let x be a variable that represents student enrollment (in thousands) on a university campus, and let y be a variable that represents the number of burglaries in a year on the university campus. A random sample of n = 8 universities in California gave the following information about enrollments and annual burglary incidents.

(b) Use a calculator to verify that Σx = 149.0, Σx² = 3193.22, Σy = 243, Σy² = 9985 and Σxy = 5280.8.

Compute r. (Round to 3 decimal places.)

Consider a simple model to estimate the effect of personal computer (PC) ownership on college grade point average for graduating seniors at a large public university
GPA= β0+ β1PC+u
where PC is a binary variable for graduating seniors at a large public university
Why might PC ownership be correlated with u?
Explain why PC is likely to be related to parents’ annual income. Does this mean parental income is a good IV for PC? Why or why not?
Suppose that, four years ago, the university gave grants to buy computers to roughly one-half of the incoming students, and the students that received grants were randomly chosen. Carefully explain how you would use this information to construct an IV for PC.
Using the IV you describe in (c), state the two equations/models you would use in a 2 staged least squares estimation:

The university wants to examine whether students spend enough time on their remote classes after switching to the online teaching. The university staff sends a survey to 50 random students and asks for the study time per week after the spring break. The mean study time per week of the sample is 25.5 hours. It is believed that the population standard deviation is 3.5 hours. The university wants to know whether the students have spent at least 23 hours per week on average in their remote study.

 What is the correct form of the statistical hypothesis?

 What is the value of the test statistics?

 If you decide to use the critical value approach to perform the test, what is the corresponding critical value for the test at 95% confidence level?

 If you decide to use the P-value approach to perform the test, what is your P-value?

 What is your conclusion at the 95% confidence level?

The table below summarizes the replies of 300 randomly selected university graduates who participated in a nationwide survey:

(a) Determine the expected numbers, assuming the degree of job satisfaction is independent of type of program taken at university (i.e. there is some association between degree of job satisfaction and the type of program). Fill your answers into the table above.

(b) Use the Chi-square test with α = 0:05 to test the hypothesis that the degree of job satisfaction depends on the type of program taken at university.

i) H₀:

H_a:

Observed Test Statistic (x² statistic):

ii) p-value (use x² table):

Decision with justification:

Conclusion in context:

The acceptance rate for a university is 42 percent. Assuming the binomial to the normal distribution. Of the next 10 applications what is the probability that they will accept: (WHEN ROUNDING DO NOT ROUND ANY CALCULATION UNTIL THE VERY END)

a) Find the mean: μ = n ⋅ p =  round to a single decimal.

b) Calculate the standard deviation. σ = n ⋅ p ⋅ q =  . Round to 4 decimals.

c) Determine the probability that exactly four applicants will be accepted.  round to 4 decimals

d) Determine the probability that between four and six applications will be accepted.  round to 4 decimals.

e) Determine the probability that at least two of the applicants will be accepted. (You may use the complement rule here).  round to 4 decimals.

f) What is the probability for the university to accept none or more than 7 applications?  Round to 4 decimals. Would it be unusual for the university to accept no or more than 7 applicants?  Yes/No.