Amazon's third-largest market is the United Kingdom. In 2019, the employees at a local firm in London received their salary and decided to spend a portion of it on making online purchases from Amazon. The probability that the online purchases will be shipped on time to each employee is 0.68. Determine the following:

a. The probability that three products will be shipped on time.

b. The probability that out of three, two products will be shipped on time.

Sony is a Japanese multinational company that decided to expand its entertainment business in the United States. Sony purchased CBS Records and Columbia Pictures to form Sony Music and Sony Pictures. Because of these acquisitions, Sony assumed debt of $1.2 billion and allocated $3.8 billion to goodwill. On Sony’s Annual Report filed with the SEC, Sony reported only two industry segments: electronics and entertainment. Although Sony Music was profitable, Sony Pictures produced continued losses of approximately $1 billion. When Sony purchased the motion pictures operations, it projected a loss for only five years because it assumed that the motion pictures entertainment would become profitable. However, Sony suffered a significant loss after amortization and the costs of financing the acquisition for the past four years.

In the current year, Sony Pictures sustained a loss of nearly $450 million, double the amount that Sony had planned. To date, Sony Pictures has had total net losses of nearly $1billion. Early in the year, Sony declared that it had written down $2.7 billion in goodwill associated with the acquisition of Sony Pictures. Sony combined the results of Sony Music and Sony Pictures and reported them as Sony Entertainment. Little profit was shown in Sony Entertainment. Sony’s consolidated financial statements did not disclose the losses from Sony Pictures.

REQUIRED

1. How should the write down of goodwill be reported? What information (if any) should be disclosed related to goodwill?

2. Since Sony has two businesses with different financial trends, should the consolidated financial statements provide specific segment disclosure information? What should the company disclose?

3. Reporting insufficient information or excluding required disclosures can be misleading or perceived as unethical. What ethical standards applicable to Sony’s reporting?

You may respond to each requirement separately, i.e. your response does not have to flow as a single paper.

NOTE: Please Support your discussion with REFERENCE to FASB Codification and reputable sources (NOT Wikipedia, Investopedia or Blogs).

United Resources Company obtained a charter from the state in January of this year. The charter authorized 201,000 shares of common stock with a par value of $2. During the year, the company earned $478,000 Also during the year, the following selected transactions occurred in the order given:

a. Sold 97,000 shares of the common stock in an initial public offering at $19 cash per share.

b. Repurchased 25,000 shares of the previously issued shares at $22 cash per share.

c. Resold 5,000 of the shares of the treasury stock at $25 cash per share.

Required:

Prepare the stockholders' equity section of the balance sheet at the end of the year.

1) An entity in the United Kingdom, sells goods to a Swiss entity on May 1, 2012 for the amount of 750,000 Swiss francs (SWFr). The payment is received August 1, 2012. The rate of Exchange from May 1, 2012 £1 = SWFr 3.5544. 1. August 2012, was £ 1 = SWRf 3.7081.

The accounting year of the company closes on September 30, 2012 and the currency in which the financial statements are reported in British pounds.

Record this transaction in the books of the company.

Indicates the amount of the balance of the accounts receivable and if there is gain or loss on that account as a result of the exchange rate.

2) The company Rose bought an asset by the amount of €12000 a foreign company on January 3, 2012. By that date the exchange rate between the two currencies involved was 1FC (foreign currency) = € 2. The currency in which Rose keeps its accounts is in foreign currency. In the statement of financial situation of June 30, 2012, the foreign currency exchange rate was 1FC = €1.50.

Displays entries that Rose must do to register the initial transaction and those required for the date of the balance sheet (in terms of gain or loss as a result of the exchange rate).

1) An entity in the United Kingdom, sells goods to a Swiss entity on May 1, 2012 for the amount of 750,000 Swiss francs (SWFr). The payment is received August 1, 2012. The rate of Exchange from May 1, 2012 £1 = SWFr 3.5544. 1. August 2012, was £ 1 = SWRf 3.7081.

The accounting year of the company closes on September 30, 2012 and the currency in which the financial statements are reported in British pounds.

a)Record this transaction in the books of the company.

b)Indicates the amount of the balance of the accounts receivable and if there is gain or loss on that account as a result of the exchange rate.

2) The company Rose bought an asset by the amount of €12000 a foreign company on January 3, 2012. By that date the exchange rate between the two currencies involved was 1FC (foreign currency) = € 2. The currency in which Rose keeps its accounts is in foreign currency. In the statement of financial situation of June 30, 2012, the foreign currency exchange rate was 1FC = €1.50.

Displays entries that Rose must do to register the initial transaction and those required for the date of the balance sheet (in terms of gain or loss as a result of the exchange rate).

United Motors specializes in producing one specialty vehicle. It is called surfr and is styled to easily fit surfboards in its back area and top-mounted storage racks: United has the following manufacture costs:

Plant management​ costs, 1,464,000 per year

Cost of leasing equipment 2.328,000 per year

Workers wages $700 per suffer vehicle produced

Direct material costs, Steel $1,500 per Surfer; Tires $130 per tire, each surfer take 5 tires (one spare) City license, which is charged monthly based on the numbers of tires used in production

Merrythought is a business that makes teddy bears, located in Ironbridge, Shropshire, in the United Kingdom. The business was founded years ago by Gordon Holmes. It is a private limited company, still owned by the Holmes family and is currently run by Gordon Holmes’s great-granddaughter Sarah Holmes.

The business has approximately 25 employees and does all its manufacturing in England. It makes a large number of different styles of teddy bears, ranging from “traditional British bears, to special occasion bears and various “ novelty’ bears.

1. Identify and define the type of business the Holmes family is conducting. Justify your answer
2. List its advantages and disadvantages.

1. The 80% rule states that, in order to collect the full amount of a partial loss, you must have insurance on 80% of a home’s:
   1.      Current market value
   2.     Market value at the time of purchase
   3.      Current replacement cost
   4.     None of the above.