Western Europe emerged slowly out of Feudalism. As early nation states formed, it was the smaller states that had the advantage, such as Holland.   Eventually a larger England eclipsed Holland yet maintain a long-term advantage over the larger France and Spain. Ultimately, after many centuries the very large United States become the model of a successful modern, capitalist economy. If trade and population are so important, why did it take almost 1,000 years to develop a very large capitalist nation state?  

Need a few pages to write about this so as much information as possible would be nice

References and sources if possible, or any site that would help answer

Subway, the fast food restaurant franchise, announced in early 2018 it planned to bring back the “$5 Footlong” promotion. Hundreds of Subway franchise owners protested the promotion saying that they cannot afford to sell the footlong sub sandwiches for $5. You'll want to review the Subway webpage featured in the Chapter 8 module.

Assume that the costs related to a Subway footlong and a Subway franchise include the following

NOTE: Assume all subs are paid for with a credit card

Discussion Questions:

Question #1:  Bob owns a subway franchise and he is furious at the thought of offering $5.00 footlongs. His comment was “they cost us $5.41 each so we will be upside down on each sub sold. I’ll lose my shirt!”. Do you agree or disagree with Bob that this idea should be immediately rejected without any further analysis? If you don’t agree with Bob, why do you think further analysis is required?  

Question #2: What are the relevant and irrelevant costs in this pricing decision? (hint: there are 6 relevant costs)

Question #3: Can you think of any other reasons/factors besides the costs listed above that might be relevant to the pricing decision to offer the $5.00 footlongs? Use your imagination

Brookdale Hospital hired an inexperienced controller early in 20X4. Near the end of 20X4, the board of directors decided to conduct a major fund-raising campaign. They wished to have the December 31, 20X4, statement of financial position for Brookdale fully conform with current generally accepted principles for hospitals. The trial balance prepared by the controller at December 31, 20X4, follows:

Your analysis of the contribution’s receivable as of December 31, 20X4, determined that there were unrecognized contributions for the following:

Unrestricted use$40,300 Cancer research 10,800 Purchase of equipment 20,500 Permanently restricted endowment principal 32,000 Total$103,600

2. Short-term investments at year-end consist of $151,600 of funds without donor restrictions and $50,000 of funds restricted for future cancer research. All of the long-term investments are held in the permanently restricted endowment fund.
3. Land is carried at its current market value of $121,600. The original owner purchased the land for $70,500, and at the time of donation to the hospital, it had an appraised value of $97,000.
4. Buildings purchased 11 years ago for $610,500 had an estimated useful life of 30 years. Equipment costing $152,400 was purchased 7 years ago and had an expected life of 10 years. The controller had improperly increased the reported values of the buildings and equipment to their current fair value of $935,700 and had incorrectly computed the accumulated depreciation.
5. The board of directors voted on December 29, 20X4, to designate $101,700 of funds without donor restrictions invested in short-term investments for developing a drug rehabilitation center.

Answer is not complete.

In early 2001, Ride Along Corporation (Ride Along or the “Company”), a domestic company that does not meet the definition of a public business entity, began manufacturing and selling bicycles to retail stores nationally. Ride Along’s fiscal year ends on December 31, and it has been experiencing growth over the past decade. Ride Along is required to prepare and issue annual consolidated financial statements to its shareholders and the local bank. These financial statements are to be prepared in accordance with U.S. GAAP. Ride Along is 75 percent owned by a private equity firm and 25 percent owned by its founder. The founder and private equity firm plan to either take Ride Along public in an initial public offering (IPO) or sell it to an existing public company in five years. Ride Along tests goodwill for impairment annually on November 30 and has determined that each of its goodwill reporting units is a legal entity. On February 1, 2012, Ride Along acquired 100 percent ownership of a bicycle tire manufacturer, Mini Tires Company (Mini). The purposes of the acquisition were to reduce the cost associated with buying bicycle tires from third-party suppliers and for Ride Along to expand its operations by selling tires directly to retail stores. Mini met the definition of a business1 but did not meet the definition of a public business entity (PBE). The founder of Mini will work as an employee of Ride Along and has signed a two-year noncompete agreement. Ride Along paid cash of $20 million (purchase price), which resulted in goodwill of $6 million and an intangible asset (a customer list) of $2 million. During 2013, Ride Along continued to gain market share in the bicycle industry and determined it wanted to own retail stores. On June 1, 2013, Ride Along acquired 100 percent ownership of 10 independently owned retail stores and recorded $10 million of goodwill as part of the acquisitions. In January 2014, the FASB issued ASU 2014-02, Intangibles — Goodwill and Other (Topic 350): Accounting for Goodwill — a consensus of the Private Company Council. During 2014, the founder of Mini resigned from Ride Along and started a new business after his noncompete agreement expired. With his departure, 45 percent of the customers on Mini’s original customer list, which was classified as an intangible asset on Ride Along’s statement of financial condition, provided notice that they would no longer do business with Ride Along. This migration resulted in an impairment of the customer list intangible. These customers represent 35 percent of total future revenue for the Tire reporting unit and the loss of these customers reduced the fair value of Mini by 35 percent. No other management changes are expected. Even with the loss of Mini’s customers, Ride Along performed well because of the strength of the retail stores and strong bicycle sales leading to results that exceeded expectations. Therefore, Ride Along increased its revenue and operating income in its five-year forecast; cash flows continue to be positive.

Furthermore, general economic conditions are stable for all reporting units, including debt and equity markets. Ride Along is a private company that does not actively trade its shares; however, because of stable economic conditions and the Company’s increasing revenue and operating income, had Ride Along traded its shares, the value of these shares would have steadily increased. Labor costs and material for each reporting unit have increased in line with inflation and are expected to do so for the foreseeable future. As of December 31, 2014, before considering the departure of Mini’s founder, the fair value of Ride Along was $210 million (fair value by reporting unit is as follows: Bicycle, Tire, and Retail stores were 55 percent, 10 percent, and 35 percent, respectively) and the carrying value, including goodwill, was $145 million (carrying value by reporting unit is as follows: Bicycle, Tire, and Retail stores were $65 million, $20 million, and $60 million, respectively). Required 1. ASU 2014-02 is effective for annual periods beginning after December 15, 2014, and interim periods within annual periods beginning after December 15, 2015. What should Ride Along consider before deciding whether to adopt the private-company alternative in ASU 2014-02? 2. Assuming Ride Along adopts the goodwill alternative in ASU 2014-02, may Ride Along subsequently change its accounting for goodwill and revert to PBE GAAP? If so, how would Ride Along account for this change and what disclosures must it include in the consolidated financial statements? For the questions below, assume Ride Along early adopted ASU 2014-02 in 2014. 3. For the year ended December 31, 2014, describe (in detail) the analysis that Ride Along would perform to support whether its goodwill is recoverable or impaired as well as the accounting conclusion reached assuming it elected to test goodwill at the entity level. If the Company concludes that its goodwill is impaired, what would it record as the amount of the goodwill impairment? In addition, provide a separate analysis and related accounting conclusion (including the amount of the goodwill impairment charge if goodwill is impaired) assuming Ride Along elected to test goodwill at the reporting unit level. 4. Assume Ride Along (or one of its reporting units) has zero or negative equity. How would Ride Along perform its goodwill impairment assessment?

Following a pilot programme in Waitemata, a national screening programme to detect bowel cancer early is being introduced in New Zealand. People aged 60-74 years will be invited to take part in the bowel screening programme, starting from 2017.

(a) An anticipated benefit of the screening programme is a reduction in deaths from bowel cancer among people who take part in the screening programme. This benefit is more likely to occur if the programme is of high quality. Discuss how the programme should be evaluated, including the key factors you would measure in the evaluation of the screening programme.

(b) Screening programmes are known to have potential harms as well as benefits. It is important that people are given information about these potential harms and benefits before they decide whether to take part in screening. What information would you provide to people about the screening programme?

In the early 1990s, fusion involving hydrogen dissolved in palladium at room temperature, or cold fusion, was proposed as a new source of energy. This process relies on the diffusion of H2 into palladium. The diffusion of hydrogen gas through a 0.005-cm-thick piece of palladium foil with a cross section of 0.780 cm2 is measured. On one side of the foil, a volume of gas maintained at 298 K and 1 atm is applied, while a vacuum is applied to the other side of the foil. After 24 h, the volume of hydrogen has decreased by 14.2 cm3 . What is the diffusion coefficient of hydrogen gas in palladium?

In the early 1970s, the U.S. Government had a two-tiered system for crude oil prices. Oil that came from older wells (drilled a few years before) was given an approved price per barrel that was considerably lower than the price allowed for crude oil that came from "new" or more-recently dug oil wells. The idea behind the scheme was to keep gasoline prices low by making the main input into gasoline -- crude oil -- less expensive than would be oil sold to U.S. refineries that came from wells in other countries.

One oil executive, Marc Rich, came up with a scheme in which the "old oil" was secretly converted into "new oil" through false bookkeeping entries, which meant that some of the oil Rich sold to refineries had a price attached that was higher than U.S. law permitted at that time. According to the government, these "overcharges" ultimately drove the price of gasoline higher than it would have been otherwise.

However, some economists have argued that Rich's scheme actually could have resulted in lower gasoline prices for consumers. What would have needed to be the case for that scenario to have occurred? Is it plausible, economically speaking? Explain.

Q6) In early 2012, the spot exchange rate between the Swiss Franc and U.S. dollar was 1.0404 ($ per franc). Interest rates in the U.S. and Switzerland were 0.25% and 0% per annum, respectively, with continuous compounding. The three-month forward exchange rate was 1.0300 ($ per franc).

What arbitrage strategy was possible?

In early January 2020, Novak Inc., a private enterprise that applies ASPE, purchased 40% of the common shares of Washi Corp. for $402,000. Novak was now able to exercise considerable influence in decisions made by Washi’s management. Washi Corp.’s statement of financial position reported the following information at the date of acquisition:

Additional information:

Prepare the journal entry to record Novak’s investment in Washi Corp. Assume that any unexplained payment is goodwill.

Assuming Novak applies the equity method to account for its investment in Washi, prepare the journal entries to record Novak’s equity in the net income and the receipt of dividends from Washi Corp. in 2020.