Problem 2: Do a side-by-side comparison of Cascading and the following technologies in regards to writing Hadoop applications. Make sure you include the advantages and disadvantages of each, as well as when to use each technology over the other.

• Cascading vs. cascalog

Asia Pacific Ltd started operating on 1 July 2017 with 12 employees. Three years later all of those employees were still with the company. On 1 July 2019 the company hired 15 more people but by 30 June 2020 only 10 of those employed at the beginning of that year were still employed by Asia Pacific Ltd. All employees are entitled to 13 weeks’ long-service leave after a conditional period of 10 years of employment with Asia Pacific Ltd. At 30 June 2020 Asia Pacific Ltd estimates the following:

 The aggregate annual salaries of all employees hired on 1 July 2017 is now $1,200,000.

 The aggregate annual salaries of all current employees hired on 1 July 2019 is now $800,000.

 The probability that employees hired on 1 July 2017 will continue to be employed for the duration of the conditional period is 40 per cent.

 The probability that employees hired on 1 July 2019 will continue to be employed for the duration of the conditional period is 20 per cent.

 Salaries are expected to increase indefinitely at 1 per cent per annum.

The interest rates on high-quality corporate bonds are as follows:

Corporate bonds maturing in seven years 6% Corporate bonds maturing in eight years 8% Corporate bonds maturing in nine years 8% Corporate bonds maturing in ten years 10% At 30 June 2019 the provision for long-service leave was $12,000.

Required: a) Calculate the total accumulated long-service leave benefit as at 30 June 2020.

b) What amount should be reported for the long-service leave provision as at 30 June 2020 in accordance with AASB 119?

c) Prepare the journal entry for the provision for long-service leave for 30 June 2020 in accordance with AASB 119.

d) Which employee benefits are required to be discounted in accordance with AASB 119?

Riverbed Inc. applies ASPE and had the following statement of financial position at the end of operations for 2019: RIVERBED INC. Statement of Financial Position December 31, 2019 Cash $50,500 Accounts payable $ 93,000 Accounts receivable 90,000 Long-term debt 85,000 Inventory 82,000 Common shares 100,000 Machinery (net) 125,000 Retained earnings 89,500 Trademarks 20,000 $367,500 $367,500 During 2020, the following occurred: 1. Jia Inc. sold some of its trademarks. The trademarks had an unlimited useful life and a cost of $10,000. They were sold for proceeds of $19,500. 2. Machinery was purchased in exchange for long-term debt of $40,000. 3. Long-term debt in the amount of $15,200 was retired before maturity by paying $15,200 cash. 4. An additional $12,000 in common shares was issued. 5. Dividends totalling $13,500 were declared and paid to shareholders. 6. Net income for 2020 was $44,000 after allowing for depreciation of $19,000. 7. Machinery with a carrying value of $18,000 was sold at a gain of $7,000. 8. At December 31, 2020, Cash was $68,800; Accounts Receivable was $111,000; Accounts Payable was $83,000 and Inventory increased to $107,000. Prepare a statement of cash flows for the year ended December 31, 2020, using the indirect method. (Show 2.Prepare the statement of financial position as it would appear at December 31, 2020. (List Assets in order of liquidity.) 3. Calculate the following ratios: (Round current cash debt coverage ratio and cash debt coverage ratio answers to 2 decimal places, e.g. 52.75. Enter negative amounts using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).) 1. Free cash flow $ 2. Current cash debt coverage ratio to 1 3. Cash debt coverage ratio to 1

In 2018, the Westgate Construction Company entered into a contract to construct a road for Santa Clara County for $10,000,000. The road was completed in 2020. Information related to the contract is as follows: 2018 2019 2020 Cost incurred during the year $ 2,400,000 $ 3,600,000 $ 2,200,000 Estimated costs to complete as of year-end 5,600,000 2,000,000 0 Billings during the year 2,000,000 4,000,000 4,000,000 Cash collections during the year 1,800,000 3,600,000 4,600,000 Westgate Construction uses the completed contract method of accounting for long-term construction contracts.

Required: 1. Calculate the amount of revenue and gross profit (loss) to be recognized in each of the three years.

2-a.In the journal below, complete the necessary journal entries for the year 2018 (credit "Various accounts" for construction costs incurred).

2-b.In the journal below, complete the necessary journal entries for the year 2019 (credit "Various accounts" for construction costs incurred).

2-c. In the journal below, complete the necessary journal entries for the year 2020 (credit "Various accounts" for construction costs incurred).

3. Complete the information required below to prepare a partial balance sheet for 2018 and 2019 showing any items related to the contract.

4. Calculate the amount of revenue and gross profit (loss) to be recognized in each of the three years assuming the following costs incurred and costs to complete information. 2018 2019 2020 Cost incurred during the year $ 2,400,000 $ 3,800,000 $ 3,200,000 Estimated costs to complete as of year-end 5,600,000 3,100,000 0 5.

Calculate the amount of revenue and gross profit (loss) to be recognized in each of the three years assuming the following costs incurred and costs to complete information. 2018 2019 2020 Cost incurred during the year $ 2,400,000 $ 3,800,000 $ 3,900,000 Estimated costs to complete as of year-end 5,600,000 4,100,000 0

Kyla Co. prepared an aging of its accounts receivable at December 31, 2020 and determined that the net realizable value of the receivables was $580,000. Additional information for calendar 2020 follows:

At the year end December 31, 2020, Kyla Co.’s Accounts receivable balance should be

Consider an asset for which the following information is available:

The depreciation expense for the last year of this asset's useful life is

Kayden Ltd. had a current ratio of 4.24 in 2019 and 5.64 in 2020. Which of the following is the best explanation?

Annie Sweet Corporation is specialized in making wedding cakes. Customers are always required to pay a deposit equal to the full purchase price when they place orders. During the month of September 2019, Annie Sweet Corporation received $34,000 in customer deposits. The balance in its Unearned Revenue account was $14,000 at September 1, 2019 and $16,000 at September 30, 2019. How much revenue did Annie Sweet Corporation recognize during the month of September 2019?

ABC Limited is a family owned business that has been in operation for the past ten years. The
company based in Kabwe manufactures one product: desks.
ABC limited Managing Director, Mr. Aubrey Bwalwa Chuungu has been away on a business trip
to China for the past three months. He is worried that the current outbreak of the Corona virus
and the subsequent restrictions imposed on commerce by the Zambian government may have had
adverse financial consequences for the company.
You are the Management Accountant of ABC Limited.
On his return, Mr. Chuungu , who is a non-finance specialist, has requested a financial review of
the company’s financial performance for the last month , May 2020 in order to put his fears to
rest.
You have just received an email from Mr. Chuungu to conduct a financial performance analysis
for the month May, 2020.
You have retrieved the following computer printout from the company’s management accounts
for the month of May, 2020:
Actual Budget
Sales volume 4,900 units 5,000 units
Selling price per unit K11.00 K10.00
Production volume 5,400 units 5,000 units
Direct materials:
Quantity 10,600 kg 10,000 kg
Price per kg K0.60 K0.50
Direct labour:
Hours 2,970 2,500
Rate per hour K3.80 K4.00
3
Fixed overheads:
Production K10, 300 K10, 000
Administration K3,100 K3,000
ABC Limited uses a standard absorption costing system, absorbing overheads into products
using labour hours.
There was no opening or closing work-in-progress for the month of May,2020.
Required:
(a) Prepare a statement that reconciles the budgeted profit with the actual profit for the
month of May, 2020, showing individual variances in as much detail as possible.

Condensed balance sheet and income statement data for Jergan Corporation are presented here.

Additional information:

(a)

Compute the following ratios for 2019 and 2020. (Round Asset turnover and Earnings per share to 2 decimal places, e.g. 1.65. Round payout ratio and debt to assets ratio to 0 decimal places, e.g. 18%. Round all other answers to 1 decimal place, e.g. 6.8 or 6.8%.)

In 2018, the Westgate Construction Company entered into a contract to construct a road for Santa Clara County for $10,000,000. The road was completed in 2020. Information related to the contract is as follows:

Westgate Construction uses the completed contract method of accounting for long-term construction contracts.

Required:
1. Calculate the amount of revenue and gross profit (loss) to be recognized in each of the three years.
2-a.In the journal below, complete the necessary journal entries for the year 2018 (credit "Various accounts" for construction costs incurred).
2-b.In the journal below, complete the necessary journal entries for the year 2019 (credit "Various accounts" for construction costs incurred).
2-c. In the journal below, complete the necessary journal entries for the year 2020 (credit "Various accounts" for construction costs incurred).
3. Complete the information required below to prepare a partial balance sheet for 2018 and 2019 showing any items related to the contract.
4. Calculate the amount of revenue and gross profit (loss) to be recognized in each of the three years assuming the following costs incurred and costs to complete information.

5. Calculate the amount of revenue and gross profit (loss) to be recognized in each of the three years assuming the following costs incurred and costs to complete information.

Wildhorse Inc., a greeting card company, had the following statements prepared as of December 31, 2020.

Additional information:

Prepare a statement of cash flows using the indirect method. (Show amounts that decrease cash flow with either a - sign e.g. -15,000 or in parenthesis e.g. (15,000).)

Selected accounts included in the property, plant, and equipment section of Tamarisk Corporation’s balance sheet at December 31, 2019, had the following balances.

During 2020, the following transactions occurred.

(a)

Calculate the balance at December 31, 2020 in each of the following balance sheet accounts. (Hint: Disregard the related accumulated depreciation accounts.)