Da Vinci's Mona Lisa was assessed for insurance in 1962 and it was valued at around 110 million. If the CPI in 1962 was 28.152 and the CPI in September 2020 is 258.310. What is the value of the Mona Lisa in September 2020 dollars?

1. 3,096.70 million

2. 1,009.32 million

3. 660.00 million

4. 11.99 million

During 2020, Canadian resident Biff Johnson has calculated his Taxable Income to be $69,600.

Instructions:

Calculate Biff's 2020 federal Tax Payable before consideration of any tax credits. Complete the six (6) blanksin the table below:

Lesson 1 Discussion 2020 unread replies.2020 replies. Answer the following question(s): How can a SWOT analysis be used in order to identify areas of opportunity and improvement? How do the people of the organization factor in to future opportunities and improvements? Please provide examples in order to illustrate your response

You are the controller for Bizbee Corporation, and a few days ago, you provided a draft of this year's financial statements to the chief executive officer (CEO) of the company, Mr. Bizbee. You rode up in the elevator with him today, and he began to quiz you about how you reported the company's investments in debt and equity securities. He said to you, "When I took accounting in college, investment securities were reported at historical cost. I remember what we paid for some of our investments, and the numbers on the financial statements don't match those amounts! What's going on? Be in my office this afternoon to explain!"

To get ready for your meeting, assemble the following:

• The valuation approach was used on the balance sheet for the investments. Provide an analysis on why you used this approach. Assume your company has only debt and equity securities where the equity interest is less than 20%. The company's debt securities are all classified as held to maturity, but it has both trading and available-for-sale equity securities.
• Assemble and evaluate which generally accepted accounting principles (GAAP) for investment securities changed from historical cost to the current valuation approach.
• Assess how investment securities should be valued on the company's financial statements.

Corporate executives make thousands of operational decisions every day on behalf of their companies. Those decisions are often made to present the best possible financial picture, but is that ethical?

Instructions

Lionel Industries, Inc. Board of Directors authorized the sale of $15,000,000 of corporate bonds in May, 2017. The treasurer, William Browning, is concerned about the date when the bonds will be issued. The company really needs the cash, but he is worried that if the bonds are issued before the December 31, 2017, year-end that the additional liability will have an adverse effect on a number of important financial ratios. In June, 2017, he explains to the company CEO Julie Friesling that if they delay issuing the bonds until immediately after December 31, 2017 the bonds will not affect the financial statements until 2018. The 2017 financial statements would then only need a footnote disclosure and Browning feels that "no one pays attention to those numerous pages of notes anyway."

Answer the following questions:

If the bond issue is delayed as Browning suggests, why would a footnote disclosure be needed in 2017?

Who are the primary financial statement users, and is Browning correct in his assumptions as to how they view the information included in the footnotes?

What ethical issues are involved in Browning's suggestion and do you think that Friesling should agree to the delay?

Hamama Sdn Bhd is a company that specialises in online school uniforms retailing. Each set school uniforms sells for RM40 each. The company expects to produce and sell 100,000 sets this year, although there is a total production capacity of 120,000 in the current factory setup. Fixed costs are RM160,000 per year. The direct costs of production are RM24 per set. Its finance director is considering a proposal to put forward by the company’s CEO to buy in a new automated sewing machine that links with new design software. Production capacity could be increased to 180,000 set per year. There are very large overheads associated with the purchase of the new machine and IT system, namely the high cost of financing these purchases. Total fixed costs would double to RM320,000 per year. Savings would be made by reducing the number of factory workers directly employed in the manufacturing process. Direct costs of production would decrease to RM18.00 per set. Research from the marketing department indicates that higher quality designs and a price reduction to RM36 would increase the demand for uniforms by 50 per cent to 150,000 sets per year.

Required: a. Construct a break-even graph to represent the current data, identifying the breakeven level of production and the safety margin.

Felix's Fine Jewelry produces fine jewelry for department stores. The following costs incurred by the company may be classified as direct materials, direct labor, manufacturing overhead, or period costs.

Classify the costs and total by classification.

Prepare an operating income statement which shows the deductions of expense in terms of total classification by category: direct materials, direct labor, manufacturing overhead, or period costs. Assume Felix's Fine Jewelry's revenue for the period was $8,000,000, and there is no change in ending inventory.

West Coast Architects (WCA) has been operating for the last ten years now. No longer the new kid on the block, the organization has steadily become more professional during your time here.
Five years ago, the company had 50 employees and now has grown to 100 staff in Vancouver, Calgary, and Toronto. You have been successful in your career as a people manager practicing what you learned in your BCIT OBRG 1105 class many years ago. You are managing an HR Department that is based out of Vancouver and has a mixture of recruiters, HR consultants, and payroll staff. You silently take stock of your situation and marvel at how lucky it has been to grow with a company that has really appreciated your contributions. That brass name plaque on your office door could use some polishing as its developing some patina!

question

COV19 has hit all of the offices. Your boss has asked you to prepare speaking points for Jane (the CEO) on how you will handle the announcement to layoff 50% of the workforce and how the change will affect them. Identify and apply the concepts of change management and leadership on what you would write for Jane to say to all staff about the layoffs

Problem 8-07A (Video)

On January 1, 2020, Harter Company had Accounts Receivable $139,000, Notes Receivable $25,000, and Allowance for Doubtful Accounts $13,200. The note receivable is from Willingham Company. It is a 4-month, 9% note dated December 31, 2019. Harter Company prepares financial statements annually at December 31. During the year, the following selected transactions occurred.

Journalize the transactions. (Omit cost of goods sold entries.) (Round answers to 0 decimal places, e.g. 5,275. Credit account titles are automatically indented when amount is entered. Do not indent manually. Record journal entries in the order presented in the problem.)