Employers often select applicants based on whether they hold an academic degree. In most countries, universities need to be granted charters from government to be able to award academic degrees to their students. In return, universities must abide by comprehensive and detailed government regulations upholding appropriate standards for teaching, examination and lecturers. Use the theories of market failure and government intervention to explain the reasons for government intervention into the market for higher education. Critically discuss potential problems with these interventions.

Employers often select applicants based on whether they hold an academic degree. In most countries, universities need to be granted charters from government to be able to award academic degrees to their students. In return, universities must abide by comprehensive and detailed government regulations upholding appropriate standards for teaching, examination and lecturers. Use the theories of market failure and government intervention to explain the reasons for government intervention into the market for higher education. Critically discuss potential problems with these interventions.

Leading a multicultural workforce: Globalisation and cultural diversity

Report:

• Introduction
  Overview of the issue and relevant theoretical perspective / model / concepts (e.g., definitions).

• Analysis
  Discussion of analysis of a leadership issue or trend (local or global).

• Recommendations
  Practical implications and suggestions relevant to addressing the issue, leadership effectiveness and development.

• Conclusion
  Key insights and takeaways about the topic.
  

Reference List
At least 5 academic references use non-academic sources sparingly; Harvard style.

Bayside, Inc.

2004 and 2005 Balance Sheets

($ in thousands)

                                         2004      2005                                                          2004      2005

        Cash                      $     70   $   180               Accounts payable                   $1,350   $1,170

         Accounts rec.              980        840               Long-term debt                          720       500

       Inventory                   1,560     1,990              Common stock                         3,200     3,500

       Total                        $2,610   $3,010              Retained earnings       940     1,200

        Net fixed assets        3,600     3,360        

        Total assets               $6,210  $6,370              Total liabilities & equity               $6,210   $6,370

Calculate the following: for 2005 only (You will show your work and put it in the drop box).

Additional Information at the end of 2005:

Fair Market Value of the Stock $190 per share

Number of Common Shares Outstanding 100,000

Dividends paid during 2005 - $4 per share

Calculate the Average Days Sales for Collecting Receivables.

Carry your answer two decimal points. 33.0899 would be entered as 33.09

If this companies terms are Net 15 on items it sells and its Average Days Sales for collecting those receivables is 39 days, should the company be concerned?

Explain this Profit Margin Percentage. What does it mean?

Calculate the Earnings Per Share for the company.  (Net Income/Oustanding Shares)

Carry your answer two decimal points. 23.0899 would be entered as 23.09

Calculate the Price to Earnings Ratio.

Carry your answer two decimal points. 23.0899 would be entered as 23.09

If the industry Price to Earnings ratio is at 15, what could account for the difference from the industry average?

Beginning Retained Earnings $100,000

Dividends Paid for the Year $20,000

Net Loss for the Year $30,000

Based on the information above, the Ending Retained Earnings Balance will be?

Enter your answer without dollar signs and no commas. Example $4,000 would be entered as 4000

REQUIRED

Post all transactions, adjusting and closing entries for Midnight Oil for the fiscal year ending December 31, 2004.

MIDNIGHT OIL (MO)

Midnight Oil (MO) was formed as a private corporation on January 1, 2003, by Hanna Carins. Although Carins had been making candles in her basement in Port Stanley for years to give as gifts, she had decided to expand her operations in order to generate additional income. Port Stanley, a small town bordered by Lake Erie, was about 30-minutes drive from London, Ontario. The town attracted many tourists to its beaches, making it an ideal locale for the sale of specialty candles. Carins’ second fiscal year had just ended, and she was anxious to discover how profitable it had been.

PRODUCTION PROCESS AND FIXED ASSETS

Carins used several pieces of equipment to manufacture her signature cube candles. The first, a large stove burner, was used to melt the raw, solid wax. Carins had purchased the burner on the first day of operations for $4,500 and had amortized it using the straight-line method over 10 years.¹ The burner worked well until May 1, 2004, when Carins spent $900 to repair the heating mechanism. This unexpected repair was paid for with cash and was expected to add on additional year to the burner’s useful life. Its salvage value would remain the same.

Large pots, used to melt the wax, deteriorated quickly and were amortized using the units-of-output method. Their total original cost was $2,200, with an estimated$200 salvage value after approximately 700 batches. The pots had been used for 275 batches by early November of fiscal 2004 in anticipation of the Christmas season, and on November 8, 2004, Carins decided to scrap all the pots. Carins received $100 from a wrecker for the metal. The following day, Carins purchased new large pots for a total cost of $2,900 cash. She decided to amortize the new pots using the same method of amortization as the old pots (including the original life of 700 batches) buy decided on a $00 salvage value. The new pots were used to make a total of 40 batches from November 9, 2004, to December 31, 2004.

Three moulds were used to form the melted wax into the square shape that Carins had designed. These moulds were amortized using the double-declining-balance method, had useful life of five years and were expected to have a salvage value of $150 each. Each mould had originally cost $1,200, not including transportation costs of $75 each. On the first day of fiscal 2004, each mould had a net book value of $765.

In additional to the office equipment listed on the fiscal 2003 balance sheet (see Exhibit 1), Carins had purchased a new printer for $1,000 on January 1, 2004, to make her invoices look more professional. The printer had been purchased using a 90-day note payable that carried four per cent annual interest and had been paid in full in cash on the maturity date. Carins planned to amortize the printer using the same method as the rest of the office equipment.

MANUFACTURING FACILITY

Originally, Carins had believed she could operate out of her basement, but she quickly realized more space was needed. In early June 2003, Carins began renting a small 500-square-foot workspace in Port Stanley for $450 per month paid with cash on the last day of each month. Upon signing the three-year lease, Carins had been required to pay both first and last month’s rent. The manufacturing area represented 450 square feet, and the remaining space was used for Carins’s office.

Utilities for the rented workspace had totaled $1,100 in fiscal 2004, but Carins had recorded payments by cheques for $1,150. Carins allocated utilities costs based on space occupied. Insurance covering production operation only was purchased annually on January 1 with cash and had cost $800 in fiscal 2003. The premium had increased by 10 per cent in fiscal 2004.

WAGES AND SALARIES

While Carins did perform some of the manufacturing herself, she needed two part-time workers to help make the candles. The part-time employees earned $7.15 per hour, and each had worked 250 hours in fiscal 2004. All wages had been paid in full. Carins had been compensating herself generously ($2,000 per month), and she thought that 50 per cent of her time was spent actually making the candles. On top of her monthly salary, depending on the results for fiscal 2004, Carins would decide whether to issue herself, as the shareholder, a dividend subsequent to year-end.

OTHER DISBURSMENTS

Carins had paid the following miscellaneous costs with cash: $684 for fiscal 2003 income taxes, $260 for the telephone, $500 in promotional materials, and $65 for transportation to customers. MO had also established a petty cash fund for $110 on December 30, 2004.

Carins had required a bank loan to help cover the initial costs of the production equipment and inventory. The loan was listed on the balance sheet and was being paid back in equal annual installments of $500, paid on the first day of the fiscal year beginning January 1, 2004. Carins paid five per cent interest on the loan amount outstanding at the end of each year. Both the loan and the interest were paid with cash.

SALES

All of MO’s customers purchased their candles with cash. By the end of the year, MO had six regular customers whose purchases had totaled $49,000.² Discounts had not been offered in fiscal 2004.

INVENTORIES

Oil, used to coat the moulds, was the only production supply required. Carins had purchased $170 worth of supplies in fiscal 2004 with cash, and she had $25 worth of supplies remaining on December 31, 2004.

MO used the weighted-average-cost method of inventory valuation to determine the value of wax at year-end. Carins had started fiscal 2004 with 20 kilogram of wax, had purchased 310 kilograms,³ and counted only five kilograms on hand on December 31, 2004. Glaxen Inc. was MO’s only supplier. Glaxen shipped FOB destination and demanded cash on delivery. Carins remembered that a shipment had been ordered for 24 kilograms on December 27. The shipment had cost $245 but had not yet arrived in Port Stanley. Wax covered rope wicks were also included in the raw materials account. No purchases had been made in the year, and Carins estimated $11 worth of wicks remained on hand.

Some candles were partially completed at the end of December 31, 2004. Carins estimated that an allocation of $120 of her salary had five hours of part-time work had been spent manufacturing the candles, and that $40 of raw materials had been used so far. Carins used direct labor dollars as the proxy for determining partial factory overhead.

Finally, Carins had counted 70 finished candles in the small storage area and had no record of any damaged candles.

MO paid corporate tax at a rate of 20 per cent.

REQUIRED

Post all transactions, adjusting and closing entries for Midnight Oil for the fiscal year ending December 31, 2004.

¹Carins expected a salvage value of $500 at the end of the burner’s useful life

²Representing 4,640 candles

³For a total cost of $936

¹Raw materials – wax ($30); raw materials – wicks ($23); finished goods ($95, representing 30 candles).

^2The office equipment was amortized using the straight-line method over 10 years with no salvage value

³Relates to utilities used but not paid as at year-end.

⁴MO paid corporate income tax at a rate of 20 per send.

CASE STUDY

Christopher aged 12 (White UK), Amy aged 8 (dual heritage Caribbean/White UK) and Kerry aged 3(dual heritage Caribbean/White UK) have been removed from their mother (White UK) who is an alcoholic and who attacked Christopher in a drunken rage after Amy disclosed sexual interference by him.

The children do not have the same father and Kerry’s father, Andy (UK born Caribbean) recently left the family home after social services discovered he has sexual offences against children. (This was brought to light when Andy’s other child Mary aged 14 went to social services and informed them about her father and abuse in the family. This is the basis of the previous task above). Their maternal grandfather (White UK), is also a sex offender and it is suspected that he has had unsupervised contact with the children. The maternal grandmother (White Irish), suffered from psychotic illness throughout her life and is currently in hospital.

Amy and Kerry are also displaying sexualised behaviour and Christopher is vey aggressive. He has bitten the foster carer and has been excluded from school for hitting other children and sexual interference with another child.

Amy and Christopher are not doing well in school in any event. They are not learning and are shunned by the other children. The foster care finds faeces about the house and suspects it is Christopher, who has also been discovered hording food in his bedroom.

Kerry is showing signs of developmental delay. She does not give eye contact, she head bangs and does not like to be touched. She was extremely distraught to be removed from her mother and absolutely will not accept comfort from the foster carer, but occasionally will do so from Christopher and Amy.

USING THE SYSTEMIC THEORY AND ANSWER THE QUESTIONS BELOW

1. An exploration of the risk factors in the case scenario with reference to the appropriate literature on risk, safeguarding and assessment.​

2, A consideration of the legal and ethical issues that arise from this case

3. A critical exploration of one method of intervention that might be appropriate to use with this family and a consideration of its relative strengths and limitations​

4, A critical exploration of one theory or perspective that might help social workers understand individual family members or the family as a whole, and their particular circumstances​

5. A critical exploration of the family’s cultural background and the impact of any structural oppression and discrimination​

6. A consideration of any value issues this case raises for you

Compute and Interpret Z-score

Balance sheets and income statements for Lockheed Martin Corporation follow. Refer to these financial statements to answer the requirements.

As of December 31, there were the approximate shares outstanding:
2005 - 434,264,432
2004 - 440,445,630

As of December 31, the company's stock closed at the following values:
2005 - $63.63
2004 - $55.55

(a) Compute and compare the Altman Z-scores for both years. (Do not round until your final answer; then round your answers to two decimal places.)
2005 z-score = Answer
2004 z-score = Answer

Which of the following explain the trend in the Z-scores from 2004 to 2005? (Select all that apply.)
Answeryesno The market value of Lockheed's equity improved somewhat over the year.
Answeryesno Lockheed decreased its liquidity due to an increase in retained earnings.
Answeryesno Lockheed improved its short-term liquidity by increasing cash.
Answeryesno Lcokheed improved its long-term liquidity by decreasing total liabilities.

(b) Which of the following statements best describes the company's Altman Z-scores?

The Altman Z-scores have increased from 2004 to 2005 which indicates the company's bankruptcy risk has decreased. YES? OR NO

Both the Altman Z-scores are above 3.00 which indicate the company has a very low probability of bankruptcy. YES? OR NO

Both the Altman Z-scores are below 1.80 which indicate the company has a very high probability of bankruptcy. YES? OR NO

The Altman Z-scores have decreased from 2004 to 2005 which indicates the company's bankruptcy risk has increased. YES? OR NO

Consider the ODE y''(x) = λy(x) for some real constant λ. Determine ALL values of λ for which there exists solutions satisfying the boundary conditions y(0) = y(10) = 0. For each such λ, give all possible solutions. Are they unique?

what features would you expect to find at a convergent plate boundary? Be specific and discuss earthquakes, the age of the ocean floor, volcanoes, and topographic features. describe any convergent boundaries present on the west coast of north america.

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