Hi, I am struggling to understand this worksheet my professor gave us for practice. Could someone make any sense of this?

The scenario: Sodium is found largely in the extracellular compartment with concentrations between 130-145 mM with intracellular sodium concentrations between 3.5-5mM. This chemical difference gives sodium a large concentration gradient, which when permitted (by opening of a channel or through facilitated transport) will move down its concentration gradient to enter the cell. Sodium also has a favorable electrical gradient; the cellular membrane potential sits at -70mV with the extracellular space sitting at 0 mV. Sodium being a cation, also has an electrical gradient that favors the inward movement of sodium when permitted. If we were to let sodium freely permeate across the cell membrane it would settle at its equilibrium potential where the two forces equally oppose each other. This value is +66mV, sodium would still have a favorable chemical gradient, but an unfavorable electrical gradient. At this point net inward movement down the chemical gradient would equally oppose the net outward movement down sodium's electrical gradient. Answer the questions below based on the above information:

ANSWER CHOICES: chemical gradient, electrical gradient, chemical and electrical gradient, equilibrium point

1. if a cell has a membrane potential of -90mV and sodium is allowed to permeate across the cell membrane, which gradients would sodium be moving down?  

2. if a cell has a membrane potential of -10mV and sodium is allowed to permeate across the cell membrane, which gradients would sodium be moving down?

3. If a cell has a membrane potential of 0 mV and sodium can permeate the cell membrane, which gradients would sodium be moving down?

4. If a cell has a membrane potential of +66 mV and sodium is allowed to permeate across the cell membrane, which gradients would sodium be moving down?

5. If a cell has a membrane potential at +90mV and sodium is allowed to permeate across the cell membrane, which gradients would sodium be moving down?

6. Out of all the above scenerios, which membrane potential would yield the highest net rate of Na+ transport? The lowest?

On January 2, 2020, Pharoah Corp. issues a $8–million, five–year note at LIBOR, with interest paid annually. To protect against the cash flow uncertainty related to interest payments that are based on LIBOR, Pharoah entered into an interest rate swap to pay 8% fixed and receive LIBOR based on $8 million for the term of the note. The LIBOR rate for the first year is 7.6%. The LIBOR rate is reset to 8.7% on January 2, 2021. Pharoah follows ASPE and uses hedge accounting. On December 31, 2020, the fair value of the swap decreased by $13,500: it increased by $4,000 on December 31, 2021. Assume that the criteria for hedge accounting under ASPE are met.

Prepare the journal entries to recognize the swap, assuming the company follows hedge accounting under IFRS

December 31, 2020( to decrease the value of the contract)

December 31,2020 (To record the fix under hedge accounting)

December 31,2022( To record the value of the contract)

December 31, 2022(k To record the fix under hedge accounting)

Question 6

Zoy plc is listed on the Hong Kong Stock Exchange and currently has 1m issued ordinary shares.

Over the last 5 years the following dividends have been paid at the end of each year:

The dividends are expected to increase from 2020 at the same rate as they have historically and then by 4% per annum for periods after 2023.

The cost of equity of Zoy is unknown but the company has a beta of 0.9 and the rate of return on government securities is 0.6% per annum. The equity risk premium is estimated to be 6% per annum.

Required:

1. Calculate the value of Zoy plc using the dividend valuation model. Assume the 2020 dividend has just been paid.

(12 marks)

2. Discuss whether using future cash flows to value a company is more useful than using the net asset value from the balance sheet.

(8 marks)

5. Tricolo Corporation made a total of $80 million in revenue in 2020. They spent $4.3 million in wages to their staff, $2 million in interest payments to bondholders, $0.5 million in dividends to shareholders, $300,000 in office supplies that were used within the year and $800,000 in capital assets (lasted for more than 1 year). Assume a real interest rate of 3%.

a. What was their taxable income for 2020:
If they were allowed to expense all capital assets? b. What was their taxable income for 2020:

If their capital assets all have a tax life of 4 years and straight-line depreciation?

c. What would be the present value of total tax savings if they were able to expense all of the capital assets as in part a relative to the depreciation given in part b. (assume a real interest rate of 3% and a flat tax rate of 20% for corporations)

d. What are two different ways in which the Corporate Income Tax is not just a “profits tax”. How does this tax create deadweight loss?

AX Development Ltd purchased land on 1 April 2016 at a cost of $3 000 000. The cost model was used for the land.

On 31 March 2017, AX Development Ltd switched to the revaluation model for the land. A revaluation was performed on the 31 March 2017; this resulted in a downward revaluation of $400 000 for the land.

On the 30 September 2018, the fair value of the land was reassessed by an independent valuer to be $3 600 000.

On the 31 March 2020, the fair value of the land was reassessed by an independent valuer to be $2 950 000.

Required:

(i) Prepare the journal entry at 31 March 2017 to recognise the first revaluation of the land.

State the carrying amount of the land, after the revaluation, as at 31 March 2017   

(ii) Prepare the journal entry at 30 September 2018 to recognise the second revaluation of the land.         

(iii) Prepare the journal entry at 31 March 2020 to recognise the third revaluation of the land.

State the carrying amount of the land, after the revaluation, on 31 March 2020.     

On January 1, 2020, QuickPort Company acquired 90 percent of the outstanding voting stock of NetSpeed, Inc., for $1,161,000 in cash and stock options. At the acquisition date, NetSpeed had common stock of $1,220,000 and Retained Earnings of $61,000. The acquisition-date fair value of the 10 percent noncontrolling interest was $129,000. QuickPort attributed the $9,000 excess of NetSpeed's fair value over book value to a database with a five-year remaining life.

During the next two years, NetSpeed reported the following:

On July 1, 2020, QuickPort sold communication equipment to NetSpeed for $15,000. The equipment originally cost $18,500 and had accumulated depreciation of $5,300 and an estimated remaining life of three years at the date of the intra-entity transfer.

1. Compute the equity method balance in QuickPort's Investment in NetSpeed, Inc., account as of December 31, 2021.
2. Prepare the worksheet adjustments for the December 31, 2021, consolidation of QuickPort and NetSpeed.

REQUIRED 2.1 Use the information provided below to prepare the Income Statement of Deere Limited for the month ended 31 March 2020 using the: 2.1.1 Variable costing method. 2.1.2 Absorption costing method. 2.2 Reconcile the profit calculated according to variable costing (in question 2.1.1) with the profit calculated according to absorption costing (in question 2.1.2).
INFORMATION The following information was extracted from the accounting records of Deere Limited for the month ended 31 March 2020: Inventory on 01 March 2020 Nil Production 50 000 units Sales 45 000 units

Selling price per unit R120 Manufacturing costs: Fixed R300 000 per month Variable R50 per unit Marketing costs: Advertising and salaries R42 000 per month Sales personnel’s commission 5% of sales Administration costs: Office costs including salaries R60 000 per month Other office costs R7 per unit sold

- A stock is expected to pay a dividend of $2.25 at the end of the year (i.e., D1 = $2.25), and it should continue to grow at a constant rate of 5% a year. If its required return is 15%, what is the stock's expected price 4 years from today?

- Assume that today is December 31, 2019, and that the following information applies to Abner Airlines:

After-tax operating income [EBIT(1 - T)] for 2020 is expected to be $450 million.
The depreciation expense for 2020 is expected to be $190 million.
The capital expenditures for 2020 are expected to be $225 million.
No change is expected in net operating working capital.
The free cash flow is expected to grow at a constant rate of 6% per year.
The required return on equity is 15%.
The WACC is 12%.
The firm has $206 million of non-operating assets.
The market value of the company's debt is $3.304 billion.
130 million shares of stock are outstanding.

Using the corporate valuation model approach, what should be the company's stock price today?

George is the owner of Hornby’s Restaurant. George has asked you to support him with the preparation of a Balance Sheet and an Income Statement as of 30 June 2020. The information below was provided by George as at 30 June 2020.

To help George, you are required to calculate the total amounts (as of 30 June 2020) for the following positions. Please provide for each position the calculations.

a) current assets

b) non-current assets

c) current liabilities

d) non-current liabilities

e) expenses

f) revenues

g) profit/(or loss)

h) equity