writing a short essay onthe listing of shares on Qatar Stock Exchange.whylisting of shares? listing of shares important and why issued share ? what advantage ? improvement ?</fontemojifont","apple">
At the end of 2012 a company has a $10,000 certificate of deposit that matures in 120 days, $60,000 of cash in a checking account, and $100,000 of one-month T-bills. Required At what amount would the company report cash and cash equivalents on its 2012 balance Sheet?
[[APPLICATION ACTIVITIES]]
In April 2010, the PCAOB issued a disciplinary order instituting disciplinary proceedings, making findings, and imposing sanctions in the case of Robert T. Taylor, CPA (both the firm and the individual auditor). The order can be found in PCAOB Release No. 105–2010–006 at www.pcaobus.org. Obtain this release from the PCAOB Web site and answer the following questions.
a. The order in the case of Robert T. Taylor recognizes that PCAOB standards require that an auditor exercise due professional care, exercise professional skepticism, and obtain sufficient evidence on which to base an opinion on the financial statements. Describe instances in which the respondents in the order did not adhere to these requirements.
b. Why is adhering to these professional requirements important for audit quality?
Did Odysseus encounter Cerebrus, the three-headed dog that guarded the gates to the underworld, while on his journey home?
Apple a Day, Inc., and Unforgettable Edibles, Inc. are food catering businesses that operate in the same metropolitan area. Their customers include Fortune 500 companies, regional firms, and individuals. The two firms reported similar profit margins for the current year, and both base bonuses for managers on the achievement of a target profit margin and return on equity. Each firm has submitted a loan request to you, a loan officer for City National Bank. They have provided you with the following information:
Apple a Day
Unforgettable Edibles
Net sales
$625,348
$717,900
Cost of goods sold
225,125
287,080
Gross margin
$400,223
$430,820
Operating expenses
281,300
371,565
Operating income
$118,923
$ 59,255
Gain on sale of real estate
—
81,923
Interest expense
(9,333)
(15,338)
Income before income taxes
$109,590
$125,840
Income taxes expense
25,990
29,525
Net income
$ 83,600
$ 96,315
Average stockholders’ equity
$312,700
$390,560
1. Perform a vertical analysis and prepare a common-size income statement for each firm. Compute profit margin and return on equity.
2. Discuss these results, the bonus plan for management, and loan considerations. Identify the company that is the better loan risk.
Alex is resident of the UK for tax purposes. He lives in Australia and had $90,000 assessable income
from Australian sources in 2019/2020. He does not have any allowable deductions.
Required:
a- What is Alex’s taxable income?
b- Calculate Alex’s tax payable.
2
Week 2 Question (10 marks)
Anna is a fitness consultant operating as a sole trader. Anna recently completed two fitness contracts
for two of her clients.
In her first contract, Anna provided a 10-hour fitness training course to her client, Sam. Anna charged
$1,000 for her fitness training course. This included fitness training materials that cost Anna $100.
In her second contract, Anna provided fitness video tutorials for a client, Lilly. Anna charged $1,000 in
total. This included $200 to cover the cost of the video recording materials.
With reference to the relevant legislation and/or case law, discuss whether or not these receipts are
Anna’s income from personal services.
Week 3 Question (10 marks)
Alex is a musician who is also interested in collecting old golden gramophones. He is not collecting
these old golden gramophones for business purposes. On 20 February 2020, Alex sold one of these
old golden gramophones for $3,000. The gramophone cost him $500 when he acquired it on 1 June
2000. With reference to the relevant legislation, discuss Alex’s net capital gain or net capital loss for
the year ended 30 June.
Week 4 Question (10 marks)
Sam is a property investor. He purchased a small commercial building in Sydney for $2,000,000. Sam
had to take out a loan from the ANZ Bank to purchase this property and Sam is charged interest on
that loan. In order to rent the property, he met William, who is an experienced real estate agent. Sam
and William agreed that an upfront lump-sum payment of $8,100 as a management fee is to be paid
to William. With reference to the relevant legislation and case law, discuss the issue as to the
deductibility of the management fee to William and the bank interest charges.
The third on the above list of the uses of budgets (motivation) implies that managers are set stated tasks. Do you think there is a danger that requiring managers to work towards such predetermined targets will stifle their skill, flair and enthusiasm?
The company had sales during the year of $350,000. The gross profit percentage during the year was 20%. Cash collected during the year related to these sales was 40% of the sales. Give all journal entries necessary during the year, assuming use of the installment sales method.
Calculate Excel Company Limited’s equity beta given the following information:
Correlation between the returns on
Excel’s share and Sensex = 0.725
Variance of the returns on Excel’s share = 0.006455
Variance of the returns on Sensex = 0.001589
1. Why do companies like to issue convertible securities? What’s in it for them?
2. Describe LYONs, and note how they differ from conventional convertible securities. Are there any similarities between LYONs and conventional convertibles? Explain.
Q
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