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- Which of the following attorney's fees would not be deductible? Check all that apply!! Question 4 options: Attorney's fee paid by a sole proprietor to assist in collecting delinquent accounts Attorney's fee paid for preparing a title opinion and handling a closing pursuant to the purchase of a personal residence. Attorney's fee paid for preparing a title opinion and handling a closing pursuant to the purchase of a rental property. Attorney's fee paid for the purpose of preparing a Last Will and Testament. Attorney's fee paid by a landlord to assist in the eviction of tenants Attorney's fee paid to handle a defense of a business related criminal chargeConsider the following price and dividend data for Ford Motor Company: Dividend ($) Date December 31, 2004 January 26, 2005 April 28, 2005 July 29, 2005 October 28, 2005 December 30, 2005 Price ($) $14.04 $13.43 $9.14 OA. -44.4% OB. -40.2% OC.-42.32% OD. -38.1% $10.74 $8.02 $7.72 $0.12 $0.12 $0.12 $0.12 Assume that you purchased Ford Motor Company stock at the closing price on December 31, 2004 and sold it at the closing price on December 30, 2005. Your realized annual return is for the year 2005 is closest to:Question 2At time 0, M is deposited into Fund X, which accumulates at a force of interest δt =0.006t2. At time m, 2M is deposited into Fund Y, which accumulates at an annual effective rate of 10%. At time n, where n > m, the accumulated value of each fund is 4M.Determine m.
- HI6026 AUDIT, ASSURANCE AND COMPLIANCE Question 1 You are currently involved in planning for the audit of Spot Light Ltd (SLL), a national company producing curtains and blinds. The curtain and the blind market is highly competitive, and SLL has been experiencing declining sales over the past three years. Cost-cutting has proven very difficult, as the cost of materials used in the company’s production lines has increased each year. SLL’s bank has continued to provide SLL with loan facilities; however, it has indicated that it expects to see improved results in the next financial report and has placed a number of quite restrictive covenants in SLL’s lending agreements. Recent articles appearing in the financial press concerning SLL’s expected financial results have been very pessimistic about its likely performance. Required: Based on the information provided: Discuss the overall impact on audit risk. Which specific component(s) of audit risk would be affected? In refer to Question…Question 3 Coces, a furniture shop owner, buys a new set of cabinet worth $9,850. He receives an invoice dated 26 October 2019 with trade discounts of 8 percent, 4 percent and is offered cash discount terms 3/15, 2/30, n/60. (iii) If Coces pays $5,000 on 3 November 2019, calculate the amount that was credited to Joe’s account.Question 1: Assume that you own and operate a business. Your production this year was based on prior years' experience. You have been left, however, with 100,000 unsold units on hand. You have been selling your product at $5 each and expected the same price for these 100,000 units. You have exhausted all avenues you can think of for disposing of your excess product. You do not have the storage capacity for keeping these units in inventory while you continue production. This morning a giant retail organization contacted you urgently seeking the type of product you produce to fill deficits in their supply. They offer to pay you $3 per unit. 1. How would you assess whether or not you should negotiate? Identify the factors you would consider and give reason for their consideration. [YOU MUST GIVE THE REASON FOR CONSIDERATION OF EACH FACTOR SEPARATELY OTHERWISE YOUR ANSWER WILL NOT BE ACCEPTABLE] 2. What factors can you readily identify that will affect your negotiation options and…
- - QUESTION 1 Green Tea 4 Life Ltd has requested your help in preparing their financial statements as they are unsure of the requirements of NZ IFRS 16 Leases for lessees. You are provided with the following lease details: Green Tea 4 Life Ltd is the Commencement date Lease term Economic life of asset Interest expense SCF classification IDC incurred by the lessee Upfront payment due on the commencement date Fixed payments per annum at year end Ownership transfer at end of lease Lessee's incremental borrowing rate The depreciation method used by the lessee The relevant present value discount factors are: Present value of $1 in n periods Present value of an annuity -5 1-8% Lessee 1 April 2019 5 years 10 years CFOA $10000 $30 000 $200 000 No 8% Straight line 0.6806 3.9927 (i) Prepare the journal entry to initially recognise the ROU asset and lease liability, at the commencement date. (ii) Complete the lessee's table in the space provided. Determine the total interest expense that would be…Q1. Hotel manager Mr. Smith and his resourceful assistant, John, run a 26-room hotel in a little town. A combination of Mr. Smith's friendly attitude and the absence of a respectable hotel in the nearby vicinity imply that Mr. Smith enjoys sufficient demand at his low fare of $159 per night. John notes that some customers will walk into the hotel requesting a room for that evening and they are willing to pay a high fare of $325 per night. John knows this demand is variable. (In reality, this demand is U(4,9)) He suggests some rooms should be kept unsold to the low-fare customers so that they can serve the high-fare customers. a) To maximize profits with John's plan, what is the booking limit that should be set for low fare customers? b) Mr Smith does not like the idea of John and says “we will sell to everyone who reserves in advance and ignore the walk-in demand." If Mr Smith has his way, what will be the hotel's expected revenue? C) John replies, "If you are going to forgo the…Question 16 Refer to the table given below. As a price of $45, a Price (in dollars) of units occurs. Quantity Demanded Quantity Supplied 75 400 900 450 850 800 70 65 500 60 550 750 55 600 700 50 650 650 45 700 600 40 750 550 a) surplus; 100 b) shortage; 700 Oc) surplus; 700 O d) shortage; 100
- 9. Nizwa Company bought an equipment for manufacturing tube lights and the company management requested you to analyze and submit the report regarding the four major factors that required to consider for calculating depreciation of an equipment?Question* A shop sells a particular make of video recorder. Assuming that the weekly demand for the video recorder is a Poisson distribution with mean 3, the probability that the shop sells no more than 20 in a month is 0.0213 0.0116 0.9884 None of theseQ4. RKE & Associates is considering the purchase of a building it currently leases for $30,000 per year. The owner of the building put it up for sale at a price of $170,000, but because the firm has been a good tenant, the owner offered to sell it to RKE for a cash price of $160,000 now. If purchased now, how long will it be before the company recovers its investment at an interest rate of 15% per year?(Do not use excel)