...1. Parent purchased Subsidiary on January 1, 2014. The excess of investment cost over book value of $210,000 was allocated entirely to a 10-year royalty agreement. Subsidiary regularly sells merchandise to Parent. In 2015, inter-company sales amounted to $123,960, with $27,558 of deferred profit remaining in ending inventory. Year-end inter-company receivables/payables amounted to $40,300. In 2016, inter-company sales amounted to $123,960 with $35,330 of deferred profit remaining in ending inventory. Year-end inter-company receivables/payables amounted to $49,584. Financial statements of Parent and Subsidiary for the year ended December 31, 2016 are presented below. | Parent | Subsidiary | Sales Revenue | $ 9,864,000 | $3,718,800 | Cost of Goods Sold | (6,904,800) | (2,231,280) | Gross Profit | 2,959,200 | 1,487,520 | Operating Expenses | (1,874,160) | (966,888) | Equity Income | 491,860 | _ | Net Income | $ 1,576,900 | $ 520,632 | | | | Retained Earnings, 1/1/16 | $ 4,955,674 | $1,921,380 | Net income | 1,316,584 | 520,632 | Dividends | (301,758) | (67,682) | Retained Earnings, 12/31/16 | $ 6,230,816 | $2,374,330 | | | | Cash and receivables | $ 2,557,242 | $2,064,790 | Inventory | 1,913,616 | 1,108,202 | Equity Investment | 3,043,826 | | Property, Plant & Equipment (Net) | 9,205,085 | 2,050,300 | Total Assets | $16,719,769...
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...Practice Supply and Demand Questions 1. If the price of chocolate-covered peanuts increases from 40 cents to 50 cents, Dan will reduce his quantity demanded from 160 bags to 140 bags due to: a) The law of demand b) The law of supply c) A decline in his income d) A change in his tastes and preferences 2. An increase in demand, all other things unchanged, will result in a(n)_______ in price and a(n)_______ in quantity. a) Increase; decrease b) Decrease; decrease c) Decrease; increase d) Increase; increase 3. There is an increase in incomes. What happens in the market steak? a) The equilibrium price falls, and the equilibrium quantity rises b) The equilibrium price rises, and the equilibrium quantity falls c) The equilibrium price and quantity rise d) The equilibrium price and quantity fall 4. The price of oranges rises. What happens in the market for apples, which are a substitute for oranges? a) The equilibrium price falls, and the equilibrium quantity rises b) The equilibrium price rises, and the equilibrium quantity falls c) The equilibrium price and quantity rise d) The equilibrium price and quantity fall 5. Other things being equal, the effect of a decrease in the price of Coca-Cola would cause which of the following? a) A rightward shift in the demand curve...
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...Problem in Financial Planning #1 (in class) Assignment: 1. Prepare a monthly cash budget for January – March. 2. Prepare a pro-forma Income Statement and Balance Sheet for the same period. Information: a. Sales are 30% for cash, 70% on open account b. Of the credit Sales, 60% are collected with a one month lag and 40% are collected with a two month lag. c. Gross profit margin on sales averages 25%. Cost of goods sold is strictly materials. d. All inventory purchases are paid one month after they are purchased. e. The store follows the policy of purchasing enough inventory each month to cover the following month’s sales at cost. f. A minimum cash balance of $3,000 is to be maintained by the store. g. Other Liabilities remain unchanged. h. There is a one month lag in the payment of wages. i. The corporate tax rate is 30%. Dec. 2001 accrued taxes are due March 15, 2002. No additional tax payment is due until June 15, 2002. j. A $3,000 dividend payment will be made in March. k. Equipment with a cost of $5,000 will be purchased in January 2002. A loan will be taken to finance the equipment, with monthly payments of $235/month at a 12% annual interest rate. Balance Sheet, December 31, 2001 $5,000 Accounts Payable 19,740 Accrued Taxes 14,500 Accrued Wages 25,000 Other Liabilities (5,200) Capital Stock Retained Earnings $59,040 Total Liab. & Equity Cash Accounts Receivable Inventory Fixed Assets Accum. Depreciation Total Assets $11,250 1,400 1,000 1,500 19,860 24,030 $59,040 ...
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...characters long. Question: 3 Several of your co-workers are having a discussion over the etc/passwd file. They are at odds over what types of encryption are used to secure Linux passwords.(Choose all that apply). A. Linux passwords can be encrypted with MD5 B. Linux passwords can be encrypted with SHA C. Linux passwords can be encrypted with DES D. Linux passwords can be encrypted with Blowfish E. Linux passwords are encrypted with asymmetric algrothims Answer: A, C D Explanation: Linux passwords can be encrypted with several types of hashing algorithms. These include SHQ, MD5, and Blowfish. Question: 4 What are the two basic types of attacks?(Choose two. A. DoS B. Passive C. Sniffing D. Active Exam Name: Certified Ethical Hacker Exam Type: EC-Council Exam Code: 312-50 Total Questions: 255 Page 2 of 77 E. Cracsheets Answer: B, D Explanation: Passive and active attacks are the two basic types of attacks. Question: 5 Sniffing is considered an active attack. A. True...
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...Finance Practice Exam Student: ____________________________________________________________ _______________ 1. According to Generally Accepted Accounting Principles, costs are: A. recorded as incurred. B. recorded when paid. C. matched with revenues. D. matched with production levels. E. expensed as management desires. 2. The financial ratio measured as total assets minus total equity, divided by total assets, is the: A. total debt ratio. B. equity multiplier. C. debt-equity ratio. D. current ratio. E. times interest earned ratio. 3. Financial ratios that measure a firm's ability to pay its bills over the short run without undue stress are known as _____ ratios. A. asset management B. long-term solvency C. short-term solvency D. profitability E. market value 4. What is the future value of the following cash flows at the end of year 3 if the interest rate is 7.25%? The cash flows occur at the end of each year. A. $8,758.04 B. $8,806.39 C. $10,073.99 D. $10,314.00 E. $10,804.36 \ 5. The possibility that more than one discount rate will make the NPV of an investment equal to zero is called the _____ problem. A. net present value profiling B. operational ambiguity C. mutually exclusive investment decision D. issues of scale E. multiple rates of return 6. The Liberty Co. is considering two projects. Project A consists of building a wholesale book outlet on lot #169 of the Englewood Retail Center. Project B consists of building...
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...BLAW 2210 Term Paper Career Preparation My top two career choices are corporate financial analysis in investment banking and actuary. I will be discussing the legal environment of my career choices, taxing authorities, entity structure, graduate school in order to obtain certain license, self-assessment of my chosen careers. First, I will discuss how I can work as a corporate financial analysis in investment banking. After that, I will talk about what I need prepare to be an actuary. 1.corporate financial planning and analysis The responsibility of a corporate financial planing and analysis is to support management planning and decision making by identifying, maintaining, and evaluating information,as well as recommending actions. * Legal environment * Entity structure Investment banking is concerned with the primary function of assisting the capital market in its function of capital market intermediation, i.e. the movement of financial resources from those who have them means investors, to those who need to make use of them means issuer for generating profit. Therefore, it can be inferred that investment banks are those institutions that are the counterparts of banks in the capital market in the function of intermediation in resources allocation. Investment banks carried on carious activities it helps companies and governments and their agencies to raise money by issuing and selling securities in the primary market. They assist public and private corporations...
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...MGT/311 Final Examination Study Guide This study guide will prepare you for the Final Examination you will complete in the final week. It contains practice questions, which are related to each week’s objectives. In addition, refer to each week’s readings and your student guide as study references for the Final Examination. Week One: Individual Employee Characteristics Objective: Evaluate individual characteristics of employees. 1. Jan is a security officer. Jan believes that it is important to know exactly who is in the office at any given time. She notices that some employees do not sign out of the office when they take lunch, which makes it impossible to keep track of who is actually in the office. Jan becomes frustrated with those employees. She makes note of them and reports them to their supervisors. In the above scenario, what is the behavioral component of Jan's attitude to the employees who did not sign out of the office? a. Jan does not like that some employees do not sign out of the office when they take lunch. b. Jan finds it impossible to keep track of who is actually in the office. c. Jan becomes frustrated with those employees who do not sign out of the office. d. Jan notes which employees leave the office without signing out, and reports them to their supervisors. 2. Joseph was very excited about moving into his new office with a window, after 4 years of working in a cubicle. However, after moving in, he found that nothing...
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...Critical Play Analysis: A Raisin in the Sun 1. Thought/Theme/Ideas When reading a play, it is often difficult to obtain understanding and describe the theme. This particular play, A Raisin in the Sun, allowed for the meaning of the play to be conveyed through the characters. After completing the read, the play seemed to reveal that family is most important in life. In all of the stresses and events that take place within each person’s life, it is hard to become side-tracked on the family aspect of life. Throughout this play, money seemed to be the struggling conflict; the husband of Lena passed away and money was left over for the family. With the Youngers being a lower income family they were wanting to utilize the money for different purposes. Their lives are quite difficult in addition to them living a neighborhood that is experiencing some racial issues. Lena, the mother, was watering her plant everyday in hopes that it would prosper into something (pg. 28) By doing so, it showed that she was determined and committed to dreams and aspirations while the rest of the family were in conflict over the use of the 10K. While money is important in the everyday activities of life, it is not the most important aspect. If one does not have anyone to share the experience with, what is the use of the money. It would be best to let the money decide its purpose on its own (bills) rather than having everyone else deciding it individually; relationships can be destroyed that...
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...University of Wisconsin Parkside School of Business and Technology Dr. R. Zameeruddin INDIVIDUAL TAXATION, ACCT 305 PRACTICE FINAL EXAM Name _______________________ MULTIPLE CHOICE 1. Jeanne had an accident while hiking on vacation. She sustained nose injuries that required cosmetic surgery. While having the surgery done to restore her appearance, she had additional surgery done to reshape her chin, which was not injured in the accident. The surgery to restore her appearance cost $15,000 and the surgery to reshape her chin cost $4,000. How much of Jeanne’s surgical fees will qualify as a deductible medical expense (before application of the 7.5% limitation)? a. $0. b. $4,000. c. $15,000. d. $19,000. e. None of the above. ANS: C Cosmetic surgery is necessary (and therefore deductible) when it ameliorates (1) a deformity arising from a congenital abnormality, (2) a personal injury, or (3) a disfiguring disease. The $15,000 cost incurred in connection with the restorative surgery (required as a result of the accident) is deductible because the surgery was necessary. Amounts paid for the unnecessary cosmetic surgery ($4,000 for reshaping the chin) are not deductible as a medical expense. PTS: 1 REF: Example 2 | Example 3 2 2. Fred and Lucy are married and together have AGI of $120,000 in 2007. They have four dependents and file a joint return. They pay $5,000 for a high deductible health insurance policy and contribute $2,600 to a qualified Health Savings...
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...1) In 1958, President Eisenhower created ARPA to jump-start U.S. technology for the military. | (1 point) | | | false | | | true | | | | | | | Score: | 1 | | | | | | | | | | 2) The U.S. Department of Defense started e-commerce. | (1 point) | | | true | | | false | | | | | | | | Score: | 0 | | | | | | | | | | 3) By the late 1980s, CSNET was the primary Internet backbone. | (1 point) | | | false | | | true | | | | | | | | Score: | 0 | | | | | | | | | | 4) Most people use the terms Internet and World Wide Web interchangeably, but they are two different things. | (1 point) | | | false | | | true | | | | | | | | Score: | 1 | | | | | | | | | | 5) NETs are companies that provide Internet access and offer many different access plans. | (1 point) | | | false | | | true | | | | | | | | Score: | 0 | | | | | | | | | | 6) The least expensive type of connection is usually DSL. | (1 point) | | | false | | | true | | | | | | | | Score: | 0 | | | | | | | | | | 7) CBS Mobile Zone is an example of a municipal WiFi. | (1 point) | | | true | | | false | | | | | | | | Score: | 0 | | | | | | | | | | 8) HTTP is the authoring language that...
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...| | |The most damaging of the denial of service attacks can be a _______________ attacks, where an attacker uses zombie software distributed | |over several machines | | | | | |[pic] | |Bot | | | | | |[pic] | |Distributed denial of service ...
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...Finance 316 practice problems for final exam 1. True or False: According to the CAPM, a stock's expected return is positively related to its beta. 2. In practice, the market portfolio is often represented by: A. a portfolio of U.S. Treasury securities. B. a diversified stock market index. C. an investor's mutual fund portfolio. D. the historic record of stock market returns. 3. A stock's beta measures the: A. average return on the stock. B. variability in the stock's returns compared to that of the market portfolio. C. difference between the return on the stock and return on the market portfolio. D. market risk premium on the stock. 4. If the slope of the line measuring a stock's historic returns against the market's historic returns is positive, then the stock: A. has a beta greater than 1.0. B. has no unique risk. C. has a positive beta. D. plots above the security market line. 5. One of the easiest methods of diversifying away firm-specific risks is to: A. buy stocks with a beta of 1.0. B. build a portfolio with 20-25 individual stocks. C. purchase the shares of a mutual fund. D. purchase stocks that plot above the security market line. 6. An investor was expecting a 18% return on his portfolio with beta of 1.25 before the market risk premium increased from 8% to 10%. Based on this change, what return will now be expected on the portfolio? A. 20.0% B. 20.5% C. 22.5% D. 26.0% 7. If a two-stock portfolio is equally invested in stocks with betas of...
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...University 01/2010 – Present Director Assistant, Canadian Chamber of Commerce in Shanghai 06/2009 – 08/2009 • Designed 2010 Expo Guide for Canadians in Shanghai. • Coordinated events on Canada’s Day and assisted Administrative Director with related projects • Located and entered data into several databases; made phone calls, and ensured timely mail processing. • Assisted administrative team members with clerical function. Dining Service Associate, University of Minnesota – Twin Cities 09/2009 – 12/2009 • Maintained inventory of standard dining service supplies and assists manager coordinate attendants. Member, Actuarial Club in University of Minnesota – Twin Cities 01/2009 – 12/2009 • Arranged the preparation of Casualty Actuarial Society (CAS) exam Volunteer, Students Today Leaders Forever 03/2009 – 12/2009 • Assisted the donation of food to Minnesotans at risk of hunger. Volunteer, in school for the Mute and the Deaf in Zhoushan, Zhejiang Province 2006 – 2009 • Taught disabled students Mandarin. Policy-analyst, Model United Nation in Shanghai K.J. Senior High School 2006 – 2008 • Analyzed UN policies for Model UN conferences HONORS/ AWARDS Honor Program, Awarded by Associate Dean of University of Minnesota – Twin Cities Global Excellent Scholarship, Awarded by University of Minnesota – Twin Cities Dean's List, Awarded by University of Minnesota – Twin Cities st th 1 prize, World 20 Odyssey of Mind Competition in China Area 09/2008 – 12/2009 09/2008 – 12/2009 Fall 2008, Fall 2009...
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...Practice Final Exam ENGL032 Part 1: In this section of the final exam, you will be asked questions about Active Reading Strategies. You will need to know the definitions of each one in order to answer the questions on the final exam. As a way of preparing, test your knowledge of each strategy by defining or describing each one in the space below. Prediction Questioning/Wondering Summarizing Visualizing Making Connections Part 2: Read the following passage in the left column. In the right column, read the thoughts of someone who has already read this passage. Then, in each blank, identify the reading strategy this reader activated while reading the passage “Chicago and Cleveland.” Chicago and Cleveland (1) Chicago, at the southern tip of Lake Michigan, is a port city.(2) It is also an important commercial (3) and industrial center of the Midwest. It is well known for its educational, cultural, and recreational centers. Chicago draws thousands to its concert halls, art museums, and sports arenas.(4) Cleveland, on the south shore of Lake Erie, is also a port city and a commercial and industrial center important to its area (5). Like Chicago, it has several important educational, cultural, and recreational centers. It has colleges and universities, and a distinguished (6) symphony orchestra. It has one of the finest art museums of the world, and many recreational centers. The location of the two cities contributed to their growth, but this similarity is...
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...Quick Links Logout Piero Bazo CMBA | My BlackboardTab 2 of 4 (active tab) | Support | Portfolios | | 1. 1158 - FIN6406 - Corporate Finance - Sections RXK & RXH & RXI & RXJ & RXL & RXW - Fall 2015 2. Assessments 3. Review Test Submission: Practice Exam I * * 1158 - FIN6406 - Corporate Finance - Sections RXK & RXH & RXI & RXJ & RXL & RXW - Fall 2015 * Course Content * Contact Your Coach * Syllabus * Policies * Course Tools * Announcements * Discussion Board * Groups * Messages * Assessments * Assignment Dropbox * Adobe Connect * Student Resources * My Grades * Calendar * FIU Resources * Course Resources * Technical Support My Groups * Group 10 Review Test Submission: Practice Exam I User | Piero Bazo | Course | 1158 - FIN6406 - Corporate Finance - Sections RXK & RXH & RXI & RXJ & RXL & RXW - Fall 2015 | Test | Practice Exam I | Started | 8/24/15 7:09 PM | Submitted | 8/24/15 8:26 PM | Status | Completed | Attempt Score | 85 out of 100 points | Time Elapsed | 1 hour, 16 minutes out of 2 hours | Results Displayed | All Answers, Submitted Answers, Correct Answers, Feedback | * Question 1 5 out of 5 points | | | Garcia Industries has sales of $120,000 and accounts receivable of $18,500, and it gives its customers 25 days to pay. The industry average DSO is 27 days, based...
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