For each of the following entities, identify if the entity would be governed by GASB standards by selecting a "G", FASB standards by selecting an "F", or FASAB standards by selecting an "FB". (Hint: Search the website of the entity listed if you are unsure.)
1. Your university
2. Department of Defense
3. American Institute of Certified Public Accountants
4. The county in which you live
5. Internal Revenue Service
6. Mayo Clinic
7. New York City
8. American Cancer Society
9. Metropolitan Washington Airports Authority (operates the Washingtorn, DC, airports)
10.The Metropolitan Museum of Art, New York City
Answers
Answer:
1. Your university: F
2. Department of Defense: FB
3. American Institute of Certified Public Accountants: F
4. The county in which you live: G
5. Internal Revenue Service: FB
6. Mayo Clinic: F
7. New York City: G
8. American Cancer Society: F
9. Metropolitan Washington Airports Authority (operates the Washingtorn, DC, airports): G
10.The Metropolitan Museum of Art, New York City: F
Explanation:
GASB is an acronym for Government Accounting Standards Board (GASB) and it's mainly a private, non-governmental organization (NGO) that is saddled with the responsibility of developing and creating reporting standards used in accounting such as the Generally Accepted Accounting Principles (GAAP) for local and state government in the United States of America since 1984.
FASB is an acronym for Financial Accounting Standards Board (FASB) and it's an autonomous non-profit agency which through the use of Generally Accepted Accounting Principles (GAAP), is saddled with the responsibility of establishing and maintaining accounting and financial reporting standards for all firms, business enterprises, and as well as nonprofit organizations doing business in the United States of America. It has its headquarter in Norwalk, Connecticut, United States and was founded in 1973.
FASAB is an acronym for Federal Accounting Standards Board (FASAB) and it's a federal advisory committee which is solely responsible for the development of accounting standards for government agencies in the United States of America. It also is responsible for setting the Generally Accepted Accounting Principles (GAAP).
It has its headquarter in Washington DC and was founded in October 1990.
Related Questions
8
What are three advantages of corporations?
Answers
Answer:
Personal liability protection, business security and continuity
what are the advantage and dis advantage of advertising for a hotel?
Answers
Answer:
heres are the pro/advantages and cons/disadvantages of advertising.
Explanation:
Pros Cons
Expands the market Encourages monopolistic control
Increases sales Ad cost might exceed sales
Fights competition Pushes out small businesses
Educates consumers Misleads consumers
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construct essay using the 4 factors of production
1. Land
2. Labour
3. capital
4. entrepreneurship
Answers
The four elements of production are land, labor, capital, and entrepreneurialism, according to economists.
The four most important production elements are what?The four production elements are examined in further detail below, along with how their interactions impact the financial markets:
Land is seen as a component of production since it contains the natural resources used to create a good or service. These resources might be either nonrenewable ones, like oil, gold, or water, or renewable ones, like forests, according to Edward Petersmarck, executive director of practice development at M&O Marketing.
According to John Traynor, chief investment officer of People's United Advisors, labor is the component of production on which we focus the most. Labor is the work that members of a workforce perform. Its value is determined by the human capital, or the skills, knowledge, training, and education of these individuals.
A factor of production is defined as a set of resources, such as capital goods, that were produced by people and used in the production of commodities or services. The hammer of a carpenter or an MRI machine used by a doctor are only two examples provided by Petersmarck. Contrary to what he asserts, it cannot be confused with money as the latter "can buy capital but is not used to produce capital."
The purpose of consumer goods is to be consumed, whereas the purpose of capital goods is to be produced. Another technique to distinguish between capital goods and consumer products is in this way. The difference between a business complex and an apartment complex is that the former is a capital good, the latter is a consumer good.
Entrepreneurs are those who combine capital, labor, and other factors of production to produce goods and services for a profit. As an example of the entrepreneurial element in manufacturing, you may think of Ray Kroc, a McDonald's franchisee.
An economist from Montclair State University named Luis Portes claims that entrepreneurial activity is the catalyst for innovation because it introduces fresh schemes for allocating resources like labor, capital, and land to the production of new goods and services.
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I
The constant growth formula is a good tool to use to value companies in the
industry.
O technology
2000
о
pharmaceutical
utility
I DON'T KNOW YET
Answers
The constant growth formula is typically applied more commonly in the utility industry.
The constant growth formula, also known as the Gordon Growth Model, is commonly used to value companies in industries with stable and predictable dividend growth rates. It assumes that the company's dividends or earnings will grow at a constant rate indefinitely. However, it may not be the most suitable tool for valuing companies in every industry.
The constant growth formula can be a useful tool for valuing companies in certain industries like utilities, but it may not be the most appropriate choice for valuing companies in the technology or pharmaceutical sectors.
Utility companies often exhibit stable and predictable cash flows, making them suitable candidates for valuation using the constant growth model.
Therefore, the correct option is utility.
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does anyone know the accounting cycle???
Answers
What should you do when you open a checking account?
A) Open a savings account and link it to your checking account.
B)Try to sign up for true overdraft protection, even though you have to pay
for it.C. Both A and B.
Answers
Answer: both a and b
Explanation:
Marketing through social media is very popular today. You have seen how mobile technology has accelerated the use of social media for marketing.
Research at least three mobile marketing techniques and then write a report about a company that has used mobile marketing with success. Include the following points in your report:
Describe in detail the technique used in the mobile marketing campaign.
What was the campaign trying to achieve?
Who was the target audience? What techniques did the company use to broaden the audience base?
Describe the campaign process in detail.
What results did the campaign achieve?
How did mobile technology play a key role in the marketing campaign?
How did mobile technology enhance the campaign compared to traditional marketing methods?
Why do you think the campaign succeeded?
In what ways could the company have improved the campaign?
Answers
Answer:
Get Started
What is Mobile Marketing? (The Best Answer Ever!)
Both marketers and consumers begin their web services on mobile. Digital marketers in particular are excited to run mobile campaigns, because they know that mobile users are motivated buyers.
According to Salesforce, “68% of companies have integrated mobile marketing into their overall marketing strategy.”
The earlier you start reaching out to them, and solving their problems, the more results you will get in your business.
It’s no secret that building a successful online business has its challenges. One of such is knowing how to interact with potential customers on different platforms and devices.
Not only will you get the best results out of mobile, but a good understanding of how mobile marketing works will put you in total control of your marketing.
Let me get you started with a quick definition.
What is Mobile Marketing?
Andreas Kaplan defines mobile marketing as:
“Any marketing activity conducted through a ubiquitous network to which consumers are constantly connected using a personal mobile device.”
Wikipedia defines it as “marketing on or with a mobile device”.
Margaret Rouse defines it as:
“As a promotional activity designed for delivery to cell phones, smartphones, and other handheld devices, usually as a component of a multi-channel campaign.”
I define it as marketing for mobile users.
What-is-Mobile-Marketing??
Mobile phones are changing the way your target audience and customers engage with your brand. People visit your website on their phones, open your emails on smartphones, and buy from your store through their phones.
Putting your business right where your customers are – on the go – is what mobile marketing is all about. Any marketing plan today that ignores mobile marketing is a failed plan.
A Brief History of Mobile Marketing
The history of mobile marketing links back to the time when the first commercial mobile SMS and shortcodes were launched in 2003.
Pontiac and Nike were the first two brands that launched SMS campaigns in 2005. This was the time when both brands realized that mobile marketing is the future because people were crazy about mobile phones.
By 2007, there were 2.4 billion SMS users throughout the globe. Apple launched its first iPhone in the US and QR codes were incorporated into mobile marketing in 2010, which led to the beginning of a new era in marketing.
By 2011, mobile marketing was a $14 billion dollar global industry.
By 2013, Android and iOS had dominated the market and it’s the time when apps were becoming popular and smartphones were replacing traditional mobile phones.
By 2014, the number of mobile phone users exceeded the number of computer users and people were accessing the internet from their phones.
Today, 89% of mobile time is spent on apps while the remaining 11% is spent on websites. This is the number one reason why 71% marketers say that mobile marketing is core to their business, while 68% brands have integrated mobile marketing into their overall marketing strategy.
Brands that lack a mobile marketing strategy must rethink their marketing strategy, because all such brands are losing customers every second.
Explanation:
This will help u really much!!!!
Alfred E. Old and Beulah A. Crane, each age 42, married on September 7,2017. Alfred and Beulah will file a joint return for 2019. Alfred's Social Security number is 111-11-1109. Beulah's Social Security number is 123-45-6780, and she adopted "Old" as her married name. They live at 211 Brickstone Drive, Atlanta, GA 30304. Alfred was divorce from Sarah Old in March 2016. Under the divorce agreement, Alfred is to pay Sarah $1,250 per month for the next 10 years or until Sarah's death, whichever occurs first. Alfred pays Sarah $15,000 in 2019. In addition, in January 2019, Alfred pays Sarah $50,000, which is designated as being for her share of the marital property. Also, Alfred is responsible for all prior years' income taxes. Sarah's Social Security number is 123-45-6788. Alfred's salary for 2019 is $150,000. He is an executive working for Cherry.Inc. (Federal I.D. No. 98-7654321). As part of his compensation package, Cherry provides him with group term life insurance equal to twice his annual salary. His employer withheld $24,900 for Federal income taxes and $8,000 for state income taxes. The proper amounts were withheld for FICA taxes. Beulah recently graduated from law school and is employed by Legal Aid Society.Inc. (Federal I.D. No. 11-1111111), as a public defender. She receives salary of $42,000 in 2019. Her employer withheld $7,500 for Federal income taxes and $2,400 for state income taxes. The proper amounts were withheld for FICA taxes. Alfred and Beulah had interest income of $500. They received $1,900 refund on their 2018 state income taxes. They claimed the standard deduction on their 2018 Federal income tax return. Alfred and Beulah pay $4,500 interest and $1,450 property taxes on their personal residence in 2019. Their charitable contributions total $2,400 (all to their church). They paid sales taxes of $1,400, for which they maintain the receipts. Alfred and Beulah have never owned or used any virtual currency, and they do not want to contribute to the Presidential Election Campaign. Compute the Old's net tax payable (or refund due) for 2019. Suggested software: ProConnect Tax Online
Answers
To compute the Olds' net tax payable (or refund due) for 2019, we need to gather all the relevant information and calculate their taxable income, apply the appropriate tax rates, deductions, and credits. Since the tax calculation involves various factors and tax laws, it would be best to use tax software such as ProConnect Tax Online or consult with a tax professional. The software will streamline the process and ensure accurate calculations based on the specific tax laws and regulations applicable to the Olds' situation.
A Ground Fault Circuit Interrupter (GFCI) is designed to do which of the following? Select all that apply.
Detect when the current leakage is greater than 5 mA.
Protect people from severe and sometimes fatal electrocution by monitoring for electrical leakage to ground.
Interrupt the flow of electric current by tripping quickly enough to prevent electrocution from leakage
Answers
1Answer:1
Explanation:1
what answers applies to "fine print"
Answers
Most significant information is typically found in the fine print.
Why is reading the fine print on a credit card application important?Credit card consumers have consumer safeguards according to the Credit Card Accountability, Responsibility and Disclosure Act of 2009. To understand your rights, fines, transaction costs, and to prevent unpleasant surprises, it's crucial to carefully read your agreement, especially the tiny print.
The phrase "fine print" refers to contract terms and conditions, disclosures, or other significant information that is included in footnotes or a supplemental document and is not presented in the main body of the document.
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What is Top Glove's company process strategy?
Answers
Answer: Top Glove's growth strategy is two-fold: organic and inorganic expansion. Its yearly production capacity increased dramatically from 3.2 billion pieces in 2001 to 64 billion pieces in 2019.
Explanation:
Answer:
Top Glove's management's focus is to use technology to further automate its production lines, reduce the number of workers, and improve the efficiency of its line and quality of its products.
Explanation:
If you have a friend who is hoping to buy a home in the next few years, what should your friend know about the process of finding and paying for a new home? What do they need to know to make the home-buying process smoother? How does their credit score affect this process? How would your friend determine what is affordable?
Answers
Things to consider
FinancingBudgeting.etcYour buddy should engage with a real estate agent to make the home-buying process easier.
Your acquaintance should examine their income, debt, long-term financial objectives, and the cost of homeownership in their desired region to decide what is affordable.
What is a credit score?Generally, When buying a home, there are several things your friend should consider:
Financing: Your friend should determine how much they can afford to spend on a home and what type of mortgage loan they qualify for. They should also research different types of loans and compare interest rates and fees from different lenders. They should also check their credit score and work on improving it if necessary.
Budgeting: Your friend should also create a budget that includes not only the cost of the home, but also closing costs, moving expenses, and ongoing costs of homeownership such as property taxes and insurance.
Searching: Your friend should research different neighborhoods and consider factors such as location, schools, and amenities. They should also tour homes and consider the condition and layout of each.
Making an offer: Once your friend finds a home they want to purchase, they should work with a real estate agent to make an offer that takes into account the home's condition, the local housing market, and the seller's motivation.
Closing: After the offer is accepted, your friend should work with a lender to complete the mortgage process and close on the home.
To make the home-buying process smoother, your friend should also consider working with a real estate agent, who can help them navigate the process and find homes that meet their needs and budget.
Additionally, a good credit score will help your friend qualify for better mortgage rates and terms.
To determine what is affordable, your friend should consider their income, debt, and long-term financial goals, as well as the cost of homeownership in the areas where they're looking to buy.
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Crane Corporation is reviewing an investment proposal. The initial cost is $103,400. Estimates of the book value of the investment at the end of each year, the net cash flows for each year, and the net income for each year are presented in the schedule below. All cash flows are assumed to take place at the end of the year. The salvage value of the investment at the end of each year is assumed to equal its book value. There would be no salvage value at the end of the investment’s life.
Year Initial Costand Book Value Annual Cash Flows Annual Net Income
0 $104,500
1 69,300 $45,900 $10,700
2 42,100 40,300 13,100
3 21,100 35,000 14,000
4 7,700 30,800 17,400
5 0 25,600 17,900
Drake Corporation uses an 11% target rate of return for new investment proposals.
Required:
a. What is the cash payback period for this proposal?
b. What is the annual rate of return for the investment?
c. What is the net present value of the investment?
Answers
a) The cash payback period for Crane Corporation's investment proposal is 3 years.
b) The annual rate of return for the investment is as follows:
Year 1 = 10% ($10,700/$104,500 x 100)
Year 2 = 19% ($13,100/$69,300 x 100)
Year 3 = 33% ($14,000/$42,100 x 100)
Year 4 = 82.5% ($17,400/$21,100 x 100)
Year 5 = 232% ($17,900/$7,700 x 100)
c) The net present value of the investment by Crane Corporation is $30,643.
Data and Calculations:Target rate of return = 11%
Year Initial Cost and Book Value Annual Cash Annual Net
Flows Income
0 $104,500
1 69,300 $45,900 $10,700
2 42,100 40,300 13,100
3 21,100 35,000 14,000
4 7,700 30,800 17,400
5 0 25,600 17,900
The cash payback period is 3 years ($104,500 - $45,900 - $40,300 - $35,000).
Net Present Value:Year Annual Cash Flows PV Factor Present Value
0 -$104,500 1 -$104,500
1 $45,900 0.901 $41,356
2 $40,300 0.812 32,724
3 $35,000 0.731 25,585
4 $30,800 0.659 20,297
5 $25,600 0.593 15,181
Net Present value = $30.643
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Buyers who are aware of Firm’s ___________________ might desire to purchase its products because price no longer remains a limiting factor
1)location
2)prestige
3)competition
whixh one is correct
Answers
Answer:
2) prestige.
Explanation:
Buyers who are aware of Firm’s prestige might desire to purchase its products because price no longer remains a limiting factor.
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List 5 ways Chapter 7 and Chapter 13 Bankruptcies are similar:
Answers
Answer:
Explanation:
While Chapter 7 eliminates your debts while Chapter 13 restructures them, you will be able to enjoy something called an “automatic stay” when you file either. This stay means that your creditors are unable to contact you about recovering existing debts while the order is in place, and can be penalized by the courts if they violate the stay. In addition, this stay will put a halt to any wage garnishing that you have been subject to, meaning that you will be able to retain all of your earnings during this time.
Name and explainations of 2 CSR/CSR initiatives that Woolworths carries out
Answers
Woolworths introduced The Good Business Journey in 2007 as a long-term initiative as part of their corporate social investment (CSI) plan. My Village My School Woolworths' educational program, etc.
What are CSR initiatives ?Woolworths is also funding a trial program for nutrition and a WASH (water, sanitation, and hygiene) program.
The program trains community members who volunteer to handle food in the safe and hygienic preparation of nutritious lunches for kids.
According to Schreuder, Woolworths has been successful in providing high-quality goods, convenience, and quick service while rapidly growing, including a growing presence in gas station forecourts.
This demonstrates that, when given the option, people are willing to pay extra for high-quality goods.
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What type of professional is MOST likely to work for themselves and are not employed by a business or agency?
freelancer
advertising sales agents
editors
market research analysts
Answers
Answer: Freelancer is the correct option.
Explanation: Freelancer is the type of professional who is most likely to work for themselves and is not employed by a business or agency because he or she is an individual going to earn on a per-task basis and they generally work a very short period as they are not directly employed by a business firm or a company on a signed agreement. Thus, they enjoy the liberty to work on a various jobs for different clients from various fields of work.
I will give brainliest and ratings if you get this correct
Answers
3.1 The equilibrium price and quantity for City 1 are 75 and 25, respectively and the total profit for the monopoly is 3775.
3.2 City 2 has a lower price elasticity of demand than City 1.
How to calculate the value3.1. To find the equilibrium price and quantity for each city, we need to equate the demand curve with the marginal cost curve. For City 1, we have:
P₁ = 100-Q = MC = 25
Solving for Q, we get:
Q₁ = 25
Plugging this value of Q into the demand curve for City 1, we get:
P₁ = 100-25 = 75
Therefore, the equilibrium price and quantity for City 1 are 75 and 25, respectively.
We can do the same thing for City 2 to find that the equilibrium price and quantity are 95 and 20, respectively.
To find the profit for each city, we can use the following formula:
Profit = (Price - MC) * Quantity
For City 1, we have:
Profit₁ = (75 - 25) * 25 = 1875
For City 2, we have:
Profit₂ = (95 - 25) * 20 = 1900
Therefore, the total profit for the monopoly is 3775.
3.2. To find the price elasticity of demand for each city, we can use the following formula:
Ed = -(ΔQ/Q)/(ΔP/P)
For City 1, we have:
Ed₁ = -(ΔQ₁/Q₁)/(ΔP₁/P₁) = -(0/25)/(25/75) = -1
For City 2, we have:
Ed₂ = -(ΔQ₂/Q₂)/(ΔP₂/P₂) = -(0/20)/(95/120) = -2
Therefore, City 2 has a lower price elasticity of demand than City 1.
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Victory Company uses weighted-average process costing to account for its production costs. Conversion cost is added evenly throughout the process. Direct materials are added at the beginning of the first process. During November, the first process transferred 715,000 units of product to the second process. Additional information for the first process follows. At the end of November, work in process inventory consists of 201,000 units that are 90% complete with respect to conversion. Beginning work in process inventory had $416,780 of direct materials and $201,578 of conversion cost. The direct material cost added in November is $2,789,220, and the conversion cost added is $3,829,972. Beginning work in process consisted of 80,000 units that were 100% complete with respect to direct materials and 80% complete with respect to conversion. Of the units completed, 80,000 were from beginning work in process and 635,000 units were started and completed during the period.
Required:
Determine the equivalent units of production with respect to direct materials and conversion.
Answers
Answer:
Equivalent units : Direct materials = 916,000 units and Conversion = 895,900 units
Explanation:
Calculation of equivalent units of production with respect to direct materials and conversion.
1. Direct Material
Ending Work In Process Inventory (201,000 × 100%) = 201,000
Completed and Transferred Out (715,000 × 100 %) = 715,000
Equivalent units of production with respect to direct materials = 916,000
2. Conversion
Ending Work In Process Inventory (201,000 × 90%) = 180,900
Completed and Transferred Out (715,000 × 100 %) = 715,000
Equivalent units of production with respect to direct materials = 895,900
NEED HELP ASAP
There 22 Question
Answers
Raymond has a complex question. He would like to use the database to answer the question. He should__
conduct a search
complete a questionnaire
sort
conduct a query
Answers
Answer:
conduct a query.
Explanation:
I think it's between search and query.
Assume that Thomas can afford to buy as many candy bars and ice cream cones as he wants. He would continue to consume both candy bars and ice cream until the
Answers
Answer:
Marginal utility of each becomes negative
Explanation:
Utility is defined as the level of satisfaction that a person gets from consuming a product.
The person keeps on consuming the item until the level of marginal utility for the product becomes less than zero.
That is there is no satisfaction anymore in consuming the product.
In the given instance Thomas will continue to consume both candy bars and ice cream until the level of satisfaction (marginal utility) is now less than zero or negative
Which of the outcomes in are most appealing to you? Are you more attracted to extrinsic outcomes or intrinsic outcomes?
Answers
Extrinsic outcomes are external rewards such as money, status, or recognition that come from achieving a goal. These outcomes are appealing to some individuals because they provide tangible benefits and can be easily measured by others.
On the other hand, intrinsic outcomes are internal rewards such as personal satisfaction, a sense of accomplishment, or personal growth that come from achieving a goal. These outcomes are appealing to some individuals because they provide a deeper sense of fulfillment and can be more meaningful in the long-term.
Ultimately, whether someone is more attracted to extrinsic or intrinsic outcomes depends on their personal values and goals. Some people may prioritize external rewards and seek to maximize their income or social status, while others may prioritize personal growth and seek to achieve goals that align with their passions and values.
It is important to strike a balance between both types of outcomes and to find a sense of purpose and satisfaction in the goals that we pursue.
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A jeans maker is designing a new line of jeans called Slims. The jeans will sell for $355 per pair and cost $262.70 per pair in variable costs to make. (Round your answers to 2 decimal places.)
Required:
a. Compute the contribution margin per pair.
b. Compute the contribution margin ratio.
Answers
Answer:
a.$92.30
b.27.55%
Explanation:
a. Computation for the contribution margin per pair
Sales 355.00 per pair
Less:Variable cost $262.70 per pair
Contribution margin $92.30 per pair
Therefore the Contribution margin per pair will be $92.30
b. Computation for the contribution margin ratio.
Using this formula
Contribution margin ratio=Contribution margin per unit/Selling price per unit
Where,
Contribution margin per unit =$92.30
Selling price per unit =$335.00
Let plug in the formula
Contribution margin ratio=$92.30/$335.00
Contribution margin ratio =27.55%
Therefore the Contribution margin ratio will be 27.55%
a corporation has taken out a loan to finance a new operation. What is the name of that type of financing called? A .Collateral financing B. debt financing C. bank financing D. retained earnings financing?
Answers
Since the corporation took out a loan, the name of that type of financing is called debt financing.
What are the two major funding options for corporations?The two primary funding options for corporations are debt financing and equity financing.
Debt financing entails taking a loan from a bank or selling fixed-income securities like bonds.
Equity financing is the practice of raising funds through the selling of shares.
As the corporation took out a loan, the name of that type of financing is called debt financing.
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Ransport Company has made an investment in another company that will guarantee it a cash flow of $37,250 each year for the next five years. If the company uses a discount rate of 15 percent on its investments, what is the present value of this investment?
Answers
Answer:
PV= $124,867.78
Explanation:
Giving the following information:
Cash flow= $37,250
Discount rate= 15%
Number of periods= 5 years
To calculate the present value, we need to use the following formula:
PV= A*{(1/i) - 1/[i*(1 + i)^n]}
PV= 37,250*{(1/0.15) - 1/[0.15*(1.15^5)]}
PV= $124,867.78
Megazone Limited is well known for its focus on innovation and this is highlighted in the company’s website. The website
also tells a story of growth and success in the marketplace. This, combined with the excellent quality products offered,
has made Megazone Limited a leader in the marketplace. At the end of 2021 the plant and equipment (at carrying value)
totalled R5 000 000, a long-term investment was valued at R400 000, inventories amounted to R2 050 000, R1 750 000
was owed by trade debtors, cash in the bank amounted to R350 000, the ordinary share capital balance was R3 100 000,
the accumulated undistributed profits amounted to R2 500 000, an amount of R3 350 000 was owed to Vap Bank in
respect of a long-term loan, R270 000 was owed to the trade creditors, R250 000 was owed to shareholders for the final
dividend and R80 000 was owed to SARS for income tax.
At the end of 2022 the plant and equipment (at carrying value) totalled R6 250 000, the long-term investment was valued
at R350 000, inventories amounted to R2 150 000, R1 900 000 was owed by trade debtors, cash in the bank amounted to
R500 000, the ordinary share capital balance was R3 100 000, the accumulated undistributed profits amounted to R3
000 000, an amount of R3 600 000 was owed to Vap Bank in respect of the long-term loan, R1 200 000 was owed to the
trade creditors, R200 000 was owed to shareholders for the final dividend and R50 000 was owed to SARS for income
tax. The depreciation, operating profit, interest expense and income tax for the year ended 31 December 2022 amounted
to R750 000, R1 650 000, R450 000 and R400 000 respectively. Dividends paid and recommended amounted to
R300 000.
In keeping with the company’s growth strategy, the directors have identified two possible investment opportunities for
2023 viz. Project X and Project Y. An investment of R1 000 000 is required for each project. The useful life of each
project is estimated to be five years. Project X is expected to generate net cash flows of R350 000 (Year 1), R340 000
(Year 2), R330 000 (Year 3), R230 000 (Year 4) and R280 000 (Year 5). Project Y is expected to generate net cash flows
of R330 000 per year over its useful life. A scrap value of R100 000 (not included in the figures above) is anticipated for
Project X only. The company’s cost of capital is predicted to be 15%. The straight-line method of depreciation is used by
the company.
Answer ALL the questions in this section.
QUESTION 1 (15 Marks)
Prepare the financial statement for the year ended 31 December 2022 that provides details about the cash inflows and
cash outflows of Megazone Limited..
Answers
The financial statement for the year ended December 31, 2022 is Net Cash Provided by Operating Activities R (150,000), Net Cash Used in Investing Activities (1,600,000) and Net Cash Used in Financing Activities (250,000).
To prepare the cash flow statement for Megazone Limited for the year ended December 31, 2022, we need to analyze the information provided and categorize the cash flows into three main sections: operating activities, investing activities, and financing activities. Here's the breakdown:
Operating Activities:
Cash received from customers (trade debtors) R1,900,000Cash paid to trade creditors (1,200,000)Interest paid to Vap Bank (450,000)Income tax paid to SARS (400,000)Net Cash Provided by Operating Activities R (150,000)Investing Activities:
Purchase of plant and equipment (1,250,000)Purchase of long-term investment (350,000)Net Cash Used in Investing Activities (1,600,000)Financing Activities:
Long-term loan from Vap Bank 250,000Dividends paid to shareholders (300,000)Final dividend to shareholders (200,000)Net Cash Used in Financing Activities (250,000)Net Increase/(Decrease) in Cash (2,000,000)
Cash at the Beginning of the Year 350,000
Cash at the End of the Year R (1,650,000)
The cash flow statement shows that Megazone Limited had a net decrease in cash of R2,000,000 during the year. The operating activities resulted in a net cash outflow of R150,000, primarily due to payments to trade creditors, interest expense, and income tax.
The investing activities resulted in a net cash outflow of R1,600,000, mainly due to the purchase of plant and equipment and a long-term investment.
The financing activities resulted in a net cash outflow of R250,000, mainly due to dividends paid to shareholders.
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Why is keeping a journal about what is good and bad regarding your summer or part-time work a good idea to help you choose a career path
Answers
The correct answer to this open question is the following.
Keeping a journal about what is good and bad regarding my summer or part-time work is a good idea to help me choose a career path because writing down what I like and what I dislike, I can get a pretty close idea of the things I enjoy and have more skills to perform, compared to the things I do not like or I have no abilities at all.
If a clearly identify my skills and abilities in the workplace during the summer, it will be easier for me to identify what could be the profession I love or at least, what I am attracted to.
As it is difficult to remember all the work experience by memory, writing the journal will help me to remember exact dates, specific activities that I enjoyed or were interesting, and what was not.
Each of these is an emerging energy career
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There are several emerging energy careers that are gaining popularity in today's world. One such career is that of a renewable energy technician. Renewable energy technicians work to install, maintain, and repair renewable energy systems such as wind turbines, solar panels, and geothermal systems.
Another emerging energy career is that of an energy analyst. Energy analysts work to evaluate energy usage patterns and identify areas where energy efficiency improvements can be made. They may also develop and implement strategies for reducing energy consumption and cost. This field is becoming increasingly important as individuals and businesses alike seek to reduce their carbon footprint and lower energy expenses.
A third emerging energy career is that of a battery storage technician. As energy storage becomes more important in the transition to renewable energy sources, the demand for skilled technicians to install and maintain battery storage systems is growing. Battery storage technicians work with a variety of battery types, including lithium-ion, lead-acid, and flow batteries, and are responsible for ensuring these systems operate efficiently and safely.
In conclusion, the renewable energy technician, energy analyst, and battery storage technician are all emerging energy careers that offer exciting opportunities for those interested in pursuing a career in the energy industry. As the world continues to transition to renewable energy sources, the demand for skilled workers in these fields is only likely to grow.
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Which two of the following statements are true about Attribution reports?
Select All Correct Responses
A. App conversions and store visits are included in Attribution reports
B. App conversions and store visits are not included in Attribution reports
C. Attribution reports can help you estimate how changes to your attribution model might impact conversion reporting
D. Attribution reports can help you evaluate and optimize performance after you’ve changed your attribution model
Answers
B. App conversions and store visits are not included in Attribution reports of the following statements are true about Attribution reports.
What is revealed by an attribution report?The paths customers follow to complete conversions are displayed in attribution reports, which also offer insights into how your various advertising campaigns interact to produce conversions. You may check, for instance, whether some keywords helped with conversions that subsequently came about as a result of other keywords.
Store visits and app conversions are excluded from Attribution reports. You can make an educated guess about how adjustments to your attribution model would affect conversion reporting using attribution reports. After changing your attribution model, attribution reports can aid in performance evaluation and optimization.
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