Question 1
You need to prepare a memo (GA-5) addressing materiality for Apollo Shoes. Remember that the workpapers document that we are following Generally Accepted Auditing Standards. In the memo, Briefly describe independent auditors? concept of materiality. Describe some common relationships and other considerations used by auditors when assessing the dollar amount considered material. In other words, what are some common measures of materiality with respect to income, sales, and total assets? Based upon your professional judgment and your discussion of items 1 and 2 above, determine an amount you consider to be a minimum material misstatement for Apollo Shoes and justify your recommendation in your memo,I hope you can finish within 28 hrs. Also, if possible can you send me whatever you've done by tonight..Only if possible..if not just send me the answers in 28 hrs..good luck,Good work..This is what I got from my instructor... Also I always approach it from a couple of different angles I look at Sales, total assets, maybe net income if it is historically stable. I apply a percentage to each number say 5% to sales and maybe 10% to fixed assets, then another % to net income. I then look at the FS balances and assign a level of risk (low, medium, high) to each FS line item. I then review the results of the earlier calculations and then select one or a number in between, what ever feels right to get me started. I then change my mind several times=) I would use bullet points and keep your statements simple. Can you add one paragraph with what % should appollo use if possible.. if not thats fine..It already looks good..I will add some more..Also Do I need to rephrase it? Thanks for the assignment ...U rock and I'll post more questions next week or two..hope U'll help me now that you're familiar with the case
Question 2
Here are 4 questions I Have. Please be as short as possible. thank you. 1. Nina owns a used car lot. She signs and sends a fax to Seth, a used car wholesaler who has a huge lot of cars in the same city. The fax says, ?Confirming our agrmt ? I pick any 15 cars fr yr lot 30% below blue book.? Seth reads the fax, laughs, and throws it away. Two weeks later, Nina arrives to purchase 15 of Seth?s cars. Is he obligated to sell? 2. Fred Witt owned a Ford Bronco. Steve Rosen operated a used car lot. Witt delivered his automobile to Rosen, asking him to resell it if he could. Witt specified that he wanted all cash for his car, not cash plus a trade-in. Rosen sold the car to Richard Park for $12,800, but took a trade-in as part payment. Rosen promised to deliver the Bronco?s certificate of title to Park within a few days, but never did. He was also obligated to deliver proceeds of the sale to Witt, and of course failed to do that. Park claimed that the car was rightfully his. Witt argued that Park owned nothing because he never got the title and because Witt never got his money. Who loses and why. 3. Jones, an employee of Maxwell's garage, insists on using gasoline rather than nonflammable solvents to clean mechanical parts because, in his words, "nothing works like gasoline." One day, Ralph Maxwell, the owner of the garage, absentmindedly lights a cigarette while cleaning some parts. The resulting explosion severely injures Ralph and burns down Maxwell's garage and the massage parlor next door. In addition, Ralph's dog Spot is set ablaze and Spot runs 2 blocks before collapsing on the porch of a house belonging to Thomas. Thomas's house is set on fire and burns to the ground. The owners of the massage parlor and Thomas sue Ralph for negligence. What result for the massage parlor? What result for Thomas? Please be sure to give me COMPLETE analysis for each one of these scenarios and to provide the COMPLETE RULE. 4. On January 1, Damon, for consideration, orally promised to pay Gary $300 a month for as long as Gary lived, with the payments to be made on the first day of every month. Damon made the payments regularly for nine months and then made no further payments. Gary claimed that Damon had breached the oral contract and sued Damon for damages. Damon contended that the contract was unenforceable because, under the Statute of Frauds, contracts that cannot be performed within one year must be in writing. Discuss whether Damon will succeed in this defense.
Question 3
2. Wolfson Corporation has decided to purchase a new machine that costs $4.98 million. The machine will be depreciated on a straight-line basis and will be worthless after four years. The corporate tax rate is 25 percent. The Sur Bank has offered Wolfson a four-year loan for $4.98 million. The repayment schedule is four yearly principal repayments of $1,245,000 and an interest charge of 8 percent on the outstanding balance of the loan at the beginning of each year. Both principal repayments and interest are due at the end of each year. Cal Leasing Corporation offers to lease the same machine to Wolfson. Lease payments of $1.4 million per year are due at the beginning of each of the four years of the lease. Requirement 1: (a) Calculate the NAL. (Do not include the dollar sign ($). Negative amount should be indicated by a minus sign. Round your answer to 2 decimal places. (e.g., 32.16)) NAL $ (b) Should Wolfson lease the machine or buy it with bank financing? Requirement 2: What is the annual lease payment that will make Wolfson indifferent to whether it leases the machine or purchases it? (Do not include the dollar sign ($). Enter your answer in dollars, not millions of dollars (e.g., 1,234,567). Round your answer to 2 decimal places. (e.g., 32.16)) PMT $
Question 4
The stock in Black Corporation is owned by Sam and Susan, who are unrelated. Sam owns 60% and Susan owns 40% of the stock in Black Corporation. All of Black Corporation?s assets were acquired by purchase. The following assets are to be distributed in complete liquidation of Black Corporation: Adjusted Fair Market Basis Value Cash $200,000 $200,000 Inventory 165,000 150,000 Equipment 210,000 250,000 Land 430,000 400,000 a. What gain or loss would Black Corporation recognize if it distributes the cash, inventory, and equipment to Sam and the land to Susan? b. What gain or loss would Black Corporation recognize if it distributes the cash and land to Sam and the inventory and equipment to Susan?,are you still working on this?,the answer was incorrect the correct answer is What gain or loss would Black Corporation recognize if it distributes the cash, inventory, and equipment to Sam and the land to Susan? Black Corporation will recognize a gain of $40,000 on the distribution of equipment to Sam, and a loss of $30,000 on the distribution of land to Susan, and the $15,000 loss on the inventory to Sam, but the loss will be disallowed. This is a distribution of loss property to a related party since Sam owns more than 50% stock and the distribution is not pro rata. What gain or loss would Black Corporation recognize if it distributes the cash and land to Sam and the inventory and equipment to Susan? Black Corporation will recognize a $30,000 loss on the land but it?s to a related party so it will be disallowed. And a gain of $40,000 on the equipment and a loss of $15,000 on the Inventory to Susan, the distribution of the inventory is not to a related party because Susan does not own more than 50% of the stock in Black Corporation.
Question 5
BUSN311-1202B-09 Quantitative Methods and Analysis Deliverable Length: 2 pages Details: Using AIU?s survey responses from the AIU data set, complete the following requirements in the form of a 2-page report: TEST #1 Perform the following two-tailed hypothesis test, using a .05 significance level: Intrinsic by Gender State the null and an alternate statement for the test Use Microsoft Excel (Data Analysis Tools) to process your data and run the appropriate test. Copy and paste the results of the output to your report in Microsoft Word. Identify the significance level, the test statistic, and the critical value. State whether you are rejecting or failing to reject the null hypothesis statement. Explain how the results could be used by the manager of the company. TEST #2 Perform the following two-tailed hypothesis test, using a .05 significance level: Extrinsic variable by Position Type State the null and an alternate statement for the test Use Microsoft Excel (Data Analysis Tools) to process your data and run the appropriate test. Copy and paste the results of the output to your report in Microsoft Word. Identify the significance level, the test statistic, and the critical value. State whether you are rejecting or failing to reject the null hypothesis statement. Explain how the results could be used by the manager of the company. GENERAL ANALYSIS (Research Required) Using your textbook or other appropriate college-level resources: Explain when to use a t-test and when to use a z-test. Explore the differences. Discuss why samples are used instead of populations. The report should be well written and should flow well with no grammatical errors. It should include proper citation in APA formatting in both the in-text and reference pages and include a title page, be double-spaced, and in Times New Roman, 12-point font. APA formatting is necessary to ensure academic honesty. Plese put finding on MS doc. that is attached,Hi Natalia, On this assignment there are a few things missing, you did not explain anything you just input the table and the numbers. Where is the explanations for your finfings? Could you please put everything on the attached documents I sent along with the assignment.,I need this back asap the assignment is due at tonight - midnight,Thanks for all your help,I also need the references,Theses are some of the questions you did not answer: Identify the significance level, the test statistic, and the critical value. State whether you are rejecting or failing to reject the null hypothesis statement. Explain how the results could be used by the manager of the company. GENERAL ANALYSIS (Research Required) Using your textbook or other appropriate college-level resources: Explain when to use a t-test and when to use a z-test. Explore the differences. Discuss why samples are used instead of populations. The report should be well written and should flow well with no grammatical errors. It should include proper citation in APA formatting in both the in-text and reference pages and include a title page, be double-spaced, and in Times New Roman, 12-point font. APA formatting is necessary to ensure academic honesty. Plese put finding on MS doc. that is attached,This is the AIU Data set Key the assignment supposed to be based of this. Please make the corrections.The data you used for this assignment does not correlate with the data set for this section of the assignment can you please fix the errors.,I understand that but what data did you use because I got a F on this assignment,I dont want to pay again for the same work,Do I have to pay again ?,I would like to know what data did you use to do the assignment because I got a "F"
