You have been provided with the following two draft statements, Statement of Financial
Position (SOFP) and Statement of Comprehensive Income (SOCI) of APP Ltd for the year ended
30 June 2022 and additional information that have been prepared by the bookkeeper, Victor.

Statement of Financial Position as at 30 June 2022
For the year ended 30 June 2022 ($ 000) 2021 ($ 000)
Assets
Cash 2,050 1,950
Accounts receivable 16,785 19,670
Inventory 18,500 18,800
Prepaid Insurance 3,500 3,000
Non-current assets 25,500 25,000
Total assets 66,335 68,420
Liabilities
Accounts payable 15,237 13,240
Rent Payable 2,500 3,000
Provision 1,650 1,250
Interest Payable 550 250
Long-term bank loan 12,000 12,250
Total liabilities 31,937 29,990
Net assets 34,398 38,430
Shareholders' equity
Share capital 32,500 30,500
Retained earnings 1,898 7,930
Total shareholders' equity 34,398 38,430

Statement of Comprehensive Income for the year ended 30 June 2022
2022 ($ 000)
Sales 33,250
Less: Cost of Goods Sold 14,500
Gross profit 18,750
Revaluation Gain of Land (net of tax) 500
Income from discontinued operations 1,650
Less: Expenses
Operating Expenses 9,500
Depreciation 4,620
Expenses - discontinued operations 1,520
Interest paid 3,290
Total operating expenses 18,930
Net profit after tax 1,970

Additional information:
(i) Non-current assets consist of Property plant & Equipment of $18.5 Million and Intangible
assets of $7 Million as at 30 June 2022. As at 30 June 2021, Non-current assets consist of
Property plant & Equipment of $20.5 Million and Intangible assets of $4.5 Million


(ii) Income tax expense for the current year was $2,500,000 and it has been included under
operating expenses.


(iii) Income tax payable as at 30 June 2022 has been included under Accounts Payable and
the amount was $3,410,000. As at 30 June 2021, there was no income tax payable.
Nicole seeks your help to finalise the above two financial statements that are prepared by
Victor.


Required:
 Referring to NZ IAS 1, identify the principles that Victor has violated in preparing the Statement of
Financial Position and Statement of Comprehensive Income, and explain how each violation can
be rectified and presented correctly in these financial statements to meet NZ IAS 1 requirements.
Support your discussion with relevant paragraphs of NZ IAS 1

All of the reasons listed in the question are true.

Selling through Amazon using Amazon Fulfillment Services allows for products to be available for free Prime shipping, new customers to use their existing Amazon account information, products to be searched for and discovered on the Amazon website, and for Amazon to warehouse products.

Therefore, the answer to the question is true for all of the reasons listed.

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interpretation only holds when Y and X are in their original units, not in logarithmic form. Therefore, the correct answer to the question is still B the elasticity of Y with respect to X.

The log-log model is a linear regression model that uses logarithmic transformations of both the dependent variable (Y) and the independent variable (X) in order to estimate the relationship between them. Specifically, the model is specified as follows:
log(Y) = α + β log(X) + ε
where α is the intercept term, β is the slope coefficient, and ε is the error term.
The main advantage of the log-log model is that it allows us to estimate the elasticity of Y with respect to X, which is a measure of the percentage change in Y that results from a 1% change in X. This is because the slope coefficient in the log-log model is equal to the elasticity of Y with respect to X. Therefore, the correct answer to the question is B) the elasticity of Y with respect to X.
To understand why this is the case, we need to take the derivative of the log-log model with respect to X:
d(log(Y))/d(X) = β d(log(X))/d(X)
Using the chain rule, we can simplify this expression:
d(log(Y))/d(X) = β/X
This tells us that the percentage change in Y resulting from a 1% change in X is equal to β/X. In other words, the elasticity of Y with respect to X is β/X. It's worth noting that this interpretation of the slope coefficient only holds when both Y and X are in logarithmic form. If only one of them is transformed, the slope coefficient will not equal the elasticity of Y with respect to X. Furthermore, if we exponentiate both sides of the log-log model, we can see that the slope coefficient represents the effect that a unit change in X has on Y in percentage terms. This is because:
Y = exp(α) * X^β * exp(ε)
Taking the derivative of this equation with respect to X, we get:
d(Y)/d(X) = exp(α) * β * X^(β-1) * exp(ε)
Dividing both sides by Y and multiplying by X/Y, we get:
ΔY / ΔX. × Y/X = β

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Many organizations may not have a formal trouble reporting system for several reasons. One primary factor could be a lack of awareness regarding the benefits of such a system. Organizations might underestimate the importance of tracking and resolving issues in a systematic manner, which could lead to inefficiencies and dissatisfaction among employees and stakeholders.

Another reason could be the perceived complexity and cost associated with implementing a formal trouble reporting system. Organizations might assume that setting up such a system requires significant resources, both in terms of time and financial investment. This perception might discourage them from establishing a systematic approach to handling issues. Additionally, some organizations may rely on informal methods of reporting trouble, such as personal communication or ad hoc meetings, believing that these are sufficient for addressing problems. In reality, these methods may not be as effective as a formal system in terms of providing transparency, accountability, and traceability. Lastly, organizational culture and resistance to change could also play a role. Employees and management might be accustomed to existing processes and resistant to adopting new systems, especially if they believe that current methods are working well.

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Earned revenue is $14,000

Beginning unearned revenue + Advance payments - ending unearned revenue = Earned revenue

($7,000 + $20,000 - $13,000 = $14,000)

Earned revenue is the cash a charity receives in exchange for delivering goods or services. For museums and nonprofit performing arts groups, sales of tickets and entrance fees are typical sources of earned money. Items like sales in a gift shop or thrift store also produce earned revenue. Earned income is not generally prohibited by tax law; rather, the question is whether the income is connected to the charitable goals of the nonprofit. The charity must pay unrelated business income tax on any money received if it routinely engages in a trade or activity that is not closely linked to its exempt purpose. Additionally, if the organization derives a sizable portion of its overall income from unrelated commercial ventures

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the firm's total corporate value is 22.85 million.

According to the given data, we need to calculate the firm's total corporate value. Here, the Word Count is 100.The formula to calculate the Free Cash Flow to the Firm (FCFF) is:

FCFF = EBIT (1 - Tax rate) + Depreciation & Amortization - Cap

Ex - Increase in Net Working Capital= EBIT (1 - Tax rate) + Depreciation & Amortization - Cap

Ex - (Net Working Capital at year 2 - Net Working Capital at year 1)Now, we will calculate the FCFF using the above formula.

Year 1:

FCFF = EBIT (1 - Tax rate) + Depreciation & Amortization - Cap

Ex - (Net Working Capital at year 2 - Net Working Capital at year 1)= -30 (1 - 0.4) + 0 - 100 - (10 - 0)= -30 (0.6) - 100 - 10 = - 28Year 2:

FCFF = EBIT (1 - Tax rate) + Depreciation & Amortization - Cap

Ex - (Net Working Capital at year 2 - Net Working Capital at year 1)

= 130 (1 - 0.4) + 0 - 150 - (20 - 10)= 130 (0.6) - 150 - 10= -44

Now, we will calculate the value of FCFE (Free Cash Flow to Equity).

FCFE = FCFF + (Interest Expense - Net Borrowing)= -28 + (30 - 0)= 2 (in millions)

Here, the cost of equity is given as 16%.The weighted average cost of capital (WACC) = 11%.

The expected growth rate (g) after year 2 = 5%.

Now, we will use the formula of the Gordon Growth Model to calculate the firm's total corporate value.

Gordon Growth Model: V0 = (FCFE1 / (r - g))= (FCFE0 x (1+ g)) / (r - g)= (2 x (1 + 0.05)) / (0.11 - 0.05)= 22.85 (in millions)

Therefore, the firm's total corporate value is 22.85 million.

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Answer:

Sole proprietorship

Explanation:

I’m not 100% sure but it’s a sole individual business

Interacting with everyone in a similar experience is crucial for a more fulfilling metaverse experience. As a result, choice (B) is the proper response.

In science fiction and futuristic literature, the metaverse is a fictitious version of the Internet that is a single, all-encompassing virtual environment made possible by the usage of virtual reality (VR) and augmented reality (AR) devices. A metaverse is a collection of 3D virtual environments that are mostly utilized for social interaction.

The words "meta" and "universe" were combined to create the phrase "metaverse," which first appeared in the science fiction book Snow Crash in 1992.

Hence, option (B) is accurate.

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Answer:

Its a good investment

Explanation:

investing in an S&P500 provide a decent return because a S&P500 is like a basket of stocks so even though some don't provide return most of the stocks do give some return. Annually S&P500 gives a return of about 8% a year.

Investing in the S&P500 provides a decent return because the S&P500 is a basket of stocks, and while some do not provide a return, the majority of the stocks do.

The S&P 500 is a stock market index comprised of 500 large, industry-leading U.S. companies shares. It is widely followed and frequently used as a proxy for the overall health of the United States stock market.

An investor's portfolio can be instantly diversified by investing in an S&P 500 fund. The index was created in 1957 by Standard & Poor's, an American investment information service.

Thus, majority of shares provide profit is the reason of investing in S&P500.

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The items would appear in the checks and debits column of a bank statement and would cause a decline in the accounts balance is called withdrawals.

Withdrawals are transactions that remove funds from an account, and they can occur in various ways, such as ATM withdrawals, debit card purchases, and checks that have been cashed. When a withdrawal is made, the amount of money that was withdrawn is subtracted from the account's balance, causing it to decline.

It's essential to keep track of your withdrawals to ensure that you don't overspend and go into overdraft. An overdraft occurs when you withdraw more money than you have in your account, causing the account balance to go negative, and you may incur fees and penalties.

In conclusion, withdrawals are items that appear in the checks and debits column of a bank statement and cause a decline in the account's balance. It's crucial to keep track of your withdrawals to avoid overspending and going into overdraft.

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Answer:

Printing and Stationery expenses are indirect expenses. Therefore, these expenses are shown in expenses side of profit and loss account, so it will be in credit side of trial balance.

Answer:

if the supply increases, it could mean that the resources to make Iphones are increased. If there is an abundance of the computer chips Apple uses to make the iphones, the price of the chip lowers , which in turn lowers the cost to make an iphone.

Explanation:

Michael's autocratic leadership style may not be appropriate for running an organization like IM due to its potential drawbacks.

An autocratic leadership style is characterized by a leader who makes decisions without seeking input from others and exercises strict control over their subordinates. While this approach can be effective in certain situations, it may not be suitable for running an organization like IM. Firstly, IM likely requires a more collaborative and inclusive approach to tap into the diverse expertise and perspectives of its employees. Secondly, an autocratic leadership style can stifle creativity, innovation, and employee morale, which are crucial in a dynamic and competitive industry. Finally, a lack of employee involvement in decision-making may lead to decreased job satisfaction and increased turnover, ultimately hampering the organization's long-term success. Thus, a more participative leadership style may be more appropriate for IM.

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Answer:

A) 10%

Explanation:

According to the de minimis exemption, an offering made to the public at beginning  related to the common stock could be sold to the account in which there are restricted persons who have an interest i.e. benefited  as the interest should not exceed at 10% because it seems that the account could buy an issuance of new equity

Hence, the correct option is A. 10%

Answer:

it may personal finance

Explanation:

because it's is include personal site

Answer:

assets increase and liabilities increase. ... individual accounting record of increases and decreases in specific asset, liability, and stockholders' equity items.

Answer:

The demand for labour would decrease because it will be costly for the business keeping the workers.

Explanation:

If the quantity demanded for the product does not change while workers productivity increase this will make the quantity demanded for labour decrease because its costly to keep workers if the consumers demand does not change this means that the business is not making any profit.  

Answer:

As the supply of Gasoline goes up, the price goes down and the demand goes up, which the higher demand of gasoline will lower the supply and push the prices higher, which will lower the demand, and with the demand being low, the supply gets higher and the whole cycle starts again

Teamwork and communication played crucial roles in the Korean Airlines crashes and subsequent transformation. In the crashes, poor teamwork and communication were contributing factors. Cockpit hierarchies and cultural norms hindered effective information sharing and decision-making.

To improve safety, Korean Airlines underwent a comprehensive transformation. They focused on enhancing teamwork and communication skills through training programs. Crew Resource Management (CRM) training emphasized coordination, communication, and leadership.

The airline also fostered a culture of openness, encouraging individuals to speak up and actively participate in safety initiatives. Standardized procedures were implemented to ensure consistency and reduce miscommunication.

Korean Airlines established systems for incident reporting and analysis, creating a learning culture. Lessons from incidents were used to improve future operations.

Through these efforts, Korean Airlines significantly improved its safety performance and became one of the world's safest airlines. By prioritizing teamwork and communication, they overcame the challenges that contributed to the crashes and created a safer operating environment.

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It uses firm income (from $1 million including over $40 millions) and employment to define small businesses (from 100 to 1,500 employees).

Its U.S. Small Business Agency (SBA) supports Americans in establishing successful enterprises and fostering their growth. For instance, a roofing company is considered a small business by the SBA if their yearly sales are $16.5 million or less. A small business is described as a company that employs a small number of people, usually less than 500, and runs separately from bigger organisations. A sole proprietor or a small group of owners often run and own small firms, which are usually privately owned and operated.

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Answer:

The answer is time and money

Explanation:

I took the test on edge

Examples of limited resources on the part of consumers are time and money.

Limited resources are resources that can be depleted. They are of limited availability. As these resources are used, they decline.

For example, no one has an unlimited supply of money. As money is spent, the amount of money one has reduces. Also, time is limited. One has 24 hours in a day.

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False.

A declining EPS (Earnings Per Share) typically leads to a decrease in the price-earnings ratio (P/E ratio), not an increase. The price-earnings ratio is calculated by dividing the market price per share by the earnings per share. When the EPS decreases, it indicates that the company's earnings are declining or not growing at the same pace as before. This can result in investors perceiving the stock as less valuable, leading to a lower P/E ratio. Conversely, an increasing EPS often leads to a higher P/E ratio as investors perceive the stock as more valuable due to higher earnings.

When the EPS declines, it means that the company's earnings have decreased, which may indicate weaker financial performance or market conditions. In such cases, investors may be less willing to pay a high price for the company's stock relative to its earnings. This leads to a decrease in the P/E ratio, reflecting a lower valuation of the company's earnings.

Conversely, when the EPS increases, it tends to lead to an increase in the P/E ratio as investors perceive higher earnings growth potential and are willing to pay a higher price for the stock.

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Based on the trends of globalization, the following are true:

Globalization refers to the tendency of the world to become increasingly integrated across borders.

This means that individuals, businesses and governments, begin to work together more often in order to increase production and market reach.

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It can be seen from the solutions given that Cain's net income is $24,000.

Net income = Net cash provided by operating activities - Adjustments

= $35,000 - $6,000 - $10,000 + $4,000 + $7,000 + $4,000

= $24,000

Therefore, Cain's net income is $24,000.

Here is a breakdown of the adjustments:

To determine cash flow from operations, it is necessary to include the gain on equipment sales in the net income as it is a non-cash entry.

A rise in accounts receivable implies that customers are prolonging payment of their invoices, resulting in decreased cash flow from the company's activities.

The depreciation expense is classified as a non-cash expense, hence it must be included in the calculation of cash from operations by adding it back to the net income.

A decrease in inventory indicates that the company is experiencing faster turnover of its inventory, leading to increased cash flow generated by its operations.

A rise in prepaid expenses denotes that the company is channeling more funds towards prepaid expenditures like insurance and rent, implying a reduced cash inflow from its operational activities.

A decline in the amount of wages that the company owes indicates that it is not promptly compensating its workforce. Consequently, this implies that the company's operational cash flow is reduced.

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Answer:

Correct Answer:

III. If the auction fails, holders of ARS's may not have immediate access to his funds.

Explanation:

Auction rates securities are debt or preferred equity securities that have interest rates that are periodically re-set through auctions, typically every 7, 14, 28, or 35 days. Also, ARS are generally structured as bonds with long-term maturities (20 to 30 years) or preferred shares (issued by closed-end funds).  Failure of auction leads to the holders of ARS holding their investments up to 20 -40 years which is a very high risk.

Answer:

Friction

Explanation:

Friction is a force that resists relative motions of solid surfaces, etc

What is considered a human rights abuse by an American company may be viewed as an acceptable business practice in China, which illustrates that moral standards are relative to particular societies.

In summary, moral standards are what a person of society considers to be right or wrong regarding human behavior. These standards are often different in the distinct cultures and societies around the world, often due to differing histories that helped to form them.

Therefore, we can confirm that the situation described in the question is a direct result of the moral standards being relative to particular societies.

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Explanation:

to eliminate their best efforts in the company

Answer:

"bureaucratic barriers"

Explanation:

i got it right on plato

yes definitely.......