One of the measures the Federal Government has developed to help people financially during the corona crisis is to allow them to withdraw money from their superannuation funds. The government, and others, have pointed out that this will have an enormous impact on the retirement balances of those who take up this offer, due to the power of compound interest. Your task is to develop a model which highlights this impact. Your focus is an individual who is contemplating withdrawing money from his or her superannuation fund. Using your spreadsheet, a person should be able to enter their current age, their desired withdrawal amount and their projected earnings rate (as an effective annual rate of interest). The spreadsheet will then present…

Campus Fitness Center Modify a service report and create a chart   GETTING STARTED Open the file SC_EX16_CS1-3a_FirstLastName_1.xlsx, available for download from the SAM website. Save the file as SC_EX16_CS1-3a_FirstLastName_2.xlsx by changing the “1” to a “2”. If you do not see the .xlsx file extension in the Save As dialog box, do not type it. The program will add the file extension for you automatically. With the file SC_EX16_CS1-3a_FirstLastName_2.xlsx still open, ensure that your first and last name is displayed in cell B6 of the Documentation sheet. If cell B6 does not display your name, delete the file and download a new copy from the SAM website.   PROJECT STEPS Stella Scott has a work-study position at the fitness center…

The Mobile Vegan FINANCIAL TOOLS AND FUNCTIONS GETTING STARTED Open the file NP_EX16_9a_FirstLastName_1.xlsx, available for download from the SAM website. Save the file as NP_EX16_9a_FirstLastName_2.xlsx by changing the “1” to a “2”. If you do not see the .xlsx file extension in the Save As dialog box, do not type it. The program will add the file extension for you automatically. With the file NP_EX16_9a_FirstLastName_2.xlsx still open, ensure that your first and last name is displayed in cell B6 of the Documentation sheet. If cell B6 does not display your name, delete the file and download a new copy from the SAM website.   PROJECT STEPS You are a part-time manager for The Mobile Vegan, a food truck catering to vegan…

Corvallis Group Restore ANALYZE DATA WITH POWER TOOLS    GETTING STARTED Open the file NP_EX19_10b_FirstLastName_1.xlsx, available for download from the SAM website. Save the file as NP_EX19_10b_FirstLastName_2.xlsx by changing the “1” to a “2”. If you do not see the .xlsx file extension in the Save As dialog box, do not type it. The program will add the file extension for you automatically. To complete this SAM Project, you will also need to download and save the following data files from the SAM website onto your computer: Support_EX19_10b_History.csv Support_Ex19_10b_Restore.accdb With the file NP_EX19_10b_FirstLastName_2.xlsx still open, ensure that your first and last name is displayed in cell B6 of the Documentation sheet. If cell B6 does not display your name, delete the…

Patterson Manufacturing Company manufactures part #52749 for use in its production cycle. The costs per unit for 10,000 units of part #52749 are as follows: Direct materials  $3 Direct labor  $15 Variable overhead  $6 Fixed overhead  $8 Blundell Company has offered to sell Patterson 10,000 units of part #52749 for $30 per unit. If Patterson accepts Blundell’s offer, the released facilities could be used to save $45,000 in relevant costs in the manufacture of part #60657. In addition, $5 per unit of the fixed overhead applied to part #52749 would be totally eliminated. Required: What are the total relevant costs to manufacture part #52749? What are the total relevant costs to buy part #52749? What alternative is more desirable and by…

Helen Croker owns Divine Denim, a growing company making made to measure, designer denim jeans and jackets. She uses organic yarn-dyed cotton denim of different weights depending on the garment that she is making. Although she prefers to take the measurements herself, she is now making denim clothes for international customers using the self-measuring system she has developed and put online. For her custom clients, she takes measurements or uses the measurements supplied through her customers’ online application. She uses these measurements to alter the pattern for the design chosen by the client. The pattern is sent to the Cutting Department and the cut material then transferred to the Machining Department. Helen has recently expanded into a Ready to Wear (RTW)…

Bonza Juice Pty Ltd Barry Bonza is the Managing Director of Bonza Juice Pty. Ltd. which operates a chain of stores located within major shopping malls.The flagship store is in the Warriewood Shopping Centre on the Northern Beaches of Sydney.The store currently achieves annual sales of $200,000 of fresh fruit juice, $20,000 of canned soft drinks and $15,000 of packaged flavoured milk drinks. Barry is interested in purchasing the Whizzer 2.0 for the Warriewood store, which can produce smoothies in addition to the usual fresh fruit juices.The machine currently sells for $300,000. In order to assess the suitability of the new machine, Barry consulted Barbara Boost from the famous Boost Juice family.Barbara charged $1,000 for her advice.This is immediately fully tax-deductible.…

Question 1: Topic 1 - Accounting for Company tax Jamie Ltd’s profit before tax for the year ended 30 June 2020 was $172,400. Included in this profit are the following items of income and expense: Amortisation of development costs $12,000 Carrying amount of equipment sold 11,000 Depreciation – building (6%) 15,000 Depreciation – equipment (15%) 15,000 Depreciation – motor vehicle (20%) 5,800 Doubtful debts expense 1,700 Employee benefits expense 7,000 Entertainment expense  3,500 Fines and penalties 4,400 Goodwill impairment 2,000 Insurance expense 1,400 Interest revenue 800 Proceeds on sale of equipment  19,000 Rent revenue 15,000 Royalty revenue (exempt income) 3,000 Warranty expense 7,000   At 30 June, the company’s draft statements of financial position showed the following balances:   2020 2019…

Callable bond and call premium. Edward has just purchased a callable bond and wants to determine the bond's potential payoff price if it is called at any time during its callable life. The callable bond is a twenty-year semiannual bond that an issuer can call starting at year ten. It is callable every six months on the coupon payment date. The call price is declining and starts out as one extra year's coupon (a full annual coupon payment). It reduces each period (every six months by 1/20th of the annual coupon payment) until—at the bond's maturity—there is no call premium price. If the original bond is an 8% bond (with 4% coupons paid semiannually), a par value of $1,000 and an…