On 3 January×××× an irrevocable documentary credit for USD500,000.00 is confirmed. On 17 January ×××

A．on April 1, 1976

B．on January 3, 1977

C．on January 9, 2007

D．in August 2010

(c) State the tax consequences for both Glaikit Limited and Alasdair if he borrows money from the company, as

proposed, on 1 January 2006. (3 marks)

l life of five years, at which time it will have a salvage value of $10,000.Using the double-declining balance method, Year 3 depreciation expense is closest to:

A.$27,200

B.$16,320

C.$9,792

latest shipment date as "on or before 15th January".

Which of the following is the shipment date under this L/C？

(1)( ) 10th to 20th January.

(2)( ) 11th to 19th January.

(3)( ) Anytime before 15th January.

(4)( ) 9th to 21st January.

ed 31 December 2005

included the following figures:

$

Profit 684,000

Closing inventory 116,800

Trade receivables 248,000

Allowance for receivables 10,000

No adjustments have yet been made for the following matters:

(1) The company’s inventory count was carried out on 3 January 2006 leading to the figure shown above. Sales

between the close of business on 31 December 2005 and the inventory count totalled $36,000. There were no

deliveries from suppliers in that period. The company fixes selling prices to produce a 40% gross profit on sales.

The $36,000 sales were included in the sales records in January 2006.

(2) $10,000 of goods supplied on sale or return terms in December 2005 have been included as sales and

receivables. They had cost $6,000. On 10 January 2006 the customer returned the goods in good condition.

(3) Goods included in inventory at cost $18,000 were sold in January 2006 for $13,500. Selling expenses were

$500.

(4) $8,000 of trade receivables are to be written off.

(5) The allowance for receivables is to be adjusted to the equivalent of 5% of the trade receivables after allowing for

the above matters, based on past experience.

Required:

(a) Prepare a statement showing the effect of the adjustments on the company’s net profit for the year ended

31 December 2005. (5 marks)

ury Inflation Protection Security (TIPS) issue that has a 3% coupon rate. The annual rate of inflation over the first six months of the year is 3.5% and the annual rate of inflation for the second six months of the year is 4.0%. The amount of coupon interest paid to the investor after the second six months of the year isclosest to:

A. 1,557.

B. 1,577.

C. 1,597.

January 20X7 it made an issue of 4 million shares at full market price immediately followed by a 1 for 3 bonus issue.

The financial statements at 30 September 20X7 showed profit for the year of $12 million.

What was EPS for the year().

A、53c

B、73c

C、48c

D、50c

which peoplemake a bad situation worse by blaming themselves. One January, I had to officiate at two funerals onsuccessive days for two elderly women in my communi

A、They lived out a natural life

B、They died of exhaustion after the long plane ride

C、They weren’t accustomed to the change in weather

D、They died due to lack of care by family members

he first day of January of every future year from the commencement date, so that it is always valid for a minimum period of four years unless, at least thirty days prior to the 31st day of December of the first year of the current validity period, notice is given in writing, sent by registered mail, that this clean credit will not be extended beyond the current expiry date. Such credits are commonly called:

(1)( ) Evergreen credits.

(2)( ) Revolving credits.

(3)( ) Transferable credits.

Memo

Date: January 15, 2002

To: Employees in Research and Development Department

From: Mary Silvers, Project Manager

Re: New Flex-Time Policy Beginning March 1, 2002

The company is offering a new flex-time schedule to all employees. You must sign up for this plan by Feb. 20, 2006, in order to use it.

Components of the Plan

Employees must agree to:

* Work 40 hours a week(except normal vacation time, sick leave, or holiday weeks)

* Work a minimum of 4 days a week

* Work no more than 12 hours a day

* Arrive at work no later than 9:30 a.m.

* Leave work no earlier than 3:30 p.m.(unless you have completed 40 hours that week)

Scheduling Considerations

Employees may schedule work time as long as it fits the above criteria.

Employees who sign up for this new flex time scheduling must declare their work hours during the previous week.

The supervisor will take responsibility for recording each employee's work schedule.

Employees who wish to try this new plan must stay on it for three months before returning to the current policy.

Employees who may want to start it later, must wait until January of the next calendar year to sign up.

Important Reminder

Remember—Sign up by Feb. 20 to take advantage of the new Flex-Time schedule.

The memo is about

A．the employees will take responsibility for recording each employees work schedule

B．supervisor who may want to start it later, must wait until January of the next calendar

C．New Flex-Time Policy Beginning March 1, 2002

D．employers may schedule work time as long as it fits the above criteria