Problem 1

Venus Company revealed the following chronological transactions:

Purchased 80,000 shares, par P10, at P30 per share as long-term investment.

Received a share dividend of one share for every four owned.

Received additional shares due to 3 for 1 share split.

Received cash dividend of P5 per share.

Received share rights to purchase on share at P30 for every three rights held. On this date, the share right has a market value of P3.

Sold 200,000 rights at P7 each.

Exercised the 60,000 rights.

The remaining rights expired.

Sold 100,000 shares at P10 each.

Required:

Prepare necessary journal entries.

Compute the balance of Investment in Shares account

Problem 2

Chain Company had the following transactions:

2019

Aug. 1 Purchased 1,000 shares of Moon Company for P100,000

Oct. 1 Purchased 8,000 shares of Moon Company for P560,000

2020

July 1 Purchased 6,000 shares of Star Company for P480,000

Aug. 1 Sold 5,000 shares of Star Company for P500,000.

2021

Feb. 1 Received 50,000 share dividend.

Nov. 1 Received share rights to purchase one new share at P60 for every 5 rights tendered. On this date, the right is quotes at P10.

Dec. 1 Sold all share rights P15 per right.

Required: Prepare journal entries to record the transactions using average and FIFO. Assume that the share rights are accounted for separately.

Problem 3

Omega Company acquired 20,000 shares of Zion Company on January 1, 2019 at P150 per share. Zion Company had 80,000 shares outstanding with a carrying amount of P8,000,000. The difference between the carrying amount and fair value of Zion Company on January 1, 2019 is attributable to building .

Zion Company recorded earnings of P3,600,000 and P3,900,000 for 2019 and 2020, respectively, and a per-share dividend of P16 in 2019 and P20 in 2020. Omega Company has a 10-year straight line depreciation policy for building.

Required:

Compute for the percentage of ownership.

Compute the investment income for 2019.

Compute for the investment income for 2020.

Compute for the dividend income for 2019 and 2020.

Compute for the caring amount of Investment in Associates at the end of 2020.

Problem 4

On January 1, Forest Company acquired 30% interest in an investee at a cost of P3,200,000. The equity of the investee on the date of acquisition was P6,000,000, consisting of P4,000,000 share capital and P2,000,000 retained earnings.

All the identifiable assets and liabilities of the investee were recorded at fair value except for an equipment with a fair value of P3,000,000 greater than carrying amount. The remaining useful life of the equipment is 5 years.

On July 1, 2019, the investee sold and equipment for P900,000 to Forest Company. The carrying amount of the equipment is P500,000 at the time of sale. Forest Company applies a 10% straight line depreciation.

On December 31, 2019, Forest Company had inventory costing P2,000,000 on hand which had been purchased from the investee. A profit of P600,000 had been made on the sale.

During the current year, the investee reported net income of P4,000,000 and paid dividend of P1,500,000.

The equity of the investee on December 31, 2019 showed the following:

Share capital 4,000,000

Retained earnings 3,500,000

Retained earning appropriated 1,000,000

Revaluation surplus 3,000,000

The revaluation surplus arose from a revaluation of land made on December 31, 2019. The retained earnings appropriated arose from a transfer of unappropriated retained earnings to retained earnings appropriated for contingencies.

Required:

Determine the goodwill arising from the acquisition.

Determine the investment income from the current year.

Prepare journal entries for the current year.

Determine the carrying amount of the Investment in Associate at the end of 2019.

1. Which is a major goal of translational genomics? a) Disease diagnosis b) Population statistics for genetic mutations c) The chemical structure of DNA d) Understanding rRNA transcription b Which issue raises the epistemological problem n biology? a) The structure of the genetic code b) The stochastic dynamical nature of biological systems c) Molecular interactions d) Regulatory logic () Which of the following pertains to the constitution of scientific knowledge? a) Mathematical theory b) A model agreeing with human intuition c) Detailed computer simulations d) Precise graphics d). Which plays a determining role in the nature of scientific knowledge? a) Reasonableness of the theory b) Explanatory capability of models c) Causal relations d) The criteria for truth Which is not a step in the synthesis protocol? a) Construct the mathematical model b) Define the optimization problem c) Solve the optimization problem d) Collect data(25 pts) The Euclidean norm of a d dimensional vector x, is defined as ||x /2 = /), x2. Given ad x d square matrix M, we are interested in the following optimization problem: Maximize a Ma subject to |x|} = 1 (Hint: this question will use a bit of linear algebra) 1. What is the maxima for the above optimization problem (in terms of matrix M), show your steps. 2. What is the maximum value of the above optimization problem.4) You have learned in this course that one of the most practical applications of Derivatives is in the process of "Optimization Problems". You have been taught, in general, the key ideas, features, processes, and steps necessary to correctly solve an Optimization Problem. Given an optimization problem, explain how to go about solving it. In addition, explain under what circumstances your answers would be inadmissible/invalid based on the question being asked.Describe the protocol of the online convex optimization (0C0) framework and answer the following questions. I Let A be an algorithm for 0C0. How to measure the performance of this algorithm? In other words, what make this algorithm a good 0C0 algorithm? a What are the differences between DOD and classical mathematical optimization? Question 3 ccounting theorists? Some researchers who utilise Legitimacy Theory posit that organisations will attempt to operate within the terms of their 'social contract'. What is a social contract? Question 4 In 2006 the Australian Government established an inquiry into corporate social responsibilities with the aim of deciding whether the Corporations Act should be amended so as to specifically include particular social and environmental responsibilities within the Act. At the completion of the inquiry it was decided that no specific regulations would be added to the legislation, and that instead, 'market forces' would be relied upon to encourage companies to do the 'right thing' (that is, the view was expressed that if companies did not look after the environment, or did not act in a socially responsible manner, then people would not want to consume the organisations' products, and people would not want to invest in the organisation, work for them, and so forth. Because companies were aware of such market forces they would do the 'right thing' even in the absence of legislation). You are required to explain the decision of the government that no specific regulation be introduced from the perspective of: 1. Public Interest Theory 2. Capture Theory 3. Economic Interest Group Theory of regulation