Sales Cutoff, Inventory Valuation and Materiality Today is March 19, 2021 and you work for the firm of Teper and Lubetsky, Auditors.
You are auditing the Singh Canada Company for its Sales Cutoff for the fiscal year
ending December 31, 2020.
Singh Canada Company management's draft financial statements include these items
on the Balance Sheet:
Current Assets:
$500,000 Cash
$700,000 Accounts Receivable
$600,000 Inventory.
$1,800,000 TOTAL Current Assets
Current Liabilities:
$1,000,000 TOTAL Current Liabilities
As a result, the Current Ratio = Current Assets divided by Current Liabilities = 1.8.​

Bond x is noncallable and has 20 years to maturity, a 7% annual coupon, and a $1,000 par value. your required return on bond x is 10%; if you buy it, you plan to hold it for 5 years. you (and the market) have expectations that in 5 years, the yield to maturity on a 15-year bond with similar risk will be 9.5%. how much should you be willing to pay for bond x today? (hint: you will need to know how much the bond will be worth at the end of 5 years.) do not round intermediate calculations. round your answer to the nearest cent.

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Consider the scenario below and let us know if you believe lauren smith's actions to be ethical. let us know why or why not. lauren smith is the controller for sports central, a chain of sporting goods stores. she has been asked to recommend a site for a new store. lauren has an uncle who owns a shopping plaza in the area of town where the new store is to be located, so she decides to contact her uncle about leasing space in his plaza. lauren also contacted several other shopping plazas and malls, but her uncle’s store turned out to be the most economical place to lease. therefore, lauren recommended locating the new store in her uncle’s shopping plaza. in making her recommendation to management, she did not disclose that her uncle owns the shopping plaza. if management decided to go with lauren's uncle's plaza, what additional information would be needed in the financial statements?