AUDITING+ASSURANCE 12MONTH ACCESS CARD
AUDITING+ASSURANCE 12MONTH ACCESS CARD
17th Edition
ISBN: 9780135635131
Author: ARENS
Publisher: WILEY
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Chapter 5, Problem 13RQ
To determine

Explain the manner in which Sarbanes-Oxley Act of 2002 increase criminal liability for auditors.

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On January 1, 2021, Nohara Inc, had cash and share capital of Yen 60,000,000. At that date, the company had no other asset, liability, or equity balances. On January 2, 2021, it purchased for cash Yen 20,000,000 of equity securities that it classified as non-trading. It received cash dividends of Yen 4,500,000 during the year on these securities. In addition, it has an unrealized holding gain on these securities of Yen 6,500,000 net of tax. Determine the following amounts for 2021: a) Net income. b) Comprehensive income. c) Other Comprehensive Income, and d) Accumulated other comprehensive income (end of 2021).
XYZ, Inc. has a beta of 0.8. The yield on a 3- month T-bill is 5%, and the yield on a 10- year T-bond is 7%. The market risk premium is 5.5%, and the return on an average stock in the market last year was 20%. What is the estimated cost of common equity using the CAPM?
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