A university would like to estimate the proportion of fans who purchase concessions at the first basketball game of the season. The basketball facility has a capacity of 3,500 and is routinely sold out. It was discovered that a total of 230 fans out of a random sample of 500 purchased concessions during the game. Construct a​ 95% confidence interval to estimate the proportion of fans who purchased concessions during the game.

The​ 95% confidence interval to estimate the proportion of fans who purchased concessions during the game (____,___)

Question 1:
Part A: Financial Management

(a) Which business form has the following characteristics:

• Separate legal entity
• Liability of investors limited to amount of investment
• Allows separation of ownership and day-to-day management
• Taxed as a separate entity

(b) If you buy shares of Coca-Cola on the secondary market,

(c) Jennifer is your oldest child. Tomorrow is her 6th birthday. You plan to set up a savings plan for Jennifer's university education. You will deposit $4,000, tomorrow and every year up to and including her 17th birthday. How much will be available to Jennifer on her 18th birthday? Assume the relevant interest rate is 3.3% per year. Write your answer to the nearest cent.

RATIO ANALYSIS AT S&S AIR, INC.

Chris Guthrie was recently hired by S&S Air, Inc., to assist the company with its financial planning and to evaluate the company’s performance. Chris graduated from college five years ago with a finance degree. He has been employed in the finance department of a Fortune 500 company since then.

S&S Air was founded 10 years ago by friends Mark Sexton and Todd Story. The company has manufactured and sold light airplanes over this period, and the company’s products have received high reviews for safety and reliability. The company has a niche market in that it sells primarily to individuals who
own and fly their own airplanes. The company has two models: the Birdie, which sells for $103,000, and the Eagle, which sells for $178,000.

Although the company manufactures aircraft, its operations are different from commercial aircraft companies. S&S Air builds aircraft to order. By using prefabricated parts, the company can complete the manufacture of an airplane in only five weeks. The company also receives a deposit on each order, as well as another partial payment before the order is complete. In contrast, a commercial airplane may take one and one-half to two years to manufacture once the order is placed.

Mark and Todd have provided the following financial statements. Chris has gathered the industry ratios for the light airplane manufacturing industry.

QUESTIONS

1. Using the financial statements provided for S&S Air, calculate each of the ratios listed in the table for the light aircraft industry.

There is a “sex-linked”  gene that produces a protein that allows us to properly distinguish between red and green.  There are two alleles of this gene: One allele produces the functional protein; the other allele produces a non-functional protein.  In order to see normally, an individual needs only one allele that produces the functional protein (i.e. it’s not necessary to be homozygous for the functional-protein-producing-allele in order to see normally).

1. On what chromosome is this gene found? X

2. The allele that produces the functional version of the protein would most appropriately be represented by a  (BOLDthe correct answer)

capital letter    or    lower-case letter

3. The allele that produces the non-functional version of the protein would most appropriately be represented by a  (BOLDthe correct answer)

capital letter    or    lower-case letter

4. When choosing letter symbols to represent a gene that’s found on the X-chromosome, the following convention is typically used:

i. What letter combination would you chose to represent the allele that produces the functionalcolor-distinguishing protein? XA

ii. What letter combination would you chose to represent the allele that produces the non-functionalcolor-distinguishing protein? Xa

5. How many alleles of this gene do women have?  Why?

6. How many alleles of this gene do men have?  Why?

7. Complete the following table:

8. Suppose a man who is colorblind mates with a woman who is homozygous for normal vision.  Construct a Punnett square to show the expected genotypes and phenotypes of this couple’s offspring.  Use the letter symbols from part g.

                  i. If this couple has a son, what’s the probability that he will be colorblind?

                  ii. If this couple has a daughter, what’s the probability that she will be colorblind?

Suppose that a woman who is a carrier (heterozygous) for the colorblind trait mates with a man who has normal vision.  Construct a Punnett square to show the expected genotypes and phenotypes of this couple’s offspring.  Use the letter symbols from part g.

                  i. If this couple has a son, what’s the probability that he will be colorblind?

                  ii. If this couple has a daughter, what’s the probability that she will be colorblind?

Is it possible for a colorblind woman to have a son with normal vision?  Explain your answer;  you should used a Punnett square on scratch paper to help you justify your answer.

Please answer the highlight question...

Business Forms and the Accounting Equation

A business is an organization in which basic resources (inputs), such as materials and labor, are assembled and processed to provide goods or services (outputs) to customers. A business entity may take the form of a sole proprietorship, partnership, or corporation. Regardless of the business form, the accounting equation shows the relationship among the entity's assets, liabilities, and equity.

The Accounting Equation

The details of the activities of a company, or transactions, are recorded in a company's accounting system. These transactions are summarized in a set of reports known as the financial statements. The foundation for the accounting system and the financial statements is the accounting equation.

When a business is first formed, both sides of the equation are equal to zero. As transactions occur, they affect the accounting equation, but the accounting equation must always stay in balance. A transaction can increase both sides or decrease both sides. A transaction could also affect only one side by increasing and decreasing one side at the same time.

APPLYING THE CONCEPTS: Analyzing Changes to Assets, Liabilities and Equity

Thomas Company: The table below demonstrates the effect of the first three transactions for Thomas Company. Review the details of each transaction and determine the effect on the accounting equation. Then, enter the updated amounts for the assets, liabilities, and equity accounts (do not record the the transaction). Enter all amounts as positive numbers. If an updated balance is zero, enter "0".

Jones Company: Analyze the accounting equation for another business, Jones Company. Assume that the assets are $45,000 and the liabilities are $18,000. By rearranging the accounting equation, you determine that equity is $ .

During the year, the company issued additional stock for $4,000. The company also paid off $2,500 of its debt. What would the accounting equation look like at the end of the year for Jones Company? Enter the updated amounts for Jones' accounting equation below.

APPLYING THE CONCEPTS: Analyzing the Effect of Revenues and Expenses

The equity component of the accounting equation can be affected by more than owner contributions. In any form of business, the owners take all revenues and expenses. Therefore, equity increases for revenue earned and decreases for expenses incurred. Also in any form of business, money can be distributed from the business to the owners. Distributions (in the form of cash or other assets) to the owners (stockholders) decrease the equity account. Smith Company had transactions affecting equity during the past year. The table below demonstrates the effect of these transactions for Smith Company. Review the details of each transaction and determine the effect on the accounting equation. Then, enter the updated amounts for the assets, liabilities, and equity accounts (do not record the the transaction). Enter all amounts as positive numbers.

What does CGIAR mean? When was it founded?

In his own words, Daniel Jones was “The Dude.” With his waist-long dreadlocks, part-time rock band, and well-paid job managing a company’s online search directory—he seemed to have it all. Originally from Germany, Jones, now age 32, earned his doctorate and taught at the University of Munich before coming to the United States, where he started his career in computers. When Jones started working with the company as a director of operations for U.S.-Speech Engineering Service and Retrieval Technology—he was assigned to work on a new, closely guarded search engine tied to the company’s .net concept.

The company allows employees to order an unlimited amount of software and hardware, at no cost, for business purposes. In one year’s time, Jones ordered or used his assistant and other employees (including a high school intern) to order nearly 1,700 pieces of software which had very low cost but were worth a lot on the street. He then resold them for reduced prices— reaping millions. When items with a cost of goods sold of more than $1,000 are ordered, an e-mail is sent to the employee’s direct supervisor, who must click on an “Approve” button before the order is filled. In no individual order was the cost of goods more than $1,000—he made sure none of the orders required a supervisor’s approval. The loosely controlled internal ordering system reflects the trust the company puts in its employees.

During this time frame, FBI agents said they saw Jones exchanging a large box of software for cash in a department store parking lot. The FBI contacted the company’s security and began monitoring Jones’s bank accounts. Previously, one account with his bank had an average balance of $2,159. In a short time, however, the average balance ballooned to $129,775. Another account at another bank showed irregular deposits totaling $500,000—none of which appeared to be from any legitimate income or other source.

Investigators also noted that Jones purchased a Ferrari, a Jaguar, and traded in lesser vehicles for a Hummer, a Mercedes, and a Harley-Davidson motorcycle. He also bought an $8,000 platinum diamond ring, a $2,230 wristwatch, and a $4,000 bracelet. “You figured that I like big boy’s toys by looking at some of my pictures,” Jones wrote on his personal Web page. “I just can’t resist.” The Dude’s Web page includes a camera for monitoring his cat and photos of his yacht, cars, and other treasures. For a relatively low-level manager, it was an impressive collection. But at his company, where teenage software engineers can earn more than company directors, no one noticed anything unusual.

A neighbor across the street from Jones said that he was clearly wealthy, but not flamboyant with his money. He described Jones as an intelligent man who didn’t flaunt his education, would loan neighbors tools, and was always friendly. The neighbor was surprised to hear the accusations against someone he called his friend. All he knew about Jones was that he was a good neighbor who loved cars. “He was very, very helpful. The few times I had problems with my PC, he’d come and help straighten them out,” the neighbor said. “They are just ideal neighbors. I feel terrible for him and his wife.” Jones and his wife lived in a modest home.

Jones also joined the city’s Rotary Club, “where he seemed more outgoing and personable than the stereotype techie,” said a local jeweler and immediate past president of the club. “He seemed like what I would expect a genius software developer to be.” Eventually, the fraud was discovered and Jones was fired. He was also charged with 15 counts of wire, mail, and computer fraud—with each count carrying a maximum of fives years in prison. He is expected to remain in custody until his preliminary hearing.

Questions:

1. Describe the symptoms of fraud that might be evident to a fellow employee.

2. Recently, his employer has been putting more empha- sis on controlling costs. With the slowing of overall technology spending, executives have ordered managers to closely monitor expenses and have given vice presidents greater responsibility for balance sheets. What positive or negative consequences might this pose to the company in future fraud prevention?

3. As discussed previously, all frauds involve the following key elements: perceived pressure, perceived opportunity, and rationalization. Describe two of the key elements of the Jones fraud— pressure and opportunity.

4. From the scenario, what measures has the company taken to prevent fraud? In what ways could the company improve?

In his own words, Daniel Jones was “The Dude.” With his waist-long dreadlocks, part-time rock band, and well-paid job managing a company’s online search directory—he seemed to have it all. Originally from Germany, Jones, now age 32, earned his doctorate and taught at the University of Munich before coming to the United States, where he started his career in computers. When Jones started working with the company as a director of operations for U.S.-Speech Engineering Service and Retrieval Technology—he was assigned to work on a new, closely guarded search engine tied to the company’s .net concept.

The company allows employees to order an unlimited amount of software and hardware, at no cost, for business purposes. In one year’s time, Jones ordered or used his assistant and other employees (including a high school intern) to order nearly 1,700 pieces of software which had very low cost but were worth a lot on the street. He then resold them for reduced prices— reaping millions. When items with a cost of goods sold of more than $1,000 are ordered, an e-mail is sent to the employee’s direct supervisor, who must click on an “Approve” button before the order is filled. In no individual order was the cost of goods more than $1,000—he made sure none of the orders required a supervisor’s approval. The loosely controlled internal ordering system reflects the trust the company puts in its employees.

During this time frame, FBI agents said they saw Jones exchanging a large box of software for cash in a department store parking lot. The FBI contacted the company’s security and began monitoring Jones’s bank accounts. Previously, one account with his bank had an average balance of $2,159. In a short time, however, the average balance ballooned to $129,775. Another account at another bank showed irregular deposits totaling $500,000—none of which appeared to be from any legitimate income or other source.

Investigators also noted that Jones purchased a Ferrari, a Jaguar, and traded in lesser vehicles for a Hummer, a Mercedes, and a Harley-Davidson motorcycle. He also bought an $8,000 platinum diamond ring, a $2,230 wristwatch, and a $4,000 bracelet. “You figured that I like big boy’s toys by looking at some of my pictures,” Jones wrote on his personal Web page. “I just can’t resist.” The Dude’s Web page includes a camera for monitoring his cat and photos of his yacht, cars, and other treasures. For a relatively low-level manager, it was an impressive collection. But at his company, where teenage software engineers can earn more than company directors, no one noticed anything unusual.

A neighbor across the street from Jones said that he was clearly wealthy, but not flamboyant with his money. He described Jones as an intelligent man who didn’t flaunt his education, would loan neighbors tools, and was always friendly. The neighbor was surprised to hear the accusations against someone he called his friend. All he knew about Jones was that he was a good neighbor who loved cars. “He was very, very helpful. The few times I had problems with my PC, he’d come and help straighten them out,” the neighbor said. “They are just ideal neighbors. I feel terrible for him and his wife.” Jones and his wife lived in a modest home.

Jones also joined the city’s Rotary Club, “where he seemed more outgoing and personable than the stereotype techie,” said a local jeweler and immediate past president of the club. “He seemed like what I would expect a genius software developer to be.” Eventually, the fraud was discovered and Jones was fired. He was also charged with 15 counts of wire, mail, and computer fraud—with each count carrying a maximum of fives years in prison. He is expected to remain in custody until his preliminary hearing.

Questions:

1. Describe the symptoms of fraud that might be evident to a fellow employee.

2. Recently, his employer has been putting more empha- sis on controlling costs. With the slowing of overall technology spending, executives have ordered managers to closely monitor expenses and have given vice presidents greater responsibility for balance sheets. What positive or negative consequences might this pose to the company in future fraud prevention?

3. As discussed previously, all frauds involve the following key elements: perceived pressure, perceived opportunity, and rationalization. Describe two of the key elements of the Jones fraud— pressure and opportunity.

4. From the scenario, what measures has the company taken to prevent fraud? In what ways could the company improve?

Assume that on September 1 Office Depot had an inventory that included a variety of calculators. The company uses a perpetual inventory system. During September these transactions occurred.

Sept. 6 Purchased calculators from Green Box Co. at a total cost of $1,620, terms n/30.

9 Paid freight of $50 on calculators purchased from Green Box Co.

10 Returned calculators to Green Box Co. for $38 credit because they did not meet specifications.

12 Sold calculators costing $520 for $780 to University Book Store, terms n/30.

14 Granted credit of $45 to University Book Store for the return of one calculator that was not ordered. The calculator cost $28.

20 Sold calculators costing $570 for $900 to Campus Card Shop, terms n/30.

Journalize the Septemper transactions? be clear and write every number from where it comes

Exercise 11-13 Effects of Changes in Sales, Expenses, and Assets on ROI [LO11-1]

[The following information applies to the questions displayed below.]

CommercialServices.com Corporation provides business-to-business services on the Internet. Data concerning the most recent year appear below:

1. Compute the company's return on investment (ROI). (Do not round intermediate calculations. Round your answer to 2 decimal places.)

2. The entrepreneur who founded the company is convinced that sales will increase next year by 60% and that net operating income will increase by 100%, with no increase in average operating assets. What would be the company’s ROI? (Do not round intermediate calculations. Round your answer to 2 decimal places.)

3. The Chief Financial Officer of the company believes a more realistic scenario would be a $1,150,000 increase in sales, requiring a $230,000 increase in average operating assets, with a resulting $105,750 increase in net operating income. What would be the company’s ROI in this scenario? (Do not round intermediate calculations. Round your answer to 2 decimal places.)