The Palace Theater opened on April 1. All facilities were completed on March 31. At this time, the ledger showed No. 101 Cash $6,000, No. 140 Land $12,000, No. 145 Buildings (concession stand, projection room, ticket booth, and screen) $8,000, No. 157 Equipment $6,000, No. 201 Accounts Payable $2,000, No. 275 Mortgage Payable $10,000, and No. 311 Common Stock $20,000. During April, the following events and transactions occurred.

In addition to the accounts identified above, the chart of accounts shows No. 112 Accounts Receivable, No. 136 Prepaid Rent, No. 400 Service Revenue, No. 429 Rent Revenue, No. 610 Advertising Expense, No. 726 Salaries and Wages Expense, and No. 729 Rent Expense.

A. Enter the beginning balances in the ledger as of April 1

b.Journalize the April transactions. Palace records admission revenue as service revenue, rental of the concession stand as rent revenue, and film rental expense as rent expense.

c.Post the April journal entries to the ledger.

d.Prepare a trial balance on April 30, 2017.

Some of the costs vary with the number of productions, some with the number of performances, and some are fixed and depend on neither the number of productions nor the number of performances.On the other hand, the wages of the actors, directors, stagehands, ticket booth personnel, and ushers vary with the number of performances. The greater the number of performances, the higher the wage costs will be. Similarly, the costs of renting the hall and printing the programs will vary with the number of performances. Administrative expenses are more difficult to analyze, but the best estimate is that approximately 75% of the budgeted costs are fixed, 15% depend on the number of productions staged, and the remaining 10% depend on the number of performances. After the beginning of the year, the board of directors of the theater authorized expanding the theater’s program to seven productions and a total of 168 performances. Not surprisingly, actual costs were considerably higher than the costs from the planning budget.

Required:

1. Prepare a flexible budget performance report for the year that shows both spending variances and activity variances. (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Input all amounts as positive values.)

A survey found that​ women's heights are normally distributed with mean 63.3 in. and standard deviation of 3.7 in. The survey also found that​ men's heights are normally distributed with a mean 68.6 in. and standard deviation 3.3 in. Most of the live characters employed at an amusement park have height requirements of a minimum of 55 in. and a maximum of 62 in. Complete parts​ (a) and​ (b) below.

a. Find the percentage of men meeting the height requirement. What does the result suggest about the genders of the people who are employed as characters at the amusement​ park?

The percentage of men who meet the height requirement is = %.

​(Round to two decimal places as​ needed.)

NOTE: THIS IS FOR MY LEGAL ENVIRONMENT CLASS

11. In June, Daniels contracted with Lefkowitz to build a stone path leading from the road to his vacation home. Daniels asked him to complete the job within 11 (eleven) months. Explain whether Lefkowitz and Daniels must enter in a written agreement for such a contract to be enforceable.

12. The hotel workers union of Metropolis strikes in spite of a no-strike clause, causing several conventions to be canceled. Restaurant owners in Metropolis want to sue the hotel workers union for their loss of business caused by the canceled conventions. Will the restaurant owners win their suit?

At year-end (December 31), Chan Company estimates its bad debts as 0.5% of its annual credit sales of $975,000. Chan records its Bad Debts Expense for that estimate. On the following February 1, Chan decides that the $580 account of P. Park is uncollectible and writes it off as a bad debt. On June 5, Park unexpectedly pays the amount previously written off.

Prepare the journal entries for these transactions.

• Record the estimated bad debts expense.
• Wrote off P. Park's account as uncollectible.
• Reinstated Park's previously written off account.
• Record the cash received on account.

A 20 month old child recently fell seven stories from a balcony of the Pompano Beach, Florida Quality Inn. The child survived the fall. The plaintiff charged that the corroded railing gave way on the balcony. Experts have said that salty sea air can rapidly eat through the metal railings that line thousands of hotel balconies in South Florida beachfront hotels. Warnings had been placed in all of the guestrooms advising people to stay away from the railings and to supervise their children.

Basis of action of plaintiff against the hotel.

a. What are the specific legal basis for seeking damages?

The coach of a very popular men’s basketball team claims that the average distance the fans travel to the campus to watch a game is 35 miles. The team members feel otherwise. A sample of 16 fans who travel to games was randomly selected and yielded a mean of M= 36 miles and s= 5 miles. Test the coach’s claim at the 5% (.05) level of significance.

one-tailed or two-tailed test:

State the hypotheses:

df=

tα or t value for the critical region =

s_M =   

t (test statistic)=

Decision:

A tire manufacturer claims its tires will last for 80,000 miles on average when properly maintained. To investigate this claim, a retail tire store has surveyed 49 recent customers of that particular tire and determined those tires lasted for an average of 77,470 miles. The population standard deviation is known to be 7,700 miles. Compute the value of the appropriate test statistic to test this claim.

Enter your answer as a decimal rounded to two places. Indicate a negative value with a "–" sign directly before the value.

Test statistic =