Church Company completes these transactions and events during March of the current year (terms for all its credit sales are 2/10, n/30).

Assume the following ledger account amounts Inventory (March 1 beg. bal. is $65,000), Z. Church, Capital (March 1 beg. bal. is $65,000) and Church Company uses the perpetual inventory system.

Prepare the March 31 trial balance.

Prepare the March 31 schedule of accounts receivable.

Prepare the March 31 schedule of accounts payable.

Does the average Presbyterian donate more than the average Catholic in church on Sundays? The 44 randomly observed members of the Presbyterian church donated an average of $22 with a standard deviation of $12. The 58 randomly observed members of the Catholic church donated an average of $17 with a standard deviation of $10. What can be concluded at the αα = 0.10 level of significance?

1. For this study, we should use Select an answert-test for the difference between two independent population meansz-test for a population proportiont-test for the difference between two dependent population meansz-test for the difference between two population proportionst-test for a population mean
2. The null and alternative hypotheses would be:   
3.   

H0:H0:  Select an answerp1μ1 ?=<≠> Select an answerμ2p2 (please enter a decimal)   

H1:H1:  Select an answerp1μ1 ?=><≠ Select an answerμ2p2 (Please enter a decimal)

3. The test statistic ?tz = (please show your answer to 3 decimal places.)
4. The p-value = (Please show your answer to 4 decimal places.)
5. The p-value is ?≤> αα
6. Based on this, we should Select an answerfail to rejectrejectaccept the null hypothesis.
7. Thus, the final conclusion is that ...
   • The results are statistically insignificant at αα = 0.10, so there is statistically significant evidence to conclude that the population mean amount of money that Presbyterians donate is equal to the population mean amount of money that Catholics donate.
   • The results are statistically significant at αα = 0.10, so there is sufficient evidence to conclude that the mean donation for the 44 Presbyterians that were observed is more than the mean donation for the 58 Catholics that were observed.
   • The results are statistically significant at αα = 0.10, so there is sufficient evidence to conclude that the population mean amount of money that Presbyterians donate is more than the population mean amount of money that Catholics donate.
   • The results are statistically insignificant at αα = 0.10, so there is insufficient evidence to conclude that the population mean amount of money that Presbyterians donate is more than the population mean amount of money that Catholics donate.

The following information applies to the questions displayed below.] Church Company completes these transactions and events during March of the current year (terms for all its credit sales are 1/10, n/30). Mar. 1 Purchased $39,000 of merchandise from Van Industries, terms 1/15, n/30. 2 Sold merchandise on credit to Min Cho, Invoice No. 854, for $15,600 (cost is $7,800). 3 (a) Purchased $1,170 of office supplies on credit from Gabel Company, terms n/30. 3 (b) Sold merchandise on credit to Linda Witt, Invoice No. 855, for $7,800 (cost is $3,900). 6 Borrowed $72,000 cash from Federal Bank by signing a long-term note payable. 9 Purchased $19,500 of office equipment on credit from Spell Supply, terms n/30. 10 Sold merchandise on credit to Jovita Albany, Invoice No. 856, for $3,900 (cost is $1,950). 12 Received payment from Min Cho for the March 2 sale less the discount of $156. 13 (a) Sent Van Industries Check No. 416 in payment of the March 1 invoice less the discount of $390. 13 (b) Received payment from Linda Witt for the March 3 sale less the discount of $78. 14 Purchased $26,000 of merchandise from the CD Company, terms 1/10, n/30. 15 (a) Issued Check No. 417 for $16,100, payee is Payroll, in payment of sales salaries expense for the first half of the month. 15 (b) Cash sales for the first half of the month are $62,400 (cost is $49,920). These cash sales are recorded in the cash receipts journal on March 15. 16 Purchased $1,690 of store supplies on credit from Gabel Company, terms n/30. 17 Returned $2,600 of unsatisfactory merchandise purchased on March 14 to CD Company. Church reduces accounts payable by that amount. 19 Returned $585 of office equipment purchased on March 9 to Spell Supply. Church reduces accounts payable by that amount. 20 Received payment from Jovita Albany for the sale of March 10 less the discount of $39. 23 Issued Check No. 418 to CD Company in payment of the March 14 purchase less the March 17 return and the $234 discount. 27 Sold merchandise on credit to Jovita Albany, Invoice No. 857, for $11,700 (cost is $4,680). 28 Sold merchandise on credit to Linda Witt, Invoice No. 858, for $4,680 (cost is $1,872). 31 (a) Issued Check No. 419 for $16,100, payee is Payroll, in payment of sales salaries expense for the last half of the month. 31 (b) Cash sales for the last half of the month are $68,640 (cost is $41,184). These cash sales are recorded in the cash receipts journal on March 31. 31 (c) Verify that amounts impacting customer and creditor accounts were posted and that any amounts that should have been posted as individual amounts to the general ledger accounts were posted. Foot and crossfoot the journals and make the month-end postings. Assume the following ledger account amounts Inventory (March 1 beg. bal. is $65,000), Z. Church, Capital (March 1 beg. bal. is $65,000) and Church Company uses the perpetual inventory system.

Required:
2-a. Enter the transactions in a sales journal.
2-b. Enter the transactions in a purchases journal.
2-c. Enter the transactions in a cash receipts journal.
2-d. Enter the transactions in a cash payments journal.
2-e. Enter the transactions in a general journal.

Complete this question by entering your answers in the tabs below.

• Req 2A
• Req 2B
• Req 2C
• Req 2D
• Req 2E

Enter the transactions in a sales journal.

• Req 2B:

Church Company completes these transactions and events during March of the current year (terms for all its credit sales are 2/10, n/30).

Assume the following ledger account amounts Inventory (March 1 beg. bal. is $63,000), Z. Church, Capital (March 1 beg. bal. is $63,000) and Church Company uses the perpetual inventory system.

Required:
2-a. Enter the transactions in a sales journal.
2-b. Enter the transactions in a purchases journal.
2-c. Enter the transactions in a cash receipts journal.
2-d. Enter the transactions in a cash disbursements journal.
2-e. Enter the transactions in a general journal.

Church Company completes these transactions and events during March of the current year (terms for all its credit sales are 2/10, n/30).

Assume the following ledger account amounts Inventory (March 1 beg. bal. is $63,000), Z. Church, Capital (March 1 beg. bal. is $63,000) and Church Company uses the perpetual inventory system.

Prepare the March 31 trial balance, schedule of accounts receivable and schedule of accounts payable. Post information from the journals in Part 2 to the general ledger and the accounts receivable and accounts payable subsidiary ledgers.

Prepare the March 31 trial balance.

• Trial Balance

Church Company completes these transactions and events during March of the current year (terms for all its credit sales are 2/10, n/30). Mar. 1 Purchased $43,600 of merchandise from Van Industries, invoice dated March 1, terms 2/15, n/30. Mar. 2 Sold merchandise on credit to Min Cho, Invoice No. 854, for $16,800 (cost is $8,400). Mar. 3 Purchased $1,230 of office supplies on credit from Gabel Company, invoice dated March 3, terms n/10 EOM. Mar. 3 Sold merchandise on credit to Linda Witt, Invoice No. 855, for $10,200 (cost is $5,800). Mar. 6 Borrowed $82,000 cash from Federal Bank by signing a long-term note payable. Mar. 9 Purchased $21,850 of office equipment on credit from Spell Supply, invoice dated March 9, terms n/10 EOM. Mar. 10 Sold merchandise on credit to Jovita Albany, Invoice No. 856, for $5,600 (cost is $2,900). Mar. 12 Received payment from Min Cho for the March 2 sale less the discount. Mar. 13 Sent Van Industries Check No. 416 in payment of the March 1 invoice less the discount. Mar. 13 Received payment from Linda Witt for the March 3 sale less the discount. Mar. 14 Purchased $32,625 of merchandise from the CD Company, invoice dated March 13, terms 2/10, n/30. Mar. 15 Issued Check No. 417, payable to Payroll, in payment of sales salaries expense for the first half of the month, $18,300. Cashed the check and paid the employees. Mar. 15 Cash sales for the first half of the month are $34,680 (cost is $20,210). (Cash sales are recorded daily, but are recorded only twice here to reduce repetitive entries.) Mar. 16 Purchased $1,770 of store supplies on credit from Gabel Company, invoice dated March 16, terms n/10 EOM. Mar. 17 Received a $2,425 credit memorandum from CD Company for the return of unsatisfactory merchandise purchased on March 14. Mar. 19 Received a $630 credit memorandum from Spell Supply for office equipment received on March 9 and returned for credit. Mar. 20 Received payment from Jovita Albany for the sale of March 10 less the discount. Mar. 23 Issued Check No. 418 to CD Company in payment of the invoice of March 13 less the March 17 return and the discount. Mar. 27 Sold merchandise on credit to Jovita Albany, Invoice No. 857, for $14,910 (cost is $7,220). Mar. 28 Sold merchandise on credit to Linda Witt, Invoice No. 858, for $4,315 (cost is $3,280). Mar. 31 Issued Check No. 419, payable to Payroll, in payment of sales salaries expense for the last half of the month, $18,300. Cashed the check and paid the employees. Mar. 31 Cash sales for the last half of the month are $30,180 (cost is $16,820). - GENERAL JOURNAL

Theories of Intelligence

Intelligence tests and psychological definitions of intelligence have been heavily criticized since the 1970s for being biased in favor of Anglo-American, middle-class respondents and for being inadequate tools for measuring non-academic types of intelligence or talent. Intelligence changes with experience and intelligence quotients or scores do not reflect that ability to change. What is considered smart varies culturally as well and most intelligence tests do not take this variation into account. For example, in the west, being smart is associated with being quick. A person who answers a question the fastest is seen as the smartest. But in some cultures, being smart is associated with considering an idea thoroughly before giving an answer. A well-thought out, contemplative answer is the best answer.

Multiple Intelligences

Gardner (1983, 1998, 1999) suggests that there are not one, but nine domains of intelligence. The first three are skills that are measured by IQ tests:

Logical-mathematical: the ability to solve mathematical problems; problems of logic, numerical patterns

Linguistic: vocabulary, reading comprehension, function of language

Spatial: visual accuracy, ability to read maps, understand space and distance

The next six represent skills that are not measured in standard IQ tests but are talents or abilities that can also be important for success in a variety of fields: These are:

Musical: ability to understand patterns in music, hear pitches, recognize rhythms and melodies

Bodily-kinesthetic: motor coordination, grace of movement, agility, strength

Naturalistic: knowledge of plants, animals, minerals, climate, weather

Interpersonal: understand the emotion, mood, motivation of others; able to communicate effectively

Intrapersonal: understanding of the self, mood, motivation, temperament, realistic knowledge of strengths, weaknesses

Existential: concern about and understanding of life’s larger questions, meaning of life, or spiritual matters

Gardner contends that these are also forms of intelligence. A high IQ does not always ensure success in life or necessarily indicate that a person has common sense, good interpersonal skills or other abilities important for success.

Triarchic Theory of Intelligence

Another alternative view of intelligence is presented by Sternberg (1997; 1999). Sternberg offers three types of intelligences. Sternberg provided background information about his view of intelligence in a conference I attended several years ago. He described his frustration as a committee member charged with selecting graduate students for a program in psychology. He was concerned that there was too much emphasis placed on aptitude test scores and believed that there were other, less easily measured, qualities necessary for success in a graduate program and in the world of work. Aptitude test scores indicate the first type of intelligence-academic.

Academic (componential): includes the ability to solve problems of logic, verbal comprehension, vocabulary, and spatial abilities.

Sternberg noted that students who have high academic abilities may still not have what is required to be a successful graduate student or a competent professional. To do well as a graduate student, he noted, the person needs to be creative. The second type of intelligence emphasizes this quality.

Creative (experiential): the ability to apply newly found skills to novel situations.

A potential graduate student might be strong academically and have creative ideas, but still, be lacking in the social skills required to work effectively with others or to practice good judgment in a variety of situations. This common sense is the third type of intelligence.

Practical (contextual): the ability to use common sense and to know what is called for in a situation.

This type of intelligence helps a person know when problems need to be solved. Practical intelligence can help a person know how to act and what to wear for job interviews, when to get out of problematic relationships, how to get along with others at work, and when to make changes to reduce stress.

Compare Gardner’s Theory of Multiple Intelligences and Sternberg’s triarchic theory of intelligence. You must have at least 3 points of comparison.

Do you think that these types of intelligences are cultivated in school or at home?

Suppose the Mexican peso British pound exchange rate is currently at 22, and short run interest rates in the UK is 2%. Explain (and compute) what will happen to the spot peso-pound exchange rate if the future pound-peso rate remains 0.04 and the Mexican interest rates is cut by 5%.

1) Define each of the insurance terms on page 211.

2) Which are the 4 four parts of Medicare? Explain each with 2-3 sentences.

3) What is Medicaid? Who is eligible?

4) State the three characteristics to each of the following health care systems: US, UK, and Canada.

The macro environmental forces can affect businesses in different ways.

(a)     Briefly describe each of the macro environmental forces.

(b)     Critically discuss, which you think are the most important     macro forces for UK retailers to monitor. Illustrate your         answer with relevant examples.

                                                (Total: 50 marks)