Comprehensive Accounting Cycle Review 5-02 (Part Level Submission)
On November 1, 2022, Kingbird had the following account
balances. The company uses the perpetual inventory
method.
| Debit | Credit | |||||
|---|---|---|---|---|---|---|
| Cash | $25,200 | Accumulated Depreciation—Equipment | $2,800 | |||
| Accounts Receivable | 6,272 | Accounts Payable | 9,520 | |||
| Supplies | 2,408 | Unearned Service Revenue | 11,200 | |||
| Equipment | 70,000 | Salaries and Wages Payable | 4,760 | |||
| $103,880 | Common Stock | 56,000 | ||||
| Retained Earnings | 19,600 | |||||
| $103,880 |
During November, the following summary transactions were
completed.
| Nov. | 8 | Paid $9,940 for salaries due employees, of which $5,180 is for November and $4,760 is for October. | |
|---|---|---|---|
| 10 | Received $5,320 cash from customers in payment of account. | ||
| 11 | Purchased merchandise on account from Dimas Discount Supply for $22,400, terms 2/10, n/30. | ||
| 12 | Sold merchandise on account for $15,400, terms 2/10, n/30. The cost of the merchandise sold was $11,200. | ||
| 15 | Received credit from Dimas Discount Supply for merchandise returned $840. | ||
| 19 | Received collections in full, less discounts, from customers billed on sales of $15,400 on November 12. | ||
| 20 | Paid Dimas Discount Supply in full, less discount. | ||
| 22 | Received $6,440 cash for services performed in November. | ||
| 25 | Purchased equipment on account $14,000. | ||
| 27 | Purchased supplies on account $4,760. | ||
| 28 | Paid creditors $8,400 of accounts payable due. | ||
| 29 | Paid November rent $1,050. | ||
| 29 | Paid salaries $3,640. | ||
| 29 | Performed services on account and billed customers $1,960 for those services. | ||
| 29 | Received $1,890 from customers for services to be performed in the future. |
(b)
Journalize the November transactions. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Round answers to 0 decimal places, e.g. 5,275. Record journal entries in the order presented in the problem.)
|
Date |
Account Titles and Explanation |
Debit |
Credit |
|---|
In: Accounting
In: Biology
**New code needed! Please do not reference code that has already been answered for this question as that code contains errors***
Write a C++ program to simulate a service desk. This service desk should be able to service customers that can have one of three different priorities (high, medium, and low). The duration for any customer is a random number (between 5 minutes and 8 minutes). You need to write a program that will do the following:
You should submit your C++ source code along with screen shots of sample runs that showed successful runs for the above steps.
In: Computer Science
The values listed below are waiting times? (in minutes) of customers at two different banks. At Bank? A, customers enter a single waiting line that feeds three teller windows. At Bank? B, customers may enter any one of three different lines that have formed at three teller windows. Answer the following questions. Bank A 6.36.3 6.66.6 6.76.7 6.86.8 7.17.1 7.37.3 7.47.4 7.87.8 7.87.8 7.87.8 Bank Upper BBank B 4.24.2 5.45.4 5.85.8 6.26.2 6.76.7 7.77.7 7.77.7 8.68.6 9.39.3 10.010.0 Construct aa 90% confidence interval for the population standard deviation sigma? at Bank A. Construct aa 90?% confidence interval for the population standard deviation sigma? at Bank B.
In: Statistics and Probability
The average expenditure on Valentine's Day was expected to be $100.89 (USA Today, February 13, 2006). Do male and female consumers differ in the amounts they spend? The average expenditure in a sample survey of 58 male consumers was $139, and the average expenditure in a sample survey of 33 female consumers was $61.31. Based on past surveys, the standard deviation for male consumers is assumed to be $33, and the standard deviation for female consumers is assumed to be $20. The z value is 2.576 . Round your answers to 2 decimal places. a. What is the point estimate of the difference between the population mean expenditure for males and the population mean expenditure for females? b. At 99% confidence, what is the margin of error? c. Develop a 99% confidence interval for the difference between the two population means. to
In: Statistics and Probability
The average expenditure on Valentine's Day was expected to be $100.89 (USA Today, February 13, 2006). Do male and female consumers differ in the amounts they spend? The average expenditure in a sample survey of 46 male consumers was$134.51 , and the average expenditure in a sample survey of 31 female consumers was $63.18. Based on past surveys, the standard deviation for male consumers is assumed to be$32 , and the standard deviation for female consumers is assumed to be $18 . The z value is 2.576 . Round your answers to decimal places.
a. What is the point estimate of the difference between the population mean expenditure for males and the population mean expenditure for females?
b. At 99% confidence, what is the margin of error?
c. Develop a 99% confidence interval for the difference between the two population means.
In: Statistics and Probability
Problem#: Consider the data shown. Assume that the specifications on this component are 74.05 and 73.95 mm. (a)Estimate process capability for the piston-ring process, for both Cp &Cpk and Estimate the percentage of piston rings produced that will be outside of the specifications?
| Sample Number | Observation 1 | Observation 2 | Observation 3 | Observation 4 | Observation 5 |
| 1 | 74.03 | 74.002 | 74.019 | 73.992 | 74.008 |
| 2 | 73.995 | 73.992 | 74.001 | 74.011 | 74.004 |
| 3 | 73.988 | 74.024 | 74.021 | 74.005 | 74.002 |
| 4 | 74.002 | 73.996 | 73.993 | 74.015 | 74.009 |
| 5 | 73.992 | 74.007 | 74.015 | 73.989 | 74.014 |
| 6 | 74.009 | 73.994 | 73.997 | 73.985 | 73.993 |
| 7 | 73.995 | 74.006 | 73.994 | 74 | 74.005 |
| 8 | 73.985 | 74.003 | 73.993 | 74.015 | 73.988 |
| 9 | 74.008 | 73.995 | 74.009 | 74.005 | 74.004 |
| 10 | 73.998 | 74 | 73.99 | 74.007 | 73.995 |
| 11 | 73.994 | 73.998 | 73.994 | 73.995 | 73.99 |
| 12 | 74.004 | 74 | 74.007 | 74 | 73.996 |
| 13 | 73.983 | 74.002 | 73.998 | 73.997 | 74.012 |
| 14 | 74.006 | 73.967 | 73.994 | 74 | 73.984 |
| 15 | 74.012 | 74.014 | 73.998 | 73.999 | 74.007 |
| 16 | 74 | 73.984 | 74.005 | 73.998 | 73.996 |
| 17 | 73.994 | 74.012 | 73.986 | 74.005 | 74.007 |
| 18 | 74.006 | 74.01 | 74.018 | 74.003 | 74 |
| 19 | 73.984 | 74.002 | 74.003 | 74.005 | 73.997 |
| 20 | 74 | 74.01 | 74.013 | 74.02 | 74.003 |
| 21 | 73.982 | 74.001 | 74.015 | 74.005 | 73.996 |
| 22 | 74.004 | 73.999 | 73.99 | 74.006 | 74.009 |
| 23 | 74.01 | 73.989 | 73.99 | 74.009 | 74.014 |
| 24 | 74.015 | 74.008 | 73.993 | 74 | 74.01 |
| 25 | 73.982 | 73.984 | 73.995 | 74.017 | 74.013 |
In: Statistics and Probability
An insurance company has three types of annuity products: indexed annuity, fixed annuity, and variable annuity. You are given:
Determine the proportion of the customers who only have the indexed annuity.
0.35
0.37
0.39
0.41
0.43
In: Math
1. In May 2004, a Gallup Poll of adults’ attitudes toward Health Maintenance Organizations (HMOs) found that 40% of adults had little or no confidence in HMOs, 39% had some confidence, 18% had a great deal of confidence, and 3% had no opinion (USA Today, June 22, 2004). The letters L, S, G, and N will be used to denote these percentages. A recent random sample of 500 adults gave the following distribution of responses.
L S G N
212 198 82 8 Total 500
Perform a Chi Square test using the .01 significance to test the hypothesis (Ho): The current distribution of adults’ attitudes toward HMOs is the same as that of 2004.
a. Find the Critical value (table Value) for Chi square
b. Calculate the Chi Square test statistic for the sample
c. Do you reject or not reject the Ho (Explain what your answer means)
In: Statistics and Probability
Case 1
The Johnsons Consider Retirement Planning
Harry Johnson’s father, William, was recently forced into early retirement at age 63 because of poor health. In addition to the psychological drawbacks of the unan- ticipated retirement, William’s financial situation is poor because he had not planned adequately for retirement. His situation has inspired Harry and Belinda to take a look at their own retirement planning. Together they now make about $100,000 per year and would like to have a similar level of living when they retire. Harry and Belinda are both 27 years old and recently received their annual Social Security Benefits Statements indicating that they could expect about $28,000 per year in today’s dollars as retirement benefits at age 67. Although their retirement is a long way off, they know that the sooner they put a plan in place, the larger their retirement nest egg will be.
(a) Belinda believes that the couple could maintain their current level of living if their retirement income represented 75 percent of their current annual income after adjusting for inflation. Assuming a 4 percent inflation rate, what would Harry and Belinda’s annual income need to be over and above their Social Security benefits when they retire at age 67?
(b) Both Harry and Belinda are covered by defined- contribution retirement plans at work. Harry’s employer will contribute $1170 per year, and Belinda’s employer will contribute $1140 per year in addition to the $4620 total that Harry and Belinda can contribute. Assuming a 7 percent rate of return, what would their retirement nest egg total 40 years from now?
(c) For how many years would the retirement nest egg provide the amount of income indicated in Question (a)? Assume a 4 percent return after taxes and inflation.
In: Finance