MoTown Appliances sells built-in ranges for $ 1,400 each. The price includes a two-year warranty. During 2019, the company sells 1,650 ranges. On the basis of past experience, approximately 4% of units sold will require warranty replacement at an average cost of $ 450 per unit. The actual warranty costs paid by MoTown during 2019 for replacement was $ 25,000.

Instructions:

a) Prepare adjusting journal entries to record the estimated warranty expense and the warranty payments during 2019 at December 31, 2019.

b) Assuming the warranty liability account has an unadjusted credit balance of $ 900, what is the 2019 ending balance ( after adjustment )?

Suppose that call options on a stock with strike prices $120, $140 and $160 cost $13, $14 and $18, respectively. How can the options be used to create a Butterfly spread?

Call 1 – Strike $120: Position Long or short?__________

Call 2 – Strike $140: Position Long or short?__________

Call 3 – Strike $160: Position Long or short?__________

                  I.            Explain how you can built the spread and write a table that shows the profit and payoff for each option and total spread.

                II.            When is the Maximum profit? How much?

              III.            Draw a diagram for the spread showing the total value of the spread and both call options.

What are the benefits for a hospital to organize itself as a nonprofit? Do nonprofits make less money than for-profit hospitals? Do some quick research on the internet and see which major hospitals near you (or near a city you have lived in within the U.S.) are nonprofits. Can you find information on CEO compensation? Do they seem to make less than CEO's of for-profit hospitals? Does the hospital (or hospitals) you chose seem to be fulfilling its (or their) obligations to benefit the community? How do they do so?

A magnifying glass is a single convex lens with a focal length of f = +9.50 cm. (Assume the person using the magnifying glass has a near point of 25 cm and the magnifying glass is directly in front of the person's eyes.)

(a) What is the angular magnification when this lens forms a (virtual) image at ???


How far from the object should the lens be held?


(b) What is the angular magnification when this lens forms a (virtual) image at the person's near point?


How far from the object should the lens be held in this case?

Suppose that you decided to send a spacecraft to Neptune using a Hohmann transfer. The craft starts in a circular orbit close to the Earth (1 AU) and is to end up in a circular orbit near   Neptune (about 30 AU).   (a) How long would the transfer take?   (b) How could you shorten this time, without increasing the amount of fuel required?   (c) What change in velocity is needed to enter the transfer orbit?   (d)   What is the change in velocity needed to enter the circular orbit near Neptune?

29. The results of a research study indicate that children who spend more time on social media tend to have lower self-esteem. The correlation between these two variables (i.e.time spent on social media and self-esteem) is an example of ________________.

• A. correlation near zero.

• B. positive correlation

• C. negative correlation

31. The strongest possible, positive Person’s correlation between two variables is _______.

• A. r = 10.00

• B. r = 1.00

• C. r = 0.00

• D. r = -1.00

• E. r = -10.00

• F. Not enough information to answer the question

32.If a researcher measured a person’s shoe size and self-reported anxiety, what kind of correlation is most likely to be revealed between these two variables (i.e., what correlation would you expect to find between persons’ shoe size and anxiety)?

• A. A correlation near 1.00.

• B. A moderate negative correlation.

• C. A correlation near 0.00.

• D. A moderate positive correlation.

• E. A correlation near -1.00.

35. Suppose a researcher found that there is a significant correlation between intensity of physical exercise and alcohol drinking, r(100) = -0.40. Based on this finding, what percent (or proportion) of variability in alcohol drinking is accounted for by the intensity of physical exercise?

• A. 16% (or 0.16)

• B. 60% (or 0.60)

• C. 4% (or 0.04)

• D. -40% (or - 0.40)

• E. 40% (or 0.40)

• F. 84% (or 0.84)

Q1

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

At year-end December 31, Chan Company estimates its bad debts as 0.40% of its annual credit sales of $759,000. Chan records its Bad Debts Expense for that estimate. On the following February 1, Chan decides that the $380 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 Chan's journal entries to record the transactions of December 31, February 1, and June 5.

Q2

Liang Company began operations in Year 1. During its first two years, the company completed a number of transactions involving sales on credit, accounts receivable collections, and bad debts. These transactions are summarized as follows.

Year 1

1. Sold $1,351,400 of merchandise (that had cost $981,600) on credit, terms n/30.
2. Wrote off $20,400 of uncollectible accounts receivable.
3. Received $667,900 cash in payment of accounts receivable.
4. In adjusting the accounts on December 31, the company estimated that 1.10% of accounts receivable would be uncollectible.

Year 2

5. Sold $1,587,000 of merchandise (that had cost $1,251,700) on credit, terms n/30.
6. Wrote off $33,300 of uncollectible accounts receivable.
7. Received $1,374,300 cash in payment of accounts receivable.
8. In adjusting the accounts on December 31, the company estimated that 1.10% of accounts receivable would be uncollectible.

Required:
Prepare journal entries to record Liang’s Year 1 and Year 2 summarized transactions and its year-end adjustments to record bad debts expense. (The company uses the perpetual inventory system, and it applies the allowance method for its accounts receivable.) (Round your intermediate calculations to the nearest dollar.)

Prepare Chan's journal entries to record the transactions of December 31, February 1, and June 5.

Please and thank you! my last two problems in accounting!

20. A weakness of many struggling retailers this year may be due to the cost of operating too many branch stores with their high overhead - on top of the pandemic.

True or False

21. Warby Parker is a socially conscious accessories and apparel company that has built a global movement connecting customers to social change.

True or False

22. Demographics include population or consumer statistics regarding socioeconomic factors such as age, income, gender, occupation, education, family size, etc.

True or False

23. The three basic service levels in brick-n-mortar retailers are self-service, self selection and phone service.

True or  False

25. Product depth is the variety within each assortment category, with a  deep assortment having  many sizes or color offerings while a shallow assortment  has few size or color offerings.

True or false

26. A commissary store is a retailer that serves the environment in which it is housed, such as a hair/nail salon  or gift shop in a hotel lobby.

True or false

27. A big box retail location is a mixed-use property where one building can house retail/ restaurants/gyms/offices/ services on lower levels, and apartments/condos above on upper floors.

True or false

30. Shop! Retail Environments is an example of a trade periodical while  Inc. Magazine is an example of a consumer periodical.

True or false

31. A broad assortment contains  many styles of a product category , while a narrow assortment contains few styles.

True or false

32. A liquid asset is a reference to cash on hand or an asset that can be readily converted to cash; a non-liquid asset is not readily converted to cash – i.e., property, as there is no guarantee it will sell within a certain time period.

True or false

33. The three major levels of retail competition are Product Field, Subfield and Assets/Liabilities.

True or false

34. Referring to Ilse Metchek's guest presentation, The California Fashion Association (CFA) is the Business-to-Business (B2B) forum for California's Apparel and Textile Industries.

True or false

35. Consumers being shown the breakdown of the retail price of the products they buy - what the labor, materials, duties and transport as well as the store's profit - is known as retail vision.

True or false

1. Because of a job change, Ben Hardesty has just relocated to the southeastern United States. He sold his furniture before he moved, so he's now shopping for new furnishings. At a local furniture store, he's found an assortment of couches, chairs, tables, and beds that he thinks would look great in his new two-bedroom apartment; the total cost for everything is $3,000. Because of moving costs, Ben is a bit short of cash right now, so he's decided to take out an installment loan for $3,000 to pay for the furniture. The furniture store offers to lend him the money for 36 months at an add-on interest rate of 7 percent. The credit union at Ben's firm also offers to lend him the money - they'll give him the loan at an interest rate of 11.5 percent simple, but only for a term of 24 months.

1. Compute the monthly payments for the loan from the furniture store. Round the answer to the nearest cent.   (1)

2. Compute the monthly payments for the loan from the credit union. Round the answer to the nearest cent.  (1)

3. Determine the APR for the loan from the furniture store. Do not round intermediate calculations. Round the answer to 2 decimal places.   (1)

d. Determine the APR for the loan from the credit union. Do not round intermediate calculations. Round the answer to 2 decimal places. (1)