At the end of the day, the cash register tape lists $881.40 as total income from services. Cash on hand consists of $18.25 in coins, $433.60 in currency, $100.00 in traveler's checks, and $427.00 in customers' checks. The amount of the Change Fund is $100.

Required:

Record the entry to record the day's cash revenue. If an amount box does not require an entry, leave it blank.

The management of a supermarket wanted to investigate if the male customers spend less money, on average, than the female customers. A sample of 25 male customers who shopped at this supermarket showed that they spent an average of $75 with a standard deviation of $17.50. Another sample of 20 female customers who shopped at the same supermarket showed that they spent an average of $89 with a standard deviation of $14.40. Assume that the amounts spent at this supermarket by all male and all female customers are normally distributed with equal but unknown population standard deviations.

a. Construct a 99% confidence interval for the difference between the mean amounts spent by all male and all female customers at this supermarket.

b. Using the 5% significance level, can you conclude that the mean amount spent by all male customers at this supermarket is less than all female customers?

What are three financial rations that constitute return on revenue, and what do they tell us?

Koshy Company is planning a cash budget for the next three months. Estimated sales revenue is:

Month Sales Revenue Month Sales Revenue

All sales are on credit; 60 percent is collected during the month of sale, and 40 percent is collected during the next month. Cost of goods sold is 80 percent of sales. Payments for merchandise sold are made in the month following the month of sale. Operating expenses total $26,000 per month and are paid during the month incurred. The cash balance on February 1 is estimated to be $35,000.

Prepare monthly cash budgets for February, March, and April.

Q1/ a. For the following three cases, calculate

i. The marginal revenue curve

ii. The level of output where MR = MC (i.e., set the equation from item i equal to marginal cost and solve for Q)

iii. The profit-maximizing price (i.e., plug your answer from equation ii into the demand curve)

iv. Total revenue and total cost at this level of output (something you learned in Chapter 11)

v. What entrepreneurs really care about—total profit

Case A: Demand: P = 40 − Q Fixed cost = 100 Marginal cost = 10

Case B: Demand: P = 100 − 2Q Fixed cost = 100 Marginal cost = 10

Case C: Demand: P = 100 − 2Q Fixed cost = 100 Marginal cost = 20.

b. What is the markup in each case? Measure it two ways: first in dollars, as price minus marginal cost, and then as a percentage markup [100 × (P – MC)/MC, reported as a percent].

c. If you solved part b correctly, you found that when costs rose from Case B to Case C, the monopolist’s optimal price increased. Why didn’t the monopolist charge that same higher price when costs were lower? After all, they are a monopolist, so they can charge what price they want. Explain in language that your grandmother could understand.

Please list three tests of internal controls for each of the following: Revenue and cash receipts. Why do you think these controls are important?

3) What is the Revenue Recognition Principle? Describe three cases that exemplify this principle.

4) Is unearned revenue classified as an asset, liability or a revenue? Provide a reason for your choice.

5) Write the expanded accounting equation that you would use to study for the information in this chapter.

6) What are T-accounts and why are they used?

7) What is the purpose of an unadjusted trial balance?

8) What is the definition of net profit margin? Provide the formula for this calculation.

What are three significant changes to the current Internal Revenue Code from the Tax Cuts and Jobs Act of 2017? please explain these changes in your own words. Please state how these changes will affect taxable income and whether or not you think these changes are an improvement to the tax code.

Identify at least three ideas for reducing the revenue cycle in the healthcare industry. Would any of your ideas have the potential to reduce cost? If so, explain how and why.