1. During the month, ABC Company delivered ½ of the work to earn ½ of the initial $2,000 recorded previously as unearned revenue. The adjusting entry to show some work had been completed and some revenue had been now earned would be:

2. During the month, ABC Company purchased merchandise inventory with a 10%, 90-day note payable, for $1,000. The company uses the perpetual inventory system. The entry to record the note and purchase of the inventory is:

3. Based on the information in letter d above, assume ABC Company pays the note when due 90 days later. The journal entry is (take interest expense to the nearest dollar):

50. How do companies account for and record payroll?

1. List some of the common withholdings deducted from the employee’s pay:

3. 
   
   iv)        
   

2. Journalize the employer payroll taxes assuming that the FICA-OASDI Taxes is $400, FICA- Medicare Taxes is $100, Federal Unemployment Taxes is $10, and State Unemployment Taxes is $25.

50. How are current liabilities that must be estimated accounted for?

1. To journalize the estimated cost of vacation benefits, the company will debit _____________ and credit __________________.
2. To journalize the amount of estimated cost of future warranty repairs, the company will debit _____________________ and credit ________________________.
   
   
   

50. How are contingent liabilities accounting for?

1. In your own word, what is a contingent liability?   
   
2. What is a Remote Contingent Liability and is it recorded?
   
   
3. What is a Reasonably Possible Contingent Liability and is it recorded?
   
   
4. What is a Probable Contingent Liability?
   
   
   

50. How do we use the times-interest-earned ratio to evaluate business performance?

1. What is the formula for times-interest-earned?

2. If net income is $1,000, income tax expense is $100, and interest expense is $300, what is times-interest-earned (take to two decimal places)?
   

One of the products produced by Branco Food Company is All-Bran Cereal, which competes with three other brands of similar all-bran cereals. The company's research office wants to investigate if the percentage of people who consume all-bran cereal is the same for each of these four brands. Let us denote the four brands of cereal by A,B,C, and D. A sample of 900 persons who consume all-bran cereal was taken, and they were asked which brand they most often consume. Of the respondents, 226said they usually consume Brand A, 232 consume Brand B, 233 consume Brand C, and 209 consume Brand D. Does the sample provide enough evidence to reject the null hypothesis that the percentage of people who consume all-bran cereal is the same for all four brands? Use α=0.05.

Wildhorse Company began operations on January 2, 2016. It employs 12 individuals who work 8-hour days and are paid hourly. Each employee earns 11 paid vacation days and 7 paid sick days annually. Vacation days may be taken after January 15 of the year following the year in which they are earned. Sick days may be taken as soon as they are earned; unused sick days accumulate. Additional information is as follows. Actual Hourly Wage Rate Vacation Days Used by Each Employee Sick Days Used by Each Employee 2016 2017 2016 2017 2016 2017 $7 $8 0 10 5 6 Wildhorse Company has chosen to accrue the cost of compensated absences at rates of pay in effect during the period when earned and to accrue sick pay when earned.Prepare journal entries to record transactions related to compensated absences during 2016 and 2017. (If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually.) 1-Prepare journal entries to record transactions related to compensated absences during 2016 and 2017. (If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually.) 2-Compute the amounts of any liability for compensated absences that should be reported on the balance sheet at December 31, 2016 and 2017.

Q4. What is the role of marketing in an organization?

(Please the Expert needs to submit a detailed answer which must be a standout in a very competitive MBA Marketing Class).

Determining which individuals are qualified individuals for the purpose of tax credit is an important task performed by the tax preparer. Discuss what are the determining factors for any individual to qualify for one or any of the following tax credits:

-The child and dependent care credit

-The credit for the elderly or the disabled

-The two education credits and how they are calculated, knowing which of the credits to use

-The adoption credit and the differences in domestic and foreign adoptions -

-Child Tax

-Credit Earned Income Credit (EIC)

-Foreign Tax Credit

Female athletes at the University of Colorado, Boulder, have a long-term graduation rate of 67% (Source: Chronicle of Higher Education). Over the past several years, a random sample of 38 female athletes at the school showed that 21 eventually graduated. Does this indicate that the population proportion of female athletes who graduate from the University of Colorado, Boulder, is now less than 67% ? Use a 5% level of significance.

a) Which distribution applies: the Standard Normal or the t distribution? Why?

b) What is the value of the level of significance? State the null and alternate hypotheses. Is it a left-tailed, right-tailed, or two-tailed test?

c) Compute the value of the sample test statistic (either t* or z*).

d) Find the critical value(s). Sketch the sampling distribution and show the critical value(s) and region(s).

e) Based on your answers in parts (a) to (d), will you reject or fail to reject the null hypothesis at the given level of significance?

f) Interpret your conclusion in the context of the application.

Students attending a certain university can select from 130 major areas of study. A student's major is identified in the registrar's records with a two-or three-letter code (for example, statistics majors are identified by STA, math majors by MS). Some students opt for a double major and complete the requirements for both of the major areas before graduation. The registrar was asked to consider assigning these double majors a distinct two- or three-letter code so that they could be identified through the student records system.

(a)

What is the maximum number of possible double majors available to the university's students?

double majors

(b)

If any two- or three-letter code is available to identify majors or double majors, how many major codes are available?

codes

(c)

How many major codes are required to identify students who have either a single major or a double major?

codes

(d)

Are there enough major codes available to identify all single and double majors at the university?

Yes

No    

based on the ratios completed above)

1. What the Ratios Tell Us About the Company in General or its Financial Management?

2. How the Ratios Affect the Decision Whether to Grant Short-term Credit or Long-term Credit, or to Buy Shares in the Company