Value of the Night Audit"

Evaluate the various night audit reports and determine which is the most valuable across the greatest number of circumstances. Explain your rationale. Analyze recent innovations in night audit procedures (with a focus on automation) to determine the most significant benefit to both guests and management of any given hotel. Explain your rationale.

What are 7 or more key ways in which marketers (in hotels and other companies) could actively and effectively engage with TripAdvisor? One way to answer this question is to assume that you are the CEO of a hotel and your TripAdvisor ratings at below 2 (where 5 is the best). What specific strategic initiatives would you as the CEO pursue to address this situation?

Many families in California are using backyard structures for home offices, art studios, and hobby areas as well as for additional storage. Suppose that the mean price for a customized wooden, shingled backyard structure is 3000 . Assume that the standard deviation is 1200 .

a. What is the z-score for a backyard structure costing (to 2 decimals)? If your answer is negative, enter minus (-) sign. -0.67

b. What is the z-score for a backyard structure costing (to 2 decimals)? 1.58

c. Interpret the -scores in parts (a) and (b). Comment on whether either should be considered an outlier.

2200 is ______ standard deviations________( below or above) the mean.

4900 is ______ standard deviations________(below or above) the mean.

d. If the cost for a backyard shed-office combination built in Albany, California, is 13000 , should this structure be considered an outlier? Explain.

13000 is ______ (to 2 decimals) standard deviations the mean. This cost ___(is/ is not) an outlier.

Many families in California are using backyard structures for home offices, art studios, and hobby areas as well as for additional storage. Suppose that the mean price for a customized wooden, shingled backyard structure is 3000 . Assume that the standard deviation is 1200 .

a. What is the z-score for a backyard structure costing (to 2 decimals)? If your answer is negative, enter minus (-) sign. -0.67

b. What is the z-score for a backyard structure costing (to 2 decimals)? 1.58

c. Interpret the -scores in parts (a) and (b). Comment on whether either should be considered an outlier.

2200 is ______ standard deviations________( below or above) the mean.

4900 is ______ standard deviations________(below or above) the mean.

d. If the cost for a backyard shed-office combination built in Albany, California, is 13000 , should this structure be considered an outlier? Explain.

13000 is ______ (to 2 decimals) standard deviations the mean. This cost ___(is/ is not) an outlier.

The average daily rate of a hotel in Canada as of August 2018 was $182.65. Assume the average daily rate follows a normal distribution with a standard deviation of $25.70.

Standard Normal Distribution Table

a. What is the probability that the average daily rate of a Canadian hotel will be:

(i) less than $175
P(X < 175)=P(X < 175)=

(ii) more than $200
P(X > 200)=P(X > 200)=

(iii) Between $150 and $190
P(150 < X < 190)=P(150 < X < 190)=

b. Determine the average daily rates that separate the:

(i) top 4% of average daily rates from the rest of the daily rates or from the bottom 96% of average daily rates
x=x=

(ii) bottom 15% of average daily rates from the rest of the daily rates
x=x=

(iii) middle 65% of average daily rates from the rest of the daily rates

  < x <  < x <  

Please provide 6 decimal places.

Please provide correct answers. Thanks.

Royal Park Ltd is an existing company that has issued previously 300,000 ordinary shares of $8 each and 100,000 5% preference shares of $15 each.

On 1^st January 2019, Royal Park Ltd offered to issue an additional 250,000 ordinary shares for $11, payable in two installments:

• $7 initially on application;
• $4 payable based on calls as required.

Applications for 400,000 shares were received by the closing date of 30^th January 2019.

On 10^th February 2019, shares were allotted, and a refund was made to unsuccessful applicants.

Directors announced on 30^th June 2019 a profit after tax of $900,000.

On 7^th July 2019, the board of directors during the Annual General Meeting announced that the company will pay preference dividends and ordinary dividends of 6.2 cents per fully paid equivalent share from retained earnings.

On 3^rd August 2019, payment was made for dividends declared.

Required:

a) Prepare the general journal entries to record the information above.                   

Narrations are NOT required.

During the Spock Hotel's last audit, the auditor noticed that the financial statements were missing some footnotes important for users using them for decision making. This action by the Spock Hotel is a violation of:

A trial balance is a necessary checkpoint for uncovering certain types of errors before one proceeds to other steps in the accounting process.

True

False

When posting transactions from the general journal to the ledger, ________ will need to be recorded on the journal page.

Le Hotel Cougar purchases $3,000 worth of supplies on July 15th, but they do not have to pay until next month. How should we record this transaction in July?

Record the following transactions in the journal of Capital Project Fund and
Governmental Activities. (You must prepare the journal form using Excel)

1. A capital projects fund issued $10,000,000, 5 percent bonds for $10,100,000 to finance the
construction of a little league baseball park. Premiums received are to be used to service the
debt issue.

2. The Parks and Recreation Special Revenue Fund transferred $300,000 for use in construction.

3. A construction contract was awarded in the amount of $10,200,000.

4. A bill was received from the contractor for $5,100,000

.
5. The contractor bill is paid, and 6% retain is withheld.

6. The park renovations were completed and the final bill of $5,100,000 was received. The
contractor bill and retained are approved for payment in full. Total construction expenditures
were allocated as follows: $960,000,000 to building, and the remainder to equipment.

7. The capital projects fund temporary accounts were closed, and the capital projects fund was
closed by transferring remaining funds to the debt service fund for use in debt repayment.

The food and beverage manager of the Glitz Hotel just got a great deal on beverages for the bar. Instead of buying large 5L containers for $25 each, they instead were able to purchase 1,000 cases of 12-packs of 500ml cans for $26,640. Beverages are served in 500ml servings. Usually, they sell 800 beverages over a weekend, but they actually sold 900 this past weekend. However, 20 customers had to be refunded due to problems with the cans.

Direct labour costs are driven by the number of beverages served. A typical weekend requires four servers each working two 8-hour shifts at $12/hour. At the end of the weekend, actual labour costs were $816.50 for 71 hours.

Required:

A   Calculate the following variances:

Material rate

Material quantity

Direct Labour rate

Direct labour efficiency

B   Briefly explain the variances to the hotel manager, and explain if the variances are somehow interlinked. Assess the special purchase and identify other factors that should be considered.

a)In order to determine the average price of hotel rooms in georgia, a sample of 63 hotels were selected. It was determined that the test statistic (z) was $1.74. We would like to test whether or not the average room price is significantly different from $110. Population standard deviation is known to us.Compute the p-value.

b)In order to determine the average price of hotel rooms in Atlanta, a sample of 36 hotels were selected. It was determined that the average price of the rooms in the sample was $108.4. The population standard deviation is known to be $13. We would like to test whether or not the average room price is significantly different from $110.Compute the test statistic.

c)A sample of 36 account balances of a credit company showed an average balance of $1,179 and a standard deviation of $136. You want to determine if the mean of all account balances is significantly greater than $1,150. Use a 0.05 level of significance. Assume the population of account balances is normally distributed.Compute the test statistic.