PLEASE ANSWER ALL QUESTIONS !
1. Gwen suspects fraud is occurring at a hotel she manages.
Historically, each of her hotels spends $8,250 per month in
maintenance expenses with a standard deviation of $1,070. At the
suspect hotel, the last 31 months have averaged $8,490 in
maintenance expenses. Gwen thinks the hotel is spending
significantly more than the others. Use the 10% significance
level.
Calculate the value of the test statistic.
Select one:
a. 0.87
b. 0.89
c. 1.36
d. 1.25
e. 1.54
2. Harley is working as a waiter at a restaurant while paying
his way through school. The manager told him he could expect $95
per night in tips with a standard deviation of $30. However, after
32 nights he is averaging only $85 in tips. He wants to know if
this is significantly different at the 5% significance level.
Calculate the value of the test statistic.
Select one:
a. -2.06
b. -1.61
c. -1.89
d. -2.26
e. -2.64
In: Statistics and Probability
Provide an example of why an auditor would reevaluate control risk near the end of the audit. Provide a different example of why an auditor would reevaluate fraud risk near the end of the audit.
In: Accounting
How does food in the duodenum inhibit motility and secretions in the stomach? IM LOOKING FOR SOMEWHAT AN DETAIL OR NEAR TO DETAIL NEAR ,...A GOOD EXPLANATION FOR THIS QUESTION , i need to understand , thank u
In: Anatomy and Physiology
Read the following brief regarding the Wet 'n Wild waterpark chain, and then answer the questions below to reflect on your reading.
Wet ‘n Wild is a chain of waterparks that are operated across Australia, the United States, and now China. The first waterpark in the chain was opened on the Gold Coast in Australia in 1984. Since that time they have expanded to eight locations, including Hawaii and Las Vegas. In 2013, they opened a new water park in Sydney, Australia. Despite Sydney being a major international city with a population of over 5 million, it does not have a major theme or amusement park. Therefore, the new Wet ‘n Wild facility was able to obtain a virtual monopoly in the Sydney area.
Obviously, Sydney is relatively well known for its famous beaches, including Bondi Beach. To counteract this indirect competitor, Wet ‘n Wild located their new waterpark around one hour inland, away from the beaches. This location was still within large residential areas and easily accessible by road. Because Sydney was lacking a major theme park, Wet ‘n Wild was able to attract significant publicity and media attention prior to opening, particularly as the park was promoted as “the largest waterpark in the world”. This was supported by significant advertising expenditure, which was primarily focused on selling season pass tickets.
The pricing structure for the new Wet ‘n Wild waterpark was designed to sell season passes, rather than individual visits. For example, a season pass cost $120 as compared to a one-day visit pass of $70. This meant that there was a significant incentive to buy the season pass. As a result, these season passes were enormously popular. The Christmas period in Australia is in the middle of summer, so these season passes became popular Christmas gifts as well.
As you can imagine, as consumers have paid for multiple visits – many of them want to get great “value for money”– which means as many visits as possible. As a consequence, the park become very crowded at times. On several occasions, in the middle of summer, the waterpark was at full capacity. That means that season pass holders, who had paid for their tickets, were unable to enter the park because it was full. The other contributing factor to this overcrowding situation was that Wet ‘n Wild was not open every day. Although their season ran from September to April (the warmer months in Australia), they were not open seven days a week – sometimes only being open on weekends.
With a waterpark operating at full capacity on a hot day, you can imagine that the lines were quite long and uncomfortable. It was not uncommon to wait 1½ to 2 hours for a waterslide. This resulted in significant customer dissatisfaction that was expressed through social media, including Wet n’ Wild’s own Facebook site.
In: Accounting
Blossom Industries Corp. purchased the following assets and also
constructed a building. All this was done during the current
year.
Assets 1 and 2
These assets were purchased together for $124,000 cash. The
following information was gathered:
| Description | Initial Cost on Seller’s Books |
Depreciation to Date on Seller’s Books |
Book Value on Seller’s Books |
Appraised Value |
|||||
| Machinery | $111,000 | $53,000 | $58,000 | $90,000 | |||||
| Office Equipment | 62,000 | 10,000 | 52,000 | 30,000 | |||||
Asset 3
This machine was acquired by making a $10,200 down payment and
issuing a $39,000, two-year, zero-interest-bearing note. The note
is to be paid off in two $19,500 instalments made at the end of the
first and second years. It was determined that the asset could have
been purchased outright for $34,200.
Asset 4
A truck was acquired by trading in an older truck that has the same
value in use. The newer truck has options that will make it more
comfortable for the driver; however, the company remains in the
same economic position after the exchange as before. Facts
concerning the trade-in are as follows:
| Cost of truck traded | $108,000 | |
| Accumulated depreciation to date of sale | 38,000 | |
| Fair market value of truck traded | 87,000 | |
| Cash paid by Blossom | 9,200 | |
| Fair market value of truck acquired | 70,000 |
Asset 5
Office equipment was acquired by issuing 160 common shares. The
shares are actively traded and had a closing market price a few
days before the office equipment was acquired of $10 per share.
Alternatively, the office equipment could have been purchased for a
cash price of $1,575.
Construction of Building
A building was constructed on land that was purchased on January 1
at a cost of $146,000. Construction began on February 1 and was
completed November 1. The payments to the contractor were as
follows:
| Date | Payment | |
| Feb. 1 | $120,000 | |
| June 1 | 353,000 | |
| Sept. 1 | 476,000 | |
| Nov. 1 | 105,000 |
To finance construction of the building, a $617,000, 13%
construction loan was taken out on February 1. At the beginning of
the project, Blossom invested the portion of the construction loan
that was not yet expended and earned investment income of $4,600.
The loan was repaid on November 1 when the construction was
completed. The firm had $204,000 of other outstanding debt during
the year at a borrowing rate of 10% and a $202,000 loan payable
outstanding at a borrowing rate of 6%.
(a)
Blossom uses a variety of alternatives to finance its acquisitions.
Record the acquisition of each of these assets, assuming that
Blossom prepares financial statements in accordance with IFRS. Use
the net amount to record the note. (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
capitalization rate to 2 decimal places, e.g. 52.75% and final
answers to 0 decimal places, e.g. 5,275.)
|
Account Titles and Explanation |
Debit |
Credit |
|
Acquisition of Assets 1 and 2 __________________ __________________ ___________________ Acquisition of Asset 3 ____________________ _____________________ ____________________ Acquisition of Asset 4 ___________________ ____________________ _____________________ ____________________ Acquisition of Asset 5 ____________________ _____________________ Construction of Building ____________________ ____________________ _____________________ _____________________ |
||
In: Accounting
In 2021, the Westgate Construction company entered into a contract to construct a road for Santa Clara County for $10,000,000. The road was completed in 2023. Information related to the contract is as follows.
| 2021 | 2022 | 2023 | |||||||
| Cost incurred during the year | $ | 2,184,000 | $ | 3,510,000 | $ | 2,316,600 | |||
| Estimated costs to complete as of year-end | 5,616,000 | 2,106,000 | 0 | ||||||
| Billings during the year | 1,800,000 | 3,894,000 | 4,306,000 | ||||||
| Cash collections during the year | 1,600,000 | 3,400,000 | 5,000,000 | ||||||
Assume that Westgate Construction's contract with Santa Clara County does not qualify for revenue recognition over time.
Westgate recognizes revenue over time according to percentage of completion.
1. Calculate the amount of revenue and gross profit (loss) to be recognized in each of the three years.
2a. In the journal below, complete the necessary journal entries for the year 2021 (credit "Various accounts" for construction costs incurred)
2b. In the journal below, complete the necessary journal entries for the year 2022 (credit "Various accounts for construction costs incurred)
2c. In the journal below, complete the necessary journal entries for the year 2023 (credit "Various accounts for construction costs incurred)
3. Complete the information required below to prepare a partial balance sheet for 2021and 2022 showing any items related to the contract. Indicate whether any of the amounts shown are contract assets or contract liabilities
4. Calculate the amount of revenue and gross profit (loss) to be recognized in each of the three years assuming the following costs incurred and costs to complete information. (Do not round intermediate calculations and round your final answers to the nearest whole dollar amount. Loss amounts should be indicated with a minus sign.)
| 2021 | 2022 | 2023 | |||||||
| Costs incurred during the year | $ | 2,520,000 | $ | 3,860,000 | $ | 3,220,000 | |||
| Estimated costs to complete as of year-end | 5,720,000 | 0 | |||||||
5.Calculate the amount of revenue and gross profit (loss) to be recognized in each of the three years assuming the following costs incurred and costs to complete information.
| 2021 | 2022 | 2023 | |||||||
| Costs incurred during the year | $ | 2,520,000 | $ | 3,860,000 | $ | 4,080,000 | |||
| Estimated costs to complete as of year-end | 5,720,000 | 4,220,000 | 0 | ||||||
Calculate the amount of revenue and gross profit (loss) to be recognized in each of the three years assuming the following costs incurred and costs to complete information. (Do not round intermediate calculations and round your final answers to the nearest whole dollar amount. Loss amounts should be indicated with a minus sign.)
| 2021 | 2022 | 2023 | |
| Revenue | |||
| Gross profit (loss) |
In: Accounting
A movie theater company wants to see if there is a difference in the average movie ticket sales in San Diego and Portland per week. They sample 20 sales from San Diego and 20 sales from Portland over a week. Test the claim using a 5% level of significance. Assume the variances are unequal and that movie sales are normally distributed.
|
San Diego |
Portland |
|
234 |
211 |
|
221 |
214 |
|
202 |
228 |
|
214 |
222 |
|
228 |
218 |
|
244 |
216 |
|
182 |
222 |
|
245 |
220 |
|
215 |
228 |
|
233 |
224 |
|
227 |
234 |
|
217 |
219 |
|
219 |
226 |
|
234 |
226 |
|
255 |
219 |
|
235 |
228 |
|
211 |
212 |
|
248 |
216 |
|
232 |
217 |
|
233 |
214 |
Choose the correct decision and summary based on the p-value.
In: Statistics and Probability
A movie theater company wants to see if there is a difference in the average movie ticket sales in San Diego and Portland per week. They sample 20 sales from San Diego and 20 sales from Portland over a week. Test the claim using a 5% level of significance. Assume the variances are unequal and that movie sales are normally distributed.
Choose the correct decision and summary based on the p-value.
Do not reject H0. There is evidence that the average movie ticket sales in San Diego and Portland per week differ.
Reject H0. There is no evidence that the average movie ticket sales in San Diego and Portland per week differ.
Reject H0. There is evidence that the average movie ticket sales in San Diego and Portland per week differ.
Do not reject H0. There is no evidence that the average movie ticket sales in San Diego and Portland per week differ.
|
San Diego |
Portland |
|
234 |
211 |
|
221 |
214 |
|
202 |
228 |
|
214 |
222 |
|
228 |
218 |
|
244 |
216 |
|
182 |
222 |
|
245 |
220 |
|
215 |
228 |
|
233 |
224 |
|
227 |
234 |
|
217 |
219 |
|
219 |
226 |
|
234 |
226 |
|
255 |
219 |
|
235 |
228 |
|
211 |
212 |
|
248 |
216 |
|
232 |
217 |
|
233 |
214 |
In: Statistics and Probability
Please assist with the following question:
A home theater in a box is the easiest and cheapest way to provide surround sound for a home entertainment center. A sample of prices is shown here (Consumer Reports Buying Guide, 2004). The prices are for models with a DVD player and for models with a DVD player.
|
Existing Homes |
315.5 |
202.5 |
140.2 |
181.3 |
470.2 |
169.9 |
112.8 |
230.0 |
177.5 |
|
New Homes |
275.9 |
350.2 |
195.8 |
525.0 |
225.3 |
215.5 |
175.0 |
149.5 |
1
|
Models with DVD Player |
Price |
Models without DVD Player |
Price |
|
Sony HT-1800DP |
$450 |
Pioneer HTP-230 |
$300 |
|
Pioneer HTD-330DV |
300 |
Sony HT-DDW750 |
300 |
|
Sony HT-C800DP |
400 |
Kenwood HTB-306 |
360 |
|
Panasonic SC-HT900 |
500 |
RCA RT-2600 |
290 |
|
Panasonic SC-MTI |
400 |
Kenwood HTB-206 |
300 |
Compute the mean price for models with a DVD player and the mean price for models without a DVD player. What is the additional price paid to have a DVD player included in a home theater unit?
Compute the range, variance, and standard deviation for the two samples. What does this information tell you about the prices for models with and without a DVD player?
MLB Salaries:
| Player | Phillies | Dodgers | Rays | Red Sox |
| 1 | 14250 | 19000 | 6000 | 14000 |
| 2 | 10000 | 15730 | 5375 | 13000 |
| 3 | 8583 | 15217 | 3898 | 12500 |
| 4 | 8000 | 14727 | 3785 | 10442 |
| 5 | 7958 | 10000 | 2875 | 10167 |
| 6 | 7786 | 9517 | 2750 | 9250 |
| 7 | 6350 | 9250 | 2400 | 8333 |
| 8 | 6000 | 9000 | 2300 | 8000 |
| 9 | 5500 | 8000 | 2250 | 6000 |
| 10 | 5000 | 7500 | 1600 | 5083 |
| 11 | 3250 | 7433 | 1275 | 4000 |
| 12 | 3000 | 2000 | 1000 | 3850 |
| 13 | 2400 | 1925 | 800 | 3000 |
| 14 | 1700 | 1115 | 417 | 3000 |
| 15 | 900 | 600 | 413 | 2000 |
| 16 | 900 | 500 | 412 | 1275 |
| 17 | 600 | 454 | 412 | 840 |
| 18 | 500 | 425 | 405 | 835 |
| 19 | 480 | 415 | 401 | 800 |
| 20 | 445 | 411 | 401 | 775 |
| 21 | 440 | 406 | 400 | 457 |
| 22 | 425 | 400 | 398 | 422 |
| 23 | 420 | 393 | 397 | 421 |
| 24 | 415 | 393 | 396 | 406 |
| 25 | 395 | 392 | 396 | 405 |
| 26 | 393 | 390 | 396 | 403 |
| 27 | 390 | 390 | 392 | 400 |
| 28 | 390 | 390 | 390 | 396 |
In: Economics
A movie theater company wants to see if there is a difference in the average movie ticket sales in San Diego and Portland per week. They sample 20 sales from San Diego and 20 sales from Portland over a week. Test the claim using a 5% level of significance. Assume the variances are unequal and that movie sales are normally distributed.
|
San Diego |
Portland |
|
234 |
211 |
|
221 |
214 |
|
202 |
228 |
|
214 |
222 |
|
228 |
218 |
|
244 |
216 |
|
182 |
222 |
|
245 |
220 |
|
215 |
228 |
|
233 |
224 |
|
227 |
234 |
|
217 |
219 |
|
219 |
226 |
|
234 |
226 |
|
255 |
219 |
|
235 |
228 |
|
211 |
212 |
|
248 |
216 |
|
232 |
217 |
|
233 |
214 |
Choose the correct decision and summary based on the p-value.
Do not reject H0. There is evidence that the average movie ticket sales in San Diego and Portland per week differ.
Reject H0. There is no evidence that the average movie ticket sales in San Diego and Portland per week differ.
Reject H0. There is evidence that the average movie ticket sales in San Diego and Portland per week differ.
Do not reject H0. There is no evidence that the average movie ticket sales in San Diego and Portland per week differ.
In: Statistics and Probability