Gale, McLean, and Lux are partners of Burgers and Brew Company with capital balances as follows: Gale, $88,000; McLean, $77,000; and Lux, $151,000. The partners share profit and losses in a 3:2:5 ratio. McLean decides to withdraw from the partnership. Prepare General Journal entries to record the May 1, 2020, withdrawal of McLean from the partnership under each of the following unrelated assumptions:

a. McLean sells his interest to Freedman for $172,000 after Gale and Lux approve the entry of Freedman as a partner (where McLean receives the cash personally from Freedman).

b. McLean gives his interest to a son-in-law, Park. Gale and Lux accept Park as a partner.
c. McLean is paid $77,000 in partnership cash for his equity.

d. McLean is paid $136,000 in partnership cash for his equity.

e. McLean is paid $31,250 in partnership cash plus machinery that is recorded on the partnership books at $119,000 less accumulated depreciation of $87,000. (Round final answers to 2 decimal places.)

4. Emily likes bird watching. Every year she takes a vacation to a park famous for

its rare birds. She goes there for 10 days. From her past experience, she knows that on

average she can get 6 good sightings a day. A very good day for her is a day with at least

10 good sightings. Assume Poisson distribution of the number of good sightings on any day

(independently of other days).

a) What is the probability that she can get at least one very good day this time?

b) What is the expected number of very good days during this vacation?

c) What is the expected number of days she has to go bird watching in this park before

getting one very good day?

d) Extra credit: What should the average number of good sightings per day be so that

the probability that she gets at least one very good day during this vacation be at least 0.9?

Arts Centre Parking

The following information is required for Questions 5–8:

It is said that "Australia has one of the world's great opera houses; unfortunately, the outside is in Sydney and the inside is in Melbourne."

The opera house in Melbourne is called the Arts Centre, and it has 250 seats. Demand for a typical opera is Q = 400 – 2P, but there is only demand so long as the opera patrons can park for free beneath the Arts Centre. (Opera patrons are lazy, and don't like to walk. They are also selfish, so each patron drives in a car all by himself or herself.)

There are 300 parking places beneath the Arts Centre, and the parking is owned and operated by the Arts Centre. Suppose there are no other uses for the parking places.

What price do you charge for the opera tickets? Answer is $100

For Questions 6–8 assume that the Arts Centre is very conveniently located in the middle of town, so its parking lot is very popular. They can sell as many parking places as they want for $20 per night. However, a Melbourne city ordinance prohibits them from charging more than $20 per night for parking. The system at the Arts Centre is to allow opera patrons to park for free, if they show their ticket, and to allow a certain number of "outside people" (non-opera-attenders) to park at $20 per night.

Q1) How many parking places do they set aside for "outside people", on an opera night?

Q2) Suppose that the very popular opera "Carmen" is showing tonight. Demand for that opera is Q = 600 - 2P.
How many parking places does the Arts Centre allow "outside people" to use, now?

Q3) Now what is the price of an opera ticket?

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.

Wildhorse provides shuttle service between four hotels near a medical center and an international airport. Wildhorse uses two 10-passenger vans to offer 12 round trips per day. A recent month’s activity in the form of a cost-volume-profit income statement is shown below.

Calculate the break-even point in dollars.

Umbrella Corp uses LIFO method to report inventory. Inventory at the beginning of the year consisted of 10,000 units of the company's one product for $15 each. During the year:

60,000 units were purchased at the cost of $18 each.

64,000 units were sold.

Near the end of the fiscal year, management is considering purchasing an additional 5,000 units at $18.

What would the effect of this purchase be on income before taxes?

Would the answer be the same if the company used FIFO instead of LIFO?

Note: please provide your answer and explanations on a Word or Excel sheet as hand writing is difficult to read. I would appreciate it.

Digitel Electronics’ engineering and marketing departments have prepared forecasts for the development costs and operating profits of the next generation of their digital electrical meters. Development costs for each of the next three years will be $50,000.Manufacturing equipment costing $100,000 will be purchased near the end of Year 3. Annual profits for the normal five-year product life (Years 4 to 8 inclusive) are projected to be $80,000. The salvage value of the manufacturing equipment at the end of Year 8 is $20,000. Use NPV as your selection criteria. Should Digitel proceed with the product development if its annually compounded cost of capital is: a. 14%? b. 17%?

How would you define both the built environment and the social environment. Discuss how these two environments can affect health at the individual, community, and population levels.

How to determine coefficients for equilibrium constants?

The equilibrium constant built in aspen has the following equation:

ln (Keq) = A + B / T

How to determine these coefficients: A, B