After closing the revenue and expense accounts, the profit for the year ending December 31, 2017 of the Mo & Molly partnership is $129,000. The partnership agreement specifies that profits and losses will be shared using the following formula.

1. Allocate salary allowances of $24,000 to Mo and $30,000 to Molly.
2. Remaining profit (loss) is to be shared on a ratio of 2:1.

At the beginning of the year, Mo’s capital account had a balance of $45,000 and Molly’s capital account had a balance of $26,000. Mo withdrew $1,400 cash per month while Molly withdrew $2,800 per month from the partnership.

Prepare a schedule to show how the profit will be allocated to the two partners.
Prepare a statement of partners’ equity for the year.

Are the New York Yankees correct when they claim that revenue sharing simply rewards teams that do not try to win? (econ of sports)

According to the Internal Revenue Service (IRS), the chances of your tax return being audited are about 6 in 1,000 if your income is less than $50,000; 10 in 1,000 if your income is between $50,000 and $99,999; and 49 in 1,000 if your income is $100,000 or more (Statistical Abstract of the United States: 1995).

If two taxpayers with incomes under $50,000 are randomly selected and two with incomes more than $100,000 are randomly selected, what is the probability that none of these taxpayers will be audited by the IRS?

Managers should focus on strategies to increase profits primarily to generate more revenue or on strategies to cut costs to increase profits. What are your thoughts about this statement.

Diminishing Returns. Spending money on advertising for a product can increase the amount of revenue generated by selling that product. Eventually, however, the amount by which revenue increases is offset by the cost of the advertising. The revenue generated (in thousands of dollars) by spending x thousands of dollars advertising a certain product is measured and found to be

R(x) = x3e−0.3x,where x is at most 10 (that is, $10,000).

6. If R′(x) is negative, it means that spending more money will actually reduce sales. IsR′(x) ever negative on the interval 0 ≤ x ≤ 10?

7. We would like to find the point at which R′(x) stops increasing. This is called the point of diminishing returns.

   (a) Calculate R′′(x).
   (b) On what intervals is R′(x) increasing and on what intervals is R′(x) decreasing?

   (c) What is the point of diminishing returns for this particular product?

Forecasting labour costs is a key aspect of hotel revenue management that enables hoteliers to appropriately allocate hotel resources and fix pricing strategies. Mary, the President of Hellenic Hoteliers Federation (HHF) is interested in investigating how labour costs (variable L_COST) relate to the number of rooms in a hotel (variable Total_Rooms). Suppose that HHF has hired you as a business analyst to develop a linear model to predict hotel labour costs based on the total number of rooms per hotel using the data provided. 3.1 Use the least squares method to estimate the regression coefficients b0 and b1 3.2 State the regression equation 3.3 Plot on the same graph, the scatter diagram and the regression line 3.4 Give the interpretation of the regression coefficients b0 and b1 as well as the result of the t-test on the individual variables (assume a significance level of 5%) Determine the correlation coefficient of the two variables and provide an interpretation of its meaning in the context of this problem.Check statistically, at the 0.05 level of significance whether there is any evidence of a linear relationship between labour cost and total number of rooms per hotel

describe specifically why the revenue recognition practice of Dex were not appropriate under GGAAP

Chesterfield County had the following transactions. A budget is passed for all ongoing activities. Revenue is anticipated to be $871,250 with approved spending of $559,000 and operating transfers out of $257,000. A contract is signed with a construction company to build a new central office building for the government at a cost of $6,700,000 . A budget for this project has previously been recorded. Bonds are sold for $6,700,000 (face value) to finance construction of the new office building. The new building is completed. An invoice for $6,700,000 is received and paid. Previously unrestricted cash of $1,300,000 is set aside to begin paying the bonds issued in (c). A portion of the bonds comes due and $1,300,000 is paid. Of this total, $175,000 represents interest. The interest had not been previously accrued. Citizens' property tax levies are assessed. Total billing for this tax is $810,000. On this date, the assessment is a legally enforceable claim according to the laws of this state. The money to be received is designated for the current period and 90 percent is assumed to be collectible in this period with receipt of an additional 6 percent during subsequent periods but in time to be available to pay current period claims. The remainder is expected to be uncollectible. Cash of $150,000 is received from a toll road. This money is restricted for highway maintenance. The county received investments valued at $322,000 as a donation from a grateful citizen. Income from these investments must be used to beautify local parks. Prepare the entries first for fund financial statements and then for government-wide financial statements.

1.   The following table represents the internet advertising revenue (in billions).

     (x represents the time in years since 2007) Round function values to nearest hundredth.

Year 2007 2008 2009 2010 2011 2012 2013 2014

Internet Advertising Revenue (in billions) 21.2 23.4 22.7 25.8 28.5 32.6 36 40.5

a) Create a table of the r squared values together with each of your best fit curves (round to nearest thousandth).

b) Copy the best of the best fit functions here. Explain how you picked this function.

c) Use your best function to estimate the Internet Advertising Revenue this year.