Problem 6 : Mueller Company purchased equipment on January 1, 2015 for $2,000,000. Because of the unique kind of equipment and the possibility of radioactivity from its components, the equipment will require very special disposal at the end of its useful life of 15 years. Mueller estimates the cost of disposal at $250,000 (ARO). The equipment is depreciated using the straight line method. Mueller's operations have experienced significant losses for the past 2 years and, as a result, the company has decided that the equipment should be evaluated for possible impairment at the beginning of 2020. The management of Mueller Company estimates that the equipment has a remaining useful life of 7 years. Net cash inflow from the equipment will be $157,000 per year. The fair value of the equipment and the ARO is determined using a 12% discount rate or cost of capital.

Required: 1. Show the journal entry needed in 2015 to record the purchase of the equipment and the related disposal liability.

2. Show the adjusting entry needed for the asset and liability at the end of 2015.

3. Determine whether the equipment is impaired as of the beginning of 2020.

4. Show any journal entry needed to record the loss on impairment if needed at the beginning of 2020.

With successful candidates, they should be prepared to deal with ethical issues not only in the workplace as well also answering ethical questions during an interview process.

Would this be true or false and why would you say so?

The appropriate dress attire for an interview should make you stand out, a good way to do this is to pair your suit with a bright colored shirt and matching tie or scarf?

Would this be true or false and why?

The most common mistake someone could do during an interview process is a lie, why would this be a problem with getting hired or declined?

ABC Moving and Storage acquired a new truck for $100,000, paying $20,000 cash and signing a promissory note for the balance. According to the bill of sale, ABC also paid cash for sales tax of 8%, plus registration, tags and delivery fees of $400. The new truck is estimated to have a 5-year economic life and a residual (salvage) value of $8,400. ABC uses straight-line depreciation. Due to delays, the truck was not placed in service until April 1, 2020. ABC has a December 31 fiscal year.

Question

Refer to problem 1. The promissory note that ABC signed to pay for the balance of the truck is dated April 1, 2020. The interest rate is 6% and payment terms are $40,000 plus interest due on March 31, 2021 and the balance due, plus interest, on March 31, 2022. Prepare journal entries required on December 31, 2020, March 31, 2021, December 31, 2021 and March 31, 2022. Show calculations.

The politicians believe that an automated future can generate enough taxes to provide a guaranteed income for all citizens. In fact, in 2017 Finland began an experiment in universal basic income where all 2000 participants receive $600 per month regardless of income, wealth and employment status.

Question 1: Using either the categorical imperative or utilitarianism, is universal basic income ethical? If so, is it appropriate? Why or why not?

Question 2: What other solutions can be developed to address the negative consequences of automation? Please elaborate?

A study considered the question, "Are you a registered voter?" Accuracy of response was confirmed by a check of city voting records. Two methods of survey were used: a face-to-face interview and a telephone interview. A random sample of 95 people were asked the voter registration question face to face. Of those sampled, eighty respondents gave accurate answers (as verified by city records). Another random sample of 82 people were asked the same question during a telephone interview. Of those sampled, sixty-nine respondents gave accurate answers. Assume the samples are representative of the general population.

(a) Categorize the problem below according to parameter being estimated, proportion p, mean μ, difference of means μ₁ – μ₂, or difference of proportions p₁ – p₂. Then solve the problem.

p₁ – p₂μ₁ – μ₂    μp

(b) Let p₁ be the population proportion of all people who answer the voter registration question accurately during a face-to-face interview. Let p₂ be the population proportion of all people who answer the question accurately during a telephone interview. Find a 99% confidence interval for p₁ – p₂. (Use 3 decimal places.)

(c) Does the interval contain numbers that are all positive? all negative? mixed? Comment on the meaning of the confidence interval in the context of this problem. At the 99% level, do you detect any difference in the proportion of accurate responses from face-to-face interviews compared with the proportion of accurate responses from telephone interviews?

1. Because the interval contains only positive numbers, we can say that there is a higher proportion of accurate responses in face-to-face interviews.

2. Because the interval contains both positive and negative numbers, we can not say that there is a higher proportion of accurate responses in face-to-face interviews.

3. We can not make any conclusions using this confidence interval.

4. Because the interval contains only negative numbers, we can say that there is a higher proportion of accurate responses in telephone interviews.

A study considered the question, "Are you a registered voter?" Accuracy of response was confirmed by a check of city voting records. Two methods of survey were used: a face-to-face interview and a telephone interview. A random sample of 92 people were asked the voter registration question face to face. Of those sampled, seventy-six respondents gave accurate answers (as verified by city records). Another random sample of 95 people were asked the same question during a telephone interview. Of those sampled, sixty-five respondents gave accurate answers. Assume the samples are representative of the general population.

(a) Categorize the problem below according to parameter being estimated, proportion p, mean μ, difference of means μ₁ – μ₂, or difference of proportions p₁ – p₂. Then solve the problem.

μ₁ – μ₂

p

p₁ – p₂

μ

(b) Let p₁ be the population proportion of all people who answer the voter registration question accurately during a face-to-face interview. Let p₂ be the population proportion of all people who answer the question accurately during a telephone interview. Find a 99% confidence interval for p₁ – p₂. (Use 3 decimal places.)

(c) Does the interval contain numbers that are all positive? all negative? mixed? Comment on the meaning of the confidence interval in the context of this problem. At the 99% level, do you detect any difference in the proportion of accurate responses from face-to-face interviews compared with the proportion of accurate responses from telephone interviews?

Because the interval contains only positive numbers, we can say that there is a higher proportion of accurate responses in face-to-face interviews.

Because the interval contains both positive and negative numbers, we can not say that there is a higher proportion of accurate responses in face-to-face interviews.    

We can not make any conclusions using this confidence interval.

Because the interval contains only negative numbers, we can say that there is a higher proportion of accurate responses in telephone interviews.

A study considered the question, "Are you a registered voter?" Accuracy of response was confirmed by a check of city voting records. Two methods of survey were used: a face-to-face interview and a telephone interview. A random sample of 94 people were asked the voter registration question face to face. Of those sampled, eighty respondents gave accurate answers (as verified by city records). Another random sample of 89 people were asked the same question during a telephone interview. Of those sampled, seventy-four respondents gave accurate answers. Assume the samples are representative of the general population.

(a) Categorize the problem below according to parameter being estimated, proportion p, mean μ, difference of means μ1 – μ2, or difference of proportions p1 – p2. Then solve the problem. μ1 – μ2 p μ p1 – p2

(b) Let p1 be the population proportion of all people who answer the voter registration question accurately during a face-to-face interview. Let p2 be the population proportion of all people who answer the question accurately during a telephone interview. Find a 90% confidence interval for p1 – p2. (Use 3 decimal places.) lower limit upper limit

(c) Does the interval contain numbers that are all positive? all negative? mixed? Comment on the meaning of the confidence interval in the context of this problem. At the 90% level, do you detect any difference in the proportion of accurate responses from face-to-face interviews compared with the proportion of accurate responses from telephone interviews? Because the interval contains only positive numbers, we can say that there is a higher proportion of accurate responses in face-to-face interviews.

Because the interval contains both positive and negative numbers, we can not say that there is a higher proportion of accurate responses in face-to-face interviews.

We can not make any conclusions using this confidence interval.

Because the interval contains only negative numbers, we can say that there is a higher proportion of accurate responses in telephone interviews.

Tristar Production Company began operations on September 1, 2018. Listed below are a number of transactions that occurred during its first four months of operations. (FV of $1, PV of $1, FVA of $1, PVA of $1, FVAD of $1 and PVAD of $1) (Use appropriate factor(s) from the tables provided.)

1. On September 1, the company acquired five acres of land with a building that will be used as a warehouse. Tristar paid $210,000 in cash for the property. According to appraisals, the land had a fair value of $142,600 and the building had a fair value of $87,400.
2. On September 1, Tristar signed a $51,000 noninterest-bearing note to purchase equipment. The $51,000 payment is due on September 1, 2019. Assume that 9% is a reasonable interest rate.
3. On September 15, a truck was donated to the corporation. Similar trucks were selling for $3,600.
4. On September 18, the company paid its lawyer $3,000 for organizing the corporation.
5. On October 10, Tristar purchased maintenance equipment for cash. The purchase price was $26,000 and $1,050 in freight charges also were paid.
6. On December 2, Tristar acquired various items of office equipment. The company was short of cash and could not pay the $6,600 normal cash price. The supplier agreed to accept 200 shares of the company's nopar common stock in exchange for the equipment. The fair value of the stock is not readily determinable.
7. On December 10, the company acquired a tract of land at a cost of $31,000. It paid $3,000 down and signed a 11% note with both principal and interest due in one year. Eleven percent is an appropriate rate of interest for this note.

indicate whether it is best assessed by using a confidence interval or a hypothesis test or whether the statistical inference is not relevant to answer it.

1. 1. What percent of university students support instituting a fall break?
2. 2. Do basketball players hit a higher proportion of free throws when they are playing at home than when they are playing away?
3. 3. Do majority of students who drive wear their seatbelts?
4. 4. On average, were the 23 players on the 2010 Canadian football team older than the 23 players on the 2010 US football team?

According to a study published by a university, approximately two thirds of the 20 million people who consume Valium in the US are women. Suppose a doctor who specializes in anxiety problems and muscle spasms always prescribes Valium for his patients. Suppose further that the chance that the doctor will prescribe a female patient is 2/3.

a) Find the probability that the fifth prescription for Valium given by a doctor is the first Valium prescription for a woman.

b) What is the probability that the doctor will see five patients until three women receive the Valium prescription?