Otay Lakes Park is a private camping ground near the Mount Miguel Recreation Area. It has compiled the following financial information as of December 31, 2017.
|
Service revenue (from camping fees) |
$132,000 |
Dividends |
$ 9,000 |
|
Sales revenue (from general store) |
25,000 |
Notes payable |
50,000 |
|
Accounts payable |
11,000 |
Expenses during 2017 |
126,000 |
|
Cash |
8,500 |
Supplies |
5,500 |
|
Equipment |
114,000 |
Common stock |
40,000 |
|
Retained earnings (1/1/2017) |
5,000 |
Instructions
(a)
Determine Otay Lakes Park's net income for 2017.
(b)
Prepare a retained earnings statement and a balance sheet for Otay Lakes Park as of December 31, 2017.
(c)
Upon seeing this income statement, Walt Jones, the campground manager, immediately concluded, “The general store is more trouble than it is worth—let's get rid of it.” The marketing director isn't so sure this is a good idea. What do you think?
In: Accounting
Case 3: Recently, an association that represented police in New Jersey complained that the incidence of cancer was unusually high among police officers who used radar guns in tracking the speed of drivers. The association brought suit against the state, claiming that those officers who used these radar guns had an incidence of cancer 18 percent higher than a comparable group of government workers from the state park service who were randomly selected for comparison purposes. The comparison sample and the police officers were matched on educational level, age, gender, and years of service. The sample was large: 283 police officers and 231 park workers.
Was the case justified? Why or why not? (Be sure to support your answer with reference to the strengths and weaknesses of the design, and consider possible confounds.)
What kind of study is this? What are the problems associated with this kind of study?
How would you improve the study?
In: Psychology
You travel to one of the shops where you park your car beside a
Ferrari Testa Rossa in the store car park, and
enter the store to find an immaculately dressed lady who runs the
store on her own. The dresses sold in the
store retail for several thousand dollars an item. On chatting to
the lady, you discover the Ferrari is her
“getting to work” car. You note that there is no cash register and
are told that given the value of the dresses,
only a few sales a day are processed, and these are either by
EFTPOS using a single machine, or cash, which
is immediately banked. Customers are given handwritten detailed
receipts, which do not carry a serial
number.
Required:
Given the above situation critically analyse the sales process and
describe in detail what management
assertions may be at risk relative to sales. Give full reasons for
your choices. In your answer explain what
management assertions are.
In: Accounting
A survey found that women's heights are normally distributed with mean 62.6 in. and standard deviation 2.1 in. The survey also found that men's heights are normally distributed with mean 69.4 in. and standard deviation 3.8 in. Most of the live characters employed at an amusement park have height requirements of a minimum of 57 in. and a maximum of 63 in. Complete parts (a) and (b) below. a. Find the percentage of men meeting the height requirement. What does the result suggest about the genders of the people who are employed as characters at the amusement park? The percentage of men who meet the height requirement is nothing%. (Round to two decimal places as needed.) Since most men ▼ meet do not meet the height requirement, it is likely that most of the characters are ▼ men. women. b. If the height requirements are changed to exclude only the tallest 50% of men and the shortest 5% of men, what are the new height requirements? The new height requirements are a minimum of nothing in. and a maximum of nothing in. (Round to one decimal place as needed.)
In: Statistics and Probability
E10.12 Interfund Transactions
Interfund transfers of the general fund of Timberline County for 2020 were as follows:
1. $2,000,000 advance to the Park Development special revenue fund, to permit initial expenditures under a project to be fully supported by a federal grant.
2. $1,500,000 to the Timberline County Fire Protection District (a special revenue fund) as the county’s contribution to fire and emergency medical service activities for the year.
3. $500,000 from the Roads capital projects fund, unspent proceeds of a bond issue.
4. $3,000,000 to the County Hospital (enterprise fund), as the city’s cost of services provided.
5. $2,900,000 to the Airport Fund (enterprise fund) to temporarily finance the maintenance of runways.
6. $2,000,000 from the Park Development special revenue fund, to repay the advance.
Required
For each of the above interfund transfers, state how the transaction is reported on the general fund’s balance sheet and/or statement of revenues, expenditures, and changes in fund balances.
In: Accounting
Most Major airports have separate lots for long-term and short-term parking. The cost to park depends on the lot you select , and how long you stay. Considering this rate structure on the lot you select, and how long you stay. Consider this rate structure from the Salt Lake International Airport during the summer of 2016.
Long-Term (Economy) Parking
-The First Hour is $2.00, and each additional hour or fraction thereof is $1.00
-Daily maximum $9.00
-Weekly maximum $60
Short Term Parking
-The first 30 minutes are $2.00 and each additional 20 minutes or fraction thereof is $1.00
-Daily maximum $32.00
Write a program using matlab that asks the user the following:
-Which lot are you using?
-How many weeks, hours, days, and minutes did you park? Your program should calculate the parking bill.
In: Computer Science
Which has a higher systematic risk and why?
(A) a stock with a slope(beta) of 0.8 and R^2 of 0.7
(B) a stock with a slope(beta) of 0.4 and R^2 of 0.3
In: Finance
Do the following production functions have increasing, decreasing, or constant returns to scale? Which ones fail to satisfy the law of diminishing returns?
? = min(??, ??)
?=?10.3 ?20.3 ?0.3
In: Economics
Statistics indicate that 4% of males and 0.3% of females are color-blind.Assume thata population is half female.What is the probability that a randomly selected person isfemale, given that the person is color-blind?
In: Math
In: Chemistry