Crescent City Fun Park (Crescent City), an amusement park with thrilling rides and a water park, sells tickets onsite and has a website that allows customers to purchase tickets in advance and bypass the long lines. Customers who use the website include the general public and travel agents. Both individuals and travel agents can purchase tickets online using a major credit card. Some travel agents prefer the option of using the website to purchase tickets, but rather than pay with a credit card, be billed at the end of each month. To use the billing option, a travel agent must contact a sales agent with Crescent City and complete a detailed application with at least two references. Once an application is complete, the sales manager verifies the information, contacts the references, and either approves or denies the application. If the application is approved, the sales manager decides on a credit limit for the travel agent. Terms of payment for all travel agent customers is 30 days from the invoice date.

The auditor performs tests of controls on the credit-granting process and gathers sufficient appropriate audit evidence to conclude that the process is working effectively. Credit is only granted after a thorough credit check. However, Crescent City has continual problems collecting from the larger travel agents within the 30-day period. Some of the largest travel agents regularly take 90 or more days to pay an invoice. Crescent City allows this late payment habit to continue simply because of the volume of business generated by the large travel agents. Crescent City has 398 travel agents as customers, with 42 of them representing 81% of accounts receivable.

a. Recommend which customers should be selected for further testing and why.

b. Explain when the testing of accounts receivable would take place and why.

Crescent City Fun Park (Crescent City), an amusement park with thrilling rides and a water park, sells tickets onsite and has a website that allows customers to purchase tickets in advance and bypass the long lines. Customers who use the website include the general public and travel agents. Both individuals and travel agents can purchase tickets online using a major credit card. Some travel agents prefer the option of using the website to purchase tickets, but rather than pay with a credit card, be billed at the end of each month. To use the billing option, a travel agent must contact a sales agent with Crescent City and complete a detailed application with at least two references. Once an application is complete, the sales manager verifies the information, contacts the references, and either approves or denies the application. If the application is approved, the sales manager decides on a credit limit for the travel agent. Terms of payment for all travel agent customers is 30 days from the invoice date.

The auditor performs tests of controls on the credit-granting process and gathers sufficient appropriate audit evidence to conclude that the process is working effectively. Credit is only granted after a thorough credit check. However, Crescent City has continual problems collecting from the larger travel agents within the 30-day period. Some of the largest travel agents regularly take 90 or more days to pay an invoice. Crescent City allows this late payment habit to continue simply because of the volume of business generated by the large travel agents. Crescent City has 398 travel agents as customers, with 42 of them representing 81% of accounts receivable.

a. Recommend which customers should be selected for further testing and why.

b. Explain when the testing of accounts receivable would take place and why.

An usher at a movie theater claims no more than half of all movie theater customers buy something at the refreshment stand. To test the claim, the usher observes a random sample of 80 people and finds that 47 of them buy something.

a) What is the Null Hypothesis and the Alternative Hypothesis for the usher's claim?

b) If we use a 0.01 significance level, what is the critical value for the test?

c) Calculate the value of the test statistic.

d) What is your decision about the null hypothesis and your conclusion about usher’s claim?

e) Calculate the p-value for this test.

Magical Elves Theater

Magical Elves Theater is located in the Brooklyn Mall. A cashier’s booth is located near the entrance to the theater. Three cashiers are employed. One works from 1–5 p.m., another from 5–9 p.m. The shifts are rotated among the three cashiers. The cashiers receive cash from customers and operate a machine that ejects serially numbered tickets. The rolls of tickets are inserted and locked into the machine by the theater manager at the beginning of each cashier’s shift.

After purchasing a ticket, the customer takes the ticket to an usher stationed at the entrance of the theater lobby some 60 feet from the cashier’s booth. The usher tears the ticket in half, admits the customer, and returns the ticket stub to the customer. The other half of the ticket is dropped into a locked box by the usher.

At the end of each cashier’s shift, the theater manager removes the ticket rolls from the machine and makes a cash count. The cash count sheet is initialed by the cashier. At the end of the day, the manager deposits the receipts in total in a bank night deposit vault located in the mall. The manager also sends copies of the deposit slip and the initialed cash count sheets to the theater company treasurer for verification and to the company’s accounting department. Receipts from the first shift are stored in a safe located in the manager’s office.

Required:

1. Identify the measures in place to make sure that the cash receipt transactions are properly accounted for.
2. If the usher and cashier decide to collaborate to misappropriate/steal cash, what actions might they take?

Hasagama Middle School

Hasagama Middle School wants to raise money for a new sound system for its auditorium. The primary fund-raising event is a dance at which the famous disc jockey D.J. Rivet will play classic and not-so-classic dance tunes. Will Schuester, the music and theater instructor, has been given the responsibility for coordinating the fund-raising efforts. This is Will’s first experience with fund-raising. He decides to put the eighth-grade choir in charge of the event; he will be a relatively passive observer.

Will had 500 unnumbered tickets printed for the dance. He left the tickets in a box on his desk and told the choir students to take as many tickets as they thought they could sell for $5 each. In order to ensure that no extra tickets would be floating around, he told them to dispose of any unsold tickets. When the students received payment for the tickets, they were to bring the cash back to Will and he would put it in a locked box in his desk drawer. Some of the students were responsible for decorating the gymnasium for the dance. Will gave each of them a key to the money box and told them that if they took money out to purchase materials, they should put a note in the box saying how much they took and what it was used for. After 2 weeks the money box appeared to be getting full, so Will asked Luke Gilmor to count the money, prepare a deposit slip, and deposit the money in a bank account Will had opened.

The day of the dance, Will wrote a check from the account to pay the DJ. D.J. Rivet, however, said that he accepted only cash and did not give receipts. So Will took $200 out of the cash box and gave it to D.J. At the dance Will had Mel Harris working at the entrance to the gymnasium, collecting tickets from students, and selling tickets to those who had not prepurchased them. Will estimated that 400 students attended the dance.

The following day Will closed out the bank account, which had $250 in it, and gave that amount plus the $180 in the cash box to Principal Foran. Principal Foran seemed surprised that, after generating roughly $2,000 in sales, the dance netted only $430 in cash. Will did not know how to respond.

Required: Identify as many cash control weaknesses/ improper handling of cash as you can in this scenario, and suggest how each can be addressed.

1. In the second experiment, you perform everything the same way you did in the first, but this time you replace the air in each flask with nitrogen gas (N₂) which is essentially inert before you begin. Graph the data, and be sure to display the equations of the trendlines for each condition. Insert your graph below the data table and answer the following questions.

a) How does the rate of glucose consumption compare with the first experiment you did?

b) Do you think yeast is performing cellular respiration? Why or why not.

The maintenance manager at a trucking company wants to build a regression model to forecast the time (in years) until the first engine overhaul based on four explanatory variables: (1) annual miles driven (in 1,000s of miles), (2) average load weight (in tons), (3) average driving speed (in mph), and (4) oil change interval (in 1,000s of miles). Based on driver logs and onboard computers, data have been obtained for a sample of 25 trucks. A portion of the data is shown in the accompanying table.

Excel Data File:

a. For each explanatory variable, discuss whether it is likely to have a positive or negative causal effect on time until the first engine overhaul.

b. Estimate the regression model. (Negative values should be indicated by a minus sign. Round your answers to 4 decimal places.)

c. Based on part (a), are the signs of the regression coefficients logical?

The maintenance manager at a trucking company wants to build a regression model to forecast the time (in years) until the first engine overhaul based on four explanatory variables: (1) annual miles driven (in 1,000s of miles), (2) average load weight (in tons), (3) average driving speed (in mph), and (4) oil change interval (in 1,000s of miles). Based on driver logs and onboard computers, data have been obtained for a sample of 25 trucks. A portion of the data is shown in the accompanying table.

a. For each explanatory variable, discuss whether it is likely to have a positive or negative causal effect on time until the first engine overhaul.

b. Estimate the regression model. (Negative values should be indicated by a minus sign. Round your answers to 4 decimal places.)

c. Based on part (a), are the signs of the regression coefficients logical?

d. What is the predicted time before the first engine overhaul for a particular truck driven 55,000 miles per year with an average load of 22 tons, an average driving speed of 55 mph, and 15,000 miles between oil changes. (Round coefficient estimates to at least 4 decimal places and final answer to 2 decimal places.)

1-Describe how rock musicals changed the trajectory of musical theater and give an example of two early rock musicals.?

Post the definition of an adhesion contract and an example of how dry cleaners or movie theater might have an adhesion contract with the customers.