Kindly, solve both question 1 and 2

Question 1:
ABC, Inc., reported income from continuing operations (before taxes) of $55,000. In addition, there was a $15,000 loss (pretax) on the sale of a discontinued component of the business. Taxes of $16,500 (30%) were paid on income from continuing operations.
Required:
Prepare the bottom section of the income statement.

Question 2:
XYZ Company had the following information related to its financial statements:
1) The company issued bonds in the amount of $50,000.
2) The company earned net income of $78,900 and declared a cash dividend of $0.25 per share. Currently there are 50,000 ordinary shares outstanding.
3) Retained earnings at January 1, 2016 was $82,000.
Required:
Prepare a statement of retained earnings for December 31, 2016.

On December 31, 2019, Sandhill Corporation had 140,000 common shares outstanding. On April 30, 2020, the company issued an additional 50,000 common shares for cash. On July 31, 2020, the company repurchased and cancelled 20,000 common shares.

During the year ended December 31, 2020, Sandhill earned income before taxes of $40,000,000. Not included in this income was a loss from discontinued operations of $5,000,000 before tax. The company was subject to a 25% income tax rate.

Calculate earnings per share(From continuing operations, Discontinuing operations) data as they should appear on the 2020 income statement of Sandhill Corporation. (Round answers to 2 decimal places, e.g. 52.75.)

Earnings per share
Continuing operations

$
Discontinued operations

Earnings per share

$

6- Consider the market for rubber bands. If this market has a very inelastic supply curve and a very elastic demand curve, who would bear most of the burden of a tax on rubber bands?

a) Consumers b) Producers c) They would bear the burden more or less equally. d) We can't know who will bear most of the burden.

7- If this market has a very elastic supply curve and a very inelastic demand curve, who would bear most of the burden of a tax on rubber bands?

a) Consumers b) Producers c) They would bear the burden more or less equally. d) We can't know who will bear most of the burden.

8-  Suppose the PA legislature imposes a per-unit tax on donuts. Fill in the following blanks with H (higher), L (lower), E (either higher or lower -- we can not be certain):

- Total revenue generated by the tax will be ..... in the short run than in the long run.

- Deadweight loss from the tax will be ..... in the short run than in the long run.

- An increase in the tax would make total tax revenue ..... than it was.

- An increase in the tax would make deadweight loss from the tax ..... than it was

9- Suppose I decide to quit my job and start my own business. Which of the following would contribute to my level of accounting profit? (Check all that apply)

a) Bonds cashed in to buy machinery.
b) Foregone interest on bonds cashed in to buy machinery.
c) The salary I would have earned had I not started my own business
d) Interest payments on a loan for a delivery truck.

10-  Suppose I decide to quit my job and start my own business. Which of the following would contribute to my level of economic profit? (Check all that apply)

a) Bonds cashed in to buy machinery.
b) Foregone interest on bonds cashed in to buy machinery.
c) The salary I would have earned had I not started my own business
d) Interest payments on a loan for a delivery truck.

[7] Household spending:

A) is based primarily on unearned income.

B) tends to fluctuate widely as the economy moves through the business cycle.

C) is larger than the combined spending of all U.S. businesses, government units, and foreign buyers.

D) all of these answers are correct.

[9] If the only spending in the economy were household spending based on earned income, and if households always spent all of their incomes, from one year to the next the level of economic activity would:

A) increase.

B) decrease.

C) not change.

D) change in no predictable way.

[10] Injections into the spending stream come from:

A) household earned income.

B) profits, rents, and interest, but not wages.

C) household earned income, transfer payments, and borrowing.

D) sources other than household earned income, and include transfer payments and borrowing.

[11] Which of the following is an injection into the spending stream?

A) Taxes paid to the government.

B) Spending from transfer payments.

C) Spending from household earned income.

D) All of these answers are correct.

[14] Holding all else equal, you would expect the level of economic activity to increase if household:

A) saving were less than taxes.

B) saving plus taxes were more than earned income.

C) saving plus taxes were less than spending from borrowed funds and transfer payments.

D) all of these answers are correct.

[15] Considering only the household sector, an economy will:

A) expand as spending from transfers and borrowing, and savings and taxes increase.

B) contract as spending from transfers and borrowing, and savings and taxes increase.

C) expand as spending from transfers and borrowing increases, and contract as savings and taxes increase.

D) contract as spending from transfers and borrowing increases, and expand as savings and taxes increase.

A researcher investigates the factors that are associated with the salaries of professors who teach courses at a major university. The researcher gathers data about the subject area and the salary per course for a random sample of professors. Data are found in the file Academic Salaries by Subject Area.

a) State the null and alternate hypothesis we would run to determine if the average salaries of the professors is the same across all subjcet areas.

b) Run the appropriate test in Excel and show output. What conclusions can you make?

c) Obtain boxplots for these data, each individual data NPP, and a NPP for all residuals.

d) Are the assumptions of an ANOVA reasonably satisfied? Explain & Discussion in reference to the plots.

e) If there is a difference in salaries run a Tukey’s test to show how the salaries for the different subject areas compare to each other. Describe what the results of the Tukey’s test tell you.

A wealthy Melbourne businessman donated $2 million to Monash University as a gift.

This he said was a recognition of his gratitude to the excellent tuition he received from the teaching staff in the Department of Accounting whilst studying as an undergraduate student back in the 1960’s.

In the light of the definition and recognition criteria contained in the Conceptual Framework would this gift be treated as income in the books of Monash University? Justify your answer.

An individual wanted to determine the relation that might exist between speed and miles per gallon of an automobile. Let X be the average speed of a car on the highway measured in miles per hour and let Y represent the miles per gallon of the automobile. The following data is collected: X 40 45 45 50 50 52 55 55 Y 28 26 25 22 20 20 17 15

a. In the space below, draw a scatterplot of the bivariate data set.

b. What is the value for r? Interpret this value, would you say that the correlation is positive or negative? Strong or Weak? How do you know?

c. From the regression equation given above, what value is the slope of the line? Interpret this slope, what does it tell us about the relationship between average speed and miles per gallon?

d. Predict the miles per gallon of a car traveling 61 miles per hour. e. Predict the average speed of a car whose fuel mileage is 25 miles per gallon. f. Find r squared. What does this statistic tell us about between average speed and miles per gallon?

An individual wanted to determine the relation that might exist between speed and miles per gallon of an automobile. Let X be the average speed of a car on the highway measured in miles per hour and let Y represent the miles per gallon of the automobile. The following data is collected:
X
50
55
55
60
60
62
65
65
Y
28
26
25
22
20
20
17
15
   •   In the space below, use technology to construct a scatterplot of the bivariate data set.




   •   What is the value for r? Interpret this value, would you say that the correlation is positive or negative? Strong or Weak? How do you know?



   •   From the regression equation given above, what value is the slope of the line? Interpret this slope, what does it tell us about the relationship between average speed and miles per gallon?

   •   Predict the miles per gallon of a car traveling 63 miles per hour.

   •   Predict the average speed of a car whose fuel mileage is 23 miles per gallon.


(f) Find r squared. What does this statistic tell us about between average speed and miles per gallon?


The development of a therapeutic relationship with a client is central to the clinical process founded both on the professional values and ethics of the social work profession.Explain the process and specific skills needed to developing a therapeutic relationship with a mandated client.