1.The revenue recognition standard, Revenue from Contracts with Customers, states a specific approach should be used by companies to recognize revenue. The standard:

a.Requires an asset-liability approach because an asset or a liability may stem from the terms of the contract and measuring the change in the asset or liability over the life of the contract results in a disciplined approach to measuring and recognizing revenue.

b.Requires an earned-realized approach because the contract will result in revenue being earned and the collection of payment from the customer will result in the realization of the earned revenue.

c.Requires companies to recognize revenue by using a liability-equity approach because a contract results in a company’s promise to perform a service and the company reports that promise as a liability until the service is completed. Further, a company’s equity is increased because net income is closed to retained earnings.

d.Requires companies to recognize revenue by using an asset-equity approach because revenue typically results in an increase in assets through the collection of cash or recognition of accounts receivable and an increase in equity through the closing of net income to retained earnings.

2. Which type of transaction generally results in revenue being recognized with the passage of time?

3. Mars Corporation uses the percentage-of-completion method. At the end of the first year of a $9,000,000 contract, the following information is available:

In the first year, Mars should recognize gross profit of

4. Mars Corporation uses the completed-contract method. At the end of the first year of a $9,000,000 contract, the following information is available:

In the first year, Mars should recognize gross profit of

5. At the end of the first year of a $9,000,000 contract, Mars Corporation provides the following information:

In the first year, Mars should recognize gross profit (loss) of

15 18 19 22 23 24 27 28 28 29 29 30 30 33 33 34 35 38 38 40
41 41 45 45 45 48 48 49 49 49 51 51 51 52 52 53 54 54 56 56
56 59 59 59 59 60 60 60 61 61 61 63 63 64 66 66 66 67 69 69
70 73 74 74 74 75 75 75 75 76 76 79 82 84 87 87 88 90 95 100

Calculate:

a. Series, Sturges
b. Frequency distribution table.
d. Central Tendency Measures. (Mean, median, mode) and Position measurements. (quartile 1, decile 8 and percentile 85).

please asnwer all parts of question 5

Question 5:                         Use Data5 Sheet             

                                This sheet reports monthly value of SP500 index and prices of 5 stocks.

                                REMEMBER to check the timeline order.

                Based on the whole data, create a table reporting the average monthly Return and Total Risk for each of the following stocks:

                Put both Risk and Return in percentage format (say 12.56%)

                (For Total Risk, you use the Standard Deviation based on a Sample – STDEV.S)

                Return=Price(t)/Price(t-1)-1

5a.          Report ticker of the stock with the highest average monthly return

5b.          Report ticker of the stock with the highest total risk

5c.          If you can only invest in 01 stock for only 1 month, which stock and which yearmonth will you choose to maximize your return.

                                Put in the answer sheet that the ticker (in Cap) and year month continuously, say MGM200103.

A water molecule is placed in the xy plane of a coordinate system with oxygen in origin, such that each H atom has the same distance to the x-axis. The distance between oxygen and hydrogen is 0.958 Å and the angle between the three atoms is 104.48. The three atoms are considered point masses and the molecule is assumed to be a rigid body. The mass of hydrogen is 1.674*10^-27 kg, the mass of oxygen is 2.657*10^-26 kg, the mass of deuterium is 3.344*10^-27

1. Calculate the moment of inertia with respect to the three coordinate axes for H2O. Repeat the calculation for D2O that has the same geometry.
2. Find the mass center of the H2O molecule.
3. What will be the inertia moment of the H2O molecule for rotation about an axis through the mass center and parallel to the z axis? Repeat for the two axes parallel to x and y and through the center of mass.

The 2019 financial reporting season saw many Australian companies issue their first annual reports applying the new revenue standard, IFRS/AASB 15 Revenue from contracts with customers. The objective of the new standard was to provide greater clarity and better disclosure of a company’s revenue, as well as more consistency between companies.

Required

Write the impact of applying AASB 15 with reference to the Qantas Group’s 2019 Financial Report.

1. Outline the key changes under the AASB 15, with reference to the Qantas Group Annual Report and AASB 15

Describe the state of the U.S. Economy for the years between 2006 and now in terms of macroeconomic measures discussed in the course (GDP, unemployment, and inflation rates).

Microsoft historically followed the practice of recognizing 25% of revenue from its Windows software over three or four years as it promises future upgrades and addons. With the launch of Vista in 2008, it changed the policy to record most of the revenue in the period in which the software was sold. In the third quarter for fiscal year 2008, Microsoft reported an increase in earnings of 65%. The increase came from sales of the new Vista program and also from the acceleration in revenue recognition.

Critically evaluate the revenue recognition policy adopted by Microsoft in accordance with AASB15 Revenue from Contracts with Customers.

2) Explain the decision of management to change the revenue recognition policy in terms of the debt hypothesis of Positive Accounting Theory.

500 words max

Trading volume on the New York Stock Exchange is heaviest during the first half hour (early morning) and last half hour (late afternoon) of the trading day. The early morning trading volumes (millions of shares) for 17 days in January and February are shown here (Barron's, January 23, 2006; February 13, 2006; and February 27, 2006)

a. Compute the mean and standard deviation to use as estimates of the population mean and standard deviation

b. What is the probability that, on a randomly selected day, the early morning trading volume will be less than 195 million shares?

c. What is the probability that, on a randomly selected day, the early morning trading volume will exceed 230 million shares?

d. How many shares would have to be traded for the early morning trading volume on a particular day to be among the busiest 5% of days?

**For B, C, D you show the bell curves in addition to the written work**

Firm X has a new promotional program that offers a free gift-wrapping service for its customers. Its customer-service department has practical capacity to wrap 5,000 gifts at a budgeted fixed cost of $4,950 each month. The budgeted variable cost to gift-wrap an item is $0.35. During September 2020, the department budgeted to wrap 4,500 gifts. Although the service is free to customers, a gift-wrapping service cost allocation is made to the department where the item was purchased. The customer-service department reported the following for the month:

(27-1) Using the single-rate method, allocate gift-wrapping costs to different departments in these three ways (7 points):

  (27-1-a). Calculate the budgeted rate based on the budgeted number of gifts to be wrapped and allocate costs based on the budgeted use (of gift-wrapping services).

    (27-1-b). Calculate the budgeted rate based on the budgeted number of gifts to be wrapped and allocate costs based on actual usage.

    (27-1-c). Calculate the budgeted rate based on the practical gift-wrapping capacity available and allocate costs based on actual usage

(27-2) Using the dual-rate method, compute the amount allocated to each department and the budgeted rate is based on capacity. (3 points)

(27-3) Comment on your results in (26.1) and (26.2). Discuss the differences, advantages, and disadvantages of the single-rate method and dual-rate method. (6 points)