Question 2:

On September 30, 2017, the Radison Avenue Incorporated post-closing trial balance was as follows. The company adjusts its accounts monthly.

During October, the following transactions were completed:

Paid $2,300 to employees for salaries due, of which $1,800 is for September salaries payable and $500 for October

Issued common shares for $4,800

Received $11,200 cash from customers in payment of accounts

Received $12,700 cash for services performed in October Purchased supplies on account, $675

Paid creditors $3,200 of accounts payable due

Paid October rent, $550

Paid salaries, $2,150

Performed services on account, $3,200

Paid a cash dividend, $600

Received $1,350 from customers for services to be provided in the future

Adjustment data for the month:

1. Accrued salaries payable are $1,100

2. Unearned revenue of $850 was earned during the month

3. Income tax payable is estimated to be $600

Required:

In good format, and making whatever assumption you feel appropriate, prepare an accrual-based Income Statement and Statement of Financial Position (Balance Sheet) for the month ending October 2017.

Spicewood Stables, Inc., was established in Dripping Springs, Texas, on April 1. The company provides stables, care for animals, and grounds for riding and showing horses. You have been hired as the new assistant controller. The following transactions for April are provided for your review.

1. Received contributions from investors and issued $230,000 of common stock on April 1.
2. Acquired a barn for $180,000. On April 2, the company paid half the amount in cash and signed a three-year note payable for the balance.
3. Provided $18,000 in animal care services for customers on April 3, all on credit.
4. Rented stables to customers who cared for their own animals; received cash of $14,000 on April 4 for rent earned this month.
5. On April 5, received $3,350 cash from a customer to board her horse in May, June, and July (record as Deferred Revenue).
6. Purchased and received hay and feed supplies on account on April 6 for $3,800.
7. Paid $2,600 on accounts payable on April 7 for previous purchases.
8. Received $2,040 from customers on April 8 on accounts receivable.
9. On April 9, prepaid a two-year insurance policy for $4,800 for coverage starting in May.
10. On April 28, paid $1,140 in cash for water and utilities used this month.
11. Paid $14,800 in wages on April 29 for work done this month.
12. Received an electric utility bill on April 30 for $1,560 for usage in April; the bill will be paid next month.

Required:

1. 1. Prepare the journal entry for each of the above transactions.

2. 2. Post the transaction activity from requirement 1 to the T-Accounts below. All accounts begin with zero balances because this is the first month of operations.

3. 3. Prepare an unadjusted trial balance as of April 30.

4. 4-a. Refer to the revenues and expenses shown on the unadjusted trial balance. Based on this information, calculate preliminary net income and net profit margin.

5. 4-b. Determine whether the net profit margin is better or worse than the 30.0 percent earned by a close competitor.

Can you make t chart and trail balance sheet?

Overland Corporation is authorized to issue 250,000 shares of $1 par value common stock. During 2019, Overland Corporation took part in the following selected transactions

March 1 Issued 55,000 shares of stock for cash at $76 per share. Overland had to pay $27,000 of stock issue costs to issue these shares.

June 1 Overland issued 10,000 shares of stock in exchange for land that was appraised at $815,000. On that date, Overland’s stock was being actively traded on a national stock exchange for $78 per share.

August 1 Overland repurchased 5,000 shares of common stock at $74 per share. Overland will hold these shares as treasury stock. Overland uses the cost method to account for its treasury stock.

October 1 Overland reissued 2,000 shares of treasury stock at $77 per share

December 1 Overland reissued the remaining 3,000 shares of treasury stock at $71 per share.

Please note that this is a series of events, all of which occurred during 2019. They are not independent events.

Prepare dated journal entries to record each of these five events.

Verizon Wireless records as a measure of productivity the number of weekly cell phone activations each of its retail employees achieves. The data below show a sample of 25 employees, for each employee giving the number of activations in the sampled week, the number of years of experience on the job, the gender (0-Male; 1-Female), the employee performance rating on a scale of 1-100, and the employee's age.

(Please help me solve this with MS EXCEL)

a. Estimate the mean number of activations in a week for a 30 year old male employee who has 5 years of experience and a performance rating of 90.

b. interpret the coefficient for the Gender variable:

c. What are the null and alternate hypotheses that would be used to test if the model is significant overall. (Express symbolically if possible)

d. What is the p-value that would be used for the hypothesis test corresponding to the hypotheses in part c?

e. What are the null and alternate hypotheses that would be used to determine if age is significantly related to the number of activations? (Express symbolically if possible)

f. Determine if age is significantly related to number of activations. Use α = 0.05. Give complete conclusions.

A) A company that owns a large number of grocery stores claims that customers who pay by personal check spend an average of $87 with a standard deviation of $22. Assume the amount spent by these customers is normally distributed.

What is the probability that a customer using a check spends less than $90?

Express your answer as a decimal rounded to four places after the decimal point.

B)

A company that owns a large number of grocery stores claims that customers who pay by personal check spend an average of $87 with a standard deviation of $22. Assume the amount spent by these customers is normally distributed.

What is the probability that a customer using a check spends between $80 and $85?

Express your answer as a decimal rounded to four places after the decimal point.

C)

A company that owns a large number of grocery stores claims that customers who pay by personal check spend an average of $87 with a standard deviation of $22. Assume the amount spent by these customers is normally distributed.

The top 10% of customers using a check pay _____________ or more for groceries.

Round your answer to 2 decimal places.

D)

A company that owns a large number of grocery stores claims that customers who pay by personal check spend an average of $87 with a standard deviation of $22. Assume the amount spent by these customers is normally distributed.

The most frugal 20% of customers pay ___________ or less for groceries.

Round your answer to the nearest hundredth.

Review the case study provided below. In an APA-formatted Word document of at least 550 words, write an essay in which you answer the following four questions: 1. How would you describe the culture of Siemens before Kleinfeld's appointment as CEO? 2. Kleinfeld's leadership style was criticized as being “brash” and “American.” Is that a fair assessment? Why or why not? 3. Do you think the decision to “clean house” in the Siemens executive offices was the right one? Why or why not? 4. What challenges does Peter Löscher face in restoring the company's reputation?

Siemens' Commitment to “Clean Hands”

After CEO Klaus Kleinfeld put Siemens back on the road to recovery, a bribery scandal threatened to undo all the progress made. If things had turned out a little differently, Siemens CEO Klaus Kleinfeld might already be on his way to executive stardom, like his role model Jack Welch. Just two years after Kleinfeld took over the Munich electronics and engineering behemoth in January 2005, Siemens was on track to hit its aggressive internal earnings targets for the first time since 2000. In fact, it was expanding both sales and profits 168 faster than Welch's former domain, General Electric. The 2006 sales rose by 16 percent and profits by 35 percent, and the future was looking very positive.

Transforming Siemens was never going to be easy. With branches in 190 countries and over $100 billion in sales, the company has long been respected for its engineering expertise but criticized for its sluggishness. And Germany, with its long-standing tradition of labor harmony and powerful workers' councils, is highly resistant to the kind of change Kleinfeld tried to implement.

Against the odds, in just two years Kleinfeld had managed a major restructuring. He pushed Siemens' 475,000 employees to make decisions faster and focus as much on customers as on technology. He spun off underperforming telecommunications businesses and simplified the company's structure. When one group of managers failed to deliver, he broke up an entire division—at the end of 2005, it became clear that the Logistics & Assembly Systems Division, which made products such as sorting equipment used by the U.S. Postal Service, would deliver only a 2 percent profit margin. Most unpardonable in Kleinfeld's eyes was that the unit's managers waited too long to alert him to the problem. So Kleinfeld transferred the most profitable parts of the division, such as baggage-handling systems for airports, to other parts of Siemens. The rest was sold. Within weeks, an entire Siemens division with $1.9 billion in annual sales was vaporized.

Such aggressive tactics would inevitably lead to criticism of Kleinfeld's “American” style of leadership, but his eventual departure from Siemens (he is now CEO of aluminum giant Alcoa) came not, as many suspected, as a result of secret boardroom maneuvers. It came as a result of a need for a fresh start for the company after a scandal over bribery and corruption practices by senior managers to the tune of an estimated $2.5 billion.

In December 2008, Siemens announced that it would pay fines and other penalties totaling $800 million after pleading guilty in U.S. federal court to violations of the Foreign Corrupt Practices Act. The company also agreed to pay $540 million to German authorities in addition to a $274 million fine already levied for evidence of systematic bribery and corruption, including the use of airline tickets that could be exchanged

for cash, which executives in Siemens' medical division used to bribe clients in contract negotiations. Kleinfeld's eventual departure from Siemens came not, as many suspected, as a result of secret boardroom maneuvers, but as a result of a need for a fresh start for the company after a scandal over bribery and corruption practices by senior managers to the tune of an estimated $2.5 billion.

Thanks to full cooperation and transparency in the investigation, in addition to a multibillion-dollar internal investigation in which Siemens provided most of the evidence for its own prosecution, the company did not receive a ban from competing for future government contracts. However, having clearly demonstrated that much of its commercial prowess was achieved through a willingness to “grease the appropriate

palms” to win large government contracts from Nigeria to Norway, Siemens faced the challenge of rebuilding its reputation and proving that it can win business honestly (with “clean hands”)—even when competitors may continue to acquiesce to demands for bribes in order to win contracts.

The responsibility for rebuilding the company's reputation fell to Peter Löscher, as a designated (and untainted) outsider who previously headed divisions at GE (Siemens' greatest rival) to draw a line under the scandal and start a new era for the company. One of his first acts was to declare an amnesty for all 169 managers to come forward and share what they knew about the bribery practices—110 managers came forward and provided multiple new leads to internal and external investigators.

With Löscher's arrival and the need to wipe the slate clean, there was a dramatic housecleaning in the executive offices in addition to a cosmetic restructuring of the organization into three main divisions: industry, energy, and health care. It remains to be seen whether the restructuring is designed to improve operational efficiency or to make units more attractive to potential buyers.

the question is matching

1-Whether a supplier or an entity is responsible for providing the product or service desired by the customer is a strong indicator of the entity’s role in the transaction. If an entity is responsible for fulfillment, including the acceptability of the products or services ordered or purchased by the customer, that fact is

2-Unmitigated general inventory risk is a strong indicator that an entity

3-A similar and equally strong indicator of gross reporting exists if a customer arrangement involves services and

4-If an entity physically changes the product (beyond its packaging) or performs part of the service ordered by a customer, that fact may indicate that the entity

5-If an entity must determine the nature, type, characteristics, or specifications of the product or service ordered by the customer, that fact may indicate that the entity

6-If an entity earns a fixed dollar amount per customer transaction regardless of the amount billed to a customer or if it earns a stated percentage of the amount billed to a customer, that fact may indicate that the entity

7-According to ASU 2014-09, Revenue From Contracts With Customers, … outlines a single comprehensive model for entities to use in accounting for revenue arising from contracts with customers and

(Choose the best )

The Kay company currently uses FIFO for inventory valuation. Their records for year ended June 30,2007 reflected:

July 1, 2006 inv 100,000 units at $7.50

Purchases during the year 400,000 units at 8.00

Sales during the year 350,000 units at $15

Expenses exclusive of income tax 1,290,000

cash balance on June 30,2006 250,000

income tax rate: 45%

The use of the LIFO method will result in an approximate tax expense for fiscal 2007 of:

Which is a primary limitation of the audit risk model?

Which of the following statements is most correct concerning the reason(s) that U.S. corporations desire and are willing to pay for independent audits of their financial statements?

CPA firms must register with the PCAOB if they wish to perform independent audits of

Which of the following organizations grants a license to practice as a CPA?

Management of a publicly held organization subject to the SEC has the responsibility for all of the following except:

The primary assertion that is satisfied by physically observing the client's count of inventory is

The control environment includes all of the following except