Appliance Center sells a variety of electronic equipment and home appliances. For the last 4 years, 2010 through 2013, the following quarterly sales (in $ millions) were reported.

Prior to the 2010 Dodd-Frank Act, banks employed proprietary traders (aka Prop Traders) whose job was to invest the Bank’s capital in various short-term trading strategies. Prop Traders often took large risks (using leverage) and were rewarded with yearly bonuses worth millions of dollars. Prop Trading was eventually disallowed by the 2010 Dodd-Frank Act.

Explain the moral hazard associated with such proprietary trading activity

Doug purchases a 25% interest in the Hay Partnership for $20,000 on January 1, 2010, and begins to materially participate in the partnership's business. The Hay Partnership uses the calendar year as its tax year. At the time of the purchase, the Hay Partnership has $2,000 in liabilities, and Doug's share is 25%. During the year, the Hay Partnership incurs $100,000 in losses and its liabilities increase by $4000. What is Doug's basis in his partnership interest on December 31, 2010?

Over the past seven weeks, we have explored different decades of US history and applied principles of macroeconomics to their outcomes. Take this time to share what you have learned with your classmates. In your initial post, respond to the following:

Choose one macroeconomic concept you applied in your final project of the years 2000-2010. Explain how it helps describe the economic outcomes of the decade you researched during 2000-2010.

Over the past seven weeks, we have explored different decades of US history and applied principles of macroeconomics to their outcomes. Take this time to share what you have learned with your classmates. In your initial post, respond to the following:

Choose one macroeconomic concept you applied in your final project of the years 2000-2010. Explain how it helps describe the economic outcomes of the decade you researched during 2000-2010.

French Bread Chocolates developed the following quarterly sales forecasting model:

Sales = 8.50 + 0.150 TIME - 2.70 Q1 + 1.20 Q2 + 3.5 Q3

where TIME is time period. (time is zero in the fourth quarter of 2009, time is 1 in the first quarter of 2010 and 2 in the second quarter of 2010 etc.) and Q1, Q2, and Q3 are quarterly dummy variables.

Forecast French Broad Chocolate's sales for each quarter of 2022.

Roman Company had the following stockholders’ equity as of January 1, 2010.

Common Stock, $2 par value, 50,000 shares issued               $100,000

Paid-in capital in excess of par                                               $300,000

Paid-in capital Treasury Stock                                                 $   1,000

Retained earnings                                                                   $319,000

Total stockholder’s equity                                         $720,000

During 2010, the following transactions occurred:

Jan 31        Roman issued 5,000 shares of common stock at $10 per share.

Feb 25       Roman repurchased 1,900 shares of treasury stock at a price of $18 per share.

Mar 2         1,200 shares of treasury stock repurchased above were reissued at $16 per share.

Apr 22       500 shares of treasury stock repurchased above were reissued at $25 per share.

Apr 24       A 5% stock dividend was declared (the market price of the stock was $14)

Apr 25       The 5% stock dividend was distributed ( market price of the stock was still $14)

Required:

Prepare the journal entries to record the stock transactions in 2010, assuming Roman uses the cost method to account for treasury stock.                                        

How many shares of common stock were outstanding as of April 30, 2010?

1. PLEASE ANSWER AT LEAST ONE OF THE FOLLOWING PROBLEMS

Installment sales.

Sawyer Furniture Company concluded its first year of operations in which it made sales of $800,000, all on installment. Collections during the year from down payments and installments totaled $300,000. Purchases for the year totaled $400,000; the cost of merchandise on hand at the end of the year was $80,000.

Instructions

Using the installment-sales method, make summary entries to record:

(a)   the installment sales and cash collections;

(b)   the cost of installment sales;

(c)   the unrealized gross profit;

(d)   the realized gross profit.

2. PLEASE ANSWER AT LEAST ONE OF THE FOLLOWING PROBLEMS

Percentage-of-completion method.

Penner Builders contracted to build a high-rise for $14,000,000. Construction began in 2010 and is expected to be completed in 2013. Data for 2010 and 2011 are:

                                                                                                     2010                2011

            Costs incurred to date                                                $1,800,000      $5,200,000

            Estimated costs to complete                                        7,200,000        4,800,000

Penner uses the percentage-of-completion method.

Instructions

(a)   How much gross profit should be reported for 2010? Show your computation.

(b)   How much gross profit should be reported for 2011?

(c)   Make the journal entry to record the revenue and gross profit for 2011.

Country A has a population of ?(?) = 75(0.83) ? where t is the number of years after 2000 and ?(?) is the population of country A in millions of people. Country B has a population of ?(?) = 20(1.2) ? where t is the number of years after 2000 and ?(?) is the population of country B in millions of people. (a) Graph both functions on the same axis for the years 2000 through 2010. (b) What was the population of each country in 2000? (c) Write complete sentences to describe exactly how the population of each country is changing. (d) Graphically find A(2) and B(2). Then write a sentence that interprets the real world meaning of what you have found. (e) Graphically solve A(t)=60 and B(t)=60. Then write a sentence that interprets the real world meaning of what you have found. (f) Graphically solve A(t)=B(t). Then write a sentence that interprets the real world meaning of what you have found.

1.) Vibrio cholerae is a Gram-negative, curved-shaped bacterial pathogen which causes nausea, vomiting, diarrhea and muscle cramps after consuming fecal contaminated water. Cholera killed thousands of people during the 1800’s as people traveled West to colonize the United States and more recently in Haiti after a devastating earthquake in 2010. Vibrio’s ability to cause potentially deadly diarrhea is due to a toxin it secretes called Cholera Toxin (CT). Vibrio is thought to have gained the gene which codes for CT from a bacteriophage.

A.) Which form of horizontal gene transfer (conjugation, transduction OR transformation) allowed Vibrio to produce the cholera toxin? (1p)

B.) Briefly describe the steps involved during this particular form of horizontal gene transfer. (2pts)

C.) Research and briefly explain how the rapid dipstick test works for identification of V. cholerae. Is it biochemical, immunological or genetic identification? (2pts)