Cicchetti Corporation uses customers served as its measure of activity. The following report compares the planning budget to the actual operating results for the month of December:

Required:

Prepare the company's flexible budget performance report for December. Select each variance as favorable (F), unfavorable (U) or "None".

I would need a cash flow statement ONLY for the period ending December 31 2012 PLEASE!

Thanks

Income Statements

(1) Should be 15, 13 is due to the cumulative rounding

Balance Sheets (year end)

I would need a cash flow statement ONLY for the period ending December 31 2013 PLEASE!

thanks

Income Statements

(1) Should be 15, 13 is due to the cumulative rounding

Balance Sheets (year end)

I would need a cash flow statement ONLY for the period ending December 31 2011 PLEASE!

And how many CF statements can I do with the below information? Thank you

Income Statements

(1) Should be 15, 13 is due to the cumulative rounding

Balance Sheets (year end)

I would need a cash flow statement ONLY for the period ending December 31 2010 PLEASE!

Income Statements

(1) Should be 15, 13 is due to the cumulative rounding

Balance Sheets (year end)

Acquisition costs; journal entries

Consider each of the transactions below. All of the expenditures were made in cash.

1. The Edison Company spent $12,000 during the year for experimental purposes in connection with the development of a new product.

2. In April, the Marshall Company lost a patent infringement suit and paid the plaintiff $7,500.

3. In March, the Cleanway Laundromat bought equipment. Cleanway paid $6,000 down and signed a noninterest-bearing note requiring the payment of $18,000 in nine months. The cash price for this equipment was $23,000.

4. On June 1, the Jamsen Corporation installed a sprinkler system throughout the building at a cost of $28,000.

5. The Mayer Company, plaintiff, paid $12,000 in legal fees in November, in connection with a successful infringement suit on its patent.

6. The Johnson Company traded its old machine with an original cost of $7,400 and a book value of $3,000 plus cash of $8,000 for a new one that had a fair value of $10,000. The exchange has commercial substance.

Required:

Prepare journal entries to record each of the above transactions.

A barber charges $12 per haircut and works Saturday through Thursday. He can perform up to 20 haircuts a day. He currently performs an average of 12 haircuts per day during the weekdays (Monday through Thursday). On Saturdays and Sundays, he does 20 haircuts per day and turns 10 potential customers away each day. These customers all go to the competition. The barber is considering raising his prices on weekends. He estimates that for every $1 he raises his price, he will lose an additional 10% of his customer base (including his turnaways). He estimates that 20% of his remaining weekend customers would move to a weekday in order to save $1, 40% would move to a weekday in order to save $2, and 60% would move to a weekday in order to save $3. Assuming he needs to price in increments of $1, should he charge a differential weekend price? If so, what should the weekend price be? (Assume he continues to charge $12 on weekdays.) How much revenue (if any) would he gain from his policy?

Solve using Excel

Part 1: Using the company profile below, identify TWO material misstatement risks- either at the entity-level (i.e. risk of material misstatement at the overall financial statement level) or account assertion level. For each account or entity-level risk identified, briefly describe why it qualifies as risky.

Part 2: Using the comparative financial information given in the next tab, identify THREE specific account-related misstatement risks. For each risk, briefly describe why it qualifies as a risk and the related accounts and assertions that potentially may be violated.

Company Profile: Your audit firm has been engaged to issue an opinion on the financial statements of CNX Corporation which sells and leases office equipment. Initially, CNX focused on selling and leasing copiers but CNX is finding that its customers, as is the general trend, are becoming increasingly paperless and adopting cloud computing as opposed to maintaining their own servers. This change in the business environment has hurt CNX’s sales of copiers, printers, and computer servers, and CNX is feeling the need to shift to selling cloud computing solutions on a subscription basis to better serve its customers. CNX's revenue has been declining over the past 3 years, but this was the first year that CNX experienced a net loss. In response, the CEO Darren Paul, issued a press release stating, “Our repositioning will necessarily require some additional expenses in the initial years, but we are confident that it will set the stage for CNX to exploit the explosive growth in cloud computing solutions." CNX benefits from its long established relationships with its exisiting customers, giving it an advantage over other companies in the same industry; however, cloud-based software companies are increasingly establishing their own sales forces to sell directly to customers. CNX has a reputation for being a good corporate citizen, and the CEO and CFO serve on the boards of major charities. CNX has had the same accounting team in place for the past ten years and has lower than average employee turnover throughout its ranks. This is your firm's eighth audit of CNX. There have been no disagreements over accounting issues in any of the previous audits.

2. The data in BUSI1013 Credit Card Balance.xlsx is collected for building a regression model to predict credit card balance of retail banking customers in a Canadian bank. Use this data to perform a simple regression analysis between Account balance and Income (in thousands). (12 points)
   
   1. Develop a scatter diagram using Account Balance as the dependent variable y and Income as the independent variable x.
   2. Develop the estimated regression equation.
   3. Use the estimated regression equation to predict the Account Balance of a customer with Income of $58 thousands.
   4. Use the critical-value approach to perform an F test for the significance of the linear relationship between account balance and Income at the 0.05 level of significance.
   5. What percentage of the variability of Account Balance can be explained by its linear relationship with Income?
   6. Use the p-value approach to perform a t test for the significance of the linear relationship between Account Balance and Income at the 0.05 level of significance.

1. The data in BUSI1013 Credit Card Balance.xlsx is collected for building a regression model to predict credit card balance of retail banking customers in a Canadian bank. Use this data to perform a simple regression analysis between Account balance and Income (in thousands). (12 points)
2. Develop a scatter diagram using Account Balance as the dependent variable y and Income as the independent variable x.
3. Develop the estimated regression equation.
4. Use the estimated regression equation to predict the Account Balance of a customer with Income of $58 thousands.
5. Use the critical-value approach to perform an F test for the significance of the linear relationship between account balance and Income at the 0.05 level of significance.
6. What percentage of the variability of Account Balance can be explained by its linear relationship with Income?
7. Use the p-value approach to perform a t test for the significance of the linear relationship between Account Balance and Income at the 0.05 level of significance.