RanTech had credit sales of $100,000 in the year 2010 which required use of the installment method. RanTech's cost of merchandise sold was $60,000 (RanTech uses the perpetual inventory system). RanTech collected cash related to the installment sales of $35,000 in 2010 and $30,000 in 2011.

(In your calculations, ignore interest charges. Enter an appropriate description when entering the transactions in the journal. Dates must be entered in the format dd/mmm (ie. January 1 would be 01/Jan)).

Instructions are below:

1) Provide journal entries related to the installment sales for 2010. (Assume all transactions occur on December 31. Please make sure your final answer(s) are accurate to 2 decimal places.)

2) Give journal entries related to installment sales for 2011. (Assume all transactions occur on December 31. Please make sure your final answer(s) are accurate to 2 decimal places.)

3) What is the ending 2010 balance in the following accounts? (Please make sure your final answer(s) are accurate to the nearest whole number.)

i. Installment accounts receivables

ii. Sales

iii. Cost of goods sold

iv. Deferred gross profit on installment sales

(Thank you for your help. Please try to show your work to help me learn the concepts)

XYZ stock price and dividend history are as follows: Year Beginning-of-Year Price Dividend Paid at Year-End 2010 $ 140 $ 4 2011 $ 159 $ 4 2012 $ 132 $ 4 2013 $ 137 $ 4 An investor buys five shares of XYZ at the beginning of 2010, buys another three shares at the beginning of 2011, sells one share at the beginning of 2012, and sells all seven remaining shares at the beginning of 2013. a. What are the arithmetic and geometric average time-weighted rates of return for the investor? (Do not round intermediate calculations. Round your answers to 2 decimal places.) Arithmetic mean 2.93 % Geometric mean 2.08 % b-1. Prepare a chart of cash flows for the four dates corresponding to the turns of the year for January 1, 2010, to January 1, 2013. (Negative amounts should be indicated by a minus sign.) Date Cash Flow 1/1/2010 $ -700 1/1/2011 -457 1/1/2012 164 1/1/2013 987 b-2. What is the dollar-weighted rate of return? (Hint: If your calculator cannot calculate internal rate of return, you will have to use a spreadsheet or trial and error.) (Negative value should be indicated by a minus sign. Round your answer to 4 decimal places.) Rate of return %

Annual and Average Returns for Stocks, Bonds, and T-Bills, 1950 to 2015.

You have a portfolio with an asset allocation of 58 percent stocks, 30 percent long-term Treasury bonds, and 12 percent T-bills. Use these weights and the returns given in the above table to compute the return of the portfolio in the year 2010 and each year since. Then compute the average annual return and standard deviation of the portfolio. (Do not round intermediate calculations. Round your answers to 2 decimal places.)

1. In 1980 France had a GDP of $325 billion francs and a population of 11.78 million. In 1980 the exchange rate was 1 US dollar was equal to 1.67 francs. In 2010, France had a GDP of $435 billion euros and a population of 21.75 million. In 2010 0.8 euros was equal to 1 US Dollar. The GDP deflator was 51 in 1980 and 125 in 2010. By what percentage did France’s Real GDP per capita rise between 1980 and 2010 in U.S. dollars
2. Identify the most commonly cited measure of inflation in the United States and explain how it is calculated. Identify and briefly discuss the some of the problems that statisticians have paid considerable attention to in recent years (your answer needs to be thorough).
3. Describe the relationship between inflation levels in prices and inflation levels for prices, wages and interest rates with respect to their ability to affect people's economic status and business outcomes (again, here be thorough and explain what happens when wages, etc. does and does not keep up with inflation).
4. Explain the differences and similarities between the GDP deflator and the CPI. Be thorough in your answer and write in complete sentences.
5. What is Hyperinflation and what are some reasons it may occur and persist? What is deflation, when does deflation usually occur, and is deflation a good or bad thing? Give examples of when each scenario happened in history as well. Again, be thorough in your answer.

Ice cream and coins. This problem tests your understanding of the multiplication rule. Round these answers to 5 decimal places.
The Acme Company manufactures widgets. The distribution of widget weights is bell-shaped. The widget weights have a mean of 65 ounces and a standard deviation of 11 ounces.

Use the Empirical Rule, also known as the 68-95-99.7 Rule. Do not use Tables or Technology to avoid rounding errors.

Suggestion: sketch the distribution in order to answer these questions.

The following data give the average price received by fishermen for several species of fish in 2000 and 2010. The price is in cents per pound.

1. Create a regression equation for the data.
   
   ˆy=y^= Round to 2 decimal places.
   
2. What is the correlation coefficient between the 2000 and 2010 prices.
   
   Round to 2 decimal places.
   
3. If a type of fish was 41.3 cents per pound in 2000, how much would you expect to pay for it in 2010?
   
   ¢/lbs Round to 1 decimal places.

Consider the market for onions in India during a two month period (Dec 2010 - Jan 2011). The average price was running around Rs 30 in the first week of Dec 2010 and shot to above Rs 50 by the fourth week of December. The average price level usually hovers around Rs 15. ​Consider that the events were such that both the demand and the supply of onion in India were affected during the two-month period.

Supply Side -India largest producer of onions and government had been supporting aggressive export policies -Highly perishable and lack proper storage facilities (most farmers bring onions to market and unload entire stock within a month of harvest) -Crop is susceptible to disease and pests which can ruin the crop (fungal disease impacted the crop in 2010) -Crop is sensitive to weather (extended monsoon in 2010)

Demand Side -Consumers use onions daily regardless of income -Not many close substitutes and considered to be almost an essential item -Population growing -December-January is when people get married in India as well as seasonal celebrations increasing demand for onions and families stocking up in anticipation

What possible general combination(s) of changes in demand and supply would necessarily lead to an increase in the price of onions? Support your discussion by stating the average price during the two-month period.

During 2010, Al, his daughter and son (both adults), and his grandchild Candy, the minor child of his daughter, all resided in Al’s home.

Al’s son filed his 2010 Federal income tax return on February 28, 2011. On that return, the son claimed a personal exemption deduction for himself. He also claimed $1,129 in refundable tax credits and $75 withheld tax, resulting in a refund of $1,204.

Al’s daughter also filed her 2010 Federal income tax return on February 28, 2011. She reported gross income of $11,892 and claimed a personal exemption deduction for herself and a dependent exemption deduction for Candy(her daughter and Al’s granddaughter). The daughter also claimed $4,450 in refundable credits and $840 withheld tax, resulting in a refund of $5,290.

Al applied for and was granted an extension of time to file his 2010 return (due April 15, 2011) which he timely filed on May 23, 2011. On his tax return, Al:

claimed head of household filing status

claimed dependency exemption deductions for his son, his daughter, and his granddaughter (Candy).

Questions

What are the requirements for claiming dependent(s)

Explain whether Al met the requirements to the claim the 3 depends (Daughter, son & granddaughter) on his tax return

Is the head of household filing status claimed by Al appropriate? Explain

1-Which of the following would cause a deficiency in vitamin d?

Simvastatin

Niacin

Cloofibrate

Cholestyramine

Ezetimibe

2-Which time of the day should rosuvastatin be taken?

After the largest meal of the day

It does not matter

First thing in the morning, 2 hours before any food

At night or before sleep

A performs bookkeeping and tax- reporting services to startup companies. On January 1, 2018, A entered into a 3-year service contract with B. B promises to pay $9,000 at the beginning of each year, which at contract inception is the stand-alone selling price for these services. At the end of the second year, the contract is modified and the fee for the third year of services is reduced to $8,000. In addition, B agrees to pay an additional $22,000 at the beginning of the third year to cover the contract for 3 additional years (i.e., 4 years remain after the modification). The extended contract services are similar to those provided in the first 2 years of the contract.

1. Prepare the journal entries for the A in 2018 related to this service contract. (1) on January 1, 2018 and (2) on December 31, 2018

2. Prepare the journal entries for B in 2020 related to the modified service contract, assuming the addition of the service is not a separate contract. (1) on January 1, 2020 and (2) on December 31, 2020.

3. Assuming A and B agree on a revised set of services (fewer bookkeeping services but more tax services) in the extended contract period and the modification results in a separate performance obligation, (1) prepare the journal entry on December 31, 2020. (2) What are required to treat the modification as a separate contract.

In June 1, 2020, Jill Bow and Aisha Adams formed a partnership to open a gluten-free commercial bakery, contributing $297,000 cash and $394,000 of equipment, respectively. The partnership also assumed responsibility for a $57,000 note payable associated with the equipment. The partners agreed to share profits as follows: Bow is to receive an annual salary allowance of $167,000, both are to receive an annual interest allowance of 10% of their original capital investments, and any remaining profit or loss is to be shared 40/60 (to Bow and Adams, respectively). On November 20, 2020, Adams withdrew cash of $117,000. At year-end, May 31, 2021, the Income Summary account had a credit balance of $550,000. On June 1, 2021, Peter Williams invested $137,000 and was admitted to the partnership for a 20% interest in equity. Required: 1. Prepare journal entries for the following dates.

Required: 1. Prepare journal entries for the following dates.

a. June 1, 2020 Record the formation of partnership

b. November 20, 2020 Record the withdrawal by partner

c. May 31, 2021 Record the closing of profit to capital.

d. June 1, 2021 Record the admission of Williams for a 20% interest.

2. Calculate the balance in each partner’s capital account immediately after the June 1, 2021, entry.