you decide to open an individual retirement account (IRA) at your local bank that pays 11%/year/year. At the end of each of the next 40 years, you will deposit $2,500 per year into the account (40 total deposits). 3 years after the last deposit, you will begin making annual withdrawals. If you want the account to last 30 years (30 withdrawals), what amount will you be able to withdraw each year? $
In: Finance
1.
Use the year/subway fare data shown below. Let x represent the year, with 1960 coded as 1, 1973 coded as 14, and so on. Let y represent the subway fare. Does the best model appear to be a good model? Why or why not? Using the best model, find the projected subway fare in the year
20102010.
|
Year |
1960 |
1973 |
1986 |
1995 |
2002 |
2003 |
|
|
Subway Fare |
0.100.10 |
0.300.30 |
0.950.95 |
1.301.30 |
1.501.50 |
2.002.00 |
Does the best model appear to be a good model? Why or why not?
The best model is the ____ which does not appear
to be a good model because its coefficient of determination is R2 equals=
2
The data show systolic and diastolic blood pressure of certain people. Find the regression equation, letting the first variable be the independent (x) variable. Find the best predicted diastolic pressure for a person with a systolic reading of
113113.
Use a significance level of 0.05.
|
Systolic |
150150 |
129129 |
142142 |
112112 |
134134 |
122122 |
126126 |
120120 |
|
|
Diastolic |
8888 |
9696 |
106106 |
8080 |
9898 |
6363 |
9595 |
6464 |
LOADING...
Click the icon to view the critical values of the Pearson correlation coefficient r.
What is the regression equation?
3.
isted below are the budgets (in millions of dollars) and the gross receipts (in millions of dollars) for randomly selected movies. Answer parts
a-c.
|
Budget (x) |
6060 |
9292 |
5353 |
3535 |
191191 |
9595 |
8787 |
|
|
Gross (y) |
6161 |
6464 |
4646 |
5252 |
545545 |
150150 |
4646 |
Click here to view a table of critical values for the correlation coefficient.
LOADING...
a. Find the value of the linear correlation coefficient r.
r= __________
(Round to three decimal places as needed.)
In: Statistics and Probability
Great Wall Pizzeria issued 14-year bonds one year ago at a coupon rate of 5.6 percent. If the YTM on these bonds is 8.4 percent, what is the current bond price? Note: Corporate bonds pay coupons twice a year
In: Finance
On January 1, Year 1, Luzak Company issued a $120,000, five-year, 6% installment note to McGee Bank. The note requires annual payments of $28,488, beginning on December 31, Year 1.
Journalize the entries to record the following transactions. Refer to the Chart of Accounts for exact wording of account titles.
| Year 1 | ||
| Jan. | 1 | Issued the note for cash at its face amount. |
| Dec. | 31 | Paid the annual payment on the note, which consisted of interest of $7,200 and principal of $21,288. |
| Year 4 | ||
| Dec. | 31 | Paid the annual payment on the note, including $3,134 of interest. The remainder of the payment reduced the principal balance on the note. |
none
X
Chart of Accounts
| CHART OF ACCOUNTS | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Luzak Company | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| General Ledger | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
none
X
Journal
Journalize the entries to record the transactions. Refer to the Chart of Accounts for exact wording of account titles.
PAGE 10
JOURNAL
ACCOUNTING EQUATION
| DATE | DESCRIPTION | POST. REF. | DEBIT | CREDIT | ASSETS | LIABILITIES | EQUITY | |
|---|---|---|---|---|---|---|---|---|
|
1 |
||||||||
|
2 |
||||||||
|
3 |
||||||||
|
4 |
||||||||
|
5 |
||||||||
|
6 |
||||||||
|
7 |
||||||||
|
8 |
Solution
| DATE | DESCRIPTION | POST. REF. | DEBIT | CREDIT | ASSETS | LIABILITIES | EQUITY | |
|---|---|---|---|---|---|---|---|---|
|
1 |
||||||||
|
2 |
||||||||
|
3 |
||||||||
|
4 |
||||||||
|
5 |
||||||||
|
6 |
||||||||
|
7 |
||||||||
|
8 |
Points:
Feedback
Check My Work
Explanation
none
×
Select Panels for Tile View
The tile view can hold up to three panels at once. Choose which panels you want to see.
One or more positions have the same panel selected. Check your selections and try again.
| Not loaded | |
Don't worry, all of your changes will be saved.
CancelOK
In: Accounting
Forten Company, a merchandiser, recently completed its calendar-year 2017 operations. For the year, (1) all sales are credit sales, (2) all credits to Accounts Receivable reflect cash receipts from customers, (3) all purchases of inventory are on credit, (4) all debits to Accounts Payable reflect cash payments for inventory, and (5) Other Expenses are paid in advance and are initially debited to Prepaid Expenses. The company’s income statement and balance sheets follow.
FORTEN COMPANY
Comparative Balance Sheets
December 31, 2017 and 2016
| 2017 | 2016 | |
| Assets | ||
| Cash | 64,900 | 83,500 |
| Accounts receivable | 80,870 | 60,625 |
| Inventory | 290,656 | 261,800 |
| Prepaid expenses | 1,310 | 2,095 |
| Total current assets | 437,736 | 408,020 |
| Equipment | 147,500 | 118,000 |
| Accum. depreciation - equipment | (41,625) | (51,000) |
| Total assets | 543,611 | 475,020 |
| Liabilities and equity | ||
| Accounts payable | 63,141 | 129,675 |
| Short-term notes payable | 13,000 | 8,000 |
| Total current liabilities | 76,141 | 137,675 |
| Long-term notes payable | 60,000 | 58,750 |
| Total liabilites | 136,141 | 196,425 |
| Equity | ||
| Common stock, $ 5 par value | 182,750 | 160,250 |
| Paid-in capital in excess of par, common stock | 47,500 | 0 |
| Retained earnings | 177,220 | 118,345 |
| Total liabilies and equity | 543,611 | 475,020 |
FORTEN COMPANY
Income Statement
For Year Ended December 31, 2017
| Sales | 632,500 | |
| Cost of goods sold | 295,000 | |
| Gross profit | 337,500 | |
| Operating expense | ||
| Depreciation expense | 30,750 | |
| Other expenses | 142,400 | 173,150 |
| Other gains (losses) | ||
| Loss on sale of equipment | (15,125) | |
| Income before taxes | 149,225 | |
| Income tax expense | 38,250 | |
| Net Income | 110,975 |
Additional Information on Year 2017 Transactions
a. The loss on the cash sale of equipment was $15,125 (details in b).
b. Sold equipment costing $76,875, with accumulated depreciation of $40,125, for $21,625 cash.
c. Purchased equipment costing $106,375 by paying $50,000 cash and signing a long-term note payable for the balance.
d. Borrowed $5,000 cash by signing a short-term note payable.
e. Paid $55,125 cash to reduce the long-term notes payable.
f. Issued 3,500 shares of common stock for $20 cash per share.
g. Declared and paid cash dividends of $52,100.
Required:
Prepare a complete statement of cash flows; report its operating
activities according to the direct method.
(Amounts to be deducted should be indicated with a minus
sign.)
In: Accounting
Last year Carson Industries issued a 10-year, 13% semiannual coupon bond at its par value of $1,000. Currently, the bond can be called in 6 years at a price of $1,065 and it sells for $1,200.
a. What is the bond's nominal yield to maturity? Do not round intermediate calculations. Round your answer to two decimal places.
b. What is the bond's nominal yield to call? Do not round
intermediate calculations. Round your answer to two decimal
places.
c. What is the current yield? (Hint: Refer to Footnote 7 for the definition of the current yield and to Table 7.1.) Round your answer to two decimal places.
d. What is the expected capital gains (or loss) yield for the coming year? Use amounts calculated in above requirements for calcuation, if reqired. Round your answer to two decimal places. Enter a loss percentage, if any, with a minus sign.
In: Finance
Golden Corp.'s current year income statement, comparative balance sheets, and additional information follow. For the year, (1) all sales are credit sales, (2) all credits to Accounts Receivable reflect cash receipts from customers, (3) all purchases of inventory are on credit, (4) all debits to Accounts Payable reflect cash payments for inventory, (5) Other Expenses are all cash expenses, and (6) any change in Income Taxes Payable reflects the accrual and cash payment of taxes.
| GOLDEN CORPORATION Comparative Balance Sheets December 31 |
|||||||||||
| Current Year | Prior Year | ||||||||||
| Assets | |||||||||||
| Cash | $ | 167,000 | $ | 110,300 | |||||||
| Accounts receivable | 87,500 | 74,000 | |||||||||
| Inventory | 605,500 | 529,000 | |||||||||
| Total current assets | 860,000 | 713,300 | |||||||||
| Equipment | 343,000 | 302,000 | |||||||||
| Accum. depreciation—Equipment | (159,500 | ) | (105,500 | ) | |||||||
| Total assets | $ | 1,043,500 | $ | 909,800 | |||||||
| Liabilities and Equity | |||||||||||
| Accounts payable | $ | 93,000 | $ | 74,000 | |||||||
| Income taxes payable | 31,000 | 26,600 | |||||||||
| Total current liabilities | 124,000 | 100,600 | |||||||||
| Equity | |||||||||||
| Common stock, $2 par value | 595,600 | 571,000 | |||||||||
| Paid-in capital in excess of par value, common stock | 201,400 | 164,500 | |||||||||
| Retained earnings | 122,500 | 73,700 | |||||||||
| Total liabilities and equity | $ | 1,043,500 | $ | 909,800 | |||||||
| GOLDEN CORPORATION Income Statement For Current Year Ended December 31 |
||||||
| Sales | $ | 1,807,000 | ||||
| Cost of goods sold | 1,089,000 | |||||
| Gross profit | 718,000 | |||||
| Operating expenses | ||||||
| Depreciation expense | $ | 54,000 | ||||
| Other expenses | 497,000 | 551,000 | ||||
| Income before taxes | 167,000 | |||||
| Income taxes expense | 26,200 | |||||
| Net income | $ | 140,800 | ||||
Additional Information on Current Year Transactions
Required:
Prepare a complete statement of cash flows using a spreadsheet
under the indirect method. (Enter all amounts as
positive values.)
In: Accounting
|
Year 1 |
Year 2 |
|
|
Beginning FG inventory in units |
100 |
? Ø |
|
Units Produced |
3,000 |
1,000 |
|
Units Sold |
2,000 |
2,000 |
|
Sales |
$800,000 |
$800,000 |
|
Material Costs |
$210,000 |
$70,000 |
|
Variable Labor |
$66,000 |
$66,000 |
|
Variable Overhead |
$24,000 |
$8,000 |
|
Fixed Overhead |
$240,000 |
$240,000 |
|
Variable Selling & Administration |
$60,000 |
$60,000 |
|
Fixed Selling and Administrative Expense |
$120,000 |
$120,000 |
*Beginning Inventory costs per unit for Year 0 are identical to those for Year 1.
Ø The amount of beginning inventory for Year 2 is missing. Please determine how many units are in beginning inventory.
Determine the income using both absorption and variable/throughput costing.
Present the data to managers so that they understand any income fluctuations
In: Accounting
A 63-year-old woman returns with a 4-year history of advanced Parkinson's disease. Currently her medication is only effective for 4 hours, after which her tremors become more severe, handwriting "cramped", and walking is worse. She denies involuntary movements with her medication (dyskinesias), falls, or "freezing" of gait. Her neuropsychiatric review demonstrates no history of depressed mood, anxiety, hallucinations, or significant cognitive impairment. She continues to work part-time, is driving, and has no sleep impairment or daytime somnolence from her medication. Presently she is taking carbidopa-levodopa 25/100 mg po tid.
Is carbidopa-levodopa therapy an effective treatment for significantly reducing symptoms of motor dysfunction such as tremors and difficulty walking?
For a patient diagnosed with Parkinson's disease, is levodopa therapy the best therapy?
How is the medication tolcapone different from carbidopa-levodopa?
Explain actions, assessment, side effects, teaching, and nursing interventions for carbidopa-levodopa.
Explain actions, assessment, side effects, teaching, and nursing interventions for tolcapone.
In: Nursing
agreement called fo...
Dowell leased the warehouses one year ago on December 31. The
five-year lease agreement called for Dowell to make quarterly lease
payments of $2,398,303, payable each December 31, March 31, June
30, and September 30, with the first payment at the lease’s
beginning. As a finance lease, Dowell had recorded the right-of-use
asset and liability at $40 million, the present value of the lease
payments at 8%. Dowell records depreciation on a straight-line
basis at the end of each fiscal year.
Today, Jason True, Dowell’s controller, explained a proposal to
sublease the underused warehouses to American Tankers, Inc. for the
remaining four years of the lease term. American Tankers would be
substituted as lessee under the original lease agreement. As the
new lessee, it would become the primary obligor under the
agreement, and Dowell would not be secondarily liable for
fulfilling the obligations under the lease agreement. “Check on how
we would need to account for this and get back to me,” he had
said.
need to use the FASB’s Codification Research System to obtain the
relevant authoritative literature and explain the specific
Codification citation that Dowell would rely on.
1)determine whether the proposal to sublease will qualify as a
termination of a finance lease.
Keywords:
Codification Reference(s):
2)What’s the appropriate accounting treatment for the
sublease?
Keywords:
Codification Reference(s):
can you please just put the keywords use to find the answer and the codification.
In: Accounting