Questions
you decide to open an individual retirement account (IRA) at your local bank that pays 11%/year/year....

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...

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....

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...

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
ASSETS
110 Cash
111 Petty Cash
121 Accounts Receivable
122 Allowance for Doubtful Accounts
126 Interest Receivable
127 Notes Receivable
131 Merchandise Inventory
141 Office Supplies
142 Store Supplies
151 Prepaid Insurance
191 Land
192 Store Equipment
193 Accumulated Depreciation-Store Equipment
194 Office Equipment
195 Accumulated Depreciation-Office Equipment
LIABILITIES
210 Accounts Payable
221 Salaries Payable
231 Sales Tax Payable
232 Interest Payable
241 Notes Payable
251 Bonds Payable
252 Discount on Bonds Payable
253 Premium on Bonds Payable
EQUITY
311 Common Stock
312 Paid-In Capital in Excess of Par-Common Stock
315 Treasury Stock
321 Preferred Stock
322 Paid-In Capital in Excess of Par-Preferred Stock
331 Paid-In Capital from Sale of Treasury Stock
340 Retained Earnings
351 Cash Dividends
352 Stock Dividends
390 Income Summary
REVENUE
410 Sales
610 Interest Revenue
611 Gain on Redemption of Bonds
EXPENSES
510 Cost of Merchandise Sold
515 Credit Card Expense
516 Cash Short and Over
521 Sales Salaries Expense
522 Office Salaries Expense
531 Advertising Expense
532 Delivery Expense
533 Repairs Expense
534 Selling Expenses
535 Rent Expense
536 Insurance Expense
537 Office Supplies Expense
538 Store Supplies Expense
541 Bad Debt Expense
561 Depreciation Expense-Store Equipment
562 Depreciation Expense-Office Equipment
590 Miscellaneous Expense
710 Interest Expense
711 Loss on Redemption of Bonds

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

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In: Accounting

Forten Company, a merchandiser, recently completed its calendar-year 2017 operations. For the year, (1) all sales...

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...

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,...

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

  1. Purchased equipment for $41,000 cash.
  2. Issued 12,300 shares of common stock for $5 cash per share.
  3. Declared and paid $92,000 in cash dividends.

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...

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...

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 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