On December 31, 2020, Flounder Company borrowed $67,653 from Paris Bank, signing a 5-year, $114,000 zero-interest-bearing note. The note was issued to yield 11% interest. Unfortunately, during 2022, Flounder began to experience financial difficulty. As a result, at December 31, 2022, Paris Bank determined that it was probable that it would receive back only $85,500 at maturity. The market rate of interest on loans of this nature is now 12%.
1. Prepare the entry to record the issuance of the loan by Paris Bank on December 31, 2020.
2. Prepare the entry, if any, to record the impairment of the loan on December 31, 2022, by Paris Bank
In: Accounting
In this problem, assume that the distribution of differences is
approximately normal. Note: For degrees of freedom
d.f. not in the Student's t table, use
the closest d.f. that is smaller. In
some situations, this choice of d.f. may increase
the P-value by a small amount and therefore produce a
slightly more "conservative" answer.
Are America's top chief executive officers (CEOs) really worth all
that money? One way to answer this question is to look at row
B, the annual company percentage increase in revenue,
versus row A, the CEO's annual percentage salary increase
in that same company. Suppose a random sample of companies yielded
the following data:
|
B: Percent increase for company |
8 | 4 | 6 | 18 | 6 | 4 | 21 | 37 |
| A: Percent
increase for CEO |
30 | 27 | 18 | 14 | -4 | 19 | 15 | 30 |
Do these data indicate that the population mean percentage increase in corporate revenue (row B) is different from the population mean percentage increase in CEO salary? Use a 5% level of significance. (Let d = B − A.)
(a) What is the level of significance?
State the null and alternate hypotheses.
(b) What sampling distribution will you use? What assumptions are you making?
What is the value of the sample test statistic? (Round your
answer to three decimal places.)
(c) Find the P-value. (Round your answer to four decimal places.)
(d) Based on your answers in parts (a) to (c), will you reject or fail to reject the null hypothesis? Are the data statistically significant at level α?
(e) Interpret your conclusion in the context of the application.
In: Statistics and Probability
During 20X1, Craig Company had the following transactions:
| A. | Purchased $300,000 of 10-year bonds issued by Makenzie Inc. |
| B. | Acquired land valued at $105,000 in exchange for machinery. |
| C. | Sold equipment with original cost of $810,000 for $495,000; accumulated depreciation taken on the equipment to the point of sale was $270,000. |
| D. | Purchased new machinery for $180,000. |
| E. | Purchased common stock in Lemmons Company for $82,500. |
| Required: | |
| 1. | Prepare the net cash from investing activities section of the statement of cash flows. |
| 2. | CONCEPTUAL CONNECTION Usually, the net cash from investing activities is negative. How can Craig cover this negative cash flow? What other information would you like to have to make this decision? |
In: Accounting
A university has found over the years that out of all the students who are offered admission, the proportion who accept is 0.70. After a new director of admissions is hired, the university wants to check if the proportion of students accepting has changed significantly. Suppose they offer admission to 1200 students and 888 accept. Is this evidence at the α = .05 level that there has been a real change from the status quo?
In: Statistics and Probability
A wealthy Melbourne businessman donated $2 million to Monash University as a gift.
This he said was a recognition of his gratitude to the excellent tuition he received from the teaching staff in the Department of Accounting whilst studying as an undergraduate student back in the 1960’s.
In the light of the definition and recognition criteria contained in the Conceptual Framework would this gift be treated as income in the books of Monash University? Justify your answer.
In: Accounting
Please answer 1-7
Which of these has the potential to differentiate into either myeloid stem cells or lymphoid stem cells?
|
erythrocytes |
||
|
mast cells |
||
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pluripotent stem cells |
||
|
plasma cells |
Innate immunity involves which components of the human body?
|
skin |
||
|
mucus |
||
|
blood cells |
||
|
all of these |
Giardiasis is caused by the protozoa Giardia, what is its most common method of entry into the human body?
|
blood transfusions |
||
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through contaminated water |
||
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poorly cooked meat |
||
|
none of these |
Which immunoglobulin has a pentamer structure?
|
IgG |
||
|
IgM |
||
|
IgA |
||
|
IgD |
The process of hematopoiesis is best described as __________.
|
the differentiation of blood cells |
||
|
the differentiation of viruses |
||
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the differentiation of bacterial cells |
||
|
none of these |
Which of these best describe adhesins/ligands?
|
they are either cilia or flagella and are used in cell movement |
||
|
they are surface molecules on a pathogen that bind to the host cell |
||
|
they are a type of exotoxin |
||
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they are a type of endotoxin |
Which of these is an example of artificially acquired active immunity?
|
immunity acquired after catching measles from someone |
||
|
immunity acquired from mother to child through antibodies in breast milk |
||
|
immunity acquired via vaccination of a specific antigen |
||
|
immunity acquired via injection of antibodies into the body |
In: Biology
PartA: Jan 1st, 2020: Tony Inc. buys a machine from Avengers Inc. and will make 3 equal payments of 200,000 over the next 18 months (payments on June 30, 2020; Dec 31, 2020; and June 30, 2021). The interest rate on this annuity is 14%. Record all the journal entries from Jan 1st 2020 until the expiration of the annuity. (4 points) Assume the machine does not depreciate.
Part B: Create the balance sheet as of December 31st, 2020 along with the income statement and cash flow statement for the time period of Jan 1st, 2020 to Dec 31st,2020 (6 points) (There might have a $1 rounding issue )
Thank you so much guys!!!
In: Accounting
The following facts pertain to a non-cancelable lease agreement
between Metlock Leasing Company and Ivanhoe Company, a
lessee.
| Commencement date | May 1, 2020 | ||
| Annual lease payment due at the beginning of | |||
| each year, beginning with May 1, 2020 | $15,138.16 | ||
| Bargain purchase option price at end of lease term | $4,000 | ||
| Lease term | 5 | years | |
| Economic life of leased equipment | 10 | years | |
| Lessor’s cost | $50,000 | ||
| Fair value of asset at May 1, 2020 | $68,000 | ||
| Lessor’s implicit rate | 8 | % | |
| Lessee’s incremental borrowing rate | 8 | % |
The collectibility of the lease payments by Metlock is
probable.
1.Compute the amount of the lease receivable at commencement of the lease.
2.Prepare a lease amortization schedule for Metlock for the 5-year lease term.
3.Prepare the journal entries to reflect the signing of the lease agreement and to record the receipts and income related to this lease for the years 2020 and 2021. The lessor’s accounting period ends on December 31. Reversing entries are not used by Metlock.
4.Suppose the collectibility of the lease payments was not probable for Metlock. Prepare all necessary journal entries for the company in 2020
In: Accounting
How would implementing these principles of motivational interview impact teaching, guiding, and coaching your patient?
In: Nursing
What worries you the most about the job interview process? Explain in a minimum of 150 words.
In: Operations Management