Exchange Corp. is a company that acts as a facilitator in tax-favored real estate swaps. Such swaps, know as 1031 exchanges, permit participants to avoid some or all of the capital gains taxes that would otherwise be due. The bookkeeper for the company has been asked to prepare a report for the company to help its owner/manager analyze performance. The first such report appears below:

Note that the revenues and costs in the above report are unit revenues and costs. For example, the average office expense is $242 per exchange completed on the planning budget; whereas, the average actual office expense is $215 per exchange completed.

Legal and search fees is a variable cost; office expenses is a mixed cost; and equipment depreciation, rent, and insurance are fixed costs. In the planning budget, the fixed component of office expenses was $4,800.

All of the company’s revenues come from fees collected when an exchange is completed.

Required:

1. Is the report prepared by the bookkeeper useful as a performance report?

2. Complete the performance report that would help the owner/manager assess the performance of the company in May.

1) One of your employees has suggested that your company develop a new product. You decide to take a random sample of your customers and ask whether or not there is interest in the new product. The response is on a 1 to 5 scale with 1 indicating "definitely would not purchase"; 2, "probably would not purchase"; 3, "not sure"; 4, "probably would purchase"; and 5, "definitely would purchase." For an initial analysis, you will record the responses 1, 2, and 3 as "No" and 4 and 5 as "Yes." What sample size would you use if you wanted the 95% margin of error to be 0.2 or less? (Round your answer up to the next whole number.)

Participants

2)

An automobile manufacturer would like to know what proportion of its customers are dissatisfied with the service received from their local dealer. The customer relations department will survey a random sample of customers and compute a 95% confidence interval for the proportion that are dissatisfied. From past studies, it believes that this proportion will be about 0.22. Find the sample size needed if the margin of error of the confidence interval is to be no more than 0.035. (Round your answer up to the next whole number.)

Customers

How effective is the U.S. Securities and Exchange Commission as a regulator of the fund raising process by publicly listed corporations? Discuss.

Outline the rationale for and benefits of a publicly funded health service. (20 marks, approximately 250/300 words please)

Explain a trend and the main reason for boards of directors and shareholders becoming more active in the operations of publicly held corporations

A stock is traded at $50 a share, and there will be no dividend on the stock in 6 months. The 6-month European calls and puts on the stock with same strike price of $45 are traded at $8 and $2, respectively. The six-month risk-free rate is 5% with continuous compounding. Is there an arbitrage opportunity? If yes, construct an arbitrage portfolio and clearly explain how arbitrage profits are created. If no, why?

13. Which of the following transactions causes a decrease in total liabilities?

A. Paying maintenance expenses for the current month.

B. Providing services to customers on account.

C. Paying dividends to stockholders.

D. Repay amounts previously borrowed from the bank.

14. Which of the following transactions causes a decrease in stockholders’ equity?

A. Paying advertising expense for the current month.

B. Repaying amount borrowed from the bank.

C. Providing services to customers for cash.

D. Providing services to customers on account.

15. Which of the following is possible for a particular business transaction?

A. Increase assets; decrease liabilities.

B. Decrease assets; increase stockholders’ equity.

C.Decrease assets; decrease liabilities.

D.Decrease liabilities; increase expenses.

20. A debit is used to decrease which of the following accounts?

A. Salaries Expense.

B. Accounts Payable.

C. Dividends.

D. Supplies.

28. Account balances in the general ledger are updated for transactions through the process of:

A. Balancing.

B. Analyzing.

C. Posting.

D. Journalizing.

30. Which of the following is true about a trial balance?

A .Only income statement accounts are shown.

B. Total debit amounts should always equal total credit amounts.

C. Only balance sheet accounts are shown.

D. The trial balance shows the change in all account balances over the accounting period.

35. if a company has an increase in total expenses of $10,000, which of the following is possible?

A. Total liabilities decrease by $10,000.

B.Total assets increase by $10,000.

C. Total stockholders' equity increases by $10,000.

D. Total assets decrease by $10,000.

36. If a company has an increase in total revenues of $10,000, which of the following is possible?

1. Total assets increase by $10,000.

2. Total liabilities increase by $10,000.

3. Total stockholders' equity decreases by $10,000.

A. I only

B. II only

C. III only

D. II or III

he payment for utilities of the current month would be recorded as

Multiple Choice

A. Debit Cash; Credit Utilities Payable.

B. Debit Utilities Expense; Credit Utilities Payable.

C. Debit Utilities Expense; Credit Cash.

D. Debit Utilities Payable; Credit Cash

43. Providing services to customers on account for $100 is recorded as

Multiple Choice

A.Option a

B. Option b

C. Option c

D. Option d

Calculate and record the regression equation. Write a paragraph discussing the slope of the regression equation and how it relates to your topic. Use the following data points.

Santana Rey created Business Solutions on October 1, 2019. The company has been successful, and its list of customers has grown. To accommodate the growth, the accounting system is modified to set up separate accounts for each customer. The following chart of accounts includes the account number used for each account and any balance as of December 31, 2019. Santana Rey decided to add a fourth digit with a decimal point to the 106 account number that had been used for the single Accounts Receivable account. This change allows the company to continue using the existing chart of accounts.

In response to requests from customers, S. Rey will begin selling computer software. The company will extend credit terms of 1/10, n/30, FOB shipping point, to all customers who purchase this merchandise. However, no cash discount is available on consulting fees. Additional accounts (Nos. 119, 413, 414, 415, and 502) are added to its general ledger to accommodate the company’s new merchandising activities. Its transactions for January through March follow:

The following additional facts are available for preparing adjustments on March 31 prior to financial statement preparation:

1. The March 31 amount of computer supplies still available totals $2,145.
2. Prepaid Insurance coverage of $663 expired during this 3-month period.
3. Lyn Addie has not been paid for seven days of work at the rate of $205 per day.
4. Prepaid rent of $2,535 expired during this 3-month period.
5. Depreciation on the computer equipment for January 1 through March 31 is $1,080.
6. Depreciation on the office equipment for January 1 through March 31 is $240.
7. The March 31 amount of merchandise inventory still available totals $564.

1. Prepare journal entries to record each of the January through March transactions.

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