Jean's Fitness Club provides monthly memberships as well as personal training sessions. The personal trainers earn 50% of the revenue for all personal training sessions. The Fitness Club also sells nutrition products. Jean's general ledger accounts indicate the following for the year. The front desk staff wages expense remains the same throughout the year.

If a contribution margin income statement is prepared for the year, what is operating income?

The owner of a departmental store would like to estimate monthly gross revenues as a function of advertising
expenditures. Historical data for randomly selected 8 months is given below (₹ in crores)
Monthly revenue Television Advertising Newspaper advertising

a. Derive a regression equation with amount of expenditure on television advertising as independent
variable.
b. Derive a regression equation with both expenditure on television advertising and newspaper advertising
as independent variables.
c. Estimate the monthly gross revenue for a month when 4 crores is spent on TV , and 1.5 crores is spent
on newspaper advertising.

Using cost-volume-profit formuas:E 20.8 Arrow products typically earns a contribution margin ratio of 25 percent and has current fixed cost of $80,000. Arrow's general manger is considering spending an additional $20,000 to do one of the following : 1 start a new ad campaign that is expected to increase sales revenue by 5 percent. 2. license a new computerized ordering system that is expected to increase Arrow's contribution margin ratio to 30 percent. sales revenue for the coming year was initially forecast to equale $1,2000,000(that is without impleminting either of the above options). A. For each option, how much will projected operating income increase or decrease relative to initial prediction? B. By what percentage would sales revenue need to increase to make the ad campaign as attractive as the ordering system?

A, B and C are equal partners in the ABC partnership which has the following balance sheet:

             Assets                               Partners’ Capital

                          A.B.        F.M.V.                 A.B.        F.M.V.

Cash                  $6,000     $6,000       A        $12,000    $18,000

A/R                            0       9,000       B          12,000     18,000

Inventory             18,000     18,000       C          12,000     18,000

Land & Building     6,000     12,000

Equipment            6,000      9,000

                        $36,000   $54,000                  $36,000    $54,000

The partnership distributes the $9,000 worth of accounts receivable to A and $18,000 worth of inventory equally ($9,000 each) to B and C.

(a) Is Internal Revenue Code Section 751(b) applicable to this operating distribution?

(b) What does this tell you about Internal Revenue Code Section 751(b)?

(c) Should Internal Revenue Code Section 751(b) be repealed?

The following information applies to the questions displayed below.]

In 2021, the Westgate Construction Company entered into a contract to construct a road for Santa Clara County for $10,000,000. The road was completed in 2023. Information related to the contract is as follows:

Westgate recognizes revenue over time according to percentage of completion.

Required:
1. Calculate the amount of revenue and gross profit (loss) to be recognized in each of the three years. (Do not round intermediate calculations. Loss amounts should be indicated with a minus sign.)

2021. 2022. 2023

Revenue

Gross profit(loss)

Chapter 6, #5

In 2021, the Westgate Construction Company entered into a contract to construct a road for Santa Clara County for $10,000,000. The road was completed in 2023. Information related to the contract is as follows:

Westgate recognizes revenue over time according to percentage of completion.

Required:
1. Calculate the amount of revenue and gross profit (loss) to be recognized in each of the three years. (Do not round intermediate calculations. Loss amounts should be indicated with a minus sign.)

TRUE OR FALSE

1. The SCI is a picture of the results of the operations of the company as of the cut-off date.

2. The major elements of the SCI are income and expenses.

3. Cost of sales is computed as the cost of goods sold available for sales less ending inventory.

4. Goods returned by the customer are immediately deducted from the sales revenue account.

5. Expense decreases assets and therefore has credit normal balance.

6. Depreciation Expense is a line account found in an SCI prepared following the multi-step format.

7. Revenue increases equity and therefore has a credit normal balance.

8. Accumulated depreciation appears on the income statement.

9. The excess of expense over revenue is called loss.

10. The focal point of the accounting cycle is the financial statement.

I don't really understand how to estimate revenue. I have been given revenues from previous years and I am being asked to estimate the revenue for FY2020 and explain my rationale. Please help thank you! Please show all relevant work so I can understand how you got to the answer. Thank you!

PS: if possible please use regression including a graph.

Mexico Inc. has opened numerous restaurants near college campuses. Given below are student population in thousands (X) and annual revenue in millions at Taco Sell (Y) for various campuses.

a) Is this a time series or a causal relation case?

b) Please develop a regression equation for this case (write the equation clearly)

c) How good is the model (that is what can you say about the model given the r2 value)?

d) Now, the company is contemplating opening an outlet at IUP (current student population 10,000). Make a forecast of annual revenue at the IUP outlet of Taco Sell
.