Six months before its annual convention, the American Medical Association must determine how many rooms to reserve. At this time, the AMA can reserve rooms at a cost of $50 per room. All rooms that are reserved must be paid for even if they are not used. The AMA believes the number of doctors attending the convention will be normally distributed with a mean of 5000 and a standard deviation of 1000. If the number of people attending the convention exceeds the number of rooms reserved, extra rooms must be acquired at a cost of $80 per room. Use a simulation model to determine the expected cost of the rooms for the convention for the following reservation levels: 2000, 3000, 4000, 5000, 6000, 7000, and 8000. From the above list of reservation levels, select the optimal number of rooms to reserve. Use a simulation with 2000 replicates and answer the questions below:

a) What is the optimal number of rooms to reserve?  (Click to select)  2000  3000  4000  5000  6000  7000  8000

(Round the following answers to two decimals)

b) What is the expected minimum cost? $

b) Construct a 95% confidence interval for the expected cost for the optimal number of rooms to reserve:

11. A study reported in the Journal of the American Medical Association involved the study of respiratory tract infections in children aged 1 to 5 years in Israel. During the period November 1999 to March 2000 a randomly selected group of the children received a placebo and another randomly selected group received a mixture of Echinacea and Vitamin C. The following table gives the numbers for the children in each group and for those who developed pneumonia during that time.

1. Calculate the sample proportion, , of children in the placebo group who developed pneumonia, and calculate the sample proportion, , of children in the Echinacea group who developed pneumonia.

2. Calculate the sample difference in proportions, .

3. Calculate the approximate standard error, s, of the sampling distribution for differences in sample proportions.

d. Calculate a 95% confidence interval for the difference in the population proportions, .

5. Interpret, in terms a non-statistics person would understand, your 95% confidence interval, explaining what it tells us about the proportions of all children with these treatments who would develop pneumonia.

6. State an appropriate null hypothesis, H₀, and alternative hypothesis, H₁, for testing whether or not the proportion of children developing pneumonia is higher for the placebo treatment than for the Echinacea treatment.

H₀: English version:

Symbolic version:

H₁: English version:

Symbolic version:

7. Calculate the pooled proportion, , and the standard error, s, based on the pooled proportion. (Hint: the last row in the table gives you pooled numbers.)

8. Calculate the z-score for your sample difference, , from part b.

9. Calculate the p-value for your z-score. If the significance level is 0.01, should the researchers reject or fail to reject the null hypothesis from part f?

10. Explain your conclusion from the previous part in terms a non-statistics person would understand.

1. In what ways can non-current assets be disposed?
2. What do you understand by the trade in disposal?
3. Trust in him Enterprise has the following tasks at 1^st April, 2017.

Note: Estimated Residual value (ERV)

The company policy is to provide at the end of each financial year a change for depreciation using the straight line method, applied on month by month basis.

During the financial year ended 31^st March, 2017, the following occurred:

1. On 30^th June, vehicle No. GT 124516 was traded in and replaced by GE 147817 the trade in allowance was GHȻ 25,000.00.

GE 147817 Cost GH75,000.00 and the balance due that is after deducting the trade in allowance was paid partly in cash and partly by a loan of GH30,000.00 from Port Base Financial Service.

The GE 147817 estimate to have a residual value of GH20,000.00 after an estimated economic life for five (5) years.

The estimated remaining economic life of vehicle No.2 – GT 346717 was reduced from six (6) years to four (4) years with no change with the estimated residual value.

You are require to:

1. Show the journal entries to record the above transaction which occurred during the financial year ended 31^st March, 2018

2. Journal entry to record the depreciation of trucks for the year ended 31^st March, 2018.

3. Trucks account and provision for the depreciation account for the year ended 31^st March, 2018.

1. Show the necessary calculation clearly in the books
2. Post the items in their relevant ledgers.

The following are the summary account balances from a recent statement of financial position of Modern Sportswear Inc. The accounts are followed by a list of transactions for the month of January 2018. All amounts are shown in millions of dollars:

The accounts have normal debit or credit balances, but they are not necessarily listed in good order. The following additional information is also available:

a. Purchase new equipment costing $150 by issuing long-term debt.

b. Recieved $900 on accounts receivable.

c. Recievedand paid the telephone bills for $1.

d. Earned $500 in sales to customers on account; the cost of sales was $300.

e. Paid employees $100 for wages earned in January.

f. Paid half of the income taxes payable.

g. Purchased inventory for $223 on account.

h. Prepaid rent for february for a warehouse for $12.

i. Paid $10 of long-term borrowings and $1 in interest on the debt.

j. Purchased a patent (an intangible asset) for $8 cash.

Required:

1. Set up T-accounts for the preceding list and enter the respective balances. (you will need additional T-accounts for statement of earnings accounts).

2. For each transaction, record the effects in the T-accounts. label each by using the letter of the transaction. Compute ending balances.

3. Show the effects (dirction and amount) of each transaction on net earnings and cash.

4. Prepare in good form a multiple-step statement of earnings for the month of January 2018 and a classified statement of financial position as at January 31, 2018.

5. Compute the company's total asset turnover ratio. What does this ratio suggest to you about Modern SortswearInc. ?

Tanning Corp. was experiencing cash flow problems and was unable to pay its $123,600 account payable to Sun Corp. when it fell due on September 30, 2017.

Sun Corp. agreed to substitute a one-year note for the open account. The following two options were presented to Tanning Corp by Sun Corp.:

Option 1: A one-year note for $123,600 due September 30, 2018. Interest at a rate of 9% would be payable at maturity.

Option 2: A one-year non–interest-bearing note for $134,724. The implied rate of interest is 9%. Assume that Sun Corp. has a December 31 year end.

A) Assuming Tanning Corp. chooses Option 1, prepare the entries required on Sun Corp.’s books on September 30, 2017, December 31, 2017, and September 30, 2018. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Round answers to 0 decimal places, e.g. 5,275. Record journal entries in the order presented in the problem.)

No. Account Titles and Explanation______Debit________-Credit

Need two entries - Date _______________

________________

Need two entries -Date ________________

________________

Need 4 entries Date ________________

_________________

_________________

________________

B) Assuming Tanning Corp. chooses Option 2, prepare the entries required on Sun Corp.’s books on September 30, 2017, December 31, 2017, and September 30, 2018. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Round answers to 0 decimal places, e.g. 5,275. Record journal entries in the order presented in the problem.) (8 entries total)

No. Account Titles and Explanation______Debit________-Credit

Need two entries Date ______________________

______________________

Need two entries Date ______________________

_______________________

Need two entries Date ______________________

_____________________

To record Interest

Need two entries Date __________________

___________________

To record Notes

Use the following balance sheets and income statement to answer this question

Calculate the firm’s free-cash-flow (FCF) for Tully during 2019 and carefully interpret the meaning of free cash flow that you calculated to the firm's investors.

Topic : Consolidation: Non-controlling interests

On 1 July 2016, Poppy Ltd acquired 80% of the issued shares of Sunshine Ltd for $240 000 when the equity of Sunshine Ltd consisted of:

share capital $160000

general reserve $10000

retained earnings $59000

At this date, all identifiable assets and liabilities of Sunshine Ltd were recorded at fair value except for the following.

carrying amount fair value

inventories $ 10000 $14 000

plant (cost $220 000) 90 000 99 000

land 70 000 87 000

Half of the inventories were sold by 30 June 2017 and the remainder by 30 June 2018. The plant has a further 3-year life beyond 1 July 2016, with benefits to be received evenly over this period. The land was sold on 1 March 2020 to an external party. Adjustments for the differences between carrying amounts and fair values are to be made in the consolidation worksheet. Poppy Ltd uses the partial goodwill method. The tax rate is 30%.

During the 4 years since acquisition, Sunshine Ltd has recorded the following annual results and declared the following dividends.

Dividends were paid within 6 weeks of the end of each period. There have been no transfers to or from the general reserve since the acquisition date.

Required:

1. Prepare the consolidation worksheet entries as at 1 July 2016.

2. Prepare the consolidation worksheet entries for the year ended 30 June 2018.

what is need to be done is mentioned in the required field and be able to explain the relationships that exist between a parent company and its subsidiary(ies), an investor and its investee;

(A) Opperman Ltd owns all the share capital of Jewel Ltd. During the year ended 30 June 2018, Opperman Ltd paid a dividend of $20 000, and Jewel Ltd paid and declared dividends of $10 000 and $30 000 respectively. The tax rate is 30%. Explain in detail the journal entries that would be required in preparing the consolidated financial statements for 30 June 2018.

(B) What is a non-controlling interest and how should it be disclosed? Does the existence of the NCI affect the BCVR entries? Why or why not? Using the following information demonstrate how the existence of an NCI affects the pre-acquisition entry. Explain the journal entry in detail, line by line. Harnesh Ltd acquired 80% of Maxima Ltd for $450 000 cash on 1 July 2017. At that date the equity of Maxima included the following: Share Capital $400 000 General Reserve 50 000 Retained Earnings 50 000 500 000 All assets and liabilities of Maxima Ltd are at fair value. The tax rate is 30%.

(C) When calculating the NCI share of equity the step approach is used. Demonstrate the step approach, explaining in detail each journal entry, using the following information: Harnesh Ltd acquired 80% of Maxima Ltd for $450 000 cash on 1 July 2016. At that date the equity of Maxima included the following: Share Capital $400 000 General Reserve 50 000 Retained Earnings 50 000 500 000 All assets and liabilities of Maxima Ltd are at fair value. The partial goodwill method is used. The tax rate is 30%. On 30 June 2018, Maxima Ltd provided the following information: Retained earnings (1/7/17) $ 80 000 General Reserve (1/7/17) 70 000 Profit after tax 50 000 Dividend paid 10 000

ProForm acquired 60 percent of ClipRite on June 30, 2017, for $960,000 in cash. Based on ClipRite's acquisition-date fair value, an unrecorded intangible of $700,000 was recognized and is being amortized at the rate of $17,000 per year. No goodwill was recognized in the acquisition. The noncontrolling interest fair value was assessed at $640,000 at the acquisition date. The 2018 financial statements are as follows:

ClipRite sold ProForm inventory costing $76,000 during the last six months of 2017 for $160,000. At year-end, 30 percent remained. ClipRite sells ProForm inventory costing $235,000 during 2018 for $320,000. At year-end, 10 percent is left. With these facts, determine the consolidated balances for the following:

Xie Pte Ltd was incorporated on 2 January 2017 and commenced business on 1 July 2018. The following expenditures were incurred on plant and machinery:

• 2 January 2017 to 31 December 2017 $150,000
• 1 January 2018 to 30 June 2018 $200,000
• 1 July 2018 to 31 December 2018 $300,000

The company’s year-end is 31 December.