On December 1, Year 1, John and Patty Driver formed a corporation called Susquehanna Equipment Rentals. The new corporation was able to begin operations immediately by purchasing the assets and taking over the location of Rent-It, an equipment rental company that was going out of business. The newly formed company uses the following accounts.

The corporation performs adjusting entries monthly. Closing entries are performed annually on December 31. During December, the corporation entered into the following transactions.

Data for Adjusting Entries

1. The advance payment of rent on December 1 covered a period of three months.
2. The annual interest rate on the note payable to Rent-It is 6 percent.
3. The rental equipment is being depreciated by the straight-line method over a period of eight years.
4. Office supplies on hand at December 31 are estimated at $720.
5. During December, the company earned $4,440 of the rental fees paid in advance by McNamer Construction Company on December 8.
6. As of December 31, six days’ rent on the backhoe rented to Mission Landscaping on December 26 has been earned.
7. Salaries earned by employees since the last payroll date (December 26) amounted to $1,680 at month-end.
8. It is estimated that the company is subject to a combined federal and state income tax rate of 40 percent of income before income taxes (total revenue minus all expenses other than income taxes). These taxes will be payable in Year 2.

Your blood belongs to one of four genetically determined types: O, A, B, or AB. A bulletin issued by a large blood bank claims that these four blood types are distributed in the U.S. population according to the following proportions: 0.44 are type O, 0.41 are type A, 0.10 are type B, and 0.05 are type AB. Let’s treat this claim as a null hypothesis to be test with a random sample of 100 students from a large university. The data collection results of each blood type from the university showed 38 for O and A, 20 for B, and 4 for AB.

A) What is the statistical hypothesis? (Ho and Ha)

B) Find an expected frequency for each expected proportion.

C) Solve for chi-square test statistic.

D) Find the degrees of freedom.

E) Identify the chi-square value from the table.

F) What is the conclusion?

There is not a cure for HIV yet, but there is an effective treatment for reducing the likelihood of transmission of HIV from an infected mother to her unborn child (or born child, through breast milk). In the absence of treatment, the likelihood of transmission averages about 25%. In collaboration with Eastern Mediterranean University Faculty of Pharmacy, a Cyprus based, private pharmaceutical company KuntePharma develop a new drug called HIV-OFF. Researchers from the university and KuntePharma, travel to X country in Africa and ask 200 pregnant HIV-positive mothers there to participate in a trial for a new drug that reduces, “from mother to child” HIV transmission. It is said that, the reasons of choosing Africa are: “Compared to Cyprus it would cost much less and the fact that laws and regulations allow more flexibility to conduct the research in the X country”. The give 100 women a placebo, and they give 100 women HIV-LESS. Of the 100 HIV-LESS children, only 1 contract HIV. Of the 100 placebo children, 44 do. In this study, 45 children contract HIV, when it is likely that, if all the participants were given HIV-LESS, less would have. Are the scientists morally responsible for the transmission of HIV to more children in this trial? Remembering the concepts Consent, Placebo, Risk-benefit-harm, The Rights of the Patients, exploitation; respect for persons and utilitarian approaches and others that you might think relevant to this case, which were discussed during the course, discuss if this trial is ethical? You might compare the dynamics of this case with historic examples that caused drastic changes in understanding of experimentations on human beings and formed the present day ethical principles and laws.

Costa Cruise Lines (CCL) (a U.S. company based in Miami, FL) purchased a ship from Komatsu Heavy Equipment for ¥700 million – payable in 1 year.  The current spot rate is ¥110/$ and the one-year forward rate is ¥108/$.  

For borrowing (or depositing), the annual interest rate in Japan is 6%.  In the United States, the rate is 2%.

Yen call and put options, with a 1-year expiration date and an exercise price of $.009 are available. The price (premium) of the call option is $.002 per yen.  The price (premium) of the put option is $.001 per yen.

* Assume that one year from today, the spot rate for yen is either ¥130/$ or ¥105/$.  If CCL decides to hedge with options, should they use a call or a put?  If CCL follows the appropriate options hedging strategy, what is CCL’s net cost (in $US) to purchase the ship if the spot rate is ¥130/$?  What is the net cost if the spot rate is ¥105/$?  (Be sure to include the cost of buying the option in your answer.)

Recommended strategy (check one box):  Call options….□                   Put options….□

Net Cost if ¥130/$ = $____________________    Net cost if ¥105/$  = $____________________

* If CCL decides to hedge with a forward contract, what will the ship cost (in $US)?

* If CCL decides to use a money market hedge, what will the ship cost (in $US)?

Please examine the current liabilities on the Balance Sheet and identify those that are definitely determinable and those that are probably estimates. Does the corporation have any liabilities with respect to pensions, vacation pay, or warranties? Please see the notes to the financial statements for details with respect to these liabilities. Please let us know what a contingent liability is and if your company has any contingent liabilities.

Part 2

Employees are subject to taxes withheld from their paychecks. Please indicate the federal taxes that are withheld from most employee paychecks. Please let us know why deductions from employees earnings are classified as liabilities for the employer.

Responses to Instructor

Please check your thread for questions or comments from me and be sure to provide a comprehensive response, as requested.

Responses to Classmates

When responding to classmates this week, please select two of the taxes listed below and let them know whether those taxes generally apply to employees only, employers only, or both employees and employers:

Federal Income Tax

Medicare Tax

Social Security Tax

Federal Unemployment Compensation Tax

State Unemployment Compensation Tax

Last year, Jimmy graduated  from First City  University and received USD 5,000 from his father as a graduation gift. Jimmy, , recently heard from a friend who earns a profit from investing in the bond market during this pandemic time.

JImmy does not know much about investing or how people actually “make money by investing”. He asked you to help him in making a wise investment plan.

Required:

1. Before investing any money, explain to Jimmy about the risk involved.

2. Calculate the expected rate of return Jimmy would receive if he buys bonds in Eplas bond. Eplas bond is a 15-year, USD1,000 par value bond that pays 5.5 percent interest annually. The market price of the bond is USD1,085.  

3. Determine the value of the bond given Jimmy required rate of return is 7 percent.

4. Jimmy’s father, Mr.Marc is valuing an investment that will pay him USD12,000 the first year, USD14,000 the second year, USD17,000 the third year, USD19,000 the fourth year, USD23,000 the fifth year, and USD29,000 the sixth year (all payments are at the end of each year). Determine the value of the investment to Mr.Marc now if the appropriate annual discount rate is 11%.

Under ordinary circumstances: For all babies born in the entire global population, the proportion of male births tends to be consistently a bit higher, than the proportion of female births (Source: WHO - World Health Organization).

In fact: For a randomly sampled individual birth from the global population, the probability that the baby's sex will be male is approximately 51.22%.

Imagine that we will randomly record the sex outcome at birth for 25 future individual babies from the global population.

We will let random variable X stand for the total number of male births in our sample.

In this scenario, what is the numerical value of E(X)?

Round to one digit past the decimal point, and state just the number part of your answer (no units).

In this same scenario:

What is the numerical value of SD(X)?

Round to one digit past the decimal point, and state just the number part of your answer (no units).

In this same scenario:

What is the approximate value of P(X≤11) ?

Write your answer as a percentage value, and round to three digits after the decimal point. Include a percent symbol after your answer (no spaces).

In this same scenario:

What is the approximate value of P(X>11) ?

Write your answer as a percentage value, and round to three digits after the decimal point. Include a percent symbol after your answer (no spaces).

An American company sells merchandise on account to a Swiss company for CHF 50,000 on 1/12/2019 when the rate was 1 CHF = 0.9 USD. On 31/12/2019 the rate was 1 CHF = 0.96 USD. On 25/1/2020 the Swiss company pays its obligation to the US company (the rate was 1 CHF = 1.01 USD), which keeps the foreign cash it and converts the amount to US dollars on 10/2/2020, when the rate was 1 CHF = 0.99 USD. Required: Provide the journal entries on each of the above mentioned dates (Note: CHF means Swiss franc). NOTE: IF YOU CANNOT CLEARLY WRITE THE JOURNAL ENTRIES LIKE YOU WOULD ON A PAPER EXAM, PLEASE MENTION dr OR cr NEAR EACH ACCOUNT IN THE JOURNAL ENTRY AS APPROPRIATE.

An American company sells merchandise on account to a Swiss company for CHF 50,000 on 1/12/2019 when the rate was 1 CHF = 0.9 USD. On 31/12/2019 the rate was 1 CHF = 0.96 USD. On 25/1/2020 the Swiss company pays its obligation to the US company (the rate was 1 CHF = 1.01 USD), which keeps the foreign cash it and converts the amount to US dollars on 10/2/2020, when the rate was 1 CHF = 0.99 USD. Required: Provide the journal entries on each of the above mentioned dates (Note: CHF means Swiss franc). NOTE: IF YOU CANNOT CLEARLY WRITE THE JOURNAL ENTRIES LIKE YOU WOULD ON A PAPER EXAM, PLEASE MENTION dr OR cr NEAR EACH ACCOUNT IN THE JOURNAL ENTRY AS APPROPRIATE.

Language HTML and Javascript

Here is a string: " Hi, my name is John. I am a student at Rutgers University. I am currently taking a Web Class."

1. Change "Rutgers University" to "RUTGERS UNIVERSITY"

2. Replace "Web Class" to "Web Client and Server side Programming"