At June 30, 2017, the end of its most recent fiscal year, Sheffield Computer Consultants’ post-closing trial balance was as follows:

The company underwent a major expansion in July. New staff was hired and more financing was obtained. Sheffield conducted the following transactions during July 2017, and adjusts its accounts monthly.

Adjustment data:

Prepare a classified balance sheet at July 31. (List Current Assets in order of liquidity.)

At June 30, 2017, the end of its most recent fiscal year, Sheffield Computer Consultants’ post-closing trial balance was as follows:

The company underwent a major expansion in July. New staff was hired and more financing was obtained. Sheffield conducted the following transactions during July 2017, and adjusts its accounts monthly.

Adjustment data:

Prepare a post-closing trial balance at July 31.

CASE 2. ELASTICITY

In the United States, taxes are imposed on cigarettes at the state level. As a result, there are large differences among states. As of July 1, 2010, three states had cigarette taxes in excess of $3.00 per pack: Rhode Island, Connecticut, and Washington. Seven more had rates between $2.00 and $3.00 (including the District of Columbia). Missouri had the lowest rate among the 50 states at $0.17 a pack. The following article describes a proposal to raise taxes by $1.00 per pack in the state of Washington. We would expect an increase in the tax on cigarettes to increase their price to consumers. An interesting question from the point of view of health and tax revenue is how much a price increase lowers demand. One of the commentators in the article claims that increasing cigarette prices by 10 percent reduces youth smokers by 6–7 percent; this is an implied demand elasticity of –0.6 (6%/10%). How do you think this compares to what we would expect from adult smokers? Many people would argue that because more young people are new smokers and because they have less money than adults, their demand for cigarettes would be more elastic. On the other hand, if peer pressure favors smoking, this could lower demand elasticity for youths. One problem that states face as they increase their cigarette taxes is that people will seek cigarette substitutes from cheaper areas. In Washington, the state pressured Indian tribes to raise the tribal tax rate on cigarettes to the overall state level. By making these substitutes to state-taxed cigarettes more expensive, the loss of customers in response to the state tax increase would be less.

Question: Analyze the given case and find that who Are the Elastic Smokers? Provide justification to you answer.

In order to reduce hostility levels, twelve students were randomly assigned to three different types of therapy. After completing a therapy, each student was given a test that recorded hostility level. A lower score indicates lower hostility and vice-versa.

Calculate the sample variance (or standard deviation) for each therapy.

For Hartley's test of homogenity

calculate the test statistic F'.

For σ = 0.05, specify the critical region for Hartley's test of homogeneity and make a decision about H_o.

Find the P-value and compare to σ = 0.05.

1. Find the equation of a linear regression line for the data where age is the independent variable, x, and time is the dependent variable. (Enter a mathematical expression. Round your numerical answers to three decimal places.)

ŷ =

2. Using the equation from part (a), estimate the number of hours a person 30 years old spends on the internet. (Enter a number. Round your answer to the nearest hour.)

3. Find the linear correlation coefficient. (Enter a number. Round your answer to the nearest four decimal places.)

R=

Problem 2 – The plates of a parallel-plate capacitor are separated by a distance d = 0.2 m. There is vacuum between the plates. The voltage difference between the plates is 150 V. The capacitance of the plates is 3 μF.

a) (6 pts) Find the magnitude of the electric field between the plates (ignoring edge effects).

b) (12 pts) An alpha particle, which is doubly ionized helium, He2+ (charge = 2e where e is the elementary charge, mass = 4.7 × 10-27 kg) is released from rest at the positively charged plate. Find the speed of the alpha particle as it hits the negatively charged plate.

c) (6 pts) Find the magnitude of the total charge on one of the plates of the capacitor.

d) (6 pts) Find the total energy stored in the capacitor.

A call option has an exercise price of $30. The stock price is currently $27 and the appropriate interest rate is 6%. The option expires in exactly one year and the sigma (The return variability of underlying asset expressed as a decimal) is 0.50 or 50%.
At expiration the stock underlying the option is selling for $34.00. What do you do? What is your loss or gain?

Group of answer choices

A. Let the option expire unexercised since the $4.00 gain is less than the price we paid for the option.

B. Exercise the option and make a profit of $4.00 ($34.00 - $30.00).

C. Exercise the option and make a profit of between $2.00 and $4.00.

D. Exercise the option and make a profit of between $0.00 and $2.00.

E. Exercise the option and make a loss of between -$2.00 and $0.00.

Question 7 (1 point)

A survey asked subjects, "Should the government increase its spending on health?" 317 of those 340 who responded said "yes."

Test, at level 0.05, that the majority of people in the population would say "yes" to the survey question.

The test is

Question 7 options:

Question 8 (1 point)

A survey asked subjects, "Should the government increase its spending on health?" 317 of those 340 who responded said "yes."

Test, at level 0.05, that the majority of people in the population would say "yes" to the survey question.

The p-value is

Question 8 options:

Question 9 (1 point)

A survey asked subjects, "Should the government increase its spending on health?" 317 of those 340 who responded said "yes."

Test, at level 0.05, that the majority of people in the population would say "yes" to the survey question.

The conclusion of the test is

Question 9 options:

Question 10 (1 point)

A survey asked people who work full time, "How do you spend your time on a typical day?" 74% of 733 women and 55% of 1219 men reported spending some time on cooking and washing up.

What is a 95% confidence interval for the difference between the proportion of women and the proportion of men who spend some time on cooking and washing up during a typical day?

Question 10 options:

Question 11 (1 point)

A survey asked people who work full time, "How do you spend your time on a typical day?" 74% of 733 women and 55% of 1219 men reported spending some time on cooking and washing up.

Test, at significance level 0.05, that the proportion of women is greater than the proportion of men who spend some time on cooking and washing up during a typical day.

The test is

Question 11 options:

Question 12 (1 point)

A survey asked people who work full time, "How do you spend your time on a typical day?" 74% of 733 women and 55% of 1219 men reported spending some time on cooking and washing up.

Test, at significance level 0.05, that the proportion of women is greater than the proportion of men who spend some time on cooking and washing up during a typical day.

The p-value is

Question 12 options:

Question 13 (1 point)

A survey asked people who work full time, "How do you spend your time on a typical day?" 74% of 733 women and 55% of 1219 men reported spending some time on cooking and washing up.

Test, at significance level 0.05, that the proportion of women is greater than the proportion of men who spend some time on cooking and washing up during a typical day.

We can conclude that

Question 13 options:

I) A company bills customers for services rendered on account. Which of the following is part of recording this transaction?

a) Decrese service revenue

b) Decrease cash ; c) Increase account receivable ; d) Increase Unearned revenue

II) Adjusting entries always impact the income statement and the cash account

True or False?

III) Denise's Donuts has 12 Employees who are paid $15 per houir. At December 31, 2016, each of Denise's Donuts's employees had worked 20 hours which had not been paid or recorded. prior to adjustments, the company's trial balance showed $171400 in the wages expenses account. If Denise's Donuts makes the appropriate adjusting entry, how much will be reported on the December 31,2016 income statement as wage expense?

a) $167,800

b) $ 175,000

c) $3,600

d)$173,992

IV) A company provides services to clients during the period that are neither paid for, nor billed ( Invoiced) to the clients. What must the company do?

a) Collect the cash owed from the customer in order to recognize the revenue

b) record the revenues as a liability at the end of the year

c) Accrue revenue by making an adjusting entry at the end of the period

d) All provided answers are true

V) when adjusting for depreciation, which of the following is one effect of the adjustment

a) Accumulated depreciation is decreased

b) The asset's book value declines

c) The cost of the equipment declines

d) The market value of the equipment declines

On January 10, KH sold a mixer it purchased from MU for $80 cash and delivered it to a customer. KH has a 45-day return policy under which a customer can exchange a product for another product of the same type, quality, condition and price. The exchange policy requires that all returned products must be like new. Based on extensive historical experience, KH estimates that 2% of its products will be exchanged by customers for another product of the same price, condition, quality and type. KH estimates the cost of recovering any products will be insignificant. KH does not record any potential volume discounts until they are earned.

Requirements

? Record all initial accounting entries for KH for January 10 based on the current guidance on revenue recognition in ASC 605. Include references to the guidance to support your proposed accounting. Show any calculations you make to support your journal entries.

? Prepare a detailed explanation of each of the five steps of revenue recognition. Record all initial accounting entries for MU for January 10 based on the new guidance on revenue recognition in ASC 606. Include references to the guidance to support your proposed accounting. Show any calculations you make to support your journal entries.

? What, if anything, is the difference in revenue recognized for the month of January under ASC 605 and ASC 606?