On January 1, 2016, the following information was drawn from the accounting records of Carter Company: cash of $350; land of $2,250; notes payable of $650; and common stock of $1,300.

a. As of January 1, 2016, what percent of the assets were acquired from retained earnings? (Round your answer to 1 decimal place.)
b. Create an accounting equation using percentages instead of dollar amounts on the right side of the equation. (Round your percentage answers to 1 decimal place.)

c. During 2016, Carter Company earned cash revenue of $620, paid cash expenses of $360, and paid a cash dividend of $56. (Hint: It is helpful to record these events under an accounting equation before preparing the statements.) (Enter any decreases to account balances with a minus sign. Select "NA" if there is no effect on the "Account Titles for Retained Earnings".)

d. Prepare an income statement dated December 31, 2016.

Americans should learn to live without these two imported products. But, they should not have to give up these two imported products. Justify your reasons for each statement.(8-10 sentences)

This is a sample response to help clarify the question:

The first important import that the US should be able to live without is crude oil. The US produces a large percentage of the oil it needs and only needs roughly 25% more to meet its demand. If the US can cut its usage by that last 25% or so, we would be able to be self-sufficient and not have to rely on other countries for this import. Thirty seven percent of the energy the US consumes is from petroleum, increasing the usages of natural gas and renewable sources, not only will the US benefit but also the environment will as well.

The US should be able to live without importing automobiles. I say this because motor vehicles is one of the top imports of the US at the same time as being the number three ranked export. I like the ability for a consumer to buy what they like with the amounts of cars to choose from. However, there are so many domestic cars, ranging from economy cars to large luxury vehicles. If these are such a good export, we should be able to live with not bringing in cars from other countries and look to drive American made cars.

The two products that I think Americans should not have to live without are somewhat similar. Both are beverages, but enjoyed differently. The first is real good Columbian grown coffee, sometimes it is the best part of getting out of bed in the morning! The US imports about $6.3 billion in coffee each year, which is the highest at 19%. As we tend to be labeled as work-aholics, coffee is a big player is keeping us on the go. The second import I think Americans should not have to give up is the import of beer. Beer is made with such cultural influences, and some of the best beers around are imported. I have been to Germany twice, and I will say, their beer is unmatchable. Even with the increase in craft brewing in the US, ending the importing Canadian beers, European beers and Mexican beers is just something I do not want to ever see.

Clinical Trial

Between 2004 and 2007, the National Institutes of Health conducted a STEP vaccine clinical trial—Phase IIB "test-ofconcept" study.

The STEP study is the name of a clinical trial to test an experimental human immunodeficiency virus (HIV) vaccine. The STEP study enrolled 3,000 participants at sites in Australia, Brazil, Canada, the Dominican Republic, Haiti, Jamaica, Peru, Puerto Rico, and the United States. The study was designed to test an HIV vaccine, which aimed to stimulate production of immune system T-cells that can kill HIV-infected cells.

Based on its first evaluation of vaccine efficacy, the findings showed there were 24 cases of HIV infection among the 741 volunteers who received at least one dose of the investigational vaccine compared with 21 cases of HIV infection among the 762 volunteers who were vaccinated with the placebo. In volunteers who received at least two vaccinations, there were 19 cases of HIV infection among the 672 volunteers who received the investigational vaccine and 11 instances of HIV infection among the 691 volunteers who received placebo. The study investigators of the vaccine trials have decided to cease immunizations and are contacting study volunteers to inform them of the developments.

Reference:

National Institutes of Health (2007). National Institute of Allergy and Infectious Diseases: Immunizations are discontinued in two HIV vaccine trials. Retrieved from National Institute of Allergy and Infectious Diseases Pages/step_statement.aspx.

Using the South University Online Library or the Internet, research further on the STEP study, the STEP vaccine clinical trials, and their parameters.

Based on your research, understanding, and above information, answer the following questions:

Prior to beginning this study, how would you have described the risks and benefits of the study to participants?

What are the ethical issues surrounding this study at the beginning and when the decision was made to terminate the study?

Clinical Trial Between 2004 and 2007, the National Institutes of Health conducted a STEP vaccine clinical trial—Phase IIB "test-ofconcept" study. The STEP study is the name of a clinical trial to test an experimental human immunodeficiency virus (HIV) vaccine. The STEP study enrolled 3,000 participants at sites in Australia, Brazil, Canada, the Dominican Republic, Haiti, Jamaica, Peru, Puerto Rico, and the United States. The study was designed to test an HIV vaccine, which aimed to stimulate production of immune system T-cells that can kill HIV-infected cells. Based on its first evaluation of vaccine efficacy, the findings showed there were 24 cases of HIV infection among the 741 volunteers who received at least one dose of the investigational vaccine compared with 21 cases of HIV infection among the 762 volunteers who were vaccinated with the placebo. In volunteers who received at least two vaccinations, there were 19 cases of HIV infection among the 672 volunteers who received the investigational vaccine and 11 instances of HIV infection among the 691 volunteers who received placebo. The study investigators of the vaccine trials have decided to cease immunizations and are contacting study volunteers to inform them of the developments.

Reference: National Institutes of Health (2007). National Institute of Allergy and Infectious Diseases: Immunizations are discontinued in two HIV vaccine trials. Retrieved from National Institute of Allergy and Infectious Diseases Pages/step_statement.aspx.

Using the South University Online Library or the Internet, research further on the STEP study, the STEP vaccine clinical trials, and their parameters. Based on your research, understanding, and above information, answer the following questions:

Prior to beginning this study, how would you have described the risks and benefits of the study to participants?

What are the ethical issues surrounding this study at the beginning and when the decision was made to terminate the study?

Fundementals of human resource management

THE SOUTHERN WIDGET MANUFACTURING

Introduction

Founded in 2006, Southern Widget Manufacturing sets out to be the leading manufacturer of widgets in the world. Southern Widget has sales and distribution centers around the world including six centers in the US. The company is a member of the World Widget Manufacturing Association (WWMA).

Widgets are used as a display tool for several products including: PC, TV, auto parts, furniture, etc.

The Widget is a Bamboo based product making both environmentally and economically sound. Bamboo, like wood, is a natural composite material with a high strength-to-weight ratio useful for many applications Widgets it is considered one of the fastest-growing plants in the world.

Mission Statement

·       Provide a high-quality, affordable product

·       Create long term relationships with customers

·       Respond immediately to changing needs of customers

·       Achieve complete customer satisfaction

·       Improve our customer services continuously

·       Maintain excellent employee relations

·       Sustain community involvement

Vision

The vision at Southern Widget Manufacturing is to utilize our well trained and satisfied employee teams to deliver outstanding customer services.

Mission

At Southern Widget Manufacturing every person in our company is a member of the team and a team player, with expectations that they perform their duties to their fullest capacity and potential. Our objective is a commitment to the highest quality of widgets and customer service. The customer’s satisfaction is our major focus, reached through innovative and cost effective production. We will lead the Widget industry with well trained and satisfied employees and pleased customers.

Address any five of the Southern Widget Manufacturing Company following company issues: Please send to [email protected].

1)    Francisco works at Southern Widget as a welder. Although he is provided with protective goggles and a face mask, overalls and other types of protective clothing are not provided. After three months of work at Southern Widget, Francisco notices his skin becoming drier and gradually changing color. Alarmed with this development, he approaches his supervisor asking for details of the materials he works with. The supervisor declines to reveal any kind of information. What authority and laws can help Francisco file a claim?

2)    Virginia's boss, Luke, constantly uses sexually explicit language while communicating with his female subordinates. Though many female employees are bothered with this behavior, no one has ever complained for fear of negative repercussions. However, Virginia files a complaint against Luke with the Equal Employment Opportunity Commission (EEOC). Will this be considered as discriminatory behavior? Why or why not? Explain the prohibitions under Title VII for related behavior.

3)    Policy 137: The paint booths contain many toxic chemicals and are possibly harmful to unborn fetuses. In an abundance of caution Southern Widget will not allow its female employees of child bearing age to accept a position in the painting area. Employees working in the paint area make $5.00 more than other production employees. Is this considered discrimination, what is this called? Explain

4)    Southern Widget employees are being asked for their opinion on which type of insurance they would like to have. The choices are HMO or PPO. Explain the difference as they differ from traditional health care providers? Pretend you are an employee and give you choice, explain.

5)    You have been asked to write a FLSA policy. Be sure to include the three major parts as it might relate to Southern Widget.

6)    Thomas a Production Foreman was terminated. He has filed a Company grievance. On April 2, Thomas was told to open discharge valves into the Mississippi River which he refused to do. Additionally, he has been told by the company President, with witnesses, that he was such a good employee he had a job for life. Southern Widget’s rebuttal is that he refused a direct order and the company’s policy clearly state, that there are no contract employees. Does he have a case on either point? Discuss and serve as the arbitrator with the decision.

7)    John, the company Custodian, was in a horrific car accident as a child but has fully recovered from his injuries and is considered a very healthy individual. During the accident, John was burned and still has several facial scars that have disfigured his face. Many employees at John's company stare as he walks by and get distracted by his appearance. Is John protected by the ADA? Explain.

8)    The Widget Operators Local Unions 621 filed a petition to have Southern Widget create an alternative dispute resolution, including the most common techniques. Is that a good idea for the company, if so, what how should it include?

9)    Southern Widget is preparing to announce a new compensation system. Before the system goes live, as the HR Training Supervisor, you are required to do a company training on what goes into a compensation system. You will need to explain and discuss issues like: job structure, pay levels, motivation, cost control, etc.

10) As a future Supervisor what did you learn about Human Resources that you did not know before taking this course? What will you do to include this knowledge in your supervisory role?

Pastina Company sells various types of pasta to grocery chains as private label brands. The company's reporting year-end is December 31. The unadjusted trial balance as of December 31, 2021, appears below.

Information necessary to prepare the year-end adjusting entries appears below.

1. Depreciation on the office equipment for the year is $11,700.
2. Employee salaries are paid twice a month, on the 22nd for salaries earned from the 1st through the 15th, and on the 7th of the following month for salaries earned from the 16th through the end of the month. Salaries earned from December 16 through December 31, 2021, were $1,650.
3. On October 1, 2021, Pastina borrowed $53,400 from a local bank and signed a note. The note requires interest to be paid annually on September 30 at 12%. The principal is due in 10 years.
4. On March 1, 2021, the company lent a supplier $23,400 and a note was signed requiring principal and interest at 8% to be paid on February 28, 2022.
5. On April 1, 2021, the company paid an insurance company $9,400 for a one-year fire insurance policy. The entire $9,400 was debited to prepaid insurance.
6. $980 of supplies remained on hand at December 31, 2021.
7. A customer paid Pastina $3,700 in December for 1,600 pounds of spaghetti to be delivered in January 2022. Pastina credited deferred sales revenue.
8. On December 1, 2021, $2,700 rent was paid to the owner of the building. The payment represented rent for December 2021 and January 2022 at $1,350 per month. The entire amount was debited to prepaid rent.

1. & 2. Post the unadjusted balances and adjusting entires into the appropriate t-accounts.

5. Prepare closing entries. (If no entry is required for a particular transaction, select "No journal entry required" in the first account field. Do not round intermediate calculations. Round your final answers to nearest whole dollar.)

6. Prepare a post-closing trial balance. (Do not round intermediate calculations. Round your final answers to nearest whole dollar.)

-------------------------------------------------------------------------------------------------------------------------------------------------------

Pastina Company sells various types of pasta to grocery chains as private label brands. The company's reporting year-end is December 31. The unadjusted trial balance as of December 31, 2021, appears below.

Information necessary to prepare the year-end adjusting entries appears below.

1. Depreciation on the office equipment for the year is $10,300.
2. Employee salaries are paid twice a month, on the 22nd for salaries earned from the 1st through the 15th, and on the 7th of the following month for salaries earned from the 16th through the end of the month. Salaries earned from December 16 through December 31, 2021, were $900.
3. On October 1, 2021, Pastina borrowed $50,600 from a local bank and signed a note. The note requires interest to be paid annually on September 30 at 12%. The principal is due in 10 years.
4. On March 1, 2021, the company lent a supplier $20,600 and a note was signed requiring principal and interest at 8% to be paid on February 28, 2022.
5. On April 1, 2021, the company paid an insurance company $6,600 for a two-year fire insurance policy. The entire $6,600 was debited to prepaid insurance.
6. $560 of supplies remained on hand at December 31, 2021.
7. A customer paid Pastina $2,300 in December for 900 pounds of spaghetti to be delivered in January 2022. Pastina credited deferred sales revenue.
8. On December 1, 2021, $1,200 rent was paid to the owner of the building. The payment represented rent for December 2021 and January 2022 at $600 per month. The entire amount was debited to prepaid rent.

3. Prepare an adjusted trial balance. (Do not round intermediate calculations. Round your final answers to nearest whole dollar.)

Adjusted Trial Balance
Debit Credit

Reba Dixon is a fifth-grade school teacher who earned a salary of $38,000 in 2020. She is 45 years old and has been divorced for four years. She receives $1,200 of alimony payments each month from her former husband (divorced in 2016). Reba also rents out a small apartment building. This year Reba received $50,000 of rental payments from tenants and she incurred $19,500 of expenses associated with the rental. Reba and her daughter Heather (20 years old at the end of the year) moved to Georgia in January of this year. Reba provides more than one-half of Heather’s support. They had been living in Colorado for the past 15 years, but ever since her divorce, Reba has been wanting to move back to Georgia to be closer to her family. Luckily, last December, a teaching position opened up and Reba and Heather decided to make the move. Reba paid a moving company $2,110 to move their personal belongings, and she and Heather spent two days driving the 1,480 miles to Georgia. Reba rented a home in Georgia. Heather decided to continue living at home with her mom, but she started attending school full time in January and throughout the rest of the year at a nearby university. She was awarded a $3,150 partial tuition scholarship this year, and Reba helped out by paying the remaining $500 tuition cost. If possible, Reba thought it would be best to claim the education credit for these expenses. Reba wasn't sure if she would have enough items to help her benefit from itemizing on her tax return. However, she kept track of several expenses this year that she thought might qualify if she was able to itemize. Reba paid $6,100 in state income taxes and $13,150 in charitable contributions during the year. She also paid the following medical-related expenses for herself and Heather: Insurance premiums $ 8,350 Medical care expenses $ 1,100 Prescription medicine $ 400 Nonprescription medicine $ 100 New contact lenses for Heather $ 200 Shortly after the move, Reba got distracted while driving and she ran into a street sign. The accident caused $950 in damage to the car and gave her whiplash. Because the repairs were less than her insurance deductible, she paid the entire cost of the repairs. Reba wasn’t able to work for two months after the accident. Fortunately, she received $2,000 from her disability insurance. Her employer, the Central Georgia School District, paid 60 percent of the premiums on the policy as a nontaxable fringe benefit and Reba paid the remaining 40 percent portion. A few years ago, Reba acquired several investments with her portion of the divorce settlement. This year she reported the following income from her investments: $2,200 of interest income from corporate bonds and $1,600 interest income from City of Denver municipal bonds. Overall, Reba’s stock portfolio appreciated by $12,600, but she did not sell any of her stocks. Heather reported $6,300 of interest income from corporate bonds she received as gifts from her father over the last several years. This was Heather’s only source of income for the year. Reba had $10,500 of federal income taxes withheld by her employer. Heather made $1,050 of estimated tax payments during the year. Reba did not make any estimated payments. Reba had qualifying insurance for purposes of the Affordable Care Act (ACA). a. Determine Reba’s federal income taxes due or taxes payable for the current year. Use Tax Rate Schedule for reference. (Do not round intermediate values. Leave no answer blank. Enter zero if applicable.)

The following contingency table shows the distribution of grades earned by students taking a mid term test in an MBA​ class, categorized by the number of hours the students spent studying for the test. Complete parts a. and b. below.

Grade

Time Spent Studying

A

B

C

Less than 3 hours

6

16

9

3–5

hours

12

11

8

More than 5 hours

21

11

7

a. Using

α=0.01​,

perform a​ chi-square test to determine if a​ student's grade on the test and the hours spent studying for it are independent of one another.

Identify the null and alternative hypotheses for a​ chi-square test of independence based on the information in the table. Choose the correct answer below.

A.

H0​:

The variables​ A, B,​ C, less than 3​ hours,

3–5

​hours, and more than 5 hours are independent.

H1​:

At least one of the variables is not independent.

B.

H0​:

Grade and time spent studying are not independent of one another.

H1​:

Grade and time spent studying are independent of one another.

C.

H0​:

The variables​ A, B,​ C, less than 3​ hours,

3–5

​hours, and more than 5 hours are independent.

H1​:

None of the variables are independent.

D.

H0​:

Grade and time spent studying are independent of one another.

H1​:

Grade and time spent studying are not independent of one another. Your answer is correct.

Find the​ chi-square test statistic.

χ2=nothing

​(Round to two decimal places as​ needed.)

C. Wright Mills implored us to use our sociological imaginations by connecting our seemingly 'private troubles' to 'public issues.' In this week's essay, I'd like you to reflect on a particular 'private trouble' in your life. However, instead of thinking about this trouble--as we so often do--at the individual level (e.g. 'It is my fault', 'This is my problem,' or 'I'm the only one that can fix this'), I'd like you to use your sociological imagination by connecting its cause to the more macro-level of 'public issues.' In short, what is the social, cultural, political, and/or economic roots of this 'private trouble'? Finally, how can we, as a society, work to address this 'public issue.'