What is the non-profit sector and what is it's importance in the United States? What is the present size and scope? List 3-5 key trends in the non-profit sector that have changed in the last decade. What are the present recommendations on key policy issues for the non-profit sector to continue to strengthen its impact on key issues in the United States?

In a study conducted of proctored and non- proctored algebra tests, researches obtained the following results:

Proctored: n=30, x=74.30, s= 12.87

Non Proctored: n=32, x= 74.26, s= 18.15

Use 0.01 to test the claim that students taking non proctored tests get a higher mean that those taking proctored tests.

Rockwell Corporation uses a periodic inventory system and has used the FIFO cost method since inception of the company in 1979. In 2018, the company decided to switch to the average cost method. Data for 2018 are as follows: Beginning inventory, FIFO (5,500 units @ $26) $ 143,000 Purchases: 5,500 units @ $32 $ 176,000 4,000 units @ $36 144,000 320,000 Cost of goods available for sale $ 463,000 Sales for 2018 (9,000 units @ $72) $ 648,000 Additional Information: The company's effective income tax rate is 40% for all years. If the company had used the average cost method prior to 2018, ending inventory for 2017 would have been $115,000. 6,000 units remained in inventory at the end of 2018. Required: 1. Ignoring income taxes, prepare the 2018 journal entry to adjust the accounts to reflect the average cost method. 2. What is the effect of the change in methods on 2018 net income?

Table 1: GDP Country X: 2017

Table 2: GDP Country X: 2018

1. You are interested in calculating real GDP growth in Country X. (Use Table 1 and 2 to answer the following.)

a. Calculate the Laspeyres Quantity Index (from 2017 to 2018)

b. Calculate the Paasche Quantity Index (from 2017 to 2018)

c. Calculate the Fisher Quantity Index (from 2017 to 2018)

2. You are interested in calculating real GDP growth in Country X. (Use Table 1 and 2 to answer the following.)

a. Calculate the Laspeyres Price Index (from 2017 to 2018)

b. Calculate the Paasche Price Index (from 2017 to 2018)

c. Calculate the Fisher Price Index (from 2017 to 2018)

Matthew, Inc. owns 30 percent of the outstanding stock of Lindman Company and has the ability to significantly influence the investee’s operations and decision making. On January 1, 2018, the balance in the Investment in Lindman account is $336,000. Amortization associated with this acquisition is $17,100 per year. In 2018, Lindman earns an income of $126,000 and declares cash dividends of $31,500. Previously, in 2017, Lindman had sold inventory costing $31,800 to Matthew for $53,000. Matthew consumed all but 25 percent of this merchandise during 2017 and used the rest during 2018. Lindman sold additional inventory costing $39,200 to Matthew for $70,000 in 2018. Matthew did not consume 40 percent of these 2018 purchases from Lindman until 2019.

What amount of equity method income would Matthew recognize in 2018 from its ownership interest in Lindman?

What is the equity method balance in the Investment in Lindman account at the end of 2018?

Fuzzy Monkey Technologies, Inc., purchased as a long-term investment $80 million of 6% bonds, dated January 1, on January 1, 2018. Management has the positive intent and ability to hold the bonds until maturity. For bonds of similar risk and maturity the market yield was 8%. The price paid for the bonds was $64 million. Interest is received semiannually on June 30 and December 31. Due to changing market conditions, the fair value of the bonds at December 31, 2018, was $70 million.

Required:

1. Record Fuzzy Monkey’s investment on bonds on January 1, 2018.

2. Record the interest revenue on June 30, 2018.

3. Record the interest revenue on December 31, 2018.

4. At what amount will Fuzzy Monkey report its investment in the December 31, 2018, balance sheet?

5. How would Fuzzy Monkey's 2018 statement of cash flows be affected by this investment?

Kane Candy Company offers a coffee mug as a premium for every ten $1 candy bar wrappers presented by customers together with $2. The purchase price of each mug to the company is $1.80; in addition it costs $1.20 to mail each mug. The results of the premium plan for the years 2017 and 2018 are as follows (assume all purchases and sales are for cash):

Indicate the account names, amounts, and classifications of the items related to the premium plan that would appear on the Kane Candy Company balance sheet and income statement at the end of 2017 and 2018.

Balance Sheet

Income Statement

Following is the information of Huntington Co. income statement

                                      2018 2019
Sales                        $15.000 $12.300
COGS                          12.000 7.500
Gross profit                3.000 5.000
Operating expenses 2.000 3.000
Income before taxes 1.000 2.000
Income taxes (30%) 300 700
Net income                 700 1.400
In 2018 Huntington applied FIFO method for its inventory, and starting in 2019 Huntington
decised to change the method to the average method. Following is the inventory in 2018
according to FIFO and average:
                       31/12/2018
                      FIFO Average
Inventory $3.400 $3.600

On 1 January 2018 retained earnings balance was reported $ 1.750

Instructions:
a. Compute the inventory available for sale in 2018 according to FIFO and average,
determine the effect to the COGS (average).
b. Prepare the restatement the 2018 income statement.
c. Prepare the correction journal needed in 1/1/2019.
d. Prepare the restatement of retained earnings.

Deal Leasing leased equipment to Hand Company on January 1, 2018. The lease payments were calculated to provide the lessor a 8% return. Eight annual lease payments of $57,000 are due at the beginning of each year beginning January 1, 2018. The present value of an annuity due of $1 at 8 for Eight periods is 6.20637.

Required: Consider this to be a finance lease. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Round your answers to the nearest whole dollar amounts.) 1. Prepare the journal entries to record the lease by Hand (lessee) at January 1, 2018.

-Record the lease January 01, 2018

-Record the cash payment January 01,2018 2.

2. Prepare the journal entries to record the lease by Hand (lessee) at December 31, 2018, the end of the first reporting period

-Record accrued interest December 31, 2018

-Record the amortization expense December 31, 2018

2.  Suppose that a hypothetical “consumer market basket” consists only

of goods B and C, in the quantities:  B = 10 and C = 5.  

Use 2018 as a base year (i.e., 2018 = 100).

                                                                   Year 2017      Year 2018     Year 2019

Quantity of Good A                                            3                      4                     5

Price of Good A                                                 $9                  $10                $11

Quantity of Good B                                          10                    10                   10

Price of Good B                                                 $2                    $4                   $6

Quantity of Good C                                            2                      4                      6

Price of Good C                                                 $5                    $6                    $7

e.  If an individual’s nominal income rises 50% from 2018 to 2019, what is the growth rate of their real income?

f.  If the base year is 2017 (instead of 2018), what will be the new CPI values for all three years?

g.  With the “updated” CPI values from question “f”, will the inflation rates for 2017 - 2018, and 2018 - 2019 change, or stay the same?  Justify your answer.