For each of the following state whether the supply or demand for loanable funds is increasing or decreasing.

a. Individuals cut back on their travel and entertainment spending for fear of catching the coronavirus.

b. Businesses expect the recession to depress profits next year

c. New technological advances make electric cars cost competitive with internal combustion cars

d. Businesses delay their investment plans until after the November 2020 election.

e. There is political unrest in a foreign country

f. State and local governments increase spending to fight the coronavirus

Angela, Inc., holds a 90 percent interest in Corby Company. During 2020, Corby sold inventory costing $99,900 to Angela for $111,000. Of this inventory, $56,600 worth was not sold to outsiders until 2021. During 2021, Corby sold inventory costing $96,800 to Angela for $121,000. A total of $51,500 of this inventory was not sold to outsiders until 2022. In 2021, Angela reported separate net income of $219,000 while Corby's net income was $114,500 after excess amortizations. What is the noncontrolling interest in the 2021 income of the subsidiary?

On January 1, 2020, Kingbird Inc. issued $350,000 of 6-year, 3% bonds to yield a market interest rate of 4%. Interest is paid every quarter on January 1, April 1, July 1, and October 1. Kingbird has a calendar year end. After recording the December 31, 2021 accrual for quarterly interest, and making the payment on January 1, 2022, all the bonds were redeemed at 101.

Prepare a bond amortization schedule for the first two years (8 interest periods)

Which of the following is TRUE regarding changes to 2020 tax law for individuals?

Employers may pay up to $5,250 toward an employee's student loan principal and interest. This amount may be excluded from the employee's taxable income.

Individuals may claim up to $500 of charitable contributions as an above-the-line deduction.

Extended unemployment benefits are not taxable income.

A high-deductible health plan (HDHP) may only pay for remote medical care for COVID-19-related treatment after the plan deductible is met.

The following accounts, among others, appeared on ZZ Company's balance
sheet at January 1, 2020 and December 31, 2020:

                  January 1, 2020       December 31, 2020

Accounts receivable    48,000                63,000
Utilities payable      20,000                26,000
Notes payable          71,000                80,000
Common stock           30,000                90,000
Retained earnings      22,000                78,000

The following information was taken from ZZ Company's 2020 income
statement:

Sales revenue                   $500,000
Cost of goods sold               280,000
Other expenses                   120,000
Net income                      $100,000

Calculate the amount of cash collected from customers during 2020.

The following accounts, among others, appeared on ZZ Company's balance
sheet at January 1, 2020 and December 31, 2020:

                  January 1, 2020       December 31, 2020

Accounts receivable    48,000                63,000
Utilities payable      20,000                26,000
Notes payable          71,000                80,000
Common stock           30,000                90,000
Retained earnings      22,000                78,000

The following information was taken from ZZ Company's 2020 income
statement:

Sales revenue                   $500,000
Cost of goods sold               280,000
Other expenses                   120,000
Net income                      $100,000

Calculate the amount of cash collected from customers during 2020.

Carla Company sponsors a defined benefit pension plan. The corporation’s actuary provides the following information about the plan.

Prepare a 2020 pension worksheet. (Enter all amounts as positive.)

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List of Accounts

Prepare the journal entries at December 31, 2020, to record pension expense and related pension transactions. (If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Credit account titles are automatically indented when the amount is entered. Do not indent manually.)

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Multiple myeloma, or blood plasma cancer, is characterized by increased blood vessel formulation (angiogenesis) in the bone marrow that is a predictive factor in survival. One treatment approach used for multiple myeloma is stem cell transplantation with the patient's own stem cells. The data show below represents the bone marrow microvessel density for patients who has a complete response to the stem cell transplant (as measured by blood and urine tests). The measurements were taken immediately prior to the stem cell transplant and at the time the complete response was determined. Patient Before After 1 158 284 2 186 214 3 202 101 4 353 227 5 416 290 6 426 176 7 441 290

(a) At the 0.05 level of significance, is there evidence that the mean bone marrow microvessel density is higher before the stem cell transplant than after the stem cell transplant? (Be sure to include the null and alternate hypotheses as well as the value of the test statistic. State the decision rule used and write you conclusion in a complete sentence.)

(b) Interpret the meaning of the p-value in (a).

(c) Construct and interpret a 95% confidence interval estimate of the mean difference in bone marrow microvessel density before and after the stem cell transplant.

(d) What assumption is necessary about the population distribution in order to perform the test in (a)?