Questions
In the town of Hooterville, all the downtown stores are identical and all the people who...

In the town of Hooterville, all the downtown stores are identical and all the people who shop downtown are identical. The town can earn revenue in three ways: • It can charge each store a montly license fee. • It can charge an excise tax on the store’s merchandise. • It can charge shoppers to park on the streets (the only way to get downtown is to drive, so every shopper pays the parking fee). The town’s goal is to maximize its total revenue from all three sources. a) How big should the excise tax be? b) Suppose a court ruling requires the town to provide free parking. Now how big should the excise tax be? If necessary, you can answer in terms of labeled portions of graphs. If you do this, please be sure to say why these portions of your graph are relevant to the problem.

In: Economics

1) Present, in journal form, the adjustments that would be made on July 31, 2018, the...

1) Present, in journal form, the adjustments that would be made on July 31, 2018, the end of the fiscal year, for each of the following.

A. The supplies inventory on August 1, 2017 was $9,350. Supplies costing $24,150 were acquired during the year and charged to the supplies inventory. A count on July 31, 2018 indicated supplies on hand of $8,810.

B. On April 30, a ten-month, 6% note for $30,000 was received from a customer

C. On May 1, $20,000 was collected as rent for one year and a nominal (temporary) account was credited.

I have a question about C.

Answer said 20,000 *(9/12) = 15,000

Rent Revenue (Corrects for prior entry) 15,000

Unearned Rent Revenue 15,000

But Why do we have to use nine instead of three

Because I think May 1 - July 31 has three month

In: Accounting

Kalamazoo Paper Company has three divisions: Recycling, Cardboard, and Paper. In order to determine the profit...

Kalamazoo Paper Company has three divisions: Recycling, Cardboard, and Paper. In order to determine the profit provided by each division, the company allocates all costs to the three divisions. As a result, for the year ended December 31, 2015, Kalamazoo reported a profit of $50,000 for Recycling, a profit of $60,000 for Paper, and a loss of $30,000 for Cardboard. If Cardboard has avoidable costs of $40,000 and unavoidable costs of $50,000 which of the following actions should be taken by the company? Select one:

a. Eliminate the Cardboard Division because the division's unavoidable costs exceed the amount of the loss.

b. Continue the Cardboard Division because the revenue generated by the division exceeds the avoidable costs.

c. Continue the Cardboard Division because the revenue generated by the division exceeds the unavoidable costs.

d. Eliminate the Cardboard Division because the company's total net income would increase by $30,000.

In: Accounting

The Hawkeye Limos reported the following information related to limousine rentals for 2017 and 2018: 2018...

  1. The Hawkeye Limos reported the following information related to limousine rentals for 2017 and 2018:

2018

2017

Limo rental revenue

$ 150,000

$    175,000

Bad debt expense

?

$            900

Accounts receivable

$    34,375

$      15,600

Allowance for doubtful accounts

?

$                  -

Unearned rent revenue

$      4,500

$         6,500

Write offs

$        400

$           900

Aging of Accounts receivable at 12/31.

Not yet due

$    13,395

$      15,600

From 1 to 30 days past due

          4,500

From 31 to 60 days past due

          3,400

Over 60 days past due

       13,080

$    34,375

$      15,600

  1. Prepare the journal entries to record the following selected transactions from December 2018:
    1. Received an advance payment of $500 for a Valentine’s Day rental.
    1. Received $750 for a New Year’s Eve rental.
    1. Wrote off a $400 receivable from a Halloween rental.
  4. Assuming all rentals are on credit, calculate the following:
    1. The accounts receivable turnover ratio for 2017. Accounts receivable totaled $14,000 at 12/31/16.
    1. Days credit sales outstanding at 12/31/17.
  6. Hawkeye estimates collection rates on accounts receivable will be 100% for accounts not yet due, 98% for accounts between 1 and 30 days past due, 95% for accounts between 31 and 60 days past due, and 75% for accounts more than 60 days past due.
    1. Calculate the allowance for doubtful accounts at 12/31/18, and 2018 bad debt expense using the percentage of credit sales method. Assume all sales are credit sales.
    1. Calculate the allowance for doubtful accounts at 12/31/18, and 2018 bad debt expense using the aging of accounts receivable method.
    1. Which set of estimate is preferable? Explain why. Your answer should be specific to Hawkeye’s situation.
    1. Calculate cash collected from customers assuming Hawkeye uses the aging method to calculate bad debt expense.
    1. Show what would have been be reported under operating cash flows using the indirect method for 2018. Assume Hawkeye chose the percentage of sales method to estimate bad debts.

In: Accounting

What are the three major elements of product costs in a manufacturing company? Explain the difference...

  1. What are the three major elements of product costs in a manufacturing company?
  2. Explain the difference between a product cost and a period cost.
  3. Distinguish between (a) a variable cost, (b) a fixed costs, and (c) a mixed cost AND provide an example of a product/service that contains each of the three different types of costs

In: Economics

I dont know what to do: Is there a significant difference between drug type and mean...

I dont know what to do: Is there a significant difference between drug type and mean relative-change* of Cholesterol from screening to follow up?

* Relative Change = (Follow up - Initial) / Initial

Patient ID Drug Stomach Pain Sex Age Height Systolic BP Diastolic BP Exercise Coffee Consumption Alcohol Consumption Weight Weight3 Cholesterol Cholesterol3 Triglycerides Triglycerides3 HDL HDL3 LDL LDL3
1 B Yes F 22 67.13 124 78 180 1 > 2 138 145 197 182 152 135 43 34 151.6 145.8
2 B Yes M 22 63 122 70 0 2 < 2 115 122 181 151 59 57 60 48 120.1 102.1
3 B No F 22 72 124 80 90 0 < 2 190 190 190 169 117 86 41 37 147.1 130.6
4 A Yes M 22 69 120 70 120 5 > 2 115 105 131 133 54 72 58 67 72.1 64.8
5 B Yes M 25 73 138 92 40 2 > 2 160 165 172 166 93 139 49 40 121.5 123.8
6 B Yes M 22 67.5 100 72 0 0 < 2 150 165 233 229 176 144 42 38 188.2 188.7
7 A Yes M 23 73 128 78 0 2 < 2 154 150 194 148 79 80 49 26 143.7 120.7
8 A No M 24 71.5 128 74 90 0 < 2 185 187 155 148 89 73 45 50 108.6 96.8
9 A Yes F 23 73.5 124 82 60 1 > 2 178 166 234 175 307 88 28 28 201.1 145.6
10 A Yes M 22 72.25 130 88 40 0 0 158 163 201 203 88 112 50 40 149.6 161.2
11 A No M 26 73 130 86 0 1 < 2 188 195 258 276 299 199 30 21 223.2 251.8
12 A No M 22 64.25 120 74 0 0 > 2 150 150 212 228 52 61 69 60 142.2 167
13 B Yes M 22 64.25 120 74 0 4 0 123 131 137 165 158 147 29 39 105.5 123.6
14 B No F 27 65 100 68 180 2 > 2 138 133 285 229 98 89 69 61 214.4 166.6
15 A No M 22 59 124 84 180 0 > 2 143 140 218 172 101 96 46 21 170.4 149.5
16 B Yes F 24 67.5 122 68 210 1 < 2 139 151 167 152 71 91 51 37 114.9 113.5
17 A Yes F 22 71.5 118 70 60 0 < 2 156 155 170 158 81 91 42 40 126.7 116.5
18 A Yes M 22 69 125 76 180 0 < 2 150 154 157 140 86 88 37 34 118.6 104.6
19 A Yes M 24 68 122 74 100 5 > 2 135 128 215 176 71 53 62 46 151.9 129.2
20 A No M 25 74 134 88 180 0 < 2 219 220 194 207 71 130 40 33 152.9 171.9
21 A No F 28 71 110 80 60 2 > 2 173 173 207 231 107 145 53 47 152.3 181.7
22 A Yes M 22 68.5 116 84 280 0 0 151 165 198 199 80 126 44 46 152.7 151
23 A Yes M 23 75.5 124 73 60 1 0 182 183 189 262 47 230 50 31 138.2 227.3
24 A Yes M 24 70 124 72 360 0 < 2 161 163 216 203 95 121 35 28 179.5 173.1
25 B Yes F 22 72 126 88 120 0 0 176 173 212 173 140 88 43 35 166.8 136.6
26 B Yes F 26 72.5 138 82 0 0 < 2 177 175 175 169 77 78 46 52 127.8 115.8
27 B Yes F 23 72 120 68 60 1 < 2 174 197 158 172 57 126 34 30 123.1 140
28 B No F 20 74 118 76 0 2 0 234 217 115 146 95 110 26 33 87.5 111.2
29 B No F 28 66 138 82 120 0 0 150 160 228 224 480 373 29 28 191.3 190
30 A Yes F 23 74 124 76 60 0 < 2 149 150 164 164 94 92 43 44 119.5 118.5
31 B Yes M 22 70 118 72 0 0 < 2 156 160 149 149 155 65 37 29 109.5 119
32 A Yes F 23 71.5 124 70 180 3 < 2 168 170 211 183 63 60 52 44 158 138
33 B Yes F 22 73 122 76 0 0 < 2 182 170 191 185 99 101 39 39 150.4 144.4
34 B No F 40 75 128 80 0 5 > 2 217 230 277 243 240 218 71 28 202.2 211.5
35 B No M 22 65 128 82 120 1 < 2 190 201 178 191 52 77 41 56 136.2 133.8
36 A Yes F 25 69 124 78 150 5 < 2 159 154 157 112 93 71 41 38 114.5 72.9
37 A No M 22 73 126 73 180 0 0 191 199 151 155 44 94 42 44 108.3 109.5
38 A No M 24 59.5 122 72 100 0 0 140 140 209 165 71 71 41 42 166.9 121.9
39 B No F 23 71 116 72 120 0 0 183 186 209 147 95 124 37 29 170.5 116
40 B Yes F 26 71 132 78 90 0 0 162 167 197 216 47 64 43 43 153.2 172
41 B No M 29 69.5 130 82 0 3 < 2 181 169 226 208 126 86 38 36 186 170.6
42 B No F 30 70 112 72 0 5 < 2 196 199 127 139 116 69 32 31 93.1 106.9
43 A No M 25 65.5 120 72 180 2 > 2 141 143 180 162 85 93 41 46 137.6 114.5
44 B No F 25 74 117 77 0 2 0 230 217 117 146 95 110 25 33 87.5 111.2
45 A Yes M 24 70 122 76 100 5 > 2 135 128 215 177 71 53 62 46 151.9 129.2

In: Math

Scroll the bottom arrows to see the whole table. if I make it any smaller you...

Scroll the bottom arrows to see the whole table. if I make it any smaller you will not be able to see the numbers clearly: Is there a relationship between the relative-change* in weight and the relative-change* in Cholesterol level from screening to follow up for patients taking Drug A?

* Relative Change = (Follow up - Initial) / Initial

Patient ID Drug Stomach Pain Sex Age Height Systolic BP Diastolic BP Exercise Coffee Consumption Alcohol Consumption Weight Weight3 Cholesterol Cholesterol3 Triglycerides Triglycerides3 HDL HDL3 LDL LDL3
1 B Yes F 22 67.13 124 78 180 1 > 2 138 145 197 182 152 135 43 34 151.6 145.8
2 B Yes M 22 63 122 70 0 2 < 2 115 122 181 151 59 57 60 48 120.1 102.1
3 B No F 22 72 124 80 90 0 < 2 190 190 190 169 117 86 41 37 147.1 130.6
4 A Yes M 22 69 120 70 120 5 > 2 115 105 131 133 54 72 58 67 72.1 64.8
5 B Yes M 25 73 138 92 40 2 > 2 160 165 172 166 93 139 49 40 121.5 123.8
6 B Yes M 22 67.5 100 72 0 0 < 2 150 165 233 229 176 144 42 38 188.2 188.7
7 A Yes M 23 73 128 78 0 2 < 2 154 150 194 148 79 80 49 26 143.7 120.7
8 A No M 24 71.5 128 74 90 0 < 2 185 187 155 148 89 73 45 50 108.6 96.8
9 A Yes F 23 73.5 124 82 60 1 > 2 178 166 234 175 307 88 28 28 201.1 145.6
10 A Yes M 22 72.25 130 88 40 0 0 158 163 201 203 88 112 50 40 149.6 161.2
11 A No M 26 73 130 86 0 1 < 2 188 195 258 276 299 199 30 21 223.2 251.8
12 A No M 22 64.25 120 74 0 0 > 2 150 150 212 228 52 61 69 60 142.2 167
13 B Yes M 22 64.25 120 74 0 4 0 123 131 137 165 158 147 29 39 105.5 123.6
14 B No F 27 65 100 68 180 2 > 2 138 133 285 229 98 89 69 61 214.4 166.6
15 A No M 22 59 124 84 180 0 > 2 143 140 218 172 101 96 46 21 170.4 149.5
16 B Yes F 24 67.5 122 68 210 1 < 2 139 151 167 152 71 91 51 37 114.9 113.5
17 A Yes F 22 71.5 118 70 60 0 < 2 156 155 170 158 81 91 42 40 126.7 116.5
18 A Yes M 22 69 125 76 180 0 < 2 150 154 157 140 86 88 37 34 118.6 104.6
19 A Yes M 24 68 122 74 100 5 > 2 135 128 215 176 71 53 62 46 151.9 129.2
20 A No M 25 74 134 88 180 0 < 2 219 220 194 207 71 130 40 33 152.9 171.9
21 A No F 28 71 110 80 60 2 > 2 173 173 207 231 107 145 53 47 152.3 181.7
22 A Yes M 22 68.5 116 84 280 0 0 151 165 198 199 80 126 44 46 152.7 151
23 A Yes M 23 75.5 124 73 60 1 0 182 183 189 262 47 230 50 31 138.2 227.3
24 A Yes M 24 70 124 72 360 0 < 2 161 163 216 203 95 121 35 28 179.5 173.1
25 B Yes F 22 72 126 88 120 0 0 176 173 212 173 140 88 43 35 166.8 136.6
26 B Yes F 26 72.5 138 82 0 0 < 2 177 175 175 169 77 78 46 52 127.8 115.8
27 B Yes F 23 72 120 68 60 1 < 2 174 197 158 172 57 126 34 30 123.1 140
28 B No F 20 74 118 76 0 2 0 234 217 115 146 95 110 26 33 87.5 111.2
29 B No F 28 66 138 82 120 0 0 150 160 228 224 480 373 29 28 191.3 190
30 A Yes F 23 74 124 76 60 0 < 2 149 150 164 164 94 92 43 44 119.5 118.5
31 B Yes M 22 70 118 72 0 0 < 2 156 160 149 149 155 65 37 29 109.5 119
32 A Yes F 23 71.5 124 70 180 3 < 2 168 170 211 183 63 60 52 44 158 138
33 B Yes F 22 73 122 76 0 0 < 2 182 170 191 185 99 101 39 39 150.4 144.4
34 B No F 40 75 128 80 0 5 > 2 217 230 277 243 240 218 71 28 202.2 211.5
35 B No M 22 65 128 82 120 1 < 2 190 201 178 191 52 77 41 56 136.2 133.8
36 A Yes F 25 69 124 78 150 5 < 2 159 154 157 112 93 71 41 38 114.5 72.9
37 A No M 22 73 126 73 180 0 0 191 199 151 155 44 94 42 44 108.3 109.5
38 A No M 24 59.5 122 72 100 0 0 140 140 209 165 71 71 41 42 166.9 121.9
39 B No F 23 71 116 72 120 0 0 183 186 209 147 95 124 37 29 170.5 116
40 B Yes F 26 71 132 78 90 0 0 162 167 197 216 47 64 43 43 153.2 172
41 B No M 29 69.5 130 82 0 3 < 2 181 169 226 208 126 86 38 36 186 170.6
42 B No F 30 70 112 72 0 5 < 2 196 199 127 139 116 69 32 31 93.1 106.9
43 A No M 25 65.5 120 72 180 2 > 2 141 143 180 162 85 93 41 46 137.6 114.5
44 B No F 25 74 117 77 0 2 0 230 217 117 146 95 110 25 33 87.5 111.2
45 A Yes M 24 70 122 76 100 5 > 2 135 128 215 177 71 53 62 46 151.9 129.2

In: Math

In a study reported in the September 24, 2007, issue of the Archives of Internal Medicine,...

In a study reported in the September 24, 2007, issue of the Archives of Internal Medicine, German researchers described a study conducted on 1162 German adults suffering from chronic low-back pain. These subjects were randomly assigned to one of three groups: real acupuncture, sham acupuncture, and conventional therapy. Researchers found that 47% of subjects in the real acupuncture group improved, compared to 44% in the sham acupuncture group and 27% in the conventional therapy group.

a. Identify the observational units in this study

b. Identify the explanatory variable

b.i. Is the explanatory quantitative, categorical or binary?

c. Identify the response variable

c.i. Is the response variable quantitative, categorical, or binary?

d. Is this an observational study or an experiment? Explain briefly.

e. Did this study make use of random assignment or random sampling, or both, or neither? Explain briefly.

h. If the researchers find that the difference in improvement percentages between the real acupuncture group and the conventional therapy group is significant, would it be appropriate to conclude that real acupuncture causes a higher improvement rate than conventional therapy? Explain based on whether the study is an observational study or an experiment.

In: Statistics and Probability

A Malaysian firm has to choose between two new machines. Machine A would cost $80,000 and...

A Malaysian firm has to choose between two new machines.

Machine A would cost $80,000 and is expected to have an economic life of four years. It should generate $50,000 of revenue each year, and incur costs of $22,000 a year.

Machine B will cost $100,000 and is expected to have an economic life of five years. It is anticipated that it will produce annual revenue of $51,000 and attract costs of

$22,000 a year.

If the firm requires a return of 10% on their investment and the company tax rate is 30%, which machine should be chosen?

In: Finance

What is a chart of accounts? What is a T account? What are the normal balances for the accounts?

What is a chart of accounts?

What is a T account? What are the normal balances for the accounts?

What is the time period assumption, Revenue recognition principle, matching principle?(pg 151)

What is the difference between Accrual and Cash basis accounting? (pg 153).


In: Accounting