Question # 6 Erica Corp., who reports under ASPE, leases machinery on January 1, 2020, and records this as a capital lease. Seven annual lease payments of $ 140,000 are required the end of each year, starting December 31, 2020. The present value of the lease payments are calculated using 10%. Title passes to Erica at the end of the lease. Erica uses the effective interest method of amortization for the lease. The company uses straight-line depreciation. The equipment’s expected useful life of eight years, with no residual value. Instructions (Round values to the nearest dollar.) a. What type of lease is this for the lessee? What is your rationale? a. Prepare a lease amortization table for 2020 and 2021. b. Prepare the general journal entries relating to this lease for 2020.

Erica Corp., who reports under ASPE, leases machinery on January 1, 2020, and records this as a capital lease. Seven annual lease payments of $ 140,000 are required the end of each year, starting December 31, 2020. The present value of the lease payments are calculated using 10%. Title passes to Erica at the end of the lease.

Erica uses the effective interest method of amortization for the lease. The company uses straight-line depreciation. The equipment’s expected useful life of eight years, with no residual value.

Instructions (Round values to the nearest dollar.)

1. What type of lease is this for the lessee?  What is your rationale?

1. Prepare a lease amortization table for 2020 and 2021.
2. Prepare the general journal entries relating to this lease for 2020.

Pina Company provides the following information about its defined benefit pension plan for the year 2020.

Prepare the journal entry recording pension expense. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.)

Copper Explorations recently acquired the rights to mine a new site. Equipment and a truck were purchased to begin mining operations at the site. Details of the mining assets follow:

Copper's year-end is December 31 and it uses the straight-line method for all mining assets including intangibles.

Required:
1. Record amortization and depreciation at December 31, 2020, on the mining assets, including the mineral rights.

2. Assume the mine was closed on October 31, 2023, and the assets were scrapped. Record the disposal of the assets.

Do male college students spend more time than female college students using a computer? This was one of the questions investigated by the authors of an article. Each student in a random sample of 46 male students at a university in England and each student in a random sample of 38 female students from the same university kept a diary of how he or she spent time over a three-week period.

For the sample of males, the mean time spent using a computer per day was 45.1 minutes and the standard deviation was 63.3 minutes. For the sample of females, the mean time spent using a computer was 39.4 minutes and the standard deviation was 57.3 minutes. Is there convincing evidence that the mean time male students at this university spend using a computer is greater than the mean time for female students? Test the appropriate hypotheses using

α = 0.05.

(Use a statistical computer package to calculate the P-value. Use μ_males − μ_females. Round your test statistic to two decimal places, your df down to the nearest whole number, and your P-value to three decimal places.)

State your conclusion.

Fail to reject H₀. We do not have convincing evidence that the mean time per day male students at this university spend using a computer is greater than the mean time for female students.Reject H₀. We do not have convincing evidence that the mean time per day male students at this university spend using a computer is greater than the mean time for female students.    Fail to reject H₀. We have convincing evidence that the mean time per day male students at this university spend using a computer is greater than the mean time for female students.Reject H₀. We have convincing evidence that the mean time per day male students at this university spend using a computer is greater than the mean time for female students.

Do female college students spend more time than male college students watching TV? This was one of the questions investigated by the authors of an article. Each student in a random sample of 46 male students at a university in England and each student in a random sample of 38 female students from the same university kept a diary of how he or she spent time over a three-week period.

For the sample of males, the mean time spent watching TV per day was 68.3 minutes and the standard deviation was 67.5 minutes. For the sample of females, the mean time spent watching TV per day was 93.8 minutes and the standard deviation was 89.1 minutes. Is there convincing evidence that the mean time female students at this university spend watching TV is greater than the mean time for male students? Test the appropriate hypotheses using

α = 0.05.

(Use a statistical computer package to calculate the P-value. Use μ_males − μ_females. Round your test statistic to two decimal places, your df down to the nearest whole number, and your P-value to three decimal places.)

State your conclusion.

Reject H₀. We have convincing evidence that the mean time female students at this university spend watching TV is greater than the mean time for male students.Fail to reject H₀. We do not have convincing evidence that the mean time female students at this university spend watching TV is greater than the mean time for male students.    Reject H₀. We do not have convincing evidence that the mean time female students at this university spend watching TV is greater than the mean time for male students.Fail to reject H₀. We have convincing evidence that the mean time female students at this university spend watching TV is greater than the mean time for male students.

Do female college students spend more time than male college students watching TV? This was one of the questions investigated by the authors of an article. Each student in a random sample of 46 male students at a university in England and each student in a random sample of 38 female students from the same university kept a diary of how he or she spent time over a three-week period.

For the sample of males, the mean time spent watching TV per day was 68.8 minutes and the standard deviation was 67.5 minutes. For the sample of females, the mean time spent watching TV per day was 93.8 minutes and the standard deviation was 89.1 minutes. Is there convincing evidence that the mean time female students at this university spend watching TV is greater than the mean time for male students? Test the appropriate hypotheses using

α = 0.05.

(Use a statistical computer package to calculate the P-value. Use μ_males − μ_females. Round your test statistic to two decimal places, your df down to the nearest whole number, and your P-value to three decimal places.)

State your conclusion.

a.Reject H₀. We do not have convincing evidence that the mean time female students at this university spend watching TV is greater than the mean time for male students.

b.Fail to reject H₀. We have convincing evidence that the mean time female students at this university spend watching TV is greater than the mean time for male students.     

c.Reject H₀. We have convincing evidence that the mean time female students at this university spend watching TV is greater than the mean time for male students.

d.Fail to reject H₀. We do not have convincing evidence that the mean time female students at this university spend watching TV is greater than the mean time for male students.

1. A random sample of 28 students at a particular university had a mean age of 22.4 years. If the standard deviation of ages for all university students is known to be 3.1 years,Find a 90% confidence interval for the mean of all students at that university. SHOW WORK

(3 pts) A random sample of 100 freshman showed 10 had satisfed the university mathematics requirement and a second random sample of 50 sophomores showed that 12 had satisfied the university mathematics requirement. Enter answers below rounded to three decimal places.

(a) The relative risk of having satisfied the university mathematics requirement for sophomores as compared to freshmen is (b) The increased risk of having satisfied the university mathematics requirement for sophomores as compared to freshmen is

Sage Corporation provides a defined contribution pension plan for its employees. Under the plan, the company deducts 6% of each employee’s gross pay for each bi-weekly pay period. The company also contributes 7% of the employees’ gross pay to the pension plan. The combined pension contributions are then submitted to the pension trustee within 11 days of the end of the month in which the pay was earned.

For the first pay period of October (from Sunday October 1 to October 14, 2020), Sage’s total gross payroll was $171,000. Total gross payroll for the period October 15 through Saturday, October 28, 2020, was $162,000. The total anticipated payroll for the period October 29 through November 10, 2020, was $180,000 (employees worked Monday through Friday each week). On November 10, 2020, Sage submitted the pension contributions to the trustee for the month of October (including accruals up to and including October 31).

a. Prepare the October 14 journal entry to record the payroll, including employee and employer contributions to the pension plan. For simplicity, ignore income taxes and other statutory deductions.

b. Prepare the October 28 journal entry to record the payroll, including employee and employer contributions to the pension plan. For simplicity, ignore income taxes and other statutory deductions.

c. Prepare the October 31 journal entry to accrue the last two days of October’s payroll, including employee and employer contributions to the pension plan. For simplicity, ignore income taxes and other statutory deductions.

d.Prepare the November 10 journal entry to record the payment of the pension contributions to the trustee.