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.

[Audit Reports]

Presented below are independent audit scenarios involving nonpublic clients that prepare GAAP-basis
financial statements. You are assumed to be the reporting auditor on all these engagements, and they are
for the current year only, i.e., the client is presenting single-year (rather than comparative) financials.

Required—Indicate the type of report you should issue in each scenario assuming that the matter
described is material but not pervasively so (unless otherwise implied), and do so by using one of the
options below accompanied by a brief explanation:

SR = auditor’s standard report
UOREM = unqualified opinion with required emphasis-of-matter paragraph
UODEM = unqualified opinion with discretionary emphasis-of-matter paragraph
UOROM = unqualified opinion with required other-matter paragraph
UODOM = unqualified opinion with discretionary other-matter paragraph
QOGD = qualified opinion due to a GAAP departure
QOSL = qualified opinion due to a scope limitation
AO = adverse opinion
DO = disclaimer of opinion

1. A significant portion of the revenues of Child Company come from a single customer, Parent Company,
a business owned by the parents of Child’s CEO. Child has disclosed these transactions and the CEO’S
relationship to Parent’s owners.
2. Switched Company used current (“marked-to-market”) prices to value its inventory in prior years but
this year changed to FIFO.
3. Just Us Company has decided not to prepare a statement of cash flows because as a family owned
business with no outside investors, it believes that its shareholders do not find the statement useful.
4. XY&Z Company learned that it is being sued for breach of contract over a dispute that arose prior to
year-end. XY&Z has made no disclosure of the case, but the company’s legal counsel has confirmed
XY&Z’s position in the attorneys’ letter, specifically, that the likelihood of XY&Z losing the case is
remotely possible but not probable.
5. X&YZ Company learned that it is being sued for breach of contract over a dispute that arose prior to
year-end. X&YZ has made no disclosure of the case, but the company’s legal counsel has confirmed
X&YZ’s position in the attorneys’ letter, specifically, that the likelihood of X&YZ losing the case is
reasonably possible but not probable.
6. During your audit of AB&C Company, you were unable to observe the physical inventory because
you were hired after the company’s year-end. You were not able to satisfy yourself as to the fair
presentation of AB&C’s inventories through other audit procedures.
7. During your audit of A&BC Company, you were unable to confirm accounts receivable because
management did not allow you to do so out of concern about complaints from customers. You were not
able to satisfy yourself as to the fair presentation of A&BC’s receivables through other audit procedures.

A polling organization collected data on a sample of 60 registered voters regarding a tax on the market value of equity transactions as one remedy for the budget deficit.

a. Compute gamma for the table.
b. Compute tau b or tau c for the same data.
c. What accounts for the differences?
d. Decide which is more suitable for these data.

Please answer all parts. Do not copy answers from other source. NEED FULL EXPLANATION. Please paste excel screenshot if you are using it.

As you embark on your new career with “We Crunch the Numbers” you are confronted with a new problem, managing your own money. The firm has a 401(k) as well as money you want to invest outside your 401(k). You recently received a call from a former classmate who is a financial advisor. Your classmate guarantees to beat the S&P 500 for a fee of 1% of your total assets, annual. You took one financial class in your MBA and you are a strong believer in market efficiency. You also are aware that Vanguard has S&P 500 ETF that has an annual expense ratio of .03%. What is your decision?

Suppose marginal benefit from a hectare of for a public park (assume it is a pure public good) for two groups of consumers (A and B) is given by: MBa = 10 − Q and MBb = (8 – Q)/2 where Q is the number of hectares of the park. To simplify our analysis, assume that there are only 1 consumer of each type. The marginal cost to provide the park is a constant $5.

a) What is the socially efficient number of hectares for the park?

b) Assume that the consumers each makes a voluntary contribution to a fund which will be used to build the park. The size of the park depends on the amount of money collected. How many hectares will be built in the end? Assume both consumers know the marginal cost and marginal benefit function of each type.

Prout Company owns 80% of the common stock of Sexton Company. The stock was purchased for $1,600,000 on January 1, 2017, when Sexton Company's retained earnings were $800,000. On January 1, 2019, Prout Company sold fixed assets to Sexton Company for $360,000. These assets were originally purchased by Prout Company for $400,000 on January 1, 2009, at which time their estimated depreciable life was 25 years. The straight‐line method of depreciation is used.

On December 31, 2020, the trial balances of the two companies were as shown here:

Required:

1. Prepare a consolidated statements workpaper for the year ended December 31, 2020.
2. Assuming that on January 1, 2021, Sexton Company sells the fixed assets purchased from Prout Company to a party outside the affiliated group for $300,000:
   1. Prepare the entry that would have been entered on the books of Sexton Company to record the sale.
   2. Prepare entries for the December 31, 2021, consolidated statements workpaper necessitated by the sale of the assets.
   3. Prepare any workpaper entries that will be needed in the December 31, 2022, consolidated statements workpaper in regard to these fixed assets.

On 1 No 2016, Burwood Limited based in Australia ordered inventories to the value of US $ 3000000 on FOB destination terms. The goods are shipped on 1 April 2017 and are paid for on 30 June 2017. Burwood Limited also entered into a forward exchange contract of  US $ 3000000 on 1 Nov 2016 with NYC Bank in which NYC Bank agrees to supply Burwood Limited with US $ 3000000 on 30 June 2017. Burwood Limited has a FY ending on 31 Dec.

Additional information on exchange rates

Management adopts cashflow hedge accounting.

Required:

Prepare a table showing gain/losses on the hedging instrument (the forward rate contract ) and also provide necessary journal entries to record the above transactions from 1.11.2016 to 30.06.2017

Cheyenne Company purchases an oil tanker depot on January 1, 2020, at a cost of $648,500. Cheyenne expects to operate the depot for 10 years, at which time it is legally required to dismantle the depot and remove the underground storage tanks. It is estimated that it will cost $79,920 to dismantle the depot and remove the tanks at the end of the depot’s useful life.

Prepare the journal entries to record the depot and the asset retirement obligation for the depot on January 1, 2020. Based on an effective-interest rate of 6%, the present value of the asset retirement obligation on January 1, 2020, is $44,627.

Prepare any journal entries required for the depot and the asset retirement obligation at December 31, 2020. Cheyenne uses straight-line depreciation; the estimated salvage value for the depot is zero.

On December 31, 2029, Cheyenne pays a demolition firm to dismantle the depot and remove the tanks at a price of $84,200. Prepare the journal entry for the settlement of the asset retirement obligation.