publicly traded company 3 customers 27% 74% revenue 2004 2005 2006 questions

Questions

A sporting goods company operates retail stores in the San Francisco and San Jose areas. Customers...

A sporting goods company operates retail stores in the San Francisco and San Jose areas. Customers were asked to rate their shopping experiences. Their results indicated that 15% rated their shopping experience as Poor, 45% as Average, and 40% as Good. In addition, 67% of the customers who rated their experience as Poor came from San Jose, 36% of the customers who rated their experience as Average came from San Jose, and 30% of the customers who rated their experience as Good came from San Jose.

(a) What is the probability that a customer came from San Jose?

(b) What is the probability that a customer who shopped in San Jose rated his or her experience as Good?

In: Statistics and Probability

The following is a list of the accounts and balances taken from the adjusted trial balance at December 31, 2014 for Meilleur Merchants. The list of accounts is in alphabetical order.

The following is a list of the accounts and balances taken from the adjusted trial balance at December 31, 2014 for Meilleur Merchants. The list of accounts is in alphabetical order.

Meilleur uses a periodic inventory system.

	Account	Balance Dec. 31
1	Accounts payable	(15,000	)
2	Accounts receivable	30,000
3	Accumulated depreciation—building	(15,500	)
4	Accumulated depreciation—equipment	(10,000	)
5	Advertising expense	4,100
6	Building	84,600
7	S. Meilleur, capital	(75,000	)
8	S. Meilleur, drawings	28,300
9	Cash	8,790
10	Depreciation expense	5,700
11	Equipment	24,500
12	Freight out	630
13	Freight in	3,500
14	Insurance expense	1,250
15	Interest expense	2,220
16	Interest revenue	(1,440	)
17	Land	12,000
18	Merchandise inventory, beginning	90,200
19	Mortgage payable	(57,600	)
20	Prepaid insurance	2,100
21	Property tax expense	1,000
22	Property taxes payable	(600	)
23	Purchase discounts	(6,300	)
24	Purchase returns and allowances	(14,900	)
25	Purchases	267,900
26	Rent revenue	(1,500	)
27	Salaries expense	41,400
28	Salaries payable	(650	)
29	Sales	(421,900	)
30	Sales discounts	15,500
31	Sales returns and allowances	17,700
32	Unearned revenue	(23,000	)
33	Utilities expense	2,000

Additional information: According to the year end physical count, the merchandise inventory had a balance of $104,700.

Prepare a multiple-step income statement for Meilleur Merchants for the year ended December 31, 2014.

In: Accounting

The following is a list of the accounts and balances taken from the adjusted trial balance at December 31, 2014 for Meilleur Merchants. The list of accounts is in alphabetical order.

The following is a list of the accounts and balances taken from the adjusted trial balance at December 31, 2014 for Meilleur Merchants. The list of accounts is in alphabetical order.

Meilleur uses a periodic inventory system.

	Account	Balance Dec. 31
1	Accounts payable	(15,000	)
2	Accounts receivable	30,000
3	Accumulated depreciation—building	(15,500	)
4	Accumulated depreciation—equipment	(10,000	)
5	Advertising expense	4,100
6	Building	84,600
7	S. Meilleur, capital	(75,000	)
8	S. Meilleur, drawings	28,300
9	Cash	8,790
10	Depreciation expense	5,700
11	Equipment	24,500
12	Freight out	630
13	Freight in	3,500
14	Insurance expense	1,250
15	Interest expense	2,220
16	Interest revenue	(1,440	)
17	Land	12,000
18	Merchandise inventory, beginning	90,200
19	Mortgage payable	(57,600	)
20	Prepaid insurance	2,100
21	Property tax expense	1,000
22	Property taxes payable	(600	)
23	Purchase discounts	(6,300	)
24	Purchase returns and allowances	(14,900	)
25	Purchases	267,900
26	Rent revenue	(1,500	)
27	Salaries expense	41,400
28	Salaries payable	(650	)
29	Sales	(421,900	)
30	Sales discounts	15,500
31	Sales returns and allowances	17,700
32	Unearned revenue	(23,000	)
33	Utilities expense	2,000

Additional information: According to the year end physical count, the merchandise inventory had a balance of $104,700.

Prepare a multiple-step income statement for Meilleur Merchants for the year ended December 31, 2014.

In: Accounting

The owner of a restaurant that serves Continental-style entrées has the business objective of learning more...

The owner of a restaurant that serves Continental-style entrées has the business objective of learning more about the patterns of patron demand during the Friday-to-Sunday weekend time period. She decided to study the demand for dessert during this time period. In addition to studying whether a dessert was ordered, she will study the gender of the individual and whether a beef entrée was ordered. Data were collected from 630 customers and organized in the following contingency tables:

	Gender
Dessert Ordered	Male	Female	Total
Yes	50	96	146
No	250	234	484
Total	300	330	630

	Beef Entree
Dessert Ordered	Yes	No	Total
Yes	74	68	142
No	123	365	488
Total	197	433	630

At the 0.05 level of significance, is there evidence of a difference between males and females in the proportion who order dessert?

At the 0.05 level of significance, is there evidence of a difference in the proportion who order dessert based on whether a beef entrée has been ordered?

In: Statistics and Probability

The comparative balance sheets for 2018 and 2017 and the statement of income for 2018 are...

The comparative balance sheets for 2018 and 2017 and the statement of income for 2018 are given below for National Intercable Company. Additional information from NIC’s accounting records is provided also.

NATIONAL INTERCABLE COMPANY Comparative Balance Sheets December 31, 2018 and 2017 ($ in millions)
	2018			2017
Assets
Cash	$	106		$	95
Accounts receivable		280			275
Less: Allowance for uncollectible accounts		(8	)		(6	)
Prepaid insurance		4			10
Inventory		262			255
Long-term investment		50			75
Land		180			180
Buildings and equipment		322			280
Less: Accumulated depreciation		(118	)		(85	)
Trademark		29			30
	$	1,107		$	1,109
Liabilities
Accounts payable	$	38		$	54
Salaries payable		4			5
Deferred income tax liability		20			17
Lease liability		79			0
Bonds payable		115			285
Less: Discount on bonds		(25	)		(28	)
Shareholders' Equity
Common stock		290			270
Paid-in capital—excess of par		110			90
Preferred stock		50			0
Retained earnings		426			416
	$	1,107		$	1,109

NATIONAL INTERCABLE COMPANY Income Statement For Year Ended December 31, 2018 ($ in millions)
Revenues
Sales revenue	$	420
Investment revenue		16
Gain on sale of investments		4	$	440
Expenses
Cost of goods sold		170
Salaries expense		62
Depreciation expense		45
Trademark amortization expense		1
Bad debt expense		7
Insurance expense		24
Bond interest expense		40
Loss on building fire		32		381
Income before tax				59
Income tax expense				27
Net income			$	32
Additional information from the accounting records: Investment revenue includes National Intercable Company's $9 million share of the net income of Central Fiber Optics Corporation, an equity method investee. A long-term investment in bonds, originally purchased for $34 million, was sold for $38 million. Pretax accounting income exceeded taxable income causing the deferred income tax liability to increase by $3 million. A building that originally cost $48 million, and which was one-fourth depreciated, was destroyed by fire. Some undamaged parts were sold for $4 million. The right to use a building was acquired with a seven-year lease agreement; present value of lease payments, $90 million. Annual lease payments of $11 million are paid at Jan. 1 of each year starting in 2018. $170 million of bonds were retired at maturity. $20 million par value of common stock was sold for $40 million, and $50 million of preferred stock was sold at par. Shareholders were paid cash dividends of $22 million. Required: 2. Prepare the statement of cash flows. Present cash flows from operating activities by the direct method. (Enter your answers in millions (i.e., 10,000,000 should be entered as 10.). Amounts to be deducted should be indicated with a minus sign.)

In: Accounting

1. Preparation of financial statements Using the Adjusted Trial Balance shown below, prepare the company’s: (a) ...

1. Preparation of financial statements

Using the Adjusted Trial Balance shown below, prepare the company’s:

(a) Income Statement

(b) Statement of Retained Earnings

(c) Balance Sheet

by completing the tables provided on the following pages.

All Star Repair Shop Adjusted Trial Balance Dec. 31, 2016
	Debit	Credit
Cash	$ 25,000
Supplies	2,000
Accounts Receivable	70,000
Equipment	30,000
Accumulated Depreciation on Equipment		$ 10,000
Accounts Payable		20,000
Notes Payable		5,000
Income Taxes Payable		20,000
Capital Stock		30,000
Retained Earnings *(as of Jan 1, 2016)*		5,000
Dividends	15,000
Repair Service Sales Revenue		125,000
Wages Expense	35,000
Rent Expense	10,000
Supplies Expense	4,000
Utilities Expense	3,000
Depreciation Expense	1,000
Income Tax Expense	20,000	______
	215,000	215,000

#2 Below is a series of accounts for the Whitman Company, numbered for identification. Following the accounts is a series of transactions. For each transaction, indicate the account(s) that should be debited and credited in the required journal entry(s) by entering the appropriate account number(s) to the right of each transaction.

Acct. #	Account Title
1	Accounts receivable
2	Accounts payable
3	Sales Revenue
4	Inventory
5	Cash
6	Cost of Goods Sold
7	Notes Receivable
8	Income taxes payable
9	Interest Revenue
10	Interest Receivable
11	Allowance for Doubtful Accounts
12	Bad Debt Expense

Transactions	Debit	Credit
Example: On March 1, 2016, Whitman Co. paid its suppliers $20,000 that it owed for merchandise it bought on credit in the previous month.	2	5
*A. On March 30, 2016, Whitman Co. sells $50,000 of merchandise to customers* on credit. The merchandise originally cost Whitman $30,000.**
B. On March 31, 2016 the appropriate bad debt expense was recorded using 2% of credit sales as an estimate.
C. On April 1, 2016 Whitman determined that $500 of its first quarter credit sales were uncollectible and was written off.
D. On Oct. 1, 2015, Whitman provided one of its customers with a $10,000, 1 year, 12% loan. Interest is paid twice on March 31, 2016 and at maturity on Sept. 30, 2016. What journal entry did Whitman make on Oct. 1, 2015?
E. On Sept. 30, 2016 what journal entries will Whitman make regarding the loan?

Hints: Transactions B, C, D each have only one debit and one credit.

Transaction A had 2 debits and 2 credits.

Transaction E has one debit and three credits.

3

On Jan 1, Bike Mart had a beginning inventory of 20 bicycles which it purchased for $350 each.

During January, the company purchases four more bicycles for $400 each. None were sold in January.

On February 15, the company purchases five more bicycles for $450 each.

Between February 16 and 28, Bike Mart sells 10 of these bicycles.

a.) Calculate Bike Mart’s Ending Inventory Balance (in dollars) at the end of February and Cost of Goods Sold through February using the FIFO Method. (show all work.)

b.) Calculate Bike Mart’s Ending Inventory Balance (in dollars) at the end of February and Cost of Goods Sold through February using the Weighted Average Method. (show all work.)

c.) At the end of February, will Bike Mart’s Net Income (profits) on its Income Statement be higher if it uses the FIFO or Weighted Average Inventory Method? Why?

In: Accounting

A new company has an upfront cost of $250,000 today. Starting one year from today they...

A new company has an upfront cost of $250,000 today. Starting one year from today they will produce a revenue of $85,000 every year for a total of ten years. The following year (t=11), the revenue will grow at a rate of 7% and this growth rate will remain constant every year forever. The interest rate is 8%. What is the value of these cash flows today for this new company?

In: Finance

This is a study on minimum wage and poverty thresholds. I have included the procedure for one...

This is a study on minimum wage and poverty thresholds. I have included the procedure for one year, 2009, below. You will calculate all variables for all years 1968 – 2013. You will have three graphs. Check the attached excel data sheet to see what info. you already have. You will need to calculate a few variables for each year. Use the excel data sheet to do quick and easy cut and paste formulas. If you need help, or are hyperventilating now, just drop me a line or come by the office. JB

Step 1. Start off by using the 2009 and 2010 data. You have this data on the excel data sheet:

Minimum wage/Nominal minimum wage (NMW)
Consumer Price Index (CPI) Use CPI-U for Urban Consumer, annual average
Poverty level income threshold for a household of 2 (H2)
Poverty level income threshold for a household of 4 (H4)

(NMW, H2 and H4 are nominal variables)

You must calculate this one. CPI in hundredths = CPI/100. Divide all nominal values by CPI in hundredths to convert nominal values to real values.

Step 2. Convert nominal minimum wage (NMW) to real minimum wage (RMW).

Minimum wage (NMW) from data source in 2009 = $______, the CPI for 2009 = ______

Formula 1: RMW= NMW/CPI in hundredths

_____________ for 2009

Step 3. Calculate yearly percent change in RMW (PP). % chg PP represents annual percent change in purchasing power.

Formula 2: % chg PP from 2009 to 2010:

= (RMW in 2010–RMW in 2009)/RMW in 2009) x 100, = _____________________; an (increase or decrease) in purchasing power.

Step 4. Calculate the yearly percentage change in the CPI (INFLT). INFLT represents annual percent change in inflation.

Formula 3: INFLT from 2009 to 2010:

= (CPI₂₀₁₀ – CPI₂₀₀₉/ CPI₂₀₀₉ x 100;

= (CPIY₂₀₁₁ – CPI₂₀₁₀)/ CPI₂₀₁₀ x 100;

= __________________, an (increase or decrease) in inflation from 2009 to 2010

Step 5. Graph 1. For every year, graph % chg in PP and Inflation (INFLT) on the same graph. Title of graph should be Trend in Purchasing Power and Inflation for Selected Years

Step 6. Calculate real annual income 1(INC1): RMW x 40 hours per week x 50 weeks per year.

Formula 4: INC1 for 2009 = ______________, H2 =________ , this is a nominal value

Formula 5: Convert to real value (RH2) = h2/CPI (2009) in hundredths = _______________

Year	NMW	CPI-U	H2	H4	CPI/100	RMW	% chg pp	inflation rate	INC1	rh2	INC1PCTRH2	INC1PCTR4	rh4	INC2PCTRH2	INC2PCTRH4
1968	1.6	34.8	2262	3553
1970	1.6	38.8	2525	3968
1972	1.6	41.8	2724	4275
1976	2.3	56.9	3711	5815
1979	2.9	72.6	4725	7412
1980	3.1	82.4	5363	8414
1981	3.35	90.9	5917	9287
1988	3.35	118.3	7704	12092
1991	3.8	136.2	8865	13924
1992	4.25	140.3	9137	14335
1994	4.25	148.2	9661	15141
1996	4.25	156.9	10233	16036
1997	4.75	160.5	10473	16400
1998	5.15	163	10634	16660
2000	5.15	172.2	11239	17603
2001	5.15	177.1	11569	18104
2002	5.15	179.9	11756	18392
2003	5.15	184	12015	18810
2004	5.15	188.9	12334	19307
2005	5.15	195.3	12755	19971
2006	5.15	201.6	13167	20614
2007	5.15	207.3	13540	21203
2008	5.85	215.3	14051	22025
2009	6.55	214.5	13991	21954
2010	7.25	218.1	14218	22314
2011	7.25	224.9	14657	23021
2012	7.25	229.6	14937	23492
2013	7.25	233	15156	23836

In: Economics

Stacey's Piano Rebuilding Company has been operating for one year. At the start of the second...

Stacey's Piano Rebuilding Company has been operating for one year. At the start of the second year, its income statement accounts had zero balances and its balance sheet account balances were as follows:


Cash	$	6,700	Accounts payable	$	8,600
Accounts receivable		30,200	Unearned revenue		3,240
Supplies		1,500	Long-term note payable		48,000
Equipment		10,400	Common stock		180
Land		7,600	Additional paid-in capital		720
Building		26,600	Retained earnings		22,260

Rebuilt and delivered five pianos in January to customers who paid $18,700 in cash.
Received a $550 deposit from a customer who wanted her piano rebuilt.
Rented a part of the building to a bicycle repair shop; received $910 for rent in January.
Received $7,900 from customers as payment on their accounts.
Received an electric and gas utility bill for $480 to be paid in February.
Ordered $900 in supplies.
Paid $2,140 on account in January.
Received from the home of Stacey Eddy, the major shareholder, a $900 tool (equipment) to use in the business in exchange for 110 shares of $1 par value stock.
Paid $14,100 in wages to employees who worked in January.
Declared and paid a $2,300 dividend (reduce Retained Earnings and Cash).
Received and paid cash for the supplies in (f).

Required:

Prepare an unadjusted classified income statement for January of the second year (ignore income taxes).

STACEY’S PIANO REBUILDING COMPANY
Income Statement (unadjusted)
For the Month Ended January 31
Operating revenues:


Total operating revenues	0
Operating expenses:




Total operating expenses	0

Other item:


	$0

In: Accounting

Do hypothesis testing (t test) Test to see if there is a difference between grade of...

Do hypothesis testing (t test)

Test to see if there is a difference between grade of male and female students - insert the SPSS output in the space below.

a- What would be the alternate hypothesis for the study?

b- What would be the null hypothesis?

c- What Level of Significance do you choose?

d- What is the computed t critical value for the study?

e- What is the P-value of the test?

f- What is the conclusion?

Gender	Grade	Ehicity
Female	87	African American
Male	95	Hispanic
Female	81	White
Female	74	White
Female	73	African American
Male	92	African American
Female	63	White
Female	55	White
Female	94	White
Female	84	White
Male	88	White
Male	78	Hispanic
Male	75	African American
Male	93	Hispanic
Female	87	Hispanic
Male	65	Hispanic
Male	90	African American
Female	89	African American
Female	82	White
Female	77	African American
Female	82	White
Female	72	White
Female	86	White
Female	60	White
Female	90	Hispanic
Male	87	Hispanic
Female	89	African American
Male	77	African American
Male	76	Hispanic
Female	80	Hispanic
Female	74	Hispanic
Female	88	White
Female	80	White
Female	80	African American
Female	81	White
Male	74	Hispanic
Male	80	White
Female	74	African American
Female	91	White
Male	74	White

In: Statistics and Probability