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Laker Company reported
the following January purchases and sales data for its only
product.
1.The Company uses a perpetual inventory system. For specific identification, ending inventory consists of 345 units, where 310 are from the January 30 purchase, 5 are from the January 20 purchase, and 30 are from beginning inventory. Determine the cost assigned to ending inventory and to cost of goods sold using (a) specific identification, (b) weighted average, (c) FIFO, and (d) LIFO. (Round weighted average cost per unit to 2 decimal places.) 2. Complete comparative income statements for the month of January for Laker Company for the four inventory methods. Assume expenses are $1,900, and that the applicable income tax rate is 40%. For specific identification, ending inventory consists of 345 units, where 310 are from the January 30 purchase, 5 are from the January 20 purchase, and 30 are from beginning inventory. (Round your average cost per unit to 2 decimal places.) |
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In: Accounting
The Six basic steps in decision making:
1-Define the Problem
2- Determine the Objective
3- Explore the Alternatives
4- Predict the Consequences
5- Make a Choice
6- Perform Sensitivity Analysis
Write 300 to 400 words on “Determine the Objective.” Describe your own motives and what your short or long term plans are (please explain short term and long term plans separately) after completing your MBA? Knowing you “can’t always get what you want” what can you get? What can you change? Explain how you have to make these decisions under uncertainty. Cite the textbook at least twice applying concepts from the text.
In: Economics
Excel please I don't know how to do it.
6-13. From a sample of 22 graduate students, the mean number of months of work experience prior to entering an MBA program was 34.86. The national standard deviation is known to be 19 months. What is a 95% confidence interval for the population mean? Compute the confidence interval using the appropriate formula and verify your results using the Excel Confidence Intervals template.
6-15. A survey of 26 college freshmen found that they average 6.85 hours of sleep each night. A 90% confidence interval had a margin of error of 0.497.
a. What
are the lower and upper limits of the confidence interval?
b. What was the standard deviation, assuming that the population
standard deviation is known?
In: Operations Management
On January 4, 2020, Cutter Inc., bought 15% of Vekshyna Corporation’s common stock for $60,000. The following data concerning Vekshyna are available for the years ended December 31, 2020 and 2021:
2020 2021
Net income $30,000 $90,000
Dividends paid None 80,000
In its income statement for the year ended December 31, 2021, how much should Cutter report as income from this investment?
In: Accounting
In: Accounting
On January 1, 2020, Nivtop Corp. leased a machine from Nosnah
Inc. The lease agreement calls for
Nivtop to make four annual lease payments of $559,113 each January
1, with the first payment to be
made on January 1, 2020. Nivtop’s incremental borrowing rate is 8%;
this is the same rate Nosnah
used to calculate the lease payments. The fair market value of the
machine is $2,000,000 and its
expected useful life is 5 years. This is a non-specialized
machine.
Nosnah purchased the machine from a vendor on December 31, 2019 for
$1,573,000.
Required
a. List the 5 criteria used to determine whether a lease qualifies
as finance/sales-type or
operating. Review each criterion to determine which (if any) this
lease meets.
b. What type of lease is this for Nivtop?
c. What type of lease is this for Nosnah?
d. Show all of Nivtop’s journal entries relative to this lease
at
1) January 1, 2020
2) December 31, 2020
3) January 1, 2021
e. Show all of Nosnah’s journal entries relative to this lease
at
1) January 1, 2020
2) December 31, 2020
3) January 1, 2021
In: Accounting
On January 1, 2020, Nivtop Corp. leased a machine from Nosnah
Inc. The lease agreement calls for
Nivtop to make four annual lease payments of $559,113 each January
1, with the first payment to be
made on January 1, 2020. Nivtop’s incremental borrowing rate is 8%;
this is the same rate Nosnah
used to calculate the lease payments. The fair market value of the
machine is $2,000,000 and its
expected useful life is 5 years. This is a non-specialized
machine.
Nosnah purchased the machine from a vendor on December 31, 2019 for
$1,573,000.
Required
a. List the 5 criteria used to determine whether a lease qualifies
as finance/sales-type or
operating. Review each criterion to determine which (if any) this
lease meets.
b. What type of lease is this for Nivtop?
c. What type of lease is this for Nosnah?
d. Show all of Nivtop’s journal entries relative to this lease
at
1) January 1, 2020
2) December 31, 2020
3) January 1, 2021
e. Show all of Nosnah’s journal entries relative to this lease
at
1) January 1, 2020
2) December 31, 2020
3) January 1, 2021
In: Accounting
On January 1, 2018, Worchester Construction leased International
Harvester equipment from Newton LeaseCorp. Newton LeaseCorp
purchased the equipment from Wellesley Harvester at a cost of
$999,738. Worchester borrowing rate for similar transactions is
10%.
The lease agreement specified four annual payments of $197,000
beginning January 1, 2018, the beginning of the lease, and at each
December 31 thereafter through 2020. The useful life of the
equipment is estimated to be six years. The present value of those
four payments at a discount rate of 10% is $686,910.
On January 1, 2020 (after two years and three payments), the
Worchester and Newton agreed to extend the lease term by two years.
The market rate of interest at that time was 9%.
Required:
1. Prepare the appropriate entries for
Worchester Construction on January 1, 2020, to adjust its lease
liability for the lease modification.
2. Prepare all appropriate entries for Newton
LeaseCorp on January 1, 2020, to record the lease
modification.
3. Prepare all appropriate entries for Worchester
Construction on December 31, 2020, related to the lease.
4. Prepare all appropriate entries for on December
31, 2020, related to the lease.
In: Accounting
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 68.7 minutes and the standard deviation was 67.5 minutes. For the sample of females, the mean time spent watching TV per day was 93.9 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 μmales − μfemales. Round your test statistic to two decimal places, your df down to the nearest whole number, and your P-value to three decimal places.)
t = 1.4739 Incorrect: Your answer is incorrect.
df = 82 Incorrect: Your answer is incorrect.
P-value = 0.288 Incorrect: Your answer is incorrect.
State your conclusion. 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. 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. 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 have convincing evidence that the mean time female students at this university spend watching TV is greater than the mean time for male students.
Please show your work so I can follow along!!!!! Thank you.
In: Statistics and Probability
Suppose the following graph is the current condition of the U.S. economy.
Answer the following questions based on this graph.
In: Economics