D’Lite Dry Cleaners is owned and operated by Joel Palk. A building and equipment are currently being rented, pending expansion to new facilities. The actual work of dry cleaning is done by another company at wholesale rates. The assets, liabilities, and common stock of the business on July 1, 2016, are as follows: Cash, $45,000; Accounts Receivable, $93,000; Supplies, $7,000; Land, $75,000; Accounts Payable, $40,000; Common Stock, $60,000. Business transactionsduring July are summarized as follows:

Ayayai Hardware takes pride as the “shop around the corner” that can compete with the big-box home improvement stores by providing good service from knowledgeable sales associates (many of whom are retired local handymen). Ayayai has developed the following two revenue arrangements to enhance its relationships with customers and increase its bottom line.

1. Ayayai sells a specialty portable winch that is popular with many of the local customers for use at their lake homes (putting docks in and out, launching boats, etc.). The Ayayai winch is a standard manufacture winch that Ayayai modifies so the winch can be used for a variety of tasks. Ayayai sold 70 of these winches during 2017 at a total price of $18,900, with a warranty guarantee that the product was free of any defects. The cost of winches sold is $16,200. The assurance warranties extend for a 3-year period with an estimated cost of $2,100. In addition, Ayayai sold extended warranties related to 20 Ayayai winches for 2 years beyond the 3-year period for $410 each.

2. To bolster its already strong customer base, Ayayai implemented a customer loyalty program that rewards a customer with 1 loyalty point for every $10 of purchases on a select group of Ayayai products. Each point is redeemable for a $1 discount on any purchases of Ayayai merchandise in the following 2 years. During 2017, customers purchased select group products for $92,000 (all products are sold to provide a 45% gross profit) and earned 9,200 points redeemable for future purchases. The standalone selling price of the purchased products is $92,000. Based on prior experience with incentives programs like this, Ayayai expects 8,800 points to be redeemed related to these sales (Ayayai appropriately uses this experience to estimate the value of future consideration related to bonus points).

Prepare the journal entries for Ayayai related to the sales of Ayayai winches with warranties.

Prepare the journal entries for the bonus point sales for Ayayai in 2017

How much additional sales revenue is recognized by Ayayai in 2018, assuming 3,300 bonus points are redeemed?

Under what circumstances is the Spearman's correlation used?

• A. When variables consists of ranks (i.e., are measured on an ordinal scale).

• B. When there is a linear relationship between variables.

• C. When there is a curvilinear relationship between variables.

Which of the following best describes the Pearson correlation between X and Y variables based on the scores presented in the table below from a sample n = 5?

(Hint: if you have difficulty in answering this question by examining the scores in the table than make a scatter plot to see the shape of the relationship between the X and Y variables)

X    Y

5    4

6    7

8    9

9     8

11 12

• A. a positive correlation

• B. a negative correlation

• C. no correlation (i.e.,a correlation close to zero)

• D. When one variable is dichotomous and the other consists of regular, numerical scores.

• E. A & C

Researchers examined the relationship between social playtime and emotional intelligence in a sample of n = 27 children and found the Pearson's r = 0.36. Based on this outcome, what is the conclusion from this study?

• A. there is a significant positive relationship between these variables with both, p < .05 and p < .01.

• B. there is a significant positive relationship between these variables with p < .05 but not with p < .01.

• C. there is no significant positive relationship between these variables with either, p < .05 and p < .01.

• D. there is a significant positive relationship between these variables with p < .01 but not with p < .05.

6.         Verysmall Mutual Fund’s investment portfolio is comprised of the following: 1,000 shares of General Mills (GIS, current price is $50 per share); 3,000 shares of Bank of America Corp (BAC, current price is $30 per share); and 2,500 shares of United Airlines Holdings (UAL), current price is $90 per share). Verysmall Mutual Fund has sold a total of 15,000 of its own shares to customers. What is Verysmall Mutual Fund’s net asset value?

A.        Less than $20
B.         Between $20 and $30
C.         Between $30 and $40
D.        Between $40 and $50
E.         Over $50

7.         A no-load mutual fund:

A.        has zero operating expenses.
B.         is typically marketed directly to customers, charging no commission.
C.         is a type that no longer exists.
D.        does not invest in common stocks.
E.         has a zero or negative rate of return in the most recent year.

8.         Hedge funds differ from open-end mutual funds in the sense that ______

A.        they require a much smaller initial investment.
B.         they are open to additional investments at any time.
C.         their investors cannot sell shares back to the fund at any time they desire.
D.        they invest in very limited set of securities.
E.         they declare their investment strategies in the prospectus.

The current demand is 40 customers per day. Mr. Miller expects that the demand grows to 50 customers per day with the promotion. The shop has four technicians and they receive $15 per hour. In addition to the labor cost, the shop incurs overhead that is 1.2 times the labor cost and the equipment cost that is $10 per customer. The shop operates 8 hours per day. In order to meet the larger demand, Mr. Miller considers the following three options:

The important information is summarized in Table 4:

Table 4: How to Meet Growing Demand?

Calculate the current labor cost.

1. 10 dollars per day
2. 12 dollars per day
3. 60 dollars per day
4. 120 dollars per day
5. 480 dollars per day

Calculate the current equipment cost.

1. 80 dollars per day
2. 100 dollars per day
3. 320 dollars per day
4. 400 dollars per day
5. 3,200 dollars per day

Calculate the current overhead cost.

1. 12 dollars per day
2. 14 dollars per day
3. 72 dollars per day
4. 144 dollars per day
5. 576 dollars per day

Calculate the labor cost in Option A.

1. 13 dollars per day
2. 14 dollars per day
3. 68 dollars per day
4. 170 dollars per day
5. 680 dollars per day

Calculate the equipment cost in Option C.

1. 120 dollars per day
2. 188 dollars per day
3. 480 dollars per day
4. 750 dollars per day
5. 6,000 dollars per day

Calculate the current multifactor productivity (labor cost + equipment cost + overhead). Round the number to four decimal places.

1. 0.0275 customers per dollar input
2. 0.0752 customers per dollar input
3. 0.1099 customers per dollar input
4. 0.2326 customers per dollar input
5. 0.3640 customers per dollar input

Calculate the multifactor productivity (labor cost + equipment cost + overhead) for Option A. Round the number to four decimal places.

1. 0.0063 customers per dollar input
2. 0.0251 customers per dollar input
3. 0.0770 customers per dollar input
4. 0.1002 customers per dollar input
5. 0.2637 customers per dollar input

Calculate the multifactor productivity (labor cost + equipment cost + overhead) for Option B. Round the number to four decimal places.

1. 0.0069 customers per dollar input
2. 0.0091 customers per dollar input
3. 0.0275 customers per dollar input
4. 0.0752 customers per dollar input
5. 0.2326 customers per dollar input

Calculate the multifactor productivity (labor cost + equipment cost + overhead) for Option C. Round the number to four decimal places.

1. 0.0069 customers per dollar input
2. 0.0277 customers per dollar input
3. 0.0567 customers per dollar input
4. 0.2637 customers per dollar input
5. 0.3612 customers per dollar input

Which option(s) has the highest multifactor productivity?

1. Option A
2. Option B
3. Option C
4. Option A and Option C
5. Option B and Option C

(a) THREE (3) major differences between the Krebs cycle and the Calvin cycle.      

(b) Plants are grown in glasshouse for all seasons. Explain in details why it is essential to keep the temperature low when light intensity is low.

The expected pretax return on three stocks is divided between dividends and capital gains in the following way:

a. If each stock is priced at $145, what are the expected net percentage returns on each stock to (i) a pension fund that does not pay taxes, (ii) a corporation paying tax at 45% (the effective tax rate on dividends received by corporations is 10.5%), and (iii) an individual with an effective tax rate of 10% on dividends and 5% on capital gains? (Do not round intermediate calculations. Enter your answers as a percent rounded to 2 decimal places.)

b. Suppose that investors pay 40% tax on dividends and 10% tax on capital gains. If stocks are priced to yield an after-tax return of 10%, what would A, B, and C each sell for? Assume the expected dividend is a level perpetuity. (Do not round intermediate calculations. Round your answers to 2 decimal places.)

1. What are the main three differences between a limited liability company and a corporation?
2. Explain the transferability of shares in limited liability companies.
3. Assume that you are a partner of a limited liability company,

1. director wants to make the same busines in Salihli on the weekends, is it possible? Explain.
2. in which cases right to information and inspection of the partner can be restricted?
3. after one of your partner’s death, his son comes to your company as a new partner, but you don’t want to work with him. explain the legal status.

4. What do you understand from circular type general assembly resolutions?
5. What is dissociation compensation?
6. Are partners liable of company’s private and public debts in limited liability companies. Explain shortly.