4. The life expectancy of a person in 24 randomly selected countries for the year 2011 is in the table below.

   a.) What is the range of the life expectancy rates? b.) What is the median of the life expectancy rates?

   77.2	55.4	69.9	76.4	75.0	78.2
   73.0	70.8	82.6	68.9	81.0	54.2

   5) Cholesterol levels were collected from patients two days after they had a heart attack and are shown in the table below. (Show all work. Just the answer, without supporting work, will receive no credit.)

   270	236	210	142	280	272	160
   220	226	242	186	266	206	318
   294	282	234	224	276	282	360
   310	280	278	288	288	244	236

   1. a.) What is the sample mean?

   2. b.) What is the sample standard deviation? (Round your answer to two decimal

      places.

   3. 6) There are 4 black marbles and 6 red marbles in a box. Consider selecting one marble at a time from the box. What is the probability that the first marble is black and the second marble is also black. Express the probability in fraction format. (Show all work. Just the answer, without supporting work, will receive no credit.) a.) Assume the marble is selected with replacement. b.) Assume the marble is selected without replacement.

Executive officers of Jordan Company are wrestling with their budget for the next year. The following are two different sales estimates provided by two difference sources:

Jordan’s past experience indicates that cost of goods sold is about 55 percent of sales revenue. The company tries to maintain 10 percent of the next quarter’s expected cost of goods sold as the current quarter’s ending inventory. This year’s ending inventory is $32,000. Next year’s ending inventory is budgeted to be $33,000.

Required

Prepare an inventory purchases budget using the sales manager’s estimate.

Prepare an inventory purchases budget using the marketing consultant’s estimate.

Required A

Required B

Prepare an inventory purchases budget using the sales manager’s estimate. (Round your final answers to nearest whole dollar amount.)

Required B

Prepare an inventory purchases budget using the marketing consultant’s estimate. (Round your final answers to nearest whole dollar amount.)

1) On July 25 of this year, Taylor sold land with a cost of $15,000 for $40,000. Taylor collected $20,000 this year and is scheduled to receive $5,000 each year for four years starting next year plus an acceptable rate of interest. Taylor's gain recognized this year is

2) Tom and Kristi are married and file a joint return for 2019 with taxable income of $100,000 and tax preferences and adjustments of $65,000 for AMT purposes. Their regular tax liability is $13,792. What is the amount of their total tax liability?

the following information was taken from a company’s bank reconciliation at the end of the year:

What is the correct cash balance that should be reported in the company's balance sheet at the end of the year?

a.$5,275.

b.$9,900.

c.$5,300.

d.$8,600.

2

At December 31, Gill Co. reported accounts receivable of $292,000 and an allowance for uncollectible accounts of $1,000 (credit) before any adjustments. An analysis of accounts receivable suggests that the allowance for uncollectible accounts should be 4% of accounts receivable. The amount of the adjustment for uncollectible accounts would be:

a.$1,000.

b.$11,680.

c.$9,990.

d.$10,680.

3.

On September 1, 2021, Middleton Corp. lends cash and accepts a $13,000 note receivable that offers 15% interest and is due in six months. How much interest revenue will Middleton Corp. report during 2022? (Do not round intermediate calculations. Round your answer to the nearest dollar amount.)

a.$325.

b.$503.

c.$363.

d.$673.

4.

A company has beginning inventory for the year of $10,000. During the year, the company purchases inventory for $180,000 and ends the year with $30,000 of inventory. The company will report cost of goods sold equal to:

a.$200,000.

b.$160,000.

c.$180,000.

d.$210,000.

5.

A company purchased new equipment for $46,000. The company paid cash for the equipment. Other costs associated with the equipment were: transportation costs, $1,200; sales tax paid $2,900; and installation cost, $2,800. The cost recorded for the equipment was:

a.$52,900.

b.$47,200.

c.$46,000

d.$50,100.

6.

Kansas Enterprises purchased equipment for $79,500 on January 1, 2021. The equipment is expected to have a ten-year service life, with a residual value of $6,600 at the end of ten years.

Using the straight-line method, depreciation expense for 2021 would be:

a.$7,290.

b.$8,610.

c.$15,900.

d.$7,950.

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A shoe department experienced the following merchandise activity for the first quarter of the year. A) Determine the departmental turnover for the period. Then, B) Interpret your numerical answer in words (i.e. For every $1.00 invested.....).

BOM (retail) (the numbers)

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February $11,800

March $9,700

April $12,300

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