1. Why do some firms appear to embrace the minimum wage legislation?
2. Looking at examples for minimum wage around the world, what are the likely forces driving behind this legislation? Is the minimum wage legislation tied to income per capita or income inequality?
3. The empirical evidence of the impact of minimum wage legislation on employment and local economies is mixed. In fact, studies have found, negative, positive and zero impact. Can you explain this discrepancy?
4. How do attitudes towards minimum wage legislation vary between those who are unemployed, employed with very low salaries (lower than the proposed minimum wage), employed with a good salary, and not in the labour force?

You perform a combustion analysis of 0.255g of a compound that contains C, H and O. You produce 0.561 g of CO₂ and 0.306g of H₂O.

A. How many grams of carbon and hydrogen did you produce?

a)0.154g C & 0.034g H b)0.225g C & 0.068g H c)0.0128g C & 0.017g H d)0.306g C & 0.278g H

B. How many grams of oxygen were there in the original compound?

a)0.081   b)0.091  c)0.055 d)0.067

C. What is the empirical formula of the compound?

a)C2H602 b)C3H8O2   c)C3H8O d)C3H6O

How many grams of oxygen were there in the original compound?

Given their performance record and based on empirical rule what would be the lower bound of the range of sales values that contains 68% of the monthly sales?

Mayday is a trading company with financial year ending every 31 December. The company is preparing their financial statements for the year ending 31 December 2018 and the following is Mayday’s Trial Balance as at that date.

Mayday Trial Balance as at 31 December 2018 ('000)

Property, plant and equipment 65,520 (DEBIT)

Accumulated depreciation 7,520 (CREDIT)

Intangible asset 3,780 (DEBIT)

Inventories – 1 January 2018 81,970 (DEBIT)

Other Short-term Investments 2,760 (DEBIT)

Trade Receivables 66,320 (DEBIT)

Cash and cash equivalents 34,650 (DEBIT)

Share capital 40,050 (CREDIT)

Retained earnings – 1 January 2018 82,332 (CREDIT)

Long-term loans 33,090 (CREDIT)

Short-term borrowings 46,090 (CREDIT)

Trade payables 51,310 (CREDIT)

Revenue 331,080 (CREDIT)

Allowance for doubtful debt 50 (CREDIT)

Purchase 229,472 (DEBIT)

Administrative expenses 34,360 (DEBIT)

Distribution expenses 64,350 (DEBIT)

Finance cost 3,630 (DEBIT)

Taxation expense 1,540 (DEBIT)

Rental income 3,170 (DEBIT)

TOTAL DEBIT: 591,522

TOTAL CREDIT: 591,522

Additional information:

a. Depreciation for the financial year ending 31 December 2018 for property, plant and equipment have been charged and included in the accumulated depreciation account in the trial balance.

b. The company received a grant worth RM6,000 on 15 December 2018. It was an incentive by the government for retraining a group of its employees. The three-month training started in December 2018 has a cost of RM10,000 a month. None of the transactions related to the above has been recorded.

c. Included in the long-term loans is a loan worth RM4,000,000 at 5% annual interest, granted by a local bank on 1 August 2018, for five-year period. Installment for the month of December 2018 has not been paid yet and the related interest for the installment was RM15,200. None of the transactions related to the above has been recorded.

d. The intangible asset was capitalized from the cost of research and development made by the company between 2016 and 2017, recognized in December 2017. The asset that resulted from the research and development process will last for 60 years and it is the company’s policy to amortize the intangible assets over 10 years. No record has been made in relation to the amortization for the financial year 2018.

e. The company is in the middle of a court case with Kinoyu Berhad. The company refused to accept a batch of goods delivered to it in January 2018 due to its misspecification. Consequently, Kinoyu Berhad is suing the company in August 2018 and asking for a compensation of RM3,000,000 for breaking their trade contract. At the end of December 2018, the lawyers that represent Mayday gives a 50-50 percent chance to win.

f. Stocktake as at 31 December 2018 revealed inventory cost amount of RM80,600,000. However, one batch of the inventory was damaged and need to be repackaged. The cost of repackaging was RM5,000 to enable it to be sold at RM110,000. The cost for the batch was RM100,000.

Question:

Prepare Statement of Profit or Loss and Other Comprehensive Income for financial year ended 31 December 2018 for Mayday.

This paper aims to test the module ILOs using a practical real-life case-study. In this case study, you are going to play the role of an analyst for one of the corporates, let us call it Company-Z. Therefore, let us first introduce the case-study random variables:  is the Company-Z monthly revenue along the period Pre-COVID-19(January 2018 to December 2019);  is the same Company-Z monthly revenue but during the period Post-COVID-19(March 2020 to September 2020);  is the monthly operations cost during the period Pre-COVID-19(January 2018 to December 2019); while  is the same monthly operations cost but during the period Post-COVID-19(March 2020 to September 2020). Accordingly, in your analysis, you will depend on two main random variables over two time series. The first random variable is the Company-Z monthly revenue , and the second random variable is the Company-Z monthly operations cost . The two random variables were chosen over two periods of time: the first is (Pre-COVID-19: January 2018 to December 2019), and the second is (Post-COVID-19: March 2020 to September 2020).  Your task is to prepare a comprehensive report to the company, fulfilling specific requirements outlined below in point (3). using this data

What is the appropriate technique to test the following two hypotheses arguing: that the population mean of the monthly operations cost is 0.9 times the value of the average monthly operations cost during the period Pre-COVID-19 , and the population mean of the monthly operations cost is 1.3 times the value of the average monthly operations cost during the period Post-COVID-19 . Write thefull analytical stepsto find the appropriate decision for both hypotheses, as well as comment on the results?     use the confidence level 99 percent

At December 31, 2017, Cord Company's plant asset and accumulated depreciation and amortization accounts had balances as follows

Depreciation methods and useful lives:

Buildings—150% declining balance; 25 years.

Machinery and equipment—Straight line; 10 years.

Automobiles and trucks—150% declining balance; 5 years, all acquired after 2014.

Leasehold improvements—Straight line.

Land improvements—Straight line.

Depreciation is computed to the nearest month and residual values are immaterial. Transactions during 2018 and other information:

On January 6, 2018, a plant facility consisting of land and building was acquired from King Corp. in exchange for 32,000 shares of Cord's common stock. On this date, Cord's stock had a fair value of $60 a share. Current assessed values of land and building for property tax purposes are $246,000 and $574,000, respectively.

On March 25, 2018, new parking lots, streets, and sidewalks at the acquired plant facility were completed at a total cost of $234,000. These expenditures had an estimated useful life of 12 years.

The leasehold improvements were completed on December 31, 2014, and had an estimated useful life of eight years. The related lease, which would terminate on December 31, 2020, was renewable for an additional four-year term. On April 30, 2018, Cord exercised the renewal option.

On July 1, 2018, machinery and equipment were purchased at a total invoice cost of $332,000. Additional costs of $11,000 for delivery and $57,000 for installation were incurred.

On August 30, 2018, Cord purchased a new automobile for $13,200.

On September 30, 2018, a truck with a cost of $24,700 and a book value of $10,400 on date of sale was sold for $12,200. Depreciation for the nine months ended September 30, 2018, was $2,340.

On December 20, 2018, a machine with a cost of $20,500 and a book value of $3,150 at date of disposition was scrapped without cash recovery.

Required:

1. Prepare a schedule analyzing the changes in each of the plant asset accounts during 2018. Do not analyze changes in accumulated depreciation and amortization.

2. For each asset category, prepare a schedule showing depreciation or amortization expense for the year ended December 31, 2018.

1.

                                                       Cord company

                                    Analysis of changes in plant assets

                                      For the year ending december 31, 2018

2. For each asset category, prepare a schedule showing depreciation or amortization expense for the year ended December 31, 2018.

                                              Cord company

                              Depreciation and amortization expense

                                 For the year ending december 31 2018

QUESTION 1 BANK RECONCILIATION The information given below was extracted from the accounting records of Mika Stores. REQUIRED 1.1 Complete the Cash Receipts Journal and Cash Payments Journal of Mika Stores for March 2018 after taking the information provided into account. Use only the columns illustrated below. In the details column write down the name of the contra account e.g. Rent income. (11) Cash Receipts Journal Details Bank Total b/f Cash Payments Journal Details Bank Total b/f MODULE FUNDAMENTALS OF FINANCIAL ACCOUNTING TOTAL MARKS 60 MARKS 1.2 Post to the Bank account in the General ledger of Mika Stores. Balance the account. (3) 1.3 Prepare the Bank Reconciliation Statement as at 31 March 2018. Use the following format: (6) Bank Reconciliation Statement as at 31 March 2018 Debit Credit INFORMATION R 1. The bank column of each of the cash journals showed the following totals before the March 2018 bank statement was received: Cash Receipts Journal Cash Payments Journal 300 000 350 000 2. A comparison of the cash journals of Mika Stores for March 2018 and the Bank Reconciliation Statement for February 2018 with the bank statement from Key Bank for March 2018 revealed the following differences: 2.1 Entries that appeared on the bank statement but not in the cash journals: R 2.1.1 A cheque previously received from the lessee for rent was dishonoured because of insufficient funds. 6 800 2.1.2 A debit order in favour of Telkom for the personal telephone account of the proprietor. 3 800 2.1.3 Charges levied by Key Bank: Service fees Cash deposit fee Interest on overdraft 1 500 1 000 100 2.1.4 A deposit by a debtor to settle his account of R6 200 6 000 2.1.5 A deposit by Key Bank for a successful loan application 50 000 2.2 Entries in the cash journals that did not appear in the bank statement: R 2.2.1 A deposit made on 31 March 2018 102 400 2.2.2 The following cheque issued during March 2018: Cheque no. 520 8 700 3. Additional information R 3.1 Cheque no. 490 (dated 23 February 2018) which appeared in the Bank Reconciliation Statement for February 2018 did not appear in the bank statement for March 2018. 16 140 3.2 Cheque no. 460 issued to Rix Soccer Club during January 2018 as a donation must be cancelled as the club no longer exists. 4 800 3.3 A deposit made by Rika Stores was erroneously reflected on the bank statement of Mika Stores. 4 000 3.4 An entry was made in the Cash Payments Journal for a cheque to a creditor MS Suppliers for R10 000. The bank statement reflected the correct amount of the cheque, R11 000. 3.5 The bank account in the ledger of Mika Stores reflected a debit balance on 01 March 2018. 38 800 3.6 The bank statement showed an unfavourable balance on 31 March 2018. ?

Exercise 14-29 Reporting bonds at fair value [LO14-6]

Federal Semiconductors issued 12% bonds, dated January 1, with a face amount of $840 million on January 1, 2018. The bonds sold for $780,588,787 and mature on December 31, 2037 (20 years). For bonds of similar risk and maturity the market yield was 13%. Interest is paid semiannually on June 30 and December 31. Federal determines interest at the effective rate. Federal elected the option to report these bonds at their fair value. On December 31, 2018, the fair value of the bonds was $760 million as determined by their market value in the over-the-counter market. Assume the fair value of the bonds on December 31, 2019 had risen to $766 million.

Required:

Complete the below table to record the following journal entries.
1. & 2. Prepare the journal entry to adjust the bonds to their fair value for presentation in the December 31, 2018, balance sheet, and adjust the bonds to their fair value for presentation in the December 31, 2019, balance sheet. Federal determined that one-half of the increase in fair value was due to a decline in general interest rates.

• Calculation
• General Journal

Complete the below table to record the following journal entries. (Negative amount should be indicated by a minus sign. Round final answers to the nearest whole dollars.)

• Calculation

• Journal entry worksheet

• Record the interest expense.

• Note: Enter debits before credits.

  	Date General Journal Debit Credit June 30, 2018

• Record the interest expense.

• Note: Enter debits before credits.

  	Date General Journal Debit Credit December 31, 2018

• Record the fair value adjustment.

Note: Enter debits before credits.

• Record the interest expense.

Note: Enter debits before credits.

• Record the interest expense.

Note: Enter debits before credits.

• Federal determined that one-half of the increase in fair value was due to a decline in general interest rates.

Note: Enter debits before credits.

1) Suppose a normally distributed set of data has a mean of 179 and a standard deviation of 17. Use the 68-95-99.7 Rule to determine the percent of scores in the data set expected to be below a score of 213. Give your answer as a percent and includeas many decimal places as the 68-95-99.7 rule dictates. (For example, enter 99.7 instead of 0.997.)

2) Suppose a normally distributed set of data with 2800 observations has a mean of 100 and a standard deviation of 15. Use the 68-95-99.7 Rule to determine the number of observations in the data set expected to be below a value of 145. Round your result to the nearest single observation.

3) Suppose a normally distributed set of data with 6100 observations has a mean of 163 and a standard deviation of 16. Use the 68-95-99.7 Rule to determine the number of observations in the data set expected to be above a value of 147. Round your answer to the nearest whole value.

4) In a mid-size company, the distribution of the number of phone calls answered each day by each of the 12 receptionists is bell-shaped and has a mean of 53 and a standard deviation of 8. Using the empirical (68-95-99.7) rule, what is the approximate percentage of daily phone calls numbering between 37 and 69?

5) The physical plant at the main campus of a large state university receives daily requests to replace florescent light bulbs. The distribution of the number of daily requests is bell-shaped and has a mean of 61 and a standard deviation of 8. Using the empirical (68-95-99.7) rule, what is the approximate percentage of light bulb replacement requests numbering between 61 and 77? Do not enter the percent symbol.

Please provide an aswer and reference(s) to the question below from a classmate. Thank you in advance!

Class,

I am having a problem with the following problem:

A certain brand of automobile tire has a mean life span of 39,000 miles and a standard deviation of 2,250 miles.​ (Assume the life spans of the tires have a​ bell-shaped distribution.)

For the life span of 34,000 miles, z-score is = 34,000 x 39,000 = -2.22

2,250

For the life span of 34,000 miles, z-score is = 38,000 x 39,000 = -0.44

2,250

For the life span of 34,000 miles, z-score is = 31,000 x 39,000 = -3.56

2,250

The following is the part I am having trouble with:

The life spans of three randomly selected tires are 34,500 miles, 43,500 miles, and 39,000

miles. Using the empirical​ rule, find the percentile that corresponds to each life span:

1. The life span 34,500 miles corresponds to the ___th percentile?

2. The life span 43,500 miles corresponds to the ___th percentile?

3. The life span 39,000 miles corresponds to the ___th percentile?

I have found in the text in Chapter 2, p.88 where it talks about Empirical Rules and Bell-Shaped Distribution. I did find that number 3 is "50"th percentile, as it is also the mean value in this problem set. Numbers 1 and 2 I am having an issue calculating. Any help from my battle buddies would be outstanding. Thank you in advance!

Reference:

Larson, R. & Farber, B. (2015). Elementary Statistics: picturing the world. 6th edition.