What standard classifications are used in preparing a classified balance sheet? What is meant by the term "operating cycle? Distinguish between long-term investments and property, plant, and equipment. Define current assets. What basis is used for arranging individual items within the current assets section? Describe the differences between cash and accrual accounting. Discuss the major principles in Accounting What is FASB and what is its purpose? What is revenue recognition? What are the basic elements of a financial statement? What are the objectives of financial reporting?

Question provided us with Adjusted, Unadjusted and Post-closing trial balance sheets. With this information listed below please fill in:

• General Journal (10 transactions)
• Income Statement
• St Owner Equity
• Balance Sheet
• Work Sheet

The Mobility Solutions Company began operations on December 1, 2019. The unadjusted trial balance of the Mobility Solutions Company as of December 31, 2019 is found on the trial balance tab. The following information is required to prepare the necessary adjusting entries for the Mobility Solutions Company found in chapter 3.

1. 1) The balance in Prepaid insurance represents a 24-month policy that went into effect on December 1, 2019. Review the unadjusted balance in Prepaid insurance, and prepare the necessary adjusting entry, if any.

2. 2) Based on a physical count, supplies on hand total $4,650. Review the unadjusted balance in Supplies, and prepare the necessary adjusting entry, if any.

3. 3) The equipment is expected to have a 4-year useful life, and be worth about $10,000 at the end of four years. Review the unadjusted balance in Accumulated depreciation, and prepare the necessary adjusting entry, if any.

4. 4) On December 26, the client paid a $9,000 60-day fee in advance, covering December 27 to February 24. Review the unadjusted balance in Unearned Consulting Revenue, and prepare the necessary adjusting entry, if any.

5. 5) Mobility Solutions's sole employee earns $160 per day for a five-day workweek beginning on Monday and ending on Friday. The employee was last paid on Friday, December 26. Review the unadjusted balance in Salaries payable, and prepare the necessary adjusting entry, if any.

6. 6) In the second week of December, Mobility Solutions agreed to provide 30 days of consulting services to a local fitness club for a fixed fee of $3,900. The terms of the initial agreement call for Mobility Solutions to provide services from December 12, 2019, through January 10, 2020, or 30 days of service. The club agrees to pay Mobility Solutions $3,900 on January 10, 2020, when the service period is complete. Review the unadjusted balance in Consulting revenue, and prepare the necessary adjusting entry, if any.

Prepare the required adjusting and closing entries for the Mobility Solutions Company.

• 1 The balance in Prepaid insurance represents a 24-month policy that went into effect on December 1, 2019. Review the unadjusted balance in Prepaid insurance, and prepare the necessary adjusting entry, if any.

• 2Based on a physical count, supplies on hand total $4,650. Review the unadjusted balance in Supplies, and prepare the necessary adjusting entry, if any.

• 3The equipment is expected to have a 4-year useful life, and be worth about $10,000 at the end of four years. Review the unadjusted balance in Accumulated depreciation, and prepare the necessary adjusting entry, if any.

• 4On December 26, the client paid a $9,000 60-day fee in advance, covering December 27 to February 24. Review the unadjusted balance in Unearned Consulting Revenue, and prepare the necessary adjusting entry, if any.

• 5Mobility Solutions's sole employee earns $160 per day for a five-day workweek beginning on Monday and ending on Friday. The employee was last paid on Friday, December 26. Review the unadjusted balance in Salaries payable, and prepare the necessary adjusting entry, if any.

• 6In the second week of December, Mobility Solutions agreed to provide 30 days of consulting services to a local fitness club for a fixed fee of $3,900. The terms of the initial agreement call for Mobility Solutions to provide services from December 12, 2019, through January 10, 2020, or 30 days of service. The club agrees to pay Mobility Solutions $3,900 on January 10, 2020, when the service period is complete. Review the unadjusted balance in Consulting revenue, and prepare the necessary adjusting entry, if any.

• 7Prepare the journal entry necessary to close the revenue account(s).

• 8Prepare the journal entry necessary to close the expense account(s).

• 9Prepare the journal entry to close Income Summary.

• 10Prepare the journal entry to close R. Walsh, Withdrawals.

Unadjusted

Post-closing

1. Fractional reserve banking is

I. feasible because new deposits typically just about offset new withdrawals

II. requires regulation in order for it to exist

III. an example of financial innovation

A sample of 1000 customers was selected in Rhode Island to determine various information concerning consumer behavior. Among the questions asked was “Do you enjoy shopping at Shopping Center A?” The results are summarized in the following table.

1. Is there evidence of a significant difference between males and females in the proportion who enjoy shopping at Shopping Center A at the 0.01 level of significance?
2. Construct and interpret a 95% confidence interval estimate for the difference between the proportion of males and females who enjoy shopping at Shopping Center A.

Consider the following table for the U.S.

a) Does the AD curve shift to the right more or less than the LRAS curve in a dynamic AD-AS model from 2006 to 2007? Explain why verbally.

b) Explain why the Federate Funds Rate declines from 2007 to 2009 using Taylor Rule. Based on the Federate Funds Rate data in the table, explain the limitation of monetary policy that is implemented through open market operation during severe recession.

c) Suppose a military operation that costs $200 billion in 2011 can help the real GDP recover to $16.2 trillion one year earlier. What is the minimal required MPC of households in the Aggregate Expenditure model if there is no tax wedge on household income? What if the tax wedge is 1/3 of the pretax household income? What is the difference between the answer based on the Aggregate Expenditure model and the answer based on the static AD-AS model.

d) There was large fiscal stimulus during 2009-2011. People believe that fiscal stimulus is more powerful in 2011 compared to 2017. Explain why this can be true using the Federal Funds Rate data.

Lay out the design for two between-subjects experiments: a) an experiment involving an experimental group and a control group, and b) a factorial design with three independent variables that have three, and two levels respectively.

The Australian Competition and Consumer Commission (ACCC) has released a report stating that across all supermarkets in Australia, the percentage increase in prices approximately follows a normal distribution with a mean increase of 4.2% and standard deviation of 0.9%.

If 16 supermarkets are randomly chosen, what is the probability that the average percentage increase is between 4% and 5%.

Show all your calculations

Question 1 (4 points)

Calculate a 95% confidence interval of the mean expenditure of all male customers given that there were n = 131 males in the sample of 400, sample mean x = 50.1 and standard deviation s= 52.0.

Show all your calculations.

Question 2 (6 points)

Goodbuys is interested in determining the true proportion of all customers who rank the length of time they have to spend in queues as ‘excellent’. Given that 16.25% of the 400 customers who were surveyed gave a rating of ‘excellent’, calculate a 90% confidence interval for the true proportion.

Show all your calculations.

Interpret this confidence interval.

Question 3 (2 points)

State the assumptions you need to check before calculating the confidence interval in question 12.

Question 4 (4 points)

Suppose Goodbuy’s management want to know the true proportion of customers who rank the length of time they have to spend in queues as ‘excellent’ to within 3% with 95% confidence. How large a sample would need to be taken to achieve these requirements?

Show all your calculations.

two-question survey of 80 of its customers, who the management of the chain believe are representative of all of their shoppers. The first question on the survey asked the shoppers to estimate their average weekly expenditures ,The resulting responses were normally distributed with a mean of $40 and a standard deviation of $8. Because the chain is considering implementing a grocery delivery service, the second question on the survey asked whether or not the respondent would be interested in using such a service. 28 of the 80 respondents said that they would like to use a delivery service and the rest said that they would not. Customers' interest in using a delivery service and their weekly spending appear to be independent of one another.

Q1. : Provide the upper bound of a 90% confidence interval for the average weekly expenditure for the chain's entire population of shoppers.

Q2.: Provide the upper bound of a 90% confidence interval for the proportion of the chain's entire population of shoppers who would be likely to use a grocery delivery service

Q3.what is the estimated proportion of the chain's customers who are both interested in home deliveries and spend at least $50 per week at the stores?

Q4.: If we know that a customer who was not surveyed spends less than $40 per week at the chain, what is the estimated probability that this customer will be interested in home delivery, based on the estimates provided by this sample

Q5. Using the estimates provided by this sample, what is our best guess as to the percentage of the chain's customers who spend between $40 and $60 per week at the chain?

Create an ERD (using Crow’s Foot Notation) for the following description. Be sure to include all necessary entities, attributes, and correct cardinality in relationships between entities.

You have been asked to build a database for a sportswear company called AthFleet. The company owner needs to keep track of the customers that buy their products, the employees that work at AthFleet, the vendors that provide them with products, and the products themselves. Each vendor has contact with one employee representative and needs this support. Employees in their first year usually don’t have vendors to support, as they are learning the ropes, but as they work there longer and more vendors are reached, they may be assigned their only vendor. The owner wants to track employee names and email addresses, as well as vendor names and locations.

Vendors provide products to AthFleet, like shoes, apparel, and equipment. Each product they sell comes from only one vendor. Some products are made in house, but if a vendor is in the system they must have provided a product. The owner wants to track product names and each product’s unique SKU. Finally, customers purchase products from AthFleet and that transactional data needs to be recorded. Each product is often purchased by lots of customers, especially if it is popular. Customers are only put in the system if they have made a purchase, but a product does not need to have been purchased to be stored. The owner wants to keep track of customer names and email addresses.

ERD Lucid chart with Crow's foot notation for the following. include all entities, attributes, and correct carnality in relationships between entities. primary and foreign keys.

You have been asked to build a database for a sportswear company called Ath Fleet.

The company owner needs to keep track of the customers that buy their products, the employees that work at Ath Fleet, the vendors that provide them with products, and the products themselves.

Each vendor has contact with one employee representative and needs this support.

Employees in their first year usually don't have vendors to support, as they are learning the ropes, but as they work there longer and more vendors are reached, they may be assigned their only vendor.

The owner wants to track employee names and email addresses, as well as vendor names and locations.Vendors provide products to Ath Fleet, like shoes, apparel, and equipment.

Each product they sell comes from only one vendor. Some products are made in house, but if a vendor is in the system they must have provided a product.

The owner wants to track product names and each product's unique SKU.

Finally, customers purchase products from Ath Fleet and that transaction data needs to be recorded. Each product is often purchased by lots of customers, especially if it is popular.

Customers are only put in the system if they have made a purchase, but a product does not need to have been purchased to be stored.

The owner wants to keep track of customer names and email addresses.