4. Determine the intervals on which the graph of each function is concave up or concave down and determine all points of inflection. Justify your responses.

a) y=1/20x^5 + 1/4x^4 - 3/2x^3 - 27/2x^2 + x-4

b) y=2x^1/5 +3

42-10. AQUESTION OF ETHICSBetween 1970 and 1981, Sanford Weill served as the chief executive officer (CEO) of Shearson Loeb Rhodes and several of its predecessor entities (collectively “Shearson”). In 1981, Weill sold his controlling interest in Shearson to the American Express Co., and between 1981 and 1985, he served as president of that firm. In 1985, Weill developed an interest in becoming CEO for BankAmerica and secured a commitment from Shearson to invest $1 billion in BankAmerica if he was successful in his negotiations with that firm. In early 1986, Weill met with BankAmerica directors several times, but these contacts were not disclosed publicly until February 20, 1986, when BankAmerica announced that Weill had sought to become its CEO but that BankAmerica was not interested in his offer. The day after the announcement, BankAmerica stock traded at prices higher than the prices at which it had traded during the five weeks preceding the announcement. Weill had discussed his efforts to become CEO of BankAmerica with his wife, who had discussed the information with her psychiatrist, Dr. Willis, prior to BankAmerica’s public announcement of February 20. She had also told Dr. Willis about Shearson’s decision to invest in BankAmerica if Weill succeeded in becoming its CEO. Willis disclosed to his broker this material, confidential information and purchased BankAmerica common stock. After BankAmerica’s public announcement and the subsequent increase in the price of its stock, Willis sold his shares and realized a profit of approximately $27,500. The court held that Willis was liable for insider trading under the misappropriation theory. [United States v. Willis, 737 F.Supp. 269 (S.D.N.Y. 1990)]1. The court stated in its opinion in this case that “[i]t is difficult to imagine a relationship that requires a higher degree of trust and confidence than the traditional relationship of physician and patient.” It then quoted the concluding words of the Hippocratic oath: “Whatsoever things I see or hear concerning the life of men, in my attendance on the sick or even apart therefrom, which ought not be noised abroad, I will keep silence thereon, counting such things to be as sacred secrets.” The court held that Willis had violated his fiduciary duty to Mrs. Weill, his patient, by investing in BankAmerica stock. Do you agree that Willis’s private investments, which were based on information learned through his sessions with Mrs. Weill, constituted a violation of his duty to his patient? After all, Willis had not “noised abroad” Mrs. Weill’s secrets—that is, he had not told others (except for his stockbroker) about the information. If you had been in Willis’s shoes, would you have felt ethically restrained from trading on the information?2. Can you think of any ways in which Willis’s trading could have been harmful to Mrs. Weill’s interests? Does your answer to this question have a bearing on how you answered Question 1?3. Do you think that the misappropriation theory of liability imposes too great a burden on outsiders, such as Willis? Why or why not? How might you justify, from an ethical point of view, the application of the misappropriation theory to “outsider trading”?

Hair Care Inc. is a wholesaler of hair supplies. Hair Care uses a perpetual inventory system. The following transactions (summarized) have been selected for analysis:

1. Compute Sales Revenue, Net Sales, and Gross Profit for Hair World.

3. Prepare journal entries to record transactions (a)–(e). (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)

4. Hair Care is considering a contract to sell merchandise to a hair salon chain for $15,400. This merchandise will cost Hair Care $10,000.

(a) Compute the new gross profit percentage. (

On January 1, 2018, the general ledger of 3D Family Fireworks includes the following account balances:
  

During January 2018, the following transactions occur:
  

The following information is available on January 31, 2018.

1. The company estimates future uncollectible accounts. The company determines $5,800 of accounts receivable on January 31 are past due, and 20% of these accounts are estimated to be uncollectible. The remaining accounts receivable on January 31 are not past due, and 5% of these accounts are estimated to be uncollectible. (Hint: Use the January 31 accounts receivable balance calculated in the general ledger.)
2. Supplies at the end of January total $650.
3. Accrued interest revenue on notes receivable for January. Interest is expected to be received each December 31.
4. Unpaid salaries at the end of January are $34,300.

1. Record each of the transactions listed above in the 'General Journal' tab (these are shown as items 1 - 7). Review the 'General Ledger' and the 'Trial Balance' tabs to see the effect of the transactions on the account balances.

2. Record the adjusting entries in the 'General Journal' tab (these are shown as items 8-11).

3. Review the adjusted 'Trial Balance' as of January 31, 2018, in the 'Trial Balance' tab.

4. Prepare an income statement for the period ended January 31, 2018, in the 'Income Statement' tab.

5. Prepare a classified balance sheet as of January 31, 2018 in the 'Balance Sheet' tab.

6. Record the closing entries in the 'General Journal' tab (these are shown as items 12 and 13).

7. Using the information from the requirements above, complete the 'Analysis' tab.

Please help

On January 1, 2021, the general ledger of 3D Family Fireworks includes the following account balances:

During January 2021, the following transactions occur:

The following information is available on January 31, 2021.

1. The company estimates future uncollectible accounts. The company determines $4,600 of accounts receivable on January 31 are past due, and 20% of these accounts are estimated to be uncollectible. The remaining accounts receivable on January 31 are not past due, and 5% of these accounts are estimated to be uncollectible. (Hint: Use the January 31 accounts receivable balance calculated in the general ledger.)
2. Supplies at the end of January total $800.
3. Accrued interest revenue on notes receivable for January. Interest is expected to be received each December 31.
4. Unpaid salaries at the end of January are $35,200.

REQUIREMENT:

1. Record each of the transactions listed above in the 'General Journal' tab (these are shown as items 1-7). Review the 'General Ledger' and the 'Trial Balance' tabs to see the effect of the transactions on the account balances.
2. Record the adjusting entries in the 'General Journal' tab (these are shown as items 8-11).
3. Review the adjusted 'Trial Balance' as of January 31, 2021, in the 'Trial Balance' tab.
4. Prepare an income statement for the period ended January 31, 2021, in the 'Income Statement' tab.
5. Prepare a classified balance sheet as of January 31, 2021 in the 'Balance Sheet' tab.
6. Record the closing entries in the 'General Journal' tab (these are shown as items 12 and 13).
7. Using the information from the requirements above, complete the 'Analysis' tab.

Kevin Rocks is a wholesale distributor of automotive replacement parts. Initial amounts taken from Kevin Rocks’ accounting records are as follows:

Accounts Payable at December 31, 2016

Additional information is as follows:

1) Parts held on consignment from Charlie to Kevin Rocks, the consignee, amounting to $155,000 were included in the physical count of goods in Kevin Rocks’ warehouse on December 31, 2016, and in accounts payable at December 31, 2016.

2) $22,000 of parts which were purchased from Full were paid for in December 2016, were sold in the last week of 2016 and appropriately recorded as sales of $28,000. The parts were included in the physical count of goods in Kevin Rocks’ warehouse on December 31, 2016, because the parts were on the loading dock waiting to be picked up by customers.

3) Parts in transit to customers on December 31, 2016, shipped FOB shipping point on December 28, 2016, amounted to $34,000. The customers received the parts on January 7, 2017. Sales of $40,000 to the customers for the parts were recorded by Kevin Rocks on January 3, 2017.

4) Retailers were holding $210,000 at cost ($250,000 at retail) of goods on consignment from Kevin Rocks at their stores on December 31, 2016.

5) Goods were in transit from Greg to Kevin Rocks on December 31, 2016. The cost of goods was $25,000 and they were shipped FOB shipping point on December 29, 2016.

6) A quarterly freight bill in the amount of $2,000 specifically relating to merchandise purchases in December 2016, all of which was still in the inventory at December 31, 2016, was received on January 4, 2017. The freight bill was not included in either the inventory or in accounts payable at December 31, 2016.

7) All of the purchases from Baker occurred during the last 7 days of the year. These items have been recorded in accounts payable and accounted for in the physical inventory at cost before discount. Kevin Rocks’ policy is to pay invoices in time to take advantage of all cash discounts, adjust inventory accordingly, and record accounts payable, net of cash discounts.

Required:

Prepare a schedule of adjustments to the initial amounts of inventory, accounts payable, and sales. Show the effect, if any, of each of the transactions separately and indicate if the transactions would have no effect on the amounts.

A salesperson must have a good understanding of the competition, customers, and everything connected with the company. Why should a salesperson take time to be up-to-date on facts about the economy and the industry?

Which of the following is the main goal of a continuing company?

A. To minimize costs

B. To Maximize the value of the firm

C. To enhance Service to its customers

D. To improve product quality