Kassidy Alba started The Alba Consulting Group, a new business that began operations on May 1, 2014. The Alba Consulting Group completed the following transactions during the month of May: May 1 K. Alba invested $80,000 cash in the business 1 Rented a furnished office and paid $4,000 cash for four month’s rent 3 Purchased $1,890 of office equipment on credit 3 Paid $5,000 cash for the premium on a 10-month insurance policy 5 Paid $250 cash for this month’s cleaning services 7 Paid $425 cash for office supplies 8 Provided consulting services for a client and immediately collected $5,400 cash 10 Purchased a used Toyota Camry for business use – paid $8,000 cash -the expected life of the vehicle is 4 years, with $800 salvage value 12 Provided $2,500 of consulting services for a client on credit 15 Paid $750 cash for an assistant’s salary for the first half of this month 20 Received $2,000 cash, partial payment for the services provided on May 12 22 Provided $3,200 of consulting services on credit 25 Received $1,200 cash, partial payment for the services provided on May 22 26 Paid $1,000 cash, partial payment for the office equipment purchased on May 3 27 Purchased $80 of advertising for May in the Grandview Herald and paid cash 28 Paid $750 cash for an assistants salary for the second half of the month 28 Provided $3,500 of consulting services - collected $1,000 cash, the balance on credit 30 Paid $300 cash for this month’s telephone bill 30 Paid $280 cash for this month’s utilities 31 Alba withdrew $1,400 cash for personal use Chart of Accounts: Cash Accounts Payable* Office Supplies Expense Office Equipment K. Alba, Capital Cleaning Expense Vehicle – Toyota Camry K. Alba, Withdrawals Telephone Expense Accumulated Depreciation – Vehicle Consulting Services Revenue Utilities Expense Office Supplies Salaries Expense Advertising Expense Accounts Receivable* Depreciation Expense Income Summary Prepaid Insurance Insurance Expense Prepaid Rent Rent Expense *For this exercise, post all transactions from customers to the account receivable ledger account; post all transactions on credit to the accounts payable account. 1. Prepare journal entries for the above transactions for the month of May. 2. Open general ledger accounts for the above accounts. 3. Post the journal entries to the general ledger. 4. Prepare an unadjusted trial balance. 5. Do adjusting entries (rent, depreciation, insurance and office supplies) for the month of May. During the month of May, the business used $125 in Office Supplies 6. Prepare an adjusted trial balance. 7. Prepare an Income Statement, Statement of Owner’s Equity, and Balance Sheet for the Month of May. 8. Do closing entries (revenue, expense to income summary, income summary and withdrawals to owner’s equity). 9. Prepare a post-closing trial balance. Check Figures: Ending Cash Balance $67,365 Unadjusted Trial Balance $95,490 Adjusted Trial Balance $95,640 Net Income $10,415 Posting Closing Trial Balance $90,055 I just need help with Questions 5 - 8 please.

Progressive Insurance offers mail-order automobile insurance to preferred-risk drivers in New York State. The company is the low-cost provider of insurance in this market with fixed costs of $20 million per year, plus variable costs of $500 for each driver insured on an annual basis. Annual demand and marginal revenue relations for the company are:

P = $1,500 - $0.005Q

MR = $1,500 - $0.01Q

How do you Graph the firm’s demand curve and marginal revenue curve in excel?

The frequency distribution below shows the monthly expenditure on gasoline for a sample of 14 individuals.

#1a). Compute the coefficient of variation.

#1b) The prior probabilities for events A1 and A2 are P (A1) = .40 and P (A2) = .60. It is also known that P (A1 n A2) = 0. Suppose P (B | A1) = .20 and P (B | A2) = .05.

#1bi). Are A1 and A2 mutually exclusive? Explain?

#1bii). Compute P(A1 n B) and P(A2 n B)

The records at the end of January of the current year for Young Company showed the following for a particular kind of merchandise:

Beginning Inventory at FIFO: 17 Units @ $20 = $340

Beginning Inventory at LIFO: 17 Units @ $16 = $272

Required:

1. Compute the inventory turnover ratio for the month of January under the FIFO and LIFO inventory costing methods.

2. Which costing method is the more accurate indicator of the efficiency of inventory management?

The records at the end of January of the current year for Young Company showed the following for a particular kind of merchandise: Beginning Inventory at FIFO: 14 Units @ $16 = $224 Beginning Inventory at LIFO: 14 Units @ $12 = $168 Transactions Units Unit Cost Total Cost Purchase, January 9 28 $ 14 $ 392 Purchase, January 20 54 19 1,026 Sale, January 21 (at $42 per unit) 37 Sale, January 27 (at $43 per unit) 27

Compute the inventory turnover ratio for the month of January under the FIFO and LIFO inventory costing methods. (Do not round intermediate calculations and round your final answers to 2 decimal places.)

Discuss the 3 components of the Cash Conversion cycle. Discuss some of the ways you would speed up cash flow such as, how would you encourage your customers to pay their bills? Is it better to offer your customers credit or take credit cards instead?

​Wellness, a healthy living​ magazine, collected $ 540, 000 in subscription revenue on May 31. Each subscriber will receive an issue of the magazine in each of the next 12​ months, beginning with the June issue. The company uses the accrual method of accounting. What is the balance in the Unearned Revenue account as of December​ 31?

With the COVID-19 crisis, a manager is concerned with handling the amount of customers arriving to his store. The manager assumes that the number of customers, X, arriving per hour has a Poisson distribution with mean rate of 10 customers per hour. Use this distribution for exercises!

1. Use R to generate the pmf of X.

2. Use R to plot the pmf of X.

3. Give the probability that at least 11 customers arrive to the store in a given hour.

4. There are 10 cards face down on a table and 3 of them are aces. If 5 of these cards are selected at random, what is the probability that at least 2 of them are aces?

5. Defects in a certain type of aluminum screen appear on the average of one in 150 square feet. If we assume the Poisson distribution, find the probability of at most one defect in 230 square feet.

With the COVID-19 crisis, a manager is concerned with handling the amount of customers arriving to his store. The manager assumes that the number of customers, X, arriving per hour has a Poisson distribution with mean rate of 10 customers per hour. Use this distribution for exercises!

1. Use R to generate the pmf of X.

2. Use R to plot the pmf of X.

3. Give the probability that at least 11 customers arrive to the store in a given hour.

4. There are 10 cards face down on a table and 3 of them are aces. If 5 of these cards are selected at random, what is the probability that at least 2 of them are aces?

5. Defects in a certain type of aluminum screen appear on the average of one in 150 square feet. If we assume the Poisson distribution, find the probability of at most one defect in 230 square feet.

Part II: Causes

A.

Consider whether each of the following relationships is a causal relationship or merely a correlation.

Discuss how you would go about verifying which type it is. (10 points)

1. There has been an increase in the number of twins being born and a later age of marriage in the past

decade.

2. During the past decade there has been a decrease in the size of the Greenland ice cap and an increase in

the number of twins being born.

3. People who are members of a religious organization tend to be happier.

4. Jason drank nine bottles of beer at the party and is having trouble walking straight.

5. Almost all the animals that could flee to higher ground did so shortly before the tsunami struck Indonesia in

2004.