Confidence Intervals for a proportion and mean Do all steps in the confidence interval:

a) Check when easy the requirements for the interval (t-interval)

b) Create a summary of the information that goes into the interval

c) Write out the formula for the interval

d) Replace the symbols in the formula with the numbers from (b)

e) Produce the interval

f) Interpret the interval

In 1998, as an advertising campaign, the Nabisco Company announced a "1000 Chips Challenge," claiming that every 18-ounce bag of cookies contained at least 1000 chocolate chips. Students tested this by getting bags and counting. Create a 95% interval for the mean number of chocolate chips per bag.

An insurance company checks police records on 582 accidents selected at random and notes that teenagers were at the wheel in 91 of them. Create a 95% confidence interval for the percentage of all auto accidents that involve teenage drivers.

A company with a large fleet of cars hopes to keep gasoline costs down and sets a goal of attaining a fleet average of at least 26 miles per gallon. To see if the goal is being met, they check the gasoline usage for 50 company trips chosen at random, finding a mean of 25.02 mpg and a standard deviation of 4.83 mpg. Produce a 99% confidence interval for the average mpg.

A May 2007 Gallup Poll found that only 11% of a random sample of 1003 adults approved of attemps to clone a human. Produce a 90% confidence interval for the percentage of adults that approve of attempts to clone a human

The mayor of a small city suggested that the state locate a new prison there, arguing that the construction project and resulting jobs will be good for the local economy. A total of 2183 residents show up for a public hearing on the proposal, and a show of hands finds only 31 in favor of the prison project. What can the city council conclude about public support for the mayor's initiative? Produce a 98% confidence interval to answer the question.

The following unadjusted trial balance is for Ace Construction Co. as of the end of its 2019 fiscal year. The June 30, 2018, credit balance of the owner’s capital account was $57,800, and the owner invested $25,000 cash in the company during the 2019 fiscal year.

Adjustments:

1. The supplies available at the end of fiscal year 2019 had a cost of $3,420.
2. The cost of expired insurance for the fiscal year is $3,465.
3. Annual depreciation on equipment is $8,600.
4. The June utilities expense of $580 is not included in the unadjusted trial balance because the bill arrived after the trial balance was prepared. The $580 amount owed needs to be recorded.
5. The company’s employees have earned $1,000 of accrued and unpaid wages at fiscal year-end.
6. The rent expense incurred and not yet paid or recorded at fiscal year-end is $300.
7. Additional property taxes of $600 have been assessed for this fiscal year but have not been paid or recorded in the accounts.
8. The $220 accrued interest for June on the long-term notes payable has not yet been paid or recorded.

Required:
1. Prepare a 10-column work sheet for fiscal year 2019, starting with the unadjusted trial balance and including adjustments based on the additional facts. The June 30, 2018, credit balance of the owner’s capital account was $57,800, and the owner invested $25,000 cash in the company during the 2019 fiscal year.
2a. Prepare the adjusting entries. (all dated June 30, 2019).
2b. Prepare the closing entries. (all dated June 30, 2019):
3a. Prepare the income statement for the year ended June 30, 2019.
3b. Prepare the statement of owner's equity for the year ended June 30, 2019.
3c. Prepare the classified balance sheet at June 30, 2019.

The Thompson Corporation, a manufacturer of steel products, began operations on October 1, 2019. The accounting department of Thompson has started the fixed-asset and depreciation schedule presented below. You have been asked to assist in completing this schedule. In addition to ascertaining that the data already on the schedule are correct, you have obtained the following information from the company's records and personnel: (FV of $1, PV of $1, FVA of $1, PVA of $1, FVAD of $1 and PVAD of $1) (Use appropriate factor(s) from the tables provided.)

1. Depreciation is computed from the first of the month of acquisition to the first of the month of disposition.
2. Land A and Building A were acquired from a predecessor corporation. Thompson paid $832,500 for the land and building together. At the time of acquisition, the land had a fair value of $110,400 and the building had a fair value of $809,600.
3. Land B was acquired on October 2, 2019, in exchange for 3,200 newly issued shares of Thompson’s common stock. At the date of acquisition, the stock had a par value of $5 per share and a fair value of $27 per share. During October 2019, Thompson paid $10,600 to demolish an existing building on this land so it could construct a new building.
4. Construction of Building B on the newly acquired land began on October 1, 2020. By September 30, 2021, Thompson had paid $230,000 of the estimated total construction costs of $320,000. Estimated completion and occupancy are July 2022.
5. Certain equipment was donated to the corporation by the city. An independent appraisal of the equipment when donated placed the fair value at $16,800 and the residual value at $2,200.
6. Equipment A’s total cost of $112,000 includes installation charges of $570 and normal repairs and maintenance of $13,000. Residual value is estimated at $4,500. Equipment A was sold on February 1, 2021.
7. On October 1, 2020, Equipment B was acquired with a down payment of $4,200 and the remaining payments to be made in 10 annual installments of $4,200 each beginning October 1, 2021. The prevailing interest rate was 7%.

The Thompson Corporation, a manufacturer of steel products, began operations on October 1, 2019. The accounting department of Thompson has started the fixed-asset and depreciation schedule presented below. You have been asked to assist in completing this schedule. In addition to ascertaining that the data already on the schedule are correct, you have obtained the following information from the company's records and personnel: (FV of $1, PV of $1, FVA of $1, PVA of $1, FVAD of $1 and PVAD of $1) (Use appropriate factor(s) from the tables provided.)

1. Depreciation is computed from the first of the month of acquisition to the first of the month of disposition.
2. Land A and Building A were acquired from a predecessor corporation. Thompson paid $772,500 for the land and building together. At the time of acquisition, the land had a fair value of $103,200 and the building had a fair value of $756,800.
3. Land B was acquired on October 2, 2019, in exchange for 2,600 newly issued shares of Thompson’s common stock. At the date of acquisition, the stock had a par value of $5 per share and a fair value of $21 per share. During October 2019, Thompson paid $10,000 to demolish an existing building on this land so it could construct a new building.
4. Construction of Building B on the newly acquired land began on October 1, 2020. By September 30, 2021, Thompson had paid $170,000 of the estimated total construction costs of $260,000. Estimated completion and occupancy are July 2022.
5. Certain equipment was donated to the corporation by the city. An independent appraisal of the equipment when donated placed the fair value at $14,400 and the residual value at $1,600.
6. Equipment A’s total cost of $102,000 includes installation charges of $510 and normal repairs and maintenance of $10,600. Residual value is estimated at $5,000. Equipment A was sold on February 1, 2021.
7. On October 1, 2020, Equipment B was acquired with a down payment of $3,600 and the remaining payments to be made in 10 annual installments of $3,600 each beginning October 1, 2021. The prevailing interest rate was 7%.

Required:
Supply the correct amount for each answer box on the schedule. (Round your intermediate calculations and final answers to the nearest whole dollar.)

The Thompson Corporation, a manufacturer of steel products, began operations on October 1, 2019. The accounting department of Thompson has started the fixed-asset and depreciation schedule presented below. You have been asked to assist in completing this schedule. In addition to ascertaining that the data already on the schedule are correct, you have obtained the following information from the company's records and personnel: (FV of $1, PV of $1, FVA of $1, PVA of $1, FVAD of $1 and PVAD of $1) (Use appropriate factor(s) from the tables provided.)

1. Depreciation is computed from the first of the month of acquisition to the first of the month of disposition.
2. Land A and Building A were acquired from a predecessor corporation. Thompson paid $832,500 for the land and building together. At the time of acquisition, the land had a fair value of $110,400 and the building had a fair value of $809,600.
3. Land B was acquired on October 2, 2019, in exchange for 3,200 newly issued shares of Thompson’s common stock. At the date of acquisition, the stock had a par value of $5 per share and a fair value of $27 per share. During October 2019, Thompson paid $10,600 to demolish an existing building on this land so it could construct a new building.
4. Construction of Building B on the newly acquired land began on October 1, 2020. By September 30, 2021, Thompson had paid $230,000 of the estimated total construction costs of $320,000. Estimated completion and occupancy are July 2022.
5. Certain equipment was donated to the corporation by the city. An independent appraisal of the equipment when donated placed the fair value at $16,800 and the residual value at $2,200.
6. Equipment A’s total cost of $112,000 includes installation charges of $570 and normal repairs and maintenance of $13,000. Residual value is estimated at $4,500. Equipment A was sold on February 1, 2021.
7. On October 1, 2020, Equipment B was acquired with a down payment of $4,200 and the remaining payments to be made in 10 annual installments of $4,200 each beginning October 1, 2021. The prevailing interest rate was 7%.

Required:
Supply the correct amount for each answer box on the schedule. (Round your intermediate calculations and final answers to the nearest whole dollar.)

The following unadjusted trial balance is for Ace Construction Co. as of the end of its 2019 fiscal year. The June 30, 2018, credit balance of the owner’s capital account was $57,700, and the owner invested $26,000 cash in the company during the 2019 fiscal year.

Adjustments:

1. The supplies available at the end of fiscal year 2019 had a cost of $3,240.
2. The cost of expired insurance for the fiscal year is $4,410.
3. Annual depreciation on equipment is $8,500.
4. The June utilities expense of $580 is not included in the unadjusted trial balance because the bill arrived after the trial balance was prepared. The $580 amount owed needs to be recorded.
5. The company’s employees have earned $1,400 of accrued and unpaid wages at fiscal year-end.
6. The rent expense incurred and not yet paid or recorded at fiscal year-end is $300.
7. Additional property taxes of $500 have been assessed for this fiscal year but have not been paid or recorded in the accounts.
8. The $280 accrued interest for June on the long-term notes payable has not yet been paid or recorded.

Required:
1. Prepare a 10-column work sheet for fiscal year 2019, starting with the unadjusted trial balance and including adjustments based on the additional facts. The June 30, 2018, credit balance of the owner’s capital account was $57,700, and the owner invested $26,000 cash in the company during the 2019 fiscal year.
2a. Prepare the adjusting entries. (all dated June 30, 2019).
2b. Prepare the closing entries. (all dated June 30, 2019):
3a. Prepare the income statement for the year ended June 30, 2019.
3b. Prepare the statement of owner's equity for the year ended June 30, 2019.
3c. Prepare the classified balance sheet at June 30, 2019.
  

The following unadjusted trial balance is for Ace Construction Co. as of the end of its 2019 fiscal year. The June 30, 2018, credit balance of the owner’s capital account was $51,200, and the owner invested $22,000 cash in the company during the 2019 fiscal year.

Adjustments:

1. The supplies available at the end of fiscal year 2019 had a cost of $3,600.
2. The cost of expired insurance for the fiscal year is $3,150.
3. Annual depreciation on equipment is $8,600.
4. The June utilities expense of $590 is not included in the unadjusted trial balance because the bill arrived after the trial balance was prepared. The $590 amount owed needs to be recorded.
5. The company’s employees have earned $1,800 of accrued and unpaid wages at fiscal year-end.
6. The rent expense incurred and not yet paid or recorded at fiscal year-end is $400.
7. Additional property taxes of $900 have been assessed for this fiscal year but have not been paid or recorded in the accounts.
8. The $290 accrued interest for June on the long-term notes payable has not yet been paid or recorded.

Required:
1. Prepare a 10-column work sheet for fiscal year 2019, starting with the unadjusted trial balance and including adjustments based on the additional facts. The June 30, 2018, credit balance of the owner’s capital account was $51,200, and the owner invested $22,000 cash in the company during the 2019 fiscal year.
2a. Prepare the adjusting entries. (all dated June 30, 2019).
2b. Prepare the closing entries. (all dated June 30, 2019):
3a. Prepare the income statement for the year ended June 30, 2019.
3b. Prepare the statement of owner's equity for the year ended June 30, 2019.
3c. Prepare the classified balance sheet at June 30, 2019.