A veterinarian is interested in determining whether or not an overweight dog would benefit more from daily 30 minute walks or from 30 minutes of daily play in a dog park. Design an experiment for the veterinarian, using 60 chubby dogs.
In: Statistics and Probability
What is the limiting reagent in esterification using isopentyl alcohol and acetyl chloride to make isopentyl acetate? Prove your answer with limiting reagent calculations.
Used 200 uL of isopentyl alcohol, 800 uL of acetyl chloride in the experiment.
In: Chemistry
Two cards are drawn at random from a standard deck of 52 cards. The number of aces drawn is counted. Prepare a probability distribution for this random experiment. Hint: Find the probability that no aces are drawn, exactly one ace is drawn, etc.
In: Statistics and Probability
An independent sample experiment uses 25 participants in one group and 30 participants in the second group to compare the two population means. What is the degrees of freedom used in this test ?
a.
25
b.
24
c.
30
d.
29
In: Statistics and Probability
Draw an experiment circuit to produce and measure a 5 kA peak lightning impulse current. In the test circuit, determine the methods of measuring the pulse current, determining the element values and properties according to the current to be measured. Describe one of the methods.
In: Electrical Engineering
How does the magnitude, sign, and rate of change of the magnetic flux, and the number of turns in the secondary affect the induced emf? In an experiment of Moving a permanent magnet AND an electromagnet in and out of a pickup coil and seeing the brightness or voltage.
Relating to Faraday's Law
In: Physics
In: Biology
The following financial information is for Wildhorse Company.
|
WILDHORSE COMPANY |
||||
|---|---|---|---|---|
|
Assets |
2017 |
2016 |
||
|
Cash |
$ 70,000 |
$ 68,000 |
||
|
Debt investments (short-term) |
51,000 |
40,000 |
||
|
Accounts receivable |
109,000 |
91,000 |
||
|
Inventory |
231,000 |
167,000 |
||
|
Prepaid expenses |
27,000 |
26,000 |
||
|
Land |
134,000 |
134,000 |
||
|
Building and equipment (net) |
264,000 |
186,000 |
||
|
Total assets |
$886,000 |
$712,000 |
||
|
Liabilities and Stockholders’ Equity |
||||
|
Notes payable |
$171,000 |
$109,000 |
||
|
Accounts payable |
67,000 |
53,000 |
||
|
Accrued liabilities |
41,000 |
41,000 |
||
|
Bonds payable, due 2017 |
250,000 |
170,000 |
||
|
Common stock, $10 par |
206,000 |
206,000 |
||
|
Retained earnings |
151,000 |
133,000 |
||
|
Total liabilities and stockholders’ equity |
$886,000 |
$712,000 |
||
|
WILDHORSE COMPANY |
||||
|---|---|---|---|---|
|
2017 |
2016 |
|||
|
Sales revenue |
$ 899,000 |
$ 798,000 |
||
|
Cost of goods sold |
650,000 |
575,000 |
||
|
Gross profit |
249,000 |
223,000 |
||
|
Operating expenses |
192,000 |
168,000 |
||
|
Net income |
$ 57,000 |
$ 55,000 |
||
Additional information:
| 1. | Inventory at the beginning of 2016 was $ 117,000. | |
| 2. | Accounts receivable (net) at the beginning of 2016 were $ 90,000. | |
| 3. | Total assets at the beginning of 2016 were $ 634,000. | |
| 4. | No common stock transactions occurred during 2016 or 2017. | |
| 5. | All sales were on account. |
A) Compute the liquidity and profitability ratios
of Wildhorse Company for 2016 and 2017. (Round all
answers to 2 decimal places, e.g. 1.83 or 1.83%. If % change is a
decrease show the numbers as negative, e.g. -1.83% or
(1.83%).)
B) Given below are three independent situations and a ratio that may be affected. For each situation, compute the affected ratio (1) as of December 31, 2017, and (2) as of December 31, 2018, after giving effect to the situation. (Round all answers to 2 decimal places, e.g. 1.83 or 1.83%. If % change is a decrease show the numbers as negative, e.g. -1.83% or (1.83%).)
|
Situation |
Ratio |
|||
|---|---|---|---|---|
|
1. |
18,000 shares of common stock were sold at par on July 1, 2018. Net income for 2018 was $ 54,000. |
Return on common stockholders’ equity | ||
|
2. |
All of the notes payable were paid in 2018. All other liabilities remained at their December 31, 2017 levels. Total assets on December 31, 2018, were $ 908,000. |
Debt to assets ratio | ||
|
3. |
The market price of common stock was $ 9 and $ 12 on December 31, 2017 and 2018, respectively. |
Price-earnings ratio |
||
In: Accounting
|
The Town of Bedford Falls approved a General Fund operating budget for the fiscal year ending June 30, 2017. The budget provides for estimated revenues of $2,838,000 as follows: property taxes, $1,948,000; licenses and permits, $380,000; fines and forfeits, $280,000; and intergovernmental (state grants), $230,000. The budget approved appropriations of $2,782,000 as follows: General Government, $530,000; Public Safety, $1,660,000; Public Works, $380,000; Culture and Recreation, $156,000; and Miscellaneous, $56,000. |
| Required |
| a&b. |
Prepare the journal entry (or entries), to record the Town of Bedford Falls’s General Fund operating budget on July 1, 2016, the beginning of the Town’s 2017 fiscal year and also record the following transactions that occurred during the month of July 2016. Also show entries in the subsidiary ledger accounts, to record the Town of Bedford Falls’s General Fund operating budget on July 1, 2016, the beginning of the Town’s 2017 fiscal year. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) |
| 1. |
Revenues were collected in cash amounting to $37,000 for licenses and permits and $15,000 for fines and forfeits. |
| 2. |
Supplies were ordered by the following functions in early July 2016 at the estimated costs shown: |
| General Government | $ | 8,000 |
| Public Safety | 12,500 | |
| Public Works | 6,700 | |
| Culture and Recreation | 4,800 | |
| Miscellaneous | 1,500 | |
| Total | $ | 33,500 |
| 3. |
During July 2016, supplies were received at the actual costs shown below and were paid in cash. General Government, Culture and Recreation, and Miscellaneous received all supplies ordered. Public Safety and Public Works received part of the supplies ordered earlier in the month at estimated costs of $11,300 and $6,500, respectively. |
| Actual Cost | Estimated Cost | |||||
| General Government | $ | 7,900 | $ | 8,000 | ||
| Public Safety | 11,400 | 11,300 | ||||
| Public Works | 6,700 | 6,500 | ||||
| Culture and Recreation | 4,700 | 4,800 | ||||
| Miscellaneous | 1,500 | 1,500 | ||||
| Total | $ | 32,200 | $ | 32,100 | ||
| c. |
Calculate the amount of budgeted but unrealized revenues in total and from each source as of July 31, 2016. |
| d. |
Calculate the amount of available appropriation in total and for each function as of July 31, 2016. Revenues were collected in cash amounting to $37,000 for licenses and permits and $15,000 for fines and forfeits. Record the issuance of the purchase orders and contracts. Record the issuance of the purchase orders and contracts. |
In: Accounting
BC Co. took four tax deductions on their 2016 tax return that have issues that could result in some or all of the deductions being disallowed if ABC’s 2016 tax return is audited. ABC believes the deductions are justifiable but knows that tax law related to each item is unclear. Information about each deduction follows:
1) Amount of deduction $500,000
ABC’s probability full deduction will be allowed 60%
ABC’s estimate of potential deduction being allowed
500,000 60%
400,000 30%
250,000 10%
2) Amount of deduction $800,000
ABC’s probability full deduction will be allowed 40%
ABC’s estimate of potential deduction being allowed
800,000 40%
650,000 30%
500,000 20%
400,000 10%
3) Amount of deduction $300,000
ABC’s probability full deduction will be allowed 30%
ABC’s estimate of potential deduction being allowed
300,000 30%
250,000 15%
200,000 40%
125,000 15%
4) Amount of deduction $900,000
ABC’s probability full deduction will be allowed 45%
ABC’s estimate of potential deduction being allowed
900,000 45%
800,000 40%
650,000 15%
ABC’s 2016 tax rate was 25%. ABC is a calendar-year company. During 2017, ABC Co. received notification that its 2016 tax return was being audited. At December 31, 2017, the IRS had verbally communicated their findings on deductions 1 – 3. Their findings were as follows:
Deduction 1 $120,000 disallowed
Deduction 2 no disallowance
Deduction 3 $80,000 disallowed
Deduction 4 was still under examination at December 31, 2017. Prior to December 31, 2017, ABC and the IRS formalized their agreement on deductions 2 and 3 by signing IRS Form 906, “Closing Agreement on Final Determination Covering Specific Matters.” ABC is disputing the IRS’ findings related to deduction 1.
1. What amount if any liability should ABC recognize at December 31, 2016 related to the tax effects of these four deductions? (ignore possible interest and penalties)
2. Can ABC assert an “effective settlement” for any of the deductions taken on the 2016 tax return at December 31, 2017?
3. What amount of liability should ABC report at December 31, 2017 related to the 2016 deductions assuming ABC has not changed its assessment of deduction 1 or 4?
Provide authoritative support for your answer where necessary.
In: Accounting