1- The following is a list of all bacteria populations. Find the population standard deviation, range, and variance {2.1, 0.9, 4, 5.3, 3.2}

2- The age at the time of marriage was obtained for a random sample of 10 women. The results were 28, 24, 22, 25, 33, 35, 27, 26, 27, 20. Assume that the population has a normal distribution. Find a 90% confidence interval for the mean age at which a woman marries. Interpret your answer.

3- A study conducted at a certain college shows that 54% of the school’s graduates move to a different state after graduating. Find the probability that among 7 randomly selected graduates, at least one moves to a different state after graduating.

4- ) If a flight is on time 90% of the time, use a normal approximation to the binomial to find the probability that between 175 and 190 out of a total of 200 flights will be on time.

5- In a study done by Statistics Weekly, they found that 12% of people believe that there will eventually be a zombie apocalypse. Suppose we have a random sample of 500, would it be unusual to find 43 people who believe that there will eventually be a zombie apocalypse. Would it be unusual to find 70 people who believe that there will eventually be a zombie apocalypse?

Mead Company uses a perpetual inventory system and engaged in the following transactions during the month of May:

Required:

Record the May transactions in a general journal.

GENERAL JOURNAL

Three friends Bryce, Chris, Kate each decide to go skiing on the same day without knowing the other two are going as well. Bryce is going to decide between resorts A, B, P. Chris is going to decide between resorts A, S, or P. Kate is going to decide between resorts S, or A. All possible outcomes are equally likely.

1. Draw the tree diagram showing all possible outcomes for the day (the sample space).

2. What is the probability that at least two of them decide to go to the same resort?

3. What is the probability that three friends end up going to three different resorts?

Now a fourth friend, Michael, decides to go skiing on the same day as well. He is going to decide between resorts C, D, A, or S. Answer the following based on the four friends going skiing.

4. How many possible outcomes are there now? What is the probability that at least one of the four friends goes to the resort S? Hint: To avoid drawing a very large tree, you will need to use several different tools such as the multiplication rule for counting and the probability of unions of events.

The balance sheet provides a snapshot of the financial condition of a company. Investors and analysts use the information given on the balance sheet and other financial statements to make several interpretations regarding the company’s financial condition and performance.

Cold Goose Metal Works Inc. is a hypothetical company. Suppose it has the following balance sheet items reported at the end of its first year of operation. For the second year, some parts are still incomplete. Use the information given to complete the balance sheet.

Given the information in the preceding balance sheet—and assuming that Cold Goose Metal Works Inc. has 50 million shares of common stock outstanding—read each of the following statements, then identify the selection that best interprets the information conveyed by the balance sheet.

Statement #1:Cold Goose’s pool of relatively liquid assets, which are available to support the company’s current and future sales, decreased from Year 1 to Year 2.

This statement is     , because:

Cold Goose’s total current liabilities balance decreased by $1,125 million between Year 1 and Year 2

Cold Goose’s total current liabilities balance increased from $675 million to $844 million between Year 1 and Year 2

Cold Goose’s total current asset balance actually increased from $4,500 million to $5,625 million between Year 1 and Year 2

Statement #2: In Year 2, Cold Goose Metal Works Inc. was profitable.

This statement is     , because:

Cold Goose’s retained earnings account increased between the end of Years 1 and 2

Cold Goose’s total assets increased between Years 1 and 2

The cash and equivalents account increased between Years 1 and 2

Statement #3: One way to interpret the change in Cold Goose’s accounts receivable balance from Year 1 to Year 2 is that more customers purchased new items on credit rather than paying off existing credit accounts.

This statement is     , because:

The change from $1,980 million to $2,475 million reflects a net accumulation of new credit sales

The decrease from $844 million to $675 million implies a net decrease in accounts receivable and that more customers are paying off their receivables balances than are buying on credit

The $169 increase in accounts receivable means either that Year 1’s existing credit customers are not paying off their owed balances and new or existing customers are making additional purchases on credit, or that Year 1’s credit customers have repaid their owed balances and Year 2 credit sales have exceeded Year 1’s credit sales

Based on your understanding of the different items reported in the balance sheet and the information they provide, which statement regarding Cold Goose Metal Works Inc.’s balance sheet is consistent with U.S. Generally Accepted Accounting Principles (GAAP)?

The company’s assets should be listed in the order in which they are to be converted into cash.

The company’s assets should be listed in alphabetical order.

2. Balance sheet

The balance sheet provides a snapshot of the financial condition of a company. Investors and analysts use the information given on the balance sheet and other financial statements to make several interpretations regarding the company’s financial condition and performance.

Cute Camel Woodcraft Company is a hypothetical company. Suppose it has the following balance sheet items reported at the end of its first year of operation. For the second year, some parts are still incomplete. Use the information given to complete the balance sheet.

Given the information in the preceding balance sheet—and assuming that Cute Camel Woodcraft Company has 50 million shares of common stock outstanding—read each of the following statements, then identify the selection that best interprets the information conveyed by the balance sheet.

Statement #1:Cute Camel’s pool of relatively liquid assets, which are available to support the company’s current and future sales, decreased from Year 1 to Year 2.

This statement is     , because:

Cute Camel’s total current asset balance actually increased from $6,750 million to $8,437 million between Year 1 and Year 2

Cute Camel’s total current liabilities balance increased from $1,013 million to $1,266 million between Year 1 and Year 2

Cute Camel’s total current liabilities balance decreased by $1,687 million between Year 1 and Year 2

Statement #2: In Year 2, Cute Camel Woodcraft Company was profitable.

This statement is     , because:

Cute Camel’s total assets increased between Years 1 and 2

The cash and equivalents account increased between Years 1 and 2

Cute Camel’s retained earnings account increased between the end of Years 1 and 2

Statement #3: One way to interpret the change in Cute Camel’s accounts receivable balance from Year 1 to Year 2 is that more customers purchased new items on credit rather than paying off existing credit accounts.

This statement is     , because:

The $253 increase in accounts receivable means either that Year 1’s existing credit customers are not paying off their owed balances and new or existing customers are making additional purchases on credit, or that Year 1’s credit customers have repaid their owed balances and Year 2 credit sales have exceeded Year 1’s credit sales

The change from $2,970 million to $3,712 million reflects a net accumulation of new credit sales

The decrease from $1,266 million to $1,013 million implies a net decrease in accounts receivable and that more customers are paying off their receivables balances than are buying on credit

Based on your understanding of the different items reported on the balance sheet and the information they provide, which statement regarding Cute Camel Woodcraft Company’s balance sheet is consistent with U.S. Generally Accepted Accounting Principles (GAAP)?

The company’s debts are listed in the order in which they are to be repaid.

The company’s debts should be listed in order of their liquidity.

The company’s debts should be listed from those carrying the largest balance to those with the smallest balance.

On February 1, 2021, Arrow Construction Company entered into a three-year construction contract to build a bridge for a price of $8,000,000. During 2021, costs of $2,000,000 were incurred, with estimated costs of $4,000,000 yet to be incurred. Billings of $2,500,000 were sent, and cash collected was $2,250,000.

In 2022, costs incurred were $2,500,000 with remaining costs estimated to be $3,600,000. 2022 billings were $2,750,000, and $2,475,000 cash was collected. The project was completed in 2023 after additional costs of $3,800,000 were incurred. The company’s fiscal year-end is December 31. This project does not qualify for revenue recognition over time.
  
Required:
1. Calculate the amount of revenue and gross profit or loss to be recognized in each of the three years.
2a. Prepare journal entries for 2021 to record the transactions described (credit "various accounts" for construction costs incurred).
2b. Prepare journal entries for 2022 to record the transactions described (credit "various accounts" for construction costs incurred).
3a. Prepare a partial balance sheet to show the presentation of the project as of December 31, 2021.
3b. Prepare a partial balance sheet to show the presentation of the project as of December 31, 2022.

On February 1, 2018, Arrow Construction Company entered into a three-year construction contract to build a bridge for a price of $8,500,000. During 2018, costs of $2,200,000 were incurred, with estimated costs of $4,200,000 yet to be incurred. Billings of $2,740,000 were sent, and cash collected was $2,450,000.

In 2019, costs incurred were $2,740,000 with remaining costs estimated to be $3,900,000. 2019 billings were $2,990,000, and $2,675,000 cash was collected. The project was completed in 2020 after additional costs of $4,000,000 were incurred. The company’s fiscal year-end is December 31. This project does not qualify for revenue recognition over time.

Required:

1. Calculate the amount of revenue and gross profit or loss to be recognized in each of the three years.

2a. Prepare journal entries for 2018 to record the transactions described (credit "various accounts" for construction costs incurred).

2b. Prepare journal entries for 2019 to record the transactions described (credit "various accounts" for construction costs incurred).

3a. Prepare a partial balance sheet to show the presentation of the project as of December 31, 2018.

3b. Prepare a partial balance sheet to show the presentation of the project as of December 31, 2019.

On February 1, 2021, Arrow Construction Company entered into a three-year construction contract to build a bridge for a price of $8,050,000. During 2021, costs of $2,020,000 were incurred, with estimated costs of $4,020,000 yet to be incurred. Billings of $2,524,000 were sent, and cash collected was $2,270,000.

In 2022, costs incurred were $2,524,000 with remaining costs estimated to be $3,630,000. 2022 billings were $2,774,000, and $2,495,000 cash was collected. The project was completed in 2023 after additional costs of $3,820,000 were incurred. The company’s fiscal year-end is December 31. This project does not qualify for revenue recognition over time.

Required:
1. Calculate the amount of revenue and gross profit or loss to be recognized in each of the three years.
2a. Prepare journal entries for 2021 to record the transactions described (credit "various accounts" for construction costs incurred).
2b. Prepare journal entries for 2022 to record the transactions described (credit "various accounts" for construction costs incurred).
3a. Prepare a partial balance sheet to show the presentation of the project as of December 31, 2021.
3b. Prepare a partial balance sheet to show the presentation of the project as of December 31, 2022.

On February 1, 2021, Arrow Construction Company entered into a three-year construction contract to build a bridge for a price of $8,000,000. During 2021, costs of $2,000,000 were incurred, with estimated costs of $4,000,000 yet to be incurred. Billings of $2,500,000 were sent, and cash collected was $2,250,000.

In 2022, costs incurred were $2,500,000 with remaining costs estimated to be $3,600,000. 2022 billings were $2,750,000, and $2,475,000 cash was collected. The project was completed in 2023 after additional costs of $3,800,000 were incurred. The company’s fiscal year-end is December 31. This project does not qualify for revenue recognition over time.
  
Required:
1. Calculate the amount of revenue and gross profit or loss to be recognized in each of the three years.
2a. Prepare journal entries for 2021 to record the transactions described (credit "various accounts" for construction costs incurred).
2b. Prepare journal entries for 2022 to record the transactions described (credit "various accounts" for construction costs incurred).
3a. Prepare a partial balance sheet to show the presentation of the project as of December 31, 2021.
3b. Prepare a partial balance sheet to show the presentation of the project as of December 31, 2022.

On February 1, 2018, Arrow Construction Company entered into a three-year construction contract to build a bridge for a price of $8,075,000. During 2018, costs of $2,030,000 were incurred, with estimated costs of $4,030,000 yet to be incurred. Billings of $2,536,000 were sent, and cash collected was $2,280,000.

In 2019, costs incurred were $2,536,000 with remaining costs estimated to be $3,645,000. 2019 billings were $2,786,000, and $2,505,000 cash was collected. The project was completed in 2020 after additional costs of $3,830,000 were incurred. The company’s fiscal year-end is December 31. This project does not qualify for revenue recognition over time.

Required:
1. Calculate the amount of revenue and gross profit or loss to be recognized in each of the three years.
2a. Prepare journal entries for 2018 to record the transactions described (credit "various accounts" for construction costs incurred).
2b. Prepare journal entries for 2019 to record the transactions described (credit "various accounts" for construction costs incurred).
3a. Prepare a partial balance sheet to show the presentation of the project as of December 31, 2018.
3b. Prepare a partial balance sheet to show the presentation of the project as of December 31, 2019.