Match each scenario below with the most appropriate inferential technique. Group of answer choices

We want to test if at least half of students at a university feel as if the dorms need to be renovated.

We want to estimate the average number of calories in a combo meal at fast food restaurants.

The population standard deviation is unknown.

We want to test if the average number of miles that motorists drive between oil changes is greater than the recommended 3000 miles while assuming a population standard deviation of 1000 miles.

We want to test if high school marching bands are equally made up of freshmen, sophomores, juniors, and seniors.

We want to test if the average starting salary of software engineers out of college is greater than \$70,000. The population standard deviation is unknown. We want to estimate the proportion of people who speak more than one language fluently.

Research is defined as “a systematic investigation into and study of materials and sources in order to establish facts and research new conclusions”. Research also included designing research projects and performing statistical analysis. Design a research project that you feel would benefit the Clemson University Athletic Department. The research question is: What are the positive and negative effects of caffeine on athletic performance?

Included within your design and your research question, please provide a purpose statement, at least two hypotheses, a null hypothesis, the dependant and independant variable, a description of the type of data you will gather and how you will gather it, who is your population and how will you sample that population, and the type of statistical analysis you would use to analyze the data. Finally, please also discuss the potential benefit(s) the study would have on the athletic department.

During February, the last month of the fiscal year, Be My Valentine Ltd. sells $20,000 of gift cards. From experience, management estimates that 8% of the gift cards sold will not be redeemed by customers. In March, $2,000 of these cards is redeemed for merchandise with a cost of $500. In April, further $15,000 of these cards is redeemed for merchandise with a cost of $5,000. The company uses a perpetual inventory system.

Also in February, Be My Valentine had $1,000 of unused gift cards that were over one year old and were not expected to be used. The amount was in line with the company's normal breakage and all other gift cards of the same age had been used.

a. Prepare journal entries to record the transactions for February, March, and April.

b. How much income (if any) was earned in each of these months?

c. What liability (if any) would appear on the company's statement of financial position at the end of each of these months?

During February, the last month of the fiscal year, Be My Valentine Ltd. sells $20,000 of gift cards. From experience, management estimates that 8% of the gift cards sold will not be redeemed by customers. In March, $2,000 of these cards is redeemed for merchandise with a cost of $500. In April, further $15,000 of these cards is redeemed for merchandise with a cost of $5,000. The company uses a perpetual inventory system.

Also in February, Be My Valentine had $1,000 of unused gift cards that were over one year old and were not expected to be used. The amount was in line with the company's normal breakage and all other gift cards of the same age had been used.

a. Prepare journal entries to record the transactions for February, March, and April.

b. How much income (if any) was earned in each of these months?

c. What liability (if any) would appear on the company's statement of financial position at the end of each of these months?

Zachary Company has operating assets of $20,300,000. The company’s operating income for the most recent accounting period was $2,610,000. The Dannica Division of Zachary controls $8,210,000 of the company’s assets and earned $1,190,000 of its operating income. Zachary’s desired ROI is 8 percent. Zachary has $1,070,000 of additional funds to invest. The manager of the Dannica division believes that his division could earn $141,000 on the additional funds. The highest investment opportunity to any of the company’s other divisions is 9 percent.

Required

Calculate the ROI of Dannica Division.

(1) Before investment opportunity.

(2) Only on the new investment opportunity.

(3) Dannica total ROI if investment opportunity is accepted.

Calculate the Dannica Division residual income from the new investment opportunity. If residual income is used as the sole performance measure would the manager of the Dannica Division be likely to accept or reject the additional funding?

Thornton Company has operating assets of $19,500,000. The company’s operating income for the most recent accounting period was $2,690,000. The Dannica Division of Thornton controls $7,650,000 of the company’s assets and earned $1,220,000 of its operating income. Thornton’s desired ROI is 9 percent. Thornton has $1,100,000 of additional funds to invest. The manager of the Dannica division believes that his division could earn $141,000 on the additional funds. The highest investment opportunity to any of the company’s other divisions is 10 percent.

Required

1. Calculate the ROI of Dannica Division.

1. (1) Before investment opportunity.

2. (2) Only on the new investment opportunity.

3. (3) Dannica total ROI if investment opportunity is accepted.

3. Calculate the Dannica Division residual income from the new investment opportunity. If residual income is used as the sole performance measure would the manager of the Dannica Division be likely to accept or reject the additional funding?

Rooney Company has operating assets of $19,100,000. The company’s operating income for the most recent accounting period was $2,710,000. The Dannica Division of Rooney controls $7,940,000 of the company’s assets and earned $1,250,000 of its operating income. Rooney’s desired ROI is 8 percent. Rooney has $1,130,000 of additional funds to invest. The manager of the Dannica division believes that his division could earn $146,000 on the additional funds. The highest investment opportunity to any of the company’s other divisions is 9 percent.

Required

1. Calculate the ROI of Dannica Division.

1. (1) Before investment opportunity.

2. (2) Only on the new investment opportunity.

3. (3) Dannica total ROI if investment opportunity is accepted.

3. Calculate the Dannica Division residual income from the new investment opportunity. If residual income is used as the sole performance measure, would the manager of the Dannica Division be likely to accept or reject the additional funding?

The unadjusted trial balance for Forever Fitness as December 31, 2017 is provided on the trial balance tab.

Information for adjustments is as follows:

As of December 31, 2017, employees had earned $1,300 of unpaid and unrecorded salaries. The next payday is January 4, at which time $1,625 of salaries will be paid.

The cost of supplies still available at December 31, 2017, is $1,700.

The notes payable requires an interest payment to be made every three months. The amount of unrecorded accrued interest at December 31, 2017, is $1,250. The next interest payment, at an amount of $1,500, is due on January 15, 2018.

Analysis of the unearned member fees account shows $2,400 remaining unearned at December 31, 2017.

In addition to the member fees included in the revenue account balance, the company has earned another $10,800 in unrecorded fees that will be collected on January 31, 2018. The company is also expected to collect $11,000 on that same day for new fees earned in January 2018.

Depreciation expense for the year is $21,200.

General Journal tab - Prepare any necessary adjusting and closing entries for the current fiscal year.

General Ledger tab - Each journal entry is posted automatically to the general ledger. Use the drop-down button to view the unadjusted, adjusted, or post-closing balances.

Trial Balance tab - You may view the unadjusted, adjusted, or post-closing trial balances by choosing from the dropdown box below. Your choice will determine the reported values on the financial statement tabs.

Income Statement tab - Use the drop-downs to select the accounts properly included on the income statement. The unadjusted, adjusted or post-closing balances will appear for each account, based on your selection.

Statement of Owner's Equity tab - The unadjusted, adjusted or post-closing balances will appear for each account, based on your selection.

Balance Sheet tab - Use the drop-downs to select the accounts properly included on the balance sheet. The unadjusted, adjusted or post-closing balances will appear for each account, based on your selection.

Post-Closing tab - Use the drop-downs to indicate whether each account is included on the post-closing trial balance.

No handwriting or photo (tax accounting)

a-Explain the different concepts of income from accounting, economics and taxation perspectives

b-What is the difference between deductions for and deductions from adjusted gross income AGI under US tax law? Give two examples of each deduction