An author argues that more American-born baseball players have birth dates in the months immediately following July 31 because that was the age cutoff date for nonschool baseball leagues. The table below lists months of births for a sample of American-born baseball players and foreign-born baseball players. Using a 0.01 significance level, is there sufficient evidence to warrant rejection of the claim that months of births of baseball players are independent of whether they are born in America? Do the data appear to support the author's claim? Jan. Feb. March April May June July Aug. Sept. Oct. Nov. Dec. Born in America 384 326 367 347 335 310 310 502 420 432 396 374 Foreign Born 100 81 84 82 95 84 59 91 69 101 102 83 Identify the null and alternative hypotheses for this test. A. Upper H 0: Months of births of baseball players are independent of where they are born. Upper H 1: Months of births of baseball players are dependent of where they are born. B. Upper H 0: The frequency of births is dependent of the month. Upper H 1: The frequency of births is independent of the month. C. Upper H 0: The frequency of births is independent of the month. Upper H 1: The frequency of births is dependent of the month. D. Upper H 0: Months of births of baseball players are dependent of where they are born. Upper H 1: Months of births of baseball players are independent of where they are born. Identify the test statistic. nothing (Round to three decimal places as needed.) Identify the P-value. nothing (Round to three decimal places as needed.) State the final conclusion that addresses the original claim. ▼ Reject Do not reject Upper H 0. There is ▼ sufficient not sufficient evidence to warrant rejection of the claim that months of births of baseball players are independent of whether they are born in America.
In: Statistics and Probability
The cash account for American Medical Co. at April 30 indicated a balance of $97,456. The bank statement indicated a balance of $127,960 on April 30. Comparing the bank statement and the accompanying canceled checks and memos with the records revealed the following reconciling items:
| A. | Checks outstanding totaled $30,050. |
| B. | A deposit of $19,720, representing receipts of April 30, had been made too late to appear on the bank statement. |
| C. | The bank collected $22,149 on a $20,700 note, including interest of $1,449. |
| D. | A check for $1,450 returned with the statement had been incorrectly recorded by American Medical Co. as $145. The check was for the payment of an obligation to Targhee Supply Co. for a purchase on account. |
| E. | A check drawn for $290 had been erroneously charged by the bank as $920. |
| F. | Bank service charges for April amounted to $40. |
| Instructions | |
| 1. | Prepare a bank reconciliation. Refer to the Amount Descriptions list provided for the exact wording of the answer choices for text entries. “Deduct:” or “Add:” will automatically appear if it is required. |
| 2. | Journalize the necessary entries. The accounts have not been closed. Refer to the Chart of Accounts for exact wording of account titles. |
| 3. |
If a balance sheet is prepared for American Medical Co. on April 30, what amount should be reported as cash? |
| CHART OF ACCOUNTS | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| American Medical Co. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| General Ledger | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Amount Descriptions |
|
| Bank error in charging check as $290 instead of $920 | |
| Bank error in charging check as $920 instead of $290 | |
| Bank service charges | |
| Check for $920 returned because of insufficient funds | |
| Deposit of April 30, not recorded by bank | |
| Error in recording check | |
| Error in recording April 30 deposit | |
| Outstanding checks | |
| Note and interest collected by bank |
1. Prepare a bank reconciliation. Refer to the Amount Descriptions list provided for the exact wording of the answer choices for text entries. “Deduct:” or “Add:” will automatically appear if it is required. Whenever there is more than one adjusting item in the bank portion of the reconciliation or the general ledger portion of the bank reconciliation, enter in the order presented in the instructions.
|
AMERICAN MEDICAL CO. |
|
Bank Reconciliation |
|
April 30 |
|
1 |
Cash balance according to bank statement |
||
|
2 |
|||
|
3 |
|||
|
4 |
|||
|
5 |
|||
|
6 |
Adjusted balance |
||
|
7 |
|||
|
8 |
Cash balance according to company’s records |
||
|
9 |
|||
|
10 |
|||
|
11 |
|||
|
12 |
|||
|
13 |
Adjusted balance |
2. Journalize the necessary entries. The accounts have not been closed. Refer to the Chart of Accounts for exact wording of account titles.
PAGE 1
JOURNAL
ACCOUNTING EQUATION
| DATE | DESCRIPTION | POST. REF. | DEBIT | CREDIT | ASSETS | LIABILITIES | EQUITY | |
|---|---|---|---|---|---|---|---|---|
|
1 |
||||||||
|
2 |
||||||||
|
3 |
||||||||
|
4 |
||||||||
|
5 |
||||||||
|
6 |
. If a balance sheet is prepared for American Medical Co. on April 30, what amount should be reported as cash?
In: Accounting
Question 4
Fresplanade Co. had the following historical collection pattern
for its credit sales:
75% collected in the month of sale
12% collected in the first month after month of sale
9% collected in the second month after month of sale
3% collected in the third month after month of sale
1% uncollectible
The sales on open account (credit sales) have been budgeted for the
last six months of the year as shown below:
| July | $ | 90,000 | |
| August | $ | 102,000 | |
| September | $ | 114,000 | |
| October | $ | 126,000 | |
| November | $ | 138,000 | |
| December | $ | 120,000 | |
The estimated total cash collections by Fresplanade Co. during November from collection of accounts receivable is:
Multiple Choice
$131,940.
$120,060.
$177,300.
$154,800.
$121,320.
Fresplanade Co. had the following historical collection pattern
for its credit sales:
75% collected in the month of sale
12% collected in the first month after month of sale
8% collected in the second month after month of sale
4% collected in the third month after month of sale
1% uncollectible
The sales on open account (credit sales) have been budgeted for the
last six months of the year as shown below:
| July | $ | 87,000 | |
| August | $ | 99,000 | |
| September | $ | 111,000 | |
| October | $ | 123,000 | |
| November | $ | 135,000 | |
| December | $ | 117,000 | |
The estimated cash collection by Fresplanade Co. during August from July and August credit sales is:
Multiple Choice
$98,850.
$94,380.
$102,090.
$65,250.
$84,690.
In: Accounting
| Charity # | Charity | Total Expenses ($) | Administrative Expenses (%) | Fundraising Expenses (%) | Program Expenses (%) |
| 1 | American Red Cross | 3352089148 | 3.8 | 3.9 | 92.0 |
| 2 | World Vision | 1208111251 | 4.0 | 7.5 | 88.3 |
| 3 | Smithsonian Institution | 1081275619 | 23.5 | 2.5 | 73.8 |
| 4 | Food For the Poor | 1049984888 | 0.6 | 2.6 | 96.8 |
| 5 | American Cancer Society | 1007342150 | 6.0 | 22.3 | 71.4 |
| 6 | Volunteers of America | 931512538 | 8.5 | 1.8 | 89.2 |
| 7 | Dana-Farber Cancer Institute | 876227147 | 13.1 | 1.5 | 85.3 |
| 8 | AmeriCares | 858665385 | 0.3 | 0.8 | 98.9 |
| 9 | ALSAC - St. Jude Children's Research Hospital | 830079269 | 9.6 | 17.0 | 73.5 |
| 10 | City of Hope | 734387170 | 13.4 | 2.9 | 83.0 |
1. Develop an estimated regression equation that could be used to predict the program expenses (%) given fundraising expenses (%)
Program Expenses % (pred) = ? + ? Fundraising Expenses (%) up to 2 decimals
In: Statistics and Probability
In: Economics
You are studying to enter professions that require high moral
and ethical behavior. Your commitment to such standards should
begin in this class and continue through every class in your
graduate degree program. This week's discussion questions:
1) Why ethics and professional conduct are so important in the
accounting professions, and
2) Why behaving ethically in your graduate studies is critical to
your goal to graduate and work in the accounting industry.
Some major professional accounting
associations/organizations include:
American Accounting Association
American Institute of CPA's
American Society of Women Accountants
American Taxation Association
Association of Certified Fraud Examiners
Association of Government Accountants
Chartered Global Management Accountants
Information Systems Audit and Control Association
Institute of Internal Auditors
Institute of Management Accountants
Institute of Industrial Accountants
Insurance Accounting and Systems Association
International Association of Accounting Education
National Association of Black Accountants
National Society of Accountants
Professional Association of Small Business Accountants
Professional Accounting Society of America
Your state" Society of CPA's
Questions to spark class discussion:
Randomly select one of the professional accounting
organizations from the list below.
Summarize and discuss the professional code of ethics of the organization you selected.
Identify a few of the key codes and or responsibilities of ethical and professional conduct in this organization.
Discuss their importance and how you, as students can model these behaviors.
In: Accounting
Salt Co. and Pepper Co. are in the same business and sell the same merchandise but have different inventory systems: Salt’s is perpetual and Pepper’s is periodic. Both companies sell their products at a price of $10 each, and their inventory activity for March of 2020 is presented below.
Salt
|
Date |
Description |
# of Units |
Unit Price |
Total Cost |
|
02/29/20 |
Beginning Inventory |
50 |
$1 |
$50 |
|
03/08/20 |
Purchase 1 |
50 |
$2 |
$100 |
|
03/15/20 |
Sale |
90 |
||
|
03/22/20 |
Purchase 2 |
50 |
$3 |
$150 |
|
03/27/20 |
Purchase 3 |
50 |
$4 |
$200 |
|
03/31/20 |
Ending Inventory |
110 |
Pepper
|
Date |
Description |
# of Units |
Unit Price |
Total Cost |
|
02/29/20 |
Beginning Inventory |
50 |
$1 |
$50 |
|
03/08/20 |
Purchase 1 |
50 |
$2 |
$100 |
|
03/22/20 |
Purchase 2 |
50 |
$3 |
$150 |
|
03/27/20 |
Purchase 3 |
50 |
$4 |
$200 |
|
03/31/20 |
Ending Inventory |
110 |
Required—Calculate each of the following under the assumption indicated:
1. Salt’s ending inventory at 03/31/20 assuming it uses FIFO.
2. Salt’s October cost of goods sold assuming it uses FIFO.
3. Salt’s October gross profit assuming it uses FIFO.
4. Salt’s ending inventory at 03/31/20 assuming it uses LIFO.
5. Salt’s October cost of goods sold assuming it uses LIFO.
6. Salt’s October gross profit assuming it uses LIFO.
7. Pepper’s ending inventory at 03/31/20 assuming it uses FIFO.
8. Pepper’s October cost of goods sold assuming it uses FIFO.
9. Pepper’s October gross profit assuming it uses FIFO.
10. Pepper’s ending inventory at 03/31/20 assuming it uses LIFO.
11. Pepper’s October cost of goods sold assuming it uses LIFO.
12. Pepper’s October gross profit assuming it uses LIFO.
In: Accounting
In the late 1970s, several countries in Latin America,
notably Mexico, Brazil, and Argentina
had accumulated large external debt burdens. A significant share of
this debt was denominated in U.S. dollars. The United States
pursued contractionary monetary policy from
1979 to 1982, raising dollar interest rates. How would this affect
the value of the Latin American currencies relative to the U.S.
dollar? How would this affect their external debt in local currency
terms? If these countries had wanted to prevent a change
in their external
debt, what would have been the appropriate policy response, and
what would be the drawbacks?
In: Accounting
Dear staff:
This is Yu.zhou. May anybody who is good at the Culture in Healthcare class help me with the question below. Thank you, sincerely.
What was the cause of role loss many adult Hmong faced when they came to the U.S.? How does this loss affect their adjustment to America and how to the families adapt? Do you think this scenario is true of most immigrant and/or refugee populations? What are the American health system challenges to being culturally-informed and culturally-responsive to the needs of immigrant and/or refugee populations, particularly related to treating common conditions like post traumatic stress disorder (PTSD)?
In: Nursing
1. The argument based on absolute advantage that free trade between countries is always beneficial for both participating countries is flawed. Explain.
2. Mention two important external shocks that potentially triggered Latin American sovereign debt crisis and the lost decade. Provide some context.
3. What is a common view (seen in class) of contemporary economists on ISI strategies? In particular, what are their views on the initial implementation and on the permanence of the ISI policies?
4. What was the main incentive for multinationals to operate in Latin America during the period of ISI policies? How is the country size related to such an incentive?
In: Economics