Define multiplication on ℤ? by ? ⊙ ? = ? where ? is the remainder when the product ?? is divided by ?.
(a) Show that this operation is commutative.
(b) Show that this operation is associative.
(c) Show that there is an identity element for this operation.
(d) Show that for ? = 5, the set of non-zero elements forms a group under multiplication.
(e) Show that for ? = 6, the set of non-zero elements does not form under multiplication.
In: Advanced Math
Referring to Problem 2 above, suppose the HTML file references ten very small objects on the same server. Neglecting transmission time, how much time elapses with a. Non-persistent HTTP with no parallel TCP connections? b. Non-persistent HTTP with the browser configured for 3 parallel connections? c. Persistent HTTP? (Assume that pipelining is used.)
In: Computer Science
This week we are studying monetary policy. There are two major opinions on what the appropriate monetary policy should be: activists argue that monetary policy should be deliberately used to smooth out the business cycle while non-activists argue against discretionary monetary policy. Discuss some of the reasons why the activists favor intervention and the non-activists do not.
In: Economics
In: Finance
modern inspection technologies are either optical or non-optical, search for 5 different modern inspection technologies and summarize their: (a) working principle(s); (b) applications in the industry; (c) effectiveness in finding the defects; (d) speed of inspection in high-volume manufacturing settings, and (e) ability to perform non-destructive testing on the samples .for example Radiation techniques or Ultrasonic techniques.
In: Operations Management
modern inspection technologies are either optical or non-optical, search for 5 different modern inspection technologies and summarize their: (a) working principle(s); (b) applications in the industry; (c) effectiveness in finding the defects; (d) speed of inspection in high-volume manufacturing settings, and (e) ability to perform non-destructive testing on the samples .for example Radiation techniques or Ultrasonic techniques.
In: Operations Management
The birthday problem considers the probability that two people in a group of a given size have the same birth date. We will assume a 365 day year (no leap year birthdays).
Code set-up
Dobrow 2.28 provides useful R code for simulating the birthday problem. Imagine we want to obtain an empirical estimate of the probability that two people in a class of a given size will have the same birth date. The code
trial = sample(1:365, numstudents, replace=TRUE)
simulates birthdays from a group of numstudents students. So you can assign numstudents or just replace numstudents with the number of students in the class of interest.
If we store the list of birthdays in the variable trial, the code
2 %in% table(trial)
will create a frequency table of birthdays and then determine if there is a match (2 birthdays the same). We can use this code in an if-else statement to record whether a class has at least one pair of students with the same birth date. We then can embed the code within a for-loop to repeat the experiment, store successes in a vector, and then take the average number of successes (a birthday match) across the repeated tasks.
The problems
Recall that the true probability is 1-prod(seq(343,365))/(365)^23 which is approximately 50%.
# [Place code here]
Place your answers to the three items below here:
The birthday problem considers the probability that two people in a group of a given size have the same birth date. We will assume a 365 day year (no leap year birthdays).
Code set-up
Dobrow 2.28 provides useful R code for simulating the birthday problem. Imagine we want to obtain an empirical estimate of the probability that two people in a class of a given size will have the same birth date. The code
trial = sample(1:365, numstudents, replace=TRUE)
simulates birthdays from a group of numstudents students. So you can assign numstudents or just replace numstudents with the number of students in the class of interest.
If we store the list of birthdays in the variable trial, the code
2 %in% table(trial)
will create a frequency table of birthdays and then determine if there is a match (2 birthdays the same). We can use this code in an if-else statement to record whether a class has at least one pair of students with the same birth date. We then can embed the code within a for-loop to repeat the experiment, store successes in a vector, and then take the average number of successes (a birthday match) across the repeated tasks.
The problems
Recall that the true probability is 1-prod(seq(343,365))/(365)^23 which is approximately 50%.
# [Place code here]
Place your answers to the three items below here:
In: Statistics and Probability
You are the financial accountant for Superstore Ltd, and are in the process of preparing its financial statements for the year ended 30 June 2018. Whilst preparing the financial statements, you become aware of the following situations:
On 1 July 2017, the directors made a decision, using information obtained over the last couple of years, to revise the useful life of an item of manufacturing equipment. The equipment was acquired on 1 July 2015 for $800,000, and has been depreciated on a straight-line basis, based on an estimated useful life of 10 years and residual value of nil. Superstore Ltd uses the cost model for manufacturing equipment. The directors estimate that as at 1 July 2017, the equipment has a remaining useful life of 6 years and a residual value of nil. No depreciation has been recorded as yet for the year ended 30 June 2018 as the directors were unsure how to account for the change in the 2018 financial statements, and unsure whether the 2016 and 2017 financial statements will need to be revised as a result of the change.
In June 2018, the accounts payable officer discovered that an invoice for repairs to equipment, with an amount due of $20,000, incurred in June 2017, had not been paid or provided for in the 2017 financial statements. The invoice was paid on 12 July 2018. The repairs are deductible for tax purposes. The accountant responsible for preparing the company’s income tax returns will amend the 2017 tax return, and the company will receive a tax refund of $6,000 as a result (30% x $20,000). No journal entries have been done as yet in the accounting records of Superstore Ltd, as the directors are unsure how to account for this situation, and what period adjustments need to be made in.
Superstore Ltd holds shares in a listed public company, ABC Ltd, which are valued in the draft financial statements on 30 June 2018 at their market value on that date - $600,000. A major fall in the stock market occurred on 10 July 2018, and the value of Superstore’s shares in ABC Ltd declined to $250,000.
On 21 July 2018, you discovered a cheque dated 20 April 2018 of $32,000 authorised by the company’s previous accountant, Max. The payment was for the purchase of a swimming pool at Max’s house. The payment had been recorded in the accounting system as an advertising expense. You advise the directors of this fraudulent activity, and they will investigate. Assume that each event is material. Required:
i) State the appropriate accounting treatment for each situation. Provide explanations and references to relevant paragraphs in the accounting standards to support your answers. Where adjustments to Superstore Ltd’s financial statements are required, explain which financial statements need to be adjusted (ie. 2016, 2017, 2018 or 2019).
ii) Prepare any note disclosures and adjusting journal entries that are needed in the 2018 financial statements for each situation.
In: Finance
Problem One:
On March 1, 2019, Mark Company acquired real estate on which it planned to construct a small office building. The company paid $75,000 in cash. An old warehouse on the property was razed at a cost of $6,400; the salvaged materials were sold for $1,200. Additional expenditures before construction began included $800 attorney’s fee for work concerning the land purchase, $3,800 real estate broker’s fee, $5,800 architect’s fee, and $11,000 to put in driveways and a parking lot.
Instructions
Problem Two:
Younger Bus Lines uses the units-of-activity method in depreciating its buses. One bus was purchased on January 1, 2018, at a cost of $188,000. Over its 4-year useful life, the bus is expected to be driven 100,000 miles. Salvage value is expected to be $8,000.
Instructions
Year Depreciation Expense Accumulated Depreciation Book Value
2018
2019
2020
2021
Problem Three:
Kinder Company purchased a new machine on October 1, 2018, at a cost of $145,000. The company estimated that the machine will have a salvage value of $25,000.The machine is expected to be used for 20,000 working hours during its 5-year life.
Instructions
Compute the depreciation expense under the following methods for the year indicated.
|
Date |
Account |
DR |
CR |
Problem Four:
On January 1, 2019, Jaime Inc. invested $900,000 in a mine estimated to have 1,200,000 tons of ore of uniform grade. During the 2019, 100,000 tons of ore were mined and sold.
Instructions
|
Date |
Account |
DR |
CR |
Problem Five:
The following are selected 2019 transactions of Penaflok Corporation.
Jan. 1 Purchased a small company and recorded goodwill of $200,000. Its useful life is indefinite.
May 1 Purchased for $120,000 a patent with an estimated useful life of 5 years and a legal life of 20 years.
Instructions
Prepare necessary adjusting entries at December 31 to record amortization required by the events above.
|
Date |
Account |
DR |
CR |
In: Accounting
Described below are six independent and unrelated situations involving accounting changes. Each change occurs during 2018 before any adjusting entries or closing entries were prepared. Assume the tax rate for each company is 40% in all years. Any tax effects should be adjusted through the deferred tax liability account. Fleming Home Products introduced a new line of commercial awnings in 2017 that carry a one-year warranty against manufacturer’s defects. Based on industry experience, warranty costs were expected to approximate 4% of sales. Sales of the awnings in 2017 were $2,800,000. Accordingly, warranty expense and a warranty liability of $112,000 were recorded in 2017. In late 2018, the company’s claims experience was evaluated and it was determined that claims were far fewer than expected: 3% of sales rather than 4%. Sales of the awnings in 2018 were $3,300,000, and warranty expenditures in 2018 totaled $75,075. On December 30, 2014, Rival Industries acquired its office building at a cost of $860,000. It was depreciated on a straight-line basis assuming a useful life of 40 years and no salvage value. However, plans were finalized in 2018 to relocate the company headquarters at the end of 2022. The vacated office building will have a salvage value at that time of $630,000. Hobbs-Barto Merchandising, Inc., changed inventory cost methods to LIFO from FIFO at the end of 2018 for both financial statement and income tax purposes. Under FIFO, the inventory at January 1, 2018, is $620,000. At the beginning of 2015, the Hoffman Group purchased office equipment at a cost of $253,000. Its useful life was estimated to be 10 years with no salvage value. The equipment was depreciated by the sum-of-the-years’-digits method. On January 1, 2018, the company changed to the straight-line method. In November 2016, the State of Minnesota filed suit against Huggins Manufacturing Company, seeking penalties for violations of clean air laws. When the financial statements were issued in 2017, Huggins had not reached a settlement with state authorities, but legal counsel advised Huggins that it was probable the company would have to pay $130,000 in penalties. Accordingly, the following entry was recorded: Loss—litigation 130,000 Liability—litigation 130,000 Late in 2018, a settlement was reached with state authorities to pay a total of $273,000 in penalties. At the beginning of 2018, Jantzen Specialties, which uses the sum-of-the-years’-digits method, changed to the straight-line method for newly acquired buildings and equipment. The change increased current year net earnings by $368,000. Required: For each situation: 1. Identify the type of change. 2. Prepare any journal entry necessary as a direct result of the change as well as any adjusting entry for 2018 related to the situation described.
In: Accounting