Consider the following description of an enterprise.

An auction Web site has items for sale that are provided by sellers. Each item has an opening price, a description, and ending time. Customers submit bids. The highest earliest bid submitted before the ending time is the winning bid and the item is sold to the bidder. Each seller must pay 5% of the winning bid. The auction company wants to be able to analyze the sales behavior of its customers and sellers and so must keep track of all bids and sales.

1. What entity classes are mentioned in the description?
2. List seven attributes that will be used in a data model for the auction company.
3. What relationship types exist between the entity classes of part a?
4. Give three example entities of each class listed in part a.

Buffalo Company sells tablet PCs combined with Internet service, which permits the tablet to connect to the Internet anywhere and set up a Wi-Fi hot spot. It offers two bundles with the following terms.

1. Buffalo Bundle A sells a tablet with 3 years of Internet service. The price for the tablet and a 3-year Internet connection service contract is $471. The standalone selling price of the tablet is $243 (the cost to Buffalo Company is $163). Buffalo Company sells the Internet access service independently for an upfront payment of $283. On January 2, 2017, Buffalo Company signed 100 contracts, receiving a total of $47,100 in cash.

2. Buffalo Bundle B includes the tablet and Internet service plus a service plan for the tablet PC (for any repairs or upgrades to the tablet or the Internet connections) during the 3-year contract period. That product bundle sells for $565. Buffalo Company provides the 3-year tablet service plan as a separate product with a standalone selling price of $159. Buffalo Company signed 180 contracts for Buffalo Bundle B on July 1, 2017, receiving a total of $101,700 in cash.

In response to competitive pressure for Internet access for Buffalo Bundle A, after 2 years of the 3-year contract, Buffalo Company offers a modified contract and extension incentive. The extended contract services are similar to those provided in the first 2 years of the contract. Signing the extension and paying $84 (which equals the standalone selling of the revised Internet service package) extends access for 2 more years of Internet connection. 40 Buffalo Bundle A customers sign up for this offer.

Prepare the journal entry when the contract is signed on January 2, 2019, for the 40 extended contracts. Assume the modification does not result in a separate performance obligation.

Prepare the journal entry on December 31, 2019, for the 40 extended contracts (the first year of the revised 3-year contract).

In each of the following examples, identify whether the person or institution will be penalized by inflation and, if so, why.

a. Mosie borrows $5,000 for her college expenses at an interest rate of 4 percent to be paid off over five years, during which time the inflation rate averages 6 percent.

b. Oscar invests $3,000 in securities that pay 5.3 percent anually for 10 years, and the inflation rate during that time averages 6.4 percent.

c. The Lilyton National Bank commits to $10 million in 15-year mortgages at an average mortgage rate of 4.5 percent. The inflation rate averages 6 percent over this 15-year period.

d. Barney bought a house in 2006 for $100,000 that he is now selling for $200,000. During this time the inflation rate has averaged 3 percent.

1.     When Netflix first started its business, what were the conditions that enabled this business work?

2.     What were the competitive advantages of Netflix over traditional video rental stores?

3.     In 2006 when Blockbuster introduced a hybrid mail and in-store rental model (Blockbuster Total Access), it seemed very obvious that Blockbuster wins a competition with Netflix. However, why do you think Blockbuster could not successfully take advantage of this opportunities and ended up with filing for bankruptcy?

4.     How can Netflix keep subscribers loyal and acquire new ones in the tougher competition with Amazon, HBO, Disney + and Hulu?

5.     Netflix growth in the US market seems to be maturing. How can Netflix increase demand for its services in the US?

The budgets of three companies yield the following information. fill in the blanks for each missing value. Carey Company: Net sales Revenue ________, Variable Costs 196,000, Fixed Costs 162,000, Operating Income (loss)__________, Units Sold 14,000, Contribution Margin per Unit__________, Contribution Margin Ratio 60%.

Doren Company: Met Sales Revenue 950,000, Variable Costs 760,000, Fixed Costs 100,000, Operating Income(loss)__________, Units Sold_________, Contribution Margin per Unit $76.00, Contribution Margin Ratio____________.

Everest Company: Net Sales Revenue___________, Variable Costs 186,300, Fixed Costs____________, Operating Income (loss) 107,800, Units Sold_____________, Contribution Margin per Unit $18.00, Contribution Margin Ratio 40%.

Rudolph Corporation is an oil well service company that measures its output by the number of wells
serviced. The company has provided the following fixed and variable cost estimates that it uses for
budgeting purposes.
Fixed Element per Month
Variable Element per Well Serviced
Revenue
$
4,500
Employee salaries and wages
$
47,400
$
1,200
Servicing materials
$
700
Other expenses
$
29,500
When the company prepared its planning budget at the beginning of July, it assumed that 34 wells
would have been serviced. However, 36 wells were actually serviced during July. The activity
variance for revenue for July would have been:
a. $10,800 U.
b. $9,000 F.
c. $9,000 U.
d. $10,800 F.

Are America's top chief executive officers (CEOs) really worth all that money? One way to answer this question is to look at row B, the annual company percentage increase in revenue, versus row A, the CEO's annual percentage salary increase in that same company. Suppose that a random sample of companies yielded the following data:

Do these data indicate that the population mean percentage increase in corporate revenue (row B) is different from the population mean percentage increase in CEO salary? Use a 5% level of significance. Find (or estimate) the P-value.

The following were selected from among the transactions completed by Babcock Company during November of the current year:

Journalize the transactions. Refer to the Chart of Accounts for exact wording of account titles.

Must Use

CHART OF ACCOUNTS
Babcock Company General Ledger

Inventory records for a company revealed the following:

Date Transaction Number of Units Unit Cost

Apr. 1 Beginning inventory 500 $2.40

Apr. 20 Purchase 400 $2.50

The company sold 700 units of inventory during the month. Cost of goods sold assuming FIFO would be:

If management can estimate the amount of loss that will occur due to litigation against the company, and the likelihood of the loss is reasonably possible, a contingent liability should be

On December 31, 2018, a company had balances in Accounts Receivable of $53,600 (debit) and in Allowance for Uncollectible Accounts of $1,325 (credit). During 2019, the company wrote off $1,465 in accounts receivable and determined that there should be an allowance for uncollectible accounts of $1,280 at December 31, 2019. Bad debt expense for 2019 would be:

On August 10th, a company billed a customer for services that were provided on August 5th. Which of the following should be recorded on August 10th?

An example of an adjusting entry would include:

if you could please post your work/reasoning, that'd be great!! thank you!