A professional football team is preparing its budget for the next year. One component of the budget is the revenue that they can expect from ticket sales. The home venue, Dylan Stadium, has five different seating zones with different prices. Key information is given below. The demands are all assumed to be normally distributed. Seating Zone Seats Available Ticket Price Mean Demand Standard Deviation First Level Sideline 15,000 $1000.00 14,500 750 Second Level 5,000 $90.00 4,750 500 First Level End Zone 10,000 $80.00 9,000 1,250 Third Level Sideline 21,000 $70.00 17,000 2,500 Third Level End Zone 14,000 $60.00 8,000 3,000 Determine the distribution of total revenue under these assumptions using 250 trials. Summarize the statistical results. The question is from following book and from Chapter 12 question 17 Textbook: James Evans, Business Analytics, 3nd edition, 2019, Pearson Education, Pearson. ISBN: 13:978-0-13-523167-8

Cash Disbursement
Timber Company is in the process of preparing its budget for next year. Cost of goods sold has been estimated at 70 percent of sales. Lumber purchases and payments are to be made during the month preceding the month of sale. Wages are estimated at 15 percent of sales and are paid during the month of sale. Other operating costs amounting to 10 percent of sales are to be paid in the month following the month of sale. Additionally, a monthly lease payment of $24,000 is paid for computer services. Sales revenue is forecast as follows

Required
Prepare a schedule of cash disbursements for April, May, and June.
Do not use a negative sign with your answers.

QUESTIONS:

(c) Prepare an adjusted trial balance on May 31.

Based on:

The Moto Hotel opened for business on May 1, 2017. Here is its trial balance before adjustment on May 31.

Other data:

Problem 4-1 (Part Level Submission)

The following information is related to Marigold Company for 2017.

Marigold Company decided to discontinue its entire wholesale operations (considered a discontinued operation) and to retain its manufacturing operations. On September 15, Marigold sold the wholesale operations to Rogers Company. During 2017, there were 529,100 shares of common stock outstanding all year.

Prepare a multiple-step income statement. (Round earnings per share to 2 decimal places, e.g. 1.49.)

The following balances were taken from the books of Shamrock Corp. on December 31, 2017.

Assume the total effective tax rate on all items is 34%.

Prepare a multiple-step income statement; 100,000 shares of common stock were outstanding during the year. (Round earnings per share to 2 decimal places, e.g. 1.48.)

A state highway goes through a small town where the posted speed limit drops down to 40MPH, but which out of town drivers don’t observe very carefully. Based on historical data, it is known that passenger car speeds going through the city are normally distributed with a mean of 47 mph and a standard deviation of 4MPH. Truck speeds are found to be normally distributed with a mean of 45MPH and a standard deviation of 6MPH. The town installed a speed camera and wants to set a threshold for triggering the camera to issue citations. If the camera is triggered, the driver is mailed a flat $50 ticket for cars and a flat $75 for trucks. On average 100 cars and 25 trucks go through the city in a day.

1. If the town sets the camera triggering speed at 50MPH, how much revenue will it make in a month (assume a month has 30 days)
2. The town wants to set the triggering speed at a value such that the fastest 10% of truck drivers get ticketed. At what value should they set the trigger?
3. At this trigger value, what percentage of cars are ticketed and what is the monthly revenue for the city?

The following account balances were taken from ABC Company’s unadjusted trial
balance at December 31, 2020:

Accounts Payable ............  $56,000
Accounts Receivable .........  $42,000
Cash ........................  $11,000
Common Stock ................  $63,000
Cost of Goods Sold ..........  $52,000
Income Tax Expense ..........  $12,000
Insurance Expense ...........  $21,000
Inventory ...................  $70,000
Land ........................  $68,000
Mortgage Payable ............  $49,000
Patent ......................  $31,000
Prepaid Insurance ...........  $17,000
Rental Revenue ..............  $46,000
Retained Earnings ...........  $72,000 (at January 1, 2020)
Sales Revenue ...............  $95,000
Supplies ....................  $19,000
Wage Expense ................  $38,000

ABC Company has not yet recorded adjusting entries related to the following
two items:

(1)  $11,000 of supplies were used up during 2020.

(2)  ABC Company has provided services to a customer totaling $14,000 as of
     December 31, 2020. However, the customer has not yet paid ABC Company.

Calculate the total assets reported in ABC Company's December 31, 2020 balance
sheet after the appropriate adjusting entries have been recorded and posted.

You are the manager of a cardiology department with 10 general cardiologists. The department performs approximately 6000 EKG’s annually. They currently have 4 EKG machines; 2 are 10 years old and fully depreciated and the other 2 are 6 years old and will be fully depreciated in one year. None are integrated with their EHR so the staff needs to scan the results into the EHR and the billing has to be done manually. As manager, you believe that purchasing new units that are integrated with the EHR will be more efficient. The new units are $30,000 each. There are IT costs for the integration and a maintenance contract as well as supplies that need to be purchased. You must present to the CFO for approval. Prepare a short proposal describing how the new units will impact finances (i.e. increase/decrease revenue and expenses). Identify what information do you need to have to establish revenue and cost. How many units do you recommend and why and what financial tools you would use to determine the impact on finances as well as what resources might be used to obtain information to support the finances.

You are an auditor at a public accounting firm. You are conducting an audit for the financial year ending December 31, 2019. Your client has go public. This client is a property development company. Your client builds property in the form of apartment units, housing / real estate and also property investment products in the form of lots ready to build. In addition, this client also has a project development cooperation with its customers. The client is bound by a contract signed by both parties before a notary for the construction of a project with this customer. The project has not been completed 100%, however, the client says that the project has been completed 60% and the client acknowledges 60% of the development as revenue in the 2019 financial year.

a. In your opinion, as an auditor, what account should the client classify the apartment and housing / real estate complex be? Explain your answer!

b.   What is the audit procedure that you will apply to ensure the recognition of revenue that is 60% of the project!

c. What audit evidence will you examine and what are the related assertions? Explain your answer!

a> assuming the Walmart had no significant permanent differences between book income and taxable income, did income before taxes for financial reporting exceed or fall short of taxable income for the year ending January 31, 2016(hereafter, fiscal 2015)? explain

b>assuming all current taxes are paid in cash, will the adjustment to net income for deferred taxes to compute cash flow from operations tin the statement of cash flows result in an addition or subtraction for fiscal 2015?

c>walmart reports deferred revenue for sales of gift certificate and for Sam's club membership fees. These amounts are taxed when collected, but not recognized in financial reporting income until tendered at a store. why does the tax effect of differed revenue appear as deferred tax asset ?

d> walmart recognizes a valuation allowance on its deferred tax assets to reflect net operating losses of consolidated foreign subsidiaries. The valuation allowance decreased over the last year. what effect does this have on net income in the most recent year( fiscal 2015)?