The table shows data on asthma-related visits. Is there evidence that these visits vary by quarter? Can you detect a trend? A powerful test would be to run a multiple regression in Excel. If the function is already loaded, you will find it in Data> Data Analysis> regression. If not get help in adding the Analysis Tool Pak. To test for quarterly differences, create a variable called Q1 that equals 1 if the data are for the first quarter and 0 otherwise, a variable called Q2 that equals 1 if the date are for the second quarter and 0 otherwise and a variable called Q4 that equals 1 if the date are for the forth quarter and 0 other wise. ( Because you will accept the default, which is to have a constant term in your regression equation, do not include an indicator variable for quarter 3). Also create a variable called Trend that increases by 1 each quarter.

1. a) What is the most important element in Purchasing Management? (5%)

2. b) Within such element, what is the most important factor to contribute to its success and why? (5%)

3. c) What are the three main objectives of purchase management in a company? (6%) Among the three objectives, which one do you think is the most important, and why? (4%)

74-year-old widower, excellent pension, $500,000, long-term care insurance, no debt, and three children. In no more than 200 words:

1. Develop an investment portfolio that meets their needs, specifying the categories of securities or other assets types.

Determine the below ratios for 2011 and 2012 and compare the Hospitals financial performance year to year based on those ratios. Make sure you explain what each ratio measures

Current Ratio

Average Payment Period

Operating Margin

Total Margin

Return on Net Assets

Cash Flow to Debt

FINANCIAL STATEMENTS:

Cash Flows from Operating Activities:                         2012                    2011

Cash received from patient services                             $3783                 $2590

Cash paid to employees and suppliers                         (3684)                (2541)

Interest paid                                                                           (16)                       (14)

Interest earned                                                                        13                            6

Net Cash from Operations                                                     $96                      $41


Cash Flows from Investing Activities:

Purchase of Property and Equipment                                 ($25)                     ($19)

Securities Purchase                                                                ($35)                      ($15)

Net Cash from Investing Activities                                      ($60)                     ($34)

Cash Flows from Financing Activities:                              
Contributions                                                                        10                            6
Repayment of long-term debt                                           (13)                          (0)
Net cash from financing activities                                   ($3)                          ($6)
Net increase (decrease) in cash and equivalents         ($33)                        ($13)


Cash and equivalents, beginning of year                        $41                           $28


Cash and equivalents, end of year                                  $74                           $41

Revenues                                                                           2012                            2011

Patient Service Revenue                                                $4042                          $2687

Provision for bad debts                                                    $46                              $21

Net Patient Service Revenue                                       $3996                           $2666

Other operating revenue                                              $27                                 $32

Total Revenues                                                              $4023                            $2698


Expenses:

Salaries and benefits                                                   $2714                               $1835

Supplies and drugs                                                           1042                                675

Insurance                                                                           90                                   83

Depreciation                                                                      21                                   15

Interest                                                                                16                                  19

Total expenses                                                                  $3883                           $2627


Operating Income                                                           $140                                $71

Non-operating Income:
                                               
Contributions                                                                     $10                                $22

Investment income                                                              13                                   6

Total Non-operating income                                         $23___                          28____

Net income (excess of revenues
over expenses)                                                                 $163                                  $99

ASSETS                                                                          2012                                   2011

Current Assets:

Cash and cash equivalents                                         $74                                      $41

Shor-term investments                                               $147                                     $137

Accounts receivable, net                                               727                                      476

Inventories                                                                        27__                                  22___

Total Current Assets                                                        $975__                               $676__


Investments                                                                        125___                              $100____


Property and Equipment:

Medical and office equipment                                           $56                                      $54

Vehicles                                                                                   70__                                    47___

Total                                                                                        $126                                    $101

Less: Accumulated Depreciation                                        (45)                                      (24)

Net Property Equipment                                                     $81                                       $77

Total Assets                                                                         $1181                                     $853

LIABILITIES AND EQUITY

Current Liabilities:                                 

Notes payable                                                                   $13                                           $13

Accounts Payable                                                              40                                              21

Accrued expenses                                                             496                                            337

Total Current Liabilities                                                  $541                                           $371



Long term debt                                                                 $154__                                    $167_

Total Liabilities                                                                   $703                                       $538                                                              


Equity (Net Assets)                                                           $478                                        $315


Total Liabilities and equity                                              $1181                                        $853  

Adjustment data:On November 1, 2017, Splish Brothers Inc. had the following account balances. The company uses the perpetual inventory method.

During November, the following summary transactions were completed.

On November 1, 2017, Splish Brothers Inc. had the following account balances. The company uses the perpetual inventory method.

10. Exercise 3.10

The Reliable Aircraft Company manufactures small, pleasure-use aircraft. Based on past experience, sales volume appears to be affected by changes in the price of the planes and by the state of the economy as measured by consumers' disposable personal income. The following data pertaining to Reliable's aircraft sales, selling prices, and consumers' personal income were collected:

The arc price elasticity of demand between 2006 and 2007 is:

0.38

0.22

0

–0.22

The arc income elasticity of demand between 2007 and 2008 is:

0

2.33

5.36

–2.33

Assume that these estimates are expected to remain stable during 2009. Forecast 2009 sales for Reliable assuming that its aircraft prices remain constant at 2007 levels and that disposable personal income will increase by 7%. Also assume that the arc income elasticity you just computed is the best available estimate of income elasticity.

Aircraft Sales 2009 Forecast:

Forecast 2009 sales for Reliable given that its aircraft prices will increase by 6% from 2008 levels and that disposable personal income will increase by 7%. Assume that the price and income effects are independent and additive and that the arc income and price elasticities you just computed are the best available estimates of these elasticities to be used in making the forecast.

Aircraft Sales 2009 Forecast:

it is July 2006 and you expect to receive ZAR 1 000 000 in October 2006 from a customer. While you believe that the $ will weaken in the next 3 months, you do not want to take chances, and therefore wish to hedge against the risk of a strengthening $. You gather the following information about the foreign currency and futures markets.

spot exchange rate                                                       $1.7640 per ZAR

Forecast spot rate in October                                        $1.7400 per ZAR

Contract size                                                                   ZAR 62500

Quoted spot buying price for October futures                $1.7310 par ZAR

Quoted spot selling price for October futures                 $1.7420 per ZAR

a) calculate the number of futures contracts you will buy or sell.

b) show how you can hedge against currency risk using the futures market hedge, assuming that in October 2006, you can close or cancel a short position at a price of $1.6890 per ZAR and a long position at a price of $1.6600 per ZAR and the forecast spot rate for October turned out to be the actual spot rate in October.

Exercise 20-23 (Algo) Error correction; three errors [LO20-6]

Below are three independent and unrelated errors.

1. On December 31, 2020, Wolfe-Bache Corporation failed to accrue salaries expense of $2,300. In January 2021, when it paid employees for the December 27–January 2 workweek, Wolfe-Bache made the following entry:
   

2. On the last day of 2020, Midwest Importers received a $100,000 prepayment from a tenant for 2021 rent of a building. Midwest recorded the receipt as rent revenue. The error was discovered midway through 2021.
3. At the end of 2020, Dinkins-Lowery Corporation failed to accrue interest of $9,000 on a note receivable. At the beginning of 2021, when the company received the cash, it was recorded as interest revenue.

Required:
For each error:

1. What would be the effect of each error on the income statement and the balance sheet in the 2020 financial statements?

error A

error B

error C

2. Prepare any journal entries each company should record in 2021 to correct the errors.

Analyzing Segment Revenue Disclosures from Quarterly Data
Beyond Meat disclosed the following in its Form 10‑Q for the first quarter ended March 30, 2019. The company had its initial public offering (IPO) in May 2019.
The Company’s net revenues by platform and channel are included in the tables below:

Two distributors each accounted for approximately 21% of the Company’s gross revenues in the three months ended March 30, 2019; and three distributors accounted for approximately 34%, 14% and 11%, respectively, of the Company’s gross revenues in the three months ended March 31, 2018.

a. Calculate the average discount given to customers for the two quarters presented.
Note: Round percentage (your final answer) to one decimal place (for example, enter 6.7% for 6.6555%).

Average discount for quarter ended March 30, 2019: Answer %

Average discount for quarter ended March 31, 2018: Answer %

b. What do we observe about the level of the discounts across the two quarters?
The level of discounts has (increased/decreased/remained) from 2018 to 2019.

c. Beyond Meat’s revenue grew tremendously between March 2018 and March 2019. Determine growth rates for each of the platforms and channels disclosed (Fresh, Frozen, Retail, and Restaurant).
Note: Round percentage (your final answer) to the nearest whole percentage point.