*** PLEASE ANSWER ALL QUESTIONS IN PARAGRAPH FORMAT.

The following case study provides information for a hotel chain. They have recently conducted a customer satisfaction survey. Given these research results and the other information in the case, what advice would you give them? This is a good exercise in utilizing the results of market research.

ACTIVITY/TASK

The Quick-Stop Hotel Chain

Quick-Stop Hotels is a small hotel chain located along on the north coast of New South Wales. This chain consists of five different hotel complexes located several hours drive apart along the main coastal highway between Sydney and Brisbane.

Their prime target market is the family segment. This is because families often choose to drive from Sydney to Brisbane (or Brisbane to Sydney) and back again for their holidays. As this trip is around a 12-hour drive, many travelers choose to stop overnight in order break up their journey. Therefore, Quick-Stop has deliberately chosen popular stopover towns for their hotels.

In line with this location strategy, they promote themselves with the slogan, “the “perfect place for a break”.

Their individual hotels vary a little in quality, but all have either a 3 or a 4 star rating. This means that they are either medium (3 star) or good (4 star) quality in terms of facilities and general standard of accommodation. On average, they each have around 80 rooms and a fairly broad range of facilities (that is, a heated swimming pool, room service, restaurant and bar, a kid’s club during school holidays, a small gym, and some have tennis courts and a couple of stores).

In terms of promotion, they are heavy outdoor (billboard) advertisers on the coastal highway. They also advertise in various holiday and travel directories, and on the government tourism website.

As you can see from the table below, they vary pricing throughout the year. Pricing is generally used as a tool to increase demand in the low season and to increase revenue in the high season. This is necessary as they have highly seasonal demand, being frequently being booked out over the Christmas holiday period, and with very high demand in other school holiday periods.

The table also shows the results of a customer satisfaction survey for Quick-Stop Hotels. On average, 80% of customers indicated that they were satisfied with their stay and 10% were delighted with their stay. However, 10% indicated they were dissatisfied. These figures vary by season, whether the customer was a first-time customer, and by the quality of the individual hotel. Additionally, the table includes information on average room rates (per night) and occupancy levels. (Note: The occupancy level is the percentage of rooms occupied per night.)

QUESTIONS

1. Review the customer satisfaction information. Does it make sense? Why/why not?
2. Given these research results and the other information in the case, what advice would you give this firm.
3. Which of the above metrics did you find helpful? Which did you ignore?
4. What other information would have been helpful?

Your objective is to write a well-documented simple program using classes, a loop, and nested ifs to simulate an ATM using JAVA.

1. Create an ATM class with class variables name, pin, and balance, a constructor with parameters to assign values to the three instance variables, methods to get the name, pin, and balance, and methods to handle validated deposits and withdrawals ( deposit and withdrawal amounts cannot be negative, and withdrawal amount must not be greater than the existing balance).

2. In the ATMTest class, read the names, 4 digit pin numbers, and account balances of two customers into two instances of the ATM class. Display the two customers names, pins, and balances formatted.

3. Now that you have all your customers’ information start your ATM to accomplish the following within an infinite loop,

a). Display a welcome screen with your bank’s information and prompt for and read the customer entered pin.

b). Use a nested if to match the entered pin with one of the two customers’ pins. If the entered pin number matches that of one of the customers, then:

i. Welcome the customer by name and display the balance.

ii. Display option to 1. DEPOSIT, 2. WITHDRAW or 3. EXIT.

iii. If option 1 is selected, then use the instance deposit method to prompt for deposit amount, read, and add a valid deposit amount to the customer’s balance

iv. If option 2 is selected, then use the instance withdrawal method to subtract a valid withdrawal amount from the customers balance

v. If option 3 is selected, go to step a.

4. Should the entered pin number not match either of the two customers, notify the customer that the entered pin is not valid and go to step a.

5. Selection of the EXIT option must display welcome/login screen (step a).

6. Should an incorrect option be entered, notify the user and display the original welcome/login screen (step a).

Please lists the IDE you used for the project.

PRACTICE PROBLEM

Utilizing the following information, prepare a multi-step income statement (with basic EPS) for Waterway Company, a manufacturing company, for 2017. The company’s income tax rate is 30%. There were 500,000 shares of common stock outstanding all year.

Dividends declared on preferred stock                                                                           84,100

Dividends declared on common stock                                                                           262,300

Gain on sale of investments                                                                                          111,100

Discontinued operations: loss on disposal of the wholesale division (gross)                     445,600

Discontinued operations: loss on operations of the wholesale division (gross)                   96,080

Sales revenue                                                                                                            26,211,300

Cost of goods sold                                                                                                      16,244,400

Interest revenue                                                                                                            73,900

Selling expenses                                                                                                          2,439,200

Administrative expenses                                                                                              1,450,300

Loss due to flood damage                                                                                             392,600

Rent revenue                                                                                                               520,000

Notes: If a company has an overall loss on discontinued operations, earnings per share for discontinued operations should be represented as a loss (i.e., negative). Preferred dividends are also not subtracted from the numerator when calculating earnings per share on a loss (since there is no income to distribute). Earnings per share should be rounded to the nearest cent.

In this problem, assume that the distribution of differences is approximately normal. Note: For degrees of freedom d.f. not in the Student's t table, use the closest d.f. that is smaller. In some situations, this choice of d.f. may increase the P-value by a small amount and therefore produce a slightly more "conservative" answer.

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 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. Solve the problem using the critical region method of testing. (Let d = B − A. Round your answers to three decimal places.)

Interpret your conclusion in the context of the application.

Fail to reject the null hypothesis, there is insufficient evidence to claim a difference in population mean percentage increases for corporate revenue and CEO salary.Reject the null hypothesis, there is insufficient evidence to claim a difference in population mean percentage increases for corporate revenue and CEO salary.    Reject the null hypothesis, there is sufficient evidence to claim a difference in population mean percentage increases for corporate revenue and CEO salary.Fail to reject the null hypothesis, there is sufficient evidence to claim a difference in population mean percentage increases for corporate revenue and CEO salary.

elect “true” or “false” for each of the following statements concerning the data in case Exhibits 1, 2, 5, 6 & 7. Use the key financial ratios in Chapter 4 to assist you in performing calculations to determine whether the statements are true or false.

a. From 2005 through 2017, revenues grew from $682.2 million to $11.7 billion—a compound average growth rate (CAGR) of 26.7%.

  (Click to select)   True   False

b. From 2005 through 2017, Netflix’s net income has increased from $42.0 million to $558.9 million, a compound average growth rate of 24.1%.

  (Click to select)   True   False

c. Netflix’s Operating expense for Technology and development has decreased from 2010 – 2017.

  (Click to select)   True   False

d. Netflix’s current ratio was 2.57 in 2005, 1.64 in 2010, 1.54 in 2015, 1.25 in 2016, and 1.40 in 2017. The company’s short-term liquidity has been adequate.

  (Click to select)   True   False

e. Marketing costs as a percentage of revenues has decreased over the years from 2000 to 2017.

  (Click to select)   True   False

f. Netflix’s domestic streaming business is a weak performer—all the performance metrics have remained constant across the past three years.

  (Click to select)   True   False

g. Netflix’s international streaming segment will soon overtake the domestic streaming segment in terms of revenues, but it will take a number of years for the international segment to match the profitability of the domestic streaming segment.

  (Click to select)   True   False

h. Netflix’s domestic DVD segment is in rapid decline, but it is still attractively profitable—there’s should be no rush to shut it down until its contribution profit dwindles down close to zero.

  (Click to select)   True   False

Prepare journal entries：

Jan. 1         Sold 5,000 shares of capital stock for a total of $500,000 cash.

Jan. 2         Paid the premium of $12,000 on a 24-month insurance policy on all assets.

Jan. 3         Purchased land and a building for a total of $350,000 cash. The land is valued at $50,000, while the building is valued at $300,000 and is expected to have a useful life of 30 years.

Jan. 10          Purchased a computer network system for $36,000 cash. The expected useful life is 6 years.

Jan. 15          Paid $2,400 cash for a phone system that should have a 3-year useful life.

Jan. 16          Paid cash to acquire equipment and furniture for business purposes at a cost of $12,000. The expected useful life is 4 years.

Jan. 19          Purchased office supplies for $1,250 cash. (Use the asset account “Office Supplies” for such purchases.)

Jan. 24          Paid cash of $10,000 for binders, manuals, and workbooks for use in Sheldon's client programs. Sheldon's policy is to initially record these materials as an asset (Program Supplies) and to then expense the materials used for a particular training program when the program is completed.

Jan. 30          Paid wages of $1,800 and salaries of $3,600 for work performed during January.

Feb. 14         Completed the first client program for a fee of $9,500. The customer paid $2,500 of the fee that day, with the remainder billed on account. Program supplies used on the project had originally cost Sheldon $1,500.

Feb. 15         Paid wages of $2,400 in cash.

Feb. 19         Paid utilities for the month of January of $1,050 in cash.

Feb. 23         Purchased on account 30 specialized manuals as program supplies for use in computer training for a total of $1,800.

Feb. 28         Borrowed $45,000 from the bank on a 2-year note. The interest rate on the note is 6% per year (or 0.5% per month).

Mar. 1       Paid wages of $3,600 and salaries of $6,000.

Mar. 1       Completed on-site computer training for two customers: JKL Products, Inc., and Watson Company. Billed JKL $11,000 on account. The fee for Watson was $9,200, half of which Watson paid in cash with the remainder on account. Program supplies used for the two customers totaled $4,600.

Mar. 4       Purchased additional program supplies on account for a total of $3,600.

Mar. 13        Collected $16,600 on account from credit customers.

Mar. 15        Completed first all-day computer workshop for walk-in customers. Sales totaled $4,250, all in cash. Program supplies used for the workshop originally cost Sheldon $1,850.

Mar. 16        Billed Coastal Corporation $7,500 for on-site training completed on March 16. Program supplies for the training originally cost Sheldon $2,500.

Mar. 16        Paid wages of $3,700.

Mar. 17        Purchased office supplies of $750 on account.

Mar. 21        Paid $3,200 to suppliers for materials previously purchased on account.

Mar. 23        Paid utilities for the month of February of $1,800 in cash.

Mar. 26        Received a $2,000 cash advance from Watson Company for additional computer training to begin April 1, 2018.

Mar. 29        Collected $6,250 on account from credit customers.

Mar. 31        Purchased $3,600 of program supplies for cash.

Additional Data Determined at March 31, 2018:

Unpaid and unrecorded wages and salaries totaled $2,700 and $8,500, respectively.

Service revenue unrecorded and unbilled at March 31 amounted to $9,300. Program supplies associated with these services originally cost Sheldon $2,800.

Office supplies on hand at March 31 totaled $450.

Sheldon uses straight-line depreciation on all depreciable assets and assumes the assets will have no value at the end of their estimated useful lives. A full month's depreciation is taken for the month of purchase, regardless of which day of the month the purchase is made. For example, depreciation expense for the three months ended March 31, 2018, on the phone system is $200 (i.e., $2,400/3 years x 3/12 of a year). Land is not considered depreciable. You may use a single account (Depreciation Expense) to record all of the depreciation expense for the depreciable assets. Also, you may use a single account (Accumulated Depreciation) to record the effect of depreciation on total assets.

Sheldon must record accrued interest for one month on the $45,000 bank loan.

Sheldon estimates utilities used during March amounted to $1,800, although the bill has not yet been received.

Remember insurance that has expired.

Prepare journal entries：

Jan. 1         Sold 5,000 shares of capital stock for a total of $500,000 cash.

Jan. 2         Paid the premium of $12,000 on a 24-month insurance policy on all assets.

Jan. 3         Purchased land and a building for a total of $350,000 cash. The land is valued at $50,000, while the building is valued at $300,000 and is expected to have a useful life of 30 years.

Jan. 10          Purchased a computer network system for $36,000 cash. The expected useful life is 6 years.

Jan. 15          Paid $2,400 cash for a phone system that should have a 3-year useful life.

Jan. 16          Paid cash to acquire equipment and furniture for business purposes at a cost of $12,000. The expected useful life is 4 years.

Jan. 19          Purchased office supplies for $1,250 cash. (Use the asset account “Office Supplies” for such purchases.)

Jan. 24          Paid cash of $10,000 for binders, manuals, and workbooks for use in Sheldon's client programs. Sheldon's policy is to initially record these materials as an asset (Program Supplies) and to then expense the materials used for a particular training program when the program is completed.

Jan. 30          Paid wages of $1,800 and salaries of $3,600 for work performed during January.

Feb. 14         Completed the first client program for a fee of $9,500. The customer paid $2,500 of the fee that day, with the remainder billed on account. Program supplies used on the project had originally cost Sheldon $1,500.

Feb. 15         Paid wages of $2,400 in cash.

Feb. 19         Paid utilities for the month of January of $1,050 in cash.

Feb. 23         Purchased on account 30 specialized manuals as program supplies for use in computer training for a total of $1,800.

Feb. 28         Borrowed $45,000 from the bank on a 2-year note. The interest rate on the note is 6% per year (or 0.5% per month).

Mar. 1       Paid wages of $3,600 and salaries of $6,000.

Mar. 1       Completed on-site computer training for two customers: JKL Products, Inc., and Watson Company. Billed JKL $11,000 on account. The fee for Watson was $9,200, half of which Watson paid in cash with the remainder on account. Program supplies used for the two customers totaled $4,600.

Mar. 4       Purchased additional program supplies on account for a total of $3,600.

Mar. 13        Collected $16,600 on account from credit customers.

Mar. 15        Completed first all-day computer workshop for walk-in customers. Sales totaled $4,250, all in cash. Program supplies used for the workshop originally cost Sheldon $1,850.

Mar. 16        Billed Coastal Corporation $7,500 for on-site training completed on March 16. Program supplies for the training originally cost Sheldon $2,500.

Mar. 16        Paid wages of $3,700.

Mar. 17        Purchased office supplies of $750 on account.

Mar. 21        Paid $3,200 to suppliers for materials previously purchased on account.

Mar. 23        Paid utilities for the month of February of $1,800 in cash.

Mar. 26        Received a $2,000 cash advance from Watson Company for additional computer training to begin April 1, 2018.

Mar. 29        Collected $6,250 on account from credit customers.

Mar. 31        Purchased $3,600 of program supplies for cash.

Additional Data Determined at March 31, 2018:

Unpaid and unrecorded wages and salaries totaled $2,700 and $8,500, respectively.

Service revenue unrecorded and unbilled at March 31 amounted to $9,300. Program supplies associated with these services originally cost Sheldon $2,800.

Office supplies on hand at March 31 totaled $450.

Sheldon uses straight-line depreciation on all depreciable assets and assumes the assets will have no value at the end of their estimated useful lives. A full month's depreciation is taken for the month of purchase, regardless of which day of the month the purchase is made. For example, depreciation expense for the three months ended March 31, 2018, on the phone system is $200 (i.e., $2,400/3 years x 3/12 of a year). Land is not considered depreciable. You may use a single account (Depreciation Expense) to record all of the depreciation expense for the depreciable assets. Also, you may use a single account (Accumulated Depreciation) to record the effect of depreciation on total assets.

Sheldon must record accrued interest for one month on the $45,000 bank loan.

Sheldon estimates utilities used during March amounted to $1,800, although the bill has not yet been received.

Remember insurance that has expired.

Chapter 6 Problem A consumer finds only three products, X, Y, and Z, are for sale. The amount of utility which their consumption will yield is shown in the table below. Assume that the prices of X, Y, and Z are $10, $2, and $8, respectively, and that the consumer has an income of $74 to spend. Product X (Price $10) Product Y (Price $2) Product Z (Price $8) Quantity Utility Marginal Utility per $ Quantity Utility Marginal Utility per $ Quantity Utility Marginal Utility per $ 1 42 1 14 1 32 2 82 2 26 2 60 3 118 3 36 3 84 4 148 4 44 4 100 5 170 5 50 5 110 6 182 6 54 6 116 7 182 7 56.4 7 120 (a) Complete the table by computing the marginal utility per dollar for successive units of X, Y, and Z to one or two decimal places. Remember the marginal utility per dollar would be calculated by first getting the marginal utility which is the change in utility as quantity increases and then dividing it by the price. When doing Quantity 1 you are going from 0 units to 1 unit. The utility for 0 units would be $0. (b) How many units of X, Y, and Z will the consumer buy when maximizing utility and spending all income? Show this result using the utility maximization formula. (Meaning they need to spend all of their income of $74) (c) Why would the consumer not be maximizing utility by purchasing 2 units of X, 4 units of Y, and 1 unit of Z?

143. A company's old machine that cost $59,000 and had accumulated depreciation of $47,100 was traded in on a new machine having an estimated 20-year life with an invoice price of $70,900. The company also paid $60,100 cash, along with its old machine to acquire the new machine. If this transaction has commercial substance, the new machine should be recorded at:

143B. A company issued 7.0%, 5-year bonds with a par value of $160,000. The market rate when the bonds were issued was 8.0%. The company received $153,511.28 cash for the bonds. Using the effective interest method, the amount of interest expense for the second semiannual interest period is:

143C.Farmer and Taylor formed a partnership with capital contributions of $280,000 and $330,000, respectively. Their partnership agreement calls for Farmer to receive a $86,000 per year salary. The remaining income or loss is to be divided equally. If the net income for the current year is $231,000, then Farmer and Taylor's respective shares are:

143D. Riverboat Adventures pays $460,000 plus $9,000 in closing costs to buy out a competitor. The real estate consists of land appraised at $81,600, a building appraised at $172,800, and paddleboats appraised at $225,600. Compute the cost that should be allocated to the building.

A Company is evaluating the idea of invest $180,000 in a machine and $20,000 in others initial costs. In the first year the company will have $100,000 revenue. In the second and third year the revenues are going to increase 10% per year. Calculate discount payback period. (Discount rate 20%)