The average GRE score at the University of Pennsylvania for the incoming class of 2016-2017 was 311. Assume that the standard deviation was 13.4. If you select a random sample of 40 students, what is the probability that the sample mean will be less than 313? Round your answer to three decimal places.
The average GRE score at the University of Pennsylvania for the incoming class of 2016-2017 was 311. Assume that the standard deviation was 13.4. If you select a random sample of 40 students, what is the standard error of the mean? Round your answer to three decimal places.
In: Statistics and Probability
1. In the summer of 2016, a large anthrax outbreak struck Siberia. Dozens of people were hospitalized, and a 12-year-old boy died. It was determined that it was caused by a heat wave in the Arctic which thawed a thick layer of the permafrost, warming a bunch of reindeer carcasses. The animals had died of anthrax 70 years previously. How could this have led to the 2016 outbreak?
2. If the reindeer had been infected with Mycobacterium tuberculosis instead do you believe that the same scenario might have occurred?
In: Biology
Question 3
Use the following data to prepare a common-size comparative income statement for Old Mill Corporation on December 31, 2016. Round percentages to one-tenth percent.
A step by step detail would be most helpful
|
2016 |
2015 |
|
|
Net sales |
$1,151,000 |
$1,350,000 |
|
Expenses: |
||
|
Cost of goods sold |
$980,000 |
$860,000 |
|
Selling and general expenses |
290,000 |
230,000 |
|
Interest expense |
59,000 |
59,000 |
|
Income tax expense |
71,000 |
53,000 |
|
Total expenses |
$1,400,000 |
$1,202,000 |
|
Net income |
$110,000 |
$148,000 |
In: Accounting
| Helmet Head Construction (HHC) is building a bridge for $12 million at a total cost of $10 million over the next three years. The company uses percentage of completion method to recognize revenue. Below is a summary of the contract: | |||
| 2016 | 2017 | 2018 | |
| Costs to Date | 3,600,000 | 7,450,000 | 10,450,000 |
| Estimated Costs to Complete | 6,400,000 | 3,000,000 | - |
| Progress Billings During the year | 4,000,000 | 4,000,000 | 4,000,000 |
| Cash collected during the year | 3,250,000 | 3,250,000 | 5,500,000 |
|
Record the necessary journal entries to account for the contract in 2016, 2017 and 2018 |
|||
In: Accounting
On 12-31-15, Fuji Inc.’s balance sheet reported Accounts Receivable of $100,000 before Allowance for Uncollectibles of $10,000. Credit sales during 2016 were $611,000 and collections from customers were $591,000. During 2016, Accounts Receivables of $45,000 were written off and $17,000 were recovered. On 12-31-16, Fuji Inc. estimated that $15,000 of its Accounts Receivables were uncollectible.
show work
What amount should Fuji Inc. report as Accounts Receivables on 12/31/16?
____________________________________________
In: Accounting
To add to his growing chain of grocery stores, on January 1, 2016, Danny Marks bought a grocery store of a small competitor for $520,000. An appraiser, hired to assess the acquired assets’ values, determined that the land, building, and equipment had market values of $200,000, $150,000, and $250,000, respectively.
Required:
Danny plans to depreciate the operating assets on a straight-line basis for 20 years. Determine the amount of depreciation expense for 2016 on these newly acquired assets. You can assume zero residual value for all assets.
In: Accounting
Koffman’s Warehouse purchased a forklift on January 1, 2016, for $5,000. The forklift is expected to last for five years and have a residual value of $500. Koffman’s uses the doubledeclining- balance method for depreciation.
Required: 1. Calculate the depreciation expense, accumulated depreciation, and book value for each year of the forklift’s life.
2. Prepare the journal entry to record depreciation expense for 2016.
3. Refer to Exhibit 8-2. What factors may have influenced Koffman to use the double-declining balance method?
In: Accounting
Kitty Company began operations in 2016 and maintains short-term
investments in trading securities. The year-end cost and fair
values for its portfolio of these investments follow.
| Portfolio of Trading Securities | Cost | Fair Value | ||||
| December 31, 2016 | $ | 73 | $ | 53 | ||
| December 31, 2017 | 60 | 82 | ||||
| December 31, 2018 | 78 | 105 | ||||
| December 31, 2019 | 92 | 73 | ||||
Prepare journal entries to record each December 31 year-end fair
value adjustment for these above securities.
In: Accounting
Yukon Productions Corp. purchased equipment on March 1, 2015, for $69,000. The company estimated the equipment would have a useful life of three years and produce 12,000 units, with a residual value of $7,400. During 2015, the equipment produced 4,900 units. On November 30, 2016, the machine was sold for $19,000 and had produced 5,700 units that year.
Record all the necessary entries for the years ended December 31, 2015 and 2016, using the following depreciation methods:
Straight-line, single-diminishing-balance, nnits-of-Production
In: Accounting
Mister Macchiato purchased a coffee drink machine on January? 1, 2016 for $ 38,000. Expected useful life is 10 years or 50,000 drinks. In 2016?, 10,000 drinks were? sold, and in 2017, 20,000 drinks were sold. Residual value is $3,000.
b. Assume that Mister Macchiato sold the equipment for $23,000 cash on July? 1, 2018. Assume that management has depreciated the equipment by using the? double-declining-balance method. Record Mister Macchiato?'s depreciation for 2018 and the sale of the equipment on July? 1, 2018.
In: Accounting