The ledger of Novak Corp. on March 31 of the current year includes the selected accounts below before adjusting entries have been prepared.

An analysis of the accounts shows the following.

The ledger of Oriole Company on March 31 of the current year includes the selected accounts below before adjusting entries have been prepared.

An analysis of the accounts shows the following.

Prepare the adjusting entries at March 31, assuming that adjusting entries are made quarterly.

Consider the following account balances in thousands for the Yankee Company for the year ended December 31, 2017:

Direct Materials Inventory, Beginning                  $          24,000

Direct Material Invenotry, Ending                                    26,000

Work in Process, Beginning                                           32,000

Work in Process, Ending                                               14,000

Finished Goods Inventory, Beginning                              25,000

Finished Goods Inventory, Ending                                  18,000

Direct Materials, Purchased                                           99,000

Direct Labor                                                                  30,000

Indirect Labor                                                                12,000

Plant insurance                                                              9,000

Other insurance                                                             8,000

Depreciation – plant                                                      11,000

Depreciation – other                                                      10,000

Repairs & Maintenance – plant                                       5,000

Marketing & Customer support                                       95,000

Plant rent                                                                      15,000

General & Admin                                                           36,000

            Required:

            Prepare a statement of cost of goods manufactured and an income statement for the year ended December 31, 2017, please note sales were $310,000,000

An auditor is recalculating depreciation on real property acquired during the year. Which of the following documents will provide the most relevant information regarding a property’s depreciable base?

Multiple Choice

• Deed

• Bank confirmation of mortgage loan

• Closing statement

• Flood insurance policy

An understatement of reported net income for the current year would result from

a. an overstatement of ending inventory in the previous period.

b. an overstatement of ending inventory in the current period.

c. failure to record accrued payroll liabilities.

d. failure to record expiration of prepaid insurance.

The real risk-free rate of interest is 3%. Inflation is expected to be 2% this year and 3% during the next 2 years. Assume that the maturity risk premium is zero. What is the yield on 2-year Treasury securities?

(If financial calculator is used show those computations and show ALL work)

You are looking to purchase a 25 year life insurance policy for $150,000. The policy will pay annually at the end of the year. The current market interest rate is 2.5%. What should the annual payment per year be?

show all your works

B.Y. is a 78 year-old woman that was brought to the ER of her local hospital when she developed symptoms of a stroke. Her neighbor had checked on her and found that she couldn’t speak or move her right arm. The neighbor knows B.Y. quite well and told the ambulance crew that B.Y. had stopped taking her Toprol XL a few weeks ago because it made her feel so tired. She’d stopped taking her daily aspirin because it upset her stomach. The Toprol XL was prescribed for atrial fibrillation and the aspirin to prevent clot formation from atrial fibrillation.

In the hospital, B.Y. was determined to have had a stroke and was admitted to the neuro floor for further treatment. She was started on subcutaneous heparin and an intravenous beta blocker. Because she was unable to swallow, a nasogastric tube was placed and she was started on 2 tablespoons of an antacid TID through the tube. All further medications were given by the parenteral route, including a BID medication to prevent ulcers and a QID pain reliever. She also had an order for an acetaminophen rectal suppository, 500 mg., if fever of >101 degrees developed. On her third hospital day, she developed an arrhythmia and her physician ordered lidocaine to be given intravenously immediately.

8. What conclusions about the ulcer prevention medications half-life could you reach, based of the dose frequency? 9. What kind of a drug classification is “beta blocker,” a therapeutic or pharmacological classification? 10. Was a topical medication contraindicated with this patient? 11. Which of her orders were “standing orders?” 12. Were there any STAT orders for this patient? Are/Is such an order(s) also single order(s)? 13. Which orders were routine orders? 14. Did she have any prn orders? If so, which ones were prn? 15. How many milliliters per dose of the antacid did she get through her nasogastric tube?

A retail corporation wants to know how often a customer returns items in a year. The company’s data analytics team analyzed customers’ shopping behavior and came up with three categories of customers. Customers in category 1 do not return items often. Customers in category 2 return some items, and customers in category 3 heavily return items. Suppose that the data analytics team modeled the number of returns in each category of customers according to a Poisson process with rates λ1 = 1 per year, λ2 = 4 per year, and λ3 = 10 per year for categories 1, 2, and 3, respectively. Category 1 customers constitute 30% of the customer base of this retail corporation, whereas Category 2 and 3 customers constitute 60% and 10% of the customer base, respectively.

(a) What is probability that the company gets 10 returned items from a customer during 2019 and 2020 (this time period includes both years 2019 and 2020)? Do NOT calculate a number. Just write an expression for this probability.

(b) Compute the mean and variance of the number of returned items for a customer during 2019 and 2020.

(c) Now consider a category 2 customer. Compute the mean and variance of the number of returned items for this customer (=a category 2 customer) during 2019 and 2020.

(d) Given that a customer returns 10 items in his or her first 2 years, what is the probability this is a category 2 customer? Do NOT calculate a number. Just write an expression for this probability.