A POLYGRAPH (LIE DETECTOR) IS AN INSTRUMENT USED TO DETERMINE IF AN INDIVIDUAL IS TELLING THE TRUTH. THESE TESTS ARE CONSIDERED TO BE 95 % RELIABLE. IN OTHER WORDS, IF AN INDIVIDUAL LIES, THERE IS A .95 PROBABILITY THAT THE TEST WILL DETECT A LIE. LET THERE ALSO BE A .025 PROBABILITY THAT THE TEST ERRONEOUSLY DETECTS A LIE EVEN WHEN THE INDIVIDUAL IS ACTUALLY TELLING THE TRUTH. CONSIDER THE NULL HYPOTHESIS, "THE INDIVIDUAL IS TELLING THE TRUTH, THE ANSWER THE FOLLOWING QUESTIONS
WHAT IS THE POBABLITY OF A TYPE I ERROR?
WHAT IS THE PROBABILITY OF A TYPE II ERROR
In: Statistics and Probability
In: Statistics and Probability
5. Which of the following is NOT considered when the government determines whether someone is unemployed?
a. Whether the individual is 16 or older
b. The wage the individual is paid
c. Whether the individual has looked for work
d. Whether the individual is currently employed
6. Suppose the civilian non-institutional population equals 150,000; there are 70,000 employed persons and 10,000 unemployed persons. How many people are not in the labor force?
a. 10,000
b. 60,000
c. 70,000
d. 80,000
In: Economics
GENETICS QUESTION:
Indv 1 (WT): TACATAGGCATAGGGGTA
Indv 2: TACATAGGCATATGGGGTA
Indv 3: TACATAGGCATCGGGGTA
Indv 4: TACATAGGCATAGGGATA
In: Biology
Which of the following statements is false?
| A. |
Municipal bond interest income is excluded from taxation |
|
| B. |
One may exclude up to $102,100 (2017) in foreign earned income. |
|
| C. |
Trade of business expenses are deducted above the line |
|
| D. |
Student loan interest may be deducted above the line |
|
| E. |
All of the above are correct statements |
In: Accounting
In: Advanced Math
In 2019, Tariq Hass created a trust for the benefit of his 2 children, and named the eldest child as the trustee. The trust instrument provided that the income earned from the trust should be distributed annually and an additional $1,000 should be distributed to each beneficiary. What classification best describes this trust?
A charitable
B complex
C grantor
D simple
In: Accounting
Andy and Currie met in Tax class and were married. They have five children: Miranda age 6, Savannah age 10, Wenbo age 12, Rachel age 15, and Luke age 20. Luke has his own apartment but he works in the family business, he earned $25,000 last year. Andy works for a CPA firm. In 2020 he earned $77,000, $12,000 of federal income tax was withheld, and $3,000 of state income tax was withheld. In addition, they earned $300 of interest on their joint savings account, they received dividends of $1,200 on stock that they own (all the dividends are qualified), and they sold 100 shares of stock for $20 a share (they paid $10 a share three years ago).
Currie operates a welding shop in a facility that she rents. The business motto is “Still not as fun as Tax Class”. She operates as a sole proprietor, she has one part-time employee, plus Luke who does most of the welding (the rest of the children have to clean up the shop each evening before they get their supper).
Income and expenses of the welding business in 2020 were:
Gross revenues $248,000
Employee salaries 54,000
Employee payroll taxes 5,400
Building Insurance 16,000
Welding supplies 55,000
Rent 18,900
Currie paid estimated State income tax of $4,300 during the year, and estimated federal income tax of $15,000.
In addition the family also had the following expenses:
Family medical and dental expenses $19,000
Real estate taxes 3,400
Home mortgage interest 9,000 (their mortgage is $300,000)
Credit card finance charges 2,600
Sales tax 4,200
Cash donations to their church 4,000
Assume that there is no Alternative Minimum Tax (AMT) for them.
What is their taxable income? taxes before tax credits? total tax liability? refund?
In: Accounting
Requirements:
1. Journalize and Post the adjusting entries using the T-accounts
2. Prepare an adjusted trial balance as of December 31, 2018
November 3: Purchased Canoes for $4,800 on account.
December 2: Purchased Canoes signing a notes payable for $7,200.
At December 31, the business gathers the following information for the adjusting entries:
a. Office supplies on hand, $165
b. Rent of one month has been used (1000.00).
c. Determine the depreciation on the building using straight-line depreciation. Assume the useful life of the building is five years and the residual value is $5,000.
d. $400 of unearned revenue has now been earned.
e. The employee who has been working the rental booth has earned $1,250 in wages that will be paid January 15, 2013.
f. Canyon Canoes has earned $1,850 of canoe rental revenue that has not been recorded or received.
g. Determine the depreciation on the canoes purchased on November 3 using straight-line depreciation. Assume the useful life of the canoes is 4 years and the residual value is $0.
h. Determine the depreciation on the canoes purchased on December 2 using straight-line depreciation. Assume the useful life of the canoes is 4 years and the residual value is $0.
i. Interest expense accrued on the notes payable, $50.
Unadjusted Trial Balance
| Account | Debit | Credit |
| Cash | $12,125 | |
| Accounts Recievable | $5,750 | |
| Office Supplies | $1,250 | |
| Prepaid Rent | $3,000 | |
| Land | $85,000 | |
| Building | $35,000 | |
| Canoe | $12,000 | |
| Accounts Payable | $3,050 | |
| Utilities Payable | $325 | |
| Telephone Payable | $295 | |
| Unearned Revenue | $750 | |
| Notes Payable | $7,200 | |
| Wilson, Capital | $136,000 | |
| Wilson, Withdrawl | $450 | |
| Canoe Rental Revenue | $12,400 | |
| Rent Expense | $1,200 | |
| Utilities Expense | $475 | |
| Wages Expense | $3,300 | |
| Telephone Expense | $470 | |
| TOTALS: | $160,020 | $160,020 |
In: Accounting
In: Finance