Justin Company is in the process of preparing its budget for next year. Cost of goods sold has been estimated at 60 percent of sales. Merchandise purchases are to be made during the month preceding the month of the sales. Button pays 60 percent in the month of purchase and 40 percent in the month following. Wages are estimated at 20 percent of sales and are paid during the month of sale. Other operating costs amounting to 10 percent of sales are to be paid in the month following the sale.

Month                          Sales Revenue

December                     $170,000

January                         250,000

February                       120,000

March                          200,000

April                            160,000

Prepare a schedule of cash disbursements for January, February, and March

TM is a 38 year old male with ulcerative colitis admitted to the medical unit at the hospital for acute exacerbation of the disease. This is his second admission in the last six months. TM says he is frustrated with this disease. In the last week TM has had 15-20 diarrhea episodes a day. He needs to hurry to the bathroom often throughout the day and night. He reports sleeping only an hour at a time at night and trouble staying awake at work. He also reports nausea and vomiting in the last three days along with increasing abdominal pain. His bowel movement at time of admission appears loose, bloody and has a large amount of mucous. His vital signs include: BP 98/64, HR 96, RR 22, T 100.8˚F (38.2˚C), O2Sat 98% on RA. He is 5’8” and weighs 125 lbs.

1. Which assessment values are indicative of ulcerative colitis?

The physician orders the following labs: CBC w/differential, Chem panel, stool analysis.

2. What abnormalities do you expect and why?

The nurse assigns the nursing diagnosis of Deficient Fluid Volume related to diarrhea as evidenced by reported diarrhea, hypotension and elevated pulse. 3. What assessments will the nurse perform to monitor TM’s fluid status?

Following are several transactions involving a university. In the current fiscal year, the university was notified by the federal government that next fiscal year it would receive a $500,000 grant for wetlands research. The university received a $500,000 endowment. For the fiscal year, the university recorded $2,500,000 in tuition and fees revenue. Cash refunds of $325,000 were given. The university provided $12,600 in tuition waivers for students with outstanding academic performance. During the year, the university constructed a new street, to allow for the expansion of its student housing efforts. The cost of the street was $1,980,000. The biology department spent $25,000 on wetlands research. At year-end, $1,670 of estimated uncollectible tuition and fees was recorded. Required Prepare journal entries to record the foregoing transactions, assuming the university is a private institution. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.)Following are several transactions involving a university. In the current fiscal year, the university was notified by the federal government that next fiscal year it would receive a $500,000 grant for wetlands research. The university received a $500,000 endowment. For the fiscal year, the university recorded $2,500,000 in tuition and fees revenue. Cash refunds of $325,000 were given. The university provided $12,600 in tuition waivers for students with outstanding academic performance. During the year, the university constructed a new street, to allow for the expansion of its student housing efforts. The cost of the street was $1,980,000. The biology department spent $25,000 on wetlands research. At year-end, $1,670 of estimated uncollectible tuition and fees was recorded. Required Prepare journal entries to record the foregoing transactions, assuming the university is a private institution. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.)

a. In the current fiscal year, the university was notified by the federal government that next fiscal year it would receive a $500,000 grant for wetlands research.

Note: Enter debits before credits.

b.The university received a $500,000 endowment.

Note: Enter debits before credits.

c. Record the receipt of tuition and fees revenue.

Note: Enter debits before credits.

2. Financial Globalization

   Assume that a country produces an output Q of 50 every year, and that the world interest rate is 10%. The country currently plans a consumption level C equal to 50 every year, with G =I = 0. But there is then an unexpected war in year 0, which requires government spending of G=22 units in year 0. The war is expected to last just one year. If the country desires to smooth consumption, how much should it borrow in the global financial market in period 0 to finance the war? What will the level of consumption be in year 0 (and all future periods)?

In the current tax year, IRS, the internal revenue service of the United States, estimates that five persons of the many high network individual tax returns would be fraudulent. That is, they will contain errors that are purposely made to cheat the government. Although these errors are often well concealed, let us suppose that a thorough IRS audit will uncover them.

Given this information, if a random sample of 100 such tax returns are audited, what is the probability that exactly five fraudulent returns will be uncovered? Here, the number of trials is n=100. And p=0.05 is the probability of a tax return will be fraudulent. Answer the following questions.

1. What is the probability that five fraudulent returns will be uncovered based on 100 IRS audits ? (n=100, p=0.05)
2. If a random sample of 250 high net worth tax returns are audited, what is the probability that the IRS will uncover at least 15 fraudulent errors? (n=250 and P= 0.05)
3. If a random sample of 250 high net worth tax returns are audited, what is the probability that the IRS would uncover at least 15 fraudulent returns but at most 20 fraudulent returns? (n=250 and P= 0.05)
4. What is the probability that out of the 250 randomly selected high net worth tax returns no fraudulent return is uncovered? (n=250 and P= 0.05)
5. Aside from the ethics of tax fraud and based solely on your answers to questions 1-4, do you think it would be advisable to cheat on your tax return? Do you need more information to decide? What type of information?

Markus Company’s common stock sold for $2.00 per share at the end of this year. The company paid a common stock dividend of $0.42 per share this year. It also provided the following data excerpts from this year’s financial statements:     

Find:

accounts receivable turnover

average collection period

inventory turnover

average sale period

operating period

total asset turnover

times interest earned ratio

We are evaluating a project that costs $604,000, has an 8 year life, and has no salvage value. Assume that depreciation is straight-line to zero of the life of the project. Sales are projected at 55,000 units per year. Price per unit is $36, variable cost per unit is $17, and fixed cost are 685,000 per year. The tax rate is 21 percent and we require a return of 15 percent on this project.

a. Calculate the accounting break-even point.

b. Calculate the base-case cash flow and NPV. What is the sensitivity of NPV to changes in the sales figure? Explain what your answer tells you about a 500-unit decrease in projected sales.

c. What is the sensitivity of OCF to changes in the variable costs figure? Explain what your answer tells you about a $1 decrease in estimated variable cost.

In the previous problem, suppose the projections given for price, quantity, variable costs, fixed cost are all accurate to within plus or minus 10 percent. calculate the best-case and worst-case NPV figures.

A company that uses a FIFO inventory system and began operations in Year 1 has the following information. Year 1 Year 2 Sales units 8,000 10,000 Selling price $45 $46 Production units 12,000 8,000 Unit direct material cost $2.00 $2.00 Unit direct labor cost $1.00 $1.00 Unit commission cost $.50 $.50 Annual Fixed Overhead $180,000 $180,000 Annual Fixed S,G,&A $140,000 $150,000 1. What are the inventoriable cost per unit in years 1 and 2? Absorption Costing Variable Costing 2. What would the income statements look like? Absorption Costing Variable Costing Numerically reconcile the difference in Operating Profit (if any)

I know this question has already been asked...…. But I cannot follow where the numbers come from. I am assuming the issue is the change in inventory? I need to know how year two is calculated with more detail for both methods

Also note for my exams I have to use paper and pencil ….. I have no excel access

A survey of several 10 to 13 year olds recorded the following amounts spent on a trip to the mall:

$15.64, $12.62, $26.06

Construct the 95% confidence interval for the average amount spent by 10 to 13  year olds on a trip to the mall. Assume the population is approximately normal.

Step 1 of 4:

Calculate the sample mean for the given sample data. Round your answer to two decimal places.

Step 2 of 4:

Calculate the sample standard deviation for the given sample data. Round your answer to two decimal places.

Step 3 of 4:

Find the critical value that should be used in constructing the confidence interval. Round your answer to three decimal places.

Step 4 of 4:

Construct the 95% confidence interval. Round your answer to two decimal places.