1) Suppose there is a hypothesis arguing that the population mean of the daily inventory holding cost is 1.5 times the value of average daily inventory holding cost during the selected period (November and December 2019) Pre-COVID-19 (X_1 ). List the full analytical steps to test this hypothesis? Comment on the result and write your conclusion regarding the hypothesis?

The CAL Company maintains a perpetual inventory system. The following information is available related to its December 31, 2020 year end: 1. Inventory costing $5,500 was received on December 20, 2020, on consignment from PPC. No journal entry has been made. 2. An invoice for $2,500, terms f.o.b. shipping point, was received and entered on December 30, 2020. The receiving report shows that the inventory was received on January 4, 2021, and the bill of lading shows that the inventory was shipped on January 2, 2021. 3. An invoice for $1,800, terms f.o.b. destination, was received and entered on January 2, 2021. The receiving report shows that the inventory was received on December 28, 2020.

Required: Prepare any correcting journal entries that are required at December 31, 2020, assuming that the books have not been closed. If no correction is needed, explain why

please answer using excel and explain

What are the appropriate descriptive statistics to summarize the Company-Z daily sales in Pre- and Post- COVID-19 Y1 & Y2?   Can you visualize both random variables separately using the graphing technique? Explain why you used these descriptive statistics and this graphing technique?               
Given;

During 2020, Barden Building Company constructed various assets at a total cost of $14,700,000. The weighted average accumulated expenditures on assets qualifying for capitalization of interest during 2020 were $9,800,000. The company had the following debt outstanding at December 31, 2020:

1.   10%, 5-year note to finance construction of various assets,

      dated January 1, 2020, with interest payable annually on January 1                     $6,300,000

2.   12%, ten-year bonds issued at par on December 31, 2014, with interest

      payable annually on December 31                                                                            7,000,000

3.   9%, 3-year note payable, dated January 1, 2019, with interest payable

      annually on January 1                                                                                               3,500,000

Instructions - Compute the amounts of each of the following (show computations).

1. Avoidable interest.

2. Total interest to be capitalized during 2020.

Solid bank loan P5 million to a borrower on January 1, 2018. The terms of the loan require principal payments of P1 million each year for five years plus interest at 8%.

The first principal and interest payment is due on January 1, 2019. The borrower made the required payments during 2019 and 2020. However, during 2020 the borrower began to experience financial difficulties, requiring the bank to reassess the collectibility of the loan.

On December 31, 2020, the bank has determined that this remaining principal will be collected as originally scheduled but the collection of the interest is unlikely. The bank did not accrue the interest on December 31, 2020.

PV Factor of an ordinary annuity 1 @ 8% for 1 period: 0.926

PV Factor of an ordinary annuity 1 @ 8% for 2 periods: 0.857

What is the impairment loss for 2020?

What is the carrying amount of the loan receivable on December 31, 2021?

Shanghai Enterprises has asked for your assistance in preparing a cash budget for the month of December 2020 and has provided projected sales revenue data below:

Projected sales: October 2020 $144,000

November 2020 $205,000

December 2020   $220,000

All sales are on credit with 65% collected during the month of sale, 18% collected during the month following the sale, 15% during the second month after the sale and 2% uncollectable.

Required:

a) Prepare the cash receipts section of a cash budget for Shanghai Enterprises for the month of December 2020.

b) Explain how Shanghai Enterprises would go about constructing a cash budget for the first three months of 2021. Note that Shanghai plans to purchase a major piece of equipment costing $500,000 in February 2021.

Please solve a and b both as I need help in both the sections. Thanks for the help:)

Periodic System— Calculating Ending Inventory and Cost of Sales using LIFO

The following information is available for Water Inc.

The company maintains a periodic inventory system. A physical inventory count shows 125 units in stock on January 31. What is (a) ending inventory on January 31, and (b) cost of goods sold for January, using the LIFO inventory method?

• Note: Round your final answers below to the nearest whole dollar.
• Use your rounded ending inventory answer to compute part b. cost of goods sold.

On May 1, 2020, Jackson Construction Company contracted to construct a factory building for a total contract price of $9,600,000. The building was completed by May 31,2022. The annual contract costs incurred, estimated costs to complete the contract, and accumulated billings to Fabrik for 2020, 2021, and 2022 are given below.                                                                       

                                                                                                            2020                                    2021                      2022

Contract costs incurred during the year                            $3,400,000            $2,400,000          $2,900,000

Estimated costs to complete the contract at Dec 31           4,600,000             3,100,000                    -0-

Billings                                                                                         1,200,000           4,100,000             4,300,000

"(a)   Using the percentage-of-completion method, prepare schedules to compute the profit or loss to be recognized as a result of this contract for the years ended December 31, 2020, 2021, and 2022. (Ignore income taxes.)

(b) Using the completed-contract method, prepare schedules to compute the profit or loss to be recognized as a result of this contract for the years ended December 31, 2020, 2021, and 2022. (Ignore incomes taxes.)"                               

Exercise Two - 4

Subject: Individual Instalments

John Lee, a resident of Newfoundland, had net tax owing for 2018 of $3,500, net tax owing for 2019 of $1,500, and expects to have net tax owing for 2020 of $4,500. Is he required to make instalment payments for 2020? If so, what would be the minimum quarterly payment and when would each instalment be due?

Exercise Two - 5

Subject: Individual Instalments

At the beginning of 2020, the following information relates to Jesse Forbes:

Is Jesse required to make instalment payments during 2020? If he is required to make instalment payments, indicate the amounts that would be required under each of the three alternative methods of calculating instalments. Indicate which alternative would be preferable.