My commute to university, follows a NORMAL distribution with a 35.5 minutes as mean and a standard deviation of 2.5 min. If my commute starts at 8:20 am and ideally I must be at university by 9am.

Define two random variables and formulate two questions, one involving binomial distribution and the other involving geometric distribution.

The intangible assets section of Salmiento Corporation’s balance sheet at Decem-
ber 31, 2010, is presented here.
Patents ($60,000 cost less $6,000 amortization) $54,000
Copyrights ($36,000 cost less $25,200 amortization) 10,800
Total $64,800
The patent was acquired in January 2010 and has a useful life of 10 years. The copyright
was acquired in January 2004 and also has a useful life of 10 years. The following cash
transactions may have affected intangible assets during 2011.
Jan. 2 Paid $45,000 legal costs to successfully defend the patent against in-
fringement by another company.
Jan.–June Developed a new product, incurring $210,000 in research and development
costs. A patent was granted for the product on July 1, and its useful life is
equal to its legal life. Legal and other costs for the patent were $20,000.
Sept. 1 Paid $40,000 to a quarterback to appear in commercials advertising
the company’s products. The commercials will air in September and
October.
Oct. 1 Acquired a copyright for $200,000. The copyright has a useful life and
legal life of 50 years.
Instructions
(a) Prepare journal entries to record the transactions.
(b) Prepare journal entries to record the 2011 amortization expense for intangible assets.
(c) Prepare the intangible assets section of the balance sheet at December 31, 2011.
(d) Prepare the note to the financial statements on Salmiento Corporation’s intangible
assets as of December 31, 2011.

Marydale Products permits its customers to defer payment by giving personal notes instead of cash. All the notes bear interest and require the customer to pay the entire note in a single payment 6 months after issuance. Consider the following transactions, which describe Marydale’s experience with two such notes:

Information for the economy of Pogo

2019

• Interest payments received from Foreign on Foreign assets owned by Pogo:                     $45M
• Interest payments paid to Foreign citizens on Pogo assets owned by Foreign:                   $48M
• Federal Reserve Bank of Pogo’s holding of interest-free Foreign assets, start of 2019:   $85M

2020

• Interest payments received from Foreign on Foreign assets owned by Pogo:                     $46M
• Interest payments paid to Foreign citizens on Pogo assets owned by Foreign:                   $52M
• Federal Reserve Bank of Pogo’s holding of interest-free Foreign assets, start of 2020:   $77M

Assumptions:            

• Interest rate on Foreign assets is 5% and the Interest rate on Pogo assets is 8% for both 2019 & 2020.
• Foreign central bank does not hold Pogo assets
• There are no Foreigners working in Pogo and no Pogo citizens working in Foreign during these years.

Questions:

What is Pogo’s balance of payments in 2019? Show your work

Presented below is information related to Donaldson Corp., for the year 2020. Prepare an income statement and answer the question below and other questions requiring the use of this income statement. Net sales $1,820,000 Cost of goods sold 1,240,000 Selling expenses 86,000 Administrative expenses 74,000 Dividend revenue 25,000 Interest revenue 20,000 Interest expense 50,000 Write-off of goodwill due to impairment 40,000 Depreciation expense omitted in 2018 105,000 Dividends declared 12,000 Effect on prior year’s of change in accounting principle (credit) 230,000 Loss from operations of discontinued component of business, net of tax 190,000 Gain from disposal of component of business, net of tax 260,000 Federal tax rate of 20% on all items Assume the 200,000 shares of common stock were outstanding during 2020. In the multiple-step income statement for 2020, how much was net income?

One of the arguments against NAFTA is that it hurt organized labor in the US and prevented it from gaining more members. How is this possible? Please elaborate

Are US exporters subject to income tax in importing countries? How does taxation of a branch firm differ from that of a subsidiary? Provide examples.

medicare used cost-based reimbursement method from 1966 to 1983 to pay US hospitals. What are the pros and cons of this reimbursement method?

1. Describe the most significant way our health care coverage system in the US differs from those in other wealthy, developed nations.

Are US exporters subject to income tax in importing countries? How does taxation of a branch firms differ from that of a subsidiary? Provide examples.