Demand can be estimated with experimental data, time-series data, or cross-section data. In this case, cross-section data appear in the Excel file. Soft drink consumption in cans per capita per year is related to six-pack price, income per capita, and mean temperature across the 48 contiguous states in the United States.

QUESTIONS 1. Given the data, please construct the demand estimation for soft drink consumption in the United States by

(1) a multiple-linear regression equation and

(2) a log-linear (exponential) regression equation

2. Given the MS Excel output in Question 1, please compare the two regression equations’ coefficient of determination (R-square), F-test and t-test. Which equation is a good (better) fit? Which equation shows the stronger overall significance to predict the future demand? Which equation will you choose as a better estimation for quantity demanded? Which equation will you choose as a better estimation for elasticities? Explain your answer in the language of statistics.

Before reading Detroit's Forgotten History by Bill McGraw, I had no idea that slavery occurred anywhere in Michigan, especially in Detroit. From middle school to high school, I learned a good amount of knowledge on slavery, but I was led to believe that slavery only occurred in Southern states. And for the southern states still having slavery this resulted in the Civil War. Thinking about it now, my best knowledge of slavery are the events that occurred because of it, instead of slavery itself. For example, the Underground Railroad was taught heavily in school, while the direct subject of slavery wasn't. This is very surprising since the magnitude slavery has on United States's history. Education system neglected teaching the harsh, violent riots of slavery but focused more on uprising events like the Underground railroad. Now events like the Underground railroad deserve recognition, but at the same time we shouldn't shy away from the harsh, violent acts these innocent people endured. Living near Detroit my whole life, and not knowing that slavery played a huge role in the foundation of Detroit is very disappointing. I entirely agree with McGraw's statement that: "Local students learn about the Underground Railroad in school, but Detroit’s slave history is rarely taught.”? In the , Underground Railroad and Violence by Roy E. Finkenbine, Finkenbine addresses the violence that occurred against free black people after the Civil War. Violence was used against African Americans to make them leave or even die. Free blacks from the south and north made their way to the east side of Detroit to live in the neighborhoods. This obviously provoking the fellow neighbors in these neighborhoods, violence then would break out. These acts of violence were meant to push the free slaves away but instead it did the opposite. These free slaves were so desperate and determined to stay free that they were willing to return the violence back. Members of the African American community and some white allies fought back to protect the free slaves wanting to stay free (Finkenbine pg. 23). The law that played a significant role in the uprisings and violence described by Finkenbine was the Fugitive Slave Act of 1793. Violence erupted during this act because slave owners were able to track any of their runaway slaves in the United States. This act did nothing but create more violence because these free slaves were tired of the hardship, so they were going to fight back to live a free life. “Slavery is the ground zero of race relations.” This is an extremely heavy and true statement. After the black community were free by slavery, they were still not accepted in America. With Jim Crow laws and other acts against the black community, the fight was still not over. African Americans had to face the fact that slavery was just the first battle. More racial situations and acts were coming toward them and even this day we see it. Still today racial altercations occur frequently in America and it is just saddening. Noticing the lack of progress this country has made toward this dilemma is truly depressing. As a nation we still can't look or treat people the same, and having to go back to racial objections is horrifying. Taking more action and to keep fighting this oppression is the best way to move forward. Slavery will never be forgotten as a historical period, but not improving from it could be even worse and unforgettable as history goes on.

reply to this comment by discussing and agreeing the topic mentioned, please.

Bonadio Electrical Supplies distributes electrical components to the construction industry. The company began as a local supplier 15 yrs ago and has grown rapidly to become a major competitor in the North central U.S. As the business grew and variety of components to be stocked expanded, Bonadio acquired a computer and implemented an inventory control system. Other applications such as accounts receivable, account payable, payroll, and sale analysis were gradually computerized as each function expanded. Because of its operational importance, the inventory system has been upgraded to an online system, while all the other applications are operating in batch mode. Over the years, the company has developed or acquired more than 100 application programs and maintains hundreds of files. Bonadio faces stiff competition from local suppliers throughout its marketing area. At a management meeting, the sales manager complained about the difficulty obtaining immediate, current information to respond to customer inquiries. Other managers states that they also had difficulty obtaining timely data from the system. As the result, the controller engaged a consulting firm to explore the situation. The consultant recommended installing a database management system (DBSM), and the company complied, employing Jack Gibbons as the database administrator.

At a recent management meeting, Gibbons presented an overview of the DBMS. Gibbons explained that the databases approach assumes an organizational, data oriented viewpoint as it recognizes that a centralized database represents a vital resource. Instead of being assigned to applications, information is more appropriately used and managed for the entire organization. The operating system physically moves data to and from disk storage, while the DBMS is the software program that controls the data definition library that specifies the data structures and characteristics. As the result. both the roles of the application programs and query software and the tasks of the application programers and users are simplified. Under the database approach, the data are available to all users within security guidelines.

a. Explain the basic difference between a file-oriented system and database management system.

b. Describe at least 3 advantages and at least 3 disadvantages of the database management system.

c. Describe the duties and responsibilities of Jack Gibbons, the database administrator. (CMA Adapted)

Question 1

A. Cash is a monetary and financial asset. It is the most liquid finance asset; it is also the standard medium of exchange for most business transactions. Cash is usually classified as a current account, however there are circumstances in which cash is classified as a non-current asset.

Required:

With the aid of a suitable example, explain when can be classified as a non-current asset.

B. Study the following items related to transactions during the year to September 30, 2020 for Thompson’s Tours’ Inc. All transactions are reported on the financial statements in $XCD.  

I. A bank overdraft of $200,000 in a chequing account at St Kitts National Bank.

II. A saving account with a balance of $400,000 at Open Campus Bank and chequing account with an overdraft of $100,000 at the same bank repayable on demand.

III. The Operation Manager was given a salary advance of $2,000 on August 24, 2020 and this amount was deducted from his October salary.

IV. CAD$3,045 on hand from tips up to March 31, 2020, its pre-COVID operations when the exchange rate was CAD$1 = $2.01 XCD. On September 30, 2020, the exchange rate was CAD$1 = $1.95 XCD

V. Special Edition Independence postage stamps on hand valued at $200.

VI. Cash holdings of US$100,000, the exchange rate on September 30, 2020 is $2.70.

VII. Petty cash on hand valued at $1,500.

VIII. A cheque in the amount of $5,000 and dated October 23, 2020 was received from a customer on September 27, 2020.

IX. Short term 60 days treasury bill valued at $35,000.

X. Thompson’s Tours’ Inc. invested $1,000,000 in a money market fund with Mona Campus Bank on July 10, 2020 which will mature on October 9, 2020.

Required:

a. List all items from above that would NOT be classified as cash or cash equivalents in the current asset section of Thompson’s Tours’ Inc. Statement of Financial Position as at September 30, 2020? State how each of these items would then be classified in the financials.   

b. Prepare the necessary journal entry at September 30, 2020 to account for Item IV.  

C. Using the information in B above, calculate the cash and cash equivalent value that would appear in Thompson’s Tours’ Inc. Statement of Financial Position on September 30,2020.    

Total 15 marks

Question 2

A.   List two (2) policies a company may adopt to lessen the risk of uncollectible accounts and improve its cashflows. (1 mark)

B. Joseph Corporation a mobile phone wholesaler sells mobile phones to PhoneTech Ltd, a mobile phone retailer on August 1, 2020 for $500 each, the value of the sale is $50,000, with credit terms of 3/10, n/30. Assume the company uses the net method to record accounts receivables.

Required:

a. Prepare the journal entry to record the sale.

b. On August 8, 2020, collection on $15,000 of the sales was received from PhoneTech. Record the necessary journal entry for the cash received.

c. The remaining $35,000 of the sales was collected on August 28, 2020 from Phone Tech. Record the necessary journal entry for the transaction on this date.          

Total 13 marks

Question 3

A. J & B Company uses the percentage of sales approach to estimate its uncollectible accounts. The company’s annual sales for its first financial year of operations ending July 31, 2020 was $500,000, cash sales contributed to 2% of the overall sales and the accounts receivable balance at year end was $75,000. Based on industry expectations, it estimated that 3% of its credit sales would be uncollectible.

Required:

a. Calculate the bad debt expense at July 31, 2020.

b. Calculate the net receivable balance that would be reported in the Statement of Financial Position as at July 31, 2020. (1 mark)

B. Tosh and Sons Inc. uses the percentage of receivables approach to estimate its uncollectible accounts. The company had sales of $100,000 at the end of its financial year on June 30, 2020. The allowance for doubtful debts account had a debit balance of $400, the accounts receivable balance was $30,000at year end and the company estimates the uncollectible percentages as follows:

Current (1 - 30 days)   $15,000           0.5%

31 - 60 days                 $10,000           2.0%

61 - 90 days                 $3,000             10.0%

Over 90 days               $2000              60.0%

Required:

a. Calculate the bad debt expense at June 30, 2020.

b. Prepare the necessary journal entry to record the bad debt expense for the year.

b. During the financial year ending May 31, 2020 the Board of Directors of Chung Sa Corporation authorised the write off of a $3,000 two-year debt belonging to a previous customer Jap Inc. On July 2, 2020 Chung Sa Corporation received an electronic funds transfer from Jap Inc. in the amount of $3,000.

Required:

Prepare all necessary journal entries to record this transaction.

Patient Advocacy During a Pandemic

Code of Ethics for Nurses with Interpretive Statements

● In 2015, the American Nurses Association enacted a non-negotiable ethical practice standard

● Provision 2 states: “the nurses primary commitment is to the patient”

● Provision 5: “nurse owes the same duty to self as to others” *these equally important obligations can and will most likely conflict during pandemics when nurses must care for critically ill, infectious patients with limited resources*

How Do I Keep My Patient and Myself Safe?
● Internal Conflict

● Times where an RN must make a choice based on morality to maintain professional integrity.

Other providers in the hospital must understand employee/employer expectations during this time

● The patient comes first

○ Make sure the patient’s needs are met

○ Build a relationship with the patient - picture of yourself

Self Advocacy
● During COVID-19, the patient cannot have any family members with them during a hospital stay

● If a patient wishes to have family there to help advocate for them, it is in the nurses & patient best interest to take on the role of being their informal advocate on behalf of the family

● Patients have to find the strength to be their own advocate, despite these uncertain times

○ Nurses job is to stay as informed as possible since the patient is relying on them for the bulk of information

■ *How is this possible when interactions are limited?*

● Reading materials, bullet point notes, building trust

employee/employer expectations during this time

● A patient comes first ○ Make sure the patient’s needs are met ○ Build a relationship with patient - picture of yourself

Individual Advocacy
● Formal advocacy ○ Policy groups have a bigger role than ever ○ Legally, hospital-acquired conditions are a bigger concern than ever ○ Resources are fewer, staffing is shorter, new teams are working together, more preventable errors bound to occur
● Informal advocacy ○ Use of video chats and phone calls with family if the patient needs family input ○ Designate one family member to be the main communicator of the family ○ The nurse need to develop a clear communication by explaining the risk of the pandemic

Systems Advocacy
. Advocate for patients without medical insurance to be treated and protect the most vulnerable.
. Stand for equality treatment When it comes for the pandemic.
. If the hospital does not have a PPE, the nurse need to speak up for themselves.
Citations
Young, R., & McMahon, S. (2020, April 15). Patient Advocacy Group Offers Advice For Sick Loved Ones

Reflective journal

QUESTION: How the pandemic COVID 19 can affect a nursing job when it comes to advocating for patients. Please at least 2 paragraphs with 7 sentences

Sale of Equipment Equipment was acquired at the beginning of the year at a cost of $34,000. The equipment was depreciated using the double-declining-balance method based on an estimated useful life of ten years and an estimated residual value of $660. a. What was the depreciation for the first year? b. Assuming the equipment was sold at the end of year 2 for $7,860, determine the gain or loss on the sale of the equipment.

Equipment was acquired at the beginning of the year at a cost of $38,500. The equipment was depreciated using the double-declining-balance method based on an estimated useful life of ten years and an estimated residual value of $750.

a. What was the depreciation for the first year?
$

b. Assuming the equipment was sold at the end of year 2 for $8,900, determine the gain or loss on the sale of the equipment.
$  Loss

Feedback

Book value is the asset cost minus accumulated depreciation. In the first year, the balance in the accumulated depreciation account is zero.

Compare the book value to the sale price. If the book value is more than the sale price, the equipment was sold for a loss. If the book value is less than the sale price, the equipment was sold for a gain.

c. Journalize the entry to record the sale. If an amount box does not require an entry, leave it blank.

*A PPE is acquired for 10.000 $ at the beginning of 2016. It had a useful life of 5 years. On January 1, 2018 the asset was revalued to 12.000 $. What would be the comprehensive income in year 2018?

a) 6.000

b) 4.000

c) 2.000

d) 3.000

*Suppose that a company has 2 buildings, one for investment (A) and one for administrative (B) purposes. Both properties have an initial cost of 1.000.000 $. The company does not use the cost model and both properties have 10 years of useful lives. A is revalued one year later and the revalued amount is 900.000 $. B is also revalued one year later and the revalued amount is 1.200.000 $. After the revaluation the company immediately sells A at 950.000 $ and sells B at 800.000 $. What is the profit/loss amount in the income statement for all of the transactions above?

a) 50.000 loss

b) 250.000 loss

c) 100.000 profit

d) 150.000 profit

*What does PIRATE stand for intangible assets?

a) Criteria for capitalizing research costs

b) Criteria for capitalizing development costs

c) Criteria for capitalizing directly attributable costs

d) Criteria for capitalizing amortization costs