A professional football team is preparing its budget for the next year. One component of the budget is the revenue that they can expect from ticket sales. The home venue, Dylan Stadium, has five different seating zones with different prices. Key information is given below. The demands are all assumed to be normally distributed. Seating Zone Seats Available Ticket Price Mean Demand Standard Deviation

seat zones - Seat availability - Ticket Price - Mean demand - standard deviation.

First Level Sideline 15,000 $100.00 14,500 750

Second Level 5,000 $90.00 4,750    500

First Level End Zone 10,000 $80.00 9,000 1,250

Third Level Sideline 21,000 $70.00 17,000 2,500

Third Level End Zone 14,000 $60.00 8,000 3,000

Determine the distribution of total revenue under these assumptions using an Excel data table with 50 simulated trials. Summarize your results with a histogram.

a.) As of the end of the accounting period, December 31, Year 1, Great Plains Company has assets of $900,000 and liabilities of $300,000. During Year 2, stockholders invested an additional $75,000 in Great Plains Company and received $30,000 in dividends from Great Plains Company.

What is the amount of net income during Year 2, assuming that as of December 31, Year 2, assets were $995,000 and liabilities were $200,000?

b.) A firm hired an employee that will make $100 per day, and will be paid on the 1st and 15th of every month. Assume the employee works 10 days in each pay period.

Which of the following adjusting entries (if any) should the firm make at the end of each month assuming that the employee works the full 10 days in each pay period?

A firm is considering investing in a 15-year capital budgeting project with a net investment of $14 million. The project is expected to generate annual net cash flows each year of $2 million and a terminal value at the end of the project of $10 million. The firm’s cost of capital is 9 percent and marginal tax rate is 40%. What is the profitability index of this investment?

What corporate governance issues that AMAZON faces and how they are addressed in the current year?

The following information is available for two different types of businesses for the 2016 accounting year. Hopkins CPAs is a service business that provides accounting services to small businesses. Sports Clothing is a merchandising business that sells sports clothing to college students. Data for Hopkins CPAs 1. Borrowed $41,000 from the bank to start the business. 2. Provided $31,000 of services to clients and collected $31,000 cash. 3. Paid salary expense of $19,800. Data for Sports Clothing 1. Borrowed $41,000 from the bank to start the business. 2. Purchased $20,000 inventory for cash. 3. Inventory costing $16,800 was sold for $30,000 cash. 4. Paid $2,400 cash for operating expenses.

Person A has to immunize a series of payments going to customers in Year 1 $450,000 , in Year 2 $350,000 Year 3 $600,000 The market yield for the cash flows corresponding to the required payments is 7%. Person A hires Person B to immunize the fund...Person B pursues an immunization strategy by investing in 1-year Zeroes and perpetuities, which have a yield of 9%.

A.What is the Duration of the pension fund?

B.What is the % of zeros will Person B suggest the Person A to invest?

C.What will  percentage of perpetuities be?

You are engaged to examine the financial statements of Lauzon Inc. for the year ended December 31.On October 1, Lauzon Inc. borrowed $250,000 from a local bank to finance a plant expansion. The loan agreement provided for the annual payment of principal and interest over three years. Lauzon’s existing plant was pledged as security for the loan.
Unfortunately, Lauzon ran into some difficulties in acquiring the new plant site. Thus, the plant expansion was delayed. Lauzon then proceeded to “plan B,” which was to invest the borrowed funds in stocks and bonds. As a result, on October 20, the entire amount borrowed was invested in securities.

What relevant evidence needs to be obtained to support the audit of investments in securities? (more than one correct answers)

Evidence that securities are legitimate and held by Lauzon to ascertain existence.

Evidence the $250,000 is the amount actually owed on the loan to ascertain the disclosure assertion has been met.

Evidence the securities are owned by Lauzon to ascertain the ownership rights.

Evidence of the cost and market value of the securities held at December 31st to determine the completeness of the balance.

Evidence the loan transaction and securities purchase transactions actually took place during the year to ensure occurrence.

Determine if any write-downs to market are required to determine if the balance is accurate and valued properly.

This year Noah transferred $7 million to an irrevocable trust established for the benefit of his niece. The trustee
is directed to accumulate income for the next five years before distributing the before distributing the trust corpus to
Noah’s niece. In past years Noah has made taxable gifts of $6 million and used an applicable credit on an exemption
equivalent of $5 million. What amount of gift tax, if any, must Noah remit?

Please show work if possible! thanks