Male students at SCC last semester. You will use this data throughout the semester on your lab assignments.

Student # Gender Height Shoe Age Hand

1 M 67 10 19 R

2 M 74 12 17 R

3 M 72 11.5 19 R

4 M 69 10 35 R

5 M 66 9 18 R

6 M 71 10.5 17 R

7 M 72 10.5 17 R

8 M 66 10 20 R

9 M 67 10 18 R

10 M 71 10.5 24 R

11 M 66 10 21 R

12 M 71 10.5 18 R

13 M 69 10 22 R

14 M 66 9.5 18 L

15 M 76 14 18 R

16 M 69 11 22 R

17 M 68 9 19 R

18 M 70 12 30 R

19 M 67 10 24 R

20 M 70 11 21 R

21 M 70 10 52 R

22 M 63 9 27 R

23 M 69 11 22 R

24 M 72 10 22 R

25 M 76 11.5 20 L

26 M 75 11 17 R

27 M 72 11 50 L

28 M 69 11 20 R

29 M 70 12 20 R

30 M 69 11.5 23 R

31 M 70 11 18 R

32 M 67 10 21 R

33 M 68 11 44 R

34 M 76 13 48 R

35 M 62 8 23 L

36 M 69 9 19 R

37 M 72 10 60 R

38 M 73 11.5 41 R

39 M 70 9.5 39 R

40 M 78 15 24 R

41 M 65 8.5 23 R

42 M 68 9.5 20 R

2. Using the SCC men’s/women’s class sample data at the ?=0.05, is there enough evidence to conclude that there is a significant linear correlation between men’s/women’s height and men’s/women’s shoe size?

a. State the null and alternate hypotheses.

b. Specify the level of significance.

c. State the correlation coefficient. (3 decimal places)

d. State the critical value from Table 11. (Use the value of n that is closest to your sample size.)

e. State whether to “reject the ?0” or “fail to reject the ?0”.

f. Interpret the decision in the context of the original claim.

The unadjusted trial balance at November 30 is below:

Clown Around had the following transactions and events in December 2019:

The following additional items were disclosed for use in making adjusting entries before preparing financial statements. No adjustments have been made during 2019.

a. The December 31 inventory count of supplies shows that only $2,500 remains unused.

b. The insurance premium of $6,400 was paid on April 1 and covers a term of two (2) years.

c. The prepaid rent account was created on January 1 when five (5) years rent was paid in advance.

d. As of December 31, the clowns had not been paid for one week of work in the amount of $750.

e.  The office equipment was put into use on January 1, and has a useful life of ten (10) years with no salvage value. Clown Around, Inc. uses straight-line depreciation on all property, plant and equipment.

f.  The computer equipment was also put into use on January 1, and is estimated to have a useful life of five (5) years with no salvage value.

g.  The beginning balance in unearned revenue was earned when the clowns performed at a birthday party on December 7.

Required:

1. Enter the beginning balances.

2.  Prepare journal entries to record each of the December transactions and events for Clown Around, Inc.

3.  Prepare an unadjusted trial balance as of December 31, 2019.

4.  Prepare adjusting entries to reflect a. through f.

5.  Prepare an adjusted trial balance as of December 31, 2019.

6.  Prepare an income statement and statement of retained earnings for the year ended December 31, 2019. Prepare a balance sheet as of December 31, 2019.

7.  Prepare closing entries.

8.  Prepare a post-closing trial balance

The impact of COVID-19 individuals, communities, and organizations is rapidly evolving from a mild and temporary hit to the worst-case scenario, a global financial crisis. While other industries such as the Travel, Transportation, Hospitality, Insurance, Retail, and Telco are severely impacted, it is the resiliency and continuity of the financial services markets that will support Governments and businesses during and post crisis; ensuring liquidity is available. All eyes will be turned to the financial services industry to see if they can respond in a manner that reduces the global economic impact of COVID-19. The COVID-19 pandemic could be the most serious challenge to financial institutions in nearly a century. As the economic fallout spreads, retail banks find themselves juggling some big priorities that require concrete steps to reposition now while also recalibrating for the future. They are working to keep their distribution channels open, despite social distancing advice and supervisory and compliance functions that were never designed for remote work. They’re trying to manage revenue and customer expectations, despite near-zero interest rates and growing pressure on consumers. And, they need to keep an eye on strategy and brand issues that will define their future, as market forces and customer behaviors potentially change coming out of this crisis. COVID-19 and the Marketing Environment While definitions differ, there is consensus that the Marketing Environment is the combination of external and internal factors and forces which affect the company’s ability to establish a relationship and serve its customers. The Marketing Environment includes factors that surround the business and influence its marketing operations. Kotler (2019) posits that these forces remain outside the control of the firm and can upset marketing management ability to build and maintain successful relationships with target customers. Some of these factors are controllable while some are uncontrollable and require business operations to change accordingly. Firms must be well aware of the marketing environment in which they are 3 operating to overcome the negative impacts the environmental factors are imposing on their marketing activities. Against this background, PwC (2020) conjectures that the COVID-19 pandemic could be the most serious challenge to financial institutions in nearly a century. As the economic fallout spreads, retail banks find themselves juggling some big priorities that require concrete steps to reposition now while also recalibrating for the future. It implies that agile banks will survive by taking concrete steps right now; to support the communities and customers they serve while balancing medium to long term positioning; those that do not adjust may risk not surviving at all. Ghanaian financial institutions are not insulated from this reality. REQUIRED Drawing on this background and your knowledge of Marketing of Financial Services:

A. Provide a critical analysis of FIVE (5) Macro Marketing Environmental forces affecting the financial service sector today. The macro-environment refers to all forces that are part of the larger society and affect the micro-environment. They include the demographic environment, political environment, cultural environment, natural environment, technological environment and the economic environment. The purpose of analyzing the macro marketing environment is to understand the environment better and to adapt to the social environment and change through the marketing effort of the financial institutions to achieve the goal of the financial institutions marketing

B. With a critical analysis of the micro environmental forces which are forces close to the company that affects its ability to serve its customers; all those factors that are closely associated with the operations of the business and influences its functioning including suppliers, customers, marketing intermediaries, competitors and publics; discuss the effects of COVID-19 on Five (5) micro environmental forces within the financial service sector in Ghana today.

1. When a business has a market share of 100% it is known as:

A. A competitive market

B. A monopoly

C. An oligopoly

D. Monopolistic competition

2. What happens in the long run in perfect competition?

A. Abnormal profits are earned

B. Businesses are allocatively inefficient

C. A firm produces where average revenue is greater than average cost

D. A firm produces where marginal revenue equals marginal cost

3. From the following, when do losses always occur?

A. Marginal revenue equals the price

B. Average revenue is less than average cost

C. Average revenue equals average cost

D. Marginal cost equals average cost

4. In a monopoly market...

A. there are no barriers to entry

B. abnormal profits are only earned in the short run

C. the demand curve for a business is downward sloping

D. a profit maximising business produces where average revenue equals marginal revenue

ABC Company is the regional sales dealer/distributor of XYZ Company., which is a big tyre producer
- It was established in 2009 as a partnership of two brothers
- XYZ Company is the only supplier of tyre products for the ABC Company.
- ABC Ltd. has two types of sales channel : Retail (to end-consumers through its retail shop – B2C) and Commercial (to several companies in different sectors - B2B sales)
- Payment terms to XYZ AS. is 60 days for retail and 75 days for commercial purchases. Average sales term of ABC Ltd. for its own B2B sales is 90 days.

1) Analyze the ABC Company. financials and write a brief financial evaluation.

2) Write a possible commercial scenario of your estimation, supporting your financial evaluation : What may have occured ? What might be the reasons of current financial situation ?

Question 22

Which of the following is NOT an example of a legal barrier to entry?

patents

government granted franchise

copyrights

information

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Question 23

To be able to price discriminate, a firm must

have a public franchise.

be a natural monopoly.

prevent resales.

have a patent.

Question 24

For a single-price monopolist, price is

equal to marginal revenue.

greater than marginal revenue.

less than marginal revenue.

equal to zero because the firm is not a price taker.

Question 25

To maximize its profit, a single-price monopolist will produce an output level where its marginal revenue

equals zero.

equals its marginal cost.

exceeds its marginal cost.

is less than its marginal cost.

Question 26

If we compare perfect competition to a single-price monopolist, we see that the monopolist sells

the same quantity at higher prices.

a smaller quantity at higher prices.

a larger quantity at lower prices.

a larger quantity at higher prices.

Question 27

One way a monopoly can convert additional consumer surplus into economic profit is to

lower prices.

raise prices.

price discriminate.

become more competitive.

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Question 28

Compared to a single-price monopoly, when a monopoly can perfectly price discriminate, the deadweight loss

increases.

decreases.

remains the same.

might change, but more information is needed to determine if it increases, decreases, or remains constant.

Question 29

Compared to a single-price monopoly, when a monopoly can perfectly price discriminate, the Consumer Surplus

increases.

decreases.

remains the same.

might change, but more information is needed to determine if it increases, decreases, or remains constant.

Question 30

The total revenue test using the price elasticity of demand

explains why monopolies will only operate on the elastic portion of their demand curve.

explains why monopolies will only operate on the inelastic portion of their demand curves.

helps regulators decide whether to use a marginal cost pricing rule or an average cost pricing rule.

determines whether a monopoly can perfectly price discriminate or not.

Shown below is the information needed to prepare bank reconciliation for Mandy Company on 31 October 2019:
(1) The cash ledger account showed a balance of $8,510, while the bank statement indicated a cash balance of $12,390.

(2) The bank statement showed $45 interest earned for the month of October.

(3) ZYX company settled its notes payable by depositing $4,000 directly into Mandy’s bank account.

(4) The company issued three checks totaling $1,000, which had not been shown in the bank statement in October. (5) A $300 check mailed to the bank for deposit had not reached the bank on 31 October.

(6) A $710 deposit to Manning Company was erroneously credited to Mandy’s account by the bank.

(7) The bank returned a customer’s NSF check for $575 received as payment of an account receivable.

(8) A $2,500 check received from a tenant for rental revenue was recorded as $3,500 in the book.

Question 1B

Prepare the necessary journal entries to update the accounting records.

Create a 5-year capital budget for the project below assuming the following.

1.$500,000 initial outlay for purchase of new machine for a 5-year contract the company was awarded from a customer.

2.The company will have to rent new space for $50,000/year to put machine in.

3.A one-time, year 1 cost to set up the machine and get it running will be $200,000.

4.The machine is expected to generate revenue beginning in year 2.

The machine will generate around $150,000 in year 2...that number will increase by about 10% per year thereafter.

5.Machine is depreciated using S/L depreciation.

6.The company hasa flat tax rate of 25%.

7.The discount rate is 9%.

Build a 5-year capital budget that includes all of the above items and shows EBITDA, EBT, Taxes Paid, Net Income, and cash flow per year.

Then calculate NPV and IRR. Should the company undertake the project? Why or why not?

A warehouse receives orders for a particular product on a regular basis. When an order is placed, customers can order 3, 4, 5, ..., 21 units of the product. Historical data suggest that the size of any given order is equally likely to be of any of these sizes. Let X denote the size of an order.

Find the probability that a customer orders exactly five units.

A warehouse receives orders for a particular product on a regular basis. When an order is placed, customers can order 3, 4, 5, ..., 25 units of the product. Historical data suggest that the size of any given order is equally likely to be of any of these sizes. Let X denote the size of an order.

Find the probability that a customer orders at most five units.

A warehouse receives orders for a particular product on a regular basis. When an order is placed, customers can order 3, 4, 5, ..., 22 units of the product. Historical data suggest that the size of any given order is equally likely to be of any of these sizes. Let X denote the size of an order.

Find the probability that a customer orders at least five units.