On March 1, Sather Co. sold merchandise to Boone Co. on account, $29,800, terms 2/15, n/30. The cost of the merchandise sold is $18,300. The merchandise was paid for on March 14.

Journalize the entries for Sather Co. and Boone Co. for the sale, purchase, and payment of amount due. Refer to the appropriate company’s Chart of Accounts for exact wording of account titles.

Chart of Accounts-Sather Co.

Chart of Accounts-Boone Co.

Journal-Sather Co.

Journalize the entries for Sather Co. for the sale on March 1 and payment of the amount due on March 14. Refer to the appropriate company’s Chart of Accounts for exact wording of account titles.

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JOURNAL

Journal-Boone Co.

Journalize the entries for Boone Co. for the purchase on March 1 and payment of the amount due on March 14. Refer to the appropriate company’s Chart of Accounts for exact wording of account titles.

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JOURNAL

Problem 10-8

Vaughn Corporation wishes to exchange a machine used in its operations. Vaughn has received the following offers from other companies in the industry.

In addition, Vaughn contacted Whispering Corporation, a dealer in machines. To obtain a new machine, Vaughn must pay $102,300 in addition to trading in its old machine.

For each of the four independent situations, prepare the journal entries to record the exchange on the books of each company. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.)

List of Accounts

Accounts Payable
Accumulated Depreciation-Building
Accumulated Depreciation-Equipment
Accumulated Depreciation-Machinery
Accumulated Depreciation-Trucks
Buildings
Cash
Common Stock
Contribution Revenue
Cost of Goods Sold
Depreciation Expense
Direct Labor
Discount on Notes Payable
Equipment
Factory Overhead
Gain on Disposal of Buildings
Gain on Disposal of Equipment
Gain on Disposal of Machinery
Gain on Disposal of Trucks
Insurance Expense
Interest Expense
Inventory
Land
Land Improvements
Loss on Disposal of Buildings
Loss on Disposal of Equipment
Loss on Disposal of Machinery
Loss on Disposal of Trucks
Machinery
Maintenance and Repairs Expense
Materials
No Entry
Notes Payable
Organization Expense
Paid-in Capital in Excess of Par - Common Stock
Prepaid Insurance
Retained Earnings
Salaries and Wages Expense
Sales Revenue
Trading Securities
Trucks

Suppose that you are working for a chain restaurant and wish to design a promotion to disabuse the public of notions that the service is slow. You decide to institute a policy that any customer that waits too long will receive their meal for free. You know that the wait times for customers are normally distributed with a mean of 18 minutes and a standard deviation of 3.5 minutes. Use statistics to decide the maximum wait time you would advertise to customers so that you only give away free meals to at most 1.5% of the customers.

a. Determine an estimate of an advertised maximum wait time so that 1.5% of the customers would receive a free meal. Round to one decimal place

b. Include a graph illustrating the solution. For the graph do NOT make an empirical rule graph, just include the mean and the mark off the area that corresponds to the 1.5% who would receive the refund.

c. Write a response to the vice president explaining your prescribed maximum wait time. Structure your essay as follows:

1. An advanced explanation of the normal distribution
2. Why the normal distribution might apply to this situation
3. Describe the specific normal distribution for this situation (give the mean and standard deviation)
4. Explain how the graph created in part b. represents the waiting times of the customers.
5. Explain the answer to part a. in terms of both the customers who get a free meal and those who do not. Feel free to use the accurate answer in part a to determine a "nice" wait time to be used in the actual advertising campaign.
6. Use the answers to parts a. and b. to explain how the proposal will not result in a loss of profit for the company.

During the covid-19 pandemic, a fast food company in Macau recorded their sales in one day (in proper units) of 40 days as the following.  

a. Find the mode and median of the data.

b. Determine the first and third quartiles, and find the interquartile range.

c. Find the five-number summary.

d. Lower limit and upper limit of the data.

e. Find the outlier(s) with reasons, if any.

Process,pls

South Beach Apparel issued 11,000 shares of $4 par value stock for $20 per share. What is true about the journal entry to record the issuance?

Multiple Choice

• Credit Common Stock $220,000

• Debit Common Stock $44,000

• Credit Additional Paid-In Capital $176,000

• Credit Cash $220,000   

  A company issued 1,900 shares of $3 par value preferred stock for $4 per share. What is true about the journal entry to record the issuance?

  Multiple Choice

• Credit Additional Paid-In Capital $1,900

• Debit Preferred Stock $7,600

• Credit Cash $7,600

• Credit Preferred Stock $7,600

  On February 22, Brett Corporation acquired 200 shares of its $4 par value common stock for $23 each. On March 15, the company resold 64 shares for $27 each. What is true of the entry for reselling the shares?

  Multiple Choice

• Credit Treasury Stock $1,728

• Credit Cash $1,472

• Credit Additional Paid–in Capital $256

• Debit Treasury Stock $1,472

A seed company is developing many strains of tomatoes by selective breeding. Trials of two similar but not identical strains with favorable qualities were done in two fields under similar conditions. The company would like to know if the population average weight of tomato for strain 2 (u2) is statistically significantly larger than the population average weight for stain 1 (u1). Consequently they picked at random 15 tomatoes from the field with strain 1 and 14 from the field with strain 2 and weighed them.

Weight grams:

strain 1

132, 68, 74, 93, 61, 81, 62, 68, 103, 72, 64, 104, 62, 86, 95.

strain 2

40, 88, 112, 127, 114, 124, 95, 125, 989, 86, 142, 130, 70, 81.

Does the strain 2 have significantly greater mean weight than for strain 1? Test this hypothesis at the alpha = 0.01 and 0.05 levels, using the two samples. Make the assumption that the weight is distributed normally in both populations with equal variances. You will be testing u1 vs u2.

1) Which diagram shows reject/ fail to reject regions for this problem?

2) what is the test statistic is use for question?

3) compute the sample means and standard deviations that you will need for 5 &6.

4) what is the test statistic value computed from the data in question 1 &3?

5) if the level of significance alpha is .01 state the critical values which you would use relevant to questions 1&4.

6) if the level of significance alpha is 0.05 state the critical value which you would use relevant to questions 1 and4.

Lecondo Company is engaged in the manufacture and sale of fitness apparel. Several years ago it bought a health food business that has incurred losses since its acquisition. In 2018, the company sold the health food business. The results of operations and other activities for 2018 are summarized below.

                   Fitness Apparel        Health foods

Net sales               $17,400,000           $2,600,000

Cost of goods sold              8,100,000              1,700,000

Other operating expenses          4,700,000             1,200,000

Other:

The health food business was sold in September 2018 at a disposal loss of $500,000.

Treasury stock that had been acquired in 2017 for $130,000 was sold in 2018 for $195,000. The difference between cost and reissue price is not taxable.

During 2018, Lecondo sold 10,000 shares of its previously unissued $10 par value common stock to the public at a price of $27 per share.

Interest revenue of $2,000 was earned during 2018.

Cash dividends declared and paid during 2018 amounted to $700,000.

The fitness apparel division sold land at a $98,000 gain during 2018.

All of the foregoing amounts are before considering the effects of income taxes. The income tax rate is 40%.

Required: Calculate the following amounts that would appear on Lecondo’s income statement. Be alert for items that should not be included in the computation of net income.

Gross profit

Operating income

Income from continuing operations before taxes

Income from continuing operations

Net income

Check figures:

b. Operating income, $4,600,000

c. Income from continuing operations (before taxes), $4,700,000

d. Income from continuing operations (after taxes), $2,820,000

e. Net income, $2,340,000

Gallatin Carpet Cleaning is a small, family-owned business operating out of Bozeman, Montana. For its services, the company has always charged a flat fee per hundred square feet of carpet cleaned. The current fee is $22.05 per hundred square feet. However, there is some question about whether the company is actually making any money on jobs for some customers—particularly those located on remote ranches that require considerable travel time. The owner’s daughter, home for the summer from college, has suggested investigating this question using activity-based costing. After some discussion, she designed a simple system consisting of four activity cost pools. The activity cost pools and their activity measures appear below:

The total cost of operating the company for the year is $345,000 which includes the following costs:

Resource consumption is distributed across the activities as follows:

Job support consists of receiving calls from potential customers at the home office, scheduling jobs, billing, resolving issues, and so on.

Required:

1. Prepare the first-stage allocation of costs to the activity cost pools.

2. Compute the activity rates for the activity cost pools.

3. The company recently completed a 200 square foot carpet-cleaning job at the Flying N Ranch—a 60-mile round-trip journey from the company’s offices in Bozeman. Compute the cost of this job using the activity-based costing system.

4. The revenue from the Flying N Ranch was $44.10 (200 square feet @ $22.05 per hundred square feet). Calculate the customer margin earned on this job.

Complete this question by entering your answers in the tabs below.

Prepare the first-stage allocation of costs to the activity cost pools.

Compute the activity rates for the activity cost pools. (Round your answers to 2 decimal places.)

The company recently completed a 200 square foot carpet-cleaning job at the Flying N Ranch—a 60-mile round-trip journey from the company’s offices in Bozeman. Comp

ute the cost of this job using the activity-based costing system. (Round your intermediate calculations and final answer to 2 decimal places.)

The revenue from the Flying N Ranch was $44.10 (2 hundred square feet @ $22.05 per hundred square feet). Calculate the customer margin earned on this job. (Round your intermediate calculations and final answers to 2 decimal places.)

Bernard Associates conducted a survey in March 2004 of 1021 workers who held white-collar jobs and had changed jobs in the previous twelve months. Of these workers, 46% of the men and 37% of the women were paid more for their positions when they changed jobs. Suppose that these percentages are based on random samples of 510 mean 511 woman white-collar workers.

Construct a 95% confidence interval for the difference between the two population proportions.

Using a 1% significance level can you conclude that the two populations are different?