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?

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

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.

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.