3. Use data in BUSI1013 Credit Card Balance.xlsx to complete the following. You will need to use a statistical package such as StatTools or the Regression program within Excel’s Data Analysis Add-in to generate the estimated regression equation and the ANOVA etc. (12 points)
   
   1. What is the estimated regression equation using Account Balance as the dependent variable, and Income, Years of Education, as well as Size of Household as the independent variable?
   2. Comment on the goodness of fit of the model using the coefficient of determination.
   3. Conduct an F test with the critical value approach to see whether the overall model is significant. Use α = 0.01.
   4. Perform a t test with p-value approach for the significance of the Income variable. Use α = 0.05.
   5. Perform a t test with the p-value approach for the significance of the Size of Household variable. Use α = 0.05.
   6. Estimate the Account Balance of a customer who has an income of $62 thousand, 14 years of education, and a household size of 3.

1. Use data in BUSI1013 Credit Card Balance.xlsx to complete the following. You will need to use a statistical package such as StatTools or the Regression program within Excel’s Data Analysis Add-in to generate the estimated regression equation and the ANOVA etc. (12 points)
   What is the estimated regression equation using Account Balance as the dependent variable, and Income, Years of Education, as well as Size of Household as the independent variable?
2. a.Comment on the goodness of fit of the model using the coefficient of determination.
3. b.Conduct an F test with the critical value approach to see whether the overall model is significant. Use α = 0.01.
4. c.Perform a t test with p-value approach for the significance of the Income variable. Use α = 0.05.
5. d.Perform a t test with the p-value approach for the significance of the Size of Household variable. Use α = 0.05.
6. e.Estimate the Account Balance of a customer who has an income of $62 thousand, 14 years of education, and a household size of 3.

All of the following industry types have market power except

A) monopolistic competition.
B) perfect competition.
C) monopoly.

D) oligopoly.

CCC Computer Company has a monopoly on the sale of a specialized color printer. If it sells two of these printers its total revenue is $1,000, and if it sells three color printers its total revenue is $1,200. The marginal revenue of the third color printer sold is
A) equal to the price

B) $400
C) less than its price
D) higher than the price

For a monopoly, the marginal revenue curve has one point in common with the firm's linear demand curve, which is ___________
A) y - intercept
B) no point in common

C) x - intercept
D) Indeterminate from the given information

When a monopolist sells two units of output its total revenue is $600. When a monopolist sells three units of output its total revenue is $630. The marginal revenue of the second unit is _____ A) Indeterminate from the given information
B) $230.

C) $310.

D) $630.

When a monopolist sells two units of output its total revenue is $600. When a monopolist sells three units of output its total revenue is $660. In order to sell three units of output instead of only two, the monopolist must
A) increase its price by $30 per unit.

B) decrease its price by $80 per unit.
C) make no change in price and increase output by one unit.

D) decrease its price by $30 per unit.

College Coasters is a San Diego–based merchandiser specializing in logo-adorned drink coasters. The company reported the following balances in its unadjusted trial balance at December 1.

The company buys coasters from one supplier. All amounts in Accounts Payable on December 1 are owed to that supplier. The inventory on December 1 consisted of 1,000 coasters, all of which were purchased in a batch on July 10 at a unit cost of $0.50. College Coasters records its inventory using perpetual inventory accounts and the FIFO cost flow method.

During December, the company entered into the following transactions. Some of these transactions are explained in greater detail below.

1. Purchased 500 coasters on account from the regular supplier on 12/1 at a unit cost of $0.52, with terms of n/60.
2. Purchased 1,000 coasters on account from the regular supplier on 12/2 at a unit cost of $0.55, with terms of n/60.
3. Sold 2,000 coasters on account on 12/3 at a unit price of $0.90.
4. Collected $1,000 from customers on account on 12/4.
5. Paid the supplier $1,600 cash on account on 12/18.
6. Paid employees $500 on 12/23, of which $300 related to work done in November and $200 was for wages up to December 22.
7. Loaded 100 coasters on a cargo ship on 12/31 to be delivered the following week to a customer in Kona, Hawaii. The sale was made FOB destination with terms of n/60.

Other relevant information includes the following at 12/31:

8. College Coasters has not yet recorded $200 of office expenses incurred in December on account.
9. The company estimates that the equipment depreciates at a rate of $10 per month. One month of depreciation needs to be recorded.
10. Wages for the period from December 23–31 are $100 and will be paid on January 15.
11. The $600 of Prepaid Rent relates to a six-month period ending on May 31 of next year.
12. The company incurred $789 of income tax but has made no tax payments this year.
13. No shrinkage or damage was discovered when the inventory was counted on December 31.
14. The company did not declare dividends and there were no transactions involving common stock.

What are the journal entries for a-n?

Splish, Inc. began work on a $6,312,000 contract in 2020 to construct an office building. During 2020, Splish, Inc. incurred costs of $1,589,940, billed its customers for $1,156,000, and collected $894,000. At December 31, 2020, the estimated additional costs to complete the project total $3,228,060.

Prepare Splish’s 2020 journal entries using the percentage-of-completion method. (Credit account titles are automatically indented when amount is entered. Do not indent manually. For costs incurred use account Materials, Cash, Payables. If no entry is required, select "No entry" for the account titles and enter 0 for the amounts.)

Crane, Inc. began work on a $7,016,000 contract in 2020 to construct an office building. During 2020, Crane, Inc. incurred costs of $1,798,560, billed its customers for $1,125,000, and collected $910,000. At December 31, 2020, the estimated additional costs to complete the project total $3,197,440.

Prepare Crane’s 2020 journal entries using the percentage-of-completion method. (Credit account titles are automatically indented when amount is entered. Do not indent manually. For costs incurred use account Materials, Cash, Payables. If no entry is required, select "No entry" for the account titles and enter 0 for the amounts.)

Stellar, Inc. began work on a $6,491,000 contract in 2020 to construct an office building. During 2020, Stellar, Inc. incurred costs of $1,941,020, billed its customers for $1,138,000, and collected $904,000. At December 31, 2020, the estimated additional costs to complete the project total $3,304,980.

Prepare Stellar’s 2020 journal entries using the percentage-of-completion method. (Credit account titles are automatically indented when amount is entered. Do not indent manually. For costs incurred use account Materials, Cash, Payables. If no entry is required, select "No entry" for the account titles and enter 0 for the amounts.)

How to put merchandise inventory in T accounts

The following amounts summarize Transeer Company’s merchandising activities during 2020. Post the activities in the following T-accounts and calculate the account balances. Assume that the company uses perpetual inventory system.

IMPORTANT NOTE*****Read the following scenario, and write one or two paragraphs to answer each of the sub-questions below:

Consider a small, but growing, company that distributes kitchen supplies. The customers are primarily small retailers such as kitchen specialty stores, hardware stores, and other types of home retail stores. Managers currently keep track of all customers, orders, and inventory information using a spreadsheet.

a. If a TPS was set up to automate the order entry and inventory system, provide two examples of reports that could be produced at the Managerial Level, and one example of a report that could be produced at the Strategic Level. Explain and describe the reports.

Peter Gitman is the Senior Relationship Manager at the ABC Wealth Management Company which provides financial planning advisory to high net worth customers. One of his customers Linda Scott told him that she is thinking of giving approximately HKD500,000 to charity to reduce her income taxes. Peter is also the member of the executive committee of the ‘Lovely Home for Seniors’, a charity organization providing services to the elders. The organization is planning its fundraising activity for the year. Peter recommends that the President of the ‘Lovely Home for Seniors’ call on Linda and ask for a donation in similar range.

Comment the action taken by Peter Gitman according to the professional and ethical standards.