During the presidential debate in 1990, the candidate Arnold (Democratic) won 22 states and Joseph (Republican) won 26 states. We are given that the states mean/average for Arnold came out to be 13.545 of the votes with a standard deviation of 10.591. On the contrary, Joseph had an average/mean of 8.423 of the votes with a standard deviation of 6.777. Please compute a 99% Conf. Interval for # of votes in a state a Democratic wins minus the # in a state a Republican wins.
In: Statistics and Probability
Why was transformation, a mechanism for horizontal gene transfer (HGT), used which explains how Neisseria gonorrhoeae acquired human DNA? Why was conjugation and transduction not used for this HGT?
In: Biology
Explain the method generally used to allocate the cost of a lump-sum purchase to the individual assets acquired. please answer in your own words, do not use the outside resources.
In: Accounting
Building on the knowledge acquired, discuss practical
engineering design and why engineering for the developing world
matters.
discuss practical engineering design and why engineering for the developing world matters.
In: Electrical Engineering
Jen and Larry’s Frozen Yogurt Company
In 2019, Jennifer (Jen) Liu and Larry Mestas founded Jean and Larry’s Frozen Yogurt Company, which was based on the idea of applying the microbrew or microbatch strategy to the production and sale of frozen yogurt. Jen and Larry began producing small quantities of unique flavors and blends in limited editions. Revenues were $600,000 in 2019 and were estimated to be $1.2 million in 2020.
Because Jen and Larry were selling premium frozen yogurt containing premium ingredients, each small cup of yogurt sold for $3, and the cost of producing the frozen yogurt averaged $1.50 per cup. Administrative expenses, including Jen and Larry’s salary and expenses for an accountant and two other administrative staff, were estimated at $180,000 in 2020. Marketing expenses, largely in the form of behind-the-counter workers, in-store posters, and advertising in local newspapers, were projected to be $200,000 in 2020.
An investment in bricks and mortar was necessary to make and sell the yogurt. Initial specialty equipment and the renovation of an old warehouse building in lower downtown (known as LoDo) occurred at the beginning of 2019. Additional equipment needed to make the amount of yogurt forecasted to be sold in 2020 was purchased at the beginning of 2020. As a result, depreciation expenses were expected to be $50,000 in 2020. Interest expenses were estimated at $15,000 in 2020. The average tax rate was expected to be 25% of taxable income.
Calculate the EBDAT breakeven point for 2020 in terms of survival revenues for Jen and Larry’s Frozen Yogurt Company. How many cups of frozen yogurt would have to be sold to reach EBDAT breakeven?
Show what would happen to the EBDAT breakeven point in terms of survival revenues if the cost of producing a cup of yogurt increased to $1.60 but the selling price remained at $3.00 per cup. How would the EBDAT breakeven change if production costs declined to $1.40 per cup when the yogurt selling price remained at $3.00 per cup?
In: Finance
CHAPTER 18
ALLIED TESTING COMPANY MANUFACTURES AND SELLS THERMOMETERS THAT DETECT BODY TEMPERATURE. IT IS EXPECTING AN INCREASE IN SALES DUE TO THE CORONAVIRUS PANDEMIC. ALLIED HAS APPLIED FOR A LOAN TO FUND EXPANSION AND THE BANK IS REQUIRING FINANCIAL INFORMATION.
2020 ACTIVITY
NET REVENUE FOR THE YEAR $2,700,000
SELLING EXPENSES $ 200,000
ADMINISTRATIVE EXPENSES $ 110,000
BEGINNING FINISHED GOODS INVENTORY $ 40,000
ENDING FINISHED GOODS INVENTORY $ 60,000
BEGINNING WORK IN PROCESS INVENTORY $ 20,000
ENDING WORK IN PROCESS INVENTORY $ 100,000
BEGINNING DIRECT MATERIALS $ 250,000
DIRECT MATERIALS PURCHASED DURING MONTH $ 740,000
ENDING DIRECT MATERIALS $ 80,000
DIRECT LABOR FOR THE MONTH $ 220,000
PLANT UTILITIES FOR THE MONTH $ 27,000
PLANT INSURANCE FOR THE MONTH $ 19,000
PLANT MAINTENANCE FOR THE MONTH $ 30,000
PLANT DEPRECIATION FOR THE MONTH $ 24,000
REQUIRED:
CHAPTER 18
ALLIED TESTING COMPANY MANUFACTURES AND SELLS THERMOMETERS THAT DETECT BODY TEMPERATURE. IT IS EXPECTING AN INCREASE IN SALES DUE TO THE CORONAVIRUS PANDEMIC. ALLIED HAS APPLIED FOR A LOAN TO FUND EXPANSION AND THE BANK IS REQUIRING FINANCIAL INFORMATION.
2020 ACTIVITY
NET REVENUE FOR THE YEAR $2,700,000
SELLING EXPENSES $ 200,000
ADMINISTRATIVE EXPENSES $ 110,000
BEGINNING FINISHED GOODS INVENTORY $ 40,000
ENDING FINISHED GOODS INVENTORY $ 60,000
BEGINNING WORK IN PROCESS INVENTORY $ 20,000
ENDING WORK IN PROCESS INVENTORY $ 100,000
BEGINNING DIRECT MATERIALS $ 250,000
DIRECT MATERIALS PURCHASED DURING MONTH $ 740,000
ENDING DIRECT MATERIALS $ 80,000
DIRECT LABOR FOR THE MONTH $ 220,000
PLANT UTILITIES FOR THE MONTH $ 27,000
PLANT INSURANCE FOR THE MONTH $ 19,000
PLANT MAINTENANCE FOR THE MONTH $ 30,000
PLANT DEPRECIATION FOR THE MONTH $ 24,000
REQUIRED:
In: Accounting
Answer for 8 and 9
On October 15, 2016, Koala, Inc. issued a 10 year bond (with a typical $1000 face value) that had an annual coupon value of $60. [We are assuming that the 2020 coupon has just been redeemed.]
1. What was the nominal yield on this bond on October 15, 2016? 6% [To 1 decimal place.]
2. What was the current yield on this bond on October 15, 2016?5.36% [To 2 decimal places.]
3. What was the yield to maturity for this bond on October 15, 2016? 5.679% [To 3 decimal places.]
4. What was the risk premium for this bond on October 15, 2016? 1.179% [To 3 decimal places.]
5. What was the nominal yield on this bond on October 15, 2020?6% [To 1 decimal place.]
6. What was the current yield on this bond on October 15, 2020?6.15% [To 2 decimal place.]
7. What was the yield to maturity for this bond on October 15, 2020?6.346% [To 3 decimal places.]
8. What was the risk premium for this bond on October 15, 2020? [To 3 decimal places.]
9. It is now October 15, 2020 and suddenly the Federal Reserve announces a massive program to reduce inflation. Instantly, the market rate of interest for a riskless corporate bond that would apply to this bond, falls from 4.0% to 2.5%. If there is no change in the risk premium expected for this Koala, Inc. bond, what will be this bond’s yield to maturity? [To 3 decimal places.]
In: Finance
| 1. | On January 1, 2020, Riverbed signed an agreement to operate as a franchisee of Copy Service Inc., for an initial franchise fee of $75,000. Of this amount, $35,000 was paid when the agreement was signed and the balance is payable in four annual payments of $10,000 each, beginning January 1, 2022. The agreement provides that the down payment is not refundable and no future services are required of the franchisor. The present value at January 1, 2020, of the four annual payments discounted at 7% (the implicit rate for a loan of this type) is $33,872. The agreement also provides that 5% of the franchisee’s revenue must be paid to the franchisor each year. The franchisor requires that Riverbed provide it with some form of assurance verifying the revenue amount used to determine the 5% payment. Riverbed’s revenue from the franchise for 2020 was $760,000. Riverbed estimates that the franchise’s useful life will be 10 years. | |
| 2. | Riverbed incurred $45,000 in experimental costs in its laboratory to develop a patent, and the patent was granted on January 2, 2020. Legal fees and other costs of patent registration totalled $13,600. Riverbed estimates that the useful life of the patent will be 6 years. | |
| 3. | A trademark was purchased from Shanghai Company for $28,700 on July 1, 2017. The legal costs to successfully defend the trademark totalled $8,160 and were paid on July 1, 2020. Riverbed estimates that the trademark’s useful life will be 14 years from the acquisition date. |
Assume that Riverbed reports using ASPE. Prepare a schedule showing the intangible assets section of Riverbed’s statement of financial position at December 31, 2020. (Round answers to 0 decimal places, e.g. 5,275. Enter account name only and do not provide descriptive information.)
| Riverbed Corporation Intangible Assets December 31, 2020 |
||
| $ | ||
| Total Intangible Assets | $ | |
Compute the total amount of expenses resulting from the transactions that would appear on Riverbed’s income statement for the year ended December 31, 2020.
In: Accounting
Part C Question 3 Accounting for Income Taxes
Reed Ltd is a manufacturer of surfboards which commenced operations on 1 July 2019. The Statement of Comprehensive Income and the Statement of Financial Position were compiled on 30 June 2020. The following information was available:
Statement of Comprehensive Income for the year ended 30 June 2020
$ $
|
Sales |
430,000 |
||
|
Less |
|||
|
Cost of Goods Sold |
130,000 |
||
|
Administrative expense |
70,000 |
||
|
Warranty expense |
60,000 |
||
|
Depreciation- machine |
40,000 |
||
|
Insurance expense |
20,000 |
320,000 |
|
|
Profit before income tax |
110,000 |
||
Following information was extracted from the Statement of Financial Position at 30 June 2020:
|
2019 |
2020 |
|
|
Prepaid insurance |
24,000 |
36,000 |
|
Machine |
400,000 |
400,000 |
|
Less: Accumulated depreciation |
40,000 |
80,000 |
|
Provision for warranty |
34,000 |
28,000 |
Other information was available for the year ended 30 June 2020:
Required: (Narrations are not required in this question)
In: Accounting
Question 3 Accounting for Income Taxes
Reed Ltd is a manufacturer of surfboards which commenced operations on 1 July 2019. The Statement of Comprehensive Income and the Statement of Financial Position were compiled on 30 June 2020. The following information was available:
Statement of Comprehensive Income for the year ended 30 June 2020
$ $
|
Sales |
430,000 |
||
|
Less |
|||
|
Cost of Goods Sold |
130,000 |
||
|
Administrative expense |
70,000 |
||
|
Warranty expense |
60,000 |
||
|
Depreciation- machine |
40,000 |
||
|
Insurance expense |
20,000 |
320,000 |
|
|
Profit before income tax |
110,000 |
||
Following information was extracted from the Statement of Financial Position at 30 June 2020:
|
2019 |
2020 |
|
|
Prepaid insurance |
24,000 |
36,000 |
|
Machine |
400,000 |
400,000 |
|
Less: Accumulated depreciation |
40,000 |
80,000 |
|
Provision for warranty |
34,000 |
28,000 |
Other information was available for the year ended 30 June 2020:
Required: (Narrations are not required in this question)
In: Accounting