1. Rolling doubles When rolling two fair, 6-sided dice, the probability of rolling doubles is 1/6. Suppose Elias rolls the dice 4 times. Let W = the number of times he rolls doubles. The probability distribution of W is shown here. Find the probability that Elias rolls doubles more than twice.

Events:

1. Recognition of revenue on account.

2. Collection of cash from accounts receivable.

3. Write-off of uncollectible accounts.

4. Recognition of uncollectible accounts expense through a year-end adjusting entry.

Identify the following for Events 1-4:

A. The impact on the accounting equation

B. If and how it affects net income

C. If and how it affects cash

With your answers, please explain your reasoning and how you solved the problem.

1) For each of the following functions, find all the minimum SOP expressions using the Karnaugh map.

a) f(a,b,c) = Σm(0,1,5,6,7) (2 solutions)

b) g(v,x,y,z,w)= Σm(0,1,4,5,8,9,10,15,16,18,19,20,24,26,28,31) (1 solution)

c) h(a,b,c,d) = Σm(01,2,5,7,9)+Σd(6,8,11,13,14,15) (4 solutions)

d) f(a,b,c,d) = Σm(5,7,9,11,13,14)+Σd(2,6,10,12,15) (4 solutions)

For one purpose, the utility function of the consumer is u(x,y)=4?x+2y for maximum utility.

1. For one purpose, the customer's income is I, and the price of X is Px and the price of Y is Py. Obtain the demand function of this person's Y ash through Px, Py, I.

2. For one purpose, the consumer has an income I = 40, and initially the price of Px=1, and the price is Py=1.

(1) What is the difference between the marginal utility of X ash and the marginal utility of Y ash at the maximum utility?

(2) What is the maximum utility level?

(3) When income is increased from 40 to 80, what is the income elasticity of the demand for X ash?

(4) (While the price of Income 40 and Y ash remains at 1) When the price of X ash falls from 1 to 0.8, find the difference between the maximum utility consumed by price effects and the change in consumption by income effects.

QUESTION 1

1. Which of the following is an enzyme?

   		a G protein
   		a G protein-coupled receptor
   		ATP
   		All of the above
   		None of the above

1 points   

QUESTION 2

1. Which of the following is true for all enzymes?

   		They alter the transition state.
   		They decrease ΔG.
   		They provide energy for endergonic reactions.
   		They harness energy from ATP.

1 points   

QUESTION 3

1. The pathway of glycolysis can be found in:

   		Anaerobic bacteria only
   		Anaerobic species only
   		All bacteria, but not Eukaryotes
   		All species

1 points   

QUESTION 4

1. Which of the following best explains why aerobic metabolism is "better" than anaerobic metabolism?

   		It produces water
   		It produces CO2.
   		It produces more ATP for every molecule of glucose oxidized.
   		It doesn't require glucose.

1 points   

QUESTION 5

1. The Citric Acid Cycle nets _____ molecule(s) of ATP per molecule of glucose (assume GTP and ATP are interchangeable).

   		1
   		2
   		3
   		4

An investor purchases a cap on 7/1/20 for an initial premium of 1.65% of the notional amount. The terms of the cap include the following:

1) The notional amount is $250,000,000

2)The reference rate is 3-month LIBOR

3) The maturity of the contact is 1 year

4) Cap payments are made quarterly

5) The strike price is 2.45%

6) The payment is based on actual/360 day count

LIBOR for the 10/1/20, 1/1/21, 4/1/21, and 7/1/21 LIBOR reset dates is 1.7575%, 2.2825%, 2.7175%, and 3.1250%, respectively.

a) What is the amount of the initial premium payment? Which party pays? What is the amount of each cap payment? Which party pays?

Question 2-7 are based on the following series of futures price (F(0), F(1),... F(6)):

Day 0: F(0)=$212

Day 1: F(1)=$211

Day 2: F(2)=$214

Day 3: F(3)=$209

Day 4: F(4)=$210

Day 5: F(5)=$202

Day 6: F(6)=$200

Suppose you are going to long 20 contracts. The initial margin=$10 per contract, and the maintenance margin is $2.

First Question from the set of information: how much do you need to deposit in the trading account at Day 0?

Using the same set of information from Question 2,  what is the ending balance in Day 1?

Using the same set of information from Question 2, figure out what is the first day, on which, you receive margin call and need to put extra money into the trading account?

Using the same set of information from Question 2, answering what is the additional fund that needs to put into account on Day 6?

Using the same set of information from Question 2, answering what is the ending balance at Day 6?

Using the same set of information from Question 2, answering which day has the largest gain among the 6 days?

Question 2-7 are based on the following series of futures price (F(0), F(1),... F(6)):

Day 0: F(0)=$212

Day 1: F(1)=$211

Day 2: F(2)=$214

Day 3: F(3)=$209

Day 4: F(4)=$210

Day 5: F(5)=$202

Day 6: F(6)=$200

Suppose you are going to long 20 contracts. The initial margin=$10 per contract, and the maintenance margin is $2.

Questions:

How much do you need to deposit in the trading account at Day 0?

Using the same set of information from Question 2, what is the ending balance in Day 1?

Using the same set of information from Question 2, figure out what is the first day, on which, you receive margin call and need to put extra money into the trading account?

Using the same set of information from Question 2, answering what is the additional fund that needs to put into account on Day 6?

Using the same set of information from Question 2, answering what is the ending balance at Day 6?

Using the same set of information from Question 2, answering which day has the largest gain among the 6 days?

Hudson, Inc. uses a job order cost system and applies overhead to production on the basis of direct labor costs. On January 1, 2018, Job #1 had been previously completed at a cost of $20,000 and was in Finished Goods Inventory. On January 1, 2018, Job #2 was the only job in process. The costs incurred on Job #2 during December 2017 were as follows: Direct Materials of $5,000, Direct Labor of $3,000 and Manufacturing Overhead of $6,000. There was no balance in Raw Materials at the beginning of January.

During the month of January, the company finished job #2 and began production on jobs #3 and #4. Job #3 was finished during January, but job #4 was still unfinished at the end of January.

Sales: during January, Job #1 was sold for $28,000 and Job #2 was sold for $42,000 to two different customers.

The following additional events occurred during January.

Purchased Raw Materials for $25,000, on account.

Incurred Factory Labor Costs of $16,000. Of this amount, $4,000 related to Employer Payroll Taxes.

Incurred Manufacturing Overhead Costs as follows: indirect materials $3,000, indirect labor $6,000, depreciation expense $3,000 and various other Manufacturing Overhead Costs on account $6,000.

Assigned Direct Materials and Direct Labor to Jobs as follows:

Instructions:

Calculate the predetermined overhead rate for 2018, assuming LL, Inc. estimates total manufacturing overhead costs of $150,000 and total direct labor costs of $100,000.

Attached are job cost sheets for jobs 1, 2, 3 and 4. Enter the January 1 balances for job #2.

Prepare the journal entries to record the purchase of the raw materials, the factory labor costs incurred and the manufacturing overhead costs incurred during January.

Prepare the journal entries to record the assignment of Direct Materials, Direct Labor and Manufacturing Overhead to Work in Process. Post all costs to the job cost sheets as necessary.

Total the job cost sheets for the jobs completed in January (jobs 2 and 3).

Prepare the journal entries to move jobs 2 and 3 into Finished Goods Inventory.

Prepare the journal entries to sell job #1 for $28,000 and job #2 for $42,000, both on account to different customers.

What is the balance in the Work in Process Inventory account? What does that balance consist of?

What is the amount of over- or underapplied overhead?

Following table is the data of past dividend payments.



　 dividend (in millions)
2012 $1.00
2013 $1.50
2014 $2.00
2015 $2.35
2016 $3.15
2017 $4.00
2018 $4.65
2019 $5.25
2020 $5.96


Using the past dividend data, you will forecast the future growth rate.

The most recent dividend paid by New Technologies was an annual dividend of $5.96 million in total and there are 20 million shares outstanding .

Assume T-bill rate is 3%, S&P500 market return is 7%, beta of New Technologies is 0.88.



#1. What is the appropriate discount rate (required rate of return)?

#2. You forecast that future dividends will grow for 3 years at the geometric average of historical dividend growth rate using the data given. What is the geometric average of historical dividend growth rate?

#3. You assume that dividends for the next 3 years will be increased at the rate you just calculated from #2. After that, you assume dividends are expected to increase by 4% each year forever. What should be today’s stock price per share?

#4. If the H-model is applied to the above question, at what rate should the growth rate decline each year to reach the constant growth rate of 4%?

#5. Using the H-model, what should be the stock price per share today?




#1. k = 5.54%


#1. k = 6.52%


#1. k = 9.24%


#2. geometric avg growth rate = approx. 25%


#2. geometric avg growth rate = approx. 21%


#2. geometric avg growth rate = approx. 28%


#3. approx. $15.50 per share


#3. approx. $40.30 per share


#3. approx. $21.10 per share


#4. each year it should decline by 5% per year


#4. each year it should decline by 7% per year


#4. each year it should decline by 9% per year


#5. approx. $17.80 per share


#5. approx. $20.90 per share


#5. approx. $15.20 per share