Question 7. A number of studies have focused on the question of whether children born to smoker women differ physiologically from children born to non-smokers. The paper "Placental Transfer of Lead, Mercury, Cadmium, and Carbon Monoxide in Women" (Environ. Research (1978): 494-503) reported on results from one such investigation. They measured the blood-lead concentration (mg/l) for new-born babies of smoker and non-smoker mothers. The summary statistics from this study are shown in the table below:

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Group                           Sample Size                  Sample Mean                Sample Standard Deviation

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Smoker Mothers                       40                                8.6                               3.3

Non-smoker Mothers                60                                8.1                               3.5

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Do the data provide convincing evidence that the true mean blood-lead concentration for smoker’s new-born children exceeds those of born to non-smokers? ? Test at 5% level of significance using the following steps.

[1 mark] (a)      Null Hypothesis H₀ :  

Alternative Hypothesis H_a :

[3 marks] (b) Compute the test-statistic

[2 mark] (c) Find the approximate P-value. What is your decision about the null hypothesis?

[1 mark] (d) State your conclusion in simple language

In India, roughly 68.84% of the population live in areas that are roughly designated as rural. In addition, only 67% of the rural population have access to the grid while 94% of the non-rural population have access to power grid.

(a) What is the probability that anybody has access to the grid? Show evidence.

(b) What is the probability that a person lives either in a non-rural area, or has access to the grid or both? Show evidence.

(c) Are the events ‘non-rural’ and ‘access to the grid’ collectively exhaustive? Show evidence.

(d) The event ‘no access to the grid rural population’ is the complement of the event ‘non-rural access to the grid’.   T / F Show evidence.

(e) The problem claims that 67% of the rural population has access to the power grid. If a sample of 10 rural families are selected to receive free computers for their children to use for school-work, what is the probability that 8 families can connect to the grid?

(f) On average, load shedding (losing power) occurs 1 time in a period of 24 hours for people on the grid in a rural area. What is the probability that they will not lose power even once in the next hour while the kids must complete their homework using internet resources?

Peppermint Ltd went into voluntary liquidation on 30 June 2020. A statement of financial position prepared at that date was as follows:

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Peppermint Ltd

Statement of Financial Position as at 30 June 2020

Current Assets

Cash                                                                                                                         $11,000

Inventories                                                                                                                 85,700

Total Current Assets                                                                                               96,700

Non-current Assets

Equipment                                                                                                               142,800

Land and Buildings                                                                                                   70,000

Total Non-current Assets                                                                                      212,800

Total Assets                                                                                                            309,500

Current Liabilities

Accounts Payable                                                                                                      40,000

Total Current Liabilities                                                                                         40,000

Non-current Liabilities

Mortgage (secured over Land and Buildings)                                                           80,000

Total Non-current Liabilities                                                                                 80,000

Total Liabilities                                                                                                      120,000

Net Assets                                                                                                             $189,500

Equity

300,000 ordinary shares issued for $1 each, fully paid                                           300,000

Accumulated Losses                                                                                              (110,500)

Total Equity                                                                                                         $189,500

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Additional information:

(a)        The sale proceeds of assets realised the following amounts in cash:

            Inventories                                     $70,000

            Equipment                                        80,000

(b)       The mortgage holder took possession of the land and buildings and sold them for $90,000 and after settlement of the debt paid any excess funds to the liquidator.

(c)        Liquidation costs amounted to $15,000.

(d)       The liquidator paid all liabilities.

Required:

1. Prepare general journal entries to record the liquidation of Peppermint Ltd.

Answer all questions and include explanations

1) Which one of the following statements is false regarding dosage compensation?

a) all eukaryotes have the same mechanism for controlling gene expression from x-linked genes when different numbers of x chromosomes are presents.

b) Dosage compensation is also referred to as x-inactivation

c) X-linked genes in male Drosophila are expressed at twice the rate of those in female Drosophila.

d) Drosophila with a chromosomal formulation of 3X:3A is considered a female.

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3) Which one of the following statements is true regarding non-disjunction?

a) Normal haploid gametes cannot be produced when non-disjunction occurs during Meiosis II.

b) Normal haploid gametes cannot be produced when non-disjunction occurs during Meiosis I.

c)The chromosomal karyotype for an individual with Klinefelter Syndrome can be written (45,X)

d) Turner Syndrome is not caused by non-disjunction

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4) Which of the following is true regarding sex determination?

a) Phenotypic dimorphism only occurs in humans

b) Secondary sexual differentiation involves formation of gonads.

c) Hermaphroditism in organisms can be either sequential or simultaneous

d) The term heteromorphic has the same meaning as hermaphroditic.

(In python)

Write a function calc_pizza_charge that takes four integer arguments, one for the size (1 small, 2 medium, 3 large), one for the number of meat toppings, one for the number of other toppings and another for the quantity of pizzas ordered. It should calculate and return the total due for that pizza order based on the following information:

Small pizza base price: $6.50

Medium pizza base price: $9.50

Large pizza base price: $11.50

The base pizza price includes one meat and one non-meat topping.

Additional meat toppings are charged at $3.50 each.

Additional non-meat toppings are charged at $1.5 each.

Write a function get_pizza_info that gets from the user the pizza size, meat topping quantity, non-meat topping quantity and number of pizza’s ordered and calls the calc_pizza_charge method and returns the result. Write a program in problem3.py that calls get_pizza_info and prints the result formatted for currency.

Sample run: Enter pizza size (1 small, 2 medium, 3 large): 3

Enter number meat toppings: 2

Enter number or non-meat toppings: 3

Enter number of pizzas ordered: 2

Pizza Total: $36.00

Imagine that there are only two countries in the world: America and China. Each country produces and consumes two goods – a tradable good (T) and a non-tradable good (NT). The production of these goods involves the use of labour, but no other resources are used in the production process. This is of course a ridiculous assumption, but it is one we will make for the purposes of this assignment. There are perfectly competitive markets for the non-tradable good (NT) in each country, but no trade in this good between the countries. There is a perfectly competitive global market in the traded good (T). Labour is homogeneous within America. An hour of labour produces 10 units of the traded good (T) or 5 units of the non-traded good (NT) in America. Labour costs are 10 dollars (USD) an hour in America. Labour is also homogenous within China. An hour of labour produces 5 units of the traded good (T) or 5 units of the non-traded good (NT) in China. Labour costs are 10 yuan (CNY) an hour in China.

Suppose that over time the productivity per hour of labour in China in the tradable good industry increases to 10 units of T, while the other three productivity figures do not change. What will happen to the real exchange rate? (1 mark)

Cantelevellers plc’s primary financial objective is to maximize the wealth of its shareholders. The business specializes in the development and assembly of high quality television sets. It normally subcontracts manufacture of the components of each set, carrying out the final assembly itself.

Recently the business has developed a new TV set that has been named Flatview and a decision now needs to be taken as to whether to take it into production. The following data are available:

1. If the decision is taken to go into production with the Flatview, production and sales will start on 1 January 20X4 and end in 20X8. It is estimated that each set will be sold for £2,000. It is also estimated that the annual production and sales of Flatview televisions will be a steady 1,500 units for each of the five years.
   
2. Development and market research in relation to the Flatview were undertaken during 20X3. The cost of these total £3 million. It is the business’s policy to write off all such costs against profits as they are incurred. Of the £3 million, £1.8 million was an apportionment of development department overheads. The remaining £1.2 million was spent on materials and services, including a market survey, which were purchased specifically in respect of the Flatview project.
   
3. Assembly of the Flatview would take place in premises leased specifically for the assembly work, separate from the business’s main premises. The directors believe that suitable premises could be leased at an annual rent of £450,000, payable annually in advance.
   
4. Labor for the Flatview project is available from the business’s existing staff. If the project is not undertaken the staff involved will be declared redundant on 31 December 20X3 and paid a total of £250,000 in compensation at that time. If the project goes ahead the total incremental cost of employing the staff concerned is estimated at £200,000 per annum throughout the duration of the project. At the end of the project the staff concerned will all be made redundant, with estimated total compensation cost of £300,000 payable at that point.
   
5. Assembly of each Flatview set requires the use of a number of different bought-in components. Tenders have been obtained from the business’s normal suppliers, and the lowest total purchase cost of all of the components necessary to make one Flatview is £380. This figure includes £120 for component F451. This component is the only one of which the business already has a stock since 500 units of F451 are held in stock as the result of a surplus from a previous project. These originally cost £80 each. If the Flatview project does not proceed, the only possible use for these stock items has been identified as selling them back to the original manufacturer at a price of £100 each, with the buyer bearing transport costs. Since the manufacturer cannot use these items until the end of 20X5, delivery and payment will not take place before that time. There are no incremental storage costs involved with retaining this stock until 20X5.
   

Each Flatview set requires the use of one component F451.

6. Incremental overheads associated with the Flatview project are expected to cost £200,000 for each year of production.
   
7. Plant and machinery will have to be bought and paid for on 1 January 20X4. The total cost will be £5 million, which includes all installation costs. It is estimated that at the end of the Flatview manufacturing project (20X8) the plant will have a disposal value of £1 million.
   
8. The directors judge that the Flatview project will cost 15 percent per annum to finance.

Prepare a schedule that derives the annual net relevant cash flows arising from the Flatview project, and use this to assess the project on the basis of its net present value as at 31 December 20X3.

Ignore any factors (such as taxation) that are not referred to in the question.

Taylor Advisors Limited was organized on Jan 1, 2018. The company plans to use the following accounts:

Cash                                                    Dividends      

Accounts receivable                           Service revenue         

Supplies                                              Advertising expense

Prepaid Insurance                               Salaries Expense

Equipment                                          Interest Expense

Accounts payable                               Office Expense

Bank Loan Payable (non-current)      Rent Expense

Common shares                                  Income Tax Expense

Retained Earnings

The company had the following transactions in the month of January:

Jan. 2   Issued 1,000 common shares for $65 each.

       4   Finalized a lease for office space and paid the first month’s rent of $3,000

       5   Purchased $40,000 of equipment for $10,000 cash and financed the remainder with a long-term bank loan

      8    Paid for an advertisement in a local paper, $500

      10 Purchased supplies on account, $1,000

      11 Paid for several advertising spots on the local radio station, $3,000.

      12 Paid employees $7,500 for the first two weeks of work

      15 Summarized and recorded the billings to clients for the first two weeks of January. Billings totalled $15,000. These amounts are due by the 12^th of the next month.

      17 Paid $1,000 for office expenses.

      19 Paid annual insurance policy with coverage up to December 31, 2018, for $6,000

      24 Received $10,000 from clients in partial settlement of accounts billed on the 15^th.

      25 Declared and paid $500 of dividends to shareholders.

      26 Paid employees $7,500 for the previous two weeks of work

      29 Summarized and recorded the billings to clients for the prior two weeks. Billings totalled $18,000. These amounts are due by the 26^th of the next month.

      30 Made a payment to the bank of $2,000 for interest on the bank loan and $700 to pay on the amount owing for the bank loan.

      31 Paid Canada Revenue Agency $1,500 for an income tax instalment.

Required:

(a) Journalize the transactions

(b) Post the journal entries prepared in part (a) [Please do it on your own, no need to hand in this part. If you choose to include it in the assignment, this part will NOT be marked.]

(c) Prepare a trial balance.

(d) Prepare an income statement, statement of changes in equity, and statement of   financial position for January

OPTION #2 Lease: Non-cancelable lease agreement between Fifth-Third Leasing Company and Bob Evans Farms, a lessee

This question has been posted before with different values. However, there are several different solutions posted.

Please provide the following:

1. Prepare LEASE AMORTIZATION SCHEDULE suitable fo LESSEE for the lease term

2. Prepare JOURNAL ENTRIES for LESSEE for 2018 and 2019 - record lease agreement and all expenses relates to lease. Assume LESSEE'S annual accounting period ends on Dec 31 and reversing entries are used when appropriate.

3. Prepare JOURNAL ENTRIES for LESSOR of the transaction.

4. Analyze the specific outcomes and WRITE AN ANALYSIS directed toward the team at Fifth-Third Leasing Company describing what the numbers mean and how they relate to the business.  

Question:

1. What type of lease is this? Operating or Finance/Sales-Type? Why?

My thoughts:

--It seems to meet 2 of the 4 Finance lease criteria (lessee) - 1) term is equal to 75% or more of est. the economic life of the asset (6 yrs/8 yrs) and 2) the present value of minimum lease payments is equal to 90% or more of the fair value of the leased property to the lessor ($743,552/$800,000)

--it also seems to meet both additional Finance lease required criteria (lessor) - 1) collectibility of lease payments is predictable and 2) no important uncertainties surround unreimbursable costs yet to be incurred by the lessor under the lease

FACTS:

Inception date: January 1, 2018

Residual value of equipment at end of lease term, guaranteed by the lessee: $100,000

Lease term: 6 years

Economic life of leased equipment: 8 years

Fair value of asset at January 1, 2017: $800,000

Lessor's implicit rate: 10%

Lessee's incremental borrowing rate: 12%

The lessee assumes responsibility for all executory costs, which are expected to amount to $4,000 per year. The asset will revert to the lessor at the end of the lease term. The lessee has guaranteed the lessor a residual value of $100,000. The lessee uses the straight-line depreciation method for all equipment.