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.

The local news provided poll results from 2000 adults who interview job applicants. The results showed that 35% of the adults said their biggest issue with interviewers is them not knowing company history. The margin of error was given as +/- 4 percentage points. Answer the following questions:
a. What important piece of information was omitted from the statement above?
b. What is meant by the statement that "the margin of error is +/- 4 percentage points"?
c. What are the values of?
d. If the confidence level is 95%, what is the value of?

In a poll of 555 randomly selected students, 40% stated that they enjoyed statistics. Answer the following questions:
a. Identify the number of students who say that they enjoy statistics? Round to the nearest whole student if necessary.
b. Construct a 95% confidence interval estimate of the percentage of all students who say that they enjoy statsitics.
c. Can we safely conclude that majority of students enjoy statistics? Explain.

The following information provided below shows the output from the results of performing a confidence interval for a population mean. Answer the following questions:
Confidence Interval:

a. Identify the best point estimate of
b. Find the degrees of freedom.
c. Find the critical value that corresponds to n = 40.

The cholesterol levels of 40 women were sampled and a 95% confidence interval estimate was obtained below. The units of measurement for the interval below are
917.562 < < 2254.129
a. Identify the confidence interval. Include the appropriate units of measure.
b. Write a statement that correctly interprets the confidence intervale estimate of σ.

You want to estimate the mean amount of time college students spend on the Internet each month. How many college students must you survey to be 95% confident that your sample mean is within 15 minutes of the population mean? Assume that the standard deviation of the population of monthly time spent on the Internet is 210 minutes.

Three firms carry inventories that differ in size. Firm A’s inventory contains 2000 itemns, firm B’s inventory contains 5,000 items, and firm C’s inventory contains 10,000 items. The population standard deviation for the cost of the items in each firms’ inventory is 144, A statistical consultant recommends that each firm take a sample of 150 items from its inventory to provide statistically valid estimates of the average cost per item.

1. Using the finite population correction factor if needed, compute the standard error for each of the three firms given a sample of size 150. (round to 2 decimal points)

Falcor. Falcor is the U.S.-based automotive parts supplier which was spun-off from General Motors in 2000. With annual sales of over $26 billion, the company has expanded its markets far beyond the traditional automobile manufacturers in the pursuit of a more diversified sales base. As part of the general diversification effort, the company wishes to diversify the currency of denomination of its debt portfolio as well. Assume Falcor enters into a $50 million 7-year cross currency interest rate swap to do just that – pay euro and receive dollars. Using the data in Exhibit 8.12, solve the following:

a. Calculate all principal and interest payments in both currencies for the life of the swap.

b. Assume that three years later Falcor decides to unwind the swap agreement. If 4-year fixed rates of interest in euros have now risen to 5.35% and 4-year fixed rate dollars have fallen to 4.40%, and the current spot exchange rate of $1.02/€, what is the net present value of the swap agreement? Explain the payment obligations of the two parties precisely?

U2 is a famous band with studio albums that span the 1980’s, 1990’s, and 2000’s.  Suppose you have a friend who has not heard of this band but wants to become familiar with their music. Here is a summary of their studio album recordings:

Year Released            Album Name                                                                   Number of Songs

1980                            Boy                                                                                    11

1981                            October                                                                             11

1983                            War                                                                                   10

1984                            Unforgettable Fire                                                             10

1987                            The Joshua Tree                                                                11

1988                            Rattle and Hum                                                                 17

1991                            Achtung Baby                                                                   12

1993                            Zooropa                                                                             10

1997                            Pop                                                                                    12

2000                            All That You Can't Leave Behind                                     11

2004                            How to Dismantle an Atomic Bomb                                11

2009                            No Line on the Horizon                                                    11

2014                            Songs of Innocence                                                           11

                                    TOTAL                                                                            148

Suppose your friend does not have time to listen to every track on their albums, and instead wants to take a sample of their songs to listen to in order to familiarize himself with the music.

Your friend decides he has time to listen to about 40 songs (give or take a few as needed) and wants those songs to be representative of the group’s music.

1. Suppose your friend created an online poll and asked people to name their favorite U2 song, and he listened to the 40 songs that got the most votes.  What do you think of this approach in this situation?  Explain.

2. Explain briefly how your friend could choose a simple random sample of 40 songs from U2.

3. Suppose your friend is concerned with the possibility of the simple random sample choosing too many songs from one era of the band (and therefore not giving a good representation of their music overall).   What sampling approach would you recommend for him now?  Explain briefly.

4. Suppose your friend believes strongly that you have to listen to an entire album to really get the sense of the band’s music, because “each album is like its own story”.  What sampling method would you suggest to your friend now?   Explain a few specifics of how your friend could conduct this approach.

5. Which approach in parts (a) through (d) would you recommend overall?  Explain your choice.

Hello:

Please explain one major global financial crisis that occurred after the year 2000. Please do not explain the U.S. Housing Crisis of 2007 or the Russian Crisis of 2014. I have a lot of information on these two crisis already. Please I have some information but not enough. Please explain the strengths and weaknesses and the root cause of this financial crisis.

Please list a reference for this financial crisis.

Thank you,

Judy M. Robinson

(a) Create a sampling distribution for the sample mean using sample sizes n=2. Take N=2000 repeated sample sizes of 2, and observe the histogram of the sample means. What shape does this sampling distribution have?

The sampling distribution is normal

The sampling distribution is triangular

The sampling distribution is skewed right

The sampling distribution is uniform

(b) Now take N = 2000 repeated samples of size 8. Explain how the variability and the shape of the sampling distribution changes as n increases from 2 to 8.

The sampling distribution is more uniform, and the variability is smaller

The sampling distribution is more uniform, and the variability is larger

The sampling distribution is more normal, and the variability is larger

The sampling distribution is more normal, and the variability is smaller

(c) Now take N= 2000 repeated samples of size 25. Explain how the variability and the shape of the sampling distribution changes as n increases from 2 to 25.

The sampling distribution is more normal, and the variability is much smaller

The sampling distribution is more uniform, and the variability is much smaller

The sampling distribution is more normal, and the variability is much larger

The sampling distribution is more uniform, and the variability is much larger

(d) Compare the results from parts a through c to the displayed example curves.

The distribution from Q1 matches the displayed curve for n=30​, but the distributions in Q1 and Q3 are more uniform than the displayed curves.

The distribution from Q1 matches the displayed curve for n=2, but the distributions in Q2 and Q3 are more uniform than the displayed curves.

The distributions from parts Q1through Q3 go in reverse order from the displayed curves.

The distributions from Q1 through Q3 roughly match the displayed curves.

(e) Explain how the central limit theorem describes what has been observed in this problem.

The sampling distribution of the mean became more and more normal as the sample size decreased from 30 to 8 to 2​, which the central limit theorem says should happen.

The sampling distribution of the mean became more and more uniform as the sample size decreased from 30 to 8 to 2​, which the central limit theorem says should happen.

The sampling distribution of the mean became more and more uniform as the sample size increased from 2 to 8 to 30​, which the central limit theorem says should happen.

The sampling distribution of the mean became more and more normal as the sample size increased from 2 to 8 to 30​, which the central limit theorem says should happen.

The options below the questions are my choices.