A) A company that owns a large number of grocery stores claims that customers who pay by personal check spend an average of $87 with a standard deviation of $22. Assume the amount spent by these customers is normally distributed.

What is the probability that a customer using a check spends less than $90?

Express your answer as a decimal rounded to four places after the decimal point.

B)

A company that owns a large number of grocery stores claims that customers who pay by personal check spend an average of $87 with a standard deviation of $22. Assume the amount spent by these customers is normally distributed.

What is the probability that a customer using a check spends between $80 and $85?

Express your answer as a decimal rounded to four places after the decimal point.

C)

A company that owns a large number of grocery stores claims that customers who pay by personal check spend an average of $87 with a standard deviation of $22. Assume the amount spent by these customers is normally distributed.

The top 10% of customers using a check pay _____________ or more for groceries.

Round your answer to 2 decimal places.

D)

A company that owns a large number of grocery stores claims that customers who pay by personal check spend an average of $87 with a standard deviation of $22. Assume the amount spent by these customers is normally distributed.

The most frugal 20% of customers pay ___________ or less for groceries.

Round your answer to the nearest hundredth.

You want to buy a car which will cost you $10,000. You do not have sufficient funds to purchase the car. You do not expect the price of the car to change in the foreseeable future. You can either save money or borrow money to buy the car.

• Plan 1: You decide to open a bank account and start saving money. You will purchase the car when you have sufficient savings. The nominal interest rate for the bank account is 6% per annum compounded monthly.

a) You will make regular deposits in your bank account at the start of each month for the next 2.5 years. Calculate the minimum required monthly savings to be deposited into the bank such that you would have sufficient funds to purchase the car in 2.5 years. (1 mark)

b) You will make regular deposits in your bank account at the start of each week for the next 2.5 years. Calculate the minimum required weekly savings to be deposited into the bank such that you would have sufficient funds to purchase the car in 2.5 years.

c) You will make regular deposits of $2,000 at the end of each year. Calculate how long will it take for you to have sufficient funds to purchase the car. (1 mark)

• Plan 2: You decide to borrow $13,000 from the bank and purchase the car now, as well as cover some other expenses. The bank offers two options for the structure of the repayments.

- Option 1: The first repayment will not start until you graduate from university. Therefore, no month-end-instalments will be made for the first 36 months. Then, commencing at the end of the 37^th month, a total of 30 month-end-instalments of $X will be made over the life of the loan. The nominal interest rate is 6% per annum compounded monthly.

d) Calculate X. (2 mark)

e) Your parents agree to help you repay the loan by contributing a lump sum of $1,800 when you successfully graduate from university. Calculate the new value of X. (1 mark)

- Option 2: For the first 36 months (while you are still studying), you will be making month-end-instalments of $Y. Then, commencing at the end of the 37^th month (when you graduate from university), you will double the amount of monthly repayment for the remaining 30 month-end-instalments. The nominal interest rate is 6% per annum compounded monthly.

f) Calculate the value of Y.

You want to buy a car which will cost you $10,000. You do not have sufficient funds to purchase the car. You do not expect the price of the car to change in the foreseeable future. You can either save money or borrow money to buy the car. Plan 1: You decide to open a bank account and start saving money. You will purchase the car when you have sufficient savings. The nominal interest rate for the bank account is 6% per annum compounded monthly.

a) You will make regular deposits in your bank account at the start of each month for the next 2.5 years. Calculate the minimum required monthly savings to be deposited into the bank such that you would have sufficient funds to purchase the car in 2.5 years.

b) You will make regular deposits in your bank account at the start of each week for the next 2.5 years. Calculate the minimum required weekly savings to be deposited into the bank such that you would have sufficient funds to purchase the car in 2.5 years.

c) You will make regular deposits of $2,000 at the end of each year. Calculate how long will it take for you to have sufficient funds to purchase the car. (1 mark) Plan 2: You decide to borrow $13,000 from the bank and purchase the car now, as well as cover some other expenses. The bank offers two options for the structure of the repayments. - Option 1: The first repayment will not start until you graduate from university. Therefore, no month-end-instalments will be made for the first 36 months. Then, commencing at the end of the 37th month, a total of 30 month-end-instalments of $X will be made over the life of the loan. The nominal interest rate is 6% per annum compounded monthly.

d) Calculate X.

e) Your parents agree to help you repay the loan by contributing a lump sum of $1,800 when you successfully graduate from university. Calculate the new value of X. (1 mark) - Option 2: For the first 36 months (while you are still studying), you will be making month-end-instalments of $Y. Then, commencing at the end of the 37th month (when you graduate from university), you will double the amount of monthly repayment for the remaining 30 month-end-instalments. The nominal interest rate is 6% per annum compounded monthly. f) Calculate the value of Y.

You want to buy a car which will cost you $10,000. You do not have sufficient funds to purchase the car. You do not expect the price of the car to change in the foreseeable future. You can either save money or borrow money to buy the car.

• Plan 1: You decide to open a bank account and start saving money. You will purchase the car when you have sufficient savings. The nominal interest rate for the bank account is 6% per annum compounded monthly.

a) You will make regular deposits in your bank account at the start of each month for the next 2.5 years. Calculate the minimum required monthly savings to be deposited into the bank such that you would have sufficient funds to purchase the car in 2.5 years. (1 mark)

b) You will make regular deposits in your bank account at the start of each week for the next 2.5 years. Calculate the minimum required weekly savings to be deposited into the bank such that you would have sufficient funds to purchase the car in 2.5 years.

c) You will make regular deposits of $2,000 at the end of each year. Calculate how long will it take for you to have sufficient funds to purchase the car. (1 mark)

• Plan 2: You decide to borrow $13,000 from the bank and purchase the car now, as well as cover some other expenses. The bank offers two options for the structure of the repayments.

- Option 1: The first repayment will not start until you graduate from university. Therefore, no month-end-instalments will be made for the first 36 months. Then, commencing at the end of the 37^th month, a total of 30 month-end-instalments of $X will be made over the life of the loan. The nominal interest rate is 6% per annum compounded monthly.

d) Calculate X. (2 mark)

e) Your parents agree to help you repay the loan by contributing a lump sum of $1,800 when you successfully graduate from university. Calculate the new value of X. (1 mark)

- Option 2: For the first 36 months (while you are still studying), you will be making month-end-instalments of $Y. Then, commencing at the end of the 37^th month (when you graduate from university), you will double the amount of monthly repayment for the remaining 30 month-end-instalments. The nominal interest rate is 6% per annum compounded monthly.

f) Calculate the value of Y.

You want to buy a car which will cost you $10,000. You do not have sufficient funds to purchase the car. You do not expect the price of the car to change in the foreseeable future. You can either save money or borrow money to buy the car.

• Plan 1: You decide to open a bank account and start saving money. You will purchase the car when you have sufficient savings. The nominal interest rate for the bank account is 6% per annum compounded monthly.

a) You will make regular deposits in your bank account at the start of each month for the next 2.5 years. Calculate the minimum required monthly savings to be deposited into the bank such that you would have sufficient funds to purchase the car in 2.5 years. (1 mark)

b) You will make regular deposits in your bank account at the start of each week for the next 2.5 years. Calculate the minimum required weekly savings to be deposited into the bank such that you would have sufficient funds to purchase the car in 2.5 years.

c) You will make regular deposits of $2,000 at the end of each year. Calculate how long will it take for you to have sufficient funds to purchase the car. (1 mark)

• Plan 2: You decide to borrow $13,000 from the bank and purchase the car now, as well as cover some other expenses. The bank offers two options for the structure of the repayments.

- Option 1: The first repayment will not start until you graduate from university. Therefore, no month-end-instalments will be made for the first 36 months. Then, commencing at the end of the 37^th month, a total of 30 month-end-instalments of $X will be made over the life of the loan. The nominal interest rate is 6% per annum compounded monthly.

d) Calculate X. (2 mark)

e) Your parents agree to help you repay the loan by contributing a lump sum of $1,800 when you successfully graduate from university. Calculate the new value of X. (1 mark)

- Option 2: For the first 36 months (while you are still studying), you will be making month-end-instalments of $Y. Then, commencing at the end of the 37^th month (when you graduate from university), you will double the amount of monthly repayment for the remaining 30 month-end-instalments. The nominal interest rate is 6% per annum compounded monthly.

f) Calculate the value of Y.

You want to buy a car which will cost you $10,000. You do not have sufficient funds to purchase the car. You do not expect the price of the car to change in the foreseeable future. You can either save money or borrow money to buy the car.

• Plan 1: You decide to open a bank account and start saving money. You will purchase the car when you have sufficient savings. The nominal interest rate for the bank account is 6% per annum compounded monthly.

a) You will make regular deposits in your bank account at the start of each month for the next 2.5 years. Calculate the minimum required monthly savings to be deposited into the bank such that you would have sufficient funds to purchase the car in 2.5 years. (1 mark)

b) You will make regular deposits in your bank account at the start of each week for the next 2.5 years. Calculate the minimum required weekly savings to be deposited into the bank such that you would have sufficient funds to purchase the car in 2.5 years.

c) You will make regular deposits of $2,000 at the end of each year. Calculate how long will it take for you to have sufficient funds to purchase the car. (1 mark)

• Plan 2: You decide to borrow $13,000 from the bank and purchase the car now, as well as cover some other expenses. The bank offers two options for the structure of the repayments.

- Option 1: The first repayment will not start until you graduate from university. Therefore, no month-end-instalments will be made for the first 36 months. Then, commencing at the end of the 37^th month, a total of 30 month-end-instalments of $X will be made over the life of the loan. The nominal interest rate is 6% per annum compounded monthly.

d) Calculate X. (2 mark)

e) Your parents agree to help you repay the loan by contributing a lump sum of $1,800 when you successfully graduate from university. Calculate the new value of X. (1 mark)

- Option 2: For the first 36 months (while you are still studying), you will be making month-end-instalments of $Y. Then, commencing at the end of the 37^th month (when you graduate from university), you will double the amount of monthly repayment for the remaining 30 month-end-instalments. The nominal interest rate is 6% per annum compounded monthly.

f) Calculate the value of Y.

Task:

1. Create journal entries for the following transactions;
2. Draw up a T-account for each account affected by transactions;
3. Calculate normal balances for all T-accounts.
4. Prepare an unadjusted trial balance.

Transactions:

April, 1: Student Co. received fees earned from customers, $ 20,000;

April, 2: Purchased office equipment on credit, $45,000;

April, 6: The owner invests $170,000 cash into business;

April, 8: Purchased office supplies on account, $2,500;

April, 9: Purchased land for a future building site, $80,000;

April, 13: Paid office rent for one month, $5,500;

April, 16: Received cash $4,100 from a customer for interest earned;

April, 18: Paid utilities expense for the month of February, $700;

April, 19: The owner withdraws $3,000 from the business;

April, 20: Purchased inventory, $5,000;

April, 21: Paid creditors on account, $5,500;

April, 24: Paid tax expense, $500;

April, 25: Services provided on account, $23,000;

April, 28: Paid creditors on account, $20,000;

April, 29: Paid salaries bill, $23,900.

April 30, Received $10,000 on account from customers.

Ledger

Add more T-accounts if needed.

(Draw a T accounts)   

Please solve it within 20 minutes (updated)

1. Solve the following      
   1. A company is considering a machine that will cost $(705 *1000) to buy. After seven years its salvage value will be $1000. $3000 cost of overhauling will be needed in the year 4th. maintenance costs will be $2500 per year. Draw the cash flow diagram.
   2. Suppose you start a project and invest $5000 now, how much you obtain as a result after 5 years. Find the future value and the interest earned also draw cash flow? discount value i=5%

Dirk Company reported the following balances at December 31, 2016: common stock $391,000, paid-in capital in excess of par value—common stock $109,000, and retained earnings $242,000. During 2017, the following transactions affected stockholders' equity.

Prepare the stockholders’ equity section of Dirk Company’s December 31, 2017, balance sheet.