Travel uses the contribution margin income statement internally. First Nation's ​first-quarter results follow. LOADING... ​(Click the icon to view the income​ statement.) First Nation's relevant range is between sales of $ 135 comma 000 and $ 780 comma 000 .

Requirements 1. Prepare contribution margin income statements at sales levels of $ 185 comma 000 and $ 680 comma 000 . ​(​Hint: Use the contribution margin​ ratio.) 2. Compute​ break-even sales in dollars. Requirement 1. Prepare the contribution margin income statement at the $ 185 000 level. ​(Round interim percentages to the nearest whole percent. Enter losses with a minus sign or​ parentheses.) First Nation Travel

Head-First Company now sells both bicycle helmets and motorcycle helmets. Next year, Head- First expects to produce total revenue of $585,000 and incur total variable cost of $372,000. Total fixed cost is expected to be $60,000.

1. Valley View Manufacturing Inc. sought a $500,000 loan from First National Bank. First National insisted that audited financial statements be submitted before it would extend credit. Valley View agreed to do so, and an audit was performed by an independent CPA who submitted her report to Valley View. First National, upon reviewing the audited statements, decided to extend the credit desired. Certain ratios used by First National in reaching its decision were extremely positive indicating a strong cash flow. It was subsequently learned that the CPA, despite the exercise of reasonable care, had failed to discover a sophisticated embezzlement scheme by Valley View’s chief accountant. Under these circumstances, what liability might the CPA have?

2. What are the costs and benefits of establishing one set of accounting standards (i.e., IFRS) around the world? How do cultural factors, legal systems, and ethics influence your answer? Apply a utilitarian approach in making the analysis.

Tire Kingdom installs automobile tires on a first-come-first-served basis. A random sample of 40 customers experienced an average wait time of 90.5 minutes. Assume that the standard deviation of the total wait time for all customers is 20.6 minutes. Determine the 90% confidence interval for this sample.

19. In 1886, 15-year old Pablo Picasso completed his first academic work, First Communion. In 1900, your great grandmother bought it for $200. Your mother sold it in 2017 (1 17 years later. for $30 million (net of auction fees and taxes). What was the investment's average annual real return over the life of the investment if average inflation was 2.9%, and the average market risk premium was 6.2%? A. 3.1% B. 7.6% c. 9.1% 10.7% 25.8%

On January 1, 2018, Sans Serif Publishers leased printing equipment from First Lease Corp. First LeaseCorp purchased the equipment from Compudec Corporation at a cost of $479,079.

The lease agreement specifies six annual payments of $92,931 beginning 1/1/18, the beginning of the lease, and at December 31 from 2018 through 2022. On December 31, 2023, at the end of the 6 year lease, and at the end of the six-year lease term, the equipment is expected to be worth $75,000, and San Serif has the option to purchase it for $60,000 on that date. The residual value after 7 years is zero. First LeaseCorp routinely acquires electronic equipment for lease to other firms. The interest rate in these financing arrangements is 10%.  

Exercise of Purchase Option (12/31/23)

Sans Serif Publishers (Lessee) Dr. Interest Expense (10% * $54,542) $5,458

Dr. Lease Payable (difference) $54,542  

Cr. Cash $60,000

CompuDec Corporation (Lessor)

Dr. Cash (exercise price) $60,000

Cr. Lease Receivable (account balance) $54,542

Cr. Interest revenue (10% * outstanding balance) $5,458

($54,542 is the balance of lease payable after all periodic lease payments have been made)

Since the lessee takes the BPO at the end of the lease, from the lessor's point of view, how come the journal doesn't have a debit entry saying "cash $60,000" and the lessor having a credit journal entry saying "equipment $60,000). This question comes from page 859 and 860 illustrations 15-14 and 15-14A in the Intermediate Accounting 9th edition by the authors Spiceland, Nelson, and Thomas.

Please create a matrix A by extract the first 9 entries(first 9 rows) from Ownership(income&lot size) and first 9 entries(first 9 rows) from Non ownership(income& lotsize) by using matlab from the table below: