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:

• Habit 3: Put First Things First

1. What one thing could you do (that you aren’t doing now),   that if you did on a regular basis, would make a tremendous in your life?

2. What one thing in your business or professional life would bring similar results?

Question 2. During the 1930’s, there were a number of (commercial) bank failures. Please answer all of the following questions (a-f) a. What does it mean for a bank to fail (i.e. provide a definition for a bank failure). b. What actions do individuals take when banks begin to fail? c. What actions do commercial banks take when the rate of bank failures begins to rise? d. What effect did the actions of individuals (from part b) and banks (from part c) have on the money supply? Explain. e. The central bank advocated open market purchases. Would these purchases have reversed the change in the moneys supply? f. Describe the role of the central bank as “lender of last resort”. Question 3. Evaluate the following statement: “In the long run, an increase in the growth rate of the money supply leads to an increase in the real interest rate, but no change in the nominal rate.” (Tell me whether you think the statement is true or false, and then explain why in detail). Question 4. Please answer all three parts to this question. a. Write down the quantity equation, in both the level and the rates of change form. What do each of the terms represent? b. If the Bank of Canada wishes to maintain inflation at 2% per year, how can the bank use the quantity equation to achieve this goal? What assumption is made about the velocity of money? c. Does the Bank of Canada target the rate of growth of M1 (the money supply) or the inflation rate? Why? Question 5. Use this table to answer part (a) of question 5. Please answer both parts of this question which appear below the table. Table A Country Currency Currency per Canadian Dollar Canadian Price Index Country Price Index Bolivia Boliviano 8.00 100 700 Japan Yen 125.00 100 25,000 Morocco Dinar 10.00 100 1200 Norway Kroner 6.5 100 650 Thailand Baht 40.00 100 4000 a. Do all of the currency values in this table (Table A) satisfy the predictions of purchasing power parity? If not, which ones are over-valued, and which ones are under-valued? b. Do you think Purchasing Power Parity is a reasonable prediction for all goods? That is, when might PPP a good job of predicting prices, and what might prevent it from doing a good job of predicting prices. Question 6. In your own words, explain interest rate parity. Do we observe interest rate parity in the real-world data (e.g. between Canada and the United States)? Why or why not? Question 7. Use diagrams for the market for loanable funds and the market for foreign currency to describe what would happen to Net Capital Outflow, the Canadian Real Exchange Rate and Net Exports if the government budget deficit increases. Question 8. Explain how the relation between the real exchange rate and net exports explains the downward slope of the demand curve for foreign-currency exchange.