POS-301: Analyzing Arizona Tax Worksheet

Complete all five parts of the worksheet.

Part One: Income Tax

Part Two: Arizona Sales Tax

2. Who determines the amount of each tax?

3. Where does revenue from this tax go? What does it fund?

Part Three: Arizona Utility Tax

2. Who determines the amount of each tax?

3. Where does revenue from this tax go? What does it fund?

Part Four: Property Tax

2. Who determines the amount of each tax?

3. Where does revenue from this tax go? What does it fund?

A suburban hotel derives its revenue from its hotel and restaurant operations. The owners are interested in the relationship between the number of rooms occupied on a nightly basis and the revenue per day in the restaurant. Below is a sample of 25 days (Monday through Thursday) from last year showing the restaurant income and number of rooms occupied.

2. Determine the coefficient of correlation between the two variables. (Round your answer to 3 decimal places.)

1. c-1. State the decision rule for 0.10 significance level: H₀: ρ ≤ 0; H₁: ρ > 0. (Round your answer to 3 decimal places.)

2. c-2. Compute the value of the test statistic. (Round your answer to 2 decimal places.)

3. c-3. Is it reasonable to conclude that there is a positive relationship between revenue and occupied rooms? Use the 0.10 significance level.

An inexperienced bookkeeper prepared the following trial balance that does not balance.

Prepare a correct trial balance, assuming all account balances are normal.

Given demand curve for Silvana Chocolates Company ( SCC )
QD = 10,000 - 25P.

e. Suppose that the price of SCC rose to P = $250.What would be the new point-price elasticity of demand? What is total revenue at this price? What is marginal revenue at this price?
f. Suppose that the supply Curve of SCC is given by the equation QS = -5,000 + 50P.What is the relationship between quantity supplied and quantity demanded at a price of $300?
g. In this market, what is the equilibrium price and quantity?

1. The adjusted trial balance of Norton Company contained the following information. Assume the tax rate is 25%:

                                                                                                  Debit                      Credit

   Sales revenue                                                                                                     $390,000

   Sales returns and allowances                                               $  10,000

   Sales discounts                                                                           5,000

   Cost of goods sold                                                                 200,000

   Operating expenses                                                                110,000

   Interest revenue                                                                                                       8,000

   Interest expense                                                                         3,000

Compute Income before income tax

Compute the net income.

Compute the gross profit & rate(%)

Compute the net sales.

Compute income from Operations

Which of the following is NOT true about Income Statements?

Question 2 options:

Locate the company's most recent financial information. Note that this information may be located in one of two places: the Annual Report to Shareholders or Form 10-K Annual Report to the SEC. Locate the Notes to the Financial Statements. In the first note, Significant Accounting Policies, locate the Revenue Recognition note. How does the accrual accounting/revenue recognition principle affect this company? If the cash basis of accounting were used rather than the accrual basis, how would the results of operations be impacted?

Foxboro Company experienced an accounting event that affected it balance sheet and income statement in the following way:

Assets: -/+

Liabilities: NA

Equity: NA

Revenue: NA

Expenses: NA

Net Income: NA

Which of the following accounting events could have caused these effects on Foxboro's statements:

a. Purchase raw materials inventory on account

b. Transfer cost from work in process to finished good inventory

c. Recognize revenue from merchandise sold for cash

d. None of the above

Heather Anderson is a vegetarian who follows a holistic lifestyle She credits her adoption of a healthy lifestyle with saving her life. Now she wants to share this healthful living with others through her new company called "BC Edible Health" Her firm would initially start with the over 60 wild edible plants found in BC and the Pacific Northwest. These plants form part of the BC 100 mile local diet. Heather would sell these plants (products ) to customers. Details Collect the plants from BC forests clean them and sell them as is (live plants )their seeds only or dried format ready to ship anywhere in the world to individual customers, restaurants, grocers, etc. Grow some of these plants in her own two large greenhouses on her property contract greenhouses in BC to grow many of the high-volume selling plants for her open a store on Commercial Drive to showcase these plants (do cooking demonstrations ) and offer them for sale in any of the above formats conform to all BC and Federal Government health regulations Participate in wellness events, conventions, trade shows people become increasingly concerned about processed foods Heather sees a real need for her business Her main motivation is peoples health, but she does realize this operation needs to be carefully planned out in order to be at least self-sustainingWhile she realizes your consulting group may not be familiar with her products, she does respect your group's reputation for creating comprehensive operations plans what we required

1 identify at least 4 different types of customers. ( vegetarians, sellers, restaurants and specific diet plan followers)

2. explain the reasons that they are facing in life that would cause them to want to use your firm for each type of customer

3. what are the important things happening in their lives for each type of customer

4. their target market \ 4 customers segments )

5.explain their demographics in detail for each type of customers

Quiz 4

A manufacturer makes and sales four types of products:  Product X, Product Y, Product Z, and Product W.  

The resources needed to produce one unit of each product and the sales prices are given in the following Table.

• Currently, 4,600 pounds of steel and 5,000 machine hours are available.

• To meet customer demands, exactly 950 total products must be produced.

• Customers also demand that at least 400 units of Product W be produced.

Formulate an LP that can be used to maximize sales revenue for the manufacturer.

LP Formula

Let Pi be the number of product type i produced by the manufacturer, where i = X, Y, X, and W.

MAXIMIZE  4 PX + 6 PY + 7 PZ + 8 PW

Subject To

2 PX + 3 PY + 4 PZ + 7 PW <= 4600   ! Available Steel

3 PX + 4 PY + 5 PZ + 6 PW <= 5000   ! Available Machine Hours

PX + PY + PZ + PW    = 950               ! Total Demand

                            PW >= 400               ! Product W Demand

PX >=0

PY >=0

PZ >=0

PW >=0

Suppose the sales price of Product Z is decreased by 60¢. What is the new optimal solution to the LP?