Company A is a construction company and is a new audit client of your firm. It has never been audited but a different accounting firm performed a review engagement for y/e 31 Dec 2016. Your firm is auditing A’s financial statements for y/e 31 Dec 2017.

Company A is privately owned by the Jones family in Country X, using the X$ currency. The president, VP, secretary/treasurer, controller and various levels of managers are all family members.

All management employees who must travel to job sites (including 9 family members) are assigned company-owned cars for their personal use. The company has a total of 80 company cars. Employees have access to these cars at all times, and the cars do not need to be returned to the company parking yard except for periodic servicing.

The company also owns vans and trucks that are used by various company employees to transport equipment, supplies, labour, and material to and from job sites. These vehicles are stored at the company facilities when not in use and are never available for personal use.

The company also has a number of special-use heavy vehicles that are used at job sites and stored at the job site or in the parking yard of the company.

As part of the 2017 audit, you have been assigned the task of auditing fuel expense. The general ledger fuel expense account shows X$317,224. According to the client, the 2016 figure was X$375,542.

Your audit manager has asked you to perform some form of analytical procedure on fuel expense. Company A’s staff has gathered the following information for you:

Other information:
Cars and pickup trucks run on petrol, which has averaged $3.05/gallon during 2017. All other vehicles use diesel. You have determined the typical diesel price increases during 2017 as below.
* 1 person-day = 8 hours
** According to the construction foreman, these are in continual usage every day a job is in progress. The company has been extremely busy but crews do not work overtime or weekends

Required:

1. What is (are) the primary management assertion(s) related to fuel expense in this case?

2. What is your team’s $ value estimate for Company A’s fuel expense for 2017?

3. What is your conclusion – is the client’s fuel expense misstated (over/under-stated)? Why/why

not? Do you recommend a correcting journal entry be put through?

4. What further information would you need to assist you in arriving at a conclusion for

Requirement 2?

Iterative Linear Search, Recursive Binary Search, and Recursive Selection Sort

I need it in Java with comments and I need the input file to be placed with Scanner not BufferedReader Please help I need Class River Class CTRiver and Class Driver

Class River describes river’s name and its length in miles. It provides accessor methods (getters) for both variables, toString() method that returns String representation of the river, and method isLong() that returns true if river is above 30 miles long and returns false otherwise.

Class CTRivers describes collection of CT rivers. It has no data, and it provides the following service methods. None of the methods prints anything, except method printLongRiversRec, which prints all long rivers. Input parameter n in all methods is number of occupied elements in the list.

// Prints all long rivers in the list. Print them in same order as they were in the list . List can be

// empy or not.

• void printLongRiversRec(River[] list, int n)

// Returns index for the river object with given name. Returns -1 for unsuccessful search. List can

// be empy or not.

• int linearSearch(River[] list, int n, String name)

// Returns ArrayList of rivers with length between min and max inclusive. If no such river was found,

// method returns an empty Arraylist<River>. List can be empy or not.

• ArrayList <River> searchRange(River[] list, int n, int min, int max)

// Sorts list of rivers by comparing them by names. Apply selection sort recursively. List of rivers can be

// empy or nonempty. Empty list and list with one river only are sorted. Lists with two or more rivers are

// sorted by swapping last river in the list with river object that has name that is last in lexicographic order // in the array, and after that recursively sorting sublist of first n-1 rivers.

• void sortByNameRec(River[] list, int n)

// PRECONDITION: Method assumes that input list is sorted by names. First and last are indices of the first

// and last river of the current sublist. Method returns index of river object with given name or returns -1

// if none of the rivers has that name. List of rivers can be empy or not.

• int binarySearchRec(River[] list, int first, int last, String name)

The three methods highlighted in yellow must be implemented recursively.

File “input.txt”

Naugatuck   40

Pawcatuck   34

Quinebaug   69

Shepaug   26

Connecticut   407

Still   25

Quinnipiac   46

Housatoic 139

Class Driver has main method in it. Read data from the input file "input.txt" into an array of River objects, named riverList, and keep track of number of rivers stored in variable counter. Array riverList has capacity 100. Input file should be as shown. Program should work for any input file with up to 100 rivers in it.

• Print all long rivers.
• Apply one successful and one unsuccessful linear search.
• Print all rivers with length between min and max (min and max are provided by user). Must use for each loop in the main method to print resulting ArrayList<River> returned by method searchRange .
• Sort myList by river names, and print sorted list.
• Apply one successful and one unsuccessful binary search on sorted list.

Must print appropriate explanation in English of all steps performed in outcome.

SUBMIT:

• Copy of the code for each class and input file in separate rectangle.
• Picture of program run from BlueJ.
• Picture of UML diagram.

Suppose we wish to build a multiple regression model to predict the cost of rent (dollars) in a city based on population (thousands of people), and income (thousands of dollars). Use the alpha level of 0.05.

A. Is the whole regression model effective in predicting the cost of rent? Use alpha of 0.1. Make sure to show which values you use to make the decision.

B. Write down the multiple regression equation using actual names of IVs and DVs.

C. What is the value of the estimated intercept? Interpret the value in terms of rent (dollars) based on population (thousands of people), and income (thousands of dollars).

D. What is the values of the estimated slope for the variable “Income”? Interpret the value in terms of actual names of IVs and the DV.

E. What is the values of the estimated slope for the variable “Population”? Interpret the value in terms of actual names of IVs and the DV.

F. Does Income significantly influence the Rent at the alpha level of 0.01? Make sure to show which values you use to make the decision.

G. Does Population significantly influence the Rent at the alpha level of 0.01? Make sure to show which values you use to make the decision.

Data:

Be sure to 1) give the null and alternative hypotheses, 2) label which hypothesis is the claim, 3) Identify whether the test is left-tailed, right-tailed, or two-tailed, 4) name the test being used, 5) find the P-value for the sample, 6) state whether you reject or fail to reject the null hypothesis, and 7) give the conclusion in the context of the problem.

3. A student at South Plains College claims that the average cost of textbook is more than $75 dollars. Test this student’s claim using a 0.05 level of significance. A random sample of 15 textbooks had an average price of $78.15 and a standard deviation of $8.80. (9 pts)

4. The health of the bear population in Yellowstone National Park is monitored by periodic measurements taken from anesthetized bears. A sample of 54 bears has a mean weight of 182.9 lbs and it has previously been found that the population standard deviation of bear weights is 81.8 lb. Use a 0.10 level of significance to test the claim that the population mean of all such bear weights is less than 200 lb. (9 pts)

5. It has been believed that one in four Americans (25%) relies on unconventional medicine. Test this claim using a 0.01 level of significance if a recent study reported in the New England Journal of Medicine found that in a random sample of 1,539 adults, 428 of them used some form of unconventional medicine. (9 pts)

6.   A medical researcher wishes to see whether the pulse rates of smokers are higher than the pulse rate of nonsmokers. Samples of 100 smokers and 100 nonsmokers are selected. The results are shown below. Using a level of significance of 0.05, test the claim that smokers have higher pulse rates than nonsmokers. (9 pts) Also, find the 90% confidence interval for the differences of the means. (3 pts)

       Smokers                                        Nonsmoker

x1 = 90 x2 = 88

s1 = 5 s2 = 6

n1 = 100 n2 = 100

The following table shows age distribution and location of a random sample of 166 buffalo in a national park.

Use a chi-square test to determine if age distribution and location are independent at the 0.05 level of significance.

(a) What is the level of significance?


State the null and alternate hypotheses.

H₀: Age distribution and location are independent.
H₁: Age distribution and location are not independent.H₀: Age distribution and location are not independent.
H₁: Age distribution and location are independent.    H₀: Age distribution and location are not independent.
H₁: Age distribution and location are not independent.H₀: Age distribution and location are independent.
H₁: Age distribution and location are independent.

(b) Find the value of the chi-square statistic for the sample. (Round the expected frequencies to at least three decimal places. Round the test statistic to three decimal places.)


Are all the expected frequencies greater than 5?

YesNo    

What sampling distribution will you use?

uniformbinomial    Student's tnormalchi-square

What are the degrees of freedom?


(c) Find or estimate the P-value of the sample test statistic. (Round your answer to three decimal places.)


(d) Based on your answers in parts (a) to (c), will you reject or fail to reject the null hypothesis of independence?

Since the P-value > ?, we fail to reject the null hypothesis.Since the P-value > ?, we reject the null hypothesis.    Since the P-value ? ?, we reject the null hypothesis.Since the P-value ? ?, we fail to reject the null hypothesis.

(e) Interpret your conclusion in the context of the application.

At the 5% level of significance, there is sufficient evidence to conclude that age distribution and location are not independent.At the 5% level of significance, there is insufficient evidence to conclude that age distribution and location are not

Sharkey’s Fun Center contains a number of electronic games as well as a miniature golf course and various rides located outside the building. Paul Sharkey, the owner, would like to construct a water slide on one portion of his property. Mr. Sharkey gathered the following information about the slide:

1. Water slide equipment could be purchased and installed at a cost of $405,000. According to the manufacturer, the slide would be usable for 12 years after which it would have no salvage value.
2. Mr. Sharkey would use straight-line depreciation on the slide equipment.
3. To make room for the water slide, several rides would be dismantled and sold. These rides are fully depreciated, but they could be sold for $72,500 to an amusement park in a nearby city.
4. Mr. Sharkey concluded that about 50,000 more people would use the water slide each year than have been using the rides. The admission price would be $4.20 per person (the same price the Fun Center has been charging for the old rides).
5. Based on experience at other water slides, Mr. Sharkey estimates that annual incremental operating expenses for the slide would be: salaries, $87,000; insurance, $5,000; utilities, $13,800; and maintenance, $10,600.

Required:

1. Prepare an income statement showing the expected net operating income each year from the water slide.

2-a. Compute the simple rate of return expected from the water slide.

2-b. Based on the above computation, would the water slide be constructed if Mr. Sharkey requires a simple rate of return of at least 14% on all investments?

3-a. Compute the payback period for the water slide.

3-b. If Mr. Sharkey accepts any project with a payback period of five years or less, would the water slide be constructed?

Q1. Implementation of solar power in different applications is becoming popular and many opportunities are available for industries and other commercial establishments to adopt this technology. Impressed by this technology, a star hotel located in a remote beach of Oman is willing to use solar PV technologies for meeting 25 percentage of its daily average power requirement. It is also ready to have a battery backup system to store the entire energy obtained from solar panels. The balance power will be taken from the grid. The solar radiation may be assumed as 400 W/m2 for the region. The loads and their average working hours per day are given below.
Lights : 5 kW, 12 hours
Air conditioning systems : 4 numbers, each 30 kW, 12 hours
Refrigerator : 60 numbers, each 350 W, 10 hours
Cold Room : 12 kW, 24 hours
Kitchen equipment : 15 kW, 9 hours
Laundry equipment : 10 kW, 4 hours
Cleaning equipment : 2000 W, 8 hours
Lifts : 4 kW, 3 numbers, 5 hours
Swimming poor equipment : 6 kW, 4 hours
Water pumps : 3000 W, 2 numbers, 4 hours Fans and blowers : 4 kW, 6 hours

Based on the available data you are asked to analyze the situation and prepare a write-up to implement the PV technology for the specific application. The write-up is expected with various features like the plan for the suitable energy conversion system with all equipment, controls, storage and distribution system, a schematic diagram of the entire plan, provisions included to manage the power with the gird power, impacts of losses in various components, effective conversion of DC and AC power, specification of the battery storage system etc. Appropriate discussion is also expected to address the challenges involved in the implementation of this proposal and your valid suggestions to overcome those risks.   

ACCOUNTING INTERMEDIATE 2

On 1st January 2014 Alex company dealers of electronic products purchased a building for $8,000,000. Its estimated useful life at that date was 20 years and the company applies straight line depreciation method. On 31st December 2018, the government launched a plan to construct a flyover adjacent to the building and the related construction reduced the access to the building due to the inability to park and enter to the building. Due to this reason the value for the building decreased. The company estimated that they can sell the building for $4,700,000 but it has to incur a cost of $205,000. Alternatively, if it continues to use it the present value of the net cash flows that the building would generate is $5,200,000. In 2019 the government constructed a service road parallel to the highway which improved the recoverable amount to $6,000,000. The depreciation for the year 2019 is $440,000 Calculate the carrying amount, recoverable amount and the necessary journal entries for the above scenario. You are required to:

A.Calculate accumulated depreciation & carrying value as at 31st Dec 2018, applying IAS 36.

B. Calculated recoverable amount & Impairment loss as at 31st Dec 2018 applying IAS 36.

C. Record relevant journal entries as at 31st Dec 2018 applying IAS 36 and amount to be recognized in statement of financial position.

D. Calculated carrying amount and amount of appreciation in building as at 31st Dec 2019 applying IAS 36.

E. Record relevant journal entry for regain in the value of impaired asset as at 31st Dec 2019 applying IAS 36.

F. A customer has made a claim against Alex Company for injury suffered following the purchases and use of a defective electronic product. Legal advisers have confirmed that Alex Company will probably have to pay financial compensation of $50,000 to the customers. In turn, Alex Company has made a counter claim against the suppliers of the defective products for $50,000 and believes it is probable that its claim against the supplier will be successful. Justify with reasons what adjustments, if any, should be made by Alex Company in the financial statements.

You operate your own small building company and have decided to bid on a government contract to build a pedestrian walkway in a national park during the coming winter. The walkway is to be of standard government design and should involve no unexpected costs. Your present capacity utilization rate is moderate and allows sufficient scope to understand this contract, if you win it. You calculate your incremental costs to be $268,000 and your fully allocated costs to be $440,000. Your usual practice is to add between 60% and 80% to your incremental costs, depending on capacity utilization rate and other factors. You expect three other firms to also bid on this contract, and you have assembled the following competitor intelligence about those companies.

Show all of your calculations and processes. Describe your answers in three- to five-complete sentences.

C.) Defend your answers with discussion, making any assumptions you feel are reasonable and/or are supported by the information provided.

Pureform, Inc., uses the weighted-average method in its process costing system. It manufactures a product that passes through two departments. Data for a recent month for the first department follow:

The beginning work in process inventory was 80% complete with respect to materials and 65% complete with respect to labor and overhead. The ending work in process inventory was 60% complete with respect to materials and 50% complete with respect to labor and overhead.

Required:

Assume that the company uses the FIFO method in its process costing system.

1. Compute the first department's equivalent units of production for materials, labor, and overhead for the month.

2. Compute the first department's cost per equivalent unit for materials, labor, overhead, and in total for the month. (Round your answers to 2 decimal places.)

.

Madison Park Co-op, a whole foods grocery and gift shop, has provided the following data to be used in its service department cost allocations:

Required:

Using the step-down method, allocate the costs of the service departments to the two operating departments. Allocate Administration first on the basis of employee-hours and then Janitorial on the basis of space occupied. (Please enter allocations from a department as negative and allocations to a department as positive. The line should add across to zero. Do not round intermediate calculations. Round your answers to the nearest whole dollar amount.)