Artie Siegel, an MBA student, has been having problems balancing his checkbook. His monthly income is derived from a graduate research assistantship; however, he also makes extra money in most months by tutoring undergraduates in their quantitative analysis course. His historical chances of various income levels are shown in the following table: Monthly Income* ($) Probability 350 0.40 400 0.20 450 0.30 500 0.10 *Assume that this income is received at the beginning of each month. Siegel’s expenditures also vary from month to month, and he estimates that they will follow this distribution: Monthly Expenses ($) Probability 300 0.10 400 0.45 500 0.30 600 0.15 He begins his final year with $600 in his checking account. Simulate the entire year (12 months) on the next page and discuss Siegel’s financial picture, i.e., will he be able to keep his head above water--(out of debt)? What is his expected average profit for the 12 months? Use the random numbers below. Random numbers for Income and Expenses Income .85 .54 .73 .95 .9 .19 .81 .2 .76 .55 .57 .01 Expenses .99 .44 .01 .80 .95 .72 .75 .16 .32 .57 .31 .32

Please complete in excel and attached excel screenshot! Much appreciated!

2. Artie Siegel, an MBA student, has been having problems balancing his checkbook. His monthly income is derived from a graduate research assistantship; however, he also makes extra money in most months by tutoring undergraduates in their quantitative analysis course. His historical chances of various income levels are shown in the following table:

*Assume that this income is received at the beginning of each month.

Siegel’s expenditures also vary from month to month, and he estimates that they will follow this distribution:

He begins his final year with $600 in his checking account. Simulate the entire year (12 months) on the next page and discuss Siegel’s financial picture, i.e., will he be able to keep his head above water--(out of debt)? What is his expected average profit for the 12 months? Use the random numbers below.

Random numbers for Income and Expenses

explain the follow up steps you would want to take to satisfactorily
clear each of the five comments from customers below. Think about and document whether the comment
indicates a concern or not, what fraudulent activity could be happening or what errors could have occurred,
what additional follow-up information would you want to seek out to gain comfort on the situation, etc.
You have been assigned to the first audit of the Chicago Company for the year ending March 31, 2017.
Accounts receivable were confirmed on December 31, 2016, and at that date the receivables consisted of
approximately 200 accounts with balances totaling $956,750. Seventy-five of these accounts with balances
totaling $650,725 were selected for confirmation. All but 20 of the confirmation requests have been returned;
36 were signed without comments, 14 had minor differences that have been cleared satisfactorily, and 5
confirmations had the following comments:
1. We are sorry, but we can’t answer your request for confirmation of our account as the system we are using
does not provide us the necessary information.

2. The balance of $1,050 was paid on December 23, 2016

3. We never received these goods.

4. The $10,000, representing a deposit under a lease, will be applied against the rent due to us during 2018,
the last year of the lease.

5. We do not owe you anything at December 31, 2016, as the goods, represented by your invoice dated
December 30, 2016, number 25050, in the amount of $11,550 were received on January 5, 2017, on FOB
destination terms.

6. The balance of $7,750 was paid on January 5, 2017.

7. Amount okay, as the goods have been shipped to us on consignment, we will remit the payment upon
selling the goods.

8. Your credit memo dated December 5, 2016, in the amount of $440 cancels the balance above.

9. We are contesting the propriety of this $12,525 charge. We think the charge is excessive.

10. An advance payment of $2,500 made by us in November 2016 should cover the two invoices totaling
$1,350 shown on the statement attached.

REQUIRED: With your group members, explain the follow up steps you would want to take to satisfactorily clear each of the five comments from customers below. Think about and document whether the comment indicates a concern or not, what fraudulent activity could be happening or what errors could have occurred, what additional follow-up information would you want to seek out to gain comfort on the situation, etc.

You have been assigned to the first audit of the Chicago Company for the year ending March 31, 2017. Accounts receivable were confirmed on December 31, 2016, and at that date the receivables consisted of approximately 200 accounts with balances totaling $956,750. Seventy-five of these accounts with balances totaling $650,725 were selected for confirmation. All but 20 of the confirmation requests have been returned; 36 were signed without comments, 14 had minor differences that have been cleared satisfactorily, and 5 confirmations had the following comments:

1. We are sorry, but we can’t answer your request for confirmation of our account as the system we are using does not provide us the necessary information.

2. The balance of $1,050 was paid on December 23, 2016

3. We never received these goods.

4. The $10,000, representing a deposit under a lease, will be applied against the rent due to us during 2018, the last year of the lease.

5. We do not owe you anything at December 31, 2016, as the goods, represented by your invoice dated December 30, 2016, number 25050, in the amount of $11,550 were received on January 5, 2017, on FOB destination terms.

6. The balance of $7,750 was paid on January 5, 2017.

7. Amount okay, as the goods have been shipped to us on consignment, we will remit the payment upon selling the goods.

8. Your credit memo dated December 5, 2016, in the amount of $440 cancels the balance above.

9. We are contesting the propriety of this $12,525 charge. We think the charge is excessive.

10. An advance payment of $2,500 made by us in November 2016 should cover the two invoices totaling $1,350 shown on the statement attached.

Which of the following best describes the generic competitive strategy that company management intends to use for AC Cameras during the next three years? What evidence is there to indicate that pursuit of this strategy is currently on track?

1.The company will employ a global low-cost leadership strategy and pursue a competitive advantage keyed to having lower costs and selling both regular and special contract cameras at low prices relative to rivals.

2.The company will employ a global differentiation strategy that sets our AC Cameras apart from rival brands based on such attributes as a higher P/Q rating, more models, more advertising, longer warranties, retailer support, sales promotions, or website displays.

3.The company will employ a global best-cost or "more value for the money" strategy (e.g., providing 5-star AC Cameras at lower prices than other 5-star brands) where the competitive advantage is an ability to incorporate appealing attributes (higher P/Q, more models, longer warranties) at a lower cost than rivals.

4.The company will employ a focus strategy for AC Cameras aimed at:

5.The company will pursue a combination of the above strategies because our approach is not well-matched with any of the generic competitive strategies.

6.Our company has no consistent competitive strategy — we prefer to "re-invent" our strategy each year to pursue whatever opportunities look most promising. Our plan over the next three years is to continue our "opportunistic" approach to strategy and not commit the company to any long-term strategy or any specific market focus. We like this strategy-for-a-year approach and believe it works well for us.

Break-Even Sales Under Present and Proposed Conditions

Darby Company, operating at full capacity, sold 121,500 units at a price of $117 per unit during the current year. Its income statement for the current year is as follows:

The division of costs between fixed and variable is as follows:

Management is considering a plant expansion program that will permit an increase of $1,287,000 in yearly sales. The expansion will increase fixed costs by $128,700, but will not affect the relationship between sales and variable costs.

5. Determine the amount of sales (units) that would be necessary under the proposed program to realize the $175,500 of income from operations that was earned in the current year. Enter the final answers rounded to the nearest whole number.
units

6. Determine the maximum income from operations possible with the expanded plant. Enter the final answer rounded to the nearest dollar.
$

7. If the proposal is accepted and sales remain at the current level, what will the income or loss from operations be for the following year? Enter the final answer rounded to the nearest dollar.
$ Income

Dana Bowen Company is completing its first year of operations on April 30. Reconstruct the entries for the year ended April 30 from the T accounts below. Record them, assigning labels to each transaction, as follows:

1a. Journal Entries

1b. Adjusting Journal Entries

2a. Balance and prepare the Income Statement from the T-Accounts.

2b. Balance and prepare the Statement of Owner's Equity from the T-Accounts.

2c. Balance and prepare the Balance Sheet from the T-Accounts.

3. Prepare the closing entries. If an amount box does not require an entry, leave it blank.

4. Prepare the Post-Closing Trial Balance. If an amount box does not require an entry, leave it blank.

Determine the amount of sales (units) that would be necessary under

Break-Even Sales Under Present and Proposed Conditions

Darby Company, operating at full capacity, sold 93,150 units at a price of $66 per unit during the current year. Its income statement for the current year is as follows:

Sales                                      $6,147,900

Cost of goods sold                                           3,036,000

Gross profit                                        $3,111,900

Expenses:                                          

Selling expenses              $1,518,000                          

Administrative expenses              1,518,000                            

Total expenses                                 3,036,000

Income from operations                                               $75,900

The division of costs between fixed and variable is as follows:

Variable               Fixed

Cost of goods sold           70%                        30%       

Selling expenses              75%                        25%       

Administrative expenses              50%                        50%       

Management is considering a plant expansion program that will permit an increase of $528,000 in yearly sales. The expansion will increase fixed costs by $52,800, but will not affect the relationship between sales and variable costs.

5. Determine the amount of sales (units) that would be necessary under the proposed program to realize the $75,900 of income from operations that was earned in the current year. Enter the final answers rounded to the nearest whole number.
units

6. Determine the maximum income from operations possible with the expanded plant. Enter the final answer rounded to the nearest dollar.
$

7. If the proposal is accepted and sales remain at the current level, what will the income or loss from operations be for the following year? Enter the final answer rounded to the nearest dollar.
$ Income

A toll-free phone number is available from 9 a.m. to 9 p.m. to customers who want to register a complaint about a product purchased from your company. Past history indicates that, on average, 0.4 calls are received per hour.

(a) Decide what would be an appropriate distribution to describe the process [2] of people making complaints. Give a justification of your answer, in at most one sentence.

(b) Using the distribution in (a), find the following probabilities: (i) the probability that zero phone calls will be received; [4] (ii) the probability that one phone call will be received; [4] (iii) the probability that two or more phone calls will be received. [2]

Below are the jersey numbers of 11 players randomly selected from a football team. Find the​ range, variance, and standard deviation for the given sample data. What do the results tell​ us?

53   98   58   69   16   65   32   95   59   15   44