1. Tide Pods are concentrated laundry detergent packets, which have been sold since 2012. Their colorful appearance and small size have led to nearly 7,700 pod-related calls to poison centers for children under 5. In 2017, a series of memes featured Tide Pods as “forbidden fruit.” In January 2018 a (mostly) satirical Tide Pod Challenge appeared, that “encouraged” teenagers to eat tide pods, video the experience, and post it online.
   1. During the first 30 days of 2018, there were 93 calls to poison control centers for teenagers who intentionally ate laundry pods. Typically, the number of calls for teenagers ingesting laundry pods in a month has  = 37 and s = 12. What is the z-score for number of calls in January 2018? What does this imply?
   2. Public was associating increased sharing/view rate of videos tagged “Tide Pod Challenge” with increased calls to poison control centers for eating Tide Pods? For each day in the first 30 days of 2018, the number of YouTube views and poison center calls were measured.  The correlation was r = .41. Is this a significant correlation at the 95% confidence level? Should YouTube take the videos down?
   3. In response to the Tide Pod Challenge, P&G has added warnings about ingesting laundry pods. This may have reduced poisoning incidents involving children. Based on data from the first 15 weeks of 2018, weekly calls for children had an average of 119 and std. deviation of 20. Data from before 2018 had weekly calls of at least 148. Has the number of poisoning incidents decreased? Write the null and alternative hypothesis.
   4. Calculate the test statistic, and with 95% confidence, state your conclusion.

In 2018, the Westgate Construction Company entered into a contract to construct a road for Santa Clara County for $10,000,000. The road was completed in 2020. Information related to the contract is as follows: 2018 2019 2020 Cost incurred during the year $ 2,604,000 $ 4,032,000 $ 1,940,400 Estimated costs to complete as of year-end 5,796,000 1,764,000 0 Billings during the year 2,040,000 4,596,000 3,364,000 Cash collections during the year 1,820,000 4,000,000 4,180,000 Westgate recognizes revenue over time according to percentage of completion. Required: 1. Calculate the amount of revenue and gross profit (loss) to be recognized in each of the three years. 2-a. In the journal below, complete the necessary journal entries for the year 2018 (credit "Various accounts" for construction costs incurred). 2-b. In the journal below, complete the necessary journal entries for the year 2019 (credit "Various accounts" for construction costs incurred). 2-c. In the journal below, complete the necessary journal entries for the year 2020 (credit "Various accounts" for construction costs incurred). 3. Complete the information required below to prepare a partial balance sheet for 2018 and 2019 showing any items related to the contract. 4. Calculate the amount of revenue and gross profit (loss) to be recognized in each of the three years assuming the following costs incurred and costs to complete information. 2018 2019 2020 Cost incurred during the year $ 2,604,000 $ 3,820,000 $ 3,220,000 Estimated costs to complete as of year-end 5,796,000 3,120,000 0 5. Calculate the amount of revenue and gross profit (loss) to be recognized in each of the three years assuming the following costs incurred and costs to complete information. 2018 2019 2020 Cost incurred during the year $ 2,604,000 $ 3,820,000 $ 3,960,000 Estimated costs to complete as of year-end 5,796,000 4,140,000 0

Cybernetronics Inc. (Cyber) is a Canadian-owned public company which designs and manufactures communications and control systems. The company's year end is May 31. It is now June 2018.

You, CPA, are the manager for the audit of Cyber and yesterday had met with the treasurer to discuss the year-end audit. The partner responsible for this client has asked you to prepare a report for the client which discusses important financial accounting issues and a memo to him regarding the audit issues you believe are important.

In April 2018, Cyber introduced a price protection policy for its customers to stimulate sales. Cyber promised customers that if it reduced prices after the customer made its purchase Cyber would reduce the customer's liability accordingly or refund the appropriate amount. On June 14, 2018, Cyber reduced its selling prices by 15%. Sales affected by the price protection policy as at May 31, 2018 were recognized in the amount of $2.4 million.

In May 2018, Cyber entered into an arrangement with a real estate company whereby Cyber provided robotic cleaning machines in exchange for free rent at its head office location. The cost of the machines delivered to the real estate company was $900,000 and would have a selling price of $1,500,000. Cyber is not required to pay rent for twelve months commencing June 1, 2018. This represents a savings in lease costs of $1,200,000 to Cyber. This transaction allowed Cyber to reduce its inventory of these machines which management felt was too high. Cyber's draft year-end financial statements do not reflect this transaction.

Senior management of Cyber is concerned about the new requirement to disclose management compensation figures. They want to avoid any criticism that their total compensation is not warranted based on Cyber's financial performance.

*Identify the accounting and audit issues*

1/ Short Corporation acquired Hathaway, Inc., for $43,600,000. The fair value of all Hathaway's identifiable tangible and intangible assets was $38,000,000. Short will amortize any goodwill over the maximum number of years allowed. What is the annual amortization of goodwill for this acquisition?

Multiple Choice

• $1,400,000.

• $0.

• $2,800,000.

• $5,600,000.

2/ Nanki Corporation purchased equipment on January 1, 2016, for $657,000. In 2016 and 2017, Nanki depreciated the asset on a straight-line basis with an estimated useful life of eight years and a $13,000 residual value. In 2018, due to changes in technology, Nanki revised the useful life to a total of 4 years with no residual value. What depreciation would Nanki record for the year 2018 on this equipment? (Round your answer to the nearest dollar amount.)

Multiple Choice

• $107,333.

• $105,882.

• $248,000.

• None of these answer choices are correct.

3/ Cutter Enterprises purchased equipment for $78,000 on January 1, 2018. The equipment is expected to have a five-year life and a residual value of $6,900.

Using the double-declining balance method, the book value at December 31, 2019, would be:

Multiple Choice

• $29,280.

• $15,600.

• $28,080.

• $27,180.

21/ On March 31, 2018, M. Belotti purchased the right to remove gravel from an old rock quarry. The gravel is to be sold as roadbed for highway construction. The cost of the quarry rights was $174,300, with estimated salable rock of 21,000 tons. During 2018, Belotti loaded and sold 5,000 tons of rock and estimated that 16,000 tons remained at December 31, 2018. At January 1, 2019, Belotti estimated that 15,000 tons still remained. During 2019, Belotti loaded and sold 10,000 tons. Belotti uses the units-of-production method.

Belotti would record depletion in 2019 of: (Round cost per ton to two decimal places.)

Multiple Choice

• $88,500.

• $90,700.

• $101,620.

• $91,780.

n 2018, the Westgate Construction Company entered into a contract to construct a road for Santa Clara County for $10,000,000. The road was completed in 2020. Information related to the contract is as follows:

Westgate recognizes revenue over time according to percentage of completion.

Required:
1. Calculate the amount of revenue and gross profit (loss) to be recognized in each of the three years.
2-a. In the journal below, complete the necessary journal entries for the year 2018 (credit "Various accounts" for construction costs incurred).
2-b. In the journal below, complete the necessary journal entries for the year 2019 (credit "Various accounts" for construction costs incurred).
2-c. In the journal below, complete the necessary journal entries for the year 2020 (credit "Various accounts" for construction costs incurred).
3. Complete the information required below to prepare a partial balance sheet for 2018 and 2019 showing any items related to the contract.
4. Calculate the amount of revenue and gross profit (loss) to be recognized in each of the three years assuming the following costs incurred and costs to complete information.

5. Calculate the amount of revenue and gross profit (loss) to be recognized in each of the three years assuming the following costs incurred and costs to complete information.

Calculate the amount of revenue and gross profit (loss) to be recognized in each of the three years. (Do not round intermediate calculations. Loss amounts should be indicated with a minus sign.)

In the journal below, complete the necessary journal entries for the year 2018 (credit "Various accounts" for construction costs incurred). (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)

1. Record construction costs. / 2. Record progress billings. / 3. Record cash collections. / 4. Record gross profit (loss)

In the journal below, complete the necessary journal entries for the year 2019 (credit "Various accounts" for construction costs incurred). (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)

2018: 1. Record construction costs.​ / 2. Record progress billings. / 3. Record cash collections. / 4. Record gross profit (loss).

In the journal below, complete the necessary journal entries for the year 2020 (credit "Various accounts" for construction costs incurred). (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)

1. Record construction costs.​ / 2. Record progress billings. / 3. Record cash collections. / 4. Record gross profit (loss).

Complete the information required below to prepare a partial balance sheet for 2018 and 2019 showing any items related to the contract. (Do not round intermediate calculations.)

What are some example of non-government organization of healthcare in KSA? Choose one of them and explain it in depth?

When in the duration of the loan is it optimal to do cash-out refinance? What about non-cashout refinance?