I would just like to know if ANOVA would be the correct test to use for the following problem below?

Fancy Fish, a fine dining upscale restaurant in Northridge, California and 2016 Open Table Diners’ Choice award winner, is enjoying its eighteenth season of providing delectable food, exceptional service, and beautiful outdoor dining experiences. “Saturday - Half-off Bottled Wine Night” has made Fancy Fish one of the San Fernando Valley’s favorite restaurants. Every Saturday night, guests can enjoy half-off every bottle of wine on the wine list while dining in the restaurant or on the terrace. The owner began offering “Saturday - Half-off Bottled Wine Night” in 2010 as an incentive for guests to dine at Fancy Fish when the economy was in a recession. Now that the economy is booming, the owner is considering whether the promotion should be continued, or even expanded. One concern is the effect that the promotion is having on the overall revenue generated from sales to the participants.

A random sample of 28 checks was collected over the course of one month of Saturday nights. Fourteen checks were from customers participating in the half-off promotion, and the other 14 checks were from customers not participating. The total revenue from each check (less alcohol, tax, and tip) is presented below. Do these data present sufficient evidence that the checks of participants is significantly different from checks of non-participants? What is your recommendation to the owner regarding the status of the promotion?

West Laboratory provides service The trial balance at 30 September 2019, before adjustments is as follows:

The following information relates to month end adjustments:

1. The useful life of the equipment was estimated to be 4 years with no residual value. West Laboratory uses straight-line method to calculate depreciation.

2. A few customers pay in advance for the laboratory services provided by West Laboratory. Fees of $6,000 were earned during the month by providing service to customers who had paid in advance.

3. Salaries earned by employees during the month but not yet recorded amounted to $23,000.

4. On 1 July 2019, West Laboratory prepaid $42,000 for 6 months’ rent for the period from July to December 2019.

5. On 1 January 2019, West Laboratory prepaid an insurance of $4,800 for the year from 1st January to 31st December 2019.

6. Medical service provided during the month but not yet billed or recorded amounted to

$4,600.

Required:

1. Prepare the adjusting entries for the month of September 2019.

1. Prepare an income statement after the above adjustments.

(c) The president of West Laboratory was informed that the financial statements would be available "as soon as the adjusting entries are made." Being a non-accountant, the president feels adjustments should not be necessary if the accounting department is operating in a competent manner. Does the need for adjusting entries at the end of the period imply that transactions are not being recorded properly? Why adjusting entries are needed? Explain.

Rock Solid Bank and Trust (RSB&T) offers only checking accounts. Customers can write checks and use a network of automated teller machines. RSB&T earns revenue by investing the money deposited; currently, it averages 5.90 percent annually on its investments of those deposits. To compete with larger banks, RSB&T pays depositors 0.50 percent on all deposits. A recent study classified the bank’s annual operating costs into four activities.

Data on two representative customers follow.

A. Compute RSB&T's operating profits.

B. Compute the profit from Customer A and Customer B, assuming that customer costs are based only on deposits. Interest costs = {{0.5:#,##0.00}} percent of deposits; operating costs are 4 percent (= $25,500,000/$637,500,000) of deposits. (Do not round intermediate calculations. Round your answers to 2 decimal places.)

C. Compute the profit from Customer A and Customer B, assuming that customer costs are computed using the information in the activity-based costing analysis. (Do not round intermediate calculations. Round your answers to 2 decimal places. Loss amounts should be indicated by a minus sign.)

Benson Brands, Inc. Benson, presents its statement of cash flows using the indirect method. The following accounts and corresponding balances were drawn from Benson’s 2017 and 2016 year-end balance sheets:

The 2017 income statement is shown below:

Required

1. Prepare the operating activities section of the statement of cash flows using the direct method.

2. Prepare the operating activities section of the statement of cash flows using the indirect method.

Prepare the operating activities section of the statement of cash flows using the direct method. (Cash outflows should be indicated with minus sign.)

Prepare the operating activities section of the statement of cash flows using the indirect method. (Amounts to be deducted should be indicated with a minus sign.)

Benson Brands, Inc. Benson, presents its statement of cash flows using the indirect method. The following accounts and corresponding balances were drawn from Benson’s 2017 and 2016 year-end balance sheets:

The 2017 income statement is shown below:

Required

1. Prepare the operating activities section of the statement of cash flows using the direct method.

2. Prepare the operating activities section of the statement of cash flows using the indirect method.

Prepare the operating activities section of the statement of cash flows using the direct method. (Cash outflows should be indicated with minus sign.)

Prepare the operating activities section of the statement of cash flows using the indirect method. (Amounts to be deducted should be indicated with a minus sign.)

1. In perfect competition...

a. each firm is a large part of the industry

b. the price equals the marginal revenue

c.a firm profit maximizes where total revenue equals total variable cost

d. firms use advertising to differentiate products

2. In monopoly...

a. the marginal revenue is greater than the average revenue

b. abnormal profits can be earned in the long run

c. firms are allocatively efficient

d. firms produce where average costs equal marginal costs

3. When a firm charges a different price for the same product this is called:

a. Price discrimination

b. Price differentiation

c. Price determination

d. Price distinction

3. If a business is charging different prices depending on demand conditions, it will have the highest price when the price elasticity of demand is:

a. - 2

b. - 5

c. - 0.8

d. - 0.01

4. Which of the following is NOT a barrier to entry?

a. patents

b. the need for a licence to operate

c. low economies of scale

d. well established brands

Fill in the missing numbers from some slightly modified recent Financial Statements. If I list an account area, that account areas is correct.

Deferred income taxes (current asset) 5,

Total current liabilities 93,

Total current assets 101,

Deferred revenue (Current liability) 10,

Long-term investments 4,

Short-term investments 4,

Total liabilities 218,

Other current assets 3,

Short-term borrowings 21,

Total assets 318,

Accounts payable 49,

Gross margin 195,

Preferred stock ($5 par) 12,

Merchandise inventory 76,

Deferred income taxes (Long term liability) 2,

Current maturities of long-term debt 5,

Other Long Term Assets 13,

Net earnings 27,

Capital in excess of par value 4,

Retained earnings 76,

Accumulated other comprehensive loss (Equity) -2,

Cost of sales 366,

Dividends 8,

Other Long Term liabilities 8,

Pre-tax earnings 43,

Selling, general and administrative 132,

EBIT 48,

Deferred revenue – long-term protection plans (Long term Liability) 7,

Addition to Retained Earnings ________, Total liabilities and shareholders' equity ________, Cash and cash equivalents _______ , Income tax provision ________, Net sales _________ , Long-term debt ________, Common stock ($.50 par) __________ , Interest Expense – net ________, Depreciation ________ , Accrued compensation ________, Property, less accumulated depreciation _______ .

ANSWER OPTIONS (MATCH LETTERS AND NUMBERS):

Identifying and Analyzing Financial Statement Effects of Share-Based Compensation
Weaver Industries implements a new share-based compensation plan in 2014. Under the plan, the company's CEO and CFO each will receive non-qualified stock options to purchase 100,000, no par shares. The options vest ratably (1/3 of the options each year) over three years, expire in 10 years, and have an exercise (strike) price of $27 per share. Weaver uses the Black-Scholes model to estimate a fair-value per option of $18.  

(a) Use the financial statement effects template to record the compensation expense related to these options for each year 2014 through 2016.

Use negative signs with answers, when appropriate.

(b) In 2017, the company's stock price is $24. If you were the Weaver Industries CEO, would you exercise your options? Explain.

Because the stock price is per share, the Weaver CEO should exercise the options because she can immediately sell them for that amount.

Because the stock price is per share, the Weaver CEO can immediately recognize a gain of $3 per share by exercising the options.

Because the stock price is per share, no gain or loss would be recognized if the Weaver CEO exercises her options and immediately sold her shares.

Because the stock price is per share, the options are under-water (out of the money) and the Weaver CEO should not exercise the options.

(c) In 2019, the company's stock price is $46 and the CEO exercises all of her options. Use the financial statement effects template to record the exercise.