Questions
A large fast-food restaurant is having a promotional game where game pieces can be found on...

A large fast-food restaurant is having a promotional game where game pieces can be found on various products. Customers can win food or cash prizes. According to the company, the probability of winning a prize (large or small) with any eligible purchase is 0.131. Consider your next 32 purchases that produce a game piece. Calculate the following: This is a binomial distribution. Round your answers to at least 4 decimal places.

a) What is the probability that you win 5 prizes? 0.175 Incorrect

b) What is the probability that you win more than 6 prizes? 0.00177 Incorrect

c) What is the probability that you win between 2 and 5 (inclusive) prizes?

d) What is the probability that you win 3 prizes or fewer?

In: Statistics and Probability

Here are selected transactions of the Escobedo Shipping Service. Record a journal entry for each transaction.

 Here are selected transactions of the Escobedo Shipping Service. Record a journal entry for each transaction.

 TRANSACTIONS

 1. Gave a cash refund of $875 to a customer because of a lost package. (The customer had previously paid in cash.)

 2. Sent a check for $1,250 to the utility company to pay the monthly bill.

 3. Provided services for $8,700 on credit.

 4. Purchased new equipment for $6,400 and paid for it immediately by check.

 5. Issued a check for $5.300 to pay a creditor on account.

 6. Performed services for $16,775 in cash.

 7. Collected $6,250 from credit customers.

 8. The owner made an additional investment of $25,000 in cash.

 9. Purchased supplies for $2,350 on credit.

 10. Issued a check for $3,750 to pay the monthly rent.



In: Accounting

Parker Corp. develops computer video games for sale. A new development project which began in 2018...

Parker Corp. develops computer video games for sale. A new development project which began in 2018 reached technological feasibility at the end of Sept. 2019 and the project was available for release to customers early in 2020. Development costs incurred prior to Sept. 30 were $1,600,000 and costs incurred from Oct. 1 to product availability were $1,200,000. Revenues in 2020 from the sale of the new product were $4,000,000 and the company anticipates another $12,000,000 in revenues. The economic life of the software is 3 years.

(a) What amount should Parker capitalize as an intangible asset?

(b) What amount should be amortized in 2020?

(c) At the beginning of 2021, Parker estimates the net realizable value of the software to be $500,000. Prepare any entries required.

In: Accounting

HTB Corp. sells its virtual reality headset for $750. In addition to the headset, a customer...

HTB Corp. sells its virtual reality headset for $750. In addition to the headset, a customer receives an activation code to gain free access to a specific game that currently sells for $62.50. The activation code expires six months from the date of the purchase of the headset, and the company expects that 80% of customers will use the activation code. HTB sells 100 headsets during the month of October of 2019.Requirements:

1.How many performance obligations are included in the sale of the headset?

2.Allocate the transaction price to the different performance obligations.

3.Prepare the summary entry in October of 2019 to record the sale of the 100 headsets.

4.Assume that 60% of the activation codes are redeemed by 12/31/19.

Prepare the necessary adjusting entry.

In: Accounting

Nipomo Widget reviewed the following information from its accounting records for theyear ended December 31, 2011,...

Nipomo Widget reviewed the following information from its accounting records for theyear ended December 31, 2011, before adjustment:

Sales during 2011 $800,000

Credit Sales are 80% of sales

Collections from customers in 2011 590,000

Accounts Receivable 165,000

Allowance for Uncollectible Accounts

(before adjustment)

2,050 credit

Nipomo Widget uses the percent-of-sales method, at 1.5%, to estimate uncollectible accounts for 2011.

The president of the company wants to change to the aged accounts receivable method and estimates $7,500 as the uncollectible amount for 2011.

For each method of determining the estimate amount, you are to provide:

1. the adjusting Journal entry.

2. the ending balance in the Allowance account.

3. the net realizable value of accounts receivable.

In: Accounting

Develop estimated regression equations, first using annual income as the independent variable and then using household...

Develop estimated regression equations, first using annual income as the independent variable and then using household size as the independent variable. Which variable is the better predictor of annual credit card charges? Discuss your findings -

Income
($1000s)		 Household
Size		 Amount
Charged ($)
54 3 4,016
30 2 3,159
32 4 5,100
50 5 4,742
31 2 1,864
55 2 4,070
37 1 2,731
40 2 3,348
66 4 4,764
51 3 4,110
25 3 4,208
48 4 4,219
27 1 2,477
33 2 2,514
65 3 4,214
63 4 4,965
42 6 4,412
21 2 2,448
44 1 2,995
37 5 4,171
62 6 5,678
21 3 3,623
55 7 5,301
42 2 3,020
41 7 4,828
54 6 5,573
30 1 2,583
48 2 3,866
34 5 3,586
67 4 5,037
50 2 3,605
67 5 5,345
55 6 5,370
52 2 3,890
62 3 4,705
64 2 4,157
22 3 3,579
29 4 3,890
39 2 2,972
35 1 3,121
39 4 4,183
54 3 3,730
23 6 4,127
27 2 2,921
26 7 4,603
61 2 4,273
30 2 3,067
22 4 3,074
46 5 4,820
66 4 5,149

In: Statistics and Probability

Develop estimated regression equations, first using annual income as the independent variable and then using household...

Develop estimated regression equations, first using annual income as the independent variable and then using household size as the independent variable. Which variable is the better predictor of annual credit card charges? Discuss your findings -

Income
($1000s)		 Household
Size		 Amount
Charged ($)
54 3 4,016
30 2 3,159
32 4 5,100
50 5 4,742
31 2 1,864
55 2 4,070
37 1 2,731
40 2 3,348
66 4 4,764
51 3 4,110
25 3 4,208
48 4 4,219
27 1 2,477
33 2 2,514
65 3 4,214
63 4 4,965
42 6 4,412
21 2 2,448
44 1 2,995
37 5 4,171
62 6 5,678
21 3 3,623
55 7 5,301
42 2 3,020
41 7 4,828
54 6 5,573
30 1 2,583
48 2 3,866
34 5 3,586
67 4 5,037
50 2 3,605
67 5 5,345
55 6 5,370
52 2 3,890
62 3 4,705
64 2 4,157
22 3 3,579
29 4 3,890
39 2 2,972
35 1 3,121
39 4 4,183
54 3 3,730
23 6 4,127
27 2 2,921
26 7 4,603
61 2 4,273
30 2 3,067
22 4 3,074
46 5 4,820
66 4 5,149

In: Statistics and Probability

Develop an estimated regression equation with annual income and household size as the independent variables. Discuss...

Develop an estimated regression equation with annual income and household size as the independent variables. Discuss your findings -

Income
($1000s)		 Household
Size		 Amount
Charged ($)
54 3 4,016
30 2 3,159
32 4 5,100
50 5 4,742
31 2 1,864
55 2 4,070
37 1 2,731
40 2 3,348
66 4 4,764
51 3 4,110
25 3 4,208
48 4 4,219
27 1 2,477
33 2 2,514
65 3 4,214
63 4 4,965
42 6 4,412
21 2 2,448
44 1 2,995
37 5 4,171
62 6 5,678
21 3 3,623
55 7 5,301
42 2 3,020
41 7 4,828
54 6 5,573
30 1 2,583
48 2 3,866
34 5 3,586
67 4 5,037
50 2 3,605
67 5 5,345
55 6 5,370
52 2 3,890
62 3 4,705
64 2 4,157
22 3 3,579
29 4 3,890
39 2 2,972
35 1 3,121
39 4 4,183
54 3 3,730
23 6 4,127
27 2 2,921
26 7 4,603
61 2 4,273
30 2 3,067
22 4 3,074
46 5 4,820
66 4 5,149

In: Statistics and Probability

What is the predicted annual credit card charge for a three-person household with an annual income...

What is the predicted annual credit card charge for a three-person household with an annual income of $40,000 (show your work) -

Income
($1000s)		 Household
Size		 Amount
Charged ($)
54 3 4,016
30 2 3,159
32 4 5,100
50 5 4,742
31 2 1,864
55 2 4,070
37 1 2,731
40 2 3,348
66 4 4,764
51 3 4,110
25 3 4,208
48 4 4,219
27 1 2,477
33 2 2,514
65 3 4,214
63 4 4,965
42 6 4,412
21 2 2,448
44 1 2,995
37 5 4,171
62 6 5,678
21 3 3,623
55 7 5,301
42 2 3,020
41 7 4,828
54 6 5,573
30 1 2,583
48 2 3,866
34 5 3,586
67 4 5,037
50 2 3,605
67 5 5,345
55 6 5,370
52 2 3,890
62 3 4,705
64 2 4,157
22 3 3,579
29 4 3,890
39 2 2,972
35 1 3,121
39 4 4,183
54 3 3,730
23 6 4,127
27 2 2,921
26 7 4,603
61 2 4,273
30 2 3,067
22 4 3,074
46 5 4,820
66 4 5,149

In: Statistics and Probability

Journal Entries and Trial Balance On October 1, 2018, Jay Pryor established an interior decorating business,...

Journal Entries and Trial Balance

On October 1, 2018, Jay Pryor established an interior decorating business, Pioneer Designs. During the month, Jay completed the following transactions related to the business:

Oct. 1 Jay transferred cash from a personal bank account to an account to be used for the business in exchange for common stock, $23,700.
4 Paid rent for period of October 4 to end of month, $2,300.
10 Purchased a used truck for $20,000, paying $2,000 cash and giving a note payable for the remainder.
13 Purchased equipment on account, $9,240.
14 Purchased supplies for cash, $1,590.
15 Paid annual premiums on property and casualty insurance, $3,560.
15 Received cash for job completed, $9,950.

Enter the following transactions on Page 2 of the two-column journal:

21 Paid creditor a portion of the amount owed for equipment purchased on October 13, $3,290.
24 Recorded jobs completed on account and sent invoices to customers, $11,330.
26 Received an invoice for truck expenses, to be paid in November, $1,040.
27 Paid utilities expense, $1,190.
27 Paid miscellaneous expenses, $430.
29 Received cash from customers on account, $4,740.
30 Paid wages of employees, $3,150.
31

Paid dividends, $2,630.

2. Post (in chronological order) the journal to a ledger of four-column accounts, inserting appropriate posting references in the general journal as each item is posted. Extend the balances to the appropriate balance columns after each transaction is posted. If an amount box does not require an entry, leave it blank.

General Ledger
Account Cash ACCOUNT NO. 11
Balance
Date Item Post. Ref. Debit Credit Debit Credit
2018
Oct. 1 1
Oct. 4 1
Oct. 10 1
Oct. 14 1
Oct. 15 1
Oct. 15 1
Oct. 21 2
Oct. 27 2
Oct. 27 2
Oct. 29 2
Oct. 30 2
Oct. 31 2

Account Accounts Receivable ACCOUNT NO. 12
Balance
Date Item Post. Ref. Debit Credit Debit Credit
2018
Oct. 24 2
Oct. 29 2

Account Supplies ACCOUNT NO. 13
Balance
Date Item Post. Ref. Debit Credit Debit Credit
2018
Oct. 14 1

Account Prepaid Insurance ACCOUNT NO. 14
Balance
Date Item Post. Ref. Debit Credit Debit Credit
2018
Oct. 15 1

Account Equipment ACCOUNT NO. 16
Balance
Date Item Post. Ref. Debit Credit Debit Credit
2018
Oct. 13 1

Account Truck ACCOUNT NO. 18
Balance
Date Item Post. Ref. Debit Credit Debit Credit
2018
Oct. 10 1

Account Notes Payable ACCOUNT NO. 21
Balance
Date Item Post. Ref. Debit Credit Debit Credit
2018
Oct. 10 1

Account Accounts Payable ACCOUNT NO. 22
Balance
Date Item Post. Ref. Debit Credit Debit Credit
2018
Oct. 13 1
Oct. 21 2
Oct. 26 2

Account Common Stock ACCOUNT NO. 31
Balance
Date Item Post. Ref. Debit Credit Debit Credit
2018
Oct. 1 1

Account Dividends ACCOUNT NO. 33
Balance
Date Item Post. Ref. Debit Credit Debit Credit
2018
Oct. 31 2

Account Fees Earned ACCOUNT NO. 41
Balance
Date Item Post. Ref. Debit Credit Debit Credit
2018
Oct. 15 1
Oct. 24 2

Account Wages Expense ACCOUNT NO. 51
Balance
Date Item Post. Ref. Debit Credit Debit Credit
2018
Oct. 30 2

Account Rent Expense ACCOUNT NO. 53
Balance
Date Item Post. Ref. Debit Credit Debit Credit
2018
Oct. 4 1

Account Utilities Expense ACCOUNT NO. 54
Balance
Date Item Post. Ref. Debit Credit Debit Credit
2018
Oct. 27 2

Account Truck Expense ACCOUNT NO. 55
Balance
Date Item Post. Ref. Debit Credit Debit Credit
2018
Oct. 26 2

Account Miscellaneous Expense ACCOUNT NO. 59
Balance
Date Item Post. Ref. Debit Credit Debit Credit
2018
Oct. 27 2

In: Accounting