Questions
Write the equation of the line. What is r? What is r squared? Using the equation...

Write the equation of the line.
What is r?
What is r squared?
Using the equation of the line if x is 25 what is y?
Using the equation of the line if y is 20 what is x.
x 25 32 27 24 26 18 20 23 20 16 19 15 20 27 27
y 28 34 36 28 31 22 24 26 24 23 22 13 23 35 29

In: Statistics and Probability

The following accounts, with the balances indicated, appear in the ledger of Garcon Co. on December...

The following accounts, with the balances indicated, appear in the ledger of Garcon Co. on December 1 of the current year:

Account No. Account Name Balance
211 Salaries Payable —
212 Social Security Tax Payable $9,280
213 Medicare Tax Payable 2,302
214 Employees Federal Income Tax Payable 15,430
215 Employees State Income Tax Payable 13,912
216 State Unemployment Tax Payable 1,340
217 Federal Unemployment Tax Payable 480
218 Bond Deductions Payable $3,400
219 Medical Insurance Payable 22,200
411 Operations Salaries Expense 920,000
511 Officers Salaries Expense 640,000
512 Office Salaries Expense 160,000
519 Payroll Tax Expense 136,551

The following transactions relating to payroll, payroll deductions, and payroll taxes occurred during December:

On page 10 of the journal:

Dec. 2 Issued Check No. 410 for $3,400 to Jay Bank to purchase U.S. savings bonds for employees.
2 Issued Check No. 411 to Jay Bank for $27,012 in payment of $9,280 of social security tax, $2,302 of Medicare tax, and $15,430 of employees’ federal income tax due.
13 Journalized the entry to record the biweekly payroll. A summary of the payroll record follows:
Salary distribution:
Operations $42,400
Officers 26,000
Office 6,800 $75,200
Deductions:
Social security tax $ 4,512
Medicare tax 1,128
Federal income tax withheld 15,040
State income tax withheld 3,384
Savings bond deductions 1,700
Medical insurance deductions 3,700 29,464
Net amount $45,736
13 Issued Check No. 420 in payment of the net amount of the biweekly payroll.
13 Journalized the entry to record payroll taxes on employees’ earnings of December 13: social security tax, $4,512; Medicare tax, $1,128; state unemployment tax, $350; federal unemployment tax, $115.
16 Issued Check No. 424 to Jay Bank for $26,320, in payment of $9,024 of social security tax, $2,256 of Medicare tax, and $15,040 of employees’ federal income tax due.
19 Issued Check No. 429 to Sims-Walker Insurance Company for $25,900 in payment of the semiannual premium on the group medical insurance policy.

On page 11 of the journal:

Dec. 27 Journalized the entry to record the biweekly payroll. A summary of the payroll record follows:
Salary distribution:
Operations $42,000
Officers 26,800
Office 7,000 $75,800
Deductions:
Social security tax $ 4,548
Medicare tax 1,137
Federal income tax withheld 15,004
State income tax withheld 3,411
Savings bond deductions 1,700 25,800
Net amount $50,000
27 Issued Check No. 541 in payment of the net amount of the biweekly payroll.
27 Journalized the entry to record payroll taxes on employees’ earnings of December 27: social security tax, $4,548; Medicare tax, $1,137; state unemployment tax, $210; federal unemployment tax, $70.
27 Issued Check No. 543 for $20,707 to State Department of Revenue in payment of employees’ state income tax due on December 31.
31 Issued Check No. 545 to Jay Bank for $3,400 to purchase U.S. savings bonds for employees.
31 Paid $60,000 to the employee pension plan. The annual pension cost is $80,000. (Record both the payment and unfunded pension liability.)
Required:
1. Journalize the transactions on pages 10 and 11 of the journal. Refer to the Chart of Accounts for exact wording of account titles.
2. On page 12 of the journal, journalize the following adjusting entries on December 31 (refer to the Chart of Accounts for exact wording of account titles):
a. Salaries accrued: operations salaries, $8,590; officers salaries, $5,560; office salaries, $1,450. The payroll taxes are immaterial and are not accrued.
b. Vacation pay, $15,000.

In: Accounting

The following accounts, with the balances indicated, appear in the ledger of Garcon Co. on December...

The following accounts, with the balances indicated, appear in the ledger of Garcon Co. on December 1 of the current year: Account No. Account Name Balance 211 Salaries Payable — 212 Social Security Tax Payable $9,280 213 Medicare Tax Payable 2,320 214 Employees Federal Income Tax Payable 15,460 215 Employees State Income Tax Payable 13,908 216 State Unemployment Tax Payable 1,320 217 Federal Unemployment Tax Payable 550 218 Bond Deductions Payable $3,800 219 Medical Insurance Payable 19,800 411 Operations Salaries Expense 960,000 511 Officers Salaries Expense 600,000 512 Office Salaries Expense 150,000 519 Payroll Tax Expense 137,951 The following transactions relating to payroll, payroll deductions, and payroll taxes occurred during December: On page 10 of the journal: Dec. 2 Issued Check No. 410 for $3,800 to Jay Bank to purchase U.S. savings bonds for employees. 2 Issued Check No. 411 to Jay Bank for $27,060 in payment of $9,280 of social security tax, $2,320 of Medicare tax, and $15,460 of employees’ federal income tax due. 13 Journalized the entry to record the biweekly payroll. A summary of the payroll record follows: Salary distribution: Operations $41,000 Officers 27,600 Office 6,400 $75,000 Deductions: Social security tax $ 4,500 Medicare tax 1,125 Federal income tax withheld 15,000 State income tax withheld 3,375 Savings bond deductions 1,900 Medical insurance deductions 3,300 29,200 Net amount $45,800 13 Issued Check No. 420 in payment of the net amount of the biweekly payroll. 13 Journalized the entry to record payroll taxes on employees’ earnings of December 13: social security tax, $4,500; Medicare tax, $1,125; state unemployment tax, $330; federal unemployment tax, $115. 16 Issued Check No. 424 to Jay Bank for $26,250, in payment of $9,000 of social security tax, $2,250 of Medicare tax, and $15,000 of employees’ federal income tax due. 19 Issued Check No. 429 to Sims-Walker Insurance Company for $23,100 in payment of the semiannual premium on the group medical insurance policy. On page 11 of the journal: Dec. 27 Journalized the entry to record the biweekly payroll. A summary of the payroll record follows: Salary distribution: Operations $40,600 Officers 28,400 Office 6,600 $75,600 Deductions: Social security tax $ 4,536 Medicare tax 1,134 Federal income tax withheld 14,964 State income tax withheld 3,402 Savings bond deductions 1,900 25,936 Net amount $49,664 27 Issued Check No. 541 in payment of the net amount of the biweekly payroll. 27 Journalized the entry to record payroll taxes on employees’ earnings of December 27: social security tax, $4,536; Medicare tax, $1,134; state unemployment tax, $230; federal unemployment tax, $65. 27 Issued Check No. 543 for $20,685 to State Department of Revenue in payment of employees’ state income tax due on December 31. 31 Issued Check No. 545 to Jay Bank for $3,800 to purchase U.S. savings bonds for employees. 31 Paid $51,000 to the employee pension plan. The annual pension cost is $68,000. (Record both the payment and unfunded pension liability.) Required: 1. Journalize the transactions on pages 10 and 11 of the journal. Refer to the Chart of Accounts for exact wording of account titles. 2. On page 12 of the journal, journalize the following adjusting entries on December 31 (refer to the Chart of Accounts for exact wording of account titles): A. Salaries accrued: operations salaries, $8,540; officers salaries, $5,640; office salaries, $1,390. The payroll taxes are immaterial and are not accrued. B. Vacation pay, $14,700.

In: Accounting

The following accounts, with the balances indicated, appear in the ledger of Garcon Co. on December...

The following accounts, with the balances indicated, appear in the ledger of Garcon Co. on December 1 of the current year:

Account No.

Account Name

Balance
211 Salaries Payable —
212 Social Security Tax Payable $9,280
213 Medicare Tax Payable 2,316
214 Employees Federal Income Tax Payable 15,405
215 Employees State Income Tax Payable 13,920
216 State Unemployment Tax Payable 1,440
217 Federal Unemployment Tax Payable 430
218 U.S. Saving Bond Deductions Payable $3,200
219 Medical Insurance Payable 24,600
411 Operations Salaries Expense 940,000
511 Officers Salaries Expense 640,000
512 Office Salaries Expense 150,000
519 Payroll Tax Expense 136,151

The following transactions relating to payroll, payroll deductions, and payroll taxes occurred during December:

On page 10 of the journal:

Dec. 2 Issued Check No. 410 for $3,200 to Jay Bank to purchase U.S. savings bonds for employees.
2 Issued Check No. 411 to Jay Bank for $27,001 in payment of $9,280 of social security tax, $2,316 of Medicare tax, and $15,405 of employees’ federal income tax due.
13 Journalized the entry to record the biweekly payroll. A summary of the payroll record follows:
Salary distribution:
Operations $40,600
Officers 27,000
Office 6,400 $74,000
Deductions:
Social security tax $ 4,440
Medicare tax 1,110
Federal income tax withheld 14,800
State income tax withheld 3,330
Savings bond deductions 1,600
Medical insurance deductions 4,100 29,380
Net amount $44,620
13 Issued Check No. 420 in payment of the net amount of the biweekly payroll.
13 Journalized the entry to record payroll taxes on employees’ earnings of December 13: social security tax, $4,440; Medicare tax, $1,110; state unemployment tax, $350; federal unemployment tax, $110.
16 Issued Check No. 424 to Jay Bank for $25,900, in payment of $8,880 of social security tax, $2,220 of Medicare tax, and $14,800 of employees’ federal income tax due.
19 Issued Check No. 429 to Sims-Walker Insurance Company for $28,700 in payment of the semiannual premium on the group medical insurance policy.

On page 11 of the journal:

Dec. 27 Journalized the entry to record the biweekly payroll. A summary of the payroll record follows:
Salary distribution:
Operations $40,200
Officers 27,800
Office 6,600 $74,600
Deductions:
Social security tax $ 4,476
Medicare tax 1,119
Federal income tax withheld 14,764
State income tax withheld 3,357
Savings bond deductions 1,600 25,316
Net amount $49,284
27 Issued Check No. 541 in payment of the net amount of the biweekly payroll.
27 Journalized the entry to record payroll taxes on employees’ earnings of December 27: social security tax, $4,476; Medicare tax, $1,119; state unemployment tax, $220; federal unemployment tax, $80.
27 Issued Check No. 543 for $20,607 to State Department of Revenue in payment of employees’ state income tax due on December 31.
31 Issued Check No. 545 to Jay Bank for $3,200 to purchase U.S. savings bonds for employees.
31 Paid $48,000 to the employee pension plan. The annual pension cost is $64,000. (Record both the payment and unfunded pension liability.)
Required:
1. Journalize the transactions on pages 10 and 11 of the journal. Refer to the Chart of Accounts for exact wording of account titles.
2. On page 12 of the journal, journalize the following adjusting entries on December 31 (refer to the Chart of Accounts for exact wording of account titles):
a. Salaries accrued: operations salaries, $8,570; officers salaries, $5,610; office salaries, $1,380. The payroll taxes are immaterial and are not accrued.
b. Vacation pay, $15,400.

In: Accounting

The following accounts, with the balances indicated, appear in the ledger of Garcon Co. on December...

The following accounts, with the balances indicated, appear in the ledger of Garcon Co. on December 1 of the current year:

Account No. Account Name Balance
211 Salaries Payable —
212 Social Security Tax Payable $9,273
213 Medicare Tax Payable 2,318
214 Employees Federal Income Tax Payable 15,455
215 Employees State Income Tax Payable 13,909
216 State Unemployment Tax Payable 1,400
217 Federal Unemployment Tax Payable 500
218 Bond Deductions Payable $ 3,400
219 Medical Insurance Payable 27,000
411 Operations Salaries Expense 950,000
511 Officers Salaries Expense 600,000
512 Office Salaries Expense 150,000
519 Payroll Tax Expense 137,951

The following transactions relating to payroll, payroll deductions, and payroll taxes occurred during December:

On page 10 of the journal:

Dec. 2 Issued Check No. 410 for $3,400 to Jay Bank to purchase U.S. savings bonds for employees.
2 Issued Check No. 411 to Jay Bank for $27,046 in payment of $9,273 of social security tax, $2,318 of Medicare tax, and $15,455 of employees’ federal income tax due.
13 Journalized the entry to record the biweekly payroll. A summary of the payroll record follows:
Salary distribution:
Operations $43,200
Officers 27,200
Office 6,800 $77,200
Deductions:
Social security tax $ 4,632
Medicare tax 1,158
Federal income tax withheld 15,440
State income tax withheld 3,474
Savings bond deductions 1,700
Medical insurance deductions 4,500 30,904
Net amount $46,296
13 Issued Check No. 420 in payment of the net amount of the biweekly payroll.
13 Journalized the entry to record payroll taxes on employees’ earnings of December 13: social security tax, $4,632; Medicare tax, $1,158; state unemployment tax, $350; federal unemployment tax, $125.
16 Issued Check No. 424 to Jay Bank for $27,020, in payment of $9,264 of social security tax, $2,316 of Medicare tax, and $15,440 of employees’ federal income tax due.
19 Issued Check No. 429 to Sims-Walker Insurance Company for $31,500 in payment of the semiannual premium on the group medical insurance policy.

On page 11 of the journal:

Dec. 27 Journalized the entry to record the biweekly payroll. A summary of the payroll record follows:
Salary distribution:
Operations $42,800
Officers 28,000
Office 7,000 $77,800
Deductions:
Social security tax $ 4,668
Medicare tax 1,167
Federal income tax withheld 15,404
State income tax withheld 3,501
Savings bond deductions 1,700 26,440
Net amount $51,360
27 Issued Check No. 541 in payment of the net amount of the biweekly payroll.
27 Journalized the entry to record payroll taxes on employees’ earnings of December 27: social security tax, $4,668; Medicare tax, $1,167; state unemployment tax, $225; federal unemployment tax, $75.
27 Issued Check No. 543 for $20,884 to State Department of Revenue in payment of employees’ state income tax due on December 31.
31 Issued Check No. 545 to Jay Bank for $3,400 to purchase U.S. savings bonds for employees.
31 Paid $45,000 to the employee pension plan. The annual pension cost is $60,000. (Record both the payment and unfunded pension liability.)
Required:
1. Journalize the transactions on pages 10 and 11 of the journal. Refer to the Chart of Accounts for exact wording of account titles.
2. On page 12 of the journal, journalize the following adjusting entries on December 31 (refer to the Chart of Accounts for exact wording of account titles):
a. Salaries accrued: operations salaries, $8,560; officers salaries, $5,600; office salaries, $1,400. The payroll taxes are immaterial and are not accrued.
b. Vacation pay, $15,000.

In: Accounting

The following accounts, with the balances indicated, appear in the ledger of Garcon Co. on December...

The following accounts, with the balances indicated, appear in the ledger of Garcon Co. on December 1 of the current year:

Account No.

Account Name

Balance
211 Salaries Payable —
212 Social Security Tax Payable $9,280
213 Medicare Tax Payable 2,316
214 Employees Federal Income Tax Payable 15,405
215 Employees State Income Tax Payable 13,920
216 State Unemployment Tax Payable 1,440
217 Federal Unemployment Tax Payable 430
218 U.S. Saving Bond Deductions Payable $3,200
219 Medical Insurance Payable 24,600
411 Operations Salaries Expense 940,000
511 Officers Salaries Expense 640,000
512 Office Salaries Expense 150,000
519 Payroll Tax Expense 136,151

The following transactions relating to payroll, payroll deductions, and payroll taxes occurred during December:

On page 10 of the journal:

Dec. 2 Issued Check No. 410 for $3,200 to Jay Bank to purchase U.S. savings bonds for employees.
2 Issued Check No. 411 to Jay Bank for $27,001 in payment of $9,280 of social security tax, $2,316 of Medicare tax, and $15,405 of employees’ federal income tax due.
13 Journalized the entry to record the biweekly payroll. A summary of the payroll record follows:
Salary distribution:
Operations $40,600
Officers 27,000
Office 6,400 $74,000
Deductions:
Social security tax $ 4,440
Medicare tax 1,110
Federal income tax withheld 14,800
State income tax withheld 3,330
Savings bond deductions 1,600
Medical insurance deductions 4,100 29,380
Net amount $44,620
13 Issued Check No. 420 in payment of the net amount of the biweekly payroll.
13 Journalized the entry to record payroll taxes on employees’ earnings of December 13: social security tax, $4,440; Medicare tax, $1,110; state unemployment tax, $350; federal unemployment tax, $110.
16 Issued Check No. 424 to Jay Bank for $25,900, in payment of $8,880 of social security tax, $2,220 of Medicare tax, and $14,800 of employees’ federal income tax due.
19 Issued Check No. 429 to Sims-Walker Insurance Company for $28,700 in payment of the semiannual premium on the group medical insurance policy.

On page 11 of the journal:

Dec. 27 Journalized the entry to record the biweekly payroll. A summary of the payroll record follows:
Salary distribution:
Operations $40,200
Officers 27,800
Office 6,600 $74,600
Deductions:
Social security tax $ 4,476
Medicare tax 1,119
Federal income tax withheld 14,764
State income tax withheld 3,357
Savings bond deductions 1,600 25,316
Net amount $49,284
27 Issued Check No. 541 in payment of the net amount of the biweekly payroll.
27 Journalized the entry to record payroll taxes on employees’ earnings of December 27: social security tax, $4,476; Medicare tax, $1,119; state unemployment tax, $220; federal unemployment tax, $80.
27 Issued Check No. 543 for $20,607 to State Department of Revenue in payment of employees’ state income tax due on December 31.
31 Issued Check No. 545 to Jay Bank for $3,200 to purchase U.S. savings bonds for employees.
31 Paid $48,000 to the employee pension plan. The annual pension cost is $64,000. (Record both the payment and unfunded pension liability.)
Required:
1. Journalize the transactions on pages 10 and 11 of the journal. Refer to the Chart of Accounts for exact wording of account titles.
2. On page 12 of the journal, journalize the following adjusting entries on December 31 (refer to the Chart of Accounts for exact wording of account titles):
a. Salaries accrued: operations salaries, $8,570; officers salaries, $5,610; office salaries, $1,380. The payroll taxes are immaterial and are not accrued.
b. Vacation pay, $15,400.

In: Accounting

Pirates Incorporated had the following balances at the beginning of September.    PIRATES INCORPORATED Trial Balance...

Pirates Incorporated had the following balances at the beginning of September.
  

PIRATES INCORPORATED
Trial Balance
September 1
Accounts Debits Credits
Cash $ 5,000
Accounts Receivable 1,000
Supplies 6,100
Land 9,700
Accounts Payable $ 6,000
Notes Payable 1,500
Common Stock 7,500
Retained Earnings 6,800
Totals $ 21,800 $ 21,800

The following transactions occur in September.

Record each of the transactions listed above in the 'General Journal' tab (these are shown as items 1 - 11). Review the 'General Ledger' and the 'Trial Balance' tabs to see the effect of the transactions on the account balances.

September 1 Provide services to customers for cash, $3,200.
September 2 Purchase land with a long-term note for $4,900 from Crimson Company.
September 4 Receive an invoice for $350 from the local newspaper for an advertisement that appeared on September 2.
September 8 Provide services to customers on account for $4,500.
September 10 Purchase supplies on account for $1,000.
September 13 Pay $2,500 to Crimson Company for a long-term note.
September 18 Receive $3,500 from customers on account.
September 20 Pay $750 for September's rent.
September 30 Pay September's utility bill of $1,250.
September 30 Pay employees $2,500 for salaries for the month of September.
September 30

Pay a cash dividend of $1,000 to shareholders.

In: Accounting

Question 1: In order to get a better understanding of which types of people buy their...

Question 1: In order to get a better understanding of which types of people buy their product, a large company wanted to estimate the proportion of customers who are considered low income. They took a random sample (a very small subset) of 500 customers and found that 210 were low income.

a) Check to see if conditions (there are 4) are met to have a valid confidence interval.

b) What would happen to the distribution of sample proportions if one the first three conditions are not met (sample size conditions)?

c) Construct an approximate 95% confidence interval for the proportion of low-income customers.

d) Interpret the interval found in “c”.
e) Calculate the confidence interval width of the interval created in “c”
f) If were to calculate an 85% confidence interval what z* values would you use? g) What do the values in “f” represent conceptually?
h) Which confidence interval would be more precise (smaller width); 95% or 85%?

i) Before the company took its initial sample (They did not take the 500 observation sample yet), they ideally wanted to have a confidence interval width of 0.048 when creating an approximate 95% confidence interval. What is the least amount of people they needed to sample in order to guarantee there confidence interval width would not be larger than 0.048.

In: Statistics and Probability

Photographic laboratories recover and recycle the silver used in photographic film. Stikine River Photo is considering...

Photographic laboratories recover and recycle the silver used in photographic film. Stikine River Photo is considering purchase of improved equipment for their laboratory at Telegraph Creek. Here is the information they have:

The equipment costs $101,000 and will cost $80,800 per year to run.

It has an economic life of 10 years but can be depreciated over five years by the straight-line method.

It will recover an additional 5,000 ounces of silver per year. Silver is selling for $22 per ounce.

Over the past 5 years, the price of silver has appreciated by 4.5% per year in real terms.

Silver is traded in an active, competitive market.

Stikine's marginal tax rate is 34%.

Stikine's company cost of capital is 10% in real terms.

The nominal interest rate is 8%.

What is the NPV of the new equipment? Assume 2017 Tax Cuts and Jobs Act, where 100% write-off of investment expenditures, is not applicable.

In: Finance

Using industry averages for fast casual / premium casual dining, assume that Famoso’s overall base revenues...

Using industry averages for fast casual / premium casual dining, assume that Famoso’s overall base revenues this year across 25 locations will be $25 million, cost of goods sold (food and beverages) is 30% of revenue, variable labour costs (e.g. restaurant staff) are also 30% of revenue, marketing costs are $1 million, occupancy and equipment costs are $5 million, and home office administration costs are $2 million. Assume average revenue per transaction of $50.

Opportunity 1: Product improvement Famoso would like to consider taking an even stronger product quality positioning by using organic food ingredients. This is expected to increase food and beverage costs as a percent of sales by 5%. They would make a one-time investment of $100,000 in marketing communications to promote this offering. They believe they could see a sales increase of 10% under this opportunity.

Opportunity 2: Sales promotion Famoso wants your perspective on a free pizza promotion to generate trial and new customer acquisition. They would market the offer via direct email, using address lists likely to avoid current customers. The campaign would reach 300,000 people at a cost of $75,000. They expect that 1% of those who receive the direct mail/email would take advantage of the offer, and spend $25 on their visit beyond the free pizza. For promotion cost purposes, assume that the average retail price of a Famoso pizza is $15. Famoso expects that half of those who participate in the promo would become a “regular” customer, going on to have two more transactions per year.

Opportunity 3: Third-party delivery service Famoso has decided to consider a new distribution option: rolling out the use of a third party service such as Just-eat.ca, Skipthedishes.com, or UberEATS for food deliveries. They have been conducting a market test of this service at one of their 25 locations. The test achieved 1,000 deliveries with an average purchase of $25. Famoso pays the third-party service $5 for each delivery, and will spend $10,000 on in-store signage to promote the delivery option.

1. Given the hypothetical information provided, what is Famoso’s overall break-even point in units? What is this as a percent of their current transaction volume? For this kind of business, units would be the number of tables served / transactions.

2. What is the break-even point in units for the product improvement idea (Opportunity 1)? What percentage sales increase is needed to achieve this break even?

3. What is the incremental transaction volume and variable cost of Opportunity 2?

4. What are the fixed costs of Opportunity 3? Is there a risk related to this investment?

In: Accounting