1
Which of the following entries records the withdrawal of cash for personal use by D. Bill, the owner of a business?
a.Debit Cash and credit Salary Expense
b.Debit Cash and credit D. Bill, Drawing
c.Debit D. Bill, Drawing and credit Cash
d.Debit Salary Expense and credit Cash
e.None of these choices are correct.
2
A purchase of supplies on account should be recorded as
a.a debit to Supplies and a credit to Cash.
b.a debit to Supplies and a credit to Accounts Payable.
c.a debit to Accounts Payable and a credit to Supplies.
d.a debit to Supplies Expense and a credit to Accounts Receivable.
e.None of these choices are correct.
3
The order the financial statements are prepared is as follows:
a.statement of owner's equity, income statement, balance sheet
b.balance sheet, income statement, statement of owner's equity
c.income statement, statement of owner's equity, balance sheet
d.income statement, balance sheet, statement of owner's equity
4
R. Davis Company has the following accounts and balances at the
end of the year:
Cash, $1,200
Accounts Receivable, $280
Office Equipment, $3,000
Accounts Payable, $1,400
Income from Services, $3,500
Rent Expense, $670
Salaries Expense, $1,000
R. Davis, Capital at the beginning of the year was $2,050. Rob
Davis also withdrew $800 from the company during the year. What is
the amount of total assets reported on the balance sheet?
a.$3,080
b.$9,800
c.$4,480
d.$1,480
5
Jackson Company received cash on account from customers, $2,300. The accountant would record a
a.credit to income from services, $2,300.
b.debit to income from services, $2,300.
c.credit to accounts receivable, $2,300.
d.credit to cash, $2,300.
e.debit to accounts receivable, $2,300
6
Rent Expense is reported on which financial statement?
a.statement of owner's equity
b.balance sheet
c.income statement
d.None of these listed answers are correct.
7
A credit may result in
a.an increase in a revenue account.
b.an increase in a liability account.
c.an increase in the Capital account.
d.a decrease in an asset account.
e.All of these choices are correct.
8
Errors can occur for which of the following reason(s)?
a.Recording only half an entry
b.Recording two debits and no credits
c.Recording incorrect amounts
d.Arithmetic
e.All of these listed answers are correct.
In: Accounting
|
Suppose you have been hired as a financial consultant to Defense Electronics, Inc. (DEI), a large, publicly traded firm that is the market share leader in radar detection systems (RDSs). The company is looking at setting up a manufacturing plant overseas to produce a new line of RDSs. This will be a five-year project. The company bought some land three years ago for $2.8 million in anticipation of using it as a toxic dump site for waste chemicals, but it built a piping system to safely discard the chemicals instead. The land was appraised last week for $5.9 million on an aftertax basis. In five years, the aftertax value of the land will be $6.3 million, but the company expects to keep the land for a future project. The company wants to build its new manufacturing plant on this land; the plant and equipment will cost $32.5 million to build. The following market data on DEI’s securities are current: |
| Debt: |
240,000 bonds with a coupon rate of 5.9 percent outstanding, 22 years to maturity, selling for 104 percent of par; the bonds have a $1,000 par value each and make semiannual payments. |
| Common stock: |
9,400,000 shares outstanding, selling for $72.80 per share; the beta is 1.25. |
| Preferred stock: |
460,000 shares of 3.7 percent preferred stock outstanding, selling for $82.75 per share. The par value is $100. |
| Market: |
5.9 percent expected market risk premium; 2.8 percent risk-free rate. |
|
DEI uses G.M. Wharton as its lead underwriter. Wharton charges DEI spreads of 6.5 percent on new common stock issues, 4 percent on new preferred stock issues, and 2 percent on new debt issues. Wharton has included all direct and indirect issuance costs (along with its profit) in setting these spreads. Wharton has recommended to DEI that it raise the funds needed to build the plant by issuing new shares of common stock. DEI’s tax rate is 21 percent. The project requires $1,450,000 in initial net working capital investment to get operational. Assume DEI raises all equity for new projects externally and that the NWC does not require floatation costs.. |
| a. |
Calculate the project’s initial Time 0 cash flow, taking into account all side effects. |
| b. | The new RDS project is somewhat riskier than a typical project for DEI, primarily because the plant is being located overseas. Management has told you to use an adjustment factor of +1.0 percent to account for this increased riskiness. Calculate the appropriate discount rate to use when evaluating DEI’s project. (Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.) |
| c. | The manufacturing plant has an eight-year tax life, and DEI uses straight-line depreciation to a zero salvage value. At the end of the project (that is, the end of Year 5), the plant and equipment can be scrapped for $5.1 million. What is the aftertax salvage value of this plant and equipment? |
| d. | The company will incur $7,400,000 in annual fixed costs. The plan is to manufacture 19,525 RDSs per year and sell them at $11,060 per machine; the variable production costs are $9,675 per RDS. What is the annual operating cash flow (OCF) from this project? |
| e. | DEI’s comptroller is primarily interested in the impact of DEI’s investments on the bottom line of reported accounting statements. What will you tell her is the accounting break-even quantity of RDSs sold for this project? |
| f. |
Finally, DEI’s president wants you to throw all your calculations, assumptions, and everything else into the report for the chief financial officer; all he wants to know is what the RDS project’s internal rate of return (IRR) and net present value (NPV) are. |
In: Finance
Original Claim: The average age of all patients admitted to the hospital with infectious diseases is less than 65 years of age.
Test the claim using ? = 0.05 and assume your data is normally distributed and ? is unknown.
Q.) What is the value of the test-statistic? What is the p-value? What is the critical value?
| Patient # | Infectious Disease | Age |
| 1 | Yes | 67 |
| 2 | Yes | 38 |
| 3 | Yes | 58 |
| 4 | Yes | 52 |
| 5 | Yes | 46 |
| 6 | Yes | 61 |
| 7 | Yes | 74 |
| 8 | Yes | 69 |
| 9 | Yes | 67 |
| 10 | Yes | 70 |
| 11 | Yes | 65 |
| 12 | Yes | 69 |
| 13 | Yes | 72 |
| 14 | Yes | 69 |
| 15 | Yes | 45 |
| 16 | Yes | 49 |
| 17 | Yes | 72 |
| 18 | Yes | 52 |
| 19 | Yes | 46 |
| 20 | Yes | 57 |
| 21 | Yes | 70 |
| 22 | Yes | 67 |
| 23 | Yes | 77 |
| 24 | Yes | 59 |
| 25 | Yes | 59 |
| 26 | Yes | 61 |
| 27 | Yes | 72 |
| 28 | Yes | 71 |
| 29 | Yes | 52 |
| 30 | Yes | 58 |
| 31 | Yes | 73 |
| 32 | Yes | 52 |
| 33 | Yes | 47 |
| 34 | Yes | 68 |
| 35 | Yes | 55 |
| 36 | Yes | 45 |
| 37 | Yes | 59 |
| 38 | Yes | 58 |
| 39 | Yes | 47 |
| 40 | Yes | 62 |
| 41 | Yes | 62 |
| 42 | Yes | 64 |
| 43 | Yes | 62 |
| 44 | Yes | 56 |
| 45 | Yes | 62 |
| 46 | Yes | 52 |
| 47 | Yes | 70 |
| 48 | Yes | 51 |
| 49 | Yes | 70 |
| 50 | Yes | 69 |
| 51 | Yes | 69 |
| 52 | Yes | 60 |
| 53 | Yes | 57 |
| 54 | Yes | 68 |
| 55 | Yes | 64 |
| 56 | Yes | 64 |
| 57 | Yes | 56 |
| 58 | Yes | 72 |
| 59 | Yes | 70 |
| 60 | Yes | 67 |
In: Statistics and Probability
Complete all of the parts of these questions using SPSS to carry out computations and to produce the scatterplot. Turn in the SPSS printouts with your assignment.
|
Participant |
X |
Y |
Participant |
X |
Y |
Participant |
X |
Y |
|
1 |
72 |
150 |
11 |
80 |
235 |
21 |
75 |
165 |
|
2 |
70 |
125 |
12 |
63 |
180 |
22 |
66 |
130 |
|
3 |
77 |
220 |
13 |
74 |
185 |
23 |
60 |
110 |
|
4 |
58 |
150 |
14 |
61 |
125 |
24 |
64 |
115 |
|
5 |
65 |
155 |
15 |
69 |
230 |
25 |
63 |
145 |
|
6 |
68 |
195 |
16 |
78 |
200 |
26 |
72 |
200 |
|
7 |
70 |
140 |
17 |
57 |
105 |
27 |
70 |
190 |
|
8 |
85 |
250 |
18 |
61 |
135 |
28 |
89 |
240 |
|
9 |
71 |
140 |
19 |
60 |
175 |
29 |
66 |
200 |
|
10 |
69 |
175 |
20 |
70 |
145 |
30 |
71 |
175 |
based on X.
In: Statistics and Probability
The ledger of Whispering Winds Company contains the following
balances: Retained Earnings $28,000, Dividends $1,500, Service
Revenue $51,500, Salaries and Wages Expense $29,000, and Supplies
Expense $6,000.
The closing entries are as follows:
| (1) | Close revenue accounts. | |
| (2) | Close expense accounts. | |
| (3) | Close net income/(loss). | |
| (4) | Close dividends. |
Enter the balances in T-accounts, post the closing entries, and
underline and balance the accounts.
|
Salaries and Wages Expense |
|||
|---|---|---|---|
|
select an option Bal.(1)(2)(3)(4) |
enter a debit amount |
select an option Bal.(1)(2)(3)(4) |
enter a credit amount |
|
select an option Bal.(1)(2)(3)(4) |
enter a debit balance |
select an option Bal.(1)(2)(3)(4) |
enter a credit balance |
|
Supplies Expense |
|||
|
select an option Bal.(1)(2)(3)(4) |
enter a debit amount |
select an option Bal.(1)(2)(3)(4) |
enter a credit amount |
|
select an option Bal.(1)(2)(3)(4) |
enter a debit balance |
select an option Bal.(1)(2)(3)(4) |
enter a credit balance |
|
Service Revenue |
|||
|
select an option Bal.(1)(2)(3)(4) |
enter a debit amount |
select an option Bal.(1)(2)(3)(4) |
enter a credit amount |
|
select an option Bal.(1)(2)(3)(4) |
enter a debit balance |
select an option Bal.(1)(2)(3)(4) |
enter a credit balance |
|
Dividends |
|||
|
select an option Bal.(1)(2)(3)(4) |
enter a debit amount |
select an option Bal.(1)(2)(3)(4) |
enter a credit amount |
|
select an option Bal.(1)(2)(3)(4) |
enter a debit balance |
select an option Bal.(1)(2)(3)(4) |
enter a credit balance |
|
Income Summary |
|||
|
select an option Bal.(1)(2)(3)(4) |
enter a debit amount |
select an option Bal.(1)(2)(3)(4) |
enter a credit amount |
|
select an option Bal.(1)(2)(3)(4) |
enter a debit balance |
select an option Bal.(1)(2)(3)(4) |
enter a credit balance |
|
Retained Earnings |
|||
|
select an option Bal.(1)(2)(3)(4) |
enter a debit amount |
select an option Bal.(1)(2)(3)(4) |
enter a credit amount |
|
select an option Bal.(1)(2)(3)(4) |
enter a debit amount |
select an option Bal.(1)(2)(3)(4) |
enter a credit amount |
|
select an option Bal.(1)(2)(3)(4) |
enter a debit balance |
select an option Bal.(1)(2)(3)(4) |
enter a credit balance |
In: Accounting
An emergency service wishes to see whether there a relationship exists between the outside temperature and the number of emergency calls it receives. The data is shown below. Temperature x | 68 74 82 88 93 99 101 Number of calls | 5 5 7 8 11 12 13
In: Statistics and Probability
A commercial farm uses a machine that packages carrots in twenty-two ounce portions. A sample of 74 packages of carrots has a standard deviation of 0.38. Construct the 98% confidence interval to estimate the standard deviation of the weights of the packages prepared by the machine. Round your answers to two decimal places.
In: Statistics and Probability
School boards in Nova Scotia, on average receive a budget of $623.00 per student from the provincial government. A random sample of 45 rural schools report that they received on average $605 per student with a standard deviation of $74. Is there a significant difference in the budgets between rural schools and the whole province
In: Statistics and Probability
Calculate the CO2 emission reduction in short tons/year that would result from increasing the efficiency of a 1,000 MW coal fired power plant from 33%-39%. The coal is 74% C and has a heat content of 9,800 Btu/lb. One short ton = 2,000 lb.
In: Other
Write a program in c++ using only while and for loops . Use of arrays and functions is not allowed.
Given the first value, generate the next ten terms of the
sequence like 1, 2, 4, 8, 16, 22, 26,
38, 62, 74, 102, 104, …
Explaination with code is required.
In: Computer Science