Trend or time-series analysis is another term used for ____ analysis

Multiple Choice

• Ratio

• Horizontal

• Vertical

• Diagonal

Vertical analysis refers to:

Multiple Choice

• Expressing each item in a financial statement as a percentage of the same base amount.

• Expressing each item in a financial statement in order of highest amount to lowest amount.

• Expressing each item in a financial statement as its trend over time.

• Expressing each item in a financial statement in order of highest importance to lowest importance.

The times interest earned ratio is classified as an indicator of a company's:

Multiple Choice

• Profitability.

• Long-term survival.

• Liquidity.

• Solvency.

Which of the following is an example of horizontal analysis?

Multiple Choice

• Comparing a balance sheet account with another balance sheet account at the same point in time.

• Comparing a balance sheet account with an income statement account.

• Comparing an income statement account with another income statement account at the same point in time.

• Comparing a balance sheet account over time.

Which of the following is an example of horizontal analysis?

Multiple Choice

• Comparing assets with equity.

• Comparing gross profit across companies.

• Comparing gross profit with operating expenses.

• Comparing the change in sales over time.

Jamble Co. reports cash of $40,000, accounts receivable of $60,000, inventory of $150,000, equipment of $350,000, and current liabilities of $100,000. What is Jamble's current ratio?

Multiple Choice

• 6.0.

• 1.0.

• 1.4.

• 2.5.

Which of the following is an example of conservative accounting?

Multiple Choice

• Adjusting the allowance for uncollectible accounts to a smaller amount.

• Recording the lowest possible warranty expense.

• Changing to a longer useful life for depreciating a long-lived asset.

• Recording inventory at lower of cost or net realizable value.

Sports Unlimited reports net income of $240,000, sales revenue of $24 million, and average total assets of $3 million. The asset turnover is:

Multiple Choice

• 12 times.

• 0.08 times.

• 8 times.

• 1.5 times.

amble Co. reports cash of $40,000, accounts receivable of $60,000, inventory of $150,000, equipment of $350,000, and current liabilities of $100,000. What is Jamble's acid-test ratio?

Multiple Choice

• 6.0.

• 1.0.

• 4.5.

• 2.5.

Which of the following is an example of an aggressive accounting practice in relation to the reporting of net income?

Multiple Choice

• Judging a contingent loss to be reasonably likely instead of probable.

• Estimating the useful life of a depreciable asset to be 10 years instead of 6 years.

• Assuming net realizable value of inventory remains above cost despite lack of sales of current inventory.

• All of the other answers are examples of aggressive accounting.

The Sports Addition reports net sales of $2 million, cost of goods sold of $1 million, operating expenses of $500,000, and other expenses of $100,000. If you were to perform a vertical analysis of this income statement, you would divide each of these income statement line items by:

Multiple Choice

• $400,000.

• $2,000,000.

• $100,000.

• $1,000,000.

Which of the following is an example of aggressive accounting?

Multiple Choice

• Recording the lowest possible warranty expense.

• The write-down of overvalued inventory.

• Adjusting the allowance for uncollectible accounts to a larger amount.

• Changing to a shorter useful life for depreciating a long-lived asset.

Which of the following ratios is more useful in evaluating solvency?

Multiple Choice

• Debt to equity ratio.

• Receivables turnover ratio.

• Inventory turnover ratio.

• Current ratio.

Conservative accounting practices refer to:

Multiple Choice

• Practices that result in reporting lower income, lower assets, and/or higher liabilities.

• Practices that reduce the amount of tax paid to federal, state, and local jurisdictions.

• Practices that result in greater employee training to avoid injuries.

• Practices that result in management taking fewer risky operating decisions that have the potential to result in losses.

The Sports Addition reports net sales of $2 million, cost of goods sold of $1 million, operating expenses of $500,000, and other expenses of $100,000. The Company's gross profit ratio is:

Multiple Choice

• 100%.

• 25%.

• 50%.

• 5%.

Exercise 6: Determination of growth of E.coli

At the conclusion of this exercise you should be able to:

• determine the growth of an E.coli suspension over time using turbidometric analysis and viable count method.
• determine the generation time of the growth of E.coli.
• understand the phases of growth of E.coli over a period of time.

Description of the experiments

This experiment will determine the growth of E.coli over a four hour time period. In order to record this growth, we will be using two methods of determining growth: turbidometry and viable count methods. To begin this experiment, a 1.0 ml sample of an overnight culture of E.coli was placed in a 100 ml flask containing sterile nutrient broth. To determine an initial timepoint (time zero), a 2.0 ml sample was removed, 1.0 ml of which was used to examine turbidometry (Absorbance) at 600nm wavelength and 0.1 ml of the sample was applied to a nutrient agar plate and spread onto the plate to determine viable counts.

The flask was subsequently placed in a 37⁰ C shaking water bath to allow the cells to grow. The flask was removed to obtain an hourly sample of culture, where 2.0 ml was aseptically removed from the flask to perform turbidometric and viable plate count methods (times 1 to 4 hours). To perform the viable counts over time, serial ten-fold dilutions of sample were made by adding 0.1 ml of sample to 9.9 ml of sterile water (this dilution is know as 1/10, or in scientific terms a 10¹ dilution). For this experiment, dilutions were made up to 10⁷ for each subsequent timepoint.

A 0.1ml sample was removed from dilutions and added to a nutrient agar plate. The sample was subsequently spread onto the surface of the plate covering all quadrants of the plate (this is known as a lawn inoculum). After allowing plates to dry, plates were inverted upside down and placed in an incubator at 37⁰C and removed after 18-24 hours. After incubation, plates showing colony numbers of 300 or less were counted for each time point. These are known as colony forming units (CFUs).

For a visual demonstration of how to perform serial dilutions and observe the appearance of colonies formed using this technique, watch How to Quantify Bacterial Culture Concentrations Using Serial Dilution and Plate Counts:

Results

Turbidometric recordings

Viable count (CFU) after 18 hours

*Use proper scientific notation

1. Tabulate the number of viable cells and record in the table above. Remember that each colony is equivalent to 1 colony forming unit (CFU) or 1 cell. Because you plated only 0.1 mL of sample per plate, you must also take into account a plating factor (PF) of 10. To calculate the number of cells per ml use this formula :

# colonies on plate X 1/dilution X PF = #cells/ml e.g. 33 cells on the 10-5 plate would be:

33 X 105 X 10 =3.30 X 107 cells/ml (33 000 000 cells/ml)

2. Provide a graph, plotting the turbidity recorded and the log number of viable cells/ml for each time point. A graph pad is provided below. NOTE: You can hand draw and insert a picture or insert excel graph

3. Determine the generation time by using the following formula :

Generation time =∆ t log 2

Log n – log N

Where: N = number of bacteria at a particular time point during log phase

n = number of bacteria at a second time point during log phase

∆t = time

Smoky Mountain Corporation makes two types of hiking boots—the Xtreme and the Pathfinder. Data concerning these two product lines appear below:

The company has a traditional costing system in which manufacturing overhead is applied to units based on direct labor-hours. Data concerning manufacturing overhead and direct labor-hours for the upcoming year appear below:

Required:

1. Compute the product margins for the Xtreme and the Pathfinder products under the company’s traditional costing system.

2. The company is considering replacing its traditional costing system with an activity-based costing system that would assign its manufacturing overhead to the following four activity cost pools (the Other cost pool includes organization-sustaining costs and idle capacity costs):

Compute the product margins for the Xtreme and the Pathfinder products under the activity-based costing system.

3. Prepare a quantitative comparison of the traditional and activity-based cost assignments.

Smoky Mountain Corporation makes two types of hiking boots—the Xtreme and the Pathfinder. Data concerning these two product lines appear below:

The company has a traditional costing system in which manufacturing overhead is applied to units based on direct labor-hours. Data concerning manufacturing overhead and direct labor-hours for the upcoming year appear below:

Required:

1. Compute the product margins for the Xtreme and the Pathfinder products under the company’s traditional costing system.

2. The company is considering replacing its traditional costing system with an activity-based costing system that would assign its manufacturing overhead to the following four activity cost pools (the Other cost pool includes organization-sustaining costs and idle capacity costs):

Compute the product margins for the Xtreme and the Pathfinder products under the activity-based costing system.

3. Prepare a quantitative comparison of the traditional and activity-based cost assignments.

a. Input the data to R and draw a scatter plot, and you can see that the current scale is not the best for display. You can apply a log-transformation on both variables. This can be done by using the log() function, you can put the old data.frame in the parenthesis, and assign the output a name so that you will have a new data.frame of the transformed data, something like below
> new.data <- log(old.data)
Draw a scatter plot of the new data, does it look much better?

c. Fit a linear model on the original data. Draw plot the residual against the predictor using something similar to
> plot(old.data$BodyWeight, lm.fit$res)
What do you think about the assumption that the error term does not depend on x ?

d. Fit a linear model on the log-transformed data. Draw a plot the residual against the predictor. What do you see now?

Can you please show all work?

In 2019, Pittsburgh Steelers starting quarterback Ben Roethlisberger suffered a season-ending elbow injury in Week 2. The team struggled to find a quarterback until Week 12, when undrafted rookie Devlin “Duck” Hodges entered a game against the Cincinnati Bengals at halftime and led the Steelers to a surprising comeback victory. His performance earned him the starting job for the rest of the season and engendered a flurry of media speculation about his potential as a future quarterback for the Steelers.

Assume quarterbacks can either be good, average, or bad. Because Hodges was undrafted, it’s fair to say that coaches and fans had low expectations for him. Assume the initial probability distribution for Hodges was:

P(Good) =0.1

P(Average)=0.2

P(Bad)= 0.7

Also assume quarterbacks can either have strong performances or weak performances (there are only two types of performances, strong or weak). The chance of a good quarterback having a strong performance is 80%, the chance of an average QB having a strong performance is 50%, and the chance of a bad QB having a strong performance is 30%. We have:

P(S | G) =0.8

P(S | A)=0.5

P(S | B)= 0.3

From ESPN.com, Hodges turned in the following performances during the last 6 weeks of the season:

Use Bayes’s Rule to fill in the following table with the week-by-week probabilities of Duck being good, average, or bad.

1. Point P is located at the origin of a coordinate plane.
   Object A of charge -1e-9 C is located on the x-axis of a coordinate plane at x = 0.2 m.
   Object B of charge 5e-9 C is located on the y-axis of a coordinate plane at y = 0.3 m.
   Calculate the direction (angle formed with the positive x-axis) of the net
   electric field at point P due to objects A and B. (1 point)
   1. 91.382°
   2. -65.772°
   3. 125.651°
   4. 114.228°
   5. -72.349°
2. Point P is located at the origin of a coordinate plane.
   Object A of charge -5e-9 C is located on the x-axis of a coordinate plane at x = 0.5 m.
   Object B of charge -1e-9 C is located on the y-axis of a coordinate plane at y = 0.5 m.
   Calculate the magnitude of the net electric field at point P
   due to objects A and B. (1 point)
   1. 220.278 N ⁄ C
   2. 165.208 N ⁄ C
   3. 110.139 N ⁄ C
   4. 128.495 N ⁄ C
   5. 183.565 N ⁄ C
3. Point P is located on the x-axis of a coordinate plane at x = 0.2 m.
   Object A of charge 5e-9 C is located on the y-axis of a coordinate plane at y = 0.1 m.
   Object B of charge -5e-9 C is located on the y-axis of a coordinate plane at y = -0.4 m.
   Calculate the magnitude of the net electric field at point P due to objects A and B. (1 point)
   1. 556.619 N ⁄ C
   2. 649.389 N ⁄ C
   3. 1113.239 N ⁄ C
   4. 927.699 N ⁄ C
   5. 1020.469 N ⁄ C
4. Point P is located on the x-axis of a coordinate plane at x = 0.5 m.
   Object A of charge -1e-9 C is located on the y-axis of a coordinate plane at y = 0.2 m.
   Object B of charge -4e-9 C is located on the y-axis of a coordinate plane at y = -0.1 m.
   Calculate the direction (angle with respect to the positive x-axis)
   of the net electric field at point P due to objects A and B. (1 point)
   1. 183.224°
   2. 185.424°
   3. 184.324°
   4. 188.724°
   5. 181.024°

In 2019, Pittsburgh Steelers starting quarterback Ben Roethlisberger suffered a season-ending elbow injury in Week 2. The team struggled to find a quarterback until Week 12, when undrafted rookie Devlin “Duck” Hodges entered a game against the Cincinnati Bengals at halftime and led the Steelers to a surprising comeback victory. His performance earned him the starting job for the rest of the season and engendered a flurry of media speculation about his potential as a future quarterback for the Steelers.

Assume quarterbacks can either be good, average, or bad. Because Hodges was undrafted, it’s fair to say that coaches and fans had low expectations for him. Assume the initial probability distribution for Hodges was:

P(Good) =0.1

P(Average)=0.2

P(Bad)= 0.7

Also assume quarterbacks can either have strong performances or weak performances (there are only two types of performances, strong or weak). The chance of a good quarterback having a strong performance is 80%, the chance of an average QB having a strong performance is 50%, and the chance of a bad QB having a strong performance is 30%. We have:

P(S | G) =0.8

P(S | A)=0.5

P(S | B)= 0.3

From ESPN.com, Hodges turned in the following performances during the last 6 weeks of the season:

Use Bayes’s Rule to fill in the following table with the week-by-week probabilities of Duck being good, average, or bad.

An important quality characteristic used by the manufacturers of ABC asphalt shingles is the amount of moisture the shingles contain when they are packaged. Customers may feel that they have purchased a product lacking in quality if they find moisture and wet shingles inside the packaging.   In some cases, excessive moisture can cause the granules attached to the shingles for texture and colouring purposes to fall off the shingles resulting in appearance problems. To monitor the amount of moisture present, the company conducts moisture tests. A shingle is weighed and then dried. The shingle is then reweighed, and based on the amount of moisture taken out of the product, the pounds of moisture per 100 square feet is calculated. The company claims that the mean moisture content cannot be greater than 0.35 pound per 100 square feet.
The file (A & B shingles.csv) includes 36 measurements (in pounds per 100 square feet) for A shingles and 31 for B shingles.

3.1. For the A shingles, form the null and alternative hypothesis to test whether the population mean moisture content is less than 0.35 pound per 100 square feet.

3.2. For the B shingles, form the null and alternative hypothesis to test whether the population mean moisture content is less than 0.35 pound per 100 square feet.

3.3. Do you think that the population means for shingles A and B are equal?
Form the hypothesis and conduct the test of the hypothesis.
What assumption do you need to check before the test for equality of means is performed?

3.4. What assumption about the population distribution is needed in order to conduct the hypothesis tests above?

1.

• The balance sheet at the end of 2018 reported Accounts Receivable of $785,500 and Allowance for Doubtful Accounts of $11,783 (credit balance).
• The company’s total sales during 2019 were $8,350,200. Of these, $1,252,530 were cash sales the rest were credit sales.
• By the end of the year, the company had collected $6,291,700 of accounts receivable.
• It also wrote off an account for $10,380.

A.Prepare the journal entry for sales.

B. Prepare the journal entry for collections.

C. Prepare the journal entry for write-offs.

D. Post the beginning balance and the journal entries to the T-account for Accounts Receivable. Calculate the balance after these entries have been posted.

E. Post the beginning balance and the journal entries to the T-account Allowance for Doubtful Accounts. Calculate and enter the balance after these entries have been posted.

1.2. December 31, 2019 aging schedule

Given the T-accounts for Accounts Receivable and Allowance for Doubtful Accounts and the aging schedule above, prepare the December 31, 2019 adjusting entry for bad debt.  Show and label any calculation below the journal entry.

A. Enter the amount for Bad Debt Expense and which financial statement it will appear on.

B. Enter the amount for Accounts Receivable and which financial statement it will appear on.

C. Enter the amount for Allowance for Doubtful Accounts and which financial statement it will appear on.

D. Enter the amount for Net realizable value of Accounts Receivable and which financial statement it will appear on.

E. Prepare the December 31, 2019 adjusting entry for bad debt assuming the company uses % of credit sales instead of aging and it estimates that 0.3% of credit sales will be uncollectible. Show and label any calculation below the journal entry.