A university is trying to determine what PRICE to charge for football tickets. At a price of $6 per ticket, it averages 70,000 people per game.
For every increase of $1, it loses 10,000 people from the average number . Every person at the game spends an average of$1.50 on concessions.

a) What price per ticket should be charged to MAXIMIZE REVENUE? ( Please explain the steps )

b) How many people will attend at that price? Please show your work.

A class survey in a large class for first-year college students asked, "About how many hours do you study in a typical week?". The mean response of the 427 students was x¯¯¯ = 12 hours. Suppose that we know that the study time follows a Normal distribution with standard deviation 7 hours in the population of all first-year students at this university. What is the 99% confidence interval (±0.001) for the population mean?

Confidence interval is from ____to_____ hours.

In your work as an accountant you advise a client, Avon Pty. Ltd. (Avon), on various matters. Avon entered into a $500,000 one year contract in June 2016 with Central Queensland University (a registered Research Service Provider) to undertake research and development for Avon. The contract was to run from July 2016 to June 2017. Avon wants your advice about tax offsets and how this expense could be treated by the ATO in the 2016-17 tax year.

Describe how the following transactions would affect U.S. exports, imports, and net exports:

1. Students in Prague flock to see the latest movie from Hollywood.
2. Mrs. Jones in Philadelphia buys a new Volvo.
3. The student bookstore at Oxford University in England sells a copy of a U.S. printed/authored textbook
4. A Canadian citizen shops at a store in northern Vermont to avoid Canadian sales taxes.
5. An American art professor spends the summer touring museums in Europe.

Describe how the following transactions would affect U.S. exports, imports, and net exports:

1. Students in Prague flock to see the latest movie from Hollywood.
2. Mrs. Jones in Philadelphia buys a new Volvo.
3. The student bookstore at Oxford University in England sells a copy of a U.S. printed/authored textbook
4. A Canadian citizen shops at a store in northern Vermont to avoid Canadian sales taxes.
5. An American art professor spends the summer touring museums in Europe.

(16.19) A class survey in a large class for first-year college students asked, "About how many hours do you study in a typical week?". The mean response of the 427 students was x¯¯¯ = 17 hours. Suppose that we know that the study time follows a Normal distribution with standard deviation 8 hours in the population of all first-year students at this university. What is the 99% confidence interval (±0.001) for the population mean? Confidence interval is from to hours.

Michael’s Corporation Data for 2020

1. Depreciation reported on the tax return exceeded depreciation reported on the income statement by $75,000. This

difference will reverse in equal amounts of $25,000 over the years 201–202 .

2. Interest received on municipal bonds was $24,000.

3. Rent collected in advance on January 1, 2020, totaled $45,000 for a 3- year period. Of this amount, $30,000 was reported as unearned at December 31, 2020, for book purposes.

4. The tax rates are 30% for 2020 and 20% for 2021 and subsequent years.

5. Income taxes of $270,000 are due per the tax return for 2020.

6. No deferred taxes existed at the beginning of 2020.

Required

(a) Compute taxable income for 2020.

(b) Compute pretax financial income for 2020.

(c) Prepare the journal entries to record income tax expense, deferred income taxes, and income taxes payable for 2020 and

2021. Assume taxable income was $760,000 in 2021.

(d) Prepare the income tax expense section of the income statement for 20 , beginning with “Income

before income taxes.”

1. Imagine that you are the CEO of Moet Hennessy Louis Vuitton SE (LVMH). You have just received share price valuation estimates for a potential buyout target, Rimowa, from two of your top financial analysts. You have confidence in their estimates because they have taken FIN 305 from the Shidler College of Business. Both analysts used the discounted cash flow (DCF) model to estimate the share price resulting in a valuation of $50, by the first analyst and $60, by the second analyst.

Part I: Identify two possible causes for the significant difference in valuation and briefly explain how each possible cause affected the DCF model’s share price estimate.