Part 1) Independent random samples of professional football and basketball players gave the following information. Assume that the weight distributions are mound-shaped and symmetric.

Weights (in lb) of pro football players: x₁; n₁ = 21

Weights (in lb) of pro basketball players: x₂; n₂ = 19

(a) Use a calculator with mean and standard deviation keys to calculate x₁, s₁, x₂, and s₂. (Round your answers to one decimal place.)

(b) Let ?₁ be the population mean for x₁ and let ?₂ be the population mean for x₂. Find a 99% confidence interval for ?₁ ? ?₂. (Round your answers to one decimal place.)

The Business Club at Elk College

Our VP of Marketing just learned the Business Club at Elk College (BCEB) is hosting the State Conference of Business Clubs on April 9 – 11, 2018 at the Central Downtown Campus in Dallas, Texas. Jack Morton director of the club has requested an Information System to register, monitor and house participants for the conference. BCEB has requested through the Director of Computer Systems Support that (You), one of our Marketing officers, investigate and recommend an Information Systems for these tasks.

Background Information

The BCEB is the local chapter affiliated with the state organization which will Conduct and coordinate the conference. The primary need will be to register the estimated 250 students from 14 schools which are part of this Business Clubs organization. The students will be participating in one of four areas; interviewing skills, business presentations, financial planning or research, and development. Some of the schools have requested the registration can be handled online to eliminate tracking forms. Each school will have a faculty representative who will be responsible for their students.

The Old Downtown Inn will be the base hotel for the faculty and students while in Dallas. Manager, Jill Thomas, has worked with the school previously on other conferences. Jill calls and sends emails that she prefers handling the room reservations in a paperless manner.

As host of the conference, Jack Morton will need to be able to locate any student or faculty representatives at any time while in session between 8am and 6pm, during all 3 days. The registration system will also be used to schedule students into their events and also any special trips during the conference.

Your proposal (Student Summary Report) should contain your analysis information and details of a typical preliminary investigation, including your SWOT analysis, Internal / External analysis, data, charts, recommendations, and thoughts on the following:

1) What type of hardware and software platform would be needed to support this computer based system.

2) Based on the scope described in this Case studies background information, will this development need any outside contractors or help desk support?

3) Consider the use of online systems for the project.

4) What is the feasibility of completing and testing the system in the time frame between now (our case study timeline date) and April 2, one week prior to the conference?

5) For your proposal use the System Requirements Document section format and other document templates provided within your on-line course resources

15) Which of the following statements is correct regarding depreciation?  

A. Depreciation expense should be recorded in the appropriate governmental funds and recorded in the governmental activities accounts.

B.   Depreciation expense must be recorded in the governmental fund, but no depreciation expense is recorded in the governmental activities accounts.

C.    No depreciation can be recorded in any governmental fund, but depreciation expense must be recorded in the governmental activities accounts.

D. No depreciation can be recorded in any governmental fund, nor is it permissible to

         record depreciation expense in the governmental activities accounts.

            16) Which of the following statements is correct concerning interest expenditures incurred during the period of construction of capital projects?  

A. Interest expenditures may not be capitalized as part of the cost of general capital assets reported in governmental activities.

B. Interest expenditures may be capitalized as part of the cost of general capital assets reported in the governmental activities accounts at the government-wide level.

C. Interest expenditures must be capitalized as part of the cost of general capital assets reported in the capital projects fund.

D. The capitalization of interest expenditures as part of the cost of general capital assets reported in the capital projects fund is optional.

            17) When part of a progress payment for construction is withheld until final settlement of the contract, what account is credited?

A. Encumbrances.

B. Appropriations.

C. Contracts Payable—Retained Percentage.

D. Construction Expenditures.

            18) Which of the following activities or transactions would normally not be accounted for in a capital projects fund?

A. Construction of a new city jail.

B. Construction of airport runways financed by revenue bonds and to be repaid from the revenues of the city airport, an enterprise fund.

C. Lease of a building to be used as a city office building.

D. Construction of a new city park to be maintained primarily from General Fund revenues.

            19) Which of the following statements regarding debt service funds is true?

A.   Debt service funds are always accounted for on the accrual basis of accounting.

B.   GASB standards require a separate debt service fund to be established for each issuance of tax-supported or special assessment debt.

C.   A debt service fund is used only for debt service activities related to general long-term liabilities.

D.   GASB requires that annual budgets must be prepared for all debt service funds.

            20) When the City of Delray makes its annual lease payment on an unpaid capital lease obligation, the journal entry for the debt service fund accounts will include:

A. A debit to Capital Lease Obligation Payable.

B. A credit to Capital Lease Obligation Payable.

C. A debit to Capital Lease Expense.

D. A debit to Expenditures—Principal of Capital Lease Obligation.

An 88-year-old Chinese-speaking woman is admitted for complaints of dizziness and s/p a syncopal episode while attending a local senior center program. She was brought to the emergency department. She lives with her son and his family in a two-family home, which she owns. She is independent in all activities of daily living (ADLs) and participates in a daily tai chi exercise group with her friends at the local park. She did not want to go to the emergency department, but instead wanted to go home and have some "herbal medicines."

A medical workup reveals that she has aortic stenosis, atrial fibrillation, and hypertension. She is started on an antihypertensive, coumadin, and aspirin and discharged home with her family.

One week later she is readmitted to the hospital with rectal bleeding and bleeding from her gums. She denies taking excessive amounts of coumadin or aspirin. When you ask her son to bring in her medications, only prescribed medications are present, and he reassures you that she is taking the medications according to the physician's orders. She reports that she has not altered her routine at all; she practices tai chi every morning and eats lots of fruits and vegetables. A colonoscopy reveals a polyp, which is removed, and she is transfused with 2 units of packed red blood cells. She is discharged home with her family 2 days later, and home health care is ordered. The home health care nurse visits her 1 day after discharge.

A Chinese-speaking nurse visits her and learns that she is taking all of her prescribed medications as ordered. However, she is taking a supplement of a Chinese herb (gingko biloba) in tablet form twice per day to maintain her memory, and she is also consuming an oriental herbal tea (containing Chinese ginseng, ginger, and garlic) three to four times per day. She states, "I take my pills just like the doctor says, but it is this tea that is making me feel better. It is made of special herbs. It is better than all of those pills." The nurse suggests that the woman stop taking the supplement and drinking the tea until she can find out what herbs it is made of, but she is reluctant to do so because she believes it is the secret to longevity.

1. What actions should the home health nurse take?
2. What information should the nurse include in the medication teaching plan for the patient?
3. Based on the information in the above scenario, do you think that her regimen is causing her rectal bleeding and bleeding gums? Why? Specifically, what elements of her regimen may be contributing to the bleeding?

Please read the case and answer the question at the end of the case.

Title: Last-chance saloon GM prepares to close five factories, attracting Donald Trump’s ire Mary Barra is responding to customers’ soaring appetite for SUVs and pickups

By: Print edition | Business, The Economist.Nov 29th 2018 | NEW YORK

THE CAR industry’s changing fortunes have left a deep mark on Detroit’s urban landscape. Once-bustling factories such as the Fisher body plant, Ford’s Highland Park and the Packard plant became vast, abandoned graphitized shells—a sad reminder of the former might of America’s “motor city”. Now General Motors’s Hamtramck assembly plant looks likely to join the list of closed facilities. On November 26th GM announced that Hamtramck, along with four other factories in North America, and two more unspecified plants elsewhere, would not be assigned new vehicles or components to put together after next year.

News of the cost-cutting initially sent GM’s shares soaring. In total it will trim its North American workforce by a substantial 15%. Another Michigan plant is among those to be idled, as well as facilities in Ohio and Maryland, and in Ontario, Canada. The day after the announcement, however, criticism from President Donald Trump sent shares the other way. Mr Trump tweeted that he was “very disappointed” in Mary Barra, GM’s chief executive, noting that she was not shutting down plants in Mexico or China: “The US saved General Motors, and this is the THANKS we get!” He threatened to cut off GM’s access to federal subsidies for electric cars (although industry-watchers noted that this is not a concern, since GM has mostly used up its permit. Mr Trump is not the only disgruntled politician. Justin Trudeau, Canada’s prime minister, tried to reassure workers about the proposed closure of the plant at Oshawa, on the shores of Lake Ontario, where GM started making cars over half a century ago. After trade liberalisation led to tighter integration of the North American car market, cars became Oshawa’s lifeblood. When the financial crisis pushed GM towards bankruptcy, Canada joined America in bailing out the company to save local jobs.

QUESTION:

The swirl of forces upending the industry means GM probably had little choice but to take some action. As an independent economist, do you agree with the action taken by Ms Mary Barra, GM’s chief executive? Your answer must be supported by the appropriate data and information; and discussed using the appropriate concepts, theories and tools you have learned in Managerial Economics.

1. Jimmy has fallen on hard times recently. Last year he borrowed $250,000 and added an additional $50,000 of his own funds to purchase $300,000 of undeveloped real estate. This year the value of the real estate dropped dramatically and Jimmy’s lender agreed to reduce the loan amount to $230,000. The real estate is worth $200,000 and Jimmy has $46,000 in other assets but no other liabilities. What is the amount Jimmy must include in gross income?

2. Fred currently earns $9,000 per month. Fred has been offered the chance to transfer for three to five years to an overseas affiliate. His employer is willing to pay Fred $10,500 per month if he accepts the assignment. Assume that the maximum foreign earned income exclusion for next year is $107,600. How much U.S. gross income will Fred report if he accepts the assignment abroad on January 1 of next year and works overseas for the entire year?

3.  Hal was awarded a $16,000 scholarship to attend State Hotel School. All scholarship students must work 20 hours per week at the school residency during the term. How much is the taxpayer required to include in gross income?

4.  Terry was ill for three months and missed work during this period. During his illness Terry received $5,000 in sick pay from a disability insurance policy. Terry has disability insurance provided by his employer as a nontaxable fringe benefit. Terry’s employer paid $2,800 in disability premiums for Terry this year. What amount is included in Terry’s gross income?

5.  Janus sued Tiny Toys for personal injuries from swallowing a toy. Janus was paid $30,000 for medical costs and $260,000 for punitive damages. What amounts are included in gross income for the following taxpayers?

6.  Charlie was hired by Ajax this year as a corporate executive and a member of the board of directors. During the current year, Charlie received the following payments or benefits paid on his behalf.  

     Salary payments                                                                     $ 93,000
     Contributions to qualified pension plan                                       10,200
     Qualified health insurance premiums                                            8,400
     Year-end bonus                                                                           15,000
     Annual director’s fee                                                                   10,000
     Group-term life insurance premiums (face=$40,000)                    750
     Whole life insurance premiums (face=$100,000)                         1,420
     Disability insurance premiums (no special elections)             4,350

Charlie uses the cash method and calendar year for tax purposes. Calculate Charlie’s gross income for the current year.

The following information applies to Tammy Taxpayer, employed by Time Travellers Ltd. (a Canadian Controlled Private Corporation).

Gross salary $110,000

Bonus. 50,000

Bonus based on Tammy's hard work negotiating contracts on behalf of the company (of which $15,000 was received on December 25, 2019 and the remainder will be received on January 15, 2020)                    

During 2019, Time Travellers withheld the following amounts from her gross salary:

Registered Pension Plan. $6,000

Charitable Donations - United Way. 2,000

Federal and Provincial Income Taxes. 28,750

• Tammy's employer made a $6,000 matching contribution to her registered pension plan.

• Travelling expenses for a 3 week trip for Tammy were reimbursed by Time Traveller. The cost of the entire trip was $3,000. Tammy spend one week attending a business conference and the other two weeks she stayed on as a vacation

• Time Traveller provided Tammy with a Mercedes Benz, which she used for 10 months of the year for work and pleasure. The following pertains to her automobile usage:

Monthly lease payment. $800

Kilometres driven for employment purposes 29,000 kms

Total kilometres driven during the year 32,000 kms

Operating costs paid by the employer $4,300

• Tammy was required to pay professional association dues of $1,500 for the year.

• Tammy incurred the following expenses while on company business trips throughout the year:

Hotel accommodations $3,500

Airline fare 6,400

Meals 2,300

All of these expenses were charged to Tammy's personal credit card and reimbursed by the employer.

• Tammy was awarded a Shirley Elford glass sculpture, valued at $900, for exceeding her sales targets by 20%.

• Tammy was given one of the limited underground parking spots in her building. The cost of the parking spot is $1,500 and is paid by Time Travellers Ltd.

• Tammy exercised her stock options in 2019. She acquired 2,000 shares on August 1, 2019 for $15 per share when the shares were trading for $22 per share. The options were granted in 2018, when the shares were trading for $14 per share. On November 1, 2019, Tammy sold her shares for $25 per share.

• Time Travellers paid $300 for Tammy's income tax preparation.

REQUIRED:    

Calculate the amount that would be included in calculation of Tammy Taxpayer's Net Employment Income for taxation purposes for the 2019 taxation year. PLEASE SHOW EACH ITEM THAT MAKES UP NET EMPLOYMENT INCOME.

The following information applies to Tammy Taxpayer, employed by Time Travellers Ltd. (a Canadian Controlled Private Corporation).

Bonus based on Tammy’s hard work negotiating contracts on behalf of the company (of which $15,000 was received on December 25, 2019 and the remainder will be received on January 15, 2020)                    

During 2019, Time Travellers withheld the following amounts from her gross salary:

• Tammy’s employer made a $6,000 matching contribution to her registered pension plan.

• Travelling expenses for a 3 week trip for Tammy were reimbursed by Time Traveller. The cost of the entire trip was $3,000. Tammy spend one week attending a business conference and the other two weeks she stayed on as a vacation

• Time Traveller provided Tammy with a Mercedes Benz, which she used for 10 months of the year for work and pleasure. The following pertains to her automobile usage:

• Tammy was required to pay professional association dues of $1,500 for the year.

• Tammy incurred the following expenses while on company business trips throughout the year:

All of these expenses were charged to Tammy’s personal credit card and reimbursed by the employer.

• Tammy was awarded a Shirley Elford glass sculpture, valued at $900, for exceeding her sales targets by 20%.

• Tammy was given one of the limited underground parking spots in her building. The cost of the parking spot is $1,500 and is paid by Time Travellers Ltd.

• Tammy exercised her stock options in 2019. She acquired 2,000 shares on August 1, 2019 for $15 per share when the shares were trading for $22 per share. The options were granted in 2018, when the shares were trading for $14 per share. On November 1, 2019, Tammy sold her shares for $25 per share.

• Time Travellers paid $300 for Tammy’s income tax preparation.

REQUIRED:

Calculate the amount that would be included in calculation of Tammy Taxpayer’s Net Employment Income for taxation purposes for the 2019 taxation year. PLEASE SHOW EACH ITEM THAT MAKES UP NET EMPLOYMENT INCOME.

he newly formed Buffalo School District engaged in the following transactions and other events during the year:levied and collected property taxes of $110 million. 2. It issued $30 million in long-term bonds to construct a building. It placed the cash received in a special fund set aside to account for the bond proceeds. 3. During the year it constructed the building at a cost of $25 million. It expects to spend the $5 million balance in the following year. The building has an estimated useful life of 25 years. 4. It incurred $70 million in general operating costs, of which it paid $63 million. It expects to pay the balance early the following year. 5. It transferred$12million from its general fund to a fund established to account for resources set aside to service the debt. Of this, $10 million was for repayment of the debt; $2 million was for interest. 6. From the special fund established to service the debt, it paid $2 million in interest and $6 million in principal. 7. It collected $4 million in hotel taxes restricted to promoting tourism.Since the resources were restricted they were accounted for in a special restricted fund. During the year, the district spent $3 million on promoting tourism. 8. The district established a supplies store to provide supplies to the district’s various departments by transferring $4 million from the general fund. It accounted for the store in an internal service (proprietary) fund. During the year the store purchased (and paid for) $2 million in supplies. Of these it ‘‘sold’’ $1 million, at cost (for cash),to departments accounted for in the general fund. During the year these departments used all of the supplies that they had purchased. a. Prepare journal entries to record the transactions and other events in appropriate funds. APrepare journal entries to record the transactions and other events in appropriate funds. Assume that governmental funds are accounted for on a modified accrual basis and focus only on current financial resources (and thus do not give balance sheet recognition either to capital assets or long-term debts). Proprietary funds are accounted for on a full accrual basis. b. Prepare a combined balance sheet—one that has a separate column for each of the governmental funds you established. c. Prepare a combined statement of revenues, expenditures, and changes in fund balances for all governmental funds. Prepare a separate statement of revenues, expenses, and changes in fund net position for any proprietary funds you established. d. Prepare a government-wide statement of net position and a government-wide statement of activities in which all funds are consolidated and are accounted for on a full accrual basis. Be sure to include both long-term assets and liabilities on the statement of net position and to depreciate the long-term assets. Also, be sure to adjust for any interfund activity.

The following information applies to Tammy Taxpayer, employed by Time Travellers Ltd. (a Canadian Controlled Private Corporation).

Bonus based on Tammy’s hard work negotiating contracts on behalf of the company (of which $15,000 was received on December 25, 2019 and the remainder will be received on January 15, 2020)                    

During 2019, Time Travellers withheld the following amounts from her gross salary:

• Tammy’s employer made a $6,000 matching contribution to her registered pension plan.

• Travelling expenses for a 3 week trip for Tammy were reimbursed by Time Traveller. The cost of the entire trip was $3,000. Tammy spend one week attending a business conference and the other two weeks she stayed on as a vacation

• Time Traveller provided Tammy with a Mercedes Benz, which she used for 10 months of the year for work and pleasure. The following pertains to her automobile usage:

• Tammy was required to pay professional association dues of $1,500 for the year.

• Tammy incurred the following expenses while on company business trips throughout the year:

All of these expenses were charged to Tammy’s personal credit card and reimbursed by the employer.

• Tammy was awarded a Shirley Elford glass sculpture, valued at $900, for exceeding her sales targets by 20%.

• Tammy was given one of the limited underground parking spots in her building. The cost of the parking spot is $1,500 and is paid by Time Travellers Ltd.

• Tammy exercised her stock options in 2019. She acquired 2,000 shares on August 1, 2019 for $15 per share when the shares were trading for $22 per share. The options were granted in 2018, when the shares were trading for $14 per share. On November 1, 2019, Tammy sold her shares for $25 per share.

• Time Travellers paid $300 for Tammy’s income tax preparation.

REQUIRED:

Calculate the amount that would be included in calculation of Tammy Taxpayer’s Net Employment Income for taxation purposes for the 2019 taxation year. PLEASE SHOW EACH ITEM THAT MAKES UP NET EMPLOYMENT INCOME.