Q2. You have studied some of principles of healthcare ethics. give examples for ( Autonomy, Non-maleficence, Beneficence and Justice )?

In simple terms (so a non-physicist with an upper division math background can understand), what is a Lagrangian and what is it used for?

How have we evolved over time to rely upon “non-paper” money to drive economies around the world?

Build a case for and against non-reciprocity principles in developing countries. Be sure to provide a comprehensive rationale for each position and examples.

On June 15, 2018, Sanderson Construction entered into a long-term construction contract to build a baseball stadium in Washington, D.C., for $220 million. The expected completion date is April 1, 2020, just in time for the 2020 baseball season. Costs incurred and estimated costs to complete at year-end for the life of the contract are as follows ($ in millions):

Required:
1. Compute the revenue and gross profit will Sanderson report in its 2018, 2019, and 2020 income statements related to this contract assuming Sanderson recognizes revenue over time according to percentage of completion.
2. Compute the revenue and gross profit will Sanderson report in its 2018, 2019, and 2020 income statements related to this contract assuming this project does not qualify for revenue recognition over time.
3. Suppose the estimated costs to complete at the end of 2019 are $80 million instead of $60 million. Compute the amount of revenue and gross profit or loss to be recognized in 2019 using the percentage of completion method.

Compute the revenue and gross profit will Sanderson report in its 2018, 2019, and 2020 income statements related to this contract assuming Sanderson recognizes revenue over time according to percentage of completion. (Enter your answers in millions. Loss amounts should be indicated with a minus sign. Use percentages as calculated and rounded in the table below to arrive at your final answer.)

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Compute the revenue and gross profit will Sanderson report in its 2018, 2019, and 2020 income statements related to this contract assuming this project does not qualify for revenue recognition over time. (Enter your answers in millions. Loss amounts should be indicated with a minus sign.)

Suppose the estimated costs to complete at the end of 2019 are $80 million instead of $60 million. Compute the amount of revenue and gross profit or loss to be recognized in 2019 using the percentage of completion method. (Enter your answers in millions. Use percentages as calculated and rounded in the table below to arrive at your final answer.)

SPRING TRAINING INC.  

Balance Sheet                            

December 31, 2017

ASSETS                                                         LIABILITIES

Cash                              $25,000             Accounts Payable                 $50,000

Accounts Rec.                   5,000             Mortgage Payable                 50,000

Inventory                        14,000              

Supplies                            2,000             Total Liabilities                                  $100,000

Land                                18,000

Buildings      $220,000                             STOCKHOLDER EQUITY

    Acc. Depr. <20,000> 200,000          

Equipment     200,000                             Common Stock $5 Par      $30,000

    Acc. Depr <14,000> 186,000             Excess of Par                     $300,000

                                                                  Retained Earnings               20,000

      Total Equity                                     $350,000

TOTAL ASSETS        $450,000              TOTAL LIAB. & EQUITY         $450,000

Jan. 2]     Sold 200,000 shares of common stock for $2,600,000.

Jan. 3]    Purchased on account $40,000 of inventory for resale to customers. Terms

              were 5/60 net 90.

Jan. 10] Paid $5,000 for promotion & marketing expenses. Promotion would run

   through the month of January 2018.

Jan. 15] Purchased a 3-year insurance policy for $3,600 in cash. Effective date is

   January 1, 2018 to December 31, 2020.

Jan. 27]   Paid in full for purchases acquired January 3, 2018.

Feb. 1]    Paid $3,000 as a mortgage payment. The balance on the mortgage is listed

    on the balance sheet dated December 31, 2017. Interest Rate is 8 per cent.

Feb. 10] Sales revenue generated was $400,000. $10,000 in cash received this date

    the balance on account. Terms 4/60 net 60 days.

Feb. 27]   Paid wages for the months of January and February 2018. Total wages

     that was paid for the two months was $40,000.

Mar. 1]   Acquired $200,000 of equipment. Useful life is 10 years. Signed a note

    (12%) for entire amount.

Mar. 1]    Declared a dividend of 50 cents per share.

Mar. 1]    Customer returned $25,000 of items acquired on February 10, 2018.

Mar. 1]    Signed a lease for warehouse space rental period is from April 1, 2018 to

                 December 31, 2018. A $10,000 deposit was paid on March 1.

Mar. 1]    Borrowed $80,000, and signed a note for this amount at 10%.

Mar. 3]    Paid the February Mortgage payment only this time $7,000 was paid.

Mar. 6]   Sales on account to customers amounted to $200,000. Terms are 10/60 net

     90 days.

Mar. 15]   Received full amount due from the February 10 sale.

Mar. 15]   Customer returned items that were sold for $35,000 on March 6, 2018.

Mar. 17]   Purchased $40,000 of inventory and terms were 8/30 net 90. This was a

      cash purchase.

Mar. 30]   Supplies were now determined to be $500.

Mar. 31]   Customer paid in full for the March 6 sale.

Mar. 31]   Spring Training paid $20,000 in wages for the month of March.

Mar. 31]   Paid $30,000 on the equipment note entered on March 1, 2018.

OTHER INFORMATION

1. Tax rate is 20%.

2. All equipment has a useful life of ten years.

4. Building has useful life of 20 years.

5. Ending Inventory for Spring Training Inc. is $20,000.

Rquirement:

PREPARE A SET OF FINANCIAL STATEMENTS FOR THE QUARTER ENDING MARCH 31, 2018

Please prepare for T accounts, Journal Entry, Income statement, Balance sheet and statement of Retained Earnings

One out of 25 healthy people carries a single gene for cystic fibrosis (CF), these people are called carriers and healthy people without a CF gene are called non-carriers. A uniformly-chosen random healthy person has probability 1/25 of being a carrier.
A person with two CF genes is not healthy; they are sick (with cystic fibrosis). The child of a carrier has probability 1/2 of inheriting a CF gene from that parent. The child of two carriers inherits each of their parents CF genes independently, so the child has probability 1/4 of having CF.

1. Two uniformly-chosen random healthy people have a child together. What is the probability that the child has CF?
2. Two uniformly-chosen random healthy people have a child together. What is the probability that the child is a healthy non-carrier?
3. A carrier has a child with a uniformly-chosen random healthy person. What is the probability that the child has CF?
4. A carrier has a child with a uniformly-chosen random healthy person. What is the probability that the child is a (healthy) carrier?
5. Two uniformly-chosen healthy people have a baby. A quick blood test, administered minutes after birth, shows that the baby has at least one CF gene, but gives no other information. What is the probability that the baby has CF?

Ok so this is how I solved it (I have not included all my steps as they are long):

for number 1, I figured the probability is 1/2500 because the probability of a child having CF is = to the probability of the father being a carrier * by the probability that the mother is a carrier * by the probability that it inherits both CF genes... 1/25 * 1/25 * 1/4...

for number 2, I got 2401/2500 because pr of child is a healthy non carrier is = (pr of father being a carrier * pr of mother being a non carrier)
+ (pr of father is non carrier * pr mother being a carrier * pr of inheriting no CF gene)
+ (pr of father is non carrier * mother being a non carrier)
+ (pr of father is carrier * pr of mother is carrier * inheriting no CF gene)
... calculating these probabilities gave me the answer above.

for number 3, I got 1/25 * 1/4 because the probability of it inheriting both genes is 1/4 * by the probability of the other parent being a carrier is 1/25 ... I got 1/100

for number 4, I got 49/1250 (this calculation was similar to #2 but a bit longer)

for number 5, here we have the probability of a baby having CF given that the baby has one CF gene:
P(baby has CF) = 1 - P(healthy non carrier) - P(healthy carrier)
= 1 - 2401/2500 - 98/2500
= 1 / 2500
and the P(has CF given at least one CF gene)
= 1/ 2500
-------------
1/2500 + 98/2500
=1/99
Please let me know if I computed these correctly, if not to try and guide me towards the direction!
thanks!

2-6. Effect of accruals on the financial statements

Cordell Inc. experienced the following events in 2018, its first year of operation:

1. Received $40,000 cash from the issue of common stock.

2. Performed services on account for $82,000.

3. Paid a $6,000 cash dividend to the stockholders.

4. Collected $76,000 of the accounts receivable.

5. Paid $53,000 cash for other operating expenses.

6. Performed services for $19,000 cash.

7. Recognized $3,500 of accrued utilities expense at the end of the year.

Required

a. Identify the events that result in revenue or expense recognition.

b. Based on your response to Requirement a, determine the amount of net income reported on the 2018 income statement.

c. Identify the events that affect the statement of cash flows.

d. Based on your response to Requirement c, determine the amount of cash flow from operating activities reported on the 2018 statement of cash flows.

e. What is the before- and after-closing balance in the Service Revenue account? What other accounts would be closed at the end of the accounting cycle?

f. What is the balance of the Retained Earnings account that appears on the 2018 balance sheet?

2-7. Net income versus changes in cash

In 2018, Lee Inc. billed its customers $62,000 for services performed. The company collected $51,000 of the amount billed. Lee incurred $39,000 of other operating expenses on account. Lee paid $31,000 of the accounts payable. Lee acquired $40,000 cash from the issue of common stock. The company invested $21,000 cash in the purchase of land.

Required

(Hint: Identify the six events described in the paragraph and record them in general ledger accounts under an accounting equation before attempting to answer the questions.) Use the preceding information to answer the following questions:

a. What amount of revenue will Lee report on the 2018 income statement?

b. What amount of cash flow from revenue will be reported on the statement of cash flows?

c. What is the net income for the period?

d. What is the net cash flow from operating activities for the period?

e. Why is the amount of net income different from the net cash flow from operating activities for the period?

f. What is the amount of net cash flow from investing activities?

g. What is the amount of net cash flow from financing activities?

h. What amounts of total assets, liabilities, and equity will be reported on the year-end balance sheet?

2-8. Supplies and the financial statements model

Pizza Express Inc. began the 2018 accounting period with $2,500 cash, $1,400 of common stock, and $1,100 of retained earnings. Pizza Express was affected by the following accounting events during 2018:

1. Purchased $3,600 of supplies on account.

2. Earned and collected $12,300 of cash revenue.

3. Paid $2,700 cash on accounts payable.

4. Adjusted the records to reflect the use of supplies. A physical count indicated that $250 of supplies was still on hand on December 31, 2018.

Required

a. Show the effects of the events on the financial statements using a horizontal statements model like the following one. In the Cash Flows column, use OA to designate operating activity, IA

for investing activity, FA for financing activity, and NC for net

change in cash. Use NA to indicate accounts not affected by the event. The beginning balances are entered in the following example:

b. Explain the difference between the amount of net income and amount of net cash flow from operating activities.

2-9. Supplies on financial statements

Yard Professionals Inc. experienced the following events in 2018, its first year of operation:

1. Performed services for $35,000 cash.

2. Purchased $6,000 of supplies on account.

3. A physical count on December 31, 2018, found that there was

$1,800 of supplies on hand.

Required

Based on this information alone:

a. Record the events under an accounting equation.

b. Prepare an income statement, balance sheet, and statement of cash flows for the 2018 accounting period.

c. What is the balance in the Supplies account as of January 1, 2019?

d. What is the balance in the Supplies Expense account as of January 1, 2019?

2-22. Closing the accounts

The following information was drawn from the accounting records of Wyckoff Company as of December 31, 2018, before the temporary accounts had been closed. The Cash balance was

$3,600, and Notes Payable amounted to $4,000. The company had revenues of $7,500 and expenses of $3,400. The company’s Land account had a $8,000 balance. Dividends amounted to

$1,000. The balance of the Common Stock account was $2,000.

Required

a. Identify which accounts would be classified as permanent and which accounts would be classified as temporary.

b. Assuming that Wyckoff’s beginning balance (as of January 1, 2018) in the Retained Earnings account was $2,500, determine its balance after the temporary accounts were closed at the end

of 2018.

c. What amount of net income would Wyckoff Company report on its 2018 income statement?

d. Explain why the amount of net income differs from the amount of the ending Retained Earnings balance.

e. What are the balances in the revenue, expense, and dividend

accounts on January 1, 2019

2-25. Classifying events on the statement of cash flows

The following transactions pertain to the operations of Ewing Company for 2018:

1. Acquired $30,000 cash from the issue of common stock.

2. Provided $65,000 of services on account.

3. Paid $22,000 cash on accounts payable.

4. Performed services for $8,000 cash.

5. Collected $51,000 cash from accounts receivable.

6. Incurred $37,000 of operating expenses on account.

7. Paid $6,500 cash for one year’s rent in advance.

8. Paid a $4,000 cash dividend to the stockholders.

9. Paid $1,200 cash for supplies to be used in the future.

10. Recognized $3,100 of accrued salaries expense.

Required

a. Classify the cash flows from these transactions as operating activities (OA), investing activities (IA), or financing activities (FA). Use NA for transactions that do not affect the statement of

cash flows.

b.         Prepare a statement of cash flows. (There is no beginning cash balance.)

Use an example to explain the matching concept.

The current asset section of the Excalibur Tire Company’s balance sheet consists of cash, marketable securities, accounts receivable, and inventories. The December 31, 2018, balance sheet revealed the following:

Required:
Determine the following 2018 balance sheet items:
current assets and long term assets

On january 1st 2016, the company purchased the above asset.