Disney raises theme park ticket prices, again. You've got to pay more to play in the Magic Kingdom, because Walt Disney just raised its ticket prices again, breaking the $100 mark. A one-day ticket to the Walt Disney World Resort's flagship theme park, the Magic Kingdom, now costs $105, up from $99. Prices had been jacked up by $4 just last year. The price of admission applies to anyone 10 years and older entering the Orlando-area theme park. Younger children, aged 3 to 9, pay $99 to enter the Magic Kingdom, compared to $94 last year. Prices also increased for the other Disney World theme parks -- EPCOT, the Animal Kingdom Park and Hollywood Studios -- to $97 for visitors aged 10 and older, compared to $94 last year. Children aged 3 to 10 now pay $91 for a single-day ticket to those parks, compared to $88 last year. The price hikes seem to be working for parent company Walt Disney World Resorts, which reported a 7% increase in revenue year-over-year, largely from its parks. "Increased guest spending was primarily due to higher average ticket prices for admissions at our theme parks," Walt Disney Company (DIS) said in a financial report. A Disney spokeswoman said the "vast majority" of visitors buy the multi-day passes, which can knock the price down to $96 per day for a two-day ticket, or $63 per day for a five-day ticket. She also said that a ticket for a single day at Walt Disney World buys 16 hours of entertainment.

1. What is the price of a one-day ticket to the Magic Kingdom?

2. Given the income elasticity of demand how do we know if a trip to Disney World is a normal good or an inferior good?

3. The news article tells us that with ticket prices rising, revenue is increasing. What does this tell us about the price elasticity of demand of a trip to Disney World?

The following information is available to reconcile a company's book balance of cash with its bank statement’s cash balance as of June 30. The June 30 cash balance according to the accounting records is $8,542, and the bank statement cash balance for that date is $8,047.

a) The bank erroneously cleared a $95 check against the account in June that was not issued by the company. The check documentation included with the bank statement indicated that another company issued the check.

b) On June 30, the bank issued a credit memorandum for $5 interest earned on the company’s account.

c) When the June checks were compared with entries in the accounting records, it was found that Check No. 1727 had been correctly drawn for $540 to pay for advertising. However, it was erroneously entered in the accounting records as $450.

d) A credit memorandum indicated that the bank collected $900 cash on a note receivable for the company, deducted a $30 collection fee, and credited the balance to the company's Cash account. The company did not record this transaction before receiving the statement.

e) A debit memorandum of $895 was enclosed with the bank statement for an NSF check for $870 received from a customer. The bank assessed a $25 fee for processing it.

f) June 30 daily cash receipts of $1,315 were placed in the bank's night depository on that date but did not appear on the June 30 bank statement.

g) June 30 cash disbursements journal indicated that Check No. 1737 for $830 and Check No. 1740 for $280 were both written and entered in the accounting records but were not among the canceled checks.

h) A debit memorandum for $85 indicated the bank deducted the annual lock box fee for the company.

Instructions

a) Prepare the bank reconciliation for this company as of June 30.

b) Prepare the related journal entries

The trial balance of Sporting House, Inc. shows a $50,000 outstanding balance in Accounts Receivable at the end of 2016. During 2017, 60% of the total credit sales of $2 million was collected, and no receivables were written off as uncollectible. The company estimated that 1.5% of the credit sales would be uncollectible. During 2018, the account of Larry Johnson, who owed $600, was judged to be uncollectible and was written off. At the end of 2018, the amount previously written off was collected in full from Mr. Johnson.

1) Prepare the journal entry needed at 12/31/17.

2) Prepare the journal entry for the write-off of Johnson’s account.

3) Prepare the journal entry for the collection from Johnson.

show all work include any Stata work

You estimate the regression model on the next page in order to study the determinants of wealth. Specifically, data from 9,275 individuals on the following variables are gathered:

            netfai =   net financial wealth, in thousands of dollars, for individual i.

            inci =    income, in thousands of dollars, for individual i.

            agei =     age of individual i

            marriedi =   dummy equal to 1 if individual i is married

            malei =     dummy equal to 1 if individual i is male

           p401ki =   dummy equal to 1 if individual i participates in a 401k retirement plan

Interpret the coefficients of age and married. Are they significant? At what level? (Use the p-value)

How much will a 10% increase in average income change wage?

What econometric problems appear to exist and not exist? Be specific, backing up your answers with evidence from the regression and tests in the next page.

Based on the regression results, do males have greater wealth than females? If so, by how much?

USE THE FOLLOWING DATA

. regress nettfa inc age marr male p401k

      Source |       SS       df       MS              Number of obs =    9275

-------------+------------------------------           F( 5, 9269) = 411.56

       Model | 6893418.45     5 1378683.69           Prob > F      = 0.0000

    Residual |    31049971 9269 3349.87281           R-squared     = 0.1817

-------------+------------------------------           Adj R-squared = 0.1812

       Total | 37943389.5 9274   4091.3726           Root MSE      = 57.878

------------------------------------------------------------------------------

      nettfa |      Coef.   Std. Err.      t    P>|t|     [95% Conf. Interval]

-------------+----------------------------------------------------------------

         inc |   .9565831   .0279059    34.28   0.000     .9018815   1.011285

         age |   1.044085   .0590782    17.67   0.000     .9282784    1.159891

        marr | -9.521908   1.433179    -6.64   0.000    -12.33125   -6.712562

        male |   .5348946   1.614591     0.33   0.740    -2.630058    3.699848

       p401k |   13.11685   1.396504     9.39   0.000     10.37939     15.8543

       _cons | -59.11724   2.746083   -21.53   0.000    -64.50017   -53.73431

------------------------------------------------------------------------------

correlate inc age marr male p401k

(obs=9275)

             |      inc      age     marr     male    p401k

-------------+---------------------------------------------

         inc |   1.0000

         age |   0.1056   1.0000

        marr |   0.3620   0.0590   1.0000

        male | -0.0699 -0.1203 -0.3640   1.0000

       p401k |   0.2708   0.0260   0.0856 -0.0249   1.0000

. estat ovtest

Ramsey RESET test using powers of the fitted values of nettfa

       Ho: model has no omitted variables

                F(3, 9266) =    246.86

                  Prob > F =      0.0000

. summarize nettfa inc age marr male p401k

    Variable |       Obs        Mean    Std. Dev.       Min        Max

-------------+--------------------------------------------------------

      nettfa |      9275    19.07168    63.96384   -502.302   1536.798

         inc |      9275    39.25464       24.09     10.008    199.041

         age |      9275    41.08022    10.29952         25         64

        marr |      9275    .6285714    .4832128          0          1

        male |      9275    .2044205    .4032993          0          1

-------------+--------------------------------------------------------

       p401k |      9275    .2762264    .4471543          0          1

Describe Ford Motors Company including the products or services, annual sales, and market share. Who are the competitors and give a brief overview of each businesses in the market.

Name another company in the same industry as General Electric (GE) that provides benefits to multiple stakeholders, and briefly explain who those stakeholders are and how they benefit.

Question 10

When evaluating two independent investments, the NPV approach is a reliable capital budgeting technique without any potential problems.

a. True

b. False

Question 13

Which of the following statements about portfolio is not true?

a. The expected return of a portfolio is the weighted average of the expected returns of all individual stocks in the portfolio.

b. Portfolio risk is the weighted average of the standard deviations of all individual stocks in the portfolio.

c. Portfolio beta is the weighted average of the beta values of all individual stocks in the portfolio.

Even in the absence of genetic recombination, meiosis is an important source of genetic variation in sexually reproducing organisms. Use as an example a species with 2n=8, and an individual of that species that is a quadruple heterozygote for loci A, B, C, and D, with each loci on a different chromosome. Determine how many different types of gametes this individual can produce, and explain how segregation and independent assortment mechanisms produce genetic variation in the gametes produced by this individual. Use the following terms in your response: genes; alleles; homologous chromosomes; non-homologous chromosomes.