| Country Myanmar Ethiopia Burkina Faso Ghana India Kenya Nicaragua Guatemala Peru Algeria China Colombia Lebanon Ecuador Argentina Mexico Tunisia Venezuela, RB Brazil Turkey Greece Portugal United Arab Emirates Malta Spain Israel Italy United Kingdom Japan Ireland Finland Iceland Belgium New Zealand France Canada Germany Austria Netherlands Australia Denmark Sweden Luxembourg United States Norway Switzerland |
health $ per capita 20 27 35 58 75 78 178 233 359 362 420 569 569 579 605 677 785 923 947 1037 1743 2097 2405 2471 2658 2910 3258 3377 3703 4239 4612 4662 4884 4896 4959 5292 5411 5581 5694 6031 6463 6808 8138 9403 9522 9674 |
||
In: Statistics and Probability
32. A manager who exhibits more of a Laissez-Faire type of leadership is a manager who would be best utilized in the following work environment:
a. the local hospital
b. the NASA research lab
c. the U.S. Post Office
d. the U.S. Military
e. the check-out lane a Kroger
33. John is the senior vice president of his company. He learned at a senior staff meeting that the company’s research staff has made an amazing discovery that is almost certain to result in several profitable new patents. He is confident that once this information becomes public knowledge, the price of his company’s stock will soar. He calls his broker and places an immediate order to buy 5,000 additional shares of stock in the company. John’s actions are:
a. perfectly legal, because he didn’t obtain the information
illegally.
b. an example of illegal insider trading.
c. an example of trading on the margin, which is legal.
d. an example of preemptive buying, which is technically legal but
considered highly unethical by
34. Sally owns a bond with a maturity value of $1,000 and a coupon rate of 15 percent. She will receive in annual interest until the bond reaches maturity, or he sells the bond to someone else.
a. $7.50
b. $50
c. $150
d. $1500
e. none of the above
35. Individual investors are not permitted to directly trade stocks on the NYSE or NASDAQ. Therefore, individuals must seek the help of a(n) .
a. underwriter.
b. banker
c. investment banker
d. broker
36. The objective of the long position in stock investment strategy is to:
a. predict changes in stock prices in order to earn a positive profit by buying high and selling low.
b. getting completely out of the stock market when stock prices
begin to rise.
c. identify new companies with potential and buy their stock before
the stick price begins to rise
d. hold a diversified portfolio of stocks for a long period of time in order to take advantage of the
downward trend in the stock market
37.Jasmine is an investment broker for a large firm.
Understanding overall market conditions helps her
advise her clients who invest in stocks. Which of the following are
indices that are commonly used to describe the price movement of
securities in the U.S. market?
A. Fortune 500 and the Turbo 900
B. The Nikkei 225 Index and the Boston Big Index
C. The FTSE 100 and the SSE Composite
D. The DJIA and the S&P 500
38. White collar crime is a victimless crime.
a. True b. False
39. The price-to-earnings ratio:
A. develops an investor’s knowledge of the price of various stocks in a single industry
B.is of little value to investors these days due to the fact that market values far exceed earnings
values.
C.is important to investors because a higher P/E ratio means lesser growth in earnings over
time.
D.is important to investors because a higher P/E ratio means greater growth in earnings over time.
40. The corporations that issue stocks and bonds do not receive any funds from sales on the secondary market.
a. True b. False
In: Accounting
Pitman Company is a small editorial services company owned and operated by Jan Pitman. On October 31, 2019 the end of the current year, Pitman Company’s accounting clerk prepared the following unadjusted trial balance:
Pitman Company
UNADJUSTED TRIAL BALANCE
October 31, 2019
| ACCOUNT TITLE | DEBIT | CREDIT | |
|---|---|---|---|
|
1 |
Cash |
7,420.00 |
|
|
2 |
Accounts Receivable |
38,360.00 |
|
|
3 |
Prepaid Insurance |
7,320.00 |
|
|
4 |
Supplies |
2,390.00 |
|
|
5 |
Land |
117,000.00 |
|
|
6 |
Building |
154,900.00 |
|
|
7 |
Accumulated Depreciation-Building |
85,745.00 |
|
|
8 |
Equipment |
130,900.00 |
|
|
9 |
Accumulated Depreciation-Equipment |
97,550.00 |
|
|
10 |
Accounts Payable |
11,735.00 |
|
|
11 |
Unearned Rent |
7,130.00 |
|
|
12 |
Jan Pitman, Capital |
227,645.00 |
|
|
13 |
Jan Pitman, Drawing |
14,705.00 |
|
|
14 |
Fees Earned |
325,550.00 |
|
|
15 |
Salaries and Wages Expense |
193,870.00 |
|
|
16 |
Utilities Expense |
42,220.00 |
|
|
17 |
Advertising Expense |
22,740.00 |
|
|
18 |
Repairs Expense |
17,455.00 |
|
|
19 |
Miscellaneous Expense |
6,075.00 |
|
|
20 |
Totals |
755,355.00 |
755,355.00 |
The data needed to determine year-end adjustments are as follows:
| a. | Unexpired insurance at October 31, $5,850. |
| b. | Supplies on hand at October 31, $310. |
| c. | Depreciation of building for the year, $7,750. |
| d. | Depreciation of equipment for the year, $4,220. |
| e. | Unearned rent at October 31, $1,495. |
| f. | Accrued salaries and wages at October 31, $3,040. |
| g. | Fees earned but unbilled on October 31, $11,185. |
| Required: | |
| 1. | Journalize the adjusting entries using the following additional accounts: Salaries and Wages Payable, Rent Revenue, Insurance Expense, Depreciation Expense—Building, Depreciation Expense—Equipment and Supplies Expense. Refer to the Chart of Accounts for exact wording of account titles. |
| 2. | Determine the balances of the accounts affected by the adjusting entries and prepare an adjusted trial balance. |
In: Accounting
Sears Editing Company is a small editorial services company owned and operated by Deloris Sears. On January 31, 20Y1, the end of the current year, Sears Editing Company’s accounting clerk prepared the following unadjusted trial balance:
Sears Editing Company
UNADJUSTED TRIAL BALANCE
January 31, 20Y1
| ACCOUNT TITLE | DEBIT | CREDIT | |
|---|---|---|---|
|
1 |
Cash |
7,655.00 |
|
|
2 |
Accounts Receivable |
38,345.00 |
|
|
3 |
Prepaid Insurance |
7,075.00 |
|
|
4 |
Supplies |
2,290.00 |
|
|
5 |
Land |
113,500.00 |
|
|
6 |
Building |
149,450.00 |
|
|
7 |
Accumulated Depreciation-Building |
87,905.00 |
|
|
8 |
Equipment |
133,250.00 |
|
|
9 |
Accumulated Depreciation-Equipment |
96,435.00 |
|
|
10 |
Accounts Payable |
11,860.00 |
|
|
11 |
Unearned Rent |
6,705.00 |
|
|
12 |
Common Stock |
74,530.00 |
|
|
13 |
Retained Earnings |
146,290.00 |
|
|
14 |
Dividends |
14,690.00 |
|
|
15 |
Fees Earned |
328,600.00 |
|
|
16 |
Salaries and Wages Expense |
198,220.00 |
|
|
17 |
Utilities Expense |
42,120.00 |
|
|
18 |
Advertising Expense |
22,315.00 |
|
|
19 |
Repairs Expense |
17,210.00 |
|
|
20 |
Miscellaneous Expense |
6,205.00 |
|
|
21 |
Totals |
752,325.00 |
752,325.00 |
The data needed to determine year-end adjustments are as follows:
| a. | Unexpired insurance at January 31, $5,860. |
| b. | Supplies on hand at January 31, $545. |
| c. | Depreciation of building for the year, $7,985. |
| d. | Depreciation of equipment for the year, $4,080. |
| e. | Rent unearned at January 31, $1,145. |
| f. | Accrued salaries and wages at January 31, $3,490. |
| g. | Fees earned but unbilled on January 31, $11,640. |
| Required: | |
| 1. | Journalize the adjusting entries using the following additional accounts: Salaries and Wages Payable; Rent Revenue; Insurance Expense; Depreciation Expense—Building; Depreciation Expense—Equipment; and Supplies Expense. Refer to the Chart of Accounts for exact wording of account titles. |
| 2. | Determine the balances of the accounts affected by the adjusting entries, and prepare an adjusted trial balance. |
In: Accounting
| Required: | |
| 1. | Journalize the adjusting entries using the following additional accounts: Salaries and Wages Payable; Rent Revenue; Insurance Expense; Depreciation Expense—Building; Depreciation Expense—Equipment; and Supplies Expense. Refer to the Chart of Accounts for exact wording of account titles. |
| 2. | Determine the balances of the accounts affected by the adjusting entries, and prepare an adjusted trial balance. |
Sears Editing Company is a small editorial services company owned and operated by Deloris Sears. On January 31, 20Y1, the end of the current year, Sears Editing Company’s accounting clerk prepared the following unadjusted trial balance:
Sears Editing Company
UNADJUSTED TRIAL BALANCE
January 31, 20Y1
| ACCOUNT TITLE | DEBIT | CREDIT | |
|---|---|---|---|
|
1 |
Cash |
7,565.00 |
|
|
2 |
Accounts Receivable |
38,860.00 |
|
|
3 |
Prepaid Insurance |
7,310.00 |
|
|
4 |
Supplies |
2,435.00 |
|
|
5 |
Land |
117,450.00 |
|
|
6 |
Building |
153,100.00 |
|
|
7 |
Accumulated Depreciation-Building |
87,230.00 |
|
|
8 |
Equipment |
137,150.00 |
|
|
9 |
Accumulated Depreciation-Equipment |
99,160.00 |
|
|
10 |
Accounts Payable |
12,005.00 |
|
|
11 |
Unearned Rent |
6,425.00 |
|
|
12 |
Common Stock |
74,720.00 |
|
|
13 |
Retained Earnings |
156,765.00 |
|
|
14 |
Dividends |
14,500.00 |
|
|
15 |
Fees Earned |
327,050.00 |
|
|
16 |
Salaries and Wages Expense |
196,570.00 |
|
|
17 |
Utilities Expense |
42,485.00 |
|
|
18 |
Advertising Expense |
22,730.00 |
|
|
19 |
Repairs Expense |
17,280.00 |
|
|
20 |
Miscellaneous Expense |
5,920.00 |
|
|
21 |
Totals |
763,355.00 |
763,355.00 |
The data needed to determine year-end adjustments are as follows:
| a. | Unexpired insurance at January 31, $5,985. |
| b. | Supplies on hand at January 31, $470. |
| c. | Depreciation of building for the year, $7,900. |
| d. | Depreciation of equipment for the year, $4,590. |
| e. | Rent unearned at January 31, $1,560. |
| f. | Accrued salaries and wages at January 31, $3,085. |
| g. | Fees earned but unbilled on January 31, $11,010. |
In: Accounting
The condensed financial statements of Murawski Company for the
years 2014 and 2015 are presented below.
|
MURAWSKI COMPANY |
||||||
|
2015 |
2014 |
|||||
| Current assets | ||||||
| Cash and cash equivalents | $ 364 | $ 367 | ||||
| Accounts receivable (net) | 387 | 466 | ||||
| Inventory | 373 | 446 | ||||
| Prepaid expenses | 140 | 131 | ||||
| Total current assets | 1,264 | 1,410 | ||||
| Property, plant, and equipment | 363 | 434 | ||||
| Investments | 11 | 11 | ||||
| Intangibles and other assets | 530 | 545 | ||||
| Total assets | $2,168 | $2,400 | ||||
| Current liabilities | $ 801 | $ 881 | ||||
| Long-term liabilities | 355 | 406 | ||||
| Stockholders’ equity—common | 1,012 | 1,113 | ||||
| Total liabilities and stockholders’ equity | $2,168 | $2,400 | ||||
|
MURAWSKI COMPANY |
||||||
|
2015 |
2014 |
|||||
| Sales revenue | $3,921 | $3,800 | ||||
| Costs and expenses | ||||||
| Cost of goods sold | 887 | 969 | ||||
| Selling & administrative expenses | 2,319 | 2,384 | ||||
| Interest expense | 25 | 22 | ||||
| Total costs and expenses | 3,231 | 3,375 | ||||
| Income before income taxes | 690 | 425 | ||||
| Income tax expense | 139 | 145 | ||||
| Net income | $ 551 | $ 280 | ||||
Compute the following ratios for 2015 and 2014. (Round
answers to 1 decimal place, e.g. 1.6 or 1.6%.)
| (a) | Current ratio. | |
| (b) | Inventory turnover. (Inventory on 12/31/13 was $335.) | |
| (c) | Profit margin. | |
| (d) | Return on assets. (Assets on 12/31/13 were $1,900.) | |
| (e) | Return on common stockholders’ equity. (Equity on 12/31/13 was $903.) | |
| (f) | Debt to assets ratio. | |
| (g) | Times interest earned. |
|
2015 |
2014 |
|||||
| Current ratio | :1 | :1 | ||||
| Inventory turnover | times | times | ||||
| Profit margin ratio | % | % | ||||
| Return on assets | % | % | ||||
| Return on common stockholders’ equity | % | % | ||||
| Debt to assets ratio | % | % | ||||
| Times interest earned | times | times | ||||
In: Accounting
Pitman Company is a small editorial services company owned and operated by Jan Pitman. On October 31, 2019 the end of the current year, Pitman Company’s accounting clerk prepared the following unadjusted trial balance:
Pitman Company
UNADJUSTED TRIAL BALANCE
October 31, 2019
| ACCOUNT TITLE | DEBIT | CREDIT | |
|---|---|---|---|
|
1 |
Cash |
7,420.00 |
|
|
2 |
Accounts Receivable |
38,115.00 |
|
|
3 |
Prepaid Insurance |
7,050.00 |
|
|
4 |
Supplies |
1,630.00 |
|
|
5 |
Land |
114,550.00 |
|
|
6 |
Building |
150,250.00 |
|
|
7 |
Accumulated Depreciation-Building |
88,800.00 |
|
|
8 |
Equipment |
133,200.00 |
|
|
9 |
Accumulated Depreciation-Equipment |
96,605.00 |
|
|
10 |
Accounts Payable |
12,560.00 |
|
|
11 |
Unearned Rent |
7,035.00 |
|
|
12 |
Jan Pitman, Capital |
217,215.00 |
|
|
13 |
Jan Pitman, Drawing |
15,055.00 |
|
|
14 |
Fees Earned |
327,900.00 |
|
|
15 |
Salaries and Wages Expense |
194,870.00 |
|
|
16 |
Utilities Expense |
42,345.00 |
|
|
17 |
Advertising Expense |
22,335.00 |
|
|
18 |
Repairs Expense |
17,690.00 |
|
|
19 |
Miscellaneous Expense |
5,605.00 |
|
|
20 |
Totals |
750,115.00 |
750,115.00 |
The data needed to determine year-end adjustments are as follows:
| a. | Unexpired insurance at October 31, $6,130. |
| b. | Supplies on hand at October 31, $615. |
| c. | Depreciation of building for the year, $7,610. |
| d. | Depreciation of equipment for the year, $4,300. |
| e. | Unearned rent at October 31, $1,490. |
| f. | Accrued salaries and wages at October 31, $3,040. |
| g. | Fees earned but unbilled on October 31, $10,865. |
| Required: | |
| 1. | Journalize the adjusting entries using the following additional accounts: Salaries and Wages Payable, Rent Revenue, Insurance Expense, Depreciation Expense—Building, Depreciation Expense—Equipment and Supplies Expense. Refer to the Chart of Accounts for exact wording of account titles. |
| 2. | Determine the balances of the accounts affected by the adjusting entries and prepare an adjusted trial balance. |
In: Accounting
Pitman Company is a small editorial services company owned and operated by Jan Pitman. On October 31, 2019 the end of the current year, Pitman Company’s accounting clerk prepared the following unadjusted trial balance: Pitman Company UNADJUSTED TRIAL BALANCE October 31, 2019 ACCOUNT TITLE DEBIT CREDIT 1 Cash 7,710.00 2 Accounts Receivable 37,935.00 3 Prepaid Insurance 7,070.00 4 Supplies 2,125.00 5 Land 108,400.00 6 Building 145,300.00 7 Accumulated Depreciation-Building 85,610.00 8 Equipment 134,800.00 9 Accumulated Depreciation-Equipment 96,100.00 10 Accounts Payable 12,625.00 11 Unearned Rent 6,340.00 12 Jan Pitman, Capital 219,690.00 13 Jan Pitman, Drawing 15,120.00 14 Fees Earned 323,700.00 15 Salaries and Wages Expense 196,770.00 16 Utilities Expense 42,265.00 17 Advertising Expense 23,135.00 18 Repairs Expense 17,195.00 19 Miscellaneous Expense 6,240.00 20 Totals 744,065.00 744,065.00 The data needed to determine year-end adjustments are as follows: a. Unexpired insurance at October 31, $6,105. b. Supplies on hand at October 31, $485. c. Depreciation of building for the year, $7,140. d. Depreciation of equipment for the year, $4,445. e. Unearned rent at October 31, $1,890. f. Accrued salaries and wages at October 31, $3,330. g. Fees earned but unbilled on October 31, $11,475. Required: 1. Journalize the adjusting entries using the following additional accounts: Salaries and Wages Payable; Rent Revenue; Insurance Expense; Depreciation Expense—Building; Depreciation Expense—Equipment; and Supplies Expense. Refer to the Chart of Accounts for exact wording of account titles. 2. Determine the balances of the accounts affected by the adjusting entries, and prepare an adjusted trial balance.
In: Accounting
Sears Editing Company is a small editorial services company owned and operated by Deloris Sears. On January 31, 20Y1, the end of the current year, Sears Editing Company’s accounting clerk prepared the following unadjusted trial balance:
Sears Editing Company
UNADJUSTED TRIAL BALANCE
January 31, 20Y1
| ACCOUNT TITLE | DEBIT | CREDIT | |
|---|---|---|---|
|
1 |
Cash |
7,420.00 |
|
|
2 |
Accounts Receivable |
38,115.00 |
|
|
3 |
Prepaid Insurance |
7,050.00 |
|
|
4 |
Supplies |
1,630.00 |
|
|
5 |
Land |
114,550.00 |
|
|
6 |
Building |
150,250.00 |
|
|
7 |
Accumulated Depreciation-Building |
88,800.00 |
|
|
8 |
Equipment |
133,200.00 |
|
|
9 |
Accumulated Depreciation-Equipment |
96,605.00 |
|
|
10 |
Accounts Payable |
12,560.00 |
|
|
11 |
Unearned Rent |
7,035.00 |
|
|
12 |
Common Stock |
74,980.00 |
|
|
13 |
Retained Earnings |
142,235.00 |
|
|
14 |
Dividends |
15,055.00 |
|
|
15 |
Fees Earned |
327,900.00 |
|
|
16 |
Salaries and Wages Expense |
194,870.00 |
|
|
17 |
Utilities Expense |
42,345.00 |
|
|
18 |
Advertising Expense |
22,335.00 |
|
|
19 |
Repairs Expense |
17,690.00 |
|
|
20 |
Miscellaneous Expense |
5,605.00 |
|
|
21 |
Totals |
750,115.00 |
750,115.00 |
The data needed to determine year-end adjustments are as follows:
| a. | Unexpired insurance at January 31, $6,130. |
| b. | Supplies on hand at January 31, $615. |
| c. | Depreciation of building for the year, $7,610. |
| d. | Depreciation of equipment for the year, $4,300. |
| e. | Rent unearned at January 31, $1,490. |
| f. | Accrued salaries and wages at January 31, $3,040. |
| g. | Fees earned but unbilled on January 31, $10,865. |
| Required: | |
| 1. | Journalize the adjusting entries using the following additional accounts: Salaries and Wages Payable; Rent Revenue; Insurance Expense; Depreciation Expense—Building; Depreciation Expense—Equipment; and Supplies Expense. Refer to the Chart of Accounts for exact wording of account titles. |
| 2. | Determine the balances of the accounts affected by the adjusting entries, and prepare an adjusted trial balance. |
In: Accounting
Pitman Company is a small editorial services company owned and operated by Jan Pitman. On October 31, 2019 the end of the current year, Pitman Company’s accounting clerk prepared the following unadjusted trial balance:
Pitman Company
UNADJUSTED TRIAL BALANCE
October 31, 2019
| ACCOUNT TITLE | DEBIT | CREDIT | |
|---|---|---|---|
|
1 |
Cash |
7,420.00 |
|
|
2 |
Accounts Receivable |
38,360.00 |
|
|
3 |
Prepaid Insurance |
7,320.00 |
|
|
4 |
Supplies |
2,390.00 |
|
|
5 |
Land |
117,000.00 |
|
|
6 |
Building |
154,900.00 |
|
|
7 |
Accumulated Depreciation-Building |
85,745.00 |
|
|
8 |
Equipment |
130,900.00 |
|
|
9 |
Accumulated Depreciation-Equipment |
97,550.00 |
|
|
10 |
Accounts Payable |
11,735.00 |
|
|
11 |
Unearned Rent |
7,130.00 |
|
|
12 |
Jan Pitman, Capital |
227,645.00 |
|
|
13 |
Jan Pitman, Drawing |
14,705.00 |
|
|
14 |
Fees Earned |
325,550.00 |
|
|
15 |
Salaries and Wages Expense |
193,870.00 |
|
|
16 |
Utilities Expense |
42,220.00 |
|
|
17 |
Advertising Expense |
22,740.00 |
|
|
18 |
Repairs Expense |
17,455.00 |
|
|
19 |
Miscellaneous Expense |
6,075.00 |
|
|
20 |
Totals |
755,355.00 |
755,355.00 |
The data needed to determine year-end adjustments are as follows:
| a. | Unexpired insurance at October 31, $5,850. |
| b. | Supplies on hand at October 31, $310. |
| c. | Depreciation of building for the year, $7,750. |
| d. | Depreciation of equipment for the year, $4,220. |
| e. | Unearned rent at October 31, $1,495. |
| f. | Accrued salaries and wages at October 31, $3,040. |
| g. | Fees earned but unbilled on October 31, $11,185. |
| Required: | |
| 1. | Journalize the adjusting entries using the following additional accounts: Salaries and Wages Payable, Rent Revenue, Insurance Expense, Depreciation Expense—Building, Depreciation Expense—Equipment and Supplies Expense. Refer to the Chart of Accounts for exact wording of account titles. |
| 2. | Determine the balances of the accounts affected by the adjusting entries and prepare an adjusted trial balance. |
In: Accounting