1.       A study showed that in a certain month, the mean time spent per visit to Facebook was 19.5 minutes. Assumes the standard deviation of the population is 8 minutes. Suppose that a simple random sample of 100 visits in that month has a sample mean of 21.52 minutes. A social scientist is interested in knowing whether the mean time of Facebook visits has increased. Perform the hypothesis test and compute the P-value.

Based on the P value, what is the conclusion we test at 0.05 level significance?

2.       A random sample of 64 second graders in a certain school district are given a standardized mathematics skills test. The sample mean score is 51.58. Assume the standard deviation for the population of test scores is 15. The nationwide average score on this test us 50. The school superintendent wants to know whether the second graders in her school district have greater math skills than the nationwide average. Perform the hypothesis test and compute the P value.

Based on your P value, what is the conclusion if we test at 0.05 level of significance?

3.       Suppose that the mean price of a home in Denver, Colorado in 2008 was 225.3 thousand dollars. A random sample of 49 homes sold in 2010 had a mean price of 200.1 thousand dollars. A real estate firm wants to test to see if the mean price of 2010 differs from the mean price in 2008. Assume that the population standard deviation is 140. Perform the hypothesis test and compute the P value.

Based on your P value, what is the conclusion if we test at the 0.05 level of significance?

25)

Which of the following describes “factoring”?

27)

2/15 net 45 (or 2/15, n/45) translates as:

28)

Zoro Inc. purchased a new machine on October 20, 2010 for $1,000,000 on credit. The supplier has offered Zoro terms of 2/10, n/45. Zoro’s bank is currently lending funds at 8 percent. IF Zoro pays this invoice within the DISCOUNT period, what is the exact amount they will pay the supplier?

29)

Zoro Inc. purchased a new machine on October 20, 2010 for $1,000,000 on credit. The supplier has offered Zoro terms of 2/10, n/45. Zoro’s bank is currently lending funds at 8 percent. IF Zoro elects NOT to pay this invoice within the DISCOUNT period, what is the exact amount they should pay the supplier?

Norther Leasing Corp. has the following standards for one unit of product:

The predetermined OH rates were developed using a practical capacity of 6,000 units per year. Production is assumed to occur evenly throughout the year.

During May 2010, the company produced 525 units. Actual data for May 2010 are as follows:

Direct material purchased: 45,000 pounds X $5.92 per pound

Direct material used: 43,020 pounds (all from May’s purchases)

Total labor cost: $24,955 for 1,550 hour

Variable overhead incurred: $43,750 for 800 hours of machine time

Fixed overhead incurred: $22,800 for 800 hours of machine time

Required: Calculate the following:

a) Material cost variance

b) Material price variance based on purchases

c) Material quantity variance

d) Labor cost variance

e) Labor rate variance

f) Labor efficiency variance

g) Variable overhead Cost

h) Variable overhead expenditure variance

i) Variable efficiency variances

j) Fixed overhead cost

k) Fixed overhead expenditure

l) Fixed volume variances

The following situations involve the application of the time value of money concept. Use the full factor when calculating your results.

Use the appropriate present or future value table:

FV of $1, PV of $1, FV of Annuity of $1 and PV of Annuity of $1

1. Janelle Carter deposited $9,750 in the bank on January 1, 2000, at an interest rate of 10% compounded annually. How much has accumulated in the account by January 1, 2017? Round to the nearest whole dollar.
$fill in the blank 1

2. Mike Smith deposited $20,140 in the bank on January 1, 2007. On January 2, 2017, this deposit has accumulated to $32,806. Interest is compounded annually on the account. What rate of interest did Mike earn on the deposit? Round to the nearest whole percent.
fill in the blank 2 %

3. Lee Spony made a deposit in the bank on January 1, 2010. The bank pays interest at the rate of 9% compounded annually. On January 1, 2017, the deposit has accumulated to $16,230. How much money did Lee originally deposit on January1, 2010? Round to the nearest whole dollar.
$fill in the blank 3

4. Nancy Holmes deposited $5,380 in the bank on January 1 a few years ago. The bank pays an interest rate of 8% compounded annually, and the deposit is now worth $11,615. How many years has the deposit been invested? Round to the nearest whole year.
fill in the blank 4 years

3: Access Inc. is in operation from last 8 years, and have a balance of $640,000 in the machinery account as at Jan 01, 2000. the remaning life of this machinery is 7 years and had a salvage value of 63000. On August 01, 2000, the Company made additions to the machinery a/c of $98,000. The machinery is expected to produce a total of 200,000 units. The machinery was used in the production in the following manner:

Year Production

2000 13,400

2001 34,200

2002 38,400

2003 39,100

2004 31,900

2005 28,060

2006 14,940

There was another addition to the machineries for $126,000 on Jan 01, 2002. The useful life of the asset is 9 years and it can realize $13,400 at the end of 9 years. On Jan 01, 2006, the company reassessed the useful life of this machiney to be 11 years, while the salvage value remained the same.

On Oct 01, 2005, the company bought an equipemt, which was expected to be used a total of 46,000 machine hours (MH) The equipment was used as per the below mentioned schedule:

2005 $ 1,730

2006 $ 4,200

2007 $ 3,100

2008 $ 4,600

2009 $ 5,900

2010 $ 7,070

At the end of 2010, the company assessed that its original estimation was wrong and the equipment is expected to work only 12,000 more machine hours. During 2011, the equipment was used for 4,800MH, 2012 5,300MH, and rest of the hours were used in 2013.

Prepared a schedule of the machinery and equipment account together.

Show your working notes properly.

Hint: For presentation purpose, you can give numbering to the machinese,

In python,

Here's some fake data.

df = {'country': ['US', 'US', 'US', 'US', 'UK', 'UK', 'UK'],
   'year': [2008, 2009, 2010, 2011, 2008, 2009, 2010],
   'Happiness': [4.64, 4.42, 3.25, 3.08, 3.66, 4.08, 4.09],
   'Positive': [0.85, 0.7, 0.54, 0.07, 0.1, 0.92, 0.94],
   'Negative': [0.49, 0.09, 0.12, 0.32, 0.43, 0.21, 0.31],
   'LogGDP': [8.66, 8.23, 7.29, 8.3, 8.27, 6.38, 6.09],
   'Support': [0.24, 0.92, 0.54, 0.55, 0.6, 0.38, 0.63],
   'Life': [51.95, 55.54, 52.48, 53.71, 50.18, 49.12, 55.84],
   'Freedom': [0.65, 0.44, 0.06, 0.5, 0.52, 0.79, 0.63, ],
   'Generosity': [0.07, 0.01, 0.06, 0.28, 0.36, 0.33, 0.26],
   'Corruption': [0.97, 0.23, 0.66, 0.12, 0.06, 0.87, 0.53]}

I have a list of happiness and six explanatory vars.
exp_vars = ['Happiness', 'LogGDP', 'Support', 'Life', 'Freedom', 'Generosity', 'Corruption']

1. Define a variable called explanatory_vars that contains the list of the 6 key explanatory variables

2. Define a variable called plot_vars that contains Happiness and each of the explanatory variables. (Hint: recall that you can concatenate Python lists using the addition (+) operator.)

3. Using sns.pairplot, make a pairwise scatterplot for the WHR data frame over the variables of interest, namely the plot_vars. To add additional information, set the hue option to reflect the year of each data point, so that trends over time might become apparent. It will also be useful to include the options dropna=True and palette='Blues'.

1. Please give your interpretation of President Lyndon Johnson's statement at the founding of the National Endowment for the Arts (NEA) in 1965. Based on your reading of the "Introduction," what would you say are the basic functions of art? Basically, what is the impact of art on our lives?

3. On which mystical site does Mexico City stand today?

4. Describe El Castillo, the ancient Maya city.

5. What are pictographs?

6. What is America's largest Native population?

7. Name two contemporary artists who have used iconic signs and symbols excerpted from Amerind art.

8. Name the most widely recognized and foremost portrait artist of the new nation.

9. Describe Edward Savage's The Washington Family, now in the National Gallery of Art in Washington, D.C.

10. Who is Frances K. Pohl? Extra Credit (1 point each)

11. The biggest and most nefarious art heist in American history took place at the Isabella Stewart Gardner Museum in Boston in 1990. Robert K. Wittman, a former F.B.I. agent and author of Priceless: How I Went Undercover to Rescue the World's Stolen Treasures released in 2010 by Crown Publishers, said "Art thieves steal more than beautiful objects, they steal memories and identity, they steal history." If you were searching for stolen art, what sources would be most helpful to you in retrieving art and why? http://www.nytimes.com/2010/06/07/arts/design/07wittman.html?_r=0

Question 1
REQUIRED: Given the following Adjusted Trial Balance, prepare a report form Classified Balance Sheet.

Hint: Prior to creating the Balance Sheet, calculate the profit/loss and the owner’s (revised) capital balance as of the end of the year. You may assume there were no investments.

Erickson Rentals Adjusted Trial Balance March 31, 2010

Debit Credit

**note: the current portion of the long term note payable is $1,900.

Profit/Loss Calculation – Circle your final answer. _____________________________________________________________________________

Assignment 1 – Winter 2019 FA1

_____________________________________________________________________________ _____________________________________________________________________________ _____________________________________________________________________________

Capital/Equity Calculation : – Circle your final answer. _____________________________________________________________________________ _____________________________________________________________________________ _____________________________________________________________________________ _____________________________________________________________________________ _____________________________________________________________________________ Report form Classified Balance Sheet :

Erickson Rentals Balance Sheet March 31, 2010

Assignment 1 – Winter 2019 FA1

To play the PowerBall lottery, you buy a ticket that has five unique numbers in the range of 1–69, and a “PowerBall” number in the range of 1–26. (You can pick the numbers yourself, or you can let the ticket machine randomly pick them for you.) Then, on a specified date, a winning set of numbers is randomly selected by a machine. If your first five numbers match the first five winning numbers in any order, and your PowerBall number matches the winning Pow-erBall number, then you win the jackpot, which is a very large amount of money. If your numbers match only some of the winning numbers, you win a lesser amount, depending on how many of the winning numbers you have matched. In the student sample programs for this book, you will find a file named pbnumbers.txt, containing the winning PowerBall numbers that were selected between February 3, 2010 and May 11, 2016 (the file contains 654 sets of winning numbers). Figure 8-6 shows an example of the first few lines of the file’s contents. Each line in the file contains the set of six numbers that were selected on a given date. The numbers are separated by a space, and the last number in each line is the PowerBall number for that day. For example, the first line in the file shows the numbers for February 3, 2010, which were 17, 22, 36, 37, 52, and the PowerBall number 24. Write a program that works with this file to display the 10 most common numbers, ordered by frequency.

Dave Solomon is 59 years of age and is planning for his retirement. Dave is a barrister at a leading law firm. His gross salary for the 2019–2020 income year totals $345,000. He has decided to sell the majority of his assets as detailed below:

•  A two-storey residence at St Lucia, described in PoTL end of chapter question 11.6 (a)

•  A painting, described in PoTL end of chapter question 11.6 (b)

•  A parcel of shares, described in PoTL end of chapter question 11.6 (d).

•  A unit in a unit complex that he holds as a residential rental property investment. Davepurchased the unit ‘off plan’ on 1 January 2012 for $350,000. The unit was tenanted from that day. On 1 August 2019, Dave replaced the stove in the unit with a new one that cost him $1,800. He uses the diminishing value method for income tax purposes, and the effective life of the stove is 12 years. Dave sold the unit on 29 February 2020 for $450,000, and applies an apportionment of 0.2% on the sale of depreciating assets as set out in the ATO Rental properties Guide for rental property owners. During the 2019–2020 income year, Dave received rent totalling $16,800. By 30 June 2019, Dave had claimed Div 43 capital works deductions totalling $52,500.

  You are required to:

  Calculate Dave’s taxable income for the 2019–2020 income year. Show all your calculations and provide reasons for your answer, referencing relevant sections of the Income Tax Assessment Acts.

  Question 2

  Your client is a wealthy investor and property owner. Your client provides you with information (as detailed below) about various transactions that took place between 1 July 2019 and 30 June 2020.

1. 1) Warehouse: On 30 April 1985 your client acquired a large parcel of vacant land at Rocklea, a suburb in Brisbane with a significant number of commercial buildings. The purchase price was $180,000 and your client incurred $2,000 in legal fees and $18,000 in transfer duty when purchasing the land. In April 2000 your client signed a contract for the construction of a large warehouse on the land. The final construction cost was $1,000,000. The warehouse is used tohouse your client’s extensive motor vehicle collection. Your client signs the contract to sell the warehouse for $2,200,000 on 1 June 2020. Your client receives the proceeds on 1 July 2020. At the time of sale, an independent valuation revealed the land component of the sale price was $1,200,000. Your client paid $80,000 to insure the warehouse building against flood and fire damage.

2. 2) Boat: Your client owned a luxury motor cruiser that was moored at the Manly Yacht Club. Your client used the boat to go fishing over weekends and to cruise the waters of Moreton Bay. Your client purchased the vessel in late 2006 for $140,000 and sells the vessel on 1 June 2020 to a local boat broker for $90,000. During the period of ownership, your client paid a total of $25,000 in weekly mooring fees to the Manly Yacht club and also incurred $20,000 in repairs on the vessel.

3. 3) Dining Table: Your client acquires a large, hand crafted, English oak dining table for $8,000 in April 2001. The table is very old, having been constructed sometime during 1910 and was used by your client and his family in their formal dining room. Your client auctions the table on 2 April 2020 and it sells for a record price of $50,000. Your client pays $2,000 in auction fees. Duringyour client’s period of ownership they paid $3,000 to insure the table against loss or damage.

4. 4) Your client also has a capital loss carried forward from the 2017–2018 income year of $10,000.

You are required to:

Calculate which amount(s), if any, must be returned as assessable income for the 2019–2020 income year. Show all your calculations and provide reasons for your answer, referencing relevant sections of the Income Tax Assessment Acts.