Sue and Linda are equal partners in a partnership. Both partners had a basis of $160,000 on the date Sue decides to sell 1/2 of her share. On that date, Sue sells 1/2 of her interest to Alice for $60,000 cash. Partnership assets on the sale date were: Basis FMV Inc(dec
Briefly describe three strategies for testing internal controls when information technology is used for significant accounting processing. Identify two strategies that might be used to support a low control risk assessment. Discuss the difference between the two strategies. Discuss a third audit strategy that might be use
1.Describe the rationale for utilizing probability concepts. Is there more than one type of probability? If so, describe the different types of probability. 2.Briefly discuss probability distributions. What is a normal distribution? Please provide a written example of how 'understanding distribution' can be an asset for
Rentro Rentals has issued bonds that have a 10% coupon rate, payable semiannually. The bonds mature in 8 years, have a face value of $1,000, and a yield to maturity of 8.5%. What is the price of the bonds?
Water Corporation reports $500,000 of taxable income for the current year. The following additional information is available: ? For the current year, Water reports an $80,000 long-term capital loss and no capital gains. ? Taxable income includes $80,000 of dividends from a 10%-owned domestic corporation. ? Water paid fines
Problem 1: The HNR Company's common stock information includes: Current market price per share: $154 Current book value per share: $117 Current par value per share: $40 Shares issued and outstanding: 9,620,000 Instructions: A. Prepare the journal entries necessary to record a 90% stock dividend. B. Without reg
The personnel manager at a company wants to investigate job satisfaction among the female employees. One evening after a meeting she talks to all 30 female employees who attended the meeting. Does this sampling plan result in a random sample? Simple random sample? Explain.
A polling company obtains an alphabetical list of names of voters in a precinct. They select every 20th person from the list until a sample of 100 is obtained. They then call these 100 people. Does this sampling plan result in a random sample? Simple random sample? Explain.
An education expert is researching teaching methods and wishes to interview teachers from a particular school district. She randomly selects ten schools from the district and interviews all of the teachers at the selected schools. Does this sampling plan result in a random sample? Simple random sample? Explain.
When investigating times required for drive-through service, the following results (in seconds) were obtained. Find the range, variance, and standard deviation for each of the two samples, then compare the two sets of results. Restaurant A: 120 123 153 128 124 118 154 110 Restaurant B: 115 126 147 156 118 110
To get the best deal on a CD player, Tom called eight appliance stores and asked the cost of a specific model. The prices he was quoted are listed below: $ 298 $ 125 $ 511 $ 157 $ 231 $ 230 $ 304 $ 372 Find the Standard deviation
Please provide an answer with an explanation of how you obtained the answer so I can understand. Thanks! Question 1 What scale of measurement would you use when collecting data to represent the average monthly temperature for the city of Fort Wayne? Answer Nominal Ordinal Interval Ratio Question 5 An emplo
The distances (in miles) driven in the past week by each of a company's sales representatives are listed below. 45 70 242 268 452 490 640 Find the median distance driven. (Must show work)
The amount of time (in hours) that Sam studied for an exam on each of the last five days is given below. Find the mean study time. 3.7 8.2 8.7 6.4 4.6 (Must show work)
A store manager kept track of the number of newspapers sold each week over a seven-week period. The results are shown below. Find the median number of newspapers sold. 36 30 201 180 278 242 310 (Must show work)
In a certain class of students, there are 15 boys from Wilmette, 5 girls from Kenilworth, 9 girls from Wilmette, 6 boys from Glencoe, 2 boys from Kenilworth and 8 girls from Glencoe. If the teacher calls upon a student to answer a question, what is the probability that the student will be from Kenilworth? (Must show work).
The data set represents the income levels of the members of a country club. Find the probability that a randomly selected member earns at least $88,000 108,000 128,000 82,000 138,000 85,000 108,000 88,000 76,000 158,000 208,000 79,000 98,000 148,000 85,000 128,000 118,000 88,000 168,000 73,000 118,000
In a poll, respondents were asked whether they had ever been in a car accident. 157 respondents indicated that they had been in a car accident and 117 respondents said that they had not been in a car accident. If one of these respondents is randomly selected, what is the probability of getting someone who has been in a car accid
1. Suppose that we will randomly select a sample of four measurements from a larger population of measurements. The sampling distribution of the sample mean is the probability distribution of a population. In your own words, describe the units in this population. 2. Why do we need to take a preliminary sample when determining
You are a new auditor for B&O LLP, a large public accounting firm with many publicly traded audit clients. You have just been assigned to perform controls testing for the integrated audit on one of B&O's largest clients. One of the steps specified in your audit program is to test the review process over cash disbursements pe
17.(5) One part of a PERT project, installing equipment, will most likely be completed in 10 days. However, if there are no worker absences, the equipment can be installed in 8 days. If the work force happens to catch Bubonic Flu, this years' disease, the installation will take 18 days. What is the expected time (te) for the
Your evaluation of a statistical sample indicates that there may be a material misstatement in the population. Upon analyzing the detected misstatements, a common cause was discovered: Most of the misstatements were caused by the failure to record sales returns on a timely basis. That is, sales were returned prior to December 31
Expansion of a football stadium to add 21000 seats including dozens of luxury boxes 270 days to complete with $10,000/day penalty for running late. Questions Develop a network drawing for Hill Construction and determine critical path. How long is the project expected to take What is the probability of finishing in 270 da
The president of a company realized the company can increase my sales by 15% and in the upcoming year make over $35, 000,000.00 in sales overall. Previous sales slipped 4% the previous year and had to pay a fine of $4.4 million to the Federal Government. Given this information how much did the company make in the previous year?
A company is studying the inventory stocking policy for a product (#A123). The company uses a fixed-order quantity system to manage inventory. Demand per day is normally distributed with a demand per day of 210 and a standard deviation of 5 per day. Based on historical lead time of 4 days the current reorder point is set at 85
Professional Development Choose an article on Private Business Competition from a professional, economic, or management journal published in the last ten years such as The Freeman: Ideas On Liberty, The Economist, Forbes, The Cato Journal, Harvard Business Review, or Sloan Management Review. Provide an article review that:
The following partial balance sheet ($ in thousands) for Paisano Seafood Inc. is shown below: Current Assets Cash - $60 Accounts receivable (net) - 170 Notes receivable - 50 Inventories - 200 Prepaid expenses - 25 Total current a
Use the graphical sensitivity analysis to determine the range of values of the probability of state of nature s1 over which each of the decision alternatives has its largest expected value. Explain decisions you would make and in which range. State of Nature Decision s1 s2 d1 8 10 d2 4 16 d3 10 0 16 12 8 4 16
Twin Oaks Health Center has a bond issue outstanding with a coupon rate of 7% and four years remaining until maturity. The par value of the bond is $1,000, and the bond pays interest annually. a) Determine the current value of the bond if present market conditions justify a 14% required rate of return. b) Supposing Twin
1. One challenge you face on a daily basis in business is calculating decision-making information when you know only part of the information. You must know how much you need to determine how changes in sales will affect the bottom line. If you know your fixed costs (FC), your variable costs per unit (VCu), your price per unit (P