City of Angels: Government Accounting
Analyze financial data of a government entity - the City of Angels - in order to create financial statements. Download the City of Angels financial data and when you have completed your review, provide the following and submit your work in a single Word document:
Journal entries for approved budget for City of Angels for 2010
Revenues ledger for City of Angels for 2010
Appropriations, expenditures, and encumbrances ledger for City of Angels for 2010
Statement of Revenues, Expenditures, and Changes in Fund Balance for the year ended June 30, 2010
After reviewing the data, evaluate the likelihood of the city council defaulting on the <,500 they borrowed on a 90-day note. In your evaluation (150-300 words), be sure to consider the limitations of the data you have available and what information you might need in order to strengthen your conclusions.
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Solution Summary
This posting provides a solution to an analysis of financial data.
Basic Statistics Problems and Solutions
1. The following table gives the Value (in millions of dollars) of the 10 most Valued baseball teams as estimated by Forbes in 2007 (see attached file for table).
A) Find the Mean,
B) Find the Median,
C) What might account for the difference between these Values?
2. The Quaker company conducted a survey to determine whether a proposed premium, to be included with purchase of the firms' cereal was appealing enough to generate new sales. Four cities were used as test markets where the cereal was distributed with the premium. And four cities were used as control markets, where the cereal was distributed without the premium. The eight cities were chosen on the basis of their similarity in terms of population, per capita income, and total cereal purchase volume. The results were as follows. On the basis of the results of this exercise, the company decided to mass produce the premium and distribute it nationally
(See the attached file for data)
a. Find the Mean of the change in the Market share for the four test cities
b. Find the Mean of the change in the market share for the four Control cities
c. Find the standard deviation of the change in the Market share for the Test cities
d. Find the standard deviation of the change in the Market share for the Control cities
e. Find the difference between the mean of part (a) and the mean of part (b). This represents the estimate of the percent change in sales due to premium
f. The two standard deviation from c and d were used to calculate an error of +_ 7.95 for the estimate in part e. With this amount of error what is the smallest and Largest estimate of the increase in sales? (Hint: Use the answer to part e)