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- The Port Authority also wants to determine if the gender profile of its customers has changed since last year, when 59.4% of its orders placed were placed by males. The genders for a sample of 49,896 orders placed this year are collected and recorded in the file PortAuthority. a. Formulate hypotheses that can be used to test whether the proportion of orders placed by male customers this year differs from the proportion of orders placed by male customers placed last year. b. Use the data in the file PortAuthority to conduct your hypothesis test. What is the p value for your hypothesis test? At = 0.05, what is your conclusion?Required information [The following information applies to the questions displayed below.] Fraud Investigators Incorporated operates a fraud detection service. a. On March 31, 10 customers were billed for detection services totaling $24,000. b. On October 31, a customer balance of $1,450 from a prior year was determined to be uncollectible and was written off. c. On December 15, a customer paid an old balance of $790, which had been written off in a prior year. d. On December 31, $490 of bad debts were estimated and recorded for the year. 2. Complete the following table, indicating the amount and effect (+ for increase,- for decrease, and NE for no effect) of each transaction. Ignore income taxes. Transaction Net Receivables Net Sales a. b. C. d. Income From Operations34 - At the end of the count, it was determined that there was an excess of 1000 TL in the safe. Until the reason is found, which account is 1000 TL difference saved? A) 397 counts will be credited to the delivery surplus accountB) Debt to 102 Banks AccountC) Debt to 197 Census Delivery Surplus AccountD) Credit to 100 Cash AccountsE) Debt to 770 General Administrative Expenses Account
- PWT Inc. sells gift cards valued at $500,000 during December. Based on experience, PWT estimates that 30% of the gift cards will not be redeemed. Which of the following statements is true regarding accounting for this breakage? Select one: a. Estimated breakage revenue is recorded at the time of the sale. b. The liability for the gift cards is not adjusted for breakage. c. Unearned Gift Card Revenue related to the breakage is reported as a long-term liability. d. Estimated breakage revenue is recognized in proportion to gift card redemptions.Performance Bike Co. is a wholesaler of motorcycle supplies. An aging of the company’s accounts receivable on December 31 and a historical analysis of the percentage of uncol-lectible accounts in each age category are as follows: Age interval Balance percent uncollectible __________________________________________________________________________________ Not past due $3,250,000 0.8% 1-30 day past due 1,050,000 2.4 31-60 day past due 780,000 7.0 61-90 day past due 320,000 18.0 91-180 day past due 240,000 34.0 over 180 day past due 150,000 85.0 $5,790,000 Estimate the proper balance of…The following data are from the company's records for the year ended December 31: Accounts receivable--January 1 $ 350,000 Credit sales during the year 1,200,000 Collections from credit customers during the year 850,000 Customer accounts written off as uncollected during the year 10,000 Allowance for doubtful accounts--January 1 35,000 Estimated uncollected accounts based on an aging analysis 50,000 If the aging method is used to estimate bad debts, what amount should be recorded as bad debt expense?
- One of the questions in the Pew Internet & American Life Project asked adults if they used the Internet at least occasionally. The results showed that 454 out of 478 adults aged 18–29 answered Yes; 741 out of 833 adults aged 30–49 answered Yes; and 1,058 out of 1,644 adults aged 50 and over answered Yes. Develop a point estimate of the proportion of adults aged 18–29 who use the Internet. Develop a point estimate of the proportion of adults aged 30–49 who use the Internet. Develop a point estimate of the proportion of adults aged 50 and over who use the Internet. Comment on any apparent relationship between age and Internet use. Suppose your target population of interest is that of all adults (18 years of age and over). Develop an estimate of the proportion of that population who use the Internet.A company has a property insurance policy with an annual premium of $1,310. In recent months, the company has filed four different claims against the policy: a fire, two burglaries, and a vandalism incident. The insurance company has elected to cancel the policy, which has been in effect for 310 days. What is the regular refund due (in $) to the company? (Round your answer to the nearest cent.) $ Submit AnsworlBronkey Alazma Inc. manufactures thought glasses (a creepy device that records the thoughts of people who look your eyeglasses). The products cost $60 to manufacture and sells for $500 each. On January 1, 20X1, Bronkey Alazma Inc.’s trial balance reported a $3,480 credit balance in its “Allowance for Warranties” liability account, representing its liability for estimated repairs on thought glasses sold through December 31, 20X0. Under the terms of its customer sales contract, Bronkey agrees to replace any device that fails within one year of sale. Based on its experience, Bronkey estimates that 4 percent of the devices that it sells during a year will need to be replaced. During 20X1, Bronkey sold 12,000 of the devices and replaced 270 defective devices (each costing $60 per unit). Of the 270 replacement devices, 71 relate to sales made during 20X0 and 199 relate to sales made during 20X1. Ignoring any shipping and handling costs, what is Bronkey’s warranty expense for the year ended…
- Logan Township acquired its water system from a private company onJune 1. No receivables were acquired with the purchase. Therefore, totalaccounts receivable on June 1 had a zero balance.Logan plans to bill customers during the month of sale, and 70% of theresulting billings will be collected during the same month. 90% of theremaining balance should be collectable in the next following month.The remaining uncollectible amounts will relate to citizens who havemoved away. Such amounts are never expected to be collected and willbe written off.Water sales during June are estimated at $3,000,000 and remain thesame in July and August.Estimate the monthly cash collections for August. An example for Juneand July follows:June July August$3,000,000 X .7 =$2,100,000 (Junereceivables collected inJune). This leaves$900,000 yet to becollected.$3,000,000 X .7 =$2,100,000 (Julybillings collected inJuly). In addition, 90%of June’s uncollectedreceivables will becollected: $900,000 X.9 =…Consumer complaints are frequently reported to the Better Business Bureau. Industries with the most complaints to the Better Business Bureau are often banks, cable and satellite television companies, collection agencies, cellular phone providers, and new car dealerships. The results for a sample of 200 complaints are in the file BBB. a. Show the frequency and percent frequency of complaints by industry. b. Which industry had the highest number of complaints? c. Comment on the percentage frequency distribution for complaints.Suppose that for a recent admissions class, an Ivy League college received 2,851 applications for early admission. Of this group, it admitted 1,033 students early, rejected 854 outright, and deferred 964 to the regular admission pool for further consideration. In the past, this school has admitted 18% of the deferred early admission applicants during the regular admission process. Counting the students admitted early and the students admitted during the regular admission process, the total class size was 2,375. Let E, R, and D represent the events that a student who applies for early admission is admitted early, rejected outright, or deferred to the regular admissions pool. Use the data to estimate P(E), P(R), and P(D). Are events E and D mutually exclusive? Find . For the 2,375 students who were admitted, what is the probability that a randomly selected student was accepted during early admission? Suppose a student applies for early admission. What is the probability that the student will be admitted for early admission or be deferred and later admitted during the regular admission process?
