Question: The following transactions took place at Aircraft

> For each of the following populations, would a score of X = 85 be considered a central score (near the middle of the distribution) or an extreme score (far out in the tail of the distribution)? a. μ = 75 and σ = 15 b. μ = 80 and σ = 2 c. μ = 90 and σ = 2

> A researcher is interested in the effects of a “smart drug” on performance on a standardized intelligence test with a mean of μ = 200 and a standard deviation of σ = 50. Suppose that a participant who receives the smart drug subsequently earns a score of

> A sample consists of the following n = 5 scores: 8, 4, 10, 0, 3. a. Compute the mean and standard deviation for the sample. b. Find the z-score for each score in the sample. c. Transform the original sample into a new sample with a mean of M = 100 and s

> Identify the letters in the following distribution that correspond to the following z-scores. a. z = 12.00 b. z = 0.00 c. z = 22.00 d. z = 20.50

> A population consists of the following N = 7 scores: 6, 1, 0, 7, 4, 13, 4. a. Compute μ and σ for the population. b. Find the z-score for each score in the population. c. Transform the original population into a new population of N = 7 scores with a mean

> A sample with a mean of M = 62 and a standard deviation of σ = 5 is transformed into a standardized distribution with μ = 50 and s = 10. Find the new, standardized score for each of the following values from the original population. a. X = 61 b. X = 55 c

> Your professor tells you that all exam scores were transformed to z-scores for the midterm examination. Describe the mean and standard deviation of the resulting distribution of z-scores.

> The Graduate Record Exam is a standardized test taken by many graduating college seniors. GRE scores are often included in applications to masters or doctoral programs. Suppose that a psychology major received a score of X = 160 on the verbal section of

> In a population distribution, a score of X = 56 corresponds to z = -0.40 and a score of X = 70 corresponds to z = +1.00. Find the mean and standard deviation for the population. (Hint: Sketch the distribution and locate the two scores on your sketch.)

> Describe the difference in appearance between a bar graph and a histogram and describe the circumstances in which each type of graph is used to represent sample data. How would the same variables be represented in a population?

> For a sample with a mean of M = 63, a score of X = 54 corresponds to z = 20.75. What is the sample standard deviation?

> For a sample with a standard deviation of s = 4, a score of X = 35 corresponds to z = -1.25. What is the sample mean?

> You are told that the results of an extraversion assessment gave you a z-score of +2.00. What does that mean about your level of extraversion relative to the mean?

> For a population with a mean of μ = 45, a score of X = 54 corresponds to z = +1.50. What is the population standard deviation?

> For a population with a standard deviation of σ = 12, a score of X = 115 corresponds to z = +1.25. What is the population mean?

> For a population with a standard deviation of σ = 4, a score of X = 24 corresponds to z = 21.50. What is the population mean?

> A score that is 10 points above the mean corresponds to a z-score of z = +1.20. What is the sample standard deviation?

> A score that is 20 points below the mean corresponds to a z-score of z = - 0.50. What is the population standard deviation?

> Find the z-score corresponding to X = 24 and the X value corresponding to z = +1.50 for each of the following samples. a. M = 20 and s = 12 b. M = 20 and s = 4 c. M = 30 and s = 8 d. M = 30 and s = 10

> Find the z-score corresponding to X = 105 and the X value corresponding to z = +0.40 for each of the following populations. a. μ = 100 and σ = 12 b. μ = 100 and σ = 4 c. μ = 80 and σ = 14 d. μ = 80 and σ = 6

> In your most recent checkup, your physician listed that your height is 70 inches, rounded to the nearest whole inch. Why is it unlikely that your height is exactly 70 inches? What are the upper and lower real limits of your height?

> For the following set of scores: a. Place the scores in a frequency distribution table. Include columns for proportion and percentage in your table. b. n = ?

> Royal Kitchen Supplies is a wholesale business. The transactions involving sales and cash receipts for the firm during August 20X1 and the general ledger accounts used to record these transactions are listed below. INSTRUCTIONS 1. Open the general ledger

> The cash payments of European Gift Shop, a retail business, for September and the general ledger accounts used to record these transactions appear below. INSTRUCTIONS 1. Open the general ledger accounts and enter the balances as of September 1, 20X1. 2.

> Ez Suppliers is a retail store that sells cards, business supplies, and novelties. The firm’s cash receipts during June 20X1 and the general ledger accounts used to record these transactions appear below. INSTRUCTIONS 1. Open the genera

> Cards ’n More is a retail card, novelty, and business supply store. Its credit purchases and purchases returns and allowances for February 20X1 appear below. The general ledger accounts and the creditors’ accounts in t

> The Green Thumb is a retail store that sells garden equipment, furniture, and supplies. Its credit purchases and purchases returns and allowances for December are shown below. The general ledger accounts used to record these transactions are also provide

> 1. Set up an accounts payable subsidiary ledger for Mountain Ski Shop. Open an account for each of the creditors listed below and enter the balances as of May 1, 20X1. Arrange the accounts payable ledger in alphabetical order. 2. Post the individual entr

> Mountain Ski Shop is a retail store that sells ski equipment and clothing. The firm’s credit purchases and purchases returns and allowances during May 20X1 follow, along with the general ledger accounts used to record these transactions

> The Vintage Nursery is a wholesale shop that sells flowers, plants, and plant supplies. The transactions shown below took place during February. All customers have credit terms of n/30. INSTRUCTIONS 1. Record the transactions in the proper journal. Use 5

> Wine Country Gift Shop sells cards, supplies, and various holiday gift items. All sales are subject to a sales tax of 8 percent. The shop uses a sales journal and general journal. All customers have credit terms of n/30. INSTRUCTIONS 1. Record the credit

> The Furniture Lot is a retail store that specializes in modern living room and dining room furniture. Merchandise sales are subject to an 8 percent sales tax. The firm’s credit sales and sales returns and allowances for June are reflect

> On what financial statement do the accounts related to purchases of merchandise appear? In which section of this statement are they reported?

> Awesome Appliances is a retail store that sells household appliances. Merchandise sales are subject to an 8 percent sales tax. The firm’s credit sales for June are listed below Instruction 4, along with the general ledger accounts used

> A partially completed worksheet for Rissa Potter, CPA, for the month ending June 30, 20X1, is shown below. INSTRUCTIONS 1. Record the balances as of June 30 in the ledger accounts. 2. Prepare the worksheet. 3. Journalize (use 3 as the journal page number

> On December 31, after adjustments, The Pollock Family Farm’s ledger contains the following account balances. 101 Cash $21,374 Dr. 111 Accounts Receivable 5,400 Dr. 121 Supplies 2,750 Dr. 131 Prepaid Rent 17,325 Dr. 141 Equipment 27,000

> A completed worksheet for Elegant Lawn Nursery and Landscape is shown below. INSTRUCTIONS 1. Record the balances as of December 31 in the ledger accounts. 2. Journalize (use 3 as the page number) and post the adjusting entries. Use account number 131 for

> Tobias Cleaning and Maintenance, owned by Triana Tobias, provides cleaning services to hotels, motels, and hospitals. On January 31, 20X1, the firm’s worksheet showed the following adjustment data. The balances of the revenue and expense accounts listed

> Christopher Foster owns Estate Planning and Investments Company. The trial balance of the firm for June 30, 20X1, the first month of operations, is shown below. INSTRUCTIONS 1. Complete the worksheet for the month. 2. Prepare an income statement, stateme

> The completed worksheet for JP’s Accounting Services for the month ended December 31, 20X1, appears on the next page. INSTRUCTIONS 1. Prepare an income statement. 2. Prepare a statement of owner’s equity. The owner made no additional investments during t

> The adjusted trial balance of Sergio Mendez, Attorney-at-Law, as of November 30, 20X1, after the company had completed the first month of operations, appears below. Appropriate adjustments have been made for the following items: a. Supplies used during t

> The trial balance of Lazo Company as of February 28, 20X1, appears below. INSTRUCTIONS 1. Record the trial balance in the Trial Balance section of the worksheet. 2. Complete the worksheet by making the following adjustments: supplies on hand at the end o

> Several transactions that occurred during December 20X1, the first month of operation for Wells’ Accounting Services, follow. The company uses the general ledger accounts listed below. INSTRUCTIONS Record the transactions in the general

> What is the normal balance of the Purchases account?

> All the journal entries shown below contain errors. The entries were prepared by an employee of Helena Corporation who does not have an adequate knowledge of accounting. INSTRUCTIONS Examine the journal entries carefully to locate the errors. Prepare jou

> In June 20X1, Chan Lee opened a photography studio that provides services to public and private schools. His firm’s financial activities for the first month of operations and the chart of accounts appear below. INSTRUCTIONS 1. Journaliz

> The transactions listed below took place at Prasad Building Cleaning Service during September 20X1. This firm cleans commercial buildings for a fee. INSTRUCTIONS Analyze and record each transaction in the general journal. Choose the account names from th

> The accounts and transactions of Brian Carter, Counselor and Attorney at Law, follow. INSTRUCTIONS Analyze the transactions. Record each in the appropriate T accounts. Use plus and minus signs in front of the amounts to show the increases and decreases.

> The following transactions took place at P and W Capital Investments. INSTRUCTIONS Analyze each of the transactions. For each transaction, decide what accounts are affected and set up T accounts. Record the effects of the transaction in the T accounts. T

> What is the difference between a purchase invoice and a sales invoice?

> The following transactions took place at Willis Counseling Services, a business established by Raymond Willis. INSTRUCTIONS For each transaction, set up T accounts from this list: Cash; Office Furniture; Office Equipment; Automobile; Accounts Payable; Ra

> The following transactions occurred at several different businesses and are not related. INSTRUCTIONS Analyze each of the transactions. For each, decide what accounts are affected and set up T accounts. Record the effects of the transaction in the T acco

> The accountant for the firm owned by Vincent Sutton prepares financial statements at the end of each month. INSTRUCTIONS Use the figures in the T accounts for Problem 3.4A to prepare a trial balance, an income statement, a statement of owner’s equity, an

> The following equation shows the transactions of Cotton Cleaning Service during May. The business is owned by Taylor Cotton. INSTRUCTIONS Analyze each transaction carefully. Prepare an income statement and a statement of owner’s equity

> Oil Field Equipment Repair Service is owned by Jack Phillips. INSTRUCTIONS Use the following figures to prepare a balance sheet dated February 28, 20X1. (You will need to compute the owner’s equity.) Cash $137,200 Supplies 25,520 Accounts Receivable 52,8

> Carter Wilson is a painting contractor who specializes in painting commercial buildings. At the beginning of June, his firm’s financial records showed the following assets, liabilities, and owner’s equity. INSTRUCTIONS

> On July 1, Alfred Herron established Herron Commercial Appraisal Services, a firm that provides expert commercial appraisals and represents clients in commercial appraisal hearings. INSTRUCTIONS Analyze the following transactions. Record in equation form

> OZ Innovations, Inc., is currently manufacturing a part that goes into its main product. Each year 5,000 of these parts are used. Cost data for the past year that relates to the 5,000 parts are given below. Fixed costs are allocated on the basis of direc

> Prince Corporation makes a single product that it sells to retail stores. The firm’s finishing department uses hand labor to perform its work on all products. A proposal has been made by the company’s vice president to acquire machinery that will perform

> Texas Controls Inc. began operations in 20X1 to manufacture a single product. There are no ending work-in-process inventories. Relevant data for the year follow: OPERATING DATA FOR 20X1 Quantities: Beginning inventories, finished goods –0– Units produced

> The following data pertains to the operations of Alpha Corporation for the year ended December 31, 20X1, its first year of operations. Alpha Corporation makes computer equipment. Round ending inventory computations to the nearest dollar. DATA FOR 20X1 Sa

> Zack Manufacturing Company makes a product that is processed through two departments: cutting and final. All materials are added in the first department. During the month of March 20X1, the company made 6,000 units of the product. Standard costs and actu

> West Texas Chemical Company manufactures a product called Kylon, which requires three raw materials. Production is in batches of 1,000 gallons of finished product. The firm uses standard costs as a control device. Its standard costs for materials for eac

> The accountant for C. Breit Products, Inc., has analyzed the manufacturing overhead costs for the company’s assembly department. The fixed and variable costs follow: INSTRUCTIONS 1. Prepare a flexible budget for the department for the m

> What journals can be used to enter various merchandise purchase transactions?

> The accountant of Saturn Health Products, LLC, has compiled the following information about the direct labor hours and the indirect labor costs for each month of 20X1: INSTRUCTIONS 1. Compute the monthly fixed costs (rounded to the nearest whole dollar)

> MP Corporation adds all materials at the beginning of production. On August 1, 20X1, 2,500 gallons of its product were in production in the first department. During the month of August, 7,500 gallons were put into production. On August 31, 2,000 gallons

> KAT Games Inc. has two producing departments—fabricating and assembly. The following data is from the firm’s records for the month of April 20X1. There were no beginning inventories. INSTRUCTIONS 1. In general journal

> RedTek, Inc., manufactures a single type of garden cart. The monthly production report for May 20X1 follows: INSTRUCTIONS Prepare the equivalent production computations for each department. Analyze: Which department’s ending work in pro

> Kitchen Inc. builds kitchen cabinets. On January 1, 20X2, one job (D42) was in progress. The order is from Dallas Apartment Corporation and was begun on December 21, 20X1. Costs accumulated to date on that job are materials, $1,040; labor, $1,500; and ov

> In April 20X1, TN Trailers Inc. had the following cost data: COST DATA a. Raw materials costing $100,000 were purchased. b. Raw materials costing $90,000 were used: direct materials, $85,000; indirect materials $5,000. c. Factory wages of $55,000 were in

> RealTime Inc. manufactures parts for computers. The Trial Balance section of its worksheet and other year-end data follow. INSTRUCTIONS 1. Prepare a 12-column manufacturing worksheet for the year ended December 31, 20X1. Enter the trial balance in the fi

> SuSu Manufacturing Company makes water heaters. Selected account balances on December 31, 20X1, the end of its fiscal year, are given below. Data about the beginning and ending inventories are also given. INSTRUCTIONS 1. Prepare a statement of cost of go

> The Lawn Shop sells plants, fertilizers, and other garden products. The store has three departments: plants, chemicals, and tools. Certain information about the revenues and expenses of the departments for the year ended December 31, 20X1, follows. Indir

> Selected information from the adjusted trial balance of 4Feet Co. as of December 31, 20X1, follows: INSTRUCTIONS Prepare a departmental income statement for the year ended December 31, 20X1. The bases for allocating indirect expenses are given below. (No

> How is the net delivered cost of purchases computed?

> The comparative balance sheet for Short Company as of December 31, 2022 and 2021, is shown below, followed by the condensed income statement. INSTRUCTIONS Prepare a statement of cash flows for 2022. Additional information for the year follows: a. Acquire

> The condensed income statement and comparative balance sheet of The Donald Inc. as of December 31, 2022 and 2021, are provided below. Other financial data are also given. INSTRUCTIONS Prepare a statement of cash flows for The Donald Inc. for 2022. Additi

> Postclosing trial balance data and other financial data for KB Company as of December 31, 2022 and 2021, follow. INSTRUCTIONS Prepare a statement of cash flows for 2022. Additional information for the year follows: a. Sold common stock for $50,000 in cas

> A comparative balance sheet for Stokely, Inc., on December 31, 2022 and 2021, follows. Additional information about the firm’s financial activities during 2022 is also given below. INSTRUCTIONS Prepare a statement of cash flows for 2022

> Below you will find the condensed financial statements for Koko Inc. and Suz Inc. for 2022. INSTRUCTIONS 1. Compute the following ratios for each company (please round to 2 decimal places for these calculations): a. Rate of return on net sales b. Rate of

> Using the financial statements for Meeting Pointe, Inc. from Problem 23.1A, calculate the following financial ratios for 2021 and 2022. Round percentages to nearest 0.1 percent; round to whole numbers those ratios expressed as a number times 1 (as curren

> The firm’s comparative income statement and balance sheet for the years 2022 and 2021 follow: INSTRUCTIONS 1. Prepare both a horizontal and a vertical analysis of the statements. Carry all calculations to two decimal places, and then ro

> On May 1, 2022, Star Inc. issued $600,000 face value, 10 percent bonds at 98.6. The bonds are dated May 1, 2022, and mature 10 years later. The discount is amortized on each interest payment date. The interest is payable semiannually on May 1 and Novembe

> TNCal Company has outstanding $500,000 of its 6 percent bonds payable, dated January 1, 2022, and maturing on January 1, 2042, 20 years later. The corporation is required under the bond contract to transfer $25,000 to a sinking fund each year. The direct

> The board of directors of Watch Shop, Inc., authorized the issuance of $1,000,000 face value, 10 year, 5 percent bonds dated April 1, 2022, and maturing on April 1, 2032. Interest is payable semiannually on April 1 and October 1. INSTRUCTIONS 1. Record t

> Why are the invoice date and terms recorded in the purchases journal?

> The board of directors of Calmont, LLC, authorized the issuance of $600,000 face value, 20-year, 6 percent bonds, dated March 1, 2022, and maturing on March 1, 2042. Interest is payable semiannually on September 1 and March 1. INSTRUCTIONS 1. Record the

> The board of directors of ALL Services Inc. authorized the issuance of $500,000 face value, 20 year, 5 percent bonds dated April 1, 2022, and maturing on April 1, 2042. Interest is payable semiannually on April 1 and October 1. ALL uses the calendar year

> The Stockholders’ Equity section of the balance sheet of Serious Corporation on January 1, 20X1, is shown below; selected transactions for the year follow: INSTRUCTIONS 1. Open the stockholders’ equity accounts in the

> The stockholders’ equity accounts of Genisus Corporation on January 1, 20X1, contained the following balances: Preferred Stock (10%, $100 par value, 10,000 shares authorized) Issued and Outstanding, 2,000 Shares $200,000 Paid-in Capital

> Bruin Corporation has been authorized to issue 5,000 shares of 12 percent noncumulative, nonparticipating preferred stock with a par value of $100 per share and 200,000 shares of common stock with a par value of $10 per share. As of December 31, 20X1, 2,

> Selected transactions of Oceanic Corporation during 20X1 follow. Record them in the general journal. Analyze: What annual per share dividend was paid to common stockholders in 20X1?

> Stove Inc. was organized on March 1, 20X1, to operate a delivery service. The firm is authorized to issue 75,000 shares of no-par-value common stock with a stated value of $100 per share and 30,000 shares of $100 par-value, 8 percent preferred stock that

> Cold Corp., a new corporation, took over the assets and liabilities of Trey Cold on January 2, 20X1. The assets and liabilities, after appropriate revaluation by Cold, are as follows (amounts in parentheses are credits; other amounts are debits): Cash $

> Jone Nelson and Helen Giddings are equal partners in N&G Appliance Center, which sells appliances and operates an appliance repair service. Nelson and Giddings have decided to incorporate the business. The new corporation will be known as N&G App

> A portion of the Stockholders’ Equity section of CMH Corporation’s balance sheet as of December 31, 20X3, appears below. Dividends have not been paid for the years 20X1 and 20X2. There has been no change in the number of shares of stock issued and outsta

> What two methods are commonly used to record sales involving credit cards issued by credit card companies?

> Red Hot Company issued and has outstanding 100,000 shares of $10 par-value common stock and 5,000 shares of $50 par-value 6 percent preferred stock. The board of directors votes to distribute $10,000 as dividends in 20X1, $20,000 in 20X2, and $100,000 in

> Dexter Thomas and Herman Walker, attorneys, operate a law practice. They would like to expand the expertise of their firm. In anticipation of this, they have agreed to admit Jewell Lorenzo to the partnership on January 1, 20X1. The capital account balanc