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Broadbent Insurance purchased $100,000 of 5.5% DGM bonds on January 1, 2016, at a price of 90 when the market rate of interest was 8%. Broadbent intends to hold the bonds until their maturity date of January 1, 2021. The bonds pay interest semiannually on each January 1 and July 1. Record the initial purchase of the bonds by Broadbent on January 1, 2016, and the receipt of the interest on the first interest payment date of July 1, 2016.
A ski company in Vail owns two ski shops, one on the east side and one on the west side. Sales data showed that at the eastern location there were pairs of large gloves sold out of total pairs sold. At the western location there were pairs of large gloves sold out of total pairs sold.
(a) Calculate the sample proportion of large gloves for each location.
(b) At , is there a significant difference in the proportion of large gloves sold?
(c) Can you suggest any reasons why a difference might exist? (Note: Problem is based on actual sales data).
Sanlucas, Inc., provides home inspection services to its clients. The company’s trial balance dated June 1, 2011, is shown below:
Sanlucas engaged in the following transactions in June:
June 4 Borrowed cash from Community Bank by issuing a note payable.
June 9 Collected a account receivable from Nina Lesher.
Chapter 3 The Accounting Cycle: Capturing Economic Events
June 10 Purchased of inspection supplies on account.
June 17 Billed home owners for inspection services. The entire amount is due on July 17.
June 25 Paid WLIR Radio for ads to be aired on June 27.
June 28 Recorded and paid for testing expenses incurred in June.
June 30 Recorded and paid June salaries of .
Instructions\ c. Prepare a trial balance dated June 30, 2011. (Hint: Retained Earnings will be reported at the same amount as on June 1. Accounting for changes in the Retained Earnings account resulting from revenue, expense, and dividend activities).