Private colleges and universities rely on money contributed by individuals and corporations for their operating expenses. Mur of this money is put into a fund called an endowment, and the college spends only the interest earned by the fund. A recent survey of 8 private colleges yielded = 180.975 and S-143.042. Construct a 95% confidence interval for the mean endowment of all the private colleges in the United States, assuming a normal distribution for the endowments. O $180.975 $99.123 O $180.975 + $94.066 O $180.975+ $119.586 O $180.975 $116.621
Q: Sales Expenses: Cost of Goods Sold Depreciation Expense Salaries and Wages Expense Net Income…
A: In this question, we need to prepare operating activities section of statement of cash flows for…
Q: Required information [The following information applies to the questions displayed below.] Cash…
A: The common size percentage is calculated as amount for the account divided by base amount. The base…
Q: Required Information A land development company is considering the purchase of earth-moving…
A: 1. In the given question to find out the daily rental cost to justify the renting over purchase.We…
Q: Which one of the following is true about a firm commitment? Select one: a. A firm commitment is a…
A: An underwriter's commitment to take on all risk is typically referred to as a firm commitment.The…
Q: A. Prepare a depreciation schedule for the asset’s entire useful life using each of the following…
A: 1. Straight line method of depreciation Straight-line depreciation is calculated by dividing a fixed…
Q: Barbay Ltd has two divisions. It acquired one of them, Tibay Products, on January 1, 2022 for…
A: An impairment loss is a decrease in the value of the asset due to technological advancement, legal…
Q: Cash Flows from Operating Activities Net Income Adjustments to reconcile net income to Net Cash…
A: Cash flows statement is one of the financial statement being prepared in business for reviewing cash…
Q: Question 1 Assets Name It is the first day of the month. Record the impact of the following…
A: The basic accounting equation is: Assets=Liabilities+Equity
Q: The custodian of a $450 petty cash fund discovers that the fund has $55.90 in coins and currency…
A: Petty Cash :A petty cash fund is a small quantity of corporate cash that is frequently kept on hand…
Q: Cortez Company sells chairs that are used at computer stations. Its beginning inventory of chairs…
A: FIFO is the method wherein the inventory bought at first is to be sold first. LIFO is the one…
Q: If there were 50000 pounds of direct materials on hand on January 1, 140000 pounds are desired for…
A: Given, Materials required for production = 490,000 pounds Beginning inventory = 50,000 pounds…
Q: The statement of income for Carla Vista Ltd., a private company reporting under ASPE, is presented…
A: CASH FLOW FROM OPERATING ACTIVITIES Operating activities are the principal revenue- producing…
Q: 5. Wellco received $25,000 in accounts receivable for merchandise sales. (a) 9.0
A: Journal entry is a primary entry that records the financial transactions initially. The transactions…
Q: Refer to the following selected financial information from Helpful Hardware. Compute the company's…
A: Days sales in inventory is the measure of number of days it take the company to sell its inventory.…
Q: You are considering starting a new factory producing small electric heaters. Each unit will sell at…
A: Operating break even point is where fixed cost and variable cost is covered only and time value of…
Q: V4. When Betty was diagnosed as having a terminal illness, she sold her life insurance policy to…
A: A life insurance policy is a contract between the insurance company and the policyholder for a…
Q: LAPORTE INC. Statement of Cash Flows (Partial) For the Year Ended December 31, 2020 Cash flows from…
A: Free Cash Flow (FCF) is the cash remaining for paying fixed or short-term obligations i.e. payment…
Q: 1. Assuming that 80,000 drums are needed each year, what is the financial advantage (disadvantage)…
A: 1)Alternative 1 Direct Materials (12 x 80,000) 960,000 Direct Labor (6.5 x 70%…
Q: Pain Limited (“Pain”) manufactures dental chairs for sale and for lease. On October 1, 2019 they…
A: Introduction: A journal is a book where all of a business's transactions are written down for the…
Q: 52,000 is invested in a 5-year fixed interest bond paying 5.5% per year. If interest is reinvested…
A: The question is based on the concept of Financial Management Future value is calculated by…
Q: What, if any, would be the advantage of using a non-articulated approach to financial
A: Answer:- Articulation:- In order to make the net incomes equal to variation in equity of owner for…
Q: 1. For each rule, determine the character of the distribution. (C E&P is current earnings and…
A: A distribution by the company is the amount distributed from the earnings or profits after all the…
Q: Wishing Well Works makes outdoor statuary, and operates in the state of Washington. Payroll taxes c…
A: There is need to pay the federal income tax on the income earned by the employees and the tax…
Q: Troy (single) purchased a home in Hopkinton, Massachusetts, on January 1, 2007, for $310,000. He…
A:
Q: You have just received an inheritance from a relative. You can either receive a $300,000 lump- sum…
A: This question relates to the time value of money concepts. For solving this question, we have to…
Q: Brian is trying to analyze his income and expenses for the past week. He comes across an invoice…
A: Indirect expenses are those expenses which are not directly related with production or cannot be…
Q: Yates Company borrowed $20,000 from Eastern Bank on November 1, 20X3 at an interest rate of 6…
A: Correct entry 31- Dec -23 Interest expense a/c Dr. 200…
Q: Environmental Cost Report At the end of 20x5, Bing Pharmaceuticals began to implement an…
A: Cost reporting is a process used to outline the breadth of the projected or actual cost of a…
Q: A corporation filed its Annual Income Tax Return for the taxable year 2018 on April 15, 2019…
A: a) When a tax taxpayer has made substantial under declaration of taxable sales, receipts or income…
Q: The 2019 financial statements for Growth Industries are presented below. INCOME STATEMENT, 2019…
A: External sources of financing are funds that come from outside a company. Among the external…
Q: PROBLEM 1. The following condensed balance sheet is presented for the partnership of Smith and…
A: Liquidation means where the business is shut down , assets are sold out and liabilities are paid…
Q: Pick Yes as your solution: You decide that the best way to increase your sales 10 percent is to…
A: Whenever a decision about the impact of some changes on the total sales of the business is to be…
Q: The following data are taken from the financial statements of Coronado Company. Accounts receivable…
A: Ratio analysis helps to analyze the financial statements of the company. The management can take…
Q: Earnings per share (EPS) for Valcor Inc. are $3 at a sales level of $4 million. If Valcor’s degree…
A: In order to determine the Earnings per share (EPS), the company's net profit are required to be…
Q: On January 2, 2021, Morales Paint Company purchased a truck that cost $60,000 with a residual value…
A: Depreciation Expense - Depreciation Expense is charged on the Fixed assets of the company. It is…
Q: Answer the following questions in depth .... Isn't estimating bad debts a way of manipulating net…
A: A company's bad debt value has been frequently calculated based on prior results. This amount is…
Q: Lawyer is a cash basis taxpayer. The client calls Lawyer at 4.00 PM, December 31, 2022, saying she…
A: Tax is a compulsory payment from the citizens to the government, that is, the fee charged by the…
Q: The master budget at Cherrylawn Corporation at the beginning of the year was based on sales of…
A: Contribution Margin :— It is the difference between sales revenue and variable cost. Net…
Q: Journalize the transactions. (List all debit entries before credit entries. Credit account titles…
A: General journal is a chronological accounting record of a company's financial transactions. It is…
Q: Cash $ 125 $ 80 Accounts receivable 68 48 Merchandise inventory 49 56…
A: Cash flow from financing activities includes all the cash receipts and cash payments which are made…
Q: a for the product alpha are shown: produced from the process 600 units Allocated share of joint…
A: Answer :Price per unit after further processing : Price per unit after further processing =(Cost of…
Q: years ago for $100,000 and each piece of equipment had $52,000 of depreciation deducted for tax…
A: The organization sold three machinery with various different amounts while purchased and deppricated…
Q: Budgeting can be an important management tool if implemented properly. Identify several positive…
A: A plan that is written down and followed to determine how one will spend money on a monthly basis is…
Q: V5Dennis buys land by paying $50,000 in cash and assuming a loan for $45,000. He incurs legal fees…
A: Before figuring gain or loss on a sale, exchange,or other disposition of property, or figuring…
Q: The master budget at Monroe Manufacturing last period called for sales of 42,000 units at $42 each.…
A: Variance arises when the actual cost is different from the budgeted cost. The variance is favorable…
Q: Majestic Company manufactures TVs. Some of the company’s data was misplaced. Use the following…
A: Introduction:- Standard costs are estimates of the actual costs in a company’s production process…
Q: A company purchased a machine for $205,000 on October 1, 2024. The estimated service life is 10…
A: Depreciation expense is the non-cash expense which is charged on the non-current assets of the…
Q: Payday loans (also called cash advance loans) are short-term, high-interest loans marketed as a way…
A: Payday loans are short term loans. They carry a high interest rate.
Q: PROBLEM 3: 1. Big Publisher Co. has a publishing contract with Mr. Juan Lapis. An intangible asset…
A: Comment - We’ll answer the first question since the exact one wasn’t specified. Please submit a new…
Q: Which of the following statements is correct? Husband and wife in different far places may…
A: Income Tax - Income taxes are levied against both businesses and individuals (or family units).…
4
Step by step
Solved in 2 steps with 2 images
- 7. A not-for-profit university receives a contribution without donor restrictions of $200,000. In its statement of cash flows, the contribution should be shown as a cash inflow from a. noncapital financing activities. b. capital financing activities. c. operating activities. d. investing activities.Recording journal entries for nonprofits 6. Donor D advises a university that he has established an irrevocable charitable remainder trust, administered by his attorney, whereby his wife will receive income from the trust as long as she lives. At her death, the remaining trust assets will be distributed to the university as a permanent endowment. The university’s actuary estimates the fair value of the university’s beneficial interest to be $400,000 (answer question 6 - what should be the correct entry?)A single contribution may affect all three types of funds. The following events and transactions relate to a single contribution. 1. A high-tech firm pledged to contribute $1 million in the company's common stock to a university's business school if the school would establish a new program in the management of information technology. The securities were to be placed in an endowment fund and the annual dividend earnings were to be used to purchase computer hardware and software. 2. The business school established the program and thereby satisfied the conditions to receive the contribution. 3. The business school received the stock and placed it in an endowment fund. 4. In the first year after receiving the stock, the business school earned $30,000 in cash dividends. They were credited to an appropriate fund. 5. The business school purchased $20,000 of computer equipment. 6. The computer equipment was estimated to have a useful life of four years (no salvage). The school charged one…
- Record the following events that affect (1) Public University and (2) Private University: a. A private grant of $200,000 was received to be used exclusively for defraying costs of holding conferences on the topic of genes. b. By year-end, $110,000 of the grant mentioned in item (a) had been applied to the purpose stipulated. c. The grant provided that amounts not awarded by year-end are to be transferred to the endowment fund. The liability to that fund is recorded. d. An alumnus, who was a former athlete, contributed $15,000 to assist in the search for a basketball coach.Question text The following inter-fund transactions occurred in ULUS City between General Fund and Enterprise Fund.Journalize these transactions in both funds. 1. Enterprise fund liquidated one of their projects and sent the remaining cash $1,000 to the general fund. 2. General fund paid $7,000 as auditing fees, 2,000 of them for Enterprise fund. It now bills the Enterprise fund for that fund’s share of service. 3. General fund lent $11,000 as long term loan to the Enterprise fund. 4. General fund paid $5,000 cash for five copy machines. It discovers that $1,000 of that amount is for Enterprise fund. General fund required reimbursement.Topic: Government Grant Question: How much should be grant income for the first year of grant foreach of the following cases? a. A 10-year, non-interest bearing, P20,000,000 term loan was received from the Philippine government. Without the loan from the government, the entity would need to pay 8% interest per year. b. P3,000,000 government grant was received to support the continued existence of the entity. The entity was heavily affected by the ashfall from a nearby volcano. The entity has a total legal life of 50 years and is on its 40th year.
- Question 1 The following are the balances extracted from the Public Accounts on the Consolidated Fund of the Government of Ghana for the year ended 31 December, 2020 GHS’ Million Direct Tax 100,000 Indirect Tax 150,000 Grants from Bilateral Partners 25,000 Grants from Multilateral Partners 320,000 Other Grants Received 10,000 Royalties 8,000 Fees and Fines 2,000 Interest Income 400 Seminar and Training 22,000 Local Consultancy 34,000 Foreign Consultancy 23,000 Travel and Transport 6,000 Travel Allowances 56,000 Established Post Salaries 220,000 Non –Established Post 80,000 End of Service Benefits 120,000 Car Maintenance Allowances 40,000 Other Staff Costs 12,000 Cleaning Costs 3,000…Problem 6-09 As chief investment officer of a small endowment fund, you are considering expanding the fund's strategic asset allocation from just common stock (CS) and fixed-income (FI) to include private real estate partnerships (PR) as well: Current Allocation: 70 percent of Asset CS, 30 percent of Asset FI Proposed Allocation: 60 percent of Asset CS, 20 percent of Asset FI, 20 percent of Asset PR You also consider the following historical data for the three risky asset classes (CS, FI, and PR) and the risk-free rate (RFR) over a recent investment period: ry: Asset Class E(R) CS FI PR CS 8.3% 14.0% 1.0 FI 5.5 7.7 0.3 1.0 PR RFR 7.5 2.7 12.2 0.5 0.1 1.0 You have already determined that the expected return and standard deviation for the Current Allocation are: E(Rcurrent) = 7.46 percent and current = 10.722 percent. a. Calculate the expected return for the Proposed Allocation. Round your answer to two decimal places. % b. Calculate the standard deviation for the Proposed Allocation. Do…on are some wong. 19. List and explain the two classes of net assets for private, not-for-profit colleges and universities
- Help & Save is a private not-for-profit entity that operates in Kansas. Swim For Safety is a private not-for- profit entity that operates in Missouri. The leaders of these two organizations have decided to combine forces on January 1, 2020, in order to have a bigger impact from their work. They are currently discussing ways by which this combination can be created. The following are statements of financial position for both charities at that date. HELP & SAVE Statement of Financial Position January 1, 2020 Assets Cash $1,800,000 110,000 400,000 800,000 $3,110,000 Contributions receivable (net) Investments Buildings & equipment (net) Total assets Liabilities Accounts payable and accrued liabilities Notes payable Total liabilities $210,000 1,200,000 $1,410,000 Net Assets $1,300,000 400,000 $1,700,000 $3,110,000 Net assets without donor restrictions Net assets with donor restrictions Total net assets Total liabilities and net assets SWIM FOR SAFETY Statement of Financial Position January…Below is the complete set of Financial Statements of Take-Home University (THU), a PublicUniversity of Ghana, issued on 1st May 2020.Statement of Financial Performance for the Year Ended 31 December, 2018Revenue NotesGOG grant 1,540,000,000Internally Generated Funds 2 14,427,492,000Donations and other income 9,278,258,00025,245,750,000ExpenditureCompensation for employees 3 8,385,270,000Goods and services 4 2,238,083,000Social benefit 1,720,000Interest 1,720,000Capital expenditure (CAPEX) 5 25,542,515,000Other expenses 6 79,100,00036,248,408,000Net Operating Result – Deficit (11,002,658,000)Statement of Financial Position as at 31 December 2018NotesCurrent AssetsCash and cash equivalent 294,233,000Receivable (468,050 -10,000) 458,050,000Inventory 155,254,000907,537,000Liabilities and FundPayable 7 696,325,00020% Loan 8,600,000704,925,000Accumulated fund 8 202,612,000907,537,0004Cash Flow Statement for the Year ended 31st December 2018Cash InflowsGOG grant 1,540,000,000Internally…Below is the complete set of Financial Statements of Take-Home University (THU), a PublicUniversity of Ghana, issued on 1st May 2020.Statement of Financial Performance for the Year Ended 31 December, 2018Revenue NotesGOG grant 1,540,000,000Internally Generated Funds 2 14,427,492,000Donations and other income 9,278,258,00025,245,750,000ExpenditureCompensation for employees 3 8,385,270,000Goods and services 4 2,238,083,000Social benefit 1,720,000Interest 1,720,000Capital expenditure (CAPEX) 5 25,542,515,000Other expenses 6 79,100,00036,248,408,000Net Operating Result – Deficit (11,002,658,000)Statement of Financial Position as at 31 December 2018NotesCurrent AssetsCash and cash equivalent 294,233,000Receivable (468,050 -10,000) 458,050,000Inventory 155,254,000907,537,000Liabilities and FundPayable 7 696,325,00020% Loan 8,600,000704,925,000Accumulated fund 8 202,612,000907,537,0004Cash Flow Statement for the Year ended 31st December 2018Cash InflowsGOG grant 1,540,000,000Internally…