Shape measurements
The following table contains the number of car thefts in a large city in the past week.
980.9 1,036.5 1,099.5 1,153.9 1,409.0 1,456.4 1,718.4 1,721.2
Calculate the coefficient of bias and the coefficient of kurtosis. Based on the summary of the five numbers and your box-and-whisker plot, what can you conclude about the shape of the distribution?
Based on the results obtained, what can you conclude about the shape of the distribution of car thefts in the sample under study?
Consider the following when submitting your test:
Present your answers with the aspects learned so far about measures of form.
Answer this question: In what situation or context can you apply what you have learned in statistics class in your personal or professional life?
ACC 310 Spring 2006 Practice Case
ACC 310 Whited 2021 Accounting Practice Set
This case is designed to reinforce certain technical accounting skills that are a prerequisite to a solid understanding of the generally accepted accounting principles that underlie preparation of general purpose financial statements.
You are tasked with the preparation of a set of 2021 financial statements for Brian Burns Technology Corp., a company that purchases merchandise inventory for resale.
You will be required to prepare journal entries, post those entries the general ledger, and prepare year-end adjustments, an adjusted trial balance, income statement, balance sheet, and statement of cash flows. Brian Burns Technology Corp. uses the following chart of accounts (note that you may not use all these accounts):
Account Number Account Title
100 Cash
110 Accounts Receivable
115 Allowance for Doubtful Accounts (AFDA)
120 Interest Receivable
130 Inventory
135 Supplies
140 Prepaid Rent
145 Prepaid Insurance
150 Available for Sale Investments (non-cu
ent)
160 Land
170 Buildings
175 Accumulated Depreciation – Buildings
180 Equipment
185 Accumulated Depreciation – Equipment
190 Patents
210 Accounts Payable
220 Salaries Payable
225 Utilities Payable
230 Interest Payable
235 Unearned Rent
240 Income Taxes Payable
245 Dividends Payable
250 Notes Payable
XXXXXXXXXX XXXXXXXXXXDiscount on Notes Payable
300 Common Stock
310 Additional Paid-In Capital
320 Retained Earnings
325 Dividends
330 Accumulated Other Comprehensive Income
350 Treasury Stock
400 Sales Revenue
410 Interest Revenue
420 Rent Revenue
430 Dividend Revenue
500 Cost of Goods Sold
510 Salaries Expense
515 Bad Debt Expense
520 Rent Expense
525 Supplies Expense
530 Depreciation Expense – Buildings
535 Depreciation Expense – Equipment
540 Patent Amortization Expense
550 Utilities Expense
560 Insurance Expense
570 Interest Expense
590 Income Tax Expense
In addition to the income statement, balance sheet, and statement of cash flows, compile the following:
· General Ledger serves as a T-Account for each account. Post all journal entries to the general ledger to assist in forming the trial balance.
· Adjusted Trial Balance lists ALL accounts after adjusting journal entries but before closing journal entries
All students must prepare their own solution to this project; however, you may discuss your work with other students.
Notes for Journal Entries:
1) Brian Burns uses perpetual inventory system and LIFO
2) All credit sales discounts are recorded using the net method – customers receive a 3 percent discount if they pay within 30 days.
3) Purchase discounts are recorded using the net method
4) All depreciation is straight line.
Additional Information for Journal Entries
Brian Burns records accruals for utilities expense as an adjusting journal entry at the end of each year. They pay utilities once a year on January 31st for the prior year. NOTE: There is no payment for utilities on January 31st of 2021 because January 1 of 2021 is the first day of operations.
January 1 Sold 10,000 shares of common stock for $95 per share.
Bo
owed $2,000,000 at 8 percent with interest payable semi-annually (on July 1 and January 1).
Purchased 1,000 units of inventory at $150 a piece on credit from Biggie Smalls Inc. Terms are 2/10; n/60
Paid $480,000 for 2 years of rent in advance
Purchased office supplies costing $10,000 with cash
Jan 20 Paid Biggie full amount owed
Feb 10 Sold 100 units inventory with a list price of $22,000 to M Jagger on credit.
Sold 140 units of inventory for cash of $30,000.
March 15 Bought 1,000 units of inventory at $170 a piece from Wolfpack Corporation with cash
April 30 Sold 150 units of inventory for cash of $30,000
June 30 Purchased land and a building. A $200,000 cash down payment was required and a $800,000 note was accepted by the seller for the balance (12 percent interest payable each year on June 30). The fair value of the land at the date of purchase was deemed to be 300,000 and the fair value of the building was 900,000. The building has an estimated residual value of $0 and a useful life of 30 years.
September 1 Brian Burns began subleasing extra space to DJ Moore. DJ Moore paid for $60,000 for six months’ in advance.
October 1 Purchased equipment for in exchange for a $30,000 non-interest bearing note due in one year. The equipment has an estimated residual value of $2,000 and a useful life of 8 years. Note: Assume an effective interest rate of 8 percent.
October 1 Purchased one year of insurance in advance for $12,000
October 14 Sold 400 units of inventory to H Gilmore for $100,000 on credit
October 30 H Gilmore paid half of the amount owed
Dec 1 Repurchased 1,000 shares of stock for $120/share
Dec 15 Declared a dividend of $2/share. The dividend will be distributed to shareholders on January 19, 2021.
Dec 15 H Gilmore went bankrupt so Brian Burns wrote off the balance owed by H Gilmore as uncollectible (hint: Directly write-off this Account since no allowance has been made yet).
Dec 20 Purchased office supplies for $13,000 in cash.
Dec 25 Sold 150 units of inventory to J Lennon for $30,000 on Credit
Dec 31 Sold 1,000 units Inventory for $200,000 in Cash
Information for Adjusting Entries as of 12/31/21
A count of office supplies revealed $12,000 in office supplies as of 12/31
Receive the 2021 utility bill for $25,000, payable on January 31st 2021.
All depreciation is straight line.
Brian Burns uses the balance sheet method for estimating bad debts and estimates that 5 percent of outstanding A/R at year-end will be uncollectible.
The income tax rate for 2018 is 21%.
*Remember to record any necessary accruals related to the transactions (e.g., interest expense, unearned rent)
Brian Burns Technology Corp. – General Journal (2021 Transactions) – THIS IS A TEMPLATE, YOU WILL NEED MORE LINES
Date
Account Name/GL Account #
Debit
Credit
EX
Cash (100)
XXX
Sales Revenue (400)
1/1
Cash
950,000
Common Stock
950,000
1/1
Cash
2,000,000
Note Payable
2,000,000
1/1
Inventory
150,000
Accounts Payable
150,000
1/1
Prepaid Rent
480,000
Cash
480,000
1/1
Supplies
10,000
Cash
10,000
Brian Burns Technology Corp. – Adjusting Journal Entries - THIS IS A TEMPLATE, YOU WILL NEED MORE LINES
Date
Account Name/GL Account #
Debit
Credit
EX
Interest Expense
XXX
Interest Payable
XXX
Brian Burns Technology Corp. – Closing Journal Entries THIS IS A TEMPLATE, YOU WILL NEED MORE LINES
Date
Account Name/GL Account #
Debit
Credit
EX
Salaries Expense
XXX
EX
Retained Earnings
XXX
EX
Sales
XXX
EX
Retained Earnings
XXX
Brian Burns Technology Corp. – General Ledger THIS IS A TEMPLATE, YOU WILL NEED MORE LINES
· This is like a T-Account. Copy each journal entry relating to the account. After all debits and credits are posted to an account, the far right column will be your total. This will help you prepare the trial balance. Each account with a journal entry will appear on the General Ledger.
Acct #
Acct Name
Debit
Credit
Balance – DR or (CR)
100
Cash
XXXX
Etc.
Brian Burns Technology Corp. – Adjusted Trial Balance
· There will be one line item for each account with the ending balance from the General Ledger. This will include all accounts – temporary and permanent PRIOR TO CLOSING TEMPORARY ACCOUNTS TO RETAINED EARNINGS (RETAINED EARNINGS ACCOUNT WILL JUST BE ZERO ON THIS)
Account #
Account Name
Debit Balance
Credit Balance
100
Cash
XXXXX
110
Accounts Receivable
XXXXX
Etc.
Prepare the following Financial Statements for 2021:
· Income Statement
· Balance Sheet
· Statement of Cash Flows (Indirect Method)
10
cldatabaseaekn4of4-btgx1svr-pj4yr4te (2).docx
Knowledge Assessment: Developing databases
Criteria
Unit code, name and release numbe
ICTPRG402 Apply Query Language (Release 1)
ICTDBS403 Create Basic Databases (Release 1)
Qualification/Course code, name and release numbe
ICT40518 Certificate IV in Programming (Release 1)
ICT40118 Certificate IV in Information Technology (Release 1)
**Amend the qualification box before distributing to the student. The information here should only contain the qualification the student is enrolled in**
Student details
Student numbe
Student name
Assessment Declaration
This assessment is my original work and no part of it has been copied from any other source except where due acknowledgement is made.
No part of this assessment has been written for me by any other person except where such collaboration has been authorised by the assessor concerned.
I understand that plagiarism is the presentation of the work, idea or creation of another person as though it is your own. Plagiarism occurs when the origin of the material used is not appropriately cited. No part of this assessment is plagiarised.
Student signature and Date
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