To diagnose colorectal cancer, the hemoccult test is conducted to detect occult blood in the stool. For symptom-free people over 50 years old who participate in screening using the hemoccult test, the following information is available.
The probability that one of these people has colorectal cancer is 0.3 percent. If a person has colorectal cancer, the probability is 50 percent that he will have a positive hemoccult test. If a person does not have colorectal cancer, the probability is 3 percent that he will still have a positive hemoccult test. Imagine a person (over age 50, no symptoms) who has a positive hemoccult test in your screening. What is the probability that this person actually has colorectal cancer?”
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Ramirez Company installs a computerized manufacturing machine in its factory at the beginning of the year at a cost of $43,500. The machine’s useful life is estimated at 10 years, or 385,000 units of product, with a $5,000 salvage value. During the first year , the machine produces 40,000 units of product and 32,500 units of the product in the second year.
Determine the machine’s first- and second-year depreciation using
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The following table shows the results of an analysis of variance comparing two treatment conditions with a sample of n = 11 participants in each treatment. Note that several values are missing in the table. What is the missing value for the F-ratio?
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Ramirez Company installs a computerized manufacturing machine in its factory at the beginning of the year at a cost of $43,500. The machine’s useful life is estimated at 10 years, or 385,000 units of product, with a $5,000 salvage value. During the first year , the machine produces 40,000 units of product and 32,500 units of the product in the second year.
Determine the machine’s first- and second-year depreciation using
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On January 1, 2020, Pronghorn Company acquires $270,000 of Spiderman Products, Inc., 9% bonds at a price of $244,500. Interest is received on January 1 of each year, and the bonds mature on January 1, 2023. The investment will provide Pronghorn Company a 13% yield. The bonds are classified as held-to-maturity.
Prepare a 3-year schedule of interest revenue and bond discount amortization, applying the straight-line method. (Round answers to 0 decimal places, e.g. 2,500.)
Schedule of Interest Revenue and Bond Discount Amortization Straight-line Method Bond Purchased to Yield
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On January 1, 2020, Pronghorn Company acquires $270,000 of Spiderman Products, Inc., 9% bonds at a price of $244,500. Interest is received on January 1 of each year, and the bonds mature on January 1, 2023. The investment will provide Pronghorn Company a 13% yield. The bonds are classified as held-to-maturity.
(c)
Prepare the journal entry for the interest revenue and discount amortization under the straight-line method at December 31, 2021.
(d)
Prepare the journal entry for the interest revenue and discount amortization under the effective-interest method at December 31, 2021.
(Round answers to 0 decimal places, e.g. 2,500. Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select “No Entry” for the account titles and enter 0 for the amounts.)
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A 4-ft section of aluminum pipe of cross-sectional area 1.75 in2 rests on a fixed support at A. The 58-in.-diameter steel rod BC hangs from a rigid bar that rests on the top of the pipe at B. Knowing that the smodulus of elasticity is 29 3 106 psi for steel and 10.4 3 106 psi for aluminum, determine the deflection of point C when a 15-kip force is applied at C.
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During 2020, Pearl Company started a construction job with a contract price of $1,610,000. The job was completed in 2022. The following information is available.
2020
2021
2022
Costs incurred to date
$393,900
$760,380
$1,059,000
Estimated costs to complete
616,100
341,620
–0–
Billings to date
299,000
905,000
1,610,000
Collections to date
268,000
818,000
1,421,000
Compute the amount of gross profit to be recognized each year, assuming the completed-contract method is used.
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