Answer:
Part a: The probability of breaking even in 6 tosses is 0.3125.
Part b: The probability that one payer wins all the money after the 10th toss is 0.0264.
Explanation:
Part a
P(success)=1/2=0.5
P(Failure)=1/2=0.5
Now for the break-even at the sixth toss
P(Break Even)=P(3 success out of 6)
P(3 success out of 6)
So the probability of breaking even in 6 tosses is 0.3125.
Part b:
So the probability that one of the player wins all the money after the 10th toss is given as the tenth toss is given as a win so
Wins in 9 tosses is given as 9!/7!=72
The probability that the other person wins
Wins in 8 out of 10 tosses is given as 10!/8!(10-8)!=10!/8!2!=45
So the probability of all the money is won by one of the gambler after the 10th toss is given as
P=number of wins in 9 tosses-Number of wins in 10 tosses/total number of tosses
P=(72-45)/2^16
P=0.0264
So the probability that one payer wins all the money after the 10th toss is 0.0264.
Answer:
1.) The internal controls which were missing are from the separation of responsibilities. There must have been in place an inner regulator were an individual works with advisers while alternative individual or unit take-care of the expense procedure, then somebody else allow expenses and then office should distribute the expenditures. There is an absence of inner controls as you can realize that the corporation amalgamated with a larger corporation and no one measured other accounts such as Jackson and company any longer.
2.) With the lack of control, this offered Helen the chance to effect the fraud. With this presence said, she was talented to emulate sign receipts and spend the retailer’s expenditures. She were also the one in responsibility of office the initial and final of accounts. In short, she had several accountabilities that should have remained separated up better and had diverse individuals for the separations of the job. In addition, she needed a bank description from the corporation where she was capable to put the expenditures and pay individual expenditures.
3.) The method this fraud might be noticed is the inspection squad can ask the bank for reports. They might also conference sellers. The accounting section should have ended sure they were doing the due diligence in dealers and corresponding the receipts with statements and expenditures.
Answer: $15,000 gift from Diana’s mother for the down payment of their new house
Explanation: under the US code 102- Gifts and other inheritances. Gross income does not include the value of property acquired by gift. Money given as gifts to purchase a property are not taxable.
Answer:
The correct answer is (C) Reported as a current asset.
Explanation:
The current asset, also called a current or liquid asset, is the asset of a company that can become liquid (become money) in less than twelve months. For example, bank money, stocks, and financial investments.
We can also understand the current asset as all those resources that are necessary to carry out the day-to-day activities of the company. It is known as current because it is a type of asset that is in continuous movement, can be sold, used, converted into liquid money or delivered as payment without too much difficulty.
Answer:
$131,000
Explanation:
The computation of the ending balance of stockholder equity is shown below:
= Beginning balance of stockholder equity + net income - dividend paid + additional common stock issued
= $94,000 + $24,000 - $9,000 + $22,000
= $131,000
Therefore, the ending balance of stockholder equity is $131,000
We simply added the net income and the additional common stock issued and deduct the dividend paid to the beginning balance of stockholder equity so that the ending balance could come
