Mary has her own business, a nail salon that she runs out of her home. she is the only nail technician but serves many clients in one day. the following tables provide information about time between arrivals and service time required for a manicure. assume the only service offered is a manicure.

time between arrivals

probability

random numbers

10 min

.2

00-19

20 min

.3

20-69

30 min

.2

70-89

40 min

.3

90-99

service time

probability

random numbers

10 min

.3

00-29

20 min

.4

30-69

30 min

.2

70-89

40 min

.1

90-99

random numbers

customer

1

2

3

4

5

6

7

8

9

arrivals

12

19

43

23

6

87

92

45

56

services

12

45

65

78

22

43

58

98

1

the first random number generted for arrivals is used to tell us then the first customer arrives after the shop opens. the second random number generated for service is used to tell us how long the service took.

answer the following questions using the charts above:

1) what time does the first customer arrive if the shop opens at 8 am?

2) what number customer will be the first to wait?

3) how long does the second customers appointment take?

Peninsula products has just applied for a loan at your bank. when reviewing peninsula's books for the year that just ended, you notice that the firm uses the fair value option for its bonds payable. you also see that the firm recorded a $55,000 debit in its bonds payable account and a $55,000 credit in its unrealized holding gain or loss"income account. over that same period, interest rates decreased by about 0.5 percent. how should this information affect the bank's decision as to whether to grant peninsula a loan? a : the bank should strongly consider giving a loan to peninsula because the changes in firm's bonds payable and unrealized holding gain or loss"income accounts suggest that peninsula has seen an increase in its credit rating over the past year. b : the bank should put little emphasis on the changes in peninsula's bonds payable and unrealized holding gain or loss"income accounts because these changes are likely the result of the rise in interest rates. c : the bank should hesitate before giving a loan to peninsula because the changes in firm's bonds payable and unrealized holding gain or loss"income accounts suggest that peninsula has seen a decline in its credit rating over the past year. d : the bank should put little emphasis on the changes in peninsula's bonds payable and unrealized holding gain or loss"income accounts because these changes are likely unrelated to either interest rates or the firm's credit rating.

Which of the following statements is true regarding the definition of a fund? a fund is a fiscal entity which is designed to provide reporting that demonstrates conformance with finance-related legal and contractual provisions separately from gaap reporting. a fund exists to assist in carrying on activities and attaining objectives where there are no specific rules or restrictions. a fund is an accounting entity which is designed to enable reporting in conformity with gaap without being restricted by legal or contractual provisions. a fund is a mechanism developed to provide accounting for revenues and expenditures that are subject to certain restrictions separate from revenues and expenditures that are not subject to restrictions.

Right medical introduced a new implant that carries a five-year warranty against manufacturer’s defects. based on industry experience with similar product introductions, warranty costs are expected to approximate 2% of sales. sales were $8 million and actual warranty expenditures were $42,750 for the first year of selling the product. what amount (if any) should right report as a liability at the end of the year?