Exercise 9-2 Recording known current liabilities LO C2 Listed below are a few transactions and events of Piper Company. Piper Company records a year-end entry for $10,000 of previously unrecorded cash sales (costing $5,000) and its sales taxes at a rate of 4%. The company earned $50,000 of $125,000 previously received in advance and originally recorded as unearned services revenue. Prepare any necessary adjusting entries at December 31, 2017, for Piper Company's year-end financial statements for each of the above separate transactions and events. (Piper has the policy of recording cash received in advance in balance sheet accounts.)

Rate of return, standard deviation, coefficient of variation personal finance problem mike is searching for a stock to include in his current stock portfolio. he is interested in hi-tech inc.; he has been impressed with the company's computer products and believes hi-tech is an innovative market player. however, mike realizes that any time you consider a technology stock, risk is a major concern. the rule he follows is to include only securities with a coefficient of variation of returns below 1.07. mike has obtained the following price information for the period 2015 through 2018:hi-tech stock, being growth-oriented, did not pay any dividends during these 4 years. a. calculate the rate of return for each year, 2015 through 2018, for hi-tech stock. b. assume that each year's return is equally probable and calculate the average return over this time period. c. calculate the standard deviation of returns over the past 4 years. (hint: treat this data as a sample.) d. based on b and c determine the coefficient of variation of returns for the security. e. given the calculation in d what should be mike's decision regarding the inclusion of hi-tech stock in his portfolio?