Delta, United, and American Airlines announced purchases of planes on July 18 (7/18),February 12 (2/12), and October 7 (10/7), respectively.DeltaUnitedAmericanMarket CompanyDate Return Return Date7/12 -.42-.632/8Market CompanyReturn Return-.91 -1.22Market CompanyDateReturn Return10/1 .62 .407/13.00.322/9-1.01 -1.2210/2.52.697/16 1.261.462/10.52.3210/31.221.227/17-1.26 -1.082/11.723.3410/622-2.587/18-2.211.112/12-.42-.1910/7-2.32-.457/19-.85 -.702/151.222.7810/8.62.627/20-.91 -1.142/16.62.6210/9-.42-.197/23.73.532/17-.42-.2210/1042-.257/24.22.012/18.42.3010/13.00-.22Given the above information, calculate the cumulative abnormal return (CAR) for thesestocks as a group. (A negative answer should be indicated by a minus sign. Leave nocells blank - be certain to enter "0" wherever required. Do not round intermediatecalculations and round your answers to 2 decimal places, e.g., 32.16.)Abnormal returns (R; - RM)Days fromDeltaUnitedannouncement-4-3-2-101234AmericanSumAverageabnormalreturnCumulativeaverage return

References; Borochin, P. (2020). The information content of real operating performance measures from…

Answered: Delta, United, and American Airlines…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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The following selected transactions were completed during April between Swan Company and Bird Company: Apr.2. Swan Company sold merchandise on account to Bird Company, $14,800, terms FOB shipping point, 2/10, n/30. Swan Company paid freight of $330, which was added to the invoice. The cost of the merchandise sold was $9,300. 8. Swan Company sold merchandise on account to Bird Company, $23,000, terms FOB destination, 1/15, n/30. The cost of the merchandise sold was $13,800. 8. Swan Company paid freight of $820 for delivery of merchandise sold to Bird Company on April 8. 12. Bird Company paid Swan Company for purchase of April 2. 18. Swan Company paid Bird Company a refund of $2,000 for defective merchandise in the April 2 purchase. Bird Company agreed to keep the merchandise. 23. Bird Company paid Swan Company for purchase of April 8. 24. Swan Company sold merchandise on account to Bird Company, $11,800, terms FOB shipping point, n/45. The cost of the merchandise sold was…
The following selected transactions were completed during April between Swan Company and Bird Company: Apr.2. Swan Company sold merchandise on account to Bird Company, $14,800, terms FOB shipping point, 2/10, n/30. Swan Company paid freight of $330, which was added to the invoice. The cost of the merchandise sold was $9,300. 8. Swan Company sold merchandise on account to Bird Company, $23,000, terms FOB destination, 1/15, n/30. The cost of the merchandise sold was $13,800. 8. Swan Company paid freight of $820 for delivery of merchandise sold to Bird Company on April 8. 12. Bird Company paid Swan Company for purchase of April 2. 18. Swan Company paid Bird Company a refund of $2,000 for defective merchandise in the April 2 purchase. Bird Company agreed to keep the merchandise. 23. Bird Company paid Swan Company for purchase of April 8. 24. Swan Company sold merchandise on account to Bird Company, $11,800, terms FOB shipping point, n/45. The cost of the merchandise sold was…
The following are taken from the record of ABM Company for the year ended December 31, 20X2: DEBIT CREDIT |Sales Purchase Discount Purchase Returns and allowances Purchases Freight-in P764,985 8,200 5,465 459,990 9,180 13,300 5,455 25,000 Sales discount Sales returns and allowances Depreciation Expense Amortization expense Salaries Expense Utilities Expense Advertising Expense Rent Expense Interest Income Interest Expense Gain on sale of PPE Bad Debts Expense 10,000 80,000 55,000 35,000 60,000 5,444 5,677 5,465 ??? • Based on actual physical count, inventory balance are as follows: January 1, 20X2 December 31, 20X2 P25,455 P20,765 Bad debts expenso is 4% of net sales. Classify the bad debt expense as general and administrative expense. Determine the following by preparing a multi-step form of SCI. a. Net Sales b. Net Purchases c. Cost of goods sold d. Bad debts expense e. Gross Profit. f. Total Expenses g. Net Income/Loss
A VAT-registered business makes a sale of P12,000, inclusive of VAT. The VAT on the sale can be computed as* a. P12,000 x 12%b. P12,000 / 12% c. P12,000 x 12% / 112%d. P12,000 / 12% / 112%
CardPointe New Tab O UTA Is The Leader I.. Commercial Captur... ups UPS-Shipping Search for Corporat... 目 Re- On March 15, Monroe Sales sells $9,525.00 on account to Garrison Brewer with terms of 2/10, n/3O. The cost of goods sold was $6,905.00. (a) Journalize the sale and the recognition of the cost of the sale. If required, round your answers to two decimal places. Sale Cost (b) On March 20, a $125.00 credit memo is given t o Garrison Brewer due to merchandise that was the wrong color. Journalize this event. The cost of the returned merchandise was $65.00. If reguired, round your answers to two decimal places. Return Cost (c) On March 25, Garrison Brewer submits payment in full. Journalize this event. If required, round your answers to two decimal places. Previous Next Email Instructor
The following selected transactions were completed during August between Summit Company and Beartooth Co.:Aug. 1. Summit Company sold merchandise on account to Beartooth Co., $48,000, terms FOB destination, 2/15, n/eom. The cost of the merchandise sold was $28,800.2. Summit Company paid freight of $1,150 for delivery of merchandise sold to Beartooth Co. on August 1.5. Summit Company sold merchandise on account to Beartooth Co., $66,000, terms FOB shipping point, n/45. The cost of the merchandise sold was $40,000.9. Beartooth Co. paid freight of $2,300 on August 5 purchase from Summit Company.15. Summit Company sold merchandise on account to Beartooth Co., $58,700, terms FOB shipping point, 1/10, n/30. Summit Company paid freight of $1,675, which was added to the invoice. The cost of the merchandise sold was $35,000.16. Beartooth Co. paid Summit Company for purchase of August 1.20. Summit Company paid Beartooth Co. a refund of $1,800 for defective merchandise in the August 1 purchase.…
The following selected transactions were completed during August between Summit Company and Beartooth Co.: Aug. 1 Summit Company sold merchandise on account to Beartooth Co., $48,000, terms FOB destination, n/15. The cost of the goods sold was $28,800. 2 Summit Company paid freight of $1,150 for delivery of merchandise sold to Beartooth Co. on August 1. 5 Summit Company sold merchandise on account to Beartooth Co., $66,000, terms FOB shipping point, n/eom. The cost of the goods sold was $40,000. 9 Beartooth Co. paid freight of $2,300 on August 5 purchase from Summit Company. 15 Summit Company sold merchandise on account to Beartooth Co., $58,700, terms FOB shipping point, n/45. Summit paid freight of $1,675, which was added to the invoice. The cost of the goods sold was $35,000. 16 Beartooth Co. paid Summit Company for purchase of August 1. 20 Summit Company paid Beartooth Co. a cash refund of $1,000 for defective merchandise purchased on August 1.…
The following selected transactions were completed during August between Summit Company and Beartooth Co.: Aug. 1 Summit Company sold merchandise on account to Beartooth Co., $48,000, terms FOB destination, n/15. The cost of the goods sold was $28,800. 2 Summit Company paid freight of $1,150 for delivery of merchandise sold to Beartooth Co. on August 1. 5 Summit Company sold merchandise on account to Beartooth Co., $66,000, terms FOB shipping point, n/eom. The cost of the goods sold was $40,000. 9 Beartooth Co. paid freight of $2,300 on August 5 purchase from Summit Company. 15 Summit Company sold merchandise on account to Beartooth Co., $58,700, terms FOB shipping point, n/45. Summit paid freight of $1,675, which was added to the invoice. The cost of the goods sold was $35,000. 16 Beartooth Co. paid Summit Company for purchase of August 1. 20 Summit Company paid Beartooth Co. a cash refund of $1,000 for defective merchandise purchased on August 1. Beartooth…
TThe following selected transactions were completed during August between Summit Company and Beartooth Co.: Aug. 1 Summit Company sold merchandise on account to Beartooth Co., $48,000, terms FOB destination, n/15. The cost of the goods sold was $28,800. 2 Summit Company paid freight of $1,150 for delivery of merchandise sold to Beartooth Co. on August 1. 5 Summit Company sold merchandise on account to Beartooth Co., $66,000, terms FOB shipping point, n/eom. The cost of the goods sold was $40,000. 9 Beartooth Co. paid freight of $2,300 on August 5 purchase from Summit Company. 15 Summit Company sold merchandise on account to Beartooth Co., $58,700, terms FOB shipping point, n/45. Summit paid freight of $1,675, which was added to the invoice. The cost of the goods sold was $35,000. 16 Beartooth Co. paid Summit Company for purchase of August 1. 20 Summit Company paid Beartooth Co. a cash refund of $1,000 for defective merchandise purchased on August 1.…
The following selected transactions were completed during August between Summit Com- pany and Beartooth Co.: Aug. 1. Summit Company sold merchandise on account to Beartooth Co., $48,000, terms FOB destination, 2/15, n/eom. The cost of the merchandise sold was $28,800. 2. Summit Company paid freight of $1,150 for delivery of merchandise sold to Beartooth Co. on August 1. 5. Summit Company sold merchandise on account to Beartooth Co., $66,000, terms FOB shipping point, n/eom. The cost of the merchandise sold was $40,000. 6. Beartooth Co. returned $10,500 of merchandise purchased on account on August 1 from Summit Company. The cost of the merchandise returned was $6,300. 9. Beartooth Co. paid freight of $2,300 on August 5 purchase from Summit Company. 15. Summit Company sold merchandise on account to Beartooth Co., $58,700, terms FOB shipping point, 1/10, n/30. Summit Company paid freight of $1,675, which was added to the invoice. The…
The following data pertain to ABC Corporation on December 31, 2022Payroll account - 500,000Treasury bills, due 1/31/23 (purchased 11/2/22) - 300,000Credit memo from a vendor for a purchase return - 20,000Treasury bills, due 3/31/23 (purchased 12/1/22) - 200,000Money order - 30,000Treasury bills, due 1/30/23 (purchased 10/31/22) - 400,000Customer’s check outstanding for 18 months - 50,000Time deposit – 30 days - 200,000Certificate of deposit (due June 30, 2023 acquired December 31, 2022) - 500,000360-day Treasury bills, due 1/31/23 (purchased 11/2/22) - 600,000 Compute the total amount to be included as cash equivalents as of December 31, 2022.

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