A cash receipts clerk is responsible for receiving cash while General Accounting is responsible for preparing the bank's reconciliation.
Meanwhile, employees in Accounts Payable are responsible for examining the price of items ordered on the Purchase Order to the unpriced items received on the Vendor Invoice to ensure that fit and finish meet the company's criteria. They are also responsible for supervising, calculating, segregating, and documenting. In general, the primary responsibility of the cash receipts clerk is to collect and document payments from customers.
Accounts Payable is responsible for ensuring that all vendors and suppliers are paid in a timely and accurate manner. This department is responsible for examining vendor invoices, ensuring that the price of items ordered on the Purchase Order matches the unpriced items received on the Vendor Invoice, and resolving any discrepancies or errors that are identified. Accounts Payable is also responsible for supervising, calculating, segregating, and documenting invoices to ensure that they are properly processed and recorded.
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kurt lewin's model of change involves understanding the need for change, changing, and evaluating the change.
Kurt Lewin's model of change involves three main steps: understanding the need for change, making the change, and evaluating the change.
Understanding the need for change: This step involves recognizing that there is a problem or a need for improvement in a particular situation. It could be something like outdated processes, low productivity, or customer dissatisfaction. To understand the need for change, it's important to gather information, analyze data, and identify areas that require improvement.
Making the change: Once the need for change has been identified, the next step is to implement the necessary changes. This involves developing a plan, communicating it to the relevant stakeholders, and executing the plan. It may include actions such as introducing new procedures, training employees, or updating technology. It's essential to involve and engage all those affected by the change to increase acceptance and cooperation.
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Murray Compensation, Inc. issued 100,000 employee share options on 1/1/2016. The grand-date market price is $18 per share, exercise price is also $18 per share, and the fair value of the options is $9 per share. The vesting period is 3 years.
How much stock option compensation should be record for the first year (2016]?
Due to the significant decrease in stock price, the fair value of the option dropped to $4 per share as of 1/1/18. As a result, Murray decreased the exercise price of the option to from $18 to $12 per share. With the re-pricing, the fair value is now $6 per share. How much additional compensation should be recorded for 2018? . How much total compensation should be recorded for 2018?
Stock options compensation is an expense. It is recorded in the income statement and is deducted from revenue in order to arrive at the net income.
Stock options compensation arises when the company grants employee stock options. The amount of compensation is calculated based on the fair value of the options as of the grant date and is usually expensed over the vesting period. Murray Compensation, Inc. issued 100,000 employee share options on 1/1/2016. The grant-date market price is $18 per share, exercise price is also $18 per share, and the fair value of the options is $9 per share. The vesting period is 3 years. In the first year,
the company would recognize $3 per share (=$9/3) as stock option compensation expense.
The total compensation expense for 2016 would be $300,000 (=100,000 shares x $3/share).Due to the significant decrease in stock price, the fair value of the option dropped to $4 per share as of 1/1/18. As a result, Murray decreased the exercise price of the option from $18 to $12 per share.
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David Wallace, Olena Dunn, and Danny Lin were partners in a commercial architect firm and showed the following account balances of December 31,2020 : Due to several unprofitable periods, the partners decided to liquidate the partnership. The equipment was sold for $73,000 on January 1, 2021. The partners share any profit (loss) in the ratio of 2.11 for Wallace, Dunn, and Lin, respectively. Required: 1. Complete the schedule. (Negative answers should be indicated by a minus sign.) Required: 1. Complete the schedule. (Negative answers should be indicated by a minus sign.) e answers should be indicated by a minus sign.) 2. Prepare the liquidation entries (sale of equipment, allocation of gain/loss, payment of creditors, final distribution of cash). 1 Record the sale of equipment. 2 Record the distribution of gain/loss on sale of equipment to partners. 3 Record the payment to creditors. 4 Record the distribution of remaining cash to partners.
The following actions must be completed in order to finish the schedule and get the partnership's liquidation entries ready:
1. Keep track of equipment sales:Cash ($73,000) is debited.Equipment ($73,000) is credited.
2. Keep track of how much profit or loss partners received from the sale of equipment:We require the equipment's initial cost in order to calculate the gain or loss. Suppose the initial price was $80,000.
Gain/Loss Calculation: Loss on Sale of Equipment (-$7,000) = Sale Price of Equipment ($73,000) - Original Cost of Equipment ($80,000).
The partners' respective profit-sharing ratios will determine how the loss is divided among them:
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Review Concept Box 16.2. The investor-developer would not be comfortable with a 7.8 percent return on cost because the margin for error is too risky. If construction costs are higher or rents are lower than anticipated, the project may not be feasible. The asking price of the project is $7,300,000 and the construction cost per unit is $81,000. The current rent to justify the land acqusition is $1.6 per square foot.
Required:
a. Based on the fact that the project appears to have 9,360 square feet of surface area in excess of zoning requirements, the developer could make an argument to the planning department for an additional 10 units, 250 units in total, or 25 units per acre. What is the percentage return on total cost under the revised proposal? Is the revised proposal financially feasible?
b. Suppose the developer could build a 240-unit luxury apartment complex with a cost of $105,500 per unit. What would such a project have to rent for (per square foot) to make an 8 percent return on total cost?
The revised proposal is not financially feasible because the percentage return on total cost is less than 1.77%.
$9.38, would such a project have to rent for (per square foot) to make an 8 percent return on total cost.
A.
The price of construction is $81,000 per unit.
There are 250 units in total.
The sum of the building costs is equal to the sum of the units.
The entire cost of the project is $81,000 divided by 250.
The entire price of construction is $20,250,000.
The project's asking price is $7,300,000.
If we include the price of the extra 10 units.
$7,300,000 + ($81,000 divided by 10) would equal $7,780,000 as the total asking price.
The project would cost $81,000 250 + ($81,000 10) in total.
The project would cost $20,330,000 in total.
($360,000 / $20,330,000) x 100% = 1.77%
B.
Each unit costs $105,500.
There are 240 units altogether.
The project will cost $25,320,000 ($105,500 x 240).
The project would need to bring in $2,025,600 ($25,320,000 x 8%) to make an 8% return on total investment.
The project's overall square footage is equal to 240 units times 900.
The project encompasses 216,000 square feet in total.
$9.38 per square foot ($2,025,600 divided by 216,000)
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your company wants to activate enterprise licenses on a one-time basis by calling microsoft. which of the following activation processes will they need to use?
To activate enterprise licenses on a one-time basis, the company needs to initiate the process through a phone call to Microsoft, as it requires direct communication for activation. Therefore, option D is correct.
Activation refers to the process of enabling or authorizing the use of enterprise licenses. In the context of Microsoft, it involves validating and activating the licenses to grant users access to the designated software or services.
Phone activation requires the company to initiate a direct conversation with Microsoft's support or licensing team to provide the necessary information and follow the required steps for license activation.
This interactive approach ensures proper verification and facilitates any additional steps or clarifications needed for successful license activation, ensuring compliance and authorized usage of the enterprise licenses.
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Most probably; your complete question is here:
your company wants to activate enterprise licenses on a one-time basis by calling microsoft. which of the following activation processes will they need to use?
A. Online activation through Microsoft's website.
B. Email activation request to Microsoft.
C. In-person activation at a Microsoft service center.
D. Phone activation by calling Microsoft.
A five-year, 6.5% bond with a YTM of 5.0% has a duration of 4.45 and convexity of 25.59. The bond's current price quote is 106.494. Assume the bond pays annual coupons and has a par value of $1.000. a. Compute the percentage change in the bond's price if its YTM increases 75 basis points. b. Estimate the percentage change in the bond's price using modified duration and the convexity correction (the duration \& convexity rule) if the bond's YTM increases 75 basis points. c. Compute the percentage change in the bond's price if its YTM decreases 90 basis points. d. Estimate the percentage change in the bond's price using modified duration and the convexity correction (the duration \& convexity rule) if the bond's YTM decreases 90 basis points.
To calculate the percentage change in the bond's price if its YTM increases 75 basis points, we can use the following formula.
[tex]% Change in bond price = - Duration × ΔYTM + (Convexity × ΔYTM²) / 2[/tex] Where: Duration = 4.45ΔYTM = 75 basis points = 0.75%Convexity = 25.59 Therefore, [tex]% Change in bond price = - 4.45 × 0.75 + (25.59 × 0.75²) / 2= - 3.3375 + 11.4141= 8.0766[/tex] The percentage change in the bond's price if its YTM increases 75 basis points is approximately 8.08%.
To estimate the percentage change in the bond's price using modified duration and the convexity correction if the bond's YTM increases 75 basis points, we can use the following formula:[tex]% Change in bond price = - Duration × ΔYTM + (Convexity × ΔYTM²) / 2[/tex]Where: [tex]Duration = 4.45ΔYTM = 75[/tex] [tex]basis points = 0.75%Convexity = 25.59.[/tex]
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Which strategy attempts to establish and maintain the image that an SBU's product or services are fundamentally unique from other products or services in the same market segment?
A) corporate strategy
B) differentiation strategy
C) related diversification strategy
D) unrelated diversification strategy
The strategy that attempts to establish and maintain the image that an SBU's product or services are fundamentally unique from other products or services in the same market segment is the differentiation strategy.
The differentiation strategy is focused on creating a unique and distinctive positioning for a product or service in the market. It involves developing features, qualities, or attributes that set the offering apart from competitors and create a perception of value and uniqueness among customers. By emphasizing the unique aspects of their products or services, companies implementing a differentiation strategy aim to attract customers based on their distinctive features rather than solely competing on price. This strategy helps to build a competitive advantage and create a perception of superiority in the market segment, thus distinguishing the SBU from its competitors.
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4. Payer yield is a metric used to benchmark various contracts of similar financial classes against others to examine financial performance. Payer yield is expressed as a percentage, calculated as (total payments/total charges). If Humana’s yield is 62% and Anthem’s yield is 67%, what percentage increase should Managed Care negotiate with Humana to bring it to parity with Anthem?
Payer yield is a metric used to benchmark various contracts of similar financial classes against others to examine financial performance. It is expressed as a percentage, calculated as (total payments/total charges).
To bring Humana's payer yield to parity with Anthem, we will first determine the percentage increase required.
Let's set up an equation to solve for the percentage increase we need to bring Humana to parity with Anthem:
Percentage Increase = [(Anthem's yield - Humana's yield)/Humana's yield] x 100Substitute the values we know into the formula:
Percentage Increase = [(67 - 62)/62] x 100Percentage Increase = (5/62) x 100Percentage Increase = 8.06%
Thus, Managed Care should negotiate an 8.06% increase in payer yield with Humana to bring it to parity with Anthem.
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Painfree Inc. just issued a semiannual coupon bond, which has a coupon rate of 6.8% and matures in 20 years. The bond's price is $1,870 and the par value is $2,000. Assume a tax rate of 35%. The company's after-tax cost of debt is • 3.47% • 4.46% • 5.11% • 3.71% • 4.83%
Painfree Inc. recently issued a semi-annual coupon bond, which has a 6.8% coupon rate and a 20-year maturity. The bond's price is $1,870, and its par value is $2,000. A tax rate of 35% is assumed.
What is the company's after-tax cost of debt?
The after-tax cost of debt formula is used to calculate the effective after-tax cost of debt for a company. It considers both the interest rate paid on a company's debt and the tax rate paid by the company. The formula for the after-tax cost of debt is:
After-tax cost of debt = pre-tax cost of debt x (1 - tax rate).
Here's how to apply the formula to the problem at hand: The coupon rate is 6.8%, which is the pre-tax cost of debt. As a result, the pre-tax cost of debt equals 6.8%. Because the tax rate is 35%, (1 - 0.35) equals 0.65, which is the after-tax cost of debt.
In other words, after-tax cost of debt = 6.8% x (1 - 0.35)
After-tax cost of debt = 4.42%
This means the after-tax cost of debt for Pain free Inc. is 4.42%.
Therefore, the correct option is 4.46%.
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eurodollars
money market mutal founds
Bonus
Derivatives of instruments
options contracts (call option, pull option)
futures contracts
swap
Eurodollars are a type of currency held in banks outside of the United States and are used in international financial transactions. They are not actually euro currency, despite their name, but rather dollars that are held in banks located in countries outside of the United States.
Eurodollars are often used by multinational corporations to manage their foreign currency exposure, and are also utilized in the money markets. Money market mutual funds are mutual funds that invest in short-term, low-risk debt securities such as Treasury bills and commercial paper. They are designed to provide a low-risk investment option for investors who want to earn a slightly higher return than a traditional savings account. Bonds are debt securities that are issued by governments, corporations, and other entities. When an investor purchases a bond, they are essentially lending money to the issuer in exchange for interest payments and the return of their principal investment at a specified maturity date. They are often used by banks and other financial institutions to manage their risk exposure. Bonuses are additional compensation paid to employees above and beyond their regular salary or wages. They are often used as an incentive to motivate employees to meet or exceed their performance goals.
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Nine-year Treasury bonds are yielding 4.8% per year and a nine-year corporate bond is yielding 6.3% per year. If the corporate bond's yield includes a 0.8% per year default premium and a 1.7% per year inflation premium, what is its liquidity premium?
1) 0.6%
2) 0.9%
3) 0.5%
4) 0.8%
5) 0.7%
The given information is:
Nine-year Treasury bonds are yielding 4.8% per year and a nine-year corporate bond is yielding 6.3% per year. If the corporate bond's yield includes a 0.8% per year default premium and a 1.7% per year inflation premium
The liquidity premium is the extra return that investors expect in exchange for providing liquidity to less-liquid securities. The formula to calculate liquidity premium is: Liquidity premium
= Yield on less liquid security - Yield on more liquid security For The yield on the more liquid security is the Treasury bond yield. We have,
Corporate bond yield = 6.3%
Treasury bond yield = 4.8%
Inflation premium = 1.7%
Default premium = 0.8%
The total risk premium of the corporate bond is:Risk premium
= Inflation premium + Default premium
Risk premium = 1.7% + 0.8%
Risk premium = 2.5%
Hence, the yield on the corporate bond, which consists of the required return plus the risk premium, is:
Corporate bond yield = Required return + Risk premium
Corporate bond yield = 6.3% + 2.5%
Corporate bond yield = 8.8%
Now we can use the formula to calculate the liquidity premium of the corporate bond.
Liquidity premium = Yield on less liquid security - Yield on more liquid security
Liquidity premium = 8.8% - 4.8%
Liquidity premium = 4%
Therefore, the liquidity premium is 4%. Thus, option 1 is the correct choice.
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The Cooling Division of JOY International produces a cooling element that it sells to its customers for $81 per unit. Its variable cost per unit is $25, and its fixed cost per unit is $34. Top management of JOY International would like the Cooling Division to transfer 10,000 cooling units to another division within the company at a price of $60. The Cooling Division currently has excess capacity of 22,000 units.
a. What is the minimum transfer price that the Cooling Division should accept? (Show the price and calculation) b. If the Cooling Division was operating at full capacity, what would be their minimum transfer price the Division should accept? (Show the price and calculation) (4 points
a. Calculation of minimum transfer price that the Cooling Division should accept:- The cooling division of Joy International has been offered a price of $60 per unit to transfer 10,000 cooling units to another division of the company. It is important to determine the minimum transfer price that the cooling division should accept.
The calculation of the minimum transfer price is as follows:
Minimum transfer price = Variable cost per unit + (Fixed cost per unit / units sold). Minimum transfer price = $25 + ($34 / 22,000)Minimum transfer price = $26.55Therefore, the minimum transfer price that the Cooling Division should accept is $26.55.
b. Calculation of minimum transfer price that the Cooling Division should accept if it was operating at full capacity:-The cooling division of Joy International has been offered a price of $60 per unit to transfer 10,000 cooling units to another division of the company. If the Cooling Division were operating at full capacity, it would not be able to manufacture any additional cooling units.
The calculation of the minimum transfer price that the Cooling Division should accept is as follows: Total cost per unit = variable cost per unit + fixed cost per unit.
Total cost per unit = $25 + $34Total cost per unit = $59.
Therefore, if the Cooling Division was operating at full capacity, the minimum transfer price that the Division should accept is $59.
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In July 2007, News Corporation entered into an agreement to purchase all of the outstanding shares of Dow Jones and Company for $54 per share. Immediately prior to the News Corporation bid, the shares of Dow Jones traded at $29 per share. The number of outstanding shares at the time of the announcement was 74 million. The book value of interest-bearing liabilities on the balance sheet of Dow Jones was $1.39 billion. Estimate the cost of this acquisition to the shareholders of News Corporation What value did News Corporation place on the control of Dow Jones and Company?
More than 100 words:News Corporation entered into an agreement to buy Dow Jones and Company in July 2007. News Corp.
bid for $54 per share for all outstanding shares of Dow Jones, and the shares traded at $29 per share. The number of shares at the time of the announcement was 74 million. The book value of interest-bearing liabilities on the balance sheet of Dow Jones was $1.39 billion. As a result, the cost of acquisition to News Corporation's shareholders can be calculated. The market value of the shares at the time of the announcement is equal to the cost of the shares, so we can calculate the cost of the acquisition by multiplying the number of shares by the price per share.
As a result, the cost of acquisition to News Corp. is equal to 74 million x $54 per share, or $3.996 billion. The cost of acquisition was more than $2.5 billion higher than the book value of the interest-bearing liabilities on the balance sheet of Dow Jones.
News Corporation will pay a price per share that is higher than the current market price, meaning that the company expects future cash flows from Dow Jones to be higher than the current market price.
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i hereby authorize university of massachusetts global to initiate debit or credit entries to my depository according to the terms below, and for my depository to debit or credit the same to such account. in the event that this electronic payment is returned unpaid for any reason, i understand that a $25.00 return fee will be added to my student account.i hereby authorize university of massachusetts global to initiate debit or credit entries to my depository according to the terms below, and for my depository to debit or credit the same to such account. in the event that this electronic payment is returned unpaid for any reason, i understand that a $25.00 return fee will be added to my student account.
The statement provided is an authorization for the University of Massachusetts Global to initiate debit or credit entries to the student's depository account. It also states that if the electronic payment is returned unpaid, a $25.00 return fee will be added to the student's account.
The statement is essentially giving permission to the University of Massachusetts Global to make transactions, either debits or credits, to the student's depository account. This means that the university has the authority to withdraw or deposit funds from the account as necessary.
Additionally, it states that if the electronic payment made by the university is returned unpaid for any reason, a $25.00 return fee will be added to the student's account. This fee is a penalty for the unsuccessful payment transaction. Overall, this authorization allows the university to manage the student's account electronically and specifies the consequences of a returned payment.
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As a staff in Airport what the steps you need to do to book a (Flights and hotel) for a customer ?
1- Ask the customer group of questions (Destination, Check-in\out date, number of people, etc...).
As a staff member working at an airport, it's possible that you may be required to assist customers in booking flights and hotels. Below are the steps you should take to successfully book a customer's flight and hotel reservations.
1. Welcome the customer and begin asking questions : Start by greeting the customer, thanking them for choosing your airline/hotel, and asking what you can assist them with. Begin by asking questions such as the destination, check-in/out dates, number of people travelling, and so on. You may also need to ask for additional information such as passport details, frequent flyer number, hotel preferences, and so on.
2. Check for availability : Check to see if there are any available flights and hotels that match the customer's requirements. Use the reservation system to look for available flights and hotels, and provide the customer with options that are within their budget and requirements.
3. Make the booking : Once the customer has selected their preferred flight and hotel options, make the bookings on their behalf. Confirm the booking details, and provide the customer with a summary of the itinerary. Collect payment if necessary and ensure that the customer receives a confirmation of their booking.
4. Provide additional information : Provide the customer with information about baggage allowance, check-in times, airport transfer options, and any other relevant information. If they require any special assistance such as wheelchair assistance, provide them with the necessary information and instructions on how to request it.
5. Follow up : Follow up with the customer a few days before their trip to confirm that everything is in order, and to remind them of their flight and hotel details. Answer any additional questions they may have and provide any further assistance if required.
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Question 4 ∼ Saved ACME Incorporated uses a perpetual inventory system. Assume GST at 5% and PST at 7%. The following selected transaction occurred: July 5 Sold to Football Co., merchandise with a cost of $4,800 for $6,000 plus applicable taxes, terms 2/10,n/30,FOB destination. Required: Prepare the journal entry to record the above transaction.
Here is the journal entry to record the transaction that occurred on July 5 by ACME Incorporated:
DateAccounts DebitCreditJul 5
Accounts receivable$6,450($6,000 + $240 GST + $210 PST)
Sales revenue$6,000GST receivable$240
Accounts receivable$240PST payable$210
Accounts receivable$210Cost of goods sold$4,800Inventory$4,800
Explanation : In the above transaction, ACME Incorporated sold goods to Football Co. at $6,000, which includes GST and PST applicable at the rate of 5% and 7% respectively.
The cost of the merchandise sold is $4,800.Terms of the transaction:2/10, n/30, FOB destination, which means the buyer will get a discount of 2% if payment is made within 10 days of the invoice date, and payment is due within 30 days of the invoice date.
The seller bears the transportation cost till the goods are delivered to the buyer’s destination.
Therefore, the journal entry will be prepared for the net amount of $6,450, which is inclusive of GST and PST. In this case, $6,000 is credited to the Sales revenue account, and the GST and PST payable are credited to their respective accounts.
The cost of goods sold is debited to the Cost of goods sold account, and the inventory account is debited for the merchandise's cost. The accounts receivable account is credited for the gross amount, i.e., $6,450.
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List all the preferential trade agreements (both Bilateral and Multilateral) that Singapore has with Peru, China and United States
Singapore has various preferential trade agreements both bilateral and multilateral with Peru, China, and the United States.
The preferential trade agreements are as follows: Bilateral trade agreements: Singapore-Peru FTA: Singapore-Peru FTA was signed in Lima, Peru on 29th May 2008 and came into force on 1st August 2009.
The agreement covers goods and services trade, investment, and government procurement.
Singapore and Peru agreed to enhance cooperation in various fields such as customs procedures, intellectual property rights, and electronic commerce.
It is Singapore's first FTA with a South American country and Peru's first with an Asian country.
Singapore-China FTA: Singapore-China FTA was signed on 23rd October 2008, in Beijing, China, and came into force on 1st January 2009.
The agreement covers goods and services trade, investment, and government procurement.
This agreement is aimed to provide a more conducive environment for Singapore and China's business communities to engage in trade and investment.
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Critically evaluate and explain: a. A firm in a perfectly competitive market should always shut when its marginal revenue is below its average cost (equivalent to average total cost).
b. The intersection of marginal revenue and marginal cost determines the quantity at which a business in a perfectly competitive market is profitable
a. A firm in a perfectly competitive market should not always shut down when its marginal revenue is below its average cost(equivalent to average total cost).
1. Calculate the average cost (AC) by dividing total cost by the quantity produced.
2. Compare the marginal revenue (MR) with the average cost (AC).
3. If the marginal revenue is greater than the average cost, the firm should continue operating.
4. If the marginal revenue is less than the average cost, consider additional factors such as fixed costs and long-term prospects before deciding to shut down.
5. Shutting down should be considered only if the firm cannot cover both variable and fixed costs with its total revenue.
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Logistics Solutions provides order fulfillment services for dot.com merchants. The company maintains warehouses that stock items carried by its dot.com clients. When a client receives an order from a customer, the order is forwarded to Logistics Solutions, which pulls the item from storage, packs it, and ships it to the customer. The company uses a predetermined variable overhead rate based on direct labor-hours.In the most recent month, 120,000 items were shipped to customers using 2,300 direct labor-hours. The company incurred a total of $7,360 in variable overhead costs.According to the company’s standards, 0.02 direct labor-hours are required to fulfill an order for one item and the variable overhead rate is $3.25 per direct labor-hour.Required:1. What is the standard labor-hours allowed (SH) to ship 120,000 items to customers?2. What is the standard variable overhead cost allowed (SH × SR) to ship 120,000 items to customers?3. What is the variable overhead spending variance?4. What is the variable overhead rate variance and the variable overhead efficiency variance?(For requirements 3 and 4, indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Input all amounts as positive values. Do not round intermediate calculations.)2) Problem 10-9 Comprehensive Variance Analysis [LO10-1, LO10-2, LO10-3]Marvel Parts, Inc., manufactures auto accessories. One of the company’s products is a set of seat covers that can be adjusted to fit nearly any small car. The company uses a standard cost system for all of its products. According to the standards that have been set for the seat covers, the factory should work 2,850 hours each month to produce 1,900 sets of covers. The standard costs associated with this level of production are:Total Per Setof CoversDirect materials $ 42,560 $ 22.40 Direct labor $ 51,300 27.00 Variable manufacturing overhead (based on direct labor-hours) $ 6,840 3.60 $ 53.00 During August, the factory worked only 2,800 direct labor-hours and produced 2,000 sets of covers. The following actual costs were recorded during the month:Total Per Setof CoversDirect materials (12,000 yards) $ 45,600 $ 22.80 Direct labor $ 49,000 24.50 Variable manufacturing overhead $ 7,000 3.50 $ 50.80 At standard, each set of covers should require 5.6 yards of material. All of the materials purchased during the month were used in production.Required:1. Compute the materials price and quantity variances for August.2. Compute the labor rate and efficiency variances for August.3. Compute the variable overhead rate and efficiency variances for August.(Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Input all amounts as positive values.)
To determine the standard labor-hours allowed (SH) to ship 120,000 items to customers, we need to calculate the number of direct labor-hours required per item and then multiply it by the total number of items shipped.
According to the company's standards, 0.02 direct labor-hours are required to fulfill an order for one item. Therefore, we can calculate the standard labor-hours allowed (SH) using the following formula:SH = (Number of items shipped) × (Direct labor-hours required per item)So, the standard labor-hours allowed (SH) to ship 120,000 items to customers is 2,400 labor-hours.
To calculate the standard variable overhead cost allowed (SH × SR) to ship 120,000 items to customers, we need to multiply the standard labor-hours allowed (SH) by the variable overhead rate (SR) per labor-hour. According to the company's standards, the variable overhead rate is $3.25 per direct labor-hour. Therefore, we can calculate the standard variable overhead cost allowed using the formula.
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Click to see additional instructions The nominal interest rate is 12%. The tax rate on nominal interest is 25%. The after tax nominal interest rate is
The nominal interest rate refers to the interest rate before adjusting for inflation, while the after-tax nominal interest rate refers to the real interest rate adjusted for taxes. Therefore, the after-tax nominal interest rate is calculated by subtracting the tax rate from the nominal interest rate and calculating the remaining amount.
For example, given a nominal interest rate of 12% and a tax rate of 25%, the after-tax nominal interest rate is calculated as follows:
After-tax nominal interest rate = (1 - tax rate) × nominal interest rate= (1 - 0.25) × 12%
= 0.75 × 12%
= 9%
Therefore, the after-tax nominal interest rate is 9%. The after-tax nominal interest rate is the rate of return on an investment after taxes have been paid.
The after-tax nominal interest rate is used to compare the relative profitability of different investment opportunities. For example, if two investment opportunities have the same nominal interest rate but different tax rates, the after-tax nominal interest rate can help determine which investment opportunity is more profitable.
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3. Conduct an analysis and evaluation of the shortlisted vendors
and select the best one from your selection. Justify your choice.
(5 marks)
After analyzing and evaluating the shortlisted vendors, the best one should be chosen. The choice should be justified.
An evaluation and analysis of the shortlisted vendors are essential for selecting the best one. Vendors are usually evaluated by conducting research on their reputation and previous projects they have undertaken. If possible, one can also try to seek reviews and opinions from their previous clients to help gain insight into their work. Other factors to consider include pricing, quality of work, technical skills, and experience.
Once all the research is done, and all the factors are considered, it's essential to make a comparison between the vendors' strengths and weaknesses. This helps in selecting the best vendor by weighing the advantages and disadvantages. It's advisable to make a final decision that balances the price, experience, and quality of work.
Once the best vendor is selected, it's essential to justify the choice. Justification helps in providing evidence for the decision made and helps to explain the reason behind it. This is useful in making comparisons to any other vendors that may have been shortlisted but were not selected.
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An obligation of a business that represents the claims of others against the assets of the business is called a(n) a asset b expense C liablity d equity
A liability is the answer to the question, "An obligation of a business that represents the claims of others against the assets of the business is called a(n). "A liability is an obligation of a business that represents the claims of others against the assets of the business.
It refers to the amount of money owed by a business to its creditors, including its suppliers, employees, and lenders. These obligations must be paid in the future and are recorded on the balance sheet of a company as a liability. A liability may be classified as either current or long-term.
A liability is an important concept in accounting because it reflects the financial obligations of a business. It also affects a company's financial health and its ability to pay its debts. Thus, it is important for businesses to manage their liabilities carefully by ensuring that they have enough cash to meet their obligations as they become due.
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Which of the following statements concerning accounting for depreciation and depletion in an estate is not true? a. For any depreciation taken, an equal amount of income maybe transferred to principal. b. Depreciation is a calculated on a basis other than GAAP. c. Depletion is generally taken for wasting assets. d. All of the above.
The statement that is false concerning accounting for depreciation and depletion in an estate is b. Depreciation is a calculated on a basis other than GAAP.
Accounting refers to the process of recording financial transactions pertaining to a business or an organization. It includes summarizing, analyzing, and reporting these transactions to agencies and tax collection entities.
It is a method of keeping track of the financial activities of a business or individual. An estate is the total assets and liabilities of a deceased person.
Accounting for depreciation and depletion in an estate is a process of determining how much the assets of a deceased person have decreased in value.
The difference between an asset's initial purchase value and its present value is called depreciation. Depletion, on the other hand, is the process of determining how much an asset has been used up.
The depletion of an asset is the cost of its extraction or depletion over a period of time. Therefore, depletion is generally taken for wasting assets.
The statement that is false concerning accounting for depreciation and depletion in an estate is b.
Depreciation is a calculated on a basis other than GAAP. Depreciation is calculated according to GAAP, which is the Generally Accepted Accounting Principles.
These are the guidelines for financial accounting and reporting.
Therefore, all the statements provided are false except statement c.
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beans increases during this week. Coleris parbus, this indicates that: The demand for its own brand of baked beans is inelastic with respect to income. The demand for its own brand of baked beans is vlastio whth respect to income. Its own brand of baked beans is an inferior good. The demand for its own brand of baked beans is inelastic with respect 10 price. The demand for its own brand of baked beans is elastic with respect to price,
According to the given information, the beans' sales have increased by more than 100 units during the current week. When sales increase, the demand is affected, and this information can be used to predict the behavior of consumer demand for the brand.
If the demand is elastic, then an increase in the price of the product would decrease the quantity of the product sold. However, if demand is inelastic, then an increase in the price would not affect the sales significantly. Thus, the answer to this question is that the demand for its brand of baked beans is inelastic with respect to price.
Here are the explanations of other options to help you understand the difference and determine the correct answer:If the demand for its brand of baked beans were an inferior good, it would mean that the sales would decrease when the income of the consumer increases.
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Under the Statute of Frauds, an oral promise to take on the debts of another is enforceable in some states. Can you think of any other activities that might be legally acceptable despite the fact that they are not in writing?
Under the Statute of Frauds, there are some activities that might be legally acceptable even though they are not in writing.
An oral promise to take on the debts of another is enforceable in some states.
Additionally, other activities that might be legally acceptable even though they are not in writing include:
Oral employment contracts. In some states, oral employment contracts that are less than a year long are legal.
Leases.
Short-term leases of one year or less do not require a written lease to be considered legal.
Agreements that cannot be performed within a year.
If an agreement cannot be performed within one year, it must be in writing.
Promissory Estoppel.
Promissory estoppel occurs when a promise is made without any written documentation.
This type of legal situation might arise when a person makes a promise to a business partner or a supplier.
This promise can be enforceable if the recipient relied on the promise and changed his position based on it.
Good faith and fair dealing.
Many states have laws in place that require parties to act in good faith and fair dealing in their business relationships.
This requirement does not require a written contract but rather an obligation to act with honesty and integrity.
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Choose one (1) of the following two prompts to discuss the implications for management and business strategy:
Determine the resources you would choose to recruit new employees. Discuss why you chose those resources.
OR
Determine the qualifications you would require a new employee to have and discuss why the qualifications that you selected are important.
Determine the qualifications you would require a new employee to have and discuss why the qualifications that you selected are important.
When recruiting new employees, I would prioritize qualifications such as relevant work experience, educational background, and specific skills that align with the job requirements. Work experience demonstrates practical knowledge and familiarity with industry practices, making it a valuable qualification. Educational background, especially in fields directly related to the job, provides a foundation of theoretical knowledge and specialized training. Specific skills relevant to the position, such as technical proficiency or communication abilities, ensure that candidates can perform the tasks and responsibilities effectively.
By emphasizing these qualifications, businesses can enhance the likelihood of hiring competent individuals who possess the necessary expertise and can contribute to the organization's success. Experience and education provide a strong foundation, while specific skills enable employees to excel in their roles and meet the demands of the job. Additionally, these qualifications help reduce the learning curve and facilitate a smoother integration into the workforce, allowing new employees to contribute quickly and effectively. Overall, prioritizing relevant qualifications in the recruitment process can significantly impact the success of management and business strategy by building a skilled and capable workforce.
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On 1st January 2019, Brown Plc., had in issue, 800,000 ordinary shares with a par value of sh. 10 each. On 31st October 2019 the company issued 100,000 ordinary shares at full market price at sh 20 each. On 31st December 2020, the directors decided to declare a bonus issue of 1 for 4. On 31st December 2021, the directors declared a rights issue of 1 for 5 at a price of sh. 20. On the day immediately before the rights issue took effect, the shares of this company were trading at sh. 25 each. Brown Plc. does not have any preference shares in issue.The post-tax earnings for the years 2019, 2020 and 2021 were £350,000 and £520,000 and £ 430,000 respectively.
Required
a. Compute the basic earnings per share for the years 2019, 2020 and 2021
b. From 'a' above, comment on the financial performance of this company, in each year.
a) Calculation of Basic earnings per share for the years 2019, 2020 and 2021Year 2019Year 2020Year 2021Post-Tax earnings £350,000, £520,000£430,000 No. of ordinary shares in issue 800,000800,0001,200,000 Total earnings 800,000 × £10 × 1 = £8,000,000800,000 × £10 × 1
= £8,000,0001,200,000 × £10 × 1
= £12,000,000
Basic EPS= Total earnings/ No. of ordinary shares in issue £8,000,000 ÷ 800,000
= £10£8,000,000 ÷ 800,000
= £10£12,000,000 ÷ 1,200,000
= £10
b) Comments on the financial performance of this company, in each year2019: In 2019, the basic EPS of the company was £10, which is commendable for any company. This means that the company has been able to generate more profits for its shareholders in 2019.
Although the basic EPS was not as high as in the previous years, the company was still able to maintain its profitability and financial performance. The right issue, declared in the same year, may have influenced the basic EPS value since it is an indicator of a potential dilution of the earnings per share.
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Our final forum of the year-->Forum F14 explores the Statement of Cash Flows. Please carefully and thoughtfully respond to each of the following questions regarding this important financial statement. For question no. 4 please show your computations and prepare well-labeled computations.
1--The Liu Company purchased machinery by issuing a long−term note payable. Should Liu Co. report this transaction on the Statement of Cash Flows? If so, how and where? If not, why not?
2--Which method does the Financial Accounting Standards Board (FASB) prefers for reporting cash flows from operating activities? Which method of reporting cash flows from operating activities is most popular with US corporations? Why do you think this disparity between the FASB and the business community exists? Which method do you personally prefer and why?
3--Describe the type of activities that should be reported under the operating activities section of the Statement of Cash Flows (SoCF). What type of activities should be reported under the investing activities? What type of activities should be included and reported on under the financing activities sections of the SoCF?
4--The Natasha Stewart Company uses the indirect method to prepare the statement of cash flows. Refer to the following income statement:
The Natasha Stewart Company
Income Statement
Year Ended December 31, 2025
Sales Revenue
$250,000
Interest Revenue
2,600
Gain on Sale of Plant Assets
6,000
Total Revenues and Gains
$258,600
Cost of Goods Sold
119,000
Salary Expense
41,000
Depreciation Expense
12,000
Other Operating Expenses
21,000
Interest Expense
1,700
Income Tax Expense
5,400
Total Expenses
200,100
Net Income (Loss)
$58,500
Additional information provided by the company includes the following:
1. Current assets, other than cash, increased by
$21,000.
2. Current liabilities decreased by
$1,300.
Compute the net cash provided by (used for) operating activities.
1. Yes, Liu Co. should report this transaction on the Statement of Cash Flows (SoCF).
The purchase of machinery by issuing a long-term note payable will result in a cash inflow from financing activities because the company borrowed cash from a long-term lender. Thus, Liu Co. must report this transaction in the financing activities section of the SoCF.
2. FASB prefers the indirect method for reporting cash flows from operating activities. The indirect method of reporting cash flows from operating activities is most popular with US corporations, due to its simplicity.I personally prefer the direct method of reporting cash flows from operating activities because it provides more information about the actual cash inflows and outflows from operating activities.
3. Operating activities are the primary activities of a business entity that generate revenue. The type of activities that should be reported under the operating activities section of the SoCF are the cash inflows and outflows directly related to the primary activities of the bussiness. The financing activities include transactions that result in changes in the size and composition of the equity and borrowings of the business, including the issuance of debt and equity securities.
4. Calculation of the net cash provided by operating activities Net Income (Loss)=$58,500
Add: Depreciation Expense=$12,000
Add: Increase in Current Assets=$21,000
Less: Decrease in Current Liabilities=$1,300
Add: Loss on Sale of Plant Assets=$0
Add: Interest Expense=$1,700Less:
Gain on Sale of Plant Assets=$6,000
Adjustment for changes in current assets and current liabilities= $19,700
Net Cash Provided by Operating Activities=$105,60
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Assume a company is preparing a budget for its first two months of operations. During the first and second months it expects cash sales of $25,000 and $41,500, respectively. It also expects credit sales of $51,500 and $61,500, respectively. The company expects to collect 45% of its credit sales in the month of the sale, 50% in the following month, and 5% is deemed uncollectible. What amount of cash collections would appear in the company's cash budget for the first month? . Multiple Choice $64,675 $23.175 $64.675 $23.15 $48.5 $4500
We must take into account both the cash and credit sales as well as the credit sales' collection trends in order to calculate the cash collections for the first month.
The business anticipates $25,000 in cash sales for the first month. Since these sales are done in cash, the proceeds will be collected right away. The corporation anticipates $51,500 in credit sales, but only 45% of them are paid for in the month of the transaction. Therefore, 45% of $51,500, or $23,175, would be the cash collected from credit sales in the first month. We sum the cash sales and the cash collections from credit sales to determine the total cash collections for the first month: first-month cash collections equal cash sales plus cash receipts from Credit sales equal $25,000 plus $23,175 for a total of 48,175 As a result, the right response is $48,175, which isn't one of the available multiple-choice answers.
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When investors trade so that the market price is higher than the intrinsic (true and unobservable) value of the stock, then the stock is said to be... overvalued in equilibrium undervalued R\&D breakthrough QUESTION 2 Check out Figure 1.3. When the intrinsic value is higher than the market stock price this is called "undervalued" What is the meaning of this term? this repesents the case when investors think the stock is valued less than the actual unobservable value this repesents the case when investors think the stock is valued more than the actual unobservable value this represents the case when the firm thinks it is valued more or less than investors this represents the case when some investors think the stock is valued less and others think it is more QUESTION 3 It is possible for a manager to recognize that being socially responsible is not inconsistent with maximizing shareholder value, and that in fact, both can be accomplished. (this is true) True False
1)The stock is said to be overvalued in this case,2) investors think the stock is valued less than the actual unobservable value and 3) This statement is true. It is possible for a manager to understand that being socially responsible can align with maximizing shareholder value.
Question 1: When investors trade so that the market price is higher than the intrinsic (true and unobservable) value of the stock, then the stock is said to be...
The stock is said to be overvalued in this case.
Question 2: When the intrinsic value is higher than the market stock price, this is called "undervalued". What is the meaning of this term?
The meaning of this term is that investors think the stock is valued less than the actual unobservable value.
Question 3: It is possible for a manager to recognize that being socially responsible is not inconsistent with maximizing shareholder value, and that in fact, both can be accomplished. (True/False)
This statement is true. It is possible for a manager to understand that being socially responsible can align with maximizing shareholder value.
In fact, there is a growing recognition that social responsibility can positively impact a company's reputation, brand image, and long-term sustainability, ultimately benefiting shareholders.
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The answer to Question 1 is overvalued. The meaning of 'undervalued' is conveyed in the answer to Question 2, representing the case when investors think the stock is valued less than the actual unobservable value. Question 3 is true, recognizing the compatibility of social responsibility and maximizing shareholder value.
Explanation:Question 1: When investors trade so that the market price is higher than the intrinsic value of the stock, the stock is said to be overvalued.
Question 2: When the intrinsic value is higher than the market stock price, this is called 'undervalued.' It represents the case when investors think the stock is valued less than the actual unobservable value.
Question 3: It is possible for a manager to recognize that being socially responsible is not inconsistent with maximizing shareholder value, and that in fact, both can be accomplished. This statement is true.
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