Chapter 12: Applying Excel Data Example E *Use the formulas from Appendix 13B: Present value of $1=1/(1+r) n
n Present value of an annuity of $1=(1/r) ∗
(1−(1/(1+r) ∧
n)) where n is the number of years and r is the discount rate

When a country has a current account surplus of $100m, then the capital account and the balance of payments are also equal to $100m. A country's balance of payments (BOP) is the summary of all financial transactions between a country and the rest of the world over a certain period of time.

It includes all of the country's transactions in the current account, capital account, and financial account. The capital account of a country records all of its capital inflows and outflows, while the current account records its trade in goods and services.

When the current account of a country has a surplus, it means that it has exported more goods and services than it has imported, resulting in a net inflow of foreign currency. This inflow of foreign currency will show up in the capital account of the country as a capital outflow.

This is because the country's residents are buying more foreign assets than they are selling to foreigners. Since there are no changes in the international reserves.

The balance of payments is equal to the current account surplus, which is $100m. Thus, the capital account is equal to -$100m and the balance of payments is equal to $100m.

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The correct answer is option (c) which is a  nonprobability convenience sample in which the researcher selects the easiest population members from which to obtain information.

A non-probability sample is a type of sampling technique that is not reliant on statistical theory. It is defined as a type of sampling in which the researcher selects the most accessible members of the population to gather information from.

The following refers to a nonprobability sample in which the researcher selects the easiest population members from which to obtain information is a convenience sample.

The sampling method that involves researchers gathering data from the most convenient population members is known as a convenience sample. It's also called accidental sampling.

The researchers choose their subjects solely on the basis of their proximity or availability to the researcher, rather than on the basis of a specific method.

Therefore, the correct option is (c).

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Monopolistic competition is a market structure that includes many companies competing for customers' attention. The following are the characteristics of monopolistic competition.

Product differentiation: Each business produces a slightly different version of the same product, which can be labeled, advertised, and packaged differently.Non-price competition: Firms compete based on the quality of their products, customer service, branding, or other non-price factors.Free entry and exit: Firms can freely enter and leave the market as they see fit.

Relatively large number of firms There is a large number of firms in the market, but not as many as in a perfectly competitive market.In terms of the advantages of monopolistic competition to consumers, there are a few. Since businesses differentiate their goods, they compete to provide the best possible quality of goods or services.

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The option A is the correct answer. The QuickBooks report that will give you the comparison of actual figures to those projections in your nonprofit organization is the Budgets vs. Actuals report. QuickBooks is a computer program used for accounting. It was developed and marketed by Intuit.

QuickBooks can be used in either cloud or desktop version for managing and paying bills, accepting business payments, and payroll functions of any small business. It has been designed for small business owners and people with no previous accounting experience. It enables users to do invoicing, tracking sales and expenses, and handling accounting activities. In nonprofit organizations, QuickBooks is an effective tool to manage their finance. QuickBooks can be used to generate donor letters, prepare and file tax returns, manage payroll, create reports, and much more.

QuickBooks reports: Reports are the fundamental tools of QuickBooks. Reports are used to show data in an organized format. QuickBooks provides a wide range of reports for tracking, reconciling, and analyzing data. The reports in QuickBooks help in gaining insight into the business operations of a nonprofit organization. The four types of reports in QuickBooks are: Financial reports, Management reports, Tax reports and Payroll reports. A Budgets vs. Actuals report compares the budgeted amounts to the actual amounts for the period specified in the report.

Budget vs. Actual report in QuickBooks shows the budgeted amounts, actual amounts, and variance between the budget and actual for income and expense accounts. The variance can be used to evaluate financial performance. The Budget vs. Actual report is useful in tracking expenses and making adjustments to the budget. Hence, A. Budgets vs. Actuals report is the QuickBooks report that will give you the comparison of actual figures to those projections in your nonprofit organization.

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Product Life Cycle (PLC) is the sequence of stages that a product passes through from its inception to the time it is withdrawn from the market.

These stages are introduction, growth, maturity, and decline. Companies go through these stages while developing, launching, and selling their products.

In the case of the product in question, we will need to investigate the company's product to determine its current position in the Product Life Cycle (PLC).

The company in question is the Coca-Cola Company, and the product chosen is Coca-Cola. Coca-Cola is a carbonated soft drink.

It was first introduced in the year 1886, and since then, the company has gone through various changes to improve its product offering. Currently, the Coca-Cola brand is in the maturity stage of the Product Life Cycle (PLC).The Coca-Cola product characteristics lead us to believe that it is in the maturity stage.

For example, Coca-Cola is a household name. This indicates that the product has already been established in the market and has a large customer base. In addition, Coca-Cola has a high level of brand awareness, loyalty, and repeat business.

These characteristics indicate that the product is in the maturity stage of the Product Life Cycle (PLC).

There is evidence that the Coca-Cola product is on the verge of moving into the next stage of the life cycle.

The evidence is that the company is currently investing in expanding its product offering. For instance, Coca-Cola is now focusing on producing different flavors of its traditional drink to target new market segments.

By introducing new products, Coca-Cola aims to keep up with the changing consumer trends and expand its customer base.

Therefore, this indicates that Coca-Cola is in the process of moving from maturity to the next stage of the Product Life Cycle (PLC).

In conclusion, Coca-Cola is a product that has undergone various stages in its Product Life Cycle (PLC). Currently, it is in the maturity stage, but it is on the verge of moving to the next stage due to the company's investment in producing new products to target different market segments.

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Functional headings are those that are straightforward and are used to inform the reader what they can expect to find in the report. Talking headings, on the other hand, are more imaginative and work to grab the reader's attention. Combination headings combine aspects of both types.

Let us identify and discuss the report headings and titles as functional, talking, or combination:

a. Guarding Against Online Identity Theft: The title is functional, meaning that it is used to inform readers what to expect in the report. The report may go over what online identity theft is and the actions that can be taken to prevent it.

b. Project Costs: The title is functional since it informs readers what to expect in the report. The report may cover the costs of a specific project and how they were allocated.

c. Disadvantages: The title is functional because it informs readers what to expect in the report. The report may go over the disadvantages of a particular product, service, or idea.

d. Using the Intranet to Convey Employee Benefits: The title is functional because it informs readers what to expect in the report. The report may go over how the intranet can be used to communicate employee benefits.

e. Case Study: America's Most Sustainable College Campuses: The title is a combination of both functional and talking since it informs readers that a case study will be presented in the report while also grabbing the reader's attention.

f. Recommendations: Identifying Non-Compliance Risks: The title is functional because it informs readers what to expect in the report. The report may include recommendations for identifying non-compliance risks.

g. Comparing Costs of AI Recruiting Platforms: The title is functional because it informs readers what to expect in the report. The report may go over the costs associated with various AI recruiting platforms.

h. Budget: The title is functional because it informs readers what to expect in the report. The report may go over the budget for a specific project or company.

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The direct method reports cash receipts and payments directly, while the indirect method adjusts net income for non-cash items and working capital changes.

1. The cash flows from operating activities section of the statement of cash flows for Hawkeye Company using the direct method would involve reporting the cash receipts and cash payments directly related to the company's operations. This includes items such as cash received from customers, cash paid to suppliers and employees, and other operating cash inflows and outflows. By analyzing the changes in relevant balance sheet accounts, such as accounts receivable, accounts payable, and inventory, the direct method provides a more detailed view of the company's operating cash flows.

2. Alternatively, the cash flows from operating activities section of the statement of cash flows for Hawkeye Company can be prepared using the indirect method. This approach starts with net income and adjusts it for non-cash items and changes in working capital accounts to determine the cash generated or used by operating activities. Adjustments may include adding back non-cash expenses like depreciation and amortization, subtracting gains or adding losses from investing or financing activities, and considering changes in current assets and liabilities. The indirect method provides a reconciliation between net income and net cash provided by or used in operating activities.

Both the direct and indirect methods aim to provide insights into the cash flows generated or used by a company's core operations, but they differ in the level of detail and approach to presenting the information.

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The Federal Reserve System (Fed) can use several instruments to control the nation's money supply. The Fed pays an interest rate to commercial banks on their excess reserves to regulate the money supply. The higher the interest rate on excess reserves, the less banks will lend out.

The money supply will decrease. If the Fed wanted to decrease the money supply, it could increase the interest rate paid on excess reserves. The interest rate paid on excess reserves is one of the monetary policy tools utilized by the Federal Reserve (Fed) to control the nation's money supply.

The interest rate on excess reserves is a tool that the Fed can use to raise or lower the interest rates that banks charge to one another to borrow or lend funds. If the Fed increases the interest rate paid on excess reserves, commercial banks are more likely to keep their reserves with the Federal Reserve (Fed).

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The gross profit method is a stock valuation method that uses the gross profit ratio to calculate the estimated inventory for the monthly report. The formula is as follows:Gross profit ratio = (Revenue – Cost of goods sold) / Revenue

To estimate the inventory using the gross profit method, we need to multiply the gross profit ratio by the net sales for the month. The net sales are calculated by subtracting sales returns, sales discounts, and allowances from the gross sales. The formula is as follows:

Net sales = Gross sales – Sales returns – Sales discounts – Allowances

To calculate the estimated inventory at May 31, we need to use the following formula:

Estimated inventory = Cost of goods sold + Markup on cost – Gross profit

We are given that the markup on cost is 25%. We can calculate the cost of goods sold as follows:

Cost of goods sold = Net sales × (100% – Gross profit ratio)

= $450,000 × (100% – 40%) = $270,000

We can calculate the markup on cost as follows:

Markup on cost = Cost of goods sold × Markup percentage

= $270,000 × 25% = $67,500

We can now substitute the values in the formula to calculate the estimated inventory at May 31:

Estimated inventory = Cost of goods sold + Markup on cost – Gross profit

= $270,000 + $67,500 – $180,000 = $157,500

Therefore, the estimated inventory at May 31 is $157,500.

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The right to participate in the management of the company. Common stocks are issued by businesses as a way of raising funds for various purposes. Common shareholders benefit from owning a part of a company's equity, but they don't have a guaranteed return on their investment.

The following is not a basic right of common shares: Right to participate in the management of the company. Explanation: In general, shareholders have a say in how the company is run, including the election of directors and other key decisions. Shareholders also have the right to inspect corporate books and records, vote on major corporate changes, and receive annual reports on the company's financial condition. However, shareholders do not have the right to participate in the management of the company.

That is, they cannot direct the day-to-day operations of the business, nor can they make decisions that affect the company's business strategy or long-term objectives. The right to participate in the management of a company is typically reserved for directors and executives, who are responsible for running the company on a day-to-day basis. Therefore, the correct option is B. The right to participate in the management of the company.

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1. Amortization of intangible assets at December 31, 2019 is given below: Intangible asset Amortization Amount ($)
Computer software and website development technology ($72,000/4 years) $18,000
Patent ($24,000/20 years) $1,200
Trademark No amortization (since it has an indefinite life)
2 a. The expenses related to the three intangible assets should be reported on the income statement for 2019 as follows:Intangible asset Expense Amount ($)
Computer software and website development technology $18,000
Patent $1,200
Trademark No expense (since it has an indefinite life)
2 b. The three intangible assets should be reported on the balance sheet for 2019 as follows: Intangible asset Amount ($)
Computer software and website development technology $54,000 ($72,000 cost - $18,000 accumulated amortization)
Patent $22,800 ($24,000 cost - $1,200 accumulated amortization)
Trademark $32,000

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The cost of preferred stock, rp can be calculated using the following formula:   rp = D / P

Therefore, rp = $5.00 / $63.50 = 0.0787 or 7.87%.

where D is the constant annual dividend paid by the preferred stock,

and P is the issue price per share of the preferred stock.

The constant annual dividend paid by the preferred stock is $5.00 per share. Issuing price per share of the preferred stock is $63.50. Thus, Substitute the above values in the formula to find the cost of preferred stock,

rp = $5.00 / $63.50

rp = 0.0787 or 7.87%

Therefore, the cost of preferred stock is 7.87%

The cost of preferred stock can be calculated using the formula rp = D / P,

where D is the constant annual dividend paid by the preferred stock and

P is the issue price per share of the preferred stock.

In this case, the constant annual dividend paid by the preferred stock is $5.00 per share, and the issuing price per share of the preferred stock is $63.50.

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The gross profit method for estimating inventory may be used for interim reporting. The gross profit method may not be used for year-end reporting. The following is an explanation of the gross profit method for estimating inventory and why it is utilized.

An organization's profit margin is used to estimate its gross profit. This is expressed as a percentage of the cost of sales that can be used to calculate the gross profit for a particular accounting period, such as a month, a quarter, or a year. Gross profit is determined by deducting the cost of goods sold (COGS) from net sales or revenues, resulting in a gross profit margin percentage.

The gross profit method may be used to estimate inventory in certain scenarios. One of the situations is when a company has its inventory stolen, lost, or destroyed. The gross profit percentage is then applied to sales for the current period, and the cost of goods sold is determined. After that, the cost of goods sold is deducted from the sales total to determine the cost of goods that were destroyed, lost, or stolen.

On the other hand, the gross profit method should not be used for year-end reporting because it is not dependable. The gross profit margin may fluctuate from one accounting period to the next for a variety of reasons. As a result, it is not the most accurate technique for determining the cost of inventory and the gross profit margin.

Hence, it is recommended that the company uses other inventory valuation methods like the First-in, first-out (FIFO) method or Weighted Average Cost of Goods Sold method for year-end reporting.

Therefore, the correct option is may; may not.

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I'm glad to help you with your question! The item I'd like to purchase is a laptop. The market in which laptops operate is an oligopoly market.

An oligopoly market is a market structure where only a few companies dominate the market and have the power to affect prices and other market factors.

The products of the companies in an oligopoly market are often similar, making competition intense. Companies in an oligopoly market often use strategies such as price-fixing and product differentiation to maintain their market share and increase their profits.  

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The monthly payment on the loan is $2,098 (rounded to the nearest dollar).

Given that a family decides to purchase their dream home which will cost $350,000. The family will pay 20% as a down payment, and finance the remaining balance with a 15 -year fixed rate mortgage. The mortgage will call for monthly payments at a 4.20% APR. We are supposed to calculate the monthly payment on the loan.

Now, we know that:

Loan Amount = Cost of the House – Down payment

= $350,000 – (20/100)*$350,000

= $350,000 – $70,000

= $280,000

The monthly payments can be calculated using the formula:

Monthly Payment = (Loan Amount * r) / (1 – (1 + r)^(-n))

Where

Loan amount is $280,000

r = monthly interest rate = 4.20%/12

n = total number of months in the loan period = 15 years * 12 months/year= 180 months

Monthly Payment = (Loan Amount * r) / (1 – (1 + r)^(-n))

= ($280,000 * (4.20%/12)) / (1 – (1 + (4.20%/12))^(-180))

= $2,098

Given, the house will cost $350,000. The family will pay 20% as a down payment and finance the remaining balance with a 15-year fixed rate mortgage. The mortgage will call for monthly payments at a 4.20% APR.

The cost of the house is $350,000.

Down payment is 20% of the cost of the house i.e,

Down payment = (20/100) × $350,000= $70,000.

The loan amount, L = Cost of the House - Down payment

= $350,000 - $70,000

= $280,000.

Rate of interest, r = 4.20% per annum, compounded monthly.

The time period, t = 15 years.

Therefore, time period in months, n = 15 × 12 = 180 months.

Monthly payment can be calculated as,

Monthly Payment = (Loan Amount * r) / (1 – (1 + r)^(-n))

= ($280,000 * (4.20%/12)) / (1 – (1 + (4.20%/12))^(-180))

= $2,098 (rounded to the nearest dollar).

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Exchange rate is the price of one currency in terms of another. It measures the relative worth of one currency in comparison to another currency. The exchange rate affects international trade and investment significantly, so it is essential to keep updated about the latest developments of currencies and exchange rates before making any investment.

The three currencies being considered are Japanese Yen, Australian Dollar, and Singapore Dollar. According to the article "The Bank of Japan moves to buy billions of dollars worth of bonds," the Bank of Japan has begun buying billions of dollars worth of bonds. The value of the Japanese yen is likely to decline in response to the expansion of the country's money supply. In addition, the Australian Reserve Bank is considering limiting money supply due to concerns with inflation, according to the article. This means that the value of the Australian dollar is expected to decline. Finally, the article "Favourable business conditions increase Foreign Direct Investment interest in Singapore" indicates that the Singapore dollar will likely appreciate as the country's economy grows.

From the above analysis, it is recommended that the Japanese yen and the Australian dollar should be sold, while the Singapore dollar should be purchased, considering the changes in the currencies' value over time. The graph below shows the currency exchange rates. Note: - As the Japanese Yen and Australian Dollar is expected to decline, it is recommended to sell them. - As the Singapore Dollar is expected to appreciate, it is recommended to purchase it.
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Costs that do not change with activity level are fixed costs. Fixed costs are expenses that remain constant regardless of the volume of production or sales.

Fixed costs are expenses that remain constant regardless of the volume of production or sales. They are not affected by changes in activity levels, such as the number of units produced or sold. Examples of fixed costs include rent, salaries, insurance premiums, and depreciation.

These costs are often incurred to maintain the basic operations and infrastructure of a business, providing a foundation for its activities. Fixed costs are important to consider when analyzing a company's financial performance and determining its breakeven point, as they must be covered by the revenue generated from variable costs and sales to ensure profitability.

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The implied contract caveat to employment at will (EAW) does not mean that employment  cannot fire an employee.

In fact, employment at will means that an employer can terminate an employee at any time, for any reason, as long as it is not illegal or discriminatory. However, there are some exceptions to this general rule. One exception to the employment at will doctrine is the implied contract exception. This exception suggests that an employment contract can be created through implied promises or statements made by the employer, either in an employee handbook, during the hiring process, or through other forms of communication. If an implied contract is found to exist, the employer may be required to follow certain procedures or provide specific reasons before terminating an employee.

However, it's important to note that the implied contract exception is not applicable in all situations, and its interpretation may vary depending on the jurisdiction. Additionally, the specific language used in any written documents, such as an employee handbook, can also impact whether an implied contract is deemed to exist. Therefore, it is crucial for both employers and employees to understand the laws and regulations surrounding employment contracts in their particular jurisdiction.

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Activity cost allocation rate is computed by dividing the total estimated activity cost pool by total estimated activity allocation base. This is a rate used to distribute the indirect costs of activities to cost objects.

Cost allocation rates represent the cost of performing a particular activity for each cost object. The indirect costs of an activity are allocated to cost objects such as products, services, or customers using activity cost allocation rates

. The indirect costs of an activity are allocated to cost objects based on the actual or estimated consumption of the activity by each cost object.

The computation of activity cost allocation rates is important in understanding the cost of performing an activity.

It provides a way to measure the cost of performing an activity for each cost object, which can be used to make decisions about pricing, product mix, and other business decisions.

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Gross Domestic Product (GDP) is the sum of all final goods and services produced within a country during a given period of time. It is an important measure of a country's economy and is calculated by adding together the value of all goods and services produced in a country.

In this context, we have to consider an economy that produces $100,000 of glass. $75,000 of this glass is sold simply as glass sheets for various purposes, but $25,000 of it is used to make windshields included in cars.We know that GDP is the sum of all final goods and services produced within a country during a given period of time. The important term here is final goods. As the $75,000 of glass sheets is used as an intermediate good,

it will not be counted in GDP. However, the $25,000 of glass used to make windshields will be counted in GDP because it is a final good and is not used in further production. Therefore, this glass production would add $25,000 to overall GDP, as the value of the windshields made with this glass is included in the final GDP calculation. Hence, the answer is $25,000.

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The insurance agent did violate the code of ethics while telling the client that he left his previous company because it was badly managed and in danger of going bankrupt.  This act can be classified as defamation and could impact the reputation of the previous company.

A code of ethics is a set of standards of moral conduct for the members of a profession, business, or organization. They are created to establish professional accountability, minimize the risk of financial loss, and increase customer satisfaction. Agents must comply with the code of ethics in order to provide high-quality service to their clients. The agent in this scenario is not following the code of ethics by informing the client about the situation of his previous company, which is already terminated him.

The client may lose confidence in the company, which could result in decreased business for the company. The act of the agent can be categorized as defamation, which is the intentional or unintentional act of making a false statement or implying something negative about a person or entity.  

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Classical theory of motivation claims that employees are motivated by money alone. This theory was popularized by Frederick Winslow Taylor in the early 20th century.

According to this theory, workers are motivated by a financial reward such as a salary or wages.The theory proposes that by giving financial incentives to employees, they would be encouraged to work harder and increase their productivity. This concept is referred to as the “carrot and stick” approach to motivation.

The classical theory of motivation emphasizes that the best way to motivate employees is through monetary rewards. Taylor believed that by paying workers more, the level of productivity would increase, as employees would be motivated to work harder.

The classical theory of motivation has been criticized for its narrow focus on financial rewards. Critics argue that other non-monetary factors such as job satisfaction and personal growth also play a significant role in motivating employees.Therefore, it is essential for management to adopt a more holistic approach to motivation, which takes into consideration both financial and non-financial factors.

This will help create a motivated and engaged workforce, which will lead to higher levels of productivity and performance. The classical theory of motivation is still relevant today, especially in industries that rely heavily on manual labor and low-skilled workers, where financial incentives remain the primary driver of motivation.

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Based on the information given, it should be noted that the collections on sales for the month of June is $117000.

January: 60% of December sales + 30% of November sales + 10% of October sales = 0.6 * 100,000 + 0.3 * 80,000 + 0.1 * 70,000 = $86,000

February: 60% of January sales + 30% of December sales + 10% of November sales = 0.6 * 90,000 + 0.3 * 100,000 + 0.1 * 80,000 = $92,000

March: 60% of February sales + 30% of January sales + 10% of December sales = 0.6 * 95,000 + 0.3 * 90,000 + 0.1 * 100,000 = $93,500

April: 60% of March sales + 30% of February sales + 10% of January sales = 0.6 * 105,000 + 0.3 * 95,000 + 0.1 * 90,000 = $102,000

May: 60% of April sales + 30% of March sales + 10% of February sales = 0.6 * 110,000 + 0.3 * 105,000 + 0.1 * 95,000 = $109,500

June: 60% of May sales + 30% of April sales + 10% of March sales = 0.6 * 115,000 + 0.3 * 110,000 + 0.1 * 105,000

= $117,000

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The Dorfman-Steiner condition, named after economists Ronald Dorfman and Peter Steiner, specifies the degree of substitutability between advertising and the quality of a good or service.

The more substitutable the two are, the greater the demand price elasticity and the lower the optimal amount of advertising. A firm’s demand price elasticity measures the responsiveness of its customers to changes in its prices. When demand price elasticity is low, consumers are less sensitive to price changes, allowing the firm to raise prices without losing customers.

Conversely, when demand price elasticity is high, consumers are more sensitive to price changes, and the firm must lower its prices to remain competitive. The optimal level of advertising is dependent on a variety of factors, including the firm’s size, market share, and product differentiation, as well as the market environment and competition.  

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The symmetry of the payments matrix across states implies that a portfolio with equal quantities of the two securities is a risk-free security.

When we have two states, a "good state" and a "bad state," and only two securities are being exchanged regularly, Stock A and Stock B, we can see that the payments matrix is as follows: The statement that is accurate is that the symmetry of the payments matrix across states indicates that a portfolio with equal quantities of the two securities is a risk-free security.

The columns in this payment matrix are symmetrical, indicating that the market is efficient in the absence of any transaction fees, tax effects, or price anomalies that generate risk-free arbitrage possibilities.

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The false statement among the following options is: Directs purchases are a part of the inventory until they are issued for direct usage in production.

Explanation:

Direct purchase is a kind of purchase where raw materials or any other products are directly purchased from suppliers to be used in the production process.

It is not kept in the inventory until they are used in production or manufacturing. The products which are purchased directly are used in the production process, so they are known as direct purchases.

On the other hand, inventory is a stock of products or items that a company keeps and has not sold yet.

These products are kept in the inventory for further processing or for future sales. So, the statement "Directs purchases are a part of the inventory until they are issued for direct usage in production" is false.

The other three statements are true statements:

a. It is the best practice to verify incoming delivery products against purchase specifications.

b. Intra-unit transfers include food items exchanged between departments of a food operation.

c. To verify the price, the receiving clerk compares the invoice price with the quoted price.

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The expected one-year interest rate three years from now can be calculated using the bootstrapping process.

The bootstrap process is a statistical method for estimating a quantity using a method called resampling.

Bootstrap resamples the data at hand, resulting in a new set of data values that is the same size as the original data.

Bootstrap is a general method that can be used for many different types of problems.

Bootstrapping is particularly useful in finance, where it can be used to estimate the expected one-year interest rate three years from now.

Using this method, we can estimate the expected one-year interest rate three years from now as follows:

We begin by calculating the price of bond C,

which is closest to the three-year expected rate we are trying to estimate.

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Globalization is the process of countries' integration and interaction with the global economy. The opening up of national economies to cross-border trade, investment, and capital flows, and the spread of technology and communication across the world are the primary drivers of globalization.

The globalization of markets and production has been facilitated by the removal of trade and investment barriers. The decline of these barriers has been driven by the global trading system's liberalization through international agreements, the increase in foreign direct investment (FDI), and the role of technological advances. The events that led to the removal of barriers to trade include increased trade, world output, foreign direct investment, and global travel. With globalization, global trade has grown rapidly, with an increase in trade flows of goods and services across borders.

Countries have also experienced a surge in foreign direct investment and other financial capital flows, which have resulted in the creation of global value chains and international production networks. The rise of international trade and FDI has contributed to world output growth, particularly in developing countries that have liberalized their economies to attract foreign investment.

In summary, the removal of trade and investment barriers has taken place in conjunction with increased trade, world output, foreign direct investment, and global travel. These factors have enabled the globalization of markets and production and transformed the global economy.

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The accounts payable at the end of December would be $148,100.

Calculating the cost of goods sold for each month:

November: $305,000 × 80% = $244,000

December: $325,000 × 80% = $260,000

Calculate the ending inventory for each month:

November (for December): $260,000 × 70% = $182,000

Calculate the purchases for each month:

November: Cost of goods sold + Ending merchandise inventory = $244,000 + $182,000 = $426,000

December: Cost of goods sold = $260,000

November purchases are paid in December, so the accounts payable at the end of December would be the remaining amount from November's purchases.

Accounts payable at the end of December = November purchases - Amount already paid in November

Assuming all November purchases are paid within the month of sale (65% collection rate):

Amount already paid in November = November purchases × 65% = $426,000 × 65% = $277,900

Accounts payable at the end of December = November purchases - Amount already paid in November

Accounts payable at the end of December = $426,000 - $277,900 = $148,100

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Horizontal analysis is a technique used to determine the percentage change in individual line items of financial statements over time. This method is also known as trend analysis.

Horizontal analysis is useful for identifying trends in the organization’s financial performance and for comparing financial data across time periods .Horizontal analysis of ABC Computer Manufacturing:

Accounts receivable turnover is a ratio that measures how many times a company's accounts receivable are collected and replaced over a given time period. Accounts receivable turnover is calculated by dividing the net credit sales by the average accounts receivable.

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