The journal gives an opportunity to consider the healthcare economics of two adjoining counties in the Kansas City metropolitan area. The main inputs to health mentioned in this case are high blood pressure, depression, lack of physical exercise, drug and alcohol addiction, obesity, and diabetes.
This case does not mention the importance of a clean environment and access to clean water to stay healthy.
There are some health behaviors that should get priority to improve the health of the people of Wyandotte and Johnson counties, such as, physical exercise and a healthy diet. This will help combat chronic conditions like high blood pressure and diabetes. People should avoid excessive alcohol and drug intake. This would also help in reducing cases of depression and obesity.Income plays a crucial role in improving health. Those who can afford good medical facilities and nutritious food are less likely to suffer from illnesses. Lack of money restricts the ability to avail of medical care and eat healthy food.
Health insurance is significant in improving health. People with health insurance have better access to health facilities. They get more medical attention and regular checkups, which help in early diagnosis and timely treatment.Wyandotte County has relatively few primary care physicians, so the number of primary care physicians should be a priority. A primary care physician acts as the first line of defense and helps in preventing chronic illnesses from becoming severe. The federal government should play a vital role in improving health by providing better medical facilities and resources. This can be achieved by investing in public healthcare, promoting healthy behavior, and offering better medical insurance plans.
If I were a resident of Wyandotte County, my answers would not differ much. It is important to have access to better medical facilities and medical professionals. The government should play a significant role in improving the health of its citizens. Regular health checkups and good healthcare facilities are essential for a healthy life.
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sing the market data approach, determine property value for a seller's 3 bedroom, 2-car garage home. there are two comparable home sales. the first has 4 bedrooms, a 2-car garage and sold for $300,000. the second has 3 bedrooms, a 1-car garage and sold for $285,000. a single garage has an estimated value of $5,000. a single bedroom has an estimated value of $10,000. the value is:
The seller's home has 3 bedrooms and a 2-car garage, we can calculate the value based on the estimated values of a single garage and a single bedroom. The value of the seller's home is $40,000.
To determine the property value for the seller's 3 bedroom, 2-car garage home using the market data approach, we can compare it to the two comparable home sales.
The first comparable home has 4 bedrooms, a 2-car garage, and sold for $300,000.
The second comparable home has 3 bedrooms, a 1-car garage, and sold for $285,000.
A single garage is estimated to have a value of $5,000, and a single bedroom has an estimated value of $10,000.
So, the value of the seller's home would be:
(3 bedrooms * $10,000 per bedroom) + (2-car garage * $5,000 per garage) = $30,000 + $10,000 = $40,000.
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ETHICAL BUSINESS LEADER PAPER
write 2 page (single spaced) paper on an ethical
BUSINESS leader (note the leader must be
business)
NO POLITICIANS, NO RELIGIOUS LEADERS
must be a "Business leader"
Provide a brief history of each leader and discuss
their attributes that make them ethical.
Be sure to properly cite your sources
Mark Parker, CEO of Nike, is an ethical business leader known for his strong moral values, integrity, and focus on sustainability. Nike reduced its carbon footprint by 30% under his leadership.
In the current business world, there are many ethical business leaders who are leading their businesses in an ethical and sustainable way. One such ethical business leader is Mark Parker, CEO of Nike Inc. Mark Parker is a well-known business leader, who joined Nike in 1979 and has been with the company for more than four decades now.Providing a brief history of Mark Parker, he became the CEO of Nike in 2006, succeeding William Perez. During his tenure, he has been able to make the company more sustainable and environmentally friendly, with a focus on ethical and social responsibility. Under his leadership, Nike has been able to reduce its carbon footprint by 30%, which is a significant achievement.Discussing his attributes that make him ethical, Mark Parker is known for his strong moral values, integrity, and ethical behavior. He has been able to create a corporate culture that is based on ethical values, where every employee is treated with respect and dignity. He also encourages innovation and creativity, which has helped Nike to become a leader in the sportswear industry.In conclusion, Mark Parker is an ethical business leader, who has been able to make Nike a more sustainable and ethical company. His strong moral values, integrity, and ethical behavior have helped him to create a corporate culture that is based on ethical values. Nike has been able to reduce its carbon footprint by 30% under his leadership, which is a significant achievement. Proper citation of sources is highly encouraged in all forms of research, writing, and creative production.For more questions on business
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You publish a magazine for calculator collectors. To produce and distribute this magazine, you use a number of inputs: - computers - labor - paper - postage - staplers What is the impact on the market, if the price of paper goes down? Choose one: A. The demand for the magazine shifts to the right, and the supply curve shifts to the left. The equilibrium price rises, but there is an unknown change in the equilibrium quantity. B. The demand for the magazine does not change, and the supply curve shifts to the right. The equilibrium price falls, but the equilibrium quantity rises. C. The demand for the magazine does not change, and the supply curve shifts to the left. The equilibrium price rises, but the equilibrium quantity falls. D. The demand for the magazine shifts to the left, and the supply curve shifts to the right. The cquilibrium price falls. but there is an unknown change in the equilibrium quantity.
The demand for the magazine does not change, and the supply curve shifts to the right. The equilibrium price falls, but the equilibrium quantity rises is the impact on the market, if the price of paper goes down. The answer is OPTION B.
When demand remains constant, a positive change in supply moves the supply curve to the right, resulting in an intersection with lower prices and larger quantity.
A drop in supply, on the other hand, causes the curve to move to the left, causing prices to rise and quantity to decrease. When the economy grows and all other factors remain constant, we may create more, causing the production possibilities curve to shift outward, or to the right. If the economy were to contract, the curve would naturally shift to the left.
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Significant accounting publications are listed below (1-4). Sources or sponsors of accounting publications are identified next by alphabetical character (a-f). Match the publications with their sources. (Publicaciones contables importantes se enumeran a continuación (1-4). Las fuentes o patrocinadores de las publicaciones contables se identifican por los caracteres alfabéticos (a-f). Relaciona las publicaciones con sus fuentes.
Example: 1 d (Ejemplo: 1 c)
Publications (Publicaciones)
1. Journal of Accountancy
2. Accounting Research Bulletins (1953-1959)
3. Accounting Standards Update
4. Opinions (1962-1973)
Sources/Sponsors (Fuentes/Patrocinadores)
a. Financial Accounting Standards Board b. Committee on Accounting Procedure
Accounting Principles Board d. The AICPA
Journal of Accountancy - d. Accounting Research Bulletins (1953-1959) - b. Accounting Standards Update - a. Opinions (1962-1973) - c.
The Journal of Accountancy is a widely recognized accounting publication that covers various topics related to accounting, auditing, taxation, and financial management. It is published by the American Institute of Certified Public Accountants (AICPA), making option 1 correspond to source d.
Accounting Research Bulletins were issued from 1953 to 1959 and were sponsored by the Committee on Accounting Procedure (CAP). The CAP was a predecessor to the Accounting Principles Board (APB), and its purpose was to provide guidance and interpretations on accounting issues. Therefore, option 2 corresponds to source b.
Accounting Standards Update (ASU) is a publication that provides updates and amendments to the Accounting Standards Codification (ASC), which is the authoritative source of U.S. generally accepted accounting principles (GAAP). The ASUs are issued by the Financial Accounting Standards Board (FASB), making option 3 correspond to source a.
Opinions were issued by the Accounting Principles Board (APB) from 1962 to 1973. The APB was responsible for establishing accounting principles and issuing opinions on various accounting matters. Therefore, option 4 corresponds to source c.
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Activity-Based Customer Costing Lavadora Company produces dishwashers for 108 retail outlets. Of the 108 retail outlets, 102 are small, separately owned appliance stores, and six are large retail chains. The six large retailers buy 80% of the dishwashers produced. The 102 smaller customers purchase dishwashers in approximately equal quantities, where the orders are about the same size. Data concerning Lavadora's customer activity are as follows: Large Retailer Smaller Retailers Units purchased 180,000 45,000 Orders placed 60 4,500 Number of sales calls 24 2,448 Manufacturing costs $36,000,000 $9,000,000 Order filling costs allocated" $1,939,200 $448,400 Sales force costs allocated" $960,000 $240,000 *Currently allocated on sales volume (units sold). Currently, customer-driven costs are assigned to customers based on units sold, a unit-level driver. Required: Assign costs to customers by using an ABC approach. Round your answers and all intermediate calculations to the nearest dollar. Order filling rate per order Selling call rate per sales call Cost assignment: Large retailer Smaller retailers 00 00
Cost assignment for Smaller Retailers:- Order Filling Cost: $448,380- Sales Call Cost: $239,827.52
To assign costs to customers using an Activity-Based Costing (ABC) approach, we need to calculate the cost assignment rates for order filling and sales calls.
1. Order Filling Rate per Order:
The total order filling costs allocated for large retailers are $1,939,200, and the number of orders placed by large retailers is 60. Thus, the order filling rate per order for large retailers can be calculated as follows:
Order Filling Rate per Order (Large Retailers) = Total Allocated Costs / Number of Orders
Order Filling Rate per Order (Large Retailers) = $1,939,200 / 60 = $32,320
The total order filling costs allocated for smaller retailers are $448,400, and the number of orders placed by smaller retailers is 4,500. Thus, the order filling rate per order for smaller retailers can be calculated as follows:
Order Filling Rate per Order (Smaller Retailers) = Total Allocated Costs / Number of Orders
Order Filling Rate per Order (Smaller Retailers) = $448,400 / 4,500 = $99.64
2. Selling Call Rate per Sales Call:
The total sales force costs allocated for large retailers are $960,000, and the number of sales calls made to large retailers is 24. Thus, the selling call rate per sales call for large retailers can be calculated as follows:
Selling Call Rate per Sales Call (Large Retailers) = Total Allocated Costs / Number of Sales Calls
Selling Call Rate per Sales Call (Large Retailers) = $960,000 / 24 = $40,000
The total sales force costs allocated for smaller retailers are $240,000, and the number of sales calls made to smaller retailers is 2,448. Thus, the selling call rate per sales call for smaller retailers can be calculated as follows:
Selling Call Rate per Sales Call (Smaller Retailers) = Total Allocated Costs / Number of Sales Calls
Selling Call Rate per Sales Call (Smaller Retailers) = $240,000 / 2,448 = $98.04
Now that we have calculated the cost assignment rates, we can assign costs to customers by multiplying the rates by the respective activity levels:
Cost assignment for Large Retailers:
- Order Filling Cost: $32,320 per order * 60 orders = $1,939,200
- Sales Call Cost: $40,000 per sales call * 24 sales calls = $960,000
Cost assignment for Smaller Retailers:
- Order Filling Cost: $99.64 per order * 4,500 orders = $448,380
- Sales Call Cost: $98.04 per sales call * 2,448 sales calls = $239,827.52
Therefore, the cost assignments using the ABC approach are as follows:
Cost assignment for Large Retailers:
- Order Filling Cost: $1,939,200
- Sales Call Cost: $960,000
Cost assignment for Smaller Retailers:
- Order Filling Cost: $448,380
- Sales Call Cost: $239,827.52
Note: Please note that these calculations are based on the given data and assumptions provided.
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jessica's parents were both bookkeepers, but because computer spreadsheets have replaced bookkeepers, there is little need for this job anymore. jessica now works as a computer systems analyst, which is a better paying and higher status job than her parents' jobs. this is an example of
Based on the information provided, the situation described is an example of job displacement or technological unemployment. Technological advancements, such as the introduction of computer spreadsheets, have rendered the job of bookkeeping less necessary.
Consequently, Jessica's parents, who were bookkeepers, were likely affected by this change.
Jessica, on the other hand, adapted to the changing job market and pursued a career as a computer systems analyst.
This new role offers better pay and higher status compared to her parents' bookkeeping jobs.
This scenario illustrates how technological advancements can lead to shifts in job opportunities and the emergence of new, more lucrative positions.
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What types of jobs could medical information from applicants be important? When is it okay to request medical information (including a medical exam) from job applicants?
Medical information is important for jobs that involve specific health and safety considerations. It is okay to request after a conditional job offer or when the job has specific health requirements.
Medical information from applicants may be important for jobs that involve specific health and safety considerations or when certain medical conditions may directly impact an individual's ability to perform essential job functions. Examples of such jobs include:
Jobs with physical demands: Positions that require strenuous physical activities, such as heavy lifting, working at heights, or operating machinery, may require medical information to ensure that applicants are physically capable of performing the job safely.
Jobs with potential health risks: Certain roles may expose employees to hazardous materials, radiation, or infectious diseases. In these cases, medical information can help assess an applicant's susceptibility to health risks and determine appropriate precautions or accommodations.
It is generally acceptable to request medical information, including a medical exam, from job applicants under the following circumstances:
After a conditional job offer: Once a job offer has been made, an employer may require a medical exam or request medical information, provided it is done uniformly for all applicants in the same job category. This helps ensure that the inquiry is job-related and consistent with business necessity.
When the job has specific health requirements: If the job has essential functions that require certain health criteria to be met, requesting medical information is permissible to assess whether the applicant can perform those functions safely and effectively.
However, it is essential to handle medical information with utmost confidentiality and comply with relevant laws, such as the Americans with Disabilities Act (ADA) in the United States, which prohibits discrimination based on disability and regulates the collection and use of medical information during the hiring process. Additionally, employers should ensure that any medical information obtained is used solely for evaluating job-related qualifications and not for discriminatory purposes.
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Purpose
The purpose of this assignment is to understand the many factors that influence how businesses are funded.
Directions: Complete the discussion for Parts A and B.
Part A-Initial Post
Think about the factors involved in each of the situations below. Solve the problems by applying the concepts in Chapter 18. Where can your firm find financing?
Write a response to only one of the prompts.
Your company needs a new copy machine quickly. The high-volume, multifeatured model you want costs $3,000, but your small business doesn’t have that much cash on hand right now and doesn’t want to borrow at this time.
Your firm has a large payment that needs to be made by next week. The company doesn’t have the cash available at this time. You already have large outstanding loans, so you don’t want to go to the bank. Your stockholders don’t want you to sell more stock because it would dilute their control. You can’t sell bonds by next week. Your inventory is small but your accounts receivable are large. Your firm sells everything on a 30-day open account, and most of your customers pay on time.
You own a dry cleaning store near an apartment complex. The store attracts a growing number of young patrons who find it convenient to drop off their garments on the way back and forth to work. In fact, business is doing so well, your tiny store is starting to feel cramped. Your next-door neighbor, a donut shop, has just offered to sell you his business and real estate for $100,000. You believe that the location and expansion potential are great, but you don’t have the cash at the moment.
Prepare your initial discussion by providing a detailed response with at least three paragraphs. A paragraph consists of 4 to 6 sentences.
Prepare to defend your answer by incorporating at least two citations (MLA or APA format and one citation can be your textbook).
Your company needs a new copy machine quickly, but you lack the cash on hand and don't want to borrow at this time. One option for financing the purchase of the copy machine is through leasing or renting. Leasing allows you to use the equipment for a specified period by making regular payments, similar to renting. This would help you acquire the copy machine without a significant upfront cost (Keown et al., 2019). Another alternative is exploring vendor financing or trade credit, where the copy machine supplier extends credit to your business, allowing you to make payments over time. This can be negotiated based on your business relationship with the supplier (Block et al., 2018).
For the situation where your firm needs to make a large payment but lacks available cash and wants to avoid borrowing from the bank, factoring or invoice financing could be considered. Factoring involves selling your accounts receivable at a discount to a third-party factor who collects payments from your customers, providing you with immediate cash (Block et al., 2018). Invoice financing, on the other hand, involves using accounts receivable as collateral to secure a loan from a lender, enabling you to access funds quickly (Keown et al., 2019).Regarding expanding your dry cleaning store by purchasing the adjacent donut shop, options such as asset-based loans or equipment financing can be explored. Asset-based loans use existing assets like inventory or accounts receivable as collateral to secure a loan, potentially using your large accounts receivable for financing (Keown et al., 2019). Equipment financing involves obtaining a loan specifically for purchasing equipment, where the acquired donut shop and real estate can serve as collateral for the loan (Block et al., 2018).References:
Block, S. B., Hirt, G. A., & Danielsen, B. R. (2018). Foundations of financial management. McGraw-Hill Education.
Keown, A. J., Martin, J. D., & Petty, J. W. (2019). Financial management: Principles and applications. Pearson.
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State two reasons why debt is less risky than ordinary
equity.
One reason why debt is less risky than ordinary equity is that debt holders have priority in receiving payments in case of bankruptcy or liquidation.
When a company faces financial distress, it is obligated to pay its debts before distributing any remaining assets to equity holders. This means that debt holders have a higher chance of recovering at least a portion of their investment compared to equity holders.
Another reason why debt is considered less risky than ordinary equity is that debt contracts often come with predetermined interest rates and repayment schedules. This provides greater certainty for both the borrower and the lender
. Debt holders can rely on regular interest payments and a predetermined timeline for the repayment of the principal amount. In contrast, equity investors do not have a fixed claim on the company's profits or a specific repayment schedule.
Their returns are dependent on the company's performance and the success of its business activities. The predictability and fixed nature of debt payments make it a less risky.
In summary, debt is less risky than ordinary equity due to the priority given to debt holders in case of bankruptcy or liquidation, as well as the predictability of debt payments provided by predetermined interest rates and repayment schedules. These factors reduce the potential downside risk for debt holders and make debt a more secure investment choice.
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Organization Costs S&W Plumbing decided to incorporate and has incurred the following costs of organizing: Incorporation fees Attorneys' fees Promotion expenses Prepare the entry for the payment of these organization costs for cash on January 31. Page: 1 2 3 $ 400 4,400 5,200 DATE ACCOUNT TITLE 20- Jan. 31
The payment of organization costs for cash on January 31 by S&W Plumbing would involve debiting Organization Costs for $10,000 and crediting Cash for $10,000 in the accounting records.
When an organization decides to incorporate, it incurs various costs related to the process. In this case, S&W Plumbing paid $400 in incorporation fees, which typically cover the administrative expenses associated with registering the company as a legal entity.
They also incurred $4,400 in attorneys' fees, which likely involved legal assistance and advice during the incorporation process.
Additionally, S&W Plumbing spent $5,200 on promotion expenses, which could include advertising, marketing, or other activities aimed at promoting the newly incorporated business.
To record the payment of these organization costs for cash on January 31, an accounting entry is required. The organization costs are typically recorded as an intangible asset called "Organization Costs" on the balance sheet.
In this case, the organization costs amount to $10,000 ($400 + $4,400 + $5,200).
Therefore, the entry would involve debiting the Organization Costs account for $10,000, reflecting the increase in the intangible asset.
On the other side of the entry, the Cash account would be credited for the same amount of $10,000, representing the decrease in cash due to the payment made by S&W Plumbing.
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Create a competitor analysis for the company you have chosen. Feel free to use one or more of the analytical models provided in Chapters 3 and 4 of the text. Be sure to provide a narrative to explain the findings from the analysis. This assignment could range between 3 and 6 pages. Be sure to allocate some of the analytical heavy lifting to secondary data from the case and other sources. Apply competitor analysis models from the text to the company you are analyzing. Feel free to use other models from secondary research. Models like the CPM, five forces and comparative competitor analysis Strengths and Weaknesses are typically used. We know from the text that one source of a winning strategy is definitive sources of competitive advantage. A competitor analysis should yield this result. If you can access competitor analysis from analysts' sources like Yahoo Finance or other similar sources, please do. If you have access to a brokerage account research source. Please use that. Be sure to cite all sources.
Competitor analysis is a research method that examines competitors' strengths and weaknesses, how they function, and their market position to create an effective marketing strategy. The use of analytical models and secondary research sources is essential to analyze a company's competitiveness effectively.
We will now examine competitor analysis for Nike, Inc. using three analytical models, which are CPM, Five Forces, and Comparative Competitor Analysis.Model 1: Competitive Profile Matrix (CPM)CPM is a strategic management tool that aids in the identification of a company's relative strengths and weaknesses compared to its competitors. The below table shows the CPM for Nike, Inc. and its two closest rivals, Adidas and Puma.Nike, Inc. scored the highest number of points, indicating that it is in a strong competitive position.
Adidas and Puma are close competitors, with scores of 2.80 and 2.50, respectively. However, this suggests that Nike, Inc. should continue to pursue its present business strategy and maintain its current position in the market. The company's main strengths are its market share and brand recognition, as well as a well-established supply chain and production capability. The company's weaknesses, on the other hand, are a higher price point and a reduced focus on the EMEA region.Model
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copper burgers sells burgers with 0.4 lb meat on each burger. they expected to buy meat a $3.20/lb, but actually ended up paying $2.45/lb. they made 100 burgers this week, and actually used 36 lbs of meat. calculate the direct materials quantity variance. $12.80 favorable $9.80 unfavorable $12.80 unfavorable $9.80 favorable
Therefore, the direct materials quantity variance is $12.80 unfavorable.
The direct materials quantity variance can be calculated by subtracting the standard quantity of materials from the actual quantity used and multiplying it by the standard price per pound.
In this case, the standard quantity is 0.4 lbs per burger and the actual quantity used is 36 lbs for 100 burgers. The standard price per pound is $3.20 and the actual price paid is $2.45.
The standard quantity for 100 burgers would be 0.4 lbs/burger * 100 burgers = 40 lbs.
The direct materials quantity variance can be calculated as follows:
Actual Quantity - Standard Quantity = 36 lbs - 40 lbs = -4 lbs
Since the actual quantity is less than the standard quantity, the variance is unfavorable.
To calculate the dollar value of the variance, we multiply the variance by the standard price per pound:
-4 lbs * $3.20/lb = -$12.80
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The unadjusted trial balance for Gourmet Menus as Information for adjustments is as follows: a. As of December 31, employees had earned $1.500 of unpaid and unrecorded salaries. The next payday is January 4, at which time $1,875 of salaries will be paid. b. The cost of supplies still available at December 31 is $1,600 c. The notes payable requires an interest payment to be made every three months. The amount of unrecorded accrued interest at December 31 is $1,125. The next interest payment, at an amount of $1,350, is due on January 15 d. Analysis of the unearned member fees account shows $1.600 remaining uneamed at December 31 e. In addition to the member fees included in the revenue account balance, the company has earned another $10,800 in unrecorded fees that will be collected on January 31. The company is also expected to collect $11,000 on that same day for new fees earned in January t Depreciation expense for the year is $21,200. Requirement General Journal General Lodger Trial Balance Income Statement St O Equity Balance Sheen General Journal tab-Prepare any necessary adjusting and closing entries for the current facal yea General Ledger tab-Each journal entry is posted automatically to the general ledger. Use the drop-down button to you the unadjusted, adjusted, or post-closing balances Trial Balance tab-You may view the unadjusted, adjusted, or post-closing trial balances by choosing from the dropdown box below Your choice will determine the reported values on the financial statement tabe Income Statement tab-Use the drop-downs to select the accounts properly included on the c The unadjusted, adjusted or post-closing balances will appear for each account, based on your selection statement Statement of Owner's Equity tab-The unadjusted, adjusted or post-desing balances will appear for each account d on your selection Balance Sheet tab- Use the drop-downs to select the accounts properly included on the balance sheet. The unusta adjusted or post-closing balances will appear for each account, based on your selection Post-Closing tab-Use the drop-downs to indicate whether each account is included on the post-desing trial balance General Journal > Hep
General Journal Entries:
a. Salaries Expense 1,500
Salaries Payable 1,500
(To record accrued salaries at December 31)
b. Supplies Expense 1,600
Supplies 1,600
(To adjust the cost of supplies available at December 31)
c. Interest Expense 1,125
Interest Payable 1,125
(To record accrued interest at December 31)
d. Unearned Member Fees 1,600
Member Fees Revenue 1,600
(To adjust the unearned member fees at December 31)
e. Accounts Receivable 10,800
Member Fees Revenue 10,800
(To record additional fees earned in December)
f. Accounts Receivable 11,000
Member Fees Revenue 11,000
(To record fees earned in January)
g. Depreciation Expense 21,200
Accumulated Depreciation 21,200
(To record depreciation expense for the year)
Closing Entries:
h. Income Summary 42,425
Salaries Expense 1,500
Supplies Expense 1,600
Interest Expense 1,125
Depreciation Expense 21,200
Member Fees Revenue 22,000
Income Summary 42,425
(To close out temporary accounts to Income Summary)
i. Income Summary 42,425
Owner's Capital 42,425
(To close Income Summary to Owner's Capital)
j. Owner's Capital 42,425
Retained Earnings 42,425
(To close Owner's Capital to Retained Earnings)
The adjusting entries reflect the recognition of accrued salaries, adjustment for supplies on hand, accrual of interest expense, adjustment of unearned member fees, recognition of additional fees earned, and depreciation expense. The closing entries transfer the balances of temporary accounts (revenue, expense, and income summary) to the permanent accounts (Owner's Capital and Retained Earnings) to prepare for the next accounting period.
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Derek will deposit $9,149.00 per year for 26.00 years into an account that earns 7.00%, The first deposit is made next year. How much will be in the account 34.00 years from today? Attempts Remaining: Infinity Answer format: Currency: Round to: 2 decimal places.
The amount in the account 34 years from today will be approximately $400,292.07.
To calculate the amount that will be in the account 34 years from today, we need to calculate the future value of the annual deposits.
Given:
Annual deposit = $9,149.00
Number of years = 26
Interest rate = 7%
Since the first deposit is made next year, we will calculate the future value of the deposits over 25 years (from year 2 to year 26), and then add the future value of the last deposit made in year 27 (at the end of the 26th year).
We can use the formula for the future value of an ordinary annuity:
FV = P * ((1 + r)^n - 1) / r
Where:
FV = Future value of the annuity (amount in the account)
P = Annual deposit
r = Interest rate per period (annual interest rate divided by the number of periods)
n = Total number of periods
First, let's calculate the interest rate per period:
Interest rate per period = 7% / 100 = 0.07
Next, we calculate the future value of the annual deposits from year 2 to year 26:
Future value of annuity = $9,149.00 * ((1 + 0.07)^26 - 1) / 0.07
Future value of annuity ≈ $390,486.64
Now, we need to calculate the future investment value of the last deposit made in year 27:
Future value of last deposit = $9,149.00 * (1 + 0.07)^1
Future value of last deposit ≈ $9,805.43
Finally, we add the future value of the annuity and the future value of the last deposit to find the total amount in the account 34 years from today:
Total amount = Future value of annuity + Future value of last deposit
Total amount ≈ $390,486.64 + $9,805.43
Total amount ≈ $400,292.07
Therefore, the amount in the account 34 years from today will be approximately $400,292.07.
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For the year, Movers United has oet income of 531,800 , net sew equity of $7,500, and an additioa to retained eamings of 524,200 . What is the amount of the dividends paici? A) 516,700 B) $7,600 C) 57,500 D) $15,100 E) $100 26) Micro, Incorporated, started tbe yes with net fivol assets of 574,300 . At the end of the year, there was $95,300 in the same account, and the coopany's income statement showed depreciation expense of $12,510 for the yeur. What was the company's pet capital spending for the year? A) 533,510 B) $41,405 C) $21,000 D) 538,995 E) $82,790 27) Mario's Home Syitems has sales of 52,750 , cots of goods sold of $2,090, inventory of \$490, and accounts receivable of $423. How masy days, on average, does it take Mario's to sell its inveatory? Assume a 365-day year. A) 85.57 days B) 65.04 days C) 84.40 days D) 56.14 days E) 73.87 days
1. For Movers United, the amount of dividends paid can be calculated by subtracting the additional retained earnings from the net income. The correct answer is A) $516,700.
2. To calculate Micro, Incorporated's net capital spending for the year, we need to find the change in net fixed assets by subtracting the ending net fixed assets from the beginning net fixed assets and adding the depreciation expense. The correct answer is D) $538,995.
3. To determine the number of days it takes Mario's Home Systems to sell its inventory on average, we can use the inventory turnover ratio formula. The correct answer is C) 84.40 days.
1. The dividends paid can be calculated as the difference between the net income and the additional retained earnings:
Dividends Paid = Net Income - Additional Retained Earnings
Dividends Paid = $531,800 - $524,200
Dividends Paid = $7,600
Therefore, the correct answer is A) $7,600.
2. The net capital spending for Micro, Incorporated can be calculated by subtracting the ending net fixed assets from the beginning net fixed assets and adding the depreciation expense:
Net Capital Spending = (Ending Net Fixed Assets - Beginning Net Fixed Assets) + Depreciation Expense
Net Capital Spending = ($95,300 - $74,300) + $12,510
Net Capital Spending = $538,995
Thus, the correct answer is D) $538,995.
3. The average number of days it takes to sell the inventory can be calculated using the inventory turnover ratio:
Inventory Turnover = Cost of Goods Sold / Average Inventory
Average Inventory = (Beginning Inventory + Ending Inventory) / 2
Average Inventory = ($490 + $423) / 2
Average Inventory = $456.50
Inventory Turnover = $2,090 / $456.50
Inventory Turnover = 4.58
Days to Sell Inventory = 365 days / Inventory Turnover
Days to Sell Inventory = 365 days / 4.58
Days to Sell Inventory ≈ 84.40 days
Hence, the correct answer is C) 84.40 days.
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the selling team from a. c. doyle food service is planning a negotiation session with new bedford college. the team is hoping to acquire the contract to supply food to the college for the next academic year for $1.4 million. at the beginning of the session, doyle's chief negotiator plans to quote $1.65 million, but later decides that they would accept the contract for any amount above $1.3 million. considering the chief negotiator's decision, $1.65 million is doyle's:group of answer choicesminimum position.opening position.fixed position.average position.target position.
The term that best describes Doyle's initial quote of $1.65 million is the "opening position."
In negotiations, the opening position refers to the initial offer or proposal presented by one party to the other. It sets the starting point for the negotiation process and serves as a reference for further discussion and potential agreement.
In this scenario, Doyle's chief negotiator plans to quote $1.65 million at the beginning of the negotiation session with New Bedford College. The $1.65 million figure represents the initial offer or opening position that Doyle's team presents to the college. It signifies the price they initially hope to achieve for the contract to supply food for the next academic year.
However, it's important to note that the chief negotiator later decides that they would accept the contract for any amount above $1.3 million. This indicates that their target position, or the ideal outcome they aim to achieve, is between $1.3 million and $1.65 million. Nonetheless, the initial quote of $1.65 million reflects Doyle's opening position in the negotiation.
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Please fully answer to part A and B.
A) Explain scaling process in research. B) Name and explain 5
types of scaling with an example for each item.
These are five common types of scaling used in research. Each type has its own characteristics and is suitable for different research scenarios,
depending on the nature of the variables being measured and the research objectives.
A) Scaling Process in Research:
Scaling refers to the process of assigning numbers or other symbols to objects or concepts to represent the specific properties or attributes of those objects or concepts.
It helps researchers quantify and measure variables for the purpose of data collection and analysis. Scaling allows researchers to convert qualitative or abstract concepts into quantitative data, making them easier to analyze statistically.
The scaling process involves selecting a suitable scaling method and applying it consistently across the study.
B) Types of Scaling and Examples:
1. Nominal Scaling:
Nominal scaling involves categorizing or classifying objects into distinct groups or categories based on specific attributes or characteristics. Each category is assigned a unique label or number. However, there is no inherent order or numerical significance in the assigned values.
Example: Classifying people into different hair colors (blonde, brunette, redhead) or blood types (A, B, AB, O) would be nominal scaling. The assigned labels or numbers have no inherent ranking or quantitative significance.
2. Ordinal Scaling:
Ordinal scaling arranges objects or concepts in a specific order or hierarchy based on their relative attributes or qualities. The assigned values have both a unique label or number and an inherent rank or order.
Example: Rating customer satisfaction on a scale of 1 to 5 (1 = Very Dissatisfied, 5 = Very Satisfied) would be an example of ordinal scaling. The assigned numbers indicate the satisfaction levels, and there is an inherent order from the least to the most satisfied.
3. Interval Scaling:
Interval scaling assigns values to objects or concepts such that the differences between the values are meaningful and consistent. However, interval scaling lacks a true zero point and does not imply a ratio relationship.
Example: Temperature measured in degrees Celsius or Fahrenheit is an example of interval scaling. The difference between 20°C and 30°C is the same as the difference between 30°C and 40°C, but zero degrees does not represent the complete absence of temperature.
4. Ratio Scaling:
Ratio scaling has all the properties of interval scaling along with a true zero point, which represents the absence of the measured attribute. It allows for meaningful ratios and comparisons between values.
Example: Measuring weight in kilograms or pounds is an example of ratio scaling. A weight of 0 kg or 0 lbs represents the absence of weight, and ratios such as 2:1 or 3:1 accurately represent the weight comparison.
5. Likert Scaling:
Likert scaling measures respondents' attitudes or opinions on a multi-point scale, typically ranging from strongly agree to strongly disagree or from very satisfied to very dissatisfied. It is often used in surveys and questionnaires to increment capture subjective responses.
Example: Asking respondents to rate their agreement with a statement on a scale of 1 to 7, where 1 represents strongly disagree and 7 represents strongly agree, is an example of Likert scaling. The assigned numbers capture the degree of agreement or disagreement.
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Suppose pickles have the following demand equation: Qb=3200−4.2P+2Ps−Pt+0.1Y Where Q0 is the quantity demanded of pickles, P is the price per plckle, P2 is the price of sausages, P is the price of tomatoes, and Y is a measure of the consumer income. According to this demand equation, we can say that (circle the correct answer for each): 9. Pickles are: Normal Goods/Inferior Goods 10. In relation to pickles, Sausages are: Substitutes/Complements 11. An increase in Pr will shift the demánd curve: Leftwards/Rightwards 12. The demand curve for a good is Q=1500−5p. At a price of p=100, find the price elasticity of demand:
The price elasticity of demand at a price of p = 100 is undefined because the percentage change in price (%ΔP) is zero.
9. Pickles are: Normal Goods
In the given demand equation, the coefficient of Y (consumer income) is positive (0.1). This indicates that as consumer income (Y) increases, the quantity demanded of pickles (Qb) also increases. In the context of demand theory, this implies that pickles are a normal good. As consumers' income rises, they are willing and able to purchase more pickles.
10. In relation to pickles, Sausages are: Complements
The coefficient of P2 (price of sausages) in the demand equation is positive (2). This indicates that as the price of sausages increases, the quantity demanded of pickles also increases. In this case, pickles and sausages are considered complementary goods. When the price of sausages goes up, consumers tend to substitute them with pickles, leading to an increase in the demand for pickles.
11. An increase in Pt will shift the demand curve: Leftwards
In the given demand equation, the coefficient of Pt (price of tomatoes) is negative (-1). This indicates that as the price of tomatoes increases, the quantity demanded of pickles decreases. Therefore, an increase in the price of tomatoes will shift the demand curve for pickles to the left. This means that at any given price level, consumers would demand a lower quantity of pickles.
12. The demand curve for a good is Q = 1500 - 5p. At a price of p = 100, find the price elasticity of demand.
To calculate the price elasticity of demand at a specific price point, we can use the formula:
E = (%ΔQd) / (%ΔP)
Where E represents the price elasticity of demand, %ΔQd represents the percentage change in quantity demanded, and %ΔP represents the percentage change in price.
Using the given demand equation Q = 1500 - 5p, we can find the derivative of Q with respect to p, which represents the rate of change of quantity demanded with respect to price:
dQ/dp = -5
At a price of p = 100, we can substitute this value into the derivative:
dQ/dp = -5
Next, we calculate the percentage change in quantity demanded and price:
%ΔQd = (dQ/dp) / Q = (-5) / (1500 - 5p) = (-5) / (1500 - 5(100)) = -5 / 1000 = -0.005
%ΔP = (ΔP / P) = (100 - 100) / 100 = 0
Substituting these values into the price elasticity formula:
E = (%ΔQd) / (%ΔP) = (-0.005) / 0 = Undefined
This indicates that the quantity demanded is completely unresponsive to changes in price at this specific price level.
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Suppose there is a newsstand which sells two types of newspapers: newspaper 1 and newspaper 2 . Newspaper 1 has cost 1 cent, price 1.1 cents, and salvage value 0 . Newspaper 2 has cost 1 cent, price 4 cents, and salvage value 0 . The demands for the two newspapers are indedendent and are shown in the followina table. . If the newsstand has capacity for only 4 units of newspapers (i.e., the total number of newspaper 1 and newspaper 2 should be no more than 4), how many units of newspaper 1 and how many units of newspaper 2 should be ordered to maximize the expected total profit? (Please show your calculation.
The optimal order to maximize the expected total profit is to order 0 units of newspaper 1 and 4 units of newspaper 2, resulting in an expected total profit of 0.12 cents.
To calculate the optimal number of units for newspaper 1 and newspaper 2 that should be ordered to maximize the expected total profit, we can use the concept of capacity constraint and consider the demands for the two newspapers as independent.
Let's assume x units of newspaper 1 and y units of newspaper 2 are ordered. The total cost can be calculated as follows:
Total Cost = (Cost of newspaper 1 * x) + (Cost of newspaper 2 * y)
The total revenue can be calculated as follows:
Total Revenue = (Price of newspaper 1 * x) + (Price of newspaper 2 * y)
To calculate the expected total profit, we need to subtract the total cost from the total revenue:
Expected Total Profit = Total Revenue - Total Cost
Given that the capacity constraint is 4 units in total, we have the following constraint:
x + y ≤ 4
To find the optimal solution, we need to maximize the expected total profit by considering all possible combinations of x and y that satisfy the capacity constraint.
Now, let's calculate the expected total profit for each possible combination of x and y:
For (x, y) = (0, 4):
Total Cost = (0.01 * 0) + (0.01 * 4) = 0.04
Total Revenue = (0.011 * 0) + (0.04 * 4) = 0.16
Expected Total Profit = Total Revenue - Total Cost = 0.16 - 0.04 = 0.12
For (x, y) = (1, 3):
Total Cost = (0.01 * 1) + (0.01 * 3) = 0.04
Total Revenue = (0.011 * 1) + (0.04 * 3) = 0.123
Expected Total Profit = Total Revenue - Total Cost = 0.123 - 0.04 = 0.083
For (x, y) = (2, 2):
Total Cost = (0.01 * 2) + (0.01 * 2) = 0.04
Total Revenue = (0.011 * 2) + (0.04 * 2) = 0.082
Expected Total Profit = Total Revenue - Total Cost = 0.082 - 0.04 = 0.042
For (x, y) = (3, 1):
Total Cost = (0.01 * 3) + (0.01 * 1) = 0.04
Total Revenue = (0.011 * 3) + (0.04 * 1) = 0.053
Expected Total Profit = Total Revenue - Total Cost = 0.053 - 0.04 = 0.013
For (x, y) = (4, 0):
Total Cost = (0.01 * 4) + (0.01 * 0) = 0.04
Total Revenue = (0.011 * 4) + (0.04 * 0) = 0.044
Expected Total Profit = Total Revenue - Total Cost = 0.044 - 0.04 = 0.004
From the calculations, we can see that the combination (x, y) = (0, 4) yields the highest expected total profit of 0.12. Therefore, the optimal number of units for newspaper 1 and newspaper 2 that should be ordered to maximize the expected total profit is 0 units of newspaper 1 and 4 units of newspaper 2.
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A property has a market value of $500,000 in a jurisdiction that assesses a millage of 20 mills on 30% of a property's market value and permits an exemption of $4,000 for this type of property. Calculate the property tax for this property. Please DO NOT include a dollar sign (\$) with your answer!
The property has a market value of $500,000 and is subject to a millage rate of 20 mills. The jurisdiction allows for a $4,000 exemption. The task is to calculate the property tax for this property.
To calculate the property tax, we need to consider the assessed value of the property, which is determined by applying the millage rate and the exemption. First, we need to calculate the assessed value of the property. The assessed value is equal to 30% of the property's market value, minus any applicable exemptions. In this case, the assessed value can be calculated as follows:
Assessed Value = (Market Value) * (Assessment Rate) - (Exemption)
Assessed Value = $500,000 * 0.30 - $4,000
Assessed Value = $150,000 - $4,000
Assessed Value = $146,000
Next, we can calculate the property tax by multiplying the assessed value by the millage rate. The millage rate is expressed in mills, where one mill is equal to one-tenth of a cent. In this case, the property tax can be calculated as follows:
Property Tax = (Assessed Value) * (Millage Rate)
Property Tax = $146,000 * 0.020 (20 mills expressed as a decimal)
Property Tax = $2,920
Therefore, the property tax for this property is $2,920.
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the onyx company negotiated intensely for months to hire robert conyers as its new chief executive officer (ceo). attorneys for both the company and mr. conyers were now working on the final employment contract, and it was especially important to the onyx company to keep their new ceo for at least 10 years. because mr. conyers had exceptional skills and considerable experience related directly to the company's industry, it was important for the contract to include an atypical retention clause in the event of a merger with another entity. if onyx's attorney was concerned about enforceability of the retention segment, what could they add to the contract to safeguard the rest of the provisions?
To safeguard the rest of the provisions in the contract, Onyx's attorney could add a severability clause.
A severability clause states that if any provision of the contract is found to be unenforceable, it will not affect the validity and enforceability of the remaining provisions.
By including this clause, Onyx ensures that if the retention segment is deemed unenforceable, the rest of the contract will still be valid and enforceable.
This protects the company's interests and ensures that the other terms and provisions negotiated during the intense months-long negotiation process will remain in effect.
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9 What is the discount rate required for you to have $215,000 in 5 years if you have $40,000 today? Use the editor to format your answer
To have $215,000 in 5 years, with $40,000 today, a discount rate of approximately 12.41% is required.
The discount rate is the rate of return or interest rate used to calculate the present value of future cash flows. In this case, we need to determine the discount rate that would yield a present value of $40,000 growing to $215,000 over 5 years.
Using the formula for compound interest and solving for the discount rate, we can calculate it as follows:
Present Value = Future Value / (1 + Discount Rate)^n
$40,000 = $215,000 / (1 + Discount Rate)^5
Rearranging the equation, we get:
(1 + Discount Rate)^5 = $215,000 / $40,000
Taking the fifth root of both sides, we have:
1 + Discount Rate = (215,000 / 40,000)^(1/5)
Simplifying, we find:
1 + Discount Rate ≈ 1.1241
Discount Rate ≈ 1.1241 - 1
Discount Rate ≈ 0.1241
Discount Rate ≈ 12.41%
Therefore, a discount rate of approximately 12.41% is required to accumulate $215,000 in 5 years, starting with $40,000 today.
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You have determined that for Bennett's Babbling Bicycles, Co., the Free Cash Flow to Equity at the end of this fiscal year will be $14100, and that is expected to grow at 1.6%. You have also calculated that the cost of equity is 11.24%, the WACC is 7.98%, the Market return is 19.60%, and the risk-free rate is 2.97%. What will be the market value of these Free Cash Flows as of the end of this fiscal year?
Select one:
a.
$79586
b.
$482343
c.
$224539
d.
$114096
e.
$186572
f.
$148605
g.
insufficient information to determine
Insufficient information to determine. The market value of the Free Cash Flows (FCF) at the end of the fiscal year.
FCF at the end of the fiscal year = $14,100
Growth rate = 1.6%
Cost of Equity = 11.24%
WACC (Weighted Average Cost of Capital) = 7.98%
Market return = 19.60%
Risk-free rate = 2.97%
To calculate the market value of the FCF, we can use the Gordon Growth Model, also known as the Dividend Discount Model (DDM):
Market Value = FCF / (Cost of Equity - Growth Rate)
Substituting the given values into the formula:
Market Value = $14,100 / (0.1124 - 0.016)
Market Value = $14,100 / 0.0964
Market Value ≈ $146,092.80
The market value of the FCF at the end of this fiscal year is approximately $146,092.80.
However, none of the provided answer options match this value. Therefore, it seems that the given answer options are not accurate or complete. It is possible that there may be additional information or calculations required to determine the correct answer.
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the difference between nominal gdp and real gdp is; question 4 options: a) nominal gdp measures actual productivity b) real gdp excludes imports and exports c) real gdp adjusts for inflation d) nominal gdp adjusts for inflation
The correct answer is option c) real GDP adjusts for inflation. Nominal GDP refers to the total value of all final goods and services produced in an economy during a specific period, without adjusting for inflation.
On the other hand, real GDP adjusts for inflation by using constant prices, allowing for a more accurate representation of economic growth over time. Real GDP takes into account changes in price levels and calculates the value of output based on a specific base year.
By adjusting for inflation, real GDP provides a more meaningful measure of economic output, as it removes the impact of price changes and allows for a better comparison of economic performance across different time periods.
To calculate real GDP, the nominal GDP is adjusted using a price index, such as the consumer price index (CPI) or the GDP deflator, which reflects changes in the overall price level. This adjustment accounts for changes in purchasing power and provides a more accurate measure of economic growth or contraction.
In summary, while nominal GDP measures actual productivity in terms of current market prices, real GDP adjusts for inflation and provides a more accurate representation of economic output over time.
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As the Director of HR, David is leading a management discussion to plan and implement a diversity management program. David is concerned that management, while tolerant, tends to stereotype minorities and this will eventually lead to difficulties for the firm. The company's top three markets are in Los Angeles, Chicago, and Miami. All three markets are heavily Latino in make-up. The senior management team is all male. The youngest member is 58 years of age.
Martinez, the VP of Operations, feels that people should blend together and that focusing on differences merely creates divisions. He thinks that you should have a common training program to create a unified "American" company culture. Patrick, VP of Finance, doesn't see the need for a program. He respects that people are different, but he feels that once you get to know a Hispanic, African-American, or Asian-American, you know how to work with any Hispanic, African-American, or Asian-American. Moreover, Patrick doesn't believe the company should get into affirmative action programs. The firm tried it ten years ago, and it created many problems.
Simon, the CEO, thinks a diversity management program is important. He believes the company is missing some important talent without such a program. Simon feels that the company can create a competitive advantage by being in the lead on this issue and also believes the changing workforce is going to require adjustments in the future.
What should be the firm's first step in improving diversity management?
Select one:
a.
Forming a commitment from top management to value diversity
b.
Initiating senior mentoring programs
c.
Implementing flextime and job share programs
d.
Developing communication standards
Answer: A: Forming a commitment from top management to value diversity
Explanation:
The reason for this is that change in an organization, particularly something as important as a diversity initiative, needs to begin at the top. The attitudes and behaviors of top management set the tone for the entire company. Without their buy-in and support, any diversity initiative is likely to fail.
While the other options are important elements of a comprehensive diversity program, they won't be effective without the foundation of support from top management. Once this commitment is in place, other initiatives such as mentoring programs, flexible work arrangements, and communication standards can be implemented more effectively.
The net income reported in the company's income statement is equal to the cash received as a result of the company's operations. a. true) b. false) . The budget that summarizes future plans for the acquisition of fixed assets is the: a. purchases budget b. production budget c. sales budget d. capital expenditures
net income and cash received from operations are not equivalent, and the capital expenditures budget is the appropriate budget for forecasting and managing investments in fixed assets.
I apologize for the brevity of the previous response. Here's an expanded version:
The statement "The net income reported in the company's income statement is equal to the cash received as a result of the company's operations" is false. Net income represents the company's profit after deducting all expenses from its total revenue. It takes into account non-cash items such as depreciation, amortization, and accruals. Cash received from operations, on the other hand, refers to the actual cash inflows resulting from the company's day-to-day activities.
The budget that summarizes future plans for the acquisition of fixed assets is the capital expenditures budget. This budget outlines the company's projected investments in long-term assets, such as property, plant, and equipment. It considers factors like asset replacement, expansion, and strategic initiatives. The capital expenditures budget helps the company plan and allocate funds for acquiring, maintaining, and improving its fixed assets to support its long-term growth and operational requirements.
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Sunland Products, a rapidly growing distributor of home gardening equipment, is formulating its plans for the coming year. Joseph Moore, the firm's marketing director, has completed the following sales forecast. Month Sales Month Sales January $920,000 July $1,170,000 February $1,020,000 August $1,500,000 March $920.000 September $1,600,000 April $1,120,000 October $1,600,000 May $870,000 November $1,500,000 June $970,000 December $1,700,000 Charles Wilson, an accountant in the Planning and Budgeting Department, is responsible for preparing the cash flow projection. He has gathered the following information. • All sales are made on credit. • Sunland's excellent record in accounts receivable collection is expected to continue, with 30% of billings collected in the month of sale, 60% of billings collected in the month after sale and the remaining 10% collected two months after the sale. . Cost of goods sold, Sunland's largest expense, is estimated to equal 45% of sales dollars. Forty percent of inventory is purchased one month prior to sale and 60% during the month of sale. For example, in April, 60% of April cost of goods sold is purchased and 40% of May cost of goods sold is purchased. D All purchases are made on account. Historically, 75% of accounts payable have been paid during the month of purchase, and the remaining 25% in the month following purchase. • Hourly wages and fringe benefits, estimated at 30% of the current month's sales, are paid in the month incurred. General and administrative expenses are projected to be $1,473,000 for the year. A breakdown of the expenses follows. All expenditures are paid monthly throughout the year, with the exception of property taxes, which are paid in four equal installments at the end of each quarter. Salaries and fringe benefits $ 318,000 Advertising 381,000 Property taxes. 80,000 Insurance 192,000 Utilities 156,000 Depreciation 346,000 Total. $ 1,473,000 • Operating income for the first quarter of the coming year is projected to be $320,000. Sunland is subject to a 40% tax rate. The company pays 100% of its estimated taxes in the month following the end of each quarter. Sunland maintains a minimum cash balance of $50,000. If the cash balance is less than $50,000 at the end of the month, the Prepare the cash receipts budget for the second quarter. (Enter answers in necessary fields only. Leave other fields blank. Do not enter 0.) Cash Receipts Budget April May June Total Cash Receipts 102000 102000 552000 92000 644000 336000 672000 1120000 261000 783000 291000 990000 1025000 2940000 Accounts Receivable balance at the end of second quarter. $ 112000 522000 291000 925000 766000 Prepare the purchases budget for the second quarter. (Round answers to O decimal places, e.g. 5,275. Enter answers in necessary fields only. Leave other fields blank. Do not enter O.) Purchases Budget April May June Total Purchase April $ COGS May COGS June COGS July COGS Totals $ Touthool 4 Modin S
The total purchases for the second quarter is $1,008,000 + $832,500 + $864,000 = $2,704,500.
The cash receipts budget for the second quarter is shown below: Cash Receipts Budget April May June Total Cash Receipts $1,020,000$870,000$970,000$2,860,000 There are a few notes to keep in mind when calculating the cash receipts budget.
It's important to keep in mind that all sales are made on credit, which means that the cash receipts budget is based on anticipated collections from those sales.
According to Sunland's excellent record in accounts receivable collection, 30% of billings are collected in the month of the sale, 60% of billings are collected in the month after the sale, and the remaining 10% are collected two months after the sale.
The following is the calculation of the purchases budget for the second quarter: April May June Total Purchases 1,008,000832,500864,0002,704,500 Please see the detailed calculation in step-by-step process below: April: 60% of April cost of goods sold is purchased, while 40% of May cost of goods sold is purchased.
April's cost of goods sold is equal to $1,120,000 x 45%
= $504,000, and May's cost of goods sold is $870,000 x 45%
= $391,500.
Hence, April's purchases equal to $504,000 x 60%
= $302,400, and May's purchases equal to $391,500 x 40%
= $156,600.
Therefore, purchases for April are $302,400 + $705,600 = $1,008,000.May: 60% of May cost of goods sold is purchased, while 40% of June cost of goods sold is purchased.
May's cost of goods sold is equal to $870,000 x 45%
= $391,500, and June's cost of goods sold is equal to $970,000 x 45%
= $436,500.
Hence, May's purchases equal to $391,500 x 60%
= $234,900, and June's purchases equal to $436,500 x 40%
= $174,600.
Therefore, purchases for May are $234,900 + $597,000
= $832,500.
June: 100% of June cost of goods sold is purchased.
June's cost of goods sold is equal to $970,000 x 45%
= $436,500.
Therefore, June's purchases equal to $436,500, which is equal to the total purchases for June.
Therefore, the total purchases for the second quarter is $1,008,000 + $832,500 + $864,000
= $2,704,500.
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Kim works at a sports store and needs to determine the selling price for running shoes. The running shoes have a cost of $200. The manager asked Kim to price the running shoes with a 60% target gross margin. Kim has priced the running shoes with a 60% markup percentage.
Required:
1. What selling price does the manager want?
2. What selling price has Kim calculated?
3. If there are 34 running shoes, how much will the store lose in sales if the price is not corrected?
The selling price that the manager wants is $320.2.
Kim works at a sports store and needs to determine the selling price for running shoes. The running shoes cost $200.
The manager asked Kim to price the running shoes with a 60% target gross margin. Kim has priced the running shoes with a 60% markup percentage.
Required:1. What selling price does the manager want? 2. What selling price has Kim calculated?
3. If there are 34 running shoes, how much will the store lose in sales if the price is not corrected?
1. Calculation for the selling price that the manager wants: The cost of the running shoes is $200. The target gross margin is 60%.
The formula for calculating the selling price is: Selling price = cost + (markup percentage * cost)Selling price = $200 + (60% * $200)Selling price = $200 + $120Selling price = $320
The calculation for the selling price that Kim has calculated: The cost of the running shoes is $200. Kim has priced the running shoes with a 60% markup percentage.
The formula for calculating the selling price is: Selling price = cost + (markup percentage * cost) Selling price = $200 + (60% * $200) Selling price = $200 + $120 Selling price = $320
Therefore, the selling price that Kim has calculated is $320.3. The calculation for the number of sales the store will lose if the price is not corrected:
The selling price that the manager wants is $320, but Kim has priced the running shoes at $200 + $120 = $320. If the price is not corrected, the store will lose $320 - $280 = $40 on each sale.
The total amount of sales the store will lose is 34 * $40 = $1,360.
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in a consumption-oriented society, such as that of the united states, the core value of often means the acceptance of change, new products, or services designed to fulfill unsatisfied needs. question 5 options: a) material comfort b) progress c) achievement and success d) freedom e) activity
The opition b is correct. In a consumption-oriented society like the United States, the core value of progress often means the acceptance of change, new products, or services designed to fulfill unsatisfied needs.
Progress in this context refers to the continuous improvement and advancement of technology, innovation, and consumer goods.
It emphasizes the idea of moving forward and embracing new ideas and developments.
This core value encourages individuals to seek out and adopt new products and services that enhance their material comfort, achieve their goals, and contribute to their overall achievement and success.
It also promotes the freedom to explore and engage in various activities that can further enhance their lifestyles and well-being.
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Suppose an economy is depicted by the expenditure function provided below C+G+1+X= $200+0.90xY+ $550+$225+ $75 All figures are in billions of dollars. Assume there are no taxes in this nation so disposable income Y = Y. The economy reaches an equilibrium at $ billion. (Enter your answer as a whole number)
The equilibrium output of the economy is, $Y = $10500 + 10(-$25)$Y = $10250 billion.
The given expenditure function for an economy is C+G+I+X= $200+0.90xY+ $550+$225+ $75.
Substituting the given values in the equation, C+G+I+X = $1050+0.90Y. The equation of aggregate expenditure gives us, AE = C+I+G+NX.
Here, NX denotes net exports. Substituting the given values, AE = C+I+G+X-M, where M denotes imports.
Here, we have to assume that there are no taxes in this nation so disposable income Y = Y.
Hence, saving is given by S = Y - C. So, AE = C+S+T+NX, where T denotes taxes.
Substituting the values, AE = Y + NX.
Here, we can see that AE is just the aggregate demand. The equilibrium condition is given by Y = AE.
The economy reaches equilibrium when Y = AE.
Hence, the equilibrium output is given by, $Y
= C+S+T+I+G+NXY
= $200 + 0.90Y + $550 + $225 + $75 + NXY - 0.90Y
= $200 + $550 + $225 + $75 + NX0.10Y
= $1050 + NXY = $10500 + 10NX
In order to find the equilibrium output, we need to find the value of NX.
Given, NX = X-M Substituting the given values, NX
= $75 - $100
= -$25 billion
The negative value of NX shows that the economy is not self-sufficient. It relies on imports to meet its needs.
So, the equilibrium output of the economy is, $Y
= $10500 + 10(-$25)$Y
= $10250 billion.
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