To calculate the accounting rate of return for Proposal X, we need to divide the average annual net income by the average investment.
First, let's calculate the average annual net income:
Average annual net income = (Estimated annual net cash inflows - Depreciation expense) / 2
Depreciation expense can be calculated as:
Depreciation expense = (Initial investment - Residual value) / Useful life
Depreciation expense = ($850,000 - $79,000) / 9 = $85,222.22
Average annual net income = ($150,000 - $85,222.22) / 2 = $32,388.89
Next, let's calculate the average investment:
Average investment = (Initial investment + Residual value) / 2
Average investment = ($850,000 + $79,000) / 2 = $464,500
Now, we can calculate the accounting rate of return:
Accounting rate of return = (Average annual net income / Average investment) * 100
Accounting rate of return = ($32,388.89 / $464,500) * 100 ≈ 6.97%
Therefore, the accounting rate of return for Proposal X is approximately 6.97%, which is closest to option (OB) 6.54%.
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Japan, the US and Canada are all WTO Members. Japan has a tariff on imported timber of 10% ad valorem. After extensive negotiations, Japan agrees to apply a lower rate (4%) on imported timber from Canada. According to the most-favored nation principle (MFN), Japan Select one: O a. does not need to take further action. ob. must apply the 4% tariff rate to US timber as well. OC. must rescind the concession to Canada, because a country is not allowed to lower tariffs. O d. must lower the rate applied to US timber, but need not lower it all the way to 4%.
According to the most-favored nation principle (MFN), Japan must apply the 4% tariff rate to US timber as well. The correct option is d.
Most-favored nation (MFN) is a principle in international trade law that requires nations to extend the same tariff treatment to all members of the World Trade Organization (WTO) or other trade group as the one granted to the most favored nation. MFN status is an agreement in which two countries grant one another a particular trade treatment.
In this case, if Japan agrees to grant Canada a concession by lowering the rate applied on imported timber to 4%, it must apply the same rate (4%) to all other members of the WTO, including the US, under the most-favored nation principle.Japan, Canada, and the United States are all members of the World Trade Organization (WTO), which oversees the administration of international trade agreements. The WTO is based on the concept of the Most-Favored Nation (MFN) principle. Under this concept, if a country grants another country special trade treatment, it must also extend that treatment to all other WTO members.
Therefore, Japan must apply the 4% tariff rate to US timber as well. Hence, the correct option is B. must apply the 4% tariff rate to US timber as well. The correct option is d.
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19.
Suppose the market supply curve is p = 5 + Q. At a higher price
of $15, producer surplus equals
a.
$50
b.
$25
c.
$10
d.
$12.50
At a higher price of $15 in a market with the supply curve given by p = 5 + Q, the producer surplus equals $12.50. The correct option is option D.
Producer surplus is the difference between the price at which producers are willing to supply a good and the actual market price they receive. To find the producer surplus at a price of $15, we need to determine the quantity supplied at that price and calculate the area of the triangle representing the surplus.
The market supply curve is given by p = 5 + Q, where p represents the price and Q represents the quantity supplied. Substituting the price of $15 into the supply curve equation, we get 15 = 5 + Q, which yields Q = 10.
To calculate the producer surplus, we need to find the area of the triangle above the supply curve and below the price of $15. The base of the triangle is Q = 10, and the height is the difference between the price ($15) and the minimum supply price ($5). Thus, the area is (1/2) * (10) * (15 - 5) = $12.50.
Therefore, the correct answer is option d, $12.50, representing the producer surplus at a price of $15 in the given market.
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has 2 alr fed 347 been replaced or superseded by what annotation has this been done
It appears that you are inquiring about a legal citation, specifically "2 ALR Fed 347." ALR stands for American Law Reports, which is a series of annotated legal publications that discuss various legal issues and compile relevant case law.
To determine if "2 ALR Fed 347" has been replaced or superseded, you would need to consult the most recent edition of the ALR Federal series or an online legal research platform. The annotation may have been updated, replaced, or superseded by a newer annotation discussing the same or a related legal issue.
In summary, to verify the current status of "2 ALR Fed 347," you should consult the latest ALR Federal edition or use an online legal research platform to determine if there is an updated or replacement annotation.
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Countries that have a lot of investment tend to grow faster than countries with less investment, because the country's residents earn a lot of income from their holdings of stocks and bonds. O the quantities of factories and machines tend to grow faster in countries with more investment. O it's better for a country to have a lot of investment rather than savings.
Countries that have a lot of investment tend to grow faster than countries with less investment, because the quantities of factories and machines tend to grow faster in countries with more investment. The option A is correct.
An investment is an asset or item acquired with the aim of generating revenue or appreciation in value. Investment is putting money into something with the anticipation of profit. It is a way to save money while also earning money. There are different types of investment, such as stocks, bonds, mutual funds, real estate, and so on.
The reason why countries with a lot of investment tend to grow faster than countries with less investment is that the quantities of factories and machines tend to grow faster in countries with more investment. Investment helps in the creation of jobs and infrastructure, which in turn contributes to economic growth.Investment in education and health is also significant, as it increases human capital.
As a result, when more investment is made in education and health, people's skills and knowledge will improve, which will improve the economy's productivity. So, investment is a key factor in the growth and development of a country. The option A is correct.
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Which of the following is positive, negative or neither? • the number of toys I have and the number of kids I have • the amount of catfood you buy and the number of tootbrushes you buy • the"
Positive correlation, negative correlation or no correlation?The following is positive, negative or neither:• The number of toys I have and the number of kids I have- Positive correlation• The amount of catfood you buy and the number of toothbrushes you buy- NeitherPositive correlation:
The number of toys I have and the number of kids I have have a positive correlation. If the number of toys increases, the number of children in the house also increases, indicating a positive correlation between the two factors.Negative correlation: If the value of one variable increases as the value of another decreases, this is referred to as negative correlation. A negative correlation is a statistical measure that indicates how two factors are related to one another. For example,
if the amount of exercise you do on a daily basis increases, your body weight decreases. This is known as a negative correlation. Neither: The amount of cat food you buy and the number of toothbrushes you buy have no correlation. There is no connection between these two variables. Therefore, it is referred to as neither positive nor negative correlation.
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The government has decided to impose a pollution tax on coal burning power plants in an attempt to reduce harmful emissions. The new tax will cost the 20 largest industrial carbon emitters $6 million annually. In terms of reduced emissions, the annual tax benefits are valued at $20 per person. 100 million people are directly affected by emissions from these plants. The total annual cost of this tax is ___________, while the total annual benefit to society is ____________.
$60 million, $2 billion
$60 million, $1 billion
$120 million, $1 billion
$120 million, $2 billion
The total annual cost of the pollution tax imposed on the 20 largest industrial carbon emitters is $60 million, while the total annual benefit to society is $1 billion.
The given information states that the new pollution tax will cost the 20 largest industrial carbon emitters $6 million annually. Since there are 20 emitters, the total annual cost of the tax is 20 * $6 million, which equals $120 million.
The annual tax benefits, in terms of reduced emissions, are valued at $20 per person. With 100 million people directly affected by emissions from these plants, the total annual benefit to society is 100 million * $20, which equals $2 billion.
Therefore, the total annual cost of the tax is $120 million, while the total annual benefit to society is $2 billion.
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Consideration. Daniel, a recent college graduate, is on his way home for the Christmas holidays from his new job. He gets caught in a snowstorm and is taken in by an elderly couple, who provide him with food and shelter. After the snowplows have cleared the road, Daniel proceeds home. Daniel’s father, Fred, is most appreciative of the elderly couple’s action and in a letter promises to pay them $500. The elderly couple, in need of funds, accept Fred’s offer. Then, because of a dispute between Daniel and Fred, Fred refuses to pay the elderly couple the $500. Discuss whether the couple can hold Fred liable in contract for the services rendered to Daniel. (See page 260.)
The elderly couple cannot hold Fred liable in a contract for the services rendered to Daniel.
Consideration is something of value exchanged between the parties to a contract. It is an essential element of a valid contract. It can be any benefit to the promisor or detriment to the promisee. In this case, Fred promised to pay $500 to the elderly couple, which constitutes consideration. In the given scenario, Daniel, a recent college graduate, is on his way home for Christmas when he gets caught in a snowstorm. He is taken in by an elderly couple who provide him with food and shelter. After the snowplows have cleared the road, Daniel proceeds home. Daniel's father, Fred, is most appreciative of the elderly couple's action and promises to pay them $500 in a letter. The elderly couple, in need of funds, accept Fred's offer. But due to a dispute between Daniel and Fred, Fred refuses to pay the elderly couple the $500. In this case, the elderly couple cannot hold Fred liable in a contract for the services rendered to Daniel because there is no direct contract between Fred and the elderly couple. There was no agreement or consideration between Fred and the elderly couple to provide shelter to Daniel, so there is no contract between them. The elderly couple did a good deed by providing shelter to Daniel, but the promise of payment made by Fred was merely a gift and not a contract.
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Dillman Food Store developed the following information in recording its bank statement for the month of March. Balance per books March 31 $ 2,905 Balance per bank statement March 31 $10,900 1. Checks written in March but still outstanding $6,000. 2. Checks written in February but still outstanding $2,800. 3. Deposits of March 30 and 31 not yet recorded by bank $5,200. 4. NSF check of customer returned by bank $1,200. 5. Check No. 210 for $594 was correctly issued and paid by bank but incorrectly entered in the cash payments journal as payment on account for $549. 6. Bank service charge for March was $50. 7. A payment on account was incorrectly entered in the cash payments journal and posted to the accounts payable subsidiary ledger for $824 when Check No. 318 was correctly prepared for $284. The check cleared the bank in March. 8. The bank collected a note receivable for the company for $5,000 plus $150 interest revenue. Required: Prepare the bank reconciliation. DILLMAN FOOD STORE Bank Reconciliation March 31
The bank reconciliation for Dillman Food Store reveals an adjusted book balance of $8,105 and an adjusted bank balance of $1,900. There is a difference of $6,665, which can be attributed to outstanding checks, deposits in transit, an NSF check, bank service charge, etc.
The bank reconciliation process begins by comparing the balance per books and the balance per bank statement. In this case, the balance per books is $2,905, and the balance per bank statement is $10,900. The next step is to identify and adjust for any discrepancies.
Deposits in transit: These are deposits made by the company but not yet recorded by the bank. In this case, there are deposits of $5,200 made on March 30 and 31 that have not yet been recorded by the bank. Adding this amount to the balance per books, the adjusted book balance becomes $8,105.
Outstanding checks: These are checks written by the company but have not yet cleared the bank. In March, there are outstanding checks totaling $6,000 and additional checks from February totaling $2,800. Subtracting these amounts from the balance per bank statement, the adjusted bank balance becomes $1,900.
NSF check: This refers to a check that was returned by the bank due to insufficient funds. In this case, an NSF check of $1,200 was returned. Subtracting this amount from the adjusted bank balance, we arrive at $1,900.
Other adjustments include a bank service charge of $50, an incorrectly entered payment of $540 ([$824 - $284]), and an incorrectly entered check of $45 ([$594 - $549]). Finally, there is a note receivable collection of $5,150 ([$5,000 + $150]), which is added to the adjusted book balance. After making these adjustments, the corrected balances are $13,720 for the adjusted book balance and $7,055 for the adjusted bank balance. The difference between the two balances, $6,665, has been reconciled by accounting for the various factors mentioned above.
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a+zero-coupon+bond+with+a+maturity+of+4+years+has+a+yield+to+maturity+of+5%.+what+is+the+modified+duration+of+the+bond?
The modified duration of the zero-coupon bond with a maturity of 4 years and a yield to maturity of 5% is 0.875.
To calculate the modified duration of a zero-coupon bond, you can use the formula:
Modified Duration = (1 + Yield to Maturity) / (1 + Yield to Maturity * Time to Maturity)
In this case, the yield to maturity is 5%, and the maturity of the bond is 4 years. Plugging these values into the formula, we get:
Modified Duration = (1 + 0.05) / (1 + 0.05 * 4)
= 1.05 / 1.2
= 0.875
Therefore, the modified duration of the zero-coupon bond with a maturity of 4 years and a yield to maturity of 5% is 0.875.
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On the first day of its fiscal year, Chin Company issued $23,100,000 of five-year, 9% bonds to finance its operations of producing and selling home improvement products. Interest is payable semiannually. The bonds were issued at a market (effective) interest rate of 10%, resulting in Chin receiving cash of $22,208,059. The fiscal year of the company is the calendar year. Required: a. Journalize the entries to record the following: 1. Issuance of the bonds. 2. First semiannual interest payment. The bond discount is combined with the semiannual interest payment. (Round your answer to the nearest dollar.) 3. Second semiannual interest payment. The bond discount is combined with the semiannual interest payment. (Round your answer to the nearest dollar.) b. Determine the amount of the bond interest expense for the first year. c. Explain why the company was able to issue the bonds for only $22,208,059 rather than for the face amount of $23,100,000.
a. Journal Entries:
1. Issuance of the bonds:
Cash $22,208,059
Discount on Bonds Payable $891,941
Bonds Payable $23,100,000
The company receives cash of $22,208,059, which is the present value of the bond's future cash flows discounted at the market interest rate of 10%. The discount on Bonds Payable is calculated as the difference between the face value of the bonds ($23,100,000) and the cash received.
2. First semiannual interest payment:
Interest Expense $1,155,403
Discount on Bonds Payable $155,403
Cash $1,000,000
The company recognizes the interest expense of $1,155,403, calculated as the carrying value of the bonds ($23,100,000 - $891,941) multiplied by the market interest rate of 10% for half a year. The discount on Bonds Payable decreases by $155,403, and the cash payment for the semiannual interest is $1,000,000.
3. Second semiannual interest payment:
Interest Expense $1,155,403
Discount on Bonds Payable $155,403
Cash $1,000,000
The second semiannual interest payment is recorded in the same manner as the first semiannual interest payment.
b. Bond Interest Expense for the First Year:
The bond interest expense for the first year is the sum of the two semiannual interest payments:
$1,155,403 + $1,155,403 = $2,310,806
c. The company was able to issue the bonds for only $22,208,059 instead of the face amount of $23,100,000 because the market interest rate was higher than the stated interest rate of the bonds. When the market interest rate is higher than the stated rate, the bond's price decreases, resulting in a discount. Investors require a higher return when the market interest rate is higher, and thus the bonds are issued at a discount to compensate for the lower effective interest rate.
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"Policymakers aim at increasing output Y, but keeping the
interest rate, i, constant. Which of the following policy mix can
achieve this target?
To achieve the goal of increasing output (Y) while keeping the interest rate (i) constant.
Policymakers can implement a policy mix that includes the following measures:
Expansionary Fiscal Policy: Policymakers can increase government spending and/or reduce taxes to stimulate aggregate demand. This can lead to increased consumption and investment, thereby boosting output. By implementing expansionary fiscal policy, policymakers aim to increase aggregate demand without directly affecting the interest rate.
Expansionary Monetary Policy: Policymakers can adjust monetary policy to stimulate economic activity and increase output. This can involve lowering the central bank's policy interest rate, which can encourage borrowing and investment. By keeping interest rates low, policymakers aim to support economic growth without affecting the interest rate directly.
Supply-side Policies: Policymakers can also implement supply-side policies aimed at improving productivity and efficiency in the economy. These policies can include investments in infrastructure, education and training programs, and reducing regulatory burdens. By enhancing the supply side of the economy, policymakers aim to increase output in the long run without necessarily affecting the interest rate directly.
It is important to note that the effectiveness of these policies can vary depending on the specific economic conditions and the degree of coordination between fiscal and monetary policy. Additionally, policymakers need to consider the potential trade-offs and unintended consequences of their policy actions.
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1.) You make a series of quarterly deposits of $7000 for 10
years. The nominal interest rate is 12% compounded monthly. What is
the future value of these deposits at the end of year 10?
The future value of the quarterly deposits at the end of year 10 is approximately $208,418.
to calculate the future value of a series of quarterly deposits, we can use the formula for the future value of an ordinary annuity:
future value = payment * [(1 + r)ⁿ - 1] / r
where:
payment = amount of each deposit
r = interest rate per period
n = number of periods
in this case, the payment is $7,000, the nominal interest rate is 12% compounded monthly, and the deposits are made quarterly for 10 years.
first, let's calculate the interest rate per quarter. since the nominal interest rate is compounded monthly, we need to adjust it for quarterly compounding:
interest rate per quarter = (1 + r)ⁿ - 1
= (1 + 0.12/12)⁴ - 1
= (1 + 0.01)⁴ - 1
= 1.01⁴ - 1
≈ 0.040604 - 1
≈ 0.040604
now, let's calculate the future value of the deposits at the end of year 10:
future value = $7,000 * [(1 + 0.040604)⁽¹⁰*⁴⁾ - 1] / 0.040604
≈ $7,000 * (1.040604⁴⁰ - 1) / 0.040604
≈ $7,000 * (2.208302 - 1) / 0.040604
≈ $7,000 * 1.208302 / 0.040604
≈ $7,000 * 29.774136
≈ $208,418.95 95.
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1. PepsiCo, near the top of Table 2-5 in the chapter, is a company that provides
comprehensive financial statements. Go to finance.yahoo.com. In the box next to
"Get Quotes," type in its ticker symbol PEP and click.
PepsiCo (ticker symbol: PEP) is a company that provides comprehensive financial statements.
To access financial information about PepsiCo, you can visit finance.yahoo.com, enter the ticker symbol PEP in the search box, and click on the search result. By visiting finance.yahoo.com and searching for the ticker symbol PEP, you can access detailed financial information about PepsiCo. Yahoo Finance is a popular online platform that provides a wide range of financial data and resources for investors and individuals interested in tracking the performance of companies. Once you search for PEP, you will be directed to the PepsiCo company page, where you can find comprehensive financial statements, including the income statement, balance sheet, cash flow statement, and other relevant financial metrics. These financial statements offer insights into PepsiCo's financial performance, profitability, liquidity, and overall financial health. Additionally, the platform may provide additional features such as historical stock prices, analyst recommendations, news articles, and other relevant information that can assist in analyzing PepsiCo's financial standing.
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Consider the following economy X with an infinitely-lived agent where the representative consumer has preferences given by at {log (c) + Blog h₁}, t=0 where c is consumption, h is leisure, and B> 0 and 0 < 3 < 1. The consumer has an endowment of one unit of time. The consumer has an access to a financial market where he can save or borrow at real interest rate rt. Thus, the consumer's budget constraint at time t is Ct +St+1=w₁(1ht) + (1 + rt)st - Tt where st is the asset holdings (i.e, savings) by the consumer at time t consumption. Assume that so = 0. The representative firm has a technology for producing consumption goods, given by Yt = zelt where y, is output, z is productivity, is the labor input. The government purchases 9 units of consumption goods each period, and finances these purchases through lump-sum taxes T, and by issuing bonds bt. The government's budget constraint is 9t + (1+rt)bt = It + bt+1 and bg = 0. (a) Write down the problem of the consumer and explain the optimality condition(s) (b) From the firms' optimality condition, 2+ = wt, and the total output y = c + gt in each period. Solve for the equilibrium labor supply and consumption. (c) Suppose the economy is at the steady state: z = z and gt = g for all t. What is the equilibrium interest rate? Explain what determines the steady state (long-run) interest rate.
The given economy, referred to as Economy X, consists of an infinitely-lived representative consumer with certain preferences and an endowment of time, a representative firm with a production technology, and a government with specific budget constraints. The problem asks to analyze the consumer's optimization problem, determine the equilibrium labor supply and consumption, and find the equilibrium interest rate in the steady state.
(a) The consumer's problem is to maximize their utility function, which is a logarithmic function of consumption (c) and leisure (h), subject to the budget constraint. The optimality condition for the consumer is given by the marginal rate of substitution between consumption and leisure equal to the ratio of their prices, which represents the real wage rate (wt).
(b) From the firms' optimality condition, which states that the marginal product of labor (MPN) is equal to the real wage rate, and the total output (y) is the sum of consumption (c) and government purchases (g), we can solve for the equilibrium labor supply and consumption. By equating MPN with wt, we find the equilibrium labor supply. By substituting the labor supply into the total output equation and rearranging, we can solve for equilibrium consumption.
(c) In the steady state, where productivity (z) and government purchases (g) remain constant over time, the equilibrium interest rate (rt) is determined by the condition that the supply of savings matches the demand for investment. In this case, the government's budget constraint implies that savings equal investment, as there is no accumulation or depletion of government debt (bg = 0). Therefore, the equilibrium interest rate is determined by the equality of savings and investment, as represented by the budget constraint equation.
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There was a disposition of a vehicle for cash for $8,000, the original cost of which was $25,000 and the accumulated depreciation of $15,000. Do the journal entry:
Entry:
The journal entry for the disposition of the vehicle for cash would involve recording the cash received and removing the vehicle's cost and accumulated depreciation from the books.
the journal entry: The loss on disposition is calculated as the difference between the original cost of the vehicle ($25,000) and the cash received ($8,000), which is $17,000. However, since the accumulated depreciation is already recorded separately, we only need to recognize the remaining loss amount of $2,000. Please note that if there was a gain on the disposition instead of a loss, the credit entry for "Loss on Disposition of Vehicle" would be replaced with "Gain on Disposition of Vehicle" and the amount would be recorded accordingly.
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2. Short answer questions 1) What are the advantages and drawbacks of standardization and adaptation? 2) What are factors influencing pricing decisions? 3) What are the strategic alternatives or appro
Advantages and drawbacks of standardization and adaptation:
Standardization refers to the approach of offering the same products or services across different markets, while adaptation involves customizing offerings to meet the specific needs and preferences of local markets. Here are the advantages and drawbacks of both approaches:
Advantages of standardization:
Cost-efficiency: Standardization allows companies to achieve economies of scale by producing and marketing a single, standardized product, reducing production and marketing costs.
Consistent brand image: A standardized approach helps in building a consistent brand image globally, leading to increased brand recognition and customer loyalty.
Simplified logistics: By producing a standardized product, companies can simplify their supply chain and distribution processes.
Market responsiveness: Adapting products to local markets allows companies to meet the unique demands and preferences of customers, leading to increased sales and market share.
Competitive advantage: Adapting products can help companies differentiate themselves from competitors and gain a competitive edge by offering tailored solutions.
Cultural sensitivity: By adapting products, companies can demonstrate respect for local cultures and build stronger relationships with customers.
Drawbacks of adaptation:
Increased costs: Adapting products can result in higher production and marketing costs due to the need for customization and localized strategies.
Complex logistics: Managing a variety of customized products and strategies across different markets can pose logistical challenges.
Brand inconsistency: Adaptation may lead to inconsistencies in brand image and messaging, which can dilute the overall brand identity.
Factors influencing pricing decisions:
Market demand: Understanding customer demand and price sensitivity is essential in determining the optimal pricing strategy. Higher demand may support higher prices, while lower demand may require competitive pricing or discounts to stimulate sales.
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Chapter 1 Homework 8 20 points Saved Check my work Dakota Company experienced the following events during Year 2: 1. Acquired $25,000 cash from the issue of common stock. 2. Paid $20,000 cash to purch
During Year 2, Dakota Company recorded several events. They received $25,000 in cash from the issuance of common stock, paid $20,000 in cash to purchase inventory, and collected $40,000 in cash from customers.
The first event in Year 2 was the issuance of common stock, which resulted in an inflow of $25,000 in cash. This transaction increased the company's cash balance and contributed to its stockholders' equity.
The second event involved the purchase of inventory. Dakota Company paid $20,000 in cash to acquire inventory for its operations. This cash outflow reduced the company's available cash and increased its inventory assets.
The third event was the collection of cash from customers. Dakota Company received $40,000 in cash from its customers, representing sales revenue. This cash inflow increased the company's cash balance and reflected its successful collection efforts.
Lastly, Dakota Company incurred and paid $15,000 in operating expenses. These expenses include costs such as salaries, rent, utilities, and other day-to-day operational costs. The cash outflow for operating expenses reduces the company's available cash and represents the costs associated with running its business.
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In determining an entry strategy, what should firms consider?
For these entry strategy considerations, (i) which should be prioritised, and (ii) are these prioritisations context specific (if so, in which contexts should certain considerations be prioritised)?
Why should previous entry strategy experiences (by self or others) inform entry strategy considerations now?
When determining an entry strategy, firms should consider several factors, including: Market analysis, Resource availability, Competitive advantage, Regulatory and legal environment, Cultural and social factors and Risk assessment.
Market analysis: Firms should assess the potential market size, growth rate, competition, and customer preferences. This analysis helps identify market opportunities and potential challenges.
Resource availability: Firms need to consider their available resources, including financial capital, human resources, technology, and infrastructure. They should align their entry strategy with their resource capabilities.
Competitive advantage: Firms should evaluate their unique strengths and competitive advantages that can give them an edge in the target market. This may include factors such as technological superiority, brand reputation, or cost efficiency.
Regulatory and legal environment: Firms need to understand the regulatory and legal requirements of the target market, including trade policies, intellectual property rights, and licensing agreements. Compliance with these regulations is crucial for successful entry.
Cultural and social factors: Firms should consider cultural differences, consumer behavior, language barriers, and social norms in the target market. Adapting products, services, and marketing strategies to local preferences can increase chances of success.
Risk assessment: Firms should evaluate the risks associated with entering a new market, including financial risks, political instability, currency fluctuations, and potential barriers to entry. Mitigating and managing risks is essential for a successful entry strategy.
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Briefly describe the relationship between MPL and MC; then briefly describe the relationship between MC and AVC; what short-term situation do these relationships help to describe; lastly, briefly describe the relationship between MC and AFC.
MPL (marginal physical product) refers to the increase in output that results from increasing labor by one unit. MC (marginal cost) refers to the increase in total cost that results from producing an additional unit of output.
MPL is inversely related to MC, meaning that as MPL increases, MC decreases. This is because when MPL increases, it means that labor is becoming more productive, resulting in lower costs per unit of output.The relationship between MC and AVC (average variable cost) is such that MC intersects AVC at its minimum point. AVC is the total variable cost divided by the total output, while MC is the change in total cost resulting from producing an additional unit of output. The point at which MC intersects AVC is the point where AVC is at its minimum, which is the point at which diminishing returns begin to set in. This relationship helps to describe the short-term situation where a firm has fixed costs and is looking to minimize its variable costs to maximize profit.The relationship between MC and AFC (average fixed cost) is such that as output increases, AFC decreases. This is because AFC is the total fixed cost divided by the total output, while MC is the change in total cost resulting from producing an additional unit of output. As output increases, the total fixed cost is spread out over more units of output, resulting in a decrease in AFC. This relationship helps to describe the short-term situation where a firm is experiencing economies of scale and wants to minimize its average cost per unit of output.
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(a) Describe what it means if a new company decides to issue its ordinary shares to investors in instalments, and why they might sell shares this way. (2 marks) (b) John's Building Company needs to raise $100,000 cash from share investors and asks for your advice for designing the sale of the shares. He wants to sell ordinary shares. (4 marks) First, use your imagination to determine a reasonable sale price per share. Then, design a traditional 3 step instalment plan for collection of the cash from investors. Hint: you may consider that the Application period will commence on 1st February 2022. Outline the basic details of your plan, including beginning and ending dates for each stage of your plan.
(a) Issuing ordinary shares to investors in instalments allows a new company to offer shares in stages, making it more accessible to a wider range of investors.
(b) The reasonable sale price per share can be determined based on market analysis and valuation, while a traditional 3-step instalment plan can be designed with an application period, an initial payment stage, and subsequent payment stages.
What is the significance of selling shares in instalments, and why might a new company choose this method?Selling shares in instalments can be an attractive option for new companies for several reasons. Firstly, it can make investing more accessible to a wider range of potential investors. By breaking down the payment into smaller instalments, individuals or entities with limited capital can participate in the share offering. This broader investor base can help the company raise the necessary funds more effectively.
Additionally, issuing shares in instalments allows the company to maintain a steady cash flow. Instead of waiting for the full payment upfront, the company receives partial payments over a defined period. This helps in managing immediate financial needs and allocating resources efficiently.
Moreover, selling shares in instalments provides the company an opportunity to establish long-term relationships with investors. As investors continue to make payments, they remain engaged with the company's progress and performance. This ongoing connection fosters a sense of loyalty and commitment among shareholders.
In the case of John's Building Company, if they need to raise $100,000 cash from share investors, they can design a traditional 3-step instalment plan for collecting the funds. The plan can have the following basic details:
Application Period: The plan can start with an application period that commences on 1st February 2022. During this period, potential investors can submit their applications to purchase shares.
Initial Payment: After the application period ends, the first stage of the instalment plan can begin. Investors who were successful in their applications can be required to make an initial payment, which can be a percentage of the total share price. This payment will secure their allocated shares.
Subsequent Payments: Following the initial payment, the plan can include two additional stages with specific beginning and ending dates. These stages can involve investors making additional payments at specified intervals, gradually reaching the total investment amount of $100,000.
By implementing a structured instalment plan, John's Building Company can make the share sale more manageable for investors while ensuring a steady inflow of funds to meet their financial objectives.
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In class, we modeled growth in an economy by a growing population. We could also achieve a growing economy by having an endowment that increases over time. To see this, consider the following economy. Let the number of young people born in each period be constant at N. There is a constant stock of fiat money, M. Each young person born in period t is endowed with yt units of the consumption good when young and nothing when old. The individual endowment grows over time so that yt ayt-1, where a > 1. For simplicity, assume that in each period t, young people desire to hold real money balances equal to one-half of their endowment. = (a) Find the rate of return of money in this economy. Explain your results. (b) How could the government achieve a rate of return of 1 in this economy? Explain your results. (c) Now assume that the population changes over time. At what rate would it need to increase or decrease, in order for the rate of return on money to be equal to 1, assuming constant money supply? Explain your results.
The population would need to double over time, with each generation having twice as many young people as the previous generation, in order for the rate of return on money to be equal to 1, assuming a constant money supply.
(a) To find the rate of return on money in this economy, we need to compare the increase in the value of money over time with the initial value.
In period t, each young person receives an endowment of yt units of the consumption good and desires to hold real money balances equal to one-half of their endowment, which is (1/2)yt. The nominal money balance in period t is M.
To find the rate of return, we compare the nominal money balance from period t to period t+1. In period t+1, the endowment of each young person is (a)yt units, and they desire to hold (1/2)(a)yt units of real money balances. The nominal money balance in period t+1 is still M.
The rate of return (r) on money can be calculated as:
r = [(1/2)(a)yt - (1/2)yt] / (1/2)yt
= [(a - 1)/2] / (1/2)
= (a - 1)
The rate of return on money in this economy is equal to (a - 1). It depends on the growth factor (a) of the individual endowment. If a > 1, meaning the endowment grows over time, the rate of return on money will be greater than 0, indicating a positive return.
(b) The government can achieve a rate of return of 1 in this economy by adjusting the money supply. If the government increases the money supply by a factor of (a), keeping the endowment and desired money balances unchanged, the rate of return on money would be 1.
In this case, the nominal money balance in period t+1 would be M(a), and the desired real money balances would still be (1/2)(a)yt. The rate of return on money would be:
r = [(1/2)(a)yt - (1/2)yt] / (1/2)yt
= [(a - 1)/2] / (1/2)
= (a - 1)
= 1
By adjusting the money supply in line with the growth of the individual endowment, the government can ensure that the rate of return on money is equal to 1.
(c) If the population changes over time, the rate at which it needs to increase or decrease to achieve a rate of return on money equal to 1 depends on the growth factor (a) and the constant money supply.
Assuming a constant money supply, the rate of return on money remains (a - 1). To achieve a rate of return of 1, we need (a - 1) = 1, which implies a = 2.
Therefore, the population would need to double over time, with each generation having twice as many young people as the previous generation, in order for the rate of return on money to be equal to 1, assuming a constant money supply.
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Which of the following alternatives represents the correct amount that must be disclosed as proceeds on sale of property, plant and equipment in the cash flows from investing activities section according to direct method in the statement cash flows of Phokwane Limited for the year ended 28 February 2022?
a. (10 800)
b. 16600
c. 0
d. 10 800
e. (16 600)
The correct option is (E) (16 600)
The correct amount that must be disclosed as proceeds on the sale of property, plant, and equipment in the cash flows from investing activities section according to the direct method in the statement of cash flows of Phokwane Limited for the year ended 28 February 2022 is (16 600).
Explanation: Phokwane Limited Statement of Cash Flows For the year ended 28 February 2022 Cash flows from operating activities Cash receipts from customers 464 000 Cash paid to suppliers and employees (345 000) Cash generated from operating activities 119 000 Interest paid (5 000) Income taxes paid (13 000) Net cash flows from operating activities 101 000 Cash flows from investing activities Purchase of property, plant, and equipment (35 000) Proceeds on sale of property, plant, and equipment 16 600 Net cash used in investing activities (18 400) Cash flows from financing activities Proceeds from bank loan 60 000 Repayment of bank loan (44 000) Dividends paid (20 000) Net cash flows from financing activities (4 000) Net increase in cash and cash equivalents 78 600 Cash and cash equivalents at beginning of year 45 000 Cash and cash equivalents at end of year 123 600 Analysis: In the statement of cash flows, proceeds on the sale of property, plant, and equipment is an investing activity.
The direct method of preparing a statement of cash flows involves determining cash receipts from operating activities and cash payments for operating activities.
All other transactions are reported as investing or financing activities. According to the cash flows from investing activities section, Phokwane Limited had proceeds on the sale of property, plant, and equipment of (16 600) in the year ended 28 February 2022.
Therefore, the correct answer is (E) (16 600).
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Blossom Company sold equipment for $24,200. The equipment originally cost $55,000 in 2019 and $13,200 was spent on a major overhaul in 2022 (charged to the Equipment account). Accumulated Depreciation on the equipment to the date of disposal was $44,000.
Prepare the appropriate journal entry to record the disposition of the equipment.
The journal entry to record the disposition of the equipment would be as follows:
Debit: Accumulated Depreciation ($44,000)
Debit: Loss on Disposal ($3,800)
Credit: Equipment ($55,000)
What are the journal entry details for the equipment Depreciation?When disposing of the equipment, the appropriate journal entry involves debiting the Accumulated Depreciation and Loss on Disposal accounts while crediting the Equipment account. The Accumulated Depreciation account is debited for its total balance of $44,000, representing the cumulative depreciation expense charged against the equipment over time.
The Loss on Disposal account is debited for the difference between the equipment's net book value ($55,000 - $44,000 = $11,000) and the amount received from the sale ($24,200), resulting in a loss of $3,800. Finally, the Equipment account is credited with its original cost of $55,000.
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Question:
Explain
in your words why the
regulators require the parent entity to prepare consolidated
financial statements. (350 word)
Regulators require parent entity to prepare consolidated financial statements to provide comprehensive and accurate view of financial position, performance, cash flows of entire group, including subsidiaries.
Regulators require the preparation of consolidated financial statements for several reasons. Firstly, consolidated financial statements provide a holistic view of the financial affairs of a group of companies under the control of a parent entity. By consolidating the financial statements of the parent and its subsidiaries, regulators can assess the overall financial health and performance of the entire group. This is important for making informed decisions, evaluating the group's solvency, and ensuring compliance with regulatory requirements. Secondly, consolidated financial statements facilitate transparency and enhance the comparability of financial information. When a parent entity holds a controlling interest in its subsidiaries, it has the ability to influence and direct the operations and financial policies of those subsidiaries. Consolidation enables regulators and other stakeholders to assess the combined financial results and position of the group, rather than relying solely on separate financial statements of individual entities. This promotes transparency and helps investors, creditors, and other stakeholders in making more accurate and meaningful assessments of the group's performance and risks.
Furthermore, consolidated financial statements also play a crucial role in assessing the group's compliance with accounting standards and regulatory frameworks. By consolidating the financial statements, regulators can ensure that the group adheres to the prescribed accounting principles, disclosure requirements, and governance standards. This helps maintain the integrity and reliability of financial reporting within the group and protects the interests of stakeholders. Consolidated financial statements also provide valuable information for regulatory oversight and monitoring of the group's financial activities. Regulators can assess the group's overall risk exposure, evaluate its capital adequacy, and identify any potential issues or irregularities that may require regulatory intervention. By having access to consolidated financial statements, regulators can effectively fulfill their supervisory role and take appropriate actions to safeguard the interests of the public and maintain the stability of the financial system.
In summary, regulators require the preparation of consolidated financial statements to gain a comprehensive view of the group's financial position, promote transparency, enhance comparability, ensure compliance with accounting standards, and facilitate regulatory oversight. Consolidated financial statements provide a more accurate representation of the group's financial performance and enable regulators to make informed decisions and take appropriate actions when necessary.
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Suppose that Yt follows the stationary AR (1) model Y₁ = 2.5 +0.7Y₁-1 + t, where & is i.i.d. with E(&t) = 0 and Var(t) = 9. a) Compute the mean and variance of Y b) Compute the first two autocovariances of Yt c) Compute the first two autocorrelations of Y d) Suppose that YT = 102.3. Compute YT+1\T Yr+1r = E(Yr+1|Yr,Yr-1,…)
a) Mean of Yt is 3.75 and variance is 8.1. b) The first two autocovariances of Yt are Cov(Yt, Yt-1) = 0.7 * Var(Yt) and Cov(Yt, Yt-2) = 0.7 * Cov(Yt-1, Yt-1). c) The first two autocorrelations of Yt are ρ₁ = 0.7 and ρ₂ = 0.7 * ρ₁.
a) To compute the mean of Yt, we substitute Yt-1 with its expected value and solve: E(Yt) = 2.5 + 0.7 * E(Yt-1) + E(t), which gives E(Yt) = 3.75. The variance of Yt is Var(Yt) = Var(2.5 + 0.7Yt-1 + t) = Var(t) = 9.
b) The first autocovariance is Cov(Yt, Yt-1) = Cov(2.5 + 0.7Yt-1 + t, Yt-1) = 0.7 * Var(Yt) = 0.7 * 9. The second autocovariance is Cov(Yt, Yt-2) = Cov(2.5 + 0.7Yt-1 + t, Yt-2) = 0.7 * Cov(Yt-1, Yt-1).
c) The first autocorrelation is obtained by dividing the first autocovariance by the variance: ρ₁ = Cov(Yt, Yt-1) / Var(Yt) = 0.7 / (3.75 + 0.7² * 8.1). The second autocorrelation is ρ₂ = 0.7 * ρ₁.
d) Given Yt = 102.3, to compute YT+1|T(Yr+1|Yr,Yr-1,…), we substitute the known values into the AR(1) equation: Yr+1 = 2.5 + 0.7Yr + t. Since Yt+1 only depends on Yt, we can use Yt = 102.3 to estimate the conditional expectation E(Yt+1|Yt) = 2.5 + 0.7 * 102.3.
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The table below shows the values for several different components of GDP. Category Billions of Dollars
Personal consumption expenditures $ 265
Net foreign factor income 4
Transfer payments 14
Rents 14
Consumption of fixed capital (depreciation) 19
Statistical discrepancy 16
Social Security contributions 12
Interest 14
Proprietor's income 25
Net exports 14 Dividends 16
Compensation of employees 243
Taxes on production and imports 10
Undistributed corporate profits 13
Personal taxes 18 Corporate income taxes 11
Corporate profits 40
Government purchases 54
Net private domestic investment 25
Personal saving 12
Imports 7
Instructions: Enter your answers as whole number. a. What is the value of exports? $ billion b. What is the value of national income? $ billion c. What is the GDP? $ billion d. What is the value of personal income? $ billion
The value of exports is $14 billion, national income is $281 billion, GDP is $291 billion, and personal income is $324 billion.
To determine the value of exports, we look at the given component "Net exports," which has a value of $14 billion.
To calculate national income, we sum up several components, including compensation of employees ($243 billion), rents ($14 billion), interest ($14 billion), dividends ($16 billion), and undistributed corporate profits ($13 billion). Adding these values, we find that national income is $281 billion.
Gross Domestic Product (GDP) is calculated by adding all the components of GDP. Adding the value of national income ($281 billion) to net foreign factor income ($4 billion) and net private domestic investment ($25 billion), we obtain a GDP of $291 billion.
Lastly, to find the value of personal income, we consider components such as personal consumption expenditures ($265 billion), transfer payments ($14 billion), Social Security contributions ($12 billion), personal taxes ($18 billion), and personal saving ($12 billion). By summing up these values, we find that personal income amounts to $324 billion.
Therefore, the value of exports is $14 billion, national income is $281 billion, GDP is $291 billion, and personal income is $324 billion, based on the provided data.
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QUESTION 12 1 POINT If people store their cash in safe-deposit boxes or in shoeboxes hidden in their closets, then Select the correct answer below: money supply expansion is limited money supply expansion is unchanged money supply expansion increases none of the above
Storing cash in safe-deposit boxes or hidden shoeboxes does not affect money supply expansion.
Money supply refers to the total amount of money in circulation in an economy. If individuals store their cash in safe-deposit boxes or hidden shoeboxes, it does not impact the overall money supply. The money remains out of circulation and is not available for lending or spending. Therefore, the act of storing cash in these ways does not contribute to money supply expansion. The money supply expansion is determined by factors such as central bank policies, commercial bank lending, and government spending.
Since the money is not actively circulating in the economy, it does not contribute to the expansion of the money supply. The money supply remains unchanged because the cash is essentially dormant and not being used as a medium of exchange.
However, it's important to note that the overall money supply can still be influenced by other factors, such as central bank policies, commercial bank lending, and government spending. The money supply is a complex concept affected by various factors, and individual actions of storing cash in safe-deposit boxes or shoeboxes have a limited impact on its expansion.
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Roscoe company’s comparative balance sheet show total assets of $1,385,000 and $1,065,000, for the current and prior years, respectively. The percentage change to be reported in the horizontal analysis is an increase of: Multiple Choice a. 23%. b. 15%. c. 30%. d. 14%.
The percentage change to be reported in the horizontal analysis is an increase of 30%.Option (c) is the correct answer.
The percentage change to be reported in the horizontal analysis in Roscoe company's comparative balance sheet is an increase of 30%.Given,Total assets of the company's comparative balance sheet show $1,385,000 and $1,065,000, for the current and prior years respectively.Therefore, the percentage change can be calculated as follows:$$\% \ change=\frac{\text{Difference in the amounts}}{\text{Amount of the earlier year}}\times 100\%$$ $$\% \ change=\frac{(\text{Amount of the current year}-\text{Amount of the previous year})}{\tex.
t{Amount of the previous year}}\times 100\%$$Substituting the values,$$\% \ change=\frac{(1,385,000-1,065,000)}{1,065,000}\times 100\%=\frac{320,000}{1,065,000}\times 100\% \approx 30\%$$
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Potvin Company produces mathematical and financial calculators and operates at capacity. Data related to the two products follows: Mathematical Financial 49,000 Annual production in units 98,000 Direct materials cost $205,800 $411,600 Direct manufacturing labour cost $83,300 $166,600 4,900 9,800 Direct manufacturing labour-hours Machine-hours 24,500 49,000 49 Number of production runs Inspection hours 49 500 1,000 Manufacturing Overhead Costs Machining costs Setup costs 271,950 98,000 90,000 Inspection costs Required: 1. Choose a cost driver for each overhead cost pool and calculate the manufacturing overhead cost per unit for each product. (15 marks) 2. Compute the manufacturing cost per unit for each product. (9 marks) Total
To calculate the manufacturing overhead cost per unit for each product, we need to allocate the overhead costs to the products using the chosen cost drivers. Based on the given data, we can assign the following cost drivers:
Cost driver for Machining costs: Machine-hours
Cost driver for Setup costs: Number of production runs
Cost driver for Inspection costs: Inspection hours
Now let's calculate the manufacturing overhead cost per unit for each product:
Mathematical Calculator:
Machining costs: $271,950 / 49,000 machine-hours = $5.55 per machine-hour
Setup costs: $98,000 / 49 production runs = $2,000 per production run
Inspection costs: $500 / 1,000 inspection hours = $0.50 per inspection hour
Financial Calculator:
Machining costs: $271,950 / 98,000 machine-hours = $2.78 per machine-hour
Setup costs: $90,000 / 49 production runs = $1,836.73 per production run
Inspection costs: $500 / 500 inspection hours = $1 per inspection hour
Next, let's compute the manufacturing cost per unit for each product:
Mathematical Calculator:
Direct materials cost: $205,800
Direct manufacturing labor cost: $83,300
Manufacturing overhead cost: ($5.55 * 24,500 machine-hours) + ($2,000 * 49 production runs) + ($0.50 * 500 inspection hours)
Total manufacturing cost per unit: (Direct materials cost + Direct manufacturing labor cost + Manufacturing overhead cost) / 49,000 units
Financial Calculator:
Direct materials cost: $411,600
Direct manufacturing labor cost: $166,600
Manufacturing overhead cost: ($2.78 * 49,000 machine-hours) + ($1,836.73 * 49 production runs) + ($1 * 500 inspection hours)
Total manufacturing cost per unit: (Direct materials cost + Direct manufacturing labor cost + Manufacturing overhead cost) / 98,000 units
By plugging in the values, you can calculate the manufacturing cost per unit for each product.
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FILL THE BLANK. 2017 2018 2019 2020
Sales 5,000,000 8,000,000 9,000,000 10,000,00
Actual warranty repairs 500,000 700,000 800,000 850,000
Compute the following: 2018 2019 2020
a. Warranty expense __________ __________ ___________
b. Warranty Liability __________ __________ ____________
(PLEASE SHOW A SOLUTION)
Given that:2017 2018 2019 2020 Sales 5,000,000 8,000,000 9,000,000 10,000,000Actual warranty repairs 500,000 700,000 800,000 850,000. The warranty liability for 2018, 2019, and 2020 are 700,000, 800,000, and 850,000, respectively.
To calculate the warranty expense and warranty liability, the formula to be used are as follows: Warranty Expense = (Actual warranty repairs / Sales) * 100Warranty Liability = (Warranty Expense / 100) * Sales Part a: Calculation of Warranty Expense2017 2018 2019 2020 Sales 5,000,000 8,000,000 9,000,000 10,000,000Actual warranty repairs 500,000 700,000 800,000 850,000Warranty Expense 10% 8.75% 8.89% 8.50%Now we can calculate the warranty expense for 2018, 2019, and 2020 by using the above formula as follows:2018 Warranty Expense = (700,000 / 8,000,000) * 100 = 8.75%2019 Warranty Expense = (800,000 / 9,000,000) * 100 = 8.89%2020 Warranty Expense = (850,000 / 10,000,000) * 100 = 8.50%Therefore, the warranty expense for 2018, 2019, and 2020 are 8.75%, 8.89%, and 8.50%, respectively.Part b: Calculation of Warranty Liability2017 2018 2019 2020 Sales 5,000,000 8,000,000 9,000,000 10,000,000Actual warranty repairs 500,000 700,000 800,000 850,000Warranty Expense 10% 8.75% 8.89% 8.50%Warranty Liability 500,000 700,000 800,000 850,000Now we can calculate the warranty liability for 2018, 2019, and 2020 by using the above formula as follows:2018 Warranty Liability = (8.75 / 100) * 8,000,000 = 700,0002019 Warranty Liability = (8.89 / 100) * 9,000,000 = 800,0002020 Warranty Liability = (8.50 / 100) * 10,000,000 = 850,000Therefore, the warranty liability for 2018, 2019, and 2020 are 700,000, 800,000, and 850,000, respectively.
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