Managers can use CSR and sustainability information as important feedback to guide decision making in a variety of areas. Which of the following areas is least likely to be impacted by this feedback?

a. cost control decisions
b. FASB compliance with U.S. GAAP
c. strategic and operational areas
d. resource allocation decisions

Answers

Answer 1

Answer:

Option B. FASB compliance with U.S. GAAP

Explanation:

Because FASB is an independent body and publishes amendmends in Accounting standards which are internationally accepted so it has nothing to do with the US GAAP. Our decision making impact can be seen on the matters that are dependent on us not on the things we don't have control of or if they independent body. So the least impacted would be FASB compliance with US GAAP.

Whereas the rest of options are controlled by the managers so they can be easily influenced by the decision making power of the managers.


Related Questions

Constable Co. reported the following information at December 31, Year 1: Accounts Payable $ 6,750 Accounts Receivable 14,025 Cash 35,235 Common Stock 135,000 Equipment 74,250 Inventory 46,800 Notes Payable due December 31, Year 3 3,750 Retained Earnings, December 31, Year 1 21,135 Wages Payable 3,675 What is the amount of current assets on the classified balance sheet? Multiple Choice $123,255 $96,060 $170,310 $49,260

Answers

Answer:

$ 96,060

Explanation:

The current assets are accounts receivable,cash and inventory.

The are short term assets that are used in settling short term obligations such as accounts payable  and salaries payable.

Accounts receivable amounted to $14,025

Cash amount is $35,235

Inventory is worth $46,800

Current assets value=$14,025+$35,235+$46,800=$ 96,060.00  

The correct option is the second one with amount of $ 96,060 for current assets

Suppose Binder corporatio's common stock has a return of 17.61 percent. The risk-free rate is 3.68 percent, the market return is 12.4 percent and there is no unsystematic risk affecting Binder's return. Given the one-factor arbitrage pricing model, what is the factor beta

Answers

Answer:

1.597

Explanation:

The computation of the factor beta using the one-factor arbitrage pricing model is shown below:

As we know that

= (Expected rate of return - risk-free rate of return) ÷ (market rate of return-risk-free rate of return)

= (17.61% - 3.68%) ÷ (12.4% - 3.68%)

= 1.597

We simply applied the above formula to determine the factor beta and the same is to be considered

Shulman Inc. has the following data, in thousands. Assuming a 365-day year, what is the firm's cash conversion cycle? Annual sales = $45,000 Annual cost of goods sold = $30,000 Inventory = $4,500 Accounts receivable = $1,800 Accounts payable = $2,500

Answers

Answer:

38.93

Explanation:

Firm Cash Conversion Cycle = Inventory Conversion Period + Average Collection Period  - Payable Deferral Period

Inventory Conversion Period =  365 * Inventory / Annual cost of goods sold

365 days * 4500 / 30000 = 54.75

Average Collection Period = 365 days * Account receivable /  sales

= 365 * 1800 / 45000 = 14.60

Payable Deferral Period = 365 days * Account payable /  sales =  365 * 2500 / 30000 = 30.42

Hence, Firm Cash Conversion Cycle = 54.75 + 14.60 - 30.42 = 38.93

The firm Cash Conversion Cycle is 38.93

As an employee in the Lottery Commission, your job is to design a new prize. Your idea is to create two grand prize choices: (1) receiving $50,000 at the end of each year beginning in one year for 20 consecutive years, or (2) receiving $500,000 today followed by a one-time payment at the end of 20 years. Using an interest rate of 6%, which of the following comes closest to the amount prize (2) needs to pay at the end of year 20 in order that both prizes to have the same present value?
a. $ 326,649
b. $ 440,463
c. $ 114,932
d. $ 393,342
e. $ 235,712

Answers

Answer:

The correct option is  $235,712,option E  

Explanation:

The present value of prize(1) can be computed by using the excel pv formula as shown below:

=-pv(rate,nper,pmt,fv)

rate is interest rate of 6%

nper is the number of years payment would be made which is 20

pmt is the amount of money received per year which is $50,000

fv is the total future worth of the prize (1) which is unknown

=-pv(6%,20,50000,0)

=$573,496.06  

The difference between present value of prize(1) $573,496.06   and $500,000 receivable from prize (2) today is $73,496.06

The difference is today's worth, its future worth can be computed thus:

FV=PV*(1+r)^n

PV is $73,496.06  

r is 6%

n is 20 years

FV=$73,496.06*(1+6%)^20 =$ 235,711.82  

The amount that prize (2) needs to pay after 20 years so that both prizes bear the same present value is closer to Option B. $440,463.

Data and Calculations:

N (# of periods) = 20 years

I/Y (Interest per year) = 6%

PMT (Periodic Payment) = $50,000

FV (Future Value) = $0

Results:

Present Value (PV) = $573,496.06

Sum of all periodic payments = $1,000,000.00

Total Interest = $426,503.94

Thus, the amount that prize (2) needs to pay after 20 years so that both prizes bear the same present value is closer to Option B.

Learn more about the present value of cash flows here: https://brainly.com/question/24674907

Kansas Enterprises purchased equipment for $76,000 on January 1, 2021. The equipment is expected to have a ten-year service life, with a residual value of $7,200 at the end of ten years. Using the straight-line method, depreciation expense for 2021 would be:

Answers

Answer:

The depreciation expense for 2021 would be: $6,880

Explanation:

Straight line method charges a fixed depreciation charge over the life of asset.

Depreciation Charge = (Cost - Residual Value) / Number of Estimated Useful life

                                   = ($76,000 - $7,200) / 10

                                   = $6,880

The amount of depreciation is charged at fixed amount of $6,880 for each of the years that this asset is in use in the business.

Conclusion :

The depreciation expense for 2021 would be: $6,880

. Gwen is leading a meeting and wants to make sure that they stick to the agenda and end on time. What should she do to move the meeting along? a. Say as much as possible during the meeting. b. Move divergent topics to a separate list to be discussed later. c. Not worry so much about time; the most important thing is to make sure that all agenda items are discussed fully. d. Ask anyone who monopolizes the conversation to leave.

Answers

Answer:

b.

Explanation:

When leading a meeting with many different topics, the best way to move the meeting along faster so that it ends in time is to move divergent topics to a separate list to be discussed later. This would remove the unimportant topics from that specific meeting and allow the very specific important topics to be discussed thoroughly in that meeting, thus moving it along but still being as efficient as possible. The divergent topics can be scheduled to be discussed at a later date when they are of a higher priority.

Nenn Co.'s allowance for uncollectible accounts was $190,000 at the end of 2024 and $200,000 at the end of 2023. For the year ended December 31, 2024, Nenn reported bad debt expense of $26,000 in its income statement. What amount did Nenn debit to the appropriate account in 2024 to write off actual bad debts?

Answers

Answer:

The amount Nenn debited to write off of actual bad debt is $36,000

Explanation:

Allowance for Uncollectible beginning = $200,000

Allowance for Uncollectible at the end = $190,000

Bad debt expense reported = $26,000

Amount Nenn debited to write off of actual bad debt = $200,000 + $26,000 - $190,000 = $36,000

How did industrialization and unionization need to outsourcing

Answers

Answer: It is often assumed that manufacturing workers in developing countries, as recipients of outsourced jobs, would achieve economic benefits and organizational power. The author argues that job growth in developing countries through outsourcing to competing firms has often actually resulted in declining unionization and lower wage rates relative to traditional, integrated manufacturing firms. Using time-series data on union membership from 1980-2003 for Honduras and El Salvador as well as 2004 Household Survey Data for El Salvador, he examines the determinants of unionization rates and wages in the manufacturing sectors. He finds that that competitive outsourcing hurts labor at the plant-level in three ways: 1) it reduces labor's strike leverage by geographically dispersing the production process; 2) it increases the threat of plant mobility by decreasing plant-level investments; and 3) it increases labor costs relative to total costs, which creates an incentive for employers to keep wages low and unions out.

Quality Jewelers uses the perpetual inventory system. On April 2, Quality sold merchandise for $50,000 to a customer on account with terms of 3/15, n/30. The allowances and returns on this sale amounted to $3,000 and $9,000, respectively. The cost of goods sold was $20,000. On April 20, Quality received payment from the customer. Calculate the amount of gross profit.

Answers

Answer:

The Gross profit is $18,000

Explanation:

In order to calculate the amount of gross profit we would have to make the following calculation:

Gross Profit = Sale - Allowance - Sales Returns - Discount - Cost of Goods Sold

Sale=$50,000

Allowance=$3,000

Sales Returns=$9,000

Cost of Goods Sold =$20,000

Discount. As the payment is done after the expiry of 15 days is discount is 0

Gross Profit= $50,000 - $3,000 - $9,000 - 0 - $20,000

Gross Profit= $18,000

The Gross profit is $18,000

Adams operates his $57500 firm using his own equity. Bob operates his firm with $28750 of his own money plus $28750 of debt at a cost of 5 percent interest. Calculate Adams's and Bob's return on equity if their respective businesses produce earnings before interest and tax of $7000. Assume perfect markets.

Answers

Answer:

Adam return on equity is 12.1%. while Bob return on equity is 19.3%

Explanation:

Given that:

Now,

For Adam:

Earnings before interest and taxes (EBIT) = Net income + Interest + Taxes

EBIT = $7000

The equity of shareholders = $57500

The number of debt by which Adams shows no interest expense and no tax expense as perfect market presumed is stated s follows:

ROE = Net income /Average Shareholder Equity

=$7000/$57500

=0.121739

Therefore, Adam return on equity is 12.1%

For Bob

The equity of shareholders = $28750

The expense (interest) = Debt * Interest rate

=$28750 * 0.05

= 1437.5

Thus

Net income = EBIT - Interest

= 7000 -1437.5

=5562.5

Now,

ROE = Net income /Average Shareholder Equity

=5562.5 /$28750

= 0.19347

=19.3%

Therefore, Bob return on equity is 19.3%

Computing investing cash flows
Indicate the effect each separate transaction has on investing cash flows. (Amounts to be deducted should be indicated with a minus sign.) Sold a truck costing $48,000, with $25,200 of accumulated depreciation, for $11,200 cash. The sale results in a $11,600 loss. Sold a machine costing $13,800, with $9,600 of accumulated depreciation, for $8,200 cash. The sale results in a $4,000 gain. Purchased stock investments for $17,600 cash. The purchaser believes the stock is worth at least $33,200.

Answers

Answer: Please refer to Explanation

Explanation:

The Cash Flow Statement was created to ensure that businesses would know just how much hard cash they actually have. This Statement is therefore different from others in that in only records cash when it has been received and/or disbursed thus making it easier for a company to know how much cash it has.

The Investing Section of the Cashflow statement deals with fixed assets as well as transactions involving securities and bonds of other entities as those are investments.

When cash is spent on these transactions it is a Cash Outflow and is therefore subtracted.

When cash is received from such transactions it is considered a cash inflow and is added.

Effects of Above Transactions.

Sold a Truck for $11,200. This will INCREASE the Investing Cash Flow by $11,200.

Sold a Machine for $8,200. This will INCREASE the Investing Cash Flow by $8,200.

Purchased stock investments for $17,600 cash. This will DECREASE the Investing Cash Flow by -$17,600 as it was a cash Outflow.

The Investing Section of the Cash Flow Statement will look like,

Sold a Truck $11,200

Sold a Machine $8,200

Purchased stock investments -$17,600

Net Cashflow from Investing Activities $1,800

Chobani's equipment runs for 10 hours and must be idle for 4 hours while being cleaned. Its plants operate day and night all week long. What are the implications for the company's purchasing, inventory control, scheduling and quality control functions. Your answer should be detailed and well thought out.

Answers

Answer:

For the company's purchasing ;leasing  the machine for the active period i.e 10 hours a day would be cheaper because the cost of cleaning and maintenance would be eliminated

For the company's inventory control; if the company leases the equipment that would reduce it's setup cost keeping its inventory low

For the company's scheduling; scheduling deals with completing a job within a given time and it is very essential to utilize the productive time

For the company's quality control functions; the company has to ensure that in as much as it has to meet its production schedule the quality of the products should be paramount

Explanation:

Running time = 10 hours. Idle time = 4 hours

The implications of the machine:

For the company's purchasing ; since the equipment has to be used everyday and after the 10 hours it will run, it has to be ideal for 4 hours for it to be cleaned and maintained every day. therefore the purchasing department of the company will have to sort for an alternative equipment which would be less expensive and would have less idle time during cleaning and maintenance. but  if this alternative is more expensive, then leasing  the machine for the active period i.e 10 hours a day would be cheaper because the cost of cleaning and maintenance would be eliminated

For the company's inventory control : inventory for every company is the stock of the company that remains unsold and every company should aim to keep this as low as possible and one way is by reducing setup costs and safety cost. if the company leases the equipment that would reduce it's setup cost keeping its inventory low

For the company's scheduling : scheduling deals with completing a job within a given time and it is very essential to utilize the productive time i.e 10 hours  of the equipment in order to avoid unwanted direct and indirect cost.

For the company's quality control functions: As the equipment runs for 10 hours day and night in other to meet up with the production and scheduling the quality of the products might be adversely affected hence the company has to ensure that in as much as it has to meet its production schedule the quality of the products should be paramount

New lithographic equipment, acquired at a cost of $800,000 at the beginning of a fiscal year, has an estimated useful life of five years and an estimated residual value of $90,000. The manager requested information regarding the effect of alternative methods on the amount of depreciation expense each year. On the basis of the data presented to the manager, the double-declining-balance method was selected.

In the first week of the fifth year, the equipment was sold for $135,000.

Required:

1. Determine the annual depreciation expense for each of the estimated five years of use, the accumulated depreciation at the end of each year, and the book value of the equipment at the end of each year by the following methods:

a. Straight-line method

Year Depreciation Expense Accumulated Depreciation, End of Year Book Value, End of Year
1 $ $ $
2 $ $ $
3 $ $ $
4 $ $ $
5 $ $ $
b. Double-declining-balance method

Year Depreciation Expense Accumulated Depreciation, End of Year Book Value, End of Year
1 $ $ $
2 $ $ $
3 $ $ $
4 $ $ $
5 $ $ $
Hide
2. Journalize the entry to record the sale, assuming double-declining balance method is used. If an amount box does not require an entry, leave it blank.

3. Journalize the entry to record the sale, assuming that the equipment was sold for $88,750 instead of $135,000. If an amount box does not require an entry, leave it blank.

Answers

Answer:

a. Straight-line Method :

Year     Depreciation   Accumulated    End of Year Book Value

0          Expense          Depreciation    $800,000

1            $142,000        $142,000          $ 658,000

2           $142,000        $284,000         $ 516,000

3           $142,000        $426,000         $ 374,000

4           $142,000        $568,000         $ 232,000

5           $142,000        $710,000            $90,000

b. Double-Declining-Balance Method:

Year     Depreciation   Accumulated    End of Year Book Value

0          Expense          Depreciation    $800,000

1            $320,000        $320,000        $ 480,000

2           $192,000          $512,000        $ 288,000

3            $115,200         $627,200         $ 172,800

4             $69,120         $696,320         $ 103,680

5             $13,680          $710,000          $90,000

2. Journal entry to record the sale, assuming double-declining balance method:

Debit Cash $135,000

Credit Sale of Equipment $135,000

To record sale of equipment.

Debit Sale of Equipment $103,680

Debit Accumulated Depreciation $696,320

Credit Equipment $800,000

To record close of accumulated depreciation and equipment accounts.

3. Journal entry to record sale, assuming equipment was sold for $88,750:

Debit Cash $88,750

Credit Sale of Equipment $88,750

To record sale of equipment.

Debit Sale of Equipment $103,680

Debit Accumulated Depreciation $696,320

Credit Equipment $800,000

To record close of accumulated depreciation and equipment accounts.

Explanation:

a) Straight-line method of depreciation applies the same amount of depreciation charge over the life of the asset.  It is calculated by subtracting the salvage value from the asset and dividing the resulting figure by the number of useful life in years.  It is very simple, but does not take into consideration maintenance costs incurred as assets age.  Therefore, it does not spread the costs of the asset evenly over the periods the asset is in use, or according to the productivity value of the asset in each period.

b) Declining balance method of depreciation accelerates depreciation charge initially but the annual expense declines with age of the fixed asset.  Under this method, depreciation expense is calculated by applying the depreciation rate to the book value of the asset at the start of the period.

As a toy company produces more toys the average total cost of each toy produced decreases. This is because: total fixed costs are decreasing as more toys are produced. average variable cost is decreasing as more toys are produced. total variable cost is decreasing as more toys are produced. None of the above.

Answers

Answer:

total fixed costs are decreasing as more toys are produced.

Explanation:

Costs are classified as variable or fixed based on their relationship with the level of activity.

At any given level of activity, variable unit costs are constant. However, the unit fixed costs decrease as more units are produced.

Grosheim Incorporated has fixed expenses of $211,500 per year. Right now, Grosheim Incorporated is selling its products for $100 per unit. Management is contemplating a 20% increase in the selling price for the next year. Variable costs are currently 40% of sales revenue and are not expected to change in dollar amount on a per unit basis next year (the company will pay the same amount for variable costs next year). If fixed costs increase 10% next year, and the new selling price per unit goes into effect, how many units will need to be sold to breakeven?

Answers

Answer:

Breakeven in units is 3231

Explanation:

Breakeven units=fixed costs/contribution margin per unit.

new selling price=$100*(1+20%)=$120

variable cost per unit=$120*40%=$48

contribution margin=selling price per unit-variable cost per unit

contribution margin per unit=$120-$48=$72

fixed costs next year=$211,500*(1+10%)=$232,650.00  

breakeven units=$232,650.00/$72=3231

Requirements
1. Record each transaction in the journal using the following account titles: Cash; Accounts Receivable; Office Supplies; Prepaid Insurance; Land; Furniture; Accounts Payable; Utilities Payable; Unearned Revenue; Common Stock; Dividends; Service Revenue; Salaries Expense; Rent Expense; and Utilities Expense. Explanations are not required.
2. T-accounts have been opened for each of the accounts. Post the journal entries to the T-accounts, using transaction dates as ledger accounts. Label the balance of each account Bal posting references in the ledger accounts.
3. Prepare the trial balance of Beth Stewart, Designer, as of November 30, 2018.
Nov.1 Received $41,000 cash and issued common stock to Stewart Nov. 1
4 Purchased office supplies, $1,200, and furniture, $2,300, on account.
6 Performed services for a law firm and received $2,100 cash.
7 Paid $27,000 cash to acquire land to be used in operations.
10 Performed services for a hotel and received its promise to pay the $800 within one week.
14 November 4 on account Paid for the furniture purchased 14 on.
15 Paid assistant's semimonthly salary, $1,470.
17 Received cash on account, $500.
20 Prepared a design for a school on account, $680.
25 Received $1,900 cash for design services to be performed in December.
28 Received $3,100 cash for consulting with Plummer & Gordon.
29 Paid $840 cash for a 12-month insurance policy starting on December 1.
30 Paid assistant's semimonthly salary, $1,470.
30 Paid monthly rent expense, $650.
30 Received a bill for utilities, $650. The bill will be paid next month
30 Paid cash dividends of $2,800.
Post the journal entries to the​ T-accounts, using transaction dates as posting references in the ledger accounts. Label the balance of each account Bal.We will post to the accounts one transaction at a time. Begin by posting the events from the 1st.July​1: Yangcontributed $64,000 cash to the business in exchange for Common Stock.
Date Accounts Debit Credit
Jul.1 Cash 68,000
Commom Stock 68,000

Answers

Journal entries:

Nov. 1, common stocks issued

Dr Cash 41,000

    Cr Common stock 41,000

Nov. 4, office supplies and furniture purchased

Dr Office supplies 1,200

Dr Furniture 2,300

    Cr Accounts payable 3,500

Nov. 6, service revenue

Dr Cash 2,100

    Cr Service revenue 2,100

Nov. 7, land purchased

Dr Land 27,000

    Cr Cash 27,000

Nov. 10, service revenue

Dr Accounts receivable 800

    Cr Service revenue 800

Nov. 14, payment of furniture

Dr Accounts payable 2,300

    Cr Cash 2,300

Nov. 15, wages expense

Dr Wages expense 1,470

    Cr Cash 1,470

Nov. 17, collection of accounts receivable

Dr Cash 500

    Cr Accounts receivable 500

Nov. 20, service revenue

Dr Accounts receivable 680

    Cr Service revenue 680

Nov. 25, received cash in advance

Dr Cash 1,900

    Cr Unearned revenue 1,900

Nov. 28, service revenue

Dr Cash 3,100

    Cr Service revenue 3,100

Nov. 29, purchase prepaid insurance

Dr Prepaid insurance 840

    Cr Cash 840

Nov. 30, wages expense

Dr Wages expense 1,470

    Cr Cash 1,470

Nov. 30, rent expense

Dr Rent expense 650

    Cr Cash 650

Nov. 30, utilities expense

Dr Utilities expense 650

    Cr Accounts payable 650

Nov. 30, dividends distributed

Dr Retained earnings 2,800

    Cr Dividends payable 2,800

Dr Dividends payable 2,800

    Cr Cash 2,800

Since there is not enough space here, I prepared an excel spreadsheet with the T-accounts.

In order to prepare a trial balance sheet, I must first prepare an Income Statement:

Service revenue              $6,680

Wages expense             ($2,940)

Rent expense                   ($650)

Utilities expense              ($650)

Net income:                    $2,440

Retained earnings = $2,440 (net income) - $2,800 (dividends) = ($360)

        STEWART CO.

     BALANCE SHEET

       NOV. 30, 2018

Assets:

Cash $12,070

Accounts receivable $980

Prepaid insurance $840

Office supplies $1,200

Furniture $2,300

Land $27,000

Total assets: $44,390

Liabilities and stockholders' Equity:

Accounts payable $1,850

Unearned revenue $1,900

Common stock $41,000

Retained earnings ($360)

Total liabilities and stockholders' equity: $44,390

Levi Corporation (a U.S. company) has several transactions with foreign entities. Each transaction is denominated in the local currency unit of the country in which the foreign entity is located. On December 2, 20X1, Levi sold confectionary items to a foreign company at a price of 50,000 yen when the direct exchange rate was 1 yen = $1.15. The account has not been settled as of the year ended December 31, 20X1, when the exchange rate had changed to 1 yen = $1.12. The foreign exchange gain or loss on Levi's records at year-end for this transaction will be

Answers

Answer: $1500 loss

Explanation:

From the question, On December 2, 20X1, Levi sold confectionary items to a foreign company by selling at a price of 50,000 yen when direct exchange rate was 1 yen = $1.15.

Sale value in dollar = 50,000 × 1.15

= $57500

The account has not been settled as of the year ended December 31, 20X1, when exchange rate had changed to 1 yen = $1.12.

Sale value in dollar = 50,000 × 1.12

= $56000

Foreign exchange loss:

= $57500 - $56000

= $1500 loss

On January 1, 2021, the Taylor Company adopted the dollar-value LIFO method. The inventory value for its one inventory pool on this date was $470,000. Inventory data for 2021 through 2023 are as follows:
Date Ending Inventory at Year-End Costs Cost Index
12/31/2021 $391,400 1.03
12/31/2022 454,250 1.15
12/31/2023 477,400 1.24
Required: Calculate Taylor's ending inventory for 2021, 2022, and 2023.

Answers

Answer:

Taylor Company ending inventories are

2021= $380600

2022= $397850

2023= $386350

Explanation:

Kindly check attached pdf for the computation of the solution

Perdue found that one of its chicken products may have been contaminated with bacteria, so it pulled it off the shelves and instituted a recall. This potential ethical issue was associated with which element of the marketing mix?
1. product
2. price
3. distribution
4. marketing communications promotion

Answers

Answer:

1. Product

Explanation:

Perdue finding out that one of its chicken products may have been contaminated with bacteria, pulled it off the shelves and instituted a recall.

Hence, this potential ethical issue is associated with product marketing mix because Perdue was very much concerned about the quality level, safety and reliability of his chicken products. This simply means, Perdue is much more interested in producing and selling highly uncontaminated products to it's customers.

A product marketing mix is focused mainly on the products, reason Perdue pulled the chicken products off the shelves and instituted a recall.

This would help to boost confidence among their customers to use more of their products in the future and by extension their market share.

you work at an electronYou work at a local electronics store, Electronics Warehouse. While you are working you spot a customer who appears to place something into their backpack (which you think is an item they haven't paid for). Before they exit the store you yell "STOP THAT THIEF" and another employee tackles the customer at the exit. When the customer is tackled he injures his knee and is spotted by his current boss. You and the employee escort the customer back to the security office and rummage through his backpack, but unfortunately you don't find any evidence that something was stolen, so you release the customer and apologize for the mix-up. The next day the customer returns to his job and is fired for being "a thief" by his boss who witnessed the events at the electronics store the day before. a. Explain in detail what tort theories the customer can sue the Electronics Warehouse. Would he be successful? b. Can you or the other employee be sued for a tort? If so, what tort(s)? c. What defenses would the Electronics Warehouse raise? Would they be successful?

Answers

Answer: The answers are provided below

Explanation:

a. Yes, the customer can sue the Electronics warehouse. The customer was wrongly accused of stealing and was called a thief in front of everyone present in the store. In this case, the customer has lost his reputation.

The customer can be successful because he was called a thief which he wasn't. He got injured due to this and also lost his job. This is a serious misconduct and offense and the customer can be successful if he sue the Electronics company.

b. Yes, the employee and I can be sued for tort as we called him a thief without investigation and injured him. This has led to a big harm for the customer who lost his job due to this issue. With the illegal approach, both the employee and the electronic store can face the legal proceedings asnthey can be sued for major loss for the customer.

c. The Electronic Warehouse can raise the defense that they have apologized to the customer and they can also say that they took the measure to protect their stores from theft.

No, they can't be successful as they easily stop the customer without tackling him and making a mockery of him by calling him a thief. He also lost his job due to this. Hence, this is a serious issue that has created emotional and financial damage for the customer.

Your grandparents would like to establish a trust fund that will pay you and your heirs $130,000 per year forever with the first payment one year from today. If the trust fund earns an annual return of 2.5 percent, how much must your grandparents deposit today

Answers

Answer:

My grandparents deposit $5200000 today.

Explanation:

The annual return earned by trust fund = $2.5 percent

It is given that the trust will pay annually a certain amount for infinite period so annual pay  = $130000 per year.

Now we have to calculate the invested or deposited amount by grandparents today.

The present value of future constant annual payment over infinite period = (P/A, i%, n = infinity) or 1 / i%

The amount that should be deposited today :

[tex]= 130000 \times \frac{1}{2.5 \ percent} \\= 5200000[/tex]

Prince Electronics, a manufacturer of consumer electronic goods, has five distribution centers in different regions of the country. For one of its products, a highspeed modem priced at $330 per unit, the average weekly demand at each distribution center is 70 units. Average shipment size to each distribution center is 350 units, and average lead time for delivery is 2 weeks. Each distribution center carries 2 weeks' supply as safety stock but holds no anticipatory inventory.a. On average, how many dollars of pipeline inventory will be in transit to each distribution center?b. How much total inventory (cycle, safety, and pipeline) does Prince hold for all five distribution centers?

Answers

Answer:

a. $231,000

b. 2,450 units

Explanation:

a. On average, how many dollars of pipeline inventory will be in transit to each distribution center?

This is the inventory level that has to be in transit every 2 weeks in order to meet average demand. This can be calculated as follows:

Pipeline inventory = Number of distribution centers * Price per unit * Average weekly demand * Average delivery lead time = 5 * $330 * 70 * 2 = $231,000.

Therefore, the dollars of pipeline inventory that will be in transit to each distribution center is $231,000.

b. How much total inventory (cycle, safety, and pipeline) does Prince hold for all five distribution centers?

Inventory in hand = Average shipment size *  Number of distribution centers = 350 * 5 = 1,750

Safety inventory = Number of distribution centers * Average weekly demand * Average delivery lead time = 5 * 70 * 2 = 700

Note: Safety inventory is the inventory held in the store for the purpose of meeting rise in demand or for overcoming delay in supply.

Inventory cycle = Inventory in hand - safety inventory = 1,750 - 700 = 1,050

Pipeline inventory = Number of distribution centers * Average weekly demand * Average delivery lead time = 5 * 70 * 2 = 700

Total inventory held = Inventory cycle + Safety inventory + Pipeline inventory = 1,050 + 700 + 700 = 2,450 units.

Therefore, the total inventory (cycle, safety, and pipeline) Prince holds for all five distribution centers is 2,450 units.

Marx and Springsteen provides​ hair-cutting services in the local community. In February, the business cut the hair of 200 ​clients, earned $ 5,100 in​ revenues, and incurred the following operating​ costs:

Hair saloon expense: $500
Building rent expense: 1458
Utilities expense: 200
Depreciation expense--- Equipment: 50

Required:
What was the cost of service to provide one haircut?

Answers

Answer:

Cost of service to provide one haircut is $ 11.04

Explanation:

Hair saloon expense: $500

Building rent expense: $1,458

Utilities expense: $200

Depreciation expense --- Equipment: $50

Total operating cost = Hair saloon expense + Building rent expense + Utilities expense + Depreciation expense

= $500 + $1,458 + $200 + $50

= $ 2,208

Total hair cuts = 200

Therefore, cost per hair cut = Total operating cost ÷ Total hair cuts

= $2,208 ÷ $200

=  $ 11.04

Lucido Products markets two computer games: Claimjumper and Makeover. A contribution format income statement for a recent month for the two games appears below:
Claimjumper Makeover Total
Sales $106,000 $53,000 $159,000
Variable expenses 32,800 6,950 39,750
Contribution margin $73,200 $46,050 119,250
Fixed expenses 82,575
Net operating income $36,675
Requirement:
1: Compute the overall contribution margin (CM) ratio for the company.
2: Compute the overall break-even point for the company in sales dollars.
3: Verify the overall break-even point for the company by constructing a contribution format income statement showing the appropriate levels of sales for the two products.

Answers

Answer and Explanation:

1. The computation of overall contribution margin ratio is shown below:-

Overall contribution margin ratio = Total contribution ÷ Total sales

= $119,250 ÷ $159,000  

= 75%

2. The computation of overall break-even point for the company in sales is shown below:-

Overall Break even = Fixed costs ÷ Contribution margin  

= $82,575 ÷ 75%

= $110,100

3. The overall break-even point for the company by constructing a contribution format income statement showing the appropriate levels of sales for the two products is shown below:-

here, Sales at Break even in the ratio will be 2:1

Particulars      Claimjumper       Makeover        Total  

Sales                $106,000               $53000      $159,000

($106,000 ÷ $159,000 × $110,100)   ($53,000 ÷ $159,000 × $110,100)    

Break even

sales                  $73,400                $36,700        $110,100

Particulars              Claimjumper       Makeover        Total

Sales                        $73,400             $36,700        $110,100

Variable expense     $22,712              $4,813           $27,525

Contribution margin  $50,688             $31,887       $82,575

Fixed expense                                                             $82,575

Net operating income                                                    0

Working Note

Variable expense for Claimjumper = Variable expenses ÷ Sales × Break even sales

= $32,800 ÷ $106,000 × $73,400

= $22,712  

Variable expense for  Makeover = Variable expenses ÷ Sales × Break even sales

= $6,950 ÷ $53,000 × $36,700

= $4,813

A company’s trial balance included the following account balances: Accounts Payable $ 19,207 Accounts Receivable 81,336 Cash 73,324 Income Tax Payable 3,512 Inventory 25,816 Note Payable, due in two years 1,709 Equipment 54,128 Stockholders’ Equity 202,808 Supplies 5,512 Wages Payable 12,880 What is the amount of the current ratio? (Round your answer to 2 decimal places.)

Answers

Answer:

5.22

Explanation:

The formula for calculating the current ratio is as follows:

Current ratio = Current assets / Current liabilities .......... (1)

From the question, we have:

Current assets = Accounts Receivable + Cash + Inventory + Supplies = $81,336 + $73,324 + $25,816 + $5,512 = $185,988.

Note: Equipment is not a current asset but a fixed asset.

Current liabilities = Accounts Payable + Income Tax Payable + Wages Payable = $19,207 + $3,512 + $12,880 = $35,599.

Note: Note Payable, due in two years is not a current liability but a long term liability since it is not payable within one year.

Substituting the values into equation (1) we have:

Current ratio = $185,988 / $35,599 = 5.22

The current ratio of 5.22 indicates that the company more than enough current assets, 5.22 times, to pay of its current liabilities.

In 2021, the Marion Company purchased land containing a mineral mine for $1,150,000. Additional costs of $448,000 were incurred to develop the mine. Geologists estimated that 310,000 tons of ore would be extracted. After the ore is removed, the land will have a resale value of $110,000.

To aid in the extraction, Marion built various structures and small storage buildings on the site at a cost of $102,300. These structures have a useful life of 10 years. The structures cannot be moved after the ore has been removed and will be left at the site. In addition, new equipment costing $51,500 was purchased and installed at the site. Marion does not plan to move the equipment to another site, but estimates that it can be sold at auction for $5,000 after the mining project is completed.

In 2021, 41,000 tons of ore were extracted and sold. In 2022, the estimate of total tons of ore in the mine was revised from 310,000 to 397,500. During 2019, 71,000 tons were extracted, of which 51,000 tons were sold.

Required:

a. Compute depletion and depreciation of the mine and the mining facilities and equipment for 2018 and 2019. Marion uses the units-of-production method to determine depreciation on mining facilities and equipment.
b. Compute the book value of the mineral mine, structures, and equipment as of December 31, 2019.

Answers

Answer:

Marion Company

a1) Depletion of the Mine for two years:

2018: 41,000/310,000 * $1,488,000 = $196,800

2019: 51,000/397,500 * $1,488,000 = $190,913

a2) Depreciation of Mining Facilities:

2018: 41,000/310,000 *$102,300 = $13,530

2019: 51,000/397,500 * $102,300 = $13,125

a3) Depreciation of Mining Equipment

2018: 41,000/310,000 *$46,500 = $6,150

2018: 51,000/397,500 * $46,500 = $5,966

b) Book Values December 31, 2019:

1) Mineral Mine:

Cost = $1,598,000

Accumulated Depletion $387,713 (2018 & 2019)

Book Value = $1,210,287

b2) Structures:

Cost = $102,300

Accumulated Depreciation $26,655 (2018 & 2019)

Book Value = $75,645

b3) Equipment:

Cost = $51,500

Accumulated Depreciation $12,116

Book Value = $39,384

Explanation:

a) Cost of Mine:

Land              $1,150,000

Development $448,000

Less Resale    ($110,000)

Total cost =  $1,488,000

b) Cost of Facilities or Structure:

Building cost = $102,300

c) Cost of Equipment = $51,500 - $5,000 = $46,500

d) Depletion is an accrual accounting technique used to allocate the cost of extracting natural resources.  It is like depreciation and amortization, which lower the cost value of an asset incrementally through periodic charges to income.

e) Depreciation is an accounting method for allocating the cost (the value used up) of a tangible or physical asset over its useful life.

Murphy Printers ​(MP) manufactures printers. Assume that MP recently paid $ 500 comma 000 for a patent on a new laser printer. Although it gives legal protection for 20​ years, the patent is expected to provide a competitive advantage for only eight years.
Requirements
1. Assuming the​ straight-line method of​ amortization, make journal entries to record​ (a) the purchase of the patent and​ (b) amortization for the first full year.
2. After using the patent for four ​years, MP learns at an industry trade show that another company is designing a more efficient printer. On the basis of this new​ information, MP​ decides, starting with year 5​, to amortize the remaining cost of the patent over two remaining​ years, giving the patent a total useful life of six years. Record amortization for year 5.

Answers

Answer: The answer is given below

Explanation:

1. The journal entries to record​ the purchase of the patent and​ the amortization for the first full year has been solved and attached.

2. The amortization expense of he 4 years will be:

= $62500 × 4

= $250,000

Therefore, the book value of the patent will be:

= Cost of the patent - amortization expense

= 500,000 - 250,000

= $250,000

Amortization for year 5 = Book value/Estimated useful life remaining

= 250,000/2

= $125,000

The journal for the amortization expense for year 5 has been attached

To sum up international trade theory, we can say that the primary reason for trade is

Answers

Answer:

The primary reason for trade is for the economic development of a country.

Explanation:

Trade makes a significant and necessary contribution to the economy and the country's development particularly in underdeveloped countries. The rapid progress of underdeveloped countries in the Industrial field is due to their exports. In most countries, such would represent a significant share of their gross domestic product (GDP).

On May 1, 2021, Bonita Industries declared and issued a 10% common stock dividend. Prior to this dividend, Bonita had 195000 shares of $1 par value common stock issued and outstanding. The fair value of Bonita's common stock was $24 per share on May 1, 2021. As a result of this stock dividend, Bonita's total stockholders' equity:______
a. decreased by $480700.
b. increased by $480700.
c. did not change.
d. decreased by $23000.

Answers

Answer:

No Answer in Option but the Equity decreases by $468,000

Explanation:

From the question,

Common Stock that Bonita industries had at par $1 = $195,000

They issued a common stock dividend= 10%

The Value of Stock dividend = 10/100 * 195,000 = $19,500

The fair value of Bonita's common stock was $24 per share on May 1, 2021. Hence, the stock dividend will be 19,500 * 24 = $468,000

We must understand that Stock dividend are issued from Retained Earning, hence as a result of this stock dividend, Bonita's total stockholder equity decreased by $468,000

Chow Publications Inc. is a publicly traded media company focused on products for the home chef market. The company publishes a monthly magazine that can be purchased at newsstands and is available for annual subscriptions (either paper copy or digital copy). Chow Publications sells annual subscriptions for S50 (paper copies) or $40 (digital copies). Subscriptions are paid in advance and are non-cancellable. Chow sold for cash 1 15,000 subscriptions on December 1, 2020, of which 30% were digital subscriptions. Single issues can be purchased on newsstands. Chow Publications uses various magazine distributors across Canada to rack it at newsstands, charging the newstands $5 per copy Normally 25,000 copies are sent out each month, with 15% of these being returned unsold. Of the 25,000 magazines sent out in December 2020, all were sold on account, and none of the returned magazines are expected to be resold and, as a result, are sent to recycling. Unsold nagazines are returned by newstands in the following month.
Required
a. Determine how much revenue Chow Publications would be able to recognize in December 2020. Use the five-step model for revenuc recognition in preparing your responsc. Round the per magazine price to three decimal places. ic. S4.965
b. Prepare the required summary journal entries for the contract based on your analysis in part "a."

Answers

Answer:

A. $575,415.67

B.

Dr Cash $575,415.67

Cr Revenue from sales $575,415.67

Explanation:

Chow Publications Inc

A.

Revenue recognition it stated that a five step model is been developed to help recognized the revenue from sale of goods and service to customer which is why revenue should be recognized by

1. Identify the contract with customer in which both the seller and buyer are agreed for the contract and must know their rights and obligation in the contracts.

2. Obligation of performance in contract : In above contract the seller know that he has to deliver the content of magazine and the buyer as well know the price for such goods.

The $ 115,000 subscription received are:

$80,500 for paper form and $34500 for digital form and $25,000 copied are been sold out at news stands.

3. Determine the transaction price in which $50 is for the paper copy and $40 is for the digital copy and $ 5 is for copy which is sold at news Stands.

4. Allocation of transaction price to performance obligation will be by calculating the revenue from the transaction and by applying the rate of performance obligation which is why the Total revenue was $ 575,416.67.

5. Recognizing the revenue in the books occured in a situation where the risk and rewards which relate to the ownership of the goods has been passed which led to the customer been satisfied which inturn means that there is no uncertainty regarding the creation of performance obligation on buyer.

Chow Publications Inc

A.

Total Revenue

Online subscription

Paper form $335,415.67

Online form $115,000.00

$450,415.67

Add Copy at News Stand $125,000

Total $575,415.67

B. Journal entry

Dr Cash $575,415.67

Cr Revenue from sales $575,415.67

Monthly share in Annual Revenue

Annual rate Monthly rate

Paper form $50 4.17

Digital rate $40 3.33

Distribution of subscription total received $115,000

Paper rate 70% ×$115,000

= $80,500

Digital rate 30% ×115,000

= $34,500

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