SmartTalk, Inc, makes and markets cell phones and related accessories. When problems develop with SmartTalk products or sales, the company may be liable in product liability for any of the following except:___________A) a manufacturing defectB) a design defect.C) an inadequate warning.D) an ineffective marketing plan.

Answers

Answer 1

Answer:

D) an ineffective marketing plan.

Explanation:

Product liability is defined as the liability that manufacturer bears when he puts defective product in the hands of the consumer.

Manufacturers are liable for damages that occur from the use of their products. They are also responsible for providing adequate instructions on use of the product and warning of adverse effects a user can experience.

SmartTalk, Inc produces cell phones and related accessories. They have product liability when there is a manufacturing defect, design defect, and inadequate warning on use of the product.

However the company does not have product liability for ineffective marketing as this is related to how well the company sells the product and not if the product is defective.


Related Questions

Trademark dilution laws: Select one: a. protect "distinctive" or "famous" marks from unauthorized uses even when confusion is not likely to occur. b. are intended at protecting consumers rather than focusing on protecting the investment of trademark owners. c. permit a company to quickly penetrate a foreign market without incurring the substantial financial and legal risks associated with direct investment. d. require the licensee to transfer any inventions it derives from the licensed technology to the licensor.

Answers

Answer:

a. protect "distinctive" or "famous" marks from unauthorized uses even when confusion is not likely to occur.

Explanation:

Trademark dilution laws are rules and regulations that seek to protect the trademarks of well known brands from unauthorized use by other brands, in such a way that the distinctive attribute of the trademark is minimized. Trademark dilution laws are meant to ensure that the main purpose for which a product's trademark is known is meant to stand out significantly in the mind of consumers.

Smaller companies might want to copy the trademark of famous brands for their products which might be different. These laws seek to prevent this act even if it may not cause confusion in the minds of consumers as to which brand owns a product.

Dividends Per Share Windborn Company has 25,000 shares of cumulative preferred 3% stock, $50 par and 50,000 shares of $15 par common stock. The following amounts were distributed as dividends:
Y1 $75,000
Y2 15,000
Y3 112,500
Determine the dividends per share for preferred and common stock for each year. The stock outstanding when a corporation has issued only one class of stock.common stock for each year.
Preferred Stock Common Stock
(dividend per share) (dividend per share)
Year 1 $ $
Year 2 $ $
Year 3 $ $

Answers

Answer:

                          Preferred Stock              Common Stock

                     (dividend per share)        (dividend per share)

Year 1                        $1.50                                    $0.75

Year 2                       $0.60                                   $0.00

Year 3                       $2.40                                    $1.05

Explanation:

For Year 1:

Total dividend distributed = $75,000

Preferred shareholders' dividend = $50 * 25,000 * 3% = $37,500

Preferred shareholders' dividend per share = $37,500 / 25,000 = $1.50

Common stockholders' dividend = Total dividend distributed - Preferred shareholders' dividend = $75,000 - $37,500 = $37,500

Common stockholders' dividend per share = $37,500 / 50,000 = $0.75

For Year 2:

Total dividend distributed = $15,000

Dividend payable to preferred shareholders = $50 * 25,000 * 3% = $37,500

Dividend paid to preferred shareholders = $15,000

Preferred shareholders' dividend per share = $15,000 / 25,000 = $0.60

Preferred shareholders' dividend carried forward = Dividend payable to preferred shareholders - Total dividend distributed = $37,500 - $15,000 = $22,500

Common stockholders' dividend = $0

Common stockholders' dividend per share = $0

For Year 3:

Total dividend distributed = $112,500

Total dividend paid to preferred shareholders = $37,500 + Preferred shareholders' dividend carried down from Year 2 = $37,500 + $22,500 = $60,000

Preferred shareholders' dividend per share = $60,000 / 25,000 = $2.40

Common stockholders' dividend = Total dividend distributed - Total dividend paid to preferred shareholders = $112,500 - $60,000 = $52,500

Common stockholders' dividend per share = $52,500 / 50,000 = $1.05

Wrong Meds, Again! “It was horrible,” said the distraught client. “No matter how many times I provided the information, no one listened to me. And they obviously didn’t listen to each other either, because they used the wrong meds . . . again.” “Okay, calm down. Now tell me what happened from the beginning,” urged Melanie Torrent, the Quality Assurance Manager for Hope Memorial Hospital. “I got a call at work saying my father was being taken to the hospital from the nursing home. The nursing home always sends a list of medications with the ambulance, but when I got to the emergency room, they were asking my dad what medications he was taking. Of course my dad told them he wasn’t taking any medications and they believed him! He’s sent to the emergency room from a nursing home and they decide it’s reasonable for him not to be on any medications . . . so of course I corrected him and told them to find the medication list. I don’t know whether the ambulance driver forgot to bring in the list, or gave it to the wrong person, or what, but they couldn’t find it. My dad must be on 12 different medications so I wasn’t sure I could remember them correctly. I called the nursing home and we went over the list with them, and then I gave the handwritten list to the nursing station. In the meantime, my dad was admitted to the hospital and moved to a hospital room. Again, a nurse came in with a computer and asked me to tell them what meds he was talking. I tried to tell them that the emergency room had the list, but she said it would be the next morning before the list got updated online. Nevertheless, the nurse called down to the emergency room and was faxed up the list of medications. Only the fax was unreadable, so they came back to me. It was a few hours before his next meds were due, so I drove over to the nursing home, had them make several legible copies of the meds list and drove back to the hospital. I gave the nurse the list, kept one for myself and posted the other on the bulletin board in my dad’s room. The nurse thanked me and said she’d take care of it at the end of her shift. After a long night at the hospital, I woke up the next morning to see my dad hallucinating. I knew immediately what had happened—there’s a certain drug that he has this reaction to. I ran down to the nurse’s station and had her look up the medications he had been given. Sure enough, it was there, along with several other medications he should no longer be taking. Turns out, the list was from two years ago when he had last been admitted to the hospital! How could they have made that kind of mistake—using data from two years ago?” “That is something we’ll look into. More importantly, has your father been taken off the drug?” “Yes.” “And has the medication list been corrected?” “Yes.” “And how is he doing today?” “Fine today, but it could have been more serious and I think you should look into changing your procedures so this doesn’t happen again . . .” “I appreciate you bringing this to my attention. I will speak to the persons involved and I assure you this will not happen again. Hope Memorial prides itself on being a caring and responsible health care provider. Now if you’ll excuse me, I have another client to see . . .” 1. Trace the path of the medication list and denote possible failure points. Construct a process flowchart of the existing process and create a new chart of an improved process. 2. Was the medication error a failure of individuals or a failure of the process? Explain. 3. Think about the different settings, the ambulance, the emergency room, the hospital room, and the nurse’s station. How is data handled in each scenario? Can the process of recording information be changed so that every one is using the same data? How can the accuracy of the data be assured? 4. Given Melanie’s reaction, do you think this error will happen again? Why or why not?

Answers

Answer:

Explanation:

no it will not happen agian because she learned from her mistake!

Isabella files her income tax return 35 days after the due date of the return without obtaining an extension from the IRS. Along with the return, she remits a check for $40,000, which is the balance of the tax she owes.Note: Assume 30 days in a month.Disregarding the interest element, enter Isabella's failure to file penalty and and failure to pay penalty.

Answers

Answer:

a. Failure to pay penalty = 400

b. Failure to file penalty = $4,000

Explanation:

The monthly rate for failure to pay penalty is 0.5% while the failure to file penalty.

Since it is assumed that there are 30 days in a month, the 35 days after the due date of the return without obtaining an extension from the IRS is will be counted as 2 months regardless of the fact that the second month is just 5 files when she filed.

Therefore, we have:

a. Failure to pay penalty = $40,000 * 0.5% * 2 = 400

b. Failure to file penalty = ($40,000 * 5% * 2) = $4,000

c. Total penalties = (Failure to file penalty - failure to pay penalty for the same period) + Failure to pay penalty = ($4,000 - $400) + $400 = $4,000.

Therefore, the total penalty Isabella will pay is $4,000.

Blythe Company has provided the following​ information: Sales price per unit ​$40 Variable cost per unit 18 Fixed costs per month ​12,800 What is the amount of sales in dollars required for Blythe to break​ even? (Round any percentages to two decimal places and your final answer to the nearest​ dollar.)

Answers

Answer:

Break-even sales in dollars = $23,273

Explanation:

The break-even point is the selling price at which the selling price, equals the cost of production. no profit is made, but no loss is incurred too.

we will use the formula for calculating required selling price, to calculate the break-even price as follows:

Required selling price =  (Fixed costs + Target profit) ÷ (Contribution margin ratio)

Contribution margin ratio = Contribution margin ÷ net sales revenue

Contribution margin = sales price - variable cost

contribution margin = 40 - 18 = $22

Net sales revenue = $40

∴ contribution margin ratio = (Contribution margin ÷ net sales revenue) × 100

= 22 ÷ 40 = 55.00% = 0.55

∴ Required selling price = (Fixed costs + Target profit) ÷ (Contribution margin ratio)

Required selling price = (12,800 + 0) ÷ 55.00%

= 12,800 ÷ 0.55 = 23,272.7 = 23,273 (to the nearest dollars)

Break-even sales in dollars = $23,273

Find the value of C, which makes the following two cash flow series equivalent. Assume that the market interest rate is 6% per year. Note: There are multiple approaches to solving this problem so be sure to consider the computational efficiencies of each approach before starting! $400 $400 $400 $400 $400 $125 $125 0 1 2 3 4 5 6 7 o 1 2 3 4 5 6 7 -$250 $250 $250

Answers

Answer:

Find attached complete question.

$ 750.10  

Explanation:

In order to ascertain the value of C ,we need to equate the present value of the two streams of cash flows to each other as follows:

first stream:

$400/(1+6%)^1+$400/(1+6%)^2+$125/(1+6%)^3+$400/(1+6%)^4+$400/(1+6%)^5+$125/(1+6%)^6+$400/(1+6%)^7=$1,808.19  

Second stream:

C/(1+6%)^1+C/(1+6%)^2-$250/(1+6%)^3-$250/(1+6%)^4-$250/(1+6%)^5+C/(1+6%)^6+C/(1+6%)^7

-$250/(1+6%)^3-$250/(1+6%)^4-$250/(1+6%)^5=-$594.74

C/(1+6%)^1+C/(1+6%)^2+C/(1+6%)^6+C/(1+6%)^7=C/0.9434+C/0.8900+C/ 0.7050+C/ 0.6651  

simplification

C/0.9434+C/0.8900+C/ 0.7050+C/ 0.6651=C/(0.9434+0.8900+0.7050+0.6651)= 0.31216C

All in all:

$1,808.19 =-$594.74+ 0.31216C

$1,808.19+$594.74= 0.31216C

$2402.93 = 0.31216C

C=$2402.93* 0.31216  =$ 750.10  

when ups invested in a foreign tech startup , ally commerce inc ., to give ups greater access to online sales,it was exemplifying

Answers

Answer:

Direct Investment is the correct answer to the given question .

Explanation:

The Direct investment is also known as direct foreign investment. In the Direct investment People invested the money into the company that operates in  the some other country.

The main objective of direct investment  to get the powerful presence in the business processes also the lengthy-term existence in the different nation.As the UPS participated in the Ally Commerce Inc i.e a global tech startup, to offer it better exposure to online purchasing it is example of direct investment .

Real-Balances Effect Household Expectations Interest-Rate Effect Personal Income Tax Rates Profit Expectations National Incomes Abroad Government Spending Answer the question based on the accompanying list of factors that are related to the aggregate demand curve. Changes in which two of the factors would most likely cause a shift in aggregate demand due to a change in consumer spending.

Answers

Answer: Household Expectations

Personal Income Tax Rates

Explanation:

The Aggregate Demand curve can shift as a result of Consumer Spending, Government Spending, Investment Spending or Net Export spending.

When the AD shifts due to a change in Consumer Spending, the reasons are usually related to individuals in the economy including Households.

One of the reasons there may be a shift is due to changes in Household Expectations.

If a Household expects an Economic variable such as Inflation to change in the future, it might inspire them to act now to take advantage of it. For example, if a Household expects that car prices will rise in future, they may decide to buy a car now instead so as not to pay a higher amount in future thus increasing demand and shifting the AD curve Right.

Another reason could be the Personal Income Tax rate. Taxes reduce the amount that people have after they are paid. A change in personal income tax rates therefore is a change in people's income. If Personal Tax rates were to reduce for instance, that would mean that people would have more money to spend and they might consume this extra money. This would increase Consumption and therefore shift the AD curve Right.

Skilled versus unskilled labor markets Consider the labor markets for unskilled workers and skilled workers in the United States. Suppose you read the following newspaper headline: "The U.S. Department of Education Issues Report on Increased Productivity Effects of a College Education, but College Enrollment Remains Constant." The previous scenario primarily affects the labor market for ______ workers.

Answers

Answer: Skilled Workers.

Explanation:

Skilled workers refers to those with the skills and abilities required to work in their various tasks. Often these skills are gained from tertiary level institutions such as Universities, Colleges or Technical Schools.

When the report speaks of how having a college education leads to increased productivity, it is targeting skilled workers who as the definition states, have probably gone to College or Universities and the like.

This report will increase the labour market for skilled college education holders as companies might want to hire them more to gain from the reported increased productivity.

Ace Ventura, Inc., has expected earnings of $5 per share for next year. The firm's ROE is 15%, and its earnings retention ratio is 40%. If the firm's market capitalization rate is 10%, to the nearest dollar what is the present value of its growth opportunities

Answers

Answer: $25

Explanation:

Value with no growth = Expected earnings/Market capitalization rate

= $5/10%

= $5/0.1

= $50

Growth rate = Earnings retention ratio × ROE

Growth rate = 40% × 15%

= 40/100 × 15/100

= 0.4 × 0.15

= 0.06 = 6%

Value with growth = [$5 × (1-0.4)]/(0.10 - 0.06)

= ($5 × 0.6)/0.04

= $3/0.04

= $75

Present value of growth opportunities will now be:

= Value with growth - value with no growth

= $75 - $50

= $25

As of December 31, 2019, Armani Company’s financial records show the following items and amounts. Cash $ 10,300 Accounts receivable 9,300 Supplies 6,300 Equipment 5,300 Accounts payable 11,600 Common stock 14,300 Retained earnings, Dec. 31, 2018 3,300 Retained earnings, Dec. 31, 2019 5,300 Dividends 13,300 Consulting revenue 33,600 Rental revenue 22,600 Salaries expense 20,300 Rent expense 12,300 Selling and administrative expenses 8,300 Required: Prepare the 2019 year-end income statement for Armani Company.

Answers

Answer:

Net income is $15,300

Explanation:

The income statement for Armani Company as at 31st December is shown below:

                                                          $                                 $

Consulting revenue                                                      33,600.00

Rental revenue                                                             22,600.00

Total revenue                                                                 56,200.00  

Salaries expense                              20,300.00

rent expense                                      12,300.00

selling and administrative expense  8,300.00

Total expenses                                                          (  40,900.00 )

Net income   for the year                                             15,300.00  

The net income is total revenue less all expenses incurred in the year.

The total revenue comprises of consulting and rental revenue while expenses consist of salaries,rent as well as selling and administrative expenses.

Letts Corporation manufactures and sells a single product. The company uses units as the measure of activity in its budgets and performance reports. During January, the company budgeted for 7,000 units, but its actual level of activity was 6,970 units. The company has provided the following data concerning the formulas to be used in its budgeting: Fixed element per month Variable element per unit Revenue − $ 30.40 Direct labor $ 0 $ 6.10 Direct materials 0 8.70 Manufacturing overhead 46,700 1.80 Selling and administrative expenses 27,800 0.20 Total expenses $ 74,500 $ 16.80 The selling and administrative expenses in the planning budget for January would be closest to:

Answers

Answer:

Total Selling and administrative expenses $29200

Explanation:

Letts Corporation Manufacturers

Fixed element per month             Variable element per unit

Revenue − $ 30.40

Direct labor $ 0                                        $ 6.10

Direct materials 0                                       8.70

Manufacturing overhead 46,700                 1.80

Selling & admin. expenses 27,800             0.20

Total expenses $ 74,500                        $ 16.80

We multiply the variable cost per unit with the planned number of units to get the variable budgeted cost. Fixed cost will however remain unchanged.

Cost = Fixed Cost + Variable Cost per unit * No Of units

Fixed Selling and administrative expenses $ 27,800

Variable Selling and administrative expenses  0.20*7000= $ 1400

Total Selling and administrative expenses $29200

Montana Mining Co. pays $3,721,000 for an ore deposit containing 1,525,000 tons. The company installs machinery in the mine costing $213,500, which will be abandoned when the ore is completely mined. Montana mines and sells 166,200 tons of ore during the year. Prepare the year-end entries to record both the ore deposit depletion and the mining machinery depreciation. Mining machinery depreciation should be in proportion to the mine’s depletion.

Answers

Answer:

Ore deposit depletion and Mining machinery depreciation Journal entries

Dr Depletion charge (Ore deposits) 405,528

Cr Accumulated depreciation 405,528

Dr Depletion charge (Ore deposits) 23,268

Cr Accumulated depreciation 23,268

Explanation:

Preparation of the year-end entries to record both the ore deposit depletion and the mining machinery depreciation of Montana Mining Co

Depletion of natural resources can be defined as the way in which the cost of natural resources is apportioned upto the period when it will be utilized which is why they are shown at cost in balance sheet.

The entry is to record depreciation charged on ore deposit depletion. Therefore To record this entry we have to debit depletion charges, and credit accumulated depreciation

Dr Depletion charge (Ore deposits) 405,528

Cr Accumulated depreciation 405,528

Computation of depletion cost per unit:

The depletion cost per unit can be calculated by dividing the net cost of the ore with the total units of capacity :

Depletion/units = Cost - Salvage/ Total unit of capacity

$3,721,000/1,525,000 tons

=$2.44

Hence, depletion per unit is $2.44.

Computation depletion amount on ore deposit:

The depletion amount on ore deposit can be calculated by multiplying the cost per depletion unit with the number of units utilized:

Depletion =Cost/Unit ×Units Utilized

$2.44×166,200 tones

=$405,528

Hence, depletion expenses on ore deposit amounts to $405,528.

The pass entry to record depreciation charged on mining machine :

Dr Depletion charge (Ore deposits) 23,268

Cr Accumulated depreciation 23,268

Computation of depreciation cost per unit:

The depletion cost per unit can be calculated by dividing the net cost of the ore with the total units of capacity :

Depletion/units = Cost - Salvage/ Total unit of capacity

$213,500/1,525,000 tons

=$0.14

Hence, depreciation per unit is $0.14.

Computation of depreciation amount on ore deposit:

The depletion amount on ore deposit can be calculated by multiplying the cost per depletion unit with the number of units utilized:

Depletion =Cost/Unit ×Units Utilized

$0.14×166,200 tones

=$23,268

Therefore the depreciation expenses on ore deposit amounts to $23,268

The budgeted income statement presented below is for Burkett Corporation for the coming fiscal year. If Burkett Corporation achieves the budgeted level of sales, what will be its margin of safety in dollars?

Answers

Answer:

Margin Of Safety= $275,862

Explanation:

We can calculate the margin of safety easily by the formula given below

Formula: Margin of safety = Budgeted sales - Breakeven sales

As breakeven sales are not given in the data Firstly we need to find out break even sales in order to calculate margin of safety

Breakeven sales=  [tex]\frac{Total fixed cost}{Contribution margin ratio}[/tex]

As you can see in the data fixed cost s given but contribution margin ratio is not

Contribution margin(Sales revenue - All variable cost)= $1,000,000 - ($270,000 + $240,000 + $150,000 + $50,000) = $1,000,000 - $710,000 = $290,000

Sales price per unit = Total sales/Number of units sold

Sales price per unit=  $1,000,000/50,000 = $20

Budgeted contribution margin= $290,000/50,000 = $5.80

Contribution margin ratio = Budgeted contribution margin per unit/Sales price per unit

Contribution margin ratio = $5.80/$20 = 29%

Lets put values in breakeven formula to find breakeven sales

Breakeven sales=  [tex]\frac{Total fixed cost}{Contribution margin ratio}[/tex]

Breakeven sales=[tex]\frac{210000}{0.29}[/tex]

Breakeven sales= $724,138

Now we have both budgeted sales and breakeven sales, we can  easily calculate e of safety

Margin of safety = $1,000,000- $724,138

Margin of safety = $275,862

A firm is considering two mutually exclusive projects, X and Y, with the following cash flows: 0 1 2 3 4 Project X -$1,000 $100 $320 $400 $700 Project Y -$1,000 $1,000 $110 $55 $45 The projects are equally risky, and their WACC is 13%. What is the MIRR of the project that maximizes shareholder value

Answers

Answer:

Project X maximizes shareholder value (highest NPV) and has a MIRR of 14.27%.

Explanation:

year       cash flow project X          cash flow project Y

0                   -1,000                             -1,000

1                        100                               1,000

2                      320                                   110

3                      400                                   55

4                      700                                   45

WACC = 13%

Using an excel spreadsheet I calculated the projects' NPV, IRR and MIRR

                                                        NPV         IRR     MIRR

project X                                        $45.65      15%    14.27%

project Y                                        $36.82      16%    14.03%  

The modified internal rate of return (MIRR) considers that the project's cash inflows are invested at the company's WACC and the initial investment is financed at a certain debt rate (in this case the same WACC).

Revise the following sentences to emphasize the perspective of the audience and the "you" view.
1. To help us process your order with our new database software, we need you to go to our website and fill out the customer information required.

Answers

Answer:

You are required to go to our website to fill out the required customer information.  This will help us process your order.

Explanation:

The customer or client does not need to be informed of the existence of our new database software.  We can simply request the customer to fill out the enclosed form by going to our website.  This approach is more business-like and courteous.  It emphasizes the customer as the subject and what the customer is required to do.  The focus is shifted to the customer and not to the company.  The customer learns immediately that his or her actions (going to the website and filling the form) are in their own interest.

Hot and Cold has annual sales of $847,000, annual depreciation of $47,000, and net working capital of $43,000. The tax rate is 21 percent and the profit margin is 7.3 percent. The firm has no interest expense. What is the amount of the operating cash flow

Answers

Answer:

The amount of the operating cash flow is $108,831

Explanation:

In this question, we are tasked with calculating the amount of the operating cash flow.

Firstly, we calculate the net income.

Mathematically, net income = Sales × %  profit margin

From the question, sales = $847,000

% profit margin = 7.3% = 7.3/100 = 0.073

Net income = $847,000 × 0.073 = $61,831

Finally, Operating cash flow = Net income + Depreciation

From the question, depreciation = $47,000

Plugging this alongside the net income,

Operating cash flow = $61,831 + $47,000 = $108,831

The current sections of Birmingham Inc.’s balance sheets at December 31, 2019 and 2020, are presented here. Birmingham’s net income for 2020 was $193,000. The income statement included depreciation expense, $25,000, amortization expense, $10,000, and a gain on disposal of equipment, $7,000. The equipment was sold for $47,000. Birmingham also issued bonds for $60,000. 2020 2019Current assets Cash $417,000 $ 99,000 Accounts receivable 120,000 93,000Inventory 159,000 176,000Prepaid expenses 29,000 24,000Total current assets $725,000 $392,000 Current liabilities Accrued expenses payable $ 17,000 $ 6,000 Accounts payable 88,000 94,000Total current liabilities $105,000 $100,000 InstructionsPrepare the net cash provided by operating activities section of the company’s statement of cash flows for the year ended December 31, 2020 using the indirect method.

Answers

Answer:

Net Income 193,000

Non-monetary terms:

Depreciation expense    25,000

amortization expense       10,000

gain on disposal               (7,000)  

Adjusted Income            221,000

Change in Working Capital:

Increase in A/R        (27,000)

Decreasein Inv          17,000

Increase in Prepaid   (5,000)

Increase Accrued /P   11,000

Decreasein A/P         (6,000)

Change In Working Capital     (10,000)

From Operating Activities    211,000

Investing

Sale of Equipment  47,000

Financing

Bonds Issued   60,000

Cash Flow              318,000

Beginning Cash   99,000

Cash Flow           318,000

Ending Cash        417,000

Explanation:

We first remove the non.monetary concetps from the net income.

Then we adjust for the change in working capital which are the incrase and decrease in the current assets and liabilities account

Increase in asset and decrease in liabilities represent cash outflow

while the opposite is true when an asset decrease(convert to cash) or a liablity increase (delay of the payment)

Asset management ratios are used to measure how effectively a firm manages its assets, by relating the amount a firm has invested in a particular type of asset (or group of assets) to the amount of revenues the asset is generating. Examples of asset management ratios include the average collection period (also called the days sales outstanding ratio), the inventory turnover ratio, the fixed asset turnover ratio, and the total asset turnover ratio.
Consider the following case:
Walker Telecommunications has a quick ratio of 2.00x, $35,550 in cash, $19,750 in accounts receivable, some inventory, total current assets of $79,000, and total current liabilities of $27,650. The company reported annual sales of $200,000 in the most recent annual report.
Over the past year, how often did Walker Telecommunications sell and replace its inventory?
a. 8.01 x
b. 5.24 x
c. 2.85 x
d. 4.75x

Answers

Answer:

Option A 8.01x is the closest answer

Explanation:

Quick ratio =current assets-inventory/current liabilities

let x represent the value of inventory

quick ratio is 2.00

current assets is $79,000

current liabilities is $27,650

2.00=$79,000-x/$27650

2.00*$27,650=$79,000-x

$55,300=$79,000-x

x=$79,000-$55,300

x= $23,700.00  

Inventory turnover =sales/inventory

sales is $200,000

Inventory value is $23,700

inventory turnover ratio=$200,000/$23,700=8.44

The closest option is A,

On October 31, 2018, your company's records say that the company has $20,419.93 in its checking account. A review of the bank statement shows you have three outstanding checks totaling $8,912.25, and the bank has paid you interest of $27.14 and charged you $22.00 in service charges. The bank statement dated October 31, 2018 would report a balance of: (Round your answer to 2 decimal places.)

Answers

Answer: $29337.32

Explanation:

The following can be reduced from the question:

Balance as per company's ledger = $20,419.93

Add the outstanding checks= $8912.25

Add interest = $27.14

Less the fee charged by the bank = $22.00

The bank statement dated October 31, 2018 would report a balance of:

=($20,419.93 + $8912.25 + $27.14) - $22.00

= $29337.32

A roofing company collects fees when jobs are complete. The work for one customer, whose job was bid at $3,900, has been completed as of December 31, but the customer has not yet been billed. Assuming adjustments are only made at year-end, what is the adjusting entry the company would need to make on December 31, the calendar year-end?

Answers

Answer:

Debit Accounts Receivable, $3,900;

Credit Roofing Fees Revenue, $3,900

Explanation:

Here, no cash transaction was involved. Since the job has been completed but  the customer has not been billed yet, this simply means it has to be debited with accounts receivable, which is recognised as current asset and recognised as revenue for the period, hence needs to be credited.

This means that accounts receivable has to be debited with the amount of $3,900 while roofing fees revenue has to be credited with the amount of $3,900

Considering the above, the adjusting entry the company would need to make on December 31, the calendar year-end would be:

Debit Accounts Receivable, $3,900;

Credit Roofing Fees Revenue, $3.900

Pacific Ink had beginning work-in-process inventory of $754,960 on October 1. Of this amount, $309,920 was the cost of direct materials and $445,040 was the cost of conversion.The 53,000 units in the beginning inventory were 25 percent complete with respect to both direct materials and conversion costs.

During October, 112,000 units were transferred out and 35,000 remained in ending inventory.The units in ending inventory were 75 percent complete with respect to direct materials and 35 percent complete with respect to conversion costs. Costs incurred during the period amounted to $2,687,500 for direct materials and $3,429,900 for conversion.

Required:

(1) Compute the equivalent units for the materials and conversion cost calculations.

(2) Compute the cost per equivalent unit for direct materials and for conversion costs using the FIFO method.

Answers

Answer:

a:Weighted Equivalent Units  Materials   138,250  Conversion   124,250

b:FIFO Equivalent Cost Per unit  Materials  $ 21.5   Conversion   $ 30.9

Explanation:

Pacific Ink

Weighted Average Equivalent Units

Particulars            Units         %of Completion        Equivalent Units

                                             Mat      Conversion      Mat. Conversion

Transferred Out     112000        100      100          112000     112000

Add Ending Inv      35000          75          35            26250      12250

Equivalent Units                                                   138,250     124,250

The FIFO method accounts only for the current period costs and units.

Pacific Ink

FIFO  Equivalent Units

Particulars            Units         %of Completion        Equivalent Units

                                             Mat      Conversion      Mat. Conversion

Transferred Out     112000        100      100          112000     112000

Add Ending Inv     35000          75          35            26250      12250

Less

Beg. Inv              53000           25        25            13250        13250

Equivalent Units                                                   125,000     111000

FIFO Costs :                                

                                                  Materials               Conversion

Current Costs:                         $2,687,500                 $3,429,900

FIFO Equivalent Units                 125,000                         111000

Cost per Unit                   $2,687,500/125000             $3,429,900/111000

Equivalent Cost Per unit        $ 21.5                                  $ 30.9

When the Weighted Equivalent of the Units Materials  138,250 to the Conversion  124,250 FIFO Equivalent Cost Per unit  Materials  $ 21.5   Conversion   $ 30.9

              When the Pacific Ink that is:

The Weighted of the Average Equivalent Units are:

Particulars            Units         %of Completion        Equivalent Units

                                            Mat      Conversion      Mat. Conversion

Transferred Out    112000        100      100          112000     112000  

Add Ending Inv      35000          75          35            26250      12250  

Equivalent Units                                                   138,250     124,250

When thus, The FIFO method is accounted only for the current period costs and units is: When the Pacific Ink The FIFO  Equivalent Units

Particulars            Units         %of Completion        Equivalent Units  

                                            Mat      Conversion      Mat. Conversion

Transferred Out    112000        100      100          112000     112000  

Add Ending Inv    35000          75          35            26250      12250

Then Less

Beg. Inv             53000           25        25            13250        13250  

Equivalent Units                                                   125,000     111000  

When the FIFO Costs is :                                  

                                                 Materials               Conversion  

Current Costs:                         $2,687,500                 $3,429,900  

FIFO Equivalent Units                 125,000                         111000  

Cost per Unit                   $2,687,500/125000             $3,429,900/111000  

Equivalent Cost Per unit        $ 21.5                                  $ 30.9

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Jessica Ulta works as an employee for City Service Credit Union and is responsible for consulting on loans, talking clients through the loan process, and providing loans to members. What type of processes does Jessica primarily work with?

A. Business-facing processes

B. Industry-specific customer-facing processes

C. Customer-facing processes

D. Industry-specific business-facing processes

Answers

C-customer-facing processes

The rate of economic growth per capita in france from 1996 to 2000 was 1.9% per year, while in korea over the same period it was 4.2%. Per capita real GDP was $28,900 in france in 2003, and $12,700 in korea. Assume the growth rates for each country remain the same.
1. Compute the doubling time for France’s per capita real GDP.
2. Compute the doubling time for Korea’s per capita real GDP.
3. What will France’s per capita real GDP be in 2045?
4. What will Korea’s per capita real GDP be in 2045?

Answers

Answer:

36.83 years

16.85 years

$63,710.88

$ 71,490.43  

Explanation:

We can use the nper  formula in excel  to compute the doubling time for the capital real GDP of both countries

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

FV is the future real GDP which $28,900*2=$57,800 for France while that of Korea is $25,400 ($12,700*2)

PV is the present real GDP

rate is the economic growth rate of 4.2% in Korea and 1.9% in France

France=nper(1.9%,0,-28900,57800)= 36.83  

Korea=nper(4.2%,0,-12700,25400)= 16.85  

In 2045 ,which is 42 years from now the real GDP are shown thus:

=fv(rate,nper,pmt,-pv)=fv(1.9%,42,0,-28900)=$63,710.88  

=fv(rate,nper,pmt,-pv)=fv(4.2%,42,0,-12700)=$ 71,490.43  

A notice is published stating that RMO 5% convertible preferred stock will be called at $60 per share. The preferred is convertible into 1/2 share of common and is selling in the market at $56 per share. RMO common stock is selling in the market at $110 per share. After the notice appears, the price of the preferred stock will most likely trade in the market at: _________.

Answers

Answer: d. A price near $60

Explanation:

The Preferred Stock was selling at $56 then a notice was circulated that RMO would be calling the stock at a price of $60.

This $60 is more than the current $56 and so this will need to reflect in the price of the stock. The adjustment will cause the Preferred stock to start trading near $60 as traders will seek to take advantage of the impending call by buying at a lower price and thus making a bit of profit when the stock is called at $60. The market will adjust to this because the Preferred stock will be perceived as undervalued. A price closer to the Call price will therefore become the new price to properly value the stock.

The cost of doing business is most likely to be the lowest in:_______.
a. closed totalitarian states.
b. primitive or undeveloped economies.
c. open democratic societies.
d. countries where local laws and regulations set strict standards with regard to product safety, safety in the workplace, and environmental pollution.
e. countries that lack well-established laws for regulating business practice.

Answers

Answer:

C. Open democratic societies.

Explanation:

Generally, the cost of doing business is most likely to be the lowest in an open democratic societies.

An open democratic society is one that is characterized by a degree of freedom for the populace and as such, it gives the people the privilege of fairly competing for all resources.

In an open democratic society, there's ease of doing business because the government would ensure there's an enabling environment by virtue of laws, regulations, policies, SME loans, taxation etc. The open society being opposed to autocracy, ensures that the government is typically responsive and tolerant to every individual living in the country. This simply means that, fundamental human rights and all the necessary infrastructures or amenities such as power, water, transportation systems are readily available and accessible to all.

Consequently, the cost of doing business becomes low and more individuals would be willing to startup their business; investors are confident of investing in the economy because they believe in the system put in place in an open democratic society.

The following account balances are taken from the December 31, 2018, financial statements of ABZ Advertising Company. The company uses accrual basis accounting. Advertising Revenue $ 46,482 Cash 41,516 Accounts Receivable 7,296 Interest Expense 2,299 Accounts Payable 5,000 Operating Expenses 37,460 Deferred Revenue 1,178 Equipment 18,048 Income Tax Expense 2,326 The following activities occurred in 2019: Performed advertising services on account, $55,000. Received cash payments on account, $10,400. Received deposits from customers for advertising services to be performed in 2020, $2,500. Made payments to suppliers on account, $5,000. Incurred $45,000 of operating expenses; $39,000 was paid in cash and $6,000 was on account and unpaid as of the end of the year. Which of the following is the journal entry that will be used to record activity #3? Multiple Choice Debit Cash and credit Accounts Receivable for $2,500. Debit Deferred Revenue and credit Advertising Revenue for $2,500. Debit Deferred Revenue and credit Receivable for $2,500. Debit Cash and credit Deferred Revenue for $2,500.

Answers

Answer:

Debit Cash and credit Deferred Revenue for $2,500.

Explanation:

Deferred revenue can be described as an advance payment thta is received a business for services to be performed or goods to be delivered in the future.

This type of revenue will not be reported in the income statement but it will be reported as a liability under the current liabilities in the balance sheet, after debiting the cash account, until when the services are performed or goods are delivered.

For this question, $2,500 deposits received in 2018 from customers for advertising services to be performed in 2020 will not be reported in the 2018 income statement but it will continue to be reported as a liability under the current liabilities in the balance sheet till 2020 when the services are performed.

Thereofe, the correct journal entry that will be used to record activity #3 is Debit Cash and credit Deferred Revenue for $2,500.

A man turns 40 today and wishes to provide supplemental lifetime retirement income of 3,000 at the beginning of each month starting on his 65th birthday. Starting today, he makes monthly contribution of X to a fund for 25 years. The fund earns a nominal rate of 8% compounded monthly. Every 9.65 of lifetime income paid at the beginning of each month starting at age 65 will cost 1,000 to purchase. Calculate x.

Answers

Answer:

324.72

Explanation:

To get an income of $1, the man needs [tex]\frac{1000}{9.65}[/tex], therefore to get an income of $3000, the man needs [tex]\frac{1000*3000}{9.65}=310880.83[/tex].

Interest (i)= 8%/12 = 0.08/12 = 0.00667

Number of periods (N) = 12 months/year × 25 years = 300

Using actuarial notation:

[tex]Xs_{300/0.006667}=310880.83\\Where:\\s_{300/0.006667}=(1+0.006667)\frac{(1+0.006667)^{300}-1}{0.00667} =957.366[/tex]

Therefore:

[tex]957.366X=310880.83\\X=\frac{310880.83}{957.366} =324.72[/tex]

Larson, Inc. is an integrated marketing solutions company. Whenever a client comes to it wondering why a product was not welcomed by its target audience or why customers have stopped buying another product, Impiric always suggests the marketing research process begins with:________.

Answers

Answer:

Defining the problem

Explanation:

In this scenario clients come to Larson Inc wondering why a product was not welcomed by its target audience or why customers have stopped buying another product.

According to Impiric a marketing solutions company the first step in marketing research process is defining the problem.

Why are products not being welcomed by their target audience?

This will give insight and help in formulating a solution to tackle the challenge

Prince Paper has budgeted the following amounts for its next fiscal​ year: Total fixed expenses $ 600 comma 000 Selling price per unit $ 70 Variable expenses per unit $ 45 If Price Paper spends an additional $ 12 comma 300 on​ advertising, sales volume should increase by 3 comma 000 units. What effect will this have on operating​ income?

Answers

Answer:

Operating​ income will increase by $63,000  

Explanation:

Given:

Sales volume increase = 3,000 units

Particular                                        Amount

Increase in Sales                         $210,000      ($70×3000)  

Less: Increase in Variable cost $135,000       ($45×3000)

Less: Increase additional Costs $12,000

Chane in Net operating​ Income $63,000  

Operating​ income will increase by $63,000  

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