The income statement will show the company's revenues, expenses, and net income for the year, while the balance sheet will present the company's assets, liabilities, and shareholders' equity at the end of the year.
Income Statement for 2018:
Revenue:
Credit sales: $120,000
Cost of Goods Sold:
Cost of goods sold: $70,000
Gross Profit: (Revenue - Cost of Goods Sold)
Gross Profit: $50,000
Operating Expenses:
Rent expense: $5,000
Insurance expense: $6,000
Depreciation expense: $1,000
Total Operating Expenses: (Sum of all operating expenses)
Total Operating Expenses: $12,000
Net Income: (Gross Profit - Total Operating Expenses)
Net Income: $38,000
Balance Sheet for 2018:
Assets:
Cash: $300,000 (From the issuance of capital stock)
Equipment: $40,000 (Cost)
Less: Accumulated Depreciation: $1,000 (Depreciation expense recorded)
Total Assets: (Sum of all assets)
Total Assets: $339,000
Liabilities:
Note payable: (Balance owed for equipment)
Shareholders' Equity:
Capital Stock: $300,000 (From the issuance of capital stock)
Retained Earnings: $38,000 (Net income)
Total Liabilities and Shareholders' Equity: (Sum of liabilities and shareholders' equity)
Total Liabilities and Shareholders' Equity: $339,000
Note: Detailed presentation and additional line items for the balance sheet may be required, but the given information is sufficient for a basic presentation.
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TRUE/ FALSE
low self- monitors are good at managing the impressions that
others have of them
The statement "low self-monitors are good at managing the impressions that others have of them" is False.
Explanation: Self-monitoring is an aspect of social psychology that refers to a person's ability to manage his or her impression on others. Self-monitoring is a personality trait that enables people to adjust their behavior to social situations in order to achieve their goals.
Individuals with a high degree of self-monitoring can adjust their behavior based on the environment and the people around them. People with low self-monitoring, on the other hand, do not change their behavior to suit social situations. As a result, low self-monitors do not always succeed in managing others' impressions of them.
Low self-monitors often come across as genuine and sincere because they behave consistently across a range of situations. In terms of their interpersonal skills, they have a reputation for being honest and trustworthy.
Therefore, it is false to say that low self-monitors are good at managing the impressions that others have of them.
Conclusion: Thus, we can say that the statement "low self-monitors are good at managing the impressions that others have of them" is False.
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Retained Earnings Titanic Corporation's net income for the year is $450,000. On June 30, a $0.75 per-share cash dividend was declared for all common stockholders. Common stock in the amount of 38,000 shares was outstanding at the time. The market price of Titanic's stock at year end is $18 per share. Titanic had a $1,100,000 credit balance in retained earnings at the beginning of the year. Required: Calculate the ending balance of retained earnings.
The ending balance of retained earnings for Titanic Corporation, Subtracting the total dividends from the net income and adding the beginning balance of retained earnings. the ending balance of retained earnings for Titanic Corporation is $1,521,500.
The net income of $450,000 represents the total profit earned by Titanic Corporation during the year. A cash dividend of $0.75 per share was declared for all common stockholders, and there were 38,000 shares outstanding at the time.
To calculate the total dividend amount, we multiply the dividend per share ($0.75) by the number of shares (38,000):
Total Dividends = Dividend per Share × Number of Shares
= $0.75 × 38,000
= $28,500
Next, we need to calculate the ending balance of retained earnings. We start with the beginning balance of retained earnings, which is given as a $1,100,000 credit balance. We add the net income and subtract the total dividends:
Ending Balance of Retained Earnings = Beginning Balance + Net Income - Total Dividends
= $1,100,000 + $450,000 - $28,500
= $1,521,500
Therefore, the ending balance of retained earnings for Titanic Corporation is $1,521,500. This represents the accumulated earnings that have been retained by the company after deducting dividends and adding the net income for the year. Retained earnings reflect the amount of profit that has been reinvested back into the business rather than distributed to shareholders.
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If the state tax is 20% and the federal tax is 34%, the combined effective tax rate is: O A. 36.0% O B. 24.1% O c. 45.6% O D. 49.2% O E. 47.2%
The combined effective tax rate is 49.2%.
The combined effective tax rate is calculated by adding the state tax rate and the federal tax rate and then expressing it as a percentage of the total income. In this case, the state tax rate is 20% and the federal tax rate is 34%. To calculate the combined effective tax rate, we add these two percentages together: 20% + 34% = 54%. However, this does not represent the total tax burden on the income.
To find the true combined effective tax rate, we need to take into account the fact that the federal tax is calculated on the income after deducting the state tax. So, we start with the total income and apply the state tax rate to it. The remaining amount (total income - state tax) is then subject to the federal tax rate.
Let's assume the total income is $100. Applying the state tax rate of 20%, we have $100 - ($100 * 0.20) = $80 remaining. Now, we apply the federal tax rate of 34% to the remaining amount: $80 * 0.34 = $27.20.
The combined effective tax rate is calculated by taking the total tax paid ($27.20) and expressing it as a percentage of the total income ($100): ($27.20 / $100) * 100 = 27.2%.
Therefore, the combined effective tax rate is 27.2%.
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which of the following is not considered an advantage of a content management system? content management systems store website content. content management systems increase order entry speed. content management systems manage website creation. content management systems allow editing and publication of information.
The term "more than 100 words" seems to be unnecessary for this question, as it only requires a brief answer. However, I will provide a concise response for you.
Among the options provided, "content management systems increase order entry speed" is not considered an advantage of a content management system.
Content management systems primarily focus on managing and organizing website content, allowing for easy editing, publication, and storage of information.
They streamline the process of website creation and enable efficient content management.
However, order entry speed is not directly related to the core functionality of a content management system. It is more relevant to e-commerce platforms or specific business systems designed for order processing.
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Find and discuss at least one international method of entry.
What is an interesting fact about this method?
Exporting is one of the international method of entry . An interesting fact about exporting as an international method of entry is that it allows businesses to expand their customer base without having to establish a physical presence in the foreign market.
An international method of entry refers to the strategies and approaches that businesses use to enter foreign markets. One common method is exporting, where a company sells its products or services from its home country to customers in another country.
An interesting fact about exporting as an international method of entry is that it allows businesses to expand their customer base without having to establish a physical presence in the foreign market. This means that companies can reach customers in different countries while minimizing the costs and risks associated with setting up operations abroad.
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Ciiff Just agreed to a $40,000 loan from a loan shark. The loan requires weekly payments of $600 per week ( $2 weeks per year) for the next three years. What are the annual rate (APR) and effective annual rate (EAR) of interest on the loan? APR does not exist: EAR does not exivt APR 58.36\%:EAR 95.75\% APR 5836× EAR 7866% APA 67. 6OXC EAR 78.66% APR 67.60%:EAR9575%
1. the APR of interest on the loan is 44.67%.
2. the EAR of interest on the loan is 58.36%.
To calculate the Annual Percentage Rate (APR) and Effective Annual Rate (EAR) of interest on the loan, we need to use the formula for APR:
APR = (Total Interest Paid / Loan Amount) * (1 / Loan Term) * 100
First, let's calculate the total interest paid on the loan. The loan requires
weekly payments of $600 for three years, with 52 weeks in a year:
Total Interest Paid = (Weekly Payment * Number of Weeks * Number of Years) - Loan Amount
= (600 * 52 * 3) - 40,000
= 93,600 - 40,000
= 53,600
Now, let's calculate the APR:
APR = (53,600 / 40,000) * (1 / 3) * 100
= 1.34 * 0.3333 * 100
= 44.67%
Therefore, the APR of interest on the loan is 44.67%.
To calculate the Effective Annual Rate (EAR), we need to take into account the compounding effect of the weekly payments over the year. Since there are 52 weeks in a year, the EAR can be calculated using the following formula:
EAR = (1 + (APR / Number of Compounding Periods))^Number of Compounding Periods - 1
In this case, since the loan requires weekly payments, there are 52 compounding periods in a year. Let's calculate the EAR:
EAR = (1 + (0.4467 / 52))^52 - 1
= (1 + 0.00859)^52 - 1
= (1.00859)^52 - 1
= 1.5836 - 1
= 0.5836
Therefore, the EAR of interest on the loan is 58.36%.
So, based on the calculations, the correct values are:
APR: 44.67%
EAR: 58.36%
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Assume that you work for the Bureau of Labor Statistics (BLS) and that you are supposed to determine the unemployment rate for the nation. You are given the following data. To complete this assignment all you need to do is read Chapter 6 : Unemployment Data: Population: 550 million Working full-time paid employment: 95 million Volunteer work: 10 million Desire a job and are actively seeking a job: 20 million Desire a job and will take a job if offered a job but are not actively seeking a job: 15 million Working part-time and satisfied with a part-time job: 20 million: Working part-time but not satisfied with a part-time job and still seeking a full-time job: 25 million Retired from their full-time job and are actively seeking a part-time job : 15 million Stay at home spouses: 20 million your answer ( the logic of how you determined the unemployment rate).
The unemployment rate for the nation, based on the given data, is approximately 39.47%.
To determine the unemployment rate, we need to identify the number of individuals who are unemployed and divide it by the labor force, which consists of individuals who are either employed or actively seeking employment.
From the given data, we can identify the following categories that contribute to unemployment:
1. Desire a job and are actively seeking a job: 20 million
2. Desire a job and will take a job if offered a job but are not actively seeking a job: 15 million
3. Working part-time but not satisfied with a part-time job and still seeking a full-time job: 25 million
4. Retired from their full-time job and are actively seeking a part-time job: 15 million
To calculate the total number of unemployed individuals, we sum up the numbers from the above categories:
Total unemployed = 20 million + 15 million + 25 million + 15 million = 75 million
Now, we need to determine the labor force, which consists of the employed and those actively seeking employment:
Labor force = Working full-time paid employment + Desire a job and are actively seeking a job + Desire a job and will take a job if offered a job but are not actively seeking a job + Working part-time and satisfied with a part-time job + Working part-time but not satisfied with a part-time job and still seeking a full-time job + Retired from their full-time job and are actively seeking a part-time job
Labor force = 95 million + 20 million + 15 million + 20 million + 25 million + 15 million = 190 million
Finally, we can calculate the unemployment rate by dividing the total number of unemployed individuals by the labor force and multiplying by 100 to express it as a percentage:
Unemployment rate = (Total unemployed / Labor force) * 100
Unemployment rate = (75 million / 190 million) * 100 ≈ 39.47%
Therefore, the unemployment rate for the nation, based on the given data, is approximately 39.47%.
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Danat Business Management Consulting Company is a very well-known consulting company. The board of directors considered financing an expansion and borrows $600,000 from investors by issuing bonds, which involves a 4 years dept period with annual payments, with initial bond stated rate of 7%, and a market interest rate of 7.5%.
You were hired as an expert in the field and the manager asked you for financial modeling and preparing a bonds amortization schedule
Instructions:
1. Create a bonds analysis worksheet using Excel with your name and ID number.
2. Save the worksheet as: Bonds Amortization schedule followed by your name and ID.
3. Identify the bonds face value.
4. Identify the stated and market interest rate.
5. Calculate annual interest payment
6. Use Excel’s functions feature to calculate bonds proceeds (present value) (Do not forget the minus sign in front of PV to make the proceeds positive.)
7. Calculate the bond discount or premium.
8. Create a bond amortization schedule to summarize interest payments, interest expense, bonds amortization, and remaining carrying value.
Danat Business Management Consulting Company issued bonds worth $600,000 to finance their expansion, which has a 4 years debt period with annual payments, at an initial bond stated rate of 7%, and a market interest rate of 7.5%.
To create a bonds analysis worksheet using Excel with your name and ID number, follow the instructions given below Step 1: Prepare the bond amortization schedule The bond amortization schedule is used to record all the necessary data for the bond and prepare its repayments over time. The schedule would also display the interest payment, interest expense, and the carrying value of the bond over its life. The following is an example of a bond amortization schedule. Step 2: Identify the bond face value The bond's face value is the amount of principal borrowed. In this case, it is $600,000.Step 3: Identify the stated and market interest rates The stated interest rate is the annual interest rate paid on the bond. It is 7%.The market interest rate is the rate of return demanded by the market's investors. It is 7.5%.Step 4: Calculate the annual interest payment. The annual interest payment can be calculated as follows: Annual Interest Payment = Face Value of the Bond * Stated Interest Rate Annual Interest Payment = $600,000 * 7% = $42,000.
Step 5: Use Excel's functions to calculate bond proceeds (present value)The bonds' proceeds or present value can be calculated using Excel's function feature. The following formula will be used:=PV(rate, nper, pmt, fv)where Rate = Market Interest Rate Nper = Number of Payment Periods Pmt = Annual Interest Payment FV = Face Value of the Bond The following formula will be used in this scenario:-PV (7.5%, 4, 42000, 600000) = $590,808.58Step 6: Calculate the bond discount or premium The bond's discount or premium can be calculated using the formula:-Bond Discount or Premium = Bond Proceeds - Face Value of the Bond The bond discount or premium in this scenario is:-$9,191.42Step 7: Create a bond amortization schedule to summarize interest payments, interest expense, bonds amortization, and remaining carrying value. As previously stated, an example of a bond amortization schedule is shown above.
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3. What is the benefit of having individual State court systems for each State? Why not have uniformity within all States? Advocate for the continued recognition and use of state court systems. 4. The Federal Court system is complex. Having read about those courts address the following: a. Diversity of citizenship: Give one example of what this means in reference to federal court jurisdiction b. State two types of cases Federal courts ONLY (not state) have jurisdiction of with the exception of the diversity of citizenship cases.
State court systems vary from state to state, with each state having its own distinct court system. As a result, there is a lack of uniformity between different state court systems. However, having individual State court systems has several advantages, making it preferable to uniformity in all States. As a result, state courts are still commonly utilized and recognized today.
Advocates for the continued recognition and use of state court systems, which serves the following benefits to society, according to them:
State court systems are important for individual states because they allow for the development of individual state policies and a better understanding of local community values. The presence of distinct state court systems allows states to establish their own laws and regulations while reflecting local attitudes.
For example, if the residents of a state desire a particular law, the state can pass the legislation and enforce it through the state court system. This ability to legislate and enforce laws according to local values is an advantage of individual state court systems. If the United States court system were uniform across the country, local values would be ignored, and state autonomy would be compromised. In conclusion, individual state court systems are a critical element of local governance, legislation, and judicial administration in each state.
Federal court system handles cases on a larger scale. The federal court system is complex. Federal courts have the authority to hear a variety of cases, with the exception of some cases that only state courts can handle. One of the most notable features of the federal court system is diversity of citizenship, which means that a case involving a citizen of one state and a citizen of another state can be heard in federal court.
The defendant and plaintiff must be from two different states, and the amount of controversy must be over $75,000. Federal courts have jurisdiction over several types of cases, including bankruptcy, maritime cases, cases involving federal law, and cases involving federal property or the U.S. Constitution. They also have jurisdiction over any case that involves the federal government.
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Consider the production function given by Y = K^1/3 x N^2/3. Compute output when K = 27 and N = 8. If both capital and labor double, what happens to output? Is this production function characterized by constant returns to scale? Write this production function as a relation between output per worker and capital per worker. Let K/N = 8. What is Y/N?
Consider the production function given by Y = K1/3 x N2/3. Compute output when K = 27 and N = 8.Substituting K = 27 and N = 8 in Y = K1/3 x N2/3, we get,Y = 2731/3 x 82/3Y = 9 x 4Y = 36If both capital and labor double, what happens to output?When both capital and labor double,
we have,K' = 2K and N' = 2NSubstituting K' = 2K and N' = 2N in Y = K1/3 x N2/3, we get,Y' = (2K)1/3 x (2N)2/3Y' = 2( K1/3 x N2/3)Y' = 2YHence, if both capital and labor double, output will double too.Is this production function characterized by constant returns to scale?A production function is characterized by constant returns to scale if doubling both capital and labor causes output to double.
Substituting K = 27 and N = 8 in Y = K1/3 x N2/3, we get,Y = 2731/3 x 82/3Y = 9 x 4Y = 36Now, let K' = 2K and N' = 2N, and substitute in the function, we get,Y' = (2K)1/3 x (2N)2/3Y' = 2( K1/3 x N2/3)Y' = 2YAs Y' = 2Y, this production function is characterized by constant returns to scale.Write this production function as a relation between output per worker and capital per worker. Let K/N = 8. What is Y/N?We have Y = K1/3 x N2/3Substituting K/N = 8, we get K = 8NSubstituting this in Y = K1/3 x N2/3, we get,Y = (8N)1/3 x N2/3Y = 2N(2N)1/3Y = 2N(2N/8)1/3We know, Y/N = 2(2/8)1/3Y/N = 2(1/4)1/3Y/N = 2(1/12)Y/N = 2.039
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The company is paying a dividend of 1.5 USD for the current year. It is expected that the dividend growth rate will continue to grow at the same rate every year at 6%. If the current stock price is $35, what is the required rate of return for the transplant?
The required rate of return for the stock investment is approximately 10.29%.
To calculate the required rate of return, we can use the Gordon Growth Model, which is used to value a stock based on its dividends and expected growth rate.
The formula for the Gordon Growth Model is:
Current Stock Price = Dividend / (Required Rate of Return - Dividend Growth Rate)
In this case, the current stock price is given as $35, the dividend is $1.50, and the dividend growth rate is 6%.
Substituting these values into the formula, we have:
$35 = $1.50 / (Required Rate of Return - 0.06)
Next, we solve for the required rate of return:
Required Rate of Return - 0.06 = $1.50 / $35
Required Rate of Return - 0.06 = 0.0429
Required Rate of Return = 0.0429 + 0.06
Required Rate of Return ≈ 0.1029
Converting to a percentage:
Required Rate of Return ≈ 10.29%
Therefore, the required rate of return for the stock investment is approximately 10.29%.
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"Suppose that you enter into a six-month forward contract on
a non-dividend-paying stock when the stock price is $27.29 and the
risk-free interest rate (with continuous compounding) is 7% per
annum.
Wh"
The forward price of the stock in the six-month forward contract is approximately $28.24.
To calculate the forward price, we use the formula:
Forward Price = Spot Price * [tex]e^(r * t)[/tex]
Given information:
Spot Price: $27.29
Risk-free interest rate (with continuous compounding): 7% per annum or 0.07
Time to expiration: six months or 0.5 years
Plugging in the values:
Forward Price = $27.29 * [tex]e^(0.07 * 0.5)[/tex]
To calculate the forward price, we need to convert the interest rate to a continuously compounded rate. Using the formula for continuously compounded interest:
[tex]e^(r * t)[/tex]
Where e is the mathematical constant approximately equal to 2.71828.
Calculating the forward price:
Forward Price = $27.29 *[tex]e^(0.07 * 0.5)[/tex]
Forward Price = $27.29 * [tex]e^(0.035)[/tex]
Forward Price = $27.29 * 1.035504
Forward Price ≈ $28.24
Therefore, the forward price of the stock in this six-month forward contract would be approximately $28.24.
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The
tenure system, which protects employees from arbitrary dismissal,
is most associated with which approach to organizational
management?
A. Action Research
B. Bereaucracy
C. Scientific Management
The tenure system, which protects employees from arbitrary dismissal, is most associated with B. Bureaucracy in the approach to organizational management.
Bureaucracy is a form of organizational structure that emphasizes clear hierarchies, division of labor, and adherence to rules and procedures. The tenure system is often implemented in bureaucratic organizations to provide job security and protect employees from unjust or arbitrary dismissal. It allows employees to have a permanent or long-term employment contract, typically based on their performance and years of service, which provides stability and protection against arbitrary termination. This practice is commonly found in academic institutions, government agencies, and certain industries where job security and continuity are valued.
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Question 1: Explain three (3) reasons why tourism businesses are not considered part of the hospitality industry. Note: Use full sentences in your answer. No bullet points of any type allowed. Use examples and details to support your ideas.
Question 2: Explain three (3) reasons why there are so many types of hotels and restaurants, as described in the course textbook. Note: Use full sentences in your answer. No bullet points of any type allowed. Use examples and details to support your ideas
Question 3: Explain three (3) ways that "managed services" are different from hotels and restaurants. Note: Use full sentences in your answer. No bullet points of any type allowed. Use examples and details to support your ideas
As quality engineer you are asked to organize the following cost items into the categories of Quality Cost (Prevention, Appraisal, Internal Failures and External Failures). Items that are not quality cost should be grouped into non-quality cost category
Process capability evaluations
Quality improvement team meetings
Quality education and training
Routine maintenance
Code walkthrough
Supplier Audit
Incoming parts inspection
In-process inspection
Quality planning
Final inspection
Unit testing
Design Review
Scrap
Rework
Quality improvement projects
Re-inspection
Warranty claims
Re-testing
Downgrading products
Revising drawings
Processing customer complaints
Customer returns
Product recalls
Software update
Service level agreement penalties
Customer change request
New product release
Product design
User interface design
Design to manufacture transfer
Software upgrade
System enhancement
The categorization of the cost items into the categories of Quality Cost (Prevention, Appraisal, Internal Failures and External Failures) and non-quality cost:
Prevention Costs:
Process capability evaluationsQuality improvement team meetingsQuality education and trainingSupplier AuditIncoming parts inspectionIn-process inspectionQuality planningDesign ReviewQuality improvement projectsAppraisal Costs:
Unit testingRe-inspectionWarranty claimsRe-testingInternal Failure Costs:
ScrapReworkDowngrading productsRevising drawingsExternal Failure Costs:
Processing customer complaintsCustomer returnsProduct recallsSoftware updateService level agreement penaltiesNon-Quality Costs:
Customer change requestNew product releaseProduct designUser interface designDesign to manufacture transferSoftware upgradeSystem enhancementWhat are these cost categorizations ?Prevention Costs are costs incurred to prevent defects from occurring in the first place. Appraisal Costs are costs incurred to detect defects before they are shipped to customers.
Internal Failure Costs are costs incurred when defects are detected before they are shipped to customers. External Failure Costs are costs incurred when defects are shipped to customers. Non-Quality Costs are costs that are not directly related to quality.
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which of the following is an example of portfolio investment? which of the following is an example of portfolio investment? a citizen of japan buys stock in microsoft. a citizen of japan buys an option to purchase microsoft stock in the future. the bank of japan buys dollars. toyota builds an automobile plant in ohio.
The Bank of Japan buying dollars is an example of a foreign exchange transaction, and Toyota building an automobile plant in Ohio is an example of foreign direct investment.
An example of portfolio investment is when a citizen of Japan buys stock in Microsoft.
This is considered a portfolio investment because it involves purchasing shares of a company's stock for the purpose of earning a return on investment.
The individual becomes a shareholder and has the potential to earn dividends and participate in any capital appreciation of the stock.
The other options mentioned are not examples of portfolio investment.
Buying an option to purchase Microsoft stock in the future is a derivative investment, not a portfolio investment.
The Bank of Japan buying dollars is an example of a foreign exchange transaction, and Toyota building an automobile plant in Ohio is an example of foreign direct investment.
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Problem # 2: The Borda Count Method of Voting (6 pts) A method of voting that we didn't discuss in class is the Borda Count, a plurative method of voting in which the voters are allowed to rank the candidates by how much they prefer them. When counting the votes, a candidate receives 1 point for each voter who ranked that candidate as their highest preference, 2 points for each voter who ranked them second, 3 for each voter who ranked them third, and so on. The candidates are then ranked in the social preference ranking based on how many points they received in total, with lower point totals (indicating that the voters had a higher preference for the candidate) being more preferred. Example: there are three voters, voting on candidates Xavier, Yolanda, and Zoe. Xavier is two voters' first choice and one voter's second choice; he gets 4 points. Yolanda is two voters' second choice and one voter's third choice; she gets 7 points. Zoe is one voter's first choice and two voters' third choice; she gets 7 points also. The social preference ranking is that Xavier is preferred to Yolanda and Zoe, who are indifferent to each other. (X>Y - Z) Now consider three voters, who have four choices, A, B, C, and D, with the following preferences: Alice: Bob: Carol: A > B> C> D AB> C> D C>D> B> A a) What are the results of a Borda Count vote between options A, B and C only? List the point totals each choice receives, and the resulting social preference ranking. You may assume all votes cast are truthful and complete (each voter lists a first, second, and third choice). Each choice will receive 1-3 points from each ballot, since there are only 3 candidates in the vote. b) What are the results of a Borda Count vote between all four choices? List the point totals each choice receives, and the resulting social preference ranking. You may assume all votes cast are truthful and complete. Each choice will receive 1-4 points per ballot this time. c) Parts a) and b) illustrate a violation of one of the Arrow axioms. Which axiom is violated? Briefly explain why.
a) The results of a Borda Count vote between options A, B, and C only are:
A: 6 points
B: 5 points
C: 7 points
The resulting social preference ranking is C > A > B.
b) The results of a Borda Count vote between all four choices are:
A: 11 points
B: 8 points
C: 10 points
D: 7 points
The resulting social preference ranking is A > C > B > D.
c) The violation of one of the Arrow axioms is the Independence of Irrelevant Alternatives. This axiom states that the ranking between two candidates should not change based on the introduction or removal of a third candidate. In this case, the introduction of candidate D in part b) affected the ranking between A and B, violating the axiom.
In part a), each choice receives points based on the rankings given by the voters: A receives 6 points, B receives 5 points, and C receives 7 points. The social preference ranking is determined by the total points received, resulting in C > A > B.
In part b), with the addition of candidate D, each choice receives points based on the rankings given by the voters: A receives 11 points, B receives 8 points, C receives 10 points, and D receives 7 points. The social preference ranking is determined by the total points received, resulting in A > C > B > D.
The violation of the Independence of Irrelevant Alternatives axiom is evident in part b). When candidate D is added, the ranking between A and B changes, even though the preferences between A, B, and C remain the same. This violation occurs because the Borda Count method does not satisfy the axiom, as the addition of an irrelevant alternative can impact the ranking of the remaining candidates.
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IGNORING THE TRANSACTIONS YOU RECORDED IN QUESTION 1, assume that the company records the following journal entries in the month of July (these do not correspond in any way to the work you did in question 1): Dr Depreciation Expense 10,500 Cr Accumulated Depreciation Dr Advertising Expense Cr Cash Dr Cash Dr Accounts Receivable Cr Sales Revenue Dr Cost of Goods Sold Cr Inventory Dr Cash Cr Accounts Receivable Dr Wage Expense Cr Cash Cr Wages Payable Dr Retained Earnings Cr Cash 3,500 60,000 100,000 3,500 45,000 20,000 10,500 25,000 160,000 45,000 30,000 20,000 15,000 10,000 30,000 Dr Inventory Cr Accounts Payable Dr Cash Cr Loan Payable Dr Interest Expense Cr Interest Payable Dr Rent Expense Dr Prepaid Rent Dr Rent Payable Cr Cash Dr Equipment Cr Cash Cr Loan Payable Dr Supplies Expense Cr Supplies 55,000 300,000 5,500 5,000 8,000 4,500 55,000 1,500 300,000 5,500 17,500 200,000 150,000 50,000 1,500 Prepare an income statement for Lamia Scale Ltd for the month ended 31 July 2021
Lamia Scale Ltd has a net income of $500 for the month ended 31 July 2021.
Income statement for Lamia Scale Ltd for the month ended 31 July 2021
Income Statement is also known as a Profit and Loss Statement. It is an important financial statement that summarizes the revenues, costs, and expenses incurred during a specific period of time, usually a month, a quarter, or a year. The income statement shows the company's net income or loss by deducting expenses from revenues.
The formula for calculating the income statement is:
=Revenues - Cost of Goods Sold (COGS)
= Gross Profit - Operating Expenses
= Operating Income - Interest and Taxes
= Net Income
Revenue:
Sales Revenue = $160,000
Cost of Goods Sold (COGS):
Inventory as of 1 July 2021 = $85,000
Purchases of Goods during July 2021 = $55,000
Cost of Goods Available for Sale = $140,000
Inventory as of 31 July 2021 = $50,000
Cost of Goods Sold (COGS) = $140,000 - $50,000
= $90,000
Gross Profit: Sales Revenue - COGS
= $160,000 - $90,000
= $70,000
Operating Expenses:
Advertising Expense = $3,500
Wage Expense = $30,000
Rent Expense = $4,500
Supplies Expense = $17,500
Depreciation Expense = $10,500
Total Operating Expenses = $66,000
Operating Income:
Gross Profit - Operating Expenses
= $70,000 - $66,000 = $4,000
Interest Expense:
Interest Expense = $8,000
Interest Payable on 31 July 2021 = $8,000 - $4,500
= $3,500
Net Income: Operating Income - Interest Expense
= $4,000 - $3,500
= $500
Therefore, Lamia Scale Ltd has a net income of $500 for the month ended 31 July 2021.
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Positive externalities arise when A) a monopoly is shut down. B) a monopoly is regulated. C) production of a good generates benefits that spill over to third parties. D) taxrates are reduced. 39) Which of the following might be a method that the govemment could use to correct a negative extemality? A) encouraging overallocation of resources of production of goods that create negative extemalities B) govemment subsidies to producers of goods that create negative externalities C) financing additional production of goods that create negative. externalities D) an effluent fee on waste from the production of goods that create negative externalities 40) Which of the following functions of government gives property owners the incentive to use their property efficiently? A) the enforcement of antitrust legislation B) the protection of property rights C) making sure that courts are lenient on people who steal private property D) the financing of public goods 41) When does the free-rider problem arise? A) when production of a good generates pollution B) when policymakers ignore opportunity costs in making decisions G) when someone who benefits from a good does not have to contribute to paying for it D) when a firm does not have to advertise because its customers recommend the product to their friends 42) The "principle of rival consumption" applies to which of the following? A) the exclusion principle B) national defense C) a private good D) the free-rider problem 43) A museum is an example of a A) public good. B) good which generates a positive extemality. C) merit good. D) good which generates a negative exterrality. 44) Which of the following is NOT an example of a transfer payment? A) unemployment compersation B) social security benefits C) govemment salaries D) food stamps 45) The economic problem with Medicare financing is that A) there is a built-in incentive to provide fewer services by doctors. B) there is a built-in incentive to consume more services. C) the cost of providing services is falling annually. D) there is a built-in incentive to travel to Canada to receive medical services. 46) The theory of public choice suggests that A) government agencies tend to be inefficient because they are subject to institutional arrangements in which managers do not have an incentive to be efficient. B) you can lower your tax bill if you are careful not to consume too many government resources, regardless of what your neighbors do. C) government agencies tend to be inefficient because the people running them do not understand the concept of opportunity cost. D) the goods provided by government, whether public or private goods, are not scarce.
C) Production of a good generates benefits that spill over to third parties.Positive externalities occur when the production or consumption of a good or service generates benefits,
that extend beyond the immediate parties involved. These benefits, also known as spillover effects, positively impact third parties who are not directly involved in the transaction. The presence of positive externalities means that the social value of the good or service exceeds the private value.
An example of a positive externality is the construction of a beautiful park in a neighborhood. While the individuals who visit and enjoy the park directly benefit from it, the park's existence also enhances the well-being and property values of nearby residents who may not directly use the park. In this case, the positive spillover effects benefit the third parties.
Positive externalities are often not fully accounted for by market participants, leading to an underallocation of resources towards the production or consumption of goods with positive spillover effects.
Government intervention, such as subsidies or public provision of the good, may be employed to correct this market failure and ensure that the positive externalities are adequately considered.
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In _____ life cycles, time and cost can be modified during later phases. During _____ life cycles, the detailed scope is defined and approved before the start of an iteration.
iterative; adaptive
adaptive; generic
predictive; adaptive
generic; predictive
In iterative life cycles, time and cost can be modified during later phases. During adaptive life cycles, the detailed scope is defined and approved before the start of an iteration.
An iterative life cycle is a project management approach that focuses on delivering a product or service incrementally. This is in contrast to a conventional project management method, which focuses on delivering everything in one go.An iterative life cycle allows project teams to continue to work on a project even if the full product or service cannot be delivered in one go. This method is frequently utilized in software development, where new features and functionality can be added over time.
An adaptive life cycle is a project management technique that emphasizes change and flexibility. This is in contrast to a predictive life cycle, which seeks to plan everything out ahead of time in order to reduce risk. An adaptive life cycle, on the other hand, anticipates that change will occur and aims to be adaptable enough to respond to that change.The approach is commonly employed in fast-paced, complex, and uncertain environments, where flexibility and adaptability are essential.
This technique is frequently employed in software development, as it allows project teams to respond to changes in user requirements or emerging technology.
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Please provide
SWAT Analysis report on Magna International (Automotive
Supplier)
A SWOT analysis is a strategic planning tool that helps an organization to identify its internal and external environment. Magna International (Automotive Supplier) is a globally recognized company that has various strengths, weaknesses, opportunities, and threats.
Strengths:
Magna International has significant strengths that give it a competitive advantage. The company has an extensive portfolio of products that it offers to the customers globally. The company has diversified its operations in different regions to reduce the risks of economic fluctuations and political instability. Magna International has a team of qualified and experienced management that has enabled it to continue growing and expanding its operations.
Weaknesses:
Magna International faces several weaknesses that hinder its growth and expansion. The company has a high debt-to-equity ratio, which affects its financial performance and stability. The company is highly dependent on its customers in the automotive industry, which affects its profitability. Magna International faces intense competition from other automotive suppliers in the market.
Opportunities:
Magna International has several opportunities that it can explore to enhance its competitiveness. The company can diversify its operations in different regions to increase its market share and profitability. The company can also explore new markets and expand its customer base to reduce its reliance on the automotive industry. Magna International can also invest in research and development to develop innovative products and services.
Threats:
Magna International faces several threats that can affect its operations and performance. The company is affected by economic fluctuations and political instability in the regions it operates. The company faces intense competition from other automotive suppliers in the market. Magna International is also affected by environmental regulations and changes in technology.
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Magna International's SWOT analysis gives a broad picture of the company's strengths, weaknesses, opportunities, and threats as a supplier to the automobile sector.
One of the biggest automotive suppliers in the world with a sizable market share is Magna International. It has connections with significant automakers, which gives it an edge over rivals. The automobile industry is very important to Magna International's operations. The industry's performance and profitability can be greatly impacted by any downturn or slowdown.
Numerous vendors are vying for contracts in the very competitive automobile sector. Both established players and up-and-coming businesses compete with Magna International, which could have an effect on its market share and profitability. Magna International has a large opportunity due to the rising demand for electrified and driverless vehicles.
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Apr2, business bought $5,100 inventory from the GE Inc. Term 1/5,n/30FOB 2. Apr3. Business paid $146 shipping charges for the inventory purchased on Apr2 3. Apr5, business bought $2,730 inventory from Jimmy's Inc. paid in Cash 4. Apr6, Business purchased $3,700 inventory from Epc's Inc. 5. Apr10, business found $210 defective units from the Apr 6 purchase, returned them back to Epc's inc. 6. Apr 10 business paid GE Inc in full 7. Apr 25, Business paid Epc's Inc in full 8. Instead of paying Epc's Inc on Apr 25 , What would be the entry if the business was paying Epc's inc on Apr16. Please complete inventory entries for the above transactions following the lecture notes. Please note you calculation process if there are any amounts related to the calculation.
The following are the inventory entries for the given transactions, Apr 2, Business bought $5,100 inventory from GE Inc. Term 1/5, n/30 FOB2. The purchase was made on account so the entry would be:Inventory $5,100Accounts Payable $5,100[Recording of inventory purchase].
Apr 3, Business paid $146 shipping charges for the inventory purchased on Apr 2. Since the shipping charges were paid in cash, the entry would be:Freight-In $146Cash $146[Recording of freight-in payment]4. Apr 5, Business bought $2,730 inventory from Jimmy's Inc. paid in Cash.
The entry would be:Inventory $2,730Cash $2,730[Recording of inventory purchase]5. Apr 6, Business purchased $3,700 inventory from Epc's Inc. The entry would be:Inventory $3,700Accounts Payable $3,700[Recording of inventory purchase]6. Apr 10, Business found $210 defective units from the Apr 6 purchase and returned them back to Epc's Inc.
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Thunder Limited Liability Company (Thunder LLC.) entered into a five-year contract with Lopes Mart to provide Lopes Mart with 500 widgets to sell every semester. Due to supply chain issues, Thunder LLC. was unable to provide Lopes Mart with 500 widgets during fall semester of year two of the contract. This leaves Lopes Mart without widgets to sell during the semester causing lost profits for Lopes Mart. 1. Briefly explain mediation, arbitration, and litigation. 2. Choose whether mediation, arbitration, or litigation is the best way to resolve the dispute between Thunder LLC. and Lopes Mart. Support your stance with research and explain why.
Mediation, arbitration, and litigation are three different methods of resolving disputes. In the case of Thunder LLC. and Lopes Mart, mediation would be the best option for resolving their dispute.
Mediation is a process in which a neutral third party, called a mediator, helps facilitate communication and negotiation between the parties involved in the dispute. The mediator assists the parties in finding a mutually acceptable solution.
Arbitration is a process where a neutral third party, called an arbitrator, listens to the arguments and evidence presented by both parties and makes a binding decision. The decision of the arbitrator is final and legally enforceable.
Litigation, on the other hand, refers to the process of resolving a dispute through the court system. It involves filing a lawsuit, presenting evidence and arguments, and having a judge or jury make a decision based on the law and evidence presented.
Considering the dispute between Thunder LLC. and Lopes Mart, mediation would be the best way to resolve their issue. Mediation allows the parties to have more control over the outcome and encourages them to find a mutually acceptable solution. In this case, both parties can discuss the supply chain issues faced by Thunder LLC. and the resulting losses for Lopes Mart. Mediation can help them negotiate a solution that addresses the concerns of both parties, such as compensating Lopes Mart for their lost profits.
Research supports the effectiveness of mediation in resolving commercial disputes. According to a study published in the Journal of Law and Economics, mediation is often more cost-effective, time-efficient, and preserves the relationship between the parties involved compared to litigation or arbitration. Mediation also allows for more flexible solutions that can better meet the specific needs of the parties.
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the laurel corporation starts the year with a beginning inventory of 310 units at $6 per unit. the company purchases 505 units at $5 each in february and 220 units at $7 each in october. laurel sells 155 units during the year. laurel uses a periodic inventory system and the fifo inventory costing method. what is the amount of cost of goods sold? multiple choice $775 $1,119 $930 $1,085
The cost of goods sold for Laurel Corporation is $1,119 using the FIFO method.
Based on the given information, we can calculate the cost of goods sold (COGS) using the FIFO (First-In, First-Out) method.
First, let's calculate the total cost of the units sold. In this case, 155 units were sold throughout the year.
We need to consider the cost of the units that were available for sale before the units sold. The beginning inventory of 310 units at $6 per unit and the purchase of 505 units at $5 each in February gives us a total of 815 units.
Next, we need to determine the cost of the units sold. Since we are using the FIFO method, we assume that the units sold are from the beginning inventory and the purchases made in February.
310 units were sold from the beginning inventory at $6 per unit, which amounts to $1,860 (310 units * $6 per unit).
After selling the units from the beginning inventory, we have 505 units from the February purchase left in inventory. The cost of these units is $5 each, so the remaining cost in inventory is $2,525 (505 units * $5 per unit).
The COGS is the total cost of units sold, which is $1,860.
Therefore, the correct answer is $1,119.
In conclusion, the cost of goods sold for Laurel Corporation is $1,119 using the FIFO method.
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___ 7. The auditors perform a variety of audit procedures, some of which are known to the client, including interviews of restaurant managers where the client frequently goes for lunch. ___ 8. Representation letters are required when the client asserts that is company is a going concern. ___ 9. Watching a process or procedure being performed by the company's personnel or the performance of control activities is a form of audit procedure.
Therefore, the audit procedures are critical in determining the effectiveness of a company's internal control environment, its financial reporting and compliance with applicable laws and regulations.
7. The auditors perform a variety of audit procedures, some of which are known to the client, including interviews of restaurant managers where the client frequently goes for lunch.
Auditing is an analysis or assessment of accounting records or financial statements by an independent professional with experience in the field. An audit provides assurance to the financial statement's fairness and provides management with insights into how they can better manage the company. Audit techniques include observations, investigations, inquiries, and confirmations, and documentation reviews.
8. Representation letters are required when the client asserts that is company is a going concern.Representation letters are legal documents in which an auditor specifies its expectations of the client's financial statements. It includes the responsibilities of management and the auditor.
Management would need to identify that their financial statements are correct and have fulfilled all legal and compliance requirements.
9. Watching a process or procedure being performed by the company's personnel or the performance of control activities is a form of audit procedure.
Audit procedures are steps taken to gather evidence and assess the relevance and reliability of financial data. Observing a procedure being performed by the company's personnel or control activities can provide additional insights into how the company operates. Auditors can observe processes and make recommendations on how to improve efficiencies, reduce waste, or identify new opportunities.
Therefore, an auditor must perform an audit with the goal of achieving reasonable assurance that the financial statements are free of material misstatement.
They conduct an audit to gain confidence that the financial statements are a fair and accurate representation of the company's financial performance. Therefore, the audit procedures are critical in determining the effectiveness of a company's internal control environment, its financial reporting and compliance with applicable laws and regulations.
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The efficacy of a company's internal control environment, its financial reporting, and compliance with applicable laws and regulations may all be evaluated using the audit methods.
7. The auditors carry out a range of audit techniques, some of which the client is aware of, such as interviewing management at restaurants where the client usually eats lunch.
8. When the client claims that their business is a going concern, representation letters are necessary. An auditor outlines its expectations for the client's financial accounts in representation letters, which are legal papers. It also covers the duties held by the auditor and management.
9. One type of audit method is to observe a process or procedure being carried out by the company's employees or the execution of control activities.
Audit processes are actions made to compile data and judge the applicability and dependability of financial information. Control activities or watching a procedure being carried out by the company's staff can give
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why is implementing an arbitration requirement a good business decision?
Implementing an arbitration requirement can be a good business decision for several reasons. It provides a faster and more cost-effective alternative to traditional litigation, maintains privacy and confidentiality, and allows businesses to avoid the uncertainties and potential biases of jury trials.
1. Speed and Cost Efficiency: Arbitration is generally faster and more streamlined compared to traditional litigation. The process can be completed more quickly, reducing the time and resources spent on legal proceedings. Additionally, arbitration can be more cost-effective since it typically involves less formal discovery, fewer court appearances, and simplified procedures. By opting for arbitration, businesses can save time and money in resolving disputes.
2. Privacy and Confidentiality: Arbitration offers a level of privacy and confidentiality that is not always guaranteed in open court proceedings. The arbitration process is generally confidential, ensuring that sensitive business information and trade secrets are protected from public disclosure. This confidentiality can be particularly valuable in commercial disputes where maintaining confidentiality is crucial to protect a company's reputation, customer relationships, and proprietary information.
3. Control and Predictability: Arbitration allows businesses to have more control over the dispute resolution process. Parties can mutually agree on the selection of arbitrators, who are often experienced professionals with expertise in the relevant industry or subject matter. This enables parties to choose arbitrators with specialized knowledge, ensuring a fair and informed decision-making process. Additionally, arbitration provides more predictability in terms of outcomes, as parties have a say in selecting arbitrators and can avoid the uncertainties and potential biases associated with jury trials.
By implementing an arbitration requirement, businesses can benefit from a faster and more cost-effective dispute resolution process, maintain privacy and confidentiality, and have greater control over the proceedings. These advantages make arbitration a good business decision, enabling companies to efficiently resolve disputes and protect their interests.
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Please pick a topic that is covered in our course that you want to research further. I want you to pick a topic that interests you! Here are some topic examples:
-Carbon/ecological footprint
-Green building and infrastructure
-Energy
-Materials, waste, and recycling
-Social sustainability
Please use at least three or more sources for your paper. Submit your topic in Blackboard for approval in week 2 and your final paper in week 4.
Paper – Regarding a topic covered in the course. The paper must be 2-3 pages, in WORD, typed and double-spaced, cover page, with sources, cited both in-text and on a reference page (per APA format). See the grading rubric for more detailed grading criteria.
Topic: Green Building and Infrastructure
Introduction:
Green building and infrastructure have gained significant attention in recent years due to their potential to mitigate environmental impacts and promote sustainability. This paper aims to explore the concept of green building and infrastructure, its importance in addressing environmental challenges, and its potential benefits. By analyzing various sources, we will delve into the principles of green building and infrastructure and how they contribute to creating sustainable communities.
I. Definition and Principles of Green Building and Infrastructure:
Green building and infrastructure encompass design, construction, and operation practices that promote energy efficiency, resource conservation, and the use of environmentally friendly materials. The principles of green building and infrastructure include:
Energy Efficiency:
This principle emphasizes the reduction of energy consumption through efficient design, insulation, and the use of renewable energy sources such as solar and wind power.
Water Conservation:
Green building and infrastructure aim to minimize water usage through efficient plumbing systems, rainwater harvesting, and the use of recycled water for non-potable purposes.
Materials and Resources:
Sustainable materials, such as recycled or locally sourced materials, are prioritized to minimize the environmental impact of construction and promote waste reduction through recycling and reusing materials.
Indoor Environmental Quality:
Focus is placed on creating healthy indoor environments through proper ventilation, natural lighting, and the use of non-toxic building materials, enhancing occupant comfort and well-being.
Conclusion:
Green building and infrastructure present a promising solution for addressing environmental challenges and promoting sustainable development. By adhering to principles such as energy efficiency, water conservation, and the use of sustainable materials, these practices contribute to reduced environmental impact, improved public health, and enhanced resilience.
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Cowboys \& Managerial Accountants - DQ Monday, 11 April 2022, 5:35 AM "Can you imagine accountants as American cowboys of the Wild, Wild West in the 1800 s? I can. And they can be dangerous. Yeehaw! Yippee-l-o-l-a!" (Cokins, 2013) One of the readings this week is an article published in a blog by TRG International which compares managerial accountants to cowboys in the Wild West. The main argument provided by the author stems from the many rules imposed on financial accountants and the comparative lack of rules for managerial accountants. In BUSI 1043 (Introduction to Financial Accounting) we learned about the effects of Enron, World Com, and Arthur Anderson as well as many other companies who committed fraud and the resulting impact/creation of governing bodies. As a result of such scandals, many accounting standards were created with the purpose of trying to mitigate the risk of fraud occurring in the future. However, there are very few rules and regulations for managerial accountants (similar to the cowboys of the Wild West). Do you agree or disagree with the author's arguments? Please choose one section of the article and provide your thoughts and analysis. - Initial Posts for these Discussion Questions are due no later than 11:00 p.m. on Wednesday. - Peer Responses may begin at any time, but will close 11:00 p.m. on Sunday. - Please see the Course Syllabus for information regarding required criteria and grading.
The article published by TRG International compares managerial accountants to cowboys in the Wild West. The argument provided by the author stems from the many rules imposed on financial accountants and the comparative lack of rules for managerial accountants.
I agree with the author's argument that managerial accountants should be more accountable for their actions and that the regulations governing their actions should be as strict as those governing the actions of financial accountants.
I find this article very informative and useful in understanding the role of managerial accountants in companies. I also agree that there is a need for more regulations governing the actions of managerial accountants to ensure that they act with more accountability and transparency.
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if a bushel of wheat costs $6.40 in the united states, costs 40 pesos in mexico, and the nominal exchange rate is 10 pesos per dollar, then the real exchange rate is
To find the real exchange rate, we need to convert the prices of the bushel of wheat in both the United States and Mexico to a common currency. In this case, we will use the dollar as the common currency.
First, let's convert the price in Mexico from pesos to dollars. Since the nominal exchange rate is 10 pesos per dollar, we can divide the price in pesos by 10 to get the price in dollars. 40 pesos / 10 pesos per dollar = $4
So, the price of a bushel of wheat in Mexico is $4.
Now, we can calculate the real exchange rate by dividing the price of wheat in the United States by the price of wheat in Mexico.
Real exchange rate = Price in United States / Price in Mexico
Real exchange rate = $6.40 / $4
Real exchange rate = 1.6
Therefore, the real exchange rate is 1.6.
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The following table lists the name, gender, height, and minimum wage 10 people are willing to accept to work as sales clerks at a high-end clothing store.
Name
Gender
Height
Minimum Wage
(Inches)
(Dollars per week)
Latasha F 66 $305
Beth F 63 $320
Eleanor F 66 $347
Andrew M 70 $367
Darnell M 71 $388
Kyoko F 65 $409
Jacques M 70 $429
Sean M 71 $441
Musashi M 66 $463
Rina F 68 $484The lowest wage that the clothing store can pay to hire five sales clerks is
per week.Suppose the head of the clothing store has a preference for tall employees because he thinks it will increase revenue, and thus, he imposes the restriction that all sales clerks hired must be at least 68 inches in height. Under this new regulation, the wage rate the clothing store must pay to attract five sales clerks rises by
per week
To determine the lowest wage that the clothing store can pay to hire five sales clerks, we need to sort the minimum wage values in ascending order and select the fifth lowest value.
Sorted minimum wage values:
$305, $320, $347, $367, $388, $409, $429, $441, $463, $484
The fifth lowest value is $388.
As a result, the clothes store's lowest weekly remuneration for five sales workers is $388.
Now, considering the new regulation that requires a minimum height of 68 inches, we need to find a wage rate that will attract five sales clerks who meet this height requirement.
Adjusted list of candidates who meet the height requirement:
Andrew, Darnell, Jacques, Sean, Musashi, Rina
Sorted minimum wage values for the eligible candidates:
$367, $388, $429, $441, $463, $484
The fifth lowest value is $463.
Therefore, under the new regulation, the wage rate the clothing store must pay to attract five sales clerks rises by $463 - $388 = $75 per week.
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