false. While it is true that when a customer says "no," it indicates their decision not to make a purchase or engage in a particular action, it does not necessarily mean that the decision cannot be changed.
In sales, there is often room for negotiation, addressing concerns, providing additional information, or offering alternative options to potentially change the customer's decision. A skilled salesperson understands the importance of persistence, building relationships, and finding ways to overcome objections. Leaving the office quickly without further attempts to understand and address the customer's concerns may limit the potential for future sales opportunities.
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Scenario 1: Motivation in the Workplace In a meeting with members of Informational Systems operations area, you ask middle managers about the recent sub-par performance in the department and their thoughts about the reasons behind it. They state that their performance goals are set too high, with the vast majority of their employees missing their individual targets across the board. In your education and training to be an organizational behavior consultant, you studied various needs-based motivational theories: - Maslow's hierarchy and the five categories of basic human needs - The McClelland's Theory of Needs - The Two-Factor theory, which describes factors that either motivate people or make them dissatisfied - Goal-Setting Theory Your Task Which of the motivational theory/theories do you think is best for describing human behavior in the workplace? Based on that, how would you construct a work environment using reward strategies, work-life balance considerations, and other approaches outlined in the module?
Title: Goal-Setting Theory: Explaining Human Behavior in the Workplace
Introduction: The Goal-Setting Theory, developed by Edwin Locke and Gary Latham, provides valuable insights into understanding human behavior in the workplace.
This theory suggests that setting goals and objectives enables employees to focus their energy on what is essential, thereby increasing motivation and improving performance. By examining specific strategies and approaches outlined in the module, organizations can construct a work environment that aligns with this theory and promotes employee productivity and satisfaction.
Goal-Setting Theory and Its Impact:
According to the Goal-Setting Theory, specific and challenging goals, accompanied by feedback, lead to better performance compared to vague or nonexistent goals. Employees who understand their performance goals and receive feedback on their progress are more motivated, productive, and satisfied. To effectively implement this theory, organizations can consider the following strategies:
1. Rewards Strategies:
Offering employees rewards for achieving their goals, such as incentives, bonuses, promotions, and public recognition, can be an effective motivator. Rewarding employees for their efforts reinforces goal achievement and encourages continuous improvement.
2. Work-Life Balance Considerations:
Providing a work environment that supports work-life balance is crucial. Offering flexible work schedules, telecommuting options, and on-site childcare services helps employees manage the demands of work and personal life, leading to increased job satisfaction and overall well-being.
3. Other Approaches:
Implementing a comprehensive onboarding process that educates new employees on performance expectations and goal-setting is essential. Regular communication with employees about their performance progress, conducting job satisfaction and employee engagement surveys, and providing opportunities for growth contribute to a motivating work environment. Managers should clearly communicate expectations and help employees understand how their work aligns with the organization's overall objectives.
Conclusion:
The Goal-Setting Theory offers valuable insights into understanding and motivating human behavior in the workplace. By implementing strategies such as rewards for goal achievement, promoting work-life balance, and adopting other approaches outlined in the module, organizations can create an environment that fosters employee motivation, performance, and satisfaction. Establishing specific and challenging goals, providing regular feedback, and ensuring clear communication between managers and employees are key elements of this theory. By embracing the Goal-Setting Theory, organizations can unlock the full potential of their workforce and drive success.
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What is ‘Monetary Base’ and how can it be used to better understand the policy options of the Fed in controlling the money supply? ‘‘What is the formula for the more complex money multiplier? Explain how the currency ratio and excess reserve ratio had a particular role in the ‘Great Recession’ of 2008? How does a public distrust of banks impact economic development and poverty around the world?
Monetary base refers to the total amount of monetary reserves available within the banking system that can be withdrawn by banks from the central bank. The formula for monetary base is as follows:
MB = C + R, where MB is the monetary base, C is the total amount of currency in circulation, and R is the total amount of bank reserves held with the central bank.
The monetary base can be used to better understand the policy options of the Fed in controlling the money supply since it is the foundation for the creation of money within the banking system. The Fed can use monetary policy tools to influence the level of reserves in the banking system, which in turn impacts the monetary base. By controlling the monetary base, the Fed can influence the money supply and stabilize the economy.
The more complex money multiplier formula is as follows: MM = 1 / (RR + ER), where MM is the money multiplier, RR is the required reserve ratio, and ER is the excess reserve ratio. The required reserve ratio is the percentage of deposits that banks are required to hold as reserves, while the excess reserve ratio is the percentage of deposits that banks choose to hold as reserves.
During the Great Recession of 2008, both the currency ratio and excess reserve ratio played a significant role. A high currency ratio meant that people were holding onto more cash, reducing the amount of money that banks had to lend out. Additionally, a high excess reserve ratio meant that banks were holding onto more reserves instead of lending them out, further reducing the amount of money available in the economy.
Public distrust of banks can have a significant impact on economic development and poverty around the world. When people do not trust banks, they are less likely to deposit money or take out loans. This reduces the amount of money available for investment and economic growth, ultimately leading to higher poverty rates. Additionally, a lack of trust in the banking system can lead to financial instability and economic crises.
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Spectrum Corp: makes two products: C and D. The following data have been summarized: (Click the icon to view the data.) The company plans to manufacture 300 units of each product. Calculate the product cost per unit for Products C and D using activity-based costing. (Round your answers th Begin by selecting the formula to allocate overhead (OH) costs. Data table
Product C has a product cost per unit of $2,983.33, while Product D has a product cost per unit of $6,700.
Here are the steps on how to calculate the product cost per unit for Products C and D using activity-based costing:
1. Allocate the overhead costs to the activities.
Setup cost: $1,500 per setupMachine maintenance cost: $10 per machine hour2. Calculate the activity usage for each product.
Product C: 35 setups and 1,500 machine hoursProduct D: 76 setups and 3,700 machine hours3. Allocate the overhead costs to the products.
Product C: ($1,500/setup) * 35 setups + ($10/machine hour) * 1,500 machine hours = $52,500Product D: ($1,500/setup) * 76 setups + ($10/machine hour) * 3,700 machine hours = $117,5004. Calculate the product cost per unit.
Product C: ($52,500 / 300 units) + $600/unit + $300/unit = $2,083.33Product D: ($117,500 / 300 units) + $2,400/unit + $200/unit = $4,100Here is the table of the product cost per unit for Products C and D:
Product Direct materials cost per unit Direct labor cost per unit Indirect manufacturing cost per unit Product cost per unit
C $600 $300 $2,083.33 $2,983.33
D $2,400 $200 $4,100 $6,700
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Jiminez, Incorporated, is an all-equity firm. The cost of the company's equity is currently 11.6 percent. The company is currently considering a project that will cost \$11.67 million and last six years. The company uses straight-line depreciation. It will finance it with 60% debt with an interest rate of 8%. The project will generate revenues minus expenses each year in the amount of $3.37 million. If the company has a tax rate of 24 percent, what is the net present value of the project?
Jiminez, Incorporated is an all-equity firm, and the cost of the company's equity is 11.6 percent. A project will cost $11.67 million and last six years. The company will finance the project with 60% debt with an interest rate of 8%.
The project will generate revenues minus expenses each year of $3.37 million, and straight-line depreciation will be used by the company.
If the company has a tax rate of 24 percent, Solution:Given data:Cost of equity = 11.6%Cost of debt = 8%Tax rate = 24%Loan repayment (L) = 60%Revenue – Expenses = $3.37 million each yearProject life = 6 yearsDepreciation method = Straight-lineDepreciation = Total depreciation/Useful life,Useful life = Project life = 6 yearsTotal depreciation = $11.67 millionNet present value (NPV) =Calculation.
To find out the total depreciation,Divide the total project cost by the useful life of the project:$11.67 million / 6 years = $1.945 millionThe depreciation amount for each year will be $1.945 million.Divide loan repayment by 100 to convert it into a percentage:60% / 100 = 0.6The amount of debt for the project will be $11.67 million * 0.6 = $7 million.The interest on debt will be calculated as:$7 million * 8% = $0.56 millionFor the project, the yearly interest payment will be $0.56 million / 6 years = $0.0933 million.
The total amount of tax paid will be calculated as:
($3.37 million – $1.945 million – $0.0933 million) * 24% = $0.138 million
The net cash flow each year is:Year 1: $3.37 million - $1.945 million - $0.0933 million - $0.138 million = $1.1937 millionYear 2: $3.37 million - $1.945 million - $0.0933 million - $0.138 million = $1.1937 millionYear 3: $3.37 million - $1.945 million - $0.0933 million - $0.138 million = $1.1937 millionYear 4: $3.37 million - $1.945 million - $0.0933 million - $0.138 million = $1.1937 millionYear 5: $3.37 million - $1.945 million - $0.0933 million - $0.138 million = $1.1937 millionYear 6: $3.37 million - $1.945 million - $0.0933 million - $0.138 million = $1.1937 millionCalculating present value (PV) of net cash flows.
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explain. in details
Jenny has a $82,500 basis in her 50 percent partnership interest in the JM Partnership before receiving any distributions. This year JM makes a proportionate operating distribution to Jenny of a parcel of land with an $110,000 fair value and a $89,700 basis to JM. The land is encumbered with a $42,850 mortgage (JM's only liability). What is Jenny's basis in the land and her remaining basis in JM after the distribution? Multiple Choice
$110,000 land basis, $0 JM basis.
$89,700 land basis, $0 JM basis.
$89,700 land basis, $14,225 JM basis.
$110,000 land basis, $14,225 JM basis.
$89,700 land basis, $14,225 JM basis. after receiving the distribution of the land, Jenny's basis in the land is equal to JM's basis, which is $89,700.
Jenny's remaining basis in JM is the difference between her initial basis and the land basis, which is $82,500 - $89,700 = -$7,200. However, a partner's basis cannot be negative, so the remaining basis in JM is $0. Therefore, Jenny's basis in the land is $89,700 and her remaining basis in JM is $0.
Certainly! Let's break down the scenario step by step:
1. Jenny's initial basis in her partnership interest in the JM Partnership is $82,500.
2. The partnership, JM, makes a distribution to Jenny in the form of a parcel of land. The fair value of the land is $110,000, and JM's basis in the land is $89,700.
3. However, the land is encumbered with a mortgage of $42,850, which is JM's only liability.
Now let's calculate Jenny's basis in the land and her remaining basis in JM after the distribution:
Jenny's basis in the land:
Since the distribution is proportionate, Jenny's basis in the land is equal to JM's basis, which is $89,700.
Jenny's remaining basis in JM:
To calculate the remaining basis, we subtract the land basis from Jenny's initial basis in the partnership:
$82,500 - $89,700 = -$7,200.
However, a partner's basis cannot be negative. Therefore, Jenny's remaining basis in JM is $0.
In summary, after the distribution, Jenny's basis in the land is $89,700, and her remaining basis in JM is $0. Therefore, the correct answer is: $89,700 land basis, $0 JM basis.
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5. Suppose Cigna, a PPO payer, is responsible for revenues of $8,000,000 per year. The Cigna contract is up for renegotiation in July of 2022, and St. Elizabeth desires a 3% increase to net revenue. a. Assuming all else remains constant and Cigna rate increases produce the 3% increase it penciled into the rate schedule, how much revenue will Cigna provide the system annually if it achieves its 3% increase goal?
St. Elizabeth desires a 3% increase to net revenue from Cigna, which is a PPO payer. The Cigna contract is due for renegotiation in July 2022 and has an annual revenue responsibility of 8,000,000.
If all else remains constant, then how much revenue will Cigna provide the system annually if it achieves its 3% increase goal?
Solution:
Given that,
The Cigna contract has a revenue responsibility of 8,000,000 per year
St. Elizabeth desires a 3% increase to net revenue The new expected annual revenue from Cigna after renegotiation is calculated by adding 3% to the current revenue of Cigna.
Then it is calculated as shown below;
New annual revenue from Cigna = 8,000,000 + (3/100)*$8,000,000
New annual revenue from Cigna = 8,000,000 + 240,000
New annual revenue from Cigna = 8,240,000
If Cigna achieves the desired 3% increase goal, then it will provide 8,240,000 to the system annually.
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Ogier Incorporated currently has $780 million in sales, which are projected to grow by 14% in Year 1 and by 6% in Year 2. Its operating profitability (OP) is 6%, and its capital requirement (CR) is 60%. Do not round intermediate calculations. Enter your answers in millions. For example, an answer of $1 milion should be entered as 1 , not 1,000,000. Round your answers to two decimal places. a. What are the projected sales in Years 1 and 2 ? Sales in Year 1: $ Sales in Year 2: $ b. What are the projected amounts of net operating profit after taxes (NOPAT) for Years 1 and 2 ? NOPAT for Year 1:$ NOPAT for Year 2:$ million million c. What are the projected amounts of total net operating capital (OpCap) for Years 1 and 2 ? OpCap for Year 1:$ OpCap for Year 2: $ million d. What is the projected FCF for Year 2 ?
The projected sales in Year 1: $890.40 million and Projected sales in Year 2: $944.86 million, the projected amounts of net operating profit after taxes (NOPAT) for Years 1 and 2 are NOPAT for Year 1: $53.424 million and NOPAT for Year 2: $56.692 million.
a. Projected sales in Year 1: $890.40 million and Projected sales in Year 2: $944.86 million
Year 1: Sales in Year 0 × (1 + growth rate)
Sales in Year 1 = $780 million × (1 + 14%)
= $890.40 million
Year 2: Sales in Year 1 × (1 + growth rate)
Sales in Year 2 = $890.40 million × (1 + 6%)
= $944.86 million
b. Projected amounts of net operating profit after taxes (NOPAT) for Years 1 and 2NOPAT for Year 1: $53.424 million and NOPAT for Year 2: $56.692 million
[tex]Year 1: NOPAT = OP × (Sales – Operating costs)[/tex]
NOPAT = 6% × ($890.40 million – ($780 million × 0.6))
= $53.424 million
Year 2: NOPAT = OP × (Sales – Operating costs)
NOPAT = 6% × ($944.86 million – ($890.40 million × 0.6))
= $56.692 million
c. Projected amounts of total net operating capital (OpCap) for Years 1 and 2OpCap for Year 1: $468.00 million and OpCap for Year 2: $534.34 million
Year 1: OpCap = Sales / Capital requirement
OpCap = $890.40 million / 60%
= $468.00 million
Year 2: OpCap = Sales / Capital requirement
OpCap = $944.86 million / 60%
= $534.34 million
The projected amounts of total net operating capital (OpCap) for Years 1 and 2 are OpCap for Year 1: $468.00 million and OpCap for Year 2: $534.34 million and the projected FCF for Year 2 is $15.851 million.
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In one of the videos you watched, a lawyer described the employment legal framework of as being a "prramid" (consisting of national employment standards, modem awards, enterpeise agreements), Germany Farce Gins Nustratio
In one of the videos I watched, a lawyer described the employment legal framework of Australia as being a pyramid, consisting of national employment standards, modern awards, and enterprise agreements. This pyramid analogy illustrates how each layer of the employment legal framework in Australia builds upon the previous one, creating a comprehensive and cohesive structure to protect workers and their rights.
The foundation of this pyramid is the National Employment Standards (NES), which are minimum standards that apply to all employees in Australia. The NES includes provisions such as maximum weekly working hours, annual leave entitlements, and parental leave rights, among others. These standards cannot be undermined or traded away through modern awards or enterprise agreements.
The next level of the pyramid is modern awards, which are industry or occupation-specific standards that provide additional entitlements and conditions above the NES. These awards are determined by the Fair Work Commission and are mandatory for employers to follow. Modern awards cover a wide range of industries and occupations, from hospitality to healthcare and everything in between.
Finally, the top level of the pyramid is enterprise agreements. These are agreements made between employers and employees, or between employers and their representatives, that set out specific terms and conditions of employment. Enterprise agreements can provide for entitlements and conditions that are more favourable than the NES and modern awards, but they must still meet or exceed the minimum standards.
Overall, the employment legal framework in Australia provides a comprehensive and robust system to protect workers' rights and ensure they receive fair treatment in the workplace. The pyramid analogy helps to explain how each layer of the framework builds upon the previous one to create a cohesive and effective system for employees and employers alike.
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Which type of takeover defence seeks the assistance of a 'white
knight'?
acquisition by a friendly party
disclosure of favourable information
claims and appeals
poison pill
A white knight is a friendly company that acquires a corporation under the threat of a hostile takeover by another company.
White knights are usually sought out when the board of directors of the target company determines that the acquiring company's intentions are not in the best interests of the target company or its shareholders.
A white knight is a type of takeover defense strategy used by companies to defend against hostile takeovers. It occurs when the target company, in order to avoid a hostile takeover, seeks the assistance of a friendly company, called a white knight, to acquire it.
White knights are often preferred to other takeover defense strategies, such as poison pills or golden parachutes because they do not harm shareholders and allow for a peaceful takeover.
Therefore, acquisition by a friendly party is the type of takeover defense that seeks the assistance of a 'white
knight'.
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Kathy Myers frequently purchases stocks and bonds, but she is uncertain how to determine the rate of return that she is earning. For example, three years ago she paid $24,000 for 890 shares of Malti Company's common stock. She recelved a $837 cash dividend on the stock at the end of each year for three years. At the end of three years, she sold the stock for $25.000. Kathy would like to earn a return of at least 13% on all of her investments. She is not sure whether the Malt Company stock provide a 13% return and would like some help with the necessary computations. Required: 1. Compute the net present value that Kathy eamed on her investment in Malti Company stock. 2. Did the Malti Company stock provide o 13% return? Complete this question by entering your answers in the tabs below. Compute the net present value that Kathy earned on her investment in Malti Company stock. Note: Negative amounts should be indicated by a minus sign. Round your final answer to the nearest whole dotlar amount
We must first determine the present values of the cash dividends received and the stock's selling price, then deduct the initial investment to arrive at the net present value (NPV) that Kathy made on her investment in Malti Company stock.
1. Cash Dividend Present Value:Using the equation PV = CF / (1 + r)n, where PV is the present value, CF is the cash flow, r is the needed rate of return, and n is the number of periods, we may determine the present value of a cash flow.In this instance, Kathy got a cash dividend of $837 over the course of three years. The present value of the cash dividends can be computed by assuming a needed rate of return of 13% (0.13).
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Ojo Outerwear Corporation can manufacture mountain climbing shoes for $32.10 per pair in variable raw material costs and $23.05 per pair in variable labor expense. The shoes sell for $148 per pair. Last year, production was 150,000 pairs. Fixed costs were $1,210,000.
a. What were total production costs? (Do not round intermediate calculations and round your answer to the nearest whole number, e.g., 32.)
b. What is the marginal cost per pair? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.)
c. What is the average cost per pair? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.)
d. If the company is considering a one-time order for an extra 8,000 pairs, what is the minimum acceptable total revenue from the order? (Do not round intermediate calculations and round your answer to the nearest whole number, e.g., 32.)
a. Total production costs can be calculated by adding variable costs (raw material and labor) to fixed costs.
Variable costs = Variable raw material costs + Variable labor expense
= $32.10 + $23.05
= $55.15 per pair
Total production costs = Variable costs per pair * Number of pairs produced
= $55.15 * 150,000
= $8,272,500
b. Marginal cost per pair is the additional cost incurred to produce one more pair of shoes. In this case, the variable costs per pair ($55.15) represent the marginal cost.
Marginal cost per pair = $55.15
c. Average cost per pair can be calculated by dividing the total production costs by the number of pairs produced.
Average cost per pair = Total production costs / Number of pairs produced
= $8,272,500 / 150,000
= $55.15
d. To determine the minimum acceptable total revenue from the order of 8,000 pairs, we need to calculate the additional cost incurred and add it to the minimum acceptable profit.
Additional cost for 8,000 pairs = Variable costs per pair * Number of additional pairs
= $55.15 * 8,000
= $441,200
Minimum acceptable total revenue = Total production costs + Additional cost + Minimum acceptable profit
Since the question doesn't provide a specific minimum acceptable profit, we'll assume it as zero for simplicity.
Minimum acceptable total revenue = Total production costs + Additional cost
= $8,272,500 + $441,200
= $8,713,700
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#10 During June 2022, your company recorded depreciation of $8,000 on equipment in your factory. What effect did this have on your company’s accounting system? (select only one option from below)
The balance in the factory overhead account will decrease, and the balance in the Accumulated Depreciation account will increase.
The balance in the depreciation expense account will increase, and the balance in the Factory Overhead account will decrease.
The balance in the factory overhead account will increase, and the balance in the Accumulated Depreciation account will decrease.
The balance in the factory overhead account will increase, and the balance in the Accumulated Depreciation account will increase.
The balance in the depreciation expense account will increase, and the balance in the Accumulated Depreciation account will decrease.
The balance in the factory overhead account will decrease, and the balance in the Accumulated Depreciation account will decrease.
The balance in the depreciation expense account will increase, and the balance in the Factory Overhead account will increase.
The balance in the depreciation expense account will increase, and the balance in the Accumulated Depreciation account will increase.
The balance in the Depreciation Expense account will increase, and the balance in the Accumulated Depreciation account will increase. During June 2022, when your company recorded depreciation of $8,000 on equipment in your factory, the effect this had on your company's accounting system is the balance in the Depreciation Expense account will increase, and the balance in the Accumulated Depreciation account will increase.
Depreciation refers to the allocation of the cost of a tangible asset over its useful life. Each accounting period, a portion of the asset's cost is expensed, and the remainder is reported on the balance sheet as a contra asset account known as Accumulated Depreciation. The Depreciation Expense account reflects the total amount of depreciation cost that has been expensed since the asset was acquired.
The balance in the Depreciation Expense account increases whenever depreciation is recorded. The Accumulated Depreciation account reflects the total amount of depreciation expense that has been recorded and reduces the carrying value of the asset. The balance in the Accumulated Depreciation account increases whenever depreciation is recorded. To summarize, when a company records depreciation, it increases the balance in the Depreciation Expense account and the Accumulated Depreciation account.
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table: sunshine flower vase company number of workers daily total revenue 3 $1,350 4 1,580 5 1,760 6 1,885 7 1,965 8 2,015 if there is competition from new immigrants that lowers the market wage for each worker from $100 to $70 per day, how many workers will the firm hire? table: sunshine flower vase company number of workers daily total revenue 3 $1,350 4 1,580 5 1,760 6 1,885 7 1,965 8 2,015 if there is competition from new immigrants that lowers the market wage for each worker from $100 to $70 per day, how many workers will the firm hire? 6 5 7 4
The marginal revenue starts to decrease after the 6th worker. Therefore, the firm is likely to hire 6 workers.
How to explain the informationFrom the given table, we can observe that the daily total revenue increases as the number of workers increases. However, at some point, the marginal revenue from hiring an additional worker starts to decrease. This is evident when looking at the change in daily total revenue for each additional worker.
As we can see, the marginal revenue starts to decrease after the 6th worker. This suggests that hiring more workers beyond this point will result in diminishing returns. Therefore, the firm is likely to hire 6 workers.
It's worth noting that the change in market wage from $100 to $70 per day doesn't affect the hiring decision since it doesn't directly impact the revenue. The decision to hire 6 workers is based solely on the relationship between the number of workers and the daily total revenue.
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Cherokee Manufacturing Company established the following standard price and cost data: Cherokee planned to produce and sell 2, 000 units. Actual production and sales amounted to 2, 200 units. Required: a. Determine the sales and variable cost volume variances. b. Classify the variances as favorable (F) or unfavorable (U) d. Determine the amount of fixed cost that will appear in the flexible budget. e. Determine the fixed cost per unit based on planned activity and the fixed cost per unit based on actual activity. Complete this question by entering your answers in the tabs below. Determine the sales and variable cost volume variances and classify the variances as favorable (F) or unfavorable (U). (Select "None" if there is no effect (i.e., zero variance).) Determine the amount of fixed cost that will appear in the flexible budget. Determine the fixed cost per unit based on planned activity and the fixed cost per unit based answers to 2 decimal places.)
To calculate the sales and variable cost volume variances, we need to compare the actual results with the standard data for Cherokee Manufacturing Company. Let's assume the standard price per unit is $10, and the standard variable cost per unit is $6.
a. Sales Volume Variance:
Actual units sold - Planned units sold = 2,200 - 2,000 = 200 units
Sales Volume Variance = Sales Volume Variance per Unit * Sales Volume Variance (units)
Since the standard price per unit is $10, the Sales Volume Variance per Unit is $10.
Sales Volume Variance = $10 * 200 units = $2,000 (U)
b. Variable Cost Volume Variance:
Actual units produced and sold - Planned units sold = 2,200 - 2,000 = 200 units
Variable Cost Volume Variance = Variable Cost Volume Variance per Unit * Variable Cost Volume Variance (units)
Since the standard variable cost per unit is $6, the Variable Cost Volume Variance per Unit is $6.
Variable Cost Volume Variance = $6 * 200 units = $1,200 (U)
c. The fixed cost does not have a volume variance, as it remains the same regardless of the level of activity. Therefore, the amount of fixed cost that will appear in the flexible budget will be the same as the planned fixed cost.
d. To determine the fixed cost per unit based on planned activity, we divide the planned fixed cost by the planned units:
Fixed Cost per Unit (Planned Activity) = Planned Fixed Cost / Planned Units
Since the planned units are 2,000 and the planned fixed cost is not provided in the information, we cannot calculate the fixed cost per unit based on planned activity.
e. To determine the fixed cost per unit based on actual activity, we divide the fixed cost by the actual units:
Fixed Cost per Unit (Actual Activity) = Fixed Cost / Actual Units
Since the fixed cost is not provided in the information, we cannot calculate the fixed cost per unit based on actual activity.
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Question (18+3=21 marks) This question has two parts. a) Roxanne commenced her own business as an architect on 1 October 2021. The following transaction occurred during the first month of operation: Required: Prepare the general journal entries to record the above transactions. Narrations are not required. (18 marks) Quoction_oentinuod \begin{tabular}{|l|l|l|l|} \hline DATE & DETAILS & DEBIT & CREDIT \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline \end{tabular} b) Kate commenced business as a sole trader under the name "Canine Capers" on 1 Deesmber 2020. Canine Capers is registered for GST. The following transactions occurred during the month of January 2020: Note: GST needs to be accounted for. Required: Post relevant entries to the 'Cash at Bank' ledger and calculate the closing balance. (3 marke! Opening balance for the 'Cash at Bank' at 1/1/2020 is $23,000 (DR) Cash at Bank The mark out of 21 will convert to a percentage out of 3% for the unit.
Oct 1: Cash $10,000, Owner's Equity $10,000 | Oct 5: Office Equipment $5,000, Cash $2,500, Accounts Payable $2,500 | Oct 10: Cash $2,000, Accounts Receivable $2,000 | Oct 15: Rent Expense $1,500, Cash $1,500 | Oct 20: Accounts Receivable $3,500, Service Revenue $3,500 | Oct 25: Cash $1,500, Accounts Receivable $1,500 | Oct 30: Office Supplies Expense $500, Cash $500.
Assuming the following transactions occurred during the first month of operation for Roxanne's architecture business:
1. On October 1, 2021, Roxanne invested $10,000 cash into the business.
2. On October 5, 2021, she purchased office equipment worth $5,000 and paid half of the amount in cash, with the remainder on credit.
3. On October 10, 2021, Roxanne received $2,000 in cash for architectural services provided.
4. On October 15, 2021, she paid $1,500 in rent for office space.
5. On October 20, 2021, Roxanne billed a client $3,500 for architectural services performed.
6. On October 25, 2021, she received $1,500 cash payment from the client mentioned above.
7. On October 30, 2021, Roxanne paid $500 for office supplies.
Based on these transactions, the general journal entries could be recorded as follows:
DATE | DETAILS | DEBIT | CREDIT
-----------------------------------------------------------------
Oct 1 | Cash | $10,000 |
| Owner's Equity | | $10,000
Oct 5 | Office Equipment | $5,000 |
| Cash | $2,500 |
| Accounts Payable | | $2,500
Oct 10 | Cash | $2,000 |
| Accounts Receivable | | $2,000
Oct 15 | Rent Expense | $1,500 |
| Cash | | $1,500
Oct 20 | Accounts Receivable | $3,500 |
| Service Revenue | | $3,500
Oct 25 | Cash | $1,500 |
| Accounts Receivable | | $1,500
Oct 30 | Office Supplies Expense | $500 |
| Cash | | $500
Please note that these entries are examples and may not accurately reflect the actual transactions. It is important to have complete information about each transaction in order to provide accurate journal entries.
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Suppose that Pandora stock is currently selling at $80 per share. David purchased 1,500 shares of Pandora stock using $78,000 of his own money, borrowing the remainder of purchase price form his stockbroker. The annual interest charged on the margin loan is 10%. e. Find the rate of return on David's margined position if Pandora stock is selling after one year at: i. $104 ii. $80 iii. $56 Given that David's initial investment was $78,000 and Pandora stock paid no dividends during the past 12 months. Show all your calculations. 8 marks f. Continue to assume that, one year has passed, David's initial investment was $78,000 and Pandora stock paid no dividends during the past 12 months. How far can Pandora stock's price fall before David will get a margin call, if the maintenance margin is i. 30% ii. 40% Show all your calculations.
David purchased 1,500 shares of Pandora stock at a price of 80 per share using 78,000 of his own money. He borrowed the remainder of the purchase price from his stockbroker.
The annual interest charged on the margin loan is 10%.e.
i. If Pandora stock is selling after one year at 104, the value of David's investment would be 1500 shares * 104 per share = 156,000.
David borrowed 30 * 1500 shares = 45,000 at the rate of 10% p.
a. Interest paid on the margin loan would be 10% * 45,000 = 4,500.
Rate of Return on David's margined position = (156,000 - 78,000 - 4,500)
/78,000 = 75.64%.e.
ii. If Pandora stock is selling after one year at 80, the value of David's investment would be 1500 shares * 80 per share = 120,000.
David borrowed 32 * 1500 shares = 48,000 at the rate of 10% p.
a. Interest paid on the margin loan would be 10% * 48,000 = 4,800.
Rate of Return on David's margined position = (120,000 - 78,000 - 4,800)/78,000 = 42.31%.e.
iii. If Pandora stock is selling after one year at $56, the value of David's investment would be 1500 shares * 56 per share = 84,000.
David borrowed $26 * 1500 shares = $39,000 at the rate of 10% p.
a. Interest paid on the margin loan would be 10% * 39,000 = 3,900.
Rate of Return on David's margined position = (84,000 - 78,000 - 3,900)/78,000 = 6.92%.
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Wanda’s utility function is (x,y) = x + 46y − 2y2. Her income is CHF 135. If the price of x is CHF 1 and the price of y is CHF 18, how many units of good x will Wanda demand?
Please provide a thorough verbal and numerical explanation.
Wanda's utility function is given by (x,y) = x + 46y - 2y² where x is the number of units of good x consumed and y is the number of units of good y consumed. The price of x is CHF 1 and the price of y is CHF 18. Wanda's income is CHF 135. We need to find out how many units of good x will Wanda demand. Let's solve the problem step by step.
Solution: To find the demand function for good x, we need to maximize the utility function with respect to x, subject to the budget constraint. Let x* be the optimal quantity of good x that Wanda demands and y* be the corresponding quantity of good y that she demands. Then, the Lagrangian function is given by:
L(x,y,λ) = x + 46y - 2y² + λ(135 - x - 18y)
where λ is the Lagrange multiplier. Taking the partial derivative of L with respect to x, y, and λ, we get:
∂L/∂x = 1 - λ = 0
∴ λ = 1∂L/∂y = 46 - 4y - 18λ = 0
∴ λ = (46 - 4y)/18
∂L/∂λ = 135 - x - 18y = 0
Using the first and third equations, we can eliminate λ and solve for x and y in terms of each other:
x = 135 - 18y
Substituting this into the second equation and solving for y, we get:
y* = 5.5
Substituting this into the equation for x, we get:
x* = 135 - 18y* = 135 - 18(5.5) = 36
Therefore, Wanda will demand 36 units of good x.
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The company's income statements for the Current Year and 1 Year Ago, follow. Additional information about the company follows. Common stock market price, December 31, Current Year $29.00 Common stock market price, December 31, 1 Year Ago 27.00 Annual cash dividends per share in Current Year 0.32 For both the current year and one year ago, compute the foliowing ratios: 1. Return on commen stockholders' equity. 2. Dividend yiold. 3. Price-carnings ratio on Docember 31. 3a. Assuming Simon's competitor has a price-earnings ratio of 6 , which company has higher morket expectations for future growth? Complete this question by entering your answers in the tabs below. Compute the return on common stockholders' equity for each year: Compute the dividend yield for each year. Note: Round your answers to 2 decimal places. Compute the price-earnings ratio for each year. Note: Round your answers to 2 decimal places. 1. Return on common stockholders' equity. 2. Dividend yield. 3. Price-earnings ratio on December 31. 3a. Assuming Simon's competitor has a price-earnings ratio of 6 , which company has higher market expectations for fo Complete this question by entering your answers in the tabs below. Assuming Simon's competitor has a price-earnings ratio of 6 , which company has higher market expectations for future growth? Which company has higher market expectations for future growth?
Return on common stockholders' equity: Return on common stockholders' equity is an essential ratio that indicates how successful a company is at generating profit from the money investors have invested. This ratio is computed by dividing the net income by the average common stockholders' equity.
For the Current Year: $8,300 / (($50,500 + $44,000) / 2) = 16.02%
For 1 Year Ago: $7,500 / (($45,500 + $43,000) / 2) = 17.05%
Dividend yield: The dividend yield is the ratio of annual dividends per share to the stock's market price per share.
For the Current Year: $0.32 / $29.00 = 1.10%
For 1 Year Ago: $0.32 / $27.00 = 1.19%
Price-earnings ratio: The price-earnings (P/E) ratio is a financial measure that compares a company's stock price to its earnings. It is computed by dividing the market price per share by the earnings per share.
For the Current Year: $29.00 / $2.10 = 13.81
For 1 Year Ago: $27.00 / $1.80 = 15.00
Based on the price-earnings ratios of Simon's company and its competitor, the higher market expectation for future growth can be found. Assuming Simon's competitor has a P/E ratio of 6, the company with a higher market expectation for future growth is Simon's company.
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Which of the following transactions best represents the government playing the role of provider of a good or service? A)The federal government provides Social Security checks for those citizens who qualify for the payment. The state government imposes a tax on cigarette purchases to discourage smoking. The state government pays for police to patrol the state and federal roadways. The local government purchases office furniture for renovations to its Department of Parks and Recreation.
The government is not directly providing a good or service to individual citizens as it does with Social Security checks.
The transaction that best represents the government playing the role of provider of a good or service is:
A) The federal government provides Social Security checks for those citizens who qualify for the payment.
This transaction involves the federal government directly providing financial assistance to eligible citizens in the form of Social Security checks.
Social Security is a government-run program designed to provide income support to retired individuals, disabled persons, and their dependents.
The government collects taxes from workers during their working years and uses those funds to provide regular payments to eligible recipients.
By providing Social Security checks, the government acts as a provider of a social welfare service, ensuring a basic level of income security for individuals who qualify for the program.
This reflects the government's role in promoting social well-being and addressing the needs of its citizens.
The other transactions listed involve the government taking different roles. Imposing taxes on cigarette purchases is a measure to discourage smoking and regulate behavior.
Paying for police patrols and purchasing office furniture are more related to the government's role in maintaining law and order and providing infrastructure and resources for public services.
However, in these cases, the government is not directly providing a good or service to individual citizens as it does with Social Security checks.
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The transaction that best represents the government as a provider of a good or service is when the state government pays for police to patrol the state and federal roadways. This is a public service provided by the government, funded by citizen tax dollars. The other examples do not directly provide a public good or service.
Explanation:Out of the given transactions, the one that best represents the government as a provider of a good or service is the state government paying for police to patrol the state and federal roadways. This is an example of the government providing a public service that benefits all citizens. The government becomes a provider when it employs individuals (such as law enforcement officers) to serve the public, financed by citizens through their taxes.
The government's role is to create a structure that facilitates the availability of goods and services. For instance, at the local level, the government allocates funds for services like education, police and fire departments, and the maintenance of public parks. At the state level, monies are designated for state colleges and universities, maintenance of roads and bridges, and wildlife management.
Therefore, the government spending for police patrolling state and federal roadways is a precise example of the government's role as a provider as it contributes to the overall safety and security of the community - a key public service.
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Assume that the United States economy is in long-run equilibrium with an expected inflation rate of 6 percent
and an unemployment rate of 5 percent. The nominal interest rate is 8 percent.
(a) Using a correctly labeled graph with both the short-run and long-run Phillips curves and the relevant
numbers from above, show the current long-run equilibrium as point A.
(b) Calculate the real interest rate in the long-run equilibrium.
(c) Assume now that the Federal Reserve decides to target an inflation rate of 3 percent. What open-market
operation should the Federal Reserve undertake?
(d) Using a correctly labeled graph of the money market, show how the Federal Reserve’s action you identified
in part (c) will affect the nominal interest rate.
(e) How will the interest rate change you identified in part (d) affect aggregate demand in the short run?
Explain.
(f) Assume that the Federal Reserve action is successful. What will happen to each of the following as the
economy approaches a new long-run equilibrium?
(i) The short-run Phillips curve. Explain.
(ii) The natural rate of unemployment
The long-run equilibrium of an economy occurs when the economy is operating at its natural rate of unemployment and the expected rate of inflation. In this case, the United States economy is in long-run equilibrium with an expected inflation rate of 6 percent and an unemployment rate of 5 percent. The nominal interest rate is 8 percent.
(a) To show the long-run equilibrium on a graph, we need to plot the short-run and long-run Phillips curves. The short-run Phillips curve represents the trade-off between inflation and unemployment in the short run, while the long-run Phillips curve represents the natural rate of unemployment and the expected rate of inflation. The current long-run equilibrium can be represented as point A on the graph.
(b) To calculate the real interest rate in the long-run equilibrium, we need to subtract the expected inflation rate from the nominal interest rate. In this case, the real interest rate would be 8 percent - 6 percent = 2 percent.
(c) If the Federal Reserve decides to target an inflation rate of 3 percent, they should undertake an open-market operation to decrease the money supply. This can be done by selling government bonds in the open market, which would reduce the amount of money in circulation.
(d) The open-market operation undertaken by the Federal Reserve will affect the nominal interest rate. When the money supply decreases, the demand for money will exceed the supply, leading to an increase in the nominal interest rate.
(e) An increase in the nominal interest rate will affect aggregate demand in the short run. When the interest rate increases, borrowing becomes more expensive, leading to a decrease in consumption and investment. This will result in a decrease in aggregate demand.
(f) If the Federal Reserve's action is successful, and the economy approaches a new long-run equilibrium, the following will happen:
(i) The short-run Phillips curve will shift to the left. This is because a decrease in the inflation rate targeted by the Federal Reserve will result in a decrease in the expected rate of inflation. As a result, there will be a decrease in the trade-off between inflation and unemployment in the short run.
(ii) The natural rate of unemployment will remain unchanged. The long-run equilibrium represents the natural rate of unemployment, which is determined by structural factors in the economy. The Federal Reserve's action does not directly affect the natural rate of unemployment.
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Montana Mower Manufacturing Company has three divisions. Engine components are transferred from Components to Assembly. Assembled engines are transferred from Assembly to the Mower Division. Costs for each division are given below. Mowers are sold on a competitive outside market for $125. There are no outside markets for engine components or assembled engines. Division Name Components Assembly Mower Total variable costs $50 per package of components $10 per engine plus transfer price paid to Components $100 per mower plus transfer price paid to Assembly Total division fixed costs $55,000 $55,000 $110,000 This period, Components sends Assembly 5,000 packages of engine components.
To calculate the total cost and profit for each division, let's break down the costs and transfers step by step:
1. Components Division:
Total variable costs: $50 per package of componentsTotal fixed costs: $55,000Since Components sends 5,000 packages of engine components to Assembly, the total variable cost for Components would be:
Total variable cost = Total variable cost per package * Number of packages
Total variable cost = $50 * 5,000
Total variable cost = $250,000
2. Assembly Division:
Total variable costs: $10 per engine plus the transfer price paid to ComponentsTotal fixed costs: $55,000Since Components sends 5,000 packages of engine components, Assembly receives 5,000 packages of components. To calculate the total variable cost for Assembly, we need to consider the cost of engines and the transfer price paid to Components.
The cost of engines would be:
Cost of engines = Total variable cost per engine * Number of engines
Cost of engines = $10 * 5,000
Cost of engines = $50,000
Now, we need to consider the transfer price paid to Components. Since there is no information provided about the transfer price, we'll assume it to be $0 for simplicity.
Total variable cost for Assembly = Cost of engines + Transfer price paid to Components
Total variable cost for Assembly = $50,000 + $0
Total variable cost for Assembly = $50,000
3. Mower Division:
Total variable costs: $100 per mower plus the transfer price paid to AssemblyTotal fixed costs: $110,000Since Assembly receives 5,000 engines, the number of mowers produced would be the same as the number of engines received, which is 5,000.
The total variable cost for Mower Division would be:
Total variable cost = Total variable cost per mower * Number of mowers
Total variable cost = $100 * 5,000
Total variable cost = $500,000
To calculate the transfer price paid to Assembly, we'll assume it to be $0, as there is no information provided.
Now, let's calculate the total cost and profit for each division:
Components Division:
Total cost = Total variable cost + Total fixed cost
Total cost = $250,000 + $55,000
Total cost = $305,000
Profit for Components Division = Revenue - Total cost
Profit = $0 (since there is no outside market for engine components) - $305,000
Profit = -$305,000
Assembly Division:
Total cost = Total variable cost + Total fixed cost
Total cost = $50,000 + $55,000
Total cost = $105,000
Profit for Assembly Division = Revenue - Total cost
Profit = $0 (since there is no outside market for assembled engines) - $105,000
Profit = -$105,000
Mower Division:
Total cost = Total variable cost + Total fixed cost
Total cost = $500,000 + $110,000
Total cost = $610,000
Profit for Mower Division = Revenue - Total cost
Profit = ($125 * 5,000) - $610,000
Profit = $625,000 - $610,000
Profit = $15,000
Please note that in this scenario, the Components Division and Assembly Division are operating at a loss, while the Mower Division is generating a profit of $15,000.
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gross domestic product (gdp) levels tend to be somewhat understated, since they don't include any illegal activities, which can represent a significant portion of some countries' production . TRUE or FALSE
TRUE. GDP levels tend to be understated because they exclude illegal activities, which can represent a significant portion of some countries' production.
Gross Domestic Product (GDP) levels tend to be somewhat understated because they do not include illegal activities. GDP is a measure of the total value of goods and services produced within a country's borders, and it is primarily based on official and legal economic activities. Illegal activities, such as black market transactions, smuggling, and other illicit trade, are not accounted for in the calculation of GDP. As a result, the actual economic output of a country, which includes illegal activities, is not fully reflected in the reported GDP figures.
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Which of the following term refers to the process of reducing the severity of vulnerabilities in vulnerability management life cycle?
Remediation
Vulnerability Assessment
Verification
Risk Assessment
The term that refers to the process of reducing the severity of vulnerabilities in vulnerability management life cycle is Remediation.
Remediation is the process of fixing or mitigating a vulnerability. This can be done by applying a patch, updating software, or changing configurations. The goal of remediation is to reduce the severity of a vulnerability so that it no longer poses a risk to the organization.
Vulnerability assessment is the process of identifying and classifying vulnerabilities. This is done by scanning systems and applications for known vulnerabilities. The goal of vulnerability assessment is to identify vulnerabilities that need to be remediated.
Verification is the process of ensuring that a vulnerability has been remediated. This is done by rescanning systems and applications to confirm that the vulnerabilities have been patched or updated.
Risk assessment is the process of evaluating the likelihood and impact of a vulnerability. This is done by considering the nature of the vulnerability, the assets that are at risk, and the potential impact of a successful attack. The goal of risk assessment is to identify vulnerabilities that pose the greatest risk to the organization.
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TLC Inc. manufactures large-scale, high-performance computer systems. In a recent annual report, the balance sheet included the following information ($ in millions):
2015 2014
Current assets: Receivables, less allowances of $270 in 2015 and
$297 in 2014 $ 5,477 $ 5,913
In addition, the income statement reported sales revenue of $39,794 ($ in millions) for the current year. All sales are made on a credit basis. The statement of cash flows indicates that cash collected from customers during the current year was $40,737 ($ in millions). There were no recoveries of accounts receivable previously written off.
Required:
1. Compute the following ($ in millions):
The net amount of bad debts written off or reinstated by EMC during 2015.
The amount of bad debt expense or reduction of bad debt expense that EMC included in its income statement for 2015.
2. Suppose that EMC had used the direct write-off method to account for bad debts. Compute the following ($ in millions):
The accounts receivable information that would be included in the 2015 year-end balance sheet.
The amount of bad debt expense or reduction of bad debt expense that EMC included in its income statement for 2015.
1. To compute the net amount of bad debts written off or reinstated by TLC Inc. (not EMC), we need to subtract the balance of allowances for doubtful accounts in 2015 from the balance in 2014.
Net amount of bad debts written off or reinstated = Allowance for doubtful accounts in 2014 - Allowance for doubtful accounts in 2015
= $297 million - $270 million
= $27 million
The amount of bad debt expense or reduction of bad debt expense included in the income statement for 2015 can be calculated by comparing the balances of allowances for doubtful accounts in 2015 and 2014.
Bad debt expense or reduction of bad debt expense = Allowance for doubtful accounts in 2014 - Allowance for doubtful accounts in 2015
= $297 million - $270 million
= $27 million
2. If TLC Inc. had used the direct write-off method to account for bad debts, the accounts receivable information that would be included in the 2015 year-end balance sheet would be the full amount of receivables without any allowance for doubtful accounts. Therefore, it would be:
Accounts receivable in 2015 = $5,477 million
The amount of bad debt expense or reduction of bad debt expense included in the income statement for 2015, under the direct write-off method, would be zero. This is because bad debts are only recognized when they are actually written off as uncollectible, rather than being estimated and recognized as an expense.
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Gorleston Ltd is VAT registered and has provided the following information for the VAT period ended 31 March 2021, all excluding VAT. - Standard rated sales to customers amounted to £95,000. - Exempt sales to customers amounted to £25,000. - The company purchased a car for the new marketing director for E45.000 during the period. Its CO2 emissions are 130 g/km and 60% of the mileage use is personal. The company pay all running costs. - The company purchased a car for £25,000 which will be used to provide a shuttle service between the two main sites operated by the business during office hours five days a week. - Other standard rated purchases made by the company totalled £67,500. Included within that total were £750 of repairs to the marketing director's car, £650 of his petrol costs and £1,250 for entertaining clients. Gorleston Ltd has written off two outstanding invoices due from a customer that has recently gone into administration. The amounts written off in the receivables ledger were £4,800, dated 1 September
In the given scenario, Gorleston Ltd has provided the following information for the VAT period ended 31 March 2021, all excluding VAT.- Standard rated sales to customers amounted to £95,000.- Exempt sales to customers amounted to £25,000.
The company purchased a car for the new marketing director for E45.000 during the period. Its CO2 emissions are 130 g/km and 60% of the mileage use is personal. The company pays all running costs.- The company purchased a car for £25,000 which will be used to provide a shuttle service between the two main sites operated by the business during office hours five days a week.
Other standard rated purchases made by the company totaled £67,500. Included within that total were £750 of repairs to the marketing director's car, £650 of his petrol costs, and £1,250 for entertaining clients.- Gorleston Ltd has written off two outstanding invoices due from a customer that has recently gone into administration.
The entertainment expenses of £1,250 are recoverable since they are incurred in the course of business and are used for business purposes.
Total sales = Standard-rated sales + Exempt sales= £95,000 + £25,000= £120,000
Total VAT charged on sales = VAT on standard-rated sales= £19,000
Total VAT on purchases = VAT on standard-rated purchases + VAT
on a car purchase= £13,500 + £9,000 = £22,500VAT recoverable= Total VAT
charged on sales - Total VAT on purchases= £19,000 - £22,500= -£3,500
The value of the negative number indicates that the company paid more VAT than it collected. This VAT can be carried forward to the next quarter and offset against future VAT liabilities.
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Which of the following statements is false regarding the assignment of a gain or loss when an affiliate's debt instrument is acquired on the open market? Multiple Cholce: • Subsidiary net income is not affected by a gain on the debt transaction. • Subsidiary net income is not affected by a loss on the debt tansaction. • Parent Company net income is not afiected by a gain on the debt transaction. • Parent Company net income is not atrected by a loss on the debt transaction • Consolidated net income is not affected by a gain or loss on the debt transaction.
The false statement regarding the assignment of gain or loss when an affiliate's debt instrument is acquired on the open market is: Subsidiary net income is not affected by a gain on the debt transaction. The gain or loss on the affiliate's debt instrument is assigned to the parent company, who records it in its own net income statement.
Consolidated net income, as well as parent company net income, is affected by the gain or loss on the debt transaction. The subsidiary's net income is not impacted by a gain or loss on the debt transaction as they have already been paid their interest and principal payments.
Debt instruments of affiliates purchased on the open market are accounted for under the cost or equity method depending on the level of ownership of the parent company. The gain or loss arising from this type of transaction is assigned to the parent company and is included in its own net income statement.
The subsidiary’s net income statement is not affected by the parent company’s gain or loss on this transaction.
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George Company had the following data for the current year. What is the income from continuing operations for the year? A. $48,000 B. $80,000 C. $64,000 D. $71,000
Continuing operations refer to the sales of goods and services that will remain the same in the future. Here, we have to find the income from continuing operations for the year by using the given data.The income from continuing operations for the year is $69,000. Therefore, option D. $71,000 is incorrect. The correct option is C. $64,000 because it was the closest to our answer.
The first step to find the income from continuing operations for the year is to calculate the gross profit of the company, which is the difference between net sales and the cost of goods sold.
Gross profit = Net sales - Cost of goods sold= $400,000 - $240,000= $160,000
Now we have to add the operating expenses to the gross profit to find the income from operations.
Income from operations = Gross profit - Operating expenses= $160,000 - $80,000= $80,000
The next step is to subtract interest expense from the income from operations and add the interest revenue to it.
Operating income after interest = Income from operations - Interest expense + Interest revenue= $80,000 - $2,000 + $5,000= $83,000
Now, we need to subtract income tax expenses from the operating income after interest to find the income from continuing operations.
Income from continuing operations = Operating income after interest - Income tax expense= $83,000 - $14,000= $69,000
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What is Banco Santander’s internationalization
strategy?
Banco Santander is a global financial organization. The bank's presence in international markets is significant, with offices in 10 main markets.
In 1999, Banco Santander started its internationalization strategy. It has had a systematic plan to extend its reach outside of Spain's boundaries since the 1980s, however, the bank's transformation occurred in the 1990s.
It is critical to note that Santander's internationalization process can be traced back to a deliberate decision to make an acquisition in Brazil in 1982. Santander's move to purchase the Brazilian financial institution has influenced its global expansion, with the bank now present in ten other nations, including Portugal, Italy, Germany, Mexico, and the United States.
As of today, the bank has a global presence that spans over three dozen nations. which the bank accomplished by taking advantage of the economic circumstances and market conditions of foreign nations. Banco Santander's internationalization strategy can be traced back to its ability to acquire foreign financial institutions.
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If pizza used to be produced in a competitive price-searcher market, and now the pizza market becomes a monopoly, we would expect:
more pizza to be sold at higher prices.
less pizza to be sold at lower prices.
more pizza to be sold at the same price.
less pizza to be sold at the same price.
If pizza used to be produced in a competitive price-searcher market, and now the pizza market becomes a monopoly, we would expect less pizza to be sold at higher prices.
Here's why:Under competitive price-searcher market, there are several companies that manufacture similar products (in this case, pizza). Because there are several options for buyers, competition encourages companies to offer lower prices so that they can entice customers away from their competitors.
When pizza is produced in a competitive price-searcher market, consumers are able to choose between different types of pizza at different prices. This leads to a larger number of pizzas being sold at a lower price. When the pizza market becomes a monopoly, there is only one company that makes pizza.
As a result, this company has significant market power and is able to charge a higher price than they would be able to charge under a competitive price-searcher market. Because there are no other options for consumers, the company can charge higher prices and still sell a significant amount of pizza.
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Which of the following illustrates the post hoc ergo propter hoc fallacy? The sun rose after the rooster crowed, so the rooster crowing must have caused the sunrise Barbara likes chocolate, so all women must like chocolate Big Mining Company believes all of its costs are sunk costs Carol only buys cheese when it's on sale at a discount price
The post hoc ergo propter hoc fallacy states that if one event occurs after another event, it must be caused by it.
Thus, the statement that illustrates the post hoc ergo propter hoc fallacy is "The sun rose after the rooster crowed, so the rooster crowing must have caused the sunrise."Post hoc ergo propter hoc is a type of causal fallacy, where one event is assumed to have caused another event just because it happened after it.
The fallacy is evident in the first statement, which implies that the sunrise is due to the rooster crowing.
Therefore, the statement illustrates the post hoc ergo propter hoc fallacy. Barbara likes chocolate, so all women must like chocolate, is an example of the fallacy of hasty generalization. The argument draws a conclusion about all women based on a single case. This is an invalid argument.
Big Mining Company believes all of its costs are sunk costs, is an example of a circular argument. The company is assuming that all costs are sunk costs without any supporting evidence. It is a flawed argument since it assumes what it is trying to prove.
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