Add increase in accounts payable and Subtract increase in inventory would be adjusted to net income when computing cash flows from operating activities, using the indirect method.
Certain adjustments are made to net income when calculating cash flows from operating activities using the indirect method. Particularly, the increase in inventory is deducted from net income while the increase in accounts payable is added back. This adjustment takes into account that the rise in accounts payable reflects a sum owed to suppliers which has no impact on operating activity cash flows.
On the other hand, the increase in inventory represents the cash outlay related to buying more inventory and is deducted from net income as a result. These adjustments make it possible to calculate the cash flows produced or used by an organization's operating activities with greater accuracy, giving important information about the organization's financial stability and liquidity.
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The complete question is- which of the following items would be adjusted to net income when computing cash flows from operating activities, using the indirect method? (check all that apply.)
Cash paid to purchase investments in securities
Cash paid to purchase plant assets
Add increase in accounts payable
Subtract increase in inventory
he full-disclosure principle requires financial statements to provide all _______ _______ information regarding the company
The full-disclosure principle requires financial statements to provide all relevant financial information regarding the company in a clear and concise manner. The principle is one of the major accounting principles that must be followed when preparing financial statements.
The principle is intended to ensure that financial statements provide users with all the information necessary to make informed decisions about the company's financial position and performance. It requires companies to disclose information about their accounting policies, significant transactions, and any other financial information that could affect their financial position or performance. The principle also requires companies to disclose any contingencies or uncertainties that could impact their financial statements. By following the full-disclosure principle, companies can provide their stakeholders with transparent and accurate financial information, which is essential for making informed decisions about the company.
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left justified schedule
The term "left justified schedule" refers to a type of formatting in which all the text or numbers in a schedule are aligned to the left side of the page or column.
This means that each entry in the schedule starts at the same position on the left side, creating a straight left margin. To better understand this concept, let's consider an example. Imagine you have a daily schedule with various tasks listed for each hour. In a left justified schedule, the start time of each task would be aligned to the left, and the descriptions or details of each task would follow in a straight line. For instance, a left justified schedule may look like this:
In this example, you can see that the start times of each task are aligned to the left, creating a left margin. This formatting makes it easier to read and understand the schedule, as it provides a consistent structure. In summary, a left justified schedule is a formatting style where all entries in a schedule are aligned to the left, creating a straight left margin. This formatting enhances readability and consistency in presenting information.
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But do all entrepreneurs agree on what motivates them? A July 17, 2017 survey on the hearpreneur blog site asked 23 different entrepreneurs what motivated them. Seven of the 23 referred to some sense of purpose in what they were doing as a motivating factor, with one response stressing the importance of discovering one's "personal why." Of the remaining entrepreneurs, answers varied from keeping a positive attitude (three responses) and finding external sources (three responses) to meditation and prayer (two responses). One entrepreneur said his greatest motivator was fear: the fear of being in the same place financially one year in the future "causes me to take action and also alleviates my fear of risk" (Hear from Entreprencurs 2017 n.p.). Only one of the 23 actually cited money and material success as a motivating factor to keep working. However, it is described, entrepreneurs seem to agree that passion and determination are key factors that carry them through the grind of the day-to-day. Questions: 1. In the article from 'Hear from Entreprencurs', one respondent called motivation "garbage"? Woule you agree or disagree, and why?
In the article from 'Hear from Entrepreneurs', no respondent called motivation "garbage." Therefore, the answer is that the respondent did not call motivation "garbage."
What did it say?The survey conducted on July 17, 2017, asked 23 entrepreneurs what motivated them. Seven of the 23 referred to some sense of purpose in what they were doing as a motivating factor, with one response stressing the importance of discovering one's "personal why."
Of the remaining entrepreneurs, answers varied from keeping a positive attitude (three responses) and finding external sources (three responses) to meditation and prayer (two responses).
One entrepreneur said his greatest motivator was fear: the fear of being in the same place financially one year in the future "causes me to take action and also alleviates my fear of risk".
Only one of the 23 actually cited money and material success as a motivating factor to keep working.
Entrepreneurs seem to agree that passion and determination are key factors that carry them through the grind of the day-to-day.
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Prior to liquidating their partnership, Ken and Andy had capital accounts of $60,000 and $102,000, respectively. Prior to liquidation, the partnership had no other cash assets than what was realized from the sale of assets. These assets were sold for $218,000. The partnership had $22,000 of liabilities. Ken and Andy share income and losses equally. Determine the amount received by Andy as a final distribution from the liquidation of the partnership.
Andy would receive $124,444.44 as a final distribution from the liquidation of the partnership.
To determine the amount received by Andy as a final distribution from the liquidation of the partnership, we need to calculate the total partnership capital, allocate the partnership's assets and liabilities, and distribute the remaining cash.
Total partnership capital:
Ken's capital account = $60,000
Andy's capital account = $102,000
Total capital = Ken's capital + Andy's capital = $60,000 + $102,000 = $162,000
Allocation of assets and liabilities:
Sale of assets = $218,000
Liabilities = $22,000
Remaining cash after settling liabilities:
Remaining cash = Sale of assets - Liabilities = $218,000 - $22,000 = $196,000
Distribution of remaining cash:
Since Ken and Andy share income and losses equally, they will each receive an equal portion of the remaining cash.
Amount received by Andy:
Andy's share = Remaining cash / Total partners' capital * Andy's capital account
= $196,000 / $162,000 * $102,000
= $124,444.44
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Which of the following topics is a macroeconomic subject? the advertising strategy of a particular automobile firm the unemployment rate of the United States economy as a whole a proposed merger between two companies the level of Christmas sales at a particular department store
Macroeconomics is a branch of economics that looks at the behavior and performance of the entire economy, rather than specific industries or companies. Macroeconomic subjects cover broad themes such as inflation, GDP, and unemployment.
Unemployment rate of the United States economy as a whole is a macroeconomic subject that is used to measure the labor market of the country.In economics, macroeconomics is a branch of economics that deals with the economy as a whole, rather than just specific markets. Macroeconomics covers broad topics such as economic growth, inflation, GDP, and unemployment. These themes are more abstract and broad-based than microeconomics, which is more focused on individual markets, products, or industries.
The unemployment rate of the United States economy as a whole is a macroeconomic subject that is used to measure the labor market of the country. It is calculated by dividing the number of unemployed persons by the total number of people in the labor force. This measure is an important indicator of the health of the overall economy. If unemployment rates are high, it is a sign that there is slack in the labor market, which can depress wages and limit economic growth. Therefore, macroeconomic subjects such as unemployment rates are important indicators for economists, policymakers, and business leaders.
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ICE Drilling Inc.'s balance sheet information and income statement are as follows:
Additional information regarding ICE Drilling's activities during 2020: 1. Loss on sale of equipment is \( \$ 10,680
ICE Drilling Inc. will incur an extra $10,680 loss on the sale of equipment in 2020, according to the information given. This loss would be recorded as a cost on the income statement, lowering the company's annual net income.
It shows that ICE Drilling sold equipment for less than its fair market value or purchase price. The company's profitability is impacted and its annual net income is decreased as a result of the loss on the sale of equipment. This loss is categorised as an operating expense and is often reported in the income statement's "Other Expenses" or "Other Income and Expenses" section. It is significant to note that without additional information regarding the company's earnings, expenses, and A thorough examination of ICE Drilling Inc.'s financial performance is not possible due to other costs. The loss on the sale of equipment is just one factor that affects the company's net income; other financial data should also be considered when determining the company's overall financial health.
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Explain the importance and mechanism of Securities Legislation.
Explain the nature of intellectual property and how to protect the intellectual assets of an organization.
Securities Legislation refers to a series of laws and regulations that govern the issuance and trade of securities. These regulations are important as they ensure that investors are provided with accurate and complete information about securities offerings and that issuers adhere to certain ethical and financial standards.
The mechanism of Securities Legislation involves registration requirements for securities issuers, disclosure requirements, and rules for market participants such as brokers and dealers. This mechanism also includes sanctions for those who violate the regulations to ensure that investors are protected.
Intellectual property refers to a legal concept that grants exclusive rights to the creators of original works. These works can include inventions, literary and artistic works, designs, and symbols. The nature of intellectual property is intangible, meaning that it is not a physical object, but rather an idea or creation.
Protecting intellectual assets is crucial for organizations as it allows them to maintain a competitive advantage in the market. To protect intellectual property, organizations can use various legal instruments such as patents, copyrights, trademarks, and trade secrets. These instruments help to prevent others from using, copying, or exploiting the organization's intellectual assets without permission or compensation.
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Product Cost Concept of Product Pricing Mademoiselle Company produces women's handbags. The cost of producing 1,280 handbags is as follows: The selling and administrative expenses are $28,700. The management desires a pronit equal to 18% of invested assets of $496, If required, round your answers to nearest whole number. a. Determine the amount of desired pronit from the production and sale of 1,280 handbags. b. Determine the product cost. per unit ror the production of 1,280 handbags. per unit? c. Determine the product cost markup percentage for handbags. d. - Determine the seling price of handbags. Round your answers to nearest whole value. \&
The desired profit from the production and sale of 1,280 handbags is $2,755.
Mademoiselle Company produces women's handbags and wants to determine various aspects of product pricing based on their production costs. Firstly, the desired profit from the production and sale of 1,280 handbags needs to be calculated.
To do this, the management desires a profit equal to 18% of the invested assets, which amounts to $496. The desired profit can be calculated by multiplying the invested assets by the desired profit percentage: $496 = 18% * $2,755 (496 ÷ 0.18 = 2,755). Therefore, the desired profit from the production and sale of 1,280 handbags is $2,755.
Next, the product cost per unit needs to be determined for the production of 1,280 handbags. The product cost includes the cost of producing the handbags and the selling and administrative expenses. Since the cost of producing 1,280 handbags is not provided, it cannot be directly calculated.
However, we know that the selling and administrative expenses are $28,700. To determine the product cost per unit, the total selling and administrative expenses need to be divided by the number of handbags produced: $28,700 ÷ 1,280 = $22.42 (rounded to the nearest whole number). Therefore, the product cost per unit for the production of 1,280 handbags is approximately $22.
To determine the product cost markup percentage for the handbags, the desired profit and the product cost per unit need to be considered. The product cost markup percentage is calculated by dividing the desired profit by the product cost per unit and multiplying by 100: ($2,755 ÷ $22) * 100 ≈ 12500%. Therefore, the product cost markup percentage for the handbags is approximately 12,500%.
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In Mademoiselle Company ,the desired profit from the production and sale of 1,280 handbags is $2,755.
Mademoiselle Company produces women's handbags and wants to determine various aspects of product pricing based on their production costs. Firstly, the desired profit from the production and sale of 1,280 handbags needs to be calculated.
To do this, the management desires a profit equal to 18% of the invested assets, which amounts to $496. The desired profit can be calculated by multiplying the invested assets by the desired profit percentage: $496 = 18% * $2,755 (496 ÷ 0.18 = 2,755). Therefore, the desired profit from the production and sale of 1,280 handbags is $2,755.
Next, the product cost per unit needs to be determined for the production of 1,280 handbags. The product cost includes the cost of producing the handbags and the selling and administrative expenses. Since the cost of producing 1,280 handbags is not provided, it cannot be directly calculated.
However, we know that the selling and administrative expenses are $28,700. To determine the product cost per unit, the total selling and administrative expenses need to be divided by the number of handbags produced: $28,700 ÷ 1,280 = $22.42 (rounded to the nearest whole number). Therefore, the product cost per unit for the production of 1,280 handbags is approximately $22.
To determine the product cost markup percentage for the handbags, the desired profit and the product cost per unit need to be considered. The product cost markup percentage is calculated by dividing the desired profit by the product cost per unit and multiplying by 100: ($2,755 ÷ $22) * 100 ≈ 12500%. Therefore, the product cost markup percentage for the handbags is approximately 12,500%.
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etup an amortization schedule for a $210,000 loan, to be repaid in 6 years with annual payments at an interest rate of 12%, compounded annually. n=?? company agrees to make quarterly payments for 9 years at 10% per year. Find the amount of the quarterly payment.
In the given case,We have a loan of $210,000 to be repaid in 6 years with an annual payment. .Therefore, the amount of quarterly payment is $6,027.88.
Set up an amortization schedule for a $210,000 loan, to be repaid in 6 years with annual payments at an interest rate of 12%, compounded annually. n=?? company agrees to make quarterly payments for 9 years at 10% per year. Find the amount of the quarterly payment.
In the given case,We have a loan of $210,000 to be repaid in 6 years with an annual payment.
So the interest rate is 12%.The payment will be made in annual installments.
Let's find out the payment amount for the annual installment on the given loan using the formula below:
A = [P (r(1+r)^n) / (1+r)^n-1]
Where,A= Payment amount
P= Loan amount
r= interest rate per period
n= number of payments
So, substituting the given values, we get
A = [$210,000 (0.12(1+0.12)^6) / (1+0.12)^6-1]= $46,201.91 (approx.)
Therefore, the annual payment amount is $46,201.91
We can construct an amortization schedule for the first two years, using the formula below:Principal Paid = Payment - Interest Paid
Beginning Balance = $210,000 (initial loan amount)Interest Paid = Beginning Balance x Interest Rate
Principal Paid = Payment - Interest Paid
Ending Balance = Beginning Balance - Principal PaidYears
Beginning Balance
PaymentInterest Paid
Principal Paid
Ending Balance1120,00046,201.9125,20020,001195,1989220,00146,201.9111,83134,371160,827
To find the quarterly payments, we can use the following formula:
PMT = (r(PV))/(1-(1+r)^-n)
Where,PMT = quarterly payment amount
r = interest rate per period
n = number of payments
PV = present value of loan amount= $210,000
We are given that the company agrees to make quarterly payments for 9 years at 10% per year.
So, substituting the values, we get
r = 10/4 = 2.5%
n = 9 x 4
= 36PMT
= (0.025($210,000))/(1-(1+0.025)^-36)= $6,027.88 (approx.)
Therefore, the amount of quarterly payment is $6,027.88.
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Pyper Inc. has a December 31 year end. It is a Canadian controlled private corporation. The following information relates to its 2021 taxation year: 1. At the beginning of 2021, both the company's Eligible RDTOH and the company's GRIP had balances of nil. Also on this date, balance in its Non-Eligible RDTOH was $12,000. 2. A few years ago Pyper Inc. purchased 70 percent of the outstanding shares of Style Ltd. On November 1, 2021, Style Ltd. paid a non-eligible dividend of $50,000. Droid Inc. collected $35,000 (70 percent) of this dividend. As a result of paying the $50,000 dividend, Style Ltd. collected a dividend refund of $8,000. 3. Other income that was reported by Pyper Inc. consisted of the following amounts: Interest $2,000 Capital Gain (Sale Of Land) 30,000 Eligible Dividends From Canadian Public Companies 7,000 The interest is on deposits of temporary cash balances set aside for the purchase of inventories. 4. The company's Taxable Income for the year ending December 31, 2021, was $90,000. No foreign income was included in this total. Assume the Part I Tax Payable for the year ending December 31, 2021, was correctly calculated as $25,000. Because of its association with Style Ltd., Droid's share of the annual business limit on income eligible for the small business deduction is $40,000. Droid's active business income is greater than its share of the annual business limit. 5. Droid Inc. paid taxable dividends of $20,000 during the year. It is the policy of the corporation to designate dividends as eligible only to the extent that a dividend refund will be available on their payment. Required: A. Determine the refundable portion of Pyper's Part I Tax Payable for 2021. B. Determine Pyper's Part IV Tax Payable for 2021. C. Determine the December 31, 2021, balances in Pyper's Eligible RDTOH and its Non-Eligible RDTOH. D. Determine Pyper's 2021 dividend refund, providing separate amounts for refunds on eligible dividends and refunds on non-eligible dividends. IMPORTANT - Please show all calculations to gain full marks.
Pyper's refundable Part I tax payable for 2021 is $18,000. Calculation: Part I tax payable for the year ($25,000) x (the lesser of (0.3) or (Droid's active business income ($90,000) - Droid's share of the annual business limit ($40,000)) / Droid's active business income ($90,000)) = $18,000.
Pyper's Part IV tax payable for 2021 is $8,750. Calculation: Non-eligible dividend received ($12,000) x (refund rate of 38.33%) = $4,600 + (Droid's share of the Style Ltd. dividend received ($35,000 x 70%) x refund rate of 33 1/3%) = $4,150, for a total of $8,750.C. Pyper's December 31, 2021, Eligible RDTOH balance is $2,380. Calculation: GRIP balance at beginning of the year (nil) + Eligible dividends received during the year ($7,000) - Eligible dividends paid during the year (nil) - Part IV tax on eligible dividends ($0) = $7,000.
As Part IV tax on non-eligible dividends has already been calculated, all non-eligible dividends are considered to be paid out of the Non-Eligible RDTOH. Therefore, Pyper's December 31, 2021, Non-Eligible RDTOH balance is $6,770. Calculation: Non-eligible dividend received during the year ($12,000) - Part IV tax on non-eligible dividend ($4,150) = $7,850.D. Pyper's 2021 dividend refund is $6,080.
Calculation: Eligible dividends received during the year ($7,000) x refund rate of 38.33% = $2,678.50 + Non-eligible dividends received during the year ($12,000) x refund rate of 33 1/3% = $4,401, for a total refund of $6,080. The refund is allocated $2,678.50 to eligible dividends and $3,401.50 to non-eligible dividends.
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True or false: The matrix organization is the result of domestic companies hoping to join forces in order to gain power in the international market.
The statement is false. The matrix organization is not the result of domestic companies hoping to join forces in order to gain power in the international market.
In fact, the matrix organization was first developed in the United States aerospace industry in the 1950s. It was designed to help companies manage complex projects that involved multiple teams and disciplines. The matrix organization is a type of organizational structure that combines functional and project-based structures. In a matrix organization, employees report to both a functional manager and a project manager. This allows companies to benefit from the strengths of both functional and project-based structures. Functional structures are good for providing employees with specialized training and expertise. Project-based structures are good for coordinating the work of different teams and disciplines on complex projects. The matrix organization combines these two strengths, allowing companies to be both efficient and effective.
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QS 5-16 Gross profit ratio LO6 Willaby Company had net sales of $248,000 and cost of goods sold of $114,080. Calculate and interpret the gross profit ratio, assuming the gross profit ratio for the industry is an average of 53%.
Gross profit ratioGross Profit Ratio can be defined as the ratio of gross profit to net sales which indicates the percentage of each sales dollar that is retained as gross profit. The formula for gross profit ratio is given by:Gross Profit Ratio = Gross Profit / Net Sales × 100QS 5-16 Gross profit ratio LO6 Willaby Company had net sales of $248,000 and cost of goods sold of $114,080.
Calculate and interpret the gross profit ratio, assuming the gross profit ratio for the industry is an average of 53%.Given,Net sales = $248,000Cost of goods sold = $114,080Gross profit = Net sales - Cost of goods sold= $248,000 - $114,080= $133,920The gross profit ratio is calculated by using the formula Gross Profit Ratio = Gross Profit / Net Sales × 100= $133,920 / $248,000 × 100= 54% Interpretation.
The gross profit ratio of Willaby Company is 54% which is more than the average industry gross profit ratio of 53%. This indicates that the company has been able to efficiently manage its direct costs and earn a good gross profit as compared to its sales. It is considered to be a good indicator of profitability and efficiency of a business.
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False Question 2 ✓ Saved On June 1, ACME Incorporated borrows $75,000 on a six-month, 4% note. Interest and principal are to be paid at maturity. Adjusting entries are prepared annually on the June 30 year end. Required: 1. Prepare the journal entry on issuance date. 2. Prepare the year end adjusting journal entry. (1.5 marks) 3. Prepare the journal entry at maturity date. (3.5 marks)
False Question 2There is no question provided in the prompt. It is only a statement that mentions a scenario involving financial transactions.
The statement discusses the borrowing of $75,000 by ACME Incorporated on a six-month, 4% note. Interest and principal are to be paid at maturity, and adjusting entries are prepared annually on the June 30 year-end.
Since there is no question asked, it is not possible to provide an answer that includes the terms "MORE THAN 100 WORDS".
However, here is some general information on the terms mentioned in the prompt to help you better understand them:Six-month note: A six-month note is a financial instrument that matures after six months of its issue date. The borrower agrees to repay the principal amount with interest at the end of six months.4% note: The 4% note refers to the interest rate that is payable on the six-month note.
The interest is calculated at a rate of 4% per annum, and it is paid when the note matures.
Adjusting entries: Adjusting entries are journal entries made to update the accounting records at the end of the accounting period. Adjusting entries can be related to accruals, deferrals, and estimates.
Maturity date: The maturity date is the date on which the principal amount of a debt instrument is due to be paid. In the case of a six-month note, the maturity date is six months from the date of issuance. At maturity, the borrower must pay the principal amount along with the interest due.
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Knowledge management Imagine you have assigned in knowledge
champion in a company, how and where will you establish a knowledge
management strategy, and how?
As a knowledge champion in a company, here's how and where I will establish a knowledge management strategy
The first thing that I would do is define the company's knowledge management strategy's goals and objectives. This will be based on the company's mission and vision statements.
For instance, the goal could be to ensure that all employees have access to the latest knowledge that's relevant to their roles. Or, the goal could be to improve the company's ability to innovate.
Secondly, I would assess the company's current knowledge management strategy. This will help me to identify the gaps and opportunities for improvement.
I will then identify the key stakeholders who will be involved in the knowledge management strategy development and implementation process.
The next step will be to establish a framework for the knowledge management strategy. This will involve defining the key components of the strategy, such as the knowledge management system, processes, and tools.
I would also define the roles and responsibilities of the various stakeholders and how they will work together to achieve the strategy's goals and objectives.
Once the framework is in place, I would develop a plan for implementing the knowledge management strategy. This plan would include a timeline, milestones, and metrics for evaluating the strategy's success.
It would also identify the resources required to implement the strategy, such as training, technology, and staffing.
Finally, I would establish a process for monitoring and evaluating the knowledge management strategy's effectiveness. This would involve regular feedback from stakeholders, metrics analysis, and benchmarking against industry standards and best practices.
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SUBJECT: BUSINESS LAW
A person dies without leaving a will. The administrator of the estate refuses to pay the deceased’s debts on the grounds that there is no written evidence of the obligation. Comment on the ethics of this situation.
In a situation where a person dies without leaving a will and the administrator of the estate refuses to pay the deceased’s debts on the grounds that there is no written evidence of the obligation, it raises ethical issues.
The reason is that the administrator has a moral and legal obligation to pay the deceased’s debts even in the absence of a written document.
In a situation like this, the administrator's first ethical obligation is to ensure that the debts are paid as required.
It's their responsibility to ensure that all the deceased’s creditors are paid and their obligations are met.
This ethical obligation is based on the principle of personal responsibility.
When a person dies, the responsibility to pay their debts is transferred to their estate.
the administrator has a moral and legal obligation to ensure that the debts are paid to avoid legal problems in the future.
The administrator must also be transparent and honest in their dealings.
They should not hide or try to evade the deceased’s obligations to the creditors.
This ethical obligation is based on the principle of integrity.
When an administrator is open and honest in their dealings, they create trust and credibility among the creditors, beneficiaries, and other stakeholders.
In conclusion, it's ethically wrong for the administrator of an estate to refuse to pay the deceased’s debts on the grounds that there is no written evidence of the obligation.
It's their moral and legal obligation to ensure that the debts are paid, and they should do so transparently and honestly.
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Why do many advertisers believe that the multimillion-dollar
costs of advertising during the Super Bowl make good economic
sense?
Many advertisers believe that the multimillion-dollar costs of advertising during the Super Bowl make good economic sense. This is because the Super Bowl is one of the most-watched TV events globally, with a massive viewership. In the US alone, around 100 million people watch the Super Bowl every year.
This makes it an excellent opportunity for advertisers to promote their products to a massive audience. To many advertisers, the Super Bowl provides an ideal platform for them to showcase their products or services. In addition, the game is usually aired live on many TV networks globally, making it a perfect avenue for advertisers to reach out to their target audiences. Since it is a live event, advertisers can quickly adapt their ads to suit the mood and tone of the game, increasing the effectiveness of their marketing campaigns.
In addition, the Super Bowl is known for its high-quality commercials, with brands investing millions of dollars to create ads that are both entertaining and memorable. These ads are usually talked about for weeks after the game, making it an ideal opportunity for brands to establish themselves as thought leaders in their industry. To sum up, advertisers believe that the multimillion-dollar costs of advertising during the Super Bowl make good economic sense due to the massive viewership and the opportunity to promote their products to a massive audience.
Additionally, the high-quality commercials and the ability to create memorable ads make it an excellent opportunity for brands to establish themselves as thought leaders in their industry.
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Read the case below and answer the questions that follow.
Lou Livingston opened his first laundromat ten years ago, and opened a second laundromat 2 years later. The main attraction of these coin laundry businesses for him was that they were capital— rather than labor— intensive. Thus, once the investment in machinery was made, the stores could he run with just one unskilled attendant and none of the labor problems one normally expects from being in the retail service business.
Five years ago, Lou decided to expand the services in each of his stores to include the dry cleaning and pressing of clothes. He added these in part because he wanted to better utilize the unused space in the rather large stores he currently had, and partly because he was, as he put it, "tired of sending out the dry cleaning and pressing work that came in from our coin laundry clients to a dry cleaner five miles away, who then took most of what should have been our profits." After a year or so, he was sufficiently satisfied with his stores’ performance to open four more of the same type of stores.
Each of Lou’s 6 stores now has its own on-site manager and, on average, about seven employees. Annual revenues for each store are about $500,000. Up until recently, Lou oversaw all operations across the stores. While this was an easily manageable task with just two laundromats, he is now finding it challenging to keep up with the increased demands associated with ensuring the success of all 6 stores, and the fact that he now needs to attract and retain qualified employees for each.
Lou has approached you to serve as a troubleshooter/consultant to help him identify human resource management concepts and techniques for solving the company’s problems and facilitating its future growth.
1. Lou knows he has many HR-related issues he will need to address. What is the FIRST thing Lou needs to do to ensure his efforts will succeed?
a) hire an HR consultant to develop policies and procedures for his company.
b) ensure he has a clear understanding of the company's strategy so that he can design HR practices that support company goals.
c) develop a comprehensive plan for attracting, recruiting, and hiring new employees.
d) develop an employee handbook to be used across his 6 stores.
2. When it comes to developing HR practices for his store, Lou will need to consider all of the following EXCEPT
a) developing a marketing plan to attract new customers
b) determining if his pay/benefits strategy is consistent with that of his competitors
c) developing a strategy to find and attract potential candidates
d) outlining clear responsibilities and expectations for employee performance
3. Now that the company has expanded and added new jobs (e.g., managers, cleaners, and pressers), Lou will need to clearly define the tasks and responsibilities of these key jobs and how the work will be performed. Which HR practice does this reflect?
a) job analysis and design
b) performance management
c) recruiting and selection
d) labor law compliance
4. Lou believes strongly in the value of promoting entry-level employees into a management position. In order to do this, he will need to help prepare these individuals for a leadership role. Which HR practice does this reflect?
a) performance management
b) recruiting and hiring
c) employee development
d) benefits administration
5. One of Lou's biggest challenges will be finding potential employees and encouraging them to apply for positions in his laundromats. Which HR function does this reflect?
a) selection
b) recruiting
c) employee relations
d) job analysis
6. Now that Lou has expanded his operations to include dry cleaning services (which involves the use of potentially dangerous chemicals), he needs to ensure that each of his laundromats follows consistent standards to protect employee health and safety. Which HR function does this reflect?
a) workforce analytics
b) labor law compliance
c) performance management
d) training and development
The selection process is one of the primary steps of the hiring process. This process involves analyzing the applicants' applications, resumes, and interview results and determining which ones are best suited for the job.
This process is critical for any business since it determines which candidates to hire and which ones to reject. A company should carefully consider the requirements and skills for a job, as well as the applicant's qualifications and experiences, when making the final decision.The training and development of employees are two essential aspects of any business, regardless of its size. New employees must be trained and provided with the necessary tools and knowledge to carry out their job duties effectively. This is critical to ensure that they are knowledgeable about the company's culture, procedures, and policies.
A company that prioritizes employee training and development can help its employees feel more motivated, valued, and empowered. They can also provide employees with opportunities for career advancement, which can help reduce employee turnover rates and improve employee retention in the long run. Investing in employee training and development can also lead to better job performance, higher productivity, and better quality products and services. In conclusion, a company that carefully selects employees based on qualifications and skills and invests in training and development can have a significant positive impact on employee morale, productivity, and company success.
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Rahul Company is a family-owned company located in the village of Gurgaon on the eastern side of the state. The company produces a handcrafted musical instrument called a gamelan that is like a xylophone. The gamelans are sold to a Canadian importer for $850. Selected data for the company’s operation last year follow:
Units in beginning inventory
0
Units produced
500
Units sold
450
Units in ending Inventory
50
Variable Costs per unit:
Direct Material
150
Direct labour
270
Variable manufacturing overhead
40
Variable selling & Administration
25
Fixed Costs:
Fixed manufacturing overhead
120,000
Fixed selling & Administration
40,000
Assume that the company uses absorption costing. Compute the unit product cost for one gamelan
Assume that the company uses variable costing. Compute the unit product cost for one gamelan
Absorption costing unit cost: $725. Variable costing unit cost: $485.
The unit product cost for one gamelan is calculated using absorption costing by taking into account both variable and fixed production expenses. Direct material ($150), direct labor ($270), variable manufacturing overhead ($40), and variable selling & administration ($25) make up the $485 in variable costs per unit. The fixed expenses, which include set selling and administrative expenses ($40,000) and fixed manufacturing overhead ($120,000), are distributed across the entire number of units produced (500). ($120,000 divided by 500) represents the fixed production overhead per unit, which is $240. Therefore, $725 ($485 + $240) is the unit product cost under absorption costing.
Variable costing, in contrast, simply takes into account the variable costs per unit. Since direct material, direct labor, variable manufacturing overhead, and variable selling costs are all included, the unit product cost for one gamelan under variable costing is $485.
To summarize:
Absorption costing unit product cost: $725
Variable costing unit product cost: $485
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A business entity is an individual, association, or organization with control over economic resources and which engages in economic activities.
A business entity is an individual, association, or organization with control over economic resources and which engages in economic activities.
Business entities are entities that exist for the purpose of conducting commercial or economic activities. They can take various legal forms, such as sole proprietorships, partnerships, corporations, or limited liability companies (LLCs). These entities are separate and distinct from their owners or members and are recognized as legal entities capable of entering into contracts, owning assets, and incurring liabilities.
Business entities have control over economic resources, which can include tangible assets like property, inventory, and equipment, as well as intangible assets like intellectual property, trademarks, and goodwill. They utilize these resources to produce goods or provide services with the aim of generating revenue and making profits.
Engaging in economic activities involves the buying, selling, production, or distribution of goods and services. Business entities participate in markets and interact with customers, suppliers, competitors, and other stakeholders to carry out their economic activities. They may also employ individuals, enter into partnerships or joint ventures, raise capital through investments or loans, and make strategic decisions to achieve their financial objectives.
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When you're preparing a formal work plan, include a ________ to clarify the problem you
face and a ________ to describe what you plan to accomplish.
A) statistical analysis; hypothesis
B) problem statement; purpose statement
C) yardstick; problem statement
D) descriptive standard; goal analysis
E) hypothesis; work plan
When preparing a formal work plan, include a problem statement to clarify the problem you face and a purpose statement to describe what you plan to accomplish.
B) problem statement; purpose statement
When preparing a formal work plan, it is important to include a problem statement to clarify the problem or challenge you are facing. This statement helps to define the issue at hand and provides a clear understanding of what needs to be addressed.
Additionally, a purpose statement should be included in the work plan to describe what you plan to accomplish. This statement outlines the goals, objectives, or desired outcomes of the project or task.
Therefore, option B) problem statement; purpose statement is the appropriate choice as it accurately describes the components needed in a formal work plan.
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ABC pays a one time freecashflow of 104 in 1yr. The firm risk is related with a required return of 0.29. For what value could you sell the firm's unlevered equity for today?
The free cash flow is the measure of a firm's financial performance that represents the cash a company produces after accounting for capital expenditures needed to maintain or expand its asset base. It is the cash left over after the firm has met all of its short- and long-term obligations. The formula for free cash flow is:
Free Cash Flow = Operating Cash Flow - Capital Expenditures
Given that the ABC firm paid a one-time free cash flow of 104 in one year and the firm's risk is related to a required return of 0.29. The unlevered equity value of the firm can be determined using the following formula:
Free Cash Flow / (Required Rate of Return - Growth Rate)
We can assume that the growth rate is zero in this case, so the formula becomes:
Unlevered Equity Value = Free Cash Flow / Required Rate of Return
Substituting the values given in the question:
Unlevered Equity Value = 104 / 0.29 = 358.62
The value at which the firm's unlevered equity can be sold for today is 358.62.
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The SteelCo company manufactures steel rods. The specification limits on the lengths of these rods are from 95.6 inches to 95.7 inches. The process that produces these rods currently yields lengths that are normally distributed with mean 95.66 inches and standard deviation 0.025 inch.
a. What is the probability that a single rod will be within specification limits? Round your answer to three decimal places, if necessary.
b. What is the probability that at least 90 of 100 rods will be within specification limits? Round your answer to three decimal places, if necessary.
c. SteelCo's best customer currently buys 200 of these rods each day and pays the company $20 apiece. However, it gets a $40 refund for each rod that doesn't meet specifications. What is SteelCo's current expected profit per day? Round your answer to the nearest whole dollar, if necessary.
How small would its standard deviation need to be before it would net an expected $3,900 per day? Round your answer to three decimal places, if necessary.
The probability that a single rod will be within specification limits can be calculated by finding the area under the normal distribution curve between the limits of 95.6 inches and 95.7 inches.
Using the mean (μ = 95.66) and standard deviation (σ = 0.025), we can calculate the z-scores and use a standard normal distribution table or calculator to find the probability. The probability that at least 90 of 100 rods will be within specification limits can be calculated using the binomial distribution. We need to find the cumulative probability of having 90, 91, 92, ..., up to 100 rods within the limits. The probability of success (rod within limits) is the same as the probability calculated in part (a), and the number of trials is 100. To calculate SteelCo's current expected profit per day, we need to consider the number of rods that meet specifications and the number of rods that don't. We can calculate the expected profit per rod and multiply it by the total number of rods.
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A corner solution in the consumer's problem:
a. Is a consumption bundle that coincides with the "kink" of the indifference curve when preferences are of the perfect complement type
b. Is a consumption bundle that is chosen by the consumer but is not optimal
c. Can only occur when preferences are of the perfect substitutes type
d. Is a consumption bundles that is not optimal but gives a positive utility level
e. Is an optimal consumption bundles that specifies a positive amount for only one of the two goods
A corner solution in the consumer's problem is an optimal consumption bundle that specifies a positive amount for only one of the two goods. Option (e) is correct.
What is a corner solution in the consumer's problem?When a consumer selects a consumption bundle containing no positive quantity of one good and positive amounts of the other good, this is referred to as a corner solution.
This occurs because the indifference curve linking the two goods is "kinked" or discontinuous at the point where one of the goods is absent. These corner solutions are the result of the "binding" constraint which specifies the maximum amount that a consumer may spend on consumption of goods.A corner solution can be an optimal consumption bundle in some cases. When a consumer's preferences are such that they have perfect substitutes, a corner solution will be optimal. For instance, if the consumer enjoys both Good X and Good Y to the same extent, they will consume a positive amount of both goods (i.e., will not choose a corner solution).When the consumer dislikes Good X, they will consume only Good Y. When the consumer dislikes Good Y, they will consume only Good X.
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Take me to the text Sammy Chin, the owner of SC Limited, prepared the following 2019 direct labor budget: SC Limited Direct Labor Budget For the Year Ended June 30, 2019 Q1 Q2 03 Budgeted Direct Labor Hours 33,000 26,000 50,000 55,000 Direct Labor Cost per Direct Labor Hour $12 $17 $8 $10 Budgeted Direct Labor Costs $396,000 $442,000 $400,000 $550,000 24 For 2019, Sammy budgets $541,200 of manufacturing overhead. The budgeted manufacturing overhead cost is normally allocated based on the budgeted direct labor hours. Do not enter dollar signs or commas in the input boxes. Round all answers to 2 decimal places. Determine the amount of budgeted manufacturing overhead for each quarter. Q1 Q2 Q3 Q4 Total $ $ $ Budgeted Direct Labor Hours For 2019, Sammy budgets $541,200 of manufacturing overhead. The budgeted manufacturing overhead cost is normally allocated based on the budgeted direct labor hours. Do not enter dollar signs or commas in the input boxes, Round all answers to 2 decimal places. Determine the amount of budgeted manufacturing overhead for each quarter. Q1 Q2 Q3 Q4 Total $ $ $ Budgeted Direct Labor Hours $ $ A $ $ $ Predetermined Overhead Rate $ Budgeted Manufacturing Overhead Check
The budgeted direct labour hours and the $541,200 total manufacturing overhead cost are used to compute the budgeted manufacturing overhead for each quarter.
The manufacturing overhead rate for Q1 is $16.40 per hour, with 33,000 direct labour hours allocated in the budget. Therefore, $541,200 has been budgeted for manufacturing overhead for Q1. The manufacturing overhead rate for Q2 is $20.81 per hour, with 26,000 direct labour hours allocated in the budget. As a result, $540,060 has been budgeted for manufacturing overhead for the second quarter. The 50,000 direct labour hours allocated for Q3 translate into a manufacturing overhead rate of $10.82 per hour. For Q3, $541,000 has been budgeted for manufacturing overhead. Finally, 55,000 direct labour hours are allocated for Q4, which results in a manufacturing overhead cost of $9.84 per hour. As a result, the planned production expenses $541,200 is the total for Q4. The budgeted manufacturing overhead is as follows for each quarter: Q1: $541,200 Q2: $540,060 Q3: $541,000 Q4: $541,200 The $541,200 annual budgeted amount for manufacturing overhead remains unchanged.
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Consider the following three data mining (DM) tasks and indicate which style each task is involved with: (Explain answer)
Task 1. A product manager wants to design a few products to satisfy different groups of customers, but he does not know how many groups of customers the company has. He asks a data scientist for help. The data scientist randomly samples 10k customers from the customer database, then explores whether and how these customers form natural groups, and finally segments them into a few groups based their similarities in age, gender, shopping pattern, preference, and other variables.
Task 2. An insurance company wants to predict how much a new customer can pay for an insurance product. Using historical data, a data scientist develops a data mining model for this purpose based on the customer's age, location, education level, annual income, and marriage status.
Task 3. A grocery store wants to analyze what products are usually purchased together by its customers. Based on the result, the store wants to select a few products to run promotion on them to increase the overall sales.
Answer:
A. All three tasks are involved with unsupervised DM
B. Tasks 1 & 3 are involved with unsupervised DM, while Task 2 is involved with supervised DM.
C. Tasks 1 & 2 are involved with supervised DM, while Task 3 is involved with unsupervised DM.
D. Task 1 is involved with unsupervised DM, Task 2 is involved with supervised DM, Task 3 is involved in both supervised and unsupervised DM.
E. All three tasks are involved with supervised DM.
F. Tasks 2 & 3 are involved with supervised DM, while Task 1 is involved with unsupervised DM
Task 1 is involved with unsupervised DM, Task 2 is involved with supervised DM, and Task 3 is involved in both supervised and unsupervised DM. The correct answer is D.
Task 1: In this task, the data scientist is exploring whether and how customers form natural groups based on their similarities in various variables. This is an example of unsupervised data mining because there is no specific target variable or outcome that the data scientist is trying to predict. Instead, they are looking for patterns or clusters within the data.
Task 2: Here, the data scientist is developing a data mining model to predict how much a new customer can pay for an insurance product. This task involves supervised data mining because there is a specific target variable (the customer's payment amount) that the model is trained to predict. The historical data is used to train the model and establish the relationship between the input variables (age, location, education level, etc.) and the target variable.
Task 3: The goal of this task is to analyze the purchasing patterns of customers in a grocery store to identify products that are usually purchased together. This task involves both supervised and unsupervised data mining. The initial analysis to identify the products purchased together is an example of unsupervised data mining as there is no specific target variable. However, once the patterns are identified, the store wants to use this information to select products for promotions, which can be considered a supervised data mining task as the goal is to increase overall sales by targeting specific products.
Therefore, the correct answer is D. Task 1 is involved with unsupervised DM, Task 2 is involved with supervised DM, and Task 3 is involved in both supervised and unsupervised DM.
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John Dough owns 100 percent of the shares of Doughboy Ltd. His wife, Kneada Dough, owns 100 percent of the shares of Yeast Ltd. and 100 percent of the shares of Flour Inc. Which of the following statements is correct?
a) Doughboy and Yeast are associated. b) Flour and Yeast are associated. c) Doughboy and Flour are associated. d) Doughboy is associated with both Yeast and Flour.
John Dough owns 100 percent of the shares of Doughboy Ltd., and his wife Kneada Dough owns 100 percent of the shares of Yeast Ltd. and 100 percent of the shares of Flour Inc.
Based on this information, the following statement is correct:Doughboy and Yeast are associated.What does associated mean?The term associated company or associated companies refers to two or more companies in which one company holds significant ownership interest in another company.
The associated company is often a subsidiary or a fellow subsidiary. An associated company is distinct from a subsidiary company, which is a company in which the parent company owns a majority share of ownership.The association between Doughboy Ltd. and Yeast Ltd.:John Dough and his wife Kneada Dough each have 100 percent ownership of Doughboy and Yeast Ltd., respectively.
As a result, these two firms are considered linked. Doughboy Ltd. and Yeast Ltd. are affiliated since one business has significant ownership in the other. Thus, the correct answer is option A: Doughboy and Yeast are associated.
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to monitor the investments in a portfolio, which performance measure statement should not be included in the ips:
The performance measure statement that should not be included in the investment policy statement (IPS) when monitoring investments in a portfolio is the "Past Performance Guarantee."
The IPS is a document that outlines the investment objectives, strategies, and guidelines for managing a portfolio. It serves as a roadmap for investment decisions and provides a framework for evaluating the portfolio's performance. While the IPS may include various performance measures to assess the success of the portfolio, it is generally not appropriate to include a "Past Performance Guarantee" statement.Investment Policy Statement (IPS): An IPS is a document that outlines the investment objectives, strategies, and guidelines for managing a portfolio. It is typically developed by an investment advisor in consultation with the client. The IPS serves as a roadmap for investment decisions and provides a framework for evaluating the portfolio's performance.
Performance Measures in IPS: The IPS may include various performance measures to assess the success of the portfolio. These measures help investors evaluate the performance of their investments and make informed decisions. Some commonly used performance measures in an IPS include: Return on Investment (ROI): ROI measures the profitability of an investment by comparing the gain or loss from the investment relative to its cost. It helps investors determine how well their investments have performed over a specific period.Risk-adjusted Returns: This measure takes into account the level of risk associated with an investment. It considers the return generated by an investment relative to its risk level, providing a more accurate picture of performance.
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a. Net income was $473,000.
b. Issued common stock for $79,000 cash.
c. Paid cash dividend of $15,000.
d. Paid $125,000 cash to settle a note payable at its $125,000 maturity value.
e. Paid $116,000 cash to acquire its treasury stock.
f. Purchased equipment for $91,000 cash.
Use the above information to determine this company's cash flows from financing activities. (Amounts to be deducted should be indicated with a minus sign.)
The company had a positive cash flow from financing activities of $64,000.
To determine the cash flows from financing activities based on the given information, we need to identify the transactions that fall under financing activities and calculate their impact on cash flow.
The transactions that fall under financing activities are:
b. Issued common stock for $79,000 cash. (+$79,000)
c. Paid cash dividend of $15,000. (-$15,000)
The other transactions mentioned (a, d, e, f) do not directly fall under financing activities. Net income (a) represents an operating activity, while paying off a note payable (d), acquiring treasury stock (e), and purchasing equipment (f) are investing activities.
Therefore, the cash flows from financing activities for this company would be:Cash flows from financing activities = Issued common stock - Paid cash dividend
Cash flows from financing activities = $79,000 - $15,000
Cash flows from financing activities = $64,000
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which of the following would best summarize taylor’s four principles of scientific management.
Taylor's principles of scientific management involve scientific analysis of work processes, careful selection and training of employees, fostering a cooperative environment.
Taylor's four principles of scientific management can be summarized as follows: Scientifically study and analyze work: The first principle emphasizes the need to scientifically examine and analyze work processes to identify the most efficient methods. This involves breaking down tasks into smaller elements, studying each element, and determining the most effective ways to perform them. Select and train employees: The second principle focuses on selecting the right employees for specific tasks and training them to perform their work using the scientifically developed methods. Taylor believed that workers should be matched to their jobs based on their abilities and skills.
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Capital One Bank enters into a $10,000,000 quarterly-pay plain-vanilla interest rate swap as the fixed rate payer at a swap rate of 6% based on a 360-day year. The floating-rate payer, First Bank, agrees to make payments at 90-day LIBOR plus a 0.6% margin. 90-day LIBOR currently stands at 4%. LIBOR-90 rates are as follows: 90 days from today = 4.5% 180 days from today = 5.1% 270 days from today = 5.6% 360 days from today = 6.0% 1. Which of the following statements regarding the payments made at the inception of the swap is most accurate? A. Capital One Bank will pay First Bank $10 million. B. First Bank will pay Capital One Bank $10 million. C. No amount will be exchanged at the inception of the swap. 2. The floating rate used to determine the settlement payment 90 days from today is closest to: A. 4.5% B. 5.1% C. 4.6% 3. After 180 days, First Bank will most likely: A. Pay $7,500 B. Receive $37,500 C. Receive $22,500 4. After 270 days, Capital One Bank will most likely: A. Pay $7,500 B. Receive $22,500 C. Receive $5,000 5. After 360 days, First Bank will most likely: A. Pay $10,000 B. Pay $15,000 C. Pay $5,000
1. At the inception of the swap, no amount will be exchanged by either party. So, the most accurate statement regarding the payments made at the inception of the swap is "C. No amount will be exchanged at the inception of the swap".2.
The floating rate used to determine the settlement payment 90 days from today can be determined by adding 90 days from today with the date when the interest rate is given. Since 90 days from today has a rate of 4.5%, the floating rate used to determine the settlement payment 90 days from today is closest to "A. 4.5%".3.
= 4% + 0.6%
= 4.6%Since the floating rate (4.6%) is higher than the swap rate (6%), First Bank will have to pay Capital One Bank. Capital One Bank will receive $10,000,000 x (5.1% - 6%) x (90/360)
= $22,500 The calculation of the settlement payment to be made by First Bank after 360 days is as follows:360 days from today has a rate of 6%90-day LIBOR + margin
= 4% + 0.6%
= 4.6%Since the floating rate (6%) is equal to the swap rate (6%), there is no settlement payment to be made by either party.
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