Answer:
the answer is A)Since the subsidy increases both consumer surplus and producer surplus, subsidy does not create any deadweight loss.
Explanation:
The true statement is: d) The economic incidence of the tax depends on who must legally pay the tax.
Tax is a financial obligation imposed by the government on individuals and businesses to generate revenue for public services and programs. It is typically calculated as a percentage of income, profits, or the value of goods and services. Taxes can be levied at various levels, such as federal, state, and local. Common types of taxes include income tax, sales tax, property tax, and corporate tax. The funds collected from taxes are used to fund infrastructure projects, education, healthcare, defense, social welfare programs, and other government initiatives essential for the functioning of a society.
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Quick Quiz What are the three basic questions Financial Managers must answer? What are the three major forms of business organization? What is the goal of financial management? What are agency problems, and why do they exist within a corporation? What is the difference between a primary market and a secondary market?
The three basic questions Financial Managers must answer are:
What long-term investments should the firm undertake? This question relates to capital budgeting decisions, where financial managers analyze potential investment opportunities and decide which projects to pursue.
How should the firm finance its investments? This question pertains to the capital structure decisions, where financial managers determine the optimal mix of debt and equity financing to fund the firm's operations and investments.
How can the firm manage its cash flows efficiently? This question involves working capital management decisions, where financial managers focus on managing the firm's short-term assets and liabilities to ensure smooth cash flow operations.
The three major forms of business organization are:
Sole Proprietorship: A business owned and operated by a single individual. The owner has unlimited liability and retains all profits but also bears all losses.
Partnership: A business owned by two or more individuals who share the profits, losses, and liabilities. There are different types of partnerships, including general partnerships and limited partnerships.
Corporation: A legal entity that is separate from its owners (shareholders). It has limited liability, allows for the sale of shares, and can continue to exist even if ownership changes.
The goal of financial management is to maximize shareholder wealth or maximize the value of the firm. Financial managers strive to make decisions that increase the value of the firm's common stock and benefit the shareholders.
Agency problems refer to conflicts of interest that arise between the different parties involved in a corporation, such as shareholders and managers. These conflicts can arise due to differing goals and incentives. Agency problems exist because managers may not always act in the best interest of shareholders and may prioritize their own interests. For example, managers may make decisions that maximize their own compensation rather than maximizing shareholder wealth.
A primary market is where new securities are issued and sold for the first time. It is the market where companies raise capital by selling newly issued stocks or bonds directly to investors. In the primary market, the proceeds from the sale go to the issuing company.
A secondary market is where existing securities are bought and sold among investors. It is the market where investors trade previously issued securities, such as stocks and bonds, without involvement from the issuing company. The secondary market provides liquidity to investors by allowing them to buy or sell securities to other investors.
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Suppose a company faces decreasing average cost for all quantities of Q. a) What type of industry is this? b) Draw a graph that shows quantity and price choice assuming the company is unregulated. c) Draw a graph that show profit if the government forces the company to produce at the perfect competition Q and P.
a) The company operates in a decreasing-cost industry.
b) [Graph illustrating quantity and price choice]
c) [Graph illustrating profit under government-mandated perfect competition]
What type of industry experiences decreasing average costs?In a decreasing-cost industry, a company experiences a decline in average cost as production increases. This is typically seen in industries where economies of scale come into play. As the company expands its operations and produces larger quantities of the good or service, it benefits from cost savings due to factors such as improved efficiency, bulk purchasing, or technological advancements.
When a company faces decreasing average costs for all quantities of Q, it indicates that it operates in a decreasing-cost industry. In such an industry, the company benefits from economies of scale as it produces more goods or services. As the company expands its output, it experiences cost savings due to various factors, including spreading fixed costs over a larger quantity, taking advantage of bulk discounts, or implementing technological improvements. These cost efficiencies result in a downward-sloping average cost curve.
Graphically, in an unregulated scenario, the company's quantity and price choice can be represented on a graph. The quantity (Q) is plotted on the horizontal axis, while the price (P) is shown on the vertical axis. The graph would depict a downward-sloping average cost curve, indicating decreasing costs as quantity increases. The company would choose a quantity and corresponding price that maximizes its profit, taking into account factors such as demand and market conditions.
However, if the government imposes perfect competition on the company, the graph representing profit would change. In perfect competition, the company is forced to produce at the quantity (Q) and price (P) determined by the market, which typically leads to a lower price compared to the unregulated scenario. The profit graph would reflect the area between the market-determined price and the average cost curve at the mandated quantity. This area could represent positive, negative, or zero economic profit, depending on the specific circumstances.
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Sara Thomson is the president and operates the Thomson Company. The following selected transactions were completed by Thomson Company during August: 2. 1. Received cash from the stockholder as additional investment $200,000. Billed customers for services on account, $45,777. Received electric bill $450, to be paid next month. 3. 4. Received cash from customers on accounts $22,430. 5. Paid creditors on account $12,000 Paid cash dividends, $18,444 6. Note: Each transaction has two entries. Entry Entry Amount Acct Name of Amount Type Acct Increase or Acct Name Decrease Type (4) of Acct (1) (2) (3) (1) (2) (3) 1 23456 Increase or Decrease
Based on the provided information, here are the journal entries for the selected transactions completed by Thomson Company during August:
1. Received cash from the stockholder as additional investment $200,000.
Debit: Cash $200,000
Credit: Common Stock $200,000
2. Billed customers for services on account, $45,777.
Debit: Accounts Receivable $45,777
Credit: Service Revenue $45,777
3. Received an electric bill $450, to be paid next month.
Debit: Utilities Expense $450
Credit: Accounts Payable $450
4. Received cash from customers on accounts $22,430.
Debit: Cash $22,430
Credit: Accounts Receivable $22,430
5. Paid creditors on account $12,000.
Debit: Accounts Payable $12,000
Credit: Cash $12,000
6. Paid cash dividends $18,444.
Debit: Retained Earnings $18,444
Credit: Cash $18,444
Each transaction has two entries, with one being a debit entry and the other being a corresponding credit entry. The specific account names and amounts may vary depending on the company's chart of accounts and accounting practices.
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Using the above data, answer the following questions: a. Has the manager over-performed or under-performed? 1 marks b. What was the contribution of security selection to relative performance? 3 marks
It can be inferred that the manager has over-performed and the contribution of security selection to relative performance is 1.10%. T
a. The Manager’s performance can be compared to the benchmark by calculating the excess return (or alpha) achieved by the manager. From the above table, it can be observed that the manager had an excess return of 1.75%. As the manager’s return is higher than the benchmark return, it can be concluded that the manager has outperformed and has not underperformed.b. Security Selection Contribution to relative performance is calculated as the sum of each security's individual contribution. This is the part of performance attributable to the specific security selection of the portfolio manager rather than overall market movement. For the above table, the Security Selection Contribution can be calculated by using the formula (Portfolio Return - Benchmark Return) - (Sector Allocation Effect + Security Selection Effect) which results in the value of 1.75% - 0.65% = 1.10%. Therefore, the contribution of security selection to relative performance is 1.10%.Hence, it can be inferred that the manager has over-performed and the contribution of security selection to relative performance is 1.10%. T
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Carreclerc Company Carreclerc is a major supermarket chain. In February 2021, the store located in the close suburb of Paris was given the opportunity to increase its surface area. The manager wants t
In February 2021, Carreclerc, a major supermarket chain, had the opportunity to expand its store in a close suburb of Paris. The manager wants to take advantage of this opportunity.
In February 2021, Carreclerc, a prominent supermarket chain, was presented with the chance to expand its store in a suburb near Paris. The manager recognizes the potential benefits of increasing the store's surface area and wants to seize this opportunity. Expanding the store's size can lead to several advantages, such as accommodating more products, enhancing the shopping experience for customers, providing additional services, and potentially attracting a larger customer base. By taking advantage of this opportunity, the manager aims to strengthen the position of the Carreclerc supermarket in the local market and capitalize on the potential for increased revenue and growth.
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the average number of shares outstanding was 7,900 for year 3 and 7,000 for year 2. required compute the following ratios for rundle for year 3 and year 2.
The required ratios for Rundle for Year 3 and Year 2 are:Price/Earnings ratioYear 3Formula = Market price per share/ Earnings per share= $45 / $2.20 = 20.45 times
The ratio implies that investors are willing to pay $20.45 for every dollar earned by the companyYear 2Formula = Market price per share/ Earnings per share= $39 / $1.10 = 35.45 timesThe ratio implies that investors are willing to pay $35.45 for every dollar earned by the company.Price/Book value ratioYear 3Formula = Market price per share / Book value per share= $45 / $12.50 = 3.6 times
The ratio implies that investors are willing to pay $3.6 for every dollar of assets owned by the company Year 2 Formula = Market price per share / Book value per share= $39 / $11 = 3.54 times. The ratio implies that investors are willing to pay $3.54 for every dollar of assets owned by the company.
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Marcia has an option to invest in an insurance policy at a rate of 20 % to achieve her goal of purchasing the car for $2,500,000. How much should she invest at the beginning of each year for the next 5 years in order to achieve her goal? If the interest rate decreases from 20% to 15%, by how much would Marcia's annual investment in part C. change?
To achieve her goal of purchasing a car for $2,500,000, Marcia should invest a certain amount at the beginning of each year for the next 5 years. The specific amount will depend on the interest rate of 20% and the timing of the investments. If the interest rate decreases from 20% to 15% in Part C, Marcia's annual investment will change, but the exact amount can be calculated using the new interest rate and investment period.
To determine how much Marcia should invest at the beginning of each year for the next 5 years to achieve her goal of purchasing a car for $2,500,000, the concept of present value of an annuity can be used. The present value of an annuity formula takes into account the interest rate, the investment period, and the desired future value. By rearranging the formula, the annual investment amount can be calculated. The calculation will depend on the interest rate of 20% and the specific timing of the investments. If the interest rate decreases from 20% to 15% in Part C, Marcia's annual investment will change. The new interest rate of 15% will affect the present value of the annuity calculation, resulting in a different annual investment amount. To determine the exact change, the new interest rate and investment period need to be plugged into the present value of an annuity formula. The difference between the annual investment amount calculated at 20% and 15% will indicate the change in Marcia's investment.
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Suppose that a central bank wanted to enact more contractionary monetary policy. Say which of the following would increase, decrease, or exhibit no change, if the policy was successful.
A. Borrowing
B. GDP
C. Inflation
D. Interest rates
E. Unemployment
A. Borrowing: Decrease
B. GDP: Decrease
C. Inflation: Decrease
D. Interest rates: Increase
E. Unemployment: Increase
Contractionary monetary policy aims to reduce the level of economic activity to control inflation. The policy involves reducing the money supply, which has several effects:
A. Borrowing: Decreases because tighter monetary policy typically leads to higher interest rates, making borrowing more expensive and less attractive for businesses and individuals.
B. GDP: Decreases as the reduction in borrowing and increased cost of credit slows down investment and consumption, leading to lower overall economic output.
C. Inflation: Decreases as the central bank aims to curb inflationary pressures by reducing the money supply and limiting spending in the economy.
D. Interest rates: Increase as the central bank tightens monetary policy by raising benchmark interest rates to reduce borrowing and spending.
E. Unemployment: Increases as the contractionary policy reduces economic activity, leading to lower investment, lower production, and potential job losses.
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1. Describe the two criteria for determining the valuation of financial assets. 2. Which types of investments are valued at amortized cost? Explain the rationale for this? 3. What is amortized cost? What is fair value? 4. Lady Gaga Co. recently made an investment in the bonds issued by Chili Peppers Inc. Lady Gaga's business model for this investment is to profit from trading in response to changes in market interest rates. How should this investment e classified by Lady Gaga? Explain.?
1. Two Criteria for Determining the Valuation of Financial Assets:
a) Amortized Cost: This valuation method is used for financial assets that are held to collect contractual cash flows and have fixed or determinable payments.
key criteria for valuing assets at amortized cost include the intention to hold the asset to maturity and the absence of significant changes in the timing or amount of cash flows.
b) Fair Value: Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. This valuation method is applied when financial assets do not meet the criteria for amortized cost or when the entity chooses to measure them at fair value.
2. Investments Valued at Amortized Cost:
Typically, debt instruments such as bonds and loans are valued at amortized cost. The rationale for valuing these investments at amortized cost is based on the concept that the holder expects to receive the contractual cash flows from these instruments until their maturity. The intention is to hold the investment until it reaches its maturity date, and any changes in market value or interest rates do not significantly impact the holder's decision to hold the investment. By valuing these investments at amortized cost, the entity recognizes interest income over the life of the investment, matching it with the periodic cash flows received.
3. Amortized Cost and Fair Value:
Amortized Cost: Amortized cost is the initial recognition value of a financial asset adjusted for any subsequent amortization of premium or discount and reduced by impairment losses. It represents the carrying value of the asset on the balance sheet over its remaining term. Under the amortized cost model, the asset is valued based on the cash flows it is expected to generate over time.
Fair Value: Fair value is the estimated price at which an asset could be exchanged or a liability settled between knowledgeable and willing parties in an arm's length transaction. It represents the current market value of the asset and is determined based on available market information. Fair value reflects the potential market price of the asset at a given point in time and may fluctuate over time.
4. Classification of Lady Gaga Co.'s Investment:
Considering Lady Gaga Co.'s business model of profiting from trading in response to changes in market interest rates, the investment in the bonds issued by Chili Peppers Inc. should be classified as a "Fair Value Through Profit or Loss" (FVTPL) or "Trading" investment. This classification applies when an entity holds financial assets primarily for the purpose of short-term profit-taking from fluctuations in market prices or interest rates.
As Lady Gaga Co.'s intention is not to hold the investment to maturity but rather to actively trade and profit from changes in market interest rates, the investment aligns with the criteria for fair value measurement and the trading classification. The investment's fair value would be regularly adjusted, and any changes in fair value would be recognized in the income statement.
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1. why is the age pension age pension means tested ( 1 marks )
2. briefly describe the age pension Assets test and in come test ( 3 marks )
3. when applying the assets test and income test which is used to determine the final pension payment ( 1 marks )
The answers for 3 questions of pensions are-
1. The age pension is means tested because it is a government benefit designed to provide income support to those who are retired or no longer working. The means test ensures that those who have significant financial assets or income are not eligible for the pension, while those who have limited financial resources receive more assistance.
2. The age pension assets test and income test are two assessments used to determine a person's eligibility for the pension and the amount they will receive. The assets test looks at a person's total assets, including their home, investments, and savings, and determines whether they exceed certain thresholds. The income test looks at a person's total income, including any earnings from employment or investments, and assesses whether it exceeds a certain limit. If a person's assets or income are above these thresholds, their pension payment will be reduced.
3. When applying the assets test and income test, both assessments are used to determine the final pension payment. The assessment that results in the lower pension payment is used to calculate the final amount. For example, if a person's assets test results in a lower pension payment than their income test, then the assets test will be used to calculate their final pension payment.
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For the fallowing transpiration problem the objective function will be? by using the voge M1 M2 M3 M4 SUPPLY A 10 1 20 11 15 B 12 7 9 20 25 C 1 14 16 18 5 DEMAND 5 15 15 10 45
The objective function of the given transportation problem is to minimize the total cost of transportation.
The objective of a transportation problem is to determine the optimal allocation of goods from multiple sources to multiple destinations, while minimizing the total transportation cost. In this case, we have four sources (M1, M2, M3, M4) and three destinations (A, B, C). The supply capacities and demand requirements are given in the table.
To formulate the objective function, we need to consider the cost of transporting goods from each source to each destination. The cost values are not provided in the question, so they must be defined separately. Once we have the cost matrix, we multiply it element-wise with the allocation matrix (which represents the amount of goods transported from each source to each destination). Then, we sum up all the resulting costs to obtain the total transportation cost.
Therefore, the objective function for this transportation problem would be to minimize the total cost of transportation, subject to the supply capacities and demand requirements. The solution to this problem would involve finding the allocation that achieves the minimum cost while satisfying all constraints.
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If a firm can sell a product, but in order to sell that product the selling price will be less than its variable costs, then the sale should be made because at least the fixed costs will be covered. TRUE OR FALSE
An investment of $1,000 with annual benefits of $150 per year for the first five years of its life and $100 per year the next five years of its life has a payback period of?
A. 7 years
B. 7.5 years
C. 8 years
D. none of the above
One thousand dollars invested today at 5 percent per year, compounded annually, for five years will be worth
a. $1,050
b. $1,250
c. $1,276
d. None of the above
If fixed costs are $500,000, the selling price is $10/unit and variable cost is $6/unit, then breakeven in dollars is
a. $5,000,000
b. $125,000
c. $1,250000
d. None of the above
The breakeven in dollars is $1,250,000.Option C: $1,250,000 is the correct answer.
The given statement, "If a firm can sell a product, but in order to sell that product, the selling price will be less than its variable costs, then the sale should be made because at least the fixed costs will be covered," is a False statement.
A firm should not sell a product if the selling price is less than the variable costs as this will result in the firm suffering a loss.
Given that an investment of $1,000 with annual benefits of $150 per year for the first five years of its life and $100 per year for the next five years of its life. We need to calculate the payback period.
To find out the payback period we can use the following formula: Payback period = Cost of investment / Annual cash inflowsLet's find out the cost of investment: Cost of investment = $1,000
Next, we need to calculate the annual cash inflows for the 10 years.
Let's find out the annual cash inflows for the first 5 years annual cash inflows for the first 5 years = $150 x 5= $750
Let's find out the annual cash inflows for the next 5 yearsAnnual cash inflows for the next 5 years = $100 x 5= $500Total annual cash inflows = $750 + $500= $1250
Now, we can calculate the payback period: Payback period = $1,000 / $1,250= 0.8 years
therefore, the payback period is 0.8 years or 7.5 months approximately.
Option B: 7.5 years is the correct answer.
Problem 2:One thousand dollars invested today at 5 percent per year, compounded annually, for five years will be worth
We given that $1000 is invested at 5% per year compounded annually for 5 years. We need to find out the future value of the investment.
The formula to calculate the future value of an investment is: FV = PV x (1+r)
where FV = Future value = Present Value (Amount invested today)r = Interest rate per period = Number of periodsFor this problem, we have PV = $1000, r = 5% per year and n = 5 years
now, we can find out the Future Value:FV = $1,000 x (1+0.05)^5= $1,276.28
Therefore, the investment of $1000 will be worth $1,276.28 in 5 years.
Option C: $1,276 is the correct answer.
Problem 3:If fixed costs are $500,000, the selling price is $10/unit and variable cost is $6/unit, then breakeven in dollars is:
We are given that fixed costs are $500,000, the selling price is $10/unit and variable cost is $6/unit. We need to calculate the breakeven in dollars.
The break-even point is the level of sales at which the company makes no profit and no loss.
The formula to calculate the breakeven point is: Breakeven point (units) = Fixed costs / (Selling price - Variable cost per unit)Breakeven point (units) = $500,000 / ($10 - $6)= $500,000 / $4= 125,000 units
Therefore, the breakeven point is 125,000 units. Now we can calculate the breakeven in dollars by multiplying the breakeven point by the selling price:$10 x 125,000= $1,250,000
Therefore, the breakeven in dollars is $1,250,000.Option C: $1,250,000 is the correct answer.
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Explain the use of franchise as an option for new venture
expansion strategy for an entrepreneur & discuss its relative
advantages & disadvantages both to the franchisor &
franchisee.
Franchising is an option for new venture expansion strategy for entrepreneurs. Franchising involves the licensing of a successful business model and brand to another person or group, who then operates their own version of the business under the franchisor's guidance and support.
The advantages of franchising for the franchisor include:
Expansion and Growth: Franchising can be a quick way to expand a business without the need for large amounts of capital.
Limited Liability: Franchisees are responsible for operating their own businesses, so the franchisor has limited liability.
Consistency: Franchisors can ensure that all franchisees follow established processes and procedures, leading to consistency in customer experience.
Additional Revenue Streams: Franchisors can generate additional revenue streams from franchise fees, royalties, and other charges.
The advantages of franchising for the franchisee include:
Established Business Model: Franchisees benefit from an established business model that has been proven successful.
Training and Support: Franchisees receive training and ongoing support from the franchisor, which can be beneficial for those new to business ownership.
Reduced Risk: Franchisees may have reduced risk compared to starting a completely new business from scratch.
Brand Recognition: Franchisees have the advantage of using an established brand with existing customer recognition.
The disadvantages of franchising for the franchisor include:
Loss of Control: Franchisors may relinquish some control over how their brand is operated by franchisees.
Legal Obligations: Franchisors have legal obligations to provide support to franchisees and may be held liable if they fail to do so.
High Initial Investment: Setting up a franchise system can require a significant initial investment.
Shared Profits: Franchisors often share profits with franchisees.
The disadvantages of franchising for the franchisee include:
Cost: Franchisees may need to pay significant fees, such as upfront franchise fees and ongoing royalties.
Limited Autonomy: Franchisees may have limited autonomy in how they operate their businesses under the guidance of the franchisor.
Contractual Obligations: Franchisees often have contractual obligations to follow specific procedures and may be restricted from making certain decisions independently.
Dependence on the Franchisor: Franchisees may depend on the franchisor for ongoing support and guidance.
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In 2016, to help pay for college, you worked part-time at a local restaurant, earning $24,000 in wages and tips. Use the following information to complete parts (a) through (c) below. For people who are not self-employed, the 2016 FICA tax rates were as follows: 2016 Marginal Tax Rates, Standard Deductions, and Exemptions Tax Rate 7.65% on the first $118,500 from wages and tips Single 10% up to $9275 1.45% on income in excess of $118,500 15% $9276 to $37,650 Standard Deduction $6300 Exemptions (per person) $4050 Taxpayers are not permitted to subtract adjustments, exemptions, or deductions when determining FICA taxes. a. Calculate your FICA taxes. The FICA taxes are $1836 (Type an integer or a decimal. Round to two decimal places as needed.) b. Calculate your income tax. Assume you are single with no dependents, have no adjustments or tax credit, and you take the standard deduction. The income tax is $ (Type an integer or a decimal. Round to two decimal places as needed.) c. Including both FICA and income tax, what percentage of your gross income are your federal taxes? Federal taxes are (Type an integer or a decimal. Round to one decimal place as needed.)
In 2016, you earned $24,000 in wages and tips.
To calculate your FICA taxes, apply the 7.65% rate to your income since it is below the $118,500 threshold. FICA taxes are $24,000 x 0.0765 = $1,836.
Next, calculate your income tax. As a single person with no dependents, you will use the standard deduction of $6,300 and exemption of $4,050. Your taxable income is $24,000 - $6,300 - $4,050 = $13,650. The income tax rates applicable to you are 10% up to $9,275 and 15% from $9,276 to $37,650. Your income tax is ($9,275 x 0.10) + (($13,650 - $9,275) x 0.15) = $927.50 + $657.50 = $1,585.
To determine the percentage of your gross income that your federal taxes (FICA and income tax) represent, add the FICA and income tax amounts and divide by your gross income: ($1,836 + $1,585) / $24,000 = 0.14254 or 14.3%.
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Marriott has $1.489 (million) worth of inventory and their COGS are $10.720 (mittionTheir average holding cost per unit per year is $13.3. What is the average inventory cost per unit for Marriott? Instruction: Round your answer to the nearest 50.01 The average inventory cost per unit ..........
The average inventory cost per unit for Marriott is approximately $7,150, calculated by dividing the inventory value by the cost of goods sold.
How to calculate average inventory cost per unit for Marriott?To calculate the average inventory cost per unit for Marriott, we divide the total inventory value by the number of units in inventory.
Given information:
Inventory value: $1.489 million
Cost of Goods Sold (COGS): $10.720 million
We can calculate the average inventory cost per unit using the formula:
Average Inventory Cost per Unit = Inventory Value / COGS
Average Inventory Cost per Unit = $1.489 million / $10.720 million
Average Inventory Cost per Unit ≈ 0.1388
Rounding the answer to the nearest 50.01, we get:
Average Inventory Cost per Unit ≈ $7,150
Therefore, the average inventory cost per unit for Marriott is approximately $7,150.
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one of the most important factors in successfully creating organizational change is the creation of a culture of .
One of the most important factors in successfully creating organizational change is the creation of a culture of openness.
This culture of openness is the development of an organizational culture that encourages and supports dialogue, honesty, transparency, and trust among employees. This culture allows employees to share their ideas, opinions, and feedback without fear of retaliation or judgment.
This is important because change can only happen when employees are willing to challenge the status quo and are committed to finding new and better ways of doing things. A culture of openness creates an environment that supports experimentation, learning, and continuous improvement.
This culture also encourages collaboration, which is essential for successful change initiatives. Ultimately, the creation of a culture of openness helps organizations become more adaptable, innovative, and competitive in today's rapidly changing business environment.
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In the figure, if the market price is $4 per unit, what is the perfectly competitive firm's profit maximizing quantity? OA. 30 units OB. 35 units OC. 20 units OD. 0 units OE. 5 units. In the figure, if the market price is $14 per unit, the firm will choose to produce and the firm will A. 30 units; make a positive economic profit. OB. more than 30 units; make a positive economic profit. OC. more than 30 units; break even. OD. more than 30 units; incur an economic loss OE. less than 30 units; break even OF. 30 units; incur an economic loss OG. less than 30 units; incur an economic loss. OH. less than 30 units; make a positive economic profit. OI. 30 units; break even. the firm will choose to shut down in the short run If the price is any lower than OA. $4 OB. $20 OC. $8 OD. $16 OE. $12 Price and cost (dollars per unif 201 16 N 0 MC AVC 5 10 15 20 25 30 35 40 45 50 Quantity (units per day! ATC OF. 30 units; incur an economic loss. OG. less than 30 units; incur an economic loss. OH. less than 30 units, make a positive economic profit. OL. 30 units; break even. If the price is any lower than OA. $4 B. $20 OC. $8 COD. $16 OE. $12 If the price is any lower than OA. $20 OB. $8 C. $4 D. $16 E. $12 ooo 00 the firm will choose to shut down in the short run. the firm will exit the market in the long run. EIDE Price and cost c 12 0 5 10 15 20 25 30 35 40 45 50 Quantity (units per day)
The profit-maximizing quantity for the perfectly competitive firm, given a market price of $4 per unit, is 20 units.
In the given figure, the perfectly competitive firm maximizes its profit by producing at the quantity where marginal cost (MC) equals marginal revenue (MR), which is the market price in a perfectly competitive market. At a market price of $4 per unit, the firm's profit-maximizing quantity is the point where MC intersects with the market price line, which is 20 units. This is the quantity at which the firm can maximize its profits in the short run.
For the second part of the question, if the market price is $14 per unit, the firm will choose to produce a quantity greater than 30 units and make a positive economic profit. This is because the market price is above the firm's average total cost (ATC) at a quantity greater than 30 units, indicating that the firm can cover its costs and generate a profit. The firm will continue to produce and earn economic profits as long as the market price remains above its ATC.
If the market price falls below $4 per unit, the firm will choose to shut down in the short run. This is because the market price is below the firm's average variable cost (AVC), and producing any quantity would result in incurring losses greater than the fixed costs. In the long run, if the price remains below the firm's average total cost (ATC), the firm will eventually exit the market to avoid sustained losses.
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Q1 - After reading the Sony - Blockchain use case, please
explain the copyright data flow and how Blockchain is used for this
flow.
Q2 - Please do research on Defi, DAO, and NFT in the context of
bloc
Blockchain technology can be utilized to establish a decentralized and immutable ledger of copyright-related information. This can help address issues such as copyright ownership, licensing, and distribution tracking.
The copyright data flow begins with content creators registering their work on the blockchain. This registration includes details such as the creator's identity, the date of creation, and information about the content itself. This data is stored in a distributed and decentralized manner across multiple nodes in the blockchain network.
Once registered, the copyright information can be easily accessed and verified by relevant parties, such as potential buyers, distributors, or licensing agencies. The blockchain acts as a transparent and tamper-proof ledger, ensuring the authenticity and integrity of the copyright data.
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The figure shows the demand for DVD rentals. 3 2 1 D L L 0 25 50 75 100 125 150 DVD rentals per day a. Calculate the elasticity of demand when the price of a DVD rental rises from $3 to $5. b. At what price is the elasticity of demand for DVD rentals equal to 1? Price (dollars per DVD)
the elasticity of demand when the price of a DVD rental rises from $3 to $5 is -0.5, indicating an inelastic demand. The price at which the elasticity of demand for DVD rentals is equal to 1 is $2, representing unitary elasticity of demand.
a) To calculate the elasticity of demand when the price of a DVD rental rises from $3 to $5, we first need to determine the percentage change in quantity demanded and the percentage change in price.
The initial quantity demanded at a price of $3 is 75 DVD rentals per day, and the quantity demanded at a price of $5 is 50 DVD rentals per day. Therefore, the percentage change in quantity demanded is:
Percentage Change in Quantity Demanded = ((50 - 75) / 75) * 100% = -33.33%
The percentage change in price is:
Percentage Change in Price = ((5 - 3) / 3) * 100% = 66.67%
Using these values, we can calculate the elasticity of demand:
Elasticity of Demand = (-33.33% / 66.67%) = -0.5
The elasticity of demand is -0.5, indicating an inelastic demand as the magnitude is less than 1. This means that a 1% increase in price leads to a less than 1% decrease in quantity demanded.
(b) To find the price at which the elasticity of demand for DVD rentals is equal to 1, we need to identify the price level where the percentage change in quantity demanded is equal to the percentage change in price. At this price, the demand is unitary elastic.
By observing the figure, we can see that at a price of $2, the quantity demanded is 100 DVD rentals per day. If the price decreases by 50% to $1, the quantity demanded increases to 125 DVD rentals per day. Therefore, at a price of $2, the percentage change in quantity demanded is:
Percentage Change in Quantity Demanded = ((125 - 100) / 100) * 100% = 25%
The percentage change in price is:
Percentage Change in Price = ((2 - 1) / 1) * 100% = 100%
At a price of $2, the percentage change in quantity demanded (25%) is equal to the percentage change in price (100%), indicating unitary elasticity of demand.
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assume the company is already operating at capacity when the special order is received
If a company is already operating at capacity when a special order is received, it may face some challenges in fulfilling the order. It faces a decision on whether to accept or decline the order.
In such a scenario, the company must evaluate whether it has the resources and capabilities to accept the order without negatively impacting its existing operations. The company may need to assess the cost of hiring additional labor, acquiring new equipment, or investing in additional infrastructure to fulfill the special order. If accepting the order is not feasible, the company may need to decline the order or negotiate with the customer for an extended lead time to fulfill the order. It is important for the company to carefully weigh the costs and benefits before accepting a special order to avoid any negative impacts on its existing operations.
The company should compare the potential revenue from the special order to the incremental costs. If the revenue exceeds the costs, it may be worthwhile to accept the special order. Lastly, the company should also consider qualitative factors, such as customer relations, potential for future orders, and the impact on the company's reputation. Balancing all these factors, the company can make an informed decision on whether to accept or reject the special order.
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eBook Hint Print References Required information [The following information applies to the questions displayed below.] Ramirez Company installs a computerized manufacturing machine in its factory at the beginning of the year at a cost of $87,000. The machine's useful life is estimated at 20 years, or 395,000 units of product, with a $8,000 salvage value. During its second year, the machine produces 33,500 units of product. Determine the machine's second-year depreciation and year end book value under the straight-line method. Straight-Line Depreciation Choose Numerator: / Choose Denominator: Annual Depreciation Expense Cost minus salvage / Estimated useful life (years) $ 79,000/ Year 2 Depreciation Year end book value (Year 2) 20 = = Depreciation expense Check my work 3,950 4 Part 2 of 3 8.33 points eBook Hint Print References ! Check my work Required information [The following information applies to the questions displayed below.] Ramirez Company installs a computerized manufacturing machine in its factory at the beginning of the year at a cost of $87,000. The machine's useful life is estimated at 20 years, or 395,000 units of product, with a $8,000 salvage value. During its second year, the machine produces 33,500 units of product. Determine the machine's second-year depreciation using the units-of-production method. Units-of-production Depreciation Choose Denominator: Choose Numerator: 1 = Annual Depreciation Expense = Depreciation expense per unit = 0 Annual Production (units) Depreciation Expense Year Year 2 LO 5 Part 3 of 3 8.33 points Skipped eBook Hint Print References Check my work Required information [The following information applies to the questions displayed below.] Ramirez Company installs a computerized manufacturing machine in its factory at the beginning of the year at a cost of $87,000. The machine's useful life is estimated at 20 years, or 395,000 units of product, with a $8,000 salvage value. During its second year, the machine produces 33,500 units of product. Determine the machine's second-year depreciation using the double-declining-balance method. Double-declining-balance Depreciation Choose Factors: Choose Factor(%) Annual Depreciation Expense = Depreciation expense First year's depreciation X Second year's depreciation
Straight-Line Method: Depreciation for Year 2 is $3,950 Year-End Book Value (Year 2) is $83,050Units-of-Production Method: Depreciation expense is $6,700 Year-End Book Value (Year 2) is $80,300Double-Declining-Balance Method: Depreciation for Year 2 is $7,830 Year-End Book Value (Year 2) is $70,470
Depreciation and year-end book value for a computerized manufacturing machine are determined using different depreciation methods. The Ramirez Company installs a computerized manufacturing machine in its factory at the beginning of the year at a cost of $87,000. The machine's useful life is estimated at 20 years, or 395,000 units of product, with an $8,000 salvage value. The machine produces 33,500 units of product during its second year. Determine the machine's second-year depreciation and year-end book value using the straight-line method, units-of-production method, and double-declining-balance method.
Straight-Line Depreciation Depreciation expense equals (cost minus salvage) divided by estimated useful life (years).$79,000 / 20 years
= $3,950 per year Depreciation for Year 2 is $3,950Year-End Book Value (Year 2)
= $87,000 - $3,950
= $83,050
Units-of-Production Depreciation Depreciation per unit equals (cost minus salvage) divided by estimated useful life in units. Depreciation expense equals depreciation per unit multiplied by annual production in units. Depreciation per unit = ($87,000 - $8,000) / 395,000 units
= $0.20 per unit Depreciation expense
= $0.20 x 33,500 units
= $6,700Year-End Book Value (Year 2)
= $87,000 - $6,700
= $80,300
Double-Declining-Balance Depreciation Depreciation expense equals beginning book value multiplied by a factor. The factor equals the straight-line rate multiplied by 2. The straight-line rate equals 100% divided by estimated useful life in years.100% / 20 years = 5% per year
The double-declining-balance factor equals 5% per year x 2 = 10%First-year depreciation equals $87,000 x 10%
= $8,700Second-year depreciation equals ($87,000 - $8,700) x 10%
= $7,830Year-End Book Value (Year 2)
= $87,000 - $8,700 - $7,830
= $70,470
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This is to help organizations avoid crises and spot opportunities
A. Situational Intelligence
B. Environmental Analysis
C. Ethical Behavior
D. None of the above
E. All of the above
THe correct option to help organizations avoid crises and spot opportunities is E. All of the above
Which factors aid organizations in crisis prevention and opportunity identification?In today's dynamic business landscape, organizations face numerous challenges and uncertainties. To navigate this complex environment successfully, it is crucial for organizations to possess a comprehensive set of skills and practices. This involves a combination of situational intelligence, environmental analysis, and ethical behavior. By incorporating all of these elements, organizations can effectively avoid crises and seize opportunities.
Situational intelligence refers to the ability to gather, analyze, and interpret relevant information about the internal and external factors impacting an organization. It enables organizations to stay aware of their surroundings, understand market trends, and anticipate potential risks or opportunities. By continuously monitoring the business environment, organizations can proactively respond to changes and make informed decisions.
Environmental analysis involves assessing the broader economic, social, political, and technological factors that influence an organization's operations. By conducting comprehensive analyses of the business environment, organizations can identify emerging trends, potential disruptions, and new opportunities. This allows them to adjust their strategies and align their goals with the evolving landscape, thereby staying competitive and adaptive.
Ethical behavior plays a vital role in crisis prevention and opportunity identification. Organizations that prioritize ethical conduct and transparency build trust with their stakeholders. Ethical behavior fosters a positive organizational culture, encourages responsible decision-making, and mitigates the risk of reputational damage. By upholding strong ethical standards, organizations not only safeguard their integrity but also enhance their ability to identify and capitalize on opportunities while minimizing the likelihood of crises.
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- what are the current problems facing today regarding about
transportation and traffic?
- what are the possible root or cause of the problem?
- and what are the solutions you may suggest to alleviate
The current problems facing transportation and traffic today include, Traffic Congestion: With an increase in the number of private vehicles on the road, traffic congestion has become a major problem.
2. Pollution: The combustion of fossil fuels in cars and trucks is a significant contributor to air pollution, which has a negative impact on public health.3. Accidents: Road accidents have become more common as more vehicles take to the road.4. Infrastructure: Many cities have outdated transport infrastructure that needs to be modernized.5. Limited Public Transport: People who rely on public transportation may face a difficult time traveling as public transport in many cities is limited. The possible root or cause of the problems include:1. Rapid Urbanization: With rapid urbanization, the number of private vehicles on the road has increased, leading to traffic congestion.2. Poor Infrastructure: Many cities have outdated transport infrastructure that cannot cope with the increased demand for transportation.3. Lack of Investment: Governments have not invested enough in the development of public transport systems.4. Lack of Regulations: Many cities lack the regulations required to manage traffic and transportation effectively. The possible solutions to alleviate these problems include:1. Investing in Public Transport: Governments can invest in public transport to make it more accessible and attractive to commuters.2. Encouraging the Use of Electric Vehicles: Encouraging the use of electric vehicles can help to reduce pollution.3. Building Cycling and Pedestrian Infrastructure: Building cycling and pedestrian infrastructure can encourage people to use non-motorized modes of transport.4. Introducing Carpooling and Ride-sharing: Encouraging carpooling and ride-sharing can help to reduce the number of vehicles on the road, reducing traffic congestion and pollution.5. Promoting Telecommuting: Promoting telecommuting can help to reduce the number of people who need to commute to work, reducing traffic congestion.
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Nantucket Industries manufactures and sells two models of watches, Prime and Luxuria. It expects to sell 3,500 units of Prime and 1,500 units of Luxuria in 2019.The following estimates are given for 2019: Prime Luxuria Selling price $200 $500 Direct materials 70 100 Direct labor 60 180 Manufacturing overhead 90 150 Nantucket had an inventory of 200 units of Prime and 105 units of Luxuria at the end of 2018. It has decided that as a measure to counter stock outages it will maintain ending inventory of 400 units of Prime and 230 units of Luxuria. Each Luxuria watch requires one unit of Crimpson and has to be imported at a cost of $12. There were 120 units of Crimpson in stock at the end of 2018. The management does not want to have any stock of Crimpson at the end of 2019. What is the total budgeted cost of goods sold for Nantucket Industries in 2019?
$1,433,000
$1,625,000
$1,415,000
$1,325,000
The total budgeted cost of goods sold for Nantucket Industries in 2019 is $1,415,000.
To calculate the budgeted cost of goods sold, we need to determine the cost of producing the units sold for both the Prime and Luxuria models.
For the Prime model:
Cost of direct materials per unit: $70
Cost of direct labor per unit: $60
Cost of manufacturing overhead per unit: $90
Total cost per unit of Prime = $70 + $60 + $90 = $220
Total units of Prime sold = 3,500
Total cost of Prime units sold = 3,500 * $220 = $770,000
For the Luxuria model:
Cost of direct materials per unit: $100Cost of direct labor per unit: $180Cost of manufacturing overhead per unit: $150Total cost per unit of Luxuria = $100 + $180 + $150 = $430
Total units of Luxuria sold = 1,500
Total cost of Luxuria units sold = 1,500 * $430 = $645,000
Total budgeted cost of goods sold = Cost of Prime units sold + Cost of Luxuria units sold
= $770,000 + $645,000
= $1,415,000
The total budgeted cost of goods sold for Nantucket Industries in 2019 is $1,415,000. This calculation takes into account the cost of producing and selling the Prime and Luxuria models based on the given estimates and sales projections.
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Quinton Johnston is evaluating NYL Manufacturing Company, Ltd. In 2017, when Johnston conducts his analysis, the company was unprofitable. Furthermore, NYL does not pay any dividends on its common stock. Johnston decided to evaluate NYL Manufacturing using his FCFE forecast. Johnston collects the following facts and assumptions: The company owns 17.0 billion shares outstanding. Sales will be $5.5 billion in 2018, and will increase by 28 percent annually over the next four years (until 2022). Net income will represent 32 percent of sales, and investment in fixed assets will account for 35 percent of sales. Working capital investment will be 6 percent of sales; Depreciation will be 9 percent of sales. • 20% of the net investment in assets will be financed by debt. The interest expense will be only 2 percent of sales. The tax rate will be 10 percent. NYL Manufacturing beta version is 2.1; The risk-free government bond rate is 6.4 percent; Equity risk premium of 5.0 percent. At the end of 2022, Johnston forecasts the value of NYL Terminal stock at 18 times earnings.
To evaluate NYL Manufacturing Company using the Free Cash Flow to Equity (FCFE) forecast, we need to calculate the Free Cash Flow to Equity for each year and then determine the terminal value at the end of 2022. Here's how we can calculate it:
Calculate the Free Cash Flow to Equity (FCFE) for each year:
FCFE = Net Income - (1 - Debt Ratio) * (Capital Expenditure + Working Capital Investment) + Depreciation - (1 - Debt Ratio) * Interest ExpenseNet Income = Sales * Net Income/Sales Ratio = $5.5 billion * 32% = $1.76 billionCapital Expenditure = Sales * Capital Expenditure/Sales Ratio = $5.5 billion * 35% = $1.925 billionWorking Capital Investment = Sales * Working Capital Investment/Sales Ratio = $5.5 billion * 6% = $330 millionDepreciation = Sales * Depreciation/Sales Ratio = $5.5 billion * 9% = $495 millionInterest Expense = Sales * Interest Expense/Sales Ratio = $5.5 billion * 2% = $110 millionDebt Ratio = 20%Tax Rate = 10%Now, calculate FCFE for each year using the given information and the formulas above.
Calculate the Terminal Value at the end of 2022:
Terminal Value = FCFE2023 * (1 + g) / (r - g)
FCFE2023 = FCFE2022 * (1 + g)
FCFE2022 = FCFE2021 * (1 + g)
FCFE2021 = FCFE2020 * (1 + g)
FCFE2020 = FCFE2019 * (1 + g)
FCFE2019 = FCFE2018 * (1 + g)
FCFE2018 is the FCFE calculated for the year 2018
Use the given growth rate and discount rate to calculate the Terminal Value.
Discount the FCFE for each year and the Terminal Value to the present value using the required rate of return (discount rate).
Sum up the present values of FCFE for each year and the Terminal Value to obtain the estimated intrinsic value of NYL Manufacturing Company.
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1- Discuss five strategies for dealing with the potential 'war for talent' from a human capital perspective and resource-based perspective.
2- Fenny suggests in his article that companies considering e-business should first create a coherent map to implement web-based technology. assess three core areas of an e-business path with a brief description.
3- Suppose your organization decides to use a Balanced Scorecard, then analyze the three challenges in implementing it.
4- Your supervisor asked you to deliver a presentation on e-learning methods. How would you outline
5- four benefits and four disadvantages of implementing e-learning within your company? Choose any four HR strategies you prefer to overcome change-management barriers if you decide to implement strategic changes in your organization.
6- Examine any four role of Ulrich's multiple-role model
7- Common barriers to change management in organizations can be rooted in three main areas. Assess any two types of change management barriers often evident in firms with its related factors.
8- You decide to incorporate mobility flexibility into your company's workspace because of changing workplace arrangements. How would you incorporate mobility flexibility at your firm? Name a sector that practices similar flexibility
1. Strategies for dealing with the potential 'war for talent': Human Capital perspective i. Regular training and development: Offer relevant training programs and professional development to ensure employees have the skills and knowledge to stay ahead of the competition. ii. Improve employee experience: Create an environment that fosters employee satisfaction and engagement. This will help reduce the chances of staff members being poached by competitors. Resource-Based perspective i. Invest in technology: Investing in technology such as data analytics can provide insights into recruitment trends and help in identifying potential talent. ii. Have a sound employee value proposition: Create a competitive employment package that not only includes financial rewards but also career growth opportunities and employee wellness initiatives.
2. Three core areas of an e-business path with a brief description i. Building the website: Creating an online platform requires technical knowledge. To avoid errors, it is essential to seek the help of professionals. ii. Developing an online marketing strategy: Creating an online presence requires a comprehensive strategy that aligns with business objectives. This includes search engine optimization, email marketing, social media marketing, and other promotional tactics. iii. Providing customer support: The establishment of an online platform demands 24/7 support through various channels like email, chat, phone calls, and even chatbots
3. Three challenges in implementing a Balanced Scorecard: Difficulty in selecting the right measures, difficulty in linking strategic objectives to performance measures, and difficulty in obtaining employee buy-in.
4. E-learning methods presentation outline i. Introduction to e-learning ii. Types of e-learning iii. Benefits of e-learning iv. Effective implementation of e-learning v. Measuring the effectiveness of e-learning vi. Conclusion
5. Benefits and disadvantages of implementing e-learning in a company Benefits: flexibility, cost savings, efficiency, and access to a wide range of training Disadvantages: Lack of interaction, potential for isolation, technology challenges, and lack of motivation.HR strategies to overcome change-management barriers: The strategies include communication, change readiness, culture change, and employee engagement.
6. Four roles of Ulrich's multiple-role model: Strategic partner, change agent, administrative expert, and employee champion
7. Two types of change management barriers and related factors i. Employee resistance: Lack of understanding, negative attitudes, and mistrust ii. Organizational barriers: Lack of resources, change of leadership, and lack of commitment from management.
8. Incorporating mobility flexibility: Creating a flexible work policy, investing in technology, providing the necessary tools, providing incentives for the employees, and defining the boundaries of flexible work. A sector that practices similar flexibility is the technology sector.
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Singh Enterprises, which started business on 1 January 2007, has an accounting year to 31 December and uses the straight-line method of depreciation. On 1 January 2007 the busi- ness bought a machine for £10,000. The machine had an expected useful life of four years and an estimated residual value of £2,000. On 1 January 2008 the business bought another machine for £15,000. This machine had an expected useful life of five years and an estimated residual value of £2,500. On 31 December 2009 the business sold the first machine bought for £3,000. Required: Show the relevant income statement extracts and statement of financial position extracts for the years 2007, 2008 and 2009.
2007: Net income and depreciation expense were £2,000.
2008: Net income and depreciation expense were £2,500.
2009: Gain from machine sale was £500, and net income included depreciation expense.
Statement of financial position: Machinery (net) decreased from £8,000 in 2007 to £12,500 in 2009, with accumulated depreciation increasing to £4,500.
How can the relevant income statement extracts and financial position extracts be determined for each year?To determine the relevant income statement extracts and statement of financial position extracts for each year, follow these steps:
1. Calculate Depreciation Expense:
- Subtract the estimated residual value from the initial cost of the machine.
- Divide the result by the expected useful life of the machine.
2. Calculate Net Income:
- Deduct the Depreciation Expense from the respective year's income.
3. Calculate Gain/(Loss) on Sale of Machine (if applicable):
- Subtract the Book Value of the machine (initial cost minus accumulated depreciation) from the Selling Price.
4. Update Machinery (Net):
- Subtract the accumulated depreciation from the initial cost of the machine.
5. Update Accumulated Depreciation:
- Add the annual Depreciation Expense to the previous year's accumulated depreciation.
6. Calculate Total Assets:
- Add up the net value of the machinery and other assets.
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Transactions for the Hartman Company for the month of November are presented below. Journalize each transaction and identify each transaction by number. You may omit journal explanations.
1. Stockholders invested an additional $40,000 cash in the business.
2. Purchased land costing $18,000 for cash
3. Purchased equipment costing $45,000 for $4,500 cash and the remainder on credit.
4. Purchased supplies on account for $800.
5. Paid $3,000 for a one-year insurance policy.
6. Received $2,000 cash for services performed.
7. Received $5,000 for services previously performed on account.
8. Paid wages to employees for $2,500.
9. Paid dividends to stockholders of $400.
Journalize each transaction. (If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.)
The journalizing of transactions for the Hartman Company for the month of November, When $2,500 was paid in wages to employees: Salaries and Wages Expense $2,500, Cash $2,500.9. When dividends of $400 were paid to stockholders: Dividends $400, Cash $400.
Along with the identification of each transaction by number, are presented below. Journal entries are a way of recording the details of a transaction in a comprehensive and structured manner.Transactions:1. When the stockholders invested an additional $40,000 cash in the business: Cash $40,000, Common Stock $40,000.2. When land was purchased for $18,000 cash: Land $18,000, Cash $18,000.3. When equipment was purchased for $45,000, $4,500 in cash and the remainder on credit: Equipment $45,000, Cash $4,500, Accounts Payable $40,500.4. When supplies were purchased on account for $800: Supplies $800, Accounts Payable $800.5. When a one-year insurance policy was paid for $3,000: Prepaid Insurance $3,000, Cash $3,000.6. When $2,000 cash was received for services performed: Cash $2,000, Service Revenue $2,000.7. When $5,000 was received for services previously performed on account: Cash $5,000, Accounts Receivable $5,000.8. When $2,500 was paid in wages to employees: Salaries and Wages Expense $2,500, Cash $2,500.9. When dividends of $400 were paid to stockholders: Dividends $400, Cash $400.
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broadtred, inc. makes automobile tires that have a mean life of 50,000 miles with a standard deviation of 2,500 miles. using excel functions (see chapter 6), determine the following:
To determine the following values using Excel functions, given that Broadtred, Inc. makes automobile tires that have a mean life of 50,000 miles with a standard deviation of 2,500 miles.
We can proceed as follows:Probability of getting a tire lasting less than 47,000 miles. To calculate the probability of getting a tire lasting less than 47,000 miles, we need to use the standard normal distribution, which has a mean of 0 and a standard deviation of 1. To convert the given values into the standard normal distribution, we can use the formula Z = (X - μ) / σwhere Z is the standardized value of the random variable X, μ is the mean of X, and σ is the standard deviation of X. Substituting the given values, we get Z = (47,000 - 50,000) / 2,500 = -1.20.
Using the Excel function NORMSDIST(-1.20), we get the value 0.1151. Therefore, the probability of getting a tire lasting less than 47,000 miles is 0.1151. Probability of getting a tire lasting between 47,000 and 53,000 miles. To calculate the probability of getting a tire lasting between 47,000 and 53,000 miles, we need to use the formula Z = (X - μ) / σ as before.
For the lower limit, we have Z1 = (47,000 - 50,000) / 2,500 = -1.20. For the upper limit, we have Z2 = (53,000 - 50,000) / 2,500 = 1.20.Using the Excel function NORMSDIST(1.20) - NORMSDIST(-1.20), we get the value 0.6870. Therefore, the probability of getting a tire lasting between 47,000 and 53,000 miles is 0.6870.Value below which 20% of the tires fail.
To find the value below which 20% of the tires fail, we need to find the corresponding Z-value for the cumulative probability of 0.20.
Using the Excel function NORMSINV(0.20), we get the value -0.84.Using the formula Z = (X - μ) / σ and substituting the given values, we can find the value of X as X = Zσ + μ = -0.84 × 2,500 + 50,000 = 47,900.
Therefore, the value below which 20% of the tires fail is 47,900 miles.
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In this reflection, you are to ‘connect" some practical issue or situation and reflect back on how the issue is related to one or more of the macroeconomic theories studied in class. You are to find a current affairs news article on the web that has some connection to Canada. Read the article and address the following questions/discussion points:
1. What, in the article, provides evidence of a connection to the macroeconomic models or theories? Be specific.
2. How does the model provide you with some clarity on understanding the article OR how does the article provide you with clarity on understanding the model.
3. How in the limited amount of economics we have covered thus far, has your perspective on macroeconomics changed?
To identify evidence of a connection to macroeconomic models or theories in an article, you can look for references to key macroeconomic indicators, policies, or events.
These may include topics such as GDP, inflation, unemployment, fiscal policy, monetary policy, international trade, or economic growth. Specific examples could be discussions on the impact of government stimulus measures on the economy, changes in interest rates by the central bank, or fluctuations in exchange rates.
The macroeconomic models and theories provide a framework to analyze and understand the underlying forces and dynamics at play in the article. For example, if the article discusses a decrease in interest rates by the central bank, you can use the aggregate demand and aggregate supply model to understand how this policy may affect consumer spending, investment, and overall economic activity. Similarly, if the article mentions a rise in inflation, you can refer to the Phillips curve to understand the trade-off between inflation and unemployment.
Conversely, the article can provide real-world examples and context to help you better understand and apply the macroeconomic models and theories learned in class. It can illustrate how these theories are relevant and applicable in explaining the economic phenomena discussed in the article. This practical application can enhance your understanding and provide a deeper insight into the complexities of macroeconomics.
As for changes in perspective, macroeconomics is a vast and evolving field, and a limited amount of coverage may not provide a comprehensive understanding of all its aspects. However, through studying macroeconomics, you may have gained a basic understanding of key concepts and theories that explain how the overall economy functions, how policies can impact economic outcomes, and how various economic indicators are interconnected. This knowledge can help you analyze and interpret economic events, policy decisions, and their implications more critically. It may have also provided you with a broader perspective on the interconnectedness of different sectors, countries, and global markets.
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