Explanation:
Snowdon Sandwich Shop
Contribution margin income statement
For the month of June
The contribution margin income statement is presented below:
Sales (480 × 5.50) $2,640
Less: Variable cost (480 × $0.75) ($360)
Contribution margin $2,280
Less: Fixed cost ($1,120)
Net income $1,160
In June, the Snowdon Sandwich Shop had a total variable cost of $360, a contribution margin of $2,040, and a net income of $920.
Explanation:To form the contribution margin income statement, we need first to calculate the total variable cost, then the contribution margin, and finally the net income. With the given details, let's commence:
Total Variable Cost = Variable cost per sandwich * Number of sandwiches sold = .75 * 480 = $360Contribution Margin = Sales - Total Variable Cost = (480 * 5.50) - 360 = $2,400 - 360 = $2,040Net Income = Contribution Margin - Total Fixed Cost = $2,040 - $1,120 = $920So, for Snowdon Sandwich Shop, the net income for the month of June is $920.
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Why does the explanation for the inverse relationship between the price level and quantity demanded depicted by the aggregate demand curve differ from the relationship between price and quantity demanded depicted by a demand curve for a specific good?
Answer:
Demand curve for individual goods is drawn on assumption that price changes for one good and others remain constant. But for Aggregate demand considers change in price level of multiple goods and services.
Explanation:
When considering demand curve of individual goods there is inverse relationship between price and quantity demanded of a good. The price change is pertaining to one good and the assumption is that all other good's prices remains constant and also that income level remains constant. As the price of a good Y rises quantity demanded for that good falls.
On the other hand considering aggregate demand, it looks at changes in price level. This cuts across various goods and also change in income level. So there is no assumption of price of some products being constant in aggregate demand curve. It however assumes supply of money by the government is constant.
The inverse relationship of price to quantity demanded (downward sloping curve) is affected by wealth effect, interest rate effect, and net exports effect.
Final answer:
The aggregate demand curve reflects the negative relationship between the overall price level and total demand due to the wealth effect, interest rate effect, and international trade effect, which differ from the substitution and income effects seen in individual demand curves.
Explanation:
The explanation for the inverse relationship between the price level and quantity demanded depicted by the aggregate demand curve differs from the relationship between price and quantity demanded depicted by a demand curve for a specific good due to different underlying effects. On a microeconomic demand curve, a decrease in price makes a good less expensive relative to substitutes, increasing its quantity demanded due to the substitution effect and the income effect. However, for the aggregate demand curve, the negative relationship between the price level and quantity of goods and services demanded emerges from broader macroeconomic phenomena, such as the wealth effect, the interest rate effect, and the international trade effect.
Effects Contributing to the Shape of Aggregate Demand Curve:
Wealth effect: As price levels drop, the real value of money increases, making consumers wealthier and more likely to spend, thus increasing consumption.
Interest rate effect: Lower price levels lead to lower interest rates, which encourages investment and spending and hence increases the quantity of goods and services demanded.
International trade effect: When domestic price levels fall, domestic goods become relatively cheaper than foreign goods, boosting exports and reducing imports, which supports greater aggregate demand.
These effects combined result in a rise of total spending, or aggregate demand, not merely because goods are cheaper but due to increased purchasing power, incentivized investments, and competitive exports.
Which of the following terms refers to a goal-oriented process that is directed toward ensuring that organizational processes are in place to maximize the productivity of employees, teams, and the organization? career development team strategic management performance management organization development
Answer:
Performance management
Explanation:
Performance management is a corporate management tool that aids managers to monitor and measure employees' work. Performance management's goal is to create an enabling environment where people can perform their to the best of their abilities to produce quality result.
Performance management is the activities and processes that focus mainly on areas to maintain and improve employee performance in line with an organisation's objectives.
Answer:
The correct answer is: performance management.
Explanation:
Performance management can be defined as a process that takes place in an organization that provides essential information for monitoring quality, time, cost, capacity, etc. in order to control workflow and processes so that there is greater support for information to aid decision making that will impact on improving the productivity of employees, teams and the organization so that the achievement of the established organizational goals is more effective.
Tater and Pepper Corp. reported free cash flows for 2015 of $39.1 million and investment in operating capital of $22.1 million. Tater and Pepper incurred $13.6 million in depreciation expense and paid $28.9 million in taxes on EBIT in 2015. Calculate Tater and Pepper's 2015 EBIT.
Answer:
$76.5 million
Explanation:
For computing the EBIT, first we have to do the following calculations
Free cash flow = Operating cash flow – Investment in operating capital
$39.1 million = Operating cash flow -$ 22.1million
So, operating cash flow is
= $39.1 million + $22.1 million
= $61.20 million
Now
Operating cash flow = EBIT – Taxes on EBIT + Depreciation expenses
$61.2 million = EBIT- $28.9 million + $13.6 million
So, the EBIT is
= $61.2 million + $28.9 million - $13.6 million
= $76.5 million
Numeric Company uses the periodic inventory method and had no beginning inventory. The company purchased 7 units of inventory at $8 per unit during January, 5 units of inventory at $10 per unit during February, and 6 units of inventory at $11.00 per unit during June. The company sold 6 units of inventory during October. There were no additional purchases or sales during the remainder of the year. If Numeric Company uses the weighted average method, what is the cost of its ending inventory?
Answer:
$115
Explanation:
The computation of the cost of the ending inventory is shown below:
Total units purchased
= 7 units + 5 units + 6 units
= 18 units
And, the total cost is
= 7 units × $8 + 5 units × $10 per unit + 6 units × $11 per unit
= $56 + $50 + $66
= $172
And, the closing units inventory units is
= 18 units - 6 units
= 12 units
So, the cost of ending inventory is
= $172 × 12 units ÷ 18 units
= $115
Extreme examples of unethical and illegal conduct are the exception in the business community. Which of the following statements about this behavior is false? Multiple Choice You can rely on the legal system to manage or assure ethical conduct at work. Even if illegal, few of these acts are prosecuted. Very few unethical acts are also illegal. Unethical behavior negatively affects the offending employee, coworkers, and the employer. Most unethical acts are not punished in any way.
Answer: The correct answer is "You can rely on the legal system to manage or assure ethical conduct at work.".
Explanation: The statement "You can rely on the legal system to manage or assure ethical conduct at work." is FALSE, because the legal system cannot be trusted to manage or ensure ethical conduct at work, since many unethical conduct is not illegal and cannot be punished despite the fact that it is not recommended and inconvenient and is not ethical.
The false statement is that you can rely on the legal system to manage or assure ethical conduct at work. This is due to the fact that although the legal system does deal with illegal activities, not all unethical acts are illegal, meaning that the legal system can't manage all unethical behavior.
Explanation:The false statement is: 'You can rely on the legal system to manage or assure ethical conduct at work.' While the legal system can prosecute and punish illegal acts, it's important to note that not all unethical behavior is illegal. Thus, relying solely on the legal system to manage or enforce ethical conduct is not efficient or effective.
For example, an employee gossiping about confidential information isn't considered illegal, but it is unethical. The legal system won't typically intervene in these types of scenarios. Therefore, industries often have their own ethical guidelines, or a code of conduct, which sets the standard for ethical behavior within an organization or profession.
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Which of the following statements about economic activity levels is false? A. Planting and growing crops is a primary economic activity. B. Marketing agricultural products is a secondary economic activity. C. Processing agricultural products, such as canning or freezing in a factory, is a secondary economic activity. D. Raising livestock is a primary economic activity. Please select the best answer from the choices provided. A B C D
Answer: option (A). Marketing agricultural products is a secondary economic activity.
Explanation: Economic activity refers to the activity of making, providing, purchasing, or selling goods or services. Furthermore, an action that involves producing, distributing, or consuming products or services is an economic activity.
Economic activities levels are divided into 4 they are :-
1). Primary Economic Activity
2). Secondary Economic Activity
3). Tertiary Activities
4). Quaternary Activities
Answer:
A (Planting and growing crops is a primary economic activity) is correct
Explanation:
I just took this quiz.
Hudson Co. reports the contribution margin income statement for 2019. HUDSON CO. Contribution Margin Income Statement For Year Ended December 31, 2019 Sales (9,600 units at $225 each) $ 2,160,000 Variable costs (9,600 units at $180 each) 1,728,000 Contribution margin 432,000 Fixed costs 324,000 Pretax income $ 108,000 Exercise 05-16 Break-even LO P2 1. Compute Hudson Co.'s break-even point in units. 2. Compute Hudson Co.'s break-even point in sales dollars.
Answer:
Instructions are listed below.
Explanation:
Giving the following information:
Selling price= 225
Unitary variable cost= 180
Fixed costs= 432,000
The break-even point method is useful to determine the level of unit and sales in dollars required to cover for the fixed costs.
To calculate the break-even point in units, we need to use the following formula:
Break-even point= fixed costs/ contribution margin
Break-even point= 432,000/ (225 - 180)= 9,600 unts
To calculate the break-even point in dollars, we need to use the following formula:
Break-even point (dollars)= fixed costs/ contribution margin ratio
Break-even point (dollars)= 432,000/ (45/225)= $2,160,000
Now, we can prove it:
Sales= 9,600*225= 2,160,000
Total variable cost= (9,600*180)= (1,728,000)
Contribution margin= 432,000
Fixed costs= (432,000)
Net operating profit= 0
Supplies on hand at October 31 total $500. Expired insurance for the month is $100. Depreciation for the month is $50. Services related to unearned service revenue in October worth $600 were performed. Services performed but not recorded at October 31 are $300. Interest accrued at October 31 is $95. Accrued salaries at October 31 are $1, 625. Instructions Prepare the adjusting entries for the items above.
Answer:
Supplies on hand at October 31 total $500
Inventory $ 500 (debit)
Income Statement - cost of sales $500 (debit)
Expired insurance for the month is $100
Insurance $ 100 (debit)
Account Payable - Insurance Provider $100(credit)
Depreciation for the month is $50
Depreciation $50 (debit)
Accumulated Depreciation / Asset $50 (credit)
Services related to unearned service revenue in October worth $600 were performed
Trade Receivable $ 600 (debit)
Revenue $ 600 (credit)
Interest accrued at October 31 is $95
Interest expense $95 (debit)
Interest Accrued $95 (credit)
Accrued salaries at October 31 are $1, 625
Salaries and Wages $ 1625
Salaries and Wages Accrued $ 1625
Explanation:
Supplies on hand at October 31 total $500
Recognise an Asset - Inventory and de-recognise an expense - cost of sales in Income statement
Expired insurance for the month is $100
Recognise an expense - Insurance and recognise a liablility - Trade Payable (Insurance Provider)
Depreciation for the month is $50
Recognise an expense - depreciation and de-recognise an asset through the accumulated depreciation account
Services related to unearned service revenue in October worth $600 were performed
Recognise an Asset- Trade Receivable and recognise revenue
Interest accrued at October 31 is $95
Recognise an expense - Interest and a liability - Interest accrued
Accrued salaries at October 31 are $1, 625
Recognise an expense - Salaries and Wages and de-recignise a liability - Salaries and Wages accrued.
To adjust entries, Supplies will be debited and credited by $500, Insurance Expenses will be debited and Prepaid Insurance credited by $100, Depreciation Expenses and Accumulated Depreciation are adjusted by $50, Unearned Service Revenue will be debited and Service Revenue credited by $600, for Services Performed But Not Recorded, Accounts Receivables and Service Revenue is adjusted by $300, Interest Expense and Interest Payable by $95 and for Accrued Salaries, Salaries Expense, and Salaries Payable are adjusted by $1,625.
Explanation:To adjust entries based on your provided information, five main steps are taken into account. These steps include Supplies, expired insurance, depreciation, services related to unearned service revenue, and accrued items. Here is how you can adjust the entries:
Supplies: The entry will be: Debit Supplies Expense $500, Credit Supplies $500.Expired Insurance: We can record this by: Debit Insurance Expense $100, Credit Prepaid Insurance for $100.Depreciation: The adjusting entry is Debit Depreciation Expense $50, Credit Accumulated Depreciation $50.Unearned Service Revenue: This can be recorded as Debit Unearned Service Revenue of $600 and Credit Service Revenue of $600.Services Performed But Not Recorded: The entry here is: Debit Accounts Receivable $300, Credit Service Revenue $300.Accrued Interest: The correct adjustment is: Debit Interest Expense $95, Credit Interest Payable $95.Accrued Salaries: And finally for the salaries, the entry would be: Debit Salaries Expense $1,625, Credit Salaries Payable $1,625.Learn more about Adjusting Entries here:https://brainly.com/question/33175618
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1. When a business finds it necessary to layoff some employees (due to slowing sales), what positive effects might this have for the business?
2. Mr. Smith was disabled in a car accident in 1995 and has not been able to work since. Is Mr. Smith included in the unemployment statistics? Why or why not?
Answer:
PART A
(1) To reduce wastages
(2) To increase profit margin
(3) To reduce cost of operations.
PART B
(1) NO,he is not included
(2) Because he is unable to work or be gainfully employed.
Explanation:
Layoff is a manpower management process through which Organisations down size their manpower strength or number in order to meet certain specified Objectives. Layoffs usually takes place in Organisations that are not meeting their Strategic objectives such profit making,cost reduction and Control etc.
Unemployment is a term used to describe the inability of a person or group of persons who are willing and have the capacity to work but could not secure gainful employment in an economy.
MR. SMITH DOES NOT HAVE THE CAPACITY TO WORK,HENCE HE CAN NOT BE INCLUDED IN THE UNEMPLOYMENT STATISTICS.
Imagine that businesspeople from a high-context culture (e.g., Japan or China) meet their counterparts from a low-context culture (the United States) for the first time to negotiate and sign a manufacturing contract. What could go wrong? How about conflicting perceptions of time?
Answer:
As per Chegg guidelines .
Explanation:
For a high-context culture, the social environment or social context has more importance than the words being spoken. This means that in a high context culture, low-contex culture is not as important as the nonverbal communication, because nonverbal communication has more importance . For the high-context culture, a contract is just a beginning point for negotiations in closing the deal. Signing of the contract does not necessary means closing of the business deal. Some of the examples of high-context cultures are China, most Arab countries, Latin America, most African countries, most other Asian countries, and Italy. In reality, most cultures fall somewhere along a continuum, or sliding scale, in their perception of the importance of context (with high and low being the end points of the continuum
Negotiations between high-context and low-context cultures can face challenges due to contrasting communication styles and perceptions of time. Misunderstandings can arise due to indirect vs direct speech. Additionally, conflicting time perceptions could affect scheduling and pace of negotiations.
Explanation:In negotiations between high-context cultures like Japan or China and low-context cultures like the United States, a range of issues can arise due to contrasting communication styles and perceptions of time. In high-context cultures, communicators tend to employ more indirect speech and emphasize maintaining harmony, which can lead to misinterpretations and confusion in the more direct, task-oriented low-context cultures.
Another issue is the difference in perception of time. High-context cultures often view time as cyclical and more flexible, while low-context cultures perceive time as linear and punctual. This could cause conflicts in scheduling, deadlines, and pace of negotiations.
It is essential for businesspeople to have an understanding of these differences and to be respectful of the other culture's communication style and time perception to prevent misunderstandings and ensure successful negotiations.
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It’s time for the Bizlaw County auction! For each of the auction items listed below, you will (1) determine which type of property the item is and (2) give an identifier that further describes the nature of the item.
A. A ring Hugh received from his grandmother several months before she died.
B. A motorbike Ned got from the Harley-Davidson store for $53,000.
C. A motorless army jeep left on the plot of land Corey bought.
D. A pair of high-quality cleats that Candace found on the football field after a game.
E. A Sony Walkman that Mary left in her will for her nephew, Zeppelin.
F. The lyrics to an unpublished song that famous rapper 11 Nickels gave to his daughter when he retired.
Answer:
I have formulated the answer in the table and the table is attached in the attachment please refer to the attachment 1.
Explanation:
Please refer to the attachment 1. And here is the explanation
Inherited property is the property which is transferred to ones beloved after she/he passes away or makes a will, so statement A, E and F are inherited properties.
Purchased property are the ones that one acquires after paying certain price of the good, so B is purchased property.
Abandoned property is the goods or intangible thing left somewhere and the owner is not known, so statement C and D are abandoned properties.
Madisun Company issued common stock for proceeds of $20,000 during 2017. The company paid dividends of $5,000. The company also issued a long-term note payable for $35,000 in exchange for equipment during the year. The company sold treasury stock that had a cost of $3,000 for $9,000 Compute net cash flows from financing activities. Net cash flows from financing activities
Answer:
Net cash flows from financing activities is $24,000
Explanation:
The net cash flow of funding a company is called cash flow from financing activities. It includes the cash flows relating to equity and liabilities.
Cash flows:
Inflows
Stock proceeds = $20,000
Treasury stock proceeds = $9,000
Outflow
Dividend payment = $5,000
Net cash flows = $20,000 + $9,000 - $5,000 = $24,000
Each payment covers the interest expense plus reduces principal. Consider a 4 year loan with annual payments. The interest rate is 8%, and the principal amount is $4969. What is the annual payment? (in dollars)
Answer:
$1,500
Explanation:
In this question, we are asked to calculate annual interest payment for a loan.
We proceed as follows:
Firstly, let’s assign variables as follows; let the amount of loan is P, monthly interest rate is r and term of loan is n
P = $4,979 , r = 8% =8/100 = 0.08 and n = 4 years
The equated monthly installment is mathematically =
EMI = P *r*[(1+r)^n] /[(1+r)^n -1]
EMI = 4969*0.08*[(1+0.08)^4] / [(1+0.08)^4 - 1]
EMI = 397.52*1.36/1.36048896 - 1
EMI = 540.6272/0.36048896= $1499.71 rounded to $1500
JHC, Inc. contributed $12,000 to its pension during the past year. Pension expense for the year was $35,000. What will be the adjustment line item for pensions in JHC's indirect style statement of cash flows?
Answer:
$23,000
Explanation:
The amount to be recognized in he adjustment line item for pensions in JHC's indirect style statement of cash flows will be the difference between the opening and closing balances of the pensions payable account.
This is same as the movements in the account. Given that the expense for the year is $35,000 and the amount paid was $12,000. It means that the account balance increased by
= $35,000 - $12,000
= $23,000
This will be represented as an inflow of $23,000
During its first year of operations, the McCormick Company incurred the following manufacturing costs: Direct materials, $5 per unit, Direct labor, $3 per unit, Variable overhead, $4 per unit, and Fixed overhead, $250,000. The company produced 25,000 units, and sold 20,000 units, leaving 5,000 units in inventory at year-end. Income calculated under variable costing is determined to be $315,000. How much income is reported under absorption costing? Group of answer choices $365,000 $290,000 $315,000 $265,000 $565,000
Answer:
424000
Explanation:
Answer: Net income under absorption costing = $424000
Explanation:
Given that,
Direct materials =$4 per unit
Direct labor = $2 per unit
Variable overhead = $3 per unit
Fixed overhead = $256,000
company produced = 32,000 units
company sold = 26,500 units
inventory at year-end = 5,500 units
Income under variable costing = $380,000
Total variable cost = (Direct materials+Direct labor +Variable overhead) × units produced
= (4+2+3) × 32000
=$288000
Per unit fixed cost =
=
= $8
Fixed cost on inventory = inventory at year-end × Per unit fixed cost
= 5500 × 8
= 44000
Net income under absorption costing = Income under variable costing + Fixed cost on inventory
= 380000 + 44000
=$424000
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The following is the Easton Company's adjusted Trial Balance. Easton Company Adjusted Trial Balance December 31, 2018 Account Title Debit Credit Cash $88,665 Accounts Receivable 232,000 Supplies 17,000 Equipment 395,000 Accumulated Depreciation $224,260 Accounts Payable 72,555 Capital Stock 220,000 Retained Earnings 127,145 Service Revenue 877,105 Interest Income 5,500 Dividends 7,000 Rent Expense 59,900 Wages Expense 529,000 Supplies Expense 40,000 Utilities Expense 8,000 Depreciation Expense 150,000 ________ Totals $1,526,565 $1,526,565 Use this information to prepare the Balance Sheet for the fiscal year. There are additional lines in the formatted Balance Sheet form to allow for authorized alternate presentations.
Explanation:
Easton company income statement of 31 December
Sales revenue $877,105
Interest income $5,500
Total revenue $882,605
Less: operating expenses
Rent expense $59,900
Wage expenses $529,000
Supplies expense $ 40,000
Utilities expense $8,000
Depreciation expenses $ 150,000
Total expenses -$786,900
Net income $95,705
Therefore the retained earning ending balance is
retained earnings opening = $127,145
Current net income = $95,705
Less: Dividend = -$7,000
The Retained earnings closing = $215,850
Balance sheet of December 31,2018
Current asset
cash $88,665
accounts receivable $232,000
supplies $17,000
Total current assets $337,665
Fixed assets
Equipment = $395,000
accumulated depreciation = (224,260)
Net fixed assets $170,740
Total assets $508,405
Liabilities and shareholders equity
current liabilities
Accounts payable $72,555
common shareholders equity
Capital stock $220,000
Retained earnings $215,850
Total liabilities and equity $508,405
1. Do you believe that ERM will continue to evolve, and if so, how? 2. Do believe that risk is a two-sided coin with both upside gains and downside losses? 3. How is value measured in your organization and do you believe the ERM process can add new value? 4. Besides risk maps and value maps, what other tools and techniques are available to manage risk and make risk-informed decisions?
Answer:
Explanation:
1. Yes, I believe that ERM will continue to evolve as long as the world is evolving. In the course of recent decades, ERM has advanced from ideas and vision of how the risks ought to be routed to a technique that is getting to be dug in the present day and is currently progressively expected by those in oversight roles. As Felix Kloman depicts in his section “A Brief History of Risk Management,” distributed in Fraser and Simkins (2010), a considerable lot of the ideas return an exceptionally prolonged stretch of time and a significant number of the purported newfound procedures can be referenced to the previous works and practices portrayed by Kloman. In any case, it is just from around the mid-1990s that the idea of giving a name to overseeing dangers in an all-encompassing manner over the many working storehouses of an endeavor began to grab hold. During the 1990s, terms, for example, incorporated risk the executives and enterprise wide chance administration were likewise utilized. Many idea pioneers, for instance, the individuals who made ISO 31000, accept that the term risk the executives is all that is expected to portray great risk the board; in any case, numerous others accept that the last term is regularly used to depict chance administration at the lower dimensions of the association and does not really catch the ideas of big business level ways to deal with risk. As ERM keeps on developing there is still much exchange and perplexity over precisely what it is and how it ought to be accomplished. Realize that it is as yet advancing and may take a lot more years before it is completely systematized and polished in a reliable manner. Truth be told, there is a grave peril now of accepting that there is just a single method for doing ERM. This is most likely an error by controllers who have too anxiously held onto a portion of these ideas and are attempting to force them when the strategies are not completely comprehended, and now and again the necessities are probably not going to deliver the ideal outcomes.
2. Indeed. The connection among return and risk resembles the different sides of a coin: the upside to a cave man of effectively chasing a mammoth is that he may nourish his family for a month (i.e., the arrival), or he may get trampled by his potential prey (i.e., the risk). He could choose to concentrate on getting hares rather (i.e., littler returns), with impressively diminished danger of getting destroyed by such a prey. The higher the arrival, the more noteworthy the risk, while lower returns accompany less risk in a continuum that money hypothesis names as the proficient boondocks. There might be an intriguing parallel with going out on a limb, basic leadership, guideline and the financial framework. The primary role of a bank, one could contend, is risk intermediation. Pre-emergency, stacking up with risk (and influence) was “something to be thankful for” that produced out-sized returns for banks, investors and obviously for the financiers themselves. Guideline presently shapes practically every part of movement in a bank. While at the extreme as a division, brokers are conviction not the only one in confronting developing examination.
3. Most companies focus around high metrics that measure advance toward accomplishing an company’s vision, mission, and values. Likewise, we need to make sure to quantify the significant results of long-term company achievement instead of just estimating what is anything but difficult to gauge. Our measures ought to have the option to be evaluated as far as quantity, quality, time, and cost. They likewise place that there are 4 basic key achievement measures and one aux measure that are all of incredible worth. The 4 fundamental key measures are: 1. Financial viability. Ex: profits. 2. Customer fulfillment. Ex: performance on consumer loyalty overviews. 3. Employee fulfillment. Ex: performance on employee fulfillment overviews. 4. Contribution to society. Ex: number of trees spared by creating paperless procedures. The one aux measure is: 5) Key operational outcomes. Ec: percent of hotel rooms were occupied.
4. The Risk Informed Decision making can be expanded in to sequence of six process steps.1. Identification of Alternatives: Understanding the stakeholder expectations and derive the performance measures Compile the feasible alternatives2. Risk Analysis of Alternatives Set the Framework and Choose the Analysis Methodologies Conduct the Risk Analysis and Document the Results3. Risk-Informed Alternative Selection Develop Risk-Normalized Performance Commitments Deliberate, Select an Alternative, and document the decision rationalesUsing risk to inform decisions involves three distinct components . These components, each having their own purpose and function, are: Risk analysis Risk assessment Risk management The tools and techniques used for managing and make RIDM.
Corona Company is owned equally by Maria, her sister Carlita, her mother Gabriella, and her grandmother Olivia, each of whom hold 100 shares in the company. Under the family attribution rules, how many shares of Corona stock is Maria deemed to own?A. 100B. 200C. 300D. 400
Answer:
B. 200 shares
Explanation:
Under the family attribution rules, attribution is applies who owns more than 50% percentage
Since in the question the percentage is not given but in the company each one has equal owning percentage plus there holding 100 shares in the company each
So in the given case the maria deemed to own her share plus her mother share also as she is the owner of her mother share
So, the total shares owned by her is
= 100 shares + 100 shares
= 200 shares
Eight-year-old Ella can use scissors to cut small paper dolls out of craft paper, something she could not do at age three. What best accounts for her improving dexterity?
Answer: Increased myelination of the central nervous system
Explanation: skill in performing tasks, especially with the hands is what is known as dexterity. According to the question Eight-year-old Ella can use scissors to cut small paper dolls out of craft paper, something she could not do at age three was due to her Increased myelination of the central nervous system. Her dexterity has improved, Myelin has enabled her nerve cells to transmit information faster and allows for more complex brain processes
Final answer:
Ella's improved dexterity in using scissors to cut out small paper dolls since the age of three is attributed to the continued development of her fine motor skills. As children grow older, they engage in activities that refine these skills, such as drawing and using eating utensils, which enhance their ability to coordinate their hands and fingers more precisely.
Explanation:
At the age of three, children are exiting the toddler stage and are developing skills that allow them to handle small objects, such as doing simple puzzles or copying a circle. As children grow, their fine motor skills continue to improve, which involves the coordination of small muscles in movements—usually involving the synchronization of hands and fingers—with the eyes. The improved dexterity that enables Ella, who is now eight years old, to use scissors to cut out small paper dolls is a result of this continued development and refinement of fine motor skills. The ability to cut with scissors involves various fine motor skills like hand-eye coordination, bilateral coordination, and the ability to manipulate the scissors and paper with precision. These skills generally improve with age and practice, as the child engages in activities that promote fine motor skills development, such as drawing, coloring, or completing more complex puzzles. Mastering tasks such as cutting figures from craft paper is indicative of a significant level of fine motor skill proficiency, which comes with maturation and can be supported by engaging in various activities or songs that encourage the development of these abilities. By five years of age, children can typically demonstrate good control with a pencil and use scissors to cut on a line. As they reach middle childhood, activities such as pouring water into a container, properly managing a spoon and fork, and dressing oneself become easier as their fine motor skills become more advanced. This natural progression explains Ella's improvement in dexterity by the age of eight when compared to her abilities at age three.
Kyler Shea Productions held investments in equity securities (in Essence Company) with a fair value of $ 60 comma 000 at December 31, 2018. These investments cost Kyler Shea Productions $ 55 comma 000 on January 1, 2018. What is the appropriate amount for Kyler Shea Productions to report for these investments on the December 31, 2018, balance sheet? (Assume that Kyler Shea has insignificant influence over Essence Company.)
Answer:
The fair value of $ 60 comma 000
Explanation:
Although under US GAAP, the basic accounting principle is historical cost principle in which original cost of purchasing assets are used to record most assets, especially fixed assets, despite that there might have been significant rise in their value over time.
However, not all assets are recorded at their historical cost. Financial assets which are intangible such as market securities are recorded in the balance sheet at their fair value. Intangible assets which have impaired are reduced their fair value from the historical cost.
Since investments in equity securities (in Essence Company) by Kyler Shea Productions is an intangible marketable security, the appropriate amount for Kyler Shea Productions to report for these investments on the December 31, 2018 in the balance sheet is fair value of $ 60 comma 000.
1. On April 5, purchased merchandise on account from Sheffield Company for $44,600, terms 2/10, net/30, FOB shipping point.
2. On April 6, paid freight costs of $890 on merchandise purchased from Sheffield.
3. On April 7, purchased equipment on account for $44,400.
4. On April 8, returned damaged merchandise to Sheffield Company and was granted a $5,700 credit for returned merchandise.
5. On April 15, paid the amount due to Sheffield Company in full.
Required:
Prepare the journal entries to record these transactions on the books of Kerber Co. under a perpetual inventory system.
Answer:
The Journal entries are as follows:
(1) On April 5,
Merchandise Inventory A/c Dr. $44,600
To Accounts Payable $44,600
(To record the merchandise purchase on account)
(2) On April 6,
Merchandise Inventory A/c Dr. $890
To cash A/c $890
(To record the payment of freight)
(3) On April 7,
Equipment A/c Dr. $44,400
To accounts payable $44,400
(To record the purchasing of equipment)
(4) On April 8,
Accounts Payable A/c Dr. $5,700
To Merchandise Inventory $5,700
(To record the damaged merchandise)
(5) On April 15,
Accounts Payable A/c Dr. $38,900
To Merchandise Inventory $778
To cash $38,122
(To record the payment of due amount)
Workings:
Accounts Payable = $44,600 - $5,700
= $38,900
Merchandise Inventory = 2% of $38,900
= $778
The following two errors were made in the physical inventory counts: 1. 2012 ending inventory was overstated by $33,000. 2. 2013 ending inventory was understated by $28,000. Compute the correct cost of goods sold for both 2012 and 2013.
Answer:
2013: $490,000 2012: $561,000
Question:
Errors in inventory count the following information was taken from the record of Spencer Enterprises
2013 2012
Beginning Inventory $63,000 $83,000
Cost of goods purchased $548,000 $508,000
Cost of goods available for sale $611,000 $591,000
Ending inventory $93,000 $63,000
Cost of goods sold $518,000 $528,000
The following two errors were made in the physical inventory counts:
1. 2012 ending inventory was overstated by $33,000
2. 2013 ending inventory was understated by $28,000.
Compute the correct cost of goods sold for both 2012 and 2013.
Explanation:
Computation of cost of goods sold for the year 2016 and 2015
Particulars 2013 2012
Beginning inventory $63,000 $83,000
Cost of goods purchased $548,000 $508,000
Cost of goods available for sale $611,000 $591,000
Ending inventory (corrected) $121,000 $30,000
Cost of goods sold (corrected) $490,000 $561,000.
note:
In 2013 new ending inventory = $93,000 + $28,000 = $121,000
In 2012 new ending inventory = $63,000 - $33,000 = $30,000
Beginning inventory + Cost of goods purchased = Cost of goods available for sale
Cost of goods available for sale - Ending inventory = Cost of goods sold
call option exists on British pounds with an exercise price of $1.60, a 90-day expiration date, and a premium of $.03 per unit. A put option exists on British pounds with an exercise price of $1.60, a 90-day expiration date, and a premium of $.02 per unit. You plan to purchase options to cover your future receivables of 700,000 pounds in 90 days. You will exercise the option in 90 days (if at all). You expect the spot rate of the pound to be $1.57 in 90 days. Determine the amount of dollars to be received, after deducting payment for the option premium.
Solution:
The amount of dollars to be received, after the deduction of payment for the option premium is calculated as follows:
= ( Exercise price subtract Option premium ) multiply with the amount that is receivable
As per the given data,
Exercise price = $1.60, Option premium = 0.02, Amount which is receivable = 700000 pounds, expiration date = 90-days
Putting these figures in formula, we get,
= [tex](\$ 1.60-\$ 0.02) * 700000[/tex] pounds = $1106000.
Therefore, the amount that will be received will be $1106000
Eliza took her car to her regular mechanic, who had a private business. The mechanic often advertised on billboards, writing "Reliable fixes
and low costs" and "The cheapest prices." After getting her engine checked, she incurred over $2,000 in costs. Out of curiosity, she went to
a competing private firm that also fixed cars, and the private firm said that she paid significantly more to her mechanic than the costs of both
the parts and labor. Eliza sued her mechanic, alleging that she had been misled by her mechanics advertisements. The court applied the
Central Hudson test, and found the mechanic’s advertisements were misleading. The mechanic argued that pursuant to his first amendment
rights, his speech was protected, especially because they were generalizations that should not have been taken literally. The court ruled in
favor of Eliza, ordering the mechanic to pay Eliza for damages and to take the advertisements down.
But what if the facts of the case were different? Select the appropriate set of facts below that would change the outcome of the case.
a) The court found that the advertisements were not inherently misleading. However, it did find that regulating the advertisement in question
was more extensive than necessary to protect the public interest.
b) The court found that the advertising in question constituted commercial speech.
c) The court found that the advertisements in question did not advance the state’s interest.
d) The court finds that the speech in the advertisements is not misleading, but that the state’s interest would be advanced if the advertising in question were restricted
Answer: a) The court found that the advertisements were not inherently misleading. However, it did find that regulating the advertisement in question was more extensive than necessary to protect the public interest.
Explanation: An advertisement is a notice or action promoting a product or service and soliciting patronage.
When there is no regulation of an advert, abuse is expected. Protecting the public interest is important as advertisement may be misleading if there are no extensive rules.
In a situation whereby the mechanics advertisement was found not to be inherently misleading, a different verdict may have been given.
Answer:
a) The court found that the advertisements were not inherently misleading. However, it did find that regulating the advertisement in question was more extensive than necessary to protect the public interest.
Explanation:
The circumstances seemed distinct and by endorsing Eliza the court handed down a decision. However it is up to consumers to continue with ads or otherwise, which relies on their conscience.
Because while the purpose of an advertisement would be to make the people and encourage individuals to view it or listening to it.
This doesn't mean that everything in the image is honest and truthful and most of the time it's generic statements or vague generalizations.
In this respect, I assume that the important set of circumstances is: the court found that the ads were not intrinsically deceptive.
Nevertheless, it did find that the advertising in question was limited.
Grady, Renate, and Blake must divide a green shirt, a red shirt, and a blue shirt. They assign points to each item as follows: Gary: green shirt 60, red shirt 20, blue shirt 20 Renate: green shirt 30, red shirt 60, blue shirt 10 Blake: green shirt 10, red shirt 20, blue shirt 70. Which of the following splits is efficient? a.Gary gets the red shirt; Renate gets the blue shirt; Blake gets the green shirt. b.Renate gets all three shirts c.Gary gets the green shirt; Renate gets the blue shirt; Blake gets the red shirt. d.Renate gets the red and blue shirts; Blake gets the green shirt. e.None of these splits are efficient.
Answer: E.None of these splits are efficient.
Explanation:
From the above question,
1. Gary: green shirt 60, red shirt 20, blue shirt 20
2. Renate: green shirt 30, red shirt 60, blue shirt 10
3. Blake: green shirt 10, red shirt 20, blue shirt 70
From the above split, we can say that each should get the highest no of shirt assigned to them but the total number of shirts was not stated in the question to aid our sharing of the shirts efficiently.
Final answer:
The efficient split of shirts among Grady, Renate, and Blake is found in option c, where each person receives their most valued shirt, maximizing overall satisfaction without any compromise.
Explanation:
The question revolves around finding an efficient split of shirts among Grady, Renate, and Blake, based on the points they assign to each shirt. The points indicate their preferences, and an efficient split would ensure the highest satisfaction for all with no wastage or redundancy.
By examining the preferences provided: Grady values the green shirt most (60 points), Renate values the red shirt most (60 points), and Blake values the blue shirt most (70 points). Thus, the efficient split is:
Grady gets the green shirt
Renate gets the red shirt
Blake gets the blue shirt
This matches option c, making this the efficient split. This scenario ensures that each person gets their most preferred shirt, maximizing overall utility without any compromise required from any party.
Jupiter Explorers has $7,800 in sales. The profit margin is 4 percent. There are 6,100 shares of stock outstanding, with a price of $1.80 per share. What is the company's price–earnings ratio?
Answer:
The company's price–earnings ratio is 36.
Explanation:
Price earning ratio is the ratio of market value of share to earning per share. It shows that how much investors are willing to pay for each dollar of earning of the company.
Profit margin = Net income / sales
0.04 = Net Income / $7800
Net Income = $7800 x 0.04 = $312
Earning Per share = Net Income / number of outstanding shares
Earning Per share = $312 / 6,100 = $0.05
Price earning ratio = Market price of share / Earning per share
Price earning ratio = $1.8 / $0.05 = 36
The company Jupiter Explorers has a price-earnings ratio of approximately 35.18, calculated by dividing the stock price ($1.80) by the earnings per share ($0.051147), which is derived from the earnings before tax ($312).
To calculate the price-earnings ratio for Jupiter Explorers, you first need to determine the company's earnings before tax (EBT). As Jupiter Explorers has $7,800 in sales with a profit margin of 4 percent, this implies the EBT is $7,800 * 0.04 = $312.
Next, divide the EBT by the number of outstanding shares. Jupiter Explorers has 6,100 shares outstanding, so the earnings per share (EPS) would be $312 / 6,100 = $0.051147. Finally, you divide the stock price ($1.80) by the EPS to get the price-earnings ratio. So, the price-earnings ratio is $1.80 / $0.051147 = approximately 35.18.
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Jack and Tracy would like to have $10,000 for a down payment on a new condo. A savings account at their local credit union will pay 2% per year compounded monthly. How much should they deposit now in this account to have the down payment in 3 years
Answer:
They should deposit $4,9,02 in the account.
Explanation:
Present value is the value of future cash flow in present term. The amount received in future have more value today than in future because of opportunity of reinvestment of cash flow.
Number of periods = 3 x 12 = 36 months
Present value = Future value / ( 1 + r )^n
Present value = $10,000 / ( 1 + 0.02 )^36
Present value = $10,000 / 2.04
Present value = $4,902.23 = $4,902
Testing is used by many companies during the recruitment process. Tests could include aptitude, psychological, personality, integrity, and drug testing, to name a few. From the viewpoint of the employer, discuss the pros and cons of 4 types of tests that are used.
Personality test is an assessment that provides insight into important but intangible information about candidates such as personality, values, and work preferences.
Explanation:Pros of Personality Testing :
1, Knowing the unique information personality tests provide can help hiring managers to assess a candidate’s fit into the computer any culture.
2. Personality tests allow hiring managers to better understand how to keep individual employees engaged and motivated at work.
3. Well-designed, standardized assessments allow an organization to improve its legal defensibility by providing a fairer method of candidate comparison.
4.Personality tests can reduce the chance of putting the wrong person in the wrong role (a mistake that can be costly)
The cons of personality test:
1.Time: Personality tests can be time-consuming, which may lead to job candidate frustration or even loss to other companies.
2.Money: Personality tests can be costly to administer.
3.Accuracy: While useful for gaining behavioral insight, personality tests are not always the best indicators of how successful an individual will be in a job
4.Reliability: Candidates often answer personality tests by choosing answers they believe employers want to hear. This can make test results difficult to interpret or even invalid.
Hancock Machining manufactures A, B, and C, all of which are joint products, and D, which is classified as a by-product. If joint manufacturing costs amount to $450,000 and the company is using a popular accounting method, the firm will:a. allocate $450,000 among A, B, and C.b. allocate $450,000 among A, B, C, and D.c. increase $450,000 by the net realizable value of D and then allocate the total among A, B, and C.d. decrease $450,000 by the net realizable value of D and then allocate the total among A, B, and C.
Answer: D
Explanation:
decrease $450,000 by the net realizable value of D and then allocate the total among A, B, and C
Courington Detailing's cost formula for its materials and supplies is $2,060 per month plus $12 per vehicle. For the month of August, the company planned for activity of 86 vehicles, but the actual level of activity was 46 vehicles. The actual materials and supplies for the month was $2,350. The materials and supplies in the planning budget for August would be closest to______________.
Explanation:
The material and supplies in the planning budget is
Planning Budget Actual
Materials $2,060 $2,350
Vehicles $1,032 $552
$3,092 $2,902
The vehicles for planning budget is
= 86 vehicles × $12
= $1,032
And, for the actual budget it is
= 46 vehicles × $12
= $552