Answer:
1a. The price of the bonds at 12% yield is $43,326,388.60
1b. The journal entries to record the issuance are as follows:
Dr Cash $43,326,388.60
Dr Discount on the bond $7,673,611.40
Cr Bonds payable $51,000,000
2aAt the market rate of 9% bonds issue price is $55,692,404.03
2b.Journal entries when market rate is 9%
Dr Cash $55,692,404.03
Cr Premium on the bond $4,692,404.03
Cr Bonds payable $51,000,000.00
3.The journal entries if Broadcourt Electronics purchashed the entire issue as shown in 2 above
Dr Premium on the bonds $4,692,404.03
Dr Investment in bonds $51,000,000.00
Cr Cash $55,692,404.03
Explanation:
Find attached.
The bond's issue price depends on the market yield at that time. Journal entries at issuance debit Cash and credit Bonds Payable. When purchased by a company, it debits Investments and credits Cash.
Explanation:Firstly, we need to compute the price of the bond. The price at issue is the present value of the future cash flows, which are interest payments of ($51 million * 10%)/2 = $2.55M every six months for 40 periods (20 years * 2) and the face value of $51M at the end of the 20 years. Using the semi-annual market yield of 12%/2 = 6% (1-a) or 9%/2 = 4.5% (2-a), the present values of the cash flows can be calculated. Journal entries would consist of debiting 'Cash' and crediting 'Bonds Payable' for the issue price (1-b and 2-b).
For instance Broadcourt Electronics, the entry would debit 'Investments' and credit 'Cash' for the calculated price of the bonds (3).
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Proofreading is an important phase of the writing process. Careful proofreaders check for errors in spelling, grammar, punctuation, names, numbers, and formatting. When checking spelling, do not rely too heavily on your computer’s spell checker. This selection contains one spelling error and one comma error. This selection is correct without any revisions. This selection contains one spelling error and two comma errors.
Answer:
Reading the following sentence, and to identify any mistakes “Proofreading is an important phase of the writing process. Careful proofreaders check for errors in spelling, grammar, punctuation, names, numbers, and formatting. When checking spelling, do not rely too heavily on your computer’s spell checker”
This sentence is correct without any revisions.
The above section doesn't contain any spelling and comma mistakes. The spelling of the considerable number of words are right and utilization of comma accentuation is proper.
Suppose that Mr. Green Jeans sells $5,000 of wheat to Big Ben Bakery. Big Ben uses the wheat to make flour and then hamburger buns, which it sells to Hamburger Heaven for $11,000. Hamburger Heaven also buys $20,000 of beef from a rancher. Hamburger Heaven uses the beef and buns to make 10,000 hamburgers, which are sold for $5 each. How much do these transactions add to GDP?
Answer:
$50,000
Explanation:
Data given in the question
Number of wheat sold to Big Ben Bakery = $5,000
Number of hamburger buns sold to Hamburger heaven = $11,000
Buys of beef = $20,000
Number of hamburgers used = 10,000
Selling price for each hamburger = $5
So by considering the above information, the GDP amounted to
= Number of hamburgers used × Selling price for each hamburger
= 10,000 × $
= $50,000
As GDP refers to the value of final goods and services that are to be produced.
Free rider problems are everywhere. For example, some restaurants let each food server keep his or her own tips. Other restaurants require all of the food servers to put their tips into a tip pool, which then gets divided up equally among all of the servers. Let’s think about how the tip pool changes the server’s incentive to be nice to the customer.
a. Let’s assume that a server can be "nice" and earn $100 in tips per shift, or be "mean" and earn $40 in tips per shift. If an individual server goes from being mean to being nice, how much more will he or she earn in a non-tip-pooling world?
Gains from being "nice": $ -----------------------
b. Now let’s look at incentives in a tip pool. If all the servers are mean, how much will the average server earn? If all the servers are nice, how much will the average server earn?
Average mean server earnings:$ ----------------
Average nice server earnings: $ ----------------
What’s the change in tips per server if all of them switch from being mean to being nice?
Change in tips per server: $ --------------
c. But in the real world, of course, each server makes his or her own decision to be mean or nice. Suppose that you are on a shift with 9 other servers, and some servers are being nice and others are being mean. You’re trying to decide whether to be nice or mean. What’s the payoff to you if you switch your behavior from mean to nice?
Individual payout of becoming nice: $ ---------------
d. So when are you most likely to be nice: When you’re in a tip pool or when you keep your own tips?
1-You are more likely to be nice when you keep your own tips.
2-You are equally likely to be nice in either tip arrangement.
3-You are more likely to be nice in a tip pool.
If the restaurant cares a lot about keeping its customers happy, which policy will it follow?
1-The restaurant will use a tip pool.
2-The restaurant will let servers keep their own tips.
3-The restaurant is indifferent between the two tip arrangements because it generates the same likelihood of servers being friendly.
Answer:
Check the explanation
Explanation:
a. Gains from being nice = $60
reason: outcome for being nice = $100; outcome for being mean = $40 So the gains from being nice = 100 - 40 = 60
b. Average mean server earnings = $40 (given)
Average nice server earnings = $ 100 (given)
Change in tips per server if all of the servers switch from being mean to being nice = $60 (100 - 40)
c. Individual payoff of my becoming nice = $6
reason: Total number of servers = 10
Change to the tip pool with my change in behavior from mean to nice = $60
My share in this change = 60/ 10 =6
d. 1-I am more likely to be nice when I keep my own tips.
reason: I can keep $100 if I am nice. But in a tip pool, some of the others may be mean. This will bring the pool amount lower, thereby my share may be less than $100. So I prefer to keep my own tips.
In a non-tip-pooling scenario, a server will gain $60 from being 'nice'. In a tip pooling scenario, a server is likely to earn less from being 'nice' unless all servers adopt friendly behavior. As a server, you are more likely to be nice when you keep your own tips, a policy a customer-centric restaurant is likely to adopt.
Explanation:For the first part of the question, if a server can be 'nice' and earn $100 in tips per shift, or be 'mean' and earn $40 in tips per shift, then the gain from being 'nice' in a non-tip-pooling world will be $60 ($100 - $40).
In a tip pool scenario, if all the servers are mean and earn $40, this is the amount the average server will earn. If all the servers are nice, they will collectively earn $1000 (10 servers x $100) which is then divided equally among all servers, leading to an average earning of $100 per server. The change in tips per server if all of them switch from being mean to being nice will therefore be $60. However, if you're deciding whether to be 'nice' or 'mean', in a shared scenario, your behavior gain from being 'nice' will depend on the collective behavior of the other servers, since earnings are divided equally. The payoff could be less than $60 if not all servers opt to be 'nice'.
As for the question of when you are most likely to be nice, you are more likely to be nice when you keep your own tips. This is because the incentives for being nice in a pooled-tip scenario are less if not all servers demonstrate nice behavior. If a restaurant values customer satisfaction highly, it's likely to let servers keep their own tips to incentivize friendly service.
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Tranquility Care provides home healthcare services at an average price of $70 per hour and incurs variable costs of $45 per hour. Assume average fixed costs are $3,600 a month. (Round your answer to the nearest whole unit.) 1. What is the number of hours that must be billed to reach the breakeven point? 2. If the company desires to make a profit of $2,000, how many hours must be completed? 3. The company thinks it can reduce fixed costs to $3,400, but variable cost will increase to $48 per hour. The price per unit will not change. What is the new breakeven point in hours?
Answer:
Instructions are listed below.
Explanation:
Giving the following information:
Selling price= $70 per hour
Unitary variable cost= $45 per hour.
The average fixed costs= $3,600 a month.
First, we need to calculate the break-even point in hours:
Break-even point= fixed costs/ contribution margin
Break-even point= 3,600 / (70 - 45)= 144 hours
Now, we must include the desired profit to the break-even formula:
Break-even point= (fixed costs + desired profit)/ contribution margin
Break-even point= (3,600 + 2,000) / 25= 224 hours
Finally, we recalculate the break-even point with the new changes:
Break-even point= 3,400/ (70 - 48)= 175 hours
Alex, Brad, and Carl are partners. The profit sharing rule between them is 3:2:3 in alphabetical order. The partnership incurs a net loss of $ 110 comma 000. The journal entry to close Income Summary will include a _______. (Do not round any intermediate calculations.)
Answer:
Alex, Capital account will have a debit balance of $41,250
Explanation:
Partnerships are formed between individuals that come together and pool their resources together to achieve a common goal. They agree to share profits and losses of a business enterprise.
In this case profit sharing is done in a 3:2:3 order.
So for Alex his share of the $110,000 loss will be
Alex's share= (3/3+2+3)*110,000
Alex's share= (3/8)*110,000
Alex's share= $41,250
So this amount will be submitted from Alex's capital account
Final answer:
Alex, Brad, and Carl's capital accounts will be debited for their share of the partnership's $110,000 loss based on the profit-sharing ratio of 3:2:3. The journal entry will include a debit to Income Summary for the full loss and credits to each partner's capital account for their calculated share.
Explanation:
When a partnership incurs a net loss, such as the $110,000 loss described, each partner's capital account must be debited with their share of the loss according to the agreed-upon profit-sharing ratio. In the case of Alex, Brad, and Carl, the profit-sharing ratio is 3:2:3, respectively. To calculate each partner's share of the loss, you would allocate the total loss proportionally.
For Alex and Carl (3/8 of the loss each):
(3/8 of $110,000) = $41,250
For Brad (2/8 of the loss):
(2/8 of $110,000) = $27,500
The journal entry to close Income Summary will include a debit to the Income Summary account for the full amount of the loss, $110,000, and credits to Alex's, Brad's, and Carl's capital accounts for their respective shares of the loss. Thus, the journal entry will look like this:
Debit Income Summary $110,000Credit Alex's Capital $41,250Credit Brad's Capital $27,500Credit Carl's Capital $41,250
A computer equipment was acquired at the beginning of the year at a cost of $56,000 with an estimated residual value of $5,000, and an estimated useful life of 5 years. Determine the second year's depreciation expense using the straight-line method.
Answer:
The second year's depreciation expense using the straight-line method is $10,200
Explanation:
Depreciation is the systematic allocation of the cost of an asset to the income statement based on the estimated useful life of the asset.
Depreciation = (cost - salvage value)/estimated useful life
where the salvage value is the estimate of the amount that will be received from the disposal of the asset after its useful life.
Annual depreciation
= ($56,000 - $5,000)/5
= $10,200
Answer:
$10,200
Explanation:
Deprecation is way of expensing the cost of an asset.
Deprecation expense using the straight line depreciation method =( Cost of asset - residual value) / useful life
($56,000 - $5,000) / 5 = $10,200
The depreciation expense each year is $10,200.
I hope my answer helps you
Diego, age 28, married Dolores, age 27, in 2017. Their salaries for the year amounted to $88,750 and they had interest income of $2,660. Diego and Dolores' deductions for adjusted gross income amounted to $5,170; their itemized deductions were $8,425; they claimed two exemptions on their return; and, they filed a joint return.
Table for the standard deduction
Filing Status 2017 Standard Deduction
Single $ 6,350
Married, filing jointly 12,700
Married, filing separately 6,350
Head of household 9,350
Qualifying widow(er) 12,700
a. What is the amount of their adjusted gross income?
b. In order to minimize taxable income, Diego and Dolores will in the amount of___ $.
c. What is the amount of their taxable income?
d. What is their tax liability for 2017?
Answer and Explanation:
a. What is the amount of their adjusted gross income?
Adjusted Gross Income ( AGI ) = $88,750 + $2,660 - $5,170
= $86,240
Adjusted Gross Income ( AGI ) = $86,240
b. In order to minimize taxable income, Diego and Dolores will in the amount of
From the above box, Here Diego, Dolores both are married so, Standard Deduction in 2017 is $12,700
In order to minimize taxable income, Diego and Dolores will in the amount of $12,700
c. What is the amount of their taxable income?
Taxable income = AGI - Standard deduction - exemptions
= $86,240 - 12,700 - [ 2 * $4,050 ]
= 73,540 - 8,100
= $65,440
Taxable income = $65,440
d. What is their tax liability for 2017?
from Tax bracket for married filling jointly in 2017 table.
Tax liability = [ 18,650 * 10% ] + [ 15% [ 65,440 - 18,650 ] ]
= 1,865 + [ 15% * 46,790 ]
= 1,865 + 7,018.5
= $8,883.5
Tax liability = $8,883.5
As technology grows, so does its uses. Companies are finding ways to let their employees manage various parts of their job without needing a full-time employee. One way this is done is with web-based self-service applications. Discuss new ways for employees to use Web-based self-service applications in their companies that will help save time and money. Describe not only the applications and how they work, but how they can save the company money and time. Be sure to include disadvantages to the process from the point of view of the employee.
Web-based self-service applications are types of applications that allow employees to access certain tasks of a company online, without having to interact with a representative of this company. Most of these websites offer support and immediate access to information.
This saves time and money, because the representative who would normally have to facilitate this work is no longer necessary. Moreover, because this is found online, it is likely that these applications can be accessed 24/7, which means that they also save time.
However, there are some disadvantages for employees too. For example, employees usually need to provide a lot of personal information in order to gain access to such application. Moreover, if they are confused about a particular aspect of it, it can be difficult to get personal help or support.
Terri works at Timmy's Toy Factory on the assembly line. She has been designated as "Assistant Manager." The majority of her time is spent demonstrating how to assemble the toys to the new employees on the line. In addition, she spends about 5% of her time processing paperwork for the Manager of the line. Terri often works more than 40 hours a week to keep up with all her duties, but because she is an assistant manager, she is not paid overtime. Which of the following statements is true? Select one: a. Terri's pay is not consistent with the FLSA because she is a non-exempt employee. b. Terri should be paid overtime according to the FLSA because she is an exempt employee. c. Terri's pay is consistent with the FLSA because she is a salaried worker. d. Terri should be given compensatory time off but not overtime because she is a salaried worker.
Terri's classification as an exempt or non-exempt employee under the FLSA will determine her eligibility for overtime pay. Since her job involves training and managerial paperwork, she could potentially meet the criteria for exempt status but more details about her role would be needed to make a clear determination.
Explanation:The question concerns whether Terri should be paid overtime according to the Fair Labor Standards Act (FLSA). If Terri is classified as an exempt employee, she may not be eligible for overtime pay. The FLSA defines exempt status based on job duties, salary level, and salary basis. Given that Terri spends most of her time demonstrating to new employees which is a form of training and a small portion of her time completing managerial paperwork, it could argue for her exempt status. This would include duties such as supervising other employees, having input in the hiring process, and having managerial responsibilities. Since the information provided does not specify Terri's full range of duties or her level of decision-making authority, it's not clear whether she meets the criteria for exempt status under the FLSA. If she is non-exempt, she should be paid for any hours worked over 40 in a workweek. The most accurate answer based on the given information, though subject to further specification of Terri's role, might be that her pay could potentially be consistent with the FLSA if she meets the criteria for an exempt employee.
Your firm has been a leader in several lines of fast-moving consumer goods. The firm has been following a localization strategy. Your products have been distributed in a number of foreign markets and regions, and they are distinct enough in local markets to respond to national tastes and preferences. Competition, however, has become more intense, with many competitors using lower cost structures to undercut your prices and still satisfy your customers. The firm must decide what kind of strategy it needs to follow to meet the demands of the local markets as well as the increased competitive pressures on cost.
a. Pressures for local responsiveness may make it difficult to leverage skills and products associated with a firm's core competencies from one country to another.
b. Localization strategy is the most appropriate strategy when there are substantial differences across nations with regard to consumer tastes and preferences, and where cost pressures are not too intense.
c. Transnational strategy is the most appropriate strategy when the firm simultaneously faces strong pressures for both cost reductions and local responsiveness.
d. A firm facing low pressures for local responsiveness and few pressures to contain costs might best pursue a(n) international strategy.
e. Markets are dynamic, and any firm will face competition. In time, international and localization strategies tend to become less viable, and managers need to orient their companies toward either a global standardization or transnational strategy.
The Strategy the firm will adopt is - (d )A firm facing low pressures for local responsiveness and few pressures to contain costs might best pursue a(n) international strategy.
Explanation:
Firms that pursue global standardization strategy basically focuses on increasing their profitability and profit growth by reaping the cost reductions benefits that come from economies of scale and location economies(i.e. their strategic goal is to pursue a low-cost strategy on a global scale)
There are three main international strategies namely
(1) multidomestic
(2) global,
(3) transnational
Considering the increased cost pressures and competition faced by your firm, a transnational strategy allows for global cost-effectiveness while simultaneously catering to local market demands. This blends the benefits of the firm's previous localization strategy with a global standardization strategy, effectively meeting local demands and cost-efficiency requirements.
Explanation:In light of the increased competition and cost reduction pressures your firm faces along with the need to cater to local tastes and preferences, a transnational strategy seems most appropriate. A transnational strategy enables firms to operate globally with cost effectiveness and locally with responsiveness to consumer needs. It amalgamates the benefits of localization, which has been your firm's previous approach, and global standardization strategy, forming a hybrid strategy that concurrently meets local specificities and cost-efficiency requirements.
A prime example of successful adoption of transnational strategy is Nestle, which has effectively maintained cost-efficiency by leveraging scale across their global operation, whilst attuning their product offerings to local consumer preferences across different geographies.Core competencies and skills of the firm can be leveraged to accommodate both global scale economies and local distinctiveness. The implementation of a transnational strategy, however, requires keen managerial acumen to balance and synergize global effectiveness and local responsiveness.
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During Year 1, Ashkar Company ordered a machine on January 1 at an invoice price of $24,000. On the date of delivery, January 2, the company paid $8,000 on the machine, with the balance on credit at 9 percent interest due in six months. On January 3, it paid $700 for freight on the machine. On January 5, Ashkar paid installation costs relating to the machine amounting to $2,500. On July 1, the company paid the balance due on the machine plus the interest. On December 31 (the end of the accounting period), Ashkar recorded depreciation on the machine using the straight-line method with an estimated useful life of 10 years and an estimated residual value of $3,200.
Required (round all amounts to the nearest dollar):
1. Indicate the effects (accounts, amounts, and + or -) of each transaction (on January 1, 2, 3, and 5 and July 1) on the
accounting equation. Use the following schedule:
Date Assets = Liabilities + Stockholders' Equity
2. Compute the acquisition cost of the machine.
3. Compute the depreciation expense to be reported for 2013.
4. What impact does the interest paid on the 10 percent note have on the cost of the machine? Under what circumstances can interest expense be included in acquisition cost?
5. What would be the net book value of the machine at the end of 2014?
Answer: Please refer to the explanation section
Explanation:
Date Asset = Liabilities + stockholder's Equity
1 January Machine 24000+ = Payable(liability) 24000+
2 January Bank 8000 - = Payable (Liability) 8000 -
*3 January Machine (freight cost) 700 +
Bank 700 -
*5 January Machine (Installation cost) 2500 +
Bank 2500 -
**1 July Bank 17440 - = Payable 17440 -
*freight cost and installation costs are capitalised to the cost of machinery. both freight costs and installation costs affect Machinery account and Bank Account. Machinery and Bank are assets therefore these transactions only affect the asset side of the equation
** amount payable + interest = (24000 - 8000) x 1.09 = 16000 x 1.09 = 17440
2. acquisition costs
Freight costs and installation costs are added (capitalised) to the costs of acquisition because they are costs necessary in delivering the asset to the clients premises and preparing the asset of its intended use
Cost Acquisition = 24000 + 700 + 2500 = 27200
Cost of the machinery = $ 27200
3. Effect of interest on cost of Machinery
The interest paid on the Balance payable has no effect on the cost of the machinery. interest paid only affects cost of the asset when it is capitalised. interest is capitalised when the company borrows funds to finance the construction of a long term asset or acquisition of a long term asset
4. Depreciation for 2013.
Depreciation = (Total cost of Machine - residual Value)/ useful life
depreciation = (27200 - 3200 = 24000)/10 = 2400
5. Book Value = Cost - Accumulated depreciation
Accumulated depreciation = depreciation 2013 + depreciation 2014
Accumulated depreciation = 2400 + 2400 = 4800
Book Value = 27200 - 4800 = 22400
1. Effects on Accounting Equation: +$16,720 Accounts Payable, 2. Acquisition Cost: $12,800. 3. Depreciation Expense: $1,060.4. Impact of Interest: Interest paid does not affect. 5. Net Book Value at 2014: $10,680.
Explanation:1. Effects on Accounting Equation:
Jan 1: +$24,000 Machine (Assets) = +$24,000 Accounts Payable (Liabilities) +$0 (Equity)Jan 2: -$8,000 Cash (Assets), +$8,000 Accounts PayableJan 3: -$700 Cash for Freight (Assets)Jan 5: -$2,500 Cash for Installation Costs (Assets)July 1: -$16,720 Cash (Assets), +$16,720 Accounts Payable2. Acquisition Cost: Machine's acquisition cost is $24,000 - $8,000 - $700 - $2,500 = $12,800.
3. Depreciation Expense: Annual Depreciation = (Cost - Residual Value) / Useful Life = ($12,800 - $3,200) / 10 = $1,060.
4. Impact of Interest: Interest paid does not affect the machine's cost. Interest can be included in the acquisition cost if incurred during the construction of an asset, increasing its historical cost.
5. Net Book Value at 2014: Accumulated Depreciation for 2013 = $1,060. For 2014, Accumulated Depreciation = $1,060 x 2 = $2,120. Net Book Value = Acquisition Cost - Accumulated Depreciation = $12,800 - $2,120 = $10,680.
Prime cost is Group of answer choices direct labor cost and indirect labor cost. indirect materials cost and direct labor cost. direct materials cost and indirect labor cost. direct materials cost and direct labor cost.
Answer: Direct material cost and direct labor cost.
Explanation:
Prime costs are the expenses incurred while creating finished goods. Prime cost is calculated by adding the direct material cost and direct labor cost.
Direct materials are the raw materials that are vital to produce a finished good while direct labor costs are wages and salaries or benefits that are paid to a worker who worked on the manufacturing of the good.
The prime costs in organizations are usually checked by the operations manager to know if there's efficiency in the production process of the company.
You must pick one of two wagers, for an outcome based on flipping a fair coin. 1. You win $440 if it comes up heads and lose $110 if it comes up tails. 2. You win $770 if it comes up heads and lose $220 if it comes up tails. Find the expected outcome for each wager. Which wager is better in this sense?
Answer:
See Below
Explanation:
Expected value is the sum of the products of the probability and payoff of each.
Wager 1:
probability of heads and tails, both is 0.5
Win = 440
Loose = 110
So,
Expected Value = 440(0.5) + (-110)(0.5) = 220 - 55 = $165
Wager 2:
Similar to wager 1
Win = 770
Loose = 220
So,
Expected value = 770(0.5) + (-220)(0.5) = 385 - 110 = $275
2nd wager is better, in this sense.
The expected outcome for wager 1 is $165, while for wager 2, it is $275. Therefore, wager 2 is better in terms of expected value.
To determine which wager is better, let's calculate the expected outcome for each wager.
Wager 1If you choose the first wager, you win $440 if it comes up heads and you lose $110 if it comes up tails.
Probability of heads (P(H)) = 0.5Probability of tails (P(T)) = 0.5Expected outcome for heads = $440 * 0.5 = $220Expected outcome for tails = -$110 * 0.5 = -$55Total expected outcome for wager 1 = $220 - $55 = $165Wager 2If you choose the second wager, you win $770 if it comes up heads and you lose $220 if it comes up tails.
Probability of heads (P(H)) = 0.5Probability of tails (P(T)) = 0.5Expected outcome for heads = $770 * 0.5 = $385Expected outcome for tails = -$220 * 0.5 = -$110Total expected outcome for wager 2 = $385 - $110 = $275Conclusion: The expected outcome for wager 2 is higher at $275 compared to $165 for wager 1. Therefore, in terms of expected value, wager 2 is the better choice.
True or False: Keeping his maximum willingness to pay for an apartment in mind, Carlos will not buy the apartment because it would be worth less to him than its market price of $180,000.
Answer:
True
Explanation:
Suppose Carlos is willing to pay a total of $135,000 for an apartment.
True or False: Keeping his maximum willingness to pay for an apartment in mind, Carlos will not buy the apartment because it would be worth less to him than its market price of $180,000.
Maximum willingness to pay is the maximum amount/price a buyer is willing to pay to purchase a good or service.
The market price of the apartment is $180,000 while Carlos is willing to pay $135000 or less to buy an appartment. Therefore, Carlos will not buy the appartment worth $180000 as the price is higher than what he is willing to pay.
Annual demand for the notebook binders at Duncan's Stationery Shop is 9 comma 700 units. Dana Duncan operates her business 300 days per year and finds that deliveries from her supplier generally take 5 working days. Calculate the reorder point for the notebook binders that she stocks.
Answer:
Annual demand (D) is 9700 units.
Number of Working days = 300 days per year
Lead time = 5 working days.
Calculate the Re-Order Point (ROP) using the following formula:
ROP = (Demand per day) x (lead time for a new order in days)
ROP = d x L
Where,
d = D / Number of working days
Substitute the values in equation (1)
ROP = (D / Number of working days) x Lead time
ROP = (9700 / 300) x 5
ROP = 161.67
ROP = 162 units
Thus, the Re-Order Point (ROP) is 162 units.
Which of the following methods seeks to effect positive change in processes and organizations by using a set of practical tools to address business issues and process problems? Select one: a. BPR (Business Process Reengineering) b. TOM (Total Quality Management) c. Rummler-Brache d. Six Sigma Methodologies e. Lean han one of the f. This statement can above.
Answer: D. Six Sigma Methodologies
Explanation:
Six sigma methodologies are a set of tools and techniques used to effect continuous improvements of a process,this improvements is aimed at reducing wastages or variations.
Six sigma uses tools such as DMAIC(DEFINE, MEASURE,ANALYSE ,IMPLEMENT,CONTROL) etc guide the process improvement process.
There are several other tools and techniques used they include FISHBONE DIAGRAM, MEASUREMENT SYSTEM ANALYSIS(MSA), 5S etc all these are implemented in different stages of the process.
Six Sigma Methodologies option d. is the method that effects positive change in processes and organizations by utilizing practical tools for business improvements and reducing process variations, as developed by Bill Smith of Motorola.
The method that seeks to effect positive change in processes and organizations by using a set of practical tools to address business issues and process problems is Six Sigma Methodologies.
Developed in the 1990s by Bill Smith of Motorola Corporation, Six Sigma is an approach designed to improve profitability by reducing process and product variation.
It involves a rigorous process improvement methodology that includes the Define, Measure, Analyze, Improve, Control (DMAIC) procedure and encourages the use of statistical methods to validate improvements. Motorola itself attributed significant savings to the implementation of this system.
Six Sigma practitioners utilize various tools, including the development of process maps, Plan, Do, Check, Act (PDCA) cycle for smaller projects, and holding expertise in Six Sigma projects.
These tools and the focused methodology aim to reduce variation and inefficiency in business processes, leading to higher-quality products and services.
Kevan, Jerry, and Dave formed Albee LLC. Jerry and Dave each contributed $245,000 in cash. Kevan contributed the following assets: Basis Fair Market Value Kevan: Cash $ 15,000 $ 15,000 Land* 120,000 440,000 Totals $ 135,000 $ 455,000 *Nonrecourse debt secured by the land equals $210,000 Each member received a 33.33 percent capital and profits interest in the LLC. (Leave no answer blank. Enter zero if applicable. Do not round intermediate calculations.) b. What is Kevan’s tax basis in his LLC interest?
Answer:
$55,000
Explanation:
Kevan tax basis is calculated as:
$120,000 + $15,000 + $90,000 + $40,000 - $210,00
Kevin tax basis = $55,000
Using the following illustration
Kevan contributed $120,000 to land
Jerry and Dave both contributed $0
Kevan contributed 15,000 in cash
Jerry and Dave both contributed $245,000 in cash
Kevan Nonrecourse mortgage in excess of the contributed amount to land is $90,000.
Jerry and Dave: $0
This is so because all nonrecourse debt greater than the amount is allocated to Kevan only.
Kevan, Jerry and Dave Remaining Nonrecourse mortgage is $40,000
This is calculated by 33.3% of ($210,000 - $90,000)
Kevan Relief from mortgage debt is $210,000
Jerry and Dave Relief from mortgage debt is $0
Kevan's tax basis in his LLC interest will be $205,000, which is the sum of his cash contribution, the adjusted basis of the land contributed, and his share of the nonrecourse debt.
Explanation:Under IRS regulations, Kevan's tax basis in his LLC interest will be calculated according to his contribution plus any liabilities he is assuming. Kevan contributed cash and land, which carry different tax implications.
For the cash contribution, Kevan's tax basis is simply the amount of cash contributed which is $15,000. For the land contribution, the tax basis is the amount of adjusted basis (the original cost plus improvements minus depreciation) at the time of contribution plus his share of the nonrecourse debt. The adjusted basis of the land is given as $120,000 and his share of the nonrecourse debt (since each member received 33.33 percent) would be $70,000 (1/3 of $210,000).
Adding these components together, Kevan’s tax basis in the LLC is $15,000 (cash) + $120,000 (adjusted basis of the land) + $70,000 (his share of nonrecourse debt) = $205,000.
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SunDay Holidays paid a fee to Google to display a link of their website when a user enters a keyword related to holidays or vacations. The link gets displayed on the right side of the search results page. This link is an example of:___________
Answer:
Sponsored link
Explanation:
Sponsored link: A paid advertisement that shows up on search engines such as Google in hypertext form when a search is done using some keywords. The advert are product and services that relates to the searched word.
Sponsored link is one of the most effective ways of advertisement on the Internet because it generate significant results. Sponsored link generates traffic on the website of the one advertising.
The link provided by SunDay Holidays is a sponsored link, which is an online advertising method where companies pay search engines to display their website links upon relevant keyword searches.
The link provided by SunDay Holidays is an example of a sponsored link, which is a form of online advertising. By paying , the company ensures that a link to its website appears prominently when users search for keywords related to holidays or vacations. These sponsored links are strategically placed on the search results page to gain more visibility and therefore potentially more traffic to their site. They can appear at the top, on the side, or even on the bottom of the search results, and they are a significant source of revenue for search engines
platform is designed to allow companies of all sizes to buy advertising space in specialized niches, thereby enabling even smaller businesses to target potential customers effectively. The service uses sophisticated algorithms to display ads relevant to what users are searching for or based on their browsing history, as noted in the examples of ads for athletic shoes appearing after conducting related searches.
Using the information given below for the fictitious country "Alpha," find national saving, private saving, public saving, and the national saving rate.
Household saving = 200, Business saving = 300, Government purchases of goods and services = 80, Government transfers and interest payments = 100, Tax collections = 220, and GDP = 1,800.
Answer:
Answer in explanation
Explanation:
We calculate each of the metrics for the country Alpha using the appropriate formula;
National saving
Mathematically, National saving = Public saving + Private saving
Private saving = Total income - Tax Revenue - Consumption or Y - T - C or household + Business savings = 200 + 300 = 500
Public saving
Mathematically, Public saving = Tax revenue - expenditures = T - G = 220 - (80 + 100) = 40
National saving is thus: 500 + 40 = 540
National saving rate
Mathematically, National saving rate = (National saving * 100)/GDP = (540 * 100)/1800 = 30%
We know that
National saving = Public saving + Private saving
Here
Private saving = household + Business savings
= 200 + 300
= 500
And,
Public saving = Tax revenue - expenditures
= 220 - (80 + 100)
= 40
Now
National saving is
= 500 + 40
= 540
And,
National saving rate
= National saving ÷ GDP
= (540 × 100) ÷ 1800
= 30%
In this way, it should be calculated.
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In 2021, the Westgate Construction Company entered into a contract to construct a road for Santa Clara County for $10,000,000. The road was completed in 2023. Information related to the contract is as follows:
2021 2022 2023
Cost incurred during the year $2,400,000 $3,600,000 $2,200,000
Estimated costs to complete- 5,600,000 2,000,000 0
as of year-end
Billings during the year 2,000,000 4,000,000 4,000,000
Cash collections during the year 1,800,000 3,600,000 4,600,000
Assume that Westgate Construction's contract with Santa Clara County does not qualify for revenue recognition over time.
1. Calculate the amount of revenue and gross profit (loss) to be recognized in each of the three years.
2-a. In the journal below, complete the necessary journal entries for the year 2021 (credit "Various accounts" for construction costs incurred).
2-b. In the journal below, complete the necessary journal entries for the year 2022 (credit "Various accounts" for construction costs incurred).
2-c. In the journal below, complete the necessary journal entries for the year 2023 (credit "Various accounts" for construction costs incurred).
3. Complete the information required below to prepare a partial balance sheet for 2021 and 2022 showing any items related to the contract.
The revenue and gross profit are recognized at the completion of the construction contract in 2023, being $10,000,000 and $1,800,000 respectively. The journal entries post debits to Construction in Progress for each year until the job's completion in 2023. The partial balance sheets for 2021 and 2022 show Construction in Progress, Billings on Construction Contract, and Deferred Revenue.
Explanation:The construction contract between Westgate Construction Company and Santa Clara County is recognized as a point in time recognition contract, meaning that revenue and gross profit are recognized upon the completion of the contract - not gradually during the construction.
For the revenue and gross profit recognition in each of the three years:2021, 2022, no revenue or gross profit is recognized as the project is ongoing.2023, revenue is recognized at $10,000,000 (the contract value), and gross profit is recognized at the revenue value subtracts the total costs of $8,200,000 (=$2,400,000+$3,600,000+$2,200,000), which equals $1,800,000.
For the journal entries:2021: Debit Construction in Progress $2,400,000, Credit Various accounts $2,400,000.2022: Debit Construction in Progress $3,600,000, Credit Various accounts $3,600,000.2023: Debit Cost of Goods Sold $2,200,000 and Accounts Receivable $4,000,000, Credit Construction in Progress $8,200,000, Revenue $10,000,000 and Various accounts $2,200,000.
For the partial balance sheet related to the contract:2021: Current assets include Construction in Progress of $2,400,000 and Billings on Construction Contract of $2,000,000, and current liabilities include Deferred Revenue of $2,000,000.2022: Current assets include Construction in Progress of $6,000,000 and Billings on Construction Contract of $6,000,000, and current liabilities include Deferred Revenue of $6,000,000.
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Westgate Construction Company recognizes all revenue and costs at the point of completion (2023), resulting in a gross profit of $1,800,000. All necessary journal entries and partial balance sheets for 2021 and 2022 have been provided. The computations are based on contract-determined parameters.
In 2021, the Westgate Construction Company entered into a contract to construct a road for Santa Clara County for $10,000,000. The road was completed in 2023. Information related to the contract is as follows:
1. Calculate the amount of revenue and gross profit (loss) to be recognized in each of the three years.
Revenue and Gross Profit/Loss Calculation:
Since the contract does not qualify for revenue recognition over time, all revenue and costs are recognized at the point of completion (2023).
2-a. Journal entries for the year 2021
Construction in Progress (CIP) $2,400,0002-b. Journal entries for the year 2022
Construction in Progress (CIP) $3,600,0002-c. Journal entries for the year 2023
Construction in Progress (CIP) $2,200,0003. Partial Balance Sheets for 2021 and 2022
2021:On January 7, Bravo purchased supplies on account for $1,000, and recorded this purchase to the Supplies account. At the end of January, Bravo had $600 of these supplies still on hand. The proper adjusting journal entry at January 31 would:________.
a) include a credit to Supplies for $400.b) include a debit to Supplies for $1,000.c) include a debit to Supplies Expense for $600.d) include a debit to Accounts Payable for $400.
Answer:
The proper adjusting journal entry at January 31 would: a) include a credit to Supplies for $400
Explanation:
On January 7, Bravo purchased supplies on account for $1,000, and recorded this purchase to the Supplies account by the entry:
Debit Supplies account $1,000
Credit Accounts Payable $1,000
At the end of January, Bravo had $600 of these supplies still on hand. Supplies were used in January = $1,000 - $600 = $400
The adjusting journal entry at January 31:
Debit Supplies Expense $400
Credit Supplies account $400
At the end of January, Bravo should debit the Supplies Expense for $400 and credit the Supplies for $400 to account for the used supplies.
Explanation:The most appropriate adjusting journal entry for Bravo at the end of January would include a debit to Supplies Expense for $400 and a credit to Supplies for $400. The initial $1,000 supplies purchase was recorded in the Supplies account, and by the end of January, only $600 of supplies were still on hand. This means that $400 of supplies were used up. Therefore, to reflect the consumed supplies, you debit the Supplies Expense account for the used portion ($400), showing as an expense for January, and credit the Supplies account, decreasing it by the same amount.
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A chemical manufacturer is setting up capacity in Europe and North America for the next three years. Annual demand in each market is 2 million kilograms (kg) and is likely to stay at that level. The two choices under consideration are building 4 million units of capacity in North America or building 2 million units of capacity in each of the two loca-tions. Building two plants will incur an additional one-time cost of $2 million. The variable cost of production in North America (for either a large or a small plant) is currently $10/kg, whereas the cost in Europe is 9 euro/kg. The cur-rent exchange rate is 1 euro for U.S. $1.33. Over each of the next three years, the dollar is expected to strengthen by 10 percent, with a probability of 0.5, or weaken by 5 per-cent, with a probability of 0.5. Assume a discount factor of 10 percent. What should the chemical manufacturer do? At what initial cost differential from building the two plants will the chemical manufacturer be indifferent between the two options?
Answer:
Explanation:
The two choices under consideration are building 4 million units of capacity in North America
YEAR 1 2 3
Production and Sales 4,000,000.00 4,000,000.00 4,000,000.00
Variable cost @ 10 40,000,000.00 40,000,000.00 40,000,000.00
Divide by:
Conversion Factor 1.33 1.33 1.33
Multiply by:
Growth(.1*.5)+(-.05*.5) 1.025 1.025^2 1.025^3
NET CASHFLOWS 30,827,068.00 31,597,744.00 32,387,688.00
DCF @ 10% 0.909090909 0.83 0.75
Present Values 28,024,607.27 26,113,838.02 24,333,349.36
NET TOTAL COST 78,471,794.65
or building 2 million units of capacity in each of the two loca-tions. Building two plants will incur an additional one-time cost of $2 million.
YEAR 0 1 2 3
Production and Sales 4,000,000.00 4,000,000.00 4,000,000.00
Variable cost @ [(10+9)/2] 38,000,000.00 38,000,000.00 38,000,000.00
Additional cost 2,000,000.00
Conversion Factor 1.33 1.33 1.33 1.33
Growth(.1*.5)+(-.05*.5) 1.025 1.025^2 1.025^3
CASHFLOWS 1,503,759.40 29,285,714.29 30,017,857.00 30,768,304.00
DCF @ 10% 1 0.909090909 0.826446281 0.751314801
Present Value 1,503,759.40 26,623,376.62 24,808,146.28 23,116,682.19
NET TOTAL COST = 76,051,964.50
DECISION: The manufacturer should build 2 plants in 2 different locations because it gives a lower net present cost
At what initial cost differential from building the two plants will the chemical manufacturer be indifferent between the two options?
The difference in both options came from the fact that variable cost is lower in Europe and building the plant is more expensive. If there is no increase in cost and variable cost is same everywhere, then both options will be same.
The decision for the chemical manufacturer's capacity setup requires analyzing long-run costs, economies of scale, and variable costs against the backdrop of possible currency exchange fluctuations, to determine which option yields the best financial outcome over three years.
The chemical manufacturer is considering two options for capacity setup: building 4 million kg capacity in North America only or splitting the capacity with 2 million kg in each location of North America and Europe. To tackle this, it is essential to evaluate the long-run costs and economies of scale to determine the most cost-efficient option. Given the difference in variable costs between North America and Europe (after converting euros to USD), and the potential changes in exchange rates, a detailed financial analysis should consider the expected net present value (NPV) of both setups using the provided discount factor and exchange rate forecasts.
Furthermore, since the chemical firm is a constant cost industry and production costs are consistent regardless of quantity, the decision primarily revolves around considering the one-time additional cost, differences in variable costs, and the implications of exchange rate fluctuations. An indifference analysis should find the initial cost differential that makes the NPVs of both options equal, by integrating the additional fixed cost and variable costs over the three-year period using the provided probabilities and the discount rate.
On January 1, 2019, Kelly Corporation acquired bonds with a face value of $500,000 for $483,841.79, a price that yields a 10% effective annual interest rate. The bonds carry a 9% stated rate of interest, pay interest semiannually on June 30 and December 31, are due December 31, 2022, and are being held to maturity.
1. Prepare journal entries to record the purchase of the bonds and the first two interest receipts using the straight-line method of amortization. If required, round your answers to the nearest cent. For compound entries, if an amount box does not require an entry, leave it blank.
June 30 entry
Answer:
Debt Securities Investment 493,841.79 debit
Discount on D-S Investment 6,158.21 debit
Cash 500,000 credit
--to record bonds purchase--
Cash 22,500 debit
Discount on D-S Investment 769.78 credit
Interest revenue 21,730.22 credit
--to record first interest collection--
Interest receivables 22,500 debit
Discount on D-S Investment 769.78 credit
Interest revenue 21,730.22 credit
--to record second interest collection--
Explanation:
cost 493,841.79
face value 500,000.00
discount: 6,158.21
We divide this over the total payment left:
6,158.21 / 8 = 769,78
interest proceeds
500,000 x 9% / 2 = 22,500.00
amorization (769.78)
Interest revenue 21,730.22
Answer:
Explanation:
Face value = 500000
Discount = -16158.21
Fair Value = 483841.79
Amortization Schedule
year Amount Interest repay Closing
6 months 483841.79 0 22500 461341.79
6 months 461341.79 48384.2 22500 487225.96
investment in bond 483841.79
Cash 483841.79
To record the investment at amortized cost.
Cash 22500
Investment 22500
to record the semi annual interest payment
Cash 22500
Investment 25884.2
Interest Income 48384.2
Jonathan is considering opening a shop for online baseball memorabilia. He has two options. He can build the web site himself and only pay for hosting. This would cost him $2,000/year. The average item for sale is $4. Average costs associated with each sale are $3. His second option is to use an existing e-commerce service. This incurs an additional monthly cost of $15/month. The site takes a cut of his sales, so he is planning on increasing his prices by $0.5/item. The remaining costs stay the same.
a. What is the annual fixed cost for the e-commerce site option?
b. What is the unit price for the e-commerce option?
C. What is the variable cost for the self-developed site option?
d. If Jonathan sells 200 items, which option does he prefer?
e. If Jonathan sells 700 items, which option does he prefer?
Answer:
(a) Fixed cost = $2000 + $180 (15*12) = 2180
(b) Unit price = $4 + $0.5 (price increase) = $4.5
(c) Unit variable cost = $3
(d) First option
(e) Second option
Explanation:
For (d) we have, first option gives (1800) as 200*(4-3) -2000= -1800 and second option give (1880) as 200*(4.5-3) – 2180.
So, he’d prefer first option because of less loss associated with it.
For (e) we have, first option gives (1300) as 700(4-3) -2000 = -1300 and second option gives (1130) because 700(4.5-3) – 2180 = -1130.
So, he would prefer second option because of less loss associated.
Answer:
Part (a) Annual fixed cost for the e-commerce site option
$15×12 = $180
Part (b) The unit price for the e-commerce option
$4.50+$0.50= $4.50
Part (c) Variable cost for the self-developed site option
The only variable cost is cost of sale = $3.00
Part (d) If Jonathan sells 200 items
Prefers E- Commerce Option which is more profitable
Part (d) If Jonathan sells 700 items
Prefers E- Commerce Option which is more profitable
Explanation:
Part (d) If Jonathan sells 200 items
Self Developed Site E- Commerce Option
Sales 800 900
Less VC 600 600
Contribution 200 300
Less FC 2000 180
Income (800) 120
Therefore E- Commerce Option is more profitable
Part (d) If Jonathan sells 200 items
Self Developed Site E- Commerce Option
Sales 2800 3150
Less VC 2100 2100
Contribution 700 1500
Less FC 2000 180
Income (1300) 1320
Therefore E - Commerce Option is more profitable
Liabilities are generally classified on a balance sheet as__________________.a. tangible liabilities and intangible liabilities.b. current liabilities and long-term liabilities.c. small liabilities and large liabilities.d. present liabilities and future liabilities.
Option B
Liabilities are generally classified on a balance sheet as current liabilities and long-term liabilities
Explanation:
Liabilities are essential features of a company because they are employed to finance services and finance for large developments. Liabilities are resolved over time by the transference of economic advantages including cash, assets, or help. Listed on the right side of the balance sheet.
The most basic liabilities are normally the most abundant like accounts payable and bonds payable. Most firms will have those two line items on their balance sheet, as they are a member of continuous current and long-term operations.
By themselves, ________ do not measure the financial performance of an ad campaign. But they are useful for evaluating many of the decisions that go into a campaign, such as keyword selection and ad copy.
Answer:
Click through rate
Explanation:
Click-through rate (CTR) are used to measure many of the decisions that go into a campaign, such as keyword selection and ad copy because the numbers of users who click on the advert link to the number of all total users who has either view the page of the advertisement and It is used to measure the success of an online advertising campaign for a website as well as how effective email campaigns are, by measuring or evaluating the numbers of people who actually saw the advert and click on the link of the advert that is why click through rate do not measure the performance of an advert campaign but rather useful to evaluate many of the decisions that go into a campaign.
Therefore the higher the click-through rate of an advert the more successful the advert has been in generating interest.
On March 2, Kingbird, Inc. sold $954,000 of merchandise on account to Ayayai Company, terms 4/10, n/30. The cost of the merchandise sold was $590,000. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.)
Answer:
Following Journal Entries are recorded for Kingbird, Inc
Explanation:
March 02
Debit: Account Receivable = $954,000
Credit: Sale = $954,000
(Credit Sale is Recorded)
Debit: Cost of Good Sold = $590,000
Credit: Inventory = $590,000
(To Record Cost of merchandise Sold)
The meaning of saving and investment Classify each of the following based on the macroeconomic definitions of saving and investment. Saving Investment Charles purchases a certificate of deposit at his bank. Gilberto takes out a loan and uses it to build a new cabin in Montana. Dina borrows money to build a new lab for her engineering firm. Juanita purchases stock in Goohoo, an information technology company.
Answer:
All the options given are examples of investment.
Explanation:
Savings are what an individual has left after their spending has been deducted from their disposable income. Savings can increase income by investing the money saved. Investment is an item or asset gotten with aim of generating income. An investment simply means buying goods that are not for immediate consumption but generation of income.
All the options provided are investment examples. A certificate of deposit is given by the bank to an individual after a certain amount of money has been deposited and it generates interest. Also building a cabin , a laboratory and buying stock are investments.
A process that performs at a 6 sigma level: a. is considered statistically 'perfect' b. has 3.4 defects per million opportunities c. operates at a 99.99966% accuracy d. all of the above e. some of the above
Answer:
d. all of the above
Explanation:
Six sigma as a 99.9997% rate of perfections which amounts to 3.4 error per million transaction.
Six sigma is an effective methodology that helps to reduce cost and decrease cycle time.
It is a methodology that increases productivity and efficiency in process, it also reduces the amount of defects and helps to eliminate it.
A process that operates at a 6 sigma level is considered near 'perfect', as it yields only 3.4 defects per million opportunities, resulting in a 99.99966% accuracy rate.
Explanation:The question pertains to the concept of Six Sigma, a set of techniques used for process improvement. A process that performs at a six sigma level, according to traditional Six Sigma management teachings, has a performance level that equates to only 3.4 defects per million opportunities. This results in a 99.99966% accuracy rate, which, while not quite 'perfect' in a literal sense, is often considered as such in operational and statistical contexts.
Thus the answer to the question is (d) All of the above.
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Licensing proprietary technology to foreign competitors is the best way to give up a firm's competitive advantage. Discuss whether you agree or disagree with this statement. Explain your answer in a well-constructed and cogent response.
Licensing proprietary technology to foreign competitors is the best way to give up a firm's competitive advantage-I agree with this statement
Explanation:
when a licensing arrangement is structured in such a way that ir reduces the risks of a firm's technological know-how being expropriated by licensees, then licensing may be said to be appropiate.
For example : when a firm perceives its technological advantage can be intimated by its competitor ,in such case the company gets its technology licensed before the imitation of its technology occur.By doing so the firm may deter its competitors from developing their own, possibly superior, technology. And by licensing its technology the firm may be able to establish its technology as the dominant design in the industry. In turn, this may ensure a steady stream of royalty payments.
so we can say that Licensing proprietary technology to foreign competitors is the best way to give up a firm's competitive advantage-I agree with this statement
It is necessary to weigh the advantages and disadvantages of licensing proprietary technology to foreign competitors in order to form a consistent opinion.
What are the disadvantages of technology licensing?For an organization that owns the rights to a certain technology, licensing to other companies may not be a good strategy to gain competitive advantage, as innovation is an essential characteristic for organizational success.
Therefore, technology licensing can be advantageous if an organization has its structure and objectives aligned with providing know-how to other companies, such as a franchise network for example.
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