Taking the advice to hire more sales representatives might be valuable, but conducting a thorough evaluation of the situation first is essential. The use of problem-solving techniques can uncover whether underlying issues are causing slow service. If lack of staff is indeed the root problem, more hires might be a valid solution.
Explanation:In assessing your colleague's advice to hire more sales representatives to alleviate slow customer service, consider the root cause of the issue. Simply adding more staff might not address underlying problems. Before deciding on a course of action, conduct a thorough evaluation of the situation. This might involve observing customer interactions, surveying staff about their workload, or analyzing sales data.
Use problem-solving techniques such as the 5 Whys or Fishbone Diagram to dig deeper into the reasons behind slow service. Perhaps the issue lies not in the number of staff, but in inefficient processes, lack of training, or problematic management. Engage in open and honest communication with the sales team to understand their perspective.
If after this evaluation, a lack of staff seems to be the main issue, then hiring more sales representatives could indeed be a valid solution. Yet, always ensure to base decisions on well-considered analysis rather than instant responses to complaints.
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What relationship exists between financial institutions and financial markets? g
Answer:
Access and price relationships
Explanation:
Financial institutions - organizations operating in the financial and credit system. In the interpretation of the Western economic tradition, financial institutions are intermediaries between investors (households) and entrepreneurs (consumers of investments).
Financial markets are mechanisms that enable funds to be transferred from those with excess funds to those with few funds. Financial markets are divided into two as money markets and capital markets in terms of maturity. Money markets are markets where short-term funding supply and demand meet. Here, a short term is a year and a shorter term. Capital markets are the markets where long-term fund supply and demand are encountered. Here, long term is meant for over a year. Financial markets also provide low transaction cost value and prices that reflect the effective-market hypothesis.
We can think of basic relationships. The first concerns about the access. Financial institutions provide access to financial markets on behalf of investors seeking financial assets, such as institutional investors. The second relationship can often be claimed as "price." Financial asset prices (traded in financial markets), research and trading activities in financial assets, the actual cost or price of a particular asset affect the performance of financial institutions that affect the market outlook. For example, if a financial institution holds a significant stake in a particular company, it is a sign of markets (good or bad) and ultimately affects the price that a company is willing to pay for a financial asset. (e.g. stocks, bonds, etc.).
For the fiscal year 2019, your company has total revenues of $250,000 and total expenses of $213,000. Assets had a book value of $750,000, Liabilities had a value of $225,000, and dividends paid to shareholders were $50,000.
Create an Income statement below.
Answer:
Income Statement for the fiscal year ended 2019
Revenue $250,000
Expenses $213,000
Net Income $37,000
Explanation:
The income statement for the year ended 2019 is made by deducting all the total expenses from revenue generated to find net income. The revenue is provided in the question which is $250,000. Total expenses are then presented in the income statement the amount is $213,000, this figure is deducted from revenue which derives the net income figure of $37,000.
A series of coordinated, related, multiple projects that continue over an extended time period and are intended to achieve a goal is known as a
Answer:
The correct answer is letter "B": Program.
Explanation:
A program collects the sets of ideas, projects, and plans companies come up with to pursue and accomplish their objectives. Programs tend to be reviewed periodically to verify if the progress of the goals is made according to what is expected or if there are delays to be adjusted.
A series of coordinated, related, multiple projects aiming for a larger goal is known as program management, which encompasses the use of project management techniques to successfully achieve strategic objectives.
A series of coordinated, related, multiple projects that continue over an extended time period and are intended to achieve a goal is known as program management. Program management is crucial for achieving strategic objectives through the successful coordination and completion of related projects. Each project within a program contributes toward a shared goal, yet may also deliver unique outcomes or products. The importance of program management can be seen in its ability to bring together various projects to achieve a broader, strategic objective in an efficient and focused manner.
Project management plays a vital role in this process, employing a disciplined approach to managing the different components of each project effectively. This involves the coordination of five process groups (initiation, planning, executing, monitoring and controlling, and closing) and understanding of nine knowledge areas including scope, time, cost, quality, human resources, communication, risk, integration, and procurement management. The use of tools like Gantt charts helps in visually tracking project timelines, ensuring that tasks are completed as scheduled, which is essential for the timely completion of the entire program.
Understanding project management is essential for anyone involved in program management, as it provides the foundation for organizing, controlling, and leading projects towards successful completion. Effective program management ensures that all projects align with the overarching goal and are executed efficiently, thereby contributing to the success of the wider objectives that an organization aims to achieve.
In this example of an "inflation cooling" tax increase, the economy was initially struggling with a ________ annual rate of increase in the price level..
The economy was initially struggling with a high annual rate of increase in the price level before the introduction of an 'inflation cooling' tax increase. Inflation can range from low (creeping inflation) to very high (hyperinflation), impacting economic stability and business planning. Moderate inflation can coexist with a growing economy, whereas high inflation may hamper productivity and economic growth.
In this example of an "inflation cooling" tax increase, the economy was initially struggling with a high annual rate of increase in the price level. Inflation is measured by the percentage increase in the price level over a year and can be classified into different types based on the rate of increase. Creeping inflation occurs at a slow pace of 0% to 2% per year. In contrast, galloping inflation occurs at a much faster pace of 10% to 20% per year. In extreme cases, the economy can experience hyperinflation, which could involve rates as high as 40% per month.
Low levels of inflation, such as 2%, 3%, or 4%, are generally not considered a crisis for an economy, and are preferential to deflation that often happens during severe recessions. On the other hand, galloping or hyperinflation can have catastrophic effects on an economy, leading to profound social and economic consequences.
It is imperative for businesses to adapt their strategies according to the inflation level. If inflation is moderate and stable, long-term strategies may be viable. However, with substantial volatility in inflation, taking shorter-term approaches may be more prudent. Economic progression is contingent on managing inflation levels effectively. Moderate inflation of less than 3% per year is often compatible with healthy economic growth, whereas high levels of inflation can impede business planning and overall economic productivity.
Inflation's impact depends on its rate, ranging from mild to severe. In this case, the economy faced low inflation before a tax increase was implemented.
In this scenario, the economy was initially struggling with a low annual rate of increase in the price level. When inflation is increasing slowly at around 0% to 2% per year, it reflects creeping inflation, which is a mild form of inflation, not yet considered a national crisis.
1. OB helps managers explain, predict, and influence behavior in the workplace. Identify behaviors that you are most interested in explaining, predicting, and influencing in the workplace. Discuss why these behaviors are important to you as a manager.
2. We all bring both conscious and unconscious biases into the workplace. While many companies have diversity programs, some managers still lack the necessary skills and training to properly manage diverse teams. As a manager, what steps would you take to ensure that everyone on your team is treated fairly, regardless of race, gender, disability, sexual orientation, etc.?
Answer:
Part 1).
The behavior that I am most involved in amplification, forecasting and persuading in the office is motivation between the team followers and staffs.
One the key persistence of association behavior is to manage staffs efficiently. This means that the employee administration is a large part of OB. In doing that administrations need to employee competent personnel and make sure they are sufficiently motivated. While the motivation can be of diverse types (internal and external), the administration of the motivation is what makes staffs efficient and creative. Thus in order to achieve effectiveness and productivity on association level, I believe it is significant to manage worker motivation efficiently.
There are various representations that can be used for this determination. For example, Maslow’s hierarchy, Herzberg’s’ theory, etc.
Part 2).
One of the significant steps to eliminate biases and preconceptions is to admit their presence and to vigorously avoid them. The staffs should receive discernment and diversity training on a regular basis. In addition to this stages of possible judgement/bias such as signing, raises, task, etc. needs to be totally objective. The valuation of staffs or possible personnel should follow objective procedure and assessment criteria.
This should allow plummeting, if not removing, the bias and judgement in the day to day process of the team and the association.
Managers are interested in explaining, predicting, and influencing behaviors such as job satisfaction, teamwork, and adaptation to workplace culture. Fair management of diverse teams involves diversity training, ensuring procedural justice, and acknowledging biases. Understanding and emulating a manager's approach can positively influence job satisfaction and opportunities.
Explanation:As a manager, I am most interested in explaining, predicting, and influencing behaviors such as job satisfaction, teamwork, and workplace culture adaptation. These behaviors are crucial because they contribute to the productivity and competitiveness of an organization. Job satisfaction can lead to higher efficiency, while effective teamwork can result in better problem-solving and innovation. Adapting to the organizational culture is vital for ensuring smooth operations and adherence to company values.
To manage diverse teams fairly, I would take several steps, including offering diversity training, ensuring procedural justice, and recognizing the impact of conscious and unconscious biases. Diversity training helps employees understand cultural differences, while procedural justice ensures fairness in the processes within the organization. Recognizing biases helps the manager to make more objective decisions regarding hiring, benefits, promotions, or termination, based on immutable characteristics like race, gender, disability, and sexual orientation.
Additionally, observing and understanding the manager's approach could influence employees' work satisfaction. It's important to be perceptive of the manager's qualities and pressures and to emulate positive behaviors witnessed in the workplace. This understanding can smooth the way to greater job satisfaction and opportunity within the company.
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Proctor & Gamble departmentalizes by Tide, Pampers, Charmin, and Pringles. This is an example of departmentalization by
Answer:
Product
Explanation:
Departmentalization - This is the breakdown of a single business into smaller unit under the same coordination for administrative and operational convenience.
Departmentalization by product - When business entity is divided into smaller manageable unit along the line of products produced by the organisation, that is what we called departmentalization by product.
Identical products or products with similar characteristics are placed under the same department.
Proctor & Gamble's organization of its operations around Tide, Pampers, Charmin, and Pringles is an example of departmentalization by product. This strategy allows for the focused development, marketing, and management of each brand, leveraging specialized teams to enhance product quality and market competitiveness.
Explanation:Proctor & Gamble departmentalizes by Tide, Pampers, Charmin, and Pringles. This is an example of departmentalization by product. In this structure, the organization segments its operations around products or product lines, allowing for specialized development, marketing, and management of each brand. Each product (Tide, Pampers, Charmin, Pringles) operates as a semi-autonomous unit with its own department that handles the planning, production, and marketing activities specifically for that product. This approach enables Proctor & Gamble to focus on the individual performance and strategic development of each brand, catering to different consumer needs and market segments more effectively.
By departmentalizing around products, companies like Proctor & Gamble benefit from dedicated teams that have specialized knowledge and focus, which can lead to innovations and improvements in product quality, enhanced brand recognition, and stronger market positions for each product line. Hence, departmentalization by product is a key organizational strategy that aligns with the objectives of managing diverse product portfolios and maximizing the competitive advantage within different market segments.
Suppose Natasha currently makes $50,000 per year working as a manager at a cable TV company. For the soap making opportunity she anticipates annual revenue of $465,000 and costs for the necessary land, labor and capitol of 395,000 per year. For the internet opportunity she anticipates costs for land labor and capitol of$ 3,250,000 per year as compared to revenues of $3,275,000 per year. Should she quit her current job to become an entrepreneur? If she does not quit her current job which opportunity would she pursue?
Answer:
She should quit her job, become an entrepreneur and choose the soap making for the highest profit/ income of $70,000
Explanation:
Step 1: Calculate Natasha's annual profit if she should start the soap business
The annual profit from Soap Business = Annual Revenue - Costs for the year
The annual profit = $465,000- $395,000 = $70,000
Step 2: Calculate Natasha's annual profit if she should start the internet opportunity she anticipates
The annual profit for the internet business = Annual Revenue - Costs for the year
= $3,275,000 - $3,250,000= $25,000
Since she is to make a choice between three options,
1. Manager Job per year = $50,000
2. Soap Making= $70,000
3. Internet Opportunity= $25,000
Then she should quit her job, become an entrepreneur and choose the soap making for the highest profit of $70,000
What are the main pros and cons of a Job-Order Costing system? 2. What do you think would be the greatest challenge in maintaining a Job-Order Costing system for a manufacturing company?
Answer:
Explanation:
One of the benefits of job order costing is that it allows managers to calculate the benefits they receive from individual jobs and helps them to determine whether specific jobs are desirable in the future. This is best for businesses that do extremely specific jobs, such as construction contractors and consultants.
Job orders costing also gives managers the advantage of tracking individual and team performance in terms of cost control, efficiency and effectiveness.
One disadvantage of job order costing is that employees control all the materials and work used during the job. As an example, consider a construction contractor using a business order cost system. The Contractor shall inform all work, timber, nails, screws, electrical installations, paint and other materials, as well as lunch breaks and hours of work of the employees.
The use of job order costs in a production environment involves which "work" uses different types of direct costs such as direct labor and direct material, and then allocates overhead (indirect labor, warranty, quality control, and other overhead). An enterprise income statement is similar to a statement of profit or loss for the firm, but is specific to each business number.
In the 1848 presidential election, the Democratic and Whig parties
a. lost to the Free Soil party.
b. addressed the issue of slavery.
c. remained silent on the issue of slavery.
d. abandoned the tactic of nominating military leaders.
e. were divided on the issue of admitting California.
Answer:
c. remained silent on the issue of slavery.
Explanation:
In the 1848 presidential election, the Democratic and Whig parties remained silent on the issue of slavery.
What are the possible drawbacks associated with not considering opportunity costs and time value of money when making financial decisions?
step 1 of 4
opportunity cost
opportunity cost is defined as sacrificing something to obtain something else which is more desirable. every individual has multiple opportunities at one point of time out of which he selection one opportunity which is more desirable and sacrifice other opportunities.
Successful implementation of the differentiation strategy requires a structure that Group of answer choices c. focuses on the finance function. d. is dominated by the operations function. b. decentralizes decision making. a. has specialized job
Answer:
The correct answer is letter "B": decentralizes decision making.
Explanation:
A differentiation strategy is adopted by companies in the attempt of producing a unique good or at least one that can be differentiated from competitors attracting consumers' attention. For differentiation strategy to be effective, firms must be willing to make researches, come up with strong marketing plans, and decentralize their decision-making to fasten the production process.
Just in time inventory involves the following main component:
A. Maximizing Turnover.
B. Restocking inventory frequently.
C. Supplier agreement.
D. Essential component of larger production planning process.
E. All of the above.
Answer:
"E "
Explanation:
Just in time inventory is an inventory management system where inventory required for production are ordered at the point of production.
This practice helps to maximize profit as investment on inventory carriage and storage are minimized , aiding an improved working capital management.
It is of importance that machine break down is avoided and there is a reliability of man power in order to avoid operation down time when there is a demand.
Also , there must be a solid arrangement with supplier for it to be effective.
The cost of overestimating demand is usually harder to determine than the cost of underestimating demand. Group of answer choices False True
Answer:
The statement is: False.
Explanation:
In supply chain management, incremental analysis is in charge of determining the cost of ordering one more additional unit of a product over the cost of no requesting that additional unit. The cost of overstimulating demand is the loss of ordering one additional unit and discovering that it cannot be sold. The cost of underestimating demand is the opportunity loss for nor requesting one additional and discovering it could have been sold.
The cost of underestimating demand is more difficult to determine than the cost of overestimating demand because underestimating demand because it involves customer's desires on purchasing a product when not having the resources to do so.
A/An _______________ fails to meet customers’ minimal requirements, potentially costing you business, even when you perform well on all other dimensions
a. Order Winner
b. Order Qualifier
c. Order Loser
d. Order Innovator
Answer:
The correct answer is letter "B": Order Qualifier.
Explanation:
An Order Qualifier represents the minimum features a good or service must meet so consumers can think about purchasing them. Variables that could fall into this category are price, convenience or the product's reputation. If the good or service accomplishes one of those characteristics and is of preference of the consumers, then the firm has an order winner.
Answer:
b. Order Qualifier
Explanation:
An order qualifier is a characteristic of a product or service that is required in order for the product/service to even be considered by a customer. An order winner is a characteristic that will win the bid or customer's purchase. Therefore, firms must provide the qualifiers in order to get into or stay in a market.
Order winners and qualifiers are both market-specific and time-specific. They work in different combinations in different ways on different markets and with different customers. While, some general trends exist across markets, these may not be stable over time. For example, in the late 1990s delivery speed and product customization were frequent order winners, while product quality and price, which previously were frequent order winners, tended to be order qualifiers. Hence, firms need to develop different strategies to support different marketing needs, and these strategies will change over time. Also, since customers' stated needs do not always reflect their buying habits, Hill recommends that firms study how customers behave, not what they say.
Balance sheet data for Alvarez Company on December 31, the end of two recent fiscal years, follow: Current Year Previous Year Current assets $2,500,000 $1,840,000 Property, plant, and equipment 5,600,000 6,072,000 Intangible assets 1,900,000 1,288,000 Current liabilities 2,000,000 1,380,000 Long-term liabilities 3,400,000 3,680,000 Common stock 920,000 920,000 Retained earnings 3,680,000 3,220,000 Prepare a comparative balance sheet for both years, stating each asset as a percent of total assets and each liability and stockholders' equity item as a percent of the total liabilities and stockholders' equity.
The comparative balance sheet calculates each asset category as a percentage of total assets, and every liability and stockholders' equity item as a percentage of total liabilities and stockholders' equity for two fiscal years. This helps in identifying shifts in a company's financial structure.
Explanation:The question pertains to preparing a comparative balance sheet for Alvarez Company for two consecutive fiscal years, indicating each asset as a percentage of total assets and every liability and stockholders' equity item as a percentage of the total liabilities and stockholders' equity. First, we calculate the total assets, total liabilities, and total stockholders' equity for each year. For the current year, total assets are $10,000,000 ($2,500,000 current assets + $5,600,000 property, plant, and equipment + $1,900,000 intangible assets). Accordingly, each asset category's percentage of total assets can be calculated. Repeat this procedure for total liabilities and stockholders' equity. The same calculations should be repeated for the previous year's amounts. This helps in understanding changes in the company's financial structure over time.
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This type of research allows researchers to collect information aboutattitudes, beliefs, and behaviors of a population. a. experiment b. interview c. survey d. case study
Option C, Survey
Explanation:
The general definition of survey research is a systematic approach for collecting information by numerous survey questions from a sample of respondents.
Public opinion polls, reports on public health, consumer studies, policy investigations and censuses all provide examples of quantitative research that uses polling methodology to address demographic questions.
Surveys can take multiple forms, but they are most often written or online in the form of a questionnaire. Essentially, a survey is a way of collecting data from a sample of people, usually in order to generalize findings for a larger population.
The type of research that allows for collection of information on attitudes, beliefs and behaviors is a survey. It uses interviews or questionnaires to collect data from a large group of people in a structured way.
Explanation:The type of research that allows researchers to collect information about attitudes, beliefs, and behaviors of a population is a survey. A survey allows for data collection from a large group of people about their views, thoughts and behaviours in a structured way. This can be done through various means such as online, telephone, face-to-face interviews, and questionnaires. It’s a cost-effective method and can be used to gather data from a large geographical area.
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Which of the following are microeconomic issues?Which are macroeconomic issues?
a)How will an increase in the price of Coca-Cola affect the quantity of Pepsi-Cola sold?
b)What will cause the nation's inflation rate to fall?
c)How does a quota on textile imports affect the textile industry?
d)Does a large federal budget deficit reduce the rate of unemployment in the economy?
Answer:
Microeconomic issues
a)How will an increase in the price of Coca-Cola affect the quantity of Pepsi-Cola sold?
c)How does a quota on textile imports affect the textile industry?
Macroeconomic issues
(b) What will cause the nation's inflation rate to fall?
(d) Does a large federal budget deficit reduce the rate of unemployment in the economy?
Explanation:
The issues pertaining to a industry and business are all studied and analyzed in Microeconomics that's why (a) & (c) fall under Microeconomic issues.
The issues pertaining to the entire economic system like inflation, budget deficit and unemployment rate etc. as stated in options (b) & (d) respectively all fall under Macroeconomic issues.
Joe Girard's Law of ________ states that just a few unhappy customers can keep a great many other customers away from your business.a. 200b. 250c. Sales
Answer:
The correct word for the blank space is: 250.
Explanation:
American salesman Joe Girard (born in 1928) describes in his book "The World's Greatest Salesperson" the 250 law which implies anybody meets an average of 250 in the course of their lives. Under this idea, a salesperson could conclude that having a good relationship with each of those individuals could boost sales. The Girard 250 law tries to explain that is important to keep a good relationship with people -clients for salesmen, so they can refer us in the future.
Via Gelato is a popular neighborhood gelato shop. The company has provided the following cost formulas and actual results for the month of June: Fixed Element per Month Variable Element per Liter Actual Total for June Revenue $ 25.00 $ 151,540 Raw materials $ 5.95 $ 39,030 Wages $ 6,900 $ 2.70 $ 23,500 Utilities $ 2,930 $ 1.50 $ 13,000 Rent $ 3,900 $ 3,900 Insurance $ 2,650 $ 2,650 Miscellaneous $ 780 $ 1.65 $ 10,890 While gelato is sold by the cone or cup, the shop measures its activity in terms of the total number of liters of gelato sold. For example, wages should be $6,900 plus $2.70 per liter of gelato sold and the actual wages for June were $23,500. Via Gelato expected to sell 6,200 liters in June, but actually sold 6,400 liters. Required: Calculate Via Gelato revenue and spending variances for June. (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Input all amounts as positive values.)
Answer:
Explanation:
Revenue (6400*25-151540) = 8460 U
Expenses:
Raw material (6400*5.95-39030) =950 U
Wages (6400*2.7+6900-23500) =680 F
Utilities (6400*1.5+2930-13000) =470 U
Rent (3900-3900)) = 0 None
Insurance (2650-2650) 0 None
Miscellaneous (6400*1.65+780-10890)= 450 F
Total expense 290 U
Net operating income 8750 [8460+290] U
Gelato's revenue based on the information given will be 8460 U.
From the information given, the revenue will be:
= (6400 × 25) - 151540
= 8460 U
Expenses:
Raw material will be:
= (6400 × 5.95) -39030
=950 U
Wages will be:
= (6400 × 2.7) + 6900 - 23500
= 680 F
Utilities will be:
= (6400 × 1.5) +2930 - 13000
= 470 U
Rent will be:
= (3900-3900) = 0
Insurance will be:
= (2650-2650) = 0
Miscellaneous will be:
= (6400 × 1.65) + 780 - 10890
= 450 F
Total expense = 290 U
Therefore, net operating income will be:
= [8460+290] U = 8750 U
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An individual taxpayer reported the following net long-term capital gains and losses:Year Gain (loss)1 ($5,000)2 1,0003 4,000The amount of capital gain that the individual taxpayer should report in year 3 is:a. $4,000b. $6,000c. $2,000d. $2500
Answer:
A) 4000
Explanation:
Long term capital losses cannot be set of against the long term capital gains of next year
As a result an individual taxpayer should report in the
year 3 is $4000
A machine can be purchased for $250,000 and used for five years, yielding the following net incomes. In projecting net incomes, straight-line depreciation is applied, using a five-year life and a zero salvage value.
Year 1 Year 2 Year 3 Year 4 Year 5
Net income $ 17,000 $ 42,000 $ 119,000 $ 63,500 $ 168,000
Compute the machineâs payback period (ignore taxes).
Answer:
2.53 years
Explanation:
For computing the payback period, first we have to find out the depreciation expense which is shown below:
= (Purchase value of machine - residual value) ÷ (useful life)
= ($250,000 - $0) ÷ (5 years)
= ($250,000) ÷ (5 years)
= $50,000
Now the cash flows would be
Year Net income Depreciation Net cash flow
Year 0 ($250,000)
Year 1 $17,000 $50,000 $67,000
Year 2 $42,000 $50,000 $92,000
Year 3 $119,000 $50,000 $169,000
Year 4 $63,500 $50,000 $113,500
Year 5 $168,000 $50,000 $218,000
As we add the first 2 year net cash flows than it would be $159,000
Now we deduct the $159,000 from the $2500,000 , so the amount would be $91,000 as if we added the third year cash inflow so the total amount exceed to the initial investment. Therefore, we subtract that, and the next year's cash inflow will be $169,000.
So, the payback period would be
= 2 years + $91,000 ÷ $169,000
= 2.53 years
Journalize the transactions of Lawrence Engineering. Include an explanation with each journal entry. Use the following accounts: Cash; Accounts Receivable; Office Supplies; Equipment; Accounts Payable; Notes Payable; Common Stock: Dividends; Service Revenue; and Utilities Expense.
Jul. 2 Received $14,000 contribution from Brett Lawrence in exchange for common stock.
4 Paid utility expense of $370.
5 Purchased equipment on account, $1,600.
10 Performed services for a client on account, $2,900.
12 Borowed $7,100 cash, signing a note payable.
19 Cash dividends of $200 were paid to stockholders.
21 Purchased office supplies for $840 and paid cash.
27 Paid the liability from July 5.
Answer:
The Journal entries are as follows:
(i) On July 2,
Cash A/c Dr. $14,000
To common stock $14,000
(To record the common stock)
(ii) Only July 4,
Utility expenses A/c Dr. $370
To cash A/c $370
(To record the utility expenses paid)
(iii) Only July 5,
Equipment A/c Dr. $1,600
To accounts payable A/c $1,600
(To record equipment purchased on account)
(iv) Only July 10,
Account receivables A/c Dr. $2,900
To service revenue A/c $2,900
(To record Performed services for a client on account)
(v) Only July 12,
Cash A/c Dr. $7,100
To notes payable $7,100
(To record the borrowed cash on notes payable)
(vi) Only July 19,
Dividend A/c Dr. $200
To cash $200
(To record cash dividend paid to stockholders)
(vii) Only July 21,
Office supplies A/c Dr. $840
To cash $840
(To record office supplies paid cash)
(viii) Only July 27,
Accounts payable A/c Dr. $1,600
To cash $1,600
(To record the liability paid)
The journal entries for Lawrence Engineering include transactions such as receiving contributions, paying expenses, purchasing equipment, performing services, borrowing cash, paying dividends, and buying office supplies.
Explanation:July 2: Cash $14,000 (debit); Common Stock $14,000 (credit)The marginal utility from the first three bananas consumed are: 19, 15, and 5 respectively. The marginal utility from the first three pizza slices are: 48, 33, and 3 respectively. The marginal utility from the first three pairs of cheap sandals is 120, 30, and 6. Each banana costs $1, pizza costs $3 per slice, and a pair of sandals cost $6. You have $6 in your budget. How do you maximize your utility?
A. 1 pair of sandals
B. 3 bananas, 1 pizza slice
C. 3 pizza slices
D. 3 pairs of sandals
E. 2 pizza slices
Answer:A pair of sandals.
Explanation:Its so obvious stating that the marginal utility derived from sandals is higher compared to the other two items. You maximize your utility by going for the item with highest satisfaction which is glaringly sandals.
You also maximize your utility by considering the item which is economica prudent to one needs or want.
To maximize the utility with a fixed budget, calculate the marginal utility per dollar for each item, then prioritize items with the higher result. In this case, one pair of sandals followed by three bananas would provide the most utility.
Explanation:The way to maximize utility with a budget of $6 is to calculate the utility per dollar spent for each item and allocate the budget according to the greatest utility per dollar. The utility per dollar for the bananas, pizza slices, and pairs of sandals are 19, 16, and 20 for the first unit; 15, 11, and 5 for the second unit; and 5, 1, and 1 for the third unit, respectively. Given that you can afford 6 items at most, and the sandals offer the highest utility per dollar spent for the first unit, followed by the banana, then the pizza slice, the option that allows you to maximize your utility would be the purchase of 1 pair of sandals, and then 3 bananas if the items are indivisible.
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Indicate whether the following items would appear on the income statement, balance sheet, or retained earnings statement.
(a) Notes payable Select a statementEntry field with correct answer
(b) Advertising expense Select a statementEntry field with incorrect answer now contains modified data
(c) Common stock Select a statementEntry field with correct answer
(d) Cash Select a statementEntry field with incorrect answer now contains modified data
(e) Service revenue Select a statementEntry field with correct answer
(f) Dividends
Answer:
Explanation:
The income statement records the total revenues and total expenses during a particular period of time
The balance sheet reports the assets and the liabilities that determines the financial position, performance of the company
The retained earnings statement is similar to the statement of stockholder equity which reports the dividend, net income, beginning balance, and the ending balance of this above accounts
So, the categorization is shown below:
(a) Notes payable = Liabilities side on the balance sheet
(b) Advertising expense = expense side on the income statement
(c) Common stock = Balance sheet
(d) Cash = Asset side on the balance sheet
(e) Service revenue = Income side on the income statement
(f) Dividend = Shown on retained earnings statement in a negative amount
Return to Amir’s original purchase date of July1, 20X5. Assume that Amir uses straight-line method of depreciation and sells the equipment for $36,500 on July 1, 20X9. The result of the sale of the equipment is a gain (loss) of:
a. ($3,500)
b. $7,500
c. $2,500
d. $0
Answer:
Explanation:
This question doesn’t seem to be complete however I’ll try to answer it to the best of my knowledge.
Firstly we must know the Original Purchase Price of the Asset. From the Original Purchase Price we will deduct the accumulated Depreciation and get the Net Book Value. From this Net Book Value the selling price of the Equipment will be deducted to calculate the Gain or Loss on the Sale of Equipment. I have given an example to demonstrate the scenario
COST $120,000
Straight Line Depreciation Rate (Annual) 15%
Monthly Depreciation $1,500
Accumulated Depreciation (4 years) $72,000
Net Book Value $48,000
Selling Price of Asset $36,500
Gain on Sale of Asset $11,500
Kenzie Godfrey was a passenger in a taxi when it collided with a car driven by Dawn Altieri. Altieri had originally leased the car from G.E. Capital Auto Lease, Inc. By the time of the accident, she had bought it, but she had not fully paid for it or completed the transfer-of-title paperwork. Godfrey suffered a brain injury and sought to recover damages from the owner of the car that Altieri was driving.
1. Who had title to the car at the time of the accident? Explain
Answer:
Explanation:
Let's look at some facts:
1. Dawn Altieri has leased a car from GE Auto lease
2. Dawn Altieri had an accident where she caused an injury to Kenzie Godfrey
3. At the same time of an accident, Dawn Altieri owned the car although she had not completed the transfer of title formalities.
4. Kenzie Godfrey suffered brain damage and claimed damages from owner of the car
Under the UCC it is assumed that when the physical goods are handed by the seller to the buyer the title has passed. However, when the goods are leased the title remains with the lessor-owner.
Although Dawn Altieri has originally leased the vehicle, she had now purchased it. Therefore, even though final formalities have not completed, she was the tile-holder of the vehicle.
Therefore, Dawn Altieri was liable for the damages claimed by Kenzie Godfrey.
Starbucks elected to pay higher prices to coffee growers who meet a list of quality standards that impact social, environmental, and economic standards. Which part of the triple bottom line does this impact?
a. Environmental performance
b. Social performance
c. Financial performance
Answer:
c. Financial performance
Explanation:
Financial performance -
It is the type of measurement method , where the better he firm can get revenue from the primary mode of business gets a better performance , is referred to as financial performance.
Financial performance of a company also give information about the financial health of the company.
Hence, from the given scenario of the question,
The correct term is c. Financial performance .
The following variable production costs apply to goods made by O'Brien Manufacturing Corporation: Item Cost per Unit Materials $ 6.00 Labor 3.00 Variable overhead 3.50 Total $ 12.50 Required Determine the total variable production cost, assuming that O'Brien makes 4,000, 8,000, or 12,000 units.
Answer:
$50,000 ; $100,000 ; $150,000
Explanation:
The computation of the total variable production cost is shown below:
For 4,000 units, it would be
= 4,000 units × $12.50
= $50,000
For 8,000 units, it would be
= 8,000 units × $12.50
= $100,000
For 12,000 units, it would be
= 12,000 units × $12.50
= $150,000
Simply we multiplied the total variable cost per unit with the respective units
Which of the following would NOT be a benefit of purchasing call options for the stocks of a number of different companies?
[A] If the underlying stocks decline, the investor's losses would be limited to the amount of the premiums.
[*B] By exercising the calls early, the investor could limit the risk in his portfolio.
[C] If the underlying stocks moved upward, the investor could participate in this upward movement.
[D] Added diversification would be provided to the investor only until the calls expire.
Answer: Option B
Explanation:
Call option is the purchase of the right to purchase the product at a fixed price before the time agreed. Buying call options, would limit the risk level to the premiums paid for the calls. So the option A is correct and by the exercise of this call option early cannot limit risk on the portfolio. The remainder two are the benefit of purchasing call options.
Option B is the incorrect benefit, as exercising calls early doesn't limit risk but can result in the loss of the option's time value. Call options can limit losses, offer potential gains, and provide diversification until expiry.
Explanation:The correct answer to the question of which following would NOT be a benefit of purchasing call options for the stocks of a number of different companies is option B: By exercising the calls early, the investor could limit the risk in his portfolio. This statement is false because exercising a call option early typically does not limit risk; instead, an investor may lose the remaining time value of the option. The benefits of call options include loss limitation to the premium paid (option A), potential upward participation (option C), and added diversification until expiry (option D).
Note that with options trading, while it allows for diversification and potential profit if the underlying stock's price rises, it also comes with considerable risk. As per the advice by financial experts, most individual investors are better off avoiding options unless they fully understand the risks involved. Diversification through traditional means like mutual funds, which spread out investments across various assets, is often advisable to mitigate individual asset volatility.
When sales increase by 9%, which of the following should also increase by 9% in a merchandising company?(A) Variable cost(B) Fixed cost(C) Gross margin(D) Contribution margin(E) Net operating income
Final answer:
The answer to the student's question is that Variable cost should increase by 9% when sales increase by 9% in a merchandising company because variable costs move in direct proportion to sales volume.
Explanation:
When sales increase by 9% in a merchandising company, option (A) Variable cost should also increase by approximately 9%. Variable costs are directly tied to the level of production or sales volume, so they vary with changes in sales. When more products are sold, more resources are consumed to produce these products, which results in an increase in variable costs. Fixed costs (B) do not change with sales volume, so they would remain constant. Gross margin (C) is the difference between sales and the cost of goods sold, which includes variable costs, and could increase by a different percentage if the cost structure or pricing changes. The Contribution margin (D) is sales minus variable costs, and it would increase but not necessarily at the same rate as sales since it depends on the contribution margin ratio. Lastly, Net operating income (E) is affected by both variable and fixed costs, and it would only increase by 9% if all other factors remain constant, which is an oversimplification.