Answer:
$4,600
Explanation:
Data provided in the question:
Utility cost = $5,000
Operating level = 20,000 machine hours per period
Final utility cost = $4,000
Final operating level = 15,000
Now,
Variable cost per machine hour
= [Total cost at highest level-Total cost at lowest level] ÷ [ Highest level-Lowest level) ]
=[ 5000 - 4000 ] ÷ [ 20,000 - 15,000 ]
= $0.2 per machine hour
Therefore,
Fixed costs = $5,000 - [ 0.2 × 20,000 ]
= $1000
Total cost for 18000 machine hours
= [ 0.2 × 18,000 ] + 1000
= $4,600
Top managers of Marshall Industries predicted 2018 sales of 14,800 units of its product at a unit price of $9.50. Actual sales for the year were 14,600 units at $12 each. Variable costs were budgeted at 2.00 per unit and actual variable cost were $2.10 per unit. Actual fixed cost of 48,000 exceeded budget it fixed cost by 4,000.
Prepare a flexible budget performance report for the year. First,complete the flexible budget performance report through the contribution margin line, then complete the report through the operating income line.
Answer:
Budget Actual
$ $
Volume 14,600.00 14,600.00
Price 9.50 12.00
Sales 138,700.00 175,200.00
Variable cost Per unit 2.00 2.10
Total variable cost 29,200.00 30,660.00
Contribution Margin 109,500.00 144,540.00
Fixed cost 44,000.00 48,000.00
Operating Income 65,500.00 96,540.00
Explanation
First and foremost flexing a budget means revising the budget based on actual sales volumes, that is i what did above to calculate the margins as well as the operating income
ABC Corp. has a market price of $15 and a Price/Earnings multiple of 10. What was the corporation's Earnings Per Common Share?
Answer:
The correct answer is: $1,5.
Explanation:
The Price-to-Earnings ratio or P/E ratio is the relationship between a company's market value of per-share common stock and its earning per share. It is obtained by dividing the two factors previously mentioned and the result is the P/E ratio which is also called the multiple.
Thus, in the example:
P/E ratio = (market value per share) / (earning per share)
We can deduct:
Earnings per share = (market value per share) / P/E ratio
Then:
Earnings per share = $15/10
Earnings per share = $1,5
You are in charge of creating a podcast of an interview with the CEO of your company. The audio file will be posted on the company's website. You decide to make a transcript available so that audience members with hearing impairments will be able to read the interview.
Which measure of excellence in technical communication does this decision reflect
Answer:
The measure of excellence in technical communication that the decision would affect is accessibility.
Explanation:
The decision would extend the range of listeners of the podcasts and that would mean an increase in the number of audiences. As a CEO, the individual would be deemed to be as both, intelligent and compassionate. The decision would probably start a new trend in the discipline of podcasts where the competitors would also choose to do the same.With an ATM checking account, you are typically charged a fee if you use teller services (walk-in or drive-through).
True or False?
Answer:
With an ATM checking account, you are typically charged a fee if you use teller services is a false statement.
Explanation:
The ATM facility has been rolled out in order to dispense convenience to the users of cashless transactions or of withdrawing cash whenever need. This service is not charged as long as there are not any extra facilities demanded like that of international transactions. Charging a fee for using an ATM would decrease the number of its users drastically.One of the most popular reasons why thousands of people seek to go into the restaurant industry is:_______
One of the most popular reasons why thousands of people seek to go into the restaurant industry is the possible financial rewards
Explanation:
Positive Reinforcement: While there’s a time and place for constructive criticism, positive reinforcement can be just as effective in increasing productivity. When you reward restaurant staff members who go the extra mile, it boosts their confidence and desire to take on more responsibility
Employee Retention: Deciding to reward restaurant staff could help reduce employee turnover.
Team Building: Everybody wins (including you) when you reward restaurant staff for a job well done. After employees receive a great reward or prize, expect to see them working more closely together on future projects.
Contemporary best-selling management books often argue that customers are the most important element in the external environment. Do you agree
Answer:
NO, I DO NOT AGREE
Explanation:
External environment in management are those factors that can affect business operation either directly or indirectly. these factors are classified under macro and micro factors.
the micro environment factors are PESTLE
customer, suppliers, competitor, public perception,
the macro environment factors are PESTLE
P -political
E - Economic
S -Socio cultural
T - Technological forces
L - Legal
E - Environmental factors
All these factors are important elements to be considered in the day to day activities of an Organization. PESTLE is even a analysis tools use to control and monitor the operation of the bussiness.
Final answer:
The emphasis on customers as a crucial external element in management literature reflects their power to determine a company's success, and understanding economics can provide managers with a competitive advantage. However, executives often prefer less competition to ensure easier profit maximization.
Explanation:
Indeed, contemporary best-selling management books often emphasize that customers are the most important element in the external environment of a business. This perspective underlines the power that customers hold in making managerial decisions effective or ineffective, based on their choices to buy or not to buy a company's products or services. Customers determine the success of businesses through their purchasing power, as highlighted by the notion that "The Customer Is Always Right."
Additionally, it's argued that understanding economics can give managers a competitive advantage in creating value for the customers. However, the notion that top executives favor market competition is challenged by the preference for a monopoly or at least reduced competition to maximize profits, as competition could mean tougher conditions for maintaining high profit levels.
describe at least two cryptocurrencies with applicable examples. Discuss some similarities and differences
Answer:
Explanation:
Crypto currencies are a digital payment instrument. It is about creating a distributed, decentralized and secure digital payment system using cryptographic principles.
Bitcoin is a cryptocurrency, the creation and sharing of which is based on an open source cryptographic protocol and is not centrally based. Bitcoin can be transferred directly from a computer or smartphone without a third party financial institution. The security of Bitcoin transactions is ensured by servers called bitcoin miners. A user may have one or more bitcoin accounts to receive or transfer bitcoins to another account. Your Bitcoin account can be online or downloaded to your computer by downloading a program called a "digital wallet". The Bitcoin account consists of 33 characters, and the account number starts with 1 or 3.
Counos is a type of cryptocurrency similar to Bitcoin. This digital currency is based on a user-friendly peer-to-peer payment network. In this cryptocurrency type, a clean consecutive version of the electronic payment system for the creation and transfer of coins based on an open-source cryptographic protocol is occurring. This type cryptocurrency is a complex combination of privacy policy, bank regulation and technological innovations. There are some definitions in the Counas cryptocurrency. These include:
1) Counos Coin
This type of electronic coin is the same algorithm as the Bitcoin algorithm and can be issued for 16,800,000 coins and the alpha can produce the rest of the last 21,000,000 coins.
2) Counos Cash
Counos Cryptocurrency CSC was released by Int.GmbH Forks on July 30, 2018 through an open-source client on the ICO Lister website. The fixed price of the Swiss franc and the company itself, the sale of which is confronted with market prices or price reductions, is a signal of remittances and sales of goods and sales. This single currency has the same algorithm as the Counos Coin and is worth all 21 million coins and is equivalent to one gram of gold coin in the Swiss box as a support for the controlled person. The minimum price of this coin is 1 gram of gold and is practically copied without gold being converted into digital currency.
Cryptocurrencies are termed as digital currencies that are operated independently of banks and governments but can be exchanged – and speculated on – in the same way, that physical currency can.
The two types of cryptocurrencies are:
BitcoinsAltcoinsThe examples of two cryptocurrencies are:
The altcoin has been formed by combing two words: ALTernative COIN. Alternative coins to Bitcoin are referred to as altcoins. All other digital currencies, with the exception of bitcoin, are classified as alternative coins.
Altcoins comprise Litecoin, Ethereum, Ripple, Bitcoin Cash, NEO, and others.
Bitcoin is a publicly owned, digital form of currency that sends and receives payments securely using cryptography. Bitcoin is a type of digital currency that can be used to donate to a website like Wikileaks using a cell phone.
Many cryptocurrencies are blockchain-based decentralized systems that do not require a trusted third-party such as a central bank or credit card company to operate.
Peer-to-peer transfers are facilitated in this case by the use of private and public keys. Alternative coins, also known as alt-coins, include Litecoin and Monero. Some are forks or new cryptocurrencies that have split or derived from an existing one, while others are imitations of Bitcoin.
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PGP Co. expects to issue a $1,000 face-value bond that matures in 8 years. The annual coupon rate is 9% and interest payments are expected to be paid annually. Similar bonds are currently priced at 101.4% of face value. Given this information, what is the required return by bond holders
Answer:
Required return is 8.75%
Explanation:
Given,
FV (Face Value) is $1,000
PV (present Value) is computed as:
PV = FV × Price
= $1,000 × 101.4%
= $1,014
Nper (Number of years) is 8 years
PMT (Monthly payment) is computed as:
PMT = FV × Coupon rate
= $1,000 × 9%
= $90
r (Required return) is computed by using the excel formula:
=Rate(nper, pmt, pv, fv, type)
= Rate (8,90,-1014,1000,0)
= 8.75%
On March 1, 2018, Beldon Corporation purchased land as a factory site for $65,000. An old building on the property was demolished, and construction began on a new building that was completed on December 15, 2018. Costs incurred during this period are listed below: Demolition of old building $ 6,500 Architect’s fees (for new building) 17,000 Legal fees for title investigation of land 4,500 Property taxes on land (for period beginning March 1, 2018) 3,500 Construction costs 550,000 Interest on construction loan 7,500 Salvaged materials resulting from the demolition of the old building were sold for $2,500.
Required: Determine the amounts that Beldon should capitalize as the cost of the land and the new building.
Answer:
$73,500; $578,000
Explanation:
Capitalized cost of land:
= Purchase of land + Demolition of old building + Legal fees for title investigation - Salvaged materials resulting from the demolition
= $65,000 + $6,500 + $4,500 - $2,500
= $73,500
Capitalized cost of building:
= Construction costs + Interest on construction loan + Architect's fees + Property taxes (before construction to be capitalized
= $550,000 + $7,500 + $17,000 + $3,500
= $578,000
An increase in financial leverage generally results in a higher return on equity (ROE)
True or False?
Answer:
The statement is: True.
Explanation:
According to the DuPont analysis, three factors are influencing the increase of the Return On Equity (ROE): the efficiency of operations, the efficiency of the company's assets, and the financial leverage. The DuPont analysis studies those three factors and how they help the ROE to increase or decrease.
Amazon was an e-commerce leader with its rapid distribution of a wide array of products, but the firm now faces competition from eBay, Yahoo, and Google.This example illustrates the __________.
Answer: The difficulty of maintaining competitive advantage.
Explanation:
Amazon is experiencing difficulty in maintaining its competitive advantage in internet marketing, as other competitors are now gaining greater portions of it's market. Competitive advantage in marketing, are those qualities a business possess that enables it to dominate it competitors.
Sheridan Auto Supply does not segregate sales and sales taxes at the time of sale. The register total for March 16 is $26,400. All sales are subject to a 10% sales tax. Compute sales taxes payable, and make the entry to record sales taxes payable and sales revenue.
Answer and Explanation:
Compute sales taxes payable:
cash $26,400 -
sales revenue - $23,760
sales tax payable - $2,640
make the entry to record sales taxes payable and sales revenue:
sales tax payable $2,640 -
cash - $2,640
Answer:
Explanation:
Sales revenue x (100%+sales tax rate) = sales revenue with tax
sales revenue x 1.10 (100%+10%) = 26400
sales revenue = 26400/1.10
sales revenue = 24000
Sales revenue with tax - sales revenue = sales tax
26,400 - 24,000 = 2,400
journal entry
cash. 26,400
Sales revenue. 24000
Sales tax. 2400
Well-constructed goals provide a means by which the performance of managers can be evaluated. a. True b. False
Answer:
The correct answer is letter "A": True.
Explanation:
Achievement of goals can be considered as a factor to measure the performance of managers. If stated clearly, meaning establishing what the goal is, under what conditions it must be accomplished, and after what period, those objectives can determine if executives are doing what is necessary to manage the business properly.
Dimeback, Inc., is obligated to pay its creditors $7,400 during the year. Required: (a) What is the market value of the shareholders' equity if assets have a market value of $10,800? (b) What if assets equal $6,500?
Answer:
a. $3,400
b. $0
Explanation:
As we know
Total assets = Total liabilities + owners equity
a. In the first case
The shareholder equity would be
= Total assets - total liabilities
= $10,800 - $7,400
= $3,400
b. In the first case, the shareholder equity would be zero as it should not be negative. The negative value would be
= Total assets - total liabilities
= $6,500 - $7,400
= -$900
So it would be zero
Elenor Company sells 400 units of inventory for $40 each. The inventory originally cost Elenor $26 each. What is Elenor’s gross profit on this transaction?
Answer:
$5,600
Explanation:
Data provided in the question:
Number of units of inventory sold = 400 units
Selling cost of the inventory = $40 each
Original cost of the inventory = $26 each
Now,
Total inventory cost of the units sold = 400 × $26
= $10,400
Total selling cost of the inventory sold = 400 × $40
= $16,000
Therefore,
Elenor’s gross profit on this transaction
= Total selling cost of the inventory sold - Total inventory cost of the units sold
= $16,000 - $10,400
= $5,600
Elenor's gross profit is calculated by subtracting the total cost of inventory from the total sales revenue. With 400 units sold at $40 each and a cost of $26 each, the gross profit is $5,600.
Explanation:To calculate Elenor's gross profit on the transaction, we need to deduct the total cost of the inventory from the total sales revenue. First, we calculate the total sales revenue: 400 units sold at $40 each gives us $16,000. Next, we calculate the total cost of the inventory: 400 units purchased at $26 each costs Elenor $10,400.
Now, to find the gross profit, we subtract the total cost from the sales revenue: $16,000 - $10,400 = $5,600.
Therefore, Elenor's gross profit on this transaction is $5,600.
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On January 2, 2017, Coronado Corporation issued 31000 shares of 5% cumulative preferred stock at $100 par value. On December 31, 2020, Coronado Corporation declared and paid its first dividend. What dividends are the preferred stockholders entitled to receive in the current year before any distribution is made to common stockholders?
Answer:
$155,000
Explanation:
The amount of dividends that will be received by the Preferred stock holder before any dividend is made to the common stock holders shall be determined as follow:
Amount to be received by the Preferred stock holder=Number of preferred shares*Percentage on preferred shares*par value of preferred share.
Amount to be received=31,000*5%*100=$155,000
Keiko sells a piece of equipment used in her business for $14,853 on August 10, 2019. The equipment was purchased on January 4, 2018 at a cost of $12,849. Keiko has taken $3,855 of depreciation on the equipment. What is the amount and classification of the gain on the sale by Keiko?
Answer:
as per Section 1231 , gain = $2,004
as per Section 1245 here ordinary income = $3,855
Explanation:
given data
Sale value = $14,853
Original cost = $12,849
Depreciation = $3,855
solution
we know that by provisions when sale value is more than original cost
than there excess amount will be treated as the section 1231 capital gain
and that gain up to depreciation amount will be treated as ordinary income under the section 1245
so here we get here first total profit that is
total profit = $14,853 - $12,849 - $3,855
total profit = $5,859
so as per Section 1231
gain = $14,853 - 12,849
gain = $2,004
and
as per Section 1245
here ordinary income = $3,855
Ladders, Inc. has a net profit margin of 5.5 % on sales of $ 50.9 million. It has book value of equity of $ 40.9 million and total book liabilities of $ 28.6 million. What is Ladders' ROE? ROA? Note: Assume the value of Interest Expense is equal to zero.
Answer:
ROE=2.7995/40.9=6.84%
ROA=2.7995/69.5=4.03%
Explanation:
ROE
Return on equity of Ladder, Inc shall be calculated using the following formula:
ROE=Net profit/Equity
Net profit=5.5%*50.9=$2.7995 million
Equity=$40.9 million
ROE=2.7995/40.9=6.84%
ROA
Return on asset of Ladder, Inc shall be calculated using the following formula:
ROA=net profit/total assets
net profits=$2.7995 million
Total assets=Total equity+total liabilities
=40.9+28.6
=$69.5 million
ROA=2.7995/69.5=4.03%
Final answer:
Ladders, Inc.'s Return on Equity (ROE) is approximately 6.84%, calculated by dividing the net income by the shareholder's equity. The Return on Assets (ROA) is approximately 4.02%, found by dividing the net income by the total assets.
Explanation:
The student asks how to calculate a company's Return on Equity (ROE) and Return on Assets (ROA), using Ladders, Inc.'s financial data. To calculate the ROE, we use the formula: Net Income / Shareholder's Equity. With a net profit margin of 5.5% on sales of $50.9 million, Ladders' net income is $2.7995 million (0.055 * $50.9 million). The shareholder's equity is the book value of equity which is $40.9 million. Therefore, the ROE is $2.7995 million / $40.9 million, which gives approximately 6.84%.
For calculating ROA, the formula is: Net Income / Total Assets. Total assets are the sum of liabilities and equity, which is $28.6 million plus $40.9 million, equalling $69.5 million. The ROA would be the net income of $2.7995 million divided by total assets of $69.5 million, resulting in approximately 4.02%.
On August 15, we purchased equipment for $5,000. We paid $1,000 down with the remainder to be paid later. What account(s) would we credit when we journalize this entry? a. Cash and accounts payableb. Equipmentc. Equipment and accounts payabled. Accounts payable
Answer:
a. Cash and accounts payable
Explanation:
The journal entry to record this given transaction is shown below:
Equipment A/c Dr $5,000
To Cash A/c $1,000
To Account payable A/c $4,000
(Being the equipment is purchased for cash and on account)
Since the equipment is purchased for $5,000 that increase the asset account and the cash is paid for $1,000 so it would be credited plus the remaining amount is given on credit basis so we credited the account payable account
Answer:
a. Cash and accounts payable
Explanation:
Which term refers to the distinctive benefits that make a product different than any other
Answer:
Unique Selling Proposition (USP)
Explanation:
A unique selling proposition or unique product approval is a distinctive consumer motive, an alternative to image and “entertaining” advertising. USP is a part of the competitive advantage on the basis of which the client chooses a company or product (based on the properties of the product or service).
A unique selling proposition, according to the original theory, consists of three parts (implies the application of all approval points at the same time):
-Each advertising message contains an appeal to the buyer with a promise of specific benefits.
- The offer is formed in such a way that the competitor either cannot give it, or did not manage to put forward earlier.
-Offer must have great power to attract as many consumers as possible.
In marketing, the USP strategy is considered one of the main rational strategies for communicating with potential buyers, a strategy for advertising products.
-USP is determined not only by what is inherent in the product itself;
-USP is determined by what and how it is said about this product in advertising.
In order to skillfully use the UTP strategy in modern conditions, it is important for marketers to understand what kind of statements about a product are perceived as unique, and to be able to predict the features of perception of such advertising.
The task of the marketer, in relation to the USP, is the need:
-assessment of the conformity of the marketing proposal to the consumer's established notions of the integrated quality of the goods.
- anticipate unwanted reactions of potential consumers and try to neutralize them;
- evaluate the uniqueness of the competitors' offer and use a counter-proposal in communication or reveal another uniqueness;
What is the future value of a $980 annuity payment over six years if interest rates are 10 percent?
Final answer:
The future value of a $980 annuity payment over six years at a 10 percent interest rate can be found using the future value annuity formula, and is approximately $7,561.30.
Explanation:
The question asks for the future value of an annuity payment. When dealing with an annuity (a series of equal payments made at regular intervals), the future value can be calculated using the formula for the future value of an annuity due to compounded interest. Given a 10 percent interest rate, a $980 annuity payment, over six years, we can use the future value annuity formula:
FV = P × { [(1 + r)^n - 1] / r }
where:
FV = Future Value of the annuity
P = Payment amount per period ($980)
r = Interest rate per period (10% or 0.10)
n = Number of periods (6 years)
Plugging the values into the formula gives:
FV = $980 × { [(1 + 0.10)^6 - 1] / 0.10 }
FV = $980 × { [1.10^6 - 1] / 0.10 }
FV = $980 × { [1.771561 - 1] / 0.10 }
FV = $980 × { 0.771561 / 0.10 }
FV = $980 × 7.71561
FV ≈ $7,561.30
The future value of the $980 annuity payment over six years at an interest rate of 10 percent is approximately $7,561.30.
The IMA suggests that, when faced with an ethical dilemma, the first thing management accountants should do is call the IMA's ethics hotline to report the unethical behavior.
a. True
b. False
Answer:
False
Explanation:
Ethical dilemma is a situation where one is faced and has to decide on choosing between two-conflicting moral issues. Since ethical dilemma is present in all professions, Institute of Management Accountant provided a guideline which management accountants can follow to resolve the ethical dilemma. According to Institute of Management Accountant`s ethics guideline, the first thing management accountants should do when faced with ethical dilemma is to follow established policies of their organisations, not calling the IMA`s ethics hotline to report the unethical behavior. If the established policies in the organisation are not strong enough to resolve the issue, management accountants should inform their immediate supervisor. It`s after these two steps fail, that they can call the IMA`s ethics the issue.
So calling the IMA`s ethics hotline is not the first thing to do. Consequently, the answer is false.
The claim that management accountants should first call the IMA's ethics hotline when facing an ethical dilemma is false.
The statement that the IMA suggests that the first thing management accountants should do when faced with an ethical dilemma is to call the IMA's ethics hotline to report unethical behavior is false. While whistleblowing hotlines and ethics resources are important tools, it is recommended that individuals consider a range of actions when confronted with ethical issues.
This could include asking questions to bring attention to the problem, using facts or reason to discuss concerns, considering the consequences of actions, and being mindful of their own contributions to unethical behavior. It is essential for individuals to think about their own ethical values and be prepared to act in accordance with them, which may include, but not limited to, reporting unethical behavior.
Shen spends $200 to purchase legal service from Rowan and Martin Associates. Valerie spends $8 to order a mojito cocktail. Shen earns $375 per week working for Little Havana. Which of the elements of this scenario represent a flow from a household to a firm? This could be a flow of dollars, inputs, or outputs. Check all that apply. The $375 per week Shen earns working for Little Havana The $200 Shen spends to purchase legal service from Rowan and Martin Associates The mojito Valerie receives
The flows from a household to a firm are the $200 Shen spends on legal services and the labor Shen provides to Little Havana in exchange for his weekly earnings of $375.
Explanation:In this scenario, the elements representing a flow from a household to a firm are the $200 Shen spends to purchase legal service from Rowan and Martin Associates and the $375 per week Shen earns working for Little Havana. Here's why:
When Shen pays $200 for legal services, this is a flow of dollars from Shen (a household) to Rowan and Martin Associates (a firm).The $375 Shen earns weekly is a flow of dollars from Little Havana (a firm) to Shen (a household). However, in exchange for this income, Shen is providing labor to Little Havana, which is an input to the firm from the household.Learn more about Economic Flow here:https://brainly.com/question/33276150
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A property title search firm is contemplating using online software to increase its search productivity. Currently an average of 40 minutes is needed to do a title search. The researcher cost is $2 per minute. Clients are charged a fee of $400. Company A’s software would reduce the average search time by 10 minutes, at a cost of $3.50 per search. Company B’s software would reduce the average search time by 12 minutes at a cost of $3.60 per search. What option would have highest productivity in terms of revenue per dollar per input?
Answer:
Explanation:
Productivity per unput dollar=Fees charged from clients/total cost to firm
There are 3 options:
1. Using current software:
Av time=40 min
Researcher's cost=$2 a min
Total cost=40*2=80
Productivity per dollar input=Fees charged from clients/total cost to firm= 400/80=$5
2.
Using company A's software
Av time=30min
Cost of reducing av time=$3.5
Researcher's cost=$2
Total =30*2+3.5=63.50
Productivity per dollar input=400/63.5=6.3
3.
Using company B's software
Av time = 28 min
Cost of reducing av time=$3.6
Researcher's cost=$2
Total cost=28*2+3.6=59.6
Productivity per dollar input=400/59.6=$6.71
Answer - Using company B's software
In this problem, you will be given three errors that may or may not affect the trial balance. You are to determine the following:(1) As a result of each error, will the trial balance still balance? Consider each error separately. If you determine that the trial balance will not balance as a result of the error, then answer the following questions:(2) What is the amount of the difference between the two columns of the trial balance? (3) Which trial balance column (debit or credit) will have the larger total?A. A payment of $490 on account for supplies previously purchased was recorded as a debit to Supplies Expense and a credit to Cash for $490B. A payment of $150 on account for supplies previously purchased was recorded as a debit to Accounts Payable for $150 and a credit to Cash for $510C. The $875 balance in Service Revenue was listed as a debit.
Answer:
1) This error will not effect balancing of trial.
2) Total difference in both columns will be of $500 and credit side of trial balance will have larger balance.
3) Total difference in both columns will be of $1,750 and debit side will exceed from credit side.
Final answer:
Error A does not affect the balance of the trial balance, whereas errors B and C cause imbalances. Error B results in a credit column excess of $360, and error C results in a debit column excess of $875.
Explanation:
Analysis of Trial Balance Errors
When analyzing trial balance errors, it is important to understand the effects each error has on the balance sheet. Looking at the presented errors one by one:
Error A: Since the transaction is correctly debited to Supplies Expense and credited to Cash for the same amount ($490), there is no effect on the trial balance equation. Both sides remain equal, and the trial balance will still balance.Error B: A payment recorded with a debit to Accounts Payable for $150 and a credit to Cash for $510 creates a discrepancy of $360. The trial balance will not be balanced due to this discrepancy. The credit column will have a larger total by the amount of $360.Error C: Listing the balance of Service Revenue, which should be a credit, as a debit creates an imbalance. This shifts the balance by $875, and the debit column will be larger by this amount.In summary, errors B and C will result in an unbalanced trial balance with disparities in respective columns based on the nature of the errors.
All of the following are examples of total quality management practices except____________.
A)reduction in the movement required in a manufacturing job.
B) redesign of a product to reduce its parts by 50 percent.
C) separating the sales and services functions.
D) raisingraw material quality standards.
Answer:
C) separating the sales and services functions.
Explanation:
Total quality management refers to a method used by management to enhance quality and productivity in business. It puts a highlight on the processes that organizations use to manufacture their products, and it calls for organizations to characterize those processes and also persistently monitor and degree their execution, and utilize that execution information to drive improvements.
Therefore, Separating the sales and services functions is not involved in the processes of the Total quality management.
Total Quality Management (TQM) is a business practice aimed at enhancing quality and customer satisfaction. Examples are reducing required movement in manufacturing, redesigning a product to reduce parts, and improving raw material standards. However, separating sales and services functions isn't typically heard of as a TQM practice.
Total Quality Management (TQM) refers to a management approach for the long-term success of an organization through customer satisfaction. In TQM, all members of an organization actively participate in improving processes, goods, and services. Examples of TQM practices are: reduction in the movement required in a manufacturing job, redesign of a product to reduce its parts by 50 percent, and raising raw material quality standards. These practices aim to improve the overall quality and efficiency of business operations.
However, the practice of separating the sales and services functions is not typically considered a TQM practice. TQM involves integrating all business processes and functions to work harmoniously in enhancing quality and customer satisfaction, thus separation of functions does not foster this aim.
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On December 31, 2017, Hattie McDaniel Company had $1,200,000 of short-term debt in the form of notes payable due February 2, 2018. On January 21, 2018, the company issued 25,000 shares of its common stock for $38 per share, receiving $950,000 proceeds after brokerage fees and other costs of issuance. On February 2, 2018, the proceeds from the stock sale, supplemented by an additional $250,000 cash, are used to liquidate the $1,200,000 debt. The December 31, 2017, balance sheet is issued on February 23, 2018. Show how the $1,200,000 of short-term debt should be presented on the December 31, 2017, balance sheet. (Enter account name only and do not provide descriptive information.)
Final answer:
The $1,200,000 of short-term debt should be listed as 'Notes Payable' under current liabilities on the December 31, 2017, balance sheet, reflecting the obligation that existed at that date even though it was subsequently paid off with the proceeds from a stock issuance.
Explanation:
The $1,200,000 of short-term debt should be classified on the December 31, 2017, balance sheet as a current liability, given that the debt is due within the upcoming year.
However, considering that the company has raised enough funds to cover the debt through the issuance of common stock, and the balance sheet is issued after the stock sale but before the debt payoff, the treatment of this item can reflect the post-balance-sheet event which provides evidence about conditions that existed at the balance sheet date.
Therefore, the $1,200,000 should still be presented as a Notes Payable under current liabilities on the balance sheet dated December 31, 2017.
Suppose we have a 2-person world, with only Stephen and his friend LeBron. Suppose that Stephen can move 70 boxes or bake 28 cookies in an hour. Suppose that LeBron could move 16 boxes or bake 4 cookies in an hour. Is trade possible?
A. No, trade isn’t possible, because LeBron has an absolute advantage in both making cookies and moving boxes.
B. Yes, trade is possible. Stephen should move boxes while LeBron makes cookies, because Stephen has a comparative advantage in moving boxes, whereas LeBron has a comparative advantage in making cookies.
C. Yes, trade is possible. Stephen should make cookies while LeBron moves boxes, because Stephen has a comparative advantage in making cookies and LeBron has a comparative advantage in moving boxes.
D. No, trade isn’t possible, because Stephen has an absolute advantage in both making cookies and moving boxes.
Answer:
Option (c) is correct.
Explanation:
Stephen can move 70 boxes or bake 28 cookies in an hour:
Opportunity cost of producing a box = (28 ÷ 70)
= 0.4 cookies
Opportunity cost of producing a cookie = (70 ÷ 28)
= 2.5 boxes
LeBron could move 16 boxes or bake 4 cookies in an hour:
Opportunity cost of moving a box = (4 ÷ 16)
= 0.25 cookies
Opportunity cost of making a cookie = (16 ÷ 4)
= 4 boxes
Therefore,
Stephen has a comparative advantage in making cookies because the opportunity cost of making cookies is lower than the LeBron.
LeBron has a comparative advantage in moving boxes because the opportunity cost of moving boxes is lower than the Stephen.
Yes, the trade is possible.
Stephen should make cookies and LeBron should move boxes.
What do you believe are the two most significant components of the medical billing workflow?
Answer:
Explanation:
Six critical components for medical calculation (the first two are the most important):
1: Eliminate confusion that it is really an invoice.
Insured patients often receive two service-related communications - a certificate of benefit from an insurance company (EOB) and an invoice from a health care professional. EOBs usually include service history, work done, who the provider is, the amounts allowed under the insurance plan, adjustments, deductions and patient liability.
2: Make sure the patients know what the invoice is.
For recurrent patients, there may be confusion as to what service or design the bill is about. Specify the date of service, medical care, and services provided so that the patient can see the amount paid.
3: Provide clear line items showing prepaid patient payments (co-payments) and contributions from the insurance company.
Explain to patients what credits are already used in the invoice. This can help insurers understand what they contribute, personal responsibility, and promote timely payments.
4: Provide invoices as patients wish to receive.
For some patients, paper invoices may be the method they choose to consult with health care providers. For others, electronic invoices may be more appropriate. Paper sheets can offer patients the opportunity to pay by check, write their payment card information, or use an online portal that supports one-time guest payments. Electronic invoices can reduce the cost of printing and shipping paper invoices, eliminate delays in document invoices, and provide direct access to online portals where they can edit and manage their billing practices.
5: Provide patients with different options to pay.
As patients prefer paper or electronic invoices, they have choices about how they want to pay. Some love the convenience of paying with a credit card, while others may opt for cash, check or debit card transactions. From billing solutions that support multiple payment methods and payment channels to credit card transactions on mobile devices, one billing solution can increase your ability to pay on time.
6: Help patients along the way.
No matter how much a health worker strives to meet the needs of his patients, patients will have questions regarding referral reports. Useful support professionals (both online and by phone) can provide easy access, help patients better understand their laws and encourage their timely payment.
The two most significant components of the medical billing workflow are Patient Registration and Claims Submission. Patient Registration involves gathering and updating the patient's information, while Claims Submission involves billing the insurance company for services provided.
Explanation:In my opinion, the two most significant components of the medical billing workflow are Patient Registration and Claims Submission. Patient Registration is the first and one of the most crucial steps where a record of each patient is created or updated, including their medical history, current diagnosis, and insurance details. Incorrect information in this stage may lead to claim denials later. Claims Submission, on the other hand, is the stage when the healthcare provider submits a claim to the insurance company for the services provided. Any errors in coding, documentation, or submission can result in rejected or denied claims, hyrting the efficiency of the entire process.
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Deluxe Company expects to pay a dividend of $2 per share at the end of year 1, $3 per share at the end of year 2, and then be sold for $32 per share at the end of year 2. If the required rate of return on the stock is 15 percent, what is the current market value of the stock?
Answer:
The current price of the stock is $28.20
Explanation:
The stock rate of return is 15% this includes both, the dividends and capital gains. Therefore, we should discount our expected cash flow at the required return rate:
Year 1:
2 / (1 + 0.15) = 2 / 1.15 = 1.73913
Year 2:
(3 dividends + 32 stock) / 1.15^2 = 35/ 1.3225 = 26.4650
Then we add both discounted cash flow:
1.73913 + 26.4650 = 28.20413
The current market value of the Deluxe Company stock is calculated by discounting the future dividends and sale price using a 15% rate of return. It amounts to $28.2377 per share after adding the present values of the expected dividends and the sale price together.
To calculate the current market value of the Deluxe Company stock, considering the expected dividends and the sale price at the end of year 2, we would discount these future cash flows back to their present value using the required rate of return, which is 15%. The present value of the year 1 dividend ($2) is calculated by dividing $2 by (1+0.15)1. The present value of the year 2 dividend ($3) is calculated by dividing $3 by (1+0.15)2. And finally, the present value of the sale price ($32) at the end of year 2 is calculated by dividing $32 by (1+0.15)2. Adding these present values together gives us the stock's current market value.
The present value calculations for each cash flow stream are:
Year 1 dividend: $2 / (1.15)1 = $1.7391
Year 2 dividend: $3 / (1.15)2 = $2.2660
Sale price at the end of year 2: $32 / (1.15)2 = $24.2326
Adding these up, the current market value of the stock is $1.7391 + $2.2660 + $24.2326 = $28.2377 per share.