You are the chief financial officer of davidson industries. on multiple occasions, you have engaged in insider trading but have never been able to earn any abnormal returns. which form of market efficiency most likely exists given your situation?
What are your civic, leadership, and developmental activities that you believe have benefited or will benefit you professionally?
A new accountant at skysong, inc. is trying to identify which of the amounts shown below should be reported as the current asset "cash and cash equivalents" in the year-end balance sheet, as of april 30, 2017.
$17620
Petty Cash Fund = $60
Treasury bill = 10000
Deposit-In-Transit = 260
Cash-in-Bank = 7300
Total C&CE = $17620
Not included items are
Item 4: Postdated check is an Receivable
Item 7: Postage Stamps are Office Supplies
Item 8: IOU is a Receivable
Cash and cash equivalents are highly liquid assets that include actual cash, bank accounts, and short-term investments. They are essential for understanding a company's liquidity and should be accurately categorized on the balance sheet.
Identifying Cash and Cash Equivalents:
In accounting, cash and cash equivalents are assets that can be quickly converted into cash with minimal loss of value. These assets are typically reported on the balance sheet to reflect an organization’s liquidity.
The following items are usually considered to be cash and cash equivalents:
Actual cash on handBank accountsMoney market fundsTreasury billsShort-term government bondsWhen reviewing the amounts to be reported as cash and cash equivalents for Skysong, Inc. as of April 30, 2017, focus on highly liquid investments. Items like accounts receivable, taxes receivable, and prepaid expenses should not be included under cash and cash equivalents.
It's important to categorize assets correctly to provide an accurate picture of the company's financial health and liquidity.
In the study of geomorphology, why do we primarily concentrate on processes rather than on distribution patterns by latitude?
The tax on cigarettes in new york city is one of the highest in the nation—$5.85 per pack. does this tax raise a lot of revenue for new york city?
On march 1, bartholomew company purchased a new stamping machine with a list price of $85,000. the company paid cash for the machine; therefore, it was allowed a 5% discount. other costs associated with the machine were: transportation costs, $2,800; sales tax paid, $6,120; installation costs, $1,750; routine maintenance during the first month of operation, $2,700. the cost recorded for the machine was:
The total recorded cost for the machine purchased by Bartholomew Company is $91,420. This includes the discounted purchase price, transportation cost, sales tax and installation cost. Maintenance cost is not included as it is considered an operating cost.
Explanation:The subject matter is concerned with the total cost recorded for a stamping machine purchased by Bartholomew Company. The initial price for the machine was $85,000, however, a 5% cash discount is applied which reduces the amount by $4,250. Therefore, the net price paid for the machine can be deduced as $80,750. The other costs associated with the machine such as transportation costs ($2,800), sales tax paid ($6,120), and installation costs ($1,750) are capitalized and added to the machine's cost. However, routine maintenance costs of $2,700 incurred in the first month of operation are not capitalized as they are considered operating expenses. So, the total cost recorded for the machine would be
$91,420
($80,750 (purchase price after discount) + $2,800 (transportation costs) + $6,120 (sales tax) + $1,750 (installation costs)).
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If you injure yourself bungee jumping and sue the bungee jumping company, what might the bungee company claim in defense?
In a lawsuit for an injury obtained while bungee jumping, the company may defend themselves by claiming assumption of risk, adherence to safety measures, the existence of a waiver signed by the participant, or the absence of negligence on their part.
If you injure yourself bungee jumping and decide to sue the bungee jumping company, the company might invoke several defense arguments to protect themselves from liability. One common defense is the assumption of risk, which means that by participating in an inherently dangerous activity like bungee jumping, you knew there was a risk of injury and thus voluntarily assumed that risk. The company might also argue that they had taken all the appropriate safety measures, and the injury was an unforeseeable accident or that you failed to follow safety instructions provided.
Another potential defense could be based on the waiver or release form that most participants are required to sign before partaking in such activities. This form typically states that you agree not to hold the company liable for any injuries that occur as a result of the activity. Lastly, if there was no negligence or breach of duty on the part of the bungee jumping company, they may assert that since there was no fault at their end, they should not be held liable.
An investment will pay you $91,000 in five years. assume the appropriate discount rate is 6.25 percent compounded daily. what is the present value?
The present value of an investment that will provide $91,000 in five years, with a discount rate of 6.25% compounded daily, can be calculated using the formula for present value with daily compounding: PV = FV / (1 + r/n)^(nt), where r = rate, n = number of compounding periods, t = time and FV = future value. Substituting the given values into the formula will yield the present value.
Explanation:The subject of this question falls into the area of financial mathematics, more specifically the concept of present value. The present value is the current worth of a future sum of money or stream of cash flows given a specified rate of return. In this specific case, you want to know how much you should be willing to invest today in order to receive $91,000 in five years time assuming a discount rate of 6.25% compounded daily.
Here's the step-by-step process using the formula for calculating the present value compounded daily: PV = FV / (1 + r/n) ^ (nt). Present value (PV) is what we're trying to find. Future value (FV) is the $91,000 you expect in five years. The rate (r) is the discount rate of 6.25% (expressed as 0.0625 in calculations). n stands for the number of compounding periods in one year, so if compounding is daily, n is 365. And t is the time in years, which is 5 in this case.
So let's substitute these values into the formula, PV = $91,000 / (1 + 0.0625 / 365)^(365*5). After doing the calculations, the result you'd get is the present value of the investment.
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The biggest problems with producing too much are lost sales and customer dissatisfaction.
a. True
b. False
Country m wants member nations to harmonize their tax, monetary, and fiscal policies and wants to create a common currency. country m is requesting for the creation of a(n) ________ in the moonland nations
The country M is requesting an economic union. This is considered to be a type of trade bloc in which they have a custom union in regards with the common market that they have or composed of in which we could see how country m wants the member nations to have a harmonize tax, monetary and fiscal countries in creating a common currency.
The 50th repetition of a job is timed at 100 minutes. if the learning curve for this job is 90 percent, what is the estimated time for the 200th repetition of this job?
As a sojourner sent by her company, robin would like to spend some time establishing a friendship with a member of the new culture and exploring the countryside. these goals are called ______________ goals.
Robin's goals of building friendships and exploring the countryside in a new culture are termed cultural assimilation goals, reflecting a deep interaction with and learning from the local way of life.
The goals Robin has for spending time in a foreign land and establishing a friendship while exploring the countryside are referred to as cultural assimilation goals. Such goals are an essential component of adapting to a new environment, including learning a new language, understanding the new customs, and integrating oneself into the local culture.
By spending time with members of the new culture and exploring, Robin is hoping to build social connections that transcend cultural barriers and also gain a deeper appreciation and understanding of the host country's way of life. Similar experiences have been shared by travelers and sojourners throughout history, as described in various narratives where individuals immerse themselves into a local culture to find peace, harmony, and personal growth away from their familiar settings.
The bank discounts an $8,750 non-interest-bearing simple discount note at 6% for 60 days. what is the discounted amount?
What is the future value of $375 at an interest rate of 3 percent one year from today? a. $371.75 b. $393.33 c. $386.25 d. none of the above are correct to the nearest cent?
____ involves stealing another person's personal information, such as a social security number, and then using the information to impersonate the victim, generally for financial gain.
a. cyberterrorism
b. scam
c. identity theft
d. phishing
Malcolm's parents wanted him to be part of the family business—and malcolm planned to do so. then, at age 17, he decided to leave the business to study to be a lawyer. malcolm resisted
Jodi just described how best buy's new program required a very different way of defining work. because the hours are no longer imposed by the organization but are rather left up to the individual, best buy will need individuals with certain skills like time management and the ability to work independently. where would best buy include these requirements?
Bill Gates, Microsoft, is not an entrepreneur
True or False
Precision testing does fluid testing for several local hospitals. consider their urine testing process. each sample requires 12 seconds to test, but after 300 samples, the equipment must be recalibrated. no samples can be tested during the recalibration process and that process takes 30 minutes. what is the maximum capacity (samples/hour) of the process to test urine samples?
Barry discovers that an attacker is running an access point in a building adjacent to his company. the access point is broadcasting the security set identifier (ssid) of an open network owned by the coffee shop in his lobby. which type of attack is likely taking place?
The relationship between the interactive communication capabilities of the internet and customization is that
Ahmad was recently laid off from his job at big bank. when he was employed, he did not enjoy his job; however, now that his job is gone, he feels discouraged and hopeless. ahmad needs to change his attitude and can do so by
In 2011, harris optical lost $450,000 in missing merchandise. as a result, it developed a plan in which employees in 2012 would share half of each dollar under $450,000 that was lost. harris optical is using a ______ plan.
Harris Optical's plan to share half of each dollar saved under the previous year's loss amount with employees is known as a gainsharing plan. It is designed to incentivize employees to work together to reduce losses and improve the company's financial performance.
In 2011, Harris Optical lost $450,000 in missing merchandise and subsequently created a plan to motivate employees to reduce these losses. The company designed an incentive structure where employees would share half of each dollar saved under the $450,000 that was previously lost. This type of initiative is known as a gainsharing plan. Gainsharing is essentially a companywide program where employees are rewarded for performance improvements compared to past figures.
Through programs like this, the savings generated by reducing losses or increasing productivity are shared with employees, essentially tying their rewards to their collective performance. These types of plans encourage collaboration, ideas for improvement, and a vested interest in the success of the company, leading to potential turnaround from losses to profitability. Gainsharing is beneficial because it aligns the interests of the employees with the financial health of the organization.
A bag contains 10 marbles: 6 are green, 2 are red, and 2 are blue. Frank chooses a marble at random, and without putting it back, chooses another one at random. What is the probability that the first marble is green and the second is red? Write your answer as a fraction in simplest form.
A potential benefit of telecommuting is that it _____. reduces employee turnover regulates work routine increases interaction with coworkers separates work and home life
In the given choices above, the potential benefit of telecommunication is that it was able to provide a reduce employee turnover because its task was able to provide a technology of which information exchange is made easy and the employees are given benefits.
Yoonsuh, the chief technology officer at namkoong appliances, is in the process of identifying the results she wants her company to achieve next year. she knows where she wants her company to reach and also has an idea of how far off the desired mark the company will be along the way. she is most likely in the process of:
Sabrina decided to start selling lemonade on her street. the other kids in the neighborhood noticed that sabrina was making a lot of money selling lemonade. these kids decided to open their own lemonade stand. when they opened their own lemonade stand, the equilibrium price ________ and the equilibrium quantity ________
Project managers are ultimately responsible for quality management on their projects.
a. True
b. False
The act of supervising all activities and tasks required to maintain a desired level of excellence is known as quality management. The Project managers are ultimately responsible for quality management on their projects. Thus, the statement is true.
What is quality management?Quality management entails developing a quality policy, developing and implementing quality planning and assurance, as well as quality control and quality improvement. It ensures that an organisation, product, or service operates consistently well. It is made up of four major parts: quality planning, quality assurance, quality control, and quality improvement. Quality management is concerned not only with the quality of products and services, but also with the methods for achieving it.
In general, the project manager is in charge of the entire quality management process. Some projects may also require a quality assurance person or quality experts to play specific roles.
Therefore, quality management is the responsibility of the project manager.
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Glenn and mary's house was damaged by a hurricane in 2017. the fair value of their home before the hurricane was $150,000. after the hurricane, the fair value of their home was $125,000. they received $10,000 from their homeowners' insurance policy. what is their casualty loss deduction for 2017, if their adjusted gross income was $40,000?
Martin and jennifer are both interested in learning more about a company's cash. martin wants to know what the company's cash balance was at the end of their fiscal year. jennifer wants to know how the company gained and used cash over the past accounting period. which financial documents should they look at?