Answer:
Collaborative problem-solving abilities
Explanation:
This ability will help the new employee to communicate effectively with the team members and also contribute towards solving problems related to production processes. This skill is critical for the success of the team as well as the team members and the business at large.
The hiring target achieved by the staffing support has been communication with problem solving ability.
The team has been the groups of members that work collaborate on a subject to achieve the end result. The team leader has been playing an important role in supporting the action and work of team members and also mediated a flow of information.
The healthy communication results in the solving the problems faced by the team members. It has a success rate with good working environment and the increase in the production, with negligible loss.
The ability of communication with problem solving ability has been targeted to achieve hiring initiate for a team.
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Blue Corporation leased equipment to Larkspur, Inc. on January 1, 2017. The lease agreement called for annual rental payments of $1,148 at the beginning of each year of the 3-year lease. The equipment has an economic useful life of 7 years, a fair value of $7,200, a book value of $5,200, and Blue expects a residual value of $4,700 at the end of the lease term. Blue set the lease payments with the intent of earning a 6% return, though Larkspur is unaware of the rate implicit in the lease and has an incremental borrowing rate of 8%. There is no bargain purchase option, ownership of the lease does not transfer at the end of the lease term, and the asset is not of a specialized nature. Click here to view the factor table. (For calculation purposes, use 5 decimal places as displayed in the factor table provided.) What is the amount of the rental payments used in the lease agreement? (Round answer to 0 decimal places, e.g. 5,275.) Rental payments $
Prepare the entries for Blue for 2017. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. Round answers to 0 decimal places, e.g. 5,275.) Date Account Titles and Explanation Debit Credit 1/1/17 12/31/17 (To record the recognition of the revenue) 12/31/17 (To record depreciation expense on the leased equipment) How would Blue’s accounting in part (a) change if it incurred legal fees of $800 to execute the lease documents and $700 in advertising expenses for the year in connection with the lease? (Credit account titles are automatically indented when the amount is entered. Do not indent manually. Round answers to 0 decimal places, e.g. 5,275.) Date Account Titles and Explanation Debit Credit 1/1/17 Over the course of the year 12/31/17
Answer: see the pictures attached
Explanation:
A competitive strategy of striving to be the low-cost provider is particularly attractive when: a. Most rivals are trying to be best-cost providers. b. Most buyers use the product in much the same ways, with user requirements calling for a standardized product. c. Most rivals are pursuing focused low-cost or focused differentiation strategies.
Answer:
The correctt answer is b. Most buyers use the product in much the same ways, with user requirements calling for a standardized product.
Explanation:
Striving to be the representative of the overall low costs of the industry is a powerful competitive approach in the markets with many price-sensitive buyers. A company achieves the leadership of low costs when it becomes the one that provides the products with the lowest costs and is not only one of perhaps several competitors with comparatively low costs. The strategic objective of a low cost company is to reduce them significantly more than its rivals of similar quality. When claiming a cost advantage over rivals, administrators should be careful to include the features and services that buyers consider essential: offering a product too austere undermines the attractiveness of the company's product and can drive buyers away, although its price is lower than competing products.
To achieve maximum efficiency, companies that use a low cost strategy need to get their cost advantage in ways that rivals find it difficult to copy or match. If it is relatively simple or cheap for competitors to imitate the leader's low cost methods, their advantage will last shortly to generate a valuable market advantage.
Estimates based on the assumption that historical data can be used as a frame of reference for current estimates are: Ballpark estimates. Feasibility estimates. Comparative estimates. Definitive estimates.
Answer:
The correct answer is letter "C": Comparative estimates.
Explanation:
In project management, comparative estimates are forecasts carried out comparing previous project's information. The purpose of conducting such an analysis is to have an idea of what is the amount of money necessary to conduct a new project. The estimation is what its name describes, just an estimate but help managers to allocate the resources they have and request those who may be necessary for the operations of the new plan.
Using the following accounts and an overhead rate of 80% of direct labor cost, determine the amount of applied overhead. Work in Process Inventory Beginning WIP 18,300 Direct Materials54,900 Direct Labor
Answer:
Allocated MOH= Estimated manufacturing overhead rate* Actual amount of allocation base
Explanation:
Giving the following information:
Overhead is applied base on an estimated overhead rate of 80% of direct labor cost.
We weren't provided with enough information to calculate the allocated overhead. But, I will give a numerical example as well as the formula:
To allocate overhead, we need to use the following formula:
Allocated MOH= Estimated manufacturing overhead rate* Actual amount of allocation base
For example:
Direct labor= $50,000
Allocated overhead= 0.8*50,000= $40,000
Night Shades, Inc. (NSI), manufactures biotech sunglasses. The variable materials cost is $11.13 per unit, and the variable labor cost is $7.29 per unit. a. What is the variable cost per unit? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) b. Suppose the company incurs fixed costs of $875,000 during a year in which total production is 190,000 units. What are the total costs for the year? (Do not round intermediate calculations and round your answer to the nearest whole number, e.g., 32.) c. If the selling price is $44.99 per unit, does the company break even on a cash basis? If depreciation is $435,000 per year, what is the accounting break-even point? (Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16.)
Answer:
Part a. What is the variable cost per unit?
Variable Cost per Unit is $ 11.13+ $ 7.29 = $18.42
Part b. What are the total costs for the year?
Production for the year is 190000 units
Calculation of Total Production = Variable costs + Fixed Costs
= 190000 units × $18.42 + $875,000
=$ 4,374,800
Part c. If the selling price is $44.99 per unit, does the company break even on a cash basis?
The Company Breaks Even when
Total Sales Revenue = Total Production Costs
Total Sales Revenue = $44.99 × 190000
= $ 8,548,100
Total Sales Revenue $ 8,548,100 > Total Production Costs $ 4,374,800
Therefore Company does break even on a cash basis
Part c. If depreciation is $435,000 per year, what is the accounting break-even point?
Total Production Costs = $4,374,800+$435000
= $4,809,800
Therefore accounting break-even point is $4,809,800 Sales
Explanation:
Part a. What is the variable cost per unit?
Variable Cost are costs which Vary with the level of Activity.
Part b. What are the total costs for the year?
Calculation of Total Production Costs= Variable costs + Fixed Costs
Part c. If the selling price is $44.99 per unit, does the company break even on a cash basis?
Break-Even Point is the Point when the company neither makes a profit or a loss
Total Sales Revenue $ 8,548,100 > Total Production Costs $ 4,374,800
Therefore Company does break even on a cash basis
Part c. If depreciation is $435,000 per year, what is the accounting break-even point?
In simple terms the break even point in Sales Revenue is equal to all Variable plus fixed costs
According to the question, the following conditions are as follows:
a. The variable cost per unit is $18.42.
b. The total costs for the year are $4,374,800.
c. The accounting break-even point is 49,303.73 units.
The amount of product generated determines the fluctuation in variable costs. Raw materials, labor, and commissions are examples of variable costs. Regardless of the level of production, fixed expenses stay constant.
Here,
(a) Calculate the variable cost per unit as follows:
Variable cost per unit = Variable materials cost + Variable labor cost
Variable cost per unit = $11.13 + $7.29
Variable cost per unit = $18.42
Therefore, the Variable cost per unit is $18.42.
(b) Calculate the total cost as follows:
Total costs = Variable cost per unit x Number of units produced + Fixed costs
Total costs = $18.42 x 190,000 + $875,000
Total costs = $4,374,800
Therefore, the total cost is $4,374,800.
(c) Calculate the accounting break-even point as follows:
Accounting Breakeven Point = (Fixed costs + Depreciation) / Contribution margin per unit
Accounting Breakeven Point = ($875,000 + $435,000) / $26.57
Accounting Breakeven Point = 49,303.73 units
Working Note:
Calculate the contribution margin per unit as follows:
Contribution margin per unit = Selling price per unit - Variable cost per unit
Contribution margin per unit = $44.99 - $18.42
Contribution margin per unit = $26.57
Calculate the cash breakeven point as follows:
Cash Breakeven Point = Fixed costs / Contribution margin per unit
Cash Breakeven Point = $875,000 / $26.57
Cash Breakeven Point = 32,931.88 units
Therefore, the accounting break-even point is 49,303.73 units.
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Towson Corp., had 6,000 shares of $100 par, 4% cumulative preferred stock as of January 1, 2018. No additional shares of preferred stock were issued during fiscal years 2018 & 2019. Dividends were paid to common shareholders in 2017 but no shareholders were paid dividends in 2018. A total of $85,000 of dividends was paid in 2019. Use this information to determine the total dollar amount of dividends that was paid to common shareholders during fiscal year 2019.
Answer:
Common Dividend paid in 2019 = $37,000
Explanation:
Given:
Number of shares = 6,000
Rate = 4% = 0.04
Share price = $100
Computation of per year Dividend
Dividend = Number of shares × Share price × Rate
Dividend = 6,000 × $100 × 0.04 = $24,000 per year
Preferred dividend for 2 years = $24,000 × 2 = $48,000
Computation of Dividend paid in 2019:
Total Dividend paid = $85,000
Preferred dividend for 2 years = $24,000 × 2 = $48,000
Common Dividend paid in 2019 = $85,000 - $48,000
Common Dividend paid in 2019 = $37,000
The contract size for platinum futures is 50 troy ounces. Suppose you need 500 troy ounces of platinum and the current futures price is $1,265 per ounce. How many contracts do you need to purchase? How much will you pay for your platinum? What is your dollar profit if platinum sells for $1,290 a troy ounce when the futures contract expires? What if the price is $1,210 at expiration?a. Contracts to purchase b. Purchase price c. Dollar profit at $1,290 d. Dollar profit at $1,210
Answer:
Explanation:
a) Contract to purchase = 500 troy ounces / 50 = 10 contracts
b) Purchase price = 500 ounces × $ 1265 = $ 632500
c) Dollar profit at $ 1290 = 500 ( $ 1290 - $ 1265) = $ 12500
d) Dollar profit at $ 1290 = 500 ( $1210 - $1265) = $- 27500
The given statement is "The contract size for platinum futures is 50 troy ounces. Suppose you need 500 troy ounces of platinum and the current futures price is $1,265 per ounce. How many contracts do you need to purchase? How much will you pay for your platinum? What is your dollar profit if platinum sells for $1,290 a troy ounce when the futures contract expires? What if the price is $1,210 at expiration?" a. Contracts to purchase: 10 contracts b. Purchase price: $12,650 c. Dollar profit at $1,290: $12,500 d. Dollar profit at $1,210: -$27,500
Let's break down the questions one by one:
a. Contracts to purchase:
To purchase 500 troy ounces of platinum using platinum futures with a contract size of 50 troy ounces each, you would need:
Contracts = Total Ounces Needed / Ounces per Contract
Contracts = 500 ounces / 50 ounces per contract
Contracts = 10 contracts
So, you would need 10 platinum futures contracts to purchase 500 troy ounces of platinum.
b. Purchase price:
To calculate the purchase price, you would multiply the number of contracts by the current futures price:
Purchase Price = Contracts x Current Futures Price
Purchase Price = 10 contracts x $1,265 per ounce
Purchase Price = $12,650
You would pay $12,650 for your 500 troy ounces of platinum.
c. Dollar profit at $1,290:
If the platinum price is $1,290 per troy ounce at contract expiration, you can calculate your profit as follows:
Profit = (Selling Price - Purchase Price) x Total Ounces
Profit = ($1,290 - $1,265) x 500 ounces
Profit = $25 x 500 ounces
Profit = $12,500
Your dollar profit would be $12,500 if platinum sells for $1,290 a troy ounce when the futures contract expires.
d. Dollar profit at $1,210:
If the platinum price is $1,210 per troy ounce at contract expiration, your profit would be:
Profit = (Selling Price - Purchase Price) x Total Ounces
Profit = ($1,210 - $1,265) x 500 ounces
Profit = (-$55) x 500 ounces
Profit = -$27,500
Your dollar profit would be -$27,500 (a loss) if platinum sells for $1,210 a troy ounce when the futures contract expires.
Please note that futures trading involves significant risk, and this calculation assumes a simple scenario without considering trading costs, margin requirements, and other factors.
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On June 1 of the current tax year Elisha and Ezra (who are equal partners) contribute property to form the Double E Partnership. Elisha contributes cash of $456,480. Ezra contributes a building and land with an adjusted basis and fair market value of $760,800, subject to a liability of $304,320. The partnership borrows $47,550 to finance construction of a parking lot in front of the building. At the end of the first year (December 31), the accrual basis partnership owes $19,020 in trade accounts payable to various creditors. The partnership reported net income of $71,325 for the year, which they share equally. Assume that Elisha and Ezra share equally in partnership liabilities. How much is Elisha's basis in the partnership interest on December 31? Ezra's? Round interim and final answers to whole dollars.
Elisha's basis: $ 677588
Ezra's basis: $ 677588
Answer:
Elisha Basis in Partnership is $ 677,588.
Ezra Basis in Partnership is $ 677,588.
Explanation:
Partnership is kind of business where two or more person contributes capital according to agreed ratio and share profit and losses according to agreement of partnership called partnership deed.
Partnership basis can be calculated as follows:
Elisha Basis in Partnership
Description Amount
Contribution in Cash 456,480
+ Contributed Land liability share 152,160 ---- (304320/2)
+ Construction debt share 23,775 ----- (47550/2)
+ Account Payable Share 9,510 ----- (19020/2)
+ Net Income Share 35,663 --- (71325/2)
Elisha basis in Partnership $ 677588
Ezra Basis in Partnership
Description Amount
Building & Land 760,800
- Debt of partnership (304320)
+ Contributed Land liability share 152,160 ---- (304320/2)
+ Construction debt share 23,775 ----- (47550/2)
+ Account Payable Share 9,510 ----- (19020/2)
+ Net Income Share 35,663 --- (71325/2)
Ezra basis in Partnership $ 677588
Outlines give you a chance to organize your thinking before determining word choice and sentence structure. Which of the following create a more effective outline? Check all that apply.
a. Make each subpoint exclusive
b. Avoid single items under major components
c. Allow subpoints to overlap
d. Separate the main topic from the title
e. Break subpoints into major components
f. Divide the main topic into major components
Answer:
The correct answers are letters "A" and "E": Make each subpoint exclusive; Break subpoints into major components.
Explanation:
Outlining implies defining the main idea within the tittle first. Then, the main topic should be divided into major components, between three to five if possible. The components must then be divided into major subcomponents. In the case of having single subcomponents, they should be related to the component above or below. Each subcomponent must be exclusive and explained in detail.
"Much of the information that allows decision makers to run their organizations effectively in the digital age comes to them in the form of ________."
Answer:
The correct answer is letter "B": reports.
Explanation:
Financial reports are the accounting statements managers request to find out what the performance of the company is. Based on that information that could be digitally formatted, top executives can decide what course the firm should take. If the current strategy is not working as expected, adjustments could be made or new strategies can be adopted to run the business effectively.
Answer:
The question is missing the options which are below:
Web searches
reports
Wikipedia entries
employees' comments during meetings
The correct option is reports
Explanation:
Web searches as an option is wrong because the information available online is tailored to a specific business,hence cannot be implemented in their current state.
Wikipedia entries refer to generic information a business can adopt best practice from.
Employees' comments during meetings are a valid of source of information to run the business with, however they should be subjected to a well researched and detailed analysis,hence reports are a better source of management's insights.
Pam has been a highly valued production manager for a national grocery store chain for the last ten years, but she has been unable to move into the top management jobs, positions that are all held by men. What is Pam likely facing?
Answer:
Glass ceiling
Explanation:
Glass ceiling is An unrecognized obstacle to advancement in the profession, affecting in particular women and representatives of minorities, it is seen as an invisible barrier that keeps a given individual from rising beyond a certain level in a hierarchy.
Cases of glass ceiling includes where women and often minorities are held down in the work place never advancing past a certain point.
At many municipal golf courses, local residents pay a lower fee to play than other golfers do. One necessary condition for the golf course to be able to successfully price discriminate according to residency is that
a.they can check the identification cards of golfers.
b.local resident golfers and other golfers have the same price elasticity of demand to play at the municipal course.
c.there are many golf courses nearby from which golfers can choose.
d.they require all golfers to rent a cart
The correct option is - A (they can check the identification cards of golfers).
Explanation:
Price discrimination is generally a belief that consumers may be asked to pay either more or less based upon the various points on demographic features. They may also price according to the value of goods or services provided to them.
Thus, in the given case, in order to discriminate the price for the golf players, it is essential to check their cards identifying them as the residents of such place
Practitioners agree that the purpose of ______ is to "help an organization understand its behavior and its present situation—what’s going on, how it’s going on—so that something can be done about it.
Answer:
The options for answering this question are:
to. feedback
b. data gathering
c. interviews
d. diagnosis
The correct answer is: d. diagnosis
Explanation:
The Business Diagnosis is a simple and very useful tool for the purpose of knowing the current situation of an organization and the problems that prevent its growth, survival or development. It is a process of several studies carried out in the production, services and production companies. Commerce. It allows us to identify and know a series of problems to propose an action plan that guides the future of the organization.
The main objective of the business diagnosis is the location and analysis of existing failures at different levels in the company, and to be able to come up with a range of solution alternatives based on an action plan that is consistent with the comprehensive analysis of the organization.
The diagnosis should be in the shortest possible time and the plan that you prepare for this purpose should show how to obtain good results, preferably in the short term.
Macarty Company's Prepaid Insurance account had a balance of $2,700. It was determined that $1,500 of the Prepaid Insurance had expired. The adjusting entry for Insurance Expense for the year would be__________.
Complete question:
At December 31, 2013, before any year-end adjustments, Macarty Company's Prepaid Insurance account had a balance of $2,700. It was determined that $1,500 of the Prepaid Insurance had expired. The adjusted balance for Insurance Expense for the year would be
A.$1,500. B.$1,200. C.$2,700. D.$1,900
Answer:
The adjusted balance for Insurance Expense for the year would be $1,500
Explanation:
The investment of premium costs ends each year with a null investment and rises as the account is debited over the year. The balance in the accrued asset plan will continue by the close of the financial year before the next financial year.
When you purchase an premium, debit an rise in the benefit in your accrued expense account. And the Bank statement is listed to indicate financial deficit. Change the accounts every month to the sum of the scheme.
The adjusting entry would recognise insurance expense of $1,500
George, the financial manager of a firm, executes his tasks with commitment. He takes his responsibilities seriously. Which of the following characteristics of leadership does George possess?
A) adaptability
B) empathy
C) conscientiousness
D) relationship management
Option C
conscientiousness characteristics of leadership George possesses.
Explanation:
Conscientiousness, one of the leadership qualities, indicates the extent to which a person is trustworthy, reliable, pursues and is achievement-oriented. Conscientious leaders participate in various ways. One process is becoming precariously all the habitual roles of leaders and shaping those characters.
The conscientious leader strives arduous to accomplish everything needed by the organization and infrequently loses the ball. The conscientious leader acts ethically and demands others to do so as well. Leaders with great conscientiousness are correlated with great achievement.
When auditors conclude that a material and pervasive departure from GAAP exists in an entity's financial statements, which of the following phrases would most likely be included in their report
Do not present fairly in all material respects
Answer:
Do not present fairly in all material respects
Explanation:
In auditing, this kind of conclusion by the auditor is referred to as an adverse opinion.
An adverse opinion is expressed by the auditor in the auditor's report on a company's financial statement when there is a material misstatement which its impact can be pervasive on the financial statements.
This adverse opinion is normally expressed only when the financial statements pervasively not in line with Generally Accepted Accounting Principles GAAP.
For instance, an adverse opinion will be expressed by the auditor when a company refuses to consolidate a material subsidiary.
Business writers who use words such as interrogate, remuneration, and terminate are using language many readers would consider a. slang.b. conversational.c. jargon.d. unfamiliar.
Answer:
D. Unfamiliar
Explanation:
Business writers use many different words while writing journal articles or doing accounting or finance-related topics. For a non-business individual, it is challenging to perceive those words such as interrogation, termination, and remuneration. It is because of unfamiliarity with the terms. Those are not slanged words or jargon.
Hence, option D is the answer.
Procter & Gamble is a consumer products company. It launches many new products every year. The people who develop each new product must understand consumer tastes, distribution, manufacturing, marketing, accounting, and legal issues. P&G uses teams because the group members
Answer:
Synergize to overcome their interdependent constraints in order to achieve their common goal
Explanation:
First, for Procter and Gamble to develop these money new products yearly it needs to bring together the various function s of many departments including manufacturing, Research and Development, Marketing, Accounting and even the legal team. Such an organisation cannot engage all the members of each of these units, hence, it will need to develop teams made up of key personnel from the various units.
Since the goal of the team is to develop a new product (common goal), they can then overcome their individual departmental differences in ordre to achieve the goal. This is easier than involving whole departments in the development process.
Armour, Inc., an advertising agency, applies overhead to jobs on the basis of direct professional labor hours. Overhead was estimated to be $216,000, direct professional labor hours were estimated to be 18,000, and direct professional labor cost was projected to be $270,000. During the year, Armour incurred actual overhead costs of $212,000, actual direct professional labor hours of 17,500, and actual direct labor cost of $317,000. By year-end, the firm's overhead was:
a. $2,000 underapplied.
b. $6,000 underapplied.
c. $4,000 underapplied
d. $2,000 overapplied
e. $4,000 overapplied.
Answer:
a. $2,000 underapplied.
Explanation:
Estimated Overhead = $216,000
Estimated Professional hours = 18,000
Predetermined overhead rate = $216,000 / 18,000 = $12 per hour
Actual Professional hours = 17,500
Overhead applied = $12 x 17,500 hours = $210,000
Actual overhead = $212,000
Under applied overhead = Applied overhead - Actual overhead
Under applied overhead = $210,000 - $212,000
Under applied overhead = $2,000
An important application of regression analysis in accounting is in the estimation of cost. By collecting data on volume and cost and using the least squares method to develop an estimated regression equation relating volume and cost, an accountant can estimate the cost associated with a particular manufacturing volume. Consider the following sample of production volumes and total cost data for a manufacturing operation.Production Volume Total Cost(Units) ($)400 4,000450 5,000550 5,400600 5,900700 6,400750 7,000Use the data to develop an estimated regression equation that could be used to predict the total cost for a given production volume.what is the variable cost per unit produced?
Answer:
a. y = 1246.667 + 7.6x
b $7.6 per unit
Explanation:
a..
Given
n = 6.
Solving the regression equation using
y = a + bx
See attachment for solution
a = 1246.667
b = 7.3
So, y = 1246.667 + 7.3x
b.
The Variable cost per unit is given by the slope of the regression equation i.e. the coefficient of x
Which is 7.6
Franklin Manufacturing Company (CMC) was started when it acquired $99,000 by issuing common stock. During the first year of operations, the company incurred specifically identifiable product costs (materials, labor, and overhead) amounting to $67,500. CMC also incurred $67,500 of engineering design and planning costs. There was a debate regarding how the design and planning costs should be classified. Advocates of Option 1 believe that the costs should be classified as general, selling, and administrative costs. Advocates of Option 2 believe it is more appropriate to classify the design and planning costs as product costs. During the year, CMC made 4,500 units of product and sold 3,900 units at a price of $36.00 each. All transactions were cash transactions. Required a-1. Prepare an income statement and balance sheet under option 1. a-2. Prepare an income statement and balance sheet under option 2. b. Identify the option that results in financial statements that are more likely to leave a favorable impression on investors and creditors. c. Assume that CMC provides an incentive bonus to the company president equal to 15 percent of net income. Compute the amount of the bonus under each of the two options. Identify the option that provides the president with the higher bonus. d. Assume a 35 percent income tax rate. Determine the amount of income tax expense under each of the two options. Identify the option that minimizes the amount of the company’s income tax expense.
Final answer:
When calculating the accounting profit for a firm, the total costs are subtracted from sales revenue. For Franklin Manufacturing Company, the classification of design and planning costs affects net income, the president's bonus, and income tax expense, with Option 1 showing higher net income and a larger bonus but higher tax expenses.
Explanation:
Financial Statement Preparation under Two Options
Calculating the accounting profit for a firm involves subtracting the total costs from the sales revenue. In the provided example, the firm had sales revenue of $1 million and incurred costs for labor, capital, and materials amounting to $950,000 ($600,000 + $150,000 + $200,000). Thus, the accounting profit would be the remaining balance of $50,000.
Option 1: Design and Planning Costs as General, Selling and Administrative Costs
Under this option, the design and planning costs are not included in the product cost and thus not affecting the cost of goods sold (COGS).
Option 2: Design and Planning Costs as Product Costs
Under this option, the design and planning costs are included in the product cost, which will increase the COGS and decrease the gross profit when compared to Option 1.
Without the specific financial details of Franklin Manufacturing Company, we can contemplate the effects in general terms:
Net income will be lower under Option 2 than Option 1 because of higher COGS, leading to a smaller bonus for the company president based on the performance incentive and lower income tax expenses due to lower taxable income.Investors and creditors might perceive the financial statements under Option 1 to be more favorable since it shows a higher net income.The president's bonus is tied to the net income, thus it will be higher under Option 1 given the higher net income.Weighing the tax implications, Option 2 would result in lower income tax expenses due to lower taxable income.TyroneCo, an S corporation, reports gross receipts for the year totaling $400,000 (of which $200,000 is passive investment income). Expenditures directly connected to the production of the passive investment income total of $80,000.
Tyrone’s passive investment income tax is ______.
TyroneCo, an S corporation, has a net passive investment income of $120,000 ($200,000 gross passive income minus $80,000 related expenditure). The passive investment income tax, charged at a rate of 35%, is $42,000.
Explanation:The question involves calculating passive investment income tax for an S corporation like TyroneCo. To calculate the tax, we need to figure out the net passive investment income first. In this case, the passive investment income is $200,000 and the expenditure directly associated with generating this income is $80,000. So:
Net Passive Investment Income = Gross Passive Income - Related Expenditure
Net Passive Investment Income = $200,000 - $80,000 = $120,000.
he tax rate for excessive net passive income for S corporations is 35%. Therefore, Tyrone’s passive investment income tax would be 35% of $120,000, which equals $42,000.
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To reduce the amount of non-recyclable waste that employees throw out each day, a major computer company removed containers for non-recyclable rubbish from each office and workstation. This altered employee behavior mainly by:________A. increasing employee motivation to be less wasteful.B. helping employees to learn how to be less wasteful.C. altering situational factors and making it difficult to practice wasteful behavior.D. increasing aptitudes that make employees less wasteful.
Answer:
Answer is option C, ALTERING SITUATIONAL FACTORS AND MAKING IT DIFFICULT TO PRACTICE WASTEFUL BEHAVIOUR.
Explanation:
Employee behaviour is defined as an employee’s reaction or response to a particular situation or circumstance at workplace. It is the way employees conduct themselves at work.
Employees need to behave sensibly at workplace not only to gain appreciation and respect from others but also to maintain a healthy work culture. One needs to adhere to the rules and regulations of workplace.
Using the question as an example, in order to reduce the amount of non-recyclable from each office and work stations, the containers for non-recyclable wastes were removed from the offices and workstations. This has altered the employees behavior which would in turn make it difficult for the employees to practice wasteful behaviour because the situational factors has been altered.
Therefore, the option that best suits the question is option C. ALTERING SITUATIONAL FACTORS AND MAKING IT DIFFICULT TO PRACTICE WASTEFUL BEHAVIOR.
Classifying inflows and outflows of cash Classify each of the following items as an inflow (I) or an outflow (O) of cash, or neither (N). Item Change ($) Item Change ($) Cash Balance negative 300 Accounts receivable plus 1 comma 700 Accounts payable negative 1 comma 200 Net profits plus 900 Notes payable plus 1 comma 500 Depreciation plus 1 comma 100 Long-term debt plus 1 comma 000 Repurchase of stock plus 900 Inventory plus 200 Cash dividends plus 800 Fixed assets plus 400 Sale of stock plus 1 comma 000
Final answer:
To classify the items as inflows (I) or outflows (O) of cash, you need to determine whether each item represents a change in cash balance. Examples and explanations are provided for each item.
Explanation:
To classify each of the following items as an inflow (I) or an outflow (O) of cash, or neither (N), we need to determine whether each item represents a change in cash balance.
Cash Balance negative 300: Outflow of cash (O)
Accounts receivable plus 1 comma 700: Neither (N), as accounts receivable represents amounts owed to the company but does not involve a direct change in cash.
Accounts payable negative 1 comma 200: Inflow of cash (I), as negative accounts payable indicates a reduction in the amount owed by the company.
Net profits plus 900: Inflow of cash (I), as net profits represent the amount earned by the company.
Notes payable plus 1 comma 500: Inflow of cash (I), as an increase in notes payable represents borrowing money.
Depreciation plus 1 comma 100: Neither (N), as depreciation is a non-cash expense that represents the decrease in value of an asset.
Long-term debt plus 1 comma 000: Inflow of cash (I), as an increase in long-term debt indicates borrowing money.
Repurchase of stock plus 900: Outflow of cash (O), as repurchasing stock involves spending cash to buy back the company's own shares.
Inventory plus 200: Outflow of cash (O), as an increase in inventory requires spending cash to purchase more goods for sale.
Cash dividends plus 800: Outflow of cash (O), as cash dividends involve distributing earnings to shareholders.
Fixed assets plus 400: Neither (N), as adding fixed assets represents a non-cash transaction.Sale of stock plus 1 comma 000: Inflow of cash (I), as selling stock brings in cash from investors.Patricia Hill Collins refers to race, class, gender, etc. as "interlocking structures of oppression." Implied in that statement is that while some are oppressed and discriminated against on the basis of one or more of these categories, others continue to be be privileged. Citing peer reviewed sociological research on the subject, define privilege (on the basis of categories of identity) and discuss how privilege operates in peoples' daily lives.
Answer:
Patricia Hill Collins – Interlocking Structure of Oppression
Patricia Hill Collins is Charles Phelps Taft Professor of Sociology within and she is also a former Chair of the Department of African American Studies at the University of Cincinnati. Professor Patricia Collins received her B.A. and Ph.D. degrees in sociology from Brandeis University, and a degree in M.A.T. from Harvard University. She is a social theorist; her research and scholarship have dealt primarily with issues of gender, race, social class, sexuality and nation specifically relating to African American women. She has published number of articles in professional journals such as Sociological Theory, Ethnic and Racial Studies, Social Problems, Signs, and Black Scholar, as well as in various edited volumes.
In 1993 Patricia Collins wrote a wonderful piece discussing race, class, and gender as categories of analysis and connection in American society. This is very informative and let me take this liberty to summarize what I consider to be important things which we all should know about.
We live in a society which contains many kinds of people living around us. May times we all differ from each other. There are people are people around us from different backgrounds, race, caste, creed etc. With these different people, there are some people who are being oppressed for a long time in our society. These people are the victim of oppression. Due to this oppression and inequality, we have made a generalization that some people are victims and some are an oppressor. But this idea is somewhat flawed. For example, white skin women fight for the right to equality of women but little did they understand that white skin people have been oppressing black people for ages.
We live in a world where a group of people says about the oppression which they have faced at maximum. They talk about extreme oppression case of the people. People should know that these cases and concepts of oppression are full of contradictions and errors. In this world, If we look closely, we will come to know that there are only a few people who are pure victims of this oppression , otherwise, we all have oppressed other people at one point or another.
If we look closely to ourselves then, we’ll come to know that there is a piece of oppressor inside us. And this is the reason that world is having more oppressors and very less pure victims. We should look at our behavior while talking to other people, especially those who are in a minority so that we can take care of the piece of oppressor within us. In order to take care of this inequality, we need to understand new visions of what is oppression. When we’ll look at the terms closely, our ideas and vision can lead to short-term social changes and revolutions.
People talk about inequality and oppression most of the times, but they forget that sometimes, the oppressed people have many privileges based on their care, color, creed, gender etc. These things should be much more talked and taken care of. There are also some people who are oppressor according to some culture and oppressed according to another. Thus, we need some more info and a New vision to look into these flaws of the society. And it is seen many times that these institutions are interlocked.
The society we live in is a complex web of problematic relationship with the people living in it. There is a kind of cobwebs in the society these days. All people are having problems and personal issues living in the society. This is a part where inequality also plays a major role. We genuinely and sincerely need a new vision to fight this inequality.
Re-conceptualizing race, class, gender as a group for analysis
In order to Re-conceptualize this concept of oppressor and victim, we need to understand the fact that we all are oppressed and oppressor at some point in time. We must stop the additive analysis of oppression that is adding race, gender and class oppression will lead to a greater sum. And apart from that, we stand on the pillars of quantification of the oppression. We can’t deny the fact that there are people who are more oppressed than other and also the intensity may vary.
In order to establish new thinking in our society, we need to ask new questions to ourselves, see through the new vision and new perspective in the society. Our task is redefined in order to remove any kind of oppression and inequality in the society.
Explanation:
Intersectionality is the interconnected nature of social categories such as race, class, and gender, and privilege refers to systemic advantages for certain social categories. Patricia Hill Collins' theory explains how these interlocked identities shape individual experiences, leading to distinct forms of oppression or privilege that impact daily life.
Patricia Hill Collins has been instrumental in developing the concept of intersectionality, which emphasizes the interlocking nature of social categories such as race, class, and gender that create overlapping systems of discrimination or disadvantage. This framework suggests that these identity categories are not isolated from each other but are interrelated and manifest in complex ways in people's lives. Privilege, then, refers to the advantages that individuals or groups have solely based on certain aspects of their identity.
For example, an individual might benefit from white privilege in a society where race confers certain advantages, but they may also face gender-based oppression if they are a woman. Intersectional analysis aims to understand the full complexity of how individuals' multiple identities interact to produce unique experiences that cannot be understood by examining single identity categories in isolation.
Privilege operates in people's daily lives through systemic advantages that come with belonging to certain social categories. This operation of privilege can impact access to resources, opportunities for advancement, and the degree of respect and recognition an individual receives within different contexts. It's important to note that someone who is privileged in one area (like race) might still experience oppression in another (like class or gender).
A business plan:
a. Reduces the risk and uncertainty involved in starting a new company.
b. Is a guarantee of success for the small company.
c. Should be done by professional writers in consultation with the owner.
d. Should be kept in outline form to avoid over structuring the company.
Answer:
The correct answer is letter "A": Reduces the risk and uncertainty involved in starting a new company.
Explanation:
Business plans represent the goals companies set and the strategies they plan to use to achieve the objectives. In the business plan, the operative priorities are established so managers will certainly know what must be done first and what could be left behind. If applied in a start-up, the business plan could help investors to find out what the company pursues and what its contingency strategy is, reducing the risk of uncertainty.
Carolyn maintains an average monthly balance of $670 in her checking account. If her bank charges $7 per month as a minimum service fee, what would the annual interest rate need to be to just cover the monthly service fee?
Answer:
[tex]r=12.54\%[/tex]
Explanation:
Simple Interest
There are two common approaches in finance: Simple interest and compound interest. In the simple interest investment, the interests earned in a certain period are not added as part of the next investment period, i.e. it's equivalent to the account holder to withdraw the interest for each period.
The compound interest computes the interests earned in a period, adds it to the investment and computes the next interests including the previous interests.
The situation in the question requires us to compute the annual interest rate so the average monthly balance on Carolyn's account pays the fees by itself with the interest earned every month. It's equivalent to withdraw $7 as the monthly interest, thus it's considered as simple interest.
The interest earned for a principal P in a given period t at a rate r is given by
[tex]I=P\cdot r\cdot t[/tex]
The interest is assumed to cover the bank's fees, thus I=$7 for t= 1 month, thus, solving for r
[tex]\displaystyle r=\frac{I}{P\cdot t}=\frac{7}{670\cdot 1}=0.0104[/tex]
The annual interest rate is
[tex]r=0.0104*12=0.1254[/tex]
[tex]\boxed{r=12.54\%}[/tex]
Final answer:
To cover a monthly service fee of $7, Carolyn's checking account would require an annual interest rate of approximately 12.54% on her average balance of $670.
Explanation:
The annual interest rate would need to be for Carolyn to just cover a monthly service fee of $7 with an average monthly balance of $670 in her checking account. To find this, we will annualize the monthly service fee and then calculate the interest rate needed to earn that amount in a year. The annual service fee is $7 per month times 12 months, which equals to $84 per year. To break even on the fees with her balance, Carolyn's $670 would need to generate $84 in interest over one year. If 'r' represents the annual interest rate, the equation would be 670 * r = 84. Solving for 'r' gives us r = 84 / 670, which is approximately 0.1254 or 12.54% when converted to a percentage. Therefore, Carolyn's checking account would need to have an annual interest rate of 12.54% to cover the $7 monthly service fee.
Carl Sonntag wanted to compare what proceeds he would receive with a simple interest note versus a simple discount note. Both had the same terms: $19,500 at 8% for 2 years. Use ordinary interest as needed
Compare the proceeds.
Answer:
The proceeds from the simple discount note is $16380 , while that of simple interest is $19500
Explanation:
Simple discount notes could likened to a bank loan where interest on the loan is taken from the borrowed funds before disbursement to the loan's beneficiary,hence proceeds from such notes is face value of the notes less interest taken in advance.
While on the other hand,the proceeds from simple interest note is par or face value.
The discount or interest is =8%*$19500=$1560 for one year,but $3120 for two years($1560*2)
The proceeds on the simple discount note =$19500-$3120
=$16380
The proceeds on the simple interest note is face value of $19500
The proceeds from a simple interest note for $19,500 at 8% for 2 years are $22,620. The proceeds from a simple discount note under the same terms are $16,380.
Simple Interest Note Proceeds
a.To calculate the proceeds from a simple interest note, you can use the formula:
Interest = Principal × Rate × Time
Given: Principal = $19,500, Rate = 8%, Time = 2 years.
Interest = $19,500 × 0.08 × 2 = $3,120
Therefore, the proceeds are:
Proceeds = Principal + Interest = $19,500 + $3,120 = $22,620
b.Simple Discount Note Proceeds
For a simple discount note, the proceeds are calculated by discounting the face value using the given rate and time. The formula for discount is:
Discount = Principal × Rate × Time
Discount = $19,500 × 0.08 × 2 = $3,120
The proceeds are therefore the face value minus the discount:
Proceeds = Principal - Discount = $19,500 - $3,120 = $16,380
The correct question is..
Carl Sonntag wanted to compare what proceeds he would receive with a simple interest note versus a simple discount note. Both had the same terms: $19,500 at 8% for 2 years. Use ordinary interest as needed.
a. Calculate the simple interest note proceeds. Simple interest note proceeds
b. Calculate the simple discount note proceeds. Simple discount note proceeds
An investor sells 100 shares short at $43. The sale requires a margin deposit equal to 60 percent of the proceeds of the sale. If the investor closes the position at $49, what was the percentage earned or lost on the investment? If the position had been closed when the price of the stock was $27, what would have been the percent earned or lost on the position? (ignore any dividends, interest or commissions that would normally apply in a short sale)
Answer:
What would have been the percent earned or lost on the position is 23.2%
Explanation:
Proceeds of the sale $43 X 100 = $4,300 Margin requirement: .6 x $4,300 = $2,580
When the price of the stock rises to $49, the investor loses $600 ($4,300 - $4,900). ThereforeThe percentage lost on the invested funds is ($600)/$2,580 = (23.2%).
Flipco signed a 15-year note payable on January 1, 2018, of $900,000. The note requires annual principal payments each December 31 of 60,000 plus interest at 10%. The entry to record the annual payment on December 31, 2022, includesA. a debit to Interest Expense for $ 36, 000.
B. a debit to Interest Expense for $ 40, 000.
C. a credit to Notes Payable for $ 80, 000.
D. a credit to Cash of $ 120, 000.
Answer:A debit to interest expense for $36,000
Explanation:
interest expense= 800,000-80,000 = 720,000 5% 12/12