The effect on the accounting equation is that assets increase by $11,100, and equity increases $11,100. Option E.
The effect on the accounting equation when a company receives $11,100 from a client for services provided would be:
The accounting equation is Assets = Liabilities + Equity, and it must always remain in balance.
In this scenario, when the company receives $11,100 from a client for services provided, it increases its cash holdings. Cash is classified as an asset on the balance sheet, so the asset side of the equation increases by $11,100. This is because the company now has an additional $11,100 in cash, which is a tangible resource it can use.
At the same time, the company has earned revenue from providing services to the client. Revenue increases the company's equity, specifically the retained earnings component. Since the company has now earned $11,100 from providing services, its equity increases by the same amount.
Therefore, the effect on the accounting equation is that assets increase by $11,100, reflecting the increase in cash, and equity increases by $11,100, representing the increase in retained earnings. SO Option E is correct.
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Note the complete question is
If a company receives $11,100 from a client for services provided, the effect on the accounting equation would be:
Multiple Choice
A.)Assets decrease $11,100 and equity decreases $11,100.
B.)Assets increase $11,100 and liabilities decrease $11,100.
C.)Assets increase $11,100 and liabilities increase $11,100.
D.)Liabilities increase $11,100 and equity decreases $11,100.
E.)Assets increase $11,100 and equity increases $11,100.
Corporation’s first year of business, the following transactions affected its equity accounts.
Issued 7,200 shares of $2 par value common stock for $50. It authorized 20,000 shares.
Issued 1,800 shares of 12%, $10 par value preferred stock for $55. It authorized 3,000 shares.
Reacquired 360 shares of common stock for $62 each.
Retained earnings is impacted by reported net income of $82,000 and cash dividends of $31,000.
Prepare the stockholders’ equity section of Corporation's balance sheet as of Dec 31.
The stockholders' equity section of Corporation's balance sheet as of December 31 would be:
Stockholders' Equity:
Common Stock: $14,400
Preferred Stock: $18,000
Treasury Stock: -$22,320
Retained Earnings: $51,000
Total Stockholders' Equity: $61,080
To prepare the stockholders' equity section of Corporation's balance sheet as of December 31, we need to consider the given transactions. Here's how the stockholders' equity section would look:
Common Stock:
Authorized: 20,000 shares
Issued: 7,200 shares x $2 par value = $14,400
Preferred Stock:
Authorized: 3,000 shares
Issued: 1,800 shares x $10 par value = $18,000
Treasury Stock:
Reacquired: 360 shares x $62 = $22,320
Retained Earnings:
Net Income: $82,000
Cash Dividends: -$31,000
Retained Earnings: $82,000 - $31,000 = $51,000
Total Stockholders' Equity:
Common Stock: $14,400
Preferred Stock: $18,000
Treasury Stock: -$22,320
Retained Earnings: $51,000
Total Stockholders' Equity = $14,400 + $18,000 - $22,320 + $51,000 = $61,080
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Q1. What do you mean by Ethics? Being the citizen of Oman, identify the unethical practices followed by Omani and on-Oman residents [such as theft ,cheating in the balance and other actions that expartriates do]? Explain how to vanish these unethical practices for the welfare of Omani society? (7 marks)
Ethics is defined as a moral code of conduct that prescribes what is good and what is bad, what is right and what is wrong, what is permissible and what is not.
It is an unwritten rule of the society that everyone must follow. Being the citizen of Oman, some of the unethical practices followed by Omanis and non-Oman residents are as follows: Theft Cheating in the balance Overpricing Low-quality products Lack of professionalism and punctuality Misuse of power in public offices Corruption Manipulation of religious sentiments
Discrimination against expats Exploitation of workers The above-mentioned practices are a threat to the welfare of Omani society and need to be vanished as soon as possible. There are several ways through which we can vanish these unethical practices. Some of them are as follows: First and foremost, we must educate people about ethics and their importance. We should also promote ethical values and principles in our homes, schools, workplaces, and public offices.
This can be achieved through various campaigns, workshops, and seminars. Secondly, we must strictly enforce the law. We should have a strong judicial system that ensures that those who engage in unethical practices are punished accordingly. The punishment should be severe enough to deter others from engaging in such practices. Thirdly, we must cultivate a culture of transparency and accountability.
This means that public officials should be held accountable for their actions, and there should be a system in place that allows people to report corruption without fear of retribution. In conclusion, if we are to achieve the welfare of Omani society, we must work together to eliminate unethical practices. This can only be achieved if we are committed to promoting ethics and enforcing the law.
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name three companies who claim they support doing business in an ethical and moral way - not using sweat shops or damaging the environment
The three companies who claim they support doing business in an ethical and moral way - not using sweat shops or damaging the environment are Patagonia, The Body Shop, Toms Shoes.
There are many companies that claim they support doing business in an ethical and moral way - not using sweatshops or damaging the environment. Three such companies are:
1. Patagonia: Patagonia is a popular brand that focuses on making sustainable, eco-friendly clothing and gear. Patagonia is known for using recycled materials, organic cotton, and responsible sourcing to create high-quality products. They are committed to reducing their environmental footprint and promoting fair labor practices.
2. The Body Shop: The Body Shop is a cosmetics and skincare company that is committed to ethical and sustainable practices. They are known for their cruelty-free products and their commitment to fair trade and sustainable sourcing. The Body Shop also supports a number of social and environmental causes.
3. Toms Shoes: Toms Shoes is a shoe company that is committed to social responsibility. For every pair of shoes purchased, Toms donates a pair to a child in need. They also support a number of other social causes, including clean water and disaster relief efforts. Toms uses sustainable materials and is committed to reducing waste and carbon emissions.
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Question 25 1 pts Blossom, Inc., is expecting cash inflows of $13,000, $10,500, $12,200, and $9,750 over the next four years. What is the present value of these cash flows if the appropriate discount rate is 10 percent? (Round answer to 2 decimal places, e.g., 52.75.) O $36,321.29 $42,778.62 O $57,898.45 O $29,778.90
The present value of the cash flows if the appropriate discount rate is 10 percent is $36,321.29. So the right option is $36,321.29.
The present value of the cash flows is the sum of the present values of all the four cash flows given to us. The formula for calculating the present value of the cash flows is:
PV = CF1 / (1 + r)^1 + CF2 / (1 + r)^2 + CF3 / (1 + r)^3 + CF4 / (1 + r)^4Where:PV = Present ValueCF1, CF2, CF3, and CF4 are the cash flows for periods 1, 2, 3, and 4 respectively.r = appropriate discount rate
We are given that: Blossom, Inc., is expecting cash inflows of $13,000, $10,500, $12,200, and $9,750 over the next four years.The appropriate discount rate is 10%.
Substituting the given values into the formula, we get: PV = $13,000 / (1 + 0.10)^1 + $10,500 / (1 + 0.10)^2 + $12,200 / (1 + 0.10)^3 + $9,750 / (1 + 0.10)^4PV = $11,818.18 + $8,677.69 + $9,047.22 + $6,778.20PV = $36,321.29
Therefore, the present value of these cash flows if the appropriate discount rate is 10 percent is $36,321.29.
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what is net income if stacey’s used the cash basis of accounting?
If Stacey's used the cash basis of accounting, net income would be calculated by subtracting total expenses paid in cash from total revenue received in cash during a specific period.
The cash basis of accounting recognizes revenue and expenses only when cash is received or paid. It does not consider accounts receivable or accounts payable. Net income is determined by subtracting total expenses paid in cash from total revenue received in cash during a given period. This method provides a more immediate and accurate picture of the company's cash flow but may not reflect the overall financial performance since it disregards non-cash transactions. It is commonly used by small businesses or individuals with simple financial transactions and limited reporting requirements.
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One entity that may be used by a sales associate for registration with the dbpr is
Group of answer choices:
A) a cooperative association
B) a limited partnership
C) a limited liability company
D) a director of a brokerage firm
One entity that may be used by a sales associate for registration with the DBPR is a Limited Liability Company (LLC).
The Department of Business and Professional Regulation (DBPR) is an agency that is responsible for ensuring the protection of Florida’s consumers. The Department has its headquarters in Tallahassee, Florida. It regulates the activities of people who work in specific professions, including sales associates.
A Limited Liability Company (LLC) is a legal entity that combines the attributes of a partnership and a corporation. It is a type of business structure that is designed to protect the personal assets of the owners from business liabilities. In an LLC, the owners are known as “members,” and they are not personally liable for the company’s debts or legal liabilities. In Florida, LLCs must be registered with the Florida Department of State Division of Corporations.
Sales associates in Florida are required to register with the DBPR before they can legally practice real estate. To register with the DBPR, a sales associate must submit an application form, fingerprints, and a fee.
They must also provide proof of their status as an LLC, a corporation, or a sole proprietorship. If they are using an LLC, they must provide the name and address of the LLC, along with the name of the registered agent.
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Answer the following questions regarding a two-player game shown
in the payoff matrix below.
(1) Derive all pure strategy Nash equilibria of the game.
(2) Derive all (complete) mixed strategy Nash eq
(1) Pure strategy Nash equilibria are (D, L) and (U, R).
(2) To find mixed strategy Nash equilibrium, let player 1 choose U with probability p and D with probability 1 - p, and player 2 choose L with probability q and R with probability 1 - q.
To have equal expected payoffs, (U, L) must have the same expected payoff as (D, R) and (U, R) must have the same expected payoff as (D, L). This leads to the equations 2p - 3q + 2 = 0 and 3p - 2q + 1 = 0.
Solving these equations gives p = 7/13 and q = 3/13.
Therefore, the mixed strategy Nash equilibrium is for player 1 to choose U with probability 7/13 and D with probability 6/13, and for player 2 to choose L with probability 3/13 and R with probability 10/13.
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Consider the Normal Form Game characterized in the following figure: P1 \ P2 b1 b2 ib3 a1 (1,2) (0,1) (0,3) a2 (3,-1) (1,1) (-1,0) a3 (2,2) (1,-1) (3,0) a4 (-5,1) (-1,0) (-3,-2) a5 (-3,3) (3,0) (2,4)
The given figure represents a normal form game between two players, Player 1 (P1) and Player 2 (P2). The strategies available to Player 1 are labeled as a1, a2, a3, a4, and a5, while the strategies available to Player 2 are labeled as b1, b2, and b3.
The payoffs in each cell of the table represent the outcomes of the game when each player chooses a specific strategy combination. For example, in the cell corresponding to (a1, b1), Player 1 receives a payoff of 1 and Player 2 receives a payoff of 2.
To determine the dominant strategies, we look for strategies that always yield higher payoffs regardless of the other player's choice. In this game, there are no dominant strategies for either player because there is no single strategy that is always the best choice, regardless of the other player's strategy.
To find the Nash equilibria, we look for strategy combinations where neither player has an incentive to unilaterally deviate. In this game, there are multiple Nash equilibria, which are:
(a3, b3): Both players choose strategy a3 and b3, resulting in payoffs of (2, 0).
(a4, b1): Player 1 chooses strategy a4 and Player 2 chooses strategy b1, resulting in payoffs of (-5, 1).
(a5, b2): Player 1 chooses strategy a5 and Player 2 chooses strategy b2, resulting in payoffs of (-3, 3).
These strategy combinations are Nash equilibria because, at these points, neither player has an incentive to unilaterally switch strategies.
Note: It's important to understand that the analysis of a normal form game depends on the specific payoffs and strategic interactions presented in the game. The analysis provided here is based on the information given in the figure.
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Which of the following represents a form of communication through financial reporting but not through financial statements? OA. Statement of Cash Flows. OB. Statement of financial position. O C. Management Forecasts. O D. Notes to financial statements.
The financial statements are the primary means of communicating financial information to external parties. However, the notes to financial statements are a form of communication through financial reporting, not through financial statements. Correct option is D) Notes to financial statements.
What are the notes to the financial statements? The notes to the financial statements are written disclosures that contain additional information about a company's financial condition. These disclosures are included in a company's financial statement footnotes and are required by generally accepted accounting principles (GAAP). What are the purposes of notes to the financial statements? The following are the purposes of notes to the financial statements: Provide explanatory information that is not presented elsewhere in the financial statements. Disclose important accounting policies and practices that the company has adopted, as well as other significant information that was not disclosed in the financial statements.
Provide information about the company's business operations, accounting policies, and other financial information to help users of financial statements better understand the company's financial condition. Disclose financial statement items that are not recognized in the financial statements and that require disclosure for the financial statements to be fairly presented. The answer, therefore, is option D) Notes to financial statements.
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Balance sheet in the stockholders' equity section. Income statement in the expenses section. The amount a company expects to collect from customers appears on the
A) Income statement in the expenses section.
B) Balance sheet in the current assets section.
C) Balance sheet in the stockholders' equity section.
D) Statement of cash flows.
The correct answer is option B, "Balance sheet in the current assets section." The amount a company expects to collect from customers appears on the Balance sheet in the current assets section.
The Balance sheet depicts the assets, liabilities, and shareholder's equity of the company at a given point in time. The income statement indicates the company's revenues and expenses over a specific time, which results in the net profit or loss of the company.Stockholders' equity is the net assets or book value of a company, which is a combination of all assets less all liabilities. The balance sheet's stockholders' equity section contains the company's capital, reserves, and profits from previous years. Expenses are listed on the income statement's debit side.
The amount a company expects to collect from customers, also known as accounts receivables, is a current asset that appears on the balance sheet under the current assets section. Therefore, the correct answer is option B, "Balance sheet in the current assets section."
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1 pts Question 4. When we face hardships, high levels of uncertainty, and intense demands, we often think we might not be able to handle it all well. This is an example of O Role conflict O Anxiety O
The given statement "When we face hardships, high levels of uncertainty, and intense demands, we often think we might not be able to handle it all well" is an example of anxiety.
Anxiety refers to a psychological and physiological state that results in feelings of nervousness, apprehension, or fear. These feelings can arise in response to a particular stressor or they can exist for a prolonged period of time, and can impact an individual’s emotional, cognitive, and physical state.Anxiety can arise from a range of factors, including genetic and environmental influences.
Anxiety can manifest in a variety of ways, including physical symptoms (such as heart palpitations, sweating, or shortness of breath), cognitive symptoms (such as excessive worry or rumination), and behavioral symptoms (such as avoidance or compulsive behaviors). The severity and duration of anxiety can vary greatly between individuals, and treatment options can include therapy, medication, or a combination of both.
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Question 60 Save A How much income tax is payable a resident minor with taxable income of $23,000 in 2020/21, which includes eligible taxable income (not from a trust) of $3,000? (Consider applicable
The income tax payable for a resident minor with a taxable income of $23,000 in 2020/21 is $912.
For the 2020/21 income year, the tax rates for Australian residents are as follows:
0% on the first $18,200 of taxable income
19% on taxable income between $18,201 and $45,000
Plus a 32.5% marginal tax rate on taxable income between $45,001 and $120,000
As a resident minor with a taxable income of $23,000, we need to calculate the income tax payable based on the tax rates mentioned above.
First, let's determine the taxable income that falls within the 19% tax bracket:
Taxable income in the 19% bracket = $23,000 - $18,200 = $4,800
Now, we calculate the income tax payable for each portion of the taxable income:
Tax payable on income in the 19% bracket = 19% of $4,800 = $912
Since the entire taxable income of $23,000 falls within the 19% tax bracket, the income tax payable is $912.
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Per company policy, tools with a purchase price greater than $1,000 are capitalized. What's the correct entry to record a tool purchase of$500?
(A) Debit tools expense $500, credit cash$500
(B) Debit fixed asset $500, credit tools expense$500
(C) Debit fixed asset $500, credit cash$500
(D) Debit fixed asset $1,000, cred it cash$1,000
(E) Debit tools expense $1,000, cred it cash$1,000
The correct entry to record a tool purchase of $500, considering the company policy that tools with a purchase price greater than $1,000 are capitalized, would be: (C) Debit fixed asset $500, credit cash $500.
This entry reflects the capitalization of the tool as a fixed asset since its purchase price is below the threshold of $1,000. The debit to the fixed asset account increases the value of the fixed asset, and the credit to the cash account reflects the cash outflow from the company for the tool purchase.
Cash outflow refers to the movement of cash or cash equivalents out of a business or individual's account or possession. It represents the payment or expenditure of money, typically for goods, services, investments, or other financial obligations. Cash outflows can occur through various means such as cash payments, checks, electronic transfers, or other forms of monetary transactions
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deflation is: an increase in prices. an increase in the rate of inflation. a decrease in prices, that is, a negative inflation rate. a reduction in the rate of inflation.
Deflation is a reduction in the rate of inflation. Option D is the correct answer.
An economy experiences deflation, also known as negative inflation, when prices usually decline. The reason for this may be that there are more items available than there are consumers who want them, but it may also be related to an increase in the purchasing power of money. Option D is the correct answer.
A decline in the amount of money or instruments of finance redeemable for money is the only thing that can bring about monetary deflation. Central banks, like the Federal Reserve, have the largest effect on the money supply today. Because they can buy substantially more with a dollar in the future than they can now, deflation encourages individuals to hoard money; this has negative feedback loops that might trigger an economic crisis.
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The complete question is, "deflation is:
A. an increase in prices.
B. an increase in the rate of inflation.
C. a decrease in prices, that is, a negative inflation rate.
D. a reduction in the rate of inflation."
You have been late in repaying a prior credit purchase with one of your suppliers and asked them to accept your promissory note for 54,000. That supplier agreed to an interest rate of 6.5% and a repayment period of 6 months. How much will you owe this supplier at the end of that period?
The amount that the supplier will owe at the end of the period is $55,755
The value of the promissory note is $54,000, the interest rate is 6.5%, and the repayment period is 6 months.
To find:
Interest on the promissory note = Principal x Rate x Time
First, we need to calculate the interest payable for 6 months
.Using the above formula,
Interest = 54,000 x 6.5% x 6/12= $1,755
Total amount payable = Principal + Interest= $54,000 + $1,755= $55,755
Therefore, the amount that the supplier will owe at the end of the period is $55,755.
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(A) A garment store sells 500 shirts each month. Each shirt costs Rs 1,000 and the store has an annual holding cost of 25 percent. The fixed cost of a replenishment order is Rs 1,200. The store currently places a replenishment order every month for 500 shirts. a) What is the annual holding and ordering cost? (b) On average, how long does a jacket spend in inventory? (c) If the store wants to minimize ordering and holding cost, what should be order size? Show all calculations. (B) Identify the major factors that affect cycle inventory and that affect Safety inventory.
(a) The annual holding cost = 25% of (cost per shirt * average inventory) where average inventory = order quantity / 2. So, the annual holding cost = 0.25 * 1000 * (500/2) = Rs. 62,500. The annual ordering cost = (demand in units per year / order quantity) * cost per order, which gives (12*500/500)*1200= Rs. 14,400.
Thus, the annual holding and ordering cost is Rs. 62,500 + Rs. 14,400 = Rs. 76,900.(b) On average, a shirt spends half of the order interval in inventory. Since the order interval is one month and the store orders 500 shirts every month, the average inventory will be 500/2 = 250 shirts.
The time a shirt spends in inventory is, therefore, (250 / 500) * 30 = 15 days.(c) Order size can be calculated using the economic order quantity (EOQ) formula as follows:EOQ = √(2DS/H), where D = annual demand, S = fixed cost per order, and H = holding cost per unit per year.
So, EOQ = √(2 * 500 * 1200 / 0.25 * 1000) = √(240000 / 250) = 196 shirts.
Therefore, the store should order 196 shirts to minimize ordering and holding costs.The optimal order size to minimize the holding and ordering costs is 196 shirts.
The annual holding cost is 25% of the cost per shirt multiplied by the average inventory, where the average inventory is equal to the order quantity divided by two. The annual ordering cost is (demand in units per year divided by order quantity) multiplied by the cost per order.
The average inventory of a shirt can be calculated by dividing the order quantity by two since the store places an order for 500 shirts each month. The time a shirt spends in inventory is half of the order interval, which is one month. Therefore, a shirt will spend 15 days in inventory on average. Safety inventory and cycle inventory are the two types of inventory.
The former safeguards against stockouts caused by unpredictable fluctuations in demand, while the latter occurs when companies purchase goods in bulk to take advantage of economies of scale. The factors that influence cycle inventory are the order quantity, production lot size, and the ordering process's frequency. In contrast, the factors that affect safety inventory are demand variability, lead time variability, and service level.
In conclusion, businesses must find the right balance between the two inventory types to ensure that they have sufficient inventory to meet customer demand while avoiding excess inventory.
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For this exercise s=1+the fourth digit of your student number. A research laboratory announces the discovery of a new refreshment. Immediately the public expresses a (linear) demand for the new product. There are two firms which have capacity to produce quantities 91, 92 of the new product with constant marginal costs c₁, c2 respectively, where c2 = C₁ + 4 x s. You observe that before firms start to produce (i.e., q1 = 92 = 0) the market clears at p 160 × s. When supplies arrive at the market you observe that the equilib- rium price and quantity settle at p = 60 × s and Q = 200 × s respectively. = (i) Suppose that you consider investing in firm 1 by financing half of its production cost in exchange for half of its venue. Compute the profit that firm 1 would retain after paying you off. (ii) Alternatively you consider investing in this market and discover that, at a fixed cost F 70000, you can buy a technology to produce the new product with constant marginal costs c = 60. Explain and justify whether or not you would invest in this market. = (iii) Explain whether or not the manager of firm 1 would rather accept your offer in (i), or decline it and let you proceed with your alternative in (ii).
(i) The profit retained by firm 1 after paying you off is given by Profit₁ = (60 × s) × (200 × s - 92) - (1/2)(c₁ × (200 × s - 92)).
(ii) Whether or not to invest in the market depends on whether the profit from investing (Profit₂) exceeds zero: Profit₂ = (60 × s) × (200 × s) - (70000 + 60 × (200 × s)).
(iii) If Profit₁ is greater than Profit₂, the manager of firm 1 would accept your offer in (i); otherwise, if Profit₂ is greater than or equal to Profit₁, the manager would decline your offer and let you proceed with your alternative in (ii).
To solve this problem, let's break it down into three parts:
(i) Computing the profit that firm 1 would retain after paying you off:
First, let's determine the equilibrium quantity produced by firm 1. We know that the total equilibrium quantity is Q = 200 × s. Since firm 2 produces a quantity of 92, firm 1 must produce the remaining quantity to satisfy the market demand. Therefore, firm 1 produces Q₁ = Q - 92 = 200 × s - 92.
The equilibrium price is given as p = 60 × s. Firm 1's revenue is calculated by multiplying the equilibrium price by the quantity it produces: R₁ = p × Q₁ = (60 × s) × (200 × s - 92).
Firm 1's production cost is c₁ × Q₁, where c₁ is the constant marginal cost for firm 1. The profit retained by firm 1 after paying you off is given by: Profit₁ = R₁ - (1/2)(c₁ × Q₁).
(ii) Evaluating whether to invest in the market with a fixed cost of F = 70000 and a constant marginal cost of c = 60:
In this case, let's compare the profit of investing in the market with the fixed cost to the profit of not investing (i.e., zero profit).
If you invest in the market, your revenue would be p × Q, where p is the equilibrium price (60 × s) and Q is the total equilibrium quantity (200 × s). Your cost would be the fixed cost F = 70000 plus the total production cost, which is c × Q. Therefore, your profit from investing in the market would be Profit₂ = (p × Q) - (F + c × Q).
If the profit from investing in the market (Profit₂) is greater than zero, it would be favorable to invest. Otherwise, if Profit₂ is less than or equal to zero, it would not be advantageous to invest.
(iii) Determining whether the manager of firm 1 would accept your offer in (i) or decline it in favor of your alternative in (ii):
To make this determination, compare the profit that firm 1 would retain after paying you off (Profit₁) to the profit it would earn if it declined your offer and let you proceed with your alternative in (ii) (Profit₂). If Profit₁ is greater than Profit₂, the manager of firm 1 would likely prefer to accept your offer. However, if Profit₂ is greater than or equal to Profit₁, the manager would likely decline your offer and proceed with the alternative investment.
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A machine which cost $240,000 is acquired on September 30, 2015. Its estimate salvage value is $30,000 and its expected life is 6 years. Instructions Calculate depreciation expense for 2015 using sum-of-the-years-digits
The depreciation expense for 2015 using the sum-of-the-years-digits method is approximately $60,000.
To calculate the depreciation expense for 2015 using the sum-of-the-years-digits method, we first need to determine the total number of years of the asset's life and calculate the sum of the digits.
The total number of years of the asset's life is 6 years. To calculate the sum of the digits, we add the digits from 1 to 6: 1 + 2 + 3 + 4 + 5 + 6 = 21.
Next, we need to determine the depreciation expense for each year. For 2015, we will calculate the expense based on the remaining years of the asset's life.
The remaining years of the asset's life in 2015 is 6 - 0 = 6 years.
To calculate the depreciation expense for 2015, we use the formula:
Depreciation expense = (Remaining years / Sum of the digits) * (Cost - Salvage value)
Depreciation expense for 2015 = (6 / 21) * ($240,000 - $30,000)
Depreciation expense for 2015 = (6 / 21) * $210,000
Depreciation expense for 2015 ≈ $60,000
Therefore, the depreciation expense for 2015, calculated using the sum-of-the-years-digits method, amounts to around $60,000.
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Smithson, Inc. manufactures lead crystal glasses. The standard direct labor time is 0.4 hour per glass, at a cost of $18 per hour. The actual results for one month's production of 6,900 glasses were 0
The direct labor efficiency variance for the month is -$21,817.60, indicating an unfavorable variance.
To calculate the direct labor efficiency variance, we need to compare the standard hours allowed for the actual output with the actual hours worked and then multiply the difference by the standard labor rate.
Standard labor hours allowed = Standard direct labor time per glass × Actual output
Standard labor hours allowed = 0.6 hours/glass × 6,818 glasses = 4,090.8 hours
Actual labor hours worked = Actual labor time per glass × Actual output
Actual labor hours worked = 0.8 hours/glass × 6,818 glasses = 5,454.4 hours
Direct labor efficiency variance = (Standard labor hours allowed - Actual labor hours worked) × Standard labor rate
Direct labor efficiency variance = (4,090.8 hours - 5,454.4 hours) × $16/hour
Direct labor efficiency variance = -1,363.6 hours × $16/hour
Direct labor efficiency variance = -$21,817.60
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The question is -
Goldman, Inc. manufactures lead crystal glasses. The standard direct labor time is 0.6 hours per glass, at a cost of $16 per hour. The actual results for one month's production of 6,818 glasses were 0.8 hours per glass, at a cost of $13 per hour.
Calculate the direct labor efficiency variance for the month.
Jamie ensures that his subordinates are closely guided and instructed throughout a project. He believes that this makes him a highly responsible and an emphatic manager. However, Jamie is unaware that all his team members agree he has a strong tendency to control and micromanage people around him. With regard to Jamie's self-awareness, which part of the Johari Window does this scenario best illustrate?a. The hidden areab. The blind areac. The open aread. The unknown area
Answer: open area
Explanation:
Match each of the Seven Tools of Quality Control to the appropriate description for each. 1. A tool used to organize and present process problems from most to least severe 2. A tool used to sequence the movements or actions of people or things involved in a complex system or activity > 3. A tool used to aid in brainstorming and isolating the causes of a problem > 4. A tool used to graph how a process changes over time < 5. A tool to graphical display data grouped into ranges > 6. A tool used to identify the frequency of occurrence for each identified problem > 7. A tool used to plot the values of two variables along two axes in order to reveal any correlation present >
The one word answers are 1, Pareto Chart 2, Flowchart 3, Cause and Effect Diagram (also known as Fishbone Diagram or Ishikawa Diagram) 4, Time Series Plot, 5 Histogram, 6 Check Sheet, 7 Scatter Plot.
A Pareto Chart is used to organize and present process problems from most to least severe, allowing prioritization of improvement efforts based on the Pareto principle.
A Flowchart is used to sequence the movements or actions of people or things involved in a complex system or activity, providing a visual representation of the process flow.
A Cause and Effect Diagram (Fishbone Diagram) aids in brainstorming and isolating the causes of a problem by categorizing potential causes into major categories and subcategories.
A Time Series Plot graphically shows how a process changes over time, allowing analysis of trends, patterns, and seasonal variations.
A Histogram is a graphical display of data grouped into ranges, providing a visual representation of the distribution and frequency of data values.
A Check Sheet is used to identify the frequency of occurrence for each identified problem or event, allowing for easy tracking and analysis.
A Scatter Plot plots the values of two variables along two axes, revealing any correlation or relationship between them, helping to identify patterns and trends.
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--The given question is incomplete, the complete question is given below " Give one word answer for each of the Seven Tools of Quality Control to the appropriate description for each. 1. A tool used to organize and present process problems from most to least severe 2. A tool used to sequence the movements or actions of people or things involved in a complex system or activity > 3. A tool used to aid in brainstorming and isolating the causes of a problem > 4. A tool used to graph how a process changes over time < 5. A tool to graphical display data grouped into ranges > 6. A tool used to identify the frequency of occurrence for each identified problem > 7. A tool used to plot the values of two variables along two axes in order to reveal any correlation present >"--
A monopolist sells 6 units of a product per day at a unit price of $15. If it lowers the price to $14, its total renue increases by $22. This implies that its sales quantity increases by:________
The monopolist's sales quantity increases by 2 units when it lowers the price from $15 to $14.
Assuming that the monopolist has no fixed costs, we can calculate its revenue using the following formula:
Revenue = Price x Quantity
Initially, the monopolist sells 6 units of its product per day at a price of $15 per unit, so its total revenue is:
$15 x 6 = $90
When it lowers the price to $14, its total revenue increases by $22. We can use this information to set up an equation and solve for the new quantity sold.
New revenue = Old revenue + $22 New price x New quantity = Old price x Old quantity + $22
Substituting the given values gives:
$14 x New quantity = $15 x 6 + $22 $14 x New quantity = $112 New quantity = 8
Therefore, the monopolist's sales quantity increases by 2 units when it lowers the price from $15 to $14. This increase in quantity sold could be due to several factors such as increased demand for the product at a lower price, attracting new customers who were previously not willing to buy the product, or stealing customers away from competitors who sell a similar product. Nonetheless, the increase in quantity sold has a positive impact on the monopolist's revenue, as the additional revenue from selling two extra units of product exceeds the revenue lost from decreasing the price of each unit.
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pleas fast please
Moving to another question will save this response Question 2 Manama Trading has $8,000 of cash sales that are subject to an additional 2% sales tax, what is the journal entry to record the cash sales
Sales Tax Payable is credited for the sales tax amount of $160.
To record the cash sales of Manama Trading with an additional 2% sales tax, the journal entry would be as follows:
Date: [Date of the transaction]
Account Debit CreditCash $8,000
Sales Revenue $7,840
Sales Tax Payable $160
Cash is debited for the total amount of cash sales, which is $8,000.
Sales Revenue is credited for the sales amount net of the sales tax.
Since the sales tax is 2% of the sales amount, the sales revenue is $8,000 - $160 = $7,840.
Sales Tax Payable is credited for the sales tax amount of $160.
This account represents the liability owed to the tax authority.
It's important to note that the sales tax is recorded as a liability (Sales Tax Payable) rather than including it in the Sales Revenue account. This allows for the proper tracking and reporting of the sales tax separately from the revenue generated from sales.
Please note that the specific account names and amounts used in the journal entry may vary based on the company's chart of accounts and accounting practices. It is recommended to consult with an accountant or follow your company's specific guidelines when recording journal entries.
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Which 3 are transaction types you can assign in a rule for money-out transactions? 1.Refund receipt 2. Check 3. Purchase order 4. Expense 5. Credit memo 6. Journal entry 7. Transfer
Once you are done selecting the transaction type, you need to enter the rest of the required information for the rule and click Save.
Three transaction types you can assign in a rule for money-out transactions are Check, Expense, and Journal Entry.
To assign transaction types for money-out transactions, follow the steps given below:
Go to the Gear icon > Rules > New rule > Money out.
Next, you will need to complete the 'When this happens' section. This section involves the following: Conditions: Choose the condition that defines when the rule is applicable. Action: Choose the action that is required when the rule is enforced. In this case, the action is selecting the transaction type under the drop-down list. Here, select the transaction type based on the condition you have chosen. The available options are as follows:
Check Expense Journal Entry Refund Receipt Transfer Credit Memo Purchase Order
Once you are done selecting the transaction type, you need to enter the rest of the required information for the rule and click Save.
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If User documentation is part of the definition of done and there is no technical writer in the scrum team, how the situation is dealt?
A. Should the dev team create user documentation still
B. wait for the technical writer to be on the scrum team and let them take care of it
C. form a separate team of tech writers
D. let it be undone until the last development sprint?
When User documentation is part of the definition of done in a Scrum team, there are a few possible approaches to deal with the situation:
A. Should the dev team create user documentation still: In this case, the development team can take the responsibility of creating the user documentation themselves.
B. Wait for the technical writer to be on the Scrum team and let them take care of it: If there is a plan to include a technical writer in the Scrum team in the near future, the team can decide to wait for the technical writer to join and handle the user documentation tasks.
C. Form a separate team of tech writers: Another option is to form a separate team or collaborate with an existing technical writing team to handle the documentation tasks. This team can work in parallel with the development team and create the necessary user documentation based on the information provided by the developers.
D. Let it be undone until the last development sprint: This option is not recommended as it goes against the principle of having a "definition of done" that includes user documentation.
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To analyze the problem, apply the formula of price elasticity, and make decisions and recommendations based on the result of the computation.
Dr. Smith is a Pediatrician. He has two clinics located in Pasig and in Mandaluyong. His problem is to know how he can earn more at the same time improve and extend his services to his entire patient. His employee (secretary) who happened to be a business administration graduate was given the task to provide statistics of all his client for the last three (3) months of operation without an increase in Consultation Fee and the statistics for the last 3 months when the new Consultation Fee was in effect. Therefore, the Doctor needs to know the response of his patient by comparing the two statistics presented to him by his secretary. The response must be measured mathematically using statistics method and economics method to determine such response while computing Total Revenue is needed to provide information on how much amount does the clinic earned without or with an increase in Consultation Fee.
In the given scenario, Dr. Smith wants to know how he can earn more at the same time improve and extend his services to his entire patient.
He gave a task to his employee (secretary), who happened to be a business administration graduate, to provide statistics of all his clients for the last three months of operation without an increase in Consultation Fee and the statistics for the last 3 months when the new Consultation Fee was in effect. To analyze the problem, apply the formula of price elasticity, and make decisions and recommendations based on the result of the computation.Let's start analyzing the problem.
If the demand is elastic, then Dr. Smith should consider reducing the consultation fee to increase the number of patients. On the other hand, if the demand is inelastic, then Dr. Smith can consider increasing the consultation fee without losing a significant number of patients. Dr. Smith can also extend his services to his entire patient to increase revenue.
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imagine that in 2016 a u.s. firm acquired a plant in france. in 2017 that plant accounted for 10 percent of the u.s. firm’s sales. why is the u.s. firm not a multinational enterprise?
The U.S. firm is not considered a multinational enterprise because the acquisition of a plant in France and the plant's contribution to 10 percent of the firm's sales in 2017 do not meet the criteria for multinational status.
A multinational enterprise (MNE) is a company that operates and conducts business in multiple countries. MNEs typically have a significant presence and engage in substantial operations in foreign markets. They establish subsidiaries, branches, or plants in different countries to expand their global reach and take advantage of international business opportunities.
In the given scenario, although the U.S. firm acquired a plant in France, the plant's contribution to only 10 percent of the firm's sales in 2017 does not indicate a substantial presence or significant operations in foreign markets. The firm's business activities are primarily concentrated within the United States, and the acquisition of a single plant in France does not meet the threshold for being classified as a multinational enterprise.
To be considered a multinational enterprise, a company must have a notable presence and engage in substantial operations in multiple countries. The acquisition of a single plant in France, accounting for 10 percent of the U.S. firm's sales, does not meet the criteria for multinational status. The firm's operations remain primarily centered within the United States.
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One company acquires another company in a combination accounted for under the acquisition method. The acquiring company decides to apply the equity method in accounting for the combination. What is one reason the acquiring company might have made this decision? Multiple Choice It is the only method allowed by the SEC. It is relatively easy to apply It is the only internal reporting method allowed by generally accepted accounting principles. Operating results on the parent's financial records reflect consolidated totals.
One reason the acquiring company might have decided to apply the equity method in accounting for the combination is that operating results on the parent's financial records reflect consolidated totals.
The equity method is a method of accounting for investments in subsidiaries or associates where the acquiring company recognizes its share of the investee's earnings or losses in its financial statements. This method is commonly used when the acquiring company has significant influence over the investee but does not have control.
By applying the equity method, the acquiring company includes its share of the investee's operating results in its financial records. This allows the acquiring company to reflect consolidated totals, providing a more comprehensive view of the combined financial performance of the acquiring company and the acquired company. This information is valuable for internal reporting and decision-making purposes.
While the other options provided do not accurately describe the reasons for using the equity method, it is worth noting that the equity method is a generally accepted accounting principle for accounting for investments in associates or subsidiaries. It provides a more accurate representation of the acquiring company's economic interest in the investee. However, the primary reason for choosing the equity method in this scenario is that it allows the acquiring company's financial records to reflect consolidated totals, providing a comprehensive view of the combined operating results.
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In an essay format. please follow the
instructions
1. Introduce any business idea
1.1. Clearly state your business mission
1.2. Address your business vision
2. Conduct a STEEPL analysis for your
busin
Eco-friendly Cleaning Service is a business that has the potential to grow in an environmentally conscious society. By implementing eco-friendly practices, using sustainable cleaning methods, and adhering to legal requirements, the business can provide high-quality cleaning services while protecting the environment.
Business Idea: Eco-friendly Cleaning Service
Eco-friendly Cleaning Service is a cleaning service that uses environmentally friendly products and methods to clean homes and offices. The business mission of Eco-friendly Cleaning Service is to provide a clean and safe environment for our customers while also protecting the planet.
1.1 Business Mission
Our business mission is to provide high-quality cleaning services while minimizing the impact on the environment. We believe that by using eco-friendly products and methods, we can help our customers to live in a healthier and more sustainable environment. Our services are tailored to meet the specific needs of our customers, and we strive to exceed their expectations every time.
1.2 Business Vision
Our business vision is to become a leader in the eco-friendly cleaning industry. We aim to provide innovative and effective cleaning solutions that are both environmentally friendly and cost-effective. We believe that by promoting eco-friendly cleaning practices, we can contribute to a healthier and more sustainable planet.
2. STEEPL Analysis for Eco-Friendly Cleaning Service
S - Socio-Cultural Factors: There is an increasing awareness of environmental issues among people, which creates an opportunity for the eco-friendly cleaning industry. People are becoming more health-conscious and prefer to use products that are free from harmful chemicals.
T - Technological Factors: The development of new technologies has enabled the production of more efficient and eco-friendly cleaning products. Advancements in cleaning equipment and processes have also made it easier to clean without harming the environment.
E - Economic Factors: The eco-friendly cleaning industry is expected to grow as more people are willing to pay for environmentally friendly products and services. The industry also benefits from the availability of government grants and incentives for green businesses.
E - Environmental Factors: Environmental concerns are at the heart of the eco-friendly cleaning industry. By using environmentally friendly products and methods, the industry helps to protect the environment and reduce the carbon footprint of homes and businesses.
P - Political Factors: The government's policies and regulations play a crucial role in the eco-friendly cleaning industry. For instance, regulations on the use of chemicals and disposal of waste have a significant impact on the operations of cleaning businesses.
L - Legal Factors: The eco-friendly cleaning industry must comply with various legal requirements, including licensing and permits, safety standards, and environmental regulations. Failure to comply with these requirements can result in fines, legal actions, or the closure of the business.
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Question 3 of 16 4 points $500,000 PETO para P 50.000 shares issued Common atok $15 par val, 300 000 sharms issued and outstanding $4,500,000 in 2020 The company declared and paid $30,000 of cash divi
Based on the given information, the total dividend per share that a common stockholder would receive is $[tex]1.67[/tex].
The calculation for the total amount of dividend per share that a common stockholder would receive is as follows:
The company had a retained earnings balance of $[tex]500,000[/tex], with [tex]50,000[/tex] shares issued at a par value of $[tex]15[/tex] per share. Additionally, there were [tex]300,000[/tex] shares issued and outstanding. In [tex]2020[/tex], the company declared and paid a cash dividend of $[tex]30,000[/tex]. Dividing the total dividend amount ($[tex]30,000[/tex]) by the total number of shares ([tex]300,000[/tex]) gives a dividend per share of $[tex]0.10[/tex]. Therefore, a common stockholder would receive a total amount of dividend per share equal to $[tex]0.10[/tex].In conclusion, based on the provided details, the dividend per share for common stockholders is determined to be $[tex]1.67[/tex].
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