All cash transactions are recorded by the business in its general journal under the cash account.
Adjusted bank balance = $13,563
Preparation of bank reconciliation statements
Del gato clinic's cash account shows
June 30
Bank statement balance = $11,986
Add: Bank deposit = $2,856
Total = $13,563
Deduct: Outstanding checks = $1,527
Adjusted bank balance = $11,582
($13,411 - $1,829)
DEL GATO CLINIC Bank Reconciliation
June 30
Book balance = $13,563
Add: Error in check =$9
($467 - $476)
Deduct: Bank charges =$90
Adjusted book balance = $13,563
($13,563 + $9 - $90)
Hence, adjusted bank balance will be $13,482 while adjusted book balance will be $13,482. So, all cash transactions are recorded by the business in its general journal.
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one group that relies on both the adequate collection and transformation of data for decision-making purposes for an organization is group of answer choices management. interested outsiders. competitors. the government.
The correct option is (A) management
One group that relies on both the adequate collection and transformation of data for decision-making purposes for an organization is management.
What is management?Coordination and arrangement of corporate activities is referred to as business management.
Operations are overseen by managers, who also assist staff in maximising production.
Assisting a company in achieving its operational and financial goals, a manager of a business may also supervise or train new hires.
To accomplish a goal, tasks are coordinated and managed through management.
These administrative tasks involve determining the organization's strategy and coordinating the staff's efforts to achieve these goals by utilising the resources at hand.
In order to make sure that their company succeeds, business managers are essential.
It is impossible to exaggerate how important these individuals are because they oversee and control everything from budgeting to human resources.
The art of management is to maximise efficiency in a social process, a way to accomplish tasks with the help of others, a plan of action, and its direction by a cooperative group working towards a common goal. Management is the skillful use of available resources to accomplish a single goal.
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waupaca company establishes a $320 petty cash fund on september 9. on september 30, the fund shows $61 in cash along with receipts for the following expenditures: transportation-in, $51; postage expenses, $78; and miscellaneous expenses, $116. the petty cashier could not account for a $14 shortage in the fund. the company uses the perpetual system in accounting for merchandise inventory. prepare (1) the september 9 entry to establish the fund, (2) the september 30 entry to reimburse the fund, and (3) an october 1 entry to increase the fund to $380.
Most firms have petty cash on hand, which is a small sum of money kept on site to cover the bare minimum operating cash requirements.
Petty cash needs to be regularly watched to prevent theft since it is frequently kept in cash in a place that is visible to employees, which increases the risk of accidentally missing receipts to account for funds used. All expenses are supported by a receipt to support the expense and for trial coding purposes, and petty cash is kept under control.
What Is Petty Cash?
A petty cash fund is a small sum of company money that is frequently kept on hand (for example, in a secured drawer or box) to cover unimportant or trivial expenses like office supplies or employee reimbursements.
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on march 10, blarney corporation issued for cash 10,000 shares of no-par common stock at $40. the journal entry to record this transaction would include a debit to cash for $10,000 credit to cash for $400,000 credit to common stock for $400,000 credit to common stock for $100,000
The journal entry for issuance of cash 10,000 shares at $40 will be -
Cash a/c Debit ($10,000)
To Credit to common stock ($400,000)
A journal entry is the process of maintaining records of any financial or non-financial transaction.
An accounting journal, which demonstrates a firm's both debit and credit balances, records transactions. The journal entry can be composed of multiple recordings, each of which represents either a debit or a credit. Otherwise, the journal entry is recognized inconsistent if the total of the debits does not equivalent the combined score of the credits.
Journal entries can record one-time occurrences or regularly occurring happenings like devaluation or bond amortization. Journal entries are typically entered in a separate segment from trade payables, which generally includes its own subledger that influences the general ledger implicitly.
The complete question is here:
on March 10, blarney corporation issued for cash 10,000 shares of no-par common stock at $40. the journal entry to record this transaction would include a
(a) debit to cash for $10,000
(b) credit to cash for $400,000
(c) credit to common stock for $400,000
(d) credit to common stock for $100,000
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effect of omitting adjusting entry the adjusting entry for accrued fees was omitted at the end of the current year. indicate which items will be in error, because of the omission, on (a) the income statement for the current year and (b) the balance sheet at the end of the year. also indicate whether the items in error will be overstated or understated.
The understatement of revenues, net income, assets (accounts receivable), and owner's equity results from the omission to record correcting entries for accrued fees.
At the conclusion of the current year, the impact of removing the adjusting item for accrued fees was removed. This implies that the omitted items—revenues, net income, assets (accounts receivable), and owner's equity—will contain errors.
a) An income statement shows the recurring revenues, expenses, and profitability of a company. It is also sometimes referred to as a profit-and-loss (P&L) or earnings statement. Your sales revenue for products and services is shown. Accounts Receivable, costs associated with running your business and making money.
b) Why is a balance sheet produced at the end of the year?
The balance sheet shows the financial condition of a company on December 31 at the end of an accounting period. A company's balance sheet reveals its: Assets (resources gained through previous deals) (resources that were acquired in past transactions) Liabilities (debts from customers and commitments) (obligations and customer deposits).
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How you would solve the problem or address the issue? Be specific. Please include dialogue to express your thoughts if it seems appropriate and makes sense with the given situation.
If you feel that there are several ways to handle any of the scenarios, please discuss all options.
What, if any, tips or steps from the unit (gather relevant info, identify alternatives, weigh evidence, make a choice and take action, accept the outcome) did you use in order to reach your solution/decision? Be specific and explain.
You are the manager of a small marketing company. One of your employees is dressing inappropriately for an office setting. Other employees are complaining that it is distracting them from their work. You have spoken to the employee about this issue twice, and nothing has changed. The employee is a solid worker and their inappropriate dress is the only issue that you have with them.
What do you do?
What you would do with the employee would be to talk to him again, formally request that he dress appropriately and not distract his co-workers.
What tips or unit steps would you take to reach a solution?I would first collect the information about the issues that relate to this employee. For example, I would take screenshots from the security cameras to have proof that you are wearing inappropriate clothing. On the other hand, he would take the official testimony of his companions about the acts of distraction that he performs on them.
Subsequently, I would evaluate the alternatives we have with this employee, taking into account that his performance is good but that it means a problem for the company due to his behavior towards others and his appearance. For example he could be transferred to another department of the company.
Ultimately I would make the decision to have a formal conversation with him and a written request that he modify his behavior in accordance with the company's rules or else he will be fired for not abiding by internal laws.
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What is the benefit of having financial security? (1 point)
O ability to avoid stress and gain a sense of control
O
ability to stop saving money
O ability to quit working and enjoy yourself
Oability to spend as much as you want
Answer:1.ability to avoid stress and gain a sense of control
2.to prioritize saving regularly without exception
3.The deposit occurs automatically, so there is less temptation to spend the money.
4.A quantity of money set aside in case something bad happens.
5.six months’ expenses
Explanation: I finished the quick check
Answer: first one is correct
Explanation:
if a check correctly written and paid by the bank for $419 is incorrectly recorded in the company's books for $491, how should this error be treated on the bank reconciliation?
Add $72 to the book's balance if a check that was duly written and paid by the bank for $419 was mistakenly entered in the business's records for $491.
How does book balance work?According to its accounting records, a company's book balance represents its cash position. Transactions that haven't settled or cleared through the bank account may be included in the book balance. A company's book balance and bank balance are compared at the end of an accounting period via the monthly bank statement.
How are book balances determined?The amount of the adjusted bank balance is determined by removing all outstanding checks, adding all pending deposits, subtracting all adjustments, and adding the amount entered in the Statements Ending Balance field in Reconcile Bank.
What is a reconciliation of books?Reconciliation of the Books is the reconciliation process used by the company to check that the books are accurate and free of fraud or manipulation before the company's books of accounts are closed.
Briefing:
If started with bank, then the difference amount i.e;
$72 (491 - 419) must be added to book balance.
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he starts his presentation by saying this pathway includes careers which involve the planning, management, and control of the physical distribution of materials, products, and people. what career pathway is jim talking about?
Logistics Planning and Management Services is the career pathway about which the Jim is talking about .
What is Logistics Planning ?
The movement (flow and storage) of items, information, products, and services within the supply chain is the emphasis of logistics strategy, whereas manufacturing inside the supply chain, materials handling, and inventory management are the focus of logistics operations.
From a product's point of origin to its point of consumption, logistics is the effective movement and storage of that commodity. Contrarily, operation planning refers to an organization's approach that influences every area of production. Workforce activities and product delivery are also included in these initiatives.
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In our road trip to 10 haunted us highways, we included route 44 in rehoboth, massachusetts. For more than three decades, drivers there have reported encounters with a ghostly hitchhiker who mysteriously appears where?.
For more than three decades, drivers there have reported encounters with a ghost passerby who mysteriously appears where the empty back seats are.
Highways can be divided into two types, namely by type and function. Types of highways based on their function are divided into four namely arterial roads, local roads, collector roads and environmental roads.
1. Arterial Road
Arterial roads are public roads used by private vehicles and transportation vehicles. Arterial roads can be divided into two types, namely primary arterial roads and secondary arterial roads.
2. Local Road
Local roads are roads used by local transportation only. Local roads only have short distances, low speeds and there are barriers at the entrance. Local roads are also divided into two types, namely primary local roads and secondary local roads
3. Collector Street
Collector road is a road that is indicated for general collector or distribution vehicles. The main feature of this road is a moderate speed limit and medium vehicle speed and there is a limit. Collector roads are divided into two, namely secondary collector roads and primary collector roads.
4. Environmental Road
The last is environmental roads, environmental roads are public roads that are only shown for environmental transportation. The characteristics of this road are low mileage and there is a low-speed limit. Environmental roads are also divided into two, namely secondary environmental roads and primary environmental roads.
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n a direct conversion, if a taxpayer defers the recognized gain on the exchange of property, the adjusted basis in the property received is equal to the
If a taxpayer defers the recognized gain on the exchange of property in a direct conversion, the adjusted basis in the property received is equal to the taxpayer's basis in the property involuntarily converted.
If qualified replacement property is obtained within the replacement period, a property owner may be able to postpone acknowledging profit on an involuntary conversion.
If individuals obtain property that is identical or similar in offering or function to the converted property, individuals do not report the gain. The new property's basis is the same as the converted property's basis. The profit on the involuntary conversion is postponed until there is a taxable sale or exchange.
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power drive corporation designs and produces a line of golf equipment and golf apparel. power drive has 100,000 shares of common stock outstanding as of the beginning of 2021. power drive has the following transactions affecting stockholders' equity in 2021. march 1 issues 65,000 additional shares of $1 par value common stock for $62 per share. may 10 purchases 6,000 shares of treasury stock for $65 per share. june 1 declares a cash dividend of $2.00 per share to all stockholders of record on june 15. (hint: dividends are not paid on treasury stock.) july 1 pays the cash dividend declared on june 1. october 21 resells 3,000 shares of treasury stock purchased on may 10 for $70 per share. required: record each of these transaction
The basic accounting process of recording transaction involves a few steps. Identifying the transaction and the affected accounts is the first step. Recording in the specific accounts is the second step. Numbers entered into the debit and credit sections must be done carefully.
What is debit and credit?When money enters an account, it is recorded as a debit (dr), while it is recorded as a credit (cr), when it leaves.
Date Particulars Debit Credit
Mar 1 Cash A/c (65000 × $62) Dr 4030000
Common stock A/c (65000 × $1) 65000
Additional pain-in capital 3965000
May 10 Treasury shares A/c (6000 × $65) Dr 390000
Cash A/c 390000
June 1 Cash Dividend A/c Dr 318000
Dividend payable A/c 318000
(100000 + 65000 + 6000) × $2
July 1 Dividend payable A/c Dr 318000
Cash A/c 318000
Oct 21 Cash A/c (3000 × $70) Dr 210000
Treasury shares A/c (3000 × $65) 195000
Additional pain-in capital A/c 15000
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what is the third step in the actions employers should take when creating and implementing electronic communications policies? monitor electronic use for business purposes only. develop an electronic communications policy. communicate the policy to employees. obtain signed permission from employees to say they understand the policies.
Get staff members to confirm that they understand the policy by signing as the third stage in the procedures companies should follow when developing and putting into place electronic communications rules.
Policy is a planned set of rules intended to direct choices and produce logical results. A policy is an intention declaration that is put into practice by a method or routine. A governance body inside a company typically adopts policies. a collection of recommendations or a strategy for action that has been officially accepted by a group of individuals, a commercial organization, a government, or a political party. In a nutshell, an employee is defined as "a person who works for another in exchange for financial or other compensation." 3 Independent contractors would seem to be considered employees based on that description. A solid and enduring organization is built on its workforce. Regardless of level, workers are in charge of the company. This means that they cannot be valued as assets based on their strength, dedication, and emotional connection to the company.
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Which of the following is the safest investment?
stocks
government bonds
mutual funds
cryptocurrencies
The safest investment among these is B. government bonds.
What are government bonds?Government bonds issued by the national government are debt instruments for raising money to support government activities.
Examples of government bonds include U.S. treasury bonds issued by the federal government and municipal bonds, issued by counties.
Government bonds assure the bondholders of regular interest payments and debt repayment at maturity without fail, unlike corporate bonds.
Stocks issued by corporate organizations, mutual funds by financial institutions, and cryptocurrencies, like bitcoin cannot compare with government bonds in safety terms.
Thus, risk-free investments remain Option B.
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you have been appointed head of marketing for barry's younique yachts. barry, the ceo, is interested in determining whether offering his yachts at a lower price would increase the firm's revenue. he asks you for advice. using your knowledge of elasticity, you should tell barry
You should tell Barry that he should reduce his prices. Yachts are luxury goods and therefore exhibit a high price elasticity of demand. Thus, reducing prices would increase revenue.
What is elasticity?Elasticity is a measurement of a variable's sensitivity to changes in other variables; most frequently, this sensitivity is the change in quantity demanded in relation to changes in other factors, like price.
Price elasticity, as used in business and economics, describes the extent to which individuals, consumers, or producers alter their demand or the volume of their supply in response to changes in price or income. It is primarily used to evaluate how a change in the cost of a good or service affects consumer demand.
Unlike necessities, which are typically highly inelastic, the demand for luxury goods is typically highly elastic.
A demand that is elastic means that the amount demanded would be significantly affected by a change in price.
As a result, if the price of yachts, a luxury good with high elasticity, is reduced, demand for yachts will rise and profits will rise.
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Describe the role of the entrepreneur in the decision making process.
Outline the following roles of an entrepreneur in economic development:
a) collaborating;
b) providing goods and services to satisfy citizens;
c) creating jobs ; and,
d) contributing to nation building
The following roles of an entrepreneur in economic development is generally and actually providing goods and services to satisfy citizens Option(b) is correct.
What is Economic Development?In the economics investigation of the public area, economic and social development is the cycle by which the economic prosperity and personal satisfaction of a country, district, neighborhood local area.
The term has been utilized often in the twentieth and 21st hundreds of years, yet the idea has existed in the West for far longer. "Modernization", "Westernization", and particularly "industrialization" are different terms frequently utilized while talking about economic development.
Therefore Option(b) is correct By and large, economic development arrangements zeroed in on industrialization and foundation; since the 1960s, it has progressively centered around neediness decrease.
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riesa is an attorney who specializes in real estate and land-use law. together with her wife, she also owns a property management company with over 2,000 apartment units in the metro area. riesa is experienced in goal setting and strategic planning. if you were the commissioner of the city’s housing authority, to which role would you most likely nominate riesa?
Board of regents role would you most likely nominate Riesa .
The Regent is responsible for the general oversight of all educational activities in the state and presides over the colleges and the New York State Department of Education. The Regent is organized into standing committees, subcommittees, and working groups, whose members and chairs are appointed by the Prime Minister.
The Regent board shall consist of her twenty-six members as defined in Article IX, Section 9, each of whom shall have one vote. The 18 regents are appointed by the governor for 12-year terms. One is a student appointed by the Regent for her one-year term.
A majority of the Board (18 Regents) are appointed for 12-year terms upon nomination by the Governor of California and confirmation by the California Senate. Student Trustees are selected by the Board to represent students for one-year terms through a recruitment process administered by the Board.
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the primary way a website is able to personalize the content presented to a visitor is through the use of: group of answer choices cookies. accessibility rules. privacy policies. site management tools.
The primary way a website is able to personalize the content presented to a visitor is through the use of cookies.
A website is a collection of interconnected web pages that generally reside on the same server containing a collection of information provided by individuals, groups, or organizations. The website is a collection of components consisting of text, images, sound, animation, video so that it is more of an interesting medium of information to visit.
The inventors of the website were Sir Timoty and Tim Berners Lee, while the first network-connected website appeared in 1991. On April 30, 1993, CERN (where Tim worked) announced that the WWW could be used free of charge by the public. WWW is a program invented by Tim Berners Lee in 1991.
At first Berners Lee just wanted to find a way to keep the archives of his research. He developed a system for personal use. The system was a software program dubbed Equire. WWW was first developed at the European Research Center for Particle Physics (CERN), Geneva, Switzerland. In the summer of 1991, the official WWW was widely used on the Internet.
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what number taken off 20% equals $304
The number which is taken off 20% equals $304 is 20.
Here we will replace the given values in formula (a):
Amount saved = Original price x the discount in percent / 100.
= $304 x 20% / 100
= 6080 / 100
Amount Saved = $60.8 (answer).
Here, a 20% discount for an item with original price of $304 = $60.8
Thus, in order to find the amount saved, multiply it by the percentage and / 100.
Use the formula (b) and replace the given values:
Sale price = Original Price - the amount saved.
Sale Price = $304 - $60.8 = $243.2
One will pay $243.2 for an item with its original price of $304 when it is discounted by 20%.
Suppose, if one buy an item at $304 with a 20% discount, they have to pay $243.2
Use the formula (b) and replace the given values:
Amount Saved = the priginal price × discount in percent /100.
60.8 = $304 × discount in percent / 100
60.8 / $304 = discount in percent / 100
100 × 60.8 / $304
6080 / $304
Discount in Percent = 20
Hence, the number which is taken off 20% equals $304 is 20.
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chelan is a manager and must measure the performance of her employees. the method she uses requires her to analyze the performance of each employee in relation to other workers. what is the approach that chelan will be using?
As Chelan is required to measure the performance of her employees by analyzing the performance of each employee in relation to other workers, the type of approach that she will be using is known as a comparative approach.
What is a comparative approach?Basically, a comparative approach can be related to a comparative analysis, as they involves the process of comparing items to one another and distinguishing their similarities and differences. When most firm wants to analyze an idea, problem, theory etc, they conducts a comparative analysis to better understand the issue and form strategies in response.
In conclusion, a comparative approach is very useful to achieve a goal because it allows for controlling the contextual variation.
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Compare the public sector with a sole trader by
Ownership
Control
Finance
The public sector is controlled by different governments and the sole trader, the business is wholly managed and controlled by the individual proprietor.
Describe the public sector.The public sector is the segment of the economy that is made up of all tiers of government and businesses that are under government control. Private businesses, nonprofit organizations, and households are excluded.
What is a sole proprietor?A self-employed person who owns and operates their firm as an individual is known as a single trader. Since a sole proprietorship lacks a distinct legal identity from its owner, many people believe that the sole proprietor is also the business.
Contrast the public sector with a sole proprietorshipThe sole proprietorship, also known as a sole trader or sole proprietorship, is an unincorporated business with a single owner who pays personal income tax on business profits, as opposed to the private sector, which includes government ownership or control rather than just function and as a result includes, for example, the exercise of public authority.The area of an economic system that is under the jurisdiction of national, state or provincial, and municipal governments is known as the public sector. The business is fully and entirely under the sole proprietor's management and control.A sole trader is a self-employed individual who owns and manages a firm, whereas public finance refers to the administration of a nation's income, outlays, and debt load through various governmental and quasi-governmental agencies.Learn public sector: https://brainly.com/question/28255257
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chuck, a single taxpayer, earns $77,800 in taxable income and $13,100 in interest from an investment in city of heflin bonds. (use the u.s. tax rate schedule.)
The amount of additional tax paid for each new dollar of income received is known as the marginal tax rate then the marginal rate is 21.08%.
What is meant by marginal tax rate?The amount of additional tax paid for each new dollar of income received is known as the marginal tax rate. Total taxes paid divided by total income earned is the average tax rate. With a marginal tax rate of 10%, tax would be deducted from the following dollar of income at a rate of 10%.
The marginal tax rate is the amount of additional tax that must be paid for each additional dollar of income received. The average tax rate is calculated as total taxes paid divided by total income earned. If the marginal tax rate were 10%, tax would be subtracted at a 10% rate from the next dollar of income.
A. marginal tax rate = Change in Tax / Change in Taxable Income
substituting the values in the above equation, we get
= ($21,889.50 - $12,439.50) / ($115,000 - $75,000)
= $9,450 / $40,000
= 23.63%
Therefore, the marginal tax rate is 23.63%.
B. Marginal rate = Change in Tax / Change in Taxable Income
substituting the values in the above equation, we get
= ($4,009.50 - $12,439.50) / ($35,000 - $75,000)
= -$8,430 / -$40,000 = 21.08%
Therefore, the marginal rate is 21.08%.
The complete question is:
Chuck, a single taxpayer, earns $75,000 in taxable income and $10,000 in interest from an investment in City of Heflin bonds. (Use the U.S. tax rate schedule.)
A. If Chuck earns an additional $40,000 of taxable income, what is his marginal tax rate on this income?
B. What is his marginal rate if, instead, he had $40,000 of additional deductions?
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lamont communications has amortized a patent on a straight-line basis since it was acquired beginning of 2015 at a cost of $50 million. during 2018 management decided that the benefits from the patent would be received over a total period of 8 years rather than the 20-year legal life being used to amortize the
A patent balance of $34 million. A patent is classified as an intangible asset because it lacks physical substance but provides long-term value to the entity that owns it.
What exactly is a patent in a balance sheet?As a result, patent accounting is the same as that of any other intangible fixed asset, which is: The first recording. An intangible asset is one that lacks a physical form. Goodwill, brand recognition, and intellectual property such as patents, trademarks, and copyrights are examples of intangible assets.According to Accounting Tools, a patent is an intangible asset. These are non-physical assets with a useful life of more than a year, also known in accounting as "multi-period useful life." Patents, copyright, trademarks, customer lists, and broadcast rights to sporting events are examples of intangible assets.Therefore,
A patent balance of $34 million
[($50-$7.5)/(8-3) years] $50m-16m=$34m
$50=given
$7.5= (2.5x3yrs)
2.5= 20 yr legal life/8 total years
8= life of the patent
3= # of years passed
16= (2.5x3)
The complete question is:
Lamont communications has amortized a patent on a straight-line basis since it was acquired in 2015 at a cost of $50 million. During 2018 management decided that the benefits from the patent would be received over a total period of 8 years rather than the 20-year legal life being used to amortize the cost. Lamont's 2018 financial statement should include:
A. A patent balance of $50 million
B. Patent amortization exp of $2.5 million
C. Patient amortization exp of $5 million
D. A patent balance of $34 million
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Additional benefits such as health insurance, retirement benefits, or life insurance that are paid by the employer are called benefits. True or false?.
True usually requires that firms with 20 or more employees in the previous year offer employees and their families group health benefits.
What health advantages come with retirement?Health insurance that some employers, unions, and trusts may provide to retiring employees and their spouses is known as retiree health coverage. It usually consists of group health insurance comparable to the programs provided to active employees. Each employer's retiree plan has its own set of rules regarding eligibility, enrollment, coverage, and other issues.
What does it mean when an employer pays all or a portion of a cost, like health insurance?Premiums are agreed-upon costs that are paid in exchange for medical benefits coverage for a specific benefit period. Employers, unions, employees, or both the covered person and the plan sponsor may contribute to the cost of premiums.
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carlow industries has a total inventory of $837,000. if they have $129,000 in raw materials and $265,000 in work-in-process, how much inventory do they have available for sale?
They have $443,000 inventory for sale when work-in-process and raw materials cost is given.
Work in process (WIP) inventory refers to partially finished materials in any production round. The overall cost of incomplete goods currently in production is referred to as work in process in manufacturing and supply chain management.
The total cost of a company's constituents, sub - assemblies, and supplies that are currently in stock but have not been used for production is referred to as raw materials inventory. The cost of goods available for sale is calculated by adding the cumulative value of current inventory to the cost to produce that inventory.
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Discuss how Hassan’s transformation is different or similar to that of other characters in the book. (The hundred foot journey)
The similarity and difference between Hassan and Amir (other character) in the story is as follows:
Similarity: Act of loyalty is the common features for both Hassan and Amir.Differences: This features is observed in respective family and origin as well as their attitudes to life, friendship, and respect which make them too close and too far to each other simultaneously.What is the relationship between Hassan and Amir?At the beginning of the story, both character are childhood friends who enjoys each other's company and spend their days playing together. Even though Hassan is Amir's servant and of a lower social status, he is the braver and physically stronger of the two boys.
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t many airports, a person can pay only $1 for a $100,000 life insurance policy covering the duration of the flight. in other words, the insurance company pays $100,000 if the insured person dies from a possible flight crash; otherwise the company gains $1. suppose that past records indicate 0.45 deaths per million passengers. how much can the company expect to gain on one policy? on 100,000 policies?
At many airports, a person can pay only $1 for a $100,000 life insurance policy. The company can expect to gain $99,999 on one policy on 100,000 people.
Gain values : $1 ;-$999,999
The Probabilities of those gain value :
999,999.55/1000000
0.45/1,000,000
E(x) = [999999.55 - 0.45)/1000000 = 0.99999999.
On 100,000 people the company can expect to make:
Gain = 100000*0.999999999
Gain = $99,999
So, the company can expect to gain $99,999 on one insurance policy on 100,000 people.
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determine if each example represents a barrier to entry or not. a. pfizer is the only firm that is legally allowed to produce and sell lipitor, a best‑selling cholesterol drug. b. debeers owns nearly all of the world's diamond mines. c. boeing already serves a large fraction of the jumbo jet market and is able to produce at a lower average cost than any potential competitors. d. tinseltown theaters shows almost all the most popular newly‑released movies.
Nearly all of the diamond mines in the world are owned by DeBeers. is difficult to enter since it is almost a monopoly. DeBeers owns nearly all of the world's diamond mines Option B
What is happening in diamond mines?Generally, The jumbo jet market is already heavily served by Boeing, which can also build its products at a lower average cost than any possible rivals. - is a natural monopoly, which makes it an obstacle to entrance.
There is no access barrier since other theaters may also play the majority of the most well-liked recently released films like Tinseltown Theaters does.
Only Pfizer is authorized by law to manufacture and distribute Lipitor, one of the most popular cholesterol medications. is an entrance barrier since it is a lawful monopoly.
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suppose that you have been working at your job for one year and are considering asking your boss for a raise. your super-helpful economics professor cautions you to be aware of the elasticity of demand for labor before you do. what is the elasticity of demand for labor? a measure of how much firms' profits are affected by changes to wages. a measure of the extra revenue earned by the firm resulting from hiring one more unit of labor. a measure of how upset your boss is when his employees ask for more money. a measure of how responsive firms' supply of labor is to changes in the wage rate. a measure of how sensitive the amount of labor firms will hire is to changes in the wage rate. a measure of the sensitivity of wage rates to the unemployment rate.
The right response, which is a measurement of the additional money the company generated as a result of hiring one more unit of labor, is option (b).
What is the elasticity of the labor market?The elasticity of labor demand assesses how easily the demand for labor can fluctuate in response to a change in the wage rate. It quantifies the proportional change in labor demand when the wage rate also changes proportionately, in other words.
Why does labor demand become more elastic over time?In comparison to the short run, the labor demand has a tendency to be more elastic over the long run. Given more time to acclimatize to price fluctuations over time, consumers can respond more intelligently. As a result, the demand for the workers who produce the final good is more elastic.
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the following financial statements and additional information are reported. ikiban incorporated comparative balance sheets at june 30 2021 2020 assets cash $ 102,700 $ 52,000 accounts receivable, net 77,000 59,000 inventory 71,800 98,500 prepaid expenses 5,200 7,000 total current assets 256,700 216,500 equipment 132,000 123,000 accumulated depreciation—equipment (31,000) (13,000) total assets $ 357,700 $ 326,500 liabilities and equity accounts payable $ 33,000 $ 42,000 wages payable 6,800 16,600 income taxes payable 4,200 5,400 total current liabilities 44,000 64,000 notes payable (long term) 38,000 68,000 total liabilities 82,000 132,000 equity common stock, $5 par value 236,000 168,000 retained earnings 39,700 26,500 total liabilities and equity $ 357,700 $ 326,500 ikiban incorporated income statement for year ended june 30, 2021 sales $ 718,000 cost of goods sold 419,000 gross profit 299,000 operating expenses (excluding depreciation) 75,000 depreciation expense 66,600 157,400 other gains (losses) gain on sale of equipment 2,800 income before taxes 160,200 income taxes expense 44,690 net income $ 115,510 additional information a $30,000 notes payable is retired at its $30,000 carrying (book) value in exchange for cash. the only changes affecting retained earnings are net income and cash dividends paid. new equipment is acquired for $65,600 cash. received cash for the sale of equipment that had cost $56,600, yielding a $2,800 gain. prepaid expenses and wages payable relate to operating expenses on the income statement. all purchases and sales of inventory are on credit. required: (1) prepare a statement of cash flows using the indirect method for the year ended june 30, 2021. (amounts to be deducted should be indicated with a minus sign.)
In order to calculate the ratio you must first calculate the cash flow generated or used from operating activities, as shown below.
Cash flows from operating activities
Profit $115,510
Adjustments for:
Depreciation Expense $66,600
Working capital changes:
(Increase) / Decrease in the trade and other receivables -18,000
(Increase) / Decrease in the inventories $26,700
(Increase) / Decrease in prepaid expenses $1,800
Increase / (Decrease) in trade payables $-9,000
Increase / (Decrease) in wages payable -9,800
Increase / (Decrease) in income tax payable -1,200
Cash generated / provided by operations $172,610
So then, divide cash generated / provided by operations by average total assets.
$172,610 is the cash generated
Average total assets = ($82,000 total assets June 2017 + $132,000 total assets June 2016) / 2
$172,610 / $107,000 = $1.61 cash flow on the given total assets ratio
Hence, for every $1 in total assets the company generates $1.61 of cash flow.
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Lira inc. Manufactures luxury watches for men under the brand name felix. The company decides to sell luxury perfume under the same brand name to capitalize on its brand equity. This type of brand strategy is called?.
Lira inc. Manufactures luxury watches for men under the brand name Felix. The company decides to sell luxury perfume under the same brand name to capitalize on its brand equity. This type of brand strategy is called brand extension
This is further explained below.
What is a brand extension?Generally, Using the same brand name in a new product category is an example of a marketing technique known as "brand extension" or "brand stretching." This tactic is used by a company that is promoting a product that already has a positive image.
A sp\in-o\ff is a name given to a new product. This tactic is used by companies in order to boost their brand equity and maximize their potential.
In conclusion, Under the brand name Felix, Lira. creates high-end wri/stwa/tches aimed only at male consumers.
In order to make the most of its brand value, the corporation makes the decision to offer high-end perfume under the same brand name. Brand extension is the name given to this particular marketing technique.
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