If 700 guests are served, we can predict the proportion of seafood hot pots that will be sold Popularity based on the popularity index.
The popularity index shows how popular a menu item is in relation to other options.We may multiply the popularity index of seafood hot pot by the anticipated total number of guests served (700) to determine the anticipated number of seafood hot pots sold: Predicted sales of seafood hot pots = seafood hot pot's popularity index * anticipated amount of visitor..Using the provided data, the predicted attendance is 700, and the popularity index of Seafood Hot Pot is 125. Thus:Seafood Hot Pot sales forecast: 125/500 * 700 = 0.25 * 700 = 175
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An appropriate entry for a sale on account would include which of the following?
An appropriate entry for a sale on account would include the debiting of accounts receivable and the crediting of sales revenue.
When a company sells goods or services on credit, it generates accounts receivable (AR). AR is an asset that represents the amount that customers owe the business. When a customer pays its bill, the AR account decreases, and the cash account increases. The seller may or may not offer an allowance for sales returns or discounts. If an allowance is granted, the seller must record the transaction accordingly. If the goods are sold with credit terms of 2/10, n/30, the customer receives a 2% discount if they pay within ten days.
If the payment is made after ten days but within 30 days, no discount is given. Finally, if payment is made after 30 days, the account is considered past due and subject to finance charges, collection fees, and other penalties. Companies use an accounts receivable aging report to track which accounts are delinquent and to take appropriate action. So therefore the debiting of accounts receivable and the crediting of sales revenue are an appropriate entry for a sale on account.
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An entity was incorporated on January 1, 2015 with proceeds from the issuance of P 7,500,000 in shares and borrowed funds of P1,100,000. During the 1st year of operations, revenue from sales an consulting amounted to P820,000, and operating costs and expenses totaled P640,000. On December 15, the entity declared a P30,000 cash dividend, payable to shareholders on January 15, 2016. No additional activities affected owners' equity in 2015. The liabilities increased to P1,200,000 by December 31, 2015. What amount should be reported as total assets on December 31, 2015?
The total assets on December 31, 2015 should be reported as P 8,680,000.
The balance sheet equation can be used to figure out the assets and liabilities of a company. The balance sheet equation is as follows: Assets = Liabilities + Equity. In order to calculate the total assets of a company, we need to know the liabilities and equity. In the problem, we have been provided with the liabilities and we can calculate the equity as follows: Equity = Proceeds from the issuance of shares + Borrowed funds - Dividends Proceeds from the issuance of shares = P 7,500,000Borrowed funds = P 1,100,000 Dividends = P 30,000 Equity = P 7,500,000 + P 1,100,000 - P 30,000Equity = P 8,570,000 Now, we can calculate the total assets as follows: Total Assets = Liabilities + Equity Total Assets = P 1,200,000 + P 8,570,000Total Assets = P 8,680,000Hence, the total assets on December 31, 2015 should be reported as P 8,680,000.
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Choose a business that you would like to set up. What does it do?
Where would you locate it and why?
You find that you needed to hire 5 employees (in addition to yourself): 1 manager and 4 support staff. What would you look for in these new recruits? NB. The manager will need different attributes compared to the rest. (15 marks)
How would you improve quality in your business? Please list and justify 5 improvements.
How would you know if you are doing well in your business?
The business that I would like to set up is a retail store that specializes in selling organic food items, natural health remedies, and supplements. This business would be called "Healthy Living Market."
The store will have products that cater to people who want to live a healthy lifestyle. This store will not only have products for people with dietary restrictions, but also for people who want to make a positive change in their health.
The location for this business would be in a shopping center that is located in the center of the city. This location would be ideal because it is accessible to the public, and there is plenty of foot traffic. It is also located near residential areas, making it convenient for customers to come and go. In addition, the store would be environmentally friendly with an aim to reduce carbon footprint and to promote recycling.
When looking for new employees to add to the team, I would be looking for people who are passionate about healthy living and customer service. The manager must be able to multitask, have strong communication skills, be a problem solver, and a leader. The support staff should have excellent customer service skills, attention to detail, and able to work well with others.
Improving the quality of the business would be done through five key improvements. These include:
1. Providing excellent customer service to ensure customers have a positive experience.
2. Offering competitive pricing to encourage repeat business.
3. Ensuring that products are of high quality and ethically sourced.
4. Introducing new products that align with the business' vision of promoting healthy living.
5. Engaging with customers through social media to understand their needs and preferences better.
To determine if the business is doing well, we would monitor various metrics, including sales revenue, customer feedback, and employee satisfaction. By doing this, we can make changes to improve the business and ensure that we continue to meet customer needs.
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which of the following statements are incorrect about why it is so hard to beat passive funds/value weighted diversified investment strategies? according to academic study, 96% stocks only earn a return close to risk free rate, because the majority of these stockes disappeared from the stock market. therefore, the market portfolio consists of the long term winners which represent only 4% of the entire stock universe that has been ever listed in the past 100 years. this extreme skewness implies that a concentrated stock picking strategy has extremely high chance of failure relative to a diversified strategy with value weighting, because the latter has a higher chance to cover the long term winner stocks in the portfolio. through trading, market price effectively reflect the opinions all traders who come from different parts of the economy. as a result, information is aggregated. this information sharing could result in the best solution that is even better than the smartest investor in the world, this is just like students sharing wrong answers to their exams can score even higher than the best performing student in class, if these students (but not the best performing student) are allowed to take the exam the second time. this conclusion holds only if there are sufficient diversification. in other words, people cannot have the same set of information (figuratively, students cannot choose the same wrong choice for a question). if only one person has the truth, and he has a very small amount of capital, everyone else are pure noise traders, then the truth may still be priced in eventually because noise traders will cancel out their noise (akin to diversification) if these noise traders are pure random noise. none of the choices given.
It is not dificult to beat passive funds or value-weighted diversified investment strategies.
An academic study has shown that 96% of stocks can only generate returns close to the risk-free rate, indicating that the majority of these stocks have vanished from the stock market.The remaining 4% of the long-term winners are in the portfolio of the market, which means that a stock-picking strategy that is too concentrated is more likely to fail when compared to a diversified strategy that has value weighting.Because the market price reflects the opinions of all traders who come from different parts of the economy, information is aggregated. However, the conclusion holds only if there are enough diversifications. In other words, if people have the same set of information, the truth may still be priced in eventually.
Therefore, none of the statements given are incorrect.
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What are some solutions for Amazon to fix employee relations?
Specifically with uneasy work conditions and an injury prone
environment?
To address uneasy work conditions and an injury-prone environment, Amazon should prioritize workplace safety, enhance communication channels, implement fair workload management strategies, and foster a culture of respect and recognition.
Firstly, improving workplace safety measures by implementing robust safety protocols, providing adequate safety equipment and training, and conducting regular risk assessments can help create a safer work environment. Secondly, enhancing communication channels through regular employee feedback sessions, town hall meetings, and anonymous reporting mechanisms can allow employees to express their concerns and provide valuable insights. Thirdly, implementing fair workload management strategies, such as optimizing scheduling practices and providing sufficient rest breaks, can help mitigate the physical strain on employees. Additionally, fostering a culture of respect and recognizing employee contributions through rewards and recognition programs can boost morale and improve overall employee satisfaction. Regular monitoring and assessment of these solutions will be essential to ensure their effectiveness and make necessary adjustments.For more such questions on workload management strategies:
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Which of the following is true about the cost of common
stock?
It should be adjusted for taxes (hint: think of if it pays
kids or dogs) and ALWAYS adjusted
for flo
The statement "It should be adjusted for taxes (hint: think of if it pays interest...aka kids or dividends...aka dogs) and ALWAYS adjusted for flotation costs (think retained earnings vs new equity)" is not entirely accurate. The cost of common stock is not typically adjusted for taxes or flotation costs.
Here's a more accurate explanation:
The cost of common stock represents the return expected by investors in the form of dividends and capital appreciation. It is influenced by factors such as the company's dividend policy, risk, market conditions, and investor expectations. However, it is generally not adjusted for taxes or flotation costs.
Taxes: The cost of common stock is not adjusted for taxes. Dividends received by individual shareholders may be subject to taxation, but this does not directly affect the cost of common stock itself. The cost of common stock is determined based on the expected return required by investors before taxes.
Flotation Costs: Flotation costs are the expenses incurred by a company when issuing new equity. These costs include underwriting fees, legal fees, and other expenses. While flotation costs can impact the net proceeds received from issuing new equity, they are not typically factored into the calculation of the cost of common stock. The cost of common stock is based on the expected return demanded by investors and is not directly influenced by the costs associated with issuing new equity.
In summary, the cost of common stock is not adjusted for taxes or flotation costs. It represents the return expected by investors in the form of dividends and capital appreciation and is determined based on factors such as the company's dividend policy, risk, market conditions, and investor expectations.
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Which Of The Following Is True About The Cost Of Common Stock? It Should Be Adjusted For Taxes (Hint: Think Of If It Pays Interest...Aka Kids Or Dividends...Aka Dogs) And ALWAYS Adjusted For Flotation Costs (Think Retained Earnings Vs New
Which of the following is true about the cost of common stock?
It should be adjusted for taxes (hint: think of if it pays interest...aka kids or dividends...aka dogs) and ALWAYS adjusted for flotation costs (think retained earnings vs new equity)
It should be adjusted for taxes (hint: think of if it pays interest...aka kids or dividends...aka dogs) and SOMETIMES adjusted for flotation costs (think retained earnings vs new equity)
It should NOT be adjusted for taxes (hint: think of if it pays interest...aka kids or dividends...aka dogs) and ALWAYS adjusted for flotation costs (think retained earnings vs new equity)
It should NOT be adjusted for taxes (hint: think of if it pays interest...aka kids or dividends...aka dogs) and SOMETIMES adjusted for flotation costs (think retained earnings vs new equity)
Farran Holdings Ltd (the company) is an Irish company which imports luxury goods from other EU member states for sale in Ireland. However, the company has run into the following problems as of late:
(a) The Irish government recently launched a state-funded advertising campaign in which it encouraged Irish consumers to buy Irish-produced luxury goods. While the company has not yet noticed any impact on its sales in Ireland, it is worried about the possible future effects of this campaign;
(b) The Irish government has recently adopted legislation which prohibits luxury handbags (any handbag valued over €1,000) from being sold online in Ireland. The company makes around 50% of its sales of luxury handbags, as defined, online in Ireland. The Irish government adopted this rule to curb what it described as "shopping addiction";
(c) The Irish government has, ostensibly on health grounds, also adopted a new rule which prohibits the sale (not import) of any leather good containing chemical X. The Irish government bases this decision on a single scientific study conducted in 1964. No other EU Member State has such a ban on sales of leather goods containing chemical X. Traditionally, Irish producers of leather goods have never used chemical X;
(d) The Irish government has also adopted a rule which bans the import of fur coats into Ireland. This government states that the reason for this rule is the protection of animals. There is, however, no such ban on the production of fur coats in Ireland.
Advise the company as to compatibility of the Irish government’s actions with Article 34 TFEU.
The actions of the Irish government described in statement (a) and (b) are likely incompatible with Article 34 TFEU, which prohibits quantitative restrictions on imports and measures having equivalent effect, option (a) and (b) are correct.
Under Article 34 TFEU, the Irish government is a state-funded advertising campaign and legislation prohibiting online sales of luxury handbags may infringe upon the principles of free movement of goods. These measures could hinder imports from other EU member states and favor domestic products.
However, the government's ban on the sale of leather goods containing chemical X and the import ban on fur coats are more likely to be justified. Article 36 TFEU allows for restrictions on the free movement of goods on grounds of public morality, public policy, and the protection of health and life of humans, animals, or plants. The government's actions seem to be motivated by health and animal welfare concerns, providing a plausible justification for the restrictions, option (a) and (b) are correct.
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ABC is an import/export company that holds no inventories. Each period ABC earns a gross profit of 20% on sales, and has found that its period and trade payables balance always equates to 40% of cost of sales for that period.
For its next trading period, August, ABC has budgeted sales to fall by 10% from the level achieved in July of £332,000 and a further 5% fall is budgeted for September
The cash budget for ABC will therefore show the following amount payable to trade suppliers during the month of September (to the nearest pound) as:
£227.088
£231.800
£1283.800
£1289.536
For its next trading period, August, ABC has budgeted sales to fall by 10% from the level achieved in July of £332,000 and a further 5% fall is budgeted for September. The cash budget for ABC will therefore show the following amount payable to trade suppliers during the month of September (to the nearest pound) as:£231.800.
How to find the amount payable to trade suppliers during the month of September?Given, the company ABC has found that its period and trade payables balance always equates to 40% of cost of sales for that period.Gross Profit = 20% of SalesCost of sales = Sales - Gross ProfitABC budgeted sales to fall by 10% from the level achieved in July of £332,000 in August.Sales in August = £332,000 × 90% = £298,800The sales in September are expected to fall by a further 5% from August's sales.Sales in September = £298,800 × 95% = £283,260The cost of sales for August = £298,800 - (20% of £298,800) = £239,040
The cost of sales for September = £283,260 - (20% of £283,260) = £226,608Trade payable = 40% of cost of salesAmount payable to trade suppliers in September = 40% of £226,608 = £90,643.20Hence, to the nearest pound, the cash budget for ABC will therefore show the amount payable to trade suppliers during the month of September is £231.800.
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According to the textbook Crime and Justice in the City as Seen through The Wire
Discuss how the characters of The Wire that are involved in "the game" reflect the criminological theories stemming from the Chicago School. How do the informal controls and institutions of the neighborhood contribute to their overall experiences?
The informal control and institutions of the neighborhood contribute to the characters' overall experiences by shaping their behavior and reactions to different situations.
The Chicago School is a criminological theory that explains the relationship between social disorganization and crime. This theory focuses on understanding the neighborhoods' effect on the behavior and actions of individuals within the community. According to the textbook "Crime and Justice in the City as Seen through The Wire," characters involved in "the game" reflect the criminological theories stemming from the Chicago School.
In The Wire, criminological theories based on the Chicago School are reflected in the characters involved in "the game." The characters' social environments and experiences in the communities shaped their behavior. Social disorganization is portrayed in the characters' surroundings that are characterized by poverty, low economic status, inadequate social and community controls, and high crime rates.
The characters' behavior reflects the theories that people behave according to their environment and that certain areas promote criminal activities. For example, Avon Barksdale and Marlo Stanfield operate in the low-income housing projects and areas that have limited social controls and formal institutions. They used their economic status to establish their power in the community and had a strong influence on people in the neighborhood.The informal controls and institutions of the neighborhood contribute to the characters' overall experiences.
For example, Avon Barksdale and Marlo Stanfield had access to guns, and they used violence to gain control and protect their territory. The code of the streets is another example of informal control that dictates people's behavior. The code of the streets is an unwritten set of rules that govern interactions between people in the community.
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1. What impact does globalization have on the US economy, on the EU economy and on developing countries economy? Provide details
2. What are the political system, economic system and legal system differences between the US and China. Discuss benefits and liabilities of each system.
1. Impact of globalization on the US economy, EU economy and developing countries economy
Globalization has been significant in shaping the economies of different countries, from developed to developing nations. It has had both positive and negative impacts on economies around the world.
Some of the impacts of globalization on the US economy, EU economy, and developing countries economy include:
Impact of globalization on the US economyGlobalization has positively impacted the US economy in several ways. Some of these include: Increased productivity, as globalization facilitates innovation and the spread of new technologies, leading to higher levels of productivity
. Increased employment opportunities, as globalization allows firms to expand their operations globally, which creates employment opportunities both domestically and internationally. Increased economic growth, as globalization opens up new markets, leading to higher levels of economic growth. Increased competition, which has led to the development of new industries, increased efficiency, and lower prices for consumers.
On the negative side, globalization has resulted in several challenges for the US economy, including: Job displacement, as some jobs have been outsourced to other countries. Unequal distribution of the benefits of globalization, as some sectors of the economy have benefited more than others.
Impact of globalization on the EU economyGlobalization has also had significant impacts on the EU economy. Some of these include: Increased economic growth, as globalization has led to the development of new markets and increased competition, which has resulted in higher levels of economic growth. Increased employment opportunities, as globalization has led to the development of new industries and expanded operations of firms, creating employment opportunities.
Increased productivity, as globalization facilitates innovation and the spread of new technologies. On the negative side, globalization has resulted in several challenges for the EU economy, including: Increased competition, which has resulted in job losses, especially in industries that are not competitive enough. Increased inequality, as some sectors of the economy have benefited more than others
. Impact of globalization on developing countries' economyGlobalization has had both positive and negative impacts on the economy of developing countries. Some of these impacts include: Increased foreign direct investment, which has helped to finance development projects and create employment opportunities. Increased trade, which has led to the development of new markets and increased economic growth. Increased access to new technologies and knowledge.
On the negative side, globalization has resulted in several challenges for developing countries, including:
Increased competition, which has led to job losses and business closures, especially in sectors that are not competitive enough.
Dependence on developed countries, as globalization has made developing countries reliant on developed countries for technology, knowledge, and capital. Unequal distribution of the benefits of globalization, as some sectors of the economy have benefited more than others
. 2. Political, economic, and legal system differences between the US and China
The political, economic, and legal systems in China and the US are significantly different.
Political system:China is a one-party state, while the US is a democracy with a two-party system. China has a centralized government structure, while the US has a decentralized government structure.
Economic system:China is a socialist market economy, while the US is a capitalist market economy. China has a more centralized economic system, while the US has a more decentralized economic system.
Legal system:China has a civil law legal system, while the US has a common law legal system. China's legal system is more centralized, while the US's legal system is more decentralized.
Benefits and liabilities of each system:
One-party state vs. democracy: The one-party state system in China has the benefit of stability and quick decision-making, while the democratic system in the US has the benefit of being more representative of the people and ensuring accountability. Socialism vs. capitalism: The socialist market economy in China has the benefit of being more centrally controlled, leading to faster economic growth, while the capitalist market economy in the US has the benefit of being more innovative and dynamic. Civil law vs. common law: The civil law legal system in China has the benefit of being more predictable, while the common law legal system in the US has the benefit of being more flexible and adaptable.Learn more about global economy at:
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6 8 00:42:03 Some recent financial statements for Smolira Golf Corp. follow. Current assets Cash Accounts receivable Inventory Total Fixed assets Net plant and equipment Total assets Assets 2017 $ 24,
The total assets for Smolira Golf Corp are $128,000.The Smolira Golf Corp financial statement can be presented in two parts: current and fixed assets.
Assets can be classified as tangible and intangible. Tangible assets are physical items that can be touched, and they include cash, accounts receivable, inventory, and net plant and equipment. Intangible assets are non-physical items, and they include patents, copyrights, and trademarks.
The financial statements of the company have been listed below.Current assets: These are short-term assets that can be easily liquidated to cover current liabilities such as bills and other debts. In the case of the Smolira Golf Corp, the current assets consist of cash, accounts receivable, and inventory.
Cash is the most liquid of the current assets and is used for covering immediate expenses. The cash component of the assets for Smolira Golf Corp is $24,000.Accounts receivable represent the outstanding amounts due to the company from customers who have made purchases on credit.
This amount is $27,000. Inventory is the stock of goods that the company has on hand to sell to customers, and the inventory value for Smolira Golf Corp is $20,000.Fixed assets: These are long-term assets that are used in the company's day-to-day operations.
Fixed assets are also known as property, plant, and equipment. The net plant and equipment value of Smolira Golf Corp is $57,000. The total assets of the company are calculated by adding current assets and fixed assets. Therefore, the total assets for Smolira Golf Corp are $128,000.
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TEE Inc. reported a net income of $12 million and a depreciation expense of $2 million. During the year, the change in inventory on the balance sheet was a decrease of $4 million, change in accrued wages and taxes was a decrease of $1 million and change in accounts payable was an increase of $3 million. At the beginning of the year, the balance of accounts receivable was $5 million and at the end of the year was $ 7 million? What was the net cash flow from operating activities last year? $ 21 million O $17 million $ 22 million $ 19 million
We can see here that the net cash flow from operating activities last year is: D. $ 19 million.
What is net cash flow?Net cash flow refers to the difference between the cash inflows and cash outflows of a business or individual over a specific period. It represents the net change in the amount of cash or cash equivalents during that period.
Net cash flow from operating activities = Net income + Depreciation expense + Decrease in inventory - Increase in accounts receivable - Decrease in accrued wages and taxes + Increase in accounts payable
Net cash flow = $12 million + $2 million + $4 million - $7 million - $1 million + $3 million = $19 million.
Thus, net cash flow from operating activities will be $19 million.
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On January 1, 2020. Blossom Ltd, entered into a purchase commitment contract to buy 10,600 oranges from a local company at a price of $0.60 per orange any time during the next year. The contract provides blossom with the option either to take delivery of the orange at any time over the next year, or the Seattle the contract on a need base is for the difference between the agree upon a price of $0.60 per oranges and the market price berorens for any orange that have not been delivered. As at January 31, 2022. Blosson LTD did not take delivery of any orange and the market price for and orange was $0.59.
Blossom Ltd can also choose to extend the contract and take delivery of the oranges at a later date when the market price is higher.
Blossom Ltd is involved in a purchase commitment contract where it is to buy 10,600 oranges from a local company at a price of $0.60 per orange any time during the next year. The company is given the option to either take delivery of the orange at any time over the next year or settle the contract on a need basis for the difference between the agreed price of $0.60 per orange and the market price at the time of delivery. As of January 31, 2022, Blossom Ltd had not taken delivery of any orange and the market price for an orange was $0.59. In the given scenario, it can be concluded that Blossom Ltd has not taken delivery of the oranges it was supposed to buy. As per the contract, the company could either take delivery or settle the contract on a need basis. However, the market price for an orange is less than the agreed-upon price of $0.60.Therefore, it would not be profitable for Blossom Ltd to take delivery of the oranges as it would be paying a higher price than the market price. Instead, the company can settle the contract on a need basis and pay the difference between the agreed price and the market price. The difference in price per orange is $0.01, and as Blossom Ltd was supposed to buy 10,600 oranges, the total amount payable to the local company would be $106 ($0.01 x 10,600).
Blossom Ltd can also choose to extend the contract and take delivery of the oranges at a later date when the market price is higher. This would ensure that the company gets the best possible deal. Blossom Ltd is in a purchase commitment contract with a local company for buying oranges at $0.60 per orange. As of January 31, 2022, Blossom Ltd had not taken delivery of any oranges, and the market price for oranges was $0.59. It would not be profitable for the company to take delivery of oranges as it would be paying a higher price than the market price. The company can settle the contract on a need basis and pay the difference between the agreed price and the market price. The total amount payable to the local company would be $106. Blossom Ltd can also choose to extend the contract and take delivery of the oranges at a later date when the market price is higher.
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D Ltd holds 90% ownership equity of R Ltd. R Ltd holds 75% of the ownership equity of E Ltd. E holds 80% of the ownership equity of S. During the year the following dividends are paid by the respective companies:
D $ 600,000
R $ 330,000
E $ 240,000
S $ 195,000
D Ltd has received the highest dividend of $920,000 during the year. It holds a significant interest in R Ltd, E Ltd, and S Ltd, which are responsible for paying dividends.
D Ltd holds 90% ownership equity of R Ltd. R Ltd holds 75% of the ownership equity of E Ltd. E holds 80% of the ownership equity of S. The dividends paid by the companies are:D $ 600,000R $ 330,000E $ 240,000S $ 195,000Total Dividend Received by D Ltd is $920,000. So, D Ltd has received a dividend of $920,000 during the year. Dividend means the distribution of profits by a corporation to its shareholders. It is typically paid out in the form of cash payments or stock. A corporation pays a dividend to its shareholders out of its profits. Dividends can be paid in the form of cash, stock, or other property. D Ltd holds 90% ownership equity of R Ltd. R Ltd holds 75% of the ownership equity of E Ltd. E holds 80% of the ownership equity of S. D Ltd owns a 67.5% interest in E Ltd (90% x 75%) and 54% interest in S (90% x 75% x 80%). During the year, four companies have paid dividends to their shareholders.
These companies include D Ltd, R Ltd, E Ltd, and S Ltd. D Ltd has received the most significant dividend of $600,000, followed by R Ltd with a dividend of $330,000, E Ltd with a dividend of $240,000, and S Ltd with a dividend of $195,000.D Ltd holds a significant interest in all the companies mentioned above. Therefore, it receives a significant amount of dividends. D Ltd has received a dividend of $920,000 during the year. As a result, D Ltd can reinvest this dividend or distribute it among its shareholders as a dividend. D Ltd has received the highest dividend of $920,000 during the year. It holds a significant interest in R Ltd, E Ltd, and S Ltd, which are responsible for paying dividends. Therefore, D Ltd receives a significant amount of dividends. It can reinvest this dividend or distribute it among its shareholders as a dividend.
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Fairflax Ltd. manufactures a single product for which the
following data, based on a budgeted capacity of 196,000 units per
month, are as follows:
Stock, output and sales data (in units)
Details
The profit situation using Marginal costing principles is $6,260,000.
What is the profit situation using Marginal costing principles?Calculation of Cost of Goods Sold (COGS):
Direct Materials Cost per unit: $50
Direct Labor Cost per unit: $25
Variable Production Overheads per unit: $43
Total variable cost per unit = Direct Materials Cost per unit + Direct Labor Cost per unit + Variable Production Overheads per unit
Total variable cost per unit = $50 + $25 + $43
Total variable cost per unit = $118
COGS per unit = Total variable cost per unit
COGS per unit = $118
Opening stock = 30,000 units
Production = 210,000 units
Closing stock = 80,000 units
Units sold = Opening stock + Production - Closing stock
Units sold = 30,000 + 210,000 - 80,000
Units sold = 160,000 units
Total variable cost of goods sold (COGS) = COGS per unit * Units sold
Total variable COGS = $118 * 160,000
Total variable COGS = $18,880,000
Total Fixed Production Overheads = $2,940,000
Total Cost of Goods Sold (COGS) = Total variable COGS + Total Fixed Production Overheads
Total COGS = $18,880,000 + $2,940,000
Total COGS = $21,820,000
Total Revenue = Selling price per unit * Units sold
Total Revenue = $180 * 160,000
Total Revenue = $28,800,000
Contribution Margin = Total Revenue - Total COGS
Contribution Margin = $28,800,000 - $21,820,000
Contribution Margin = $6,980,000
Profit = Contribution Margin - Fixed administrative overheads - Fixed selling overheads
Profit = $6,980,000 - $300,000 - $420,000
Profit = $6,260,000.
Full question:
Fairflax Ltd. manufactures a single product for which the following data, based on a budgeted capacity of 196,000 units per month, are as follows:
Stock, output and sales data (in units)
Details January
Sales 160,000
Opening stock 30,000
Closing stock 80,000
Production 210,000
Cost Data Details
Direct materials 50
Direct labour 25
Variable Production Overheads 43
Fixed administrative and selling overheads were estimated at $300,000 and $420,000 respectively. During the periods, the company sold one unit of its product for $180 and Total Fixed Production Overheads were $2,940,000. Required: Show the profit situation using Marginal costing principle..
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A social welfare function is thought to be additive along the lines proposed by Bentham and Mil where U, is individual i's utility and there are n individuals. Suppose an economy is made up of two individuals, John and Jane. John's utility function is t and Jane's utility function is There is a fixed quantity of good X (100 units) evenly divided between John and Jane (50 units for each) Social welfare (W) is equal to: W-utis (Enter your response rounded to the nearest whole number) Social welfare could be improved if a portion of good X were transferred from to Y W=U₁+U₂+ +Un Ujohn-96√/X Ujan=2X
The social welfare could be improved if a portion of good X were transferred from John to Jane. The new social welfare function would be W = t + 2X.
Social welfare function is additive along the lines proposed by Bentham and Mill where U is an individual i's utility and there are n individuals. Suppose an economy is made up of two individuals, John and Jane. John's utility function is t and Jane's utility function is given by: U = 2X.There is a fixed quantity of good X, 100 units, that are evenly divided between John and Jane (50 units each).To find the social welfare of the given economy, we need to add the utility functions of John and Jane and find their sum. Thus, the social welfare W can be given by:
W = U₁ + U₂
where U₁ is John's utility function and U₂ is Jane's utility function.
W = t + 2XNow, we know that U₁ = t and U₂ = 2X.Therefore, substituting the values, we get:
W = U₁ + U₂= t + 2X
Thus, the social welfare function is W = t + 2X.The social welfare could be improved if a portion of good X were transferred from John to Jane. John's utility function is t and Jane's utility function is U = 2X. Thus, Jane would benefit more from the transfer of good X as her utility function is dependent on X. Thus, a portion of good X should be transferred from John to Jane to increase the social welfare of the economy. The new utility functions of John and Jane after the transfer of some units of X can be given as follows:
Ujohn = t - 96√(X)
Ujane = 2X + 96√(X)
Thus, the new social welfare function can be given as:W = Ujohn + Ujane= t - 96√(X) + 2X + 96√(X)= t + 2X
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Compare Friedman’s flatters with the economic, technological, sociocultural, demographic, political and legal forces.
It is friendman’s flatters.
Friedman's flatters refer to the concept that advancements in technology and globalization have flattened the world, making it more interconnected and reducing barriers to communication and commerce.
In economic terms, Friedman's flatters have led to increased global trade, outsourcing, and competition. Technological forces such as the internet and digital platforms have facilitated this interconnectedness and accelerated innovation. Sociocultural forces have seen the spread of global trends, ideas, and cultural exchange. Demographic changes, such as urbanization and migration, have further contributed to a more interconnected world. Political forces have played a role in shaping global governance and cooperation. Legal forces have had to adapt to the challenges and opportunities presented by globalization and technology, such as intellectual property rights and international trade agreements.
Overall, Friedman's flatters describe the multifaceted forces that have transformed the world into a more interconnected and interdependent global society.
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On November 1, Alan Company signed a 120-day, 9% note payable, with a face value of $25,200. What is the adjusting entry for the accrued interest at December 31 on the note? (Use 360 days a year.)
Multiple Choice
Debit interest payable, $252; credit interest expense, $252.
Debit Interest Payable, $756; credit Interest Expense, $756.
Debit Interest Expense, $378; credit Interest Payable, $378.
No adjusting entry is required.
Debit Interest Expense, $504; credit Interest Payable, $504
The correct answer is Debit Interest Payable, $378; credit Interest Expense, $378.The adjusting entry for the accrued interest on December 31 on the note is:
Debit Interest Payable, $378;
Credit Interest Expense, $378.
This entry is made because interest has accrued on the note payable from November 1 to December 31, but has not yet been paid. The amount of interest accrued is calculated by multiplying the interest rate by the face value of the note and the number of days that the interest has accrued. In this case, the interest rate is 9%, the face value of the note is $25,200, and the number of days that the interest has accrued is 60 days (120 days / 2). The amount of interest accrued is therefore $378 (9% * $25,200 * 60/360).
The adjusting entry for accrued interest is made to ensure that the financial statements reflect the true financial position of the company. The interest that has accrued on the note payable is a liability of the company, and it must be recorded on the balance sheet. The interest expense that is incurred on the note payable is an expense of the company, and it must be recorded on the income statement.
The adjusting entry for accrued interest is made at the end of each accounting period. The amount of interest that is accrued is determined by multiplying the interest rate by the face value of the note and the number of days that the interest has accrued. The adjusting entry is then made to record the accrued interest as a liability on the balance sheet and as an expense on the income statement.
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The Attorney General who tries cases related to the United States is considered part of a(n)
cabinet department.
Super PAC.
political party.
interest group.
The Attorney General who tries cases related to the United States is considered part of a cabinet department. So the right option is cabinet department.
The United States Attorney General is the government's top attorney and serves as the head of the Department of Justice. The Attorney General advises the President and Cabinet members on legal issues, prosecutes cases and supervises the work of United States Attorneys and federal agencies.
The Attorney General who tries cases related to the United States is considered part of a cabinet department. Therefore, the answer is that the Attorney General who tries cases related to the United States is considered part of a cabinet department.
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Imagine a seller (auctioneer) wanting to sell an item. There are two potential buyers, bidder 1 and bidder 2. Let v₁ and v₂ denote the valuations of the bidders. If bidder i wins the painting and has to pay x for it, then bidder i's payoff is vi-x. The bidders observe their own valuations before the auction. However, they do not observe each other's valuation, but know that the other valuation can be between 0 to 90. Consider now a second-price sealed bid auction. In this auction, players simultaneously and independently submit their bids b₁ and b₂. The painting is awarded to the highest bidder at a price equal to the second-highest bid. Show that the (weakly) dominant strategy for the players is to bid their own valuation (i.e. b;=v₁), and this is the profile which will constitute the Bayesian Nash equilibrium of this game. (22 marks)
In an auction where there are two potential buyers, bidder 1 and bidder 2, and a seller (auctioneer) wanting to sell an item, the two bidders observe their own valuations before the auction.
However, they do not observe each other's valuation but know that the other valuation can be between 0 to 90. The painting is awarded to the highest bidder at a price equal to the second-highest bid in a second-price sealed bid auction. If bidder I win the painting and has to pay x for it, then the bidder i's payoff is vi-x.
For the Bayesian Nash equilibrium, it is required that each bidder chooses a strategy to maximize their expected payoff given the strategy of the other bidder. Hence, in the given auction, the expected payoff of each bidder depends on the bid they place, as the highest bid secures the painting and the second-highest bid determines the price at which the painting is secured.
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January 2 Sold 8 shovels on account at a selling price of $12 per unit.
January 16 Sold 13 shovels on account at a selling price of $12 per unit.
January 18 Bought 5 shovels on account at a cost of $4 per unit.
January 19 Sold 13 shovels on account at a selling price of $12 per unit.
January 24 Bought 13 shovels on account at a cost of $4 per unit.
January 31 Counted inventory and determined that 16 units were on hand.
Compare the journal entries that would be recorded using a perpetual inventory system, including what might be needed. (If no entry is required for a transaction/event, select "No Journal Ent)
Under a perpetual inventory system, each transaction involving the sale or purchase of inventory is recorded in the journal. Here are the journal entries that would be recorded for the transactions mentioned:
January 2:
Accounts Receivable 96
Sales Revenue 96
(Credit sales of 8 shovels at $12 per unit)
January 16:
Accounts Receivable 156
Sales Revenue 156
(Credit sales of 13 shovels at $12 per unit)
January 18:
Inventory 20
Accounts Payable 20
(Purchase of 5 shovels at $4 per unit on account)
January 19:
Accounts Receivable 156
Sales Revenue 156
(Credit sales of 13 shovels at $12 per unit)
January 24:
Inventory 52
Accounts Payable 52
(Purchase of 13 shovels at $4 per unit on account)
January 31:
Inventory 64
Cost of Goods Sold 576
(Cost of 48 shovels sold: 8+13+13 units at $4 per unit)
(Cost of Goods Sold is calculated as 48 units * $4 per unit)
No Journal Entry is required for the count of inventory on January 31 since it is only for informational purposes and does not involve any transactions.
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What factors are key in achieving entrepreneurial success? The world is changing, are there new talents and skills, a new environment (following Covid for example) and new thinkers (you!) not evident in the readings or videos that I have suggested you read and watch below as well that may now play a role for up and coming entrepreneurs? So iss entrepreneurship changing, if so, how?
Key factors in achieving entrepreneurial success include a combination of personal characteristics, skills, knowledge, and external factors. While the traditional factors remain important, the changing world, including the impact of COVID-19, has introduced new dynamics and considerations for up-and-coming entrepreneurs.
Personal characteristics: Entrepreneurial success often depends on personal traits such as passion, determination, resilience, creativity, and a willingness to take calculated risks. These characteristics drive an entrepreneur's motivation, adaptability, and ability to overcome challenges.Skills and knowledge: Essential skills for entrepreneurs include problem-solving, critical thinking, communication, leadership, financial management, marketing, and networking. Acquiring industry-specific knowledge and staying updated on market trends and technologies is crucial for identifying opportunities and making informed decisions.External factors: External factors that can influence entrepreneurial success include access to funding, a supportive ecosystem, mentorship opportunities, market demand, and regulatory environment. These factors can affect an entrepreneur's ability to start and grow a business, navigate challenges, and leverage resources.In the context of the changing world, including the impact of COVID-19, several additional factors and considerations have emerged:
Adaptability and resilience: Entrepreneurs need to be adaptable and resilient in the face of uncertainties and rapidly changing circumstances. The ability to pivot business models, embrace digital technologies, and navigate disruptions has become increasingly important.Digital literacy and online presence: The shift towards digitalization has accelerated due to the pandemic. Entrepreneurs must possess digital literacy skills to leverage online platforms for marketing, sales, customer engagement, and remote collaboration. Building a strong online presence has become crucial for reaching and engaging with customers.Remote work and virtual teams: The pandemic has normalized remote work and virtual collaboration. Entrepreneurs now need to manage virtual teams, utilize remote communication tools, and foster a collaborative and productive work environment in a digital space.Social and environmental consciousness: There is a growing emphasis on social and environmental responsibility in entrepreneurship. Entrepreneurs who integrate sustainability practices, address social issues, and prioritize ethical considerations are more likely to resonate with customers and attract support.While the traditional factors of personal characteristics, skills, and external factors remain key in achieving entrepreneurial success, the changing world, including the impact of COVID-19, has introduced new dynamics. Adaptability, digital literacy, remote work capabilities, social and environmental consciousness, and the ability to navigate uncertainties have become increasingly important for up-and-coming entrepreneurs. Staying updated, embracing technological advancements, and leveraging opportunities arising from the changing landscape are crucial for entrepreneurial success in the evolving business environment.
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The following chart represents the cost of producing varying amounts of hamburgers in an hour.
Hamburgers (Q) 10 15 20 25 30
Workers (L) 1.25 2.4 3.3 5 6.7
Wage Rate per hour $7.50 $7.50 $7.50 $7.50 $7.50
Calculate the cost of producing 20 hamburgers. Round your answer to the nearest hundredths place.
The cost of producing 20 hamburgers is $24.75.
Total cost is a sum of variable cost and fixed cost. In this question, only variable cost (labour)is given. Therefore, the total cost is derived by calculating the total cost of labour.
The total cost of labor can be found by multiplying the number of workers by the wage rate per hour for each corresponding level of production.
From the given chart, we can observe the following:
Hamburgers (Q): 10 15 20 25 30
Workers (L): 1.25 2.4 3.3 5 6.7
Wage Rate per hour: $7.50 $7.50 $7.50 $7.50 $7.50
To find the cost of producing 20 hamburgers, we will use the data point for 20 hamburgers, which is 3.3 workers.
Therefore, Cost of producing 20 hamburgers = Number of workers × Wage rate per hour
= 3.3 × $7.50
= $24.75
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You sell 6,000 put options at $2 each and 6,000 call options at $3 each. The exercise price of one put option is $80 and the exercise of one call option is $90. What do you call this strategy?
This strategy is called a strangle.
A strangle strategy is a neutral strategy in options trading that involves simultaneously buying a out-of-the-money (OTM) call and an OTM put of the same underlying asset and expiration date. The strategy is called a strangle because the investor is squeezing both options out of the same asset price. The strategy is often used in volatile market conditions where it's uncertain whether the asset price will rise or fall significantly. A strangle strategy has limited risk and unlimited profit potential. The investor only risks the cost of buying the call and put options. A strangle strategy may be considered if the investor believes the asset will experience a significant price movement in either direction.
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Carla Company purchased on January 1, 2020, as a held-to-maturity investment, $124,000 of the 6%, 6-year bonds of Harrison, Inc. for $112,363, which provides a 8% return. The bonds pay interest semiannually. Prepare Carla's journal entries for (a) the purchase of the investment, and (b) the receipt of semiannual interest and discount amortization. Assume effective-interest amortization is used.
Harrison, Inc. bonds with a $124,000 face value were purchased by Carla Company for $112,363, which is the investment's fair value.
Given,
Investment face value =$124,000
Investment purchase price =$112,363
Return =6%
Time =6 years
Required to pass the journal entries for:
(a) the purchase of the investment, and (b) the receipt of semiannual interest and discount amortization.
a.)
Date: January 1, 2020
Debit: Investment $112,363
Credit: Cash $112,363
b.
Date: 30 June 2020
Debit: Cash $3,720
Debit: Discount on Investment $970
Credit: Interest Revenue $4,690
The Calculations of Discount and interest are shown in the file attached below.
Carla Company receives interest from the bonds on the semi-annual interest payment date and amortizes the discount via the effective-interest technique.
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Answer the following question in a couple of sentences. Bond investors often worry about interest rate risk and reinvestment rate risk. What are these risks? Explain how interest rate risk and reinves
Bond investors often worry about interest rate risk and reinvestment rate risk, these risks are losing money. Interest rate risk and reinvestment rate risk are the two main types of risks that bond investors often worry about.
Interest rate risk is the risk of losing money due to changes in interest rates, while reinvestment rate risk is the risk of earning a lower rate of return on reinvested funds. Interest rate risk affects bond prices directly, causing them to move in the opposite direction to interest rates. When interest rates rise, bond prices fall and vice versa. Investors who sell their bonds before maturity may experience a loss due to the interest rate risk.
Reinvestment rate risk, on the other hand, affects the future returns of an investor's reinvested funds. If an investor reinvests their funds at a lower rate of return, they may not earn as much as they could have if the rate had been higher. Therefore, it is important for bond investors to understand both interest rate risk and reinvestment rate risk before investing their funds. They should consider their investment goals and risk tolerance when investing in bonds to minimize the potential impact of these risks.
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Discuss the economic characteristics of firms that have the following mix of profit margin and asset turnover. In addition, provide an example of an industry that would have the relevant profit margin asset turnover mix:
a. High profit margin and low asset turnover.
b. Low profit margin and high asset turnover.
a. High profit margin and low asset turnover: Firms with a high profit margin and low asset turnover tend to operate in industries where the emphasis is on producing high-value products or providing specialized services. These firms generate significant profits per unit of sales but have a lower volume of sales relative to their invested assets. This combination suggests that they rely more on their ability to charge premium prices or offer unique products/services rather than on the efficiency of asset utilization.
An example of an industry with this profit margin and asset turnover mix is the luxury goods sector. Companies that produce high-end fashion, luxury cars, or high-priced jewelry often exhibit high profit margins due to the exclusivity and brand reputation associated with their products. These firms cater to a niche market and can command premium prices, resulting in high profitability. However, their asset turnover tends to be low as they typically have lower sales volumes compared to more mass-market industries.
b. Low profit margin and high asset turnover: Firms with a low profit margin and high asset turnover are commonly found in industries characterized by intense competition and high sales volumes. These companies operate on thin profit margins but rely on high asset turnover to generate revenue. They focus on operational efficiency, cost control, and achieving economies of scale to drive profitability.
An example of an industry with this profit margin and asset turnover mix is the retail sector, particularly discount or big-box retailers. Companies such as Walmart or Costco operate on razor-thin profit margins due to their commitment to offering low prices to attract customers. However, they compensate for the low margin by achieving high asset turnover through large sales volumes and efficient supply chain management. These companies optimize their operations to drive sales and generate revenue from high customer traffic and frequent inventory turnover.
In summary, the economic characteristics of firms with a high profit margin and low asset turnover indicate a focus on value creation and uniqueness in niche markets, while firms with a low profit margin and high asset turnover emphasize operational efficiency and high sales volumes in competitive industries. The specific examples provided highlight the industries where these characteristics are commonly observed.
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Within an organization, who is the best strategist that is responsible for providing ethics leadership? Give five reasons to support your answers.
Within an organization, the CEO is the best strategist that is responsible for providing ethics leadership. The following are five reasons to support this answer:
1. Sets the Tone at the Top: The CEO is the person who sets the tone for ethical leadership, and this sets the tone for the entire organization. The CEO must lead by example in order to establish and maintain an ethical culture.
2. Creates the Organizational Culture: The CEO is responsible for creating the organizational culture, which must be ethical, inclusive, and supportive of employees. An ethical culture is critical in attracting and retaining top talent.
3. Implements Ethical Practices: The CEO must establish ethical practices that guide decision-making and behavior throughout the organization. This includes the establishment of codes of conduct, policies, and procedures that address ethical concerns.
4. Acts as a Role Model: The CEO is a role model for the rest of the organization. The CEO must model ethical behavior in order to reinforce the importance of ethical leadership and practices throughout the organization.
5. Ensures Compliance: The CEO is responsible for ensuring that the organization is in compliance with all applicable laws, regulations, and standards.
This includes ethical standards that govern the behavior of employees and the organization as a whole. The CEO must take a proactive approach to compliance and establish an ethical framework that promotes compliance.
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true or false: larry will receive dividends after preferred stockholders
The statement "Larry will receive dividends after preferred stockholders" is false, Larry will receive dividends only after the preferred stockholders receive theirs dividend.
Preferred stockholders are given preference over common stockholders like Larry when it comes to dividend distribution. Prior to common stockholders receiving any dividends, preferred stockholders are entitled to a fixed dividend rate or a predetermined dividend amount.
Larry and the other common stockholders don't get dividends until all the preferred stockholders have received theirs. Therefore it is true to say that Larry won't get dividends until the preferred stockholders have received them.
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The complete question is "Larry holds 1,000 shares of GE common stock. as a stockholder, he has the right to be involved in the election of its directors, who are responsible for managing the company and achieving the company's objectives. True or false: larry can vote in person at the company's annual meeting, through the mail, or by transferring the right to vote to another person by means of transfer of ownership of shares."
Explain the primary determinants of consumption and investment in an economy AND analyse and evaluate with the use of relevant diagrams, the effectiveness of fiscal policy in improving the macroeconomic performance of a country.
The primary determinants of consumption in an economy are disposable income, wealth, and expectations.
Disposable income refers to the amount of money individuals have available for spending after taxes. As disposable income increases, consumption tends to rise. Wealth, including assets such as savings, investments, and property, also influences consumption levels. When individuals feel wealthier, they are more likely to increase their spending. Expectations about future income, employment, and economic conditions also play a role, as they impact consumer confidence and willingness to spend.
Finally, expected profitability, which depends on factors like market demand, production costs, and technology, guides business investment choices. When businesses anticipate higher profits, they are more inclined to invest in expanding their operations.
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