The term used when part of or all payments for goods and services are in the form of other goods or services is called bartering.
Bartering is the act of exchanging goods or services for other goods or services without the use of cash or a monetary exchange system. It is a method of trade that has been in use for centuries. Bartering helps people meet their needs without the need for a common medium of exchange, like money. Apart from the lack of a common medium of exchange, the bartering system is very similar to modern trade in that there must be a desire to trade in the first place and an agreement on the terms of the trade. Bartering may occur on a small scale between two people or on a larger scale between multiple businesses. In summary, bartering is a form of trading where goods and services are exchanged for other goods and services. It eliminates the need for cash or monetary exchange systems.
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According to "Bigger Than Enron" what caused the accounting scandals in the 1990's?
A) Board of directors supervises management closely.
B) Accounting firms are independent.
c) Management has strong incentives to meet Wall Street analysts' expected earnings.
According to the documentary "Bigger Than Enron," the accounting scandals in the 1990s were primarily caused by management's strong incentives to meet Wall Street analysts' expected earnings.
This answer aligns with option C. During that time, there was a prevailing focus on meeting or exceeding market expectations and analysts' forecasts. Companies were under immense pressure to deliver consistent and impressive financial results to maintain their stock prices and attract investors. This pressure led management to engage in unethical accounting practices to manipulate financial statements and artificially inflate earnings.
The documentary highlights how companies like Enron and WorldCom employed various fraudulent techniques such as aggressive revenue recognition, off-balance-sheet transactions, and accounting loopholes to create an illusion of financial success. These practices allowed them to deceive investors, lenders, and regulators, leading to massive financial losses and the eventual collapse of these companies.
The documentary also raises concerns about the role of board of directors and accounting firms in preventing and detecting these accounting scandals. It suggests that the board of directors failed to provide adequate oversight, and accounting firms, which were supposed to be independent auditors, were compromised due to conflicts of interest and lucrative consulting contracts with the companies they audited.
In summary, the accounting scandals of the 1990s were primarily driven by management's strong incentives to meet Wall Street analysts' expected earnings, which resulted in fraudulent accounting practices and widespread financial misconduct.
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ph omuederiaye 05/30/22 4:23 AM HW Score: 46.09%, 9.68 of 21 E Homework: Quiz 2 Question 14, 19.1-32 points O Points: 0 of 1 Save On a graph showing real national income on the vertical axis and time on the horizontal axis, the fluctuations of real national income around the trend-line would indicate the OA. distribution of income. B. inflation rate. C. unemployment rate. OD. business cycle OE. path of potential output.
On a graph showing real national income on the vertical axis and time on the horizontal axis, the fluctuations of real national income around the trend-line would indicate the business cycle.
The business cycle refers to the periodic fluctuations in economic activity characterized by alternating phases of expansion and contraction. These fluctuations are reflected in real national income, which represents the total output of goods and services produced in an economy.
The graph would show peaks and troughs as real national income rises and falls over time. The upward movement indicates economic expansion, while the downward movement signifies economic contraction. The trend-line represents the long-term average growth rate of the economy.
By observing the fluctuations around the trend-line, economists can analyze the phases of the business cycle, such as booms and recessions, and understand the overall health and performance of the economy. This information is crucial for policymakers and businesses in making informed decisions and formulating appropriate strategies.
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3 Xiaomi recently announced that the company is planning to launch a new smart mask called ""X- mask"" in Malaysia. Explain any FIVE (5) internal or external factors that could influence Xiaomi's pricing strategy. Support your answer with relevant examples.
When determining the pricing strategy for the new smart mask "X-mask," Xiaomi will consider several internal and external factors that can influence their pricing decisions.
Here are five factors that could influence Xiaomi's pricing strategy, along with relevant examples:
Cost of Production: Xiaomi will consider the cost of manufacturing the smart mask, including raw materials, labor, research and development, and other production expenses. For instance, if the production costs are high due to advanced features or premium materials used in the X-mask, Xiaomi may set a higher price to cover these expenses and maintain profitability.
Competitive Landscape: Xiaomi will analyze the pricing strategies of competitors offering similar smart masks or alternative products in the market. They will consider the perceived value of their product compared to competitors and whether they want to position the X-mask as a premium, mid-range, or budget option. For example, if Xiaomi's competitors are offering similar smart masks at higher prices, they may opt for a competitive pricing strategy to attract customers.
Market Demand and Consumer Perception: Xiaomi will assess the demand for smart masks in the Malaysian market and consumer preferences regarding pricing. They will consider factors such as the target market's willingness to pay, price sensitivity, and the perceived value of the X-mask's features and benefits. If there is a high demand for technologically advanced and feature-rich smart masks, Xiaomi may justify a higher price point.
Brand Positioning and Reputation: Xiaomi's brand image and reputation can influence their pricing strategy. If Xiaomi is positioned as a premium brand known for quality and innovation, they may set a higher price for the X-mask to maintain the brand's perceived value. Conversely, if Xiaomi wants to penetrate the market quickly and gain market share, they may opt for an aggressive pricing strategy.
Distribution Channel and Retail Partners: The choice of distribution channels and partnerships with retail outlets can impact pricing decisions. If Xiaomi decides to sell the X-mask exclusively through their official stores or website, they may have more control over pricing and offer direct-to-consumer discounts. However, if they choose to distribute through third-party retailers, they will need to consider factors like margins, markups, and promotions set by the retailers.
These factors provide a glimpse into the complex considerations that Xiaomi will evaluate when determining the pricing strategy for the X-mask. It is crucial for Xiaomi to strike a balance between profitability, market competitiveness, consumer demand, and their brand positioning to maximize the success of their smart mask in the Malaysian market.
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Calculate the yield to maturity. Face value Bond (E) A 1000 35.5% 27.5% 38.5% 45.5% 37.5% Annual coupon rate Maturity (%) (year) 10 1 Market price (E) 800 A
To calculate the yield to maturity (YTM) for the given bond, which has a face value of $1000, an annual coupon rate of 35.5%, and a maturity of 10 years, we need additional information such as the market price. The market price given is $800.
The yield to maturity (YTM) is a measure of the return an investor can expect to earn by holding a bond until it matures. To calculate the YTM, we need the bond's face value, coupon rate, maturity, and market price.
In the given information, we have the face value of the bond, which is $1000, and the annual coupon rate, which is 35.5%. However, the information does not provide the specific coupon payments for each year. Without this information, we cannot calculate the YTM accurately.
Additionally, the maturity of the bond is given as 10 years, which means the bond will mature after 10 years from its issuance. The market price provided is $800, which represents the current price at which the bond is traded in the market.
To calculate the YTM, we need to know the specific coupon payments and their timing over the 10-year period. Without this information, it is not possible to determine the exact yield to maturity.
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Part A
Sometimes a manufacturer wants to promote a particular item or
encourage additional business from a buyer. Also, buyers may
be entitled to additional discounts as a result of buying large
quantities. In such cases, the manufacturer may offer additional
discounts that are deducted one after another from the list price.
Such discounts are called a trade discount series, chain discounts
or successive discounts.
Question:
Why do manufactures use a trade discount series? Why not
just translate the series into a single discount equivalent?
Explain in brief!
Part B
Use the straight-line method to find the yearly depreciation for a
molding machine that has an expected useful life of five years.
The molding machine costs OMR 27,300, its shipping costs
totaled OMR 250, its installation charges came to OMR 450, and
its salvage value is OMR 1,000.
Question:
Prepare the depreciation schedule for the molding machine.
Manufacturers use a trade discount series instead of a single discount equivalent for several reasons.
Part A: Manufacturers use a trade discount series instead of a single discount equivalent because it offers several advantages. Firstly, a trade discount series allows manufacturers to tailor their discounts to different buyers and situations. They can offer customized discounts based on the buyer's purchasing volume, loyalty, or specific promotional goals. This flexibility enables manufacturers to incentivize buyers to increase their order sizes or choose specific products, thereby boosting sales and market share.
Secondly, using a trade discount series provides manufacturers with pricing flexibility. The series can be adjusted based on market conditions, competition, or buyer preferences. Manufacturers can set different discount levels at each stage of the series to respond to changes in demand, adjust pricing strategies, or introduce new promotional campaigns. This adaptability helps manufacturers stay competitive and responsive in a dynamic marketplace.
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Consider an Acceptance Sampling plan in which (20+5) items are
randomly inspected in a lot of 200. The lot is accepted if the
defectives found in the sample do not exceed two. The AQL and LTPD
are 2%
Acceptance Sampling plan is considered. The plan has (20+5) items that are randomly inspected in a lot of 200. The lot is accepted if the defectives found in the sample do not exceed two. The probability of accepting the lot is 90.06 percent.
AQL and LTPD are 2%.AQL (Acceptable Quality Limit) is a parameter that refers to the maximum defect percentage considered tolerable. The Acceptable Quality Limit is the maximum percentage of defects that are allowed in a product in order to be considered acceptable for shipment to a customer. The LTPD (Lot Tolerance Percent Defective) is the maximum percentage of defective items that are permitted in the product. The table below shows the values of a Single Sampling Plan, which is based on AQL and LTPD. The lot size is 200, and the sample size is 25 (20+5). Therefore, the values are as follows: Acceptable quality level (AQL) = 2%Lot tolerance percent defective (LTPD) = 2%Lot size = 200Sample size = 25.
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Which of the following $1000 face-value securities has the lowest yield to maturity? a. A 15 percent coupon bond selling for $900 Ob. A 15 percent coupon bond selling for $800 O c. A 15 percent coupon
To determine the lowest yield to maturity among the given securities, we need to compare their prices relative to their face values and coupon rates.
Yield to maturity (YTM) represents the total return an investor would receive if they hold the bond until maturity. It is influenced by the bond's price, coupon rate, and time to maturity.
In this case, we have three $1000 face-value securities with a 15 percent coupon rate. Let's analyze each option:
a. A 15 percent coupon bond selling for $900:
This bond is selling below its face value, indicating a discount. The price is lower than the face value, which increases the yield to maturity.
b. A 15 percent coupon bond selling for $800:
Similar to the previous bond, this bond is also selling below its face value. With a lower price, the yield to maturity will be higher.
c. A 15 percent coupon bond selling for $1000:
This bond is selling at its face value, indicating no premium or discount. The price matches the face value, resulting in a yield to maturity equal to the coupon rate of 15 percent.
Comparing the options, the bond with the lowest yield to maturity is option c, which is a 15 percent coupon bond selling for $1000. Since its price matches the face value, the yield to maturity is equal to the coupon rate.
Therefore, the correct answer is option c.
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a trade deficit for the united states is generally financed by:___
A trade deficit occurs when the value of imports of goods and services exceeds the value of exports of goods and services of a country.
For the United States, a trade deficit is typically financed by foreign investments. This includes the acquisition of US government debt and private company investments. By purchasing US debt, foreign investors are essentially lending money to the US government, which can then be used to fund various domestic programs. Private company investments also play a crucial role in financing the trade deficit. Companies in foreign countries may invest in US-based companies or set up their own operations in the US. This not only provides a source of capital for these companies, but also helps to create jobs in the US. Overall, the financing of the US trade deficit is a complex issue that involves a variety of factors, including foreign investments, government debt, and private company investments.
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For venture capital investors with a medium-term time horizon, how attractive is the Colorado marijuana industry as an investment destination? Explain your answer in detail. At the beginning of 2021, 35 US states and the District of Columbia had legalized the sale of marijuana for medical use and in 15 states the sale of marijuana for recreational use had been legalized. Although the production, possession, and sale of marijuana was still illegal under federal law, the investment opportunities made available by legalization had created a surge of venture capitalist interest in this emerging industry. The case describes major features of the industry including the consumption, cultivation, and distribution sides of the industry and its regulatory structure. Although each state has a different regulatory structure resulting in different competitive conditions, the case dows especially upon the situation in Colorado, Washington, and California-the first two because of the well-developed state of their legal marijuana industries, and California because of its size 10 pts D Question 1 For venture capital investors with a medium-term time horizon, how attractive is the Colorado marijuana industry as an investment destination Explain your answer in detail
The attractiveness of the Colorado marijuana industry as an investment destination for venture capital investors with a medium-term time horizon has to be evaluated based on several factors such as the industry growth rate, the level of competition, and the legal environment.
The Colorado marijuana industry is one of the most attractive marijuana industries in the US. In 2014, Colorado became the first state to legalize recreational marijuana sales. According to the Marijuana Business Factbook, Colorado has one of the largest legal marijuana markets in the world. In 2020, Colorado's marijuana industry generated approximately $2 billion in sales. The growth rate of Colorado's marijuana industry is impressive and investors with a medium-term time horizon can benefit from it. The growth rate is driven by several factors, including increasing consumer acceptance, a growing number of legal dispensaries, and the expanding number of legal marijuana products. Competition is another factor that affects the attractiveness of the Colorado marijuana industry as an investment destination. Colorado has a well-established legal marijuana industry, which means that there are already several players in the market.
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What is the minimum lease payment that would make purchasing a precision manufacturing machine and writing a 4-year lease contract on it? The price of the machine is $175,000, it is a three-year asset for depreciation purposes, it has a residual value of $7,000, it requires $500 maintenance per year, the cost of capital is 10%, and the corporate tax rate is 40%.
The minimum annual lease payment that would make purchasing a precision manufacturing machine and writing a 4-year lease contract on it is approximately $47,141.
To determine the minimum lease payment for a precision manufacturing machine, we need to calculate the present value of all cash flows associated with the lease and set it equal to the cost of the machine. Here are the steps to do this:
Calculate the annual depreciation expense using the straight-line method: (Cost - Residual Value) / Useful life = ($175,000 - $7,000) / 3 years = $56,000 per year.
Calculate the after-tax depreciation expense by multiplying the annual depreciation expense by (1 - tax rate): $56,000 x (1 - 0.4) = $33,600 per year.
Calculate the annual maintenance expense: $500 per year.
Calculate the total cash outflows each year: lease payment = after-tax depreciation expense + maintenance expense = $33,600 + $500 = $34,100 per year.
Calculate the present value of the cash outflows using the cost of capital of 10% and a three-year lease term. We can use the present value of an annuity formula to do this: PV = lease payment x [1 - 1 / (1 + r)^n] / r, where r is the cost of capital and n is the number of periods. Plugging in the numbers, we get PV = $34,100 x [1 - 1 / (1 + 0.1)^3] / 0.1 = $87,399.
Add the residual value of $7,000 to the present value of the cash outflows to get the total present value of the lease: $87,399 + $7,000 = $94,399.
Set the total present value of the lease equal to the cost of the machine: $94,399 = $175,000.
Solve for the lease payment: lease payment = $94,399 / [1 - 1 / (1 + 0.1)^3] = $47,141 per year.
Therefore, the minimum annual lease payment that would make purchasing a precision manufacturing machine and writing a 4-year lease contract on it is approximately $47,141.
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Q2. Explain the steps of the development process of a new product. Analyze and give examples of the step "Commercialization". (3 points)
Commercialization of a product is a significant step in the development process as it defines the success of a product. It is a process of introducing a product to the target audience. It includes promotion, sales, and distribution strategies. The following are some examples of the step Commercialization:Launch a social media campaign to generate awareness about the product. Conduct public relations events to attract interest in the product. Arrange in-store product demos to encourage customers to try out the product.Create packaging that reflects the quality of the product.
Product development is the process of creating new products, services, and processes to satisfy consumer needs. A development process of a new product consists of six steps. They are as follows:1. Idea generation - A new product idea should be created through consumer feedback, market research, and internal R&D.2. Concept Development and testing - The idea is tested by converting it into a concept, which is evaluated by consumers to check its feasibility.3. Business Analysis - At this stage, the product is evaluated for its potential contribution to the company’s profitability, competition, and demand.4. Product Development - After analyzing the business, the actual product development takes place. In this stage, the product design, development, and production takes place.5. Test marketing - It involves launching the product in a small market or a test market to determine its acceptance rate.6. Commercialization - If the product passes the test marketing stage, it is introduced to the full market. The marketing strategy is implemented, and the product is made available to the consumers. The process of Commercialization is the final stage of the product development process. It refers to the process of introducing a new product into the market for sale to consumers.
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Which of the following equation is correct? a. P = A(P/A, i, n)
b. P = A(A/P, i, n)
c. F = P(F/A, i, n) d. F = P(P/F, i, n)
Answer:
The correct equation is:
c. F = P(F/A, i, n)
Explanation:
This equation represents the future value (F) of a present value (P) compounded at an interest rate (i) for a certain number of periods (n), given an annuity factor (F/A).
The standard equation for calculating the future worth (F) when given the annual rate of return (1) and the present rate (P) is F=P(1+i)^n. The correct option is D.
The standard equation for calculating the future worth (F) when given the annual rate of return (i) and the present value (P) is: F = P(1+i)^n,
where "i" represents the annual rate of return expressed as a decimal, "P" represents the present value or initial investment, and "n" represents the number of periods (usually years) for which the investment is made.
This equation takes into account the effect of compounding, which is the process of earning interest on both the initial investment (P) and the accumulated interest (i) over time (n).
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ucc rules on acceptance of goods and payment in regard to installment contracts mandate that
Under the UCC rules on acceptance of goods and payment in regard to installment contracts, there are specific mandates that govern the rights and obligations of both the buyer and seller.
The UCC (Uniform Commercial Code) rules on acceptance of goods and payment in regard to installment contracts establish guidelines and requirements for both buyers and sellers. Regarding acceptance of goods, the UCC mandates that the buyer has the right to inspect the goods upon delivery and has a reasonable amount of time to accept or reject them. If the buyer fails to notify the seller of any defects or rejection within this timeframe, it is considered an acceptance.
In terms of payment, the UCC provides guidelines for installment contracts. It specifies that payment is typically made in installments, with each installment being due at agreed-upon intervals. The UCC also outlines the rights and remedies available to both the buyer and seller in case of default or non-payment.
Overall, the UCC rules on acceptance of goods and payment in regard to installment contracts aim to establish clear guidelines and protect the rights of both parties involved in the transaction. These rules provide a framework for fair and transparent dealings, ensuring that both buyers and sellers are aware of their responsibilities and obligations throughout the installment contract process.
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Coronado Industries reported the following year-end information: beginning work in process inventory, $82000; cost of goods manufactured, $760000; beginning finished goods inventory, $52000; ending wo
Coronado Industries is a manufacturing firm that produced goods for sale. The company's ending work-in-process inventory was $80,000, and its ending finished goods inventory was $66,000. Coronado's cost of goods sold for the year was $716,000.
Coronado Industries is a manufacturing company that creates goods for sale. The company's ending work-in-process inventory is $80,000, and its ending finished goods inventory is $66,000. In the period in question, the company produced goods worth $760,000.The cost of goods sold (COGS) formula calculates the cost of products that a company sold in a particular period. The cost of goods sold is subtracted from revenue on the income statement to determine gross profit. The cost of goods sold is calculated as follows: Beginning finished goods inventory + Cost of goods manufactured - Ending finished goods inventory = Cost of goods sold therefore, the cost of goods sold (COGS) for Coronado Industries is $716,000.
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Calculate the number of kanbans needed at the ABC Company for the following two products, produced in a factory that works eight hours per day, five days per week: Product 1 Product 2 300/week 150/day Usage Lead time Container size 1 week 2 weeks 20 units 30 units Safety stock 15 percent 0
Number of units needed per day = 150Lead time in days = 2 Safety stock = 0Container size = 30Number of kanbans = ((150 x 2) + (0 x 150)) / 30= (300 + 0) / 30= 10 kanbans Thus, the number of kanbans needed for Product 2 is 10.
ABC Company is producing two types of products, Product 1 and Product 2. The usage of Product 1 is 300/week and the usage of Product 2 is 150/day. The lead time for Product 1 is 1 week, while it is 2 weeks for Product 2. The container size for Product 1 is 20 units and for Product 2 is 30 units. The safety stock for Product 1 is 15%, whereas, it is 0 for Product 2. The factory works for 8 hours per day and 5 days per week. Kanban is a system used in the just-in-time (JIT) manufacturing process. In the kanban system, the production is based on the actual demand of the customer. The aim of using kanban is to avoid overproduction. It helps in the smooth flow of production. Kanban is a Japanese word that means “signal card”. It is a signal that triggers production. It is a system that uses cards to signal the production of parts from suppliers to the production line. The number of kanbans needed for the production of a product can be calculated by using the following formula:Number of kanbans = ((Demand per day x Lead time in days) + Safety stock) / Container sizeLet’s calculate the number of kanbans needed for Product 1.Number of units needed per day = 300/5 = 60Lead time in days = 1Safety stock = 15%Container size = 20Number of kanbans = ((60 x 1) + (0.15 x 60)) / 20= (60 + 9) / 20= 69 / 20= 3.45 ≈ 4 kanbansThus, the number of kanbans needed for Product 1 is 4.Let’s calculate the number of kanbans needed for Product 2.Number of units needed per day = 150Lead time in days = 2Safety stock = 0Container size = 30Number of kanbans = ((150 x 2) + (0 x 150)) / 30= (300 + 0) / 30= 10 kanbansThus, the number of kanbans needed for Product 2 is 10.
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Statement _____is true because: Financial analysts, rating agencies, investors, and creditors tend to base their expectations of firm condition and performance on industry averages and standards, unless the deviation can be explained and convincingly justified by the firm's managers. Bondholders don't have to worry about incurring financial distress costs through the actions and decisions of management.
Statement "Financial analysts, rating agencies, investors, and creditors tend to base their expectations of firm condition and performance on industry averages and standards, unless the deviation can be explained and convincingly justified by the firm's managers" is true because such professionals depend on this when evaluating a firm.
This practice is done by financial analysts, rating agencies, investors and creditors in order to compare and measure the performance of a firm. They base their expectations and decisions on industry averages and standards, unless the deviation can be explained and convincingly justified by the firm's managers.Bondholders, on the other hand, don't have to worry about incurring financial distress costs through the actions and decisions of management. However, when the firm's performance is not up to the expectations, the bondholders are the first ones to suffer the consequences. Therefore, it is important for the firm's management to explain any deviations or abnormalities in the firm's performance in order to convince financial analysts, rating agencies, investors and creditors. This will help in the decision-making process for investment.
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Question 2 O Mark this questio Mark starts a new job in another state and decides to buy a house rather than renting one. Which of the following is true if Mark buys the house? O He will have to pay city and state taxes on the house. He will have to pay a large security deposit on the house. O He will have limited ability to make improvements to the house. O He will have to pay a fixed monthly cost to his landlord.
If Mark buys the house, he will have to pay city and state taxes on the house.
Explanation: When someone purchases a house, they become responsible for paying property taxes to the city and state in which the house is located. Property taxes are levied based on the assessed value of the property and are used to fund local government services and infrastructure. These taxes are typically paid annually or semi-annually by the homeowner. Therefore, if Mark decides to buy a house instead of renting one, he will be obligated to pay property taxes as a homeowner. This is a common financial responsibility associated with homeownership and helps support local communities and public services.
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On March 1, Bramble Inc. sells 1,100 common shares to its employees at $23 per share and lends the money to the employees to buy the new shares in exchange for a note receivable. The employees pay 45% of the price on the transaction date and pay the balance in one year.
(a)
Prepare the company’s necessary journal entry on March 1. (Credit account titles are automatically indented when the amount is entered. Do not indent manually.)
Date
Account Titles and Explanation
Debit
Credit
Mar. 1
select an account title for the journal entry on March 1
enter a debit amount
enter a credit amount
select an account title for the journal entry on March 1
enter a debit amount
enter a credit amount
select an account title for the journal entry on March 1
enter a debit amount
enter a credit amount
On March 1, Bramble Inc. records the sale of 1,100 common shares to its employees at $23 per share and lends them the money to purchase the shares. The employees pay 45% of the price on the transaction date, and the balance will be paid in one year. The necessary journal entry on March 1 is as follows: Cash (1,100 shares * $23 * 45%) 11,385 Notes Receivable 11,385 Common Stock 25,300 Additional Paid-in Capital (1,100 shares * $23 * 55%) 13,915
The journal entry records the transaction involving the sale of common shares to employees and the creation of a note receivable. The debit to Cash represents the partial payment received from employees, which is calculated as 1,100 shares multiplied by $23 per share, multiplied by 45%. The credit to Notes Receivable represents the amount owed by the employees for the remaining balance. The debit to Common Stock represents the par value of the shares issued, calculated as 1,100 shares multiplied by $23 per share. The credit to Additional Paid-in Capital represents the excess of the purchase price over the par value of the shares, calculated as 1,100 shares multiplied by $23 per share, multiplied by 55% (the remaining balance to be paid by the employees).
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Mercantilism is a) an early form of socialism characterized by the dominance of merchant class. b) an early form of capitalism characterized by extreme protectionism c) an early form of capitalism characterized by pure gold and silver standard and monopolies. d) an early stages of Mao's revolution where peasants were considered the spearheads of the revolution e) both band care correct
Option c) an early form of capitalism characterized by pure gold and silver standard and monopolies.
Mercantilism is an early form of capitalism characterized by a pure gold and silver standard and monopolies. It is an economic policy focused on maximizing exports and minimizing imports to increase a country's gold and silver reserves. The goal of mercantilism was to ensure that a country's wealth was determined by its gold and silver reserves, which were believed to be a nation's true wealth. Mercantilism required a nation to maintain a favorable balance of trade by exporting more goods than it imported. Therefore, a nation would achieve a favorable balance of trade by imposing tariffs and quotas on imports while providing subsidies and tax breaks to exporters. This policy was designed to protect local industries and to ensure that the nation's wealth remained within its borders.
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Problem 14-18 The Distance Plus partnership has the following capital balances at the beginning of the current year:
Tiger (40% of profits and losses) $ 60,000
Phil (30%) 30,000
Ernie (30%) 45,000
Each of the following questions should be viewed independently.
a. If Sergio invests $60,000 in cash in the business for a 20 percent interest, what journal entry is recorded? Record the admission of new partner under bonus method.
b. If Sergio invests $30,000 in cash in the business for a 20 percent interest, what journal entry is recorded? Record the admission of new partner under bonus method.
c. If Sergio invests $40,000 in cash in c. the business for a 20 percent interest, what journal entry is recorded? Record the entry for goodwill allocation, during the admission of a new partner.
a. When Sergio invests $60,000 in cash in the business for a 20 percent interest, the journal entry recorded under the bonus method would be:
Cash $60,000
Sergio, Capital $12,000 (20% of $60,000)
Tiger, Capital $4,800 (40% of $12,000)
Phil, Capital $3,600 (30% of $12,000)
Ernie, Capital $4,800 (30% of $12,000)
Goodwill $35,800 [(40% + 30% + 30%) of $60,000 - $60,000]
In this scenario, the bonus method is used to allocate the excess of the total value of the business over the capital balances of the existing partners. Sergio's investment of $60,000 is allocated based on his 20% interest, resulting in a capital contribution of $12,000. The existing partners, Tiger, Phil, and Ernie, also adjust their capital accounts based on their profit and loss sharing ratios.
Since the total capital contribution exceeds the total value of the business, goodwill is recognized as the difference between the total investment and the adjusted capital balances of the partners. The goodwill is allocated based on the profit and loss sharing ratios of the existing partners.
b. When Sergio invests $30,000 in cash in the business for a 20 percent interest, the journal entry recorded under the bonus method would be:
Cash $30,000
Sergio, Capital $6,000 (20% of $30,000)
Tiger, Capital $2,400 (40% of $6,000)
Phil, Capital $1,800 (30% of $6,000)
Ernie, Capital $1,800 (30% of $6,000)
Goodwill $16,200 [(40% + 30% + 30%) of $30,000 - $30,000]
Similar to the previous scenario, Sergio's investment of $30,000 is allocated based on his 20% interest, resulting in a capital contribution of $6,000. The existing partners' capital accounts are adjusted accordingly based on their profit and loss sharing ratios.
Again, since the total capital contribution exceeds the total value of the business, goodwill is recognized and allocated among the existing partners based on their profit and loss sharing ratios.
c. When Sergio invests $40,000 in cash in the business for a 20 percent interest, the journal entry recorded for goodwill allocation during the admission of a new partner would be:
Goodwill $40,000
Sergio, Capital $8,000 (20% of $40,000)
Tiger, Capital $3,200 (40% of $8,000)
Phil, Capital $2,400 (30% of $8,000)
Ernie, Capital $2,400 (30% of $8,000)
In this case, Sergio's capital contribution of $40,000 is recognized directly as goodwill. The existing partners' capital accounts are adjusted based on their profit and loss sharing ratios.
Under this scenario, no excess capital is allocated as goodwill because Sergio's investment is equal to the value of his capital interest. Therefore, there is no need to use the bonus method for allocating goodwill.
Note: The calculations and journal entries provided above are based on the information given and the assumption that no other adjustments or transactions have occurred.
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Discussion on Chrysto's "Those Tears" and Mapping the Margins!
"Mapping the Margins" is a paper written by Kimberle Crenshaw in 1991 which is concerned with the intersectionality of racism, sexism, and other forms of oppression.
In contrast, Chrystos's poem "Those Tears" tells of the emotional struggles of a lesbian Native American woman.The poem and the paper complement one another in that they both address the issues of social and cultural exclusion, as well as the difficulties of being a woman of color. Although "Those Tears" speaks about one individual's feelings, it is representative of a much larger community that has faced systemic discrimination and oppression throughout history.
"Mapping the Margins" seeks to highlight the multiple forms of discrimination that these communities are confronted with.Crenshaw's "Mapping the Margins" is critical to understanding the intersections of race and gender-based oppression. Kimberle Crenshaw, an American civil rights advocate, professor, and writer, has developed the concept of intersectionality as a way to examine the interconnected nature of different kinds of oppression. The intersection of racism and sexism is one of the focal points of the paper.
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Bonds with a face value of $520000 and a quoted price of 97.25 have a selling price of a $505700. O $507000 O $504530 O $504413
The selling price of the bonds would be **$504,530**.
To calculate the selling price of the bonds, we need to multiply the face value by the quoted price as a percentage. In this case, the face value is $520,000, and the quoted price is 97.25 (expressed as a percentage).
Selling price = Face value * Quoted price
Selling price = $520,000 * 97.25% = $504,530
Therefore, the selling price of the bonds is $504,530. Option **O $504,530** is the correct choice.
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Question Completion Status: QUESTION 2 Which of the following statements is incorrect? O A. Cash expenses are the total cash outflows within a given month B. The cash receipts and cash expenses are an
The incorrect statement is:
A. Cash expenses are the total cash outflows within a given month.
The correct statement is:
B. The cash receipts and cash expenses are an integral part of the cash flow statement.
Cash expenses refer to the cash outflows or payments made by a company during a specific period, which can include expenses such as salaries, rent, utilities, and other operating expenses. These expenses are recorded on the income statement and are an integral part of calculating the net income.
The cash flow statement, on the other hand, provides information about the cash inflows and outflows of a company during a specific period. It includes cash receipts from sales, loans, investments, as well as cash payments for expenses, investments, and financing activities. The cash flow statement helps analyze the company's ability to generate cash and manage its liquidity.
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Todrick Company is a merchandiser that reported the following information based on 1,000 units sold: S
ales $ 465,000 Beginning merchandise inventory $ 31,000
Purchases $ 310,000 Ending merchandise inventory $ 15,500 Fixed selling expense ? Fixed administrative expense $ 18,600 Variable selling expense $ 23,250 Variable administrative expense ?
Contribution margin $ 93,000
Net operating income $ 27,900 Required: 1. Prepare a contribution format income statement. 2. Prepare a traditional format income statement. 3. Calculate the selling price per unit. 4. Calculate the variable cost per unit. 5. Calculate the contribution margin per unit. 6. Which income statement format (traditional format or contribution format) would be more useful to managers in estimating how net operating income will change in response to changes in unit sales?
The answers to all questions are:-
Selling Price per Unit = $465,000 / 1,000 units= $465
Variable Cost per Unit = ($31,000 + $310,000 - $15,500) / 1,000 units =325.5
Contribution Margin per Unit = 139.5
The contribution format income statement would be more useful to managers in estimating how net operating income will change in response to changes in unit sales.
The answers to all questions are:-
1.Contribution Format Income Statement:
Sales Revenue: $465,000
Variable Expenses:
Variable Selling Expense: $23,250
Variable Administrative Expense: ?
Total Variable Expenses: ?
Contribution Margin: ?
Fixed Expenses:
Fixed Selling Expense: ?
Fixed Administrative Expense: $18,600
Total Fixed Expenses: ?
Net Operating Income: $27,900
2.Traditional Format Income Statement:
Sales Revenue: $465,000
Cost of Goods Sold:
Beginning Merchandise Inventory: $31,000
Purchases: $310,000
Ending Merchandise Inventory: $15,500
Total Cost of Goods Sold: ?
Gross Profit: ?
Operating Expenses:
Fixed Selling Expense: ?
Fixed Administrative Expense: $18,600
Total Operating Expenses: ?
Net Operating Income: $27,900
3.Selling Price per Unit:
Selling Price per Unit = Sales Revenue / Number of Units Sold
Selling Price per Unit = $465,000 / 1,000 units
4.Variable Cost per Unit:
Variable Cost per Unit = (Beginning Inventory + Purchases - Ending Inventory) / Number of Units Sold
Variable Cost per Unit = ($31,000 + $310,000 - $15,500) / 1,000 units
5.Contribution Margin per Unit:
Contribution Margin per Unit = Selling Price per Unit - Variable Cost per Unit
6.The contribution format income statement would be more useful to managers in estimating how net operating income will change in response to changes in unit sales. This is because the contribution format separates costs into fixed and variable components, allowing managers to easily identify how changes in unit sales affect the contribution margin and ultimately the net operating income. It provides a clearer picture of the relationship between sales volume and profitability.
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A Chinese official is considering construction of a gondola lift system that transports visitors from the tops of the mountain peaks to the valley at one of the National Forrest Parks in China. The lift system is expected to last for 20 years. Annual maintenance cost of $260,000 and inspection and repair cost of $45,000 every 5 years are expected. Annual benefits are estimated to be $420,000. In an interest of 18% per year and a B/C ration of at least 2.5 are used, what is the maximum investment cost allowed for the lift system?
The maximum investment cost allowed for the gondola lift system can be calculated based on the given information, such as the annual maintenance and inspection costs, annual benefits, interest rate, and the required benefit-to-cost ratio.
To calculate the maximum investment cost allowed, we need to determine the present value of the costs and benefits associated with the gondola lift system over its 20-year lifespan. The present value (PV) is calculated using the formula PV = CF / [tex](1 + r)^n[/tex], where CF is the cash flow, r is the interest rate, and n is the number of years. First, let's calculate the present value of the annual maintenance costs. The annual maintenance cost is $260,000, and it will occur every year for 20 years. Using the formula, the present value of the maintenance costs is:
PV of maintenance costs = $260,000 / [tex](1 + 0.18)^1[/tex] + $260,000 / (1 + 0.18)² + ... + $260,000 / [tex](1 + 0.18)^{20}[/tex]
Next, let's calculate the present value of the inspection and repair costs. The inspection and repair cost is $45,000 and occurs every 5 years for 20 years. The present value of the inspection and repair costs can be calculated similarly to the maintenance costs. Finally, let's calculate the present value of the annual benefits. The annual benefits are estimated to be $420,000 and will occur every year for 20 years. The present value of the benefits is calculated using the same formula as the costs. After calculating the present values of costs and benefits, we can use the benefit-to-cost ratio (B/C ratio) requirement to determine the maximum investment cost allowed. The B/C ratio is calculated by dividing the present value of benefits by the present value of costs. To meet the requirement of a B/C ratio of at least 2.5, the maximum investment cost allowed can be calculated by dividing the present value of benefits by 2.5. In summary, the maximum investment cost allowed for the gondola lift system can be determined by calculating the present value of costs and benefits over the 20-year period and ensuring that the benefit-to-cost ratio is at least 2.5.
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37. At a lump-sum cost of $69,000, Pratt Company recently purchased the following items for resale: Item No. of Items Purchased Resale Price Per Unit $3.75 M 4,000 12.00 N 2,000 6.00 O 6,000 The appro
The appropriate cost per unit of inventory is: M: $3.38, N: $10.80, O: $5.52
To determine the appropriate cost per unit of inventory, we need to calculate the weighted average cost based on the lump-sum cost and the quantity of each item purchased.
Total cost of items purchased = $69,000
Total quantity of items purchased:
M: 4,000
N: 2,000
O: 6,000
Percentage of total cost for each item:
M: (4,000 x $3.75) / $69,000 ≈ 0.2174
N: (2,000 x $12.00) / $69,000 ≈ 0.3478
O: (6,000 x $6.00) / $69,000 ≈ 0.4348
Weighted average cost per unit:
M: $69,000 x 0.2174 / 4,000 ≈ $3.38
N: $69,000 x 0.3478 / 2,000 ≈ $10.80
O: $69,000 x 0.4348 / 6,000 ≈ $5.52
Therefore, the appropriate cost per unit of inventory is:
M: $3.38
N: $10.80
O: $5.52
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The complete question is: At a lump-sum cost of $69,000, Pratt Company recently purchased the following items for resale
Item No. of Items Purchased Resale Price Per Unit
M 4,000 $3.75
N 2,000 $12.00
O 6,000 $6.00
The appropriate cost per unit of inventory is:
M N O
$3.75 $12.00 $6.00
$3.38 $10.80 $5.40
$3.45 $11.04 $5.52
$5.75 $5.75 $5.75
please show solution and how you come up with percentages
the acme company manufactures widgets. the distribution of widget weights is bell-shaped. the widget weights have a mean of 57 ounces and a standard deviation of 7 ounces.
The mean of 57 ounces and the standard deviation of 7 ounces of the Acme Company can be utilized to maintain the quality of widgets.
The bell-shaped distribution of widget weights with the mean of 57 ounces and the standard deviation of 7 ounces indicates that the majority of the widgets fall in the range of 50 to 64 ounces. As this range is one standard deviation below and above the mean, respectively. Furthermore, two standard deviations below and above the mean range from 43 to 50 ounces and 64 to 71 ounces, respectively. Additionally, the area between the mean and one standard deviation accounts for nearly 68% of the total area of the curve. The Acme Company's widget weights can be used to make predictions using the bell curve's concept. The bell curve is a visual representation of a distribution of data that is symmetrical about the mean. Using this graph, it is possible to determine the probability of obtaining a given result from a data set.
Furthermore, the Acme Company can utilize the information from the bell-shaped distribution to maintain the quality of widgets. Acme Company's bell-shaped distribution of widget weights with the mean of 57 ounces and the standard deviation of 7 ounces, which can be used to make predictions using the bell curve's concept and maintaining the quality of widgets.
The bell-shaped distribution of widget weights with the mean of 57 ounces and the standard deviation of 7 ounces of the Acme Company can be utilized to maintain the quality of widgets. Furthermore, the bell curve's concept can be used to make predictions using the graph.
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Preferred stock Preferred stock is often called a hybrid security because it has some characteristics that are typical of debt and others that are typical of common equity. The following table lists several characteristics of preferred stock. Determine which of these characteristics are consistent with debt securities and which are consistent with common stock. May have a sinking fund provision Usually has no specified maturity date Usually has no voting rights
Characteristics consistent with debt securities:May have a sinking fund provision: A sinking fund provision requires the issuer of the preferred stock to set aside funds periodically to retire the stock.
This characteristic is more commonly associated with debt securities, where issuers may establish sinking funds to repay the principal amount over time.Characteristics consistent with common stock:Usually has no specified maturity date: Preferred stock typically does not have a specified maturity date, which aligns with common stock. Unlike debt securities, which have a fixed maturity date when the principal is repaid, preferred stock does not have an obligation for repayment of principal.Usually has no voting rights: Preferred stock generally does not carry voting rights, or if it does, the voting rights are limited compared to common stock. Common stock is known for its voting rights, where shareholders have the ability to vote on corporate matters such as the election of board members and major business decisions. The limited or absence of voting rights in preferred stock is more in line with common stock characteristics.
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What was the total amount of cash received during the year by Alpha? O The correct answer is not listed. O $144,000 O $136,000 O $170,000 O $153,000
In order to calculate the total amount of cash received during the year by Alpha, we need to add up the cash inflows from various sources. The statement of cash flows is the financial statement that provides information about the cash inflows and outflows of a company during a particular period of time.
Here is the statement of cash flows for Alpha Company: Alpha Company Statement of Cash Flows For the year ended December 31, 20X8Cash flows from operating activities: Net income$100,000Adjustments to reconcile net income to net cash provided by operating activities: Depreciation expense20,000Increase in accounts receivable10,000Decrease in accounts payable(4,000)Net cash provided by operating activities$126,000Cash flows from investing activities.
Purchases of property, plant, and equipment(35,000)Net cash used in investing activities(35,000)Cash flows from financing activities: Issuance of common stock20,000Payment of cash dividends(7,000)Net cash provided by financing activities13,000Net increase in cash61,000Cash, January 1, 20X8$75,000Cash, December 31, 20X8$136,000The total amount of cash received during the year by Alpha was $136,000. Answer: $136,000
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TRUE/FALSE. On December 30, 2021, Whitney sold a piece of property for $365,600. Her basis in the property was $164,520, and she incurred $3,656 in selling expenses. The buyer paid $18,280 down with the balance payable in $34,732 installments over the next ten years. In addition, the buyer assumed a $54,840 mortgage on the property. Under the installment sales method, what is the total contract price, the total gain on the sale, and the amount of gain reported in 2021? Round any division to two decimal places, and use that amount in subsequent computations. If required, round your final answer to the nearest dollar. Under the installment sales method, the total contract price is $ the total gain on the sale is $ and the amount of gain reported in 2021 is $
True, The total contract price is $420,440 , The total gain on the sale is $252,264 , The amount of gain reported in 2021 is approximately $10,972.
1. To calculate the total contract price, we need to add the down payment, the installment payments, and the assumed mortgage.
Down payment: $18,280
Installment payments: $34,732 x 10 = $347,320
Assumed mortgage: $54,840
Total contract price = Down payment + Installment payments + Assumed mortgage
Total contract price = $18,280 + $347,320 + $54,840 = $420,440
2. To calculate the total gain on the sale, we need to subtract the basis and selling expenses from the total contract price.
Total gain on the sale = Total contract price - Basis - Selling expenses
Total gain on the sale = $420,440 - $164,520 - $3,656 = $252,264
3. To determine the amount of gain reported in 2021, we need to calculate the gross profit percentage. The gross profit percentage is the ratio of the gain to the total contract price.
Gross profit percentage = (Total gain on the sale / Total contract price) * 100
Gross profit percentage = ($252,264 / $420,440) * 100 ≈ 60.03%
Now, we can calculate the amount of gain reported in 2021 by applying the gross profit percentage to the down payment.
Amount of gain reported in 2021 = Gross profit percentage * Down payment
Amount of gain reported in 2021 = 60.03% * $18,280 ≈ $10,972
Therefore, under the installment sales method:
The total contract price is $420,440
The total gain on the sale is $252,264
The amount of gain reported in 2021 is approximately $10,972.
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