Answer:
The partnership between IT and the business at Hefty Hardware was ineffective as there were clear communication gaps. The business group thinks that the IT has no knowledge of the business whereas the IT team thinks that the business has no understanding of the technical issues in IT system.
Therefore, correspondence is needed by sitting and working together to achieve the common organizational goals.
Explanation:
1. Shortcomings of both IT and the business.
The business often feels that the IT don’t have the required competence for finding solution for business problems, since IT is not involved in the executive business meetings. Similarly the business managers do not understand the technical jargon when the IT tries to explain the technical aspects of the solution. Hefty Hardware do not has solid foundation and good relationship between the IT and the Business department, and this issue became the main problem that Hefty should deal with it to make sure that the current and future projects will success.
2. Plan for how IT and the business can work collaboratively to deliver the Savvy Store program successfully
To work in the same coordinated flow, IT and the business need to work collaboratively by attending the executive meetings together since the beginning where the ideas are brainstormed.
Weekly or fortnightly meetings should be held to discuss the progress and follow up on the previously decided agendas. All must be documented for review and future reference.
Days sales outstanding. Baxley Brothers has a DSO of 23 days, and its annual sales are $3,650,000. What is its accounts receivable balance? Assume that it uses a 365 day year.
Answer:
$230,000
Explanation:
Given that,
Days sales outstanding, DSO = 23 days
Annual sales = $3,650,000
Assume that it uses a 365 day year
Accounts receivable = (Annual sales × Days sales outstanding) ÷ 365 days
= ($3,650,000 × 23) ÷ 365 days
= $83,950,000 ÷ 365 days
= $230,000
Therefore, the Baxley Brothers has $230,000 balance in its accounts receivable.
Final answer:
Given a DSO of 23 days and annual sales of $3,650,000, the accounts receivable balance for Baxley Brothers can be calculated to be $230,000.
Explanation:
To calculate the accounts receivable balance for Baxley Brothers given a Days Sales Outstanding (DSO) of 23 days and annual sales of $3,650,000, we use the formula for DSO:
DSO = (Accounts Receivable / Total Credit Sales) × Number of Days
We can rearrange this formula to solve for Accounts Receivable:
Accounts Receivable = (DSO × Total Credit Sales) / Number of Days
Assuming a 365-day year, the calculation will be:
Accounts Receivable = (23 days × $3,650,000) / 365 days
Accounts Receivable = $230,000
Therefore, the accounts receivable balance for Baxley Brothers is $230,000.
How do employees and managers know what decision-making authority they have regarding firm assets?
Answer:
The correct answer is: Corporate Policies.
Explanation:
Corporate Policies are the set of rules and guidelines companies provide to their employees so they can have an understanding of what type of behavior is expected from them within the organization and who they should talk to according to the situations that arise. The hierarchy of the firm is established the corporate policy for employees to know who their managers are.
The theory based on the idea that the best managerial actions in a given situation depend on the elements of that situation is known as:
A. the equifinality theory.
B. Theory X and Y.
C. the contingency approach.
D. the systems theory.
E. quantitative management.
Answer:
C. the contingency approach
Explanation:
The contingency approach -
According to this concept , there is not proper and precise set of rules and regulations for the management principles of the organisation , is referred to as the contingency approach.
It is also called , situational approach.
As, the condition or the situation only plays a significant role , because the management changes according to the situation of the scenario.
Hence , from the information of the question,
The correct option is C. the contingency approach .
Columbia Products produced and sold 1,200 units of the company’s only product in March. You have collected the following information from the accounting records:
Sales price (per unit) $125
Manufacturing costs:
Fixed overhead (for the month) 18,200
Direct labor (per unit) 10
Direct materials (per unit) 34
Variable overhead (per unit) 26
Marketing and administrative costs:
Fixed costs (for the month) 19,500
Variable costs (per unit) 5
Compute the following:
(1) Variable manufacturing cost per unit.
(2) Full cost per unit.
Answer:
1. $70
2. $106.42
Explanation:
(1) Variable manufacturing cost per unit:
= Direct labor + Direct material + Variable overhead
= $10 + $34 + $26
= $70
(2) Full cost per unit:
= Direct labor + Direct material + Variable overhead + Variable selling cost + (Fixed ÷ 1,200)
= $10 + $34 + $26 + $5 + [(19,500 + 18,200) ÷ 1,200)]
= $75 + $31.42
= $106.42
Sumiko files her tax return married filing separately. She has not lived with her husband for over two years. Beginning in January 2019, by court ordered decree, she is to pay her husband $600 per month as separate maintenance. For 2019 how much will she be able to deduct as alimony?
a. $3,600.b. $7,200.c. $0.d. $600.
Answer:
b. 7,200
Explanation:
600 x 12 =7200
When your manager, Novak, talks about a , he means a set of interrelated parts that function as a whole to achieve a common purpose. ?
Answer:
A System
Explanation:
Novak is referring to a system. A system is a complex union of several interrelated parts that have different specific functions, but share a common goal, and a more or less common mechanism.
Society is a system, a computer as well. Firms are systems, they have different parts: employees, stockholders and management that have specific functions but work together toward a common goal: generating revenue.
Suppose that two of your friends are about to launch a business together with nothing but a handshake. "we'vebeen best friends since grammar school they say. What advice would you give them.
Explanation:
First, it is necessary and ideal to formalize the relationship between two partners, regardless of the degree of friendship between them. For this, the most relevant advice would be to have a proper contract, so that business is legalized and so that each partner has security and support provided in the contract to resolve any situation.
A contract is a super important document for any business, it must have all the rules of conduct in business, as well as the rights and duties of each partner.
It is through the contract that the essential rules that will govern the relationship between each of the parties will be defined, therefore it is necessary that the contract is developed in accordance with everything that governs a company, the activities, responsibilities, ethical and legal conduct and others, so that the company's activities flow as expected.
Final answer:
Starting a business with a friend is an exciting venture, but it's crucial to have a formal agreement, clearly defined roles, a conflict resolution plan, understanding of financial commitments, and maintain open communication. These steps protect both the relationship and the business, ensuring a professional approach to the venture.
Explanation:
Starting a business with a friend is an exciting venture, but it's crucial to lay a strong foundation beyond just a handshake, even for long-standing friendships. Here's some advice for starting a business with a friend:
Formalize the Agreement: Even though trust and friendship form the basis of your partnership, it's imperative to have a written agreement. This document should cover roles, responsibilities, equity split, and what happens if a partner wants to exit the business. Clear documentation helps prevent misunderstandings.
Define Roles and Responsibilities: Clearly define who is responsible for what in the business. This clarity can help avoid stepping on each other's toes and will ensure the smooth operation of your business.
Plan for Conflict Resolution: Disagreements are part of any business. Plan in advance how you'll handle conflicts, possibly including a mediator to help resolve disputes objectively.
Understand the Financial Commitments: Make sure both parties are clear about the financial contributions and implications of running the business. Discuss and agree on how profits and losses will be shared.
Keep Communication Open and Honest: Regular communication is key, not only about the business but also about how the partnership is affecting your personal relationship. Ensure you schedule regular check-ins.
Remember, taking these steps does not mean you doubt the friendship or partnership. Instead, it's about protecting both the relationship and the business venture. A written agreement and clear communication are signs of a professional and thoughtful approach to business, crucial for success.
Financial accounting provides a historical perspective, whereas management accounting emphasizes: Multiple Choice a current perspective. the future. past transactions.
Answer:
The correct answer is letter "A": current perspective.
Explanation:
Management Accounting is internally-based accounting that helps managers measure the results of their current and future decisions. This is in contrast to financial accounting which emphasizes more general, higher-level financial results of the company. One common managerial accounting tool is determining the profit margin of each of the company's products.
Which of the following is NOT one of Peter Drucker’s contributions to management theory?a. The analysis of how organizations select managers, how managers act, and how organizations are structured in different units. b. The understanding of the role large organizations play in modern society. c. The focus on the role of human interactions, flows of information, and the decision-making process within organizations. d. The analysis of how social organizations become corporations.
Answer:
The incorrect statement is letter "D": The analysis of how social organizations become corporations.
Explanation:
Peter F. Drucker (1909-2005) was an Austrian business professor and statistic who developed concepts on Decentralization as the principle of effectiveness and productivity, the emphasis on high-quality personnel management, and the education, training, and development of the manager for future needs.
An analysis in how social organizations become corporations is not attributed to Drucker.
Final answer:
Option d, the analysis of how social organizations become corporations, is NOT one of Peter Drucker’s contributions to management theory; his focus was on managerial practices and the role of large organizations.
Explanation:
The question pertains to Peter Drucker’s contributions to management theory. Among the options provided, the choice that is NOT one of Drucker’s contributions is d. The analysis of how social organizations become corporations. Drucker’s work primarily focused on the practices within management such as how managers act in an organisation.
It also looks into the structure of organizations, and the role of large organizations in society. He did not specifically analyze the process of social organizations turning into corporations, which is more in the domain of organizational development and corporate strategy.
Explain how each of the five pillars of sustainable change could be applied to sustain the learning organization environment of the company in the scenario.
Answer:
Following are the five pillars of sustainable change could be applied to sustain the learning organization environment of the company:
1) Leadership
2) Strategy
3) Culture
4) Structure
5) System
Explanation:
1) Leadership
Leadership provides the way forward for sustainable change i.e. they show the right direction to their employees . They will develop strategies to keep the momentum going within the learning environment that has now been created. Leadership will coach and mentor individuals, teams, and departments to keep the new systems in alignment and working well together.
2) Strategy
By strategizing means to get positioned itself as a market leader or more customer centric . In order to maintain the competitive edge, development of new learning organizational structure to make good use of all employee knowledge for changes in the market and especially for efficiencies and continuous improvements in operations.
3) Culture
Culture will include the attitude of open communication, a willingness to always be open minded, an encouragement for create thinking and sharing new ideas or conflict, and to support the value of lessons learned from mistakes. It will set the tone for the importance of working together toward a common goal, and will be dedicated to recognizing accomplishments to inspire innovation.
4) Structure
Deciding about the best organizational structure, say the flat one. This will allow employees to communicate freely, share knowledge in real time and work and problem solve cross-functionally. Since the company promotes culture that encourages creative thinking, the employees are confident their talents are being used at the highest capacity to support the company’s drive for continuous improvement.
5) System
As part of the change management project, reliance on new technologies and system is increasing, and using of expert and decision making system, stronger controls can be in placed which would be asset to the learning organization.
To sustain the learning organization environment, the company should focus on leadership commitment, strategic alignment, employee engagement, communication, and measurement and evaluation.
Explanation:The five pillars of sustainable change are leadership commitment, strategic alignment, employee engagement, communication, and measurement and evaluation. To sustain the learning organization environment of the company in the scenario, each pillar can be applied as follows:
Leadership commitment: The company's leaders should actively support and champion the learning organization environment by setting a clear vision, promoting continuous learning, and providing resources for employee development.Strategic alignment: The company's learning initiatives should be aligned with its overall strategy and goals. This can involve integrating learning objectives into performance evaluations, aligning learning programs with business needs, and fostering collaboration and knowledge sharing across departments.Employee engagement: The company should create a culture that values and encourages learning. This can be done by involving employees in decision-making processes, providing opportunities for skill development and career growth, and recognizing and rewarding individuals who actively contribute to the learning organization environment.Communication: Open and transparent communication is crucial for sustainably fostering a learning organization environment. The company should promote regular communication channels, such as team meetings or digital platforms, to share knowledge and best practices, encourage feedback and dialogue, and ensure everyone is informed about learning opportunities.Measurement and evaluation: The company should establish metrics to monitor the effectiveness of its learning initiatives and track progress towards creating a sustainable learning organization environment. This can involve evaluating employee satisfaction and engagement, measuring the impact of learning programs on business performance, and continuously seeking feedback to improve and refine learning strategies.Learn more about Sustainable Change in the Learning Organization here:
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West Company paid cash for dividend. With respect to this event, indicate whether the following statement is______________.
a. true
b. false.
Answer:
True
Explanation:
A public limited company can pay cash dividends to its shareholders for their contribution to the company. Therefore, the statement "West Company paid cash for dividend" is correct.
No other form of organization cannot pay dividends. They can pay a share of profit or extra benefits. Only in the corporation, especially in public limited, shareholders are given a cash dividend by its management body.
Suppose the cost of pumping oil increases. How will this affect the demand for oil and gasoline (which comes from oil)? a. Demand will increase. b. Demand will decrease. c. Demand will not necessarily change.
Answer:
Option (c) is correct.
Explanation:
If there is an increase in the cost of pumping oil, this means that the cost of production of oil increases. Hence, this will cause the supply curve of oil which shifts leftwards and leave the demand curve unchanged. This will only cause a movement along the demand curve not a shift which means that there is a fall in the quantity demanded.
Therefore, the demand for oil and gasoline will not necessarily change.
The increased financial return on staffing investment is an example of a process goalA. TrueB. False
Answer: True.
Explanation:
Process goals are conscious steps taken to achieve a desirable outcome for an organization. The process goal is also focused on the process used to get to the goal and not just the desired outcome alone. Therefore if an increased investment in staffing yields an increased financial return, it is an example of process goal.
Nina McRidder became an embarrassment to her company when she joked about the ruling monarchy in England in front of a group of visiting English businesspeople. She should have known that political ridicule by a foreigner is rarely accepted. Ms. McRidder has violated what is known as a cultural
A) intelligence.
B) standard.
C) exclusive.
D) elective.
E) imperative.
Answer:
Option E
Explanation:
Cultural imperatives refer to the customs to which you must adhere if you wish to succeed. Relationship management is one instance of a social imperative. Business understands the meaning of establishing a relationship in several Asian countries like china and Japan as well as the Latin American countries.
Individuals living inside the borders of societies identified with very different ethnicity frequently permeate vastly different moral principles via generative identity processes. These cultural norms (e.g. Confucian) predominant within one society may not have any real equivalent in some other (e.g. Islamic) community.
Nina McRidder violated a cultural imperative by joking about the monarchy, showing a lack of understanding of the cultural importance of respecting foreign dignitaries in a professional setting.
Explanation:Nina McRidder has violated what is commonly referred to as a cultural imperative. A cultural imperative refers to standard practices or rules of behavior that are considered essential in specific cultural or social contexts.
Making jokes about a monarch in front of a visiting group from a country which is still influenced by monarchy demonstrates a lack of understanding of this cultural imperative, especially since in many cultures, political ridicule by foreigners may be viewed as disrespect rather than humor. Understanding and conforming to cultural imperatives is important in international business and social interactions to maintain respect and harmony.
Suppose the government decided that homemakers should be counted as employed because they perform important services. How do you think this change would affect our measure of the labor force, the labor force participation rate, and the unemployment rate?
Answer:
The labor force and the labor force participation rate would increase and the unemployment rate would decrease.
Explanation:
The rate of unemployment is characterized as the share of the total workforce unemployed.Employment rates are characterized as the degree to which labor resources are available.Once the government decided to recognize homemakers as workers as they provide important facilities, the labor force and employment rate would rise and the rate of unemployment would fall.so, the above answer is correct.
Final answer:
If the government decided to count homemakers as employed, it would increase the labor force and the labor force participation rate, and decrease the unemployment rate.
Explanation:
If the government decided that homemakers should be counted as employed because they perform important services, it would have an impact on our measure of the labor force, the labor force participation rate, and the unemployment rate. The labor force refers to all nonmilitary people who are employed or unemployed. By counting homemakers as employed, the size of the labor force would increase as more individuals would be considered part of the working population.
The labor force participation rate is the percentage of the working-age population that is part of the labor force. Adding homemakers as employed would likely increase the labor force participation rate, as it would increase the denominator (total labor force), while the numerator may not see a proportionate increase. The unemployment rate is calculated by dividing the number of unemployed individuals by the labor force. If homemakers are categorized as employed, it would decrease the number of unemployed individuals, resulting in a lower unemployment rate.
You have purchased one call option expiring in one year with a strike price of $40. The current price of the underlying is $30, the interest rate is zero, and the premium for the call option is $2.63.
(1) Draw the payoff and P&L diagrams for the call option at expiration.
(2) What is the P&L on the option at expiration if the underlying is $57.50 (i.e. S, = 57.5)?
Answer:
Explanation:
2)
Calculation of P&L
Underlying Price = $ 57.70
Underlying Price is more than exercise price (40) ⇒ the option is exercised.
Initial Cash Flow = - $ 2.63
Cash Flow at Expiration = $ 57.70 - $ 40 = $ 17.70
Prrofit = $ 17.7 - $ 2.63 = $ 15.07
What song lyric from the Rolling Stones expresses a powerful economic idea?
Answer:
The correct answer is: "You can't always get what you want".
Explanation:
British well-known rock band "The Rolling Stones" was formed in 1962. Along their hits, we can identify "Paint it black", "Give me shelter", "Wild Horses", "Waiting on a friend" or "You can't always get what you want" (released in 1996) which is a song encouraging people to fight for what they want to achieve even if not all the time what is desired can be obtained.
Final answer:
The Rolling Stones' song 'You Can't Always Get What You Want' and the song 'Brother, Can You Spare a Dime?' both reflect powerful economic ideas, with the former speaking to the concept of scarcity and the latter illustrating the economic troubles during the Great Depression.
Explanation:
The Rolling Stones' song lyric that expresses a powerful economic idea is from their track 'You Can't Always Get What You Want'. This lyric reflects an economic concept that resources are limited and thus individuals cannot always obtain everything they desire. This mirrors the sentiments expressed by English economist Lionel Robbins in his Essay on the Nature and Significance of Economic Science in 1932. Robbins highlighted the fundamental problem of scarcity in economics, where unlimited wants clash with limited resources, hence not everyone can get what they want.
a. government control of the market.b. market forces working through the price mechanism.c. the money supply that serves to keep the economy working smoothly.d. the role of innovation in maintaining a steady rate of growth.e. "behind-the-scenes" policy making to influence how markets allocate scarce resources.
Complete Question:
The "invisible hand" using Adam Smith's terminology refers to
a. government control of the market.
b. market forces working through the price mechanism.
c. the money supply that serves to keep the economy working smoothly.
d. the role of innovation in maintaining a steady rate of growth.
e. "behind-the-scenes" policy making to influence how markets allocate scarce resources.
Answer:
The "invisible hand" using Adam Smith's terminology refers to Market forces working through the price mechanism.
Explanation:
The invisible hand is the in observable market force, which helps demand and delivers goods automatically to balance in a free market.
Description: In his book ' The Wealth of Nations ' Adam Smith implemented the phrase of the invisible hand.
An invisible hand that defines the processes through which favorable social and economic effects that emerge out of the self-interested behaviors obtained by individuals, who have no intention of producing such results. The term developed by the eighteenth-century British philosopher and economist Adam Smith.
The cost of capital for an all-equity-financed company that pays no dividends is zero.
A. True
B. False
Answer:
The correct answer is letter "B": False.
Explanation:
Cost of Capital is the cost of funds used to finance a business. Typically, corporations obtain financing by a combination of issuing equity in the form of shares and by taking on debt through borrowing from banks or issuing bonds. The people who provide the company with its capital also want to earn a return on their investment.
Thus, paying dividends is not the only obligation considered while calculating the cost of capital. Then, The cost of capital for an all-equity-financed company that pays no dividends is unlikely to be zero.
Assume the following information pertaining to Moonbeam Company:
Beginning Finished Goods Inventory = $130,000
Ending Finished Goods Inventory = $124,000
Beginning WIP Inventory = $85,000
Ending WIP Inventory = $104,000
Beginning Direct Materials = $117,000
Ending Direct Materials = $130,000
Costs incurred during the period are as follows:
Total Manufacturing Costs = $896,000
Factory Overhead = $199,000
Direct Materials Used = $156.000
Materials purchases are calculated to be:
a) $143,000.
b) $156,000.
c) $91,000.
d) $169,000.
e) $140,000.
Answer:
d. Material Purchases = $ 169,000
Explanation:
Cost Of Goods Statement.
Beginning Direct Materials = $117,000
Add Material Purchases = $ 169,000
Less Ending Direct Materials = $130,000
Direct Materials Used = $156,000 ( given)
Direct Labor= $ 697,000
Factory Overhead = $199,000
Total Manufacturing Costs = $896,000
Beginning WIP Inventory = $85,000
Ending WIP Inventory = $104,000
Cost of Goods Manufactured= $ 1033,000
Beginning Finished Goods Inventory = $130,000
Ending Finished Goods Inventory = $124,000
Cost Of Goods Statement = $ 1039,000
Materials purchases for Moonbeam Company are calculated using the formula: Ending Direct Materials + Direct Materials Used - Beginning Direct Materials, yielding a total of $169,000. The correct answer is d.
Explanation:The student has asked for assistance with calculating materials purchases for Moonbeam Company given a set of financial inventory information and costs incurred during a period. To derive the materials purchases, we need to use the following formula:
Materials Purchased = Ending Direct Materials + Direct Materials Used - Beginning Direct Materials
Now, plugging in the given values:
Materials Purchased = $130,000 + $156,000 - $117,000
Therefore, the materials purchased are calculated to be $169,000, which corresponds to option (d).
Suppose the following financial data were reported by 3M Company for 2014 and 2015 (dollars in millions).
3M Company
Balance Sheets (partial)
2015
2014
Current assets
Cash and cash equivalents $ 3,040 $1,849
Accounts receivable, net 3,250 3,195
Inventories 2,639 3,013
Other current assets 1,866 1,541
Total current assets $10,795 $9,598
Current liabilities $ 4,897 $5,839
Your answer is incorrect. Try again.
Calculate the current ratio and working capital for 3M for 2014 and 2015. (Round current ratio to 2 decimal places, e.g. 1.25 : 1.)
Current ratio
2014
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2015
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Working capital
2014
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million
2015
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million
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Your answer is incorrect. Try again.
Suppose that at the end of 2015, 3M management used $200 million cash to pay off $200 million of accounts payable. How would its current ratio and working capital have changed? (Round current ratio to 2 decimal places, e.g. 1.25 : 1.)
Current ratio
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:1
Working capital
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million
The current ratio and working capital for 3M in 2014 were 1.64 : 1 and $3,759 million, respectively. In 2015, the current ratio was 2.20 : 1 and working capital was $5,898 million. If $200 million cash was used to pay off accounts payable in 2015, the new current ratio would be 2.30 : 1 and working capital would be $6,098 million.
Explanation:The current ratio can be calculated by dividing total current assets by total current liabilities. To calculate working capital, subtract total current liabilities from total current assets.
Calculation for 2014:Current ratio: 9598/5839 = 1.64 : 1Working capital: 9598 - 5839 = $3,759 millionCalculation for 2015:Current ratio: 10795/4897 = 2.20 : 1Working capital: 10795 - 4897 = $5,898 millionIf 3M management used $200 million cash to pay off accounts payable, the new current ratio would be 10795/4697 = 2.30 : 1 and the new working capital would be 10795 - 4697 = $6,098 million.
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The price of DVDs (D) is $20.00 and the price of CDs (C) is $20.00. Phillip has a budget of $100.00 to spend on the two goods. Suppose that he has already bought 1 DVD and 1 CD. In addition, there are 3 more DVDs and 3 more CDs that he would really like to buy.
1. Using the line drawing tool, given the above prices and income, draw her budget line. Label this line 'L'.
2. Using the point drawing tool, and considering what Katrina has already purchased and what she still wants to purchase, identify the three different bundles of CDs and DVDs that she could choose.
Phillip has $60 left to spend on DVDs and CDs, each costing $20. He can only afford 3 additional items in any combination within his budget. His budget line will connect the points (4,0) and (0,4) on a graph, indicating the total DVDs and CDs he can buy.
Explanation:Considering Phillip has already purchased 1 DVD and 1 CD, he has spent $40 from his $100 budget. Phillip wants to buy 3 more DVDs and CDs each, with each DVD and CD priced at $20. To draw Phillip's budget line, we need to understand how many additional DVDs and CDs he can afford with his remaining budget of $60.
Theoretically, without any prior purchases, Phillip could buy 5 DVDs or CDs in total since $100 divided by $20 equals 5. However, with 1 DVD and 1 CD already purchased, his budget line would then cross the horizontal axis (for CDs) at 4 and the vertical axis (for DVDs) at 4 due to the remaining $60 to be spent (each worth $20). The budget constraint would look like a line connecting these two points (4,0) and (0,4) with a slope of -1, indicating that for every additional DVD added, one CD must be removed, and vice versa, due to the budget constraint.
With respect to the bundles Phillip may choose, there are several combinations left up to the budget limit. For 3 more of each item, he would spend $120, which is beyond his budget, hence he cannot afford all 3 additional DVDs and CDs. Here are three different bundles within his budget that Phillip could consider with his remaining $60:
Bundle A: 2 DVDs and 1 CD (total cost $60)Bundle B: 1 DVD and 2 CDs (total cost $60)Bundle C: 3 DVDs and 0 CDs (total cost $60) or 0 DVDs and 3 CDs (total cost $60)Learn more about Budget Constraint here:https://brainly.com/question/34549599
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Suppose a flood changes the production capacity in a country. How would you represent this situation with a production possibilities frontier?
Explanation:
The flood will lead to the destruction of the resources in the country.This will result in the shifting of the PPC curve leftward in the economy.
Earlier PPC is represented by PP curve.After the floods and destruction of resources,the curve shifts to P1P1.It is due to the availability of the number of possible combinations which decreases with the destruction of resources.
A responsibility report provided to a manager typically includes: A) A list of all the items under the manager's control B) The differences between the budgeted and actual amounts for each item on the report C) The budgeted amount for each item on the report 12)- D) All of these are coIrect answers
Answer:
The correct answer is letter "D": All of these are correct answers.
Explanation:
Responsibility reports are pools of information comparing the expected duties of different departments compared to what was budgeted at the beginning of the period of the operations of the company. Also, it ratifies what the duties of the managers are on behalf of those departments' performance. The information of responsibility reports may vary according to the manager that the report is directed to: the higher the rank, the complex the report will be.
Pentrall Bros. is a seller of used automobiles. A research study conducted by the company indicates that customers are not willing to pay more than 70 percent of the market price of a new car for a used car. In light of this, the company makes sure that the prices of used cars are not set higher than 70 percent of the market value. In this scenario, Pentrall Bros. is trying to avoid _____.
Answer:
The endowment effect
Explanation:
According to the endowment effect, people are emotionally biased and tend to over value what they already own and undervalue what they haven't purchased.
They form some kind of attachment to what belongs to them and attach extra value to the item, due to the fear of losing it.
For example a person may prefer to continue using an old car rather than pay a certain amount to buy another used car.
Pentrall Bros, is trying to avoid the endowment effect by ensuring the prices of its used cars, are not higher than the prices at which customer's value them.
Tiger Trade has the following cash transactions for the period.
Accounts Amounts
Cash received from sale of products to customers $ 36,500
Cash received from the bank for long-term loan 41,500
Cash paid to purchase factory equipment (46,500 )
Cash paid to merchandise suppliers (11,300 )
Cash received from the sale of an unused warehouse 12,300
Cash paid to workers (23,300 )
Cash paid for advertisement (3,300 )
Cash received for sale of services to customers 26,500
Cash paid for dividends to stockholders (5,300 )
Assume the balance of cash at the beginning of the period is $4,300.
Required:
1. Calculate the ending balance of cash.
2. Prepare a statement of cash flows.
Answer:
1. Ending balance of cash is $31400
Explanation:
1.
Balance of cash at the beginning of the period is $4,300
+Cash received from sale of products to customers $ 36,500
+Cash received from the bank for long-term loan 41,500
-Cash paid to purchase factory equipment (46,500 )
-Cash paid to merchandise suppliers (11,300 )
+Cash received from the sale of an unused warehouse 12,300
-Cash paid to workers (23,300 )
-Cash paid for advertisement (3,300 )
+Cash received for sale of services to customers 26,500
-Cash paid for dividends to stockholders (5,300 )
Balance of cash at the beginning of the period is $31,400
2.
Cash Flow Statement
Cash flow from Operating Activities
Cash received from sale of products to customers $ 36,500
Cash received for sale of services to customers 26,500
Cash paid to merchandise suppliers (11,300 )
Cash paid to workers (23,300 )
Cash paid for advertisement (3,300 )
Total Cash Inflow / outflow from Operating Activity 25,100
Cash flow from Investing Activities
Cash paid to purchase factory equipment (46,500 )
Cash received from the sale of an unused warehouse 12,300
Cash paid for dividends to stockholders (5,300 )
Total Cash Inflow / outflow from Investing Activity (39,500 )
Cash flow from Financing Activities
Cash received from the bank for long-term loan 41,500
Total Cash Inflow / outflow from Financing Activity 41,500
Net cash Inflow / Outflow 27,100
Balance of cash at the beginning of the period is 4,300
Balance of cash at the beginning of the period is 31,400
To calculate the ending balance of cash, add the inflows and subtract the outflows. The ending balance of cash is $900. To prepare a statement of cash flows, categorize the cash transactions into operating, investing, and financing activities.
Explanation:To calculate the ending balance of cash, we need to calculate the total cash inflows and subtract the total cash outflows. Starting with the beginning balance of cash ($4,300), we add the cash received from sales of products ($36,500), cash received from the bank for a long-term loan ($41,500), and cash received from the sale of an unused warehouse ($12,300). Next, we subtract the cash paid to purchase factory equipment ($46,500), cash paid to merchandise suppliers ($11,300), cash paid to workers ($23,300), cash paid for advertisement ($3,300), and cash paid for dividends to stockholders ($5,300).
Adding the inflows and subtracting the outflows, we can calculate the ending balance of cash. The cash inflows total $90,600 ($36,500 + $41,500 + $12,300) and the cash outflows total $89,700 ($46,500 + $11,300 + $23,300 + $3,300 + $5,300). Subtracting the outflows from the inflows, the ending balance of cash is $900 ($90,600 - $89,700).
To prepare a statement of cash flows, we categorize the cash transactions into operating activities, investing activities, and financing activities. The operating activities include cash received from the sale of products and services to customers, cash paid to suppliers, and cash paid to workers. The investing activities include the cash received from the sale of the unused warehouse and the cash paid to purchase factory equipment. The financing activities include the cash received from the bank for a long-term loan and the cash paid for dividends to stockholders.
A corporation had the following assets and liabilities at the beginning and end of this year.Assets LiabilitiesBeginningofd'ieyear......... $60,000 $20,000Endoftheyear............. I05,000 36,000Determine the net income earned or net loss incurred by the business during the year for each of the following separatecases:a. Owner made no investments in the business and no dividends were paid during the year.b. Owner made no investments in the business but dividends were $1,250 cash per month.c. No dividends were paid during the year but the owner did invest an additional $55,000 cash iex-change for common stoclcd. Dividends were $1,250 cash per month and the owner invested an additional $35,000 cash in ex-change for commonstoclc
Answer:
Explanation:
The computation of the net income earned or net loss incurred by the business during the year is shown below:
Particulars a b c d
Opening Balance of Equity $40,000 $40,000 $40,000 $40,000
Owner investments $55,000 $35,000
Less: Dividends -$15,000 -$15,000
Net income(loss) $29,000 $44,000 -$26,000 $9,000
Ending balance of equity $69,000 $69,000 $69,000 $69,000
The opening and ending balance of equity has come by considering
= Total assets - Total liabilities
According to generally accepted accounting principles (GAAP), revenue is recognized as income when:
a contract is signed to perform a service or deliver a good.
managers decide to recognize it.
payment is requested.
income taxes are paid on the revenue earned.
the transaction is complete and the goods or services are delivered.
Answer:
the transaction is complete and the goods or services are delivered.
Explanation:
According to generally accepted accounting principles (GAAP), the revenue should be recognized when the goods or services are delivered and the transaction is completed in all respects.
The revenue recognition principle applies when the revenue is realized or earned whether cash is received or not plus it also follows the accrual basis of accounting. Here, realizable means that customer received the product but the payment is made at the later date
Revenue is recognized as income under GAAP when a transaction is complete and goods or services have been delivered.
Explanation:According to the generally accepted accounting principles (GAAP), revenue is recognized as income only when the entire transaction is complete and the goods or services have been fully delivered to the customer. This is often referred to as the revenue recognition principle, which is a cornerstone of accrual accounting. It's important for companies to follow this principle in order to accurately represent the company's financial health in its financial statements. For instance, if a company agrees to deliver 100 items to a customer and it has only delivered 50, it can't recognize the entire contracted revenue yet, only the portion related to the 50 delivered items.
Learn more about GAAP revenue recognition here:https://brainly.com/question/34493097
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In general, trademark protection prevents another firm from using the same or a similar name, logo, or other identifying characteristics in a way that would cause confusion in the minds of potential buyers.
True or false?
Answer:
True
Explanation:
Firms and organisations need to register their companies as this helps them to avoid any problem related to the company's name and trademark in the future. Furthermore, trademark protection prevents another firm to copy another firms name, logo or tagline which can create confusion in the minds of potential buyers. Trademark protection costs a very minimal amount but protects a company's name.
Carl and Karina file a joint return. Karina earned a salary of $38,000 and received dividends of $3,000, taxable interest income of $2,000, and nontaxable interest of $1,000. Carl received $9,000 of social security benefits and a gift of $6,000 from his brother. What amount of social security benefits is taxable to Carl and Karina?
Answer:
The amount of social security benefits is taxable to Carl and Karina is $7650.
Explanation:
For joint filing return combined income of $32,000 to $44,000 you will pay 50% of your social security income and if you have combined income more than $44,000 you can expect to pay taxes up to 85% of your social security amount.
Social security amount that is taxable = $9,000*85/100
= $7650
Therefore, The amount of social security benefits is taxable to Carl and Karina is $7650.