Answer:
A)i) web browser software :
ii) web server software :
B) i) Web browser software: Auto-download updates and Tracking functionality
ii) web server software : unauthorized access and unsecure connection from web browse
C) i) Legal and regulatory controls
ii) Access controls
D) i) Validation process -
ii) Define Requirements-
iii) Develop:
iv)Testing: Test what has been developed
v) Review/Management :
Explanation:
A ) Functions that the software application should provide
i) web browser software : This functions requires the software to make requests from the relevant web pages and sending them to the web server software application and serve it up to customers
ii) web server software : This function means that the software should be able to store, process and deliver web pages to web browser applications’.
B) Functions that this software application should prohibit
i) Web browser software: Auto-download updates and Tracking functionality
ii) web server software : unauthorized access and unsecure connection from web browser
C) Controls that are necessary to ensure application software operates as intended
i) Legal and regulatory controls such as privacy laws, and copyright policies will help the software operate smoothly
ii) Access controls such as user authentication when a user is trying to login is very vital for the security of the user
D Steps necessary to validate that the software operates as intended
i) Validation process - The validation process is the first step which is intended to implement plans that identifies who has access to the software, what is been done on the software, and where the software is going to be accessed from.
ii) Define Requirements- defining the functions of the software and what the system can't do as well
iii) Develop: after Defining the requirements the next step is to develop the software in line with the defined requirements
iv)Testing: Test what has been developed
v) Review/Management : After successful testing of the product/software a review of the whole process before commercializing it is required as well
The following are selected account balances from Penske Company and Stanza Corporation as of December 31, 2021:
Penske Stanza
Revenues $(842,000 ) $(568,000 )
Cost of goods sold 299,700 142,000
Depreciation expense 207,000 304,000
Investment income Not given 0
Dividends declared 80,000 60,000
Retained earnings, 1/1/21 (668,000 ) (222,000 )
Current assets 572,000 566,000
Copyrights 1,076,000 449,500
Royalty agreements 604,000 1,180,000
Investment in Stanza Not given 0
Liabilities (546,000 ) (1,631,500 )
Common stock (600,000 )($20 par) (200,000 ) ($10 par)
Additional paid-in capital 150,000 80,000
On January 1, 2013, Penske acquired all of Stanza's outstanding stock for $680,000 fair value in cash and common stock. Penske also paid $10,000 in stock issuance costs. At the date of acquisition copyrights (with a six-year remaining life) have a $440,000 book value but a fair value of $560,000.
a. As of December 31,2013, what is the consolidated copyrights balance?
b. For the year ending December 31,2013, what is consolidated net income?
c. As of December 31,2013, what is the consolidated retained earnings balance?
d. As of December 31,2013, what is the consolidated balance to be reported for goodwill?
Answer:
a. $1,625,500
b. $437,300
c. $1,025,300
d. $58,000
Explanation:
a. As of 31, December 2013, what is the consolidated copy rights balance
b. For the year ending, December 31, 2013, what is consolidated net income
c. As of December 31, 2013, what is the consolidates retained earnings balance
d. As of December 31, 2013 what is the consolidated balance to be reported for Goodwill.
Please find attached detailed explanations to the above questions and answers.
Elaine Sweeney went to Ragged Mountain Ski Resort in New Hampshire with a friend. Elaine went snow tubing down a run designed exclusively for snow tubers. There were no Ragged Mountain employees present in the snow-tube area to instruct Elaine on the proper use of a snow tube. On her fourth run down the trail, Elaine crossed over the center line between snow-tube lanes, collided with another snow tuber, and was injured. Elaine filed a negligence action against Ragged Mountain seeking compensation for the injuries that she sustained. Two years earlier, the New Hampshire state legislature had enacted a statute that prohibited a person who participates in the sport of skiing from suing a ski-area operator for injuries caused by the risks inherent in skiing. Using the information to answer the following questions.
a. What defense will Ragged Mountain probably assert?
b. The central question in this case is whether the state statute establishing that skiers assume the risks inherent in the sport bars Elaine's suit. What would your decision be on this issue? Why?
c. Suppose that the court concludes that the statute applies only to skiing and not to snow tubing. Will Elaine's lawsuit be successful? Explain.
d. Now suppose that the jury concludes that Elaine was partly at fault for the accident. Under what theory might her damages be reduced in proportion to the degree to which her actions contributed to the accident and her resulting injuries?
Explanation:
1. Ragged mountains assertion of defense is 'assumption of risk'. In this scenario, Elaine Sweeney exposed herself to risk while snow tubing at the absence of an instructor. snow tube run is solely for snow tubers. ragged mountain can use this defense
2. new hampshire has prohibited people from suing for injuries received due to skiing risks. in a case of this sort, ms Elaine would be assumed to know all possible risks involved. the defendant will be favored since it has been advised that people should not go into sports of these sorts witout good training and an instructor.
3. no Elaine's lawsuit will not be successful if the conclusion of the court is that the statue applies to skiing and not to snow tubing. one should be cautious during snow tubing. she went snow tubing without proper care. it is likely that she may not win the case.
4. the theory is contributory negligence theory. her damages is going to be reduced in proportion with the actions that has brought about her accident. for this reason she is partly responsible.
The Ragged Mountains were established in the year 1997 and were made to the knowledge of the public in the year 1999.
The mountains included a collection of Charlottesville surrounded by the river basin everywhere with almost the oak and yellowwoods.
1. The 'assumption of risk' defense is used by the Ragged Mountains. Elaine Sweeney put herself in danger while snow tubing in the absence of an instructor in this scenario.
The snow tube run is exclusively for tubers. This defense can be used by the ragged mountain.
2. The state of New Hampshire has made it illegal to sue for injuries sustained while skiing. In a situation like this, it's reasonable to assume that Ms. Elaine is aware of all potential dangers.
The defendant will be favored because it has been suggested that people should not participate in sports of this nature without proper training and supervision.
3. No, Elaine's lawsuit will fail if the court decides that the statute only applies to skiing and not to snow tubing. Snow tubing should be approached with caution.
She went snow tubing without taking the necessary precautions. It is very likely that she will lose the case.
4. Contributory negligence theory is the fourth theory. Her damages will be reduced in direct proportion to the actions that caused her accident. As a result, she bears some responsibility.
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The accounting for bond premiums is not the mirror image of that for the bond discounts. Pacific Independent School District issued $100 million of general obligation bonds to finance the construction of new schools. The bonds were issued at a premium of $0.6 million.
1. Prepare the capital projects fund journal entries to record the issue of the bonds and the transfer of the premium to an appropriate fund.
2. Suppose, instead, that the bonds were issued at a discount of $0.6 million but that the project will still cost $100 million. Prepare the appropriate entries.
a. Contrast the entries in this part with those in part 1.
b. Indicate the options available to the school district, and state how they would affect the entries required of the district.
c. Suppose that the government chose to finance the balance of the project with general revenues. Prepare the appropriate capital projects fund entry.
Answer:
1. Dr Cash$100,600,000
Cr Bond proceeds $100,000,000
Cr Bond proceeds $600,000
Dr Nonreciprocal transfer of bond premium to debt service fund $600,000
Cr Due to debt service fund/Cash $600,000
2. Dr Cash $994,000,000
Dr Other financing sources-bond proceeds(Bond discount)$600,000
Cr Other financing sources-bond proceeds(Face value)$100,000,000
2a. In a situation where the bonds are been issued at a discount the debt services will have unavailable resources that they would send to the capital project fund.
2b. Both the Bonds premiums and that of the discount will be an issue reason been that the uncertainly of the amount of cash or money that are in excess will have to be disposed off as well as the ways of compensating for the cash deficiency
2c. Dr Due from the general fund $600,000
Cr Other financing use- nonreciprocal Transfer from the general fund $600,000
Explanation:
1.Preparation of the capital projects fund journal entries
Dr Cash$100,600,000
($100,000,000+$600,000)
Cr Bond proceeds (Face value amount)$100,000,000
Cr Bond proceeds (Bond premium amount)$600,000
(To record issuance of bonds sold at a premium)
Dr Nonreciprocal transfer of bond premium to debt service fund $600,000
Cr Due to debt service fund/Cash $600,000
(To record the premium payable to the debt service fund)
2. Preparation of the Journal entries.
suppose the bonds were issued at a discount of $0.6 million in which the project will still cost $100 million.
Dr Cash $994,000,000
($100,000,000-$600,000)
Dr Other financing sources-bond proceeds(Bond discount)$600,000
Cr Other financing sources-bond proceeds(Face value)$100,000,000
(To record the issue of bonds at a discount)
2a. When Contrasting the Journal entries in this part with those in part 1 this means that in a situation where the bonds are been issued at discount the debt services will have unavailable resources that they would send to the capital project fund.
2b. The options that are available to the school district and how they would affect the entrees required of the district is that both Bonds premiums as well as that of the discount will be an issue reason been that the uncertainly of the amount of cash or money that are in excess will have to be disposed off as well as the the ways of compensating for the cash deficiency
2c. Preparation of the appropriate capital projects fund Jounal entry
Dr Due from the general fund$600,000
Cr Other financing use- nonreciprocal Transfer from the general fund $600,000
Two methods can be used for producing solar panels for electric power generation. Method 1 will have an initial cost of $550,000, an annual operating cost of $160,000 per year, and $125,000 salvage value after its three-year life. Method 2 will cost $830,000 with an annual operating cost of $120,000. and a $240,000 salvage value after its five-year life. The company has asked you to determine which method is better, but it Wants the analysis done over a three-year planning period. The salvage value of Method 2 will be 35% higher after three years than it is after five years. If the company's minimum attractive rate of return is 10% per year, which method should the company select?
Answer:
the company should choose method 1
Explanation:
Method 1 Method 2
Initial outlay $550,000 $830,000
operating costs (years 1,2,3) $160,000 $120,000
salvage value $125,000 $324,000
we must determine which alternative has the lowest present value:
method 1 = $550,000 + $160,000/1.1 + $160,000/1.1² + $160,000/1.1³ - $125,000/1.1³ = $550,000 + $145,455 + $132,231 + $120,210 - $93,914 = $853,982
method 2 = $830,000 + $120,000/1.1 + $120,000/1.1² + $120,000/1.1³ - $324,000/1.1³ = $830,000 + $109,091 + $99,174 + $90,158 - $243,426 = $884,996
Which government tax incentive retirement account allows a person to contribute after-tax earnings?
a. Contribution matching
b. Roth IRA
c. Traditional IRA
d. 529 plan
Answer:
B.
Explanation:
If you look this question up on your main search engine, it should give you this answer. Let me know if it's wrong.
The tax incentive being provided by government to eligible taxpayers at the time of retirement that allows an individual for contributing after tax income is the Traditional IRA.
Option C is correct.
What is the after tax-income?After tax income is the amount being earned by individual after paying off the taxes on the basis of their filing status. It is determined by deducting tax expense from the amount of gross income.
Traditional IRA is one of the retirement account that permits a person for making contributions of gross revenues or after-tax revenues for investment. If the amount invested is complied with the rules as framed by tax authorities, then it can be considered for tax deductions. This leads to lowering of tax liability to some extent.
Therefore, the traditional IRA is the tax incentive allowing an individual on after tax income.
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The following inventory information is available for Ricci Manufacturing Corporation for the year ended December 31, 2017:
Beginning Ending
Inventories: Raw materials $17,000 $19,000
Work in process 9,000 14,000
Finished goods 11,000 8,000
Total $37,000 $41,000
In addition, the following transactions occurred in 2017:
1. Raw materials purchased on account, $75,000.
2. Incurred factory labor, $80,000, all is direct labor. (Credit Factory Wages Payable).
3. Incurred the following overhead costs during the year: Utilities $6,800, Depreciation on manufacturing machinery $8,000, Manufacturing machinery repairs $9,200, Factory insurance $9,000 (Credit Accounts Payable and Accumulated Depreciation).
4. Assigned $80,000 of factory labor to jobs.
5. Applied $36,000 of overhead to jobs. Instructions
Required:
a. Journalize the above transactions.
b. Reproduce the manufacturing cost and inventory accounts.
c. From an analysis of the accounts, compute the following:
1. Raw materials used.
2. Completed jobs transferred to finished goods.
3. Cost of goods sold.
4. Under- or overapplied overhead.
Answer:
Ricci Manufacturing Corporation
a. Journal Entries;
1. Debit Raw Materials Inventory $75,000
Credit Accounts Payable $75,000
To record the purchase of materials on account.
2. Debit Factory Wages $80,000
Credit Factory Wages Payable $80,000
To record factory labor incurred on account.
3. Debit Manufacturing Overhead:
Utilities $6,800
Depreciation $8,000
Machinery Repairs $9,200
Factory Insurance $9,000
Credit: Accounts Payable $25,000
Accumulated Depreciation $8,000
To record manufacturing overhead costs incurred.
4. Debit Work in Process $80,000
Credit Factory Wages $80,000
To record the assignment of factory labor to jobs.
5. Debit Work in Process $36,000
Credit Manufacturing Overheads $36,000
To apply overhead to jobs.
b. Manufacturing cost and Inventory Accounts:
Raw Materials
Accounts Titles Debit Credit
Balance $17,000
Accounts payable 75,000
Work in Process 73,000
Balance $19,000
Work in Process
Accounts Titles Debit Credit
Balance $9,000
Raw materials 73,000
Factory Wages 80,000
Manuf. Overhead 36,000
Finished Goods $184,000
Balance $14,000
Finished Goods
Accounts Titles Debit Credit
Balance $11,000
Work in Process 184,000
Cost of goods sold $187,000
Balance $8,000
c. Computation of:
1. Raw materials used
= Beginning Inventory + Purchases - Ending Inventory
= $17,000 + $75,000 - $19,000
= $73,000
2. Completed jobs transferred to finished goods
= Beginning WIP + Raw materials used + Labor + Overhead - Ending WIP
= $9,000 + $73,000 + $80,000 + $36,000 - $14,000
= $184,000
3. Cost of goods sold
= Beginning Finished Goods + Manufacturing Costs - Ending Finished Goods
= $11,000 + $184,000 - $8,000
= $197,000
4. Under- or overapplied overhead
= Total Incurred manufacturing overhead - applied manufacturing overhead
= $33,000 - $36,000
= $3,000 over-applied
Explanation:
a) Data:
Beginning Ending
Inventories:
Raw materials $17,000 $19,000
Work in process 9,000 14,000
Finished goods 11,000 8,000
Total $37,000 $41,000
If the expected sales volume for the current period is 9,000 units, the estimated the beginning inventory is 200 units and the desired ending inventory is 300 units, calculate the production budget for the current period.Group of answer choices9,0008,9008,7009,100
Answer:
Production= 9,100 units
Explanation:
Giving the following information:
Sales= 9,000 units
Beginning inventory= 200 units
Desired ending inventory= 300 units
To calculate the budgeted production for the period, we need to use the following formula:
Production= sales + desired ending inventory - beginning inventory
Production= 9,000 + 300 - 200
Production= 9,100 units
Early in the current year, Amazon Co. purchased the Rio Silver Mine at a cost of $30,000,000. The mine was estimated to contain 400,000 tons of ore and to have a residual value of $7,500,000 after mining operations are completed. During the year, 115,000 tons of ore were removed from the mine. At year-end, the book value of the mine is:
Answer:
$23,531,250
Explanation:
Calculation for the book value of the mine using this formula
Book value =(Cost of purchased-Residual value )/Estimated tons* (Tons of ore-Cost of purchased)
Let plug in the formula
Book value=($30,000,000 - $7,500,000)/400,000
Book value = $56.25
Book value=$56.25*115,000 = $6,468,750;
Book value= $30,000,000 - $6,468,750
Book value= $23,531,250
Therefore the book value of the mine will be $23,531,250
Starbooks Corporation provides an online bookstore for electronic books. The following is a simplified list of accounts and amounts reported in its accounting records. The accounts have normal debit or credit balances. Assume the year ended on September 30, 2018.
Accounts Payable $ 610
Accounts Receivable 310
Accumulated Depreciation 910
Cash 310
Common Stock 210
Deferred Revenue 210
Depreciation Expense 310
Equipment 3,210
Income Tax Expense 310
Interest Revenue 110
Notes Payable (long-term) 210
Notes Payable (short-term) 510
Prepaid Rent 110
Rent Expense 410
Retained Earnings 1,510
Salaries and Wages Expense 2,210
Service Revenue 6,230
Supplies 510
Supplies Expense 210
Travel Expense 2,610
Required:
a. Prepare and adjusted trial balance on September 30, 2018.
b. Is the Retained Earnings balance of $1,503 the amount that would be reported on the balance sheet as of September 30, 2018?
Answer:
Please see attached preparation of the above trial balance and retained Earnings.
Explanation:
Please find attached adjusted trial balance and updated value of retained earning in the balance sheet.
Which of the following are examples of career clusters? Select all that apply. PLEASE HURRY
Answer:
E, C, B
Explanation:
Those seem like they'd be Carrer clusters
Tom Scott is the owner, president, and primary salesperson for Scott Manufacturing. Because of this, the company's profits are driven by the amount of work Tom does. If he works 40 hours each week, the company's EBIT will be $615,000 per year; if he works a 50 hour week, the company's EBIT will be $755,000 per year. The company is currently worth $3.85 million. The company needs a cash infusion of $1.95 million, and it can issue equity or issue debt with an interest rate of 7 percent. Assume there are no corporate taxes.
What are the cash flows to Tom under each scenario?
Answer:
Scenario 1: debt is issued
interest expense = $1,950,000 x 7% = $136,500
amount of hours EBIT Net income (all for Tom)
Tom works
40 $615,000 $478,500
50 $755,000 $618,500
Scenario 2: equity is issued
amount of hours Net income Tom's share
Tom works ($3.85 / $5.8 = 66.38%)
40 $615,000 $408,237
50 $755,000 $501,169
g Phil rented out his home for 12 days and collected $50,000 of rental income. How much should Phil include in his gross income for the 12 rental days
Answer:
$0
Explanation:
The rules regarding rental income of your house are simple. You must include all income that you earn from renting your house, condo, etc., if the total rental period for the year is more than 14 days (15 days or more). Since Phil only rented his house for 12 days, then he does not need to include it in his gross income.
Adelberg Corporation makes two products: Product A and Product B. Annual production and sales are 1,500 units of Product A and 1,500 units of Product B. The company has traditionally used direct labor-hours as the basis for applying all manufacturing overhead to products. Product A requires 0.4 direct labor-hours per unit and Product B requires 0.2 direct labor-hours per unit. The total estimated overhead for next period is $87,630. The company is considering switching to an activity-based costing system for the purpose of computing unit product costs for external reports. The new activity-based costing system would have three overhead activity cost pools--Activity 1, Activity 2, and General Factory--with estimated overhead costs and expected activity as follows:
Expected Activity
Activity Cost Pool Estimated Overhead Costs Product A Product B Total
Activity 1 $ 41,400 1,000 500 1,500
Activity 2 15,720 800 400 1,200
General Factory 30,510 600 300 900
Total $ 87,630
(Note: The General Factory activity cost pool's costs are allocated on the basis of direct labor-hours.)
The overhead cost per unit of Product B under the activity-based costing system is closest to:_________
a. $42.90
b. $9.10
c. $21.30
d. $63.92
Answer:
Results are below.
Explanation:
First, we need to calculate the predetermined overhead rate for each activity:
Predetermined manufacturing overhead rate= total estimated overhead costs for the period/ total amount of allocation base
Activity 1= 41,400/1,500= $27.6 per unit of activity
Activity 2= 15,720/1,200= $13.1 per unit of activity
General Factory= 30,510/900= $33.9 per direct labor hour
Now, we can allocate overhead to product B:
Allocated MOH= Estimated manufacturing overhead rate* Actual amount of allocation base
Activity 1= 27.6*500= $13,800
Activity 2= 13.1*400= $5,240
General Factory= 33.9*300= $10,170
Total allocated overhead= $29,210
Unitary allocated overhead= 29,210/1,500= $19.47
The rate of return on the common stock of Flowers by Flo is expected to be 14 percent in a boom economy, 8 percent in a normal economy, and only 2 percent in a recessionary economy. The probabilities of these economic states are 20 percent for a boom, 70 percent for a normal economy, and 10 percent for a recession. What is the variance of the returns
Answer:
the variance is 0.001044
Explanation:
The computation of the variance of the returns is shown below:
But before that expected return to be determined
E(r) = Sum of (probabilities × expected return)
= 0.20 × .14 + 0.70 × 0.08 + 0.10 × 0.02
= 0.086
Now
variance = Sum of (individual return - mean return)^2
= 0.20 × (0.14 -0.086)^2 + 0.7 × (0.08 - 0.086)^2 + 0.10 × (0.02 - 0.086)^2
= 0.001044
hence the variance is 0.001044
Alpha Inc. has receivables from unrelated parties with a face value of $5,000. It transfers these receivables to bank for $4,500, without recourse. It will continue to collect the receivables, depositing them in a non-interest-bearing bank account with the cash flows remitted to the bank at the end of each month. It is not allowed to sell or pledge the receivables to anyone else and is under no obligation to repurchase the receivables from bank. Which of the following is the appropriate treatment for these Accounts receivables?
A) It should show these receivables in its Balance Sheet.
B) It should amortize these receivables.
C) It should derecognize these receivables.
D) It should derecognize these receivables if it retains the interest earned on these.
Answer:
C). It should derecognize these receivables.
Explanation:
Derecognition is characterized as the process of removing or derecognizing a financial asset or liability from the company's balance sheet that was previously acknowledged. In the given situation, the appropriate treatment for the Account receivables would be to dercognize it as the organization does not possess any control over them. Thus, option C is the correct answer.
he GDP deflator in year 4 is 120 and the GDP deflator in year 5 is 130. The rate of inflation between years 4 and 5 is
Answer:
8.33%
Explanation:
The GDP deflator in year 4 is 120
The GDP deflator in year 5 is 130
Therefore the rate of inflation between year 4 and year 5 can be calculated as follows
= 130/120
= (1.0833 -1) × 100
= 0.0833 × 100
= 8.33%
Hence the rate of inflation between year 4 and 5 is 8.33%
The nation of Textilia does not allow imports of clothing. In its equilibrium without trade, a T-shirt costs $24, and the equilibrium quantity is 4 million T-shirts. One day, after reading Adam Smith's The Wealth of Nations while on vacation, the president decides to open the Textilian market to international trade. The market price of a T-shirt falls to the world price of $16. The number of T-shirts consumed in Textilia rises to 8 million, while the number of T-shirts produced declines to 2 million.
a. Illustrate the situation just described in a graph. Your graph should show all the numbers.
b. Calculate the change in consumer surplus, producer surplus, and total surplus that results from opening up trade. (Hint: Recall that the area of a triangle is1/2×base×height
Answer:
a) attached graph
b) triangle S represents the change in supplier surplus = 1/2 x -2,000,000 shirts x $8 = -$8,000,000
triangle C represents the change in consumer surplus = 1/2 x 4,000,000 shirts x ($8) = $16,000,000
All of the following are forms of cognitive bias except:_____.
A. Confirmation bias: This bias occurs when decision makers seek out evidence that confirms their previously held beliefs, while discounting or diminishing the impact of evidence in support of differing conclusions.
B. Anchoring: This is the overreliance on an initial single piece of information or experience to make subsequent judgments. Once an anchor is set, other judgments are made by adjusting away from that anchor, which can limit one’s ability to accurately interpret new, potentially relevant information.
C. Shifting: This is the bias involved in shifting perspectives too rapidly, thereby forgoing objectivity and sound reasoning.
D. Halo effect: This is an observer’s overall impression of a person, company, brand, or product, and it influences the observer’s feelings and thoughts about that entity’s overall character or properties. It is the perception, for example, that if someone does well in a certain area, then they will automatically perform well at something else regardless of whether those tasks are related.
E. Overconfidence bias: This bias occurs when a person overestimates the reliability of their judgments. This can include the certainty one feels in her own ability, performance, level of control, or chance of success.
Answer:
Option C would be the correct answer.
Explanation:
Throughout objective reasoning, cognitive bias seems to be a weakness that has been triggered by that of the human brain's propensity to interpret knowledge through a prism of individual perspective including interests. The types of cognitive bias but for the remaining change.
The types of cognitive bias are almost as follows:
Overconfidence biasConfirmation bias Halo effect Anchoring biasThe latter considerations provided are not closely linked to the case provided. So, the answer above is the right one.
Air conditioning for a college dormitory will cost $2.1 million to install and $170,000 per year to operate at current prices. The system should last 19 years. The real cost of capital is 9%, and the college pays no taxes. What is the equivalent annual cost
Answer:
$404,634
Explanation:
the formula that we can use to calculate equivalent annual costs is:
EAC = asset price x {discount rate / [1 - (1 + discount rate)⁻ⁿ]} + annual maintenance costs
EAC = $2,100,000 x {0.09 / [1 - (1.09)⁻¹⁹]} + $170,000
EAC = $2,100,000 x {0.09 / [1 - (1.09)⁻¹⁹]} + $170,000 = $234,634 + $170,000 = $404,634
EAC is basically the cost of using an asset during its lifetime. We are determining the cost per year, assuming that they are all equal.
Which example requires persuasion from the manager? Asking a colleague to join a leadership panel Giving instructions on how to format a report Giving instructions for answering the phone Requesting details on how to perform a job
Answer:
Asking a colleague to join a leadership panel
Explanation:
Persuasion is the act of convincing a person to behave in a certain way based on beliefs, attitudes, motivation, and intentions shared.
A manager will have to get the buy-in of his subordinates in various scenarios.
The exercise of power or force does not always bring the best results.
The scenario below require persuasion because the other parties have to have a buy-in to the request. They are not mandated to comply.
- Asking a colleague to join a leadership panel
Jeremy wants to avoid conflict with his new coworkers. He should
Spread gossip with them
Treat them all with respect
Talk to the most popular people
d Buy them expensive gifts
Answer:
B
Explanation:
Edge 2020
Jeremy wants to avoid conflict with his new coworkers. He should Treat them all with respect. Hence, option B is correct.
What is coworkers?The persons who work at the same job as you are often considered to be your coworkers. Yet, the term "coworker" is most typically used to describe a fellow employee with whom you frequently interact because of your shared position or level of power or responsibility.
Today, coworker is more frequently used when referring to individuals who share a workspace or tasks, whereas colleague is more frequently used when referring to individuals who work in the same field but not for the same organization.
The simplest response to the debate over the terms "coworker" and "coworker" is that both are acceptable nouns to refer to someone who works beside you.
Thus, option B is correct.
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Mr Store who runs his photocopy business working 8 hours per day process 100 scripts. He estimates his labour cost to be € 9 per hour. Also he has estimated that the total material cost for each script is approximately € 2; while the daily expenses are €28. Calculate the multifactor productivity. In an effort to increase the rate of the photocopy process to 150 scripts, he decides to change the quality of ink thus raising the mate- rial cost to € 2.5 per day. Is the new productivity better than before? If Mr Store would like to increase the photocopy process to 150 scripts without sacrificing the initial multifactor productivity, by what amount has the material costs to be increased?
Answer:
A) 0.33 scripts per euro
B) The new productivity is worse than the old productivity
C) 0.333 euros per script
Explanation:
number of hours worked per day = 8
number of scripts processed per day = 100
Labor cost per hour = 9 euros
Total labor cost per day = 9 * 8 = 72 euros
material cost per script = 2 euros
Total material cost per day = 2 * 100 = 200 euros
daily expenses = 28 euros
A) Calculate the multifactor productivity
= output / Total cost
Total cost = ( 72 + 200 + 28 ) = 300
= 100 / 300
= 0.33 scripts per euro
B ) compare the old and new productivity
Old productivity = 0.33 scripts / euro
new multifactor productivity
= output / Total cost
Total cost = (8*9)+(150*2.5)+28 = 475
= 150 / 475
= 0.3158 scripts per euro
hence the new productivity is worse than the old productivity
C ) using the initial multifactor productivity of 0.333
calculate the target total cost = output / multifactor of productivity
= 150/0.333
= 450 euros
hence Material cost = (450 - 8*9-28)/150
= 2.33 euro per script
So, the material cost will be increased by = 2.33 euros - 2
euros
= 0.333 euros per script
Rodeo, Inc. has a contribution margin ratio of 30%. This month, profit was $12,300 and fixed costs were $15,600. How much was Laredo's sales revenue
Answer:
Sales= $93,000
Explanation:
Giving the following information:
Contribution margin ratio= 0.30
Profit= $12,300
Fixed costs= $15,600
First, we need to determine the total contribution margin:
Total contribution margin= 12,300 + 15,600
Total contribtuion margin= $27,900
Now, to calculate the sales revenue, we need to use the following formula:
Sales= total contribution margin / Contribution margin ratio
Sales= 27,900/0.3
Sales= $93,000
Wainwright Corporation owns and operates a wholesale warehouse.
The following transactions occurred during March 2016:
1. Issued 30,000 shares of capital stock in exchange for $300,000 in cash.
2. Purchased equipment at a cost of $40,000. $10,000 cash was paid and a note payable was signed for the balance owed.
3. Purchased inventory on account at a cost of $90,000. The company uses the perpetual inventory system.
4. Credit sales for the month totaled $120,000. The cost of the goods sold was $70,000.
5. Paid $5,000 in rent on the warehouse building for the month of March.
6. Paid $6,000 to an insurance company for fire and liability insurance for a one-year period beginning April 1, 2016.
7. Paid $70,000 on account for the merchandise purchased in 3.
8. Collected $55,000 from customers on account.
9. Recorded depreciation expense of $1,000 for the month on the equipment.
Required:
1.Analyze each transaction and classify each as a financing, investing and/or operating activity.
A transaction can represent more than one type of activity.
Also indicate the cash effect of each, if any.
Activities:
Transaction Financing Investing Operating
1
2
3
4
5
6
7
8
9
Answer:
Operating transactions
-$5000
-$6000
-$70000
$55000
Total = -$26000
Financing transactions
+ $300000
+ $30000
Total = $330000
Investing transactions
-$10000
- $30000
Explanation:
Operating transactions
-$5000
-$6000
-$70000
$55000
Total = -$26000
Financing transactions
+ $300000
+ $30000
Total = $330000
Investing transactions
-$10000
- $30000
Which of the following best defines a financial intermediary? a claim by a buyer to a future payment by a seller a collection of stocks and bonds issued to investors a financial institution that transforms investor funds into financial assets an asset sold by a company which entitles the buyer to partial ownership
Answer:
Option C (A financial.......assets) is the correct choice.
Explanation:
A financial intermediary seems to be an entity that serves as an intermediary seen between the listing agent as well as the buyer's transactions. They help convert investment properties, swap properties between producers and consumers, respectively. Therefore, a financial intermediary would be a finance company that converts capital instruments into investment capital.Other decisions are given aren't connected to the results provided. So that is indeed the safest decision.
Agency conflicts between managers and shareholders
Remember, an agency relationship can degenerate into an agency conflict when an agent acts in a manner that is not in the best interest of his or her principal. In large corporations, these conflicts most frequently involve the enrichment of the firm’s executives or managers (in the form of money and perquisites or power and prestige) at the expense of the company’s shareholders. This usurping and reallocation of shareholder wealth is most likely to occur when shareholders do not have sufficient information about the decisions and actions being made by the firm’s management.
Consider the following scenario and determine whether an agency conflict exists:
William and Abigail equally own and manage A New Beginning (ANB), a store that sells preowned clothing and furniture. William is responsible for ANB’s back-office activities, and Abigail staffs the store and makes deliveries to customers. Both have equal decision-making authority and, under the terms of their partnership agreement, both are prohibited from making personal purchases using company funds without prior approval of the other partner. William, without Abigail’s knowledge, used the company’s bank account recently to purchase a new sports car. William has acknowledged that the car will not be used to support the business.
Is this a potential agency conflict between William and Abigail?
No; William and Abigail are both authorized to spend ANB’s money, so no conflict of interest can occur.
No; William and Abigail co-own and co-manage ANB and have a partnership agreement that makes them equal, so an agency conflict cannot exist.
Yes; William is misappropriating some of Abigail’s wealth by unilaterally purchasing a nonbusiness asset using ANB’s funds.
Yes; it should have been Abigail who purchased the car.
Consider the following scenario and determine whether an agency conflict exists:
Five years ago, Caesar created a plant-care business that grew, stocked, and maintained fresh plants in office buildings throughout Raleigh. Over time, The Green Zone Inc. (TGZ) has grown from a proprietorship into a corporation, now reaching far beyond Raleigh. To finance and support this growth, TGZ issued shares that were sold to TGZ employees, Caesar’s family members, and selected outsiders. Caesar is TGZ’s chairman of the board of directors and CEO, but he is no longer the largest shareholder.
At the latest annual meeting, two mutually exclusive proposals were placed on the ballot for discussion and vote. The first was put forth by Caesar and TGZ’s management team, and the second was proposed by a small group of other shareholders. Both groups are adamantly opposed to the other group’s proposal, even though both proposals would likely have the same effect on TGZ’s value and riskiness.
Does an agency conflict exist between TGZ’s management and the small group of opposing shareholders?
No; although an agency relationship exists between TGZ’s management—including Caesar as TGZ’s chairman and CEO and the firm’s shareholders—there is no agency conflict, because no expropriation or wasting of the shareholders’ wealth has occurred.
No; Caesar was the original owner of TGZ, so he would always be sensitive to the concerns of the firm’s current owners (shareholders) and would not engage in an agency conflict.
Yes; any conflict or disagreement between the firm’s managers and its shareholders constitutes an agency conflict.
Yes; an agency relationship exists, and an agency relationship always gives rise to agency conflicts, regardless of the actual behavior of the participants.
Which of the following actions will help ease agency conflicts and better align managers’ objectives with the firm’s shareholder wealth?
Pay the manager a large base salary with a huge stock option package that matures on a single date.
Pay the manager a combination of salary and stock options (phased in over several years) that reward him or her for consistently increasing shareholder wealth.
Great Fortunes Baking Company’s stockholders are mostly individual investors, and there is relatively little institutional ownership. If several pension and mutual funds were to take large positions in Great Fortunes Baking Company’s stock, direct shareholder intervention would be more or less likely to motivate the firm’s management.
In the late 1980s and early 1990s, Congress passed legislation making it more difficult for outside investors to stage hostile takeovers. This legislation likely reduced or increased conflicts between managers and stockholders.
Answer:
1. Yes; William is misappropriating some of Abigail’s wealth by unilaterally purchasing a nonbusiness asset using ANB’s funds.
William is enriching himself at the expense of Abigail so indeed an Agency conflict exists.
2. No; although an agency relationship exists between TGZ’s management—including Caesar as TGZ’s chairman and CEO and the firm’s shareholders—there is no agency conflict, because no expropriation or wasting of the shareholders’ wealth has occurred.
An agency conflict arises only when the agent begins to act in a way that is not in the best interest of their principal and enriches themselves at the expense of their principal. This has not happened here so there is no agency conflict.
3. Pay the manager a combination of salary and stock options (phased in over several years) that reward him or her for consistently increasing shareholder wealth.
This way the manager will have an incentive to keep working for the benefit of the shareholders overtime because it would make them well off as well.
4. MORE LIKELY
When Institutional ownership is available like Pensions and Mutual funds, they will be able to put more pressure on management as they will typically own a larger share of shares while at the same time having the expertise required to influence management.
5. INCREASED CONFLICT.
One incentive that can be used to keep management in check is the risk of Hostile Takeovers and the new management can decide to fire the management for poor performance or selfish behavior. If Congress reduces the chances of hostile takeovers, management will be more likely to engage in agency conflicts.
A market has four individuals, each considering buying a grill. Assume that grills come in only one size and model. Martina considers herself a grill-master, and finds a grill a necessity, so she is willing to pay $400 for a grill. Javier is a meat-lover, honing his grilling skills, and is willing to pay $350 for a grill. Kamal wants to impress his friends with his vegetable grilling skills and is willing to pay $320 for a grill. Lina loves grilled shrimp and thinks it might be cheaper in the long run if she grills her own shrimp instead of eating out at a restaurant, so she is willing to pay $200 for a grill. If the market price ofgrills increases from $300 to $320, given the scenario described:
a. Collin is the only consumer who would be affected in terms of surplus.
b. Daniel drops out of the market.
c. Collin drops out of the market.
d. Collin loses any surplus he had.
Answer: d. Kamal loses any surplus he had.
Explanation:
The Consumer Surplus is defined as the difference between what a customer is willing to pay for a good minus the price of the good/ the price they pay.
Kamal was willing to pay $320 and the price was initially $300 which meant that he had a surplus of $20. The price has now increased to $320 which is the amount he is willing to pay so there is no longer a surplus. Kamal loses any surplus he had.
The following information relates to Sheridan Company for the year 2022.
Retained earnings, January 1, 2022 $40,320
Advertising expense $1,510
Dividends during 2022 4,200
Rent expense 8,740
Service revenue 52,500
Utilities expense 2,600
Salaries and wages expense 23,520
Other comprehensive income (net of tax) 340
Required:
a. After analyzing the data, compute net income.
b. Prepare a comprehensive income statement for the year ending December 31, 2022.
Answer:
a. Computation of net income
Particulars Amount
Service revenue $52,500
Less: Expenses
Salaries and wages expenses ($23,520)
Utilities expense ($2,600)
Rent expense ($8,740)
Advertising expense ($1,510)
Net Income $16,130
b. Computation of comprehensive income statement
Particulars Amount
Net Income $16,130
Add: Other Comprehensive Income $380
Comprehensive Income $16,470
Note: Dividend will not be included as it forms part of Income statement
Townsend Industries Inc. manufactures recreational vehicles. Townsend uses a job order cost system. The time tickets from November jobs are summarized as follows:
Job 201 $4,280
Job 202 2,140
Job 203 1,690
Job 204 3,140
Factory supervision 1,460 Factory overhead is applied to jobs on the basis of a predetermined overhead rate of $22 per direct labor hour. The direct labor rate is $15 per hour. If required, round final answers to the nearest dollar.
Required:
a. Journalize the entry to record the factory labor costs.
b. Journalize the entry to apply factory overhead to production for November.
Answer:
Part a.
Work In Process : Job 201 $64,200 (debit)
Work In Process : Job 202 $32,100 (debit)
Work In Process : Job 203 $25,350 (debit)
Work In Process : Job 204 $47,100 (debit)
Salaries Payable $168,750 (credit)
Part b.
Work In Process : Job 201 $94,160 (debit)
Work In Process : Job 202 $47,080 (debit)
Work In Process : Job 203 $37,180 (debit)
Work In Process : Job 204 $69,080 (debit)
Overheads $168,750 (credit)
Explanation:
Calculation of Labor Cost :
Job 201 = 4,280 hours × $15 = $64,200
Job 202 = 2,140 hours × $15 = $32,100
Job 203 = 1,690 hours × $15 = $25,350
Job 204 = 3,140 hours × $15 = $47,100
Application of overhead to jobs :
Job 201 = 4,280 hours × $22 = $94,160
Job 202 = 2,140 hours × $22 = $47,080
Job 203 = 1,690 hours × $22 = $37,180
Job 204 = 3,140 hours × $22 = $69,080
Three workers each take home two packs of Post-It notes at a cost of $.67 per pack.
Answer:
$ 4.02
Explanation:
Take two packs ×3 and it = 6 then take 6 × 67 and you get $4.02