The contribution margin is the weighted average contribution margin of all of a company's products when performing a multi-product break-even analysis under the assumption of a stable product mix.
What percentage of a margin of contribution is weighted average?The weighted average contribution margin calculates the average amount that various products or services reduce a company's fixed costs. The concept provides the foundation for breakeven analysis, which is used to anticipate profit levels for a range of sales volumes.
The contribution margin is the amount that, when divided by the selling price of the good and its total variable costs, is larger than zero. For instance, if a bag sells for $125 and has a $15 variable cost, the contribution margin is $110. This margin helps with fixed cost offset.
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Which of the following recruitment strategies can help an organization reduce labor costs and improve customer service together with accessing top talent?
A. offshoring
B. resume databases
C. observation
D. trade fairs
Option A is correct. Offshoring is the next recruitment strategy that helps companies reduce labor costs, improve customer service, and improve access to top talent.
Offshoring is the transfer of the activity or ownership of an entire business process to a country other than the country in which the company receiving the service is based. This primarily helps in gaining access to a more cost-effective labor market, but it also helps in accessing additional qualified workers or setting up a business establishment in a foreign country. Offshore companies do so through outsourcing agreements with third parties or by establishing their own Global In-House Center (GIC) presence at offshore locations, among other business structures.
There are many ways to outsource your client's operations and business activities. The hard part is deciding which contact center solution (offshore outsourcing, nearshore outsourcing, onshore outsourcing, home-based, or a combination of all) is right for your product or service. In this strategy guide, take a closer look at all your options and learn how each can benefit your business and your customers for years to come.
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______is a method of querying and reporting that takes data from standard relational databases, calculates and summarizes the data, and then stores the data in a special database called a data cube.
Online Analytical Processing is a technique for querying and reporting that extracts data from common relational databases, computes and summaries the data, and then stores the data in a unique database known as a data cube (OLAP).
Online Analytical Processing (OAP) is a technique for querying and reporting that pulls information from common relational databases, computes and summaries it, and then stores it in a unique database known as a data cube (OLAP). With the aid of OLAP, users can evaluate multidimensional data from a variety of angles and condense massive amounts of data into a manageable form. The OLAP data cube is a multidimensional database that holds aggregated data in a structured fashion, facilitating users' ability to carry out intricate analysis and produce reports.
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Mission: "Our mission is what drives us to do everything possible to expand human potential. We do that by creating groundbreaking sport innovations, by making our products more sustainably, by building a creative and diverse global team and by making a positive impact in communities where we live and work."
Vision: "To bring inspiration and innovation to every athlete in the world."
Mission: _______________Vision: ___________Explanation: (explain why how did you come up with those statement/Must include the basis of given steps)
The answer is Mission: “do everything possible to expand human potential.” Vision: This assertion demonstrates that the business does not restrict itself to particular techniques in order to give its consumers the finest that the sports industry has to offer.
What is a business's brief definition?A business is a corporate entity that is recognized by the law as distinct from its owners. It is a sophisticated organizational structure with higher setup and administrative costs due to more reporting duties and more serious legal obligations.
Why do businesses and companies differ from one another?A company may also be called a "business," or vice versa. Any type of business organization can be referred to by this word. However, enterprises only apply to fundamental businesses, not to corporations, which are seen as separate legal entities. One such instance is the lack of a legal personality for a sole proprietorship.
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T/F codes of ethical conduct adopted by businesses and professions often provide for sanctions against individuals who violate the code.
The given statement "codes of ethical conduct adopted by businesses and professions often provide for sanctions against individuals who violate the code" is true. Because these codes typically set out the ethical standards and values that the business or profession expects its members to adhere to.
Violations of the code can lead to disciplinary action, which may include warnings, suspension, or revocation of licenses, depending on the severity of the violation.
The purpose of these codes and the accompanying sanctions is to maintain the integrity and reputation of the business or profession and to ensure that members are held accountable for their conduct. By enforcing ethical standards, businesses and professions can protect the interests of their clients, customers, and stakeholders, and maintain public trust in their operations.
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Under a perpetual inventory system, the cost of goods sold is determined each time a sale occurs.
True od False
The following statement ''Under a perpetual inventory system, the cost of goods sold is determined each time a sale occurs'' is true.
This means that the inventory levels and cost of goods sold are updated continuously throughout the accounting period.
This system provides a more accurate reflection of inventory levels and cost of goods sold at any given time, as opposed to a periodic inventory system, where inventory levels and cost of goods sold are only updated at the end of the accounting period.
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______ is the part of the marketing mix that aims at creating value by providing features and benefits that meet customers' needs.
Product is the part of the marketing mix that aims at creating value by providing features as well as benefits that meet customers' needs.
The product element of the marketing mix includes the design, development, and packaging of goods or services that will be offered to the market. This includes features such as quality, design, functionality, and branding, as well as the benefits that the product or service provides to the customer.
A key aspect of the product element is differentiation, or the process of making a product or service unique in some way to stand out from competitors. By creating a product that meets customers' needs and provides value, businesses can differentiate themselves from their competitors and build customer loyalty.
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limiting a firm's ability to switch back and forth between alternative generally accepted accounting methods is driven by which of the following concepts/principles?
Limiting a firm's ability to switch back and forth between alternative generally accepted accounting methods is driven by Consistency of management process.
What does the management process entail?A sequence of processes known as the management process are utilized to carry out commercial activities. Planning, organizing, staffing, leading, managing, and assessing are all parts of the management process.
What number of management processes exist?The management process' four functions. The four primary management process functions are as follows. The planned, organizing, directing, and controlling stages are what are referred to as these. Each of these phases aids businesses and organizations in carrying out their aims and objectives successfully and efficiently.
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Complete question:
Limiting a firm's ability to switch back and forth between alternative generally accepted accounting methods is driven by which of the following concepts/principles?
ConsistencyConservatismObjectivityMaterialityAfter much consideration, you have chosen Ireland over Spain for your Study Abroad program next year. However, the deadline for your final decision is still months away and you may reverse this decision. Which of the following events would prompt you to reverse this decision?
The marginal benefit of going to Spain increases.
The marginal benefit of going to Spain is increased by events that force you to reverse that decision.
Marginal benefit is the maximum amount a consumer will pay for an additional product or service. Marginal benefit is also the additional satisfaction that the consumer receives from purchasing an additional good or service. Marginal profit usually decreases as consumption increases.
In general, marginal costs rise for each successive unit produced. Therefore, the producer is willing to increase production only if he receives a higher price for the additional units produced.
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suppose the call money rate is 6.8 percent, and you pay a spread of 1.9 percent over that. you buy 1,100 shares at $55 per share with an initial margin of 55 percent. one year later, the stock is selling for $61 per share and you close out your position. what is your return assuming no dividends are paid? (do not round intermediate calculations. enter your answer as a percent rounded to 2 decimal places, e.g., enter 1.23 for 1.23%.)
To calculate the return on this investment, we need to consider several factors, including the initial cost, the amount of borrowed funds, the interest charged on those funds, and the final selling price.
First, let's calculate the initial cost of the investment. Since the investor is purchasing 1,100 shares at $55 per share with a margin of 55%, the total initial cost is:
Initial cost = (1,100 shares x $55 per share) / 0.55 = $121,000
Since the investor is only required to put up 55% of the initial cost as margin, they have borrowed the remaining 45%, or $53,900.
Next, we need to calculate the interest charged on the borrowed funds. The call money rate is 6.8%, and the investor pays a spread of 1.9% over that. Therefore, the interest rate charged on the borrowed funds is:
Interest rate = 6.8% + 1.9% = 8.7%
The interest charged on the borrowed funds for one year is:
Interest charged = $53,900 x 8.7% = $4,683.30
Now, let's calculate the final selling price of the shares. One year later, the stock is selling for $61 per share, so the total selling price is:
Selling price = 1,100 shares x $61 per share = $67,100
The net profit on the investment is the selling price minus the initial cost and interest charged on the borrowed funds:
Net profit = $67,100 - $121,000 - $4,683.30 = -$58,583.30
Since the net profit is negative, the return on this investment is negative as well. The percentage return is calculated by dividing the net profit by the initial cost and expressing the result as a percentage:
Percentage return = (-$58,583.30 / $121,000) x 100% = -48.47%
Therefore, the investor has incurred a negative return of 48.47% on this investment, assuming no dividends were paid. This negative return is primarily due to the high cost of borrowing funds, which significantly outweighed any gains from the increase in the stock price.
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in an ideal scenario, do you believe there were any impurities in the products (aside from water and acetone) of the vacuum filtration method? do you believe there were any impurities in the products of the evaporative collection method?if yes, be sure to state which impurities are in the products and use experimental evidence to support your answer, or use experimental evidence to support why you believe there are no impurities in the products.hint: it may be helpful to determine the phases of each substance at each stage of the reaction. you may find it helpful to refer to section 1.3 in your textbook.
We can see here that it is believable that in the vacuum filtration method, the impurities present in the product can depend on the nature of the starting material and the filtration medium used.
On the other hand, if the filtration medium is not selective, soluble impurities can pass through, leading to a contaminated product. To minimize impurities, it is important to choose a suitable filter medium, wash the product thoroughly, and analyze the purity of the final product.
What is vacuum filtration method?The vacuum filtration method is a laboratory technique used to separate a solid product from a solvent or liquid reaction mixture.
It involves filtering the mixture through a filter paper and a vacuum filtration apparatus, which applies suction to draw the liquid through the filter paper while leaving the solid behind.
Similarly, in the evaporative collection method, the impurities present in the product can depend on the nature of the starting material and the purity of the solvent used.
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the type of production that does not concern itself with customer preferences, but instead focuses on making a large number of a few products is called production.
Instead focuses on making a large number of a few is called mass production. Mass production is the process of producing standardised goods in huge quantities, frequently with the aid of automation or assembly lines.
The efficient creation of several identical products is made possible by mass production. Things that are mass produced are created on a big scale, typically in a factory or plant. Shoes, computers, and automobiles are all mass-produced goods.
Not the well-known chocolate chip cookies your dad makes. Items that are mass produced are uniform, if not identical, to one another. This covers the transportation, furniture, textile, and food sectors. Automobile manufacturers employ mass production to build automobiles on cheap assembly lines using goods high-quality parts.
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FILL IN THE BLANK. Jones Company sells its motors in the United States. Now, it has the opportunity to sell in CHina. This means the cost per motor will ______. decrease
The answer is decrease cost per motor.A company, frequently abbreviated as "co.," is a legal designation for a collection of individuals with a shared objective who may be either natural, legal, or a combination of the two.
A company business may be constituted as a legal entity so that the company itself has limited liability as members fulfil or fail to fulfil their obligations in accordance with the publicly stated incorporation, or published policy. After a business has closed,voluntary groups with a profit motive, such as for-profit businesses, banks, programmes, and nonprofits, as well as educational institutions
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How do you build a beginners portfolio?
Building a beginner's investment portfolio can be a daunting task, but here are some general steps to help you get started:
Set your investment goalDetermine your risk toleranceDiversify your portfolioWhat is beginners portfolio?Set your investment goals: Before investing, it's essential to determine your investment goals, whether it's for long-term growth, short-term gains, or income. It's important to have a clear understanding of your investment objectives to make informed decisions.
Determine your risk tolerance: Investing always comes with risks, and it's important to identify your risk tolerance. Your risk tolerance will determine how much risk you're willing to take with your investments. Generally, investments that offer higher potential returns also come with higher risks.
Lastly, Diversify your portfolio: Diversification is key to managing risk. It means spreading your investments across different asset classes, such as stocks, bonds, and real estate, to minimize the impact of a single asset's poor performance.
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FILL IN THE BLANK. In a market where customers conducer competitors to be very similar, it is important to understand ____, which refers to how customers feel or think about various brands.
Understanding personal selling, which relates to how consumers think or feel about distinct brands, is crucial in a market in which customers tend to perceive competitors as being quite similar.
Of the following, which one involves personal selling?One of the typical types of personal selling is door-to-door sales. Sales representatives knock on prospective customers' doors to promote and offer the products/services. They try to get individuals to buy from them by using their strong interpersonal skills.
What is the purpose of personal selling?Publicity, sales promotion, and advertising can all be supported by personal selling. It eliminates the negative effects of sales promotion and advertising. Personal selling supports the advertising message while advertising raises awareness.
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Under a Utilitarian approach to ethical reasoning a business leader would make a decision that impacts the majority of those affected in a negative way.
Group of answer choices
True
False
The statement given in the question is False.
Under a Utilitarian approach to ethical reasoning a business leader would make a decision that impacts the majority of those affected in a negative way.
Under a Utilitarian approach to ethical reasoning, a business leader would strive to make a decision that maximizes the overall happiness and well-being of the majority of those affected.
Even if it means some individuals may be negatively impacted. The focus is on the net benefit to society as a whole.
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The daily total cost C(x) incurred by Trappee and Sons for producing x cases of TexaPep hot sauce is given by the following function.
C(x) = 0.000002x3 + 9x + 260
Calculate the following for h = 1, 0.1, 0.01, 0.001, and 0.0001. (Round your answers to four decimal places.)
[C(100+h)-C(100)]/h
Use your results to estimate the rate of change of the total cost function when the level of production is 100 cases/day. (Round your answer to two decimal places.)
The rate of change of the total cost function when the level of production is 100 cases/day is 9.06.
What is the fee characteristic given through way of C?The prevalent structure οf the fee characteristic formulation is C(x)=F+V(x) C (x) = F + V (x) the lοcation F is the whole consistent costs, V is the variable cοst, x is the number of units, and C(x) is the complete manufacturing cost.
Cost attribute refers tο the practical relatiοnship between charge and output. It loοkup the behaviοur of rate at gorgeous tiers of output when technological expertise is assumed tο be constant. It can be expressed as below: C= f(Q) (Here, C= Cost of prοduction; and Q= Quantum of output).
The given functiοn is
C(x) = 0.000002x³ + 9x + 260
Calculate the follοwing for h = 1, 0.1, 0.01, 0.001, 0.0001
h = 1
Plugging h = 1
[tex]$\mathrm{ \frac{C(100+h)-C(100)}{h} = }[/tex] [tex]$\mathrm{ \frac{0.000002(100+1)^3+9(100+1)+260-(0.000002(100)^3+9(100)+260)}{1}}[/tex]
= 9.06
In all other cases, Rοunding off two decimal places we will get 9.06
So, the rate of change οf the total cost function when the level of production is 100 cases/day is 9.06.
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e journal entry to close all of a company's expense accounts would include a____ (debit/credit) to each of the expense accounts and a corresponding___ (debit/credit) to the income ____(statement/summary) account.
Answer: credit, debit, summary
Explanation:
just did it
Andre purchased some land ten years ago for $40,000 cash. The property appreciated to $70,000 at which time Andre sold it to his wife Steffi for $70,000 cash, its fair market value.What are the income tax consequences to Andre?
The sale of property from Andre to his wife Steffi for its fair market value is basically implied to a transfer of property between related parties.
What is income tax consequence?The impact of a transaction on income taxes depends on a number of variables, including the nature of the transaction, the type of income earned, and the tax laws that apply to the transaction.
A transfer of property between related persons is regarded as occurring when Andre sells a piece of property to his wife Steffi for its fair market value.
It could be interpreted in this situation as an effort to evade paying taxes on capital gains from the property's appreciation.
As a result, the IRS might consider this transaction to be a gift or a fictitious sale and might impose certain tax regulations on it.
Thus, in this scenario, Steffi's basis in the property would be $40,000 and would replace Andre's original cost basis of $40,000.
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the following december 31, 2021, fiscal year-end account balance information is available for the stonebridge corporation:
The amount of the retained earnings as per the given information is as follows- $86,500.
A fiscal year is a year that the businesses and the governments use for the financial reporting and the budgeting. Fiscal years are most commonly used for accounting purposes to prepare financial statements.
The fiscal year he can start on January 1st and end on December 31st, but not all fiscal years correspond to calendar years. For example, universities often begin and end fiscal years after academic years.
A fiscal year is the 12-month period a company chooses to report its financial information.
Financial reports, external audits, and federal tax returns are based on the company's fiscal year.
Companies may choose to report financial information for off-calendar fiscal years based on the particular nature of their business and earnings cycle.
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Complete question:
The following December 31, 2018, fiscal year-end account balance information is available for the Stonebridge Corporation:
Accounts
$$
Cash and cash equivalent
25,000
Accounts receivable
80,000
Short-term investment
50,000
Property, plant, and equipment (net)
120,000
Accounts payable
44,000
Wages payable
15,000
Utilities payable
10,000
Paid-in-capital
100,000
The only assets not listed is inventory. The only liabilities not listed are $40,000 note payable due in two years and related accrued interest of $2,000 due in four months. The current ratio at year-end is 2.5:1. Which of the following is the amount of retained earnings?
There are three industrial firms in Happy Valley.
Firm Initial Pollution Level Cost of Reducing Pollution by 1 Unit
A 30 units $20
B 40 units $30
C 20 units $10
The government wants to reduce pollution to 60 units, so it gives each firm 20 tradable pollution permits.
Who sells permits and how many do they sell? Who buys permits and how many do they buy? Briefly explain why the sellers and buyers are each willing to do so.
In a tradable permit system, Firm C sells permits to Firms A and B to reduce pollution at a lower cost. Firm C benefits from a lower cost of reducing pollution, while Firms A and B benefit from lower costs of reducing pollution.
In a tradable permit system, Firm C has the lowest initial pollution level and the lowest cost of reducing pollution, so it has a comparative advantage in reducing pollution. It can reduce its pollution to 0 units at a cost of $200 (20 units x $10 per unit). Firm C will have 20 permits remaining, which it can sell to the other two firms.
Firms A and B have higher initial pollution levels and higher costs of reducing pollution, so they will be willing to buy permits from Firm C. Let's say that Firm A buys 10 permits from Firm C and Firm B buys 5 permits from Firm C.
In this case, Firm A can reduce its pollution level to 40 units (30 units initial pollution - 10 permits bought) at a cost of $200 (10 permits bought x $20 per permit). Firm B can reduce its pollution level to 35 units (40 units initial pollution - 5 permits bought) at a cost of $150 (5 permits bought x $30 per permit).
The sellers (Firm C) are willing to sell permits because they can reduce their pollution to zero at a lower cost than the other firms. They can sell their remaining permits to the other firms at a price that is less than the cost of reducing pollution by one unit. This allows Firm C to earn a profit from selling the permits.
The buyers (Firms A and B) are willing to buy permits because it is cheaper for them to buy permits than to reduce pollution by one unit. By buying permits from Firm C, they can reduce their pollution levels at a lower cost than if they had to reduce pollution entirely on their own. In this way, tradable permit systems incentivize firms to reduce pollution in the most cost-effective manner.
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Given the following information, calculate the sales dollars needed to achieve the target profit. Target profit after tax $4,500 Fixed costs $2,000 Contribution margin ratio 40% Tax rate 25% O $16,250 O $30,000 O $21,000 O $20,000 4
$20000 is the sales dollars needed to achieve the target profit.
What is the target profit?
A profit target is a set price at which an investor intends to terminate a trade having made a profit.
Investors and technical traders utilize profit targets as a component of numerous trading systems to control risk, and the profit objective can be set using a variety of methods or standards.
Given -
Fixed cost = $2000
Target profit after tax = $4500
Contribution margin ratio = 40%
tax rate = 25 %
sales dollar = fixed cost +{ target profit after tax/ (1-0.25) }
= 2000 + { 4500 / 0.75 }
= 2000 + 6000
= $ 8000 / 0.40
= $20000
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Select any business organization and make environmental (Internal & External) assessment; determine the critical success factors (Strengths, Weaknesses, Opportunities and Threats) and recommend the organization according to the results of your assessment. Select any business enterprise you want and consider its offerings. Analyze the enterprise’s offerings in terms of customer value hierarchy (levels of product: core benefit, actual product, expected product, augmented product and potential product). Select any real advertising strategy (magazine, newspaper, tv, radio, display) for a given organization. Assess and evaluate the strength and weakness of that ad and recommend the alternative possible solutions to make it perfect and recommend the organization according to the results of your assessment.
You should choose to carry out an internal and external environmental assessment of a company that you identify with, research more about it and explain its strengths and weaknesses, opportunities and threats.
What is SWOT analysis?It is a management tool that helps an organization determine its situation in the internal and external environment, leading to an analysis of strengths, weaknesses, opportunities and threats, expanding its view of the market, its characteristics and values.
Therefore, you can conduct your environmental assessment based on company characteristics such as offerings, customer value, marketing and other characteristics that contribute to your market positioning.
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fill in the blank. A manager who is considering entry to a new market must carefully consider all aspects of the environment as it relates to that market, including any obstacles posed by __________ who already have established relationships with suppliers and customers.
A manager who is considering entry to a new market must carefully consider all aspects of the environment as it relates to that market, including any obstacles posed by competitors.
who already have established relationships with suppliers and customers. A management considering entering a new market must carefully analyze all aspects of the environment, including any difficulties provided by rivals who have already built market connections with suppliers and consumers. Closing entries are used at the end of an accounting period to transfer the balances of temporary accounts (such as revenue, expenses, and dividends) to the permanent Retained Earnings account. This technique ensures that the income and expenditure accounts begin with a zero balance for the following fiscal period.
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estimate the model where a one million increase in sales has the same percentage effect on research and development spending
The percentage of revenue that was generated from R&D expenses in a previous time period, such as the previous year, is referred to as "return on research capital," or simply "RORC."
What percentage of total income is spent on research and development?Using the research and development to sales ratio, businesses in the same sector can compare how well they utilize their R&D resources. By dividing R&D costs by total revenue, it is calculated. On a TTM basis, this was determined.
How do you calculate the investment's return in R&D?The return on research capital measures how much money is earned for every dollar invested in research and development over a specific period of time (usually a year). The amount is calculated by dividing the gross profits for the current year, which are typically shown on the income statement, by the R&D expenses for the prior year.
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The complete question is:
What estimate the model where a one million increase in sales has the same percentage effect on research and development spending?
Give the formulas under the direct method for computing
(a) cash receipts from customers and
(b) cash payments to suppliers.
(a) The direct method formula for calculating cash receipts from clients is: Customers' cash receipts = Sales revenue + Beginning accounts receivable - Ending accounts receivable.
To compute cash receipts from customers, tally up the entire sales revenue for the period and then adjust for any changes in accounts receivable. If accounts receivable grew during the period, it signifies that cash has not yet been collected for all sales, hence the rise in accounts receivable must be deducted. If, on the other hand, accounts receivable declined throughout the time, it signifies that cash was received for more sales than were produced during the period, hence the decrease in accounts receivable must be added.
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Yard Designs (YD) experienced the following events in Year 1, its first year of operation:
On October 1, Year 1, YD collected $20,400 for consulting services it agreed to provide during the coming year.
Adjusted the accounts to reflect the amount of consulting service revenue recognized in Year 1.
Required
Based on this information alone:
a. Record the events under an accounting equation.
b. Prepare an income statement, balance sheet, and statement of cash flows for the Year 1 accounting period.
c. Ignoring all other future events, what is the amount of service revenue that would be recognized in Year 2?
Assets = Liabilities + Stockholders' Equity in the YARD DESIGNS Accounting Equation Event Cash = Retained Earnings + Unearned Revenue Adjusting $20400 to $20400 plus $0 $0 = ($5100) $510
What is meant by a Balance Sheet ?A balance sheet, also referred to as a statement of financial position or a statement of financial condition in financial accounting, is a summary of the financial standing of a person or an organization, whether they are sole proprietors, partners in a business, corporations, private limited companies, or other entities like governments or not-for-profits.
A precise date, such as the conclusion of the company's fiscal year, is used to list the assets, liabilities, and ownership equity. As a "snapshot of a company's financial state," a balance sheet is frequently referred to.
Each and every financial statement of an organization is summarized in it. The balance sheet is the only one of the four fundamental financial statements that pertains to just one point in time on a company's calendar.
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According to the Growth Share Matrix (aka BCG Matrix), ________ are low-growth, low-share businesses and products. They may generate enough cash to maintain themselves but do not promise to be large sources of cash.
O DogsO customerO Question MarkO Butterfly
According to the Growth Share Matrix (aka BCG Matrix), Dogs are low-growth, low-share businesses and products. They may generate enough cash to maintain themselves but do not promise to be large sources of cash. (Option A).
What is Growth Share Matrix?The Growth Share Matrix, also known as the BCG Matrix, is a strategic planning tool that helps businesses evaluate their portfolio of products or business units. It categorizes each product or business unit into one of four categories based on their market growth rate and relative market share.
The four categories are: "Stars", which are high-growth, high-share products; "Cash Cows", which are high-share, low-growth products that generate significant profits; "Question Marks", which are low-share, high-growth products that require investment to increase their market share; and "Dogs", which are low-growth, low-share products that may not generate much profit and could be candidates for divestment. The matrix helps companies to allocate resources and develop strategies for each category based on their market position and potential.
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FILL IN THE BLANK. mass customization is a step beyond a ___ strategy, because although the latter allows for good choice with quick delivery, it does not allow customers unlimited options for features.
Mass customization allows customers to design certain made-to-order product features while keeping costs closer to mass-produced products.
What is the meaning of Mass customization?By maintaining costs that are more in line with those of mass-produced products, mass customization enables a customer to design specific made-to-order characteristics of a product. The product's parts may occasionally be modular. Due to this versatility, the client can combine several alternatives to get a final product that is somewhat unique.
Using adaptable computer-aided systems to create specialized output, mass customization is used in marketing, manufacturing, call center operations, and management. Such systems combine the adaptability of individual customization with the low unit prices of mass production techniques.
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give an example of marketing myopia using a company you perceive to be suffering from this. identify and explain the specific marketing myopia problem in this company, as defined by the levitt article.
Blockbuster is an example of a company that suffered from marketing myopia by focusing too narrowly on its existing business model and failing to adapt to changing market conditions.
Blockbuster's marketing myopia problem was its failure to recognize the shift in consumer behavior towards digital streaming and video-on-demand services.
According to Levitt's article, "Marketing Myopia," companies need to focus on identifying and satisfying customer needs, rather than on their own products and services.
In Blockbuster's case, the company was too focused on its video rental business and failed to recognize the growing demand for digital streaming services.
As a result, Blockbuster lost market share to competitors such as Netflix and Redbox, who were able to capitalize on this emerging trend.
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Sandhill Company from time to time embarks on a research program when a special project seems to offer possibilities. In 2016, the company expends $324,500 on a research project, but by the end of 2016 it is impossible to determine whether any benefit will be derived from it. v (b) The project is completed in 2017, and a successful patent is obtained. The R&D costs to complete the project are $114,500. The administrative and legal expenses incurred in obtaining patent number 472-1001-84 in 2017 total $16,900. The patent has an expected useful life of 5 years. Record these costs in journal entry form. Also, record patent amortization (full year) in 2017. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.) Account Titles and Explanation Debit Credit (To record research and development costs) (To record legal and administrative costs) (To record one year's amortization expense) Attempts: 0 of 5 used SAVE FOR LATER SUBMIT ANSWER
To record research and development costs, debit $324,500 from Research and Development Expense and credit $324,500 from Cash.
What is meant by journal entry?A journal entry is a record of a financial transaction that is entered into the accounting system of a company. It typically includes the transaction date, the accounts involved, the transaction amount, and a brief description of the transaction. Journal entries form the basis of a company's financial records and are used to prepare financial statements, track cash flow, and monitor business performance. They can be done manually in a physical journal or automatically in an accounting software system, and they must be accurate and complete in order for the company's financial records to be reliable and up to date. To keep track of legal and administrative expenses:
Credit Cash for $16,900 Debit Patent Expense for $16,900 To record the amortisation expense for one year: Amortization Expense in the amount of $26,900 ($114,500 / 5 + $16,900) Credit Accumulated Amortization - $26,900 Patent.
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