To earn a profit of at least $4,872, Juniper Enterprises needs to determine the number of units it must sell.
The profit can be calculated as follows: Profit = (Selling Price - Variable Cost) x Number of Units - Fixed Costs In this case, the profit is given as $4,872, the variable cost per clock is $12.60, the selling price per clock is $21.00, and the fixed costs are $5,880. We can rearrange the formula to solve for the number of units: Number of Units = (Profit + Fixed Costs) / (Selling Price - Variable Cost) Plugging in the values: Number of Units = ($4,872 + $5,880) / ($21.00 - $12.60) Number of Units = $10,752 / $8.40 Number of Units ≈ 1,280 Juniper Enterprises must sell at least 1,280 units to earn a profit of at least $4,872.
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(T/F) Online trading is the only valuable investment service available through the Internet.
False. Online trading is not the only valuable investment service available through the internet.
Other valuable investment services available through the internet include robo-advisors, peer-to-peer lending platforms, crowdfunding, real estate investment platforms, and so on.
Robo-advisors: A robo-advisor is an online investment management platform that offers investment advice based on algorithms and data.
Peer-to-peer lending platforms: These are online platforms that connect investors with borrowers directly, bypassing traditional financial institutions such as banks.
Crowdfunding: Crowdfunding is an online platform that enables entrepreneurs, startups, and businesses to raise capital from a large pool of investors.
Real estate investment platforms: These are online platforms that allow investors to invest in real estate properties, such as apartments, commercial buildings, and other types of properties.
So, the correct answer is False. Online trading is not the only valuable investment service available through the internet.
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Assume a par value of $1,000. Caspian Sea plans to issue a 20.00 year, semi-annual pay bond that has a coupon rate of 7.82%. If the yield to maturity for the bond is 8.20%, what will the price of the bond be?
Assume a par value of $1,000. Caspian Sea plans to issue a 10.00 year, semi-annual pay bond that has a coupon rate of 11.00%. If the yield to maturity for the bond is 11.0%, what will the price of the bond be?
the price of the bond in the first scenario is approximately $937.26, and the price of the bond in the second scenario is $1,000.To calculate the price of a bond, we can use the present value formula. The formula takes into account the coupon payments and the final repayment of the par value at maturity.
For the first scenario:
Par Value = $1,000
Maturity = 20.00 years
Coupon Rate = 7.82%
Yield to Maturity = 8.20%
Using the present value formula, we can calculate the price of the bond:
Price = (Coupon Payment / (1 + Yield to Maturity/2)^1 + Coupon Payment / (1 + Yield to Maturity/2)^2 + ... + Coupon Payment / (1 + Yield to Maturity/2)^(2 * n)) + Par Value / (1 + Yield to Maturity/2)^(2 * n)
Plugging in the values:
Price = (39.10 / (1 + 0.0820/2)^1 + 39.10 / (1 + 0.0820/2)^2 + ... + 39.10 / (1 + 0.0820/2)^(40)) + 1000 / (1 + 0.0820/2)^(40)
Using this formula, the price of the bond in the first scenario is approximately $937.26.
For the second scenario:
Par Value = $1,000
Maturity = 10.00 years
Coupon Rate = 11.00%
Yield to Maturity = 11.0%
Using the present value formula again:
Price = (55.00 / (1 + 0.1100/2)^1 + 55.00 / (1 + 0.1100/2)^2 + ... + 55.00 / (1 + 0.1100/2)^(20)) + 1000 / (1 + 0.1100/2)^(20)
Using this formula, the price of the bond in the second scenario is approximately $1,000.
Therefore, the price of the bond in the first scenario is approximately $937.26, and the price of the bond in the second scenario is $1,000.
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Discuss the following statement
The FASB and IASC have been working on conversion, together and standardization; still there are some major differences.
The Financial Accounting Standards Board (FASB) and the International Accounting Standards Committee (IASC) have made significant efforts towards converging and standardizing accounting principles. Their collaboration aims to enhance comparability and transparency in financial reporting across different jurisdictions. Despite these endeavors, significant differences still exist between the two accounting frameworks.
The FASB operates under the Generally Accepted Accounting Principles (GAAP), widely used in the United States, while the IASC's successor, the International Accounting Standards Board (IASB), promulgates the International Financial Reporting Standards (IFRS) followed by many countries globally. Variances in measurement, recognition criteria, and disclosure requirements exist between GAAP and IFRS. Furthermore, differing regulatory environments, cultural contexts, and legal frameworks contribute to disparities in interpretation and implementation. Ongoing efforts to achieve convergence continue, acknowledging the need for harmonization while recognizing the challenges in bridging the remaining gaps.
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Hungry Whale Electronics Company is a mature firm that has a stable flow of business. The following data was taken from its financial statements last year: Hungry Whale's CFO is interested in determining the length of time funds are tied up in working capital. Use the information in the preceding table to complete the following table. (Note: Use 365 days as the length of a year in all calculations, and round all values to two decimal places.) Both the inventory conversion period and payables deferral period use the average daily COGS in their denominators, whereas the average collection period uses average daily sales in its denominator. Why do these measures use different inputs? Current assets should be divided by sales, but current liabilities should be divided by the COGS. Inventory and accounts payable are carried at cost on the balance sheet, whereas accounts receivable are the which goods are sold. Is there generally a positive or negative relationship between net working capital and the cash conversion cycle? (In other words, if a firm has a high level of net working capital, is it likely to have a high or low cash conversion cycle?) There is a positive relationship between net working capital and the cash conversion cycle. There is a negative relationship between net working capital and the cash conversion cycle. What are the four key factors in a firm's credit policy? Credit terms, discounts, credit standards, and collection policy Credit period, discounts, credit standards, and collection policy If the credit terms as published by a firm were 2/15, net 60 , this means the firm will: allow a 15% discount if payment is received within 2 days of the purchase, and if the discount is not taken the full amount is 60 days. allow a 2% discount if payment is received within 15 days of the purchase, and if the discount is not taken the full amount is 60 days. The management at Hungry Whale Electronics Company wants to continue its internal discussions related to its cash manageme of the finance team members presents the following case to his cohorts: Case in Discussion Hungry Whale Electronics Company's management plans to finance its operations with bank loans that will be repaid as soon as is available. The company's management expects that it will take 50 days to manufacture and sell its products and 40 days to receive payment from its customers. Hungry Whale's CFO has told the rest of the management team that they should expect the length of the Which of the following responses to the CFO's statement is most accurate? The CFO's approximation of the length of the bank loans should be accurate, because it will take 90 days for the company to manufacture, sell, and collect cash for its goods. All these things must occur for the company to be able to repay its loans from the bank. The CFO is not taking into account the amount of time the company has to pay its suppliers. Generally, there is a certain length of time between the purchase of materials and labor and the payment of cash for them. The CFO can reduce the estimated length of the bank loan by this amount of time. Setting and implementing a credit policy is important for three main reasons: It has a minor effect on sales, it influences the amount of funds tied up in receivables, and it affects bad debt losses. It has a major effect on sales, it influences the amount of funds tied up in receivables, and it affects bad debt losses.
The inventory conversion period and payables deferral period use the average daily COGS in their denominators, whereas the average collection period uses average daily sales in its denominator because inventory and accounts payable are carried at cost on the balance sheet, whereas accounts receivable are the goods that are sold. There is a positive relationship between net working capital and the cash conversion cycle. If the credit terms as published by a firm were 2/15, net 60, it means the firm will allow a 2% discount if payment is received within 15 days of the purchase, and if the discount is not taken the full amount is 60 days. The CFO is not taking into account the amount of time the company has to pay its suppliers. Generally, there is a certain length of time between the purchase of materials and labor and the payment of cash for them.
Inventory conversion period and payables deferral period use the average daily COGS in their denominators, whereas the average collection period uses average daily sales in its denominator because inventory and accounts payable are carried at cost on the balance sheet, whereas accounts receivable are the goods that are sold.Net working capital (NWC) is the difference between a company's current assets and current liabilities. The cash conversion cycle (CCC) measures how long a firm takes to convert its investments in inventory and other resources into cash flow. There is a positive relationship between net working capital and the cash conversion cycle.If the credit terms as published by a firm were 2/15, net 60, it means the firm will allow a 2% discount if payment is received within 15 days of the purchase, and if the discount is not taken the full amount is 60 days.The CFO is not taking into account the amount of time the company has to pay its suppliers. Generally, there is a certain length of time between the purchase of materials and labor and the payment of cash for them.
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This is a graded discussion: 10 points possible Week-4 Discussion, How to account for Inventory? A+ How do companies account for their respective inventories? Find any company on the NYSE and explain their inventory, if any.
Companies account for their inventories by following generally accepted accounting principles (GAAP) and specific accounting standards such as the International Financial Reporting Standards (IFRS) or the Generally Accepted Accounting Principles (GAAP) in the United States.
The specific methods and principles used for inventory accounting can vary based on the nature of the inventory and the industry in which the company operates.
To illustrate how a company accounts for its inventory, let's take the example of Walmart Inc. (NYSE: WMT), a multinational retail corporation. Walmart operates in the retail industry and sells a wide range of products across various categories.
Walmart accounts for its inventory using the perpetual inventory system. Under this system, the company continuously updates its inventory records to reflect the quantity and value of inventory items. Walmart utilizes barcodes and sophisticated inventory management systems to track its inventory in real-time.
Walmart values its inventory at the lower of cost or net realizable value (NRV) using the weighted average cost method. This method calculates the cost of inventory by averaging the cost of all similar items available for sale during a specific period. It helps ensure that inventory is not overstated on the financial statements.
Walmart's inventory includes various categories of products, such as groceries, apparel, electronics, household goods, and more. The company's inventory turnover ratio, which measures how efficiently inventory is managed, is an important metric for its financial analysis.
In summary, companies like Walmart account for their inventories by using specific accounting methods, such as the perpetual inventory system and the weighted average cost method. The choice of inventory accounting methods depends on the nature of the inventory and the industry in which the company operates.
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If a firm is a monopsonist, then it faces
a. a downward sloping demand curve for its product, and its marginal revenue curve will lie below its demand curve.
b. a horizontal marginal factor cost curve.
c. an upward sloping factor supply curve, and its marginal factor cost curve will lie above the factor supply curve.
d. an upward sloping factor supply curve, and its marginal factor cost curve will coincide with the factor supply curve.
e. an upward-sloping factor supply curve, and its marginal factor cost curve will lie below the factor supply curve.
The correct answer is:
c. an upward sloping factor supply curve, and its marginal factor cost curve will lie above the factor supply curve.
Explanation:
A monopsonist is a single buyer or employer in a market where there are multiple sellers or workers. As a monopsonist, the firm has market power and can influence the price or wage it pays for the factors of production (such as labor).
In the case of a monopsonist, the factor supply curve (the supply of the factor of production) is upward sloping. This means that as the firm increases the quantity of the factor it wants to hire, the price or wage it needs to pay for each unit of the factor also increases. This is because as the firm hires more units of the factor, it faces diminishing marginal returns, and it must offer higher wages or prices to attract additional units.
The marginal factor cost curve represents the additional cost incurred by the firm to hire an additional unit of the factor. In the case of a monopsonist, the marginal factor cost curve lies above the factor supply curve. This is because the firm must pay a higher price or wage to attract additional units of the factor, resulting in a higher marginal cost.
Therefore, option c is the correct statement that describes the characteristics of a firm operating as a monopsonist.
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Discuss the necessity of adopting an ""all hazards plan"".
An "all hazards plan" is a comprehensive approach to emergency preparedness that addresses a wide range of potential hazards and threats that an organization may face.
It involves developing strategies, protocols, and resources to mitigate, respond to, and recover from various types of emergencies or disasters, regardless of their specific nature.
Here are the reasons why adopting an all hazards plan is necessary:
Comprehensive Preparedness: An all hazards plan ensures that an organization is prepared for a broad spectrum of emergencies, including natural disasters (e.g., hurricanes, earthquakes), technological accidents, public health crises, acts of terrorism, cyber-attacks, and other unforeseen events.
By considering multiple scenarios, the plan enables a more proactive and holistic approach to emergency preparedness.
Flexibility and Adaptability: Rather than creating separate plans for each specific hazard, an all hazards plan provides a flexible framework that can be adapted to different situations.
It allows organizations to leverage common resources, procedures, and training, making it easier to respond effectively to a variety of emergencies. This approach saves time and resources by avoiding the need to create and maintain multiple specialized plans.Improved Efficiency: Adopting an all hazards plan promotes efficiency by streamlining emergency preparedness efforts.
Rather than duplicating processes and resources for different hazards, organizations can develop standardized protocols and allocate resources more effectively. This approach also enables better coordination and communication among different departments, agencies, and stakeholders involved in emergency response and recovery.Reduced Complacency: Focusing on an all hazards approach helps organizations avoid complacency.
By recognizing that emergencies can arise from various sources, organizations are more likely to remain vigilant, continuously assess risks, and update their preparedness plans accordingly. This mindset promotes a culture of preparedness and ensures that organizations are not caught off guard by unexpected events.Enhanced Resilience: An all hazards plan contributes to the resilience of an organization.In summary, adopting an all hazards plan is necessary for organizations to effectively prepare for and respond to a wide range of emergencies and disasters. By taking a comprehensive approach, organizations can enhance their preparedness, efficiency, flexibility, and resilience, ultimately safeguarding their employees, assets, and operations in the face of various hazards.
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[LO3] At The End Of June, Rena Falcone Decided To Open Her Own Bookkeeping Service Called By The Numbers. Analyze The Following Transactions She Completed By Recording Their Effects In The Expanded Accounting Equation. Keep A Running Balance. A. Invested $40,000 In Her Bookkeeping Service. B. Bought New Computer Equipment On Account,
1A-3. (20 minutes) [LO3] At the end of June, Rena Falcone decided to open her own bookkeeping service called By the Numbers. Analyze the following transactions she completed by recording their effects in the expanded accounting equation. Keep a running balance.
A. Invested $40,000 in her bookkeeping service.
B. Bought new computer equipment on account, $6,500.
C. Received cash for bookkeeping services rendered, $1,300.
D. Performed bookkeeping services on account, $2,200.
E. Paid assistant’s salary, $325.
F. Paid office supplies expense for the month, $220.
G. Rent expenses for office due but unpaid, $800.
H. Withdrew cash for personal use, $300.
Answer:
Transaction A
We will record this transaction by using the Accounting Equation.
Assets = Liabilities + Owner’s Equity
Cash (Asset) increases by $40,000, and Owner's Equity increases by $40,000.
Transaction B
Assets = Liabilities + Owner’s Equity
Computer Equipment (Asset) increases by $6,500, and Accounts Payable (Liability) increases by $6,500.
Transaction C
Assets = Liabilities + Owner’s Equity
Received cash for bookkeeping services rendered, $1,300, which increases the asset cash.
Cash (Asset) increases by $1,300.
Transaction D
Assets = Liabilities + Owner’s Equity
Performed bookkeeping services on account, $2,200, which increases the asset account receivable.
Accounts Receivable (Asset) increases by $2,200.
Transaction E
Assets = Liabilities + Owner’s Equity
Paid assistant’s salary, $325, which decreases the asset cash.
Cash (Asset) decreases by $325.
Transaction F
Assets = Liabilities + Owner’s Equity
Paid office supplies expense for the month, $220, which decreases the asset cash.
Cash (Asset) decreases by $220.
Transaction G
We will record this transaction by using the Accounting Equation.
Assets = Liabilities + Owner’s Equity
Accounts Payable (Liability) increases by $800.
Transaction H
We will record this transaction by using the Accounting Equation.
Assets = Liabilities + Owner’s Equity
Cash (Asset) decreases by $300, and Owner's Equity decreases by $300.
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Provide three examples of prohibited grounds for discrimination in employment in Canadian jurisdictions
Provide one example of where the employer can legally discriminate based on Bona Fide Occupational Requirements (BFOR)
Prohibited grounds for employment discrimination in Canadian jurisdictions include race/ethnicity, gender, and disability.
In Canadian jurisdictions, there are several prohibited grounds for discrimination in employment.
The 3-examples are :
(i) Race or Ethnicity: Discrimination based on a person's race, ethnicity, or ethnic origin is strictly prohibited in employment. Employers cannot make decisions regarding hiring, promotion, termination, or any other employment-related matter based on an individual's racial or ethnic background.
(ii) Gender : Discrimination based on gender , including discrimination against women, men, or individuals who identify as non-binary, is prohibited.
(iii) Disability: Discrimination against individuals with disabilities is strictly prohibited in employment.
These examples highlight a few of the prohibited grounds for discrimination in employment in Canadian jurisdictions.
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The given question is incomplete, the complete question is
Provide three examples of prohibited grounds for discrimination in employment in Canadian jurisdictions.
a) An increase in the minimum wage from RM1200 to RM1500 will have a positive impact on the cost of living of Malaysians. Yes or No. Explain your point of view.
b) The implementation of the minimum wage has a significant impact on the labor market in Malaysia. By using the appropriate diagram show and explain your answer based on the Classical viewpoint.
c) Show and explain the effect of sending foreign labor to the country of origin on the domestic labor market.
d) In the Classical analysis the aggregate output level is not directly sensitive to the general price level. This is because of the flexibility in money wage. Based on the analysis of 4 quadrants, show and explain how this exists.
Increase in minimum wage and its impact on cost of living Minimum wage is the lowest amount of compensation that employees must receive from their employers.
The implementation of the minimum wage policy in Malaysia has a significant impact on the cost of living. An increase in minimum wage from RM1200 to RM1500 will have a positive impact on the cost of living of Malaysians. The increase in minimum wage will benefit workers and provide them with more money to spend on their basic needs.
Additionally, the minimum wage increase may provide businesses with a competitive edge by attracting more employees. The higher minimum wage may help firms attract more skilled and talented employees to their workforce which, in turn, may help increase productivity.
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n the short run, a tool manufacturer has a fixed amount of capital. Labor is a variable input. The cost and output structure that the firm faces is depicted in the following table.
Labor supplied Total Physical Hourly Wage Total Wage Marginal
Factor
Product Rate $ Cost Cost
---------------------- ----------------------------- ------------------ ------------- ------------------
10 100 5 ? _____
11 109 7 ? ?
12 116 9 ? ?
13 121 11 ? ?
14 124 13 ? ?
15 125 15 ? ?
A). Derive at each level of labor supplied, the firm's total wage costs. (Enter numeric responses in the table above real number).
B). Derive, at each level of labor supplied, the firm's marginal factor cost.
To derive the firm's total wage costs at each level of labor supplied, we can use the formula: Total Wage Cost = Total Physical Product * Hourly Wage Rate.
Using this formula, we can fill in the table as follows:
Labor supplied Total Physical Product Hourly Wage Rate Total Wage Cost Marginal Factor Cost
10 100 5 500 -
11 109 7 763 263
12 116 9 1044 281
13 121 11 1331 287
14 124 13 1612 281
15 125 15 1875 263
To calculate the total wage cost, we multiply the total physical product by the hourly wage rate. For example, at a labor supply of 10, the total wage cost is 100 * 5 = 500.
To derive the marginal factor cost, we can calculate the change in total wage cost as labor supply increases by one unit. For example, at a labor supply of 11, the marginal factor cost is 763 - 500 = 263.
By applying this calculation for each level of labor supplied, we can complete the table.
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A manager of a popular retail store knows that the distribution of purchase amounts by its customers is approximately normal with a mean of $28 and a standard deviation of $9.
a. What is the probability that a randomly selected customer will spend less than $15?
["1.96", "0.125", "0.025", "0.074"]
b. What is the probability that a randomly selected customer will spend $20 or more?
["0.95", "0.5", "0.133", "0.813"]
c. What is the probability that a randomly selected customer will spend $28 or more?
["0.9", "0.5", "0.43", "0.10"]
The distribution of purchase amounts by customers of a popular retail store is approximately normal with a mean of $28 and a standard deviation of $9.The probability that a randomly selected customer will spend less than $15 is 0.025.
The probability that a randomly selected customer will spend $20 or more is 0.813.The probability that a randomly selected customer will spend $28 or more is 0.50. Given, Mean (μ) = $28 Standard deviation (σ) = $9We need to find the probability that a randomly selected customer will spend less than $15.So, the z-score can be calculated as follows: z = (x - μ) / σ = (15 - 28) / 9 = -1.44Using the standard normal distribution table, the probability corresponding to a z-score of -1.44 is 0.074. Therefore, the probability that a randomly selected customer will spend less than $15 is 0.074 or 0.07 (rounded off to two decimal places). Hence, option b. ["0.9", "0.5", "0.43", "0.10"] is the correct answer.
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How is undue influence different from duress?
A. While contracts resulting from undue influence are void, contracts resulting from duress are valid.
B. Duress is a much more visible and active interference with free will than is undue influence.
C. Undue influence does not involve a dominant-subservient relationship, whereas it is an essential element in duress.
D While undue influence results in aleatory contracts, duress results in adhesion contracts.
B. Duress is a much more visible and active interference with free will than is undue influence.
Undue influence and duress are both concepts related to the formation of contracts and the presence of coercion or improper influence. However, they differ in their nature and characteristics. Option B correctly states that duress involves a more visible and active interference with free will compared to undue influence.
To further clarify the differences:
A. Contracts resulting from undue influence are not necessarily void, but they may be voidable. Contracts resulting from duress can be voidable or void, depending on the severity of the coercion.
C. Undue influence often involves a dominant-submissive relationship, where one party exerts influence over another to the extent that the influenced party's free will is compromised. Duress does not necessarily require a dominant-submissive relationship and can occur through threats or coercion.
D. Neither undue influence nor duress result in specific types of contracts. Aleatory contracts are those where the performance of one or both parties depends on an uncertain event, while adhesion contracts are standard-form contracts with non-negotiable terms typically offered by a party with superior bargaining power. The type of contract formed is not directly determined by undue influence or duress.
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You work in a mining company as supply chain analyst, your boss got higher pressure from the
director of board to identify the issues in supply chain (see below summary), it is urgent to get this
solved as soon as possible. He requested you to collect the information and provide him the
better solution. (70 points)
Your company has 3 locations, you found out that accounting paid all invoices from
suppliers who claimed to have supplied a remote location even when no confirmation of
orders, deliveries, or receipts was available. This occurred in about one-third of all
invoices. The accountant explained: "Getting suppliers to provide odd requirements in a
hurry and to get bush pilots to fly them in is a constant hassle. The last thing we want to
do is lose the goodwill of these suppliers because we don't have our records.
Communication between actual sites and suppliers occurred in two main ways. Since site
leaders were in regular contact with head office personnel, they frequently asked the
head office contacts to place specific orders for them. In addition, it was common for
remote site personnel to contact suppliers directly and place orders.
The interesting thing you discovered 20 instances of multiple deliveries of the same item
within days to the same site from different suppliers and 10 instances of multiple
deliveries of the same item from the same supplier within a few days. There were 11
instances where the airfreight bill was at least 10 times higher than the value of the item
transported.
Question: Consider the current processes and operating environment, identify the main issues or
concerns from a supply (purchasing) perspective? what would be the steps you would take in your
upcoming meeting with your boss. What recommendation you will apply to the issue for short-
and long-term objectives.
1. The main issues or concerns from a supply chain (purchasing) perspective are:
1) Paying invoices without confirmation of orders, deliveries, or receipts,
2) Communication issues between actual sites and suppliers, and
3) Multiple deliveries of the same item within days to the same site from different suppliers, multiple deliveries of the same item from the same supplier within a few days, and high airfreight bills.
2. In the upcoming meeting with your boss, the following steps should be taken:
1. Present the data collected from the analysis of the supply chain, which includes the issues or concerns identified from a purchasing perspective.
2. Discuss the short-term and long-term objectives to be achieved for resolving these issues.
3. Provide possible recommendations to address these issues.
3. The following recommendations could be applied for short- and long-term objectives:
Short-term objectives:
1. Implement a system of verifying and reconciling invoices with purchase orders, deliveries, and receipts before payment is made.
2. Establish a system of communication between the actual sites and suppliers that involves site personnel placing orders directly with suppliers and providing relevant documentation to account for processing.
Long-term objectives:
1. Develop a central procurement system for the mining company to standardize the procurement process across all sites.
2. Provide training to all site personnel on the procurement process and procurement policies to ensure compliance.
3. Implement a vendor management program to evaluate the performance of suppliers and manage supplier relationships.
4. Establish a system of auditing invoices, deliveries, and receipts to ensure compliance with procurement policies and procedures.
The above recommendations will help the company to improve its supply chain operations and ensure that the issues and concerns identified are resolved for long-term success.
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You own 320 shares of stock in Halestorm, Incorporated, that currently sells for $84.55 per share. The company has announced a dividend of $3.75 per share with an ex-dividend date of February 4. Assuming no taxes, what is the value of the stock on February 4? Multiple Choice $88.30 $82.67 $84.55 $80.80 $79.75
The answer to the problem is $80.80.The date set by a company that determines whether shareholders will be eligible to receive dividends is known as the ex-dividend date.
To qualify for the dividend, an investor must own the stock before the ex-dividend date; if they purchase the stock on or after the ex-dividend date, they will not receive the dividend.
The ex-dividend date is set a few days before the company's dividend payment date to ensure that the dividend payments are made only to shareholders who own the stock and hold it in their accounts. Dividends are commonly paid quarterly or semi-annually, depending on the company's dividend policy.
The value of the stock on February 4 can be calculated by the following steps:To begin, calculate the total dividend payout by multiplying the dividend per share by the number of shares you own.320 shares x $3.75 per share = $1,200 in total dividend payout.
Then divide the total dividend payout by the current stock price to determine the dividend yield. $1,200 / $84.55 per share = 14.19% dividend yieldSubtract the dividend payout from the current stock price to determine the ex-dividend stock price. $84.55 - $3.75 = $80.80.Therefore, the value of the stock on February 4 is $80.80.
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kolonas, inc., sold equipment for cash. the equipment cost and had accumulated depreciation through the date of sale of . at the date of sale, the journal entry to record the sale will have:
The journal entry to record the sale of equipment by Kolonas, Inc.:
When equipment is sold, the journal entry should reflect the cash received and the impact on the equipment and accumulated depreciation accounts.
Here's a breakdown of the journal entry components:
1. Debit: Cash - This account is debited to record the cash received from the sale of the equipment. The amount debited should reflect the actual cash received from the buyer.
2. Credit: Accumulated Depreciation - Accumulated Depreciation is a contra-asset account that represents the cumulative depreciation expense recorded on the equipment over its useful life. To remove the accumulated depreciation related to the equipment, this account is credited.
The amount credited to Accumulated Depreciation should be the total accumulated depreciation on the equipment up to the date of sale. This information can be obtained from the company's depreciation records.
3. Credit: Equipment - The Equipment account is credited to remove the carrying value of the equipment from the books. The carrying value of the equipment is the original cost of the equipment minus its accumulated depreciation.
The amount credited to the Equipment account should reflect the carrying value of the equipment at the date of sale. It can be calculated as the original cost of the equipment minus the accumulated depreciation.
Here's an example of a journal entry to record the sale of equipment:
Date Account Debit Credit
-------------------------------------------------------------------------------
[Date] Cash [Cash received]
Accumulated Depreciation [Accumulated depreciation amount]
Equipment [Carrying value of equipment]
Ensure that the amounts recorded in the journal entry are accurate based on the specific details of the sale, including the cash received, accumulated depreciation, and carrying value of the equipment. Additionally, consider any additional accounts or entries that may be necessary, such as gains or losses on the disposal of the equipment or tax implications.
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Mistery Inc. has 3 million shares of stock outstanding that sell for €99 per share.
Imagine there are no taxes, what will be the price per share and the new number of shares outstanding after:
A five-for-three stock split?
A 20 percent stock dividend?
A three-for-seven reverse stock split?
Una división de acciones cinco por tres aumenta la cantidad de acciones en circulación y disminuye el precio por acción, mientras que un dividendo del veinte por ciento aumenta el número de acciones en circulación sin afectar el precio por acción. Una división inversa de tres por siete aumenta el precio por acción y disminuye el número de acciones en circulación.
Una división de acciones cinco por tres aumentaría la cantidad de acciones en circulación y disminuiría el precio por acción. En este caso, la cantidad de acciones exentas nueva sería de 3 millones * 5 / 3 = 5 millones de acciones, y el precio por acción sería de €99 / (5/3) = €59.40 por acción.Un dividendo de veinte por ciento de las acciones aumentaría el número de acciones en circulación sin afectar el precio por acción. El nuevo número de acciones disponibles sería de 3 millones más (3 millones * 20%) = 3.6 millones de acciones, y el precio por acción seguiría siendo de €99 por acción.Una división inversa de tres por siete de acciones tendría un aumento en el precio por acción y una disminución en el número de acciones en circulación.
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Most marketing experts contend that the greatest marketing mistake small businesses make is:
A) failing to identify the target market.
B) spending too little on advertising.
C) underpricing their products and services.
D) spending too little on quality improvement.
Therefore, the correct option is D. The greatest marketing mistake small businesses make is spending too little on quality improvement.
This is because, in today's era, customers are looking for quality products and services at an affordable price. Therefore, if small businesses don't focus on improving the quality of their products and services, then customers may switch to other brands that offer better quality at the same price. A small business can start by setting quality goals that are specific, measurable, attainable, relevant, and time bound. Quality goals could be achieved by monitoring and improving processes, training staff, or by upgrading machinery.
The small businesses can also conduct surveys to gather customer feedback and then make changes accordingly. Quality improvement requires investment, but in the long run, it pays off by building brand loyalty and attracting new customers. Thus, small businesses must focus on improving their product or service quality, which will lead to an increase in sales and revenue.
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According to the Leadership Grid (The Managerial Grid),opportunism describes leaders who use any combination of the basic five styles (of the Leadership Grid) for the purpose of personal advancement. O True O False
True. According to the Leadership Grid, opportunism refers to leaders who use any combination of the basic five styles (Concern for Production, Concern for People, Impoverished Style, Authority-Compliance Style, and Team Style) solely for their personal gain or advancement.
The Leadership Grid, also known as the Managerial Grid, is a model that assesses leadership styles based on two dimensions: concern for production and concern for people. It categorizes leadership styles into five main categories:
1. Concern for Production (Task-Oriented): Leaders with a high concern for production focus primarily on achieving tasks, meeting goals, and maximizing efficiency. They prioritize getting the job done efficiently, often at the expense of interpersonal relationships.
2. Concern for People (Relationship-Oriented): Leaders with a high concern for people prioritize the well-being, satisfaction, and development of their team members. They focus on building strong relationships, promoting teamwork, and ensuring a supportive work environment.
3. Impoverished Style (Low Concern for Production and People): Leaders with a low concern for production and people exhibit minimal effort and involvement in both task accomplishment and team relationships. They may adopt a "do the minimum required" approach, resulting in a lack of direction and motivation.
4. Authority-Compliance Style (High Concern for Production, Low Concern for People): Leaders with an authority-compliance style emphasize efficiency, productivity, and meeting targets. They tend to be task-oriented and enforce strict rules and procedures, with little consideration for individual needs or opinions.
5. Team Style (High Concern for Production and People): Leaders with a team style strive to achieve high levels of both production and team member satisfaction. They emphasize collaboration, participation, and involvement, seeking to create a positive work environment where productivity and morale are both high.
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What do you think are the best design elements in an existing professional sport arena or stadium?
Focus on technology rather than on larger seats or better access to food. look at the cost–benefit analysis of each option and whether the suggestions are truly practical from a financial perspective.
The best design elements in an existing professional sport arena or stadium can vary based on personal preferences and the specific needs of the venue best design.
However, there are several key design elements that are often praised in modern sports arenas and stadiums. Some of these elements include: Fan Experience: The best venues prioritize the fan experience by providing comfortable seating, unobstructed views of the action, and easy access to amenities such as concessions, restrooms, and merchandise shops. professional They also focus on creating an immersive and energetic atmosphere through features like state-of-the-art sound systems, large video screens, and enthusiastic crowd engagement. sport arena Architectural Design: A visually appealing and iconic architectural design can make a stadium stand out and become a recognizable landmark. Unique shapes, innovative use of materials, and integration with the surrounding environment can enhance the overall aesthetic appeal of the venue. Accessibility and Circulation.
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(Break-even point and selling price) Simple Metal Works, Inc. will manufacture and sell 190,000 units next year. Fixed costs will total $260,000, and variable costs will be 45 percent of sales. a. The firm wants to achieve a level of earnings before interest and taxes of $290,000. What selling price per unit is necessary to achieve this result? b. Set up an analytical income statement to verify your solution to part (a). a. What selling price per unit is necessary to achieve a level of earnings before interest and taxes of $290,000? $ (Round to three decimal places.) b. Set up the following analytical income statement to verify your solution to part (a). (Round up all items to the nearest dollar.) Sales Less: Variable costs (45% of sales) Revenues before fixed costs Less: Fixed costs 290,000 EBIT ____ $
a. The selling price per unit necessary to achieve a level of earnings before interest and taxes (EBIT) of $290,000 is $3.474. b. The analytical income statement to verify the solution to part (a) is as follows:
Sales: $660,060, Less: Variable costs (45% of sales): $297,027, Revenues before fixed costs: $363,033, Less: Fixed costs: $260,000, EBIT: $103,033.
a. To determine the selling price per unit, we need to consider the total fixed costs, variable costs as a percentage of sales, and the desired level of EBIT.
The fixed costs are given as $260,000, and the variable costs are 45% of sales. This means that variable costs as a percentage of sales can be expressed as 0.45. The desired level of EBIT is $290,000.
Using the formula for contribution margin per unit, which is the difference between the selling price per unit and variable cost per unit, we can calculate the selling price per unit as follows:
Selling price per unit - Variable cost per unit = Contribution margin per unit
Let's denote the selling price per unit as "P" and the variable cost per unit as "0.45P" (since variable costs are 45% of sales). The contribution margin per unit is then given by:
P - 0.45P = 0.55P
We know that the contribution margin per unit needs to cover the fixed costs and contribute to the desired EBIT. Therefore, we can set up the equation:
0.55P * 190,000 - $260,000 = $290,000
Simplifying the equation, we get:
104,500P = $550,000
Solving for P, we find:
P = $550,000 / 104,500 ≈ $3.474
Therefore, the selling price per unit necessary to achieve a level of EBIT of $290,000 is approximately $3.474 per unit.
b. Analytical income statement:
Sales: 190,000 units × $3.474 per unit = $660,060
Less: Variable costs (45% of sales): 0.45 × $660,060 = $297,027
Revenues before fixed costs: $660,060 - $297,027 = $363,033
Less: Fixed costs: $260,000
EBIT (Earnings Before Interest and Taxes): $363,033 - $260,000 = $103,033
Therefore, the analytical income statement to verify the solution to part (a) is as follows:
Sales: $660,060
Less: Variable costs (45% of sales): $297,027
Revenues before fixed costs: $363,033
Less: Fixed costs: $260,000
EBIT: $103,033
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Opening capital accounts partner contributes cash $50 and land with FMV of $200
the partner contributed $50 in cash and land with a fair market value (FMV) of $200 to the opening capital accounts.
When a partner contributes assets to a partnership, their capital account is credited with the value of the assets contributed. In this case, the partner contributed $50 in cash, so their capital account is credited with $50. Additionally, the partner contributed land with an FMV of $200, so their capital account is credited with $200. These contributions increase the partner's capital in the partnership and are recorded in the opening capital accounts.
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Souhem Fried Chicken bought equipment on January 2, 2024, for $21.000 The equipment was expected to remain in service for four years and to operate for 6,000 hours. At the end of the equipments useful life, Souther estimates that its residual value will be $3.000 The equipment operated for 600 hours the first year, 1,800 hours the second year, 2.400 hours the third year, and 1,200 hours the fourth year Read the INDE Requirement 1. Prepare a schedule of depreciation expense accumulated depreciation, and book value per year for the equipment under the three depreciation methods straight line units-of-production and double-dedining balance Show your computations Note Three depreciation schedules must be prepared Begin by preparing a depreciation schedule using the straight line method Straight Line Depreciation Schedule Date 122024 12-31-2014 12-31-2025 12-31-212 333 Asset Cost Depreciation for the Year Usebil Life Depreciable Cost Depreciation Accumulated Book Expense Depreciation Valur Before calculating the units of production depreciation schedule, calculate the depreciation expersa per unit Select the formula, then enter the amounts and calculate the depreciation expense per unit Depreciation per unit Prepare a depreciation schedule using the units of production method Units-of-Production Depreciation Schedule Date 1-2-2024 12-31-2024 12-31-2025 12-31-2026 12-31-2027 Depreciation for the Year Number of Units Asset Depreciation Cost Per Unit 16 Depreciation Accumulated Book Expense Depreciation Value Double-Declining-Balance Depreciation Schedule Date 1-2-2024 12-31-2024 12-31-2025 12-31-2026 12-31-2027 Asset Cost The Book Value Depreciation for the Year DDB Rate Depreciation Accumulated Book Expense Depreciation Value Requirement 2. Which method tracks the wear and tear on the equipment most closely? method tracks wear and tear most closely
To calculate the depreciation expense, accumulated depreciation, and book value per year for the equipment under three depreciation methods (straight line, units-of-production, and double-declining balance), we will use the given information.
Straight Line Depreciation Method:
The formula to calculate straight-line depreciation expense is:
Depreciation Expense = (Asset Cost - Residual Value) / Useful Life
Date | Asset Cost | Depreciation Expense | Accumulated Depreciation | Book Value
01-02-2024 | $21,000 | - | - | $21,000
12-31-2024 | - | $4,500 | $4,500 | $16,500
12-31-2025 | - | $4,500 | $9,000 | $12,000
12-31-2026 | - | $4,500 | $13,500 | $7,500
12-31-2027 | - | $4,500 | $18,000 | $3,000
Units-of-Production Depreciation Method:
To calculate the depreciation per unit, divide the depreciable cost by the total estimated production units.
Depreciation per unit = (Asset Cost - Residual Value) / Total Estimated Production Units
Depreciation Expense = Depreciation per unit * Actual Production Units
Date | Asset Cost | Depreciation Expense | Accumulated Depreciation | Book Value
01-02-2024 | $21,000 | - | - | $21,000
12-31-2024 | - | $6,000 | $6,000 | $15,000
12-31-2025 | - | $12,000 | $18,000 | $3,000
12-31-2026 | - | $8,000 | $26,000 | -$5,000 (fully depreciated)
12-31-2027 | - | - | $26,000 | -$5,000 (fully depreciated)
Double-Declining Balance Depreciation Method:
The double-declining balance depreciation rate is twice the straight line depreciation rate.
Depreciation Expense = Book Value * DDB Rate
DDB Rate = 1 / Useful Life
Date | Asset Cost | Depreciation Expense | Accumulated Depreciation | Book Value
01-02-2024 | $21,000 | - | - | $21,000
12-31-2024 | - | $10,500 | $10,500 | $10,500
12-31-2025 | - | $5,250 | $15,750 | $5,250
12-31-2026 | - | $2,625 | $18,375 | $2,625
12-31-2027 | - | $2,625 | $21,000 | $0 (fully depreciated)
Requirement 2. The units-of-production depreciation method tracks
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Molly Martin, the owner of Smart Consulting, withdrew $2,000 cash from the company for personal use. Identify the general journal entry below that Smart Consulting will make to record the transaction.
A) Account Title Debit Credit
M. Martin, Withdrawals 2,000 Cash 2,000
B) Account Title Debit Credit
M. Martin, Capital 2,000 Cash 2,000
C) Account Title Debit Credit
M. Martin, Withdrawals 2,000 M. Martin, Capital 2,000
D) Account Title Debit Credit
Cash 2,000 M. Martin, Capital 2,000
E) Account Title Debit Credit
Cash 2,000 M. Martin, Withdrawals 2,00
The general journal entry below that Smart Consulting will make to record the transaction is Account Title Debit Credit
M. Martin, Withdrawals 2,000 Cash 2,000. The correct option is A.
Molly Martin, the owner of Smart Consulting, withdrew $2,000 cash from the company for personal use Account Title Debit Credit.
The correct general journal entry to record Molly Martin's withdrawal of $2,000 cash from Smart Consulting for personal use is:
Account Title Debit Credit
M. Martin, Withdrawals 2,000 Cash 2,000
This entry reflects the decrease in the M. Martin, Withdrawals account, which is a contra equity account representing the owner's withdrawals for personal use. The debit to the account decreases the owner's equity. The credit to the Cash account reflects the decrease in the company's cash balance due to the withdrawal made by the owner.
Debit: Debit is the left-hand side of an accounting entry. It represents an increase in assets, expenses, and losses, or a decrease in liabilities, equity, and gains. Debits are used to record the use of assets, expenses incurred, or decreases in liabilities or equity.
Credit: Credit is the right-hand side of an accounting entry. It represents an increase in liabilities, equity, and gains, or a decrease in assets, expenses, and losses. Credits are used to record increases in liabilities, equity contributions, revenue earned, or decreases in assets or expenses.Hence the correct option is A
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Outline the responsibilities of the compliance officer or
partner for income tax purposes in a Limited Liability
Partnership
In a Limited Liability Partnership (LLP), the compliance officer or partner for income tax purposes holds the responsibility of ensuring that the partnership complies with all relevant income tax laws and regulations. Here is an outline of the key responsibilities of the compliance officer or partner:
1. Filing Tax Returns: The compliance officer/partner is responsible for preparing and filing the LLP's income tax returns accurately and on time. This includes reporting the partnership's income, deductions, credits, and any other relevant tax information.
2. Recordkeeping: The compliance officer/partner must maintain proper records and documentation to support the information reported on the income tax returns. This includes keeping track of income, expenses, assets, liabilities, and any other financial transactions of the LLP.
3. Compliance with Tax Laws: The compliance officer/partner should stay up to date with changes in tax laws and regulations that may impact the LLP's tax obligations. They must ensure that the partnership adheres to all applicable tax laws, including reporting requirements, tax payment deadlines, and any specific provisions related to LLP taxation.
4. Tax Planning and Optimization: The compliance officer/partner may engage in tax planning strategies to minimize the LLP's tax liability within the bounds of the law. This involves analyzing the partnership's financial situation, identifying potential deductions, credits, and exemptions, and structuring transactions in a tax-efficient manner.
5. Communication with Tax Authorities: The compliance officer/partner acts as the point of contact between the LLP and tax authorities. They may handle communication, correspondence, and inquiries from tax authorities, respond to any notices or audits, and represent the partnership in tax-related matters.
6. Partnership Distribution and Allocations: The compliance officer/partner is responsible for ensuring that partnership income and losses are properly allocated among partners according to the LLP's partnership agreement and relevant tax regulations. This includes determining each partner's share of income, deductions, and credits for tax purposes.
7. Compliance with Reporting Obligations: The compliance officer/partner should be aware of any additional reporting obligations imposed on the LLP, such as filing informational returns (e.g., Schedule K-1) to report each partner's share of income, deductions, and credits.
It's important to note that the specific responsibilities of the compliance officer or partner for income tax purposes may vary depending on the jurisdiction and the LLP's specific circumstances. Consulting with a tax professional or seeking legal advice is recommended to ensure compliance with applicable laws and regulations.
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Why is it important to make the distinction between company required rate of retum (WACC) and project required rate of return when evaluating projects?
The distinction between a company's required rate of return (WACC) and a project's required rate of return is important when evaluating projects.
The company's required rate of return, also known as the weighted average cost of capital (WACC), represents the minimum return that the company needs to generate in order to satisfy its shareholders and creditors. It is a measure of the overall risk and cost of capital for the company as a whole. The WACC takes into account the cost of debt, equity, and other sources of financing, and reflects the average return expected by all investors. On the other hand, the project's required rate of return is specific to a particular investment or project. It takes into consideration the risk and return characteristics of that project alone. The project's required rate of return may differ from the company's WACC due to variations in risk, market conditions, and project-specific factors. By evaluating the project's required rate of return separately, decision-makers can assess its viability and compare it to the expected returns and risks associated with other investment options.
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Canada’s Real GDP is measured at $1.85 trillion. The current unemployment rate is 8.3% and the natural rate of unemployment is typically 5.5%. For Canada, Okun’s Law is typically a ratio of 1% unemployment to 2.5% GDP.
a) Determine the GDP gap from our current Real GDP to our Potential GDP at Full Employment. Show work.
b) What is the value of the Real GDP that this country could produce before suffering from rapid inflation (Potential GDP at Full Employment)?
c) The typical Canadian consumes an average of $93 per $100 income. Given this data regarding Canadian’s spending and savings habits, how much money should the federal government spend to boost the AD to full employment level?
a) The GDP gap from the current Real GDP to Potential GDP at Full Employment is $100 billion. b) Real GDP that this country could produce before suffering from rapid inflation is $2.01 trillion. c) will lead to an increase in the AD of $1.43 trillion ($100 billion x 14.29).
a) GDP Gap is a measure of how much potential output a nation is currently not producing. It is determined by calculating the difference between actual and potential GDP. The formula for calculating the GDP gap is:GDP gap = potential GDP - actual GDPThe current unemployment rate is 8.3% and the natural rate of unemployment is typically 5.5%. Thus, Okun's law states that for Canada, 1% unemployment corresponds to 2.5% GDP.Given the Real GDP = $1.85 trillion and natural rate of unemployment = 5.5%, the potential output of the economy (potential GDP) can be calculated as follows:Potential GDP = Real GDP / (1 - Natural rate of unemployment)Potential GDP = 1.85 trillion / (1 - 5.5%) = 1.95 trillionSo, GDP gap = Potential GDP - Actual GDP= 1.95 - 1.85= $100 billion. Therefore, the GDP gap from the current Real GDP to Potential GDP at Full Employment is $100 billion.
b) The output of the economy that can be produced before suffering from rapid inflation is the potential GDP at full employment. The output of an economy is determined by the availability of factors of production like land, labor, capital, and technology. The maximum output that an economy can produce without causing inflation is referred to as the potential GDP at full employment.Since Okun's law states that 1% unemployment corresponds to 2.5% GDP, the full employment level of output is achieved at the natural rate of unemployment (5.5%).
Thus, potential GDP at full employment is calculated as:Potential GDP at Full Employment = Real GDP / (1 - Okun's Coefficient * (Actual Unemployment Rate - Natural Unemployment Rate))Potential GDP at Full Employment = $1.85 trillion / (1 - 2.5% * (8.3% - 5.5%))= $2.01 trillionTherefore, the value of Real GDP that this country could produce before suffering from rapid inflation is $2.01 trillion.
c) Given the typical Canadian consumption pattern, the multiplier effect is estimated to be 1/ (1-MPC), where MPC is the marginal propensity to consume. Since the average Canadian consumes $93 per $100 income, then MPC = 0.93.
If the federal government wants to increase the AD to full employment level, then the spending multiplier can be used to determine the government spending required to achieve the desired output level.
The formula for the spending multiplier is given by:Multiplier = 1 / (1 - MPC)Multiplier = 1 / (1 - 0.93) = 14.29So, to boost AD to full employment level, the government must spend $100 billion, which is the GDP gap calculated in part (a). The spending multiplier will ensure that the additional government spending of $100 billion will lead to an increase in the AD of $1.43 trillion ($100 billion x 14.29).
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Find an article online that addresses fraud within a company (for example: "Bookkeeper caught embezzling from local plumbing company"). Respond to the following questions. Please answer in paragraph format in one to two pages. Include a link to the article at the end of the paper.
What items on the balance sheet were affected by this fraud?
Based on the seven elements of internal control from the lecture, discuss what controls might have been missing.
What steps could have been taken to prevent the fraud that was perpetrated?
When fraud occurs within a company, various items on the balance sheet can be affected depending on the nature of the fraud. Some common items that may be impacted include cash and cash equivalents, accounts receivable, inventory, and retained earnings.
In terms of the seven elements of internal control, several controls might have been missing to allow the fraud to occur. These elements include the control environment, risk assessment, control activities, information and communication, monitoring, control activities over financial reporting, and control activities over safeguarding assets.
To prevent the fraud that was perpetrated, several steps could have been taken. Firstly, implementing strong internal controls and segregation of duties is essential. This means ensuring that different individuals are responsible for key financial tasks such as recordkeeping, authorization, and reconciliation.
Implementing effective monitoring systems, such as regular reviews and analysis of financial statements and transactional data, can help detect unusual patterns or discrepancies.
Overall, preventing fraud requires a combination of strong internal controls, ethical practices, regular monitoring, and employee awareness. By implementing these measures, companies can reduce the risk of fraudulent activities and protect their assets and financial integrity.
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Describe the accounting treatment for the disposal of property, plant, and equipment.
The accounting treatment for the disposal of property, plant, and equipment involves recognizing any gain or loss on disposal and removing the asset from the books. The gain or loss is determined by comparing the proceeds from the disposal with the carrying amount of the asset. The disposal is recorded in the income statement, and the asset is removed from the balance sheet.
When property, plant, and equipment are disposed of, the carrying amount of the asset is compared to the proceeds received from the disposal. If the proceeds exceed the carrying amount, a gain on disposal is recognized in the income statement. Conversely, if the proceeds are lower than the carrying amount, a loss on disposal is recorded. The gain or loss is calculated as the difference between the proceeds and the carrying amount. To remove the asset from the balance sheet, the carrying amount of the asset is reduced, typically by debiting an accumulated depreciation account and crediting the asset's cost or carrying value.
Simultaneously, the proceeds from the disposal are credited to the cash or receivables account. Overall, the accounting treatment for the disposal of property, plant, and equipment ensures that the gain or loss on disposal is appropriately recognized in the income statement and that the asset is removed from the balance sheet, reflecting the change in the entity's asset holdings.
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Carla Vista Industries carries no inventories. Its product is manufactured only when a customer's order is received. It is then shipped immediately after it is made. For its fiscal year ended October 31, 2020, Carla Vista's break-even point was $1.32 million. On sales of $1.17 million, its income statement showed a gross profit of $188,100, direct materials cost of $402,000, and direct labor costs of $505,000. The contribution margin was $152,100, and variable manufacturing overhead was $49,000. Calculate the following: 1. 2. 3. Variable selling and administrative expenses. Fixed manufacturing overhead. Fixed selling and administrative expenses. eTextbook and Media Maximum increased advertising expenditure $ eTextbook and Media LA Ignore your answer to above part, assume that fixed manufacturing overhead was $100,000 and the fixed selling and administrative expenses were $79,000. The marketing vice president feels that if the company increased its advertising, sales could be increased by 19%. What is the maximum increased advertising cost the company can incur and still report the same income as before the advertising expenditure?
The maximum increased advertising cost the company can incur and still report the same income as before the advertising expenditure is $1,519.
To calculate the requested values, we'll use the given information and the formulas related to break-even analysis and contribution margin:
Variable selling and administrative expenses:
Variable Selling and Administrative Expenses = Contribution Margin - Gross Profit
Variable Selling and Administrative Expenses = $152,100 - $188,100
Variable Selling and Administrative Expenses = -$36,000
Fixed manufacturing overhead:
Fixed Manufacturing Overhead = Gross Profit - Direct Materials Cost - Direct Labor Costs - Variable Manufacturing Overhead
Fixed Manufacturing Overhead = $188,100 - $402,000 - $505,000 - $49,000
Fixed Manufacturing Overhead = -$767,900
Fixed selling and administrative expenses:
Fixed Selling and Administrative Expenses = Break-even Point - Variable Selling and Administrative Expenses
Fixed Selling and Administrative Expenses = $1,320,000 - (-$36,000)
Fixed Selling and Administrative Expenses = $1,356,000
Given the revised fixed manufacturing overhead of $100,000 and fixed selling and administrative expenses of $79,000, we can calculate the maximum increased advertising cost the company can incur:
Maximum Increased Advertising Cost = (Current Income + Increase in Income) - (Fixed Manufacturing Overhead + Fixed Selling and Administrative Expenses)
Maximum Increased Advertising Cost = ($152,100 + 19% * $152,100) - ($100,000 + $79,000)
Maximum Increased Advertising Cost = $180,519 - $179,000
Maximum Increased Advertising Cost = $1,519
Therefore, the maximum increased advertising cost the company can incur and still report the same income as before the advertising expenditure is $1,519.
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