Answer:
$10,642
Explanation:
Computation to determine the cost recorded for this machine.
Amount included in the cost of equipment
Invoice price of machine $9,600
Less: Discount (9600 x 2%) ($192)
Net purchase price $9,408
($9,600-$192)
Freight charges $217
Mounting and power connections $664
Assembly $313
Materials used in adjusting $40
Total cost to be recorded $10,642
Therefore the cost recorded for this machine is $10,642
Situation 1: There is a Head of Human Resource (HR) in a recognized Multinational National Company (MNC). You are a marketing executive in that company. You have made a communication with the HR regarding an emergency short time leave in a Critical moment of the Company’s turnover.
In this case how you will communicate with him and convince him to provide you a short-term leave. The things to be aware of.
1. HR is a rudy person.
2. He isn't very familiar with you.
3. Company is now at a Critical Moment and there is a lot of turnovers.
4. HR is about the age of 45+
And also provide an alternative answer if the situation gets negative over you.
Ans.
Answer:
As a marketing executive of the company looking to beg an emergency leave from a HR person who is considered to be rudy, unfamiliar with me, 45+ age and also that the company is experiencing a lot of turnovers, the best way to approach the HR would be to:
1. Write an official letter to him making the intentions clear.
2. Politely ask him to consider your request even though you two are not very familiar with each other.
3. Stress the importance of the emergency and why you have to leave.
Find the next year's net income for XYZ Inc. Next year, the sales grow by 25%. The current sales $300 million, and the current profit margin is 10% and you expect it to remain constant.
Answer: $37.5 million
Explanation:
The next year's net income for XYZ will be calculated as follows:
Current sales = $300 million
Current Profit margin = 10%
Sales Growth rate = 25%
The next year's sales will be:
= Current Year's Sales × (1 + Sales Growth rate)
= $300 million × (1 + 0.25)
= $300 million × 1.25
= $375 million
Next Year's Net Income will then be:
= $375 million × 10%
= $37.5 million
The following units of a particular item were available for sale during the calendar year:
Jan. 1 Inventory 4,000 units at $40
Apr. 19 Sale 2,500 units
June 30 Purchase 4,500 units at $44
Sept. 2 Sale 5,000 units
Nov. 15 Purchase 2,000 units at $46
The firm maintains a perpetual inventory system. Determine the cost of goods sold for each sale and the inventory balance after each sale, assuming the last-in, first-out method.
Answer:
The cost of goods sold for eachs ale and the inventory balance after each sale, assuming the LIFO (last-in, first-out) method:
Cost of goods sold Ending Inventory
Apr. 19 Sale $100,000 $60,000
Sept. 2 Sale $218,000 $40,000
Explanation:
a) Data and Calculations:
Date Description Units Unit Cost Total Balance
Jan. 1 Inventory 4,000 $40 $160,000
Apr. 19 Sale (2,500) (100,000) $60,000
June 30 Purchase 4,500 $44 198,000 258,000
Sept. 2 Sale (5,000) (218,000) 40,000
Nov. 15 Purchase 2,000 $46 92,000 132,000
Cost of goods sold: Ending Inventory
April 19: = 2,500 * $40 = $100,000 = 1,500 * $40 = $60,000
Sept 2: = 4,500 * $44 + 500 * $40 = 1,000 * $40 = $40,000
= $198,000 + $20,000
= $218,000
A computer manufacturer is producing a one-of-a-kind innovation called Innovel, a cloud computing software that helps navigate Internet content. While making the channel decision and finalizing the distribution arrangement, the manufacturer is keen on limiting the distribution of Innovel and gives only Techaven Inc. the rights to sell Innovel in that region. Techaven is known for its unique facilities and specialized inventories. In this case, the manufacturer is using the ________ arrangement of distribution.
Answer: exclusive
Explanation:
Exclusive distribution occurs when a manufacturer authorizes only one distributor to sells its product within a particular region. It should be noted that this distribution arrangement is typically used for premium and exclusive products.
Since the manufacturer is keen on limiting the distribution of Innovel and gives only Techaven Inc. the rights to sell Innovel in that region, the this is an exclusive arrangement of distribution.
You are analyzing ABC Company, a computer manufacturer. You notice that inventory turnover this year is significantly lower than in prior years. You also notice that accounts receivable turnover is significantly lower this year when compared to previous years. Provide three explanations that would be consistent with your observation for inventory turnover and include an explanation of whether these would be of concern to you, as well as what the effect might be on the next period's financial results. In addition, provide three explanations that would be consistent with your observation of the accounts receivable turnover, and explain whether these would be of concern to you.
Answer:
ABC Company
1. Observation: Current year's inventory turnover is significantly lower than those of previous years.
Explanations:
1. Lower inventory turnover implies weaker sales for the current period than those of previous years.
2. Lower inventory turnover results from excessive inventory, which increases storage costs and interest expenses.
3. The ratio may also indicate that the demand for the product is declining rapidly. Many reasons can be adduced for this situation. Little marketing efforts, bad product, and lack of product competitiveness.
a) The formula for computing the inventory turnover equals Cost of goods sold/Average Inventory. The ratio shows the number of times goods are sold in a period. When goods are sold more frequently, sales activities increase, including revenue and profit.
2. Observation: Also current year's accounts receivable turnover is significantly lower than in previous years.
Explanations:
1. Billing inefficiency can contribute to lower accounts receivable turnover.
2. Poor credit policy may give rise to inefficient collection process, excessive bad debts, long credit days, bad customers, and lack of incentives to customers to settle their invoices.
3. Lastly, lower accounts receivable turnover may point to declining demand of the product by customers.
b) The formula for calculating the accounts receivable turnover is Net Credit Sales divided by Average receivables. The ratio determines the effectiveness of the company's credit policy.
Analysis of Receivables Method At the end of the current year, Accounts Receivable has a balance of $440,000; Allowance for Doubtful Accounts has a credit balance of $4,000; and sales for the year total $1,980,000. Using the aging method, the balance of Allowance for Doubtful Accounts is estimated as $14,800.
Required:
a. Determine the amount of the adjusting entry for uncollectible accounts.
b. Determine the adjusted balances of Accounts Receivable, Allowance for Doubtful Accounts, and Bad Debt Expense.
c. Determine the net realizable value of accounts receivable.
Answer: See explanation
Explanation:
a. The amount of the adjusting entry for uncollectible accounts will be:
= Estimated balance required in Allowance account - Unadjusted balance existing in Allowance account
= $14800 - $4000
= $10800
b. The adjusted balances of Accounts Receivable, Allowance for Doubtful Accounts, and Bad Debt Expense will be:
Account receivables = $440,000
Allowance for Doubtful accounts = $14,800
Bad Debt expense = $10800
c. The net realizable value of accounts receivable will be:
= Account receivables - Allowance for Doubtful accounts
= $440,000 - $14800
= $425200
A buyer has decided to offer $335,000 for a home that she really likes. The bank will loan her 80% of the purchase price for 30 years at 5% interest. What will be the amount of her principal and interest payment if the requirement is $5.68 per thousand of the loan amount?
Answer:
We have:
Amount of principal = $268,000
Interest payment = $1,522.24
Explanation:
These can be calculated as follows:
Loan principal = Cost of the home * Percentage to borrow = $335,000 * 80% = $268,000
Interest payment = (Loan principal / $1,000) * $5.68 = ($268,000 / $1,000) * $5.68 = 268 * $5.68 = $1,522.24
Therefore, we have:
Amount of principal = $268,000
Interest payment = $1,522.24
Based on this model, households earn income when firms __________ purchase goods and services ___________in markets for factors of production. Suppose Caroline earns $625 per week working as jewelry appraiser for Classy's Jewelry Store. She uses $10 to get her car washed at Spotless Car Wash. Spotless Car Wash pays Antonio $275 per week to wash cars. Antonio uses $150 to purchase a necklace from Classy's Jewelry Store.
Identify whether each of the following events in this scenario occurs in the market for factors of production or the market for goods and services.
Event Market for Factors of Production Market for Goods and Services
Caroline spends $10 to get her car washed.
Antonio spends $150 to purchase a necklace from Classy's Jewelry Store.
Antonio earns $275 per week working for Spotless Car Wash.
Which of the elements of this scenario represent a flow from a household to a firm? This could be a flow of dollars, inputs, or outputs.
i. The car wash Caroline receives
ii. The $275 per week
iii. Antonio earns working for Spotless Car wash
The $150 Antonio spends to purchase a necklace from Classy's Jewelry Store
The actual economy is more complicated than the one illustrated in the previous circular-flow diagram of a simple economy
True / False
Answer and Explanation:
Market for Factors of Production:
Antonio earns $275 per week working for Spotless Car Wash.
Market for Goods and Services:
Caroline spends $10 to get her car washed.
Antonio spends $150 to purchase a necklace from Classy's Jewelry Store.
Which of the elements of this scenario represent a flow from a household to a firm?
The $150 Antonio spends to purchase a necklace from Classy's Jewelry Store
The actual economy is more complicated than the one illustrated in the previous circular-flow diagram of a simple economy - false
The circular flow of income represents the flow of economic exchanges between economic agents in the economy. If a household provides the labor factor of production, it is paid and uses the same money to purchase from the same firms that produce goods and services. This is a cycle and actually doesn't get more complex than this in real life, only involves alot more firms or economic agents.
MC Qu. 114 Lowden Company has an overhead application... Lowden Company has an overhead application rate of 155% and allocates overhead based on direct material cost. During the current period, direct labor cost is $60,000 and direct materials used cost $90,000. Determine the amount of overhead Lowden Company should record in the current period.
Answer:
the overhead amount recorded is $139,500
Explanation:
The computation of the overhead amount recorded is shown below:
= Overhead application rate × direct material cost
= 155% × $90,000
= $139,500
Hence, the overhead amount recorded is $139,500
We simply applied the above formula so that the correct value could come
Investment Center Sales Income Average Invested Assets Electronics $ 40,500,000 $ 2,916,000 $ 16,200,000 Sporting goods 20,740,000 2,074,000 12,200,000 1. Compute return on investment for each department. Using return on investment, which department is most efficient at using assets to generate returns for the company
Answer and Explanation:
The computation of the return on investment is shown below;
We know that
Return on Investment is
= (Net Income ÷ Average Operating Assets] × 100
For Electronics
= [$29,16,000 ÷ 162,00,000] × 100
= 18%
And,
For Sporting goods
= [$20,74,000 ÷ 122,00,000] × 100
= 17%
So here the electronics department should be selected as it has high return on investment
In a closed economy, saving and investment must be equal, but this is not the case in an open economy. In the following problem, you will explore how saving and investment are connected to the international flow of capital and goods in an economy. Before delving into the relationship between these various components of an economy, you will be asked to recall some relationships between aggregate variables that will be useful in your analysis.
Recall the components that make up GDP. National income (Y) equals total expenditure on the economy's output of goods and services. Thus, where C = consumption, I = investment, G = government purchases, X = exports, M = imports, and NX = net exports:
Y =
Also, national saving is the income of the nation that is left after paying for Therefore, national saving (S) is defined as: S =
Rearranging the previous equation and solving for Y yields Y = . Plugging this into the original equation showing the various components of GDP results in the following relationship:
S =
This is equivalent to S =, since net exports must equal net capital outflow (NCO, also known as net foreign investment).
Now suppose that a country is experiencing a trade surplus. Determine the relationships between the entries in the following table, and enter these relationships using the following symbols: > (greater than), < (less than), or = (equal to).
Answer:
a. Y = C + I + G + NX
b. National saving is the income of the nation that is left after paying for current consumption (C) and government purchases (G).
c. S = Y - C - G
d. Y = S + C + G
e. S = I + NX
f. S = I + NCO
g. Outcomes of a Trade Surplus
Exports > Imports
Net Exports > 0
C + I + G < Y
Saving > Investment
Net Capital Outflow > 0
Explanation:
a. Y = C + I + G + X - M …………………. (1)
If we assumed X is greater than M, we have:
NX = X - M
Substituting NX = X - M into equation (1), we have:
Y = C + I + G + NX
b. Also, national saving is the income of the nation that is left after paying for current consumption (C) and government purchases (G).
c. Therefore, national saving (S) is defined as: S = Y - C - G.
d. Rearranging the previous equation and solving for Y yields Y = S + C + G.
e. Plugging this into the original equation showing the various components of GDP results in the following relationship:
S + C + G = C + I + G + NX
S = C + I + G + NX - C - G
S = I + NX
f. This is equivalent to S = I + NCO, since net exports must equal net capital outflow (NCO, also known as net foreign investment).
g. Now suppose that a country is experiencing a trade surplus. Determine the relationships between the entries in the following table, and enter these relationships using the following symbols: > (greater than), < (less than), or = (equal to).
Note: The omitted table in the question given as follows:
Outcomes of a Trade Surplus
Exports ____ Imports
Net Exports _____ 0
C + I + G _____ Y
Saving ____ Investment
Net Capital Outflow ___ 0
Therefore, the answer is given as follows:
Outcomes of a Trade Surplus
Exports > Imports
Net Exports > 0
C + I + G < Y
Saving > Investment
Net Capital Outflow > 0
đối với những sản phẩm thuộc ô ngôi sao trong ma trận BCG thì lời khuyên dành cho nhà quản trị học là nên tiếp tục hi sinh lợi nhuận ngắn hạn để gia tăng thị phần trong tương lại. đúng hay sai giải thích
Answer:
??
Explanation:
If the efficient market hypothesis is true, price changes are independent and biased. Group of answer choices
Answer:
Price changes are independent but not biased in efficient market hypothesis.
Explanation:
In simple words, the efficient-market hypothesis asserts that asset prices represent all relevant knowledge. Because market rates must only respond to fresh knowledge it is difficult to continuously "beat the market" on something like a risk-adjusted approach.
Thus the given statement is partially true.
There are a handful of common mistakes people make when trying to
separate skill from chance. Which of the following is not one of those mistakes?
a. Hindsight bias
b. Outcome bias
c. Loss aversion
d. Narrative seeking
Answer:
c. Loss aversion
Explanation:
Loss aversion is a cognitive bias that explains where there is the pain for losing should be twice as equivalent to the gaining pleasure. It is the tendency of an individual to avoid the losses that purchase the equivalent gains. And, the term that not done the given mistake is the loss aversion
So as per the given situation, the option c is correct
Mabel is a single 40-year-old who has borrowed money on numerous occasions. Her payment record has been good, except she has been delinquent in paying a few bills. Which of the following is true regarding credit information gathered on Mabel?
a. Since Mabel has been delinquent, she waives her right to see the credit files.
b. If Mabel is rejected for a loan because of the consumer report, the lender must tell her the source of the report.
c. Mabel has a right to have the information regarding her delinquency in paying a few loans stricken from her credit record because her record has generally been good.
d. Mabel's only legal remedy, if there is erroneous information in her credit file, is to report the problem to the FTC for enforcement.
Answer:
b. If Mabel is rejected for a loan because of the consumer report, the lender must tell her the source of the report.
Explanation:
The best answer to this question is option b, given that it gives the best description of the situation at hand. If she is turned down for a loan due to the fact that she has been delinquent in paying bills, the the agency from which she seeks this loan has to tell her the source of the report. A credit report gives a summarized statement of a persons financial state. It has such important information like the particulars of the person , address as well as the person SSN,
Skyline Florists uses an activity-based costing system to compute the cost of making floral bouquets and delivering the bouquets to its commercial customers. Company personnel who earn $180,000 typically perform both tasks; other firm-wide overhead is expected to total $70,000. These costs are allocated as follows:
Bouquet Production Delivery Other
Wages and salaries 60% 30% 10%
Other overhead 50% 35% 15%
Riverside anticipates making 20,000 bouquets and 4,000 deliveries in the upcoming year. The cost of wages and salaries and other overhead that would be charged to each bouquet made is closest to:
a. $12.50.
b. $7.15.
c. some other amount.
d. $8.75.
e. $13.75.
Answer:
b. $7.15
Explanation:
Cost of wages & salaries per bouquet = [($180,000*60%) + ($70,000*50%)] / 20,000
Cost of wages & salaries per bouquet = ($108,000 + $35,000) / 20,000
Cost of wages & salaries per bouquet = $143,000 / 20,000
Cost of wages & salaries per bouquet = $7.15
So, the cost of wages and salaries and other overhead that would be charged to each bouquet made will be $7.15.
Required: Monson sells 15 units for $20 each on December 15. Assume the periodic inventory system is used. Determine the costs assigned to ending inventory when costs are assigned based on the weighted average method. (Amounts to be deducted should be indicated with a minus sign. Round cost per units to 2 decimals.)
Answer:
The costs assigned to ending inventory are $11.33 per unit and $340 total cost.
Explanation:
Note: This question is not complete. The complete question is therefore provided before answering the question as follows:
Trey Monson starts a merchandising business on December 1 and enters into the following three inventory purchases. Also, on December 15, Monson sells 15 units for $20 each.
Purchases on December 7 10 units at $ 6.00 cost
Purchases on December 14 20 units at $12.00 cost
Purchases on December 21 15 units at $14.00 cost
Required: Monson sells 15 units for $20 each on December 15. Assume the periodic inventory system is used. Determine the costs assigned to ending inventory when costs are assigned based on the weighted average method. (Amounts to be deducted should be indicated with a minus sign. Round cost per units to 2 decimals.)
The explanation of the answer is no provided as follows:
Periodic inventory refers to an inventory system that is updated on a periodic basis such as monthly, quarterly, or annually.
The weighted average method is a formula that divides the cost of products offered for sale by the number of units available for sales.
Combining these two methods, we have:
Value of Purchases on December 7 = 10 * $6.00 = $60
Value of Purchases on December 14 = 20 * $12.00 = $240
Value of Purchases on December 21 = 15 * $14.00 = $210
Total value of units available for sale = $60 + $240 + $210 = $510
Total units available for sale = 10 + 20 + 15 = 45
Costs assigned to ending inventory per unit = Weighted average cost per unit = Total value of units available for sale / Total units available for sale $510 / 45 = $11.33
Units of ending inventory = Total units available for sale – Number of units sold = 45 - 15 = 30
Total cost of ending inventory = Units of ending inventory * Weighted average cost per unit = $11.33 * 30 = $340
Therefore, the costs assigned to ending inventory are $11.33 per unit and $340 total cost.
Brandy’s Restaurant estimates that its total cost of providing Q meals per month is given by TC = 6,000 + 2 Q. If Brandy charges $4 per meal, what is its break-even level of output?
Answer: 3,000 meals
Explanation:
The 6,000 in this total cost formula represents the fixed costs of providing the Q meals per month.
The 2 represents the variable cost.
If a meal is $4, that means that the Contribution margin is:
= 4 - 2
= $2 per meal
The break-even level of output is:
= Fixed cost / Contribution margin per meal
= 6,000 / 2
= 3,000 meals
If a property will produce net cash flow that grows at a rate of 1.5% per year in perpetuity, and the opportunity cost of capital is 12%, then what is the "cap rate" (net cash flow / property value) for the property?
(a) 8%.
(b) 10%.
(c) 10.5%.
(d) 12%.
Answer:
(c) 10.5%.
Explanation:
Calculation to determine what is the "cap rate
Using this formula
x 1/r-g
Let plug in the formula
1/12-1.5
An excellent website design delights its audience and is the product of innovation built on a foundation of
Answer:
careful site planning
Explanation:
The careful site planning permits you to create the website that contains the delightful design due to which it helps in attracting the audience also it is the foundation for building the production for an innovation purpose. In this we ca n plan about the site theme, its layout, color, design etc
An automatic stabilizer:________
a) increases inflationary pressure during expansions.
b) increases the drop in disposable income during recessions and increases the jump in disposable income during expansions.
c) increases tax revenue relative to government spending throughout the business cycle.
d) decreases tax revenue relative to government spending throughout the business cycle.
e) reduces the drop in disposable income during recessions and reduces the jump in disposable income during expansions.
Answer:
E
Explanation:
Automatic stabilizers are stabilizers that adjust the economy automatically without the intervention of external agents . examples include progressive tax and transfer payments
In an expansion, progressive tax increases the tax paid and this reduces disposable income
In a contraction, tax paid is reduced and this increases disposable income
Automatic stabilizers contrasts with discretionary fiscal policies.
Discretionary fiscal policies are deliberate steps taken by the government to stimulate the economy in order to cause the economy to move to full employment and price stability more quickly than it might otherwise.
Discretionary fiscal policies can either be expansionary or contractionary
Expansionary fiscal policy is when the government increases the money supply in the economy either by increasing spending or cutting taxes.
Contractionary fiscal policies is when the government reduces the money supply in the economy either by reducing spending or increasing taxes
Bothell Company uses a job order costing system that allocates estimated overhead as 40% of prime costs. What is the cost of a job that required direct materials of $2,000 and direct labor of $5,200
Answer:
$10,080
Explanation:
The computation of the cost of the job is shown below:
We know that
prime cost = direct material + Direct labor
= $2,000 + $5,200
= $,7200
Now overhead is
= 40% of $7200
= $2,880
And,
Cost of job = direct material + Direct labor + overhead
= $2,000 + $5,200 + $2,880
= $10,080
The phone rings in the next room and the assistant answers it. She tells the caller, "Yes, sir, he is here." After a moment she adds: "He has been here for about five or ten minutes, sir." She soon hangs up, and comes in with your coffee. She tells you that it should not be too much longer and again apologizes. She explains that the CEO stopped at a gas station to call in. She then tells you that the CEO is a bit "old fashioned." "He doesn't really use a cell phone," she says. She turns to leave, but you ask her to have a seat. You have an opportunity here. What should you ask the CEO's personal assistant?
Answer:
The best question to ask the CEO's personal assistant while you are waiting for the CEO is:
Could you tell me about your work environment?
Explanation:
This question will enable you to build rapport with the personal assistant and to learn more about the organization. It will expose the personal assistant's job satisfaction level, the job setting, and social features, including physical conditions for a worker at the organization to fulfill her responsibilities. The question will also expose the general employee feelings of wellbeing, workplace relationships, productivity efficiency, and employee health. It will expose the organization culture, which is an important determinant of organizational success.
Following is information from Intel Corporation for 2016 ($ in millions). Total revenue $59,387 Projected revenue growth rate 5.0% Net operating profit margin (NOPM) 17.3% Net operating assets (NOA) $83,316 Net operating asset turnover (NOAT) 0.74 Projected net operating profit after tax (NOPAT) for 2017 is:
Answer:
the Projected net operating profit after tax (NOPAT) is $10,788
Explanation:
The computation of the Projected net operating profit after tax (NOPAT) is given below:
= Total revenue × (1 + growth rate) × net operating profit margin
= $59,387 × (1 + 0.05) × 17.3%
= $62,356.35 × 17.3%
= $10,788
Hence, the Projected net operating profit after tax (NOPAT) is $10,788
Match each description 1 through 6 with the characteristic of preferred stock that it best describes by writing the letter of that characteristic in the blank next to each description.
A. Callable
B. Convertible
C. Cumulative
D. Noncumulative
E. Nonparticipating
F. Participating
_____ 1. Holders of the stock are entitled to receive current and all past dividends before common stockholders receive any dividends.
_____ 2. The issuing corporation can retire the stock by paying a prespecified price.
_____ 3. Holders of the stock can receive dividends exceeding the stated rate under certain conditions.
_____ 4. Holders of the stock are not entitled to receive dividends in excess of the stated rate.
_____ 5. Holders of this stock can exchange it for shares of common stock.
_____ 6. Holders of the stock lose any dividends that are not declared in the current year.
Answer and Explanation:
The classification is as follows
a. In the callable, the corporation who issued could retired the stock by payoff the mentioned price
b. In the convertible, the stockholders could able to exchange for the common stock shares
c. In the cumulative, the stockholders should received the current as well as the past dividends prior to the common stockholders
d. In the non-cumulative, the stockholders should lose the dividend that not declared in the present year
e. In the non-participating, the stockholders should not received any dividend that more than the stated rate
f. In the participating, the stockholder should received any dividend that more than the stated rate
Joseline waited until December 12, 2019, to file her 2018 Form 1040 return. She did not request an extension. Her balance due for 2018 is $461. What is her failure to file penalty
Answer: $207.45
Explanation:
The latest date that Josephine should have filed her taxes by was April 15th 2019.
She instead waited till December 12, 2019.
9 partial and full months have passed since that time so her penalty will be for 9 months.
Penalty is 5% of the balance due:
= 461 * 5% * 9
= $207.45
Schultz v. Capital International Security, Inc. 460 F.3d 595 (4th Cir. 2006) Facts: The plaintiff-agents provided security services for Schultz and his family at his Virginia residence in twelve-hour shifts. The agents were paid a daily rate for each shift; they received no extra pay for overtime. The agents had a command post at the residence, from which they observed security camera monitors, answered the telephone, and kept a daily log of all arrivals and departures. They also made hourly walks of the property, ensured that members of his family were safe when departing and arriving, sorted mail, and performed various tasks upon request of his family. In addition to their security duties, the agents were responsible for having the household’s vehicles washed and fueled, making wake-up calls, moving furniture, and doing research on the Internet. Schultz's long-time driver and travel agent, Sammy Hebri, formed a company called Capital International Security, Inc. (CIS). Hebri started CIS for the purpose of becoming Schultz's security contractor. Hebri sent a memo (dated July 24, 2002) to the agents directing them to obtain their own private security business licenses from the VDCJS and individual liability insurance so they could be classified as independent contractors. Issue: The issue is whether the bodyguards were considered to be employees or independent contractors for the purpose of the Fair Labor Standards Act. Action: You must respond to all questions below. You must use at least three sources from the class materials and do independent research. Do not combine the five discussion questions and please use the outline below for your paper. Use of the outline will help you organize your research and comments and ensure you do not miss any questions that must be addressed. Your responses to each question must be in narrative format not bullets. Use the headings below to organize your paper.
Question 1A - a. Summarize the relevant facts of the case. What is your opinion on the outcome of this case?
Question 1c - Classification Test: In the above case, what kind of classification test could have been used and what would be the result?
Answer:
Hence the answer is given as follows,
Explanation:
1A) In the given case, the agents who are the plaintiffs were working as security guards for Schultz and his family. There was miscellaneous work that they were required to conduct for the family. The agents were paid a daily wage and weren't paid overtime. Schultz’s driver opened a replacement company called CIS and asked the agents to get their own private security business licenses in order that they will get classified as independent contractors. So, the difficulty arises that whether the agents should be classified as employees or as independent contractors.
The agents were paid a daily wage and not a salary. Moreover, they weren't qualified for overtime pay. Employees usually get salaries and are eligible to urge over time by the overtime work. Hence the agents are independent contractors and can't be considered employees.
1C) In the given case, a hybrid classification test is often wont to check the status of whether the agents were employees or independent contractors. A hybrid classification test has characteristics of right to regulate test also as economic realities test. Schultz and his family weren't controlling the work of the agents. The agents had pre-determined work and that was conducting it in an independent manner. The agents also were paid on a day to day and didn't have a timekeeping requirement. Hence the agents can qualify as independent contractors and not employees as per the hybrid classification test.
On August 1, Lola Company’s assets are $30,000 and its liabilities are $10,000. On August 4, Lola issues a sustainability report. On August 5, ownership invests $3,000 cash and $7,000 of equipment in Lola. After the investment, what is the amount of equity for Lola?
Answer: $30,000
Explanation:
Before the investment, Equity was:
= Assets - Liabilities
= 30,000 - 10,000
= $20,000
The owner then invested $3,000 and $7,000 therefore making a total of $10,000.
Equity becomes
= 20,000 + 10,000
= $30,000
The equity is $30,000
Lola's company assets are $30,000
The liabilities are $10,000
Equity= $30,000-$10,000
= $20,000
On August 5, ownership invests $3,000 in cash and $7,000 in equipment
= $3,000+$7,000
= $10,000
The amount of equity for Lola is
= $20,000+$10,000
= $30,000
Please see the link below for more information
https://brainly.com/question/4303134?referrer=searchResults
In 2020, Susan had interest expense of $58,500 from her investments. Susan's has investment income of $46,500. Of this amount, interest is $15,000, qualified dividends are $9,000, and a net capital gain on the sale of securities is $22,500. What is the maximum amount of Susan's investment interest expense deduction for the current year if she decides to give up the capital gain preferential treatment
Answer:
Susan
The maximum amount of Susan's investment interest expense deduction for the current year if she decides to give up the capital gain preferential treatment is:
= $46,500.
Explanation:
a) Data and Calculations:
Investment interest expense = $58,500
Investment income = $46,500
Makeup of investment income:
Interest = $15,000
Dividends = $9,000
Net capital gain on the sale of securities = $22,500
b) Susan's investment interest expense is the interest amounting to $58,500 that she paid on the money she borrowed to purchase the taxable investments. The amount that Susan can deduct is capped at her net taxable investment income for the year, which totaled $46,500 since she gives up the capital gain preferential treatment. The remaining $12,000 in interest expense can be carried forward to the next fiscal year to reduce her future taxes.
A company is concerned about the number of customers that have to wait for service in their customer service department. Assume the rate at which customers arrive is 12 per hour. Using the infinite queuing notion for the models presented in the textbook, which of the following is the mean time between arrivals?
A) 12 minutes
B) 6 minutes
C) 2 Minutes
D) 1 Minute
E) None of these
Answer:
E) None of these
Explanation:
Calculation to determine which of the following is the mean time between arrivals
Using this formula
Mean time between arrivals = 1/Arrival rate
Let plug in the formula
Mean time between arrivals= 1/12
Mean time between arrivals= 0.0833 hours or 5 minutes
Therefore the Mean time between arrivals will be 0.0833 hours or 5 minutes
