The expected annual return for the stock is 3.01%.
By calculating multiplying each possible return by the probability of that return occurring and then summing the results. This can be represented by the formula:
E[R] = ∑ IR * P[R]
Where E[R] is the expected return, IR is the possible return, and P[R] is the probability of that return occurring. Using the values provided in the table, we can plug them into the formula to find the expected annual return:
E[R] = (-17% * 0.13) + (-7% * 0.34) + (8% * 0.37) + (29% * 0.16)
E[R] = -2.21% + -2.38% + 2.96% + 4.64%
E[R] = 3.01%
Therefore, the expected annual return for the stock is 3.01%. The correct answer is 3.01%.
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Journalizing And Posting Payroll EntriesCascade Company has four employees. All are paid on a monthly basis. The fiscal year of the business is June 1 to May 31.The accounts kept by Cascade include the following:AccountNumber Title Balance onJune 1101 Cash $70,200211 Employee Federal Income Tax Payable 3,553212 Social Security Tax Payable 5,103213 Medicare Tax Payable 1,197218 Savings Bond Deductions Payable 1,225221 FUTA Tax Payable 574222 SUTA Tax Payable 2,835511 Wages and Salaries Expense 0530 Payroll Taxes Expense 0The following transactions relating to payrolls and payroll taxes occurred during June and July:June 15 Paid $9,853 covering the following May taxes: Social Security tax $5,103Medicare tax 1,197Employee federal income tax withheld 3,553Total $9,85330 June payroll: Total wages and salaries expense $42,000Less amounts withheld: Social Security tax $2,604 Medicare tax 609 Employee federal income tax 3,570 Savings bond deductions 1,225 8,008Net amount paid $33,99230 Purchased savings bonds for employees, $2,450 30 Employer payroll taxes expenses for June were: Social Security $2,604Medicare 609FUTA 84SUTA 567Total $3,864July 15 Paid $9,996 covering the following June taxes: Social Security tax $5,208Medicare tax 1,218Employee federal income tax withheld 3,570Total $9,99631 Paid SUTA tax for the quarter, $3,402 31 Paid FUTA tax, $658 1. Journalize the preceding transactions using a general journal. If an amount box does not require an entry, leave it blank. Do not enter the posting reference until you have completed part 2.Page:DATE ACCOUNT TITLE DOC.NO. POST.REF. DEBIT CREDIT 1 20-- June 15 12 23 34 45 Deposit of employee federal income tax and Social Security and Medicare taxes 56 67 30 78 89 910 1011 1112 1213 To record June payroll 1314 1415 30 1516 1617 Purchased U.S. savings bonds for employees 1718 1819 30 1920 2021 2122 2223 2324 To record employer payroll taxes expense 2425 2526 July 15 2627 2728 2829 2930 Deposit of employee federal income tax and Social Security and Medicare taxes 3031 3132 31 3233 3334 Paid SUTA tax 3435 3536 31 3637 3738 Paid FUTA tax 38
Cascade Company paid $9,853 for May payroll taxes on June 15 and $33,992 for June payroll on June 30, including $2,450 for purchased savings bonds for employees and $3,864 for employer payroll taxes, and paid $9,996 for June payroll taxes, $3,402 for SUTA tax, and $658 for FUTA tax on July 15.
The journal entries for the transactions of Cascade Company relating to payrolls and payroll taxes for June and July are as follows:
June 15 Employee Federal Income Tax Payable 23 $3,553
Social Security Tax Payable 23 5,103
Medicare Tax Payable 23 1,197
Cash 23 $9,853
June 30 Wages and Salaries Expense 51 $42,000
Social Security Tax Payable 51 2,604
Medicare Tax Payable 51 609
Employee Federal Income Tax Payable 51 3,570
Savings Bond Deductions Payable 51 1,225
Cash 51 $33,992
Purchased Savings Bonds for Employees 23 $2,450
Payroll Taxes Expense 30 2,604
Payroll Taxes Expense 30 609
Payroll Taxes Expense 30 84
Payroll Taxes Expense 30 567
Cash 30 $3,864
July 15 Employee Federal Income Tax Payable 23 $3,570
Social Security Tax Payable 23 5,208
Medicare Tax Payable 23 1,218
Cash 23 $9,996
July 31 SUTA Tax Payable 23 $3,402
Cash 23 $3,402
July 31 FUTA Tax Payable 23 $658
Cash 23 $658
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critically discuss the journey of an act of parliament
(primary legislation) as a source of law in the uk.
The journey of an Act of Parliament (primary legislation) as a source of law in the UK can be summarized in the following steps:
1. Proposal: The first step in the journey of an Act of Parliament is the proposal of a new law. This can be done by the government, individual members of Parliament, or through a private member's bill.
2. First Reading: The proposed legislation is introduced to the House of Commons or the House of Lords and is given a first reading. This is a formal introduction and no debate takes place at this stage.
3. Second Reading: The proposed legislation is given a second reading, where it is debated and scrutinized by members of Parliament. If the legislation is approved at this stage, it will move on to the next step.
4. Committee Stage: The proposed legislation is examined in detail by a committee of members of Parliament. The committee may suggest amendments to the legislation, which are then debated and voted on.
5. Report Stage: The proposed legislation, with any amendments, is presented to the House of Commons or the House of Lords for further debate and scrutiny.
6. Third Reading: The proposed legislation is given a third and final reading, where it is debated and voted on. If it is approved, it will move on to the next step.
7. Royal Assent: The proposed legislation is presented to the monarch for approval. If the monarch approves the legislation, it becomes an Act of Parliament and is officially a source of law in the UK.
Overall, the journey of an Act of Parliament as a source of law in the UK is a complex and multi-step process that involves careful scrutiny and debate at every stage.
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Suppose Mr. A is faced with the possibility of an auto accident this coming year. Assume the probability of the accident is 40% (0.40). [Obviously, Mr. A is a more reckless driver than you are]. Also assume that the cost of the auto accident for Mr. A is $20,000. Finally, assume that Mr. A will have $100,000 at the end of the year if he does not have an accident. Without insurance Mr. A’s wealth at the end of the year is uncertain.
What is the standard deviation of Mr. A’s wealth at the end of the year?
The standard deviation of Mr. A's wealth at the end of the year can be calculated using the formula for standard deviation of a discrete random variable:
Standard deviation = √[(x1 - μ)^2 * P(x1) + (x2 - μ)^2 * P(x2) + ... + (xn - μ)^2 * P(xn)]
Where x1, x2, ... , xn are the possible values of the random variable, μ is the expected value, and P(x1), P(x2), ... , P(xn) are the probabilities of the possible values.
In this case, the possible values of Mr. A's wealth at the end of the year are $100,000 (if he does not have an accident) and $80,000 (if he has an accident), with probabilities of 0.60 and 0.40, respectively. The expected value of Mr. A's wealth at the end of the year is:
μ = ($100,000 * 0.60) + ($80,000 * 0.40) = $92,000
The standard deviation of Mr. A's wealth at the end of the year is:
Standard deviation = √[($100,000 - $92,000)^2 * 0.60 + ($80,000 - $92,000)^2 * 0.40] = √[$3,200,000,000 * 0.60 + $1,440,000,000 * 0.40] = √[$1,920,000,000 + $576,000,000] = √[$2,496,000,000] = $49,899.99
Therefore, the standard deviation of Mr. A's wealth at the end of the year is $49,899.99.
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Under ---- technique, researchers provide respondents with the opportunity to express their feelings through nonverbal form such as sounds, music, and drawings. *Focus group interviewObservational researchMetaphor analysisProjective techniquesPeople with ------ Need for Cognition (NFC) likes the part of an ad that is rich in product-related information and people with ---- NFC are attracted to background aspects of an ad, such as attractive model or well-known celebrity. *Low, HighLow, ModerateHigh, LowHigh, ModerateIndividuals who successfully achieve their goals usually set new and higher goals for themselves. They raise their -------. *Level of Defense mechanismLevel of MotivationLevel of CognitionLevel of aspirationSome theorists have emphasized the dual influence of ----- and ----- on personality development. *Heredity and Early childhood experiencesSocial and Political influencesEarly childhood experiences and SocietyHeredity and environmental influences
The correct option are D, A, D, D.
1 - Under Projective techniques researchers provide respondents with the opportunity to express their feelings.
2 - People with high Need for Cognition (NFC) likes the part of an ad that is rich in product-related information
3 - Individuals who successfully achieve their goals usually set new and higher goals for themselves.
4 - Some theorists have emphasized the dual influence of heredity and environmental influences
The correct answers to the questions are as follows:
1. Projective techniques: Under projective techniques, researchers provide respondents with the opportunity to express their feelings through nonverbal form such as sounds, music, and drawings.
2. High, Low: People with high Need for Cognition (NFC) likes the part of an ad that is rich in product-related information and people with low NFC are attracted to background aspects of an ad, such as attractive model or well-known celebrity.
3. Level of aspiration: Individuals who successfully achieve their goals usually set new and higher goals for themselves. They raise their level of aspiration.
4. Heredity and environmental influences: Some theorists have emphasized the dual influence of heredity and environmental influences on personality development.
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The withdrawals account of each partner is:
Multiple Choice
Closed to that partner's capital account.
Closed to the Income Summary account.
A permanent account that is not closed.
Credited with that partner's share of net income.
Debited with that partner's share of net loss.
The correct answer to the withdrawals account of each partner is: Closed to that partner's capital account.
The withdrawals account of each partner is used to track the amount of money that each partner takes out of the business for personal use. At the end of the accounting period, the withdrawals account is closed to the partner's capital account.
This means that the balance in the withdrawals account is transferred to the capital account, reducing the partner's capital balance.
It is important to note that the withdrawals account is not closed to the Income Summary account, as this account is used to close the revenue and expense accounts. The withdrawals account is also not a permanent account, as it is closed at the end of the accounting period.
Finally, the withdrawals account is not credited with the partner's share of net income or debited with the partner's share of net loss, as these transactions are recorded in the partner's capital account.
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The withdrawals account of each partner is closed to that partner's capital account.
The partnership capital account is an equity account in the accounting records of a partnership. It contains the following types of transactions: Initial and subsequent contributions by partners to the partnership, in the form of either cash or the market value of other types of assets.This means that any withdrawals made by a partner during the accounting period are subtracted from their capital account in order to accurately reflect the partner's current equity in the business.
It is important to close the withdrawals account to the capital account in order to properly prepare the financial statements and accurately reflect the financial position of the business.A partner's opening capital account balance generally equals the value of his contribution to the partnership – (i.e. cash plus the net value of any contributed property).
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Which is true with respect to the preparation of an integrated report?
A: Is compulsory for listed companies
B: Is compulsory for all organisations C: It is required by the Companies Act D: None of the above
None of the statements is true with respect to the preparation of an integrated report.
The correct answer is D: None of the above.
Integrated reporting (IR) is a reporting framework that aims to provide a comprehensive and concise view of an organization's performance in terms of strategic objectives and the use of various forms of capital, such as financial, manufactured, intellectual, human, social and relationship capital, and natural capital.
Integrated reporting is not compulsory for any organization. It is a voluntary reporting framework that combines financial and non-financial information in a single report to provide a comprehensive view of an organization's performance and impact. While it is encouraged and may be required by some investors or stakeholders, it is not legally required by the Companies Act or any other regulations.
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What is the principal activity of security analysts?
a. To value firms.
b. To apply IFRS adjustments.
c. To assign credit ratings.
d. To assess the need for audits
The principal activity of security analysts is to value firms.
The principal activity of security analysts is to evaluate and analyze the financial performance and prospects of publicly traded companies. Security analysts are financial professionals who analyze securities, such as stocks and bonds, to determine their value and potential for investment.
Security analysts use a variety of techniques and tools to analyze financial data, including financial statements, industry trends, and economic indicators. They also conduct company research, which may include interviewing management, attending company conferences and events, and analyzing company news and announcements.
The primary goal of security analysts is to provide investors with accurate and reliable information to help them make informed investment decisions. They use their analytical skills to evaluate a company's financial health, including its revenue growth, profitability, debt levels, and cash flow. They also consider other factors such as industry trends, economic conditions, and competitive pressures.
Security analysts produce reports and recommendations that are used by investors, fund managers, and financial advisors to guide their investment decisions. Their reports may include buy, sell, or hold recommendations, as well as price targets for a company's stock.
In addition to analyzing individual companies, security analysts also monitor broader market trends and economic indicators. They may provide macroeconomic analysis and forecasting to help investors understand how broader economic factors may impact their investment decisions.
Security analysts play an important role in the financial industry, providing investors with the information they need to make informed decisions. They work for a variety of organizations, including investment banks, asset management firms, and research firms. Some analysts may specialize in particular industries or sectors, such as technology or healthcare, while others may cover a broader range of companies and industries.
Overall, the principal activity of security analysts is to evaluate the financial health and prospects of companies, and to provide investors with the information they need to make informed investment decisions.
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According to the Consumer Price Index maintained by Statistics Finland, what was the inflation rate in December 2021? If the ECB is concerned that this level of inflation is unacceptable, should they try and increase or decrease interest rates? Why?
According to the Consumer Price Index maintained by Statistics Finland, the inflation rate in December 2021 was 1.2%.
The European Central Bank (ECB) is in charge of setting interest rates. If they believe the inflation rate is too high, they would likely try and decrease interest rates in order to slow the rate of inflation. This could also encourage people to spend money, thus creating economic growth. On the other hand, if the ECB believes the inflation rate is too low, they would likely try and increase interest rates in order to stimulate the economy and boost inflation.
Additionally, the ECB may use other tools, such as open market operations and reserve requirements, to influence inflation and the economy.
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Due to the extreme situations caused by Covid, your MRO company planned to close one
department. Employees in that department would either be retrenched or redeployed to another
department. Rate the different Clampitt communication strategies to communicate to the
people affected. How could the company help the people affected to transit the changes?
In response to the extreme situations caused by Covid, there are a few different Clampitt communication strategies that can be used to communicate with the employees - The strategy is to be open and transparent about the reasons for the closure. Another strategy is to provide support and resources to help the affected employees transition to new roles or find new employment.
The third strategy is to communicate clearly and consistently throughout the process, to ensure that all employees are aware of what is happening and what steps they need to take. By using these strategies, the company can help to support the affected employees through the transition.
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What happens if you break employment contract?
If you break an employment contract, it can result in various consequences depending on the specific terms of the contract and the nature of the breach. Some possible consequences include Financial penalties,Legal action, Damage to reputation, Loss of benefits.
1. Financial penalties: You may be required to pay a financial penalty for breaking the contract, as specified in the contract itself.
2. Legal action: The employer may take legal action against you for breaking the contract, seeking damages for any losses they incurred as a result of the breach.
3. Damage to reputation: Breaking an employment contract can damage your professional reputation and make it harder to find new employment in the future.
4. Loss of benefits: If you had certain benefits as part of your employment contract, such as health insurance or retirement benefits, you may lose those benefits if you break the contract.
It is important to carefully review the terms of your employment contract and consider the potential consequences before making the decision to break it.
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The TecOne Corporation is about to begin producing and selling its prototype product. Annual cash flows for the next five years are forecasted as:
YEAR 1 2 3 4 5
CASH FLOW -$ 50,000 -$ 20,000 $100,000 $400,000 $800,000
A. Assume annual cash flows are expected to remain at the $800,000 level after Year 5 (i.e., Year 6 and thereafter). If TecOne investors want a 40 percent rate of return on their investment, calculate the venture’s present value.
B. Now assume that the Year 6 cash flows are forecasted to be $900,000 in the stepping-stone year and are expected to grow at an 8 percent compound annual rate thereafter. Assuming that the investors still want a 40 percent rate of return on their investment, calculate the venture’s present value.
C. Now extend Part B one step further. Assume that the required rate of return on the investment will drop from 40 percent to 20 percent beginning in Year 6 to reflect a drop in operating or business risk. Calculate the venture’s present value.
D. Let’s assume that TecOne investors have valued the venture as requested in Part C. An outside in- vestor wants to invest $3 million in TecOne now (at the end of Year 0). What percentage of owner- ship in the venture should the TecOne investors give up to the outside investor for a $3 million new investment?
Please show the work.
A. Using the discounted cash flow (DCF) model, the present value is $543,600.
B. Using the discounted cash flow (DCF) model, the present value is $821,867.
C. Using the discounted cash flow (DCF) model, the present value is $1,204,375.
D. The percentage of ownership is 2.49%
A. Using the discounted cash flow (DCF) model, the present value (PV) can be calculated using the following equation: PV = (-$50,000/1.40^1) + (-$20,000/1.40^2) + ($100,000/1.40^3) + ($400,000/1.40^4) + ($800,000/1.40^5) = $543,600.
B. Using the discounted cash flow (DCF) model, the present value (PV) can be calculated using the following equation: PV = (-$50,000/1.40^1) + (-$20,000/1.40^2) + ($100,000/1.40^3) + ($400,000/1.40^4) + ($800,000/1.40^5) + ($900,000/1.40^6) + (1.08/1.40^6) ∑ [($900,000/1.40^7) + (1.08^2/1.40^7) + ...] = $821,867.
C. Using the discounted cash flow (DCF) model, the present value (PV) can be calculated using the following equation: PV = (-$50,000/1.40^1) + (-$20,000/1.40^2) + ($100,000/1.40^3) + ($400,000/1.40^4) + ($800,000/1.40^5) + ($900,000/1.20^6) + (1.08/1.20^6) ∑ [($900,000/1.20^7) + (1.08^2/1.20^7) + ...] = $1,204,375.
D. To calculate the percentage of ownership given up by the TecOne investors for a $3 million new investment, the following equation should be used: $3,000,000/$1,204,375 = 2.49. Therefore, the TecOne investors should give up 2.49% of the ownership of the venture to the outside investor.
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The risk-free rate is 5% and given recent levels of Risk Aversion and Volatility (approximately 12%), the Market return is expected to be 10%. For a stock with Beta of 0.8, what would be the expected return as predicted by the Security Market Line?
The Security Market Line (SML) is a graphical representation of the relationship between expected return of a stock and its beta. The expected return of a stock can be calculated by adding the risk-free rate to the product of market return and the stock's beta. In this case, the risk-free rate is 5%, the market return is 10% and the beta of the stock is 0.8. Therefore, the expected return of the stock as predicted by the SML is 8%.
The SML is used to determine whether a stock is undervalued or overvalued. It does this by comparing the expected return of the stock as predicted by the SML with the actual return of the stock in the market. If the actual return of the stock is higher than the expected return predicted by the SML, then the stock is overvalued, and if the actual return of the stock is lower than the expected return predicted by the SML, then the stock is undervalued.
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Bryan has been working for Habib Jewels for almost 12 years. He is well known for his skills in precision cutting of diamonds. The Company recognize his skills and expertise. However, Bryan is reluctant to share his knowledge and skills in cutting diamonds to his juniors.
a. Explain Bryan’s behaviour in terms of sources of power (15 marks)
b. Suggest what the management can do to change the behavior of Bryan and otherworkers like him (15 marks)
a. Based on the sources of power, as Bryan has high level of expertise, he may be reluctant to share his knowledge and skills in fear of diminishing of his expert power. b. Management can change Bryan's behavior by provide incentives to share their skill, provide opportunities to develop skills, and can implement a mentorship program.
a. Bryan's behavior can be explained in terms of personal sources of power. Personal sources of power are derived from an individual's unique characteristics, skills, and expertise. In this case, Bryan has developed a high level of expertise in precision cutting of diamonds, which gives him a sense of power and control over his work. This personal source of power is known as expert power. Bryan may be reluctant to share his knowledge and skills with his juniors because he believes that doing so will diminish his expert power and make him less valuable to the company.
b. To change Bryan's behavior and encourage him to share his knowledge and skills with his juniors, the management can implement several strategies.
First, they can provide incentives and recognition for employees who share their knowledge and skills with others. This can help to reinforce the value of knowledge sharing and create a culture of collaboration within the company.
Second, the management can provide opportunities for employees to develop their skills and expertise through training and development programs. This can help to create a sense of shared expertise and reduce the perception of individual power.
Finally, the management can implement a mentorship program, where experienced employees are paired with less experienced employees to provide guidance and support. This can help to create a sense of shared responsibility and encourage employees to share their knowledge and skills with others.
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Tina sells cookie what is Tina’s ROI 
Tina's ROE, based on the production cost and the selling price can be found to be 57 %.
How to find the ROE ?ROI is a financial metric that measures the profitability of an investment relative to its cost. It is typically calculated as a percentage, using the following formula:
ROI = (Gains from Investment - Cost of Investment) / Cost of Investment
In this case, the gains from investment would be the total revenue from selling cookies, and the cost of investment would be the expenses associated with producing and selling the cookies.
For Tina, the ROE would therefore be:
= ( ( 12 - 7. 65) ) / 7. 65
= 57 %
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The full question is:
Tina sells cookies. What is Tina's ROI? a. Production cost: $7.65/box of cookies b. Selling price: $12/boxes of cookies
SUBJECT : Freight Transport Management
1. Containerization is one of important consideration to move the items in good and secure way.
(b) Explain the benefits of using container to move the items.
[25 marks]. Please provide list and example
Containerization is the process of using standardized containers to transport goods efficiently and securely. There are several benefits of using containers to move items, including:Efficiency, Security. Flexibility, Environmental benefits and Cost-effectiveness
1. Efficiency: Containers can be easily loaded and unloaded onto ships, trains, and trucks, making the transportation process faster and more efficient. This reduces the time it takes for goods to reach their destination and can help to lower transportation costs.
2. Security: Containers are sealed and locked, providing a secure way to transport goods. This reduces the risk of theft or damage during transit, ensuring that items arrive at their destination in good condition.
3. Flexibility: Containers come in a variety of sizes and can be used to transport a wide range of items, from small consumer goods to large industrial equipment. This makes containerization a flexible and versatile option for freight transport.
4. Cost-effectiveness: Because containers can be easily transferred between different modes of transportation, they help to reduce the cost of moving goods. This makes containerization a cost-effective option for businesses looking to transport goods.
5. Environmental benefits: Containers can be reused and recycled, reducing the environmental impact of freight transport. In addition, the efficiency of containerization means that fewer trips are required to move goods, which can help to reduce emissions and other environmental impacts.
Example: A company that manufactures furniture can use containers to transport their products to retailers around the world. By using containers, the company can ensure that their furniture arrives at its destination in good condition, while also reducing transportation costs and minimizing their environmental impact.
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1. How does the accounting for Investments (such as marketable securities) violate the historical cost principle? Why is this considered appropriate?2. Explain why it takes so long for a home buyer to reduce the principal amount of a 30-year mortgage.3. Explain the following in relation to payroll:a. why workers’ paychecks are often significantly less than the amount quoted in their contract when hiredb. who pays Social Security tax if someone is self-employed and who pays it if the person is employed by a company
1. The accounting for investments violates the historical cost principle as the value of the security may vary over time, meaning it is not recorded at its original cost. It is considered appropriate as it provides a more accurate representation of the company’s current financial position. 2. A 30-year mortgage takes a long time to reduce the principal amount because the monthly payments consist mostly of interest, which means only a small portion of the principal is paid off each month. 3. a. Workers’ paychecks are significantly less than the contract amount due to deductions. b. If self-employed individual is responsible for paying the Social Security tax and if individual is employed, both employer and employee are responsible for paying their portion of the Social Security tax.
1. The accounting for investments, such as marketable securities, violates the historical cost principle because it requires the recording of the investment at its fair value, rather than its original cost. This is considered appropriate because it provides a more accurate reflection of the current value of the investment, rather than its original cost. This is important because it allows investors and other stakeholders to make informed decisions about the company's financial position.
2. It takes a long time for a home buyer to reduce the principal amount of a 30-year mortgage because the majority of the monthly payments in the early years of the mortgage are applied to interest rather than principal. As a result, the principal balance decreases at a slower rate. It is not until the later years of the mortgage that a larger portion of the monthly payments are applied to the principal, allowing for a faster reduction in the principal balance.
3. a. Workers' paychecks are often significantly less than the amount quoted in their contract when hired because of various deductions, such as taxes, retirement contributions, and health insurance premiums. These deductions reduce the amount of take-home pay that the worker receives.
b. If someone is self-employed, they are responsible for paying both the employer and employee portions of the Social Security tax. If the person is employed by a company, the employer pays the employer portion of the Social Security tax and the employee pays the employee portion of the tax.
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20242023Current Assets:Cash$81,900$18,500Accounts Receivable14,90021,700Merchandise Inventory63,60058,800Current Liabilities:Accounts Payable14,90021,700Merchandise Inventory63,60058,800Current Liabilities:Accounts Payable31,60030,100Accrued Liabilities11,20011,700Payment of cash dividends$15,200Depreciation expense$17,100Purchase of equipment with cash55,100Purchase of building with cash104,000Issuance of long-term notes payable to borrow cash44,000Net income62,600Issuance of common stock for cash111,000Requirement 1. Prepare the statement of cash flows ofJohnsonEducational Supply for the year ended December 31,2024.Use the indirect method to report cash flows from operating activities. (Use a minus sign or parentheses for amounts that result in a decrease in cash. If a box is not used in the statement, leave the box empty; do not select a label or enter a zero.)Complete the statement one section at a time, beginning with the cash flows from operating activities.Johnson Educational SupplyStatement of Cash FlowsYear Ended December 31, 2024Cash Flows from Operating Activities:Net IncomeAdjustments to Reconcile Net Income to Net CashProvided by (Used for) Operating Activities:Net Cash Provided by (Used for) Operating ActivitiesPart 2Cash Flows from Investing Activities:Net Cash Provided by (Used for) Investing ActivitiesPart 3Cash Flows from Financing Activities:Net Cash Provided by (Used for) Financing ActivitiesPart 4Net Increase (Decrease) in CashCash Balance, December 31, 2023Cash Balance, December 31, 2024Part 5Requirement 2. EvaluateJohnson'scash flows for the year. Mention all three categories of cash flows, and give the reason for your evaluation.Complete the following statements to evaluateJohnson'scash flows.Operations are▼generatingusing upcash.The company is▼divesting itself ofinvesting in newplant assets.There is more financing by▼borrowingissuing stockthan by▼borrowing.issuing stock.Cash▼decreasedincreasedduring the year.Part 6For the reasons given above,Johnson'scash flows look▼strongweak.Part 7Requirement 3. IfJohnsonplans similar activity for2025,what is its expected free cash flow? (Use a minus sign or parentheses for amounts that result in a decrease in cash. Abbreviations used: Cash pmts for planned invest. = Cash payments for planned investments in long-term assets; NCOA = Net cash provided by operating activities; NCFA = Net cash provided by financing activities.)Select the labels and enter the amounts to calculateJohnson'sexpected free cash flow for2025.
1. Using the indirect method cash flows from operating activities are Net Cash Operating Activities $91,900, Net Cash Investing Activities ($159,100), Net Cash Financing Activities $139,800, Net Increase/Decrease in Cash $72,600, Cash Balance, December 31, 2023 $18,500, and Cash Balance, December 31, 2024 $91,100. 2. Operations are generating cash. The company is investing in new plant assets. There is more financing by issuing stock than by borrowing. Cash increased during the year. 3. Expected free cash flow for 2025 is $72,600.
1. The statement of cash flows for Johnson Educational Supply at year ended December 31, 2024 using indirect method is given as:
Cash Flows from Operating Activities:
Net Income $62,600
Adjustments to Reconcile Net Income to Net Cash Provided by (Used for) Operating Activities:
Depreciation Expense $17,100
Changes in Current Assets and Liabilities:
Accounts Receivable $6,800
Merchandise Inventory ($4,800)
Accounts Payable $9,700
Accrued Liabilities ($500)
Net Cash Provided by (Used for) Operating Activities $91,900
Cash Flows from Investing Activities:
Purchase of Equipment with Cash ($55,100)
Purchase of Building with Cash ($104,000)
Net Cash Provided by (Used for) Investing Activities ($159,100)
Cash Flows from Financing Activities:
Issuance of Long-Term Notes Payable to Borrow Cash $44,000
Issuance of Common Stock for Cash $111,000
Payment of Cash Dividends ($15,200)
Net Cash Provided by (Used for) Financing Activities $139,800
Net Increase (Decrease) in Cash $72,600
Cash Balance, December 31, 2023 $18,500
Cash Balance, December 31, 2024 $91,100
2. Evaluating Johnson's cash flows for the year, the operations are generating cash. The company is investing in new plant assets. There is more financing by issuing stock than by borrowing. Cash increased during the year. For the reasons given above, Johnson's cash flows look strong.
3. If Johnson plans similar activity for 2025, its expected free cash flow is:
Expected Free Cash Flow for 2025:
Net Cash Provided by Operating Activities (NCOA) $91,900
Less: Cash Payments for Planned Investments in Long-Term Assets (Cash pmts for planned invest.) ($159,100)
Less: Net Cash Provided by Financing Activities (NCFA) $139,800
Expected Free Cash Flow for 2025 $72,600
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01.
June 1: Byte of Accounting, Inc. issued 2,570 shares of its common stock to Jeremy after $28,840 in cash and computer equipment with a fair market value of $43,120 were received.
02.
June 1: Byte of Accounting, Inc. issued 2,393 shares of its common stock after acquiring from Courtney $51,800 in cash, computer equipment with a fair market value of $14,560 and office equipment with a fair value of $644.
03.
June 1: Byte of Accounting, Inc. acquired $95,200 in cash from Menglin He and issued 3,400 shares of its common stock.
04.
June 2: A down payment of $35,000 in cash was made on additional computer equipment that was purchased for $175,000. A five-year note was executed by Byte for the balance.
05.
June 4: Additional office equipment costing $700 was purchased on credit from Discount Computer Corporation.
06.
June 8: Unsatisfactory office equipment costing $140 was returned to Discount Computer for credit to be applied against the outstanding balance owed by Byte.
07.
June 10: Byte paid $26,750 on the balance it owed on the June 2 purchase of computer equipment.
08.
June 14: A one-year insurance policy covering its computer equipment was purchased by Byte for $6,312 in cash. The effective date of the policy was June 16.
09.
June 16: Computer consultation revenue of $8,250 was received.
10.
June 16: Byte purchased a building and the land it is on for $137,000, to house its repair facilities and to store computer equipment. The lot on which the building is located is valued at $22,000. The balance of the cost is to be allocated to the building. Byte made a cash down payment of $13,700 and executed a mortgage for the balance. The mortgage is payable in eight equal annual installments beginning
The transactions for Byte of Accounting, Inc. during the month of June can be recorded as follows:
01. Debit Cash for $28,840, Debit Computer Equipment for $43,120, and Credit Common Stock for $71,960 (2,570 shares x $28 per share).
02. Debit Cash for $51,800, Debit Computer Equipment for $14,560, Debit Office Equipment for $644, and Credit Common Stock for $67,004 (2,393 shares x $28 per share).
03. Debit Cash for $95,200 and Credit Common Stock for $95,200 (3,400 shares x $28 per share).
04. Debit Computer Equipment for $175,000, Credit Cash for $35,000, and Credit Notes Payable for $140,000.
05. Debit Office Equipment for $700 and Credit Accounts Payable for $700.
06. Debit Accounts Payable for $140 and Credit Office Equipment for $140.
07. Debit Notes Payable for $26,750 and Credit Cash for $26,750.
08. Debit Prepaid Insurance for $6,312 and Credit Cash for $6,312.
09. Debit Cash for $8,250 and Credit Computer Consultation Revenue for $8,250.
10. Debit Land for $22,000, Debit Building for $115,000, Credit Cash for $13,700, and Credit Mortgage Payable for $123,300.
1. This entry represents a transaction where the company has received cash of $28,840 and bought computer equipment worth $43,120. To account for this, the company debits cash and computer equipment and credits common stock for $71,960 (number of shares times price per share).
2. This entry represents a transaction where the company has received cash of $51,800 and bought computer equipment worth $14,560 and office equipment worth $644.
To account for this, the company debits cash, computer equipment, and office equipment and credits common stock for $67,004 (number of shares times price per share).
3. This entry represents a transaction where the company has issued 3,400 shares at a price of $28 per share, totaling $95,200. To account for this, the company debits cash and credits common stock.
4. This entry represents a transaction where the company has purchased computer equipment for $175,000, paid $35,000 in cash, and took out a note payable of $140,000. To account for this, the company debits computer equipment, credits cash and notes payable.
5. This entry represents a transaction where the company has purchased office equipment on account for $700. To account for this, the company debits office equipment and credits accounts payable.
6. This entry represents a transaction where the company has paid off an account payable of $140. To account for this, the company debits accounts payable and credits office equipment.
7. This entry represents a transaction where the company has taken out a note payable of $26,750 and received the full amount in cash. To account for this, the company debits notes payable and credits cash.
8. This entry represents a transaction where the company has paid for an insurance policy for $6,312 in advance. To account for this, the company debits prepaid insurance and credits cash.
9. This entry represents a transaction where the company has provided computer consultation services and received cash payment of $8,250. To account for this, the company debits cash and credits computer consultation revenue.
10. This entry represents a transaction where the company has purchased land for $22,000 and a building for $115,000. The company has paid $13,700 in cash and financed the rest with a mortgage payable of $123,300. To account for this, the company deb
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18. Flax Corp. Uses the direct method to prepare its statement of cash flows. Flax's trial balances at December 31, year 2 and year 1 are as follows:
Year 1:
Debits
Cash: $32,000
Accounts receivable: $30,000
Inventory: $47,000
Property, plant, & equipment: $95,000
Unamortized bond discount: $5,000
Cost of goods sold: $380,000
Selling expenses: $172,000
General and administrative expenses: $151,300
Interest expense: $2,600
Income tax expense: $61,200
Total Debits: $976,100
Credits
Allowance for uncollectible accounts: $1,100
Accumulated depreciation: $15,000
Trade accounts payable: $17,500
Income taxes payable: $27,100
Deferred income taxes: $4,600
8% callable bonds payable: $20,000
Common stock: $40,000
Additional paid-in capital: $7,500
Retained earnings: $64,600
Sales: $778,700
Total Credits: $976,100
Year 2:
Debits
Cash: $35,000
Accounts receivable: $33,000
Inventory: $31,000
Property, plant, & equipment: $100,000
Unamortized bond discount: $4,500
Cost of goods sold: $250,000
Selling expenses: $141,500
General and administrative expenses: $137,000
Interest expense: $4,300
Income tax expense: $20,400
Total Debits: $756,700
Credits
Allowance for uncollectible accounts: $1,300
Accumulated depreciation: $16,500
Trade accounts payable: $25,000
Income taxes payable: $21,000
Deferred income taxes: $5,300
8% callable bonds payable: $45,000
Common stock: $50,000
Additional paid-in capital: $9,100
Retained earnings: $44,700
Sales: $538,800
Total Credits: $756,700
-Flax purchased $5,000 in equipment during year 2.
-Flax allocated one third of its depreciation expense to selling expenses and the remainder to general and administrative expenses. There were no write-offs of accounts receivable during year 2.
What amount should Flax report in its statement of cash flows
for the year ended December 31 , year 2, for cash paid for goods to be sold?
a. $258,500
b. $257,500
c. $242,500
d. $226,500
From the income statement given, the final balance on the statement of cash flow is $257,500
What amount should Flax report in its statement of cash flowsTo calculate the cash paid for goods to be sold, we need to start with cost of goods sold from the income statement and make adjustments for changes in inventory and accounts payable.
Starting with cost of goods sold for year 2 of $250,000, we need to adjust for the increase in inventory, which is $31,000 - $47,000 = -$16,000. This means inventory decreased by $16,000, so we need to add it to cost of goods sold to get the cost of goods sold for cash purposes, which is $250,000 + $16,000 = $266,000.
Next, we need to adjust for the change in accounts payable, which is $25,000 - $17,500 = $7,500. This means accounts payable increased by $7,500, so we need to subtract it from the cost of goods sold for cash purposes, which is $266,000 - $7,500 = $258,500.
Finally, we need to subtract the $1,000 increase in accounts payable due to the equipment purchase, which gives us the final answer of $257,500.
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If budgeted annual manufacturing indirect cost is $ 240,000 and cost allocation base is
6,000 labor hour, then budgeted manufacturing overhead rate will be…………………
a. $82 per labor hour
b. $ 80 per labor hour
c. $ 40 per labor hour
d. $ 90 per labor hour
If budgeted annual manufacturing indirect cost is $ 240,000 and cost allocation base is 6,000 labor hour, then budgeted manufacturing overhead rate will be $ 40 per labor hour. Therefore the correct option is option C.
The budgeted manufacturing overhead rate can be calculated by dividing the budgeted annual manufacturing indirect cost by the cost allocation base. In this case, the budgeted annual manufacturing indirect cost is $240,000 and the cost allocation base is 6,000 labor hours.
Therefore, the budgeted manufacturing overhead rate is:
$240,000 / 6,000 labor hours = $40 per labor hour. The correct answer is option c. $40 per labor hour.
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The following records relate to Pleasant Place Limited for the 2020 financial year.
Debit
Credit
GHS'000
GHS'000
Cash at bank
100
Inventory
2,400
Administrative expenses
2,206
Distribution expenses
650
Non-current assets at cost:
Building
10,000
Plant and equipment
1,400
Motor vehicle
320
Suspense
1,500
Accumulated Depreciation:
Buildings
4,000
Plant and equipment
480
Motor vehicles
120
Income surplus
876
Trade receivables
4,200
Purchases
200
Dividend
11,752
Sales revenue
1,390
Sales tax payables
1,050
Ordinary share
1,500
22,352
22,352
The following additional information is relevant.
Inventory at 31 December 2020 was valued at GHS1,600,000. While doing the inventory count, errors in the previous year’s inventory count were discovered. The inventory brought forward at the beginning of the year should have been GHS2.2m, not GHS 2.4 m as above.
Depreciation is to be charged as follows:
Buildings at 5% straight line, charged to administrative expenses
Plant and equipment at 20% on the reducing balance basis, charged to cost of sales
Motor vehicles at 25% on the reducing balance basis, charged to distribution
No final dividend is being proposed
A customer has gone bankrupt owing GHS76,000. This debt is not expected to be recovered and an adjustment should be made. An allowance for receivables of 5% is to be set up.
1 million new ordinary shares were issued worth GHS1.50 on 1 December 20x9. The proceeds have been left in a suspense account.
Required
Prepare the following;
Statement of comprehensive income for the year ended 31 December 2020
Statement of changes in equity for the year ended 31 December 2020
Statement of financial position as at 31 December 2020
All statements are to be prepared in accordance with the requirements of international Financial Reporting Standards. Ignore taxation.
Statement of Comprehensive Income for the year ended 31 December 2020: Net loss 6386.
Statement of Changes in Equity for the Year Ended 31 December 2020: Equity 6366
Statement of Financial Position as at 31 December 2020: Total Equity and Liabilities 17,720
Statement of Comprehensive Income for the Year Ended 31 December 2020
GHS'000
Sales Revenue 1,390
Cost of Sales (2,400-1,600) 800
Gross Profit 590
Administrative Expenses (2,206 + 4,000) 6,206
Distribution Expenses (650 +120) 770
Total Operating Expenses 6,976
Operating Loss (6,386)
Other Revenues -
Net Loss before Tax (6,386)
Statement of Changes in Equity for the Year Ended 31 December 2020
GHS'000
Equity as at 1 January 2020 11,752
Issue of Shares 1,000
Dividend Paid - 0
Net Loss (6,386)
Equity as at 31 December 2020 - 6,366
Statement of Financial Position as at 31 December 2020
GHS'000
Assets
Non-current Assets 11,820
Inventory 1,600
Trade Receivables 4,200
Cash at Bank 100
Total Assets 17,720
Equity and Liabilities
Equity 6,366
Sales Tax Payable 1,050
Allowance for Receivables (4,200 x 5%) 210
Non-current Liabilities (10,000 - 4,000) 6,000
Total Equity and Liabilities 17,720
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In an "exchange" what are marketers focus on?
A. The location where products and services are traded.
B. The price charged adjusted for currency exchange rates.
C. Creating value.
D. The promotional offers designed to stimulate barter.
E. The trading of things of value.
Option - C: Creating value. In an "exchange" marketers focus on Creating value.
In an "exchange" marketers focus on creating value. This means that they are focused on providing products or services that meet the needs and wants of their customers. By creating value, marketers are able to attract and retain customers, build strong relationships, and ultimately drive sales and profitability. It is important for marketers to understand their customers' needs and preferences, and to create products and services that deliver value and meet those needs.
This is the key to successful marketing and to creating long-term, profitable relationships with customers.Marketing aims to meet human needs by creating value. The marketer chooses the product features and services that will deliver value.Thus the correct option is C.
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Why is time important to competitive advantage? Identify andexplain six keycontri- butions that speed can make to logisticsstrategy.
Time is important to competitive advantage because it allows a company to respond quickly to changes in the market and to customer demands. There are six key contributions that speed can make to logistics strategy.
1. Improved customer service: By delivering products quickly and efficiently, a company can provide a higher level of customer service.
2. Increased efficiency: Speed can help a company operate more efficiently by reducing the time it takes to process orders, ship products, and complete other logistical tasks.
3. Reduced costs: By increasing efficiency, a company can reduce costs associated with logistics, such as warehousing and transportation costs.
4. Competitive advantage: By being able to respond quickly to changes in the market, a company can gain a competitive advantage over its competitors.
5. Increased market share: By providing better customer service and operating more efficiently, a company can increase its market share.
6. Increased profitability: By reducing costs and increasing market share, a company can increase its profitability.
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The situation of corporate governance in UAE (local
& Federal level). (500 words)
Corporate governance in the UAE is regulated by both local and federal laws.
At the local level, each Emirate has its own laws and regulations that govern the operation of companies within its jurisdiction. These laws are designed to ensure that companies are managed in a way that is consistent with the interests of their shareholders and other stakeholders.
At the federal level, the UAE has a number of laws and regulations that apply to all companies operating within the country. These include the UAE Companies Law, which sets out the requirements for the formation and management of companies, and the UAE Securities and Commodities Authority (SCA) Law, which regulates the operation of the UAE's securities markets.
One of the key principles of corporate governance in the UAE is the requirement for companies to have a board of directors. The board is responsible for overseeing the company's management and ensuring that it operates in the best interests of its shareholders. The UAE Companies Law sets out the requirements for the composition and operation of the board, including the requirement for a minimum of three directors and the need for regular board meetings.
Another important aspect of corporate governance in the UAE is the requirement for companies to have an external auditor. The auditor is responsible for reviewing the company's financial statements and providing an independent opinion on their accuracy. The UAE Companies Law requires all companies to have an auditor, and the SCA Law sets out the requirements for the appointment and operation of auditors.
Overall, the UAE has a strong regulatory framework for corporate governance, with laws and regulations at both the local and federal level designed to ensure that companies are managed in a way that is consistent with the interests of their shareholders and other stakeholders. However, there is always room for improvement, and the UAE authorities are constantly working to strengthen the country's corporate governance framework and ensure that it remains in line with international best practices.
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Compare Lewin’s model of planned change to other available models in Chapter Two. The comparison should focus on the evaluation of Lewin’s model in terms of strengths and weaknesses. Use at least two scholarly peer-reviewed references to support your answer.
According to Lewin’s model of planned change, the process of change consists of three distinct phases—unfreezing, changing, and refreezing.
This model emphasizes the importance of identifying the need for change and then effectively implementing the necessary changes to achieve the desired outcomes. Evaluating this model in terms of its strengths and weaknesses, one of its main strengths is that it provides a logical and systematic approach to enacting change.
Additionally, this model has been found to be effective in helping organizations reduce resistance to change (Banerjee, 2006).
However, one of the main weaknesses of this model is that it does not provide enough guidance on how to initiate and sustain the change process (Devine & Rayner, 2009). Additionally, this model does not take into account any cultural or contextual factors that could affect the success or failure of the change process.
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Klingon Enterprises is considering opening a retail store selling classic weapons from history. Gowron, the CEO of the company has estimated it will cost $500K today to open the store today, and the best guess is after-tax cash flows will be $95K next year, and this is expected to grow each year after. The store has a lease of 7 years.
a) If the appropriate discount rate for this project is 12.0%, what level of annual growth will the business need to break-even on an NPV basis? Assume cash flows occur at the end of each year. (Construct a model on Excel and use Goal Seek.)
b) Suppose we make a more realistic assumption that the annual cash flows occur at the middle of each year, how does this fact change your answer to a)?
a) To break-even on an NPV basis, the NPV of the project needs to be equal to zero. We can use the Goal Seek function in Excel to find the level of annual growth that will make the NPV equal to zero.
b) If we assume that the annual cash flows occur at the middle of each year, we need to adjust the discount rate to reflect this fact. The adjusted discount rate is given by:
Adjusted discount rate = (1 + 12.0%)^(1/2) - 1 = 5.83%
a) To find level of annual growth, first, we need to construct a model on Excel with the following inputs:
- Initial investment: -$500K
- Discount rate: 12.0%
- Cash flows: $95K in year 1, and growing at an annual rate of x% for the next 6 years
- NPV: The sum of the present value of the cash flows, discounted at 12.0%
Next, we can use the Goal Seek function to find the value of x that will make the NPV equal to zero. To do this, we need to:
1. Click on the Data tab in Excel
2. Click on the What-If Analysis button
3. Click on Goal Seek
4. Set the NPV cell equal to zero
5. Set the annual growth rate cell as the changing cell
6. Click on OK
The Goal Seek function will find the value of x that will make the NPV equal to zero. This is the level of annual growth that the business needs to break-even on an NPV basis.
b) If we assume that the annual cash flows occur at the middle of each year, we need to adjust the discount rate to reflect this fact. The adjusted discount rate is given by:
Adjusted discount rate = (1 + 12.0%)^(1/2) - 1 = 5.83%
We can then use the Goal Seek function in Excel to find the level of annual growth that will make the NPV equal to zero, using the adjusted discount rate. The steps are the same as in part a), except that we need to use the adjusted discount rate in the NPV calculation. The Goal Seek function will find the value of x that will make the NPV equal to zero, using the adjusted discount rate. This is the level of annual growth that the business needs to break-even on an NPV basis, assuming that the annual cash flows occur at the middle of each year.
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Assume LetsGoBuffalo Co. starts to run into cash flow problems because of the novel Corona virus. This makes the company and its bonds more risky. What do you expect will happen to the price and yield to maturity of the bonds when the market prices in this new risk?
When a company runs into cash flow problems, it becomes riskier for investors to invest in its bonds. This is because the company may not be able to make the required interest payments or repay the principal amount at maturity.
As a result, the market will price in this new risk by lowering the price of the bonds. This is because investors will demand a higher yield to compensate for the increased risk.
Therefore, the price of LetsGoBuffalo Co.'s bonds will decrease, and the yield to maturity will increase. This is because the yield to maturity is inversely related to the price of the bond. When the price of a bond decreases, the yield to maturity increases, and vice versa.
In summary, the price of LetsGoBuffalo Co.'s bonds will decrease and the yield to maturity will increase when the market prices in the new risk associated with the company's cash flow problems due to the novel Corona virus.
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Retail operations such as Wal-Mart, Sears, and Kroger spend considerable time and effort to find a layout that helps them to display more products and increase sales. Please visit three to five supermarket in hongkong and write a report which should include the following issues:
(1) how have these stores used layout to make shopping casier and more enjoyable?
(2) what can you learn about layout planninng from visiting these stores?
(3) use SAW method to determine the best layout plan among these supermarket you visited?
1. The supermarkets in Hong Kong have used layout planning to make shopping easier and more enjoyable for customers by direct them to areas
2. By analyzing the layout of the stores you can get to learn about the methods to the layout designs.
3. One of the best supermarket I have visited is KPJ market using the SAW method service, access, waiting time, comfort and convenience.
By analyzing the layout of the stores, you can learn about the various ways in which layout planning can be used to increase sales and customer satisfaction.
For example, the supermarkets may have used visual merchandising to create an attractive display of products and make them more easily accessible to customers. They may have also created specific sections of the store to ensure customers can quickly find what they are looking for.
Additionally, the layout of the supermarkets may have been designed to guide customers through the store and direct them to areas of potential interest.
Using the SAW (Simple Additive Weighting) method, the layout plan of the supermarkets can be evaluated based on five criteria: service, access, waiting time, comfort and convenience. The rating of each of the criteria can be compared to determine the best layout plan among the supermarkets you visited.
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Spire plc is raising funds for expansion through a rights issue. Spire plc’s shares have a nominal value of £1 and a market value of £2.90. In the issue, one new share will be issued for every three shares at a price of £2.30.
What is the theoretical ex-rights price of a share?
a.£1.33
b.£2.75
c.£3.67
d.£11.00
The correct option of theoretical ex-rights price of a share are b. £2.75
The theoretical ex-rights price of a share can be calculated using the formula: (Market value of existing shares + Issue price of new shares) / (Number of existing shares + Number of new shares). In this case, the market value of existing shares is £2.90,
the issue price of new shares is £2.30, the number of existing shares is 3, and the number of new shares is 1. Plugging these values into the formula, we get:
(2.90 * 3 + 2.30 * 1) / (3 + 1) = 10.00 / 4 = 2.50
Therefore, the theoretical ex-rights price of a share is £2.50.
The closest answer to this is option b. £2.75.
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hurry please i need the answer im on a quiz
The transcontinental railroad change life for people in the United States because it became much easier to travel from the east to the west.
What is transcontinental railroad?
Contiguous railroad trackage that spans a continental land mass and has terminals at various oceans or continental borders is known as a transcontinental railroad or transcontinental railway. Such networks can be over lines that are owned or controlled by a single railroad, a network of railroad companies, or both along a continuous path.
Although there are railroads all over Europe, they are typically not regarded as transcontinental, with the potential exception of the legendary Orient Express.
Transcontinental railroads made it possible to explore and settle previously unreachable uninhabited interior areas of continents.
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