Answer:
Debit to Bad Debt Expense Account for $7,200
Explanation:
Based on the information given we were told that the company accounts receivable shows the estimate of uncollectible receivables of the amount of $7,900 which means that if the Allowance for Doubtful Accounts has an amount of $700 as a credit balance, the adjustment to record the bad debt expense will be :
Debit to Bad Debt Expense account for the amount $7,200 calculate as :
Uncollectible receivables totals $7,900-Allowance for Doubtful Accounts $700 =$7,200
(7,900 - 700 )
Jamie is a 47-year-old accountant who has worked for a large software firm for more than 25 years. His performance during this time has been exceptional, and he is highly regarded by his peers. Despite this, he is notified that he is being laid off as the management wants to replace him with a younger employee. In this scenario, the management of Jamie's firm is violating _____.
Answer:
Title VII of the Civil Rights Act of 1964.
Explanation:
Jamie's firm in the given scenario is violating 'Title VII of the Civil Rights Act of 1964.' According to this law, any organization is prohibited to discriminate against its employees on the basis of age, race, religion, etc. The employer can not recruit someone favorably and treat an employee differently. Since his organization is intentionally discriminating against him despite his exceptional performance and contribution to the progress of the firm, thus, it is violating the title vii of the Civil rights act.
Herb Kelleher, founder and long-time chief executive officer of Southwest Airlines, was known for inspiring and motivating his employees. He related well to people within and outside the Southwest Airlines organization. Herb Kelleher had good ____ skills.
Answer:
Interpersonal Skills
Explanation:
Interpersonal skill is the skill that connects one person with other due to the employee's behavior which helps him to get along with others. In other words, when we talk about interpersonal skills we are actually talking about the excellent way of interacting with people that results in better relation, respect, better job environment, motivation of employees, etc.
In this case, Herb Kelleher, the CEO has better relations with his company employees as he interact with the people well which is interpersonal skills.
Austin's total fixed cost at the bakery is $3,600 a month. Austin employs 20 workers and pays each worker $8 an hour. The marginal product of the twentieth worker is 12 iced cupcakes an hour. What is the marginal cost of the last cupcake produced by the last worker Austin hired?
Answer:
$0.66
Explanation:
Marginal cost is the cost of producing one extra unit of a product.
if each worker is paid $8, then the marginal cost of producing the last cupcake = $8 / 12 = $0.66
Long-term contracts for both warehousing and transportation requirements will be more effective if the demand and price of warehousing do not change in the future or if the price of warehousing goes up.
a) true
b) false
Answer:
true
Explanation:
long term means it will be used for a long time thus if the price is not constant and keeps rising it wont be effective
"XYZZ ADR represents 10% of the value of an XYZZ ordinary share. The ordinary shares trade on the London Stock Exchange, where the current price is 400 British Pounds (BP). The current exchange rate for the British Pound against the U.S. Dollar is $1.40. The ordinary share pays an annualized dividend of 12 BP, with payment made semi-annually. The XYZZ ADR is listed on the NYSE. If a customer places an order to buy $560,000 of the ADR on the NYSE, how much will the customer receive in each dividend payment?"
Answer:
$8,400
Explanation:
XYZZ ADR = 10% XYZZ ordinary share
Current price of ordinary shares trade = 400 British pounds
Pounds rate against the dollar = $1.40
Annualized Dividend pay = 12 pounds paid semianually
Dividend to be received on the purchase of $560,000 worth of ADR
Therefore ;
To calculate worth of XYZZ ADR
Dollar value of £400
400 * 1.4 = $560
10% of $560 = 10* 560 = $56 per ADR
Therefore, semiannual Dividend payed :
£12 / 2 = £6 every 6 months ; which is equivalent to (£6 * 10%) = £0.6 per ADR
Equivalent dollar value :
0.6 * $1.4 = $0.84 per ADR
AMOUNT OF ORDER TO BE PLACED / price per ADR
$560,000 / $56 = 10,000 shares
Dollar value of Dividend payed per share = $0.84
Dividend customer will receive :
10,000 * $0.84 = $8,400
Which of the following is true of the strategic trade theory? a. It advocates complete deregulation of international trade. b. It explains patterns of trade based on factor endowments. c. It provides direct policy advice. d. It is the first theory to account for dynamic changes in trade patterns.
Answer: c. It provides direct policy advice
Explanation:
Strategic trade policy is a government policy whereby the excess profit that an oligopolistic international market generates will be shifted towards the firms that are in the home country.
The argument for strategic trade policy is that it help companies to take advantage of the economies of scale and also provides direct policy advice.
The following expenditures were incurred by Wildhorse Co. in purchasing land: cash price $83,000, accrued taxes $4,900, attorneys’ fees $3,400, real estate broker’s commission $1,700, and clearing and grading $3,600. What is the cost of the land? Cost of the land $enter the cost of the land in dollars
Answer: $ 96,600
Explanation:
Given, The following expenditures were incurred by Wildhorse Co. in purchasing land:
Cash price $83,000
Accrued taxes $4,900
Attorneys’ fees $3,400
Real estate broker’s commission $1,700
Clearing and grading $3,600.
Then, the cost of the land = Cash price + Accrued taxes + Attorneys’ fees + Real estate broker’s commission + Clearing and grading
= $(83,000 + 4,900 + 3,400 + 1,700 + 3,600)
= $ 96,600
Hence, Cost of the land = $ 96,600
You are the production manager for the toy manufacturing process at the abc company. lumber company right arrow→ abc toy manufacturing company right arrow→ toy store at the mall an example of an internal supplier is
a. the toy store at the mall.
b. the receiving department at abc.
c. the shipping department at abc.
d. the lumber company.
Answer:
b. the receiving department at abc.
Explanation:
The given production process involves a process flow from Lumber Company to ABC Toy Manufacturing to Toy Store at the Mall.
The Lumber company and Toy Store are external parties in this process, with Lumber Company being the External Supplier and Toy Store at the Mall being the External Customer.
Internally we have the Receiving Department at ABC, that receives input from the Lumber Company. Processes it and sends to the Shipping Department.
Therefore internally the Receiving Department at ABC is the supplier to the Shipping Department.
Kevin is maximizing his utility consumption of almond butter sandwiches and sushi. There is a boom in fish in the summer and the price of sushi suddenly drops. What will the price change most likely change in Kevin's consumption behavior? Group of answer choices Kevin will stick to his original indifference curve to a point intersecting the new budget constraint. Kevin's budget constraint and indifference curves will not change since the price of sushi has not changed Kevin will change his new budget constraint to be tangent to the original indifference curve at some point. Kevin will increase consumption with the bundle of goods at a new higher indifference curve tangent to the new budget constraint.
Answer:
Kevin will increase consumption with the bundle of goods at a new higher indifference curve tangent to the new budget constraint.
Explanation:
Kevin's consumption possibilities frontier basically shows the budget constraint that Kevin faces when deciding what to purchase. It also represents the opportunity cost of consuming one product instead of another.
If the price of one of the products changes, then the whole consumption possibilities change and a new bundle of goods will be available.
E.g. Kevin had $10, sushi costs $5 and sandwiches cost $5. He can either buy 1 sushi and 1 sandwich, 2 sushis or 2 sandwiches. If the price of sushi decreases to $2.50, then Kevin's options increase. He can now purchase 2 sushis and 1 sandwich, 2 sandwiches or up to 4 sushis.
The cost to manufacture one unit of Killian Audio Products' best-selling hearing aid, the Zone, is $67.50. The CFO of the company determines that if the company expands the output of its biggest U.S. plant by 20 percent, the unit cost would be only $42.50. This analysis is based on the concept of
Answer:
Economies of scale
Explanation:
Economies of scale refers to reducing total costs per unit by increasing total output. All companies have certain fixed costs, some companies have higher fixed costs than others, but they always exist. When you are producing something, the cost equation is production costs = variable costs per unit + average fixed costs per unit.
Variable costs vary directly with output, while fixed costs do not, e.g. salaries can be fixed, depreciation, rent, interests, etc. The higher the output, the lower the average fixed cost per unit.
Also, sometimes variable costs can also decrease as total output increases. E.g. you can get higher discounts for purchasing larger quantities of materials and supplies.
At midyear, Barbara, the manager of a store, realizes that the new outlet mall with 300 stores down the street is taking much of the sales away from her store, so she will need to revise the sales goals of her sales associates. Barbara is in what stage of the MBO process
Answer: Stage four
Explanation:
MBO Stage four which is the performance evaluation stage. By reavluating the sales goals of her associates Barbra is in the performance evaluation stage of MBO better known as stage four. The performance evaluation review is usually carried out by the participating manager in this case which happens to be Barbra, it is used to check for performance related informations.
Consider the following payoff matrix facing two criminals. A: Confess A: Not Confess B: Confess A: 20yrs, B: 20yrs A: 50yrs, B: 2yrs B: Not Confess A: 2yrs, B: 50yrs A: 10yrs, B: 10yrs Their options are to confess or not to confess. Given this information:
Answer:
Both A and B have dominant strategies
Explanation:
Consider 2 players "A" and "B" in the specified game. Here, row player is "B" and column player is "A." If "B" chooses "Confess" then "Not Confess" is the optimal choice for "A," because 50 > 20, likewise if "B" chooses "Not Confess," then "Not Confess" is the optimal choice for "A," as 10 > 2. Therefore, we can see that the "Not Confess" is the dominant "A" strategy Similarly we can prove that the prevailing technique for "B" is "Not Confess" too.
Hence, we can see that both player 's approach is successful and from the above explanation, the 2nd option is correct.
A coupon bond that pays semiannual interest is reported in the Wall Street Journal as having an ask price of 116% of its $1,000 par value. If the last interest payment was made 3 months ago and the coupon rate is 5.90%, the invoice price of the bond will be _________.
Answer:
1,172.50
Explanation:
Calculation for the invoice price
Since Semiannual is 6 month and the last interest payment was made 3 months ago that means we would have 3 months left.
Using this formula
Invoice price = Flat rate + Accrued interest
let plug in the formula
Invoice price = 1.16(1,000) + 25.00(3/6)
Invoice price=1,160+12.5
Invoice price=1,172.50
Therefore the invoice price will be 1,172.50
ACold Inc. Is a frozen-food distributor with 10 warehouses across the country. Ivan Tory, one of the warehouse managers, wants to make sure that the inventory policies used by the warehouse are minimizing inventory while still maintaining quick delivery to ACold's customers. Because the warehouse carries hundreds of different products, Ivan decided to study one. He picked Caruso's Frozen Pizza (CFP). Demand for CFPs averages 400 per day with a standard deviation of 152. Because ACold orders at least one truck from its supplier each day, ACold can essentially order any quantity of CFP it wants each day. In fact, ACold's computer system is designed to implement an order-up-to policy for each product. Ivan notes that any order for CFPs arrives four days after the order.
ACold Inc. Is a frozen-food distributor with 10 warehouses across the country. Ivan Tory, one of the warehouse managers, wants to make sure that the inventory policies used by the warehouse are minimizing inventory while still maintaining quick delivery to ACold's customers. Because the warehouse carries hundreds of different products, Ivan decided to study one. He picked Caruso's Frozen Pizza (CFP). Demand for CFPs averages 400 per day with a standard deviation of 152. Because ACold orders at least one truck from its supplier each day, ACold can essentially order any quantity of CFP it wants each day. In fact, ACold's computer system is designed to implement an order-up-to policy for each product. Ivan notes that any order for CFPs arrives four days after the order.
Suppose it uses an order up to level of 2410. What is its expected on-hand inventory?
Answer:
The expected Inventory on -hand = 429.074
Explanation:
From the given information;
Mean i,e Demand for CFPs averages = 400 per day
standard deviation = 152
Lead TIme = 4 days
period length = ACold Inc. orders at least one truck from its supplier each day,
Let consider the fact that the order is up to level of S = 2410
Then, the expected demand for the lead time is;
[tex]\mu[/tex] = Demand × (Lead time + period length)
[tex]\mu[/tex] = 400 × ( 4 + 1)
[tex]\mu[/tex] = 400 × 5
[tex]\mu[/tex] = 2000
the standard deviation for the lead time as well is :
[tex]\sigma[/tex] = standard deviation sd[tex]\sqrt{lead \ time \times period \ length }[/tex]
[tex]\sigma[/tex] = [tex]152 \sqrt{4+1}[/tex]
[tex]\sigma[/tex] = [tex]152 \sqrt{5}[/tex]
[tex]\sigma[/tex] = 339.88
The z - value for the test statistics can now be computed as:
[tex]z = \dfrac{X - \mu}{\sigma}[/tex]
[tex]z = \dfrac{2410 - 2000}{339.88}[/tex]
[tex]z = \dfrac{410}{339.88}[/tex]
[tex]z = 1.2063[/tex]
z = 1.21
The order upto level = Inventory on -hand + Inventory order - Backorders
The order upto level - Inventory order + Backorders = Inventory on -hand
Inventory on -hand = The order upto level - Inventory order + Backorders
where ;
the backorders = [tex]\sigma L(z)[/tex] and [tex]L(z)[/tex] = standard loss
From the tables of distribution function and inventory function for standard normal distribution function
L(z) = 0.0561
the backorders can now be = 340 × 0.0561
the backorders can now be = 19.074
Recall that :
Inventory on -hand = The order upto level - Inventory order + Backorders
consider the fact that the order is up to level of S = 2410
∴ Inventory on -hand = 2410 - 2000 + 19.074
Inventory on -hand = 410 + 19.074
Inventory on -hand = 429.074
Philip's Inc. reports stockholders' equity on its financial statements. The two items reported in the stockholders' equity section of Philip's balance sheet are ________ Capital and Retained Earnings.
Answer:
Paid-in capital.
Explanation:
Philip's Inc. reports stockholders' equity on its financial statements. The two items reported in the stockholders' equity section of Philip's balance sheet are paid-in Capital and Retained Earnings.
In Financial accounting, Paid-in capital is one of the most essential components of the equity of a business and can be defined as the payments received in full (cash or assets) from shareholders (creditors or investors) in exchange for a company's stock. It comprises of common stock and preferred stock.
Which statements are TRUE? I NASDAQ Global Market stocks have more stringent listing standards II NASDAQ Global Market stocks have less stringent listing standards III NASDAQ Capital Market stocks have more stringent listing standards IV NASDAQ Capital Market stocks have less stringent listing standards
Answer:
I. NASDAQ Global Market stocks have more stringent listing standards.
IV. NASDAQ Capital Market stocks have less stringent listing standards.
Explanation:
The true statements about the NASDAQ are;
I NASDAQ Global Market stocks have more stringent listing standards.
IV NASDAQ Capital Market stocks have less stringent listing standards.
A causal approach should be used when:_____.
1. there exists a knowledge of the research problem, the decision alternatives, and the relevant variables.
2. only speculative hypotheses exist.
3. the research methods can be highly flexible.
4. the researcher must show that one variable determines the values of another variable.
a. 1
b. 2
c. 1 and 4
d. 4
The correct answer is D. 4
Explanation:
In research, a causal approach is a research method used when the variables the researcher is studying have a cause/effect relationship. This means one of the variables originates the other (cause) or it is the consequence (effect). For example, if the researcher is studying the effects of literacy rate in access to job opportunities, the approach is causal. In this context, to use to approach it is key that the researcher wants to show one variable or factor determines the other through a cause/effect relationship. Thus, this is used when "the researcher must show that one variable determines the values of another variable".
Effective reading involves what four steps? Select one: a. Preparing, reading, capturing key ideas, and reviewing. b. Preparing, absorbing, capturing, reviewing c. Reading, note-taking, summarizing, reviewing d. Reading, capturing key ideas, summarizing, reviewing
Answer:
Preparing, reading, capturing key ideas, and reviewing.
Explanation:
Ted is risk manager of XYZ Company. He is concerned his company might be sued by current or former employees alleging wrongful termination, failure to promote, racial or gender discrimination, or sexual harassment. What type of liability insurance can Ted purchase to cover these types of claims
Answer: Employment-related practices liability insurance
Explanation:
Employment practices liability is a law that deals with wrongful termination, discrimination, sexual harrassment issues, invasion of privacy, breach of contracg, work time violations.
This rule was introduced to help employees to be able to have a say when being abused by their employers and also to help employees not to ride on employees but respect their choice of working for them, failure to do so on the side of each party would draw this law into action.
when managers focus on distinguishing the organizations products from those of competitors on one or more important dimessions such as quality or after sales service and support, this is considered a ___ startegy
Answer:
Differentiation strategy, is the right answer.
Explanation:
In Bussiness studies, a differentiation strategy is a method of developing the business by providing the customers with something different or unique from the items offered by their competitors in the marketplace. The increase in the competitive advantage is the main objective behind implementing a differentiation strategy. By analyzing its strengths, weaknesses, the needs of customers and the prices they can provide, a business can accomplish this.
Jerry, the manager at Cayman's Inc., strongly believes that his subordinates prefer to be directed, avoid responsibility, and frequently need coercion to work toward company goals. Jerry is clearly a _____ manager.
Answer:
Theory X
Explanation:
Theory X is one of the types of management. In this type of management, the managers presume that the employees are not motivated towards their work. They step out with methods like remuneration and increments to motivate the employees. These additional benefits are provided to them when the employees show great responses in tangible forms. The managers hold the thought that the employees need to be controlled and threatened to bring the maximum output of them. They also assume that the employees need constant supervision at every stage of their work.
In the given excerpt, it is evident from the steps taken by Jerry that he is a Theory X manager.
An investor holds a 6% callable bond purchased at 105. If the issuer calls the bond before maturity, the yield to call (YTC) realized by the investor would be A) equal to the yield to maturity (YTM). B) less than the coupon. C) greater than the yield to maturity (YTM). D) greater the current yield (CY).
Answer: less than the coupon
Explanation:
When a bond that is bought at a premium of 205 is called before the bond matures by the issuer, this implies that the accelerated premium loss will have to be reflected in calculated yield to maturity.
It should also be noted that the YTC is the lowest among the yields for the premium bonds. Therefore, if the issuer calls the bond before maturity, the yield to call (YTC) realized by the investor would be less than the coupon.
Option B is correct.
The balance sheet of ABC reports total assets of $400,000 and $450,000 at the beginning and end of the year, respectively. The return on assets for the year is 10%. What is ABC's net income for the year?
Answer:
ABC net income for the year is $42,500
Explanation:
Beginning total assets = $400,000
Ending total assets = $450,000
Average total assets = Beginning total assets + Ending total assets ÷ 2
= ($400,000 + $450,000) ÷ 2
= $425,000
Return on assets = 10%
Therefore,
Net income ÷ Average total assets = Return on assets
Net income = Return on assets × Average total assets
Net income = 0.1 × Average total assets
= $425,000 × 0.1
= $42,500
A higher return on assets (ROA) means that the company is more efficient and more productive in controlling its balance sheet to generate profits.
What is a Return on Assets (ROA)?The term return on assets (ROA) refers to a financial measure that shows how much a company makes a profit compared to the total amount of its assets.
Business executives, analysts, and investors can use the ROA to determine how well a company uses its assets to make a profit.
Higher return on assets (ROA) means that the company is more efficient and more productive while a lower ROA indicates that there is room for improvement.
The formula for calculation of ROA:
[tex]\rm\,Return \; on \;Assets = \frac{Net \; Income}{Total \;Assets} \\\\As \;per \;the \;given \; information:\\\\10\% = \frac{Net \;Income}{\frac{\$400,000 + \$450,000}{2} } \\\\Net \;Income = \$42,500[/tex]
Hence, the Net Income of ABC's for the year is equal to $42,500.
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Jones Electric Motors uses a Kanban system to make motors for several garage door companies in the southeastern United States. The daily demand for motor housings used in manufacturing is 100 units. The average waiting time for a container of parts is 0.2 day. The processing time for a container of housings is 0.1 day, and a container holds 5 housings. If Jones wishes to use a 10% policy variable, how many containers are needed
Answer:
7 kanban containers are required
Explanation:
Given the following information :
Average Waiting time for containers = 0.2 days
Average processing time = 0.1 days / container
Daily usage (Demand rate) = 100 per day
Container capacity = 5 housings
Policy variable ( Alpha) = 10% = 0.1%
The required number of Kanban containers required by Jones Electric Motor can be calculated thus :
[Number of containers(x) * container size] = (Demand rate (waiting time + processing time)*(1 + alpha))
x * 5 = (100 * (0.2 + 0.1)*(1 + 0.1))
5x = [100 * (0.3)*(1.1)]
5x = [100 * 0.33]
5x = 33
x = 33 / 5
x = 6.6 containers
x = 7
A nonaffiliated owns 3% of an issuer's common stock. This person will be considered a control person if a spouse owns A) 8% of the issuer's common stock. B) any shares of the issuer's common stock. C) 5% of the issuer's common stock. D) 2% of the issuer's common stock.
Answer:
Option A. 8% of the issuer's common stock
Explanation:
If the accumulated ordinary share holding by the immediate family members is 10% or more than 10% then all the immediate family members who own ordinary shares of this company are considered control persons. This is because they can influence the decision making of the company and thus these personels are often termed as control person as they have some control of the company.
When a user fills out an online form, but makes an error and the data is not immediately accepted (until the input error is corrected), if the system clears all the fields and requires the user to start over, this is an example of violating the principle of ______.
Answer:
protecting the user's work
Explanation:
this is an example of violating the principle of protecting the user's work. By clearing and requiring user to start all over a violation to the user occurs. users should be helped to protect themselves online, because their personal data can be easily tracked and breached while users are trapped trying to start over with inputting details.
Smitty Museum purchased the copyright to a piece of artwork for $897,000. Smitty plans to reproduce 1.8 million posters of the artwork over a period of 12 years. Calculate the amortization for the year assuming the Museum plans to reproduce and sell 125,000 posters the first year.
Answer:
Annual amortization= $62,291.67
Explanation:
Giving the following information:
Purchase price= $897,000
Smitty plans to reproduce 1.8 million posters of the artwork for 12 years.
To calculate the amortization, we need to use the following formula:
Annual amortization= (original cost/total estimated production)*production for the year
Annual amortization= (897,000/1,800,000)*125,000
Annual amortization= $62,291.67
PLEASE HELP Create a graph to show the effect (shortage or surplus) of raising the minimum wage. Discuss why these issues do or do not affect your claim(My claim is that we should raise minimum wage). Include the appropriate labels for your graph such as: price quantity supply demand surplus or shortage
Answer:
Raising the minimum wage has the effect of producing an excess supply of workers, because the wage is set at a price where supply of workers is higher than the demand of firms for hiring them, and since the wage is not allowed to go any lower, this excess supply remains unsolved.
This situation affects low-skilled workers in particular, and those who are not as productive to be paid the minimum wage, are essentially left out of the labor market.
Demand and supply are the two important factors of the market that determines the economic activities as well as the production and distribution series of the firms.
Demand has an inverse relationship with price and price has a positive relationship with supply. When the price of the quantity goes high, the demand for the quantity decreases, and the supply increases with the increase in price.
In the case of the laborers and the wage. The availability of the labor or the demand of the labor is more and the supply is less, the wages will be high and on the other hand, when the labor will be less demanded and the supply is more, the wages will be less. This is also the minimum higher wage policy of the firms.
The graph has been attached below to analyze the surplus supply.
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Karl knows that TrueHeart Industries prides itself on using green processes to reduce its impact on the environment. During his interview with the hiring manager at TrueHeart, Karl recounted a story about the recycling program he set up in his dormitory at the university. By doing so, Karl was communicating to his potential employer that he has
Answer: character
Explanation:
From the question, we are informed that Karl knows that TrueHeart Industries prides itself on using green processes to reduce its impact on the environment and that during his interview with the hiring manager at TrueHeart, Karl recounted a story about the recycling program he set up in his dormitory at the university.
By doing so, Karl was communicating to his potential employer that he has character. Doing this will help leave a positive impression on the hiring manager.
A financial statement is a(n): Group of answer choices A. estimate of a firm's future income and expenses B. hybrid statement of cash flows C. itemized forecast of a company's income, expenses, and capital needs D. written report that quantitatively describes a firm's financial health
Answer:
D. written report that quantitatively describes a firm's financial health
Explanation:
A financial statement is a written report that quantitatively describes a firm's financial health.
Generally, the financial statements are the formally written records of the business and financial activities of a business entity or organization.
There are four (4) main types of financial statements and these are;
1. Balance sheet: it contains financial information about assets, liability, and equity.
2. Cash flow statement: it contains financial information about operating, financial and investing activities.
3. Income statement: it contains financial information about the income and expenses of an organization.
4. Statement of changes in equity: it contains financial information about profits or loss, dividends, etc.