If renaldo decided to delayer his organization, he would be reducing the number of job levels to achieve flexibility in assignments. The right answer is d.
Delayering is the process of eliminating a hierarchy level or levels from an organisational system. Middle manager-containing layers are frequently the ones that are deleted. Cutting jobs and overheads is not a need for delayering. But in most cases, it does entail lengthening the top managers' typical sphere of influence.
As the impacted individuals are transferred to other positions within the organization, this might effectively decrease the amount of layers without eliminating a single name from the payroll. Delayering is, it is fair to say, increasingly considered as a strategy to cut operating costs, notably as a reaction to the recession.
The correct answer is option d.
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63 On January 1, a company had the following equity account balances: Retained earnings $200 Paid-in capital $150 The following information was true about the company during the year: • Shareholders invested an additional $70 cash in the business. • The company's net loss for the year was $100. • Dividends for the year were $20. It is unusual, but not impossible, for a company to pay dividends even in a year in which it reports a net loss instead of net income. What is the company's retained earnings at the end of the year?
At the end of the year, the company's retained earnings would be $80.
What is Retained Earning?The term "retained earnings" refers to the portion of a company's profits that is retained rather than distributed to shareholders as dividends. It represents a company's accumulated profits that have not been distributed as dividends. Retained earnings can be put to use for a variety of things, such as reinvesting in the company, paying off debt, buying back shares, or providing the business with a cushion during difficult economic times.
The computation for the organization's held income toward the year's end would be:
Dividends = $20 Retained Earnings = $200 - $100 - $20 = $80 Beginning Retained Earnings = $200 Net Income/Loss = -$100 (since the company had a net loss of $100) Dividends = $20
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Suppose the world production possibility frontier (PPF) for raspberries (X) and cheese (Y) is given by X2 + 9Y 2 = 1200, (1) and consumers’ preferences can be represented by U (X, Y ) = XY. (2)
(a) Graph the production possibility frontier (PPF) by plotting at least three numerical points on it.
(b) Think about the general shape of the indifference curves, then on the same diagram use this information to show qualitatively where production and consumption will occur.
(c) On the same diagram, show how the relative prices of raspberries and cheese will be determined.
(d) Use the equations to compute the amounts of X and Y produced and consumed and their relative prices. Check that these numbers and your diagram are generally consistent.
The relative price of raspberries to cheese is determined by the slope of the PPF at the point of production and consumption equilibrium.
(a) To graph the production possibility frontier (PPF), we can use the given equation X2 + 9Y2 = 1200 and solve for Y in terms of X: Y = √(1200 - X2/9). Then, we can choose three numerical points and plot them on a graph, such as (0, 20), (20, 0), and (10, 10/3). Connecting these points gives us the PPF curve.
(b) Based on the consumer preferences represented by U(X,Y) = XY, the indifference curves will have a downward slope and be convex to the origin. This means that consumers prefer combinations of raspberries and cheese that lie on higher indifference curves, further from the origin. Production and consumption will occur at the point where the PPF is tangent to the highest attainable indifference curve. This point represents the efficient allocation of resources and maximizes consumer satisfaction.
(c) The relative prices of raspberries and cheese will be determined by the slope of the PPF. Specifically, the slope of the PPF at any given point represents the opportunity cost of producing one good in terms of the other. The relative price of raspberries to cheese will be equal to the ratio of the marginal cost of producing raspberries to the marginal cost of producing cheese, which is equal to the slope of the PPF.
(d) Using the PPF equation X2 + 9Y2 = 1200 and the consumer preference equation U(X,Y) = XY, we can solve for the efficient allocation of resources by setting the slope of the PPF equal to the slope of the indifference curve, which is given by Y/X = Px/Py, where Px and Py are the prices of X and Y, respectively. Solving for X and Y, we get X = 20√5/3 and Y = 40√5/9. The relative price of raspberries to cheese is given by the slope of the PPF at this point, which is -3/20. Thus, the relative price of raspberries to cheese is 0.15. These numbers are generally consistent with the graph and the economic intuition behind the model.
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please help with this one
Instead of waiting for income tax season to start figuring out what deductions you can claim, you made sure to start keeping track of these items from the very beginning. Create a deduction spreadsheet with the following information from January. Be sure to sort your list by date.
Deduction Category: Travel Expense
Gas from This Town’s Gas’n’Go for flower deliveries:
$25.06 on 1/12/14, $32.01 on 1/23/14, and $40.13 on 1/30/14
Deduction Category: Office Supplies
Paper from This Town’s Office Supply Shop:
$36.00 on 1/2/14
Cleaning supplies from This Town’s Office Supply Shop:
$8.00 on 1/12/14 and $4.50 on 1/16/14
Creating a deduction spreadsheet can be a great way to keep track of expenses and deductions throughout the year, so you're well-prepared come tax season.
Here's an example of what your deduction spreadsheet could look like based on the given information:
Date Deduction Category Expense Description Amount
1/2/14 Office Supplies Paper from This Town’s Office Supply Shop $36.00
1/12/14 Travel Expense Gas from This Town’s Gas’n’Go for flower deliveries $25.06
1/12/14 Office Supplies Cleaning supplies from This Town’s Office Supply Shop $8.00
1/16/14 Office Supplies Cleaning supplies from This Town’s Office Supply Shop $4.50
1/23/14 Travel Expense Gas from This Town’s Gas’n’Go for flower deliveries $32.01
1/30/14 Travel Expense Gas from This Town’s Gas’n’Go for flower deliveries $40.13
In this example, we've organized the expenses by date and categorized them by deduction category to make it easier to find and calculate deductions at tax time. It's important to keep track of all deductible expenses throughout the year so you don't miss out on any potential savings. By being proactive and keeping a detailed record of expenses, you'll be able to file your taxes more efficiently and accurately.
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The e-commerce order fulfillment strategy that requires retail stores to collect the item and deliver it to the customer is called
Answer:
Buy online ship from store (BOSS)
Saxon Shoes is a large independent shoe store. In the men's department, the store offers three different brands of slip-on tassel loafers for men: Bass, priced at $75; Rockport, priced at $125: and Allen Edmonds, priced at $250. In terms of product quality, which of the following is an accurate statement? A. The Bass shoes have the lowest quality B. The Allen-Edmonds shoes have the highest quality
C. The Rockport shoes have mid-level quality D. The quality of the three brands depends on the degree to which they meet the needs of the consumers in the target market. E. All of these alternatives are correct. pricing objective
In terms of product quality, it is not possible to accurately determine which of the three brands has the highest or lowest quality based solely on their price points.
While it is possible that the Allen Edmonds shoes, priced at $250, may have a higher level of quality than the Bass shoes, priced at $75, it is also possible that the difference in price may be due to other factors such as brand reputation or materials used. Similarly, the Rockport shoes may have mid-level quality, but this cannot be determined solely based on their price. Ultimately, the quality of the shoes will depend on a variety of factors, including materials, craftsmanship, and design, and how well they meet the needs of the target market. Therefore, option D, "The quality of the three brands depends on the degree to which they meet the needs of the consumers in the target market," is the accurate statement.
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On January 1, 2024, Nath-Langstrom Services, Incorporated, a computer software training firm, leased several computers under a two-year operating lease agreement from ComputerWorld Leasing, which routinely finances equipment for other firms at an annual interest rate of 6%.
The contract calls for four rent payments of $11,000 each, payable semiannually on June 30 and December 31 each year.
The computers were acquired by ComputerWorld at a cost of $92,000 and were expected to have a useful life of five years with no residual value.
Both firms record amortization and depreciation semiannually.
Note: Use tables, Excel, or a financial calculator. (FV of $1, PV of $1, FVA of $1, PVA of $1, FVAD of $1 and PVAD of $1)
Required:
Prepare appropriate journal entries recorded by Nath-Langstrom Services for the first year of the lease.
Prepare appropriate journal entries recorded by ComputerWorld Leasing for the first year of the lease.
The general journal for the list of financial transactions is given below:
The General JournalNo Date General Journal Debit Credit
1 January 01, 2021
Right of use asset
To Lease Payable
38077
38077
2 June 30 2021
Intrest Expense
Lease Payable
To Cah
762
9238
10000
3 June 30 2021
Amortization Expense
To Right of use asset
9238
9238
4 December 31 2021
Intrest expense
Lease Payable
To cash
577
9423
10000
5 December 31 2021
Amortization Expense
To Right of use asset
9423
9423
6 June 30 2021
Cash
To Lease revenue
10000
10000
7 June 30 2021
Depreciation Expense
To Accumulated depreciation
9000
9000
8 December 31 2021
Cash
To Lease Revenue
10000
10000
9 December 31 2021
Depreciation Expense
To Accumulated Depreciation
9000
9000
($10000*3.80773)= $38077
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The following company has the following data
1- Income ststement
Net sales Revenu=120000
Cost of goods sold=70000
2-Balance sheet
Beginning Inventory =25000
Ending Inventory =18000
Account Receivable= 6500
Account Payable =10500
Question:
calculate the Cash Gap and illustrate:
1) If the suppliers need to be paid after 40 days, is the company need a source of finance? If yes, the facilities needed to cover how many days?
2) How the company can cover the Gap?
3) What is the point of strength and weakness in the company operating cycle?
Answer:
The cash gap is the time interval between the date when a company pays cash to its suppliers for inventory and the date it receives cash from its customers. It can be calculated as Days Sales Outstanding (DSO) + Days Inventory Outstanding (DIO) - Days Payable Outstanding (DPO).
Based on the information you provided, we can calculate DIO and DPO but not DSO since we don't have information about the company's average accounts receivable.
DIO = ((Beginning Inventory + Ending Inventory) / 2) / (Cost of Goods Sold / 365)
DIO = ((25000 + 18000) / 2) / (70000 / 365)
DIO ≈ 105.36 days
DPO = (Accounts Payable / Cost of Goods Sold) * 365
DPO = (10500 / 70000) * 365
DPO ≈ 54.64 days
Without knowing DSO, we cannot accurately calculate the cash gap or determine if the company needs a source of finance.To cover the cash gap, a company can speed up collections from customers, negotiate longer payment terms with suppliers or use short-term financing such as a line of credit.As for strengths and weaknesses in the company's operating cycle, it's difficult to determine without more information about industry standards and other factors that may affect their operations.Your company has just predicted that the organization will need more user experience (UX) designers to build its new line of products. You've been
tasked with human resource planning. What is your next step?
I have been given the task of planning human resources, particularly for the position of user-experience (UX) designers. Forecasting the external supply of UX designers is the next step.
What exactly is ERP (enterprise resource planning)?ERP is, at its core, an application that automates business processes, provides insights, and provides internal controls by collecting inputs from departments like accounting, manufacturing, supply chain management, sales, marketing, and human resources (HR). However, when the information required to carry out procedures and make crucial decisions is dispersed across a number of different systems, this becomes difficult. Representatives often have trouble finding the information they require and may require access to it entirely, regardless of whether the data is stored in important business executives' programming or calculation sheets. For instance, the accounting and FP&A teams might use distinct expense tracking spreadsheets.
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difference between capital equipment and operation equipment?
Capital equipment and operating equipment are two types of assets that a company may use to operate its business. The main difference between capital equipment and operating equipment is their purpose and usage.
Capital equipment refers to long-term, high-cost assets that are used to produce goods or services, and are expected to last for a relatively long period of time, typically several years. These assets are usually essential to the company's operations and are not easily replaceable. Examples of capital equipment include machinery, vehicles, computers, and buildings. Capital equipment is usually accounted for as a fixed asset on the balance sheet and is depreciated over time.
On the other hand, operating equipment refers to short-term, low-cost assets that are used on a daily basis to support the company's operations. These assets are often consumable or require frequent replacement due to wear and tear. Examples of operating equipment include office supplies, cleaning equipment, and maintenance tools. Operating equipment is usually accounted for as an expense on the income statement and is deducted from revenue to determine net income.
In summary, capital equipment is a long-term investment that is essential to the company's operations and is expected to last for several years, while operating equipment is a short-term asset that is used on a daily basis and is expected to be replaced frequently.
what are Perpose of induction
The purpose of induction in business is to provide new employees with the necessary information, training, and support to help them integrate into the company culture and perform their job responsibilities effectively.
What is an Induction program?Induction programs typically include an overview of the company's mission, values, and policies, as well as training on job-specific skills and procedures.
Induction helps to ensure that new employees feel welcome and supported, understand their roles and responsibilities, and have the resources they need to succeed.
A successful induction program can help to reduce turnover, improve job satisfaction, and increase productivity.
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How dose a production possibility chart assist in outlining opportunity cost
A production possibility chart aids in comparing the earning potential of various products and detailing opportunity costs.
What does opportunity cost mean?Opportunity costs are the gains lost while deciding on one course of action over another in economics. Essentially, it is the worth of the untraveled way. Opportunity costs are trivial to overlook, yet realising the value of lost opportunities is crucial for wiser business decisions.
What three traits do opportunity costs have?Important ideas. Opportunity cost is the price incurred by choosing one course of action over another. Its cost includes time, effort, and utility in addition to money. When price, time, effort, and usefulness are taken into account, opportunity cost can help people make the best decisions possible.
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Assume that you are writing about green hotels and eco-friendly meetings. You have access to the following word-for-word passages from two sources. These passages will be the basis of the exercises.
Stewart, J. (2012). The greening of hotels. New York: Williams-Anderson Group.
Most hotel executives have recognized that the demand for greener hotels has reached a tipping point. They expect a quickly accelerating demand for greening in all dimensions of hotels: energy usage, carbon emission, impact on local environments, and water consumption. As one executive told me, "The current operations model simply won't work any longer. We've got to adapt to shifting demands, and do it within three to five years. Or, we're toast." (from page 14)
Mendez, E. (2011). Marketing eco-friendly meetings. San Francisco: Finch & Sons Publishing.
Our research shows that 20 percent of conference attendees expect eco-friendly meetings. But, that doesn't tell the story, and any convention center, hotel, or other conference host that thinks the demand for green conferences will not become a significant share of the market is delusional. From our research, here are the statistics that matter most: 75 percent of conference planners say their employers demand more eco-friendly meetings to reach CSR initiatives, and 60 percent of conference planners now believe eco-friendly conferences cost less. (from page 3)
Research shows that just 20 percent of conference attendees expect eco-friendly meetings.
A. Plagiarized: not paraphrasing sufficiently
B. plagiarized; not correctly acknowledging direct quotations
C. plagiarized; not acknowledging the source of ideas
D. plagiarized; not correctly acknowledging the source of ideas
E. Not plagiarized
E. Not plagiarized the words and structure used in research shows that 20 percent of conference attendees expect eco-friendly meetings are general factual statement are different from those in the original source. Furthermore, it is well known and does not need for attribution to a particular source so it has no plagiarism
Plagiarism is the act of misrepresenting the thoughts, creations, or words of another person as your own without properly crediting or citing the source. Since it is a form of intellectual theft, it is regarded as unethical and dishonest in both educational and professional settings. Plagiarism includes a variety of actions, such as copying and pasting, paraphrasing without the necessary citation, using someone else's ideas without giving them credit, and submitting someone else's work as your own. The proper reference styles must be utilized, and you must always provide fair acknowledgment to the sources you used, in order to avoid plagiarism.
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Write a formula to return the first three characters in the last three characters in cell J one and excel
Use the Excel formula =LEFT(J1,3)&RIGHT to retrieve the first three characters and the final three characters from cell J1.(J1,3)
What Excel formula delivers characters in a cell that come after a certain character?The delimiter, which can be any character or substring, is returned by the Excel TEXTAFTER function. You can select the target occurrence if the delimiter occurs more than once.
What formula yields the character count?Enter =LEN(cell) in the formula bar and hit Enter on your keyboard to invoke the function. Multiple cells: Enter the formula in the first cell and then drag the fill handle down (or across) the range of cells to apply it to further cells.
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Communication can take the form of: Effective, verbal, non-verbal, electronic Spoken/verbal, non-verbal, written, visuals Spoken/verbal, non-verbal, electronic, written Effective, ineffective, verbal, written
Spoken/verbal, non-verbal, written, and pictures are the proper responses. The four main categories of communication are spoken/verbal, non-verbal, written, and images. Communication can take many other forms.
Which form of communication verbal or nonverbal is more effective?When compared to verbal communication, nonverbal communication is frequently more nuanced, more powerful, and more effective at conveying meaning.
What verbal communication technique is most effective?Effective verbal communication combines clarity, relevance, tact in word choice and tone, succinctness, and information. Presentations or conversations that include these elements typically produce positive results.
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In order for communication to be effective in the workplace, managers need to solicit comments and criticism from employees regarding their communication messages. This input from employees is referred to as ______.
Maintenance expenses for a bridge on the Ohio River are estimated to be $20,000 per year for the first eight years, followed by two separate $100,000 expenditures in years 12 and 18. The expected life of the bridge is 30 years. If i= 6% per year, what is the equivalent uniform annual expense over the entire 30-year period?
The equivalent uniform annual expense over the entire 30-year period is approximately $16,118.85.
We can use the formula for the present value of an annuity: P = A * (1 - 1 / (1 + i)^n) / i . where P is the present value of the annuity, A is the equivalent uniform annual expense, i is the interest rate per year, and n is the number of years. In this case, we have three different expenses: $20,000 for the first 8 years, $100,000 in year 12, and $100,000 in year 18. To find the present value of these expenses, we need to discount them back to the present using the interest rate of 6%.
PV1 = $20,000 * (1 - 1 / (1 + 0.06)^8) / 0.06 = $119,018.05
PV2 = $100,000 / (1 + 0.06)^12 = $44,968.16
PV3 = $100,000 / (1 + 0.06)^18 = $29,558.09
The total present value of the expenses is:
PV = PV1 + PV2 + PV3 = $193,544.30
Now we can use the same formula to solve for the equivalent uniform annual expense, A: A = P * i / (1 - 1 / (1 + i)^n) . A = $193,544.30 * 0.06 / (1 - 1 / (1 + 0.06)^30) = $16,118.85 .
Therefore, the equivalent uniform annual expense over the entire 30-year period is approximately $16,118.85.
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Because of the funding fee required for a VA loan, a borrower with no down payment funds saved should ______.
Amortization: Loan repayments by way of equal periodic quantities calculated to pay off the debt at the cease of a fixed period, which includes gathered interest on the brilliant balance.
Which declaration most precisely describes the right of rescission?Right of rescission is the borrower's right to rescind a loan. This proper lasts three enterprise days from the date of loan utility or disclosure, whichever is later.
What facts is listed on the promissory note quizlet?"A promissory note states the mortgage quantity (the principal), the amount of the payments, when and how the repayments are to be made, and the maturity date—when the loan is to be repaid in full."
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PLEASE HELP DUE AT 11:59
The following data have been gathered for Syncronics, Inc.:
a. The July 31 bank balance was $4,000,
b. The bank statement included $65 in service charges.
c. There was an EFT deposit of $900 on the bank statement for the monthly rent from
the tenant.
d. Checks #541 and #543 for $205 and $320, respectively, were not among the canceled
checks returned with the statement, therefore the checks are outstanding.
e. The July 31 deposit of $350 did not appear on the bank statement
f. The bookkeeper had erroneously recorded a $50 check as $500. The check was
written to a vendor to pay- off an accounts payable.
g. Included with the canceled checks was a check written by Syncronize
Corporation for $200 which was deducted from Syncronics' account. .
h. The bank statement also included an NSF check written by Multimedia, Inc for a $460
payment on accounts receivable
i. The cash account showed a balance of $3,200 on July 31.
REQUIRED:
1. Prepare the July 31 bank reconciliation for Syncronics Inc.
2. Adjust the Cash Balance (using Journal Entries, T accounts, or the Accounting Equation).
Explanation:
July 31 Bank Reconciliation for Syncronics Inc.
Balance per bank statement:
Beginning balance: $4,000
Service charges: -$65
EFT deposit: +$900
Outstanding checks: -$525 (check #541 for $205, check #543 for $320)
NSF check: -$460
Adjusted balance per bank statement: $3,750 ($4,000 - $65 + $900 - $525 - $460)
Balance per company's records:
Beginning balance: $3,200
Deposit in transit: +$350
Erroneously recorded check: -$450 ($500 - $50)
Deducted check: -$200
Adjusted balance per company's records: $2,900 ($3,200 + $350 - $450 - $200)
Adjusted Cash Balance:
To adjust the cash balance on Syncronics' books to the reconciled balance of $3,750, the following journal entry can be made:
Debit: Cash (increase) $850 ($3,750 - $2,900)
Credit: Accounts Receivable (decrease) $850
Alternatively, the T-account for Cash can be adjusted:
Beginning balance: $3,200
Add: Deposit in transit $350
Less: Erroneously recorded check -$500
Less: Deducted check -$200
Adjusted balance: $2,850
Then, the adjusting entry would be:
Debit: Cash (increase) $900 ($3,750 - $2,850)
Credit: Accounts Receivable (decrease) $900
assuming that the machine was used directly in the production of one of the products that the company manufactures and sells, what factors might management consider in selecting a preferable depreciation method in conformity with the expense recognition (matching) principle ?
While selecting a depreciation method in accordance with the expense recognition principle, management may take into account the nature and estimated life of the asset, the company's financial status, tax consequences, and regulatory requirements.
Management might consider several factors in selecting a preferable depreciation method in conformity with the expense recognition (matching) principle, including the estimated useful life of the machine, the residual value of the machine, the method's impact on the company's income statement and balance sheet, and the tax implications of the method.
The matching principle requires that expenses be recognized in the same period as the revenue they help generate, so selecting a depreciation method that best matches the machine's use to the periods in which it is generating revenue is crucial. This may involve considering the pattern of use over time, and whether it is more appropriate to use a method that front-loads depreciation expenses or spreads them out evenly.
Additionally, tax laws may influence the choice of depreciation method, as some methods may provide more favorable tax treatment than others. Overall, the goal is to select a depreciation method that most accurately reflects the machine's contribution to revenue generation over its useful life, while also considering the financial and tax implications of the method.
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Ensuring mental wellness requires
Based on the stage that you are in your career, prepare a chronological or functional resume for a position in your dream company. You need to create your resume in any 1 format chronological OR functional, properly justifying your choice.
A chronological resume presents your professional experience in reverse chronological order. To put it another way, the position you had most recently is mentioned first on your CV. Just below that is where you were previously, and so forth.
In a chronological resume, are professional experiences listed in reverse chronological order the major emphasis?Reverse chronological resumes, often known as chronological resumes, are the most common format. The chronological resume concentrates and accentuates your professional experiences and accomplishments in chronological order, making it highly advised for those with lengthy employment histories.
What does the reverse chronological order on a resume mean?The reverse chronological resume format is the most popular and well-known. Your relevant employment history is presented in this format in reverse chronological order, beginning with the most recent position you had and working your way backwards.
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Select from the option list provided the best description for each person/department. A choice may be used once, more than once, or not at all. Person/department Description 1. Receiving Department 2. General Ledger 3. Cash Disbursements 4. Accounts Payable 5. Purchasing Agent 6. Inventory Control 7. Inventory Warehouse Select an option below - Provides authorization for the purchase of goods and performs an accountability function.
- Issues purchase orders for required goods. - Prepares customer invoices based on goods shipped. - Provides physical control over the goods. - Assembles the proper documentation to support a payment Select an option below - Assembles the proper documentation to support a payment voucher (and disbursement) and records the account payable.
- Evaluates the documentation to support a payment voucher and signs and mails the check. - Prepares shipping documents and sends products based on authorized service orders.
- Accepts goods for approved purchases, counts and inspects the
Select an option below - Evaluates the documentation to support a payment voucher nu signs and mails the check. - Prepares shipping documents and sends products based on authorized service orders.
- Accepts goods for approved purchases, counts and inspects the goods, and prepares the receiving report.
- Maintains the accounts payable control account and other related general ledger accounts.
Responsibilities of personnel and departments in the purchases-payables-cash disbursements cycle includes various responsibilities.
Receiving department accepts goods for approved purchases, counts and inspects the goods, and prepares the receiving report.
General Ledger maintains the accounts payable control account and other related general ledger accounts.
Cash Disbursements evaluates the documentation to support a payment voucher and signs and mails the check.
Accounts Payable (vouchers payable) assembles the proper documentation to support a payment voucher (and disbursement) and records the account payable.
Purchasing Agent issues purchase orders for required goods.
Inventory Control provides authorization for the purchase of goods and performs an accountability function (e.g., Inventory Control is responsible for maintaining perpetual records for inventory quantities and costs).
Inventory Warehouse provides physical control over the goods.
The tasks of creating, interpreting, and reviewing personnel policies, practices, and programs, such as safety programs, employee benefits, job evaluation, training or development, and communication, must be coordinated by the personnel department.
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Justin is representing the seller in a transaction. Which of the following tasks is he permitted to perform for the unrepresented buyer as a non-agent?
As a non-agent, Justin cannot perform tasks that would require him to act in the best interests of the unrepresented buyer, as that would constitute agency representation.
However, he can provide general information about the property and answer factual questions about its features or condition. He can also provide standard forms, such as purchase agreements or disclosures, that are required by law or commonly used in the transaction process. However, he cannot provide advice or negotiate on behalf of the unrepresented buyer. Any communication with the unrepresented buyer should make it clear that Justin represents the seller and is not acting as an agent for the buyer. Additionally, he should advise the buyer to seek their own representation if they have any questions or concerns.
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When auditing financial statements of a private company, the minimum work an auditor must perform in connection with a company's internal control is best described by which of the following statements?
a Determine whether the company's control policies are designed well enough to prevent material misstatements.
b Perform exhaustive tests of accounting controls and evaluate the company's control system effectiveness.
c Design procedures to search for significant deficiencies in the actual operation of the company's internal control.
d Prepare auditing working papers that document the auditor's understanding of the company's internal control.
The minimum work an auditor must perform in connection with a private company's internal control is best described by statement D: Prepare auditing working papers that document the auditor's understanding of the company's internal control.
This means that the auditor must document their understanding of the company's internal control structure and the extent to which they will rely on it in conducting the audit. This includes evaluating the design of the control system, assessing the risk of material misstatement, and identifying any weaknesses or deficiencies in the control system that may affect the audit. While the auditor may perform additional testing and evaluation of the company's control system, documenting their understanding of the system is the minimum requirement for an auditor in connection with a private company's internal control.
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In a make or buy decision , which of the costs below are relevant ? 1. Fixed costs that will not change regardless of the decision . 2. Fixed costs that can be avoided in the future if the decision is to buy . 3. Only direct material costs . 4. Only conversion costs.
Option (2) "Fixed costs that can be avoided in the future if the decision is to buy" is the correct answer.
In a make or buy decision, relevant costs are those costs that are affected by the decision and can help in making a rational decision.
Fixed costs that will not change regardless of the decision are irrelevant in a make or buy decision since they are sunk costs and cannot be altered by the decision. Fixed costs that can be avoided in the future if the decision is to buy are relevant in the decision-making process as they can be saved by choosing to buy from an external supplier rather than producing internally. Direct material costs and conversion costs are both relevant in a make or buy decision. Direct material costs are the cost of raw materials required to produce a product or service, while conversion costs are the costs of labor and manufacturing overhead needed to convert raw materials into finished products. By comparing the costs of producing internally versus purchasing from an external supplier, a company can determine which option is more cost-effective.
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the role of the public address announcer is most likely to include which of the following? A. introducing the team for the crowd in the stadium.
B. Broadcasting the game over the radio for the public at large.
C. Doing a postgame interview for the local tv stations.
D. Serving as the color commentator during a tv show.
Answer:
A. introducing the team for the crowd in the stadium.
Explanation:
The public address announcer's primary responsibility is to provide announcements and information to the spectators in the stadium or arena. This includes introducing players, coaches, and officials before and during games, making announcements about game events such as goals, fouls, or penalties, and providing general information about the game to the crowd.
Option B, broadcasting the game over the radio for the public at large, is typically done by a play-by-play announcer or a radio broadcaster. Option C, doing a postgame interview for the local TV stations, is typically done by a sideline reporter or a sports journalist. Option D, serving as the color commentator during a TV show, is typically done by a former player, coach, or sports analyst.
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Given the following information for Vector Company, find its WACC. Assume the company's tax rate is 25 percent. Debt: 45,000, 6.5 percent coupon bonds outstanding, $1,000 par value, 10 years to maturity, selling for 99 percent of par; the bonds make semiannual coupon payments. Common stock: 470,000 shares outstanding, selling for $55 per share; the beta is 1.60. Market: 7.0 percent market risk premium and 3 percent risk-free rate. (Hint: Determine the cost of debt as YTM then use the bond price to determine the market value of debt)
7.83%
8.05%
8.70%
8.36%
7.68%
during its first week of operations ending january 7, fasttrack sports incorporated completed six transactions with the dollar effects indicated in the following schedule: accounts dollar effect of each of the six transactions ending balance 1 2 3 4 5 6 cash $15,000 $66,000 $(9,000) $(4,800) $(8,700) $(10,000) notes receivable (short-term) 4,800 store fixtures 8,700 operating lease right-of-use assets 141,000 notes payable (due in three months) 66,000 (10,000) long-term lease liabilities 132,000 common stock (15,000 shares) 1,500 additional paid-in capital 13,500 required: 2. prepare a classified balance sheet for fasttrack sports incorporated on january 7.
Each transaction that FastTrack Sports Inc. directed during its most memorable seven-day stretch of tasks interestingly affected the organization's financial records.
The first transaction that FastTrack Sports Inc. conducted was the receipt of cash, which increased the cash balance by $15,000.
The second transaction involved the receipt of notes receivable, which increased the company's short-term notes receivable by 4,800.
The third transaction involved the purchase of store fixtures, which decreased the company's cash balance by $8,700.
The fourth transaction involved the acquisition of land, which increased the company's land balance by $15,000.
The fifth transaction involved the payment of notes payable, which decreased the company's cash balance by $9,000.
The sixth and final transaction involved the issuance of common stock, which increased the company's additional paid-in capital by 13,500.
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. A customer is suing the company for $800,000 in damages because her child was injured in November 2016 while riding an escalator that stopped suddenly in one of its stores. The child was hurt when he tripped and fell while walking “down” an escalator that was going “up.” Legal counsel feels that the child is partially at fault, but that it is probable that the lawsuit will be settled for between $50,000 and $100,000, with $80,000 being the most likely amount. 2. Fallon has discovered that a skateboard it began manufacturing and selling in 2016 has defective bearings, sometimes causing a wheel to fall off. Fallon has issued a “recall” notice in newspapers and magazines in which it offers to replace the bearings. It estimates a cost of $200,000 for these repairs. No lawsuits have been filed for injury claims, although the company feels that there is a reasonable possibility that claims may total as high as $2 million. 3. Fallon has an incinerator behind one of its retail outlets which is used to burn cardboard boxes received in shipments of inventory from suppliers. The state environmental protection agency filed suit against the company in August 2016 for air pollution. Fallon expects to stop using the incinerator and begin recycling. However, its lawyers believe that it is probable that a fine of between $40,000 and $60,000 will be levied against the company, although they cannot predict the exact amount. 4. In early 2016, Fallon signed a contract with a computer vendor to install “state of the art” cash registers in all of its retail outlets. Because of the vendor’s inability to acquire sufficient cash registers, the vendor canceled the contract. Fallon has filed a breach of contract suit against the vendor, claiming $300,000 in damages. The company’s lawyers expect that it will settle the suit “out of court” for $150,000.
Company F took its vendor to court. According to conservatism, estimated gain contingency cannot be recorded before it is earned. Both IFRS and GAAP apply to this principle.
What are IFRS and GAAP?The term "Generally Accepted Accounting Principles" refers to the United States' generally accepted standards for financial reporting. The acronym IFRS refers to a set of internationally accepted accounting standards that are utilized by the majority of nations worldwide.
The reason for IFRS is that elements have normal bookkeeping decides that permit fiscal summaries to be steady, solid, and tantamount between each business in any country.
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Further answer attached below:
Suppose that Mimi plays golf 5 times per month when the price is $60 and 4 times per month when the price is $50. What is the price elasticity of Mimi’s demand curve?
Answer:
1.0
Explanation: