Oceanside Software began January with $3,300 of merchandise inventory. During January, the company made the following entries for its inventory transactions: Date Transaction Units Price/Unit Total Jan 3 Sold 200 units $40 $8,000 Jan 8 Purchased 300 units $20 $6,000 Jan 16 Sold 100 units $40 $4,000 Jan 25 Purchased 500 units $18 $9,000 Jan 31 Sold 200 units $40 $8,000
The calculation of Oceanside's gross profit for January is as follows:Total Cost of Goods Sold = Cost of Goods Sold (CGS) from Jan 3rd + Cost of Goods Sold (CGS) from Jan 16th + Cost of Goods Sold (CGS) from Jan 31st.= (200 × $20) + (100 × $20) + (200 × $18)= $4,000 + $2,000 + $3,600= $9,600Total Sales Revenue = Sales Revenue from Jan 3rd + Sales Revenue from Jan 16th + Sales Revenue from Jan 31st.= $8,000 + $4,000 + $8,000= $20,000Gross Profit = Total Sales Revenue - Total Cost of Goods Sold= $20,000 - $9,600= $10,400Therefore, Oceanside's gross profit for January was $10,400.
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Red River Painting Company incurs the following transactions for September. 1. September 3 paint houses in the current month for $15,500 on account. 2. September 8 purchase painting equipment for $16,560 cash. 3. September 12 Purchase office supplies on account for $2,680. 4. September 15 Pay employee salaries of $3,300 for the current month. 5. September 19 Purchase advertising to appear in the current month for $1,θθ0 cash. 6. Septenber 22 Pay office rent of $4,50e for the current month. 7. September 26 Receive $10,560 from customers in (1) above. 8. Septenber 30 Receive cash of $5,100 in advance from a customer who plans to have his house painted in the following month. Required: 1. Record each transaction. 2. Post each transaction to T-accounts and calculate the ending balance for each account. At the beginning of September, the company had the following account balances: Cash, $41,600 : Accounts Recelvable, \$1,250, Supplies, \$410; Equipment, \$6,500: Accounts Payable, $1,200; Common Stock, $20,500; Retained Earnings, $28,060. All other accounts had a beginning balance of zero. 3. Prepare a trial balance. Complete this question by entering your answers in the tabs below. Prepare a trial balance. Complete this question by entering your answers in the tabs below. Prepare a trial balance.
The trial balance ensures that the total debits equal the total credits, which is the case here (86,700 = 58,570).
To prepare a trial balance, we need to list all the accounts and their respective balances (including the beginning balances and the effects of the transactions). Here's the trial balance for Red River Painting Company: Account Debit ($) Credit ($); Cash 51,960 ; Accounts Receivable 15,500 ; Supplies 2,680 ; Equipment 16,560 ; Accounts Payable 1,200; Common Stock 20,500; Retained Earnings 28,060; Revenue ; Salaries Expense 3,300; Rent Expense 4,500; Advertising Expense 1,010; Total 86,700 58,570. The Revenue account is not included in the trial balance as we don't have information regarding the revenue earned.
The trial balance ensures that the total debits equal the total credits, which is the case here (86,700 = 58,570). Please note that the Revenue account is missing from the trial balance because we don't have the information regarding the revenue earned from the transactions.
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Umuel iviumpie-step micume statemmen Net sales, gross margin and net income are shown separately.
The income statement is one of the financial statements that investors and analysts use to examine a company's profitability. It outlines the company's revenues, expenses, and net income over a certain period. Net sales, gross margin, and net income are all shown separately on the income statement.
Net sales are a company's revenue minus any returns, discounts, or allowances. It shows how much money a company is earning from its primary operations. Gross margin is the difference between net sales and the cost of goods sold (COGS). It shows how much money a company is making after subtracting the direct cost of producing its products or services. Gross margin is an important metric because it indicates how efficiently a company is managing its production costs. Net income is the amount of money a company earns after all of its expenses are subtracted. It includes expenses such as taxes, depreciation, and interest. Net income is the ultimate measure of a company's profitability. If a company's net income is positive, it means that it is generating more revenue than it is spending. If net income is negative, it means that a company is losing money. A company's income statement is a critical financial statement that provides investors with a comprehensive understanding of the company's financial performance.
By analyzing a company's net sales, gross margin, and net income separately, investors can gain insight into the company's revenue generation, production costs, and overall profitability.
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Keys Company has a target of establishing a fund of $50000. If $10000 is deposited at the end of every six months, and the fund earns interest at 4% compounded quarterly, how long will it take to reach the target?
It will take approximately 5 years for Keys Company to reach its target fund of $50000.
Since $10000 is deposited at the end of every six months, the periodic interest rate is 4%/4=1% and the compound periods are 2*4=8.Using the formula for future value of an ordinary annuity, we have:$50000 = $10000 x [(1+0.01)^8 - 1] / 0.01 x (1+0.01)^8$50000 = $10000 x 10.563$50000/$10000 = 10.563.
Thus, it will take approximately 5 years to reach the target of $50000. Keys Company has a target of establishing a fund of $50000 and is depositing $10000 at the end of every six months. The fund earns interest at 4% compounded quarterly. To find the time it will take to reach the target, we use the formula for future value of an ordinary annuity.
Since the periodic interest rate is 4%/4=1% and the compound periods are 2*4=8, we can calculate:$50000 = $10000 x [(1+0.01)^8 - 1] / 0.01 x (1+0.01)^8$50000 = $10000 x 10.563$50000/$10000 = 10.563Thus, it will take approximately 5 years to reach the target of $50000.
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At a service-counter employee at an airport automobile rental counter, receive 22 customers per hour. The service-counter has three employees are on duty and each employee can serve 8 customers per hour. Employees are complaining about being too busy and the couter often experiences long queues and delays. a. What is the utilization of employees? b. In order to achieve 75% or lower utilization of the employees, how many employees should be added at the center? c. At the rental counter, on average, how many customers are being served at a given time?
At an airport rental counter, an employee receives 22 customers per hour. The employees are complaining about being too busy, and the counter often experiences long queues and delays.
Utilization of employees:The number of customers that can be served by one employee in an hour is 8. As a result, three employees' combined service capacity per hour is 24 customers. The number of customers that arrive at the rental counter in an hour is 22.Throughput rate * (Time spent being served / Flow time)= 22 * (0.125 / (0.125 + W))Where W is the time spent waiting.
W can be calculated by using the following formula:W = L / Arrival rateWhere L is the average number of customers in the system. Using Little's Law, L = Throughput rate * Flow timeL = 22 * 0.125 = 2.75 customersW = L / Arrival rate= 2.75 / 22= 0.125 hours (7.5 minutes)Therefore,Average number of customers being served at a given time = 22 * (0.125 / (0.125 + 0.125))= 11 customers are being served on average at any given time.
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True or False: Any unbound LP model has an unbounded feasible
region.
Any unbound LP model has an unbounded feasible region The statement "Any unbound LP model has an unbounded feasible region" is True. Here's an explanation for that.
Any LP model can have one of the three characteristics: infeasible, bounded feasible, or unbounded feasible. it does not have an optimal solution since its objective function value continues to improve as one or more of the non basic variables increases indefinitely. However, an unbounded LP model always has an unbounded feasible region.
It is true because as one or more of the non basic variables goes to infinity, the feasible region extends infinitely in one or more directions. It is an essential characteristic of an unbounded LP model that the feasible region is unbounded. So, we can say that the statement "Any unbound LP model has an unbounded feasible region" is True.
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You have been asked to estimate the value of synergy in the merger of StraightCom, a movie streaming firm, and Movie Sorcery, an entertainment company and have been provided with the following information on the two companies: StraightCom Movie Sorcery Revenues $760. 00 $260. 00 After-tax Operating Income next year $70. 00 $40. 00 Cost of capital 12. 00% 9. 00% Return on capital 10. 00% 12. 00% Net Debt $100. 00 $50. 00 Number of shares (millions) 125 50 Both firms are in stable growth, growing 3% a year in perpetuity. A. Estimate the value per share of StraightCom, prior to the merger. B. Estimate the value per share of Movie Sorcery, prior to the merger. C. Now assume that combining the two firms will be able to cut annual operating expenses by $22 million (on an after-tax basis), though it will take three years for these costs savings to show up. Estimate the value of synergy in this merger. D. Assume that both companies were fairly priced before the acquisition and that StraightCom pays a 25% premium over market price to buy Movie Sorcery. Estimate the value per share for StraightCom after the acquisition
A. The estimated value per share of StraightCom prior to the merger is $7.80. B. The estimated value per share of Movie Sorcery prior to the merger is $5.20. C. The estimated value of synergy in this merger is $70 million. D. The estimated value per share for StraightCom after the acquisition is $7.29.
A. To estimate the value per share of StraightCom, we use the Gordon Growth Model (GGM). Using the after-tax operating income and cost of capital, we calculate the perpetuity value of StraightCom's cash flows and divide it by the number of shares. The result is $7.80.
B. Similarly, using the information for Movie Sorcery, we estimate the value per share using the GGM. The result is $5.20.
C. To estimate the value of synergy, we calculate the present value of the expected cost savings using a three-year time horizon and the cost of capital. The value of synergy is the present value of these savings, which amounts to $70 million.
D. Assuming StraightCom pays a 25% premium over the market price to acquire Movie Sorcery, we adjust the value per share of StraightCom by adding 25% of Movie Sorcery's value per share. The result is $7.29.
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M6L1 - Real World Costs
PART I
Please pick an example of three types of costs that a business can incur and briefly explain whether or not they are fixed, variable, or a combination of the two. Make sure that you are clear in your description and explanation
In a business, costs are incurred by the entity. A cost is a monetary value that is associated with the goods and services purchased or used in the business operations.
The three types of costs incurred by a business include fixed, variable, and semi-variable costs.
Fixed Costs:These are expenses that remain constant regardless of the level of production. They are independent of the number of units produced. Examples of fixed costs include rent, insurance, property taxes, salaries, equipment leases, and maintenance fees.
Variable Costs:These costs fluctuate with the level of production. When production increases, variable costs also increase. When production decreases, variable costs decrease. Examples of variable costs include direct labor, direct materials, sales commissions, and shipping costs.
Semi-Variable Costs:Semi-variable costs are partially fixed and partially variable. These costs change with the level of production but also have a fixed component. Examples of semi-variable costs include utility bills, telephone bills, and Internet charges. They include a fixed portion and a variable portion.
Therefore, Cost is typically the expense incurred for making a product or service that is sold by a company.
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What are the two systems that the brain uses in decision-making? How are they related to programmed and non-programmed docisions? 4 palnts Watch the follewing 11 scenes from the 1957 classic film "12 Angry Men and respond to the following: a. Describe the steps that the dissenting juror, played by Henry Fonda, makes in his decision-making process. b. How does the juror's group decision making process change over time? What is confirmation bias? Explain how it can be a barrier to effective decision-maiking. 1 point What is a logical fallacy? Provide an example that illustrates logical fallacy.
Decision-making is a complex process. The human brain has two systems of decision-making. These two systems are the intuitive system and the analytical system. The intuitive system works automatically, while the analytical system is conscious and takes more time to process.
The analytical system is related to programmed decisions, while the intuitive system is related to non-programmed decisions. Programmed decisions are those that are routine, while non-programmed decisions are those that are unique and need more thought and analysis. The following are the steps that the dissenting juror, played by
Henry Fonda, made in his decision-making process:
Identified the inconsistencies in the testimonies presented by the witnesses. Challenged the key witness by presenting the argument that she couldn't have seen the murder clearly due to the distance between her and the murder scene. Recreated the crime scene with the use of visual aids and challenged the idea of the murder weapon's uniqueness.
Explained the possibility that the key witness had fabricated the story with the intent of getting attention for herself. The juror's group decision-making process changed over time as they initially relied on the initial vote, which was not effective, and then began discussing the pieces of evidence. Gradually, the group started changing its vote in favor of the dissenting juror's arguments. Confirmation bias is the tendency of an individual to search for, interpret, and remember information that confirms their pre-existing beliefs while ignoring the contradictory information.
In this fallacy, the opponent's argument is misrepresented to make it easier to refute. For example, in an argument about education, one person argues for increased funding for schools while the other person argues against it. The person against increased funding misrepresents the other person's argument by saying that they are arguing for schools to be given unlimited funding which is not true.
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Which of the following statements about the difference between forwards and futures is most accurate? Forward contracts are marked-to-market but futures contracts are not. Before maturity, the volue of a forward contract is not the same as the value of the corresponding futures contract. If interest rates are constant then the futures price is higher than the corresponding forward price. A strong positive correlation between interest rates and the underlying asset price implies that the futures price will be lower than the corresponding forward pice.
Out of the given options, the following statement insurance about the difference between forwards and futures is most accurate: If interest rates are constant then the futures price is higher than the corresponding forward price.
A forward contract is an agreement between two parties to purchase or sell an asset at a fixed price at a predetermined future date. The price of the asset is predetermined, and both the parties are obligated to perform the contract at the expiration.
A futures contract is an agreement to buy or sell an asset at a predetermined price and a specified future date. The key differences between forward and futures contracts include standardized contracts, marked-to-market, margin the futures contracts are traded on an exchange, and the exchange sets the terms and conditions of the contract.In the context of futures and forward contracts, the statement that says "If interest rates are constant, then the futures price is higher than the corresponding forward price" is the most accurate.
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Thief steals a watch worth $1,000 from a department store. Thief has no gross income until Thief sells the watch.
True
False
Performing services by the taxpayer in the taxpayer’s home constitutes gross income.
True
False
Treasury Regulation § 1.61-2 is the second regulation (-2) promulgated under Code Section 61 of the Income Tax Regulations (1.)
True
False
The first statement is True. Thief steals a watch worth 1,000 from a department store. Thief has no gross income until Thief sells the watch. Gross income is defined as "All income from whatever source derived" by the Internal Revenue Code (IRC).
Gross income is all-inclusive and can include not only cash and property but also benefits received such as services performed for you by someone else, cancellation of a debt you owed, or income tax that was paid on your behalf.
Treasury Regulation § 1.61-2 is indeed the second regulation (-2) promulgated under Code Section 61 of the Income Tax Regulations
(1.)The third statement is True.
Treasury Regulation § 1.61-2 is the second regulation (-2) promulgated under Code Section 61 of the Income Tax Regulations
(1.)However, the fourth statement is False. Performing services by the taxpayer in the taxpayer’s home does not constitute gross income. The IRC does not consider value received from an activity in which an individual invests only personal services to be gross income for federal income tax purposes.
Hence, the answers are:
True False True False.
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After investing in a bond rated AA, you talk to a financial analyst who tells you they believe that the bond rating is likely going to change to A. This situation is best described as... credit spread risk liquidity risk market liquidity risk default risk downgrade risk
After investing in a bond rated AA, you talk to a financial analyst who tells you they believe that the bond rating is likely going to change to downgrade risk. So, option e is correct.
Downgrade risk is the risk that a bond will lose its value due to a decline in credit ratings. It can affect all types of bonds, but it is most commonly associated with corporate bonds. When a bond's rating decreases, it is considered a downgrade.
If an investor has invested in a bond rated AA and a financial analyst tells them that the bond rating is likely to change to A, this situation is best described as downgrade risk. This is because a downgrade from AA to A represents a decline in the bond's credit rating, which can have a negative impact on its value.
Bonds with a higher credit rating are generally considered to be less risky because they are seen as being more likely to be repaid in full and on time. Conversely, bonds with lower credit ratings are seen as being more risky because there is a greater chance that the issuer will default on its debt obligations.
Therefore, a downgrade in credit rating can lead to a decrease in bond prices as investors become more risk-averse. So, option e is correct.
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Complete question:
After investing in a bond rated AA, you talk to a financial analyst who tells you they believe that the bond rating is likely going to change to A. This situation is best described as...
credit spread risk
liquidity risk
market liquidity risk
default risk
downgrade risk
Suppose Intel stock has a beta of 0.71, whereas Boeing stock has a beta of 1.16. If the risk-free interest rate is 3.5% and the expected return of the market portfolio is 11.2%, according to the CAPM, a. What is the expected return of Intel stock? b. What is the expected return of Boeing stock? c. What is the beta of a portfolio that consists of 70% Intel stock and 30% Boeing stock? d. What is the expected return of a portfolio that consists of 70% Intel stock and 30% Boeing stock? (There are two ways to solve this.)
The capital asset pricing model (CAPM) is used to calculate the expected returns of securities, with the aim of creating a balance between risk and reward.Suppose Intel stock has a beta of 0.71, whereas Boeing stock has a beta of 1.16.
If the risk-free interest rate is 3.5% and the expected return of the market portfolio is 11.2%, according to the CAPM, the following is expected:Expected return of Intel stock:Using the formula for CAPM, we get: R_I = R_f + β_I(R_m - R_f)Where, R_f = risk-free interest rate = 3.5%, β_I = beta of Intel stock = 0.71, and R_m = expected return of the market portfolio = 11.2%.
Substituting the values, we have:R_I = 3.5% + 0.71(11.2% - 3.5%)R_I = 9.01%Hence, the expected return of Intel stock is 9.01%.Expected return of Boeing stock:Using the same formula for CAPM:R_B = R_f + β_B(R_m - R_f)Where, R_f = 3.5%, β_B = beta of Boeing stock = 1.16, and R_m = 11.2%.Substituting the values, we have:R_B = 3.5% + 1.16(11.2% - 3.5%)R_B = 12.95%Hence, the expected return of Boeing stock is 12.95%.
Beta of the portfolio:Using the weighted average of the betas of Intel and Boeing stocks:
[tex]β_P = (0.7 × β_I) + (0.3 × β_B)β_P = (0.7 × 0.71) + (0.3 × 1.16)β_P = 0.853[/tex]
Hence, the beta of the portfolio that consists of 70% Intel stock and 30% Boeing stock is 0.853.Expected return of the portfolio:Using the formula:
[tex]R_P = R_f + β_P(R_m - R_f)Where, R_f = 3.5%, β_P = 0.853, and R_m = 11.2%[/tex].
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A 10-year annuity of $12,000 quarterly payments begins 4 years from today. The discount rate is 12%, compounded quarterly. What is the value of the annuity today?
A. $277,377.26
B. $172.852.34
C. $67,802.68
D. $176.278.27
10-year annuity of $12,000 quarterly payments begins 4 years from today. The discount rate is 12%, compounded quarterly, the value of the annuity today is A. $277,377.26
Let's calculate the value of the annuity today.
To do that, we can use the formula:
PV = C x ((1 - (1 + r)^(-n)) / r) x (1 + r)^(-t),
where:PV is the present value
C is the regular payment
r is the discount rate
n is the number of payments per year
t is the time until the first payment
The regular payment is $12,000 and it is paid quarterly, so n = 4 and C = $12,000. The time until the first payment is 4 years, so t = 4.The discount rate is 12% compounded quarterly, so r = 0.12 / 4 = 0.03.The number of payments over the life of the annuity is 10 years x 4 payments per year = 40 payments.
So, the present value of the annuity is:
PV = $12,000 x ((1 - (1 + 0.03)^(-40)) / 0.03) x (1 + 0.03)^(-4)≈ $277,377.26
Therefore, the value of the annuity today is approximately $277,377.26. So, option a is the correct answer.
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Please read the short case study and answer questions c1
Trans Move is a company providing logistical services for businesses to manage the supply chain. The services they provide include warehouse management, order fulfilment, distribution and shipping orders, and thus cover inbound flow, outbound flow, and return management. On top of transportation of freight, Trans Move also manages the distribution of freight for some clients. In some cases, Trans Move stores and manages a client's products in Trans Move's warehouses and decides when to ship the orders, as long as the order fulfilment meets the client's requirements.
question c1
The manager of Trans Move found that one of the key challenges is effectively managing its operations in the presence of variability. State two key sources of variability faced by Trans Move. For each source of variability, explain how the variability makes Trans Move's operations challenging and discuss ways to reduce the impact of variability.
The variability of the supply and demand for freight transportation services can lead to poor operational planning, resulting in missed deadlines. The company has to deal with numerous orders and requests from clients daily, resulting in difficulties scheduling pickups and deliveries for shipments.
The two main sources of variability faced by Trans Move are as follows:
Variability in Demand: The demand for logistics services is constantly fluctuating, making it difficult for Trans Move to efficiently manage its operations. This issue becomes more critical when clients' needs change or when Trans Move's carriers or staffs experience delays or problems. To reduce the impact of variability in demand,
Variability in Transportation: Variability in transportation is another significant source of variability faced by Trans Move. It means that transportation times can fluctuate significantly, from traffic congestion to weather conditions, from a driver's sickness to the availability of equipment.
They can also invest in flexible transportation equipment and vehicles that can be used in different types of weather or terrains. To reduce the impact of transportation variability, Trans Move can take a proactive approach to prepare for unforeseen incidents.
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Marketing Strategies Discussion Topic Scenario: Your boss has recently been elected county supervisor. She campaigned on the platform of creating a seamless system of long-term care for all, starting with coordinating services and programs that are operated and/or funded by county government. You have been assigned the task of delineating the marketing strategy for implementation of this promise. Discuss what growth strategies you would focus on for this marketing campaign in order to expand into new markets. Discuss the resources you would need to implement the marketing plan as it relates to the following: services you would include for your target market, how you would achieve seamlessness, and how you would promote organizing access. Discussion Rubric
Marketing strategies are essential in any company, and it is vital for an organization to adopt a growth strategy for its marketing campaign to expand into new markets. In the scenario, the boss recently campaigned on creating a seamless system of long-term care for all.
This is the task assigned to the marketer to delineate the marketing strategy for the implementation of this promise. In developing a growth strategy for this marketing campaign to expand into new markets, the following are the strategies to consider:
1. Focus on the target market: To achieve a seamless system of long-term care, the target market must be considered. A marketer must focus on the target market's needs and prioritize them.
2. Partnership with local health care providers: In expanding into new markets, a partnership with local healthcare providers will come in handy.
3. Online marketing: Online marketing is an excellent tool for expanding into new markets. A marketer can use social media to market the seamless system of long-term care for all.
4. Seamlessness: Achieving seamlessness in the delivery of long-term care requires inter-departmental coordination and collaboration.
5. Promotion of organizing access: In promoting organizing access, a marketer must develop a strategy that ensures that the public has access to the services.
In conclusion, adopting a growth strategy for a marketing campaign to expand into new markets is essential. In this scenario, the seamless system of long-term care for all is achievable with the right marketing strategy. The resources needed to implement the marketing plan as it relates to the services include adequate human resources, technological resources, and financial resources.
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Operating Cash Flows (Direct Method) The Thurston Company’s current year income statement contains the following data:
Sales revenue . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $790,000
Cost of goods sold . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 550,000
Gross profit . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $240,000
Thurston’s comparative balance sheets show the following data (accounts payable relate to merchandise purchases):
End of Year
Accounts receivable . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 71,000 Beginning of year: $61,000
Inventory . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 120,000 Beginning of year: 96,000
Prepaid expenses . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3,000 Beginning of year: 10,000
Accounts payable . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 31,000 Beginning of year: 35,000
Compute Thurston’s current-year cash received from customers and cash paid for merchandise purchased.
Current year cash received $780,000 and cash paid $560,000
The following is the calculation for Thurston Company’s current-year cash received from customers and cash paid for merchandise purchased.
Cash received from customers = Sales + decrease in accounts receivable
Cash received from customers = $790,000 + ($61,000 - $71,000)
Cash received from customers = $780,000
Cash paid for merchandise purchased = Cost of goods sold + increase in inventory – decrease in accounts payable
Cash paid for merchandise purchased = $550,000 + ($120,000 - $96,000) - ($35,000 - $31,000)
Cash paid for merchandise purchased = $560,000
Therefore, Thurston Company’s current-year cash received from customers and cash paid for merchandise purchased are $780,000 and $560,000, respectively.
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How does studying theoretical perspectives prepare you for being
a manager? Explain each reason with an example.
ontrast the viewpoints for and against social responsibility. Describe the arguments made by leading economists for and against social responsibility.
Studying theoretical perspectives prepares managers by equipping them with critical skills required for decision-making . The theoretical perspectives expose managers to different management approaches that would inform the managers' understanding of different issues they are likely to encounter in their managerial roles.
This discussion will highlight the reasons why studying theoretical perspectives is essential for effective management practices and illustrate each point with an example. Firstly, the study of theoretical perspectives prepares managers for the different approaches required when dealing with different situations in management. In the business world, different situations may require different approaches. For instance, the classical perspective stresses the importance of planning, organizing, and controlling the organization's resources to achieve effectiveness and efficiency. This is best exemplified by Frederick Taylor's scientific management approach that emphasizes efficiency and productivity through worker specialization. On the other hand, the human relations perspective argues that an organization's workers should be treated as a family, and their satisfaction and motivation should be the central focus of management. This is evident in the Hawthorne studies where Mayo and his team discovered that workers' social and psychological needs significantly impact their productivity.
Studying theoretical perspectives helps managers to understand different approaches required when dealing with different situations, analyze different situations and make informed decisions, and balance the interests of different stakeholders to arrive at informed decisions.
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Alfred Chandler described the late 19th century as the accumulation of resources with growth occurring because of horizontal combinations of firms and vertical integration.
How would these same business growth premises fare in 2020? Additionally, provide current examples to bolster your rationale
Alfred Chandler described the late 19th century as the accumulation of resources with growth occurring because of horizontal combinations of firms and vertical integration. These same business growth premises have undergone many changes since then, particularly with the advent of technology in the 21st century.
The following are some of the ways in which these business growth premises have fared in 2020 and beyond.
Firstly, the horizontal combination of firms has given way to a more collaborative business model that seeks to harness the strengths and capabilities of different firms to achieve a common goal.
Secondly, the vertical integration of firms has taken a new form in the 21st century. This has resulted in firms outsourcing certain functions such as manufacturing, distribution, and logistics to third-party vendors.
Thirdly, businesses today are more data-driven, relying on sophisticated analytics tools to identify opportunities and make informed decisions.
Fourthly, Firms are investing heavily in customer engagement and experience to build brand loyalty, increase customer retention, and gain a competitive advantage.
The advent of technology has transformed the way firms operate, resulting in a more collaborative and customer-centric business model. The shift towards data-driven decision-making, outsourcing, and customer experience has become more critical in 2020 and beyond.
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Why do you think Nike continued its contract with Tiger Woods but not Lance Armstrong?
Nike continued its contract with Tiger Woods but not Lance Armstrong due to a combination of factors, including their respective situations, public perception, and the alignment of their actions with Nike's brand image.
Tiger Woods, despite facing personal challenges, still maintained a strong global appeal and recognition as a talented golfer and iconic figure. Nike recognized the enduring value of Woods' brand and his ability to connect with a wide range of consumers. Despite his personal setbacks, Woods' association with Nike remained influential and resonated positively with their target audience.
In contrast, Lance Armstrong's situation was different. Armstrong's public image was severely tarnished by doping allegations and subsequent admissions. His actions and the subsequent loss of credibility had a significant impact on his reputation and public perception. Nike, as a brand, places a high value on integrity and ethical behavior. Given the nature and extent of Armstrong's actions, Nike made the decision to sever ties with him as his association no longer aligned with their desired brand image.
Ultimately, Nike's decision to continue its contract with Tiger Woods and discontinue its relationship with Lance Armstrong was influenced by their assessment of each athlete's image, their actions, and their alignment with Nike's brand values and reputation.
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Thich type of unemployment is not included in the natural unemployment rate? Why? Which phase of the business cycle does is type of unemployment occur in? What is the economic cost of unemployment regarding production and the economy's GDP vel? Explain. "You must write a minimum of 60 words to receive full credit. Cyclical unemployment is not included in the natural unemployment rate, due to it leading in a fall of gross domestic product if its high, and a growth of gross domestic product if its low.
Cyclical unemployment is not included in the natural unemployment rate. It is because it occurs due to business cycles rather than economic structures.
The natural unemployment rate is the equilibrium rate of unemployment caused by changes in the structure of the economy, for instance, the availability of labor and job skills, government regulations, and labor market policies. Cyclical unemployment occurs during the recessionary phase of the business cycle. It happens when there is a decline in aggregate demand in the economy.
As a result, firms cut back on production and demand for labor falls, leading to a decline in employment opportunities. The economic cost of unemployment regarding production and the economy's GDP vel leads to a fall in gross domestic product if its high, and a growth of gross domestic product if its low. The fall in gross domestic product due to unemployment has a considerable impact on the economy.
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Develop a bull’s eye positioning model for Coca-Cola India in the IFCD market.
Coca-Cola's bull's eye positioning model in the IFCD market is an excellent example of a successful marketing strategy. By focusing on their product's core qualities, packaging, messaging, and emotional connection, they have been able to build a brand that is recognized and loved worldwide.
Bull's eye positioning model is a marketing strategy used to reach out to customers. It involves targeting a product to specific customers to build a brand around them. Coca-Cola is one of the most well-known brands in the world, and they have a great bull's eye positioning model in place in the IFCD market.
Here's a breakdown of the model:Core: Coca-Cola's core strategy is to produce high-quality, refreshing beverages that are universally enjoyed. They focus on making sure that their product is available everywhere, from street vendors to high-end hotels.
Inner Ring: The inner ring focuses on the product's packaging and how it can be differentiated from other similar products in the market. Coca-Cola's iconic bottle design helps distinguish the product from other competitors. Second Ring: The second ring focuses on the product's messaging.
Coca-Cola is known for its catchy and memorable slogans such as "Taste the Feeling" and "Open Happiness" which they use to engage with their target audience. Outer Ring: The outer ring is where Coca-Cola focuses on the emotional connection that its brand creates with customers. They have built a brand that is associated with happiness, nostalgia, and fun, which makes people feel good about choosing their product.
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Business-level strategy focuses on
the activities in different functional areas
how to allocate resources among different business units
how to compete in a given business
which businesses to compete in
identifying an attractive industry to compete in
Business-level strategy is a critical aspect of the overall corporate strategy. It is a plan of action that is meant to enhance the competitive advantage of a firm's products or services. This strategy helps the firm in the creation of a sustainable competitive advantage in the chosen market.
Business-level strategy focuses on how to compete in a given business. It involves developing and implementing strategies that enhance the firm's competitive position in the market. This strategy is centered on the following:
Identifying an attractive industry to compete in
The business-level strategy of a firm depends on the attractiveness of the industry. The firm must select an industry that is profitable and is growing rapidly. An attractive industry has high potential returns on investment and low barriers to entry.
Which businesses to compete in
The firm must identify the most profitable business units to compete in. This is done by assessing the attractiveness of the industry, the firm's core competencies, and the level of competition in the industry.
In conclusion, business-level strategy focuses on how to compete in a given business. It involves the identification of an attractive industry to compete in, selecting the most profitable business units, allocating resources among different business units, and coordinating activities in different functional areas.
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Which of the following is an effective way to use critical thinking in business? Accept new information only when it matches my current thinking Expand my level of self-awareness by asking appropriate questions (both of the above) (none of the above)
Critical thinking involves the careful and objective process of assessing a situation and making informed decisions. It requires evaluating a situation, identifying problems, and considering different perspectives to find suitable solutions.
In the context of business, critical thinking plays a crucial role. One effective way to utilize critical thinking is by expanding self-awareness through the use of appropriate questioning. By asking relevant questions, individuals can gain a deeper understanding of themselves, their biases, and their assumptions. This self-awareness enables them to approach business challenges with a more open and objective mindset.
Thus, expanding one's level of self-awareness through asking appropriate questions is a valuable approach to using critical thinking in business.
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Use the following news clip to work Problems below. Music's Value in the Internet Age The price of streaming services has been $10 a month or zero. Amazon and Pandora Media are poised to change the streaming scene. Pandora is a streaming Internet radio service, and its new $5 version will be more like Spotify and Apple Music, which let users create their own playlists. Amazon, which offers limited on-demand music for $99 a year, is expected to expand its catalog and offer it for $10 a month or $5 a month for customers who use the Echo, Amazon's voice-activated speaker system. Source: The New York Times, September 11, 2016 Assume that the marginal social cost of streaming is zero. (This assumption means that the cost of operating a streaming service doesn't change if more people stream more songs.) (1) Draw a graph of the market for streaming music with a price of $10 a month. On your graph, show consumer surplus and producer surplus. (please upload your graph) (2) With a price of $10 a month, the market is . If it is inefficient, show the deadweight loss on your graph in Question 8. (3) If the $5 price described in the news clip were adopted, the consumer surplus will , the producer surplus will and the deadweight loss will (4) If the $5 price described in the news clip were adopted, the market would be as the marginal benefit marginal cost. (5) The $5 price described in the news clip a competitive market price. The competitive price is equal to
(1) The streaming service priced at $10 per month with a marginal social cost of zero results in an inefficient market.
(2) The inefficiency at $10 per month is depicted by the shaded deadweight loss triangle in the graph.
(3) Lowering the price to $5 per month increases consumer surplus, decreases producer surplus, and reduces the deadweight loss.
(4) The market would be more efficient if marginal benefit equals marginal cost.
(5) The $5 price mentioned in the news clip is not a competitive market price; the competitive price would be equal to the marginal cost, which is zero in this case.
(1) Graph: Consumer Surplus and Producer Surplus
In the graph, the streaming service is priced at $10 per month, and the marginal social cost of streaming is zero. This situation leads to an inefficient market.
The graph represents consumer surplus and producer surplus. The consumer surplus is the area above the market price and below the demand curve, while the producer surplus is the area below the market price and above the supply curve.
(2) Inefficiency at $10 per month
At the price of $10 per month, the market is inefficient. This is indicated by the presence of a deadweight loss, which is represented as the shaded triangle in the graph. The deadweight loss occurs when the quantity demanded is lower than the socially optimal quantity.
(3) Changes in consumer surplus, producer surplus, and deadweight loss
If the price decreases to $5, the consumer surplus will increase as the quantity demanded rises. However, the producer surplus will decrease as the price decreases. The deadweight loss will also decrease as the quantity demanded approaches the socially optimal quantity.
(4) Efficiency when marginal benefit equals marginal cost
The market would be more efficient if the marginal benefit equals the marginal cost. This occurs when the price is set at a level where the quantity demanded is equal to the quantity that maximizes social welfare. In other words, efficiency is achieved when the marginal benefit of consuming the last unit is equal to the marginal cost of producing it.
(5) Competitive market price and marginal cost
The $5 price mentioned in the news clip is not a competitive market price. In a competitive market, the price is set equal to the marginal cost. If the marginal cost is zero, as mentioned in this scenario, the competitive price should also be zero. This ensures that the quantity demanded and the quantity supplied are optimized, leading to a more efficient allocation of resources.
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Describe the differences and similarities between charismatic, inspirational, and transformational leadership. You should explore the subject of charismatic, inspirational, and transformational leaders in the 21st century and classify at least three of latest US President in one of those leadership styles.
Provide your response if you agree that on the average, most US Presidents in the 21st Century fall in one of the aforementioned leadership styles. Why or why not? Describe in detail to support your response.
Charismatic leadership is when a leader persuades and motivates others through their personality, traits, and charm. Inspirational leadership is when a leader motivates others through their vision and goals. Transformational leadership is when a leader inspires and influences others through their ability to inspire change and growth.
The latest US Presidents like Barack Obama, Donald Trump, and Joe Biden can be classified into transformational leaders. Barack Obama was known for his inspiring speeches and promises of change, Donald Trump had a unique way of leading his team and was known for his deal-making abilities, while Joe Biden is also known for his ability to bring about change by promising his people a better America.
Most US Presidents in the 21st century fall in one of the aforementioned leadership styles because these styles have proven to be effective in leading and managing a team. Charismatic leaders are able to connect with their team on a personal level, inspirational leaders are able to create a shared vision that everyone can work towards, and transformational leaders are able to inspire change and growth in their team.
Additionally, these leadership styles also promote creativity, innovation, and growth in organizations, which is essential for success in the modern world. Therefore, most US Presidents in the 21st century have adopted these leadership styles in order to be effective in leading their team and achieving their goals.
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You have been asked to develop a plan to get a project back onto schedule by crashing the remaining activities while also minimizing the cost impact. Explain the process you would follow to do these using diagrams and simulated data. Discuss the benefits and risks associated with such a strategy.
Project management is a discipline of planning, organizing, and managing resources to bring about a successful conclusion to specific project objectives and goals. Project scheduling is the process of preparing a schedule, which is a listing of the project's activities, milestones, and deadlines, as well as their dependencies and interdependencies.
It is not always possible to complete a project on schedule, as unanticipated changes in the project's requirements, availability of resources, and unforeseen circumstances may arise. The process begins by identifying the critical path, which is the path through the project with the longest duration. Activities on the critical path must be completed as soon as possible. Any delay in the critical path activities will result in a delay in the project's completion. The process is illustrated below:
[Figure]
Identify critical path activities
Crash the critical path activities by adding resources.
Monitor the progress of the project.
Crash other non-critical path activities if necessary.
Monitor the project's costs.
Benefits:
The time required to complete the project is reduced.
The project's critical path activities are completed faster.
Risks:
Increased project risk due to the additional resources employed.
Increased project cost due to the additional resources employed.
The risk of quality problems due to the addition of new resources.
The risk of overloading resources on the project.
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The Public Company Accounting Oversight Board (PCAOB) has the authority to set and enforce standards for public companies related to: Multiple Choice Ethics (including independence). All of the answers are correct. Quality control. Auditing. Attestation.
The Public Company Accounting Oversight Board (PCAOB) has the authority to set and enforce standards for public companies related to auditing. This includes ethics (including independence), quality control, and attestation as well.
PCAOB stands for the Public Company Accounting Oversight Board. It is a nonprofit organization that has been granted regulatory authority by the United States Congress. This organization oversees audits of public companies in order to ensure the accuracy and transparency of financial information. The PCAOB was created as a response to accounting scandals that arose in the early 2000s, including the Enron and WorldCom scandals.
The board has the power to set and enforce audit standards, investigate and discipline auditing firms, and conduct inspections of auditing firms. It is also responsible for registering and monitoring the activities of auditing firms that perform audits of public companies.
PCAOB sets standards for the following:
1. Auditing
2. Ethics (including independence)
3. Quality control
4. Attestation
Thus, all of the given options are correct.
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Five fisherman live in a village and have no other employment or income earning possibilities besides fishing. They each own a boat that is suitable for fishing but does not have any resale value. Fish are worth $5 per pound and the marginal cost of operating the boat is $500 per month. They all fish in a river next to the village, and they have determined that when there are more of them out there on the river fishing, they each catch less fish per month according to the schedule in the table below: a. If each fisherman acts in his own best interest, will he continue to operate his boat each month? If so, how much income will he earn per month? b. If the fishermen band together and act as a group, how many boats will they choose to operate? If income is divided evenly, how much will each fisherman make?
Five fisherman live in a village and have no other employment or income earning possibilities besides fishing. They each own a boat that is suitable for fishing but does not have any resale value.
Fish are worth $5 per pound and the marginal cost of operating the boat is $500 per month. They all fish in a river next to the village, and they have determined that when there are more of them out there on the river fishing, they each catch less fish per month according to the schedule in the table below: If each fisherman acts in his best interest, he will continue to operate his boat each month.
If a fisherman goes out fishing alone, then he will be the only one to reduce the catch. When each fisherman is fishing, he will earn $400 per month if there are no other fishermen around. This is calculated by multiplying the weight of fish that each fisherman will catch (80 pounds) by the price of each pound ($5), and then subtracting the cost of operating the boat, which is $500. The total revenue from the fish would be $400 if the cost of operating the boat is deducted from the total revenue ($900).b) If the fishermen band together and act as a group, they will operate three boats. If the fishermen agree to work together and pool their resources, they will need to determine the optimal number of boats to operate in order to maximize their profits. The profits will be divided equally among the fishermen. The group's revenue for the three boats will be $1350 (5*90*3*5), and the marginal cost of operating the boats will be $1500 ($500*3). Therefore, if they divide their revenue equally, each fisherman will receive $270 per month ($1350/5).
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Please read the short case study below, and answer Questions C2.
Trans Move is a company providing logistical services for businesses to manage the supply chain. The services they provide include warehouse management, order fulfilment, distribution and shipping orders, and thus cover inbound flow, outbound flow, and return management. On top of transportation of freight, Trans Move also manages the distribution of freight for some clients. In some cases, Trans Move stores and manages a client's products in Trans Move's warehouses and decides when to ship the orders, as long as the order fulfilment meets the client's requirements.
question C2
Two fundamental principles of logistics management, especially transportation management, are economy of scale and economy of distance. Describe the concept of economy of scale and economy of distance, respectively. Give examples of economy of scale and economy of distance, respectively, in the context of Trans Move.
Economy of Scale: It's a fundamental principle of logistics management that refers to the cost savings that a business may enjoy when they increase the volume of their operations.
The theory is that when the volume of production increases, the cost per unit goes down. Economy of scale applies to transportation when a company decides to move larger amounts of products at the same time. Trans Move can take advantage of economies of scale by transporting a large quantity of goods in a single trip or utilizing their warehouses to store a client's products in bulk, resulting in cost savings for the client and the company.
Economy of Distance: It is a fundamental principle of logistics management that refers to the cost savings that a business may enjoy when they reduce the distance between their operations and the final destination of the products. By reducing the distance, a company reduces the transportation cost and time, which improves efficiency.
This applies to transportation when a company decides to move their products closer to their customers or move their production facilities closer to their suppliers. Trans Move can take advantage of economies of distance by optimizing their transport routes and finding the most cost-effective way to move their clients' products. They can also set up warehouses that are closer to their clients' final destinations, allowing for faster and more efficient distribution.
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Target Inventory Warning Portends Retail Bloodbath, WSJ, June 7, 2022 The retailer on Tuesday lowered its operating margin guidance for its second quarter to 2% less than half the margin it telegraphed three weeks ago. The company said it is taking actions to "right-size" its inventory, which will involve more discounts and canceling orders. With reference to the disruptions caused by the COVID-19 pandemic briefly discuss the challenges retail companies are facing with respect to their inventory management. Short Answer Toolbar navigation BIUS = |0|0 קוון I!!! IMI > 57 ку JPMorgan's Jamie Dimon Says Pandemic is Moving to the Rearview Mirror (October 13, 2021) JPMorgan's third-quarter profit rose 24%, though that was largely thanks to a release of rainy-day funds socked away during the pandemic's darkest days. Revenue was up just 1% and below Wall Street expectations. Bank earnings have been on a wild ride since last year. Early in the pandemic, the firms stockpiled billions of dollars to prepare for the coronavirus recession, sending profits sharply lower. But the economy bounced back much more quickly than expected. Banks have been releasing those reserves for several quarters, sending their profits sharply higher. Now investors are trying to figure out what the new normal looks like for the industry. With reference to the accounting for allowance for credit losses (doubtful accounts), briefly explain how JPMorgan posted a substantial increase in net profits from the prior year in spite of revenues only increasing by 1%. Short Answer Toolbar navigation BI US ≡≡ Ev
The COVID-19 pandemic created volatile consumer demand and supply chain disruptions, making it challenging for retailers to accurately forecast and manage inventory levels, resulting in stockouts and excess inventory that affected profitability.
The disruptions caused by the COVID-19 pandemic have presented significant challenges for retail companies in terms of inventory management. One major issue has been the volatility in consumer demand.
Lockdowns, social distancing measures, and shifting consumer behavior have led to unpredictable fluctuations in product demand. Some retail sectors, such as apparel and luxury goods, experienced a sharp decline in sales as consumers prioritized essential items and reduced discretionary spending.
On the other hand, sectors like home fitness equipment and home office supplies saw a surge in demand. These sudden shifts in demand patterns made it difficult for retailers to accurately forecast and manage their inventory levels.
Supply chain disruptions also played a role in inventory challenges. Global lockdowns and restrictions led to factory closures, transportation delays, and shortages of raw materials, making it challenging for retailers to maintain sufficient inventory levels.
This led to stockouts of popular items or excess inventory of slow-moving products, both of which negatively impact profitability.
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