Within a competitive sector, corporations generate distinction through exceptional marketing assertions to invite customers.
What is the false statement?In this selection, number two is inaccurate.
This is because a sole proprietorship is a practice of business structure that only has one head who is accountable for all company operations. The precise explanation applies to a partnership or a limited liability company (LLC) with various proprietors.
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Select the false statement from the following concerning businesses:
A business plan is an indispensable document utilized to chronicle a company's initiatives and approaches to accomplish them.
In a sole proprietorship, diverse owners are allotted liability for a firm's operations.
A SWOT appraisal is a methodology that assesses a corporation's fundamental strengths and deficiencies, in addition to external openings and risks.
Provide the adjusting journal entries at year-end 2019 for the following independent situations using the perspective of the business (assume calendar year). Make your own explanations as well.
1. On March 1, 2019, Xylophone Tutorials borrowed money from Metrobank to be used in business, and issued an interest-bearing note for the P285,000. The bank loan is payable after three years with an annual interest of 15%.
2. Guitar Café received the following bills covering the month of December 2019 on January 3, 2020: advertising of P19,800, repairs of P2,000, and utilities of P4,860.
3. Harp Beauty Shop pays salaries for the first half of the month every 25th day of the current month and the second half every 10th day of the succeeding month. The salaries for the second half of December 2019 amounted to P35,000.
Drumstick Chickens rendered catering services last December 15, 2019. The contract price amounted to P75,000. Since no payment had been received yet, Drumstick did not make any journal entry last December 15, 2019.
4. On May 1, 2019, Piano Services received a P450,000, 9% note for selling equipment not being used anymore in the business. The note will be payable in two years.
5. On March 1, 2019, Finland Tutorials received P60,000 representing an advance payment for services to be rendered in November 2019. This was booked using a real account. At year-end, only 70% of the expected service was rendered.
6. The trial balance of Mongolia Café shows Kitchen Supplies and Kitchen Supplies Expense accounts at balances of P8,400 and P0, respectively. At year-end, there are P1,480 of supplies on hand.
7. On June 15, 2019, Russia Beauty Shop paid P18,000 to Secure Insurance Company for a three-year insurance policy. This was taken up in the books using a nominal account.
Which of the following spelling words contain two syllables that are divided between two consonants? Select all that apply.
universe
public
congress
comment
pardon
eclipse
Spelling words that contain two syllables that are divided between two consonants are public, congress and comment.
Speech sounds called consonants are made by blocking airflow in the vocal tract with the lips, tongue, teeth, or palate. There are 21 consonant sounds in English, and each of these can be further categorized based on where and how they are pronounced. here public, congress and comment has two syllables.
public has pub+lic
congress has con+gress
comment has com+ment
consonants are a important element of english to express speech and in writing.
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Suppose that a portfolio management company manages an investment fund. The fund
manager observes a bond in the market and intends to add it to the fund portfolio. The
bond has a 100.000 TL par value, 10% coupon rate (coupon payments are annual) and a
6-years maturity. The business model is to “hold-to-maturity”. The company purchases
the bond at the beginning of the year when the market yields are 8%. After exactly 3
years of investment, market yields increase to 12%. What would be the profit or loss
amount in the income statement for that third year?
a) 1.427,92 TL loss
b) 1.470,06 TL profit
c) 8.529.94 TL profit
d) 10.000 TL loss
Answer: The correct answer is (a) 1.427,92 TL loss.
Explanation:
To calculate the profit or loss for the third year, we need to determine the market value of the bond at the end of the second year and compare it to the par value of 100,000 TL.
At the beginning of the investment, the bond has a coupon rate of 10% and a market yield of 8%, so its price is:
PV = (10000/1.08) + (10000/1.08^2) + (110000/1.08^3) = 104,406.40 TL
After 3 years, the market yield has increased to 12%, so the bond's price would have changed to reflect this new yield. To calculate the new price, we can discount the remaining coupon payments and the par value at the current market yield:
PV = (10000/1.12^1) + (10000/1.12^2) + (10000/1.12^3) + (100000/1.12^3) = 88,572.08 TL
The market value of the bond at the end of the second year is 88,572.08 TL, which represents a loss compared to the par value of 100,000 TL:
Loss = 100,000 - 88,572.08 = 11,427.92 TL
Therefore, the correct answer is (a) 1.427,92 TL loss.
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2. Using Kelley's typology, how would you describe the follower styles for Schultz and Curley? What about McQueary?
Kelley's typology classifies followers into five styles: conformist, pragmatic survivor, passive, alienated, and exemplary.
Why is this so?Based on his actions and behavior in the workplace as a follower, Schultz would fit the category of exemplary follower style. His unwavering dedication and commitment to Starbucks as an employee was evident in his constant search for ways to enhance the company's products and operations.
Conversely, Curley exhibited a conformist follower style by adhering to traditional methods of operation and following expectations set by superiors.
Although McQueary's follower style cannot be firmly placed into a single category due to his inconsistent behavior and actions, it is noteworthy that he demonstrated commendable behavior by reporting the misconduct he observed.
However, at times, his passive attitude was evident through his failure to pursue further action or follow up on his initial report.
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Tax-Sheltered Returns. Ashley Travis, of Harrisburg, Illinois is in the 25 percent marginal tax bracket and is considering the tax consequences of investing $2,000 at the end of each year for 30 Years in a tax-sheltered retirement account, assuming that the investment earns 8 percent annually.
(A) How much will Ashley's account total over 30 years if growth in the investment remains sheltered from taxes?
(B) How much will the account total if the investments are not sheltered from taxes (Hint: Use Appendix A-3 or the Garman/Forgue companion website)
Ashley's account will total approximately $19,570.09 after 30 years if growth in the investment remains sheltered from taxes, and the investments are not sheltered from taxes is $12,225.87.
To calculate the total amount in Ashley's account after 30 years if growth in the investment remains sheltered from taxes, we can use the formula for compound interest;
A = P × [tex](1+r)^{n}[/tex]
Where; A = Total amount in the account after n years
P = Initial investment amount ($2,000)
r = Annual interest rate (8% or 0.08)
n = Number of years (30)
Plugging in the values, we get;
A = $2,000 × (1 + 0.08)³⁰
Now, we can calculate the value of A;
A = $2,000 × (1.08)³⁰ ≈ $19,570.09
So, Ashley's account will total approximately $19,570.09 after 30 years if growth in the investment remains sheltered from taxes.
To calculate the total amount in Ashley's account after 30 years if the investments are not sheltered from taxes, we need to account for the taxes on the investment returns. Since Ashley is in the 25% marginal tax bracket, she will pay taxes on the investment returns at a rate of 25%.
Let's, calculate the annual compounded interest on the investment without considering taxes;
Annual interest without taxes = P × r
Annual interest without taxes = $2,000 × 0.08 = $160
Calculate the taxes on the annual interest at a rate of 25%:
Taxes on annual interest = Annual interest without taxes × Tax rate
Taxes on annual interest = $160 × 0.25 = $40
Therefore, Net annual interest = Annual interest without taxes - Taxes on annual interest
Net annual interest = $160 - $40 = $120
Calculate the total amount in the account after 30 years with taxes using the net annual interest;
Total amount with taxes =[tex](P+ Net annualinterest)^{n}[/tex]
Total amount with taxes = ($2,000 + $120)³⁰
Using a calculator, we can calculate the value of the total amount with taxes;
Total amount with taxes = ($2,000 + $120)³⁰ ≈ $12,225.87
So, Ashley's account will total approximately $12,225.87 after 30 years if the investments are not sheltered from taxes.
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With the company president’s permission, you’ve thought of a variety of incentives to get employees to attend the workshops. Which of the following would not be an effective incentive?
A well-designed incentive program, among other things, has a clearly stated objective, defines regulations, makes incentives obvious, focuses on goal commitment, welcomes competition, and utilizes risk. Promotion, job stability, and employee engagement are the other three possibilities listed in the question.
These non-financial incentives center on the psychological and social demands of the employees. In this study, a company encourages workers to produce quality work, and when they do, they are rewarded for their efforts. These incentives encourage workers, who become more devoted to their employers because they believe they are being considered for both their contributions and needs.
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I actually want to delete the question. How can I do that?
7- The cash records of a company show the following consecutive transactions:
- The June 30 bank reconciliation indicated that deposits in transit totaled X TL. During
July the general ledger account for “Cash” shows deposits of 10.600 TL, but the bank
statement indicates that only 9.840 TL in deposits were received during the month.
- In August, deposits per the bank statement totaled 30.600 TL; deposits per books
35.000 TL and deposits in transit at August 31 were 9.500 TL.
What was X?
a) 4.340 TL
b) 5.100 TL
c) 13.140 TL
d) 1.260 TL
8- Suppose that, as a fund manager, you purchase 5.000 bonds of Company X on 1 Jan.
2022 for 1.000 TL each in order to earn coupon payments or sell when available.
Simultaneously, you also purchase 4.000 bonds of Company Y for 750 TL each for trading
purposes. The price of the bonds of Company X increases to 1.200 TL first, but after
some days it drops to 1.120 TL and you immediately sell half of the bonds. On the other
hand, the price of the bonds of Company Y drops to 700 TL first, but after some days it
increases to 760 TL and you immediately sell half of the bonds. Assuming that there are
no more price movements throughout the year, what would be the profit or loss as of
the year end?
a) 300.000 TL profit
b) 200.000 TL loss
c) 220.000 TL profit
d) 120.000 TL loss
7. The deposit-in transit for the month of July will be 4.310 TL. The correct answer is option A.
8. The profit or loss as of year end will be 560.000 TL. None of the given option is correct.
A deposit in transit is money that a corporation has received and documented in its accounting system. The money has already been delivered to the bank, but it has yet to be processed and credited to the account.
The deposit in transit for July is calculated as:
Deposit in transit for July = Cash deposits in the year - Amount as per bank statement
=10600-9840 = 760TL
The excess deposit in transit for August :
Deposit in transit for August = Cash deposits in the year - Amount as per bank statement- Deposit-in- transit
= 35,000 TL -30600TL-9500
= 5100TL
Gain for Company X is =5,600,000- 5,000,000 = 600,000 TL.
Loss for Company Y = 3,000,000TL -3,040,000TL = 40,000TL
∴Net profit or loss = 600,000-40,000 =560,000TL.
Therefore, deposit in transit for June will be 4340 TL(5100-760).
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