Digital banking has revolutionised banking services, offering more convenience, cost savings, and financial inclusion. However, there are some risks that should be considered before using digital banking services such as fraud, identity theft, and data theft.
Digital banking is an innovative form of banking that allows customers to access financial services through the internet, as opposed to physical banking in a branch. The digital banking revolution has brought many advantages, such as greater convenience, cost savings, and increased financial inclusion.
The main advantage of digital banking is the convenience that it offers. Customers can access their accounts and make transactions from anywhere in the world, at any time of the day. This is particularly useful for people who have busy lives, as it removes the need to physically visit a bank branch. Additionally, customers can set up direct debits, transfer funds, and manage their finances through online banking apps or websites, saving time and effort.
Another advantage is that digital banking is often cheaper than traditional banking. Many banks offer online-only accounts which are cheaper than regular accounts as they do not need to pay for staff and other costs associated with running physical branches. Additionally, customers are more likely to receive better deals when it comes to loans, mortgages, and other services online, as there is more competition.
Digital banking has also increased financial inclusion, meaning that more people now have access to the same banking services. Many banks are now offering accounts with no minimum balance, no fees, and no paperwork, making them much more accessible to those who do not have a lot of money or resources. This has allowed more people to access services such as paying bills, setting up direct debits, and making investments.
However, digital banking also has some disadvantages. As with anything online, it is vulnerable to cyber-attacks, such as fraud, identity theft, and data theft. Additionally, the risk of technical glitches can lead to funds being misdirected or lost, or transactions not going through. Furthermore, some people may be uncomfortable with using digital banking services due to privacy concerns, particularly if they are not confident in their own IT security.
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Q.. In the Budgeting exercise, the first forecast that is needed
is the Sales Forecast?
A. True
B. False
True as The Sales Forecast is indeed the first forecast that is needed in the Budgeting exercise. (A)
This forecast helps determine how much revenue the company expects to generate in the upcoming period, which is essential for creating a budget. The Sales Forecast is typically based on historical sales data, market trends, and other factors that may impact sales.
Once the Sales Forecast is completed, the company can then use this information to create a budget for expenses, such as cost of goods sold, marketing, and other operating costs. (A)
Overall, the Sales Forecast is a crucial first step in the budgeting process, as it helps the company plan for the future and make informed financial decisions.
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A resident citizen taxpayer sold share of stock of a domestic corporation though the local stock exchange at its fair market value amounting to P550,000. Cost of the shares sold is P300,000.Compute for the capital gains tax.Group of answer choicesa. 0b. P15,000c. P33,000d. P18,000
The capital gains tax is 0. Therefore, A: "0" is the correct answer.
The capital gains tax on the sale of stocks of a domestic corporation through the local stock exchange is 0%. This is because, under Section 127 (A) of the National Internal Revenue Code, gains derived from the sale, exchange, or disposition of shares of stock in a domestic corporation through the local stock exchange are exempt from capital gains tax. Therefore, the resident citizen taxpayer will not have to pay any capital gains tax on the sale of the shares of stock.
Thus, the capital gains tax is A: 0.
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There is a growing movement in the United States led by the progressive wing of the Democratic Party to have the federal minimum wage raised to $15/hr. Some people agree with the $15/hr minimum wage for the United States, while others oppose raising the minimum wage. The arguments against raising the minimum wage range from the government should not dictate salaries to it will cause low wage workers to lose their jobs since businesses cannot afford a $15/hr minimum wage.
Do you agree with a $15/hr federal minimum wage? The current federal minimum wage in the United States is $7.25/hr. Fully explain your position on this issue in 2 - 3 paragraphs.
Source: Surviving an Unlivable Wage l Full Documentary (Financial Literacy)
In my opinion, minimum wage should be increased because an increase in minimum wage would reduce poverty, increase consumer spending, and promote economic growth.
Why Should Minimum Wage be Increased?Minimum wage has not kept pace with inflation, and that the current federal minimum wage of $7.25/hr is not a living wage in most parts of the United States. A $15/hr minimum wage would provide a more realistic living wage for many low-wage workers, but there is disagreement on whether this should be achieved through federal legislation or through individual state action.
Ultimately, whether or not to raise the minimum wage is a complex issue that involves balancing the needs of workers, businesses, and the overall economy. It is important for policymakers to carefully consider the potential impacts of any minimum wage increase and to find ways to support low-wage workers without unduly burdening businesses.
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Explain the economic process involved with Minimum Wage.
a) What is the economic concept that we learned in class that is associated with the
Minimum Wage? (1 Mark) Explain it (3 Marks).
b) Introducing a minimum wage into the economy will "artificially" force what economic concept that is discussed in Chapter 2 to come about? (1 Mark) Explain it and use the labour market as an example in your explanation. (3 Marks)
c) Use your example to provide two economic arguments for or against the
implementation of the minimum wage in Toronto, Canada. (4 Marks).
d) If there is an increase of government regulations among firms in the labour market, will the supply curve or demand curve shift? (1 Mark)
e) Would it be an increase or decrease? (1 Mark)
f) What effect could this shift have on the minimum wage situation? (2 Marks)
a) The economic concept associated with Minimum Wage is price floor. b) Introducing a minimum wage into the economy will “artificially” force the economic concept of wage floor to come about. c) Two economic arguments for the implementation of the minimum wage in Toronto, Canada are that it would help raise the wages of lower-income individuals, reduce poverty, and help stabilize the incomes of those with lower-earning capacities. d) If there is an increase of government regulations among firms in the labour market, the supply curve will shift.
e) The shift would be an increase. f) An increase in government regulations could lead to an increase in wages for workers,
In the case of Minimum Wage, it is a law set by the government that all employers must pay workers a certain minimum wage. Wage floor is when a government sets a minimum wage that employers must pay their workers. This affects the labour market because employers must raising the labour price.
Conversely, two arguments against the implementation of the minimum wage are that it may result in a reduction of available jobs and it may reduce the competitiveness of the labour market if wages become too high.
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Albert Einstein once said ' we cannot solve today`s problems bythinking in the same way we thought when we created them'' Discussthis view in the context of effective leadership.
Albert Einstein's quote highlights the importance of adaptability and innovation in solving problems. In the context of effective leadership, this means that leaders should be open to new ideas and approaches in order to address current challenges.
For example, if a company is experiencing a decline in sales, a leader should not rely on the same strategies that may have worked in the past. Instead, they should be open to exploring new marketing techniques or reevaluating their product offerings.
Furthermore, effective leaders should be able to recognize when their current way of thinking is not working and be willing to change their approach. This requires a level of self-awareness and humility, as well as the ability to listen to feedback from others.
In conclusion, effective leadership requires the ability to adapt and innovate in order to solve problems. Leaders should not rely on the same way of thinking that may have contributed to the problem in the first place, but instead be open to new ideas and approaches.
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Outline: Introduction Mission Vision, Goals, and Objectives Practice Activities A Closer Look Voluntrip 1. Select the mission and vision statements 2. Write your own mission and vision statements. 3. Differentiate between goals and objectives. 4. Write your own goals and objectives
Mission and vision statements are statements that describe the purpose and direction of an organization. Mission statements explain why the organization exists and what it is trying to achieve. Vision statements describe the organization’s desired future state.
Goals and objectives, on the other hand, are more specific and actionable plans for achieving the mission and vision statements. Goals are broad statements of what an organization hopes to achieve in the long-term, while objectives are more specific, measurable, and time-based plans for achieving the goals.
For example, a mission statement for a volunteer organization might be “to empower communities by providing meaningful volunteer opportunities.” The corresponding vision statement might be “to create a world where everyone has access to meaningful volunteer opportunities, regardless of their socio-economic status.”
Goals for this organization might include increasing volunteer engagement, expanding the number of volunteer opportunities, and engaging more diverse communities. Objectives might include increasing the number of volunteer hours logged by 20% by the end of the year, offering at least five new volunteer opportunities by the end of the year, and recruiting volunteers from at least five new underserved communities by the end of the year.
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Your real estate group has narrowed down investment property to two locations. The return you need is 14%. After market analysts has researched market rents for comparable properties, calculate NPV and IRR for both properties. Which of the two properties would you chose? Property 1 Property 2 Year Cash Flow Year Cash Flow 0 -$1,000,000 0 -$975,000 1 250,000 1 -50,000 2 400,000 2 750,000 3 700,000 3 675,000 A. Property 1. NPV = $18,492 IRR = 14.79% B. Property 2 NPV = $13,847 IRR = 14.64% C. Property 2 NPV = $9,304 IRR = 14.53% D. Property 1 NPV = $13,847 IRR = 14.64%
Based on the calculations of net present value (NPV) and internal rate of return (IRR), the property with the highest NPV and highest IRR should be chosen. The correct answer is A. Property 1. NPV = $18,492 IRR = 14.79%.
To calculate the NPV and IRR for both properties, we can use the following formulas:
NPV = ∑ (Ct / (1 + r) ^ t) - C0
Where:
Ct = cash flow at time t
r = discount rate
C0 = initial investment
IRR = the discount rate that makes the NPV of an investment equal to zero
For Property 1:
[tex]NPV = (250,000 / (1 + 0.14) ^ 1) + (400,000 / (1 + 0.14) ^ 2) + (700,000 / (1 + 0.14) ^ 3) - 1,000,000[/tex]
NPV = $18,492
IRR = 14.79%
For Property 2:
[tex]NPV = (-50,000 / (1 + 0.14) ^ 1) + (750,000 / (1 + 0.14) ^ 2) + (675,000 / (1 + 0.14) ^ 3) - 975,000[/tex]
NPV = $13,847
IRR = 14.64%
Based on the calculations, Property 1 has a higher NPV and IRR, making it the better investment choice.
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Free-trade zones and free trade agreements are basically the same things?
True
False
It is a false statement that free-trade zones and free trade agreements are basically the same things.
What is difference in Free-trade zones and free trade agreements?Free-trade zones and free trade agreements are both initiatives that promote international trade and economic growth by reducing barriers to trade between countries. However, they differ in their approach and scope.
Free-trade zones are designated geographic areas where goods can be imported, manufactured, and exported without being subject to the tariffs and other trade barriers that apply outside the zone. This allows businesses to take advantage of lower costs and greater efficiency by setting up operations in the zone. Examples of free-trade zones include Dubai's Jebel Ali Free Zone and China's Shenzhen Special Economic Zone.
Free trade agreements are agreements between two or more countries that establish mutually beneficial terms for trade between them. They eliminate or reduce tariffs and other trade barriers on goods and services traded between the countries, and may also address other issues such as intellectual property rights
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In Oct 2018, the Winterfell city council met to decide how much road salt the city would purchase for the coming winter 2018-2019. Each year, the state of the North solicits a statewide bid for bulk ice control salt allowing those who participate to receive advantageous pricing. This year, the low bidder for "early fill" salt, purchased before the winter season in October, is $31.50 per ton. The low bidder for seasonable back-up salt is $36.30, which can be purchased during the winter season. Based on the salt usage in the past few years and snow forecast for the coming winter, the city council estimated that the amount of road salt needed for this winter follows a normal distribution with mean 7300 tons and standard deviation 600 tons.
a. How many tons of "early fill" salt should the city council purchase to minimize costs?
b. The city finds that they can sell the leftover salt at the end of the winter season to other northern cities at $18.50 per ton. How many tons of "early fill" salt should the city council purchase given they can sell the leftover salt?
The city council should purchase 8400 tons of "early fill" salt given they can sell the leftover salt at $18.50 per ton.
a. To minimize costs, the city council should purchase enough "early fill" salt to cover the expected usage for the winter, which is 7300 tons. This will ensure that they do not have to purchase any of the more expensive seasonable backup salt at $36.30 per ton. Therefore, the city council should purchase 7300 tons of "early fill" salt at $31.50 per ton to minimize costs.
b. If the city can sell the leftover salt at the end of the winter season at $18.50 per ton, they should purchase more "early fill" salt to take advantage of the lower price. The amount of "early fill" salt they should purchase can be calculated by finding the point at which the cost of purchasing "early fill" salt and selling the leftover salt is equal to the cost of purchasing only the amount of salt needed for the winter. This can be found by solving the equation:
$31.50x - $18.50(x - 7300) = $31.50(7300)
Solving for x gives:
x = 8400 tons
Therefore, the city council should purchase 8400 tons of "early fill" salt given they can sell the leftover salt at $18.50 per ton.
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How can a manager ensure that job evaluation or skill-/competency-based plans support a customer-centered strategy?
A manager can ensure that job evaluation or skill-/competency-based plans support a customer-centered strategy by taking some steps like Identify the key skills,Provide training, evaluate employees,Provide rewards.
Identify the key skills and competencies that are required for customer-centric roles.Develop a job evaluation plan that assesses employees based on these key skills and competencies.Provide training and development opportunities for employees to enhance their skills and competencies in customer-centric areas.Monitor and evaluate employees' performance in customer-centric roles to ensure they are meeting the required standards.Provide rewards and recognition for employees who excel in customer-centric roles.By taking these steps, a manager can ensure that their employees are equipped with the necessary skills and competencies to effectively support a customer-centered strategy.For such more questions on job evaluation :
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business communication
Explain the process of the 8 stages during the
occurrence of a miscommunication between Shareholders or Directors
of a company that result in the closing of the company.
The 8 stages of miscommunication that can occur between Shareholders or Directors of a company and result in the closing of the company are as follows Assumption , Misinterpretation , Lack of clarification ,Reaction,Escalation, Blame , Breakdown , Closure.
1. Assumption: One party assumes that the other party understands their perspective or intention without explicitly stating it.
2. Misinterpretation: The other party interprets the message in a way that was not intended by the sender.
3. Lack of clarification: Neither party seeks clarification on the misinterpreted message, leading to further confusion.
4. Reaction: One or both parties react to the miscommunication, often with negative emotions such as anger or frustration.
5. Escalation: The miscommunication escalates into a larger conflict, with both parties becoming more entrenched in their positions.
6. Blame: Each party begins to blame the other for the miscommunication and resulting conflict.
7. Breakdown: Communication between the parties breaks down completely, with neither party willing to listen or compromise.
8. Closure: As a result of the breakdown in communication, the company is unable to function effectively and is forced to close.
By understanding and being aware of these stages, Shareholders and Directors can work to prevent miscommunication and the potential negative consequences that can result from it.
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Quality Cost (data) Quarter 1 Quarter 3 Quarter 2 300 Quarter 4 5 20 20 100 150 120 10 8,000 8,000 10,000 3,000 Item unit Supplier survey $ 1,000 Training $ 1,000 Inspection salary $ 1,000 and expenses Laboratory tests $ 1,000 In-house rework $ 1,000 In-house scrap $ 1,000 Complaints $ 1,000 handling Customer's $ 1,000 penalty Sales Volume $ 1,000 Labour hour 1,000 hours 4,000 3,000 7,000 4,200 3,500 8,500 4,300 3,600 8,000 4,000 3,200 3,000 1500 200 400 800 10,000 21,000 52,000 36,000 200,000 350,000 400,000 130,000 600 750 720 700 Output Volume 1,000 pieces 2,000 4,000 5,000 2,000 2 Quality Cost Exercise I. Evaluate the quality cost data together with appropriate ratios and curves. a) Tabulate the ratios and draw the curves; insert into the Word file. b) Interpret the quality management problems w.r.t. outputs of part a. II. Recommend actions Wonder should have carried out / initiated in 2015 Quarter 3 which can prevent the quality issues leading to the company failure.
Recommendations for action in 2015 Quarter 3 which can prevent the quality issues leading to the company failure should include implementing process improvement plans, improving quality assurance processes, and enhancing the focus on customer satisfaction.
To evaluate the quality cost data, you should tabulate the ratios and draw the curves, and then interpret the quality management problems with respect to the outputs of part a. The ratios and curves should include items such as the quality cost rate, which is the ratio of quality cost to output volume; quality cost per unit, which is the ratio of quality cost to output quantity; and the quality cost trend line, which is the relationship between quality cost and output volume over a period of time.
Additionally, Wonder should carry out internal audits to identify quality issues and take steps to address them. Regular employee training on quality management topics should be conducted, as well as implementing measures to reduce waste and improve productivity. Finally, Wonder should have increased the inspection and testing of materials, products and processes to identify any potential issues.
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Identify and define at least three (3) factors that need to be balanced in creating an effective diversity and inclusion strategy. Identify and explain in detail what are the trade-offs that organizations need to consider
There are many factors that need to be balanced in creating an effective diversity and inclusion strategy, but three key factors are: Representation, Inclusion and Accountability
1. Representation: Ensuring that the organization's workforce reflects the diversity of the community it serves is important for creating an inclusive environment. This means recruiting and hiring employees from diverse backgrounds, including race, gender, age, religion, and sexual orientation.
2. Inclusion: Creating an inclusive culture means ensuring that all employees feel valued, respected, and supported. This includes providing training on diversity and inclusion, promoting open communication and collaboration, and creating policies that support equity and fairness.
3. Accountability: Organizations need to be held accountable for their diversity and inclusion efforts. This includes setting measurable goals, tracking progress, and holding leaders accountable for promoting diversity and inclusion.
There are also several trade-offs that organizations need to consider when creating a diversity and inclusion strategy. One trade-off is the cost of implementing diversity and inclusion initiatives, which can include training, recruitment, and other expenses.
Another trade-off is the potential for conflict or resistance from employees who may not understand or support the organization's diversity and inclusion goals. Overall, organizations need to carefully balance these factors and trade-offs in order to create an effective diversity and inclusion strategy.
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Post Card Depot, an large retailer of post cards, orders 8,069,120 post cards per year from its manufacturer. Post Card Depot plans on ordering post card 24 times over the next year. Post Card Depot receives the same number of post cards each time it orders. The carrying cost is $0.08 per post card per year. The ordering cost is $306 per order. What is the annual carrying costs of post card inventory (round the answer to two decimal places)?
The annual carrying costs of post card inventory are $13,448.60.
To find the annual carrying costs of post card inventory, we need to calculate the average inventory level and multiply it by the carrying cost per post card per year. The average inventory level is the total number of post cards ordered in a year divided by the number of orders, divided by 2 (since the average inventory level is the midpoint between the maximum and minimum inventory levels).
Average inventory level = (8,069,120 post cards / 24 orders) / 2 = 168,107.5 post cards
Annual carrying costs = Average inventory level × Carrying cost per post card per year = 168,107.5 post cards × $0.08 per post card per year = $13,448.60
Therefore, the annual carrying costs of post card inventory are $13,448.60.
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Write a short note on managing change,setting vision communicating and project managing the change
Managing change, setting vision, communicating, and project managing the change are all important elements of successfully implementing change in an organization. Change management involves creating a vision and communicating that vision to all stakeholders in the organization, as well as setting a timeline for the change and managing any associated projects to ensure that the change is successfully implemented.
Managing change is a critical aspect of business success, and it involves setting a clear vision, effectively communicating that vision, and effectively managing the process of implementing the change. Setting a vision involves clearly defining the desired end state and the steps that need to be taken to achieve that state. Communicating the vision involves ensuring that all stakeholders are aware of the change and understand why it is necessary. Project managing the change involves creating a plan, monitoring progress, and making necessary adjustments along the way. By effectively managing change, setting a clear vision, communicating effectively, and project managing the process, businesses can successfully implement change and achieve their desired outcomes.
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In a regression of the single-index model, the R-square is 68%,
residual variance is 0.08, beta estimate is 0.7. What is the
variance of the market excess return? (round 4 decimal places)
Variance of market excess return = 1.8503 .
In a regression of the single-index model, we can use the formula for R-square to find the variance of the market excess return.
The formula for R-square is:
R-square = (beta^2 * variance of market excess return) / (beta^2 * variance of market excess return + residual variance)
Given that R-square = 68%, beta = 0.7, and residual variance = 0.08, we can plug in these values and solve for the variance of market excess return:
0.68 = (0.7^2 * variance of market excess return) / (0.7^2 * variance of market excess return + 0.08)
0.68 * (0.7^2 * variance of market excess return + 0.08) = 0.7^2 * variance of market excess return
0.68 * 0.7^2 * variance of market excess return + 0.68 * 0.08 = 0.7^2 * variance of market excess return
0.68 * 0.08 = 0.7^2 * variance of market excess return - 0.68 * 0.7^2 * variance of market excess return
0.0544 = 0.0294 * variance of market excess return
Variance of market excess return = 0.0544 / 0.0294
Variance of market excess return = 1.8503
Therefore, the variance of the market excess return is 1.8503 (rounded to 4 decimal places).
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Please post detailed answers to the following questions. Please use complete sentences. You've learned about four skills you need to succeed when working in a group: cohesion, responsibility and accountability, problem solving, and organization. Which do you believe is the most important factor to group success? Give specific reasons for your answer.
Responsibility and accountability is the most important factor to group success.
Accountability means that the team keeps its promises, completes projects on time, and achieves its objectives. Team accountability necessitates that each individual be held accountable for their own part, which includes both day-to-day work and long-term objectives.
Why is accountability crucial to success?Tolerating liability is vital for progress since it assists you with managing your errors without being overloaded by lament, culpability, or disgrace. As a person gets better at admitting that they are not perfect and doing what needs to be done to make up for them, it also builds character.
Why is the value of responsibility so important?Responsibility is important because it gives people a sense of purpose and helps them become resilient in the face of personal and social adversity. Avoiding responsibility, like addiction, may feel good in the short term, but it will only make things worse in the long run.
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One of Lex Company's investment center has a residual income of P55000 at a required return of 15%. An investment opportunity equal to 15% of the current value of assets would increase the residual income to P85000. The ROI after the additional investment is 17%. Required:a. The amount of additional investmentb. Net income of the investment center before the additional investmentc. ROI of the investment center before the additional investmentd. The total assets of the investment center after the additional investment(Round off peso values to TWO Decimal places and the PERCENTAGE amount in four decimal places, include the "%" sign in your answer. input amounts like this: 100,000.00 for peso amounts, and 21.34% for percentage answers) - 21.34% is already four decimal places (0.2134 when converted to decimal)
a. The amount of additional investment is P200,000.00. b. Net income of the investment center before the additional investment is P55,000 + 0.15 × Investment. c. ROI of the investment center before the additional investment is (0.15 × Investment + P366,666.67) / Investment. d. The total assets of the investment center after the additional investment is P18,533,333.50.
a. The amount of additional investment is calculated as:
Additional investment = Increase in residual income / Required return
Residual income after additional investment = P85,000
Residual income before additional investment = P55,000
Increase in residual income = P85,000 - P55,000 = P30,000
Required return = 15% = 0.15
Additional investment = P30,000 / 0.15 = P200,000.00
b. Net income of the investment center before the additional investment is calculated as:
Net income = Residual income + (Required return × Investment)
Residual income before additional investment = P55,000
Required return = 15% = 0.15
Net income = P55,000 + (0.15 × Investment)
Net income = P55,000 + 0.15 × Investment
c. ROI of the investment center before the additional investment is calculated:
ROI = Net income / Investment = (P55,000 + 0.15 × Investment) / Investment
ROI = 0.15 + (P55,000 / Investment)
ROI = 0.15 + (P55,000 / (Net income - P55,000) / 0.15)
ROI = 0.15 + (P55,000 / ((ROI × Investment) - P55,000) / 0.15)
ROI = 0.15 + (P55,000 / ((0.15 + (P55,000 / Investment)) × Investment - P55,000) / 0.15)
ROI = 0.15 + (P55,000 / (0.15 × Investment + P55,000 - P55,000) / 0.15)
ROI = 0.15 + (P55,000 / (0.15 × Investment) / 0.15)
ROI = 0.15 + (P55,000 / 0.15) / Investment
ROI = 0.15 + P366,666.67 / Investment
ROI = (0.15 × Investment + P366,666.67) / Investment
ROI = 0.15 + P366,666.67 / Investment
ROI = (0.15 × Investment + P366,666.67) / Investment
Investment = (0.15 × Investment + P366,666.67) / ROI
Investment × ROI = 0.15 × Investment + P366,666.67
Investment × ROI - 0.15 × Investment = P366,666.67
Investment × (ROI - 0.15) = P366,666.67
Investment = P366,666.67 / (ROI - 0.15)
d. The total assets of the investment center after the additional investment:
Total assets after additional investment = Investment + Additional investment = Investment + P200,000.00
Total assets after additional investment = P366,666.67 / (ROI - 0.15) + P200,000.00
Total assets after additional investment = P366,666.67 / (0.17 - 0.15) + P200,000.00
Total assets after additional investment = P366,666.67 / 0.02 + P200,000.00
Total assets after additional investment = P18,333,333.50 + P200,000.00
Total assets after additional investment = P18,533,333.50
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Sheet1 Sheet2 January February March Sales Purchases 160,000 30,000 40,000 40,000 60,000 60,000 Payments 40,000 Receipts 10% A/R Current Month and take discount 70% A/R (next month) 20% A/R (2nd following month) Payments: Purchases Salaries Rent Total payments Net gain/loss Cash at start of month Cumulative cash balance Target cash balance Cumulative surplus/loan needed Cash Budget Exercise Jones Stationery has estimated the Sales Forecast as follows: January $160,000 February $ 40,000 March $ 60,000 Sales terms are: 1/10 net /30 Estimates regarding collections are: 10% will pay in the month of sale 70% will pay the month following the sale 20% will pay in the 2nd month following the sale Purchases are estimated to be and are paid the next month: January $ 30,000 February $ 40,000 March $ 60,000 Other expenses: Rent Salaries $2,000 each month $5,000 each month The Cash on Hand on Mar 1, 2015 is $1,000 A minimum cash balance of $6,000 is to be maintained. Required: 1. Prepare the Cash Budget for March. 2. What is the cash surplus or loan required?
The cash budget for March is: Cash receipts: $66,000, Cash payments: $67,000, Net gain/loss: -$1,000, Cash at start of month $1,000, Cumulative cash balance $0, Target cash balance $6,000, Cumulative surplus/loan needed -$6,000.
The cash budget for March can be prepared by following these steps.
Steps for Cash BudgetStep 1: Calculate the cash receipts for March. This includes the collections from sales in January, February, and March.
10% of March sales = 10% x $60,000 = $6,000
70% of February sales = 70% x $40,000 = $28,000
20% of January sales = 20% x $160,000 = $32,000
Total cash receipts for March = $6,000 + $28,000 + $32,000 = $66,000
Step 2: Calculate the cash payments for March. This includes the payments for purchases, salaries, and rent.
Purchases = $60,000 (paid in the next month)
Salaries = $5,000 (each month)
Rent = $2,000 (each month)
Total cash payments for March = $60,000 + $5,000 + $2,000 = $67,000
Step 3: Calculate the net gain or loss for March by subtracting the total cash payments from the total cash receipts.
Net gain/loss = $66,000 - $67,000 = -$1,000
Step 4: Calculate the cumulative cash balance by adding the net gain/loss to the cash at the start of the month.
Cumulative cash balance = $1,000 + -$1,000 = $0
Step 5: Calculate the cumulative surplus or loan needed by subtracting the target cash balance from the cumulative cash balance.
Cumulative surplus/loan needed = $0 - $6,000 = -$6,000
The cash budget for March is as follows:
| | March |
| --- | --- |
| Cash receipts | $66,000 |
| Cash payments | $67,000 |
| Net gain/loss | -$1,000 |
| Cash at start of month | $1,000 |
| Cumulative cash balance | $0 |
| Target cash balance | $6,000 |
| Cumulative surplus/loan needed | -$6,000 |
The cash surplus or loan required for March is -$6,000. This means that the company will need to borrow $6,000 to maintain the minimum cash balance of $6,000.
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At the beginning of the year, a firm has current assets of $329 and current liabilities of $233. At the end of the year, the current assets are $495 and the current liabilities are $273. What is the change in net working capital? Multiple Choice $206 $126 $166
The change in net working capital is $126.
The change in net working capital can be calculated by subtracting the initial net working capital from the final net working capital. Net working capital is the difference between current assets and current liabilities.
Initial net working capital = Current assets at the beginning of the year - Current liabilities at the beginning of the year
= $329 - $233
= $96
Final net working capital = Current assets at the end of the year - Current liabilities at the end of the year
= $495 - $273
= $222
Change in net working capital = Final net working capital - Initial net working capital
= $222 - $96
= $126
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You are thinking of investing in a zero coupon bond that has 13 years to maturity. If the annual yield on this bond is 4.7%, what should be the present value of this bond? Assume semi-annual compounding.
ans choice:
a. 1000
b. 735.49
c. 550.42
d. etc, etc.
You are thinking of investing in a zero coupon bond that has 13 years to maturity. If the annual yield on this bond is 4.7%, Assuming semi-annual compounding the present value of this bond should be 735.49
The correct answer is option B.
To find the present value of this bond, we can use the formula:
PV = FV / (1 + r/2)^(2*n)
Where:
- PV is the present value
- FV is the future value
- r is the annual yield
- n is the number of years to maturity
In this case, the future value is 1000 (since zero coupon bonds typically have a face value of 1000), the annual yield is 4.7%, and the number of years to maturity is 13.
Plugging these values into the formula, we get:
PV = 1000 / (1 + 0.047/2)^(2*13)
PV = 1000 / (1.0235)^(26)
PV = 1000 / 1.3608
PV = 735.49
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What will be the remedial approach for the following issues in a company, based on Lewin's three stages of change? Explain
- Employers or supervisors neglected to conduct a routine check on their employees' working conditions (mental sanity and not just focus on productivity)
-Employees do not feel noticed and respected
-there are no training opportunities or employee involvement for professional progress
-and the salary is low.
The Lewin's three stages of change suggests an approach of Unfreezing, Moving and Refreezing.
1. Unfreezing: Recognizing the need for change and making employees aware of the problem. This could involve conducting surveys and interviews to get feedback on how employees feel about the current working conditions.
2. Moving: Making necessary changes. This could involve providing training opportunities, creating programs to make employees feel more noticed and respected, and increasing salaries.
3. Refreezing: Making sure the changes have been successful by conducting routine checks on employees' mental sanity and taking other measures to ensure that employees are happy in their jobs.
This is the remedial approach for the issues mentioned in the question, based on Lewin's three stages of change.
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Please answer all questions and show all work for a positive review!Today is the start of Day 4 and John Smith is ready to start scheduling the following jobs. Jobs are assigned a letter of the alphabet, starting with the letter A, based on their arrival.JobProcessing Time (in days)Due Date (End of Day)A311B1015C220D410E516F814G719a) Sequence these jobs based on the following scheduling rules: Longest Processing Time (LPT) and Critical Ratio (CR) (time to due date/processing time). Use the definitions of these scheduling rules as we defined them on the homework assignments.b) Based on average flow time measured from today (start of Day 4), which of the sequencing rules is preferred?c) Based on the average lateness with no credit given for jobs completed early, which of the sequencing rules is preferred?d) Based on the average early time with zero days early if the job is completed late, which of the sequencing rules is preferred?
a) Longest Processing Time (LPT): According to this scheduling rule, the jobs with the longest processing times will be completed first. The order of these jobs will be G, F, E, D, C, B, and A.
Critical Ratio (CR): According to this scheduling rule, the jobs with the lowest Critical Ratio (time to due date/processing time) will be completed first. The order of these jobs will be B, A, D, E, F, C, and G.
b) The sequencing rule preferred based on average flow time measured from today (start of Day 4) is the Critical Ratio (CR) rule. This is because the Critical Ratio (CR) rule considers the ratio of the time left to the due date and the processing time of the job, allowing jobs to be completed in the most efficient manner.
c) The sequencing rule preferred based on the average lateness with no credit given for jobs completed early is the Longest Processing Time (LPT) rule.
This is because the LPT rule allows jobs with the longest processing times to be completed first, thus allowing the highest number of jobs to be completed on time.
d) The sequencing rule preferred based on the average early time with zero days early if the job is completed late is the Critical Ratio (CR) rule. This is because the Critical Ratio (CR) rule considers the ratio of the time left to the due date and the processing time of the job, allowing jobs to be completed in the most efficient manner.
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Let's Put Together Everything We've Learnt In Our Lesson On Petty Cash and Bank Reconciliation Use 1.5 Resource To Help You Complete The Various Tasks In This Activity! Mark Task 1: Complete the journal entries for the transactions posted here. The Journal template has been created for you and is posted below along with the transactions, along with a list of account names for you to use. Marks Breakdown Task 1 - Journal Transactions Done Correctly (2 Marks Each) Task 1.1 - Journal Transactions Done Correctly (2 Marks Each) out of /10 /4 114 Task Total Journal - Page 30 Date 20-- Accounts and Explanation PR Debit Credit Chart of Accounts 100 Cash 101 Petly Cash 102 Supplies 103 Accounts Receivable - A. Michaels 200 HST Payable 201 HST Recoverable . 400 Sales 401 Interest Earned a. 402 Sales Discount 500 Bank Service Charges 501 Delivery Expense 502 Postage Expense 503 Miscellaneous Expense Transactions Nov 7 Cash sales slips totalled $3295 plus $428.35 HST. Cash was deposited. Issued Sales Invoice 87-B to A. Michaels, terms 3/15, n/30, amount $2000, plus HST 8 Received bank credit memo for $215, interest earned by the company 9 Received bank debit memo for $25, plus $3.25 HST, for the annual charge for a safety deposit box. Total $28.25 15 Received cheque from A. Michaels, $2056.40 for Invoice 87-B, less $63.60 discount. Cheque was deposited. Task 1.1: Read through the following word problem and complete the TWO journal entries that are relevant to the accounts and information given. Renfrew Services established a petty cash fund by issuing a $150 cheque on Sept. 1. By October 15, petty cash vouchers had been prepared for the following petty cash payments. A replenishing cheque was issued. Office Supplies - $45.00 Postage Expense - $50.00 Miscellaneous Expense - $22.50 Delivery Expense - $24.75 Record the initial journal entry that established the fund, and then record the journal entry that was done later to replenish the fund. Raceway Motor Sports Co. Bank Reconciliation Statement July 31, 20- Task 2: Prepare a bank reconciliation statement for the Raceway Motor Sports Co. using the following information: The Cash account balance in the company ledger is $3651.40. A deposit of $565 was recorded in the company journal, but not the bank statement. Attached the bank statement is a debit memo for $85 for a customer's NSF cheque. Bank service charges of $11.40 are shown on the bank statement, Mark out of /1 /1 Marks Breakdown Task 2 - Correct Balance Inputted Task 2 - Deposit Put in Correct Spot Task 2 - Charges & Memos Correctly Inputted Task 2 - Final Cash Balance is correct Task 2 - All Numbers and Formatting Correct 12 11 12 17 Task Total Worksheet Total 121
Task 1:
Debit: $3295
Credit: $428.35
Task 2:
Bank Reconciliation Statement for Raceway Motor Sports Co.
Cash Balance per Company Ledger: $3651.40
Add: Deposit not recorded by bank: $565
Less: NSF cheque: $85
Less: Bank service charges: $11.40
Adjusted Cash Balance: $4120
Cash Balance per Bank Statement: $4120
Add: Deposit not recorded by bank: $565
Less: NSF cheque: $85
Less: Bank service charges: $11.40
Adjusted Cash Balance: $4588.60
Final Cash Balance: $4588.60
Task 1:
Journal Entry 1:
Date: Nov 7
Accounts and Explanation: Cash Sales
PR: 100
Debit: $3295
Credit: $428.35
Journal Entry 2:
Date: Nov 7
Accounts and Explanation: Sales Invoice 87-B to A. Michaels
PR: 103
Debit: $2000
Credit: $260
Journal Entry 3:
Date: Nov 8
Accounts and Explanation: Bank Credit Memo
PR: 401
Debit: $215
Credit: $0
Journal Entry 4:
Date: Nov 9
Accounts and Explanation: Bank Debit Memo
PR: 500
Debit: $25
Credit: $3.25
Journal Entry 5:
Date: Nov 15
Accounts and Explanation: Cheque from A. Michaels
PR: 100
Debit: $2056.40
Credit: $63.60
Task 1.1:
Journal Entry 1:
Date: Sept 1
Accounts and Explanation: Petty Cash Fund
PR: 101
Debit: $150
Credit: $0
Journal Entry 2:
Date: Oct 15
Accounts and Explanation: Petty Cash Replenishment
PR: 102
Debit: $45
Credit: $50
PR: 502
Debit: $50
Credit: $22.50
PR: 501
Debit: $22.50
Credit: $24.75
Task 2:
Bank Reconciliation Statement for Raceway Motor Sports Co.
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A callable bond pays a 7.70% fixed coupon rate. Similar bonds are currently yielding 6.75%. The firm calls the bonds. What is the total loss of coupon interest over 4 years if you owned 25 callable bonds and you reinvested the proceeds at the current yield?
Round to the nearest whole dollar.
The total loss of coupon interest over 4 years is $950. Round to the nearest whole dollar, the total loss of coupon interest is $950.
To calculate the total loss of coupon interest, we need to compare the amount of interest earned on the callable bonds before they were called to the amount of interest earned on the reinvested proceeds at the current yield.
First, let's calculate the annual interest earned on the callable bonds before they were called:
- Annual interest per bond = $1,000 x 7.70% = $77
- Annual interest for 25 bonds = $77 x 25 = $1,925
Next, let's calculate the annual interest earned on the reinvested proceeds at the current yield:
- Annual interest per bond = $1,000 x 6.75% = $67.50
- Annual interest for 25 bonds = $67.50 x 25 = $1,687.50
Now, we can calculate the total loss of coupon interest over 4 years:
- Total loss of coupon interest = (Annual interest before callable bonds were called - Annual interest after reinvestment) x 4 years
- Total loss of coupon interest = ($1,925 - $1,687.50) x 4
- Total loss of coupon interest = $237.50 x 4
- Total loss of coupon interest = $950
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DIVIDEND VALUATION MODEL (2) The Advantage Food Corporation paid a dividend of $1.36 last year and its stock is currently selling for $33.60 per share. The company is expected to grow at 7.5% indefinitely. (a) Estimate the firm's cost of retained earnings. ((b) if the firm has to raise capital beyond what was available from retained earnings, what would be its cost of equity from new stock if flotation costs were 12% of money raised?
The cost of retained earnings is 0.103 and the cost of equity from new stock is 0.223.
DIVIDEND VALUATION MODEL (2): To answer the question, we need to calculate the firm's cost of retained earnings and the cost of equity from new stock.
The cost of retained earnings can be estimated by the formula: Retained Earnings Cost = (D1/P0) / (1 + g).
In this case, D1 is the dividend of $1.36, P0 is the current stock price of $33.60 and g is the expected growth rate of 7.5%. Therefore, the cost of retained earnings is 0.103.
The cost of equity from new stock can be estimated by the formula: New Stock Cost = (Retained Earnings Cost) + (Flotation Costs).
In this case, the retained earnings cost is 0.103 and the flotation costs are 12% of the money raised.
Therefore, the cost of equity from new stock is 0.223.
In conclusion, the cost of retained earnings is 0.103 and the cost of equity from new stock is 0.223.
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Definition: Biproduct - something that is produced because of making something else. “Profits are a biproduct of successfully solving a problem’’ what does this mean ?
The statement "profits are a byproduct of successfully solving a problem" means that when a company or individual solves a problem, it can result in generating profits as a secondary outcome.
How to define byproduct ?Profits are not the primary objective but rather a natural consequence of creating value and solving problems for others.
For example, if a company creates a product that solves a problem for its customers, such as a more efficient way of doing something, then customers may be willing to pay for that product, and the company can make a profit as a byproduct of solving the problem. In this sense, the profit is not the ultimate goal but rather a reward for creating value and solving a problem for others.
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GHG emissions are is a key growth area for assurance services but it is not without its challenges.
Required
Conduct an internet search for an Australian company whose website includes any type of GHG emissions disclosure and then use the following prompting questions to complete a reflection in the Interact2 Journal, accessed on the left-hand menu of your subject site:
What? Describe the nature of the GHG emissions disclosure for your selected Australian company. For example, was it informative and/or clear? Difficult or easy to find?
So what? If you were a member of an assurance team engaged to provide assurance on this engagement, what type of misstatements and assertions would you be most concerned about? Why?
Now what? How might you design audit procedures to collect sufficient and appropriate audit evidence relating to the audit assertions you identified above? What specialist assistance might be required on the audit team to undertake these procedures?
GHG emissions disclosures vary from company to company. The GHG emissions disclosure for the selected Australian company may be informative and/or clear, difficult or easy to find.
If you were a member of an assurance team engaged to provide assurance on this engagement, you would be most concerned about misstatements and assertions related to the company's GHG emissions levels.
This is because they are significant factors that influence the environment, and accurate information must be provided.
To collect sufficient and appropriate audit evidence relating to the audit assertions, you could design audit procedures such as inquiring with management, reviewing documentation, and performing analytical procedures.
Depending on the complexity of the company's GHG emissions, the audit team may require specialist assistance to ensure accurate results.
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how can marketing of flowers and other related products be done by a commercial farm
As a commercial flower farm, marketing includes selling directly to the public or to florists, grocery stores and other retail businesses. Adding value to flowers through attractive arranging can help you increase sales.
What is marketing?Marketing is the process of discovering, creating, and delivering value to a target market in terms of goods and services, as well as the selection of a target audience.
As the Internet is a less expensive platform for advertising flowers, online marketing can be used. It allows clients to view and order flowers from the comfort of their own homes, breaking down geographical barriers. Invest in search engine optimization or start a flower blog to attract visitors to your website.
Pack flower samples and deliver them to local florists and grocery stores. A promotion also helps to strengthen our market image by reminding existing customers of our products and informing potential customers about our flowers.
Therefore, online marketing, package samples and promotion are some of ways to used for marketing flowers and other related products.
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A resident citizen, has the following data for the year2020:DescriptionFrom PhilippinesFrom UkraineGross sales5,000,0003,000,000Sales returns and allowances500,000200,000Cost of saHow much is the total final tax on passive income?Using the information in the previous question, how much is the capital gains tax due?
The total final tax on passive income is 2,380,000.
The total final tax on passive income is based on the gross sales and sales returns and allowances of the resident citizen. For the Philippines, the total final tax on passive income would be 5,000,000 - 500,000 = 4,500,000 x 15% = 675,000. For Ukraine, the total final tax on passive income would be 3,000,000 - 200,000 = 2,800,000 x 15% = 420,000.
The capital gains tax due would be the difference between the cost of sales and the total final tax on passive income. For the Philippines, the capital gains tax due would be 4,500,000 - 675,000 = 3,825,000. For Ukraine, the capital gains tax due would be 2,800,000 - 420,000 = 2,380,000.
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