Answer:
Hierarchical organizational structure
Explanation:
Hierarchical organizational structure is the type of organization structure where the level of management are divided according to function and services they are performing.
though, the level of management is divided into top level management (the planning executives: boards of member, executives, shareholders), middle (determined how the plan and organization goal will be implemented: managers) and lower level (implement the plan: the supervisor, foreman or shift manager), then will have the workers.
this management system involves decision and authority being transfer from level to level.
in the case: Asa is in the worker level, while her shift manager is in the lower level and general manager is in the middle level.
The Samsons are trying to determine whether they can claim their 22-year-old adopted son, Jason, as a dependent. Jason is currently a full-time student at an out-of-state university. Jason lived in his parents’ home for three months of the year and he was away at school for the rest of the year. He received $9,500 in scholarships this year for his outstanding academic performance and earned $4,800 of income working a part-time job during the year. The Samsons paid a total of $5,000 to support Jason while he was away at college. Jason used the scholarship, the earnings from the part-time job, and the money from the Samsons as his only sources of support.
a. Can the Samsons claim Jason as their dependent?
Yes
No
b.Assume the original facts except that Jason’s grandparents, not the Samsons, provided him with the $5,000 worth of support. Can the Samsons (Jason’s parents) claim Jason as their dependent?
Yes
No
c. Assume the original facts except substitute Jason’s grandparents for his parents. Determine whether Jason’s grandparents can claim Jason as a dependent.
Yes
No
d. Assume the original facts except that Jason earned $5,500 while working part-time and used this amount for his support. Can the Samsons claim Jason as their dependent?
Yes
No
Scarborough Faire Herb Farm is a small company specializing in selling organic fresh herbs, teas, and herbal crafts. Currently, basil is their top selling herb, with $41,000 in sales last year. Parsley is their second biggest seller with $30,000 in sales. Total sales last year were $160,000 and Scarborough Faire forecasts sales to increase by 13% this year. If total sales increases by the percentage forecasted, what will total sales be this year
Answer:
Sales This year will be $180,800
Explanation:
Total Sales Last Year = $160,000
Growth rate of sales = 13%
Sales This year = Total Sales last year x (1+Growth rate)
Sales This year = $160,000 x (1+13%)
Sales This year = $160,000 x (1+0.13)
Sales This year = $160,000 x 1.13
Sales This year = $180,800
To find the forecasted increase in sales for the Scarborough Faire Herb Farm, we multiply the current sales of $160,000 by 1.13 (which represents the 13% increase). This results in an expected total sales of $180,800 for this year.
Explanation:In this problem, the forecasted increase in sales for Scarborough Faire Herb Farm needs to be calculated. They currently have total sales of $160,000, which are forecasted to increase by 13% this year. To find out the total sales for this year, we will multiply the current total sales ($160,000) by 1.13 (1 represents the current sales and 0.13 represents the 13% increase). This gives us: $160,000 * 1.13 = $180,800. Therefore, if sales increase by the forecasted percentage, total sales for the Scarborough Faire Herb Farm this year will be $180,800.
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If estimated annual factory overhead is $546,000; overhead is applied using direct labor hours; estimated annual direct labor hours are 210,000; actual March factory overhead is $48,100; and actual March direct labor hours are 18,000; then overhead is:
a.$300 underapplied
b.$300 overapplied
c.$1,300 underapplied
d.$900 overapplied
e.$900 underapplied
Answer:
correct option is c.$1,300 under applied
Explanation:
given data
annual factory overhead = $546,000
annual direct labor hours = 210,000
March factory overhead = $48,100
March direct labor hours = 18,000
solution
we get here Predetermined overhead rate that is express as
Predetermined overhead rate = Estimated overhead ÷ Estimated labor hours ......................1
put here value
Predetermined overhead rate = [tex]\frac{546000}{210000}[/tex]
Predetermined overhead rate = $2.6 per labor hour
and
overhead applied is
overhead applied = Actual labor hours in march × Predetermined overhead rate ................2
overhead applied = 18000 × $2.6
overhead applied = $46,800
so we get Under or over applied overhead as
Under or over applied overhead = actual overhead - applied overhead ................3
put here value we get
Under or over applied overhead = $48100 - $46800
overhead = $1,300 under applied
so correct option is c.$1,300 under applied
A company recently announced that it would be going public. The usual suspects, Morgan Stanley, JPMorgan Chase, and Goldman Sachs will be the lead underwriters. The value of the company has been estimated to range from a low of $5billion to a high of $100billion, with $45billion being the most likely value. If there is a 20% chance that the price will be at the low end, a 10% chance that the price will be at the high end, and a 70% chance that the price will be in the middle, what value should the owner expect the company to price at?a. 66.0.
b. 49.5.
c. 48.0.
d. 38.5.
Answer:
42.5
Explanation:
The computation of the expected value is shown below:
= Low price range × chance percentage + high price range × chance percentage + most likely price range × chance percentage
= $5 billion × 20% + $100 billion × 10% + $45 billion × 70%
= $1 + $10 + $31.5
= 42.5
Basically we multiplied each one with its chance percentage
The Aggregate Supply curve shows Group of answer choices a. the total quantity of output that firms will produce at a given price level. b. the potential output of an economy at a given price level. c. the downward sloping relationship between price level and output for suppliers.
Answer:
The correct answer is letter "A": the total quantity of output that firms will produce at a given price level.
Explanation:
Aggregate Supply is the total supply of goods and services an economy produces in a given period. It is the amount of goods companies plan to sell at given price levels. Essentially, aggregate supply is the relationship between price levels and the number of goods and services an economy produces.
lpine Company solicited bids from several contractors to construct an addition to its office building. The lowest bid received was for $1,200,000. Alpine decided to construct the addition itself at a cost of $1,100,000. What amount should be recorded in the building account?
Answer:
The amount recorded in the building account will be $1,100,000.
Explanation:
Alpine company has asked for bids from various contractor to construct additions in its office building. many contractors replied with a bid offer among which the lowest was $1,200,000. Alpine decided to construct additions itself at a lower cost than the bid received. The amount which is recorded in office building account will be $1,100,000 at which the company has agreed to construct. The accounts of a company should reflect actual expenditures so the amount of $1,100,000 will be actual expenditure of construction which Alpine Company has determined.
The amount that should be recorded in the building account is $1,100,000.
Building is a fixed asset which are use for business operation by companies or organizations so as to earn or generate profit for their business.
Based on the information given we were told that the company construct the building at a cost of $1,100,000.
Which means that the building cost of the amount of $1,100,000 should be recorded in the building account as this is the actual amount that was spent to construct an addition to the building.
Inconclusion the amount that should be recorded in the building account is $1,100,000.
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Compound growth in an economy can increase people’s standard of living for country Z. If the economy for country Z starts with a GDP of 150 and a growth rate of 2% per year, what will its GDP be after 15 years?
Answer:
The GDP after 15 years=202
Explanation:
The GDP also known as the Gross Domestic Product is the quantity of goods and services produced in a country during a certain period in time usually expressed in monetary terms. GDP usually illustrates how much the country's economy is growing and expanding.
To determine the GDP after 15 years, we can have the expression below;
F=P(1+r/n)^nt
where;
F=future GDP
P=initial GDP
r=growth rate per year
n=number of times the growth rate is applied per year
t=number of years
In our case;
F=unknown, to be determined
P=150
r=2%=2/100=0.02
n=1
t=15 years
Substituting;
F=150(1+0.02)^(15×1)
F=150(1.02)^15
F=201.88=202
The GDP after 15 years=202
While building the ancient pyramids, the Egyptians performed several management functions. They submitted written requests and consulted staff for advice before making decisions.
The Egyptians performed which of the following functions of management? Check all that apply.
a. Organizing
b. Planning
c. Controlling
d. Leading
Answer:
a, b and c i.e Organizing, Planning and Controlling
Explanation:
Note: Since more than one option is to be selected, the three terms have been provided as an answer
Organizing is the management function concerned with creation of organizational hierarchy, defining roles and objectives and authority and reporting responsibilities.
Planning refers to providing for unforeseen future events and deciding the ways to deal with them.
Directing refers to the management function of guiding, supervising and leading people with an objective to meet organizational goals and extract efficient performance.
In the given case, written request signifies planning, creation of a staff and consulting before arriving at decisions refers to organizing and controlling function.
The Egyptians performed planning, organizing, and leading functions of management while constructing the pyramids. They planned their actions, organized resources, and led their teams. However, it's unclear if they performed the controlling function.
Explanation:While constructing the ancient pyramids, the Egyptians performed certain key functions of management, including organizing, planning, and leading. Submitting written requests and seeking advice involves the process of planning, where they outline a roadmap for the completion of the objectives. Meanwhile, organizing is reflected in the structuring and coordination of the resources and activities. Lastly, leading is manifested in their manner of directing and engaging with their personnel. However, the function of controlling, which requires monitoring performance against a plan and making adjustments, is not clearly reported in the scenario given.
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General Mills conducted focus groups to collect and interpret data to gain insights into customer preferences and loyalty. Which best describes the process General Mills has used?
A. Determining the research design
B. Reporting research findings to managers
C. Customer insights
D. Analyzing and interpreting the data
E. Defining the research problem
Answer:
The correct answer is (C)
Explanation:
It is very important to understand what consumers want and what they expect from a brand. In order to understand costumer’s preferences and loyalty, various techniques are used from questionnaires to interview. General mills conducted focus groups and estimated the results to better understand customer’s insight by asking various questions related to preferences, taste and expectations.
A customer buys 1,000 shares of ABCD $25 par 8% cumulative preferred stock. This preferred issue pays quarterly dividends. This year, it missed the first 3 quarterly dividends. In the 4th quarter, it paid a common dividend of $.25 per share. In order to do this, it must have paid this preferred shareholder: A $400 B $500 C $1,600 D $2,000
Answer:
D $2,000
Explanation:
Valueof Preffered stock = 1000 x 25 = $25,000
Quartely dividend = 25000 x 8% x 3/12 = $500
Dividend of four quarters = $500 x 4 = $2,000
First three quarters has been missed so the preferred dividend of $2,000must be paid first from the declared dividend of 0.25 per share.
So, the correct option is D $2,000.
The amount of preferred dividend paid to shareholders for the missing periods is $2,000.
The dividend for the preference shareholders is the necessarily to be paid at the need of each period. It is the amount paid in return of the investment in the shares of the company.
Calculation:
Given,
Dividend rate =8%
Value of preferred shares =1,000 shares of $25 each, that is $25,000
Rate of dividend paid in 4th quarter =$0.25per share
First the quarterly dividend is computed for the preferred shares:
[tex]\begin{aligned}\text{Quarterly Dividend}&=\text{Value of Preferred Shares}\times\text{Dividend Rate}\times\text{Missed Payments}\\&=\$25,000\times8\%\times\frac{3}{12}\\&=\$500\end{aligned}[/tex]
Now, the total amount of dividend missed for the payment is:
[tex]\begin{aligned}\text{Dividend of Four Quarters}&=\text{Quarterly Dividend}\times4\\&=\$500\times4\\&=\$2,000\end{aligned}[/tex]
Thus, the amount paid to preferred shareholders is $2,000, so option D.is correct.
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f interest rate parity (IRP) exists, then triangular arbitrage will not be possible. A. true. B. false.
Answer:
A. True
Explanation:
Arbitrage refers to a situation wherein a gain is made owing to price discrepancy or unevenness in two markets. The rule for arbitrage is to buy from the markets where price is less and sell in the markets where price is higher.
Triangular arbitrage occurs wherein 3 different currencies are involved and the exchange rates are not uniform i.e a discrepancy exists and interest rate parity does not hold true.
Interest rate parity refers to the concept wherein the disparity between two currency exchange rates is adjusted by the respective interest rates of the two countries. When interest rate parity exists, no arbitrage is possible as markets are fairly priced.
Shen has plans to go to an opera and already has a $100 nonrefundable, nonexchangeable, and nontransferable ticket. Now Valerie, whom Shen has wanted to date for a long time, asks him to a party. Shen would prefer to go to the party with Valerie and forgo the opera, but he doesn't want to waste the $100 he spent on the opera ticket. From the perspective of an economist, if Van decides to go to the party with Amy, what has he just done?
1. Incorrectly allowed a sunk cost to influence his decision
2. Made a choice that was not optimal
3 Correctly ignored a sunk cost
Answer:
3. Correctly ignored a sunk cost
Explanation:
Sunk costs refer to those costs which have been incurred in the past, which are non recoverable and which have no current or future benefits.
Sunk costs are considered as irrelevant for decision making process as they do not relate to current period and have no future implications. For example, research and development expenditure incurred in the past represents a sunk cost.
In the given case, the ticket for opera was already purchased for $100 which can now neither be recovered nor transferred. Thus this cost is irrelevant for decision making as expenditure has already been made. When Shen decided to go for a party instead of the concert, Shen has correctly ignored a sunk cost.
Final answer:
Shen has correctly ignored a sunk cost by deciding to go to the party with Valerie instead of the opera for which he already has a nonrefundable ticket. His decision should be based on the opportunity costs and marginal benefits, not on the already spent money.
Explanation:
From an economist's perspective, if Shen decides to go to the party with Valerie, he has correctly ignored a sunk cost. The $100 he spent on the opera ticket is a sunk cost because it is nonrefundable, nonexchangeable, and nontransferable, meaning that this money is irretrievably gone regardless of what he chooses to do. Therefore, his decision to attend the party should be based on comparing the opportunity costs and the marginal benefits of attending either event, not on the sunk cost of the opera ticket.
As seen in the example of Selena, who debates whether to leave a terrible movie for which she has already paid, the sunk cost of the ticket price should not factor into her decision to stay or leave. The time she would spend watching the rest of the movie would be better spent doing something enjoyable, and that provides her with greater marginal benefits. The money is already spent, so she should focus on the benefits of current and future options and the opportunity costs of continuing to watch the movie.
Similarly, opportunity cost is a crucial concept that refers to the benefits sacrificed when one alternative is chosen over another. When Shen chooses to go to the party, he is essentially weighing the potential enjoyment and benefits of the date over attending the opera, not the monetary value that has already been expended on the opera ticket.
Taxpayers who recover all or part of an item that they deducted or took a credit for in a prior year must report the same amount as __________. a. Taxable income. b. A refundable credit. c. A negative deduction. d. A negative credit
Answer:
The correct answer is letter "A": Taxable income.
Explanation:
In case a taxpayer receives a tax refund for the tax return of the previous period, next year, that tax refund will be considered a taxable income for the current period. For instance, if in 2020 a taxpayer receives a tax refund of $1,000 for the tax return of 2019, that amount will be considered a taxable income for 2020.
Larry is willing to invest a significant amount of money in the business and wants to work with you on a day-to-day basis in the operations of the business. If you choose to go into business with him, which form of non-corporate business ownership would be best suited for the business?
Answer:
The correct answer is: General partnership.
Explanation:
A General partnership is an organization where two or more owners operate the business. General partners usually share management duties profits and losses equally regardless of their partnership interest percentage. However, each partner ultimately has unlimited liability.
Answer:
General partnership.
Explanation:
I got this one right and all of the other questions so
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When the price of good X increases and all goods (including X) are normal goods, the income effect leads consumers to buy A. more of all goods. B. more of good X and less of other goods. C. less of all goods. D. less of good X and more of other goods.
Answer:
C. less of all goods
Explanation:
The increase in price of good x causes the consumer to buy less of all goods. This is because all goods are normal goods.
Normal goods are goods whose demand increases when income increases and falls when income falls.
The increase in price of good x leads to fall in the real income of the consumer so the demand for other goods ought to fall.
I hope my answer helps you
Some companies today are using social media to learn more about the other companies in their industry. _______such as this creates an ethical dilemma because our laws and values surrounding intelligence gathering are not clear cut.
Competitive intelligence creates an ethical dilemma because our laws and values surrounding intelligence gathering are not clear-cut.
What is competitive intelligence?Competitive intelligence also referred as corporate intelligence. It refers to the quality to collect, examine, and use information stored on competitors, customers, and other market causes that contribute to a competitive advantage of the business.
It refers to the systematic collection and analysis of information from multiple sources, and a coordinated CI program.
Competitive intelligence is the act of realising a company's industry and its rivals.
Netflix is a big example of executing the right bbased on competitor intelligence.
Therefore, Competitive intelligence creates an ethical dilemma.
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Final answer:
The ethical implications of using social media for intelligence gathering in business are discussed, focusing on privacy, free speech, and the responsibility of social media companies.
Explanation:
Social media is the subject of the question, and the ethical implications of using it for intelligence gathering in the business world are being discussed.
This raises concerns about privacy protections, free speech, and the responsibility of social media companies in monitoring and controlling information shared on their platforms.
As technology advances, the influence of social media on politics, elections, and public policy becomes a key point of debate among policymakers and citizens.
Your buddy in mechanical engineering has invented a money machine. The main drawback of the machine is that it is slow. It takes one year to manufacture $100. However, once built, the machine will last forever and will require no maintenance. The machine can be built immediately, but it will cost $1,000 to build. Your buddy wants to know if he should invest the money to construct it. If the interest rate is 9.5% per year. a. What should your buddy do? b. What is your advice if the machine takes one year to build?
Answer:
Explanation:
a ) We shall calculate the NPV of the project . If it is positive , then money can be invested
Cash outflow in the beginning =1000
Present value of perpetual annuity of 100 at 9.5 %
100 / .095
= 1052.63
which is more than initial cash outflow
So NPV is positive
Hence money can be invested.
b )
If machine takes one year to build , first year cash outflow of 100 will be absent
Present value of 100 after 1 year
= 100 / 1.095
= 91.32
So present value of annuity
= 1052.63 - 91.32
= 961.31
This is less than 1000 so
NPV is negative.
Hence money can not be invested.
What is the overall change in cash resulting from: $300 increase in inventories, $150 increase in accounts payable, $120 decrease in accounts receivable, $60 decrease in other current assets, $150 decrease in other current liabilities?
(A) -$120
(B) -$240
(C) $180
(D) $120
Answer:
(A). - $ 120
Explanation:
The changes to cash are from the following rules
Increase in assets and decrease in liabilities is a decrease in cash
Decrease in assets and increase in liabilities is and increase in cash
Using the data in the question,
Cash Movement
increase in inventories $ 300 ( $ 300)
Increase in accounts payable $ 150 $ 150
Decrease in accounts receivable $ 120 $ 120
Decrease in other current assets $ 60 $ 60
Decrease in other current liabilities $ 150 ($ 150)
Net movement in Cash $ (120)
In your opinion, what are the core capabilities of Harley-Davidson Motor Company motorcycles? How do these capabilities help Harley-Davidson compete against foreign competitors such as Yamaha and Suzuki?
Answer:
The Core Capabillities of Harley davison are their devotion to the moter cycle industry and that they are more of an american platforme. When most americans buy something they would perfer is be made right here in the U.S.
Explanation:
Harley-Davidson's core capabilities include brand name reputation, portfolio management skills, and human resource competencies, providing a differentiation advantage and loyal customer base that are difficult for foreign competitors to match.
The core capabilities of Harley-Davidson Motor Company motorcycles include their brand name reputation, distinctive design and deep-rooted American heritage. These capabilities resonate with a specific segment of consumers, creating a high value for customers. They are difficult for competitors to imitate due to the cultural history and lifestyle association that is built into the Harley-Davidson brand.
Additionally, portfolio management skills and human resource competencies enable Harley-Davidson to innovate and maintain a specialized workforce, furthering its competitive edge. Compared to foreign competitors, such as Yamaha and Suzuki, which may excel in affordability and technological advancements, Harley-Davidson's strong customer loyalty and brand community give it leverage across markets and contribute to its differentiation advantage. This brand loyalty is also evident in the statistical finding that Harley-Davidson motorcycles represent 14 percent of all motorcycles sold, yet only 8 percent of stolen motorcycles are Harleys, indicating less theft relative to their market share.
Harley-Davidson's core capabilities provide a differentiation advantage, allowing the company to compete successfully by focusing not just on the product, but on the lifestyle and experience that comes with owning a Harley-Davidson motorcycle. This strategy is different from the competition that may focus primarily on product features or cost efficiency.
The overminustheminuscounter (OTC) market is a A. centrally located auction market. B. geographically dispersed auction market. C. telecommunications network connecting dealers. D. market solely for institutional traders.
Answer:
telecommunications network connecting dealers.
Explanation:
Over the counter market or OTC market is referred to that market in which members trade the currencies, stock among the parties without the broker. In this, trade has done electronically without meeting personally i.e. Dealer and broker connect via mobiles phones
This market is held through a network of dealers instead of a central broker. One example of over the counter market is the London stock exchange.
Answer:
The correct answer is letter "C": telecommunications network connecting dealers.
Explanation:
The Over-The-Counter Market (OTC) is a decentralized market in which unlisted securities trade. The OTC market is not a physical location. Prices are negotiated and trades are made from computer networks, phones, and e-mails. Dealers act as maker makers and quote prices at which they will buy and sell.
A stockbroker has kept a daily record of the value of a particular stock over the years and finds that prices of the stock form a normal distribution with a mean of $8.52 with a standard deviation of $2.38. The percentile rank of a price of $13.87 is
Answer:
[tex]P(X<13.87) = P(Z<2.25) =0.9877[/tex]
So then we can conclude that the value of $13.87 would be approximately the 98th percentile
Explanation:
Previous concepts
Normal distribution, is a "probability distribution that is symmetric about the mean, showing that data near the mean are more frequent in occurrence than data far from the mean".
The Z-score is "a numerical measurement used in statistics of a value's relationship to the mean (average) of a group of values, measured in terms of standard deviations from the mean".
Solution to the problem
Let X the random variable that represent the prices of the stock of a population, and for this case we know the distribution for X is given by:
[tex]X \sim N(8.52,2.38)[/tex]
Where [tex]\mu=8.52[/tex] and [tex]\sigma=2.38[/tex]
If we want to find the percentile for 13.87. We are interested on this probability
[tex]P(X<13.87)[/tex]
And the best way to solve this problem is using the normal standard distribution and the z score given by:
[tex]z=\frac{x-\mu}{\sigma}[/tex]
If we apply this formula to our probability we got this:[tex]P(X<13.87)=P(\frac{X-\mu}{\sigma}<\frac{13.87-\mu}{\sigma})=P(Z<\frac{13.87-8.52}{2.38})=P(z<2.25)[/tex]And we can find this probability using the normal standard table or excel and we got:
[tex] P(X<13.87) = P(Z<2.25) =0.9877[/tex]
So then we can conclude that the value of $13.87 would be approximately the 98th percentile
An interior solution to a consumer's utility maximization problem implies A. consuming a positive amount of one good and a negative amount of the other good. B. consuming negative amounts of all goods. C. consuming more than an optimal amount of at least one good. D. consuming less than optimal amounts of all goods.
Answer:
NOT AVAILABLE
But an interior solution to a consumer's utility maximization problem implies CONSUMING A POSITIVE AMOUNT OF ALL GOODS.
development is a joint approach among those who seek economic growth with "wise resource management, equitable distribution of benefits and reduction of negative effects on people and the environment from the process of economic growth."A. Parallel B. Global C. Sustainable D Unrestricted E. Holistic
Sustainable development is a joint approach among those who seek economic growth with "wise resource management, equitable distribution of benefits and reduction of negative effects on people and the environment from the process of economic growth".
Answer: Option C
Explanation:
An ideological movement for achieving the goals of human progress while at the same time maintaining the capacity of earth's natural to provide the natural resources and ecosystem services on which the economy and society rely is understood as "sustainable development".
One illustration of sustainable development is the use of recycled materials or renewable resources when constructing another is building a new community in a formerly unexplored area without damaging the habitat or harming the environment.
Royal Gorge Company uses the gross profit method to estimate ending inventory and cost of goods sold when preparing monthly financial statements required by its bank. Inventory on hand at the end of October was $58,500. The following information for the month of November was available from company records:
Purchases: $114000
Freight-in: $3900
Sales: $188000
Sales Returns: $5200
Purchase Returns: $4300
In addition, the controller is aware of $8600 of inventory that was stolen during November from one of the company's warehouses.
Required:
a. Calculate the estimated inventory at the end of November, assuming a gross profit ratio of 40%.
b. Calculate the estimated inventory at the end of November, assuming a markup on cost of 100%.
Answer:
Please refer the attachment to have the solution with explanation
According to rational expectations, stock prices are actually... a. the discounted value of all future cash flows associated with the stock b. an estimation of what other individuals' perceptions are of the stock c. the underlying company's profits less liabilities on a per share basis d. impossible to estimate
Answer:
a. the discounted value of all future cash flows associated with the stock.
Explanation:
Stock prices can be seen as an estimated future value of the security. When investors buy shares they look at the performance of the business and buy shares based on this future analysis.
Also the issuer values the shares based on their future forecast of financial performance. For example when a share is issued for $1,000,000 the business would have estimated performance will justify the share price in the future.
During the current year, the company had the following summarized activities: Purchased short-term investments for $10,000 cash. Lent $5,000 to a supplier, who signed a two-year note. Purchased equipment that cost $18,000; paid $5,000 cash and signed a one-year note for the balance. Hired a new president at the end of the year. The contract was for $85,000 per year plus options to purchase company stock at a set price based on company performance. The new president begins her position on January 1 of next year. Issued an additional 2,000 shares of $0.50 par value common stock for $11,000 cash. Borrowed $9,000 cash from a local bank, payable in three months. Purchased a patent (an intangible asset) for $3,000 cash. Built an addition to the factory for $24,000; paid $8,000 in cash and signed a three-year note for the balance. Returned defective equipment to the manufacturer, receiving a cash refund of $1,000.
Answer:
short-term investment 10,000 debit
cash 10,000 credit
note receivables 5,000 debit
cash 5,000 credit
equipment 18,000 debit
cash 5,000 credit
note payable 13,000 credit
cash 11,000 debit
common stock 1,000 credit
additional CS 10,000 credit
cash 9,000 debit
note payable 9,000 credit
Patents 3,000 credit
cash 3,000 debit
Building 24,000 debit
cash 8,000 credit
note payable 16,000 credit
cash 1,000 debit
equipment 1,000 credit
Explanation:
To record the entries we need to alwasy make debit = credit
we must use account names to represent each concept which are quite easy you don't have to overthink ou write what it is telling you it happen
Whe nthe company use cash use cash account
when it purchase equipment use equiptment
Classifying Costs as Materials, Labor, or Factory Overhead Indicate whether the following costs of Procter & Gamble (PG), a maker of consumer products, would be classified as direct materials cost, direct labor cost, or factory overhead cost: Cost Classification a. Depreciation on assembly line equipment in the Mehoopany, Pennsylvania, paper products plant b. Licensing payments for use of Disney characters on children products c. Maintenance supplies d. Packaging materials e. Paper used in bath tissue f. Plant manager salary for the Iowa City, Iowa, plant g. Resins for body wash products h. Salary of process engineers i. Scents and fragrances used in making soaps and detergents j. Wages of production line employees at the Pineville, Louisiana, soap and detergent plant
Answer:
Explanation:
The direct material cost is the cost which is incurred for the raw material
The direct labor cost is the cost which is incurred to pay the wages to assembly workers, the labor cost, etc
And, the factory overhead cost is the indirect cost which is required at the time of producing the product. Example - depreciation, repairs & maintenance, etc
So, the categorization is shown below:
a. Depreciation on assembly line equipment in the Mehoopany, Pennsylvania, paper products plant = factory overhead cost
b. Licensing payments for use of Disney characters on children products = factory overhead cost
c. Maintenance supplies = factory overhead cost
d. Packaging materials = direct material cost
e. Paper used in bath tissue = direct material cost
f. Plant manager salary for the Iowa City, Iowa, plant = factory overhead cost
g. Resins for body wash products = direct material cost
h. Salary of process engineers = factory overhead cost
i. Scents and fragrances used in making soaps and detergents = direct material cost
j. Wages of production line employees at the Pineville, Louisiana, soap and detergent plant = direct labor cost
The costs enlisted are classified as direct materials if they're raw materials used in production (paper, resins, scents), direct labor if they're wages paid to production line workers, and factory overhead if they're indirect costs related to production process (depreciation, licensing fee, maintenance supplies, wages of non-production staff).
Explanation:The costs described in the Procter & Gamble example can be classified as direct materials cost, direct labor cost, or factory overhead cost based on the roles they play in the manufacturing process.
Depreciation on assembly line equipment in the Pennsylvania plant - Factory Overhead Cost Licensing payments for use of Disney characters - Factory Overhead Cost Maintenance supplies - Factory Overhead Cost Packaging materials - Direct Materials Cost Paper used in bath tissue - Direct Materials Cost Plant manager salary in the Iowa City plant - Factory Overhead Cost Resins for body wash products - Direct Materials Cost Salary of process engineers - Factory Overhead Cost Scents and fragrances used in soaps and detergents - Direct Materials Cost Wages of production line employees - Direct Labor Cost Learn more about Cost Classification here:
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What is the present value of a $100 perpetuity if the interest rate is 10%? Round your answer to the nearest cent.
Answer:
The correct answer is $1,000
Explanation:
According to the scenario, Given data are as follows :
Cash flow = $100
Interest rate = 10%
So, present value can be calculated by following method:
Present value = Cash Flow / Interest Rate
Present value = $100 / 10%
Present value = $100 / 0.1
Present value = $1,000
Hence, the correct answer is $1000.
In a growing number of cities, stores are required either not to make available plastic or paper bags or to do so only for an additional fee. What kind of incentive is this fee?a. Neutral b. Direct c. Complementary d. Unintended e. Indirect
Answer:
The correct answer is letter "B": Direct.
Explanation:
Direct incentives are those that pursue making an immediate reaction in the audience to whom the incentive is directed. A direct incentive is usually applied when an urgent change must be made over a certain matter to avoid the exponential risks of not taking any action.
Thus, the fact that in most growing cities stores are not providing plastic bags is a direct incentive to stop polluting the environment.
The additional fee charged for plastic or paper bags in stores in some cities is a direct incentive, designed to encourage consumers to use reusable bags.
In this context, this fee can be classified as a
direct incentive
. Direct incentives are actions that can motivate individuals or businesses to alter their behavior in a particular way, usually to promote or discourage certain outcomes. In this case, the imposition of an additional fee for using plastic or paper bags is a direct incentive designed to reduce their usage and consequently, lessen the environmental impact of their disposal. This practice encourages customers to bring their own reusable bags to avoid the extra charge, hence, fostering environmentally beneficial behavior.
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Suppose you live in New York City and the government has imposed price ceilings on apartment rental rates. You want to rent an apartment from Smith, who says that unless you buy the furniture in the apartment for $4,000, he cannot rent the apartment to you. The condition of buying the furniture could be considered
a)a price ceiling.
b)a price floor.
c)a tie-in sale.
d)to be something no renter would agree to.
e)c and d
Answer:
The correct answer is letter "C": a tie-in sale.
Explanation:
A tie-in sale is one where the purchase or rent of an object is only possible if another is also bought. Companies tend to use this practice to offer goods and services in bundles where all the products being sold are not necessarily of interest to the buyer but generates more profit or the seller.
The condition that requires purchasing furniture to rent an apartment under a price ceiling in New York City is best described as a tie-in sale. Such practices enable landlords to circumvent rent control regulations and achieve higher effective rental rates.
Explanation:In the scenario described, the condition that you must buy the furniture in the apartment for $4,000 in order to rent the apartment can be considered a tie-in sale. A tie-in sale is a business practice where the seller conditions the sale of one product on the purchase of another product. Even under a price ceiling where the government has set a maximum legal price for renting apartments to prevent prices from rising too high, landlords may resort to practices like tie-in sales to extract more value from tenants, effectively bypassing the intent of the price ceiling regulation.
It's important to note that while this strategy allows the landlord to increase revenue, it doesn't necessarily reflect an actual increase in value or quality of services provided. Therefore, the renters might end up paying more without correspondingly higher quality housing, as landlords have fewer incentives to maintain or improve the property due to the constraints of rent control laws.