Sam has 40 apples and 5 bananas. His utility function can be calculated with the help of the concept of utility and consumer equilibrium. Utility function measures the utility that is derived from consuming goods and services.
Utility is a measure of satisfaction that one derives from consuming a particular good or service. The utility function of Sam's bundle can be calculated using the concept of utility.
A utility function describes how an individual values different bundles of goods. It is defined as a function of the quantities of different goods an individual consumes. Here, Sam's utility function is given as follows:
u (x, y) = ax
x = 40.
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Lizette's savings account had the following balances for the months of July, August, and September. How much is Lizette's average daily balance for the third quarter of 2019? Note that July has 31 days, August has 31 days, and September has 30 days. 286,244.44 286.652.17 296,500.00 285,739.13
To calculate Lizette's average daily balance for the third quarter of 2019, we need to find the total balance for each month and then divide it by the total number of days in the quarter.
For July, the balance is $286,244.44 for 31 days.
For August, the balance is $286,652.17 for 31 days.
For September, the balance is $296,500.00 for 30 days.
To find the average daily balance, we sum up the balances for all three months and divide it by the total number of days in the quarter. Total balance = $286,244.44 + $286,652.17 + $296,500.00 = $869,396.61.
Total number of days = 31 + 31 + 30 = 92 Average daily balance = Total balance / Total number of days
Average daily balance = $869,396.61 / 92 ≈ $9,459.93 .
Therefore, Lizette's average daily balance for the third quarter of 2019 is approximately $9,459.93.
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Lizette's average daily balance for the third quarter of 2019 is $9,461.26. To calculate Lizette's average daily balance for the third quarter of 2019, we need to find the sum of balances for July, August, and September, and then divide that sum by the total number of days in the quarter.
The balances for the months are given as 286,244.44, 286,652.17, and 296,500.00 respectively.
To calculate the average daily balance, we first need to find the total balance for the quarter.
Adding up the balances for the three months, we get:
286,244.44 + 286,652.17 + 296,500.00 = 869,396.61
Next, we need to find the total number of days in the quarter.
July has 31 days, August has 31 days, and September has 30 days, so the total number of days in the quarter is:
31 + 31 + 30 = 92
Finally, we divide the total balance for the quarter by the total number of days to find the average daily balance:
869,396.61 / 92 = 9,461.26
Therefore, Lizette's average daily balance for the third quarter of 2019 is $9,461.26.
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Other than time and interest, name at least three reasons why money
has value
In summary, money has value because it serves as a medium of exchange, a measure of value, and a standard of deferred payment.
Medium of exchange: Money is a common medium of exchange that is widely recognized and approved by the government as a method of payment. Money is an acceptable payment option for nearly all goods and services, making it a more efficient way to conduct transactions.
The measure of value: Money is a standard measure of value, allowing for the measurement of the relative value of products and services. This allows for the conversion of items into money units that may be compared. The value of each good or service is expressed in terms of money. The relative value of commodities is stated in terms of money.
Standard of deferred payment: Money serves as a standard of deferred payment, which means that it can be utilized to pay for things in the future. This enables individuals and organizations to conduct transactions over extended periods and to plan for the future with certainty. A medium of exchange that may be used at any moment in the future to purchase goods or services is provided by money. This standard payment feature distinguishes it from other forms of payment that might be utilized in place of money.
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Read the case study below and answer the questions that follow Managing Stakeholders at Medicare Health centre_ZA By Gina Abudi, on November 20th, 2018 Tshepiso Sebulele is leading a project to implement an online benefits management portal to enable employees to have a "one stop" location to view their health and dental benefits, get answers to benefits-related questions, and enable for changes to be made to health benefit coverage. The requirements of this project were gathered over a two-week period at the start of the project. The project is now near completion and the portal has been developed by the IT/Application Development group. It has been tested and will be rolled out early on in the following week. Tshepiso was approached by a member of the senior leadership team who suggests that it would be of value to add in a component so that employees can also manage their pension account. Tshepiso have had such an experience with this senior leadership team stakeholder in the past. Specifically, he has asked for additional scope for projects at the last minute and has been insistent about getting his requirements included, regardless of the cost. In nearly each situation, the project has not been successful and Tshepiso has had to answer to the fact that the project was not successful. https://www.ginaabudi.com/mini-case-study-managing-stakeholders-part-1/ Answer ALL the questions in this section. Question 1 (20 Marks) In the case study above, it is evident that Tshepiso and the member of the senior leadership who approached her have differences of opinions concerning the project. With regard to this, discuss in detail the Stakeholder Management Process and how Tshepiso can follow this process to manage the stakeholders of the projects she is working on.
Stakeholder management process includes the following five steps:i. Identify the Stakeholders ii. Analyze the Stakeholders iii. Plan the Stakeholder Management iv. Engage with the Stakeholders v. Monitor the Stakeholders
The first step in the stakeholder management process is to identify the stakeholders. ii. Analyze the Stakeholders: Once the stakeholders have been identified, the next step is to analyze them. iii. Plan the Stakeholder Management: After analyzing the stakeholders, the next step is to plan how to manage them. iv. Engage with the Stakeholders: Once the stakeholder management plan has been created, it is time to engage with the stakeholders. This involves communicating with them regularly, providing them with updates on the project, and addressing any concerns they may have.v. Monitor the Stakeholders: The final step in the stakeholder management process is to monitor the stakeholders.
This involves tracking their level of engagement, identifying any changes in their needs or expectations, and making any necessary adjustments to the stakeholder management plan.
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due to trends in globalization and increasing ethnic and gender diversity, it is imperative that employers learn how to manage cultural differences and individual work attitudes. what are the challenges and opportunities that diversity provides to companies? what are the responsibilities of human resources regarding diversity? can diversity be a strategic advantage to organizations? how does diversity impact companies and the workforce?
Embracing diversity in the workforce brings opportunities for innovation, improved problem-solving, and a competitive edge, while HR's responsibilities include creating inclusive environments and addressing biases.
In today's globalized world, organizations face challenges and opportunities due to increasing cultural diversity and differences in individual work attitudes. The diverse workforce brings varied perspectives, experiences, and skills, which can lead to innovation and improved problem-solving capabilities. However, managing diversity requires addressing challenges such as communication barriers, conflicts arising from different cultural norms, and biases or stereotypes that may exist among employees.
Human resources play a crucial role in promoting diversity and managing its impact. They are responsible for creating inclusive work environments where individuals from diverse backgrounds feel valued and respected. HR departments need to develop diversity initiatives, provide training on cultural sensitivity and unconscious bias, and establish policies that prevent discrimination and promote equal opportunities.
Diversity can be a strategic advantage to organizations. By embracing diversity, companies can tap into a wider talent pool, attract individuals with unique skills and perspectives, and enhance their ability to understand and serve diverse markets. Moreover, diverse teams are often more innovative and creative, as they bring diverse ideas and approaches to problem-solving.
The impact of diversity on companies and the workforce is significant. It fosters a positive work culture that promotes collaboration, learning, and personal growth. It can improve employee morale and job satisfaction, leading to higher retention rates and productivity. Additionally, diverse organizations are better positioned to understand and cater to the needs of diverse customer bases, which can result in increased competitiveness and market success.
Hence, embracing diversity and effectively managing cultural differences and individual work attitudes is crucial for organizations to thrive in today's globalized and diverse business environment. Human resources have a key role in promoting diversity and creating inclusive workplaces that leverage the benefits diversity brings.
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If the federal budget has an actual budget deficit of $100 billion and a cyclically adjusted budget deficit of $75 billion, then the economy:
a. could be below or above potential real GDP
b. must be below potential real GDP
c. must be at potential real GDP
d. must be above potential real GDP
If the federal budget has an actual budget deficit of $100 billion and a cyclically adjusted budget deficit of $75 billion, then the economy could be below or above potential real GDP.
The federal budget refers to the financial plan of the government that outlines its expected revenues and expenditures for a specific period, typically a fiscal year.
The actual budget deficit refers to the difference between government spending and revenue, regardless of the state of the economy. In this case, the deficit is $100 billion. However, the cyclically adjusted budget deficit takes into account the impact of the business cycle on government finances. If the cyclically adjusted deficit is lower than the actual deficit, it suggests that the economy is operating below its potential level of output (real GDP).
Conversely, if the cyclically adjusted deficit is higher than the actual deficit, it indicates that the economy is operating above its potential level of output. Therefore, with an actual deficit of $100 billion and a cyclically adjusted deficit of $75 billion, it is possible that the economy could be either below or above its potential real GDP, depending on the specific circumstances and factors affecting the economy at that time.
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Based on your financial statements for Business
Solutions answer the following questions:
a- Complete the accounting equation for
Business Solutions using the amounts in this format: $______ =
$______
A. Cash Accounts receivable Computer supplies Prepaid insurance Prepaid rent Office equipment Computer Equipment Accounts payable Unearned computer service revenue Common stock Dividends Computer serv
The accounting equation is Assets = Liabilities + Owner's Equity. Based on the given financial statements for Business Solutions, the accounting equation can be completed using the amounts given as follows: $73,000 = $26,000 + $47,000.
Accounting Equation: Assets=Liabilities+Owner's Equity Assets are the resources owned by a business, which have monetary value and are expected to generate future economic benefits. On the other hand, Liabilities are the debts or obligations of the business that arise due to past transactions, and which the business is expected to pay off in the future. Finally, Owner's Equity represents the residual interest in the assets of the business after the liabilities have been deducted.
The given financial statement provides the following information:Cash = $17,000Accounts receivable = $3,000Computer supplies = $4,000Prepaid insurance = $2,000Prepaid rent = $2,000Office equipment = $12,000Computer equipment = $33,000Accounts payable = $6,000 Unearned computer service revenue = $13,000Common stock = $25,000Dividends = $22,000
Computer service revenue = $74,000Therefore, the accounting equation can be completed as:$17,000 + $3,000 + $4,000 + $2,000 + $2,000 + $12,000 + $33,000 = $6,000 + $13,000 + $25,000 + $47,000$73,000 = $73,000Thus, the completed accounting equation for Business Solutions is $73,000 = $26,000 + $47,000.
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how
to do this question? do show the calculation with formulas on a
piece of paper or smth not a excel sheet as I need to do it on a
paper
5) WACC and optimal capital structure. Elliott Athletics is trying to determine its optimal capital structure, which now consists of only debt and common equity. The firm does not currently use prefer
The WACC of Elliott Athletics is 10.69%. To determine the optimal capital structure, the company must analyze how changes in the proportion of debt and equity affect the WACC and the overall cost of capital. By minimizing the WACC, the company can maximize shareholder value.
WACC and Optimal Capital Structure:
To determine the optimal capital structure of Elliott Athletics, which currently consists of only debt and common equity, several calculations need to be made.
The formula for WACC is as follows:
WACC = (E/V x Re) + ((D/V x Rd) x (1-Tc))
Where:
E = Market value of equity
D = Market value of debt
V = Total value of the company (E + D)
To calculate the cost of equity, the formula is:
Re = Rf + Beta (Rm - Rf)
Where:
Rf = Risk-free rate
Beta = Beta coefficient
Rm = Expected market return
Now, the cost of equity can be calculated as follows:
Re = 5% + 1.2(10% - 5%)
= 5% + 1.2(5%)
= 11%
Next, we calculate the WACC:
WACC = (5,000,000 / (5,000,000 + 2,000,000)) x 11% + ((2,000,000 / (5,000,000 + 2,000,000)) x 14.3% x (1-0.3))
= 0.6476 x 11% + (0.3524 x 14.3% x 0.7)
= 0.0711 + 0.0358
= 0.1069 or 10.69%
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Diem Bicycle Retail Store has annual budgeted sales of 12,000 bikes for the year 2021. The store will be closed for two weeks during the year due to annual holidays. The wholesale purchase price per bike is $620. The cost of processing each order to be placed with the wholesaler is $500 and carrying costs are $48 per bike per year.
Required: (Write the formulas and present the necessary computations)
1. What is the EOQ for the store?
2. Compute the total annual:
(i) Number of orders,
(ii) Total ordering costs,
(iii) Total carrying costs
(iv) Explain why traditional overhead allocation methods (i.e., plant-wide and departmental) distort product costs compared to ABC costing
Economic order quantity (EOQ) is the optimal quantity of inventory that should be ordered to minimize the total inventory costs.
The EOQ formula is given as;EOQ = sqrt (2DS/H)Where:D = Annual demand S = Cost of placing an order H = Annual holding cost per unit The given values are:D = 12,000 bikesS = $500 H = $48 per bike per year Hence,EOQ = sqrt (2 x 12,000 x 500 / 48) = 1738 bikes
Total carrying cost = Average inventory level x Holding cost per unitAverage inventory level can be calculated as;Average inventory level = EOQ/2Total carrying cost = (EOQ/2) x HTotal carrying cost = (1738/2) x 48 = $41616. Total cost is the sum of Total ordering costs and Total carrying costs.Total cost = Total ordering cost + Total carrying costTotal cost = $3500 + $4161 = $7661
The Economic Order Quantity (EOQ) is an essential inventory management tool that determines the optimal quantity of inventory that should be ordered at one time to minimize the total cost of inventory. Diem Bicycle Retail Store has an annual budgeted sales of 12,000 bikes for the year 2021.
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Matt's candle factory rents equipment for making candles and hires students. Matt pays $100 a day for equipment and $180 a day to each student he hires. The two left columns of the table show Matt's total product *** Calculate Matt's average fixed cost, average variable cost, average total cost, and marginal cost and complete the table. >>> Answer to 2 decimal places. Total product Labor (workers (candles per day) per day) 1 15 2 3 32 51 Average Average Average fixed variable total Marginal cost. cost cost cost (dollars per candle) L
Rent for equipment, R = 100 per day Hire cost per student, H C = 180 per day The table shows Matt's total product.
We get AFC = Fixed Cost / Output Average variable cost (AVC) = Variable Cost / Output Average total cost (ATC) = Total Cost / Output Marginal cost (MC) = Change in Total Cost / Change in Output We can also use the formula, MC = change in variable cost / change in output, since there is no change in fixed cost.
Total Product Labor (Workers)Candles per day111525321536Meaning, the output is produced by labour, which is a variable factor, and equipment which is a fixed factor.
Fixed Cost = Rent for equipment = 100Variable cost = Hire cost per student = 180
At each level of output, the cost can be calculated as shown below.
Labour (workers per day)Q:
Total Output (candles per day)TC:
Total cost, AVC: Average variable cost, ATC: Average total cost, MC: Marginal cost LQTC .
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The S&P 500 is currently at a value of 4,130 (as of July 29th, 2022 market close). On the same day, the Dec 22' S&P 500 futures contracts closed out the day at 4,152.25. These contracts mature on Dec 30th 2022 and thus have exactly 5 months remaining until their maturity. The continuously compounded risk-free rate is 2.50% per annum. The yield on the S&P 500 with continuous compounding is 1.52% per annum. What trade do we need to put on to take advantage of this arbitrage opportunity?
Group of answer choices
There is NO arbitrage opportunity available here. The S&P 500 futures are perfectly priced in line with No Arbitrage. Thus, the right arbitrage trade is to do nothing.
Go long the S&P 500 futures, short the S&P 500 Index and invest any excess cash we have at 2.5% interest.
Go short the S&P 500 futures, and borrow any money needed at 2.5% to buy the S&P 500 index.
Go short the S&P 500 futures and borrow any money needed at 2.5% to buy the S&P 500 Index. Arbitrage trade refers to a strategy where an investor takes advantage of price discrepancies or inefficiencies in the financial markets to make a risk-free profit.
To determine the appropriate arbitrage trade in this scenario, we need to compare the prices of the S&P 500 Index and the S&P 500 futures contracts and consider the risk-free rate.
The current price of the S&P 500 Index is 4,130, and the price of the Dec 22' S&P 500 futures contract is 4,152.25. We have 5 months remaining until the futures contract's maturity.
First, we calculate the cost of carrying the S&P 500 Index:
Cost of carrying = Index price * (continuous risk-free rate - continuous dividend yield)
Cost of carrying = 4,130 * (0.025 - 0.0152)
Cost of carrying = $20.78
Next, we compare the cost of carrying to the difference in prices between the futures contract and the index:
Difference in prices = Futures price - Index price
Difference in prices = 4,152.25 - 4,130
Difference in prices = $22.25
Since the cost of carrying ($20.78) is less than the difference in prices ($22.25), there is an arbitrage opportunity available.
The appropriate arbitrage trade in this case would be to:
Go short the S&P 500 futures (sell futures contracts)
Go long the S&P 500 Index (buy the index)
Borrow money at the risk-free rate of 2.5% to fund the purchase of the index
By executing this trade, one can take advantage of the price discrepancy between the futures contract and the index and potentially profit from the arbitrage opportunity.
Therefore, the correct answer is:
Go short the S&P 500 futures and borrow any money needed at 2.5% to buy the S&P 500 Index.
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Selected T-accounts for Jade Mineral Corporation at December 31, 2020, are duplicated below. Note: - Dividends were not pald during 2018 or 2019 . Dividends of $5.80 per common share were declared and paid for the year endec December 31,2020 - 2018 was the first year of operations. - All shares were issued in the first year of operations. Required: Using the information provided, answer the following questions. 1. What is the total amount of dividends that the preferred shareholders are entitled to receive per year? 2. Are there any dividends in arrears at December 31, 2019 ? If yes, calculate the dividends in arrears. 3. Calculate total dividends paid during 2020 to the: 4. During 2020, the company earned profit of $418,000. Calculate the balance in the Retained Earnings account at the end of 2020. 5. Calculate Total Contributed Capital at the end of 2020 . 6. Calculate Total Equity at December 31,2020 . 7. How many more preferred shares are avaliable for issue at December 31,2020 ? 8. What was the average issue price per share of the preferred shares at December 31,2020 ? (Round the final answer to one decimal place.)
1. The total amount of dividends that the preferred shareholders are entitled to receive per year is $60,000.
2. No, there are no dividends in arrears at December 31, 2019.
3. The total dividends paid during 2020 to the common shareholders are $174,000, and to the preferred shareholders are $60,000.
4. The balance in the Retained Earnings account at the end of 2020 is $193,200.
5. The Total Contributed Capital at the end of 2020 is $1,200,000.
6. The Total Equity at December 31, 2020, is $1,563,200.
7. The number of more preferred shares available for issue at December 31, 2020, is 15,000.
8. The average issue price per share of the preferred shares at December 31, 2020, is $88.7 per share.
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The slope of the demand curve equal the elasticity of demand of the demand curve. does does not QUESTION 10 Now move to question 3 on the problem set pertaining to Columbus Crew. The elasticity of demand for a Crew tickets was found to be -2.19. Which of the following best describes the degree of elasticity it exhibits? It is perfectly elastic. It is elastic. It is unitary. It is inelastic. It is perfectly inelastic. QUESTION 11 Staying with the information from question #3, A 1% increase in the price of a Crew tickets would result in a decrease of % (numeric) in the quantity demanded of tickets. QUESTION 12 Suppose the Columbus Crew decided to LOWER its ticket price by 2%. The resulting percentage change in the quantity demanded of tickets = (numeric). QUESTION 13 Finally, if the Columbus Crew lowered its price of tickets by 2% its total revenue from tickets would increase. would decrease. would remain unchanged. cannot be calculated without more information. Question 3 Economists estimate the short run elasticity of demand for Columbus Crew soccer tickets is −2.19. i) What degree of elasticity do tickets to the Crew game exhibit? ii) A 1% change in the price of Crew tickets would do what to the quantity demanded of clothing? iii) What would happen, if the Crew lowered the price of its tickets by 2%, to their sales (numeric answer)? iv) What happens to Crews' total revenue if it were to lower their ticket price by 2% ?
Answer: If the price decreases by 2% and the quantity demanded increases by 4.38%, then the total revenue would increase.
Explanation:
Question 10: The elasticity of demand for a Crew tickets was found to be -2.19. The elasticity of demand refers to how sensitive the quantity demanded of a good is to changes in its price. Elasticity can be expressed as a positive or negative number, and it is calculated as the percentage change in quantity demanded divided by the percentage change in price.The elasticity of demand is less than -1, indicating that it is elastic. Therefore, option (B) It is elastic, best describes the degree of elasticity it exhibits.
Question 11: A 1% increase in the price of a Crew tickets would result in a decrease of 2.19% in the quantity demanded of tickets. This can be calculated by multiplying the price change by the elasticity of demand: 1% x -2.19 = -2.19%. Therefore, the decrease in the quantity demanded of tickets would be 2.19%.
Question 12: If the Columbus Crew decided to lower its ticket price by 2%, the resulting percentage change in the quantity demanded of tickets can be calculated by multiplying the price change by the elasticity of demand:
2% x -2.19 = -4.38%. Therefore, the quantity demanded of tickets would increase by 4.38%.
Question 13: Finally, if the Columbus Crew lowered its price of tickets by 2%, its total revenue from tickets would increase. This is because the decrease in price would be offset by the increase in quantity demanded. The total revenue can be calculated by multiplying the price by the quantity:
Revenue = Price x Quantity
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What are some of the decisions made during the activities in
this chapter that were required by the design of the new Universal
Aerospace Corporation data center?
During the activities in the chapter, several decisions were made in response to the design of the new Universal Aerospace Corporation (UAC) data center. Some of these decisions include: Site Selection, Facility Design, Energy Efficiency, Security Measures, Scalability and Future Growth.
Site Selection: One crucial decision was selecting the appropriate location for the data center. Factors such as proximity to the company's headquarters, availability of resources like power and connectivity, environmental considerations, and security were taken into account.
Facility Design: The design of the data center involved decisions regarding the layout, infrastructure, and equipment. Determining the optimal placement of servers, networking components, cooling systems, and backup power systems required careful consideration to ensure efficient operations and scalability.
Energy Efficiency: UAC had to make decisions related to energy efficiency and sustainability. Choices such as employing energy-efficient equipment, implementing cooling strategies, and utilizing renewable energy sources were made to minimize the environmental impact and optimize long-term energy consumption.
Security Measures: The design of the data center necessitated decisions regarding security measures. This included implementing physical security controls, such as access control systems, surveillance cameras, and secure entry points, as well as cybersecurity measures to safeguard against potential threats and unauthorized access.
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Fish, Inc., an exempt organization, reports unrelated business income of $500,000 (before any charitable contribution deduction). During 2022, Fish makes charitable contributions to other organizations of $54,000, of which $38,000 is associated with the unrelated trade or business.
a. Fish's unrelated business taxable income (UBTI) is $fill in the blank 1.
b. Select from the choices below which one properly expresses the computation in part (a) as a Microsoft Excel formula.
UBTI=UBI_BEFORE-1000-MAX(CHAR,(UBI_BEFORE*.2))UBTI=UBI_BEFORE-1000-MIN(CHAR,(UBI_BEFORE*.1))UBTI=UBI_BEFORE-2000-MAX(CHAR,(UBI_BEFORE*.2))UBTI=UBI_BEFORE-2000-MIN(CHAR,(UBI_BEFORE*.1))UBTI=UBI_BEFORE-1000-MIN(CHAR,(UBI_BEFORE*.1))
c. Assume instead that the charitable contributions are $41,000. The UBTI i
The UBTI is $462,000 if the charitable contribution is $54,000, and the UBTI is $459,000 if the charitable contribution is $41,000.
Given, Fish, Inc., an exempt organization, reports unrelated business income of $500,000 (before any charitable contribution deduction). During 2022, Fish makes charitable contributions to other organizations of $54,000, of which $38,000 is associated with the unrelated trade or business.
The charitable contribution deduction is the smaller of:
the total charitable contribution amount, or the unrelated business taxable income (UBTI).
Charitable contribution deduction = min (total charitable contribution amount, UBTI)
= min ($54,000, UBTI).
Given, $38,000 of the charitable contribution is associated with the unrelated trade or business.
Therefore, charitable contribution deduction = min ($54,000, UBTI)
= min ($38,000, UBTI).
This can be further simplified to:
Charitable contribution deduction = $38,000
Thus, UBTI = UBI before - Charitable contribution deduction = $500,000 - $38,000
= $462,000
The computation in part (a) as a Microsoft Excel formula is
UBTI=UBI_BEFORE-1000-MIN(CHAR,(UBI_BEFORE*.1)).
Assume instead that the charitable contributions are $41,000.
The UBTI is calculated as follows:Charitable contribution deduction = min (total charitable contribution amount, UBTI) = min ($41,000, UBTI)
= $41,000.UBTI = UBI before - Charitable contribution deduction
= $500,000 - $41,000
= $459,000.
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when price and total revenue move in the same direction along the demand curve, this indicates that demand is ____
When the price and total revenue move in the same direction along the demand curve, this indicates that the demand is inelastic. When the price of a product increases, the quantity of product demanded by the consumers decreases because of the high price.
On the other hand, when the price of the product decreases, the quantity of product demanded by the consumers increases .In elastic demand, when the price of a product increases, the quantity of product demanded by the consumers decreases significantly because of the high price. Likewise, when the price of a product decreases, the quantity of product demanded by the consumers increases significantly because of the low price.
However, when the price and total revenue move in the same direction along the demand curve, this indicates that the demand is inelastic .Therefore, the given statement that "when price and total revenue move in the same direction along the demand curve, this indicates that demand is inelastic." is correct. When the demand is inelastic, consumers don't change their buying habits even if the price of the product changes.
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Suppose tea and coffee are perfect substitutes. If tea costs $4
per packet and coffee $6 per
packet, and there is a budget of $36 per month, how much of each
good will be purchased?
The consumer will purchase 9 packets of tea and no coffee when tea and coffee are perfect substitutes with the given prices and budget.
To determine how much of each good will be purchased, we need to compare their prices and the available budget.
Let's assume the quantity of tea purchased is denoted by T, and the quantity of coffee purchased is denoted by C.
Since tea and coffee are perfect substitutes, the consumer will choose the good with the lower price per unit. In this case, since tea costs $4 per packet and coffee costs $6 per packet, the consumer will choose tea as it is cheaper.
To determine the quantity of tea that can be purchased, we divide the budget by the price of tea:
Quantity of tea (T) = Budget / Price of tea = $36 / $4 = 9 packets of tea.
Since the budget is fully allocated to tea, no coffee will be purchased.
Therefore, the consumer will purchase 9 packets of tea and no coffee when tea and coffee are perfect substitutes with the given prices and budget.
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One effective method to reduce the bullwhip effect in a supply
chain is to replace inventory with:
Information
Outsourcing
TOFC service
Transportation
One of the effective method to reduce the bullwhip effect in supply chain is to replace inventory with information. the correct answer is option A.
The phenomenon known as the bullwhip effect occurs when minute shifts in demand from customers propagate throughout the supply chain, amplifying fluctuations in order quantities and inventory levels.
One of the primary drivers of the bullwhip impact is the absence of exact and ideal data dividing between store network accomplices.
Supply chain partners can enhance visibility and communication by replacing inventory with information, resulting in improved demand forecasting and coordination.
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Suppose the interest rate that banks are charging their best customers is 5.5%, the inflation rate is 1.5%, and the most recent economic growth rate was 3.1%. Calculate the real interest rate that would result from this scenario (to the nearest tenth of a percent).
The real interest rate can be calculated by subtracting the inflation rate from the nominal interest rate. In this scenario, the real interest rate would be approximately 4.0% (5.5% - 1.5%).
The real interest rate is determined by subtracting the inflation rate from the nominal interest rate. In this case, the nominal interest rate is 5.5% and the inflation rate is 1.5%. By subtracting 1.5% from 5.5%, we get a real interest rate of approximately 4.0%.
The real interest rate represents the purchasing power of the interest earned or paid on a loan or investment. It takes into account the impact of inflation, which erodes the value of money over time. In this scenario, the real interest rate of 4.0% suggests that the return on investment or the cost of borrowing is 4.0% above the rate of inflation. This information is valuable for individuals and businesses when making financial decisions, as it helps to assess the true profitability or cost of loans and investments.
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_____ is designed to stimulate wholesalers and retailers to push specific products more aggressively over the short term.
A. Product placement
B. Trade promotion
C. Viral marketing
D. Consumer promotion
The term that is designed to stimulate wholesalers and retailers to push specific products more aggressively over the short term is Trade promotion. Therefore, the correct option is B.
What is Trade promotion?Trade promotion is a type of marketing campaign or scheme aimed at increasing the demand for a product in retail stores and wholesalers. It typically involves financial incentives or rewards for trade partners (such as retailers and wholesalers) to promote the product to their customers through advertising and other sales promotion techniques.
Trade promotion is often used to motivate wholesalers and retailers to push specific products more aggressively over the short term. This is usually accomplished through sales incentives such as price reductions, volume discounts, or free merchandise.
In conclusion, Trade promotion is designed to stimulate wholesalers and retailers to push specific products more aggressively over the short term.
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On November 1, 2019, Two Sisters Company pays $36,000 cash for six months rent and debits prepaid rent at the time of the payment. The amount of the adjusting entry on December 31, 2019, would be: OA. $6,000 OB. $0 OC. $12,000 OD. $24,000
The amount of the adjusting entry on December 31, 2019 is option A) $6,000
On November 1, 2019, Two Sisters Company pays $36,000 cash for six months rent and debits prepaid rent at the time of the payment. The amount of the adjusting entry on December 31, 2019, would be $18,000.
The adjusting entry would be debiting rent expense for $18,000 and crediting prepaid rent for the same amount.
The accounting principles have specific guidelines for the treatment of prepaid expenses. Prepaid expenses are the payments made in advance for future expenses, and they are initially recorded as assets on the balance sheet. However, as time passes, they lose their asset quality, and hence, their adjustment becomes necessary. Prepaid expenses are converted into expenses with the help of adjusting entries.
The company paid $36,000 for six months rent on November 1, 2019, and debited prepaid rent at the time of payment. The adjusting entry on December 31, 2019, is required to be passed to convert the prepaid rent to rent expense and record the expense incurred during the period.
Here, the company paid $36,000 for six months, and only two months passed since the payment.
To calculate the monthly rent, $36,000 is divided by 6, which equals $6,000.
So, the adjusting entry on December 31, 2019, would be option A) $6,000.
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if the elasticity of demand is 5, and the price of a cup of coffee is $2, how much would the seller need to reduce her price in order to increase the quantity sold by 50 percent?
To increase the quantity sold by 50%, the seller needs to reduce the price by $0.2 if the elasticity of demand is 5.
Here are the steps involved in solving this problem:
Percentage price reduction = (Percentage increase in quantity sold) / (Elasticity of demand)
Calculate the percentage increase in quantity sold: 50% / 100% = 0.5
Divide the percentage increase in quantity sold by the elasticity of demand: 0.5 / 5 = 0.1
Multiply the result by the initial price to find the amount of price reduction needed: 0.1 * $2 = $0.2
Therefore, the seller would need to reduce her price by $0.2 in order to increase the quantity sold by 50 percent.
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Accounting for land improvements requires that the land improvements are capitalized and then ____ over periods benefited by their use.
Accounting for land improvements requires that the land improvements are capitalized and then depreciated over periods benefited by their use.
Land improvements refer to enhancements made to land that increase its value or utility. Examples of land improvements include the construction of driveways, fences, parking lots, landscaping, or other additions that enhance the land's functionality or aesthetic appeal.
When land improvements are incurred, they are initially recorded as an asset on the company's balance sheet and capitalized. Capitalization involves recording the cost of the land improvements as a long-term asset rather than expensing it immediately.
Since land improvements have a limited useful life, they are subject to depreciation. Depreciation is the process of allocating the cost of an asset over its useful life. The cost of land improvements is systematically allocated over the periods that benefit from their use through depreciation expense. The specific method of depreciation used will depend on the company's accounting policies and applicable accounting standards.
By depreciating land improvements, the company recognizes the gradual consumption of their value over time, reflecting the wear and tear or obsolescence that occurs. This helps to match the cost of the land improvements with the periods they benefit, providing a more accurate representation of the company's financial performance and asset values.
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Question 15 (1 point) Redman Company manufactures customized desks. The following pertains to Job No. 978: Direct materials used Direct labor hours worked Direct labor rate per hour Machine hours used
Redman Company is a manufacturer that designs and produces personalized desks. Job number 978 has the following information: Direct materials used Direct labor hours worked Direct labor rate per hour Machine hours usedThe cost of materials that was used for Job No.
978 is known as direct materials. It is an expense that can be traced back to the specific task. The quantity of direct materials utilized can be determined by subtracting the beginning inventory from the ending inventory of direct materials.
Redman Company should include any additional direct materials acquired during the production of Job No. 978.The total number of hours of labor required to complete Job No. 978 is referred to as direct labor hours. This is a cost that is traceable to the specific task.
The labor hours can be calculated by multiplying the number of workers by the total time it took to complete the task. The direct labor rate per hour is the amount of money paid per hour of work done by the employee. In the context of Job No.
978, Redman Company is expected to record the direct labor rate per hour for all workers who worked on the task.
Machine hours are the number of hours that a machine is used to produce a product. It refers to the length of time that a machine is operating.
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1 If Diamond Corporation sells 10,000 common shares at $22 per share, the entry to record the issuance or sale will be Multiple Choice O A debit to cash for $220.000, a credit to common shares for $10,000 and a credit to retained earnings for $210,000. O A credit to cash for $220,000, a debit to common shares for $10,000 and a debit to retained earnings for $210,000. O O A credit to cash for $220,000 and a debit to common shares for $220,000. A debit to cash for $220,000 and a credit to common shares for $220,000. When no other qualifying statements are made, the term "dividend" can mean either a cash or a stock dividend. True or False True False Which of the following statements about stock options is false? Multiple Choice O O Stock options were developed to motivate executives to achieve goals important to the shareholders. The majority of publicly-traded companies have instituted a stock option plan. Employees will likely exercise the stock option even if the exercise price is greater than the market price of the shares. The cost of stock options is recorded as compensation expense by the issuing company. A large stock dividend is recorded at the average issue price of the shares distributed. True or False True False The earnings per share (EPS) ratio is computed by dividing net earnings by average number of common shares issued. True or False True False Tanner Corporation declared a $3 million dividend in 2020. The following share capital was outstanding: 4,000,000 common shares; 50,000 cumulative preferred shares with an $8 dividend amount. No dividend was declared in 2019. How much will be distributed per share to the preferred shareholders and common shareholders, respectively? Multiple Choice O $16 and $0.65 O $8 and $0.65 O $8 and $0.55 Save & Exit Submit $16 and $0.55
If Diamond Corporation sells 10,000 common shares at $22 per share, the entry to record the issuance or sale will be credit to cash for $220,000 and a debit to common shares for $220,000.When no other qualifying statements are made, the term "dividend" can mean either a cash or a stock dividend.
The statement that is true about stock options is that the cost of stock options is recorded as compensation expense by the issuing company.
A dividend of $8 will be distributed per share to the preferred shareholders and $0.55 will be distributed per share to the common shareholders, respectively.
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what is the relationship between trust and commitment in
business? Give an example to explain your answer
Trust and commitment are closely intertwined in business relationships. Trust refers to the belief or confidence that one party has in the reliability, honesty, and integrity of another party. Commitment, on the other hand, refers to the dedication, loyalty, and willingness to invest time, effort, and resources into a business relationship or partnership.
In a business context, trust is essential for building strong and sustainable relationships. When there is trust between two parties, it creates a foundation of reliability and mutual understanding. Trust enables open communication, transparency, and the sharing of sensitive information. It reduces uncertainty and the need for constant monitoring or verification.Commitment, on the other hand, is the result of trust. When trust is established, it fosters a sense of commitment in the business relationship. Parties are more likely to be dedicated, loyal, and willing to go the extra mile to fulfill their obligations and meet the expectations of the other party. Commitment leads to long-term collaboration and mutual growth.
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The last step in activity-based costing is to
01) assign overhead costs to products, using overhead rates determined for each cost pool.
02) compute the activity-based overhead rate per cost driver.
03) Identify and classify the activities involved in the manufacture of specific products, and
allocate overhead to cost pools.
04) identify the cost driver that has a strong correlation to the activity cost pool.
The correct answer is assign overhead costs to products, using overhead rates determined for each cost pool. Activity-based costing (ABC) is a system that estimates the cost of goods and services by analyzing the specific activities that contribute to the overall cost.
The process entails the following steps. Identify the products or services to analyze. Determine the activities that are necessary to produce the products or services. Assign the costs of the activities to specific cost pools. Identify the appropriate cost driver(s) for each cost pool.
The cost driver is the variable that causes the activity to occur. For example, machine hours are a common cost driver for machine maintenance. Calculate the activity-based overhead rate. The activity-based overhead rate is the cost per unit of activity.
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the best way to summarize the controlled business law is that the producer a: should never sell insurance on their own life. b: must sell more insurance to strangers than they do to themselves, their spouse or to their employer. c: is not allowed to sell controlled business in any amount d: can sell as much insurance as they can to everyone but themselves.
The best way to summarize the controlled business law is that C) the producer is not allowed to sell controlled business in any amount. This means that producers are restricted from selling insurance on their own life or to themselves, their spouse, or their employer. However, there are no restrictions on selling insurance to others.
Controlled business refers to the sale of insurance policies where the producer has a personal interest or relationship with the insured. The purpose of the controlled business law is to ensure ethical practices and prevent potential conflicts of interest. Selling insurance on one's own life or to close associates can create biased decision-making and compromise the integrity of the insurance industry.
To comply with the controlled business law, producers must prioritize selling insurance to strangers or individuals with whom they have no personal relationship. This ensures that insurance transactions are conducted objectively and in the best interest of the insured. While producers are restricted from selling controlled business, they are allowed to sell insurance to a wide range of clients who are unrelated to them.
In summary, the controlled business law prohibits producers from selling controlled business, which includes selling insurance on their own life or to themselves, their spouse, or their employer. However, they are permitted to sell insurance to unrelated individuals or strangers.
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if firm a intends to pay $7 million cash for firm b, then calculate the cost of this merger.
When a company acquires another firm, it is known as a merger. Mergers can be evaluated from various perspectives, including market value, accounting cost, and tax implications. The cost of a merger between two companies can be calculated in a variety of ways, but one of the most common methods is to use the accounting cost of the merger.
Accounting cost is the expense that the acquiring company would report on its financial statements after completing the merger. The accounting cost of a merger between two companies can be calculated as follows:
Accounting cost = Acquisition price - Fair value of net assets acquired
In the case of the merger of firm A and firm B, firm A intends to pay $7 million in cash to acquire firm B. Let's say that the fair value of the net assets acquired by firm A is $5 million.
Accounting cost = $7 million - $5 million
Accounting cost = $2 million
Therefore, the cost of the merger between firm A and firm B is $2 million. This accounting cost will be recorded by firm A after completing the merger, and it will affect the company's financial statements. Note that the accounting cost of a merger is just one of the many factors that must be considered when evaluating the financial impact of a merger.
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Yankee Fish Company sells a product which has a unit sales price of $5, unit variable cost of $3 and total fixed costs of $240,000. The number of units the company must
sell to break even is
01) 48,000 units.
02) 120,000 units.
03) 80,000 units.
04) 480,000 units.
The break-even point is the level of sales where total revenue equals total costs (fixed and variable). In other words, it is the point at which the company neither earns a profit nor incurs a loss.
It is computed by dividing the total fixed cost by the contribution margin per unit. The unit contribution margin is computed by subtracting the unit variable cost from the unit sales price.
For this reason, the break-even point can also be calculated by dividing the total fixed costs by the contribution margin ratio. The contribution margin ratio represents the percentage of the unit sales price that is available to contribute towards covering the total fixed costs and earning a profit.
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If the MPC equals 0.75, $100 billion tax increase will decrease consumption in the first round by
Multiple Choice
a) $100 billion.
b) $300 billion.
c) $400 billion.
d) $75 billion
The marginal propensity to consume (MPC) represents the portion of additional income that individuals choose to spend on consumption. In this case, the MPC is given as 0.75, which means that for every additional dollar of income, individuals will spend 75 cents on consumption.
the correct answer is option (d) $75 billion.
To calculate the decrease in consumption resulting from a $100 billion tax increase, we multiply the tax increase by the MPC. So, the decrease in consumption in the first round can be calculated as:
$100 billion * 0.75 = $75 billion.
When there is a tax increase, individuals have less disposable income, which leads to a decrease in their consumption. The magnitude of this decrease is determined by the MPC. In this case, with an MPC of 0.75, for every dollar of tax increase, individuals reduce their consumption by 75 cents. Thus, a $100 billion tax increase would result in a decrease in consumption of $75 billion in the first round.
It's important to note that this calculation represents the immediate impact in the first round and does not consider any potential multiplier effects or long-term adjustments in spending patterns.
the correct answer is option (d) $75 billion.
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