During the housing boom of the 1920s, banks overwhelmingly refused to hold mortgage-backed securities because they were considered too risky. This was due to several factors, including the lack of government regulation and the practice of "redlining."
Redlining is a practice in which banks and other financial institutions refuse to offer mortgages or other types of loans to people living in certain areas based on race, ethnicity, or socioeconomic status. This practice disproportionately affected people of color and those living in low-income neighborhoods, making it difficult for them to buy homes and build wealth.
Mortgage-backed securities were also seen as risky because they were not backed by the full faith and credit of the government. This meant that if homeowners defaulted on their mortgages, the securities would become worthless. Additionally, there was a lack of transparency in the mortgage market, with many mortgages being sold and resold without the knowledge of the original borrower.
Banks also had limited resources to devote to mortgage lending, as they were focused on other types of loans and investments. Many banks were also dealing with the effects of World War I and the stock market crash of 1929, which made them hesitant to take on additional risk.
In summary, the refusal of banks to hold mortgage-backed securities during the housing boom of the 1920s was due to a combination of factors, including redlining, lack of government regulation, lack of transparency in the mortgage market, and limited resources.
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Harriet Knox. Ralph Patton, and Marcia Diamond work for a family physician. Dr. Gwen Conrad, who is in private practice. Dr. Conrad is knowledgeable about office management practices and has segregated cash receipt duties as follows. Knox opens the mail and prepares a triplicate list of money received. She sends a copy of the list to Patton, the cashier who deposits the receipts daily to the bank. Diamond recordkeeper receives a copy of the receipts and posts payments to patients' accounts. About once a month the office clerks have an expensive lunch they pay for as follows. First, Patton endorses a patient's check in Dr. Conrad's name and cashes it in the bank. Knox then destroys the remittance advice accompanying the check. Finally, Diamond posts payment to the customer's account as a miscellaneous credit. The three justify their actions by their relatively low pay and knowledge that Dr. Conrad will likely never miss the money
Required
1. Who is the best person in Dr. Conrad's office to reconcile the bank statement?
2. Would a bank reconciliation uncover this office fraud?
3. What are some procedures to detect this type of fraud?
4. Suggest additiona
1. The best person in Dr. Conrad's office to reconcile the bank statement is Knox, who prepares a triplicate list of money received.
2. Yes, a bank reconciliation would uncover this office fraud.
3. Procedures to detect this type of fraud are segregation of duties, documentation procedures, physical controls, independent checks, and rotation of duties.
4. In addition, the employer must take some protective measures such as limiting access to sensitive information, conducting thorough background checks, and ensuring that employees adhere to ethical standards.
Dr. Gwen Conrad works as a family physician in private practice.
Harriet Knox, Ralph Patton, and Marcia Diamond work for her.
Dr. Conrad has divided cash receipt responsibilities among her employees.
Knox prepares a triplicate list of received cash and mails a copy to Patton.
Patton, the cashier, deposits the money in the bank on a daily basis.
Diamond is in charge of entering the payment data into patients' accounts.
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Job or Process Costing? You should determine whether a process
costing or job
costing system is most likely used to calculate product costs
for each item listed in
the following and should explain why
A process costing system is likely to be used to calculate product costs for each item listed in the following, and this is why.Process costing is a system of cost accounting used to allocate production costs to products.
It is frequently used in industries where products are made in large batches, such as the chemicals, textiles, and food processing industries. The following are some examples where process costing would most likely be used to calculate product costs:1. Canned vegetables – This product requires a significant amount of processing, which is typically done in large batches. The use of process costing makes it easier to allocate production costs to each unit of product.
Clothing manufacturer – This industry frequently uses process costing to allocate costs to the production of clothes, which are made in large quantities.Process costing is frequently used in industries that manufacture products using a consistent process. Job costing is usually used in industries that manufacture unique products. It involves allocating costs to each job separately, rather than to the batch as a whole.
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Which of the following is not one of the three important dividend dates Date of declaration Date of record Date of notification Date of payment
The date of notification is not one of the three important dividend dates. Dividends are payments made by a corporation to its shareholders. There are three important dividend dates that an investor should be aware of. These are Date of declaration, Date of record, and Date of payment.
The date of declaration is the date when the board of directors of a corporation announces the amount of the dividend and the date it will be paid to shareholders. The date of record is the date when the corporation checks its records to determine which shareholders are entitled to receive the dividend. The date of payment is the date when the dividend is actually paid to shareholders.
Content loaded refers to a website or application that has been fully displayed on a user's device and is ready to be viewed or interacted with. It is not related to dividend dates.
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Janus Coat Company purchased a delivery truck on June 1 for $30,000, paying $10,000 cash and signing a 6%, 2-month note for the remaining balance. The truck is expected to depreciate $6,000 each year. Janus Coat Company prepares monthly financial statements. (a) and (b) (a) Use the tabular summary below to record the acquisition of the delivery truck on June 1st. (b) Enter any adjustments that should be made on June 30, using the tabular summary (
The Delivery Truck account is debited with the cost of the truck, which is $30,000.
Since Janus Coat Company prepares monthly financial statements, an adjustment for depreciation needs to be made at the end of June.
(a) Recording the acquisition of the delivery truck on June 1st:
Date Account Debit Credit
June 1 Delivery Truck $30,000
Notes Payable $20,000
Cash $10,000
The Delivery Truck account is debited with the cost of the truck, which is $30,000.
The Notes Payable account is credited with the remaining balance of $20,000, representing the amount financed through the note.
Cash account is credited with the cash paid upfront, which is $10,000.
(b) Adjustments on June 30:
Date Account Debit Credit
June 30 Depreciation Expense $500
Accumulated Depreciation $500
Since Janus Coat Company prepares monthly financial statements, an adjustment for depreciation needs to be made at the end of June.
The truck is expected to depreciate $6,000 each year, so the monthly depreciation expense is calculated as $6,000 divided by 12, which equals $500.
The Depreciation Expense account is debited for $500, and the Accumulated Depreciation account is credited for the same amount to reflect the accumulated depreciation on the truck for the first month.
This adjustment recognizes the reduction in the value of the truck as it is being used in the business operations.
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on january 1, 20x1, hilton-top hotels issued the following bond payable, interest payment is due annually on december 31. par value of the bond 800,000 coupon rate 5.35% issue price 771,000 term 10 cost to retire 832,000 assuming the bond was fully retired on december 31, 20x4, what is the gain (loss) on retirement of the bond?
The gain on retirement of the bond is $232,200. This represents the difference between the cost to retire the bond and the carrying value of the bond at the time of retirement.
The gain (loss) on the retirement of the bond can be calculated by comparing the cost to retire the bond with the carrying value of the bond at the time of retirement. The carrying value of the bond represents the remaining balance of the bond after accounting for any amortization of the discount or premium.
Given the information provided:
Par value of the bond: $800,000
Coupon rate: 5.35%
Issue price: $771,000
Term: 10 years
Cost to retire: $832,000
To determine the carrying value of the bond at the time of retirement, we need to calculate the accumulated amortization of the discount or premium over the four-year period.
First, calculate the annual interest payment:
Annual interest payment = Par value * Coupon rate = $800,000 * 5.35% = $42,800
Next, calculate the total interest expense over the four years:
Total interest expense = Annual interest payment * Number of years = $42,800 * 4 = $171,200
Now, calculate the carrying value of the bond at retirement:
Carrying value of the bond = Issue price - Total interest expense = $771,000 - $171,200 = $599,800
Finally, calculate the gain (loss) on retirement:
Gain (loss) on retirement = Cost to retire - Carrying value of the bond = $832,000 - $599,800 = $232,200
Therefore, the gain on retirement of the bond is $232,200.
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Basket Entertainment Co.'s Trial Balance is below. All accounts should have normal balances. After correcting the Trial Balance, how much should debits equal? After corrections, the total of debits is
The Trial Balance for Basket Entertainment Co. has some errors in it and needs to be corrected. The corrected version of the trial balance should be as follows, Basket Entertainment Co.
Trial Balance As of December 31 Account Titles Debit Credit Cash $ 1,000 - Equipment 4,000 - Accumulated Depreciation - $ 2,000 Supplies 300 - Prepaid Rent 1,200 - Accounts Payable - $ 600 Salaries Payable - 400 Common Stock - 3,000 Retained Earnings 700 - Dividends - 800 Service.
Revenue - $ 2,100 Rent Expense - 500 Salary Expense - 700 Depreciation Expense - 600 Supplies Expense - 100 Total $ 7,300 $ 7,300After correcting the trial balance, the total of debits should still equal more than 100. This is because there are several accounts with debit balances.
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The Trial Balance of Basket Entertainment Co. is given below, where all accounts have normal balances Basket Entertainment Co.
Trial Balance Account Titles Debit Credit Cash [tex]$11,000[/tex]. Accounts Receivable 4,000Supplies 2,000Prepaid Insurance 3,000Land 20,000Buildings 80,000Accumulated Depreciation—Buildings [tex]$10,000[/tex]. Equipment 20,000Accumulated Depreciation—Equipment 5,000Accounts Payable 8,000Salaries Payable 3,000Common Stock 50,000Retained.
Earnings 23,000 Dividends 12,000Service Revenue 95,000Rent Expense 12,000Salaries Expense 50,000Supplies Expense 5,000Insurance Expense 2,000Utilities Expense 4,000Depreciation Expense 5,000Total [tex]$203,000[/tex] [tex]$203,000[/tex].
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Exercise 5-7 Analyzing and recording merchandise transactions-perpetual LO3 On May 11, 2020, Wilson Purchasing purchased $23,000 of merchandise from Happy Sales; terms 2/10, n/90, FOB Happy Sales. The cost of the goods to Happy was $18,000. Wilson paid $1,300 to Express Shipping Service for the delivery charges on the merchandise on May 11. On May 12, Wilson returned $3,600 of goods to Happy Sales, which restored them to inventory. The returned goods had cost Happy $2,800. On May 20, Wilson mailed a cheque to Happy for the amount owed on that date. Happy received and recorded the cheque on May 21. Required a. Present the journal entries that Wilson Purchasing should record for these transactions. Assume thay Wilson uses a perpetual inventory system. b. Present the journal entries that Happy Sales should record for these transactions. Assume that Happy used a perpetual inventory system. Analysis Component: Assume that the buyer, Wilson Purchasing, borrowed enough cash to pay the balance on the last day of the discount period at an annual interest rate of 4% and paid it back on the last day of the credit period. Calculate how much the buyer saved by following this strategy. Use a 365 -day year and round oll calculations to the nearest whole cent.
The buyer saved $919.89 by following this strategy.
a) Journal entries for Wilson Purchasing:
Date Account Titles and Explanation Debit Credit
May 11 Merchandise Inventory $23,000
Accounts Payable $23,000
(To record the purchase of merchandise on account from Happy Sales)
May 11 Delivery Expense $1,300
Cash $1,300
(To record the delivery charges paid on May 11)
May 12 Accounts Payable $3,600
Merchandise Inventory $2,800
Loss on Purchase Returns $800
(To record the return of goods to Happy Sales on May 12)
May 20 Accounts Payable $22,440
Cash $22,440
(To record the payment made to Happy Sales)
b) Journal entries for Happy Sales:
Date Account Titles and Explanation Debit Credit
May 11 Accounts Receivable $23,000
Sales $23,000
(To record the sale of merchandise on May 11)
May 12 Merchandise Inventory $2,800
Loss on Purchase Returns $800
Accounts Receivable $3,600
(To record the return of goods by Wilson on May 12)
May 21 Cash $22,440
Sales Discounts $460
Accounts Receivable $23,000
(To record the receipt of payment from Wilson on May 21)
Analysis Component:
The cost of goods for Happy Sales is $18,000. Therefore, the cost of goods sold for Wilson is also $18,000. Wilson received a 2% discount by paying within the discount period. Hence, the net price paid by Wilson is $22,440 - ($23,000 x 2%) = $22,440 - $460 = $21,980. The interest paid by Wilson for borrowing cash is ($23,000 x 2% x 80/365) = $100.11. If Wilson had not taken the discount, the amount payable would be $23,000.
Therefore, the amount saved by Wilson is $23,000 - $21,980 - $100.11 = $919.89.
Therefore, the buyer saved $919.89 by following this strategy.
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Six yoars ago, Corporation CN purchased a business and copitalized $200,000 of the purchase price as goodwill. Through this year, CN has deducted $74,000 amortization with respect to this goodwill, At the end of the year, CN sold the business for $2,000,000, $250,000 of which was allocable to goodwill. Required: Determine the amount and character of CN 's goin from its sale of goodwill,
The amount and character of CN's gain from the sale of goodwill are $124,000 In this case, goodwill is a capital gain asset, since it was held for more than one year. The gain or loss is calculated by subtracting the sale price of the capital gain asset from its adjusted basis.
Amount realized (sales price) - Adjusted basis = Capital gain or loss Selling price of goodwill = $250,000
This indicates that CN's capital gain on the sale of goodwill is $250,000.
This is computed using the following formula: Sales proceeds - Adjusted cost basis of the goodwill = Capital gain.
Since the goodwill's adjusted cost basis is
[tex]$126,000 (200,000 - 74,000),[/tex]
the capital gain is
[tex]$250,000 - 126,000, or 124,000.[/tex]
Consequently, the amount and character of CN's gain from the sale of goodwill are $124,000, and it is a long-term capital gain.
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Suppose a consumer's utility function is given by U(X,Y)=X
1/2∗
Y
1/2
. Also, the consumer has $24 to spend, and the price of Good X,P
X
=$1. Let Good Y be a "composite" good (Good Y is the "numeraire") whose price is P
Y
=$1. So on the Y-axis, we are graphing the amount of money that the consumer has available to spend on all other goods for any given value of X. a) ( 2 points) How much X and Y should the consumer purchase in order to maximize her utility? b) ( 2 points) How much total utility does the consumer receive? c) ( 2 points) Now suppose P
X
increases to $4. What is the new bundle of X and Y that the consumer will demand? d) ( 2 points) How much additional money would the consumer need in order to have the same utility level after the price change as before the price change? (Note: this amount of additional money is called the Compensating Variation.) Compensating Variation = e) ( 2 points) Of the total change in the quantity demanded of Good X, how much is due to the substitution effect and how much is due to the income effect? (Note: since there is an increase in the price of Good X, these values will be negative). SE= IE= f) (14 points) In the space below, draw on a graph the - original budget constraint (draw this in black) - new budget constraint (draw this in green) - compensated budget constraint (draw this in red) Also, on your graph, indicate the optimal bundle on each budget constraint. - Label the optimal bundle on the original budget constraint X
∗
and Y
∗
- Label the optimal bundle on the new budget constraint X
∗∗
and Y
∗∗
- Label the optimal bundle on the compensated budget constraint X
C
and Yq
The consumer should allocate their budget in a way that sets the MRS equal to the price ratio, which is 1:1. Therefore, [tex]X/Y = 1, or X = Y.[/tex]
a) To maximize utility, the consumer should allocate their $24 between goods X and Y in a way that maximizes their overall satisfaction.
In this case, the utility function is [tex]U(X,Y) = X^(1/2) * Y^(1/2).[/tex]
To find the optimal allocation, we can use the concept of marginal utility.
The marginal utility of [tex]X (MUx)[/tex] is the additional satisfaction gained from consuming an additional unit of X, while the marginal utility of [tex]Y (MUy)[/tex] is the additional satisfaction gained from consuming an additional unit of Y.
Since the price of X is $1 and the price of Y is also $1, the consumer should allocate their budget in a way that equates the marginal utilities of X and Y.
This is known as the marginal rate of substitution (MRS), which is the rate at which the consumer is willing to trade X for Y.
In this case, the MRS is [tex]MUx/MUy = (X^(1/2) * Y^(-1/2)) / (Y^(1/2) * X^(-1/2)) \\= X/Y.[/tex]
The consumer should allocate their budget in a way that sets the MRS equal to the price ratio, which is 1:1.
Therefore, [tex]X/Y = 1, or X = Y.[/tex]
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Account
Take me to the text The following information is taken from the records of Rebel Consulting. Required Do not enter dollar signs or commas in the input boxes. a) Calculate total current liabilities. To
Rebel Consulting records contain the following details on account. To calculate total current liabilities, we need to add all the current liabilities listed in the table.
Total Current Liabilities= Accounts Payable + Accrued Expenses + Wages Payable + Short-term Notes Payable Accounts Payable
= $10,000 + $7,500
= $17,500
Accrued Expenses
= $5,000
Wages Payable
= $2,000
Short-term Notes Payable
= $12,500
Total Current Liabilities
= $17,500 + $5,000 + $2,000 + $12,500
= $37,500
total current liabilities for Rebel Consulting is $37,500.
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Which of the following is true of government-imposed tariffs,
quotas, and other trade barriers?
Group of answer choices
While trade barriers are most likely to result in a decrease in
producer surplus
Trade barriers like government-imposed tariffs, quotas, and other trade barriers are used by the government of a country to restrict imports and increase exports. The government imposes these restrictions on foreign countries in the form of taxes, duties, quotas, and other restrictions on imports to protect the domestic industries from foreign competition.
It has an impact on the producer surplus and consumer surplus. Tariffs and other trade barriers can cause a reduction in the surplus of producers. It is because the higher taxes on imported goods make them expensive and reduce the demand for them. This causes a reduction in the surplus of producers, and they have to reduce the production of goods.Quotas have a similar effect on producer surplus. They limit the amount of a good that can be imported into the country, reducing the supply of goods.
However, trade barriers do not always have a negative effect on producer surplus. In some cases, they can increase the surplus of producers. For example, if a tariff is imposed on a product that has a lower domestic demand, the domestic producers will have an advantage over foreign producers. They will be able to sell their products at a higher price, which will increase their surplus. Therefore, it can be concluded that trade barriers can have both positive and negative impacts on producer surplus.
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A. Give the exceptions to the indoor management rule
B. Discuss the various ways how a company can be wound up
A. Exceptions to indoor management rule is a common law principle which states that the external third party cannot question the internal proceedings of the company.
The following are the exceptions to the rule:Forgery: In case of forgery, any action taken by the company or the board would be void. In such a case, the rule does not apply to the third party.Dubious transaction: Any transaction that was made by the company or board for personal gains or benefits can be questioned by the third party or the shareholders as the transaction was not made in good faith.
Negative impact on public interest: Any decision or action taken by the board of directors, which may cause negative impact on the public interest, can be challenged by the third party or the shareholders. For instance, if a company produces hazardous waste and it causes negative impact on the public, then the third party or shareholders can challenge the decision of the board.C.
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Which of the following is the most important condition to ensure implementation success? a. Relate all changes to objectives b. There is an unambiguous policy mandating the change c. There is top-management buy-in d. There is organizational support and acceptance for the change e. The environment to under go change is stable
The most important condition to ensure implementation success is c. There is top-management buy-in. Explanation: Having top-management buy-in is crucial because it sets the tone for the entire organization.
When top management supports a change, it sends a clear message to employees that the change is important and necessary. This helps to build trust and commitment among employees, making it more likely that they will embrace and support the implementation process. Top-management buy-in also provides the necessary resources and support for successful implementation. It ensures that the change is given the attention and priority it deserves, and that there is adequate funding, personnel, and infrastructure to support the implementation efforts. Furthermore, top-management buy-in helps to align the change with the organization's strategic objectives. It ensures that the change is in line with the overall goals and direction of the organization, which increases the chances of success. In conclusion, while all the options listed are important, top-management buy-in is the most crucial condition for implementation success. Without it, the other conditions may not be as effective in driving successful change.
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The most important condition to ensure implementation success is There is top-management buy-in. Thus, option C is correct.
When senior management backs a change, it makes it plain to workers that the change is crucial and required. Employee commitment and trust are increased as a result, increasing the likelihood that they will embrace and support the implementation process.
A successful deployment also requires the resources and backing of top management. It guarantees that the change has the focus and importance it needs and that there is sufficient infrastructure, staffing, and funds to support the implementation activities. Additionally, support from high management facilitates alignment of the change with organizational strategic goals. The likelihood of success is increased since it makes sure the change is in accordance with the organization's overarching objectives and strategic direction.
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When population increases and the number of firms producing a good also increases:
a. The equilibrium price drops, and the equilibrium quantity increases.
b. The equilibrium price rises, and the equilibrium quantity drops.
c. There is no change in the equilibrium price.
d. We lack information on the sizes of the relative shifts, and therefore can only determine the
direction of the new equilibrium quantity, but not price.
When population increases and the number of firms producing a good also increases, the answer is option (c) there is no change in the equilibrium price.
Equilibrium price is the price at which the quantity of a good demanded by buyers is equal to the quantity produced by sellers. The market equilibrium is the point where the quantity demanded equals the quantity supplied. It is the point where the demand and supply curves intersect.
In the given scenario, the population has increased and the number of firms producing a good has also increased. This means that the demand for the good has increased but the supply has also increased proportionately. Since both the demand and supply have increased by the same proportion, there will be no change in the equilibrium price. Hence, the correct option is option (c) there is no change in the equilibrium price.
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Why is the carrying value of the investments in this liabilities
section increased significantly? Does it have to do with adjustment
to bond payable accounts? This is Ford Motor most recent
10-K.
The carrying value of investments in the liabilities section of Ford Motor's most recent 10-K has increased significantly, which may be attributed to adjustments related to bond payable accounts.
The increase in the carrying value of investments in the liabilities section of Ford Motor's financial statements can be primarily attributed to adjustments related to bond payable accounts. Bonds are a form of long-term debt issued by a company to raise capital. When a company issues bonds, it records a liability for the bond principal amount. Over time, the bond liability is adjusted to reflect changes in market conditions, interest rates, and other factors.
In the case of Ford Motor, it is likely that adjustments to the bond payable accounts have resulted in an increase in the carrying value of investments in the liabilities section. These adjustments can occur due to various reasons, such as changes in interest rates or the company's creditworthiness. For example, if interest rates decrease, the value of existing bonds with higher interest rates increases, leading to an increase in the carrying value of the bond liability.
It's important to note that without specific details from Ford Motor's 10-K, it is difficult to provide a precise explanation for the increase in carrying value. However, adjustments to bond payable accounts are a common factor that can contribute to significant changes in the carrying value of investments in the liabilities section of a company's financial statements.
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The owner of a small pizzeria is deciding whether to increase the radius of delivery by one mile. What considerations must be taken into account if such a decision is to increase profitability?
One of the most critical considerations that the owner of the small pizzeria should take into account when deciding whether to increase the radius of delivery by one mile is the increased cost of transportation and other costs associated with such a move.
This cost may come in the form of increased gasoline consumption, wear and tear on delivery vehicles, and potentially even the need to hire additional delivery drivers. Increased competition is another important consideration that the pizzeria owner must take into account when deciding whether to increase the delivery radius. Depending on the location of the business, there may be other pizza delivery services that are already operating within the new delivery radius. If this is the case, then the owner of the small pizzeria will need to consider the additional competition that they will face and determine whether the increased revenue will offset the additional cost of competition.
The owner will also need to consider the potential for an increase in customer satisfaction and overall demand if the delivery radius is increased. If the small pizzeria is the only pizza delivery service within the new delivery radius, then it is possible that they will see a significant increase in the number of customers who order from them. In addition to this, customers who were previously just outside of the delivery radius may now be able to order from the pizzeria, which could increase customer satisfaction and loyalty overall.
In conclusion, there are many different considerations that the owner of a small pizzeria must take into account when deciding whether to increase the delivery radius by one mile. By analyzing the costs, potential for increased competition, and potential for increased demand, the owner can make an informed decision that will increase profitability and lead to long-term success.
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The funds that support the Recovery Account come from real estate license fees state bond issues interest accruing from trust accounts private donations 68. The Subdivision Map Act establishes a set of procedures that must be followed before a subdivision can be created. It grants the power to control the formation of subdivisions to the Coastal Commission Real Estate Commissioner cities and counties Attorney General
The funds that support the Recovery Account come from various sources. One of these sources is real estate license fees. These fees are collected from individuals who hold a real estate license, and they contribute to the funding of the Recovery Account.
Another source of funds is state bond issues. Additionally, private donations play a role in funding the Recovery Account. Individuals or organizations can choose to donate money to support the account's activities.
Moving on to the second part of the question, the Subdivision Map Act establishes procedures that must be followed before a subdivision can be created. Cities and counties also have the power to control the formation of subdivisions within their jurisdictions. Lastly, the Attorney General may have a role in overseeing and enforcing the provisions of the Subdivision Map Act.
In summary, the funds supporting the Recovery Account come from real estate license fees, state bond issues, interest accruing from trust accounts, and private donations. The power to control the formation of subdivisions is granted to the Coastal Commission, Real Estate Commissioner, cities and counties, and the Attorney General.
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The funds that support the Recovery Account come from various sources. These include real estate license fees, state bond issues, interest accruing from trust accounts, and private donations.
These funds are crucial for supporting the activities and initiatives of the Recovery Account, which is responsible for providing assistance and resources for various recovery efforts. Moving on to the second part of the question, the Subdivision Map Act establishes a set of procedures that must be followed before a subdivision can be created. The act grants the power to control the formation of subdivisions to different entities.
The Coastal Commission plays a role in regulating subdivisions in coastal areas to ensure compliance with environmental regulations and coastal zone policies. The Real Estate Commissioner oversees the compliance of subdivisions with real estate laws and regulations. Cities and counties also have the authority to regulate and approve subdivisions within their jurisdictions. Lastly, the Attorney General has the power to enforce legal requirements related to subdivisions.
Overall, the Recovery Account relies on various sources of funding, while the Subdivision Map Act delegates control over subdivisions to different entities, depending on the specific context.
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Inflation is expected to be 5% next year and a steady 6% each year thereafter. Maturity risk premiums are zero for one-year debt but have an increasing value for longer debt. One-year government debt ylelds 9%, whereas two-year debt yields 11.4%. 1. What is the real risk-free rate for two-year debt? Round your answer to one decimal place and add % sign. 2. What is the maturity risk premium for two-year debt? Round your answer to one decimal place and add % sign. 3. Forecast the nominal yleld on one-year government debt issued at the beginning of the second year. Round your answer to one decimal place and add \% sign. 4. Forecast the nominal yield on two-year government debt issued at the beginning of the second year. Round your answer to one decimal place and add \% sign.
Maturity risk premium refers to the additional compensation or premium that investors demand for taking on the increased risk associated with longer-term investments or bonds compared to shorter-term investments.
1. The real risk-free rate for two-year debt can be calculated using the Fisher equation. The Fisher equation states that the nominal interest rate is equal to the sum of the real risk-free rate and the expected inflation rate. Rearranging the equation, we can find the real risk-free rate.
Given that the expected inflation rate is 5% and the two-year debt yields 11.4%, we can substitute these values into the equation:
11.4% = Real Risk-Free Rate + 5%
Solving for the Real Risk-Free Rate:
Real Risk-Free Rate = 11.4% - 5% = 6.4%
Therefore, the real risk-free rate for two-year debt is 6.4%.
2. The maturity risk premium for two-year debt can be calculated by subtracting the real risk-free rate from the yield on the two-year debt.
Given that the yield on the two-year debt is 11.4% and the real risk-free rate is 6.4%, we can substitute these values into the equation:
Maturity Risk Premium = 11.4% - 6.4% = 5%
Therefore, the maturity risk premium for two-year debt is 5%.
3. To forecast the nominal yield on one-year government debt issued at the beginning of the second year, we can add the expected inflation rate to the current yield on one-year debt.
Given that the expected inflation rate is 5% and the current yield on one-year debt is 9%, we can calculate the forecasted nominal yield:
Nominal Yield = Current Yield + Expected Inflation Rate
Nominal Yield = 9% + 5% = 14%
Therefore, the forecasted nominal yield on one-year government debt issued at the beginning of the second year is 14%.
4. To forecast the nominal yield on two-year government debt issued at the beginning of the second year, we can add the expected inflation rate to the yield on two-year debt.
Given that the expected inflation rate is 5% and the yield on two-year debt is 11.4%, we can calculate the forecasted nominal yield:
Nominal Yield = Yield on Two-Year Debt + Expected Inflation Rate
Nominal Yield = 11.4% + 5% = 16.4%
Therefore, the forecasted nominal yield on two-year government debt issued at the beginning of the second year is 16.4%.
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UNM Hospital consumes 20800 boxes of bandages per year. The cost of bandages is $80 per box. The fixed cost of processing an order is $64, and the cost of holding one box throughout a full year is 20% of the value of the material.
Flag question: Question 16
Question 162 pts
(2 points) What is the economic order quantity for this product?
Group of answer choices
2942
82
260
408
Flag question: Question 17
Question 171 pts
What are the total number of orders per year?
Group of answer choices
80
51
7
254
Flag question: Question 18
Question 181 pts
How many days are between orders?
Group of answer choices
1.4
7.1
51.6
4.6
- The economic order quantity for this product is approximately 408 boxes.
- The total number of orders per year is approximately 51.
- The number of days between orders is approximately 7.1.
To find the economic order quantity (EOQ), we can use the formula:
EOQ = √[(2 * Demand * Fixed Cost) / Holding Cost]
Given the following information:
- Demand (D) = 20800 boxes per year
- Fixed Cost (K) = $64
- Holding Cost (H) = 20% of the value of the material, which is 0.20 * $80 = $16
Plugging these values into the formula, we have:
EOQ = √[(2 * 20800 * 64) / 16]
Simplifying further:
EOQ = √[(2 * 1331200) / 16]
EOQ = √[166400]
EOQ ≈ 408
Therefore, the economic order quantity for this product is approximately 408 boxes.
Moving on to the next question, to find the total number of orders per year, we can use the formula:
Total Orders = Demand / EOQ
Using the given demand of 20800 boxes per year and the calculated EOQ of 408 boxes, we have:
Total Orders = 20800 / 408
Total Orders ≈ 51
Therefore, the total number of orders per year is approximately 51.
Lastly, to determine the number of days between orders, we can use the formula:
Days Between Orders = 365 / Total Orders
Using the previously calculated total orders of 51, we have:
Days Between Orders = 365 / 51
Days Between Orders ≈ 7.1
Therefore, the number of days between orders is approximately 7.1.
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shorter product life cycles are common in industries characterized by low level of competition. true or false
False. Shorter product life cycles are not common in industries characterized by a low level of competition.
In reality, shorter product life cycles are more commonly observed in industries characterized by a high level of competition. When competition is intense, companies constantly strive to innovate and introduce new products to gain a competitive advantage. As a result, product life cycles tend to be shorter, as newer and better products replace older ones more rapidly.
In industries with low competition, companies may not face the same pressure to innovate and introduce new products. They may enjoy a more stable market environment with less disruptive changes. Consequently, product life cycles in these industries are often longer, with products remaining relevant and profitable for a longer period.
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what are the portfolio weights for a portfolio that has 200 shares of stock a that sell for $97 per share and 175 shares of stock b that sell for $134 per share?
The portfolio weight for stock A is approximately 45.2%, and the portfolio weight for stock B is approximately 54.8%.
To calculate the portfolio weights, we need to determine the proportion of the total value that each stock represents in the portfolio. The portfolio weight for each stock is calculated by dividing the value of each stock by the total value of the portfolio.
Let's calculate the value of each stock:
Value of stock A = Number of shares of stock A × Price per share of stock A
= 200 shares × $97 per share
= $19,400
Value of stock B = Number of shares of stock B × Price per share of stock B
= 175 shares × $134 per share
= $23,450
Next, we calculate the total value of the portfolio by adding the values of stock A and stock B:
Total value of the portfolio = Value of stock A + Value of stock B
= $19,400 + $23,450
= $42,850
Finally, we can calculate the portfolio weights for each stock by dividing the value of each stock by the total value of the portfolio:
Weight of stock A = Value of stock A / Total value of the portfolio
= $19,400 / $42,850
≈ 0.452 or 45.2%
Weight of stock B = Value of stock B / Total value of the portfolio
= $23,450 / $42,850
≈ 0.548 or 54.8%
Therefore, the portfolio weight for stock A is approximately 45.2%, and the portfolio weight for stock B is approximately 54.8%.
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a company is considering opening a new product line. the building being considered will havea monthly lease and utility payment of $4500. two employees will be hired at $20/hr/employee. each employee will work 120 hrs per month. the average revenue per unitproduct sold is estimated at $ 75. the variable cost of production of each unit is estimatedat $50. ( 4 pts )a) how many units must be produced each month for the business to break even?b) how many units must be produced monthly to achieve a monthly profit of $50,000?
To break even, the company needs to produce a certain number of units each month and to achieve a monthly profit of $50,000, a different number of units must be produced.
a) To determine the break-even point, we need to find the number of units that will cover all the fixed costs and variable costs.
Fixed costs per month:
Lease and utility payment = $4,500
Variable costs per unit:
Production cost = $50
Contribution margin per unit:
Revenue per unit - Variable cost per unit = $75 - $50 = $25
To cover the fixed costs, the number of units required can be calculated as:
Break-even units = Fixed costs / Contribution margin per unit
Break-even units = $4,500 / $25 = 180 units
Therefore, the company needs to produce at least 180 units each month to break even.
b) To achieve a monthly profit of $50,000, we need to calculate the additional units needed to cover the profit.
Total profit = Profit per unit × Number of units
Let's assume x represents the additional units needed.
Profit per unit = Revenue per unit - Variable cost per unit = $75 - $50 = $25
Total profit = $50,000
Profit per unit × (Number of units + x) = $50,000
$25 × (180 + x) = $50,000
Solving for x:
25(180 + x) = 50,000
4,500 + 25x = 50,000
25x = 50,000 - 4,500
25x = 45,500
x = 1,820
Therefore, to achieve a monthly profit of $50,000, the company needs to produce 1,820 additional units, resulting in a total of 2,000 units.
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et Cash Flow From Operating Activities
Verna Company's records provided the following information for 2019:
decrease in accounts payable, $5,000
loss on sale of land, $1,000
increase in inventory, $7,000
increase in income taxes payable, $2,200
net income, $67,500
patent amortization expense, $1,500
ordinary loss, $6,400
decrease in deferred taxes payable, $2,100
amortization of discount on bonds payable, $1,600
payment of cash dividends, $20,000
depletion expense, $5,200
decrease in salaries payable, $1,100
decrease in accounts receivable, $3,600
gain on sale of equipment, $6,500
proceeds from issuance of stock, $58,000
ordinary gain, $3,500
depreciation expense, $15,000
amortization of discount on investment in bonds, $1,800
Required
Prepare the operating activities section of Verna's 2019 statement of cash flows using the indirect method. Use a minus sign to indicate cash outflows or decreases in cash.
The operating activities section of Verna Company's 2019 statement of cash flows, prepared using the indirect method, shows a net cash provided by operating activities of $82,900.
Net Income: $67,500
Adjustments for non-cash items:
Depreciation Expense: $15,000
Amortization Expense: $1,500
Depletion Expense: $5,200
Loss on Sale of Land: $1,000
Ordinary Loss: $6,400
Gain on Sale of Equipment: ($6,500) [negative sign indicates a gain]
Amortization of Discount on Bonds Payable: $1,600
Amortization of Discount on Investment in Bonds: $1,800
Changes in working capital:
Increase in Inventory: ($7,000) [negative sign indicates an increase]
Decrease in Accounts Receivable: $3,600
Decrease in Accounts Payable: ($5,000) [negative sign indicates a decrease]
Decrease in Salaries Payable: ($1,100) [negative sign indicates a decrease]
Increase in Income Taxes Payable: $2,200
Decrease in Deferred Taxes Payable: ($2,100) [negative sign indicates a decrease]
Net Cash Provided by Operating Activities: $82,900
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Answer the questions with information on Exxon Mobil Corp's (XOM) December 31, 2016 10-K Consolidated Balance Sheet use the Interactive Filing. a. Hover over the Deferred income tax liabilities account. This account is "Amount, after deferred tax asset, of deferred tax liability attributable to taxable differences, with jurisdictional netting and classified as": b. Deferred income tax liabilities on Dec. 31, 2016 was:
a) Hover over the Deferred income tax liabilities account. This account is "Amount, after deferred tax asset, of deferred tax liability attributable to taxable differences, with jurisdictional netting and classified as " Other non-current liabilities".
b) Deferred income tax liabilities on December 31, 2016, was $31,532 million.
The financial statements of ExxonMobil Corp. and its subsidiaries are presented in its annual report known as the 10-K. The 10-K contains a detailed analysis of the company's performance, financial statements, and other relevant information about the company. The financial statements of ExxonMobil Corp. can be accessed through the Interactive Filing provided by the Securities and Exchange Commission (SEC).
To access the financial statements of ExxonMobil Corp., one must follow the following steps:
Visit the SEC's website at www.sec.gov.In the 'Search for Company Filings' section, enter ExxonMobil Corp's ticker symbol 'XOM' and click on 'Search'.
Click on the first result that appears under 'Company Filings'. Click on 'Interactive Data'.Select the financial statements for the year 2016.Click on the 'Consolidated Balance Sheet' to access the balance sheet for the year ended December 31, 2016.Hover over the Deferred income tax liabilities account.
This account is "Amount, after deferred tax asset, of deferred tax liability attributable to taxable differences, with jurisdictional netting and classified as" Other non-current liabilities".
Therefore, the answer to part (a) is "Other non-current liabilities." The answer to part (b) is $31,532 million.
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What amount did Tamarisk Incis trialbalance chowas total credits?
Trial balance shows the debit and credit balances of all the accounts of a company, which can then be used to prepare financial statements. In this case, the question is asking for the total credits of Tamarisk Inc's trial balance.
Now, let's get back to the question at hand. Since we don't know the total debits of Tamarisk Inc's trial balance, we can't calculate the total credits by subtracting from the total debits.
However, we can still provide a response by giving an example of what the total credits could be.
Let's say Tamarisk Inc has the following accounts and balances in their trial balance:
Accounts Payable: $5,000
Accounts Receivable: $7,500
Cash: $2,000
Inventory: $3,000
Notes Payable: $4,000
Sales Revenue: $10,000
Wages Expense: $2,500
Total debits: $17,500
Total credits: $17,500
In this example, the total credits of Tamarisk Inc's trial balance is $17,500. However, without more information about the specific accounts and balances of Tamarisk Inc, we can't provide an exact answer to the question.
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Consider the statement: "Interest rates must change when the Fed increases the amount of reserves it holds." This statement was true before 2008, but isn't true today was true before 2008 and is still
The statement "Interest rates must change when the Fed increases the amount of reserves it holds" was considered to be true before 2008, but it is no longer true today.
The reason is that before 2008, the banking system was characterized by excess reserves, meaning banks held far more reserves than required by regulation. As a result, an increase in reserves would lower the interbank lending rate, prompting a decline in other short-term interest rates. However, the financial crisis of 2008 caused a significant change in the banking system. Banks started holding reserves at the Federal Reserve, instead of lending them out to each other. This means that when the Fed increases the amount of reserves it holds, it does not necessarily lead to a change in interest rates because banks are not using those reserves to make loans.
Consequently, the relationship between the reserves and interest rates is no longer stable, as it was before the financial crisis of 2008. Today, the Federal Reserve mainly uses other monetary policy tools, such as forward guidance and quantitative easing, to control interest rates and support economic growth.
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Identify a clear biblical connection to the "Price Earnings Ratio" (or explain how this finance concept contradicts biblical principles). Keep your answer to no more than 100 words! Be sure to provide a scripture reference, without a valid scriptural citation, you cannot get all 3 points.
The "Price Earnings Ratio" (P/E ratio) is a finance concept that measures the relative value of a company's stock. It is calculated by dividing the market price per share by the earnings per share. While the Bible does not directly mention the P/E ratio, we can examine biblical principles related to finance.
One biblical principle is stewardship, which emphasizes responsible management of resources. The P/E ratio can help investors make wise financial decisions by assessing the value and potential profitability of a company's stock.
Another principle is honesty and integrity. The P/E ratio relies on accurate financial reporting, and companies should provide transparent and honest information to shareholders. Proverbs 11:1 says, "Dishonest scales are an abomination to the LORD, but a just weight is his delight."
However, it is important to note that the P/E ratio should not be the sole factor in investment decisions. Proverbs 21:5 advises, "The plans of the diligent lead surely to abundance, but everyone who is hasty comes only to poverty." Therefore, investors should also consider other financial indicators and seek wise counsel.
In conclusion, the P/E ratio aligns with biblical principles of stewardship and integrity. It can be a useful tool in assessing investment opportunities, but it should be used in conjunction with other factors.
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A planned budget is often referred to as a(an): favorable budget unfavorable budget static planning budget actual activity bedget
A planned budget is often referred to as a static planning budget. It is also referred to as the master budget.
A static budget is a budget prepared for a specific period or a particular level of activity that remains unchanged despite any changes in actual volume or activity.It provides the expected income and expenses of a company over a given period based on estimates and forecasts. It is usually used as a benchmark against which the actual results are measured at the end of the period, thereby enabling management to take corrective actions where necessary to keep the actual performance on track with the planned performance.The key features of a static budget are that it is not flexible to changes in the level of activity and does not provide any feedback on the reasons for variances.
In conclusion, a planned budget is referred to as a static planning budget, which is a budget prepared for a specific period or a particular level of activity that remains unchanged despite any changes in actual volume or activity.
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TOPIC: Labor
What expense associated with labor includes things like
unemployment taxes, worker’s compensation, insurance and retirement
contributions? What is its usual percentage of total
sales?
The expense associated with labor that includes items like unemployment taxes, worker's compensation, insurance, and retirement contributions is commonly known as "employee benefits" or "benefits costs."
These costs represent the additional expenses incurred by employers beyond the basic wages or salaries paid to employees. Employee benefits typically encompass a range of offerings, such as health insurance, dental insurance, life insurance, disability insurance, retirement plans (e.g., 401(k)), paid time off (vacation, sick leave), and various other benefits specific to the organization or industry.
The usual percentage of total sales allocated to employee benefits can vary depending on factors such as industry norms, company size, and benefit packages provided. While there is no fixed rule, a common range is approximately 15% to 30% of total labor costs or payroll expenses. However, it's important to note that this percentage can significantly vary depending on the specific circumstances of each organization.
Employers carefully assess their financial resources and workforce needs to determine an appropriate level of investment in employee benefits, seeking to strike a balance between attracting and retaining talent while managing costs effectively.
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Discuss the list of external and internal stakeholders of the chosen Company and discuss their impact on organisational strategy in future Also tabulate their needs and expectations AssessmentCriteria
The external and internal stakeholders of a company have a significant impact on its organizational strategy. Understanding their needs and expectations is crucial for developing effective strategies that align with the company's goals and the broader business environment. By considering the interests of these stakeholders, a company can build strong relationships, enhance its reputation, and achieve long-term success.
The list of external stakeholders of a company typically includes customers, suppliers, competitors, government agencies, and the general public. Internal stakeholders, on the other hand, are individuals or groups within the company itself, such as employees, managers, and shareholders.
External stakeholders play a significant role in shaping the organizational strategy of a company. Here are a few examples:
1. Customers: They are crucial for any business as they provide the revenue necessary for its survival. Their needs and expectations can drive product development, marketing strategies, and customer service initiatives. For example, if customers demand more environmentally friendly products, the company may need to invest in sustainable practices.
2. Suppliers: These are the entities that provide goods or services to the company. They can influence the availability, cost, and quality of inputs, impacting the company's overall operations and profitability. For instance, if a supplier experiences production issues, it may affect the company's ability to deliver products on time.
3. Competitors: Understanding competitors is vital for strategic planning. By analyzing their strengths, weaknesses, and market share, a company can identify areas for improvement or potential opportunities. For example, if a competitor introduces a new and successful product, the company may need to adjust its own offerings to stay competitive.
4. Government agencies: Regulations and policies set by government agencies can directly impact a company's operations. Compliance with laws related to labor, health and safety, environment, and taxes is essential. Changes in regulations can necessitate adjustments in business practices and resource allocation.
Internal stakeholders also have a significant impact on organizational strategy:
1. Employees: They are the backbone of any organization and contribute to its success. Their skills, knowledge, and motivation shape the company's ability to achieve its objectives. Employee engagement, training programs, and a positive work culture are essential to maximize their potential.
2. Managers: They are responsible for decision-making, goal-setting, and implementing strategies. Managers need to align the company's objectives with the needs and expectations of various stakeholders. Effective communication and leadership skills are crucial for managing internal stakeholders.
3. Shareholders: They are the owners of the company and have a financial interest in its performance. Their expectations revolve around profitability, growth, and return on investment. Shareholders may influence strategic decisions through voting rights and expectations of dividends.
In summary, the external and internal stakeholders of a company have a significant impact on its organizational strategy. Understanding their needs and expectations is crucial for developing effective strategies that align with the company's goals and the broader business environment. By considering the interests of these stakeholders, a company can build strong relationships, enhance its reputation, and achieve long-term success.
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