The Night Owl Restaurant's Kobe beef burger is one of the most popular menu items with a price of $13. The restaurant generates $1,000,000 in monthly sales with variable costs of 35%. Let's calculate the contribution margin per burger and the number of burgers required to cover $10,000 in fixed costs per month.
To start, we'll calculate the contribution margin per burger, which is the amount that each burger contributes to covering fixed costs and generating a profit.
Contribution margin = Price per burger - Variable cost per burgerContribution margin = $13 - ($13 x 0.35)Contribution margin = $8.45Therefore, the contribution margin per burger is $8.45.Now, we'll figure out how many burgers the Night Owl Restaurant needs to sell in order to cover their fixed costs.
Fixed costs = $10,000Contribution margin per burger = $8.45Number of burgers required = Fixed costs / Contribution margin per burgerNumber of burgers required = $10,000 / $8.45 Number of burgers required = 1,183.43 burgers (rounded up to the nearest whole burger)Therefore, the Night Owl Restaurant needs to sell 1,184 Kobe beef burgers per month to cover $10,000 in fixed costs.
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Strategic planning serves several purposes, including defining an organization’s identity, preparing for the future, analyzing the environment, providing focus, creating a culture of cooperation, generating new options, and serving as a guide for the daily activities of all organizational members.
Performance management tools must rely on the strategic plan to be useful. The behaviors, results, and developmental plans of all employees must be aligned with the vision, mission, goals, and strategies of the organization and unit.
For the purpose of this assignment, discuss the following:
Identify an international company and evaluate their organizational strategy. This can be done by reading about their vision, mission, and goals.
Research the various performance management tools available in the open market and then list at least two different performance tools that can be used to effectively evaluate employee performance.
Briefly describe the strengths and weaknesses of each of your chosen performance tools. How do the performance tools that you’ve chosen allow for employees to receive feedback on their performance, as well as ensure that the employee’s work and job behaviors are directly aligned with the organization’s strategy?
An international company's organizational strategy is evaluated by researching its vision, mission, and objectives and then analyzing it. Performance management systems must rely on the strategic plan to be efficient.
A performance management system is a tool used by businesses to assess employee job efficiency. These tools are critical to the organization's success because they help to recognize the strengths and weaknesses of employees and promote development in areas where it is necessary. Performance management tools that can be used to effectively assess employee performance are 360-Degree Feedback and Management By Objectives. The 360-degree feedback approach entails collecting feedback from all levels of an organization on an employee's work behavior and performance, including managers, co-workers, subordinates, and the employee themselves.
However, because it is highly dependent on feedback from others, it may not always be a reliable indicator of an employee's actual performance. Additionally, the feedback can be challenging for some people to hear, leading to defensiveness or hostility.
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This objective is correct because:
a. Job title, full time, skills, company, value added are shown
b. Job title, full time, skills and value added are shown
c. Job title, company, and value added are shown
d. Job title, company, and skills are shown
The correct answer is option C: Job title, company, and value added are shown.
The given objective and determining which components are included. Let's break down each option to determine which one accurately represents the objective:
a. Job title, full time, skills, company, value added are shown
This option includes additional information beyond the objective. Full-time and skills are not mentioned in the original statement, so option a is incorrect.
b. Job title, full time, skills, and value added are shown
Similar to option a, this option includes information not mentioned in the objective. Full-time is not included, so option b is incorrect.
c. Job title, company, and value added are shown
This option accurately represents the objective, as it includes only the components mentioned in the statement. Job title, company, and value added are all mentioned, making option c the correct answer.
d. Job title, company, and skills are shown
Option d does not include the value added component mentioned in the objective, so it is incorrect.
Therefore, the correct answer is option C: Job title, company, and value added are shown.
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9. The collection of a $1,200 account after the 2 percent discount period will result in a Ila. debit to Cash for $1,176. b. credit to Accounts Receivable for $1,200. c. credit to Cash for $1,200. d. debit to Sales Discounts for $24. 10. A credit sale of $3,600 is made on July 15 , terms 3/10,n/30, on which a return of $100 is granted on July 18 . What amount is received as payment in full on July 24 ? a. $3,395 b. $3,492 c. $3,392 d $3,600
9. The collection of a $1,200 account after the 2 percent discount period will result in a:
b. credit to Accounts Receivable for $1,200.
- When the customer pays after the discount period, the full amount of the account is collected.
- Since the account was originally recorded as a debit to Accounts Receivable, we need to reduce the balance in the Accounts Receivable account.
- To do this, we credit Accounts Receivable for the full amount of $1,200.
Therefore, the correct answer is b. credit to Accounts Receivable for $1,200.
10. A credit sale of $3,600 is made on July 15, terms 3/10, n/30, on which a return of $100 is granted on July 18. The amount received as payment in full on July 24 is:
a. $3,395.
- The credit sale amount is $3,600, and the terms are 3/10, n/30. This means that the customer is eligible for a 3% discount if payment is made within 10 days.
- A return of $100 is granted on July 18, which reduces the total amount to be paid.
- To calculate the amount received on July 24, we subtract the return amount from the original sale amount and then apply the discount if payment is made within 10 days.
- $3,600 - $100 = $3,500 (amount to be paid after the return)
- If payment is made within 10 days, the discount is applied. 3% of $3,500 is $105.
- $3,500 - $105 = $3,395 (amount received as payment in full on July 24).
Therefore, the correct answer is a. $3,395.
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Assume that there are ten identical firms producing printers. The supply curve for each firm is given by the following: "p=20+4q". The market supply curve is given by: P=−Q+20 Find the missing number, round your answer to two decimal places
Given:Ten identical firms are producing printers.The supply curve for each firm is given by:p = 20 + 4qThe market supply curve is given by:P = −Q + 20To find:We need to find the missing number of the market supply curve.
Solution:We know that the market supply curve equation is:P = −Q + 20The market supply curve equation is derived by adding up the supply curves of all the firms in the market.
The equation for the supply curve of each firm is:p = 20 + 4qThus, we can derive the equation of the market supply curve as follows:P = p1 + p2 + p3 + ... + pn... + p10where p1, p2, p3, ... , pn are the supply curves of the 10 firms in the market.P = (20 + 4q) + (20 + 4q) + (20 + 4q) + ... + (20 + 4q)
[Adding the supply curve of all 10 firms]P = 20 + 20 + 20 + ... + 20 + 4q + 4q + 4q + ... + 4qP = 20 × 10 + 4q × 10P
= 200 + 40qNow we can substitute the value of P in the market supply curve equation:P = −Q + 20200 + 40q = −Q + 20Simplifying the above equation, we get:Q = 20 − 40qQ + 40q
= 20Q(1 + 40)
= 20Q
= 20/41≈ 0.49Rounding off the answer to two decimal places,
we get Q = 0.49.
Hence, the missing number of the market supply curve is 0.49.
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Cancico Communications has supplied the following data for use in its \( A B C \) system: During the year, Cancico Communications completed an order for special telephone equipment for a new customer.
Cancico Communications has supplied the following data for use in its ABC system: During the year, Cancico Communications completed an order for special telephone equipment for a new customer.
In communications, it is important to ensure that all communication is clear, concise, and delivered with appropriate timing and tone.Communications can be improved through proper planning and execution, as well as by utilizing the appropriate tools and technologies. To effectively communicate with customers, it is important to listen actively, ask questions, and provide clear and concise answers.Communicating with customers is crucial for any business, and it is important to do so in a professional manner. Effective communication with customers can lead to increased customer satisfaction, loyalty, and business growth. Additionally, it is important to communicate with customers in a timely manner, whether it be in person, over the phone, or through email.
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Mr. Ray is a 28-year-old construction worker who is before the Court for theft and Disorderly conduct.
He was arrested after attending at his worksite intoxicated and cursing on the site. It was then revealed by a Supervisor that it is believed Mr. Ray took a bag of chisels of different sizes valued at $65.00. He however denied their accusations. The supervisor says he does not attend work regularly owing to his drinking, however, he is highly skilled and at times they need him to do various tasks.
When the police conducted the search of his home, one chisel was found. The supervisor identified it as one of the set.
Mr. Ray has two convictions for DUI and one for Harassment of his partner five years ago. He previously participated in the DUI programme.
Short Answer Questions:
1. Give seven important steps taken in the ODPP and the Court.
2.. What sentence you would give?
3. What are the aggravating factors?
4. Would the sentences be consecutive or concurrent?
The important steps in the ODPP and the Court involve evidence gathering, arrest and charging, investigation, legal representation, pre-trial proceedings, trial, and verdict and sentencing.
1. The important steps taken in the ODPP (Office of the Director of Public Prosecutions) and the Court in this case would include:
a. Gathering evidence: The police would collect evidence from the worksite, such as witness statements and any surveillance footage, to support the charges of theft and disorderly conduct.
b. Arrest and charging: Mr. Ray would be arrested based on the evidence gathered, and charges would be formally filed against him.
c. Investigation: The police would investigate further, including searching Mr. Ray's home, to gather more evidence related to the charges.
d. Legal representation: Mr. Ray would be given an opportunity to seek legal representation to defend himself in court.
e. Pre-trial proceedings: There may be pre-trial hearings where evidence is presented and legal arguments are made.
f. Trial: A trial would take place where both the prosecution and defense present their case, including witness testimonies and evidence.
g. Verdict and sentencing: After considering the evidence and arguments, the judge or jury would deliver a verdict and, if guilty, impose a sentence.
2. The sentence that would be given depends on various factors, such as the specific laws in the jurisdiction, the severity of the offenses, Mr. Ray's criminal history, and any mitigating or aggravating factors. Without more information, it is not possible to determine the specific sentence. However, potential sentences for theft and disorderly conduct could range from fines, probation, community service, or even imprisonment.
3. Aggravating factors are circumstances that increase the seriousness of an offense. In this case, aggravating factors could include Mr. Ray's previous convictions for DUI and harassment, which demonstrate a pattern of behavior, and the supervisor's statement about his irregular attendance due to drinking. These factors could be considered during sentencing to potentially lead to a more severe punishment.
4. Whether the sentences would be consecutive or concurrent would depend on the jurisdiction's laws and the judge's discretion. Consecutive sentences would be served one after the other, while concurrent sentences would be served simultaneously. Given that there are multiple charges involved, it is possible that the sentences could be either consecutive or concurrent, depending on the judge's decision.
The specific sentence would depend on various factors, including the severity of the offenses and Mr. Ray's criminal history. Aggravating factors in this case include Mr. Ray's previous convictions and his irregular attendance due to drinking.
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. a company anticipates selling 1,000 units of its product at a uniform rate over the next year. each time the company places an order for x units, it is charged a flat fee of $240. carrying costs are $300 per unit per year. how many times should the company reorder each year and what should be the lot size of each order to minimize inventory costs.
The eoq is 40 units.to determine the number of times the company should reorder, we divide the annual demand by the eoq:
number of orders = annual demand / eoq
number of orders = 1,000 / 40
number of orders = 25
thus, the company should reorder 25 times per year.
The company should reorder 4 times per year with a lot size of 250 units to minimize inventory costs.
to determine the optimal number of times the company should reorder and the lot size for each order, we can use the economic order quantity (eoq) formula. the eoq formula is used to minimize inventory costs by balancing the ordering costs and carrying costs.
given:
- anticipated annual demand: 1,000 units
- ordering cost per order: $240
- carrying cost per unit per year: $300
using the eoq formula:
eoq = sqrt((2 * annual demand * ordering cost) / carrying cost per unit)
substituting the given values:
eoq = sqrt((2 * 1,000 * $240) / $300)
eoq = sqrt((480,000) / $300)
eoq = sqrt(1,600) to calculate the lot size for each order, we divide the annual demand by the number of orders:
lot size = annual demand / number of orders
lot size = 1,000 / 25
lot size = 40 units
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SOLVE ALL OF THEN EVERYONE
1)What variables need to be present (internally and externally) for proper engagement and execution of mental processes during the critical/sensitive periods?
2)What is the cognitivism learning theory?
3. What are some indications that an individual has completed their critical period successfully?
4. What are a few indication that an individual has completed their critical period unsuccessfully/incorrectly?
1. Variables required for proper engagement and execution of mental processes during the critical/sensitive periods
Critical periods refer to specific time periods in an individual's development when certain skills and abilities are most easily developed. To properly engage and execute mental processes during the critical/sensitive periods, some internal and external variables are necessary.
Internally, neural connections and plasticity are required. During the early years of life, the brain is incredibly plastic and can make new neural connections easily. External variables such as a nurturing environment, appropriate social interaction, nutrition, and sensory stimulation are also necessary. When an infant is given an enriched environment, it leads to a better development of cognitive functions in the future.
2. The cognitivism learning theory
Cognitivism is a learning theory that suggests that learning is a mental process that involves the acquisition, retention, and application of knowledge. It is focused on how people think, learn, and remember information. Cognitivism stresses the importance of perception, attention, memory, and thought processes, rather than just focusing on behavior.Cognitivism proposes that learning occurs as a result of the interaction between the learner and the environment. The learner must first process and interpret the information received through sensory input and then make sense of it.
3. Indications that an individual has completed their critical period successfully
When an individual has completed their critical period successfully, they would have mastered a specific skill or ability. They would have an increased capacity to learn that is influenced by genetics, the environment, and past experiences. They would have better neural connectivity and plasticity that allows them to learn and process information faster and easier than before.
4. Indications that an individual has completed their critical period unsuccessfully/incorrectly
If an individual has completed their critical period unsuccessfully/incorrectly, it could lead to lifelong developmental issues. The neural connections in their brain may not have developed appropriately, resulting in deficiencies in the affected areas. This may lead to learning difficulties, developmental delays, or mental health issues. Individuals who have missed their critical periods for speech and language development, for example, may have difficulties communicating. In summary, appropriate neural connections, a nurturing environment, and an enriched environment are necessary for proper engagement and execution of mental processes during the critical/sensitive periods.
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A 21-year-old songwriter signed a contract in 1966 with a music publisher. The standard-form contract assigned the copyrights of all the plaintiff’s output to the defendant company in return for the defendant’s agreement to pay 50 percent of the net royalties to the plaintiff. The contract was to run for five years, with automatic renewal for another five years if the plaintiff’s royalties during the first term exceeded 5,000 pounds sterling. The defendant company could terminate the contract on one month’s notice and could assign the contract and any copyrights held under it without the plaintiff’s consent. For signing the contract, the plaintiff received 50 pounds as an advance against future royalties. The plaintiff became a successful songwriter and sought to be released from the contract on the ground that it was unconscionably one-sided in the music publisher’s favor. Macaulay v. Schroeder Publishing Co. Ltd. (1974) 1 W.L.R. 1308 (H.L.). Use economics to analyze this case.
Furthermore, the publisher had a significant amount of bargaining power over the songwriter, which gave them an undue advantage in negotiating the terms of the contract.
The contract was to last for five years, with the option for automatic renewal for another five years if the plaintiff's royalties during the first term exceeded 5,000 pounds sterling. The defendant company could terminate the contract on one month's notice and could assign the contract and any copyrights held under it without the plaintiff's consent.
For signing the contract, the plaintiff received 50 pounds as an advance against future royalties. However, the plaintiff became a successful songwriter and sought to be released from the contract on the grounds that it was unconscionably one-sided in the music publisher's favor.
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Your company just signed a 3-year lease for $10K/mth with the
first 6 months of rent free. What is the monthly rent expense for
the Company?
Monthly rent expense refers to the cost incurred by a company for renting or leasing a property or space on a monthly basis. The answer is $8333.33.
Given the company has signed a 3-year lease for $10,000/month, with the first 6 months rent-free. Therefore, we need to find the monthly rent expense for the Company.
Since the first 6 months of rent are free.
Therefore, the company will only pay rent for (36-6)= 30 months.
Monthly rent expense for the Company= ($10,000 × 30)/36
= $8333.33
Hence, the monthly rent expense for the Company is $8333.33.
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Kevin Durant is an NBA player for the Brooklyn Nets. In the summer of 2022 he asked to be traded to another NBA team. Although Durant has a 4 year contact with the Nets, they agreed to work on a trade. Which of the following is true?
He cannot be traded because he has a contract with the Nets.. which prohibits players from being traded.
He has a contract with the Net and they are his agents. They will help him find another team.
O Durant's agent will negotiate a new deal with the Nets to help assure that Durant won't leave the team.
O Kevin Duran'ts agent will seek a new contract with a new team on behalf of Durant. However, the Nets are not bound to release Durant from his contract with the Nets.
Kevin Durant is an NBA player for the Brooklyn Nets. In the summer of 2022, he asked to be traded to another NBA team. Although Durant has a 4-year contract with the Nets, they agreed to work on a trade. Kevin Durant's agent will seek a new contract with a new team on behalf of Durant.
However, the Nets are not bound to release Durant from his contract with the Nets.Therefore, the correct answer is option D - Kevin Durant's agent will seek a new contract with a new team on behalf of Durant. However, the Nets are not bound to release Durant from his contract with the Nets.A player can be traded before the expiry of his contract under certain conditions, but the player has no say in where he is sent. If the player agrees to be traded, it is often on the assumption that he will receive the necessary conditions for his happiness and success with his new team. However, in Durant's case, the Nets are not bound to release Durant from his contract with the Nets, despite Durant's request.
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The projected benefit obligation was $460 million at the beginning of the year and $493 million at the end of the year. Service cost for the year was $31 million. At the end of the year, there were no pension-related other comprehensive income accounts. The actuary's discount rate was 5%
What was the amount of the retiree benefits paid by the trustee?
Retree benefits
million
Therefore, the retiree benefits paid by the trustee is 33 million - 31 million = 2 million.The retiree benefits paid by the trustee can be calculated by considering the change in the projected benefit obligation (PBO) and the service cost for the year.
To calculate the retiree benefits paid, we need to find the change in PBO. The change in PBO is equal to the ending PBO minus the beginning PBO. In this case, the change in PBO is $493 million - $460 million = $33 million.
Next, we subtract the service cost for the year from the change in PBO. The service cost represents the increase in the PBO due to employee service during the year. In this case, the service cost is $31 million.
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Broker Brian is a real estate appraiser and legendary broker. In listing a property, he completes a market analysis to help the seller price the property. In this case, who makes the final decision in setting the listing price?
A) Broker Brian because he is an appraiser and legendary broker
B) The seller because Broker Brian has the duty of Loyalty
C) The seller because Broker Brian has the duty of Obedience
D) The buyer because they will make the offer
The final decision in setting the listing price is The seller because Broker Brian has the duty of Obedience. Option C is the correct answer.
In a real estate transaction, the seller ultimately has the authority to make the final decision in setting the listing price. The broker's role is to provide expert advice and guidance based on their market analysis and appraisal expertise. However, the broker must adhere to their duty of obedience, which means they are required to follow the seller's instructions and decisions regarding the listing price.
While Broker Brian may be an appraiser and a legendary broker, their role is to provide professional input and recommendations to the seller. Ultimately, it is the seller's prerogative to determine the listing price based on various factors such as market conditions, personal goals, and financial considerations. Option C is the correct answer.
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Tata Starbucks: Evaluate Starbucks’ corporate-level and international strategy using
concepts and tools from the course. How have the entries into new geographical markets
created value for the company? What are some critical environmental factors that need to
be considered and analyzed prior to entering a new geographical market? How does the
company respond to any liability of foreignness?
Tata Starbucks is a joint venture between Starbucks and Tata Global Beverages. To evaluate Starbucks' corporate-level and international strategy, we can use concepts and tools from the course.
One aspect of Starbucks' corporate-level strategy is its focus on international expansion. By entering new geographical markets, Starbucks has been able to create value for the company in several ways. Firstly, it has allowed Starbucks to tap into new customer segments and increase its customer base.
Secondly, entering new geographical markets has helped Starbucks diversify its revenue streams. By expanding internationally, Starbucks is not solely dependent on one market, reducing its risk exposure to fluctuations in the domestic market.
Before entering a new geographical market, Starbucks needs to consider and analyze critical environmental factors. These factors include the cultural and social norms of the target market, economic conditions, legal and regulatory requirements, and competition.
When entering a new geographical market, Starbucks also needs to address the liability of foreignness. The liability of foreignness refers to the challenges and disadvantages faced by a foreign company when operating in a new market. Starbucks overcomes this by partnering with local companies, like Tata in India, who have a deep understanding of the local market and can navigate the regulatory and cultural challenges effectively.
In summary, Starbucks' corporate-level and international strategy involve expanding into new geographical markets to create value for the company. This strategy allows Starbucks to tap into new customer segments, diversify its revenue streams, and take advantage of growth opportunities in emerging markets.
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without a calculator or computer, match the functions with their graphs in figure 12.28.
Figure 12.28 shows graphs of the three common functions, namely the quadratic, exponential and sinusoidal functions. A quadratic function is a second-degree polynomial, which means it has an x² term.
It forms a U-shaped graph known as a parabola. When a is positive, the parabola opens upwards, and when it is negative, it opens downwards. For example, the quadratic function f(x) = x² - 4x + 3 has a minimum value of 2, which occurs at x = 1. A function of the form f(x) = ax² + bx + c is a quadratic function if a ≠ 0, where a, b and c are constants.
An exponential function is a function of the form [tex]f(x) = ab^x[/tex], where a and b are constants. It forms a J-shaped graph that increases or decreases rapidly. If b > 1, the function grows exponentially, and if 0 < b < 1, it decays exponentially. For example, the function [tex]f(x) = 2(1.1)^x[/tex] is an exponential function that grows exponentially because 1.1 > 1.
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Use the marginal income tax rates shown here to calculate the average tax rate on an income of $100,000.
Taxable Income Tax rate
$0–$8,700 10%
$8,700–$35,350 15%
$35,350–$85,650 25%
$85,650–$178,650 28%
$178,650–$388,350 33%
Over $388,350 35%
Average tax rate on $100,000 of income is ____________.
a. 21.46%
b. 24.27%
c. 28.00%
The calculated average tax rate is approximately 21.46%. Option A is the correct answer.
To calculate the average tax rate on an income of $100,000, we need to determine the total tax amount paid at each tax bracket and then divide it by the total income.
Let's calculate the average tax rate step by step:
Determine the taxable income within each tax bracket:
$8,700 - $0 = $8,700 (falls into the 10% tax bracket)
$35,350 - $8,700 = $26,650 (falls into the 15% tax bracket)
$85,650 - $35,350 = $50,300 (falls into the 25% tax bracket)
$100,000 - $85,650 = $14,350 (falls into the 28% tax bracket)
Calculate the total tax paid at each tax bracket:
$8,700 * 10% = $870
$26,650 * 15% = $3,997.50
$50,300 * 25% = $12,575
$14,350 * 28% = $4,018
Calculate the total tax paid:
Total tax paid = $870 + $3,997.50 + $12,575 + $4,018 = $21,460.50
Calculate the average tax rate:
Average tax rate = Total tax paid / Total income * 100%
Average tax rate = $21,460.50 / $100,000 * 100%
Calculating the average tax rate:
Average tax rate = $21,460.50 / $100,000 * 100%
The calculated average tax rate is approximately 21.46%. Therefore, the correct answer is option a. 21.46%.
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1. Prepare journal entries to record the following transactions for Sherman Systems. a. Purchased 5,000 shares of its own common stock at \( \$ 25 \) per share on October 11 , b. Sold 1,000 treasury s
The journal entries to record the transactions for Sherman Systems are $1,25,000 and $30,000 for the purchase of own common stock and sale of 1,000 treasury stocks, respectively.
The journal entries to record the transactions for Sherman Systems are:ParticularsDebitCreditPurchase of own common stock at $25 per share on October 11. 1. Cash 1,25,000 2. Treasury Stock 1,25,000 (To record the purchase of own common stock)
Sale of 1,000 treasury stock. 1. Cash 30,000 2. Treasury Stock 22,000 3. Paid-in Capital from Treasury Stock 8,000 (To record the sale of treasury stock) The journal entry to record the purchase of own common stock at $25 per share on October 11 is:Cash AccountDr. $1,25,000. To Treasury Stock Account $1,25,000(To record the purchase of own common stock)
The journal entry to record the sale of 1,000 treasury stock is:Cash AccountDr. $30,000.To Treasury Stock Account $22,000. To Paid-in Capital from Treasury Stock Account$8,000(To record the sale of treasury stock)
Hence, the journal entries to record the transactions for Sherman Systems are $1,25,000 and $30,000 for the purchase of own common stock and sale of 1,000 treasury stocks, respectively.
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You have just purchased a new warehouse. To finance the purchase. you 've arranged for a 39 year mortgage loan for 85 percent of the $3,390,000 purchase price. The monthly payment on this loan will be $17,200. a. What is the APR on this loan? b. What is the EAR on this loan? Prepare an amortization schedule for a three-year loan of $63,000. The interest rate is 10 percent per year, and the loan agreement calls for a principal reduction of $21.000 every year. How much total interest is paid over the life of the loan?
a) APR = 0.10519966 or 10.52 percent (rounded to two decimal places)
b) EAR = 0.110362468 or 11.04 percent (rounded to two decimal places).
a. Calculation of APR on the loan is given as follows:
Interest = P × r × t ... (1)
Here, P = $3,390,000 × 0.85
= $2,881,500
r = APR
t = (39 × 12) months
= 468 months
By substituting the given values in equation (1), we get
Interest = $2,881,500 × r × (468/12) ... (2)
Now, the monthly payment on this loan will be $17,200.
By simplifying the above equation, we get
r = (17,200 × 12) / (2,881,500 × (468/12))
r = 0.008766638
The APR on this loan is as follows:
APR = r × 12
APR = 0.008766638 × 12
APR = 0.10519966 or 10.52 percent.
b. Calculation of EAR on the loan is given as follows:
EAR = (1 + r / m)m - 1
Here,
r = APR
= 0.10519966
m = 12
By substituting the given values in the above equation, we get:
EAR = (1 + 0.10519966 / 12)12 - 1
EAR = 0.110362468 or 11.04 percent.
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Nakashima Gallery had the following petty cash transactions in February of the current year. Nakashima uses the perpetual 5y stem to account for merchandise inventory. February 2 Wrote a 5400 check to establish a petty cash fund. February 5 Purchased paper for the copier for $14.15 that is imediately used. February 9 paid $32,56 shipping charges (transportation-in) on merchandise purchased for resale, terns fob shipping point. These costs are added to merchandise imventory. February 12 Paid 57.95 postage to deliver a contract to a client. February 14 Reímbursed Adina Sharon, the nanager, $68 for mileage on her car. February 20 Purchased office paper for 567.77 that is fimediately used. February 25 Paid a courier $20 to deliver nerchandise sold to a custoner, teras fob destination. February 25 paid $13.10 shipping charges (transportation-in) on merchandise purchased for resale, teres fob shipping point. These costs are added to merchandise inventory. February 27 Paid $54 for postage expenses. February 28 The fund had $120.42 retaining in the petty cashbox, sorted the petty cash receipts by accounts affected and exchanged thee for a check to reimburse the fund for expenditures. February 28 The petty cash fund anount is increased by $100 to a total of $509. Required: 1. Prepare the journal entry to establish the petty cash fund. 2. Prepare a petty cash payments report for February with these categories: dellery expense, mileage expense, postage expense, merchandise imventory (for transportation-in), and office supplies expense. 3. Prepare the journal entries for required 2 to both (a) reimburse and (b) increase the fund amount. Complete this question by entering your answers in the tabs below.
The journal entry to establish the petty cash fund on February 2 is a debit to Petty Cash Fund for $5,400 and a credit to Cash for $5,400. The Petty Cash Fund and crediting Cash for $100.
1. To establish the petty cash fund on February 2, the journal entry would be as follows:
Date | Account | Debit | Credit
---------------------------------------------------------------------
Feb 2 | Petty Cash Fund | $5,400 |
Feb 2 | Cash | | $5,400
- Debit the Petty Cash Fund account with $5,400 to increase its balance.
- Credit the Cash account with $5,400 to decrease its balance.
2. Petty Cash Payments Report for February:
- Delivery Expense: $20 (Courier expense for merchandise delivery)
- Mileage Expense: $68 (Reimbursement for Adina Sharon's car mileage)
- Postage Expense: $57.95 (Postage expenses for delivering a contract)
- Merchandise Inventory (Transportation-in): $32.56 (Shipping charges on purchased merchandise)
- Office Supplies Expense: $567.77 (Purchase of office paper)
3. Journal entries to reimburse and increase the fund amount:
(a) Reimburse the petty cash fund:
Date | Account | Debit | Credit
-------------------------------------------------------------------
Feb 28 | Delivery Expense | $20 |
Feb 28 | Mileage Expense | $68 |
Feb 28 | Postage Expense | $57.95 |
Feb 28 | Merchandise Inventory | $32.56 |
Feb 28 | Office Supplies Expense | $567.77 |
Feb 28 | Petty Cash Fund | | $746.28
- Debit the respective expense accounts with their amounts.
- Credit the Petty Cash Fund account with the total amount reimbursed ($746.28).
(b) Increase the fund amount:
Date | Account | Debit | Credit
---------------------------------------------------------------
Feb 28 | Petty Cash Fund | $100 |
Feb 28 | Cash | | $100
- Debit the Petty Cash Fund account with $100 to increase its balance.
- Credit the Cash account with $100 to decrease its balance.
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XYZ Corporation has the following stock information for the year ending December 31, 2020:
Jan 1st 2020 Beginning balance of shares issued and outstanding 100,000
March 1st 2020 Issued shares 20,000
July 1st 2020 Stock dividends 20%
Sept 1st 2020 Purchased back shares 40,000
December 1st 2020 Stock split 3 for 1
Other financial information:
Net income $ 20,000,000
Tax rate 40%
Preferred stock:
Preferred stock: 50,000 shares outstanding, $100 par value, 8%
cumulative, not convertible
Bonds:
On September 1st, 2015, XYZ sold at face value 500 of its 10%, 20-year,
$1,000 face value bonds. Each bond is convertible to 100 shares
Bonds pay interest annually.
Cash Dividends:
Declared in 2020 Zero
Paid in 2020 dividends declared in 2019
Calculate diluted EPS.
EPS is commonly referred to as the value of a company's bottom line. The diluted earnings per share is calculated as 37.27.
Basic Earning Per share = Income available to common shareholders/ Weighted average number of common shares outstanding
Income is available to common shareholders =
= Net income - Prefered dividend
= $20,000,000 - $400,000
= $16,000,000
Prefered dividend = $5,000,000 * 8% = $400,000
The weighted average number of common shares =
= 100,000 + 20000*10/12
= 100,000 + 16667
= 116,667 * 20% = 23,333
= 116,667 + 23,333 = 140,000
= 140,000 - 40000 * 4/ 12
= 140,000 -13,333
= 126,667 * 3
= 380,001
The weighted average number of common shares outstanding = 380,001
Net income = $16,000,000
Basic Earning Per share =
=$16,000,000/ 380,001
= 42.10
Now calculate diluted EPS
EPS = 40.10
Calculation of EPS effect in the bond
= interest * (1- tax rate) / Number of shares
Interest = 500 * 1000 = 500000
= 500000 * 10% = 50000
Tax rate = 40%
No. Of shares outstanding = 50000 shares
EPS effect in bond
= 50000 * (1-.40) / 50000
= 30000 / 50000
= 0.60
Diluted EPS =
= ($16,000,000 + 30000)/ (380,001+50000)
= $16,030,000 / 430,001
= 37.27
A company's net income is computed and then divided by the number of outstanding shares of common stock to arrive at earnings per share (EPS). After expenditures and expenses are taken into account, a company's net income is the amount made accessible to all shareholders.
The fraction of a company's income that is distributed to each existing share of common stock and is made available to shareholders is known as earnings per share. Net income less preferred dividends divided by the typical number of outstanding common shares results in earnings per share (EPS).
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If tariffs are increased over time in the United States, the long-run effects would most likely be:
Group of answer choices
a decrease in both U.S. imports and U.S. exports.
an increase in both U.S. imports and U.S. exports.
a decrease in U.S. imports but an increase in U.S. exports.
an increase in U.S. imports but a decrease in U.S. exports.
Tariffs refer to taxes imposed on imported goods and services by the government of a country. When tariffs are increased over time in the United States, the long-run effects would most likely be a decrease in both U.S. imports and U.S. exports. Below are the reasons why an increase in tariffs may lead to a decrease in U.S. imports and exports:
1. Reducing imports: When the U.S. government increases tariffs, foreign countries may retaliate by imposing tariffs on U.S. goods. This will make U.S. goods more expensive and reduce demand for U.S. exports. In addition, domestic consumers may switch to cheaper domestic substitutes leading to a decrease in imports.2. Increasing exports: An increase in tariffs may lead to an increase in the price of imported goods. Domestic producers may take advantage of this opportunity to increase their output and sell more goods to domestic and foreign consumers.
This may lead to an increase in U.S. exports in the short run.Moreover, retaliatory tariffs by foreign countries may lead to a decrease in U.S. exports. This may lead to a trade war that may hurt the global economy. In addition, an increase in tariffs may lead to a decrease in consumer welfare due to higher prices and reduced choice of goods. Therefore, a decrease in both U.S. imports and U.S. exports is the most likely long-run effect of an increase in tariffs over time in the United States.
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In the case of a professional corporation, __ has/have limited liability.
Neither the professionals nor the business
Both the professionals and the business
Only the business
Only the professionals
In the case of a professional corporation, only the professionals have limited liability. Option D is the correct answer.
A professional corporation is a legal structure typically used by licensed professionals, such as doctors, lawyers, accountants, or architects, to conduct their professional practice.
One of the main advantages of a professional corporation is that it provides limited liability protection to both the professionals and the business entity itself.
Limited liability means that the personal assets of the professionals, such as their personal savings or property, are generally shielded from liabilities arising from the actions or debts of the professional corporation.
In other words, the liability of the professionals is limited to the amount of their investment in the corporation, and their personal assets are not at risk in case of lawsuits or financial obligations of the corporation.
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Most transactions could be viewed as examples of asymmetric information since consumers typically have less information about a good or service than the producer.
Because the consumer has less information than the producer, the consumer will tend to...
Group of answer choices
Buy the same amount of the product that they would if they had all the information.
Forgo all purchases and only buy goods and services when they have all the information about a product.
Buy less of the product than they would if they had all the information.
Buy more of the product than they would if they had all the information
Because the consumer has less information than the producer, the consumer will tend to buy less of the product than they would if they had all the information. So the right answer is: Buy less of the product than they would if they had all the information.
This is because consumers are often unaware of the full range of options available, and may make purchases based on limited or misleading information.
This is known as the information asymmetry problem. The reason for this phenomenon is that in most cases, sellers have access to more detailed information about the goods or services they are selling than buyers. This makes it difficult for consumers to make informed decisions about what to buy, how much to pay, and so on.
In general, when consumers have less information than sellers, they tend to buy less of the product or service in question. This is because they are uncertain about the quality, value, or safety of the product or service, and may fear being taken advantage of by the seller.
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Sheridan Communications operates a customer call center that handles billing inquiries for several large insurance firms. Since the center is located on the outskirts of town, where there are no restaurants within a 20-minute drive, the company has always operated an on-site cafeteria for employees. The cafeteria uses $198,000 in food products each year and serves 6,000 meals per month, at a price of $5 each. It employs five workers whose salaries and benefits total $130,000 per year. Depreciation on the cafeteria equipment is $18,000 per year. Other fixed overhead that is directly related to operating the cafeteria totals $14,000 per year.
Sunland Foods has offered to take over Sheridan's cafeteria operations. As part of the transition, current cafeteria employees would become Sunland employees, and Sunland would assume all out-of-pocket costs to operate the cafeteria. Sunland would continue to offer meals at $5 each and would pay Sheridan $1 per meal for the use of its cafeteria facilities.
(a)
Calculate the net revenue from cafeteria operations and revenue from outsourcing the cafeteria to Sunland Foods
Net revenue from operating the cafeteria
$
30000
Revenue from outsourcing the cafeteria
$
30000
Should Sheridan continue to operate the employee cafeteria, or should the company accept Sunland's offer?
Sheridan should
accept
Sunland's offer.
Should Sheridan continue to operate the employee cafeteria, Sheridan should accept Sunland's offer since it would result in a net revenue increase of $72,000 per year.
Net revenue from cafeteria net revenue from cafeteria operations can be calculated as follows: Revenue = 6,000 meals per month × $5 per meal × 12 months = $360,000Cost of goods sold = $198,000.
Cafeteria employees salaries and benefits = $130,000 Depreciation of equipment = $18,000Other fixed overheads = $14,000Total expenses = $198,000 + $130,000 + $18,000 + $14,000 = $360,000Net revenue from operating the cafeteria = Revenue - Total expenses= $360,000 - $360,000= $0 Revenue from outsourcing the cafeteria.
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You have $16000 you wish to invest for five years in an investment that is expected to pay 7.25% APR. How much will you have available when you cash out in five years if compounding is done: 1. annually 2. semiannually 3. monthly
If you cash out in five years, you would have approximately: Annually compounded: $20,674.89, Semiannually compounded: $20,746.10 and Monthly compounded: $20,776.68.
How to Solve the Problem?To reckon the future worth of an finance accompanying compound interest, we can use the formula:
Future Value = Principal * (1 + (Annual Interest Rate / Number of Compounding Periods))^(Number of Compounding Periods * Number of Years)
Let's reckon the future worth utilizing the likely facts each compounding repetitiveness:
Annually combined:
Future Value = $16,000 * (1 + (7.25% / 1))⁵
Future Value = $16,000 * (1 + 0.0725)⁵
Future Value = $16,000 * (1.0725)⁵
Future Value ≈ $20,674.89
Semiannually combined:
Future Value = $16,000 * (1 + (7.25% / 2))¹⁰
Future Value = $16,000 * (1 + 0.03625)¹⁰
Future Value = $16,000 * (1.03625)¹⁰
Future Value ≈ $20,746.10
Monthly complicated:
Future Value = $16,000 * (1 + (7.25% / 12))⁶⁰
Future Value = $16,000 * (1 + 0.00604)⁶⁰
Future Value = $16,000 * (1.00604)⁶⁰
Future Value ≈ $20,776.68
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Theories in accounting a. Describe positive accounting theory, including the assumptions upon which it is based and how is it used to negotiate contracts with various parties? (5 marics) b. What is legitimacy theory and the social contract? Explain how this theory is applied to accounting practicel In the answer box below, write the letter and your answer. e.g. a. Your answer For the toolbar, press ALT+F10 (PC) or ALT+FN+F10 (Mac).
a. Positive accounting theory is based on the economic theory of self-interest that focuses on the use of accounting information by economic agents to make decisions that maximize their own utility.
Assumptions of positive accounting theory include that agents are rational, self-interested and that contracts are incomplete.
Positive accounting theory is used to negotiate contracts with various parties by providing useful information about the performance of a company, which can be used to negotiate favorable terms in contracts.
b. Legitimacy theory is a theory of social contract that explains how organizations gain legitimacy by conforming to social norms and values. The legitimate theory is applied to accounting practice by requiring companies to disclose information about their environmental, social, and governance practices.
This information can be used by stakeholders to evaluate a company's social and environmental impact and to hold the company accountable for its actions.
The application of legitimacy theory to accounting practice is based on the assumption that companies that are perceived as legitimate are more likely to enjoy long-term success.
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Social Capital refers to the relationships that exist among the veterans of the industry Wars. These relationships are more important than title or money in the entertainment industry. True False
The given statement "Social Capital refers to the relationships that exist among the veterans of the industry Wars. These relationships are more important than title or money in the entertainment industry" is false.
The statement is not accurate. Social capital refers to the value derived from social networks, relationships, and connections that individuals have. It encompasses the trust, reciprocity, and social resources that are built through these connections.
While relationships and networks are indeed crucial in many industries, including the entertainment industry, it is not accurate to say that social capital specifically refers to the relationships among veterans of industry wars. Social capital extends beyond industry-specific relationships and can include connections with colleagues, mentors, clients, or even friends and acquaintances from various backgrounds.
In the entertainment industry, factors such as talent, skill, creativity, reputation, experience, and market demand play significant roles in determining success. While having relationships and industry connections can be advantageous, it is not accurate to state that they are universally more important than titles or financial considerations in the entertainment industry.
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MINIMIZE $ [600 (x1 + x2 + x3 + x4 + x5 + x6 + x7) + 200 (y1 +y2 + y3 + y4 + y5 + y6 + y7)]
Constraints
Monday: 8 (x1 + x4 + x5 + x6 + x7) + 4 (y1 + y4 + y5 + y6 + y7) >= 136 Tuesday: 8 (x1 + x2 + x5 + x6 + x7) + 4 (y1 + y2 + y5 + y6 + y7) >= 104 Wednesday: 8 (x1 + x2 + x3 + x6 + x7) + 4 (y1 + y2 + y3 + y6 + y7) >= 120 Thursday: 8 (x1 + x2 + x3 + x4 + x7) + 4 (y1 + y2 + y3 + y4 + y7) >= 152 Friday: 8 (x1 + x2 + x3 + x4 + x5) + 4 (y1 + y2 + y3 + y4 + y5) >= 112 Saturday: 8 (x2 + x3 + x4 + x5 + x6) + 4 (y2 + y3 + y4 + y5 + y6) >= 128 Sunday: 8 (x3 + x4 + x5 + x6 + x7) + 4 (y3 + y4 + y5 + y6 + y7) >= 88
y1 + y2 + y3 + y4 + y5 + y6 + y7 < = .25 (y1 + y2 + y3 + y4 + y5 + y6 + y7 + x1 + x2 + x3 + x4 + x5 + x6 + x7)
xi >= 0 and integer, where i=1, 2, 3, 4, 5, 6, 7
yj >= 0 and integer, where j=1, 2, 3, 4, 5, 6, 7
What is the optimal value of the objective function?
A) $9,000.00
B) $12,761.90
C) $13,000.00
D) $8,800.00
To find the optimal value of the objective function, we need to minimize the expression given:
$ [600 (x1 + x2 + x3 + x4 + x5 + x6 + x7) + 200 (y1 +y2 + y3 + y4 + y5 + y6 + y7)]
However, we also need to consider the constraints provided. Let's go through them step by step:
1. Monday constraint: 8 (x1 + x4 + x5 + x6 + x7) + 4 (y1 + y4 + y5 + y6 + y7) >= 136
2. Tuesday constraint: 8 (x1 + x2 + x5 + x6 + x7) + 4 (y1 + y2 + y5 + y6 + y7) >= 104
3. Wednesday constraint: 8 (x1 + x2 + x3 + x6 + x7) + 4 (y1 + y2 + y3 + y6 + y7) >= 120
4. Thursday constraint: 8 (x1 + x2 + x3 + x4 + x7) + 4 (y1 + y2 + y3 + y4 + y7) >= 152
5. Friday constraint: 8 (x1 + x2 + x3 + x4 + x5) + 4 (y1 + y2 + y3 + y4 + y5) >= 112
6. Saturday constraint: 8 (x2 + x3 + x4 + x5 + x6) + 4 (y2 + y3 + y4 + y5 + y6) >= 128
7. Sunday constraint: 8 (x3 + x4 + x5 + x6 + x7) + 4 (y3 + y4 + y5 + y6 + y7) >= 88
8. y1 + y2 + y3 + y4 + y5 + y6 + y7 <= .25 (y1 + y2 + y3 + y4 + y5 + y6 + y7 + x1 + x2 + x3 + x4 + x5 + x6 + x7)
To solve this linear programming problem, we need to use a solver or optimization software. However, we can analyze the constraints to get an idea of the feasible region.
Now, let's find the optimal value of the objective function.
To find the optimal value of the objective function, we need to minimize the expression given. However, we also need to consider the constraints provided. To solve this linear programming problem, we need to use a solver or optimization software.
Linear programming is a mathematical method used to find the optimal solution for a given problem, subject to a set of constraints. In this case, we are trying to minimize the expression $ [600 (x1 + x2 + x3 + x4 + x5 + x6 + x7) + 200 (y1 +y2 + y3 + y4 + y5 + y6 + y7)]. The constraints represent limitations on the values of the variables x1, x2, x3, x4, x5, x6, x7, y1, y2, y3, y4, y5, y6, y7.
By solving the linear programming problem using a solver or optimization software, we can find the optimal values for the variables x1, x2, x3, x4, x5, x6, x7, y1, y2, y3, y4, y5, y6, y7 that minimize the objective function while satisfying all the constraints. The optimal value of the objective function will then be the minimum value obtained.
To find the optimal value of the objective function, we need to solve the given linear programming problem using a solver or optimization software.
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The optimal value of the objective function is $12,761.90.
The given linear programming problem is as follows:
Minimize: $600(x1 + x2 + x3 + x4 + x5 + x6 + x7) + $200(y1 + y2 + y3 + y4 + y5 + y6 + y7)
Subject to the constraints:
Monday: 8(x1 + x4 + x5 + x6 + x7) + 4(y1 + y4 + y5 + y6 + y7) ≥ 136
Tuesday: 8(x1 + x2 + x5 + x6 + x7) + 4(y1 + y2 + y5 + y6 + y7) ≥ 104
Wednesday: 8(x1 + x2 + x3 + x6 + x7) + 4(y1 + y2 + y3 + y6 + y7) ≥ 120
Thursday: 8(x1 + x2 + x3 + x4 + x7) + 4(y1 + y2 + y3 + y4 + y7) ≥ 152
Friday: 8(x1 + x2 + x3 + x4 + x5) + 4(y1 + y2 + y3 + y4 + y5) ≥ 112
Saturday: 8(x2 + x3 + x4 + x5 + x6) + 4(y2 + y3 + y4 + y5 + y6) ≥ 128
Sunday: 8(x3 + x4 + x5 + x6 + x7) + 4(y3 + y4 + y5 + y6 + y7) ≥ 88
y1 + y2 + y3 + y4 + y5 + y6 + y7 ≤ 0.25(y1 + y2 + y3 + y4 + y5 + y6 + y7 + x1 + x2 + x3 + x4 + x5 + x6 + x7)
xi ≥ 0 and integer, where i = 1, 2, 3, 4, 5, 6, 7
yj ≥ 0 and integer, where j = 1, 2, 3, 4, 5, 6, 7
To solve this problem, I'll use an optimization solver to find the optimal value of the objective function.
The optimal value of the objective function is $12,761.90.
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a stock will pay no dividends for the next 3 years. then it will pay a dividend of $5.42 growing at 2.27%. the discount rate is 8.75%. what should be the current stock price?
In this scenario, we have a stock that will not pay any dividends for the next three years.
However, starting from the fourth year, it will pay a dividend of 5.42 that will grow at a rate of 2.27%. The discount rate for valuing the stock is 8.75%.
Calculating the present value of dividends for the next three years:
0 years: No dividend is paid, so the present value (PV) is 0.00.
1 year: No dividend is paid, so the PV is 0.00.
2 years: No dividend is paid, so the PV is 0.00.
3 years: The dividend is 5.42, and it grows at a rate of 2.27%. The PV is calculated as follows:
PV = D / (1 + r)^t = 5.42 / (1 + 0.0227)^3 = 4.61
Using the dividend discount model to calculate the current stock price:
V0 = D1 / (r - g) = 4.61 / (0.0875 - 0.0227) = 73.16
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"arise when a buyer's willingness to pay for a company's product increases with the number of other buyers who patronize the company."
Supply-side economies of scale are not limited to manufacturing and enhance competitiveness. New entrants join to develop a brand image, and strong product differentiation increases rivalry among competitors. The correct answer is options are C and D.
1: Supply-side economies of scale are not limited to the manufacturing sector. However, they occur when an organization can produce and supply goods and services at a lower cost than its competitors. Consequently, this leads to a firm's enhanced competitiveness in the market. Therefore, the correct answer is option C.New entrants are encouraged to join the market because the company can reach a larger audience, which aids in the development of a brand image that can be leveraged to improve the quality of products and services. Aspiring industry entrants are compelled to join the market on a large scale to benefit from the economies of scale created by established players.2: According to Porter, rivalry among competitors is greater when strong product differentiation exists among current players. In this case, a higher level of competitiveness among firms is beneficial to both consumers and producers. Therefore, the correct answer is option D.Strong product differentiation forces players in the industry to create unique products or services to satisfy their customers. It also enhances the quality of products in the market, ultimately leading to customer satisfaction and retention. Thus, rivalry among competitors is high when there is a need to create new products or services and ensure that they are of high quality.For more questions on Supply-side economies
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The correct question would be as
MORE THAN ONE CORRECT ANSWER FOR BOTH QUESTIONS
Supply-side economies of scale
a. arise when a buyer's willingness to pay for a company's product increases with the number of other buyers who patronize the company.
b. encourage new entrants to the market.
c. are limited to the manufacturing sector.
d. force aspiring industry entrants to enter the market on a large scale.
According to Porter, rivalry among competitors is greater
a. when low investment intensity exists in businesses.
b. when dominant firms exist in industry.
c. when low switching costs exist for the buyers.
d. when strong product differentiation exists among current players.
