The gross profit earned in 20X5 is approximately $639,385.
To calculate the revenue earned in 20X5, we need to determine the portion of the contract completed during that year. We can do this by comparing the actual costs incurred in 20X5 ($2,703,600) to the total estimated costs ($8,866,200).
The proportion of the contract completed in 20X5 can be calculated as follows:
Proportion completed in 20X5 = Actual costs incurred in 20X5 / Total estimated costs
Proportion completed in 20X5 = $2,703,600 / $8,866,200
Proportion completed in 20X5 ≈ 0.305
Now, we can calculate the revenue earned in 20X5 by multiplying the proportion completed in 20X5 by the total contract value:
Revenue earned in 20X5 = Proportion completed in 20X5 * Total contract value
Revenue earned in 20X5 = 0.305 * $10,964,200
Revenue earned in 20X5 ≈ $3,342,985
Therefore, the revenue earned in 20X5 is approximately $3,342,985.
To calculate the gross profit earned in 20X5, we need to subtract the total costs incurred in 20X5 ($2,703,600) from the revenue earned in 20X5:
Gross profit earned in 20X5 = Revenue earned in 20X5 - Total costs incurred in 20X5
Gross profit earned in 20X5 = $3,342,985 - $2,703,600
Gross profit earned in 20X5 ≈ $639,385
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With reference to futures markets, in what ways does the pricing of consumption assets and investment assets differ? b) Explain the meaning of the terms convenience yield and cost of carry. What is the relationship between futures price,spot price,convenience yield and cost of carry?
Consumption assets: These are assets that are typically used or consumed, such as agricultural products or energy resources.
2. Investment assets: These are assets that are held primarily for investment purposes, such as stocks, bonds, or precious metals. The pricing of investment assets in futures markets is influenced by factors like interest rates, economic indicators, corporate performance, and investor sentiment.
Now, let's discuss the terms convenience yield and cost of carry, and their relationship with futures price, spot price, convenience yield, and cost of carry.
- Convenience yield: This refers to the benefit or advantage that holders of physical assets have over futures contract holders. It represents the non-monetary benefits of owning the physical asset, such as immediate access, usage, or convenience.
- Cost of carry: This refers to the expenses associated with holding a physical asset, such as storage costs, insurance, and financing charges. It is calculated by adding the storage cost and the interest cost of holding the physical asset until the delivery date of the futures contract.
The relationship between futures price, spot price, convenience yield, and cost of carry can be explained using the concept of arbitrage. Arbitrage is the practice of taking advantage of price discrepancies between different markets or contracts to make a risk-free profit.
When the futures price is higher than the spot price, it indicates that there is a positive cost of carry. In this case, market participants can buy the physical asset at the lower spot price, hold it until the delivery date of the futures contract, and sell it at the higher futures price, making a profit equal to the cost of carry.
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Convenience yield and cost of carry are important concepts that explain the relationship between futures price, spot price, and the pricing of assets. In futures markets, the pricing of consumption assets and investment assets differs in several ways.
1. Consumption assets: These are assets that are used or consumed by individuals or businesses, such as agricultural products (wheat, corn, etc.) or energy commodities (crude oil, natural gas, etc.). The pricing of consumption assets in futures markets is influenced by factors like supply and demand dynamics, production costs, and geopolitical events that affect the availability and cost of these assets.
2. Investment assets: These are assets that are typically held for investment purposes, such as stocks, bonds, or currencies. The pricing of investment assets in futures markets is driven by factors like interest rates, market sentiment, economic indicators, and expectations about future market conditions.
Now let's explain the terms "convenience yield" and "cost of carry" and discuss their relationship with futures price, spot price, and the pricing of consumption and investment assets.
Convenience Yield:
- Convenience yield refers to the non-monetary benefits or advantages of owning a physical asset rather than a futures contract on that asset.
- It represents the benefits that a holder of the physical asset receives, such as immediate availability, flexibility in production or consumption, or insurance against supply disruptions.
- For consumption assets like agricultural products, convenience yield can be seen as the benefit of having physical possession of the asset to meet immediate needs.
Cost of Carry:
- The cost of carry is the cost associated with holding an asset from one period to another.
- It includes expenses like storage costs, insurance, financing costs, and forgone interest on invested capital.
- For consumption assets, the cost of carry can be significant as physical storage and maintenance expenses are involved.
The relationship between futures price, spot price, convenience yield, and cost of carry can be explained as follows:
- Futures Price: The futures price is the agreed-upon price at which a buyer and seller commit to buying/selling an asset at a specific future date. It is influenced by factors like supply and demand, expectations, and market sentiment.
- Spot Price: The spot price is the current market price at which an asset can be bought or sold immediately.
- Convenience Yield: A higher convenience yield can lead to a higher spot price relative to the futures price. This is because the convenience yield reflects the additional benefits of holding the physical asset, which increases its value in the spot market.
In summary, the pricing of consumption assets and investment assets in futures markets differs based on various factors.
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Why is tesla said to be committed in changing the world with
technology?
Tesla is said to be committed to changing the world with technology as a result of their dedication to manufacturing electric vehicles that are environmentally friendly and have a lower carbon footprint.
Tesla, an American automobile manufacturer, is committed to changing the world with technology. Tesla's vehicles have a significantly lower environmental impact than traditional combustion engine cars, according to the company. Tesla's electric vehicles emit no tailpipe pollutants, which means they do not pollute the air. Tesla is committed to making vehicles that are environmentally friendly, energy-efficient, and sustainable, all of which contribute to a cleaner planet. Tesla's efforts to promote clean energy and reduce carbon emissions are critical in a world where climate change is becoming an increasingly pressing problem. By creating electric vehicles that do not emit greenhouse gases, Tesla is playing a vital role in reducing the amount of carbon dioxide released into the atmosphere.
Tesla is also involved in developing and manufacturing energy storage systems, such as batteries that can store solar energy, and promoting the use of renewable energy sources. Through their commitment to technology, Tesla is striving to create a cleaner and more sustainable future.
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Which of the following budgets needs to be prepared prior to preparing a purchases budget? A O Income Statement budget O Cash budget O Sales budget O Selling and administrative expense budget
The sales budget - option C) is the budget that needs to be prepared before preparing a purchases budget.
A sales budget is a record of expected future sales, often broken down into both units and currency, usually divided into weekly and monthly sections. It is the first and most crucial step in developing a master budget. The expected sales for the budget period are converted into expected cash collections in the cash receipts schedule. Salespeople's commissions are also determined by the sales budget.
A purchase budget is a detailed plan for purchasing goods or raw materials for a business over a set period, such as a quarter or year. The purchasing plan is based on an estimate of sales demand during the same period. The purchase budget is based on the quantity and cost of raw materials and merchandise required to fulfill production and sales objectives.
The purchases budget is an estimate of the amount of inventory a company will require for the coming year, broken down by month. The purchases budget is based on the amount of inventory required to maintain operations. The purchasing department will utilize the purchases budget to plan and budget their purchasing activities.
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Part 1) What is ethics, and what does it mean to "put business and ethics together"? From your vantage point, what would it mean for a company to do this well?
With the current pandemic - what ethical issues do you think companies have faced?
Part 2) Why do your decisions, particularly as they relate to ethically charged issues, matter? Please draw from both what the chapter suggests and your own ideas.
Part 1:
Ethics refers to the set of moral principles that govern an individual's conduct and decision-making.
It entails doing the right thing and conducting oneself in a manner that is consistent with the values of society.
Putting business and ethics together means that businesses must make ethical decisions that are consistent with societal norms.
The primary goal of any organization should be to be profitable while still operating ethically.
It entails doing business while ensuring that all ethical standards are met.
To achieve this, companies must develop ethical guidelines that all members must follow.
A company can do this effectively by establishing a culture of ethical behavior, fostering transparency, promoting open communication, and creating a healthy work environment.
In light of the current pandemic, companies have faced several ethical issues.
For example, businesses were compelled to shut down and send employees home to work remotely, affecting employees' job security.
Many companies have had to lay off workers to remain afloat, resulting in a loss of livelihoods.
Some firms have even been accused of exploiting the pandemic by increasing prices on essential commodities.
Part 2: Ethically charged decisions are essential in any situation, including the business setting, as they determine the ethical standards by which a business operates.
Ethical decisions in a business context can have far-reaching consequences, impacting stakeholders' well-being, the business's reputation, and its bottom line.
Therefore, decisions made must be ethical, with all stakeholders considered, not just one person.
Ethical decision-making is an ongoing process that requires self-reflection, the ability to balance the interests of different stakeholders, and the courage to stand up for what is right, even in the face of adversity or disagreement.
Ethical decision-making is crucial to companies because it demonstrates to stakeholders that the organization is committed to operating with integrity and accountability.
Ethical decisions can help businesses gain trust and confidence from stakeholders, which is essential for long-term success.
Additionally, companies that make ethical decisions can minimize legal and financial risks that arise from unethical behavior.
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#1 What are the three characteristics of accounting events? #2 What is the accounting equation and what are the 9 basic combinations of accounting events? #3 How do debits and credits related to the e
The three characteristics of accounting events are: (i) it involves at least two accounts, (ii) it changes the balance of the accounts involved, and (iii) it affects the financial position of the entity.
The accounting equation is Assets = Liabilities + Equity. The 9 basic combinations of accounting events that can be used to change the accounting equation are: (i) asset increases, liability increases; (ii) asset increases, equity increases; (iii) asset decreases, liability decreases; (iv) asset decreases, equity decreases; (v) liability increases, asset increases; (vi) liability increases, equity increases; (vii) liability decreases, asset decreases; (viii) equity increases, asset increases; (ix) equity decreases, asset decreases.
Debits and credits are used to record accounting transactions. A debit entry increases assets and decreases liabilities and equity, while a credit entry increases liabilities and equity and decreases assets.
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the first step in any employment planning process involves making a(n)_______.
The first step in any employment planning process involves making a career assessment.
A career assessment is a process of gathering information about your skills, interests, values, and personality. This information can be used to identify your strengths and weaknesses, as well as your career goals.
There are many different types of career assessments available, including online assessments, self-assessments, and professional assessments. The best type of assessment for you will depend on your individual needs and preferences.
Once you have completed a career assessment, you will be able to use the information to develop a career plan. A career plan is a roadmap for your professional journey. It should include your short-term and long-term goals, as well as the steps you need to take to achieve them.
A career assessment is an essential first step in any employment planning process. It can help you to identify your strengths and weaknesses, as well as your career goals. This information can then be used to develop a career plan that will help you to achieve your goals.
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Over which of the following does the buy-side adviser take the lead role during second round due diligence?
A) Drafting the Definitive Agreement
B) Building and running the valuation model on the target
C) Determining synergies
D) Operational due diligence
The buy-side adviser takes the lead role during second round due diligence in determining synergies. The buy-side adviser is a professional or firm that provides guidance and assistance to the acquiring party in a business transaction, such as a merger, acquisition, or investment.
During the second round of due diligence in a business acquisition or merger, the buy-side adviser plays a crucial role in assessing the potential synergies between the acquiring company and the target company. This involves analyzing how the combined entities can create value through cost savings, revenue growth, operational efficiencies, market expansion, or other strategic benefits.
Determining synergies requires a thorough examination of both companies' operations, financials, market positions, and strategic goals. The buy-side adviser takes the lead in evaluating the synergistic potential, identifying specific areas where the two companies can integrate or leverage their resources to achieve mutual benefits.
While other tasks, such as drafting the definitive agreement, building and running the valuation model, and conducting operational due diligence, are also important in the due diligence process, determining synergies is a key responsibility of the buy-side adviser during the second round.
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Question 16 1 pts In 2018, lan (1) purchased a 2009 Ford Fiesta from his neighbor for his son, (2) purchased a 2010 "one-owner" Toyota Corolla for his wife, (3) bought a new 2018 Ford Mustang for himself, and (4) sold his 2003 Dodge Caravan. Which, if any, of these transactions will be included in GDP in 2018? All four transactions O The purchase of the Toyota o Only the purchase of the Ford Mustang All three purchases but not the sale
The correct option is that only the purchases of the Ford Fiesta, Toyota Corolla, and Ford Mustang would be included in GDP in 2018.
Gross Domestic Product (GDP) is a measure of a country's economic performance. It represents the total value of goods and services produced within a country's borders during a given period of time.
In 2018, Lan did the following transactions: (1) purchased a 2009 Ford Fiesta from his neighbor for his son, (2) purchased a 2010 "one-owner" Toyota Corolla for his wife, (3) bought a new 2018 Ford Mustang for himself, and(4) sold his 2003 Dodge Caravan. The purchases of the Ford Fiesta, Toyota Corolla, and Ford Mustang would be included in GDP in 2018. The sale of the 2003 Dodge Caravan would not be included in GDP since it does not involve the production of new goods or services.
To further explain this, GDP measures the production of final goods and services that are sold legally in a market. Lan's purchases of the Ford Fiesta, Toyota Corolla, and Ford Mustang were all new goods produced in that year. As a result, they would be included in GDP. On the other hand, the sale of the 2003 Dodge Caravan is not included because it does not reflect the production of new goods or services. It's simply the transfer of a used car from one person to another.
Therefore, the correct option is that only the purchases of the Ford Fiesta, Toyota Corolla, and Ford Mustang would be included in GDP in 2018.
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Assume that you have collected the following information regarding your company:
The company’s capital structure is 60 percent equity, 40 percent debt.
The company’s forecasted capital budget for the coming year is $12,000,000.
The before-tax yield to maturity on the company’s bonds is 7 percent and the bonds are selling at par value – you may ignore flotation costs.
The company’s dividend next year is forecasted to be $1.25 a share.
The company expects that its dividend will grow at a constant rate of 6 percent a year.
The company’s stock price is $20.
The company’s tax rate is 40 percent.
The company anticipates that it will add $4,500,000 to its retained earnings account over the coming year, but that it will also need to raise new common stock over the year. Its investment bankers anticipate that the total flotation cost for new common stock will equal 12.50 percent of the amount issued (or price per share) -- you may assume that the company accounts for flotation costs by adjusting the component cost of capital (i.e., it determines a price that it will net and then uses a DCF approach to determine rs).
Determine what the company’s weighted-average cost of capital for the entire $12,000 to be raised.
Therefore, the company's weighted-average cost of capital (WACC) for the entire $12,000,000 to be raised is 9.03%.
1. Calculate the cost of debt:
The before-tax yield to maturity on the company's bonds is given as 7 percent. Since the bonds are selling at par value, we can assume the coupon rate is also 7 percent. The after-tax cost of debt can be calculated as follows:
Cost of debt = Yield to maturity * (1 - Tax rate)
Cost of debt = 7% * (1 - 40%)
Cost of debt = 4.2%
2. Calculate the cost of equity:
The cost of equity can be determined using the dividend growth model, where:
Cost of equity = (Dividend / Stock price) + Growth rate
Cost of equity = ($1.25 / $20) + 6%
Cost of equity = 0.0625 + 0.06
Cost of equity = 0.1225 or 12.25%
3. Calculate the weights:
Given that the company's capital structure is 60% equity and 40% debt, we can calculate the weights as follows:
Weight of equity = 0.6
Weight of debt = 0.4
4. Calculate the weighted-average cost of capital (WACC):
WACC = (Weight of equity * Cost of equity) + (Weight of debt * Cost of debt)
WACC = (0.6 * 12.25%) + (0.4 * 4.2%)
WACC = 7.35% + 1.68%
WACC = 9.03%
The weighted-average cost of capital (WACC) is an important financial metric that measures the average cost of financing a company's operations. It takes into account the cost of both equity and debt, as well as their respective weights in the company's capital structure.
To calculate the cost of debt, we use the before-tax yield to maturity and adjust it for taxes. Given a tax rate of 40%, the after-tax cost of debt is 4.2%.
To calculate the WACC, we multiply the weights of equity and debt by their respective costs and sum them up. The WACC for the entire $12,000,000 to be raised is 9.03%.
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The company's weighted-average cost of capital for the entire $12,000,000 to be raised is 9.03%. To determine the company's weighted-average cost of capital (WACC) for the entire $12,000,000 to be raised, we need to calculate the cost of equity and the cost of debt:
1. Cost of Equity (Re):
The cost of equity can be calculated using the dividend discount model (DDM). The formula is:
Re = (Dividend per share / Stock price) + Growth rate
Re = ($1.25 / $20) + 0.06
Re = 0.0625 + 0.06
Re = 0.1225 or 12.25%
2. Cost of Debt (Rd):
The before-tax yield to maturity on the company's bonds is given as 7%. We need to adjust this for taxes, as the interest expense on debt is tax-deductible. The formula is:
Rd = Yield to maturity * (1 - Tax rate)
Rd = 0.07 * (1 - 0.4)
Rd = 0.07 * 0.6
Rd = 0.042 or 4.2%
3. Weighted-Average Cost of Capital (WACC):
WACC is calculated by multiplying the cost of equity by the weight of equity and adding it to the cost of debt multiplied by the weight of debt. The formula is:
WACC = (Equity weight * Re) + (Debt weight * Rd)
WACC = (0.6 * 0.1225) + (0.4 * 0.042)
WACC = 0.0735 + 0.0168
WACC = 0.0903 or 9.03%
Therefore, the company's weighted-average cost of capital for the entire $12,000,000 to be raised is 9.03%.
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D Question 11 1 pts Tom works for a global automotive supplier here in Detroit, and often travels to Europe to visit production facilities. While overseas, he checks his e-mail daily and shows employe
Tom, an employee of a Detroit-based global automotive supplier, regularly travels to Europe to visit production facilities. During his trips, he checks his email daily and demonstrates the use of technology to colleagues.
Tom's job requires him to travel to Europe frequently from Detroit to oversee operations at various production facilities. Despite being overseas, he remains connected to his work by checking his email on a daily basis. This practice allows him to stay updated on important communications, address urgent matters promptly, and ensure smooth coordination with his colleagues and teams. Additionally, Tom takes advantage of this opportunity to demonstrate the effective use of technology to his coworkers. By showcasing his ability to stay connected and productive while abroad, he emphasizes the importance of leveraging technology tools to enhance efficiency and collaboration in a global work environment.
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Whon JK dosign docreases tho price of its dresser from 50 to 45 , sales ifcressen from 133 th 154 Calculate the price elasticaty of demarks. White your arwwer with 7 decarnals \( (10,1033) \).
The price elasticity of demand for JK Design's dresser is 1.579.
Price elasticity of demand refers to the degree of responsiveness of the quantity demanded of a product in response to a change in the price of the same product. It can be measured through the following formula:
Price Elasticity of Demand = Percentage Change in Quantity Demanded / Percentage Change in Price.
The given data shows that when the price of JK Design's dresser decreases from $50 to $45, the quantity demanded increases from 133 to 154. Therefore, we can calculate the price elasticity of demand as follows:
Percentage Change in Quantity Demanded = (154 - 133) / 133 x 100% = 15.79%
Percentage Change in Price = (50 - 45) / 50 x 100% = 10%
Price Elasticity of Demand = 15.79% / 10% = 1.579
The given data shows that when the price of JK Design's dresser decreases from $50 to $45, the quantity demanded increases from 133 to 154. Therefore, we can calculate the price elasticity of demand as follows:
Percentage Change in Quantity Demanded = (154 - 133) / 133 x 100% = 15.79%
Percentage Change in Price = (50 - 45) / 50 x 100% = 10%
Price Elasticity of Demand = 15.79% / 10% = 1.579
Therefore, the price elasticity of demand for JK Design's dresser is 1.579.
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A company is considering acquiring an equipment at a cost of
960000.
Expected life of the equipment is 8 years without residual
value.
Expected annual cashflow is 168000 and the minimum desirable
rate
The company is considering acquiring equipment at a cost of $960,000 with an expected life of 8 years without residual value. The expected annual cash flow is $168,000, and the minimum desirable rate is unknown. In order to determine whether or not the investment is worthwhile, we need to calculate the net present value (NPV) and internal rate of return (IRR) of the investment.
Net Present Value (NPV) = Present Value of Cash Flows - Initial Investment
Initial Investment = $960,000
Annual Cash Flow = $168,000
Discount Rate = Minimum Desirable Rate
Using the formula for the Present Value of an Annuity,
PV = C[(1-(1+r)^-n)/r],
where C = annual cash flow,
r = discount rate, and
n = number of periods,
we can calculate the Present Value of the Cash Flows over 8 years:
PV of Cash Flows = $168,000[(1-(1+r)^-8)/r]
NPV = $168,000[(1-(1+r)^-8)/r] - $960,000
We can then use trial and error or a financial calculator to determine the discount rate that makes the NPV equal to zero. This rate is the Internal Rate of Return (IRR).
In conclusion, in order to determine the feasibility of acquiring the equipment at a cost of $960,000 with an expected life of 8 years without residual value and expected annual cash flow of $168,000, the net present value and internal rate of return of the investment should be calculated.
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members hold one another responsible rather than relying on managers as the source of responsibility.
In a culture where members hold one another responsible, there is a shift in the dynamics of responsibility within an organization. Instead of relying solely on managers to enforce accountability, individuals take ownership of their actions and hold their peers accountable.
When members hold one another responsible, it creates a sense of empowerment and autonomy within the organization. This shift in responsibility dynamics encourages individuals to take ownership of their tasks and outcomes, as they are aware that their actions impact not only their own performance but also the success of the team. With this mindset, employees are more likely to act in a responsible manner, meet their commitments, and strive for excellence.
By fostering an environment where members hold one another accountable, organizations can experience several benefits. Firstly, it promotes a culture of trust, as individuals rely on one another to fulfill their responsibilities and deliver on their promises. This trust creates a positive work atmosphere and enhances collaboration and teamwork. Secondly, it reduces the burden on managers, allowing them to focus on strategic initiatives rather than micromanaging employees' actions. Finally, it encourages continuous improvement and learning, as individuals provide feedback and support to help their peers grow and develop professionally.
Overall, a culture where members hold one another responsible fosters a sense of ownership, trust, collaboration, and continuous improvement. It empowers individuals to take responsibility for their actions and promotes a collective effort towards achieving organizational goals.
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Which of the following are externalities (to drivers) of the number of miles they drive? a. wear and tear on highways D. the probability of getting in an accident involving another driver C. the length of time it takes the average driver to get from point A to Point B d. A and above QUESTION 30 1 points Save Answer Given multiple sources for a uniformly mixed air pollutant where the optimal level of the pollutant is precisely known. Which control method is likely to be the least cost effective? atradable emissions permits (cap and trade) b. emissions charges C. emissions standards (Command and Control, CAC) d. none of the above 1 points Save Answer QUESTION 31 According to the cob-web model (Figure 2) the feast and famine cycle can be explained as... a. farmers are not aware that the market is not in equilibrium D. farmers plan this year's supply based on last year's prices f armers try to predict the demand curve based on observed prices and quantities sold. C d. All of the above
Externalities of the number of miles drivers drive include wear and tear on highways, the probability of getting into an accident involving another driver.
The externalities of driving many miles may include the possibility of accidents and wear and tear on highways. Emissions charges are a technique for controlling pollution in which the polluting company pays a fee based on the amount of pollution it emits.
According to the cob-web model the feast and famine cycle can be explained as farmers try to predict the demand curve based on observed prices and quantities sold. The concept of externalities refers to the consequences of an economic activity that is not reflected in the cost of the activity.
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Complete SUG: H/M/L by ranking Jack's x4 ISSUES (Individual
ONLY)
Complete CM: counter-measures (Individual OR Group) for the
HIGHEST ranked issue!
The given question is asking us to complete SUG and CM for Jack's x4 issues. SUG refers to Severity, Urgency, Growth while CM refers to counter-measures.
SUG:
Highest Ranked Issue: Jack's highest-ranked issue is his inability to manage his time effectively. This is High in severity, Medium in Urgency, and Medium in Growth.
The Remaining Issues: Jack's other three issues are listed below:
1. Inability to delegate responsibilities effectively - High in Severity, High in Urgency, Low in Growth
2. Difficulty in coping with stressful situations - Medium in Severity, Medium in Urgency, High in Growth
3. Lack of knowledge about managing teams - Low in Severity, Low in Urgency, High in Growth
As we can see from the answer above, Jack's highest-ranked issue is his inability to manage his time effectively. This issue has a high severity score because it is causing problems for Jack and his team. The urgency of the issue is medium because it is not an emergency, but it needs to be addressed soon to prevent it from becoming worse. Finally, the growth of the issue is medium because if left unaddressed, it will likely get worse over time.
The counter-measures for this issue could be as follows:
CM: Counter Measures - for Inability to Manage Time Effectively (Individual OR Group)
Create a schedule - Jack could create a schedule for himself to help manage his time more effectively. By setting aside specific times for different tasks, he can ensure that he is using his time wisely.
Prioritize tasks - Jack should prioritize tasks based on their importance and urgency. By doing so, he can ensure that he is focusing his time and energy on the most important things first.
Avoid distractions - Jack should try to avoid distractions as much as possible while working. This could mean turning off his phone or email notifications while working on a task, or working in a quiet space where he can focus better.
These counter-measures could help Jack to manage his time more effectively and reduce the severity of this issue.
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True or false, To be binding, Real Estate contracts only need to be in writing if brokers or agents are involved.
False. Real estate contracts must be in writing in all states, regardless of whether or not brokers or agents are involved.
This is because of the Statute of Frauds, which is a law that requires certain types of contracts to be in writing in order to be enforceable.
The Statute of Frauds was enacted to prevent fraud and to ensure that all parties to a contract have a clear understanding of the terms of the agreement. Real estate contracts are considered to be one of the types of contracts that must be in writing because they involve the transfer of real property, which is a valuable asset.
If a real estate contract is not in writing, it may not be enforceable in court. This means that if one party to the contract breaches the agreement, the other party may not be able to sue for damages.
There are a few exceptions to the Statute of Frauds for real estate contracts. However, it is always advisable to have a real estate contract in writing, even if it is not required by law. This will help to protect all parties to the agreement and to avoid any potential disputes.
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Do you consider yourself defined more strongly by your race or by your ethnicity? How so?
For individuals who do have a race and ethnicity, the significance and influence of each may vary depending on personal experiences, cultural background, social context, and individual perspectives. Race typically refers to a person's physical characteristics, such as skin color, hair texture, and facial features, while ethnicity relates to shared cultural practices, traditions, language, and heritage.
How individuals perceive themselves and the importance they place on their race or ethnicity can differ greatly. Some individuals may identify strongly with their racial or ethnic background and find it a central aspect of their identity, shaping their worldview, experiences, and sense of belonging. Others may place more emphasis on factors such as personal beliefs, values, education, or socioeconomic status.
It's important to recognize that identity is a complex and multi-faceted concept, and individuals have different ways of understanding and expressing their sense of self. Understanding and respecting these diverse perspectives is crucial for fostering inclusivity and promoting a society that values and appreciates the richness of individual experiences.
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Consider the production cost information for Mama Italiano Sauce given below: Mama Italian Sauce Production Cost Budget April 2008 Production - Jars of sauce 20,000 Ingredient cost (variable) $16,000 Labor cost (variable) 9,000 Rent (fixed) 4,000 Depreciation (fixed) 6,000 Other (fixed) 1,000 Total $36,000 The company is currently producing and selling jars of sauce The jars of sauce sell for $4 per jar. The company is considering lowering the price to $3.70 per jar. Suppose this action will increase sales. What is the incremental costs associated with producing an extra 65,750 jars of sauce?
The incremental costs associated with producing an extra 65,750 jars of Mama Italiano Sauce can be calculated by considering the variable costs that increase with the production volume. In this case, the variable costs are the ingredient cost and labor cost.
To find the incremental ingredient cost, we can divide the total ingredient cost by the total production volume, and then multiply that by the extra jars being produced.
The ingredient cost per jar is $16,000/20,000 jars = $0.80 per jar. Therefore,
The incremental ingredient cost for 65,750 jars would be $0.80 * 65,750 = $52,600.
Similarly, the incremental labor cost can be calculated by dividing the total labor cost by the total production volume, and then multiplying that by the extra jars being produced.
The labor cost per jar is $9,000/20,000 jars = $0.45 per jar. Therefore,
The incremental labor cost for 65,750 jars would be $0.45 * 65,750 = $29,587.50.
Therefore, the total incremental costs associated with producing an extra 65,750 jars of Mama Italiano Sauce would be $52,600 + $29,587.50 = $82,187.50.
In summary, the incremental costs for producing the additional 65,750 jars of sauce would be $82,187.50.
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____ is a risk control approach that attempts to shift the risk to other assets, other processes, or other organizations.
Risk transfer is a risk control approach that attempts to shift the risk to other assets, other processes, or other organizations. It is an important risk management strategy that helps organizations protect their assets and operations while optimizing their risk profile.
The risk control approach that attempts to shift the risk to other assets, other processes, or other organizations is known as risk transfer. Risk transfer involves transferring the financial consequences of a potential loss or risk to another party, such as an insurance company or a contractual agreement.
Through risk transfer, organizations aim to protect themselves from potential losses by transferring the responsibility of bearing the risk to another entity. This can be achieved through various means, including purchasing insurance policies, entering into contractual agreements that allocate risk to another party, or outsourcing certain activities or processes to external entities.
Insurance is a common form of risk transfer, where organizations pay premiums to insurance companies in exchange for coverage against specific risks. In the event of a loss, the insurance company bears the financial burden, up to the coverage limits specified in the policy.
Contractual agreements, such as indemnification clauses, can also be used to transfer risk. These clauses stipulate that one party will assume responsibility for specific risks or losses that may occur during the execution of the contract, shifting the burden away from the other party.
Outsourcing certain functions or processes to external organizations is another form of risk transfer. By delegating these activities to specialized service providers, organizations transfer the associated risks to those entities, which are typically better equipped to manage and mitigate those risks.
Overall, risk transfer allows organizations to reduce their exposure to certain risks by shifting the responsibility and financial consequences to other assets, processes, or organizations. It is an important risk management strategy that helps organizations protect their assets and operations while optimizing their risk profile.
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what+is+the+future+value+of+a+five-year+ordinary+annuity+of+$1,000+per+year+if+the+interest+rate+is+3.44%?+hint:+solve+for+year+5.
At the end of the five-year period, the accumulated value of the annuity, including both the contributions and the interest earned, will be around $5,619.58.
To calculate the future value of a five-year ordinary annuity of $1,000 per year with an interest rate of 3.44%, we can use the formula for the future value of an ordinary annuity:
Future Value = Payment × [(1 + Interest Rate)^(Number of Periods) - 1] / Interest Rate
In this case, the payment is $1,000 per year, the interest rate is 3.44%, and the number of periods is 5 years. Plugging these values into the formula, we get:
Future Value = $1,000 × [(1 + 0.0344)^(5) - 1] / 0.0344
Calculating this expression, the future value of the annuity comes out to be approximately $5,619.58.
This means that at the end of the five-year period, the accumulated value of the annuity, including both the contributions and the interest earned, will be around $5,619.58.
It's important to note that this calculation assumes that the annuity payments are made at the end of each year and the interest is compounded annually. If the compounding period or the timing of the payments differs, the calculation may vary.
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Question 2 (15 marks) A firm's production function is \[ q=c K^{\alpha} L^{\beta}, \] where \( q \) is the quantity of final production, \( K \) is the quantity of capital, and \( L \) is the quantity
The correct option is 1.
The given production function is [tex]\[q=cK^{\alpha}L^{\beta}\][/tex] Where [tex]\(q\)[/tex] is the quantity of final production k is the quantity of capital L is the quantity of labor.
Now,
[tex]\[\begin{aligned} \frac{\partial q}{\partial K}&=\alpha cK^{\alpha-1}L^{\beta}\\ \frac{\partial q}{\partial L}&\\=\beta cK^{\alpha}L^{\beta-1} \end{aligned}\]Average productivity of capital is given by\[\begin{aligned} \text { Avg. Prod. of Capital }&\\=\frac{q}{K}\\ &=cK^{\alpha-1}L^{\beta}\\ &=\frac{\alpha q}{K} \end{aligned}\][/tex]
Therefore, the correct option is 1.
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interest-based bargaining is based upon a. the area within which union and management are willing to concede. b. suspicion and compromise. c. the identification and resolution of mutual interests.
Interest-based bargaining is based upon c. the identification and resolution of mutual Interest .Interest-based bargaining, also known as principled or integrative bargaining, is a negotiation approach that focuses on identifying and addressing the underlying interests and needs of both the union and management.
It aims to find mutually beneficial solutions by emphasizing collaboration and problem-solving rather than positional or adversarial bargaining.
In interest-based bargaining, the parties involved seek to understand each other's interests, concerns, and priorities. They engage in open communication and dialogue to uncover common ground and explore creative s that meet the needs and goals of both sides. The emphasis is on reaching outcomes that address the underlying interests rather than merely compromising or suspiciously guarding one's position.
By focusing on mutual interests, interest-based bargaining promotes a cooperative approach to negotiations, fostering a more positive and productive working relationship between the union and management. It encourages parties to think beyond their immediate positions and explore win-win solutions that create value for both sides.
This approach is often characterized by brainstorming, joint problem-solving, and interest-based solutions. It can lead to more durable agreements, enhanced trust between labor and management, and improved labor relations overall.
Overall, interest-based bargaining seeks to identify and resolve mutual interests by fostering cooperation, understanding, and joint problem-solving between the union and management, ultimately leading to more constructive and mutually beneficial outcomes.
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Form 941 is used by employers to report certain payroll information., Choose the response that includes the response that includes the complete list of all the wage and withholding items reported on Form 941: A. Wages, social security taxes withheldl and federal income taxes withheld; B. Wages, social security taxes, medicare taxes and federal income tax withheld; C. Wages;, social security taxes withheld, medicare taxes withheld and federal income taxes withheld; D. Social security taxes, medicare taxes,
Form 941 is used by employers to report certain payroll information. It is important to know the complete list of wage and withholding items reported on Form 941, which means the correct answer is B. Wages, social security taxes, Medicare taxes, and federal income tax withheld.
What is the reason?1. Wages: This includes the total amount of wages paid to employees during the reporting period.
2. Social security taxes: Employers are required to withhold a portion of employees' wages for social security taxes. This amount is reported on Form 941.
3. Medicare taxes: Employers also withhold a portion of employees' wages for medicare taxes. This amount is reported on Form 941.
4. Federal income tax withheld: Employers withhold federal income tax from employees' wages based on their tax withholding allowances. This amount is also reported on Form 941.
By accurately reporting these wage and withholding items on Form 941, employers ensure that they are meeting their tax obligations and providing the necessary information to the government.
Hence, option b. is correct.
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Given the following data as of the end of the year, calculate this company's Accounts Receivable Period:
Accounts receivable, beginning of the year = $35,000
Accounts receivable, end of the year = $42,000
Credit sales for the year = $470,000
Select one:
a.
25 days
b.
38 days
c.
41 days
d.
29.9 days
Therefore, the correct answer is d. 29.9 days.To calculate the Accounts Receivable Period, we need to determine the average accounts receivable for the year and then divide it by the average daily credit sales.
Step 1: Calculate the average accounts receivable.
Average accounts receivable = (Beginning accounts receivable + Ending accounts receivable) / 2
Average accounts receivable = ($35,000 + $42,000) / 2
Average accounts receivable = $77,000 / 2
Average accounts receivable = $38,500
Step 2: Calculate the average daily credit sales.
Average daily credit sales = Total credit sales / Number of days in the year
Average daily credit sales = $470,000 / 365
Average daily credit sales ≈ $1,287
Step 3: Calculate the Accounts Receivable Period.
Accounts Receivable Period = Average accounts receivable / Average daily credit sales
Accounts Receivable Period = $38,500 / $1,287
The Accounts Receivable Period is approximately 30 days.
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The correct answer is d. To calculate the Accounts Receivable Period, we need to determine the average accounts receivable and divide it by the average daily credit sales.
Step 1: Calculate the average accounts receivable.
- Accounts receivable, beginning of the year = $35,000
- Accounts receivable, end of the year = $42,000
- Average accounts receivable = (Beginning accounts receivable + Ending accounts receivable) / 2
- Average accounts receivable = ($35,000 + $42,000) / 2 = $77,000 / 2 = $38,500
Step 2: Calculate the average daily credit sales.
- Credit sales for the year = $470,000
- Average daily credit sales = Credit sales for the year / 365 days
- Average daily credit sales = $470,000 / 365 = $1,287.67
Step 3: Calculate the Accounts Receivable Period.
- Accounts Receivable Period = Average accounts receivable / Average daily credit sales
- Accounts Receivable Period = $38,500 / $1,287.67 = 29.9 days
Therefore, the company's Accounts Receivable Period is approximately 29.9 days. The correct answer is d.
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Assume Silvio's Steakhouse paid the dividend of $3.95 this year. For the next 25 years, the firm's dividend will grow by 5.5%, then it will grow by 4.5% each year afterwards. The required rate of return for the firm's industry is 11.0%. What is the present value of the firm's stock under the Dividend Discount Model? Assume that this year's dividend has been paid already.
The present values of all the dividends to find the present value of the firm's stock is Present Value of Stock = Present Value Year 1 + Present Value Year 2 + ... + Present Value Year 25 + Present Value Year 26 + Present Value Year 27 + ...
The present value of a stock can be calculated using the Dividend Discount Model (DDM). The DDM assumes that the value of a stock is equal to the present value of all its future dividends. To calculate the present value of Silvio's Steakhouse stock, we need to consider the growth rate of the dividends, the required rate of return, and the time period.
1. First, let's calculate the dividends for the next 25 years. We know that the dividend for this year is $3.95. For the next 25 years, the dividends will grow by 5.5% each year.
To calculate the dividends for each year, we can use the formula:
Dividend = Dividend for this year * (1 + Growth rate)^Number of years
Using this formula, we can calculate the dividends for the next 25 years:
Year 1: $3.95 * (1 + 0.055)^1 = $4.16
Year 2: $3.95 * (1 + 0.055)^2 = $4.38
Year 3: $3.95 * (1 + 0.055)^3 = $4.61
...
Year 25: $3.95 * (1 + 0.055)^25 = $9.68
2. After 25 years, the dividends will grow by a lower rate of 4.5% each year. We can calculate the dividends for each year using the same formula:
Year 26: $9.68 * (1 + 0.045)^1 = $10.11
Year 27: $9.68 * (1 + 0.045)^2 = $10.56
Year 28: $9.68 * (1 + 0.045)^3 = $11.02
...
3. Next, we need to calculate the present value of each dividend. To do this, we divide each dividend by the required rate of return. The required rate of return for Silvio's Steakhouse is 11.0%.
To calculate the present value of each dividend, we can use the formula:
Present Value = Dividend / (1 + Required rate of return)^Number of years
Using this formula, we can calculate the present value of each dividend for the next 25 years and the subsequent years:
Present Value Year 1: $4.16 / (1 + 0.11)^1 = $3.75
Present Value Year 2: $4.38 / (1 + 0.11)^2 = $3.76
Present Value Year 3: $4.61 / (1 + 0.11)^3 = $3.77
...
Present Value Year 25: $9.68 / (1 + 0.11)^25 = $1.92
Present Value Year 26: $10.11 / (1 + 0.11)^26 = $1.15
Present Value Year 27: $10.56 / (1 + 0.11)^27 = $1.07
Present Value Year 28: $11.02 / (1 + 0.11)^28 = $1.00
...
4. Finally, we sum up the present values of all the dividends to find the present value of the firm's stock.
Present Value of Stock = Present Value Year 1 + Present Value Year 2 + ... + Present Value Year 25 + Present Value Year 26 + Present Value Year 27 + ...
By adding up all the present values, we can find the present value of Silvio's Steakhouse stock under the Dividend Discount Model.
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Multiple Production Department Factory Overhead Rates
The total factory overhead for Bardot Marine Company is budgeted for the year at $499,500, divided into two departments: Fabrication, $364,500, and Assembly, $135,000. Bardot Marine manufactures two types of boats: speedboats and bass boats. The speedboats require two direct labor hours in Fabrication and three direct labor hours in Assembly. The bass boats require one direct labor hour in Fabrication and one direct labor hour in Assembly. Each product is budgeted for 4,500 units of production for the year.
When required, round all per unit answers to the nearest cent.
a. Determine the total number of budgeted direct labor hours for the year in each department.
Fabrication direct labor hours
Assembly direct labor hours
The total number of budgeted direct labor hours for the year in Fabrication is 13,500 and in Assembly is 18,000.
Fabrication direct labor hours
Speedboats: 2 direct labor hours/unit * 4,500 units = 9,000 direct labor hours
Bass boats: 1 direct labor hour/unit * 4,500 units = 4,500 direct labor hours
Total Fabrication direct labor hours
9,000 direct labor hours + 4,500 direct labor hours = 13,500 direct labor hours
Assembly direct labor hours
Speedboats: 3 direct labor hours/unit * 4,500 units = 13,500 direct labor hours
Bass boats: 1 direct labor hour/unit * 4,500 units = 4,500 direct labor hours
Total Assembly direct labor hours
13,500 direct labor hours + 4,500 direct labor hours = 18,000 direct labor hours
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An organisation manufactures a single product. The total cost of making 4,000 units is $20,000 and the total cost of making 20,000 units is $40,000. Within this range of activity the total fixed costs remain unchanged. What is the variable cost per unit of the product
$1.25
$0.80
$2.00
$1.20
The variable cost per unit of the product is $1.25. Option A is the correct answer.
To calculate the variable cost per unit of the product, we need to determine the change in total cost and the change in the number of units produced within the given range.
The change in total cost is $40,000 - $20,000 = $20,000.
The change in the number of units produced is 20,000 - 4,000 = 16,000 units.
Now, we can calculate the variable cost per unit:
Variable Cost per Unit = Change in Total Cost / Change in Units Produced
= $20,000 / 16,000 units
= $1.25
Therefore, the variable cost per unit of the product is $1.25. Option A is the correct answer.
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Pam applies for a job at a Quik Mart store but is not hired due to her gender. Pam files a suit against Quik Mart. A prima facie case is established. Pam
- loses the suit regardless of Quik Mart's response.
- loses the suit unless Quik Mart asserts an appropriate defense.
- wins the suit regardless of Quik Mart's response.
- wins the suit unless Quik Mart asserts an appropriate defense.
Pam wins the suit unless Quik Mart asserts an appropriate defense and provides a valid, non-discriminatory reason for not hiring her. The correct answer is: Pam wins the suit unless Quik Mart asserts an appropriate defense.
In cases involving employment discrimination based on gender, establishing a prima facie case is an important step. A prima facie case means that Pam has presented sufficient evidence to support her claim of gender discrimination. To establish a prima facie case, Pam typically needs to show that she belongs to a protected class (in this case, being a female), she applied and was qualified for the position, she was rejected, and the position remained open or was filled by someone outside her protected class.
Once a prima facie case is established, the burden of proof typically shifts to the employer (Quik Mart) to provide a legitimate, non-discriminatory reason for not hiring Pam. If Quik Mart fails to assert an appropriate defense or cannot provide a valid reason for not hiring Pam, she is likely to win the lawsuit. However, if Quik Mart successfully asserts an appropriate defense and demonstrates that their decision not to hire Pam was based on a legitimate and non-discriminatory reason, Pam may lose the suit.
In summary, Pam wins the suit unless Quik Mart asserts an appropriate defense and provides a valid, non-discriminatory reason for not hiring her.
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Question 3
Your client is Cater Limited, a diversified business operating in all parts of Australia Its reporting date was 30 June 2022 and the auditor's report was signed on 31 July 2022 The Financial statements were mailed to shareholders on 14 August 2022
During your subsequent events review, you noted the following independent and material items
1. in early June, one of Cater's largest debtors reported that it was experiencing serious financial difficulties. On 5 July, Cater was informed that the debtor had gone into reship Preliminary reports suggest Cater will recover only twenty cents in the dollar of the outstanding debl
2. Cater has been involved in a copyright dispute with a competitor, Jacqui Rose, for several years. On 27 July, you discovered that Jacqui Rose had settled the legal action out of court on terms more favourable to Cater than expected
3. On 10 July, one of Cater major product lines developed a fault that rendered the product unusable. Cater became aware of the fault on 30 July. Although the fault posed no safety risks to consumers, Cater decided to launch a full product recall on the following day.
4. On 30 July, the Bureau of Meteorology issued a cyclone warning for parts of far north Queensland. Cater has a large sugar cane plantation in this area. On 2 August, the cyclone hit, wiping out about 90% of the crop.
Required
a. Outline one (1) key additional audit procedure you should consider performing in relation to each of the above events. b. What type of subsequent event does each scenario represent? What action would you expect Cater Limited to take in relation to their financial statements for each of the above scenarios? Justify your answers.
In relation to the four subsequent events listed, the following are the key additional audit procedures that the auditor should perform: For scenario.
The auditor must obtain more information on the debtor's financial difficulty, investigate whether the amount that the debtor owes is collectible or not, and assess if the debtor's bankruptcy filing has any financial impact on Cater Limited. For scenario.
The auditor must evaluate the impact of the settlement on the financial statements of Cater Limited. The auditor must determine if the settlement should be recorded as income or a reduction in an expense and assess whether the impact of the settlement is significant. For scenario.
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Chegg Co. had the following activity during the month of February. Journalize each of the following transactions assuming a perpetual inventory system. Feb. 1 Sold merchandise with a cost of \( \$ 2,3
Chegg Co. had the following activity during the month of February and we are supposed to journalize each of the following transactions assuming a perpetual inventory system:February 1:Sold merchandise with a cost of $2,300 for $3,400 on account.
The following journal entry will be made for this transaction:Accounts Receivable $3,400Sales Revenue $3,400Cost of Goods Sold $2,300Inventory $2,300February 3:Purchased merchandise with a cost of $7,000 on account.The following journal entry will be made for this transaction:
Inventory $7,000Accounts Payable $7,000February 5:Received payment from the transaction on February 1.The following journal entry will be made for this transaction:Cash $3,400Accounts Receivable $3,400February 7:Sold merchandise with a cost of $4,000 for $6,000 cash.The following journal entry will be made for this transaction:Cash $6,000Sales Revenue $6,000Cost of Goods Sold $4,000Inventory $4,000February 9:
Paid $5,000 for salaries.The following journal entry will be made for this transaction:Salaries Expense $5,000Cash $5,000February 11:Purchased merchandise with a cost of $3,200 for cash.The following journal entry will be made for this transaction:Inventory $3,200Cash $3,200February 15:
Sold merchandise with a cost of $2,800 for $4,500 on The following journal entry will be made for this transaction:Accounts Receivable $9,800Sales Revenue $9,800Cost of Goods Sold $6,500Inventory $6,500February 27:Received payment from the transaction on February 20.
The following journal entry will be made for this transaction:Cash $8,000Accounts Receivable $8,000February 28:Purchased merchandise with a cost of $4,400 for cash.The following journal entry will be made for this transaction:Inventory $4,400Cash $4,400I hope the answer helps you!
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