Generally, the cultural diversity brings dimension by fostering a rich tapestry of practices, resolving power struggles through inclusive conflict resolution, nurturing strong interpersonal relationships, challenging negative perceptions etc.
How does cultural diversity impact organizational culture in Qatar?In Qatar, the cultural diversity in Qatar's organizational culture adds dimension and richness by incorporating a wide range of cultural practices, fostering inclusive power dynamics, promoting positive perceptions, nurturing healthy interpersonal relationships and acknowledging the influence of culture on gender and occupation.
But, it also raises concerns for international chains employing foreign workers requiring effective conflict resolution strategies to address power struggles and tensions.
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Fes Company is making adjusting journal entries for the year ended December 31, 2021. In developing information for the adjusting journal entries, you learned the following:
A.) A two-year insurance premium of $7,900 was paid on January 1, 2021, for coverage beginning on that date. As of December 31, 2021, the unadjusted balances were $7,900 for Prepaid Insurance and $0 for Insurance Expense.
B.) At December 31, 2021, you obtained the following data relating to supplies.
Unadjusted balance in Supplies on December 31: $18,500
Unadjusted balance in Supplies Expense on December 31: 79,000
Supplies on hand counted on December 31: 12,800
Required: Prepare adjusting journal entries at December 31, 2021, for (a) insurance and (b) supplies. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.)
Adjusting journal entry for insurance:
Insurance premiums that have been paid in advance but have not yet expired or been used up are referred to as prepaid insurance. To represent the portion of prepaid insurance that has been used up or earned over the course of a given accounting period, adjusting entries are necessary.
Date: December 31, 2021
Debit: Insurance Expense $3,950 (($7,900 / 2 years) × 1 year))
Credit: Prepaid Insurance $3,950 (($7,900 / 2 years) × 1 year))
The $7,900 insurance premium was paid for a two-year period. The premium has been utilized for one year as of December 31, 2021. Therefore, $3,950 ($7,900 / 2 years) × 1 year)) is the amount of the premium that has expired during the year and needs to be adjusted against prepaid insurance.
Adjusting journal entry for supplies:
Adjusting entries for the unadjusted balance in supplies involve updating the accounting records to reflect the actual amount of supplies on hand at the end of an accounting period.
Date: December 31, 2021
Debit: Supplies Expense $66,700 ($79,000 - $12,800)
Credit: Supplies $66,700 ($79,000 - $12,800)
The total amount of supplies utilized for the year is shown by the unadjusted balance in Supplies Expense, which is $79,000. However, as of December 31, 2021, there was an unadjusted amount of $18,500 in the Supplies account, which represents the supplies that had not yet been spent. We can calculate the amount of supplies used during the year, which is $66,700 ($79,000 - $12,800), by adding up the materials on hand as of December 31. This totals $12,800. This amount is recognized as a supply expense in the adjusting entry, which also reduces the supply account.
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How much should healthcare executives know about finance and accounting?
Understanding accounting principles, financial regulations, and the healthcare industry's financial landscape is critical to making sound financial decisions that benefit patients and the organization.
Healthcare executives, specifically those who manage finances, must have a comprehensive knowledge of finance and accounting principles. Healthcare executives must know how to manage money and ensure the company's financial stability. They need to have a working knowledge of accounting principles, the healthcare industry's regulatory landscape, and how to make sound financial decisions when running a healthcare facility.
The majority of healthcare executives should have a basic understanding of financial concepts and accounting principles. They must understand accounting concepts such as profit and loss statements, balance sheets, and cash flow statements. They must also have a solid understanding of the healthcare industry's financial landscape, including regulatory guidelines.
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RFID technology enables companies to primarily
a. map out key supply chain processes.
b. develop supply chain performance measures.
c. simulate supply chain models under different scenarios.
d. track data for products as they move through the supply chain.
RFID technology enables companies to primarily track data for products as they move through the supply chain.
So, the answer is D.
What is RFID?RFID (radio frequency identification) technology is a form of wireless communication that uses radio waves to recognize and track objects. RFID is a type of Auto-ID (automatic identification) technology that allows for object identification and tracking without the need for human involvement.
To enable companies to primarily track data for products as they move through the supply chain, RFID technology is used. RFID has a wide range of applications, including tracking goods in a supply chain, managing inventory levels, and securing goods against theft or loss.
In addition to these uses, RFID technology has been used in a variety of other applications, including contactless payment systems, pet tracking, toll collection, and many more.
The other choices do not match up with the main application of RFID technology, so the correct option is option D, i.e., track data for products as they move through the supply chain.
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a. According to the "real-balances effect," or the "real wealth" effect, if prices
O decline, the purchasing power of assets will rise, so spending at each income level should rise. O decline, the purchasing power of assets will decrease, so spending at each income level should
rise. O increase, the purchasing power of assets will decrease, so spending at each income level should
rise.
O increase, the purchasing power of assets will rise, so spending at each income level should rise.
According to the "real-balances effect" or the "real wealth" effect, if prices decline, the purchasing power of assets will rise, so spending at each income level should rise.
When prices decline, the purchasing power of individuals' assets increases because they can buy more goods and services with the same amount of money. This increase in real wealth leads to a greater sense of financial security and confidence in making purchases. As a result, individuals are more likely to increase their spending, even at each income level.
The logic behind this effect is that when prices are lower, people feel wealthier as their money can buy more. This increased purchasing power encourages individuals to spend more, which in turn stimulates economic activity and contributes to overall economic growth. Higher consumer spending can also lead to increased demand for goods and services, which can have a positive impact on businesses and the economy as a whole.
It is important to note that this effect assumes that other factors influencing consumer behavior, such as income levels and expectations about future prices, remain constant. Additionally, the real-balances effect is just one of several factors that can influence consumer spending patterns and economic conditions.
In conclusion, according to the real-balances effect, when prices decline, the purchasing power of assets increases, leading to an expected increase in spending at each income level.
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Leach Incorporated experienced the following events for the first two years of its operations. Year 1: 1. Issued $27,000 of common stock for cash. 2. Provided $96,700 of services on account. 3. Provided $53,000 of services and received cash. 4. Collected $86,000 cash from accounts receivable. 5. Paid $55,000 of salaries expense for the year. 6. Adjusted the accounting records to reflect uncollectible accounts expense for the year. Leach estimates that 5 percent of the ending accounts receivable balance will be uncollectible. 7. Closed the revenue account. 8. Closed the expense accounts. Year 2: 1. Wrote off an uncollectible account for $1,500. 2. Provided $105,000 of services on account. 3. Provided $49,000 of services and collected cash. 4. Collected $98,000 cash from accounts receivable. 5. Paid $82,000 of salaries expense for the year. 6. Adjusted the accounts to reflect uncollectible accounts expense for the year. Leach estimates that 5 percent of the ending accounts receivable balance will be uncollectible. 7. Closed the revenue account. 8. Closed the expense accounts. Prepare the income statement, statement of changes in stockholders' equity, balance sheet, and statement of cash flows for Year 1. Complete this question by entering your answers in the tabs below.
For Year 1, Leach Incorporated had total revenue of $149,700, with $96,700 from services on account and $53,000 from services cash. The total expenses for the year were $55,000 plus the uncollectible accounts expense
Income Statement for Year 1:
Revenue:
Services on Account: $96,700
Services Cash: $53,000
Total Revenue: $149,700
Expenses:
Salaries Expense: $55,000
Uncollectible Accounts Expense: (5% of ending accounts receivable balance)
Total Expenses: $55,000 + Uncollectible Accounts Expense
Net Income: Total Revenue - Total Expenses
Statement of Changes in Stockholders' Equity for Year 1:
Beginning Common Stock: $0
Issued Common Stock for Cash: $27,000
Ending Common Stock: $27,000
Beginning Retained Earnings: $0
Net Income: (from Income Statement)
Ending Retained Earnings: Beginning Retained Earnings + Net Income
Balance Sheet for Year 1:
Assets:
Cash: (Collected cash from services) + (Collected cash from accounts receivable)
Accounts Receivable: (Ending accounts receivable balance)
Total Assets: Cash + Accounts Receivable
Liabilities:
None is mentioned in the given information.
Stockholders' Equity:
Common Stock: (Ending Common Stock from Statement of Changes in Stockholders' Equity)
Retained Earnings: (Ending Retained Earnings from Statement of Changes in Stockholders' Equity)
Total Stockholders' Equity: Common Stock + Retained Earnings
Statement of Cash Flows for Year 1:
Operating Activities:
Cash Collected from Accounts Receivable
Cash Paid for Salaries Expense
Uncollectible Accounts Expenses (included in Net Income)
Financing Activities:
Cash Received from Issuance of Common Stock
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Had you been public directions director for NBC, what would you have advised relative to airing Ronan Farrow's story on Weinstein?
If I had been the public directions director for NBC, I would have advised airing Ronan Farrow's story on Weinstein.
Ronan Farrow, a journalist, worked for NBC News and had a story about Harvey Weinstein's alleged sexual harassment. However, NBC News didn't broadcast the story. Farrow was able to release the tale on The New Yorker, for which he won the Pulitzer Prize.
However, Farrow was allowed to publish the tale in The New Yorker. NBC did not allow it to be broadcasted on their station. I would have advised NBC to air Ronan Farrow's story on Weinstein because it is a matter of public interest and a crucial story that must be shared with the public.
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An investment has an initial capital outlay of $100 million and expects $175 million in 7 years. Which of the following is correct? The investment is not acceptable. Its internal rate of return is 8.32%. The investment is acceptable. Its internal rate of return is 10.53%.
The investment is acceptable. Its internal rate of return is 10.53%. The internal rate of return (IRR) is the discount rate that makes the NPV of an investment equal to zero. It is an estimate of the project's profitability.
An investment is deemed viable if its internal rate of return (IRR) is greater than the cost of capital used to finance it. Internal rate of return is calculated using the following formula:
NPV = -C0 + C1 / (1+r)1 + C2 / (1+r)2 + Cn / (1+r)n Where:
NPV = Net Present Value
C0 = Initial Cash Outflow C1 to
Cn = Cash inflows in periods 1 to
nR = Internal Rate of Return The calculation shows that the investment has a positive net present value at a rate of return of 10.53%. Hence, the investment is acceptable because its internal rate of return is greater than the cost of capital used to finance it, which makes it more profitable to invest in it. Therefore, the answer is option C: The investment is acceptable. Its internal rate of return is 10.53%.
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The stock of Big Joe's has a beta of 1.28 and an expected return of 11.50 percent The risk-free rate of return is 4 percent What is the expected return on the market? a. 9. 86 percent b. 6.38 percent c. 7.50 percent d. 8.58 percent e. 12.62 percent
The risk-free rate of return is 4 percent. The expected return on the market is 9.86 percent.
The expected return on the market can be determined using the capital asset pricing model (CAPM), which calculates the expected return based on the risk-free rate of return, the beta of the stock, and the market risk premium.
The risk-free rate of return is given as 4 percent. The beta of the stock is given as 1.28, which represents the stock's sensitivity to market movements. The expected return of the stock is given as 11.50 percent.
The market risk premium is the difference between the expected return on the market and the risk-free rate of return. Using the CAPM formula, we can calculate the market risk premium by multiplying the beta by the market risk premium:
Market Risk Premium = Beta * (Expected Return on the Market - Risk-Free Rate of Return)
Substituting the given values, we have:
1.28 * (Expected Return on the Market - 4%) = 11.50% - 4%
Solving for the expected return on the market, we find:
Expected Return on the Market = (11.50% - 4%) / 1.28 + 4% = 9.86%
Therefore, the expected return on the market is 9.86 percent (option a).
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Review Apple's financial statements in Appendix A and identify its (a) total assets as of September 30, 2017, and September 24, 2016, and (b) operating income for the year ended September 30, 2017 Required 1. Assume Apple's target income is 12% of average assets. Compute Apple's residual income for fiscal 2017 using operating income 2. Compute Apple's return on investment (in percent) for fiscal 2017 using operating income (Round your answers to 2 decimal places.)
Here are the answers to your questions:
(a)Total assets as of September 30, 2017: $346,747 million
Total assets as of September 24, 2016: $323,888 million
(b)Operating income for the year ended September 30, 2017: $59,434 million
(1)Apple's residual income for fiscal 2017 is $29,707 million.
To calculate residual income, we first need to calculate Apple's average assets. This is done by taking the sum of Apple's total assets at the beginning of the year and the end of the year and dividing by 2. In this case, the average assets are $335,317 million.
We then need to calculate Apple's target income. This is done by multiplying Apple's average assets by the target income percentage. In this case, the target income percentage is 12%, so the target income is $40,238 million.
Finally, we subtract the target income from the operating income to calculate the residual income. In this case, the residual income is $59,434 million - $40,238 million = $29,707 million.
(2) Apple's return on investment (ROI) for fiscal 2017 is 17.3%.To calculate ROI, we first need to calculate Apple's operating income as a percentage of assets. This is done by dividing the operating income by the average assets. In this case, the operating income as a percentage of assets is 17.3%.
We then multiply this percentage by 100 to express it as a percentage. In this case, the ROI is 17.3% x 100 = 17.3%.Here is an explanation of the calculation:
Residual income is the amount of income that a company earns above its target income.
Target income is the amount of income that a company expects to earn based on its assets and operations.
Return on investment (ROI) is a measure of how profitable a company is. It is calculated by dividing the company's net income by its total assets.
In this case, Apple's residual income is $29,707 million. This means that Apple earned $29,707 million more than its target income of $40,238 million. Apple's ROI is 17.3%. This means that Apple earned $17.30 for every $100 in assets that it had.
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To record the COGM in the accounts of a manufacturer on completion, which is the correct journal entry? Select one: O a. CR Finished Goods DR Work in Progress O b. DR Finished Goods CR Work in Progress OC. DR WIP CR Raw Materials O d. DR COGS CR Finished Goods Fin
The correct journal entry to record the COGM in the accounts of a manufacturer on completion is B) DR Finished Goods CR Work in Progress.
The Cost of Goods Manufactured (COGM) can be defined as the total cost of completed units transferred to Finished Goods Inventory during the accounting period. A journal entry is required to record COGM and transfer the cost of the completed units to Finished Goods Inventory.
A manufacturer's journal entry to record the Cost of Goods Manufactured (COGM) in the accounts on completion is DR Finished Goods CR Work in Progress. The completed products' cost is transferred from Work in Progress (WIP) to Finished Goods Inventory when units are completed. That is why Work in Progress is debited, and Finished Goods Inventory is credited.
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11. Question # 3 (15 points) Three independent projects are to be evaluated at a MARR of 10% per year. No more than $3.0 million can be invested Life, years Estimated NCE po Year 1 6 10 Gradient after
The Net Present Value is a method for determining if a project's current value is greater than or less than its future worth. This technique assists in identifying the value of cash flows expected over time at a specified discount rate. Three independent ventures are assessed at a MARR of 10% per year in this situation.
No more than $3.0 million should be invested.The calculation of the net cash inflow (NCI) is required before calculating the net present value (NPV). The net cash inflow formula can be found in the following equation:NCI = gradient × (1 − 1/(1 + MARR)n) / MARRHere, the gradient is the difference between the cash inflows and the cash outflows in a given year. 'n' is the number of years of project life. The MARR for this situation is 10%, and no more than $3 million can be invested, as noted above.Let's take each project into consideration.
Project 1 has a life of 6 years, and the estimated NCE po Year 1 is $900,000. So, using the above formula, we can calculate the Net Cash Inflow as follows:NCI Project 1 = 900,000 x (1 − 1/(1 + 0.1)6) / 0.1NCI Project 1 = $3,327,928.63Project 2 has a life of 10 years, and the estimated NCE po Year 1 is $600,000. So, using the above formula, we can calculate the Net Cash Inflow as follows:NCI Project 2 = 600,000 x (1 − 1/(1 + 0.1)10) / 0.1NCI Project 2 = $3,257,338.82Project 3 has a life of years and the estimated NCE po Year 1 is $1,000,000. So, using the above formula,
we can calculate the Net Cash Inflow as follows:when the initial investment is $2,000,000).Project 2 has a net present value of $1,257,338.82 (when the initial investment is $1,000,000).Project 3 has a net present value of $486,784.80 (when the initial investment is $1,500,000).If a project's net present value is zero, it is said to be marginal. This suggests that the venture is worthwhile, but there is no economic gain or loss involved. Any project with a net present value of greater than zero is deemed worthwhile because the project's cash inflows are higher than its outflows. Any project with a net present value of less than zero is regarded as unprofitable.
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in order to avoid discrimination in the workplace, what should employers do?responsesmake sure company buildings are accessible to employees with disabilitiesmake sure company buildings are accessible to employees with disabilitiesattempt to hire a diverse combination of races, genders, and agesattempt to hire a diverse combination of races, genders, and agesoffer promotions based on job performance, attitude, and other nondiscriminatory criteriaoffer promotions based on job performance, attitude, and other nondiscriminatory criteriaall of the aboveall of the above
The answer is "all of the above." In order to avoid discrimination in the workplace, employers should implement a combination of measures to create an inclusive and equitable environment.
guarantee that company facilities are accessible to staff with disabilities. This includes installing ramps, elevators, accessible restrooms, and other modifications to guarantee that staff with disabilities have equitable access to the facilities.
Hire people from a variety of ethnicities, genders, and ages: Employers should make an effort to build a diverse workforce that represents the larger population. This entails actively looking for applicants with diverse backgrounds in terms of gender, age, race, and ethnicity.
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Evaluate the following projects using the payback method assuming a rule of 3 years for payback. Year Project A Project B
0 -10,000 -10,000
1 4,000 4,000 2 4,000 3,000 3 4,000 2,000
4 0 1,000,000
A) Project A can be accepted because the payback period is 2.5 years but Project B cannot be accepted because its payback period is longer than 3 years. B) Project B should be accepted because even though the payback period is 2.5 years for Project A and 3.001 for project B, there is a $1,000,000 payoff in the 4th year in Project B. C) Project B should be accepted because you get more money paid back in the long run. D) Both projects can be accepted because the payback is less than 3 years.
The correct option is A) Project A can be accepted because the payback period is 2.5 years but Project B cannot be accepted because its payback period is longer than 3 years.
The payback method assumes that a project should be accepted if it pays back the initial investment within a certain period of time.
In this case, the rule is a payback period of 3 years.
Therefore, let's calculate the payback period for each project:Year Project A Project B
0-10,000-10,000
14,0004,000
24,0003,000
34,0002,000
4---1,000,000
To calculate the payback period, we need to determine the point at which the cumulative cash flow becomes positive. For Project A, this occurs in year 2, so the payback period is 2 years.
For Project B, this occurs in year 3, so the payback period is 3 years.
Since the payback period for Project B is longer than the rule of 3 years, it cannot be accepted.
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The production supervisor of the Machining Department for Hagerstown Company agreed to the following monthly static budget for the upcoming year: Hagerstown Company Machining Department Monthly Produc
For the production level of 3,500 units, the budgeted cost per unit was determined to be $0.0089 per unit.
The production supervisor of the Machining Department for Hagerstown Company agreed to the following monthly static budget for the upcoming year. Hagerstown Company Machining Department Monthly Production Budget For the Year Ended December 31, 20x8.Units to be produced: 3,500. Direct materials: Quantity per unit: 4 pounds. Cost per pound: $6. Direct labour: Time per unit (hours): 0.6 hours. Rate per hour: $12.
The budgeted cost per unit can be computed as follows: Budgeted cost per unit = (Direct materials cost + Direct labour cost)/Number of units to be produced. Direct materials cost = Quantity per unit x Cost per pound. Direct labour cost = Time per unit x Rate per hour. The budgeted cost per unit is shown below, assuming the production level for the month was 3,500 units. Direct materials cost = 4 pounds x $6 = $24. Direct labour cost = 0.6 hours x $12 = $7.2. Total budgeted cost = Direct materials cost + Direct labour cost= $24 + $7.2 = $31.2. Budgeted cost per unit = $31.2/3,500= $0.0089 per unit. Therefore, the budgeted cost per unit is $0.0089 per unit. The budgeted cost per unit of the Machining Department for the Hagerstown Company was computed by dividing the total budgeted cost by the number of units to be produced. For the production level of 3,500 units, the budgeted cost per unit was determined to be $0.0089 per unit.
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Following is a list of account balances of Wilson Mowing Services of December 31 of the first year of operation.
Accounts receivable $5,000
Accounts payable 4,000
Salary expense 5,000
Repairs expense 1,000
Truck 10,000
Equipment 8,000
Notes payable 8,200
Cash 7,500
Supplies expense 1,600
Service revenue 32,000
Gasoline expense 3,800
Salary payable 200
At the end of the year, what is the amount of total liabilities?
a. $21,200
b. $12,200
c. $12,400
d. $24,100
The correct option is c. $12,400.To determine the amount of total liabilities at the end of the year, we need to add up the balances of accounts that represent liabilities. Based on the provided list of account balances, the relevant liability accounts are:
Accounts Payable: $4,000,Notes Payable: $8,200,Salary Payable: $200.
To calculate the total liabilities, we add these amounts: $4,000 (Accounts Payable) + $8,200 (Notes Payable) + $200 (Salary Payable) = $12,400. Therefore, the correct option is c. $12,400.
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On the income statement, income from discontinued operations is shown: Multiple Choice A. without any income tax effect. B. as an accounting principle change. C. as a separate section of income from continuing operations. D. net of taxes after income from continuing operations.
On the income statement, income from discontinued operations is shown as: D. net of taxes after income from continuing operations.
Income from discontinued operations represents the financial results of a component or segment of a company that has been or will be disposed of. It is reported separately on the income statement to provide users with information about the financial performance of the discontinued operations. The income from discontinued operations is typically shown net of taxes, meaning that the tax effect is taken into account and the reported amount reflects the after-tax income. This presentation allows for a clearer understanding of the financial impact of the discontinued operations on the company's overall profitability.
Therefore, option D is the correct choice as it accurately describes how income from discontinued operations is shown on the income statement.
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A company is planning to produce some goods. In order to start they need $25million 4 years from now.
How much money to be saved every month to have 25 million in 4 years from now. Interest is 10% per year. (use compound interest tables).
The amount required to start production is $25 million in 4 years from now. The interest rate is 10% per year. We need to find the amount of money that needs to be saved every month.
Therefore, the calculation of the amount of money that needs to be saved every month is as follows: Present value = Future value ÷ (1 + i) there, the Future value (FV) is $25 million, i is 10% and the n is 4 years. So, Present value (PV) = $25 million ÷ (1 + 0.10)4PV = $18,143,580.61. This present value should be saved today to achieve the target of $25 million in 4 years.
Thus, if the saving period is 4 years, and the interest rate is 10%, then the monthly payment should be [tex]$373,719.60[/tex]. (Use the following formula for monthly payments:PMT = (PV × i) ÷ 12)PMT = ($[tex]18,143,580.61 * 0.10[/tex]) ÷ 12PMT = $151,196.50. So, $[tex]151,196.50[/tex] is to be saved each month for the next 4 years to have $25 million in 4 years from now.
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Evans Technology has the following capital structure.
Debt 40 %
Common equity 60
The aftertax cost of debt is 9.00 percent, and the cost of common equity (in the form of retained earnings) is 16.00 percent.
a. What is the firm’s weighted average cost of capital? (Do not round intermediate calculations. Input your answers as a percent rounded to 2 decimal places.)
The firm's weighted average cost of capital (WACC) is 11.94%.
To calculate the WACC, we need to take the weighted average of the after-tax cost of debt and the cost of common equity.
1. Calculate the weight of debt and equity:
Debt weight = Debt / (Debt + Equity) = 40% / (40% + 60%) = 0.4
Equity weight = Equity / (Debt + Equity) = 60% / (40% + 60%) = 0.6
2. Calculate the after-tax cost of debt:
After-tax cost of debt = Cost of debt * (1 - Tax rate)
Since the question doesn't provide a tax rate, we'll assume a standard rate of 35%:
After-tax cost of debt = 9.00% * (1 - 0.35) = 9.00% * 0.65 = 5.85%
3. Calculate the weighted average cost of capital:
WACC = (Debt weight * After-tax cost of debt) + (Equity weight * Cost of equity)
Cost of equity is given as 16.00%.
WACC = (0.4 * 5.85%) + (0.6 * 16.00%)
WACC = 2.34% + 9.60%
WACC = 11.94%
Rounding the final answer to 2 decimal places, the firm's weighted average cost of capital (WACC) is 11.94%.
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Required Information
Problem 10-6A Record equity transactions and prepare the stockholders' equity section (LO10-2, 10-3, 10- 4, 10-5, 10-7)
[The following information applies to the questions displayed below]
Major League Apparel has two classes of stock authorized: 5%, $10 par preferred, and $1 par value common. The following transactions affect stockholders' equity during 2021, its first year of operations:
January 2 Issue 100,000 shares of common stock for $63 per share.
February 14 Issue 53,000 shares of preferred stock for $11 per share.
May 8 Purchase 10, eee shares of its own common stock for $53 per share.
May 31 Resell 5,000 shares of treasury stock for $58 per share.
December 1 Declare a cash dividend on its common stock of $0.65 per share and a $26, see (5% of par value) cash dividend on its preferred stock payable to all stockholders of record on December 15. The dividend is payable on December 30. (Hint: Dividends are not paid on treasury stock.)
December 30 Pay the cash dividends declared on December 1.
Problem 10-6A Part 2
2. Prepare the stockholders' equity section of the balance sheet as of December 31, 2021. Net Income for the year was $483,000. (Amounts to be deducted should be Indicated by a minus sign.)..
Answer is complete but not entirely correct. M
AJOR LEAGUE APPAREL
Balance Sheet
(Stockholders' Equity Section)
December 31, 2021
Stockholders' Equity:
Preferred Stock $ 530,000
Common Stock 100,000
Additional Paid-in Capital 6.278,000
Total Paid-in Capital 6.908,000
Retained Earnings 1
Treasury Stock (265,000)
Total Stockholders' Equity $ 6,643,001
Corrections justification: Preferred Stock: By dividing the number of preferred shares issued (53,000) by the issuance price per share ($11), the right value is $583,000. Total Paid-in Capital: The actual total is $6,961,000, which is obtained by combining the Preferred Stock and Common Stock quantities. Retained Earnings: The net income for the year, which is stated as $483,000, should be added to retained earnings. Equity owned by all stockholders: By combining the figures for Total Paid-in Capital, Retained Earnings, and Treasury Stock, the actual number comes out to $7,179,000.
The ownership certificates of any corporation are referred to as "stocks" in general. On the other hand, a share alludes to the stock certificate of a certain business. A shareholder is someone who owns stock in a certain corporation.
Stocks come in two varieties: common and favored. Stocks signify ownership in a publicly traded business. You acquire ownership of a corporation when Preferred you purchase its shares. You own 1% of a corporation, for instance, if you purchase 1,000 of its 100,000 shares.
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Mason just won the Utah lottery. He has the choice of $58,500,000 today or a 30- year annuity of $6,710,000, with the first payment coming one year from today. What rate of return is built into the annuity?
a. 10.96%
b. 11.14%
c. 29.06%
d. 12.41%
Let us suppose that the interest rate for the annuity is i. Mason has won $58,500,000 and is given a choice to either get that today or a 30-year annuity of $6,710,000 with the first payment coming after one year from today.
To find out what rate of return is built into the annuity, we can equate the present value of the 30-year annuity to the $58,500,000. Let's use the formula of the Present Value of an Annuity to do so:Present value of an annuity = Payment amount * [1 - (1 + i)⁻ⁿ] / i, where n is the total number of payments.We are given that the payment amount is $6,710,000 and the total number of payments, n = 30. The first payment is after one year from today, so we have to discount all payments by one year (i.e. use 29 in place of n).Now, we need to equate this with the $58,500,000. So, we get:58,500,000 = 6,710,000 * [1 - (1 + i)⁻²⁹] / iNow, we need to solve this equation for i using a financial calculator. We get i ≈ 0.1114, which is approximately 11.14%. Therefore, the answer is (b) 11.14%.
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consumer has $300 to spend on goods X and Y. The market prices of these two goods are P(x)=15 and P(y)=5.
A) What is the market rate of substitution between goods X and Y?
B) Illustrate the consumer's opportunity set in a carefully labeled diagram.
C) Show how the consumer's opportunity set changes if income increases by $300. How does the $300 increase in income alter the market rate of substitution between goods X and Y?
A) The market rate of substitution between goods X and Y is 3 units of Y per unit of X.
What is the consumer's opportunity?B) The consumer's opportunity set is a budget line that shows all the combinations of goods X and Y that the consumer can afford to buy with their income of $300. The budget line is downward sloping, indicating that the consumer must give up units of Y to acquire units of X.
C) If the consumer's income increases by $300, the budget line will shift out, allowing the consumer to purchase more of both goods X and Y. The market rate of substitution between goods X and Y will remain unchanged, as it is determined by the relative prices of the goods.
Here is a diagram of the consumer's opportunity set:
Price of X (Px) = 15
Price of Y (Py) = 5
Income = $300
Budget line:
Y = -3X + 600
(0, 600)
(300, 300)
(600, 0)
If the consumer's income increases by $300, the budget line will shift out to:
Price of X (Px) = 15
Price of Y (Py) = 5
Income = $600
Budget line:
Y = -6X + 1200
(0, 1200)
(600, 600)
(1200, 0)
Clearly, the affordability of both commodities X and Y has increased for the consumer. The unaltered market rate of substitution of goods X and Y is set by the prices of the respective products
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Complete the flexible budget variance analysis by filling in the blanks in the partial flexible budget performance report for 9,000 travel locks for Garrett, Inc. (Click the icon to view the report.) (For variances with a $0 value, make sure to enter "O" in the appropriate cells.) Data Table Garrett, Inc. Flexible Budget Performance Report (partial) For the Month Ended April 30, 2018 Actual Flexible Budget Flexible Garrett, Inc. Flexible Budget Performance Report (partial) For the Month Ended April 30, 2018 Results Variance Budget Units 9,000 Actual Flexible Budget Flexible Variance Results $ 9,000 126,000 49,400 Sales Revenue Budget 144,000 52,000 Units Variable Costs Contribution Margin (a) (b) Sales Revenue $ (c) $ 92,000 16,300 76,600 15,300 Fixed Costs (d) Variable Costs Contribution Margin 9,000 144,000 52,000 92,000 16,300 75,700 9,000 126,000 49,400 76,600 15,300 61,300 75,700 $ 61,300 Operating Income Fixed Costs (6 (h) 0) (g) (i) (k) $ Operating Income $ Print Print Done Done
The completed flexible budget variance analysis:
Garrett, Inc.
Flexible Budget Performance Report (partial)
For the Month Ended April 30, 2018
Actual Flexible Budget Flexible Variance
Results Budget Units 9,000 9,000
Sales Revenue $126,000 $144,000 $(18,000)
Variable Costs $49,400 $52,000 $(2,600)
Contribution Margin $76,600 $92,000 $(15,400)
Fixed Costs $61,300 $61,300 $0
Operating Income $15,300 $30,700 $(15,400)
The flexible budget variance analysis shows that Garrett, Inc. had a favorable sales variance of $18,000 and an unfavorable variable cost variance of $2,600. The favorable sales variance was due to the company selling more units than expected. The unfavorable variable cost variance was due to the company paying more per unit than expected. The unfavorable variable cost variance offset the favorable sales variance, resulting in an overall unfavorable operating income variance of $15,400.
A flexible budget is a budget that is adjusted for changes in volume. In this case, the flexible budget was adjusted for the actual sales volume of 9,000 units. The flexible budget shows that the company was expected to generate $144,000 in sales, $52,000 in variable costs, and $92,000 in contribution margin. However, the company actually generated $126,000 in sales, $49,400 in variable costs, and $76,600 in contribution margin.
The difference between the actual results and the flexible budget is the variance. The favorable sales variance of $18,000 was due to the company selling more units than expected. The unfavorable variable cost variance of $2,600 was due to the company paying more per unit than expected. The unfavorable variable cost variance offset the favorable sales variance, resulting in an overall unfavorable operating income variance of $15,400.
The flexible budget variance analysis is a valuable tool for managers to use to understand the factors that are impacting their company's profitability. The analysis can help managers to identify areas where they can improve their performance and make adjustments to their budgets in order to achieve their goals.
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The following Information is available on Bruder Inc.'s Product A: Number of units sold each year Selling price per unit Unit product cost Investment in Product A Required return on investment 23,000 $ 70 $ 40 $530,000 11% The company uses the absorption costing approach to cost-plus pricing described in the text. Based on these data, the total selling and administrative expenses each year are: (Round your intermediate calculations to 2 decimal places.) Multiple Choice O $690,000 $631,700 $283,000 $390,000
The company uses the absorption costing approach to cost-plus pricing described in the text. The answer is B.The given data is as follows:Number of units sold each year = 23,000 Selling price per unit = $70 Unit product cost = $40 Investment in Product A = $530,000 Required return on investment = 11%.
Based on these data, the total selling and administrative expenses each year are $631,700.The solution is as follows:We can use the following formula to calculate the total selling and administrative expenses each year:Total Selling and Administrative Expenses = (Selling Price per Unit - Unit Product Cost) x Number of Units Sold Each Year + Fixed Selling and Administrative Expenses.
Fixed Selling and Administrative Expenses = Investment in Product A x Required Return on Investment = $530,000 x 11% = $58,300.Substituting the given values into the above formula, we have:Total Selling and Administrative Expenses = ($70 - $40) x 23,000 + $58,300= $630,000 + $1,700= $631,700.
Therefore, the total selling and administrative expenses each year are $631,700.
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What is the motivation behind the accounting for specific government accounting activities within separate funds such as a special revenue fund, capital projects fund, debt service fund, etc.? Some might argue this breadth of accounting is cumbersome and rather time-consuming. Do you agree with this statement? Please explain your reasoning.
The motivation behind accounting for specific government accounting activities within separate funds such as a special revenue fund, capital projects fund, debt service fund, etc is to account for the monies received and expended in specific activities.
As per the Generally Accepted Accounting Principles (GAAP) which are followed by all the government accounting activities, the accounting for special activities is tracked separately from accounting for the general funds.
This is due to the fact that the activities conducted within special funds have restrictions on the manner in which they can be utilized.Thus, the creation of separate accounting funds ensures that monies are accounted for in accordance with the legal restrictions and the requirements for each specific fund.
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The federal reserve controls
The exchange rate
The price level.
The exchange rate and the price level
GDP growth
None of the above
In the neoclassical growth model, a
The Federal Reserve controls the exchange rate and the price level.
What is the Federal Reserve?The Federal Reserve is the central bank of the United States. It is a quasi-governmental organization that supervises and regulates financial institutions. The Federal Reserve System, also known as the Federal Reserve, was created by Congress in 1913 to provide the nation with a stable and flexible financial system.The Federal Reserve, being the central bank of the United States, controls many aspects of the economy. These include the exchange rate and the price level. Therefore, the answer to the question is the exchange rate and the price level.
A brief on neoclassical growth model
The neoclassical growth model is a framework for understanding long-run economic growth in market economies. The model is based on the principle that growth is driven by productivity improvements and technological progress, both of which can be affected by policies that encourage investment in human capital and research and development (R&D). The model is often used by economists to evaluate the impact of different policy choices on long-term growth rates and standards of living for different countries.
Therefore, the correct answer is exchange rate and price level.
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Complete question is:
"content loaded
The federal reserve controls
The exchange rate
The price level.
The exchange rate and the price level
GDP growth
None of the above
In the neoclassical growth model, write a brief note."
How do you define success?
Answer:
if ur happy then ig I could say ur successful
if made it to the top I could say ur successful
if u reached the destination if ur dream I would say ur successful
At December 31, Hawke Company reports the following results for its calendar year. Problem 7-2A Estimating and reporting bad debts P2 P3 Cash sales. $1,905,000 Credit sales ....... .. .. **** $5,682,000 In addition, its unadjusted trial balance includes the following items. Accounts receivable........... $1.270.100 debit Allowance for doubtful accounts ..... $16,580 debit Check Bad Debts Expense. (10) $85.230. (1c) $80,085 Required 1. Prepare the adjusting entry to record bad debts under each. sep assumption. a. Bad debts are estimated to be 1.5% of credit sales. b. Bad debts are estimated to be 1% of total sales. c. An aging analysis estimates that 5% of year-end accounts receivable are uncollectible. 2. Show how Accounts Receivable and the Allowance for Doubtful Accounts appear on its December 31 balance sheet given the facts in part la. 3. Show how Accounts Receivable and the Allowance for Doubtful Accounts appear on its December 31 balance sheet given the facts in part lc.
The adjusting entries to record bad debts under each assumption are as follows:
a. Bad debts estimated at 1.5% of credit sales:
Bad Debts Expense .............................. $85,230
Allowance for Doubtful Accounts ............ $85,230
b. Bad debts estimated at 1% of total sales:
Bad Debts Expense .............................. $57,820
Allowance for Doubtful Accounts ............ $57,820
c. Aging analysis estimates 5% of year-end accounts receivable are uncollectible:
Bad Debts Expense .............................. $63,505
Allowance for Doubtful Accounts ............ $63,505
On its December 31 balance sheet, given the facts in part 1a:
Accounts Receivable ................... $1,270,100
Allowance for Doubtful Accounts .... $85,230 (contra-asset)
On its December 31 balance sheet, given the facts in part 1c:
Accounts Receivable ................... $1,270,100
Allowance for Doubtful Accounts .... $63,505 (contra-asset)
In both cases, the balance sheet reflects the net value of Accounts Receivable after considering the Allowance for Doubtful Accounts as a deduction to account for potential bad debts.
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Which of the following statements regarding defined benefit plans is false? Multiple Choice The vesting period can be based on a graded or cliff schedule. The benefits are based on a fixed formula. Em
Employees bear the investment risks of the plan is false regarding defined benefit plans. Option C is the correct answer.
A defined-benefit plan is an employer-sponsored retirement program where benefits are calculated for employees using a formula that takes into account a number of variables, including length of service and pay history. Option C is the correct answer.
The company is in responsibility of managing the plan's investments and risk, and frequently does this by working with a third-party investment manager. Employees frequently are not permitted to withdraw money at will, unlike with a 401(k) plan. Individuals are instead eligible to receive their benefit as a lifelong annuity or, in some circumstances, as a lump sum after they reach a particular age as stated by the plan's conditions.
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The complete question is, "Which of the following statements regarding defined benefit plans is false?
A. The benefits are based on a fixed formula.
B. The vesting period can be based on a graded or cliff schedule.
C. Employees bear the investment risks of the plan.
D. Employers are generally required to make annual contributions to meet expected future liabilities.
What field should be moved out of a table if Customer ID is the primary key? address O package size O phone number O customer name
Answer:
package size
Explanation:
all the others are stuff abt the customer
Answer:
B
Explanation:
A firm has two divisions: one is very risky and the other is much less risky. The company uses its investors' overall required rate of return to evaluate its investment projects. It is most likely that the firm will become: (more/less risky) and (more or less valuable).
less; more
Not sure
more; more
more; less
less; less
It is most likely that the firm will become less risky and more valuable by diversifying its operations across a risky division and a less risky division.
The correct answer would be more; less.
In this scenario, the firm has two divisions—one that is very risky and another that is much less risky. The company evaluates its investment projects based on the investors' overall required rate of return.
Considering that the firm has both a risky division and a less risky division, it is most likely that the firm will become less risky and more valuable.
By diversifying its operations across two divisions with differing risk profiles, the firm can benefit from risk reduction at the overall company level. The risky division's higher risk is likely offset by the less risky division's lower risk. This diversification strategy reduces the overall riskiness of the firm.
Moreover, by reducing its overall risk, the firm becomes more attractive to investors. Investors generally prefer less risky investments, and by offering a combination of both risky and less risky operations, the firm can appeal to a broader investor base. This increased attractiveness can lead to a higher valuation for the firm, as investors are willing to pay a premium for lower-risk investments.
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