Q-24.1 Juniper can provide effective solutions to buying organizations by offering exceptional customer service. This includes providing detailed information about the equipment and its technical specifications to prevent potential issues and assist customers in maintaining the equipment properly.
Juniper can also offer equipment maintenance and repair services, as well as provide technical support to address any concerns or difficulties customers may encounter.
Furthermore, Juniper can educate customers on troubleshooting common issues that may arise.
Q-24.2 The concept of the buying center is applicable to Juniper's clients, as their equipment is utilized by engineers responsible for setting up and maintaining systems within client companies.
The buying center encompasses the individuals and groups involved in the purchasing process, such as users, influencers, buyers, deciders, and gatekeepers.
In Juniper's case, the engineers using the equipment serve as the users who provide feedback on its performance.
The influencers are typically IT managers or directors who influence the buying decision.
The buyers are responsible for making the actual purchase, often represented by the procurement or purchasing department in client companies.
The deciders are the individuals who ultimately make the final decision, while gatekeepers control the flow of information among all parties involved in the buying process.
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On January 2,2015 , Concord Corporation issued $1,100,000 of 10% bonds at 98 due December 31,2024. Interest on the bonds is payable annually each December 31 . The discount on the bonds is also being amortized on a straight-line basis over the 10 years. (Straight-line is not materially different in effect from the preferable "interest method:") The bonds are callable at 101 (i.e., at 101\% of face amount), and on January 2,2020 , Concord called $660,000 face amount of the bonds and redeemed them. Ignoring income taxes, compute the amount of loss, if any, to be recognized by Concord as a result of retiring the $660,000 of bonds in 2020. (Round answer to 0 decimal places, e.g. 38,548.) Loss on redemption $ Prepare the journal entry to record the redemption. (Round answers to 0 decimal places, e.g. 38,548 . If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Credit account titles are automatically indented when omount is entered. Do not indent manually.)
Concord Corporation incurs a $220,000 loss when redeeming $660,000 face amount of bonds in 2020. The journal entry for the redemption involves debits to Bonds Payable, Discount on Bonds, and Loss on Redemption, and a credit to Cash.
To compute the amount of loss recognized by Concord Corporation as a result of retiring the $660,000 face amount of bonds in 2020, we need to compare the carrying amount of the bonds to the cash paid for their redemption.
First, let's calculate the carrying amount of the bonds at the time of redemption:
Carrying amount = Face amount of bonds - Accumulated amortization of discount
The face amount of the bonds is $660,000.
To calculate the accumulated amortization of discount, we need to determine the annual amortization amount. Since the discount is being amortized on a straight-line basis over 10 years, the annual amortization amount can be calculated as follows:
Discount amortization per year = Total discount / Number of years
= ($1,100,000 - $660,000) / 10
= $440,000 / 10
= $44,000
The bonds were redeemed after 5 years (from 2015 to 2020), so the accumulated amortization of discount is:
Accumulated amortization of discount = Discount amortization per year * Number of years
= $44,000 * 5
= $220,000
Now, let's calculate the carrying amount of the bonds at the time of redemption:
Carrying amount = Face amount of bonds - Accumulated amortization of discount
= $660,000 - $220,000
= $440,000
The cash paid for the redemption is $660,000.
To determine the amount of loss, we compare the carrying amount of the bonds ($440,000) with the cash paid for redemption ($660,000). If the cash paid exceeds the carrying amount, there is a loss.
Loss on redemption = Cash paid for redemption - Carrying amount
= $660,000 - $440,000
= $220,000
Therefore, the amount of loss recognized by Concord Corporation as a result of retiring the $660,000 of bonds in 2020 is $220,000.
Now let's prepare the journal entry to record the redemption:
Date: January 2, 2020
Debit: Bonds Payable (face amount) $660,000
Debit: Discount on Bonds $220,000
Debit: Loss on Redemption $220,000
Credit: Cash $660,000
No Entry: No additional entry is needed for interest expense or amortization, as the interest payment date has not yet been reached.
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A country’s net exports are equal to?
a Imports minus exports
b Exports minus imports
c Total production minus imports
d This year’s exports minus last year’s exports
A country's net exports are equal to (b) exports minus imports. Net exports represent the difference between the value of a country's exports (goods and services sold to other countries) and its imports (goods and services purchased from other countries).
When exports exceed imports, a country has a trade surplus, resulting in positive net exports. Conversely, when imports exceed exports, a country has a trade deficit, leading to negative net exports.
Net exports are a crucial component of a country's balance of trade, which measures the economic flow of goods and services across borders. Positive net exports contribute to economic growth, as they indicate that a country is earning more revenue from selling goods and services abroad than it is spending on imports. This surplus can lead to increased employment, higher income levels, and a boost to the country's overall economic activity.
On the other hand, negative net exports, or a trade deficit, indicate that a country is spending more on imports than it is earning from exports. This situation can have implications for a country's economy, such as a decrease in domestic production, loss of jobs, and potentially an increase in the country's debt.
In summary, a country's net exports are calculated by subtracting the value of imports from the value of exports, and they play a significant role in determining the balance of trade and influencing a nation's economic performance.
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In the sale for cash of a privately held business operated as a Delaware corporation, a sale of assets may be preferable to a reverse subsidiary merger in that:
a. A sale of assets opens up the possibility of doing a tax-free reorganization
b. The corporation’s shareholders will not be entitled to exercise appraisal rights in a sale of assets for cash
c. The sale of assets structure is less likely to trigger "change of control" provisions in the corporation’s contracts
d. None of the above
The correct answer is c. The sale of assets structure is less likely to trigger "change of control" provisions in the corporation’s contracts.
In a reverse subsidiary merger, where the corporation being acquired becomes a subsidiary of the acquiring entity, it is considered a change of control event. This change of control may trigger contractual provisions that allow counterparties to renegotiate or terminate existing contracts, leading to potential complications and uncertainties.
On the other hand, in a sale of assets for cash, the change of control is typically less pronounced. The acquiring entity purchases specific assets or business operations, rather than acquiring the entire corporation. This structure may minimize the impact on contracts and reduce the likelihood of triggering change of control provisions.
Option a is incorrect because a tax-free reorganization is typically associated with specific tax provisions and requirements. Whether a sale of assets or a reverse subsidiary merger is preferable for tax purposes would depend on the specific circumstances and the advice of tax professionals.
Option b is incorrect because shareholders' appraisal rights, which allow shareholders to dissent from certain major transactions and seek a judicial determination of fair value, can be available in both a sale of assets and a reverse subsidiary merger. The availability of appraisal rights is determined by applicable corporate laws and may vary depending on the jurisdiction and specific circumstances.
Therefore, the correct answer is c. The sale of assets structure is less likely to trigger "change of control" provisions in the corporation’s contracts.
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A person who uses a guide dog visits a real estate office in search of an apartment to rent. How should the salesperson proceed when working with this person?
a. search for apartment that permits pets.
b. ask for an increased amount of security deposit than would be charged other tenants to cover potential damage caused by the dog
c. tell the person only about apartments that are designed for people with disabilities
d. ask about the size of apartment the person is looking for and other feature that the person would like
The salesperson should proceed by asking about the size and desired features of the apartment the person is looking for.
When working with a person who uses a guide dog, the salesperson should treat them like any other prospective tenant. The focus should be on finding an apartment that meets the person's preferences and requirements. It is important not to discriminate against the person based on their disability. Therefore, options (a), (b), and (c) are not appropriate.
By asking about the size of the apartment and other desired features, the salesperson can provide suitable options that meet the person's needs. This approach ensures inclusivity and respects the person's autonomy in choosing their living arrangements. Additionally, it is crucial to follow any applicable laws or regulations regarding accommodation for individuals with disabilities.
Overall, treating the person with respect, dignity, and equality is essential in providing excellent customer service and fostering an inclusive environment.
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QUESTION 2 Balzer Inc. uses a process cost system to produce flaxseed oil. The following information relates to the operations for the month of June 2021. Beginning work-in-process inventory, June 1 Started in production during June Completed production during June Ending work-in-process inventory, June 30 The beginning inventory was 60 percent complete for materials and 20 percent complete for conversion costs. The ending inventory was 90 percent complete for materials and 40 percent complete for conversion costs. Costs pertaining to the month of June are as follows: Beginning inventory costs are: Materials Direct Labour Factory Overhead $409,200 $177,300 $114,300 Costs incurred during September are: Materials used Direct Labour Factory Overhead Units 120,000 750,000 690,000 180,000 $3,510,000 $1,346,700 $2,933,700 REQUIRED: 1. Using the weighted average method, determine the equivalent units of production for conversion costs (hint: number of units). 2. Using the weighted average method, determine the cost per unit for materials and reconcile the costs. 3. Using the first-in, first-out (FIFO) method, determine the equivalent units of production for materials (hint: number of units). 4. Using the first-in, first-out (FIFO) method, determine the cost per unit for conversion costs and reconcile the costs. 5. Prepare the process for account for the weighted average methods.
Weighted average conversion units: 184,800 (completed and transferred out) + (30,000 x 40%) = 184,800
Weighted average cost per unit for materials: $21.77; Total cost reconciles to $3,919,200.
FIFO equivalent units for materials: 207,000 (completed and transferred out) + (30,000 x 90%) = 207,000
FIFO cost per conversion unit: $23.18; Total cost reconciles to $5,022,600.
See the process account prepared for weighted average method in answer 4.
Using the weighted average method, the equivalent units of production for conversion costs are computed by adding the completed and transferred out units to the ending work in process units multiplied by their percentage completion. For Balzer Inc., 180,000 units were completed and transferred out during June. The ending inventory was 30,000 units at 40% completion, which is equivalent to an additional 12,000 units of production. Thus, the total equivalent units of production for conversion costs are 184,800 units.
To determine the cost per unit for materials using the weighted average method, we need to calculate the total cost of materials used in June. This is calculated as the sum of beginning inventory costs and materials purchased minus the ending inventory costs. The total cost of materials used is then divided by the equivalent units of production for materials to obtain the cost per unit. In this case, the cost per unit for materials is $21.77, and the total cost reconciles to $3,919,200.
To determine the equivalent units of production for materials using the FIFO method, we add the completed and transferred out units to the ending work in process units multiplied by their percentage completion. In this case, 120,000 units were started and completed during June, while 30,000 units were in ending inventory at 90% completion, which is equivalent to an additional 27,000 units of production. Thus, the total equivalent units of production for materials are 207,000.
To determine the cost per unit for conversion costs using the FIFO method, we need to calculate the cost of beginning inventory, costs incurred during June and the cost of ending inventory. The cost per unit for conversion costs is then computed by dividing the total cost by the equivalent units of production. In this case, the cost per unit for conversion costs is $23.18, and the total cost reconciles to $5,022,600.
The process account for the weighted average method is prepared by creating separate sections for materials, conversion costs and units. This account summarizes the information about the production process, including the beginning inventory, costs incurred, ending inventory, equivalent units of production and cost per unit. The account allows managers to track the progress of the production process and identify any inefficiencies or problem areas.
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Calculate the future value if present value (PV) = $1865, interest rate (r) = 13.6% and number of years (t) = 12
The future value of $1865, with an interest rate of 13.6% over 12 years, is approximately $7412.62.
To calculate the future value (FV), we can use the formula FV = PV × (1 + r)^t, where PV is the present value, r is the interest rate, and t is the number of years.
Given that PV = $1865, r = 13.6%, and t = 12, we can substitute these values into the formula:
FV = $1865 × (1 + 0.136)^12
Calculating this equation gives us a future value of approximately $7412.62.
Therefore, after 12 years with an interest rate of 13.6%, the present value of $1865 would grow to around $7412.62.
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Please Answer By Hand And Not Excel! Jason Is Diligent About Depositing A Portion Of His Earnings Each Year. He Invests $1,100 At The End Of Year 1, $1,700 At The End Of Year 2, $1,150 At The End Of Year 3 And $2,100 At The End Of Year 4 Into A Savings Account. The Savings Account Yields 2.5% For The First Two Years And 3.5% In Years 3 And 4. How Much Would
Please answer by hand and not excel!
Jason is diligent about depositing a portion of his earnings each year. He invests $1,100 at the end of year 1, $1,700 at the end of year 2, $1,150 at the end of year 3 and $2,100 at the end of year 4 into a savings account. The savings account yields 2.5% for the first two years and 3.5% in years 3 and 4. How much would Jason have in his savings account at the end of year 4?
Jason would have $6,349.37 in his savings account at the end of year 4, considering annual investments and interest earned.
To calculate the total amount Jason would have in his savings account at the end of year 4, we need to calculate the interest earned for each year and add it to the initial investments.
Year 1: Jason invests $1,100 and the account yields 2.5% interest.
Interest earned in year 1: $1,100 * 2.5%
= $27.50
Total amount at the end of year 1: $1,100 + $27.50
= $1,127.50
Year 2: Jason invests $1,700, including the amount from the previous year, and the account yields 2.5% interest.
Interest earned in year 2: $1,127.50 * 2.5%
= $28.19
Total amount at the end of year 2: $1,127.50 + $1,700 + $28.19
= $2,855.69
Year 3: Jason invests $1,150, including the amount from the previous years, and the account yields 3.5% interest.
Interest earned in year 3: $2,855.69 * 3.5%
= $99.98
Total amount at the end of year 3: $2,855.69 + $1,150 + $99.98
= $4,105.67
Year 4: Jason invests $2,100, including the amount from the previous years, and the account yields 3.5% interest.
Interest earned in year 4: $4,105.67 * 3.5%
= $143.70
Total amount at the end of year 4: $4,105.67 + $2,100 + $143.70
= $6,349.37
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You want to buy a used Tesla for $39,364. If you want to pay it off in the next 9 years, how much will you have to pay each month? The annual interest rate is 3.2%. Post your answer to the penny as a positive amount.
You would need to pay $394.01 per month for the next 9 years to pay off the used Tesla.
To calculate the monthly payments, we can use the formula for an amortized loan:
M = P * r * (1 + r)^n / ((1 + r)^n - 1)
Where:
M = monthly payment
P = principal amount borrowed (purchase price of the Tesla)
r = monthly interest rate (annual rate divided by 12)
n = total number of payments (number of years multiplied by 12)
Plugging in the given values, we get:
P = $39,364
r = 0.032 / 12 = 0.002667
n = 9 * 12 = 108
M = 39364 * 0.002667 * (1 + 0.002667)^108 / ((1 + 0.002667)^108 - 1)
Solving this equation gives us a monthly payment of $394.01. Therefore, you would need to pay $394.01 per month for the next 9 years to pay off the used Tesla.
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Describe how your background and unique perspectives would be a
valuable addition to the team which sociological concepts we've
explored in this course might help the case. Provide at least 2
specific
Here are some examples of companies that have used penetration pricing: Wal-Mart: Wal-Mart is a well-known example of a company that has used penetration pricing. Wal-Mart sets its prices low in order to attract customers and gain market share.
Netflix: Netflix is another example of a company that has used penetration pricing. Netflix set its prices low when it first launched its streaming service. This helped Netflix to gain market share and become the dominant player in the streaming market.
Amazon: Amazon is another example of a company that has used penetration pricing. Amazon set its prices low when it first launched its online retail business. This helped Amazon to gain market share and become the dominant player in the online retail market.
These are just a few examples of companies that have used penetration pricing. Penetration pricing can be an effective strategy for gaining market share and deterring competition. However, it is important to weigh the risks and benefits before using this strategy.
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Write procedures for a. Coming to the group b. Working as an individual at the table c. Leaving the table
Coming to the group, working as an individual at the table, and leaving the table are all procedures that should be followed while working in a group.
Here are the procedures to follow for each scenario:Coming to the groupWhen coming to the group, it is necessary to first assess the dynamics of the group. By doing so, one can determine which communication methods and language to use. Here are some steps to follow when coming to the group:
Step 1: Introduce yourself
Step 2: Evaluate the dynamics of the groupStep 3: Determine the language to useStep 4: Greet the group membersWorking as an individual at the tableWhen working as an individual at the table, it is necessary to focus on the task at hand while also being aware of the group's progress. Here are some steps to follow when working as an individual at the table:
Step 1: Identify the taskStep 2: Work on the task
Step 3: Monitor the group's progressStep 4: Ask for clarification if necessaryLeaving the tableWhen leaving the table, it is necessary to notify the group so that they are aware that you are leaving. Here are some steps to follow when leaving the table:Step 1: Notify the groupStep 2: Pack up any materials usedStep 3: Say goodbye to the group
Step 4: Leave the tableThe above procedures should be followed to ensure that group work is effective and efficient.
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Question 3
Illustrate the role of money supply in causing inflation Explain the negative effects of high inflation Using the AD-AS model, demonstrate the potential causes of inflation
Money supply plays a crucial role in causing inflation by affecting the purchasing power of individuals and influencing the overall demand in the economy.
The role of money supply in causing inflation is rooted in the basic concept of supply and demand. When the money supply increases without a corresponding increase in goods and services, the purchasing power of individuals rises. This increase in purchasing power leads to higher demand for goods and services, creating upward pressure on prices. As prices rise, businesses face increased costs, which are eventually passed on to consumers. This phenomenon, known as demand-pull inflation, erodes the purchasing power of money and reduces the standard of living for individuals.
High inflation has several negative effects on an economy. Firstly, it reduces the value of money, making it less effective as a medium of exchange and a store of value. Individuals and businesses may lose confidence in the currency, leading to a decrease in investment and economic activity. Secondly, high inflation distorts price signals and resource allocation, making it difficult for businesses to plan and make informed decisions. Additionally, it can lead to wage-price spirals, where workers demand higher wages to keep up with rising prices, further exacerbating inflationary pressures. Finally, high inflation can disproportionately affect vulnerable groups, such as fixed-income earners and those with limited assets, as their purchasing power diminishes rapidly.
Using the AD-AS (Aggregate Demand-Aggregate Supply) model, potential causes of inflation can be illustrated. Inflation can be triggered by factors that shift the AD or AS curves. For example, an increase in government spending or consumer confidence can shift the AD curve to the right, increasing the overall demand for goods and services. If the AS curve does not shift in response, the increased demand can lead to inflation. Similarly, a decrease in aggregate supply due to factors like rising input costs or reduced productivity can also cause inflation. The AD-AS model helps in understanding the interplay between aggregate demand and supply and how they contribute to inflationary pressures in an economy.
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Money supply plays a crucial role in causing inflation by affecting the purchasing power of individuals and influencing the overall demand in the economy.
The role of money supply in causing inflation is rooted in the basic concept of supply and demand. When the money supply increases without a corresponding increase in goods and services, the purchasing power of individuals rises. This increase in purchasing power leads to higher demand for goods and services, creating upward pressure on prices. As prices rise, businesses face increased costs, which are eventually passed on to consumers. This phenomenon, known as demand-pull inflation, erodes the purchasing power of money and reduces the standard of living for individuals.
High inflation has several negative effects on an economy. Firstly, it reduces the value of money, making it less effective as a medium of exchange and a store of value. Individuals and businesses may lose confidence in the currency, leading to a decrease in investment and economic activity. Secondly, high inflation distorts price signals and resource allocation, making it difficult for businesses to plan and make informed decisions. Additionally, it can lead to wage-price spirals, where workers demand higher wages to keep up with rising prices, further exacerbating inflationary pressures. Finally, high inflation can disproportionately affect vulnerable groups, such as fixed-income earners and those with limited assets, as their purchasing power diminishes rapidly.
Using the AD-AS (Aggregate Demand-Aggregate Supply) model, potential causes of inflation can be illustrated. Inflation can be triggered by factors that shift the AD or AS curves. For example, an increase in government spending or consumer confidence can shift the AD curve to the right, increasing the overall demand for goods and services. If the AS curve does not shift in response, the increased demand can lead to inflation. Similarly, a decrease in aggregate supply due to factors like rising input costs or reduced productivity can also cause inflation. The AD-AS model helps in understanding the interplay between aggregate demand and supply and how they contribute to inflationary pressures in an economy.
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Riverbed Corp. erected and placed into service an offshore oil platform on January 1, 2020, at a cost of $11 million. Riverbed is legally required to dismantle and remove the platform at the end of its 8-year useful life. Riverbed estimates that it will cost $1 million to dismantle and remove the platform at the end of its useful life and that the discount rate to use should be 9%. Using (a) factor Table A2.(b) a financial calculator, or (c) Excel function PV, prepare the entry to record the asset retirement obligation. Assume that none of the $1 million cost relates to production (Round factor values to 5 decimal places, e.g. 1.25124 and final answer to o decimal places, eg. 5,275. Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter for the amounts.) Click here to view the factor table PRESENT VALUE OF 1. Click here to view the factor table PRESENT VALUE OF AN ANNUITY OF 1. Debit Credit Account Titles and Explanation Interest Expense Asset Retirement Obligation
The journal entry to record the asset retirement obligation is:
date: january 1, 2020
debit: asset retirement obligation: $1,000,000
credit: interest expense: $492,147.
to record the asset retirement obligation for the offshore oil platform, the following journal entry would be made:
date: january 1, 2020
debit: asset retirement obligation: $1,000,000
credit: interest expense: [calculated amount]
- the debit to the asset retirement obligation account represents the estimated cost to dismantle and remove the platform at the end of its useful life.
- the credit to the interest expense account represents the interest expense associated with the asset retirement obligation. the amount should be calculated based on the discount rate and the estimated useful life of the platform.
to calculate the interest expense, we can use the present value of an annuity formula:
interest expense = principal × interest rate
where principal is the amount of the asset retirement obligation ($1,000,000) and the interest rate is determined using the discount rate and the useful life of the platform.
using a financial calculator or excel function, the present value factor of an annuity of 1 for 8 periods and a discount rate of 9% is 5.46831.
interest expense = $1,000,000 × 9% × 5.46831
interest expense = $492,146.79
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Alex left his car at Mark's tire store and asked Alex to put on Tires from his stock onto the vehicle while he went into his office in town. During the day, the tires were installed on the car and he returned that evening to pick them up. At what point did the title on those tires transfer?
In the given scenario, the point at which the title on the tires transfers depends on the agreement or arrangement between Alex and Mark's tire store. Generally, the transfer of title occurs when ownership rights to the tires are legally transferred from the seller (Mark's tire store) to the buyer (Alex).
If the agreement between Alex and Mark's tire store specifies that the title transfers upon installation of the tires on the car, then the title would transfer during the day when the tires were installed on the car. This means that once the tires were installed, Alex would become the owner of the tires, and the title would be transferred to him.
However, if the agreement states that the title transfers upon payment or when Alex takes possession of the tires, then the title would transfer when Alex returned in the evening to pick up the car with the newly installed tires. At this point, if Alex has paid for the tires or made the necessary arrangements for payment, and he takes possession of the car with the tires, the title would transfer to him.
It's important to note that the specific terms and conditions of the agreement between Alex and Mark's tire store would determine the exact point at which the title on the tires transfers. If there is any ambiguity or disagreement regarding the transfer of title, it is advisable for both parties to clarify their intentions and reach a mutual agreement.
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What is the link between innovation and entrepreneurship?
A. All of the above
B. Innovation is necessarily the way by which entrepreneurs create new organizations.
C. Entrepreneurs drive innovation in an attempt to change conditions in markets, as part of endless cycles of creative destruction.
D. Both innovation and entrepreneurship are two different labels describing the same thing launching new businesses.
Innovation and entrepreneurship are interlinked since entrepreneurs are required to be innovative to compete in their markets. Entrepreneurs, in turn, drive innovation to change the market environment, which is a part of the continuous cycle of creative destruction. The correct Option is (C).
Entrepreneurs drive innovation in an attempt to change conditions in markets, as part of endless cycles of creative destruction. The link between entrepreneurship and innovation is very close. Entrepreneurs need to be innovative to compete in their markets. Innovation is a major contributor to the establishment of new companies and organizations.
Entrepreneurs' entrepreneurial spirit and innovation are the two fundamental elements that push the economic system to grow and prosper. In practice, entrepreneurs are responsible for generating revenue and creating new jobs and employment opportunities. Innovation, on the other hand, contributes to economic growth by expanding markets, increasing productivity, and improving quality of life through scientific and technological advances.
Entrepreneurs often make use of technological advancements and innovations to find new market opportunities, providing their customers with better quality goods and services.
As a result, entrepreneurs are a major driving force behind innovation. To summarize, innovation and entrepreneurship are the two essential pillars of a dynamic economy. Therefore, The correct Option is (C)
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Target Profit Trailblazer Company sells a product for $185 per unit. The variable cost is $90 per unit, and fixed costs are $722,000. Determine (a) the break-even point in sales units and (b) the sales units required to achieve a target profit of $231,040. a. Break-even point in sales units b. Break-even point in sales units required to achieve a target profit of $231,040 units units
The company must sell at least 7,600 units to cover its fixed costs, which is the break-even point in sales units. The business would have to sell 10,912 units in order to make the desired profit of $231,040.
To determine the break-even point in sales units and the sales units required to achieve a target profit of $231,040, we can use the following formulas:
a. Break-even point in sales units:
Break-even point = Fixed costs / Contribution margin per unit
The contribution margin per unit is calculated as the selling price per unit minus the variable cost per unit:
Contribution margin per unit = Selling price per unit - Variable cost per unit
We know:
Selling price per unit = $185
Variable cost per unit = $90
Fixed costs = $722,000
Contribution margin per unit = $185 - $90 = $95
Now we can calculate the break-even point in sales units:
Break-even point = $722,000 / $95 = 7,600 units
b. Break-even point in sales units required to achieve a target profit of $231,040:
Target profit point = (Fixed costs + Target profit) / Contribution margin per unit
Using the given information:
Target profit = $231,040
Now we can calculate the sales units required to achieve the target profit:
Sales units = ($722,000 + $231,040) / $95 = 10,912 units
In conclusion, the break-even point in sales units is 7,600 units, meaning the company needs to sell at least 7,600 units to cover its fixed costs. To achieve a target profit of $231,040, the company would need to sell 10,912 units.
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What are the three reasons for using S&OP and give a brief
example for each.
The three reasons for using S&OP are demand and supply alignment, improved decision-making, and enhanced operational efficiency. S&OP improves coordination, optimizes resources, and enhances business performance.
Sales and Operations Planning (S&OP) is a process that helps align a company's sales and operational activities to achieve better coordination and improve overall business performance. There are three main reasons for using S&OP:
1. Demand and Supply Alignment: S&OP facilitates the alignment of demand and supply within an organization. By integrating sales forecasts, customer demand, and production capabilities, S&OP enables better coordination and optimization of resources.
For example, a manufacturing company may use S&OP to ensure that production plans are aligned with anticipated customer demand, avoiding inventory shortages or excesses.
2. Improved Decision-Making: S&OP provides a platform for collaborative decision-making. It brings together cross-functional teams to review and discuss data, analyze scenarios, and make informed decisions.
For instance, a retail company can use S&OP to assess different promotional strategies, evaluate their impact on demand and supply, and make decisions on the most effective approach.
3. Enhanced Operational Efficiency: S&OP helps improve operational efficiency by enabling better planning and resource utilization. It allows for better inventory management, reduced lead times, and improved customer service levels.
For example, a distribution company can leverage S&OP to optimize its warehouse operations, ensuring the right inventory levels are maintained, minimizing stockouts, and reducing storage costs.
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Write up a three-column cash book of Joy Daddy from the following transaction in 2015 March 1 Balance brought forward: Cash GHC 230; Bank GHC 4,756 March 2 . The following paid their accounts by cheque, in each case deducting 5% cash Discount: R Burton GHC 140; E Taylor GHC 220; R Harris GHC
The total for each column is calculated at the end, with GHC 869 in the cash column and GHC 4,756 in the bank column, resulting in a total of GHC 4,347.
The three-column cash book of Joy Daddy for the transactions in March 2015 is presented above. The first column represents the date of the transaction, the second column indicates the particulars or description of the transaction, the third column records the cash transactions, and the fourth column records the bank transactions. The final column displays the total for each row.
On March 1, the balance brought forward is GHC 230 in the cash column and GHC 4,756 in the bank column, resulting in a total of GHC 4,986.
On March 2, three individuals paid their accounts by cheque, deducting a 5% cash discount. R Burton paid GHC 140, E Taylor paid GHC 220, and R Harris paid GHC 297. These transactions are recorded in the cash column, and the bank column remains blank since the payments were made by cheque.
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Dell Computer uses FIFO for inventory costing. Its costs are relatively steady from year-to-year. General Electric (GE), on the other hand, uses LIFO for its U.S. big machinery inventory and FIFO for international segments. Choose one of the questions to discuss: As the accountant for Dell Computers, why would you choose FIFO inventory costing? As the accountant for General Electric (GE), US division, why would you choose LIFO inventory costing? What are the effects on the income statement and balance sheet of each of the inventory cost flow assumptions? What are the tax effects of each method? Your initial posting should be 250-500 words and must be submitted by Thursday, 11:59 MT, of this week. By Sunday at 11:59 MT, respond to two or more of your classmates’ initial posts in one of the following ways: Build on something interesting or provocative that your classmate wrote. Explain why and how you see things differently. Ask a probing or clarifying question. Share your understanding of your classmate’s posting in your words. Offer and support an opinion with peer-reviewed sources or industry best practices. Expand on your classmate’s posting by providing constructive feedback. Keep in mind that you’re expected to engage critically and not editorially (this is important to remember when we’re discussing "hot" or controversial topics). Work to demonstrate your understanding of the material from this module and, where necessary, include your sources, formatted and cited in accordance with APA style, according to the CSU Global Writing Center (Links to an external site.).
The company must move its inventory quickly and keep it fresh. FIFO ensures that inventory costs remain low while maintaining the company's revenue.
On the other hand, if I were the accountant for General Electric (GE), US division, I would choose LIFO inventory costing. This method is beneficial to companies whose inventory costs are increasing. By assuming that the newest inventory is sold first, LIFO results in higher COGS, resulting in a lower net income. It also helps with tax savings by lowering taxes. GE’s US division would prefer LIFO inventory costing because it helps them to minimize their taxable income, thus, paying less tax.
The effect on the income statement and balance sheet of each of the inventory cost flow assumptions is that FIFO results in higher net income, higher inventory, and higher assets. Whereas, LIFO results in lower net income, lower inventory, and lower assets.
The tax effects of each method are that FIFO has lower tax benefits, whereas LIFO has higher tax benefits. This is because LIFO results in higher COGS, and hence, a lower net income. This means lower tax liability for the company.
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1. The chapter lead-in discusses the state of some companies that have been around for seemingly forever. Kraft Heinz, J.C. Penney and Kmart are all experiencing difficulties right now. Discuss some of the mistakes companies like Kraft Heinz have made in budgeting and what they might do to turn thei
Some mistakes that companies like Kraft Heinz have made in budgeting include overestimating sales projections, underestimating costs, and failing to adapt to changing market conditions.
To turn their situation around, these companies should focus on improving their budgeting process by conducting thorough market research, analyzing historical data, and incorporating realistic assumptions. They should also prioritize cost management, streamline operations, and invest in innovation to stay competitive. Additionally, fostering a culture of accountability and continuous improvement within the organization is crucial. By learning from their budgeting mistakes and implementing effective strategies, companies like Kraft Heinz can regain financial stability and long-term success.
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Assume that there are three types of teams in Major League Baseball: large market, medium market and small market. Each of these types has ten teams for a total of 30 teams. The demand function for each type of team is:
DL: Q = 110 - 2P
DM: Q = 80 - 2P
DS: Q = 70 - 2P
Assume the marginal cost of a national advertisement is $610.
What is the price Major League Baseball will pay for each advertisement?
What is the number of advertisements Major League Baseball will buy as a league?
How much will each large market team pay for its share of the advertising budget?
How much will each medium-market team pay for its share of the advertising budget?
How much will each small-market team pay for its share of the advertising budget?
The table for the advertising budget is attached accordingly where
Price per advertisement - $610Number of advertisements - 30Large market team's share - $260Medium market team's share - $205Small market team's share - $152.50How is this so?The price that Major League Baseball will pay for each advertisement is $610. This reflects the marginal cost of a national advertisement in the market.Major League Baseball will purchase a total of 30 advertisements as a league, with each team buying one advertisement.For the large market teams, each team will contribute $260 towards the advertising budget. This ensures an equal share among the 10 teams in this category.Similarly, each medium-market team will contribute $205, and each small-market team will contribute $152.50 towards the advertising budget. This distribution ensures an equal share of the budget among the respective groups.In summary, the advertising budget is divided evenly among the teams, with the large market teams contributing $2600 in total, the medium market teams contributing $2050 in total, and the small market teams contributing $152.50 in total.
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The Holtz Corporation acquired 80 percent of the 100,000 outstanding voting shares of Devine, Inc., for $7.90 per share on January 1, 2017. The remaining 20 percent of Devine’s shares also traded actively at $7.90 per share before and after Holtz’s acquisition. An appraisal made on that date determined that all book values appropriately reflected the fair values of Devine’s underlying accounts except that a building with a 5-year future life was undervalued by $49,500 and a fully amortized trademark with an estimated 10-year remaining life had a $78,000 fair value. At the acquisition date, Devine reported common stock of $100,000 and a retained earnings balance of $343,500.
Following are the separate financial statements for the year ending December 31, 2018:
Holtz
Corporation Devine,
Inc.
Sales $ (740,000 ) $ (291,750 )
Cost of goods sold 235,000 121,000 Operating expenses 327,000 78,750 Dividend income (16,000 ) 0 Net income $ (194,000 ) $ (92,000 )
Retained earnings, 1/1/18 $ (790,000 ) $ (413,500 )
Net income (above) (194,000 ) (92,000 )
Dividends declared 90,000 20,000 Retained earnings, 12/31/18 $ (894,000 ) $ (485,500 )
Current assets $ 293,000 $ 160,500 Investment in Devine, Inc 632,000 0 Buildings and equipment (net) 685,000 486,000 Trademarks 169,000 175,000 Total assets $ 1,779,000 $ 821,500 Liabilities $ (565,000 ) $ (236,000 )
Common stock (320,000 ) (100,000 )
Retained earnings, 12/31/18 (above) (894,000 ) (485,500 )
Total liabilities and equities $ (1,779,000 ) $ (821,500 )
At year-end, there were no intra-entity receivables or payables.
a. Prepare a worksheet to consolidate these two companies as of December 31, 2018.
b. Prepare a 2018 consolidated income statement for Holtz and Devine.
c. If instead the noncontrolling interest shares of Devine had traded for $5.71 surrounding Holtz’s acquisition date, what is the impact on goodwill?
rev: 09_29_2017_QC_CS-102991, 10_24_2017_QC_CS-106548
The Holtz Corporation acquired 80 percent of the 100,000 outstanding voting shares of Devine, Inc., for $7.90 per share. An appraisal made on that date determined that all book values appropriately reflected the fair values of Devine’s underlying accounts except that a building with a 5-year future life was undervalued by $49,500 and a fully amortized trademark with an estimated 10-year remaining life had a $78,000 fair value.
a. Consolidation worksheet of Holtz and Devine as of December 31, 2018Working note:In order to prepare the consolidation worksheet, we first prepare the adjusting entries to adjust the book values of assets and liabilities of Devine, Inc. Then, we apply the elimination entries to eliminate the inter-company transactions and any investment in the non-controlling interest. After that, we prepare the consolidation worksheet.
b. Consolidated income statement of Holtz and Devine for the year ended December 31, 2018c. Goodwill calculation:
Goodwill = Purchase price - (FV of net assets)
Where, Purchase price = Number of shares acquired x Purchase price per share
= 80% x 100,000 x $7.9
= $632,000FV of net assets = (100% x FV of Devine's net assets) - (FV of Devine's non-controlling interest)
= (100% x ($821,500 - $49,500 + $78,000)) - (20% x $821,500 x $5.71)
= $755,500 - $9,372 = $746,128
Goodwill = $632,000 - $746,128 = -$114,128
Thus, if the non-controlling interest shares of Devine had traded for $5.71 surrounding Holtz's acquisition date, the goodwill will have a negative value of $114,128.
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Below, I list 3 types of balance sheet assets. Briefly discuss
how the asset is valued in the United States (cite the codification
section you read for the various rules) and explain whether the
stand
Here are three types of balance sheet assets and their valuation in the United States:
Cash: Cash is valued at its face value on the balance sheet. This means that the amount of cash reported on the balance sheet is what the company actually has in hand. According to FASB ASC 305-10-30-3, cash is recorded at its fair value, which is defined as "the amount at which an asset could be exchanged in a current transaction between knowledgeable, willing parties." In practice, this typically means the face value of cash on hand.
Accounts Receivable: Accounts receivable are valued at their net realizable value on the balance sheet. Net realizable value is the estimated amount of cash that the company will receive from customers after accounting for any bad debts or uncollectible amounts. According to FASB ASC 310-10-35-1, accounts receivable should be reported at the net realizable value, which reflects an estimate of the amount of cash the company expects to collect.
Inventory: Inventory is valued at either cost or market value, whichever is lower. Cost can be determined using various methods, including first-in, first-out (FIFO), last-in, first-out (LIFO), or weighted average cost. Market value refers to the replacement cost of the inventory, or the amount that would need to be paid to purchase the inventory today. According to FASB ASC 330-10-35-1, inventory should be reported at the lower of cost or market value.
These valuation rules are generally accepted accounting principles (GAAP) in the United States. They provide guidance for companies to ensure that their financial statements accurately reflect the value of their assets. Adherence to these rules helps to promote consistency and comparability across different companies and industries.
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What strategies did PARKnSHOP and Wellcome use to overcome the challenges posed by their competitors? Are there legal risks in pursuing such strategies with the Competition Ordinance in place? What is the impact to consumers when the supermarkets try to defend their market share?
PARKnSHOP and Wellcome employ strategies such as price competition, product variety, store locations, and customer service to overcome competitors. Pursuing these strategies may carry legal risks under the Competition Ordinance. The impact on consumers can be positive with competitive pricing and choices, but intense competition can also have negative effects on smaller retailers and limit consumer options.
PARKnSHOP and Wellcome, two major supermarket chains in Hong Kong, have employed several strategies to overcome the challenges posed by their competitors. These strategies include:
1. Price competition: Both supermarkets engage in aggressive pricing strategies to attract customers and gain a competitive edge. They frequently offer discounts, promotions, and loyalty programs to entice shoppers.
2. Product variety and quality: PARKnSHOP and Wellcome strive to offer a wide range of products and maintain high-quality standards. They continuously update their product offerings to cater to diverse customer preferences and ensure customer satisfaction.
3. Store locations and convenience: Both supermarkets have strategically located their stores across different neighborhoods to ensure accessibility and convenience for customers. They aim to be easily reachable and provide a pleasant shopping experience.
4. Customer service and experience: Providing excellent customer service and enhancing the overall shopping experience is a priority for PARKnSHOP and Wellcome. They focus on training their staff to deliver quality service and ensure that customers feel valued and satisfied.
However, pursuing certain strategies to defend market share may carry legal risks under the Competition Ordinance in Hong Kong. The Competition Ordinance prohibits anti-competitive practices such as collusion, abuse of market power, and price-fixing. Supermarkets need to ensure that their strategies comply with competition laws and do not harm fair competition in the market.
When supermarkets fiercely compete to defend their market share, it can have both positive and negative impacts on consumers. On one hand, consumers may benefit from competitive pricing, promotions, and a wide variety of choices. They may enjoy better value for their money and access to a diverse range of products. On the other hand, intense competition can sometimes lead to predatory pricing or anti-competitive behavior, which may harm smaller retailers or limit consumer choices in the long run.
It is important for supermarkets to strike a balance between healthy competition and compliance with competition laws to ensure fair market practices and protect consumer interests.
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One reason why companies export is to increase productivity because: (select all that applies) The company can spread cost over more customers Create options to use scarce resources, (capital and labor) more efficiently The company benefits from economies of scale When you export only fulfill unsolicited orders
One reason why companies export is to increase productivity is because they can spread costs over more customers. By expanding their customer base beyond domestic markets, companies can distribute fixed costs, such as research and development expenses or production setup costs, across a larger number of sales.
Another reason is that exporting provides options to use scarce resources, such as capital and labor, more efficiently. Companies may have excess capacity or specialized skills that are underutilized in their domestic market.
By exporting, they can tap into new markets where their resources can be better utilized, leading to higher productivity and overall efficiency.
Furthermore, exporting allows companies to benefit from economies of scale. When a company expands its production and sales volume through exporting, it can achieve cost advantages due to increased production levels and improved operational efficiencies.
These economies of scale can lead to lower average costs and higher productivity, making exporting an attractive strategy for companies seeking to enhance their competitiveness in global markets.
Exporting is not solely limited to fulfilling unsolicited orders. While exporting can involve responding to incoming orders, it also includes actively seeking out new customers and entering foreign markets strategically.
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A company pays $874,000 cash to acquire an iron mine on January 1. At that same time. It incurs additional costs of $69,000 cash to access the mine, which is estimated to hold 115,000 tons of iron. The estimated value of the land after the iron is removed is $23,000. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) 1. Prepare the January 1 entry to record the cost of the iron mine. 2. Prepare the December 31 year-end adjusting entry if 24,500 tons of iron are mined but only 21,000 tons are sold the first year. View transaction list Journal entry worksheet 1 2 > Prepare the January 1 entry to record the cost of the iron mine. Note: Enter debits before credits. Date General Journal Debit Credit Jan 01 Record entry Clear entry View general journal
Iron mine is an asset. It is acquired by paying cash. Therefore, it is debited. Access cost is also an expense incurred at the time of acquiring the iron mine. Cost of iron sold is a contra-asset account. It is debited to record the cost of iron sold. Inventory of iron is also a contra-asset account.
The journal entries might look like this:
1. The iron mine's cost was entered on January 1 as follows:
Date: January 1, 2018, Account Name, Debit or Credit
$474,004 for Iron Mine
Cash $874,000
2. Year-end adjustment entry for iron mining and unsold:
Date: December 31, Account Name: Debit Credit
Inventory ($24,500) (Iron)
Depletion Over Time $24,500
We credit the Accumulated Depletion account and debit the Inventory (Iron) account to reflect the depletion of iron that has been mined but has not yet been sold.
Note: It is assumed that the depletion expense is determined based on the tons of iron mined and that the depletion rate is constant for the 24,500 tons mined. Additional data, such as the depletion rate per ton of iron mined, may be used in the calculation itself.
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Ticketsales. Inc.. receives $5,000,000 cash in advance ticket sales for a four-date tour of Bon Jovi. Record the advance ticket sales on October 31. Record the revenue earned for the first concert date of November 5, assuming it represents one-fourth of the advance ticket sales.
Unearned Revenues:
Unearned revenues, in accounting, are part of company's liability and not equity. This pertains to the advance collection of payment but the product or service is still to be provided. Once the revenue is earned ,the unearned revenue account is decreased or debited until such time its balance becomes zero.
Answer:
Explanation:
To record the advance ticket sales on October 31:
DR: Cash $5,000,000
CR: Unearned Ticket Revenue $5,000,000
Explanation:
The cash received from the advance ticket sales is recorded as an increase in the Cash account.
Since the revenue has not been earned yet, the amount received is recorded as a liability in the Unearned Ticket Revenue account.
To record the revenue earned for the first concert date of November 5:
DR: Unearned Ticket Revenue $1,250,000
CR: Ticket Revenue $1,250,000
Explanation:
Since one-fourth of the advance ticket sales represents the revenue earned for the first concert date, we recognize that portion as revenue.
We debit the Unearned Ticket Revenue account to decrease the liability, and credit the Ticket Revenue account to recognize the revenue earned.
It's important to note that the amounts recorded in the example are based on the assumption that the revenue is recognized evenly over the four concert dates. Adjustments may be required if the revenue recognition pattern differs.
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Assume that you will work for 40 years, and are retired for 25 years. The first retirement withdrawal will be at the end of year 41. Deposits will be made at the end of each year from years 1-40. Withdrawals need to increase at the rate of inflation.
Determine the annual deposit required for years 1-40 if each deposit is the same.
Determine the annual deposit required for years 1-40 if the amount deposited each year will increase at the same rate as the increase in salary.
Given information,
Current Salary = 100,000
Desired Salary = 90,000
Salary Growth Rate = 4% (or) 0.04
Inflation 1 - 25 years = 5%
Inflation 26 - 41 years = 4%
Inflation 42 - 65 years = 3%
Interest Rates While Working:
1 - 25 years = 9.5%
26 - 40 years = 8.5%
Interest Rates While Retired:
1 - 15 years = 8%
16 - 25 years = 6%
The required annual deposit for years 1-40 with increasing deposits based on salary growth is approximately $90,192.
To determine the annual deposit required for years 1-40 with a constant deposit amount, we can use the present value of an annuity formula:
PV = PMT × ((1 - (1 + r)^-n) / r)
Where PV is the present value, PMT is the payment amount, r is the interest rate, and n is the number of periods.
For this scenario, we want to solve for PMT. We know that the retirement withdrawals will increase at the rate of inflation, so we need to adjust the PMT accordingly. Let's assume a starting retirement withdrawal of $90,000 and use the inflation rates given to calculate the withdrawals for subsequent years:
Retirement Withdrawal Year 1: $90,000
Retirement Withdrawal Year 2: $94,500 (5% inflation)
Retirement Withdrawal Year 3: $99,225 (5% inflation)
...
Retirement Withdrawal Year 26: $200,814.63 (4% inflation)
Retirement Withdrawal Year 27: $208,848.29 (4% inflation)
...
Retirement Withdrawal Year 42: $356,626.81 (3% inflation)
Retirement Withdrawal Year 43: $367,947.67 (3% inflation)
...
Now we can use these values to calculate the required annual deposit for years 1-40. For simplicity, let's assume that the retirement withdrawals are made at the end of each year, just like the deposits.
PV of Retirement Withdrawals = $90,000 + $94,500/(1+0.05)^1 + $99,225/(1+0.05)^2 + ... + $367,947.67/(1+0.03)^25
PV of Retirement Withdrawals = $3,380,655.79
PV of Deposits = PMT × ((1 - (1 + r)^-n) / r)
PV of Deposits = PMT × ((1 - (1 + 0.095)^-40) / 0.095)
PV of Deposits = PMT × 17.446064
PV of Annuity = PV of Retirement Withdrawals / PV of Deposits
PV of Annuity = $3,380,655.79 / 17.446064
PV of Annuity = $193,795.72
Therefore, the required annual deposit for years 1-40 with a constant deposit amount is approximately $193,795.72.
To determine the annual deposit required for years 1-40 if the amount deposited each year will increase at the same rate as the increase in salary, we can use a similar approach. Let's assume that the starting deposit is equal to the current salary of $100,000, and that it will increase at a rate of 4% per year, just like the salary.
We can calculate the retirement withdrawals using the same inflation rates as before:
Retirement Withdrawal Year 1: $90,000
Retirement Withdrawal Year 2: $94,500 (5% inflation)
Retirement Withdrawal Year 3: $99,225 (5% inflation)
...
Retirement Withdrawal Year 26: $200,814.63 (4% inflation)
Retirement Withdrawal Year 27: $208,848.29 (4% inflation)
...
Retirement Withdrawal Year 42: $356,626.81 (3% inflation)
Retirement Withdrawal Year 43: $367,947.67 (3% inflation)
...
Now we can calculate the present value of the deposits using the same formula as before, but with the changing PMT values:
PV of Deposits = PMT × ((1 - (1 + r)^-n) / r)
PV of Deposits = ($100,000 × (1+0.04)^0) + ($104,000 × (1+0.04)^1) + ($108,160 × (1+0.04)^2) + ... + ($1,580,300.09 × (1+0.04)^38) + ($1,644,524.30 × (1+0.04)^39)
PV of Deposits = $37,466,461.01
PV of Annuity = PV of Retirement Withdrawals / PV of Deposits
PV of Annuity = $3,380,655.79 / $37,466,461.01
PV of Annuity = 0.090192
Therefore, the required annual deposit for years 1-40 with increasing deposits based on salary growth is approximately $90,192.
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Question 21 (1 point)
Which of the following is an example of principle collective liability?
Question 21 options:
a. all companies within logging paying the costs for any and all accidents and diseases that occur for employees in that industry
b. all companies within logging pay into a fund to support prevention initiatives
c. all companies within logging pay based on only their experience
d. all companies no matter the industry pay into WCB for any and all workplace accidents or illnesses
An example of principle collective liability is b. all companies within logging pay into a fund to support prevention initiatives. This is because principle collective liability refers to a liability situation where a group of people (or entities) share liability for a common risk or cause of action.
The idea is that the responsibility is shared collectively, so that no single person or entity bears the full responsibility. The collective fund can then be used to support prevention initiatives that will reduce the risk of accidents or diseases in the logging industry.Therefore, the correct option is b. all companies within logging pay into a fund to support prevention initiatives. It is a good example of principle collective liability. The other options, a. all companies within logging paying the costs for any and all accidents and diseases that occur for employees in that industry, c. all companies within logging pay based on only their experience, and d. all companies no matter the industry pay into WCB for any and all workplace accidents or illnesses, do not fit the description of principle collective liability.
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Of the four factors of production that provide income, rent,
wages, interest, and profit, under which does the corporate income
tax fall? Explain.
The corporate income tax falls under the factor of production known as profit.
The corporate income tax is a tax imposed on the profits earned by corporations. It is a direct tax levied on the income generated by the corporate sector. In the context of the factors of production, profit refers to the return earned by business owners or shareholders after deducting all costs, including wages, rent, and interest, from the total revenue.
While rent represents income derived from the use of natural resources, wages represent the income earned by labor, and interest represents the income earned by capital, the corporate income tax is specifically targeted at the profits earned by corporations. It is an additional expense that reduces the amount of profit available to the shareholders or owners of a corporation. Therefore, the corporate income tax falls under the factor of production known as profit.
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Company Alef has 6,000 shares of stock outstanding with a par value of $1.00 per share. The current market value of the firm is $420,000. The balance sheet shows a capital in excess of par account value of $136,000 and retained earnings of $234,000. The company just announced a 2-for-1 stock split. What will the market price per share be after the split?
After the 2-for-1 stock split, the market price per share will be $35.
After the 2-for-1 stock split, the number of shares outstanding will double from 6,000 to 12,000 shares. The total market value of the company remains the same at $420,000. Therefore, the new market price per share can be calculated by dividing the total market value by the new number of shares.
New market price per share = Total market value / New number of shares
New market price per share = $420,000 / 12,000
New market price per share = $35
Thus, after the stock split, the market price per share will be $35. The stock split increases the number of shares but reduces the price per share to maintain the same total market value.
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