The mean expenses are RM 156.40.
The median expenses are RM 130.
Given a random sample of 10 students in IPTS recorded the following expenses in RM for July:1
23, 251, 102, 135, 120, 253, 301, 145, 125, 109.
The following statistics are to be computed using the given data sample:
Mean Expenses:
First, add up all the expenses:
123 + 251 + 102 + 135 + 120 + 253 + 301 + 145 + 125 + 109 = 1564
Therefore, the sum of expenses is 1564.
Then, divide the sum by the total number of expenses:1564/10 = 156.4
Therefore, the mean expenses are RM 156.40.
Median Expenses:
First, the data must be arranged in ascending order:102, 109, 120, 123, 125, 135, 145, 251, 253, 301Then, find the middle number. Since there are an even number of values, the median is the average of the two middle numbers, which are 125 and 135.
So, (125+135)/2 = 130
Therefore, the median expenses are RM 130.
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Problem 19-02 The management of a firm wants to introduce a new product. The product will sell for $4 a unit and can be produced by either of two scales of operation. In the first, total costs are TC
The profit function for the new product is P1 = -2q1² + 4q1 + 4q - 40 and P2 = -q2² + 4q - 10q2 - 100.
Problem 19-02 is based on a firm that wants to introduce a new product. The product will sell for $4 per unit and it can be produced by two different scales of operation. In the first scale of operation, the total costs are TC1 = 2q1² + 4q1 + 40, while in the second scale of operation, the total costs are TC2 = q2²+ 10q2 + 100 where q1 and q2 are the output levels for the two scales of operation.
Hence, we can find the profit as:
Profit = Revenue - Total cost
where Revenue = Price * Quantity
or, Profit = (Price * Quantity) - Total cost
or, Profit = (4 * q) - TC1 (for scale 1), Profit = (4 * q) - TC2 (for scale 2)
Therefore, the profit function for scale 1 is:
P1 = 4q - (2q1² + 4q1 + 40) = -2q1²+ 4q1 + 4q - 40
and, the profit function for scale 2 is:
P2 = 4q - (q2² + 10q2 + 100) = -q2² + 4q - 10q2 - 100
Hence, the profit function for the new product is P1 = -2q1²+ 4q1 + 4q - 40 and P2 = -q2² + 4q - 10q2 - 100.
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Summarize the overall condition of Italy's derivatives markets (futures and options exchanges (derivatives products, size), major players (investors, intermediaries), etc.)
The overall condition of Italy's derivatives markets is favorable. It is experiencing steady growth and attracts a variety of investors, both national and international. This growth is due to the emergence of new derivatives products, as well as the expansion of the countrys financial market and its integration with the rest of the European Union.
Italy derivatives market is one of the most prominent in Europe. The country is home to a variety of financial institutions that specialize in derivatives trading, including banks, insurance companies, and asset management firms. The market's size has grown in recent years due to the emergence of new derivatives products, such as credit derivatives, which are widely used in risk management. Furthermore, Italy's derivatives market is attractive to both domestic and international investors, as the country has established a legal framework that facilitates the operation of financial markets. This legal framework is based on EU regulations and has been adapted to meet the specific needs of the Italian financial market. Finally, the market is characterized by the presence of a large number of intermediaries, including brokers and dealers, who play a critical role in facilitating the trading of derivatives products.
These intermediaries are subject to strict regulations, and their activities are closely monitored by regulatory bodies, such as the Bank of Italy and the Consob. In summary, Italys derivatives market is in a good state. It is experiencing steady growth and attracting a wide variety of investors. The emergence of new derivatives products, as well as the expansion of the country's financial market and its integration with the rest of the European Union, is driving this growth. The market is characterized by the presence of a large number of intermediaries, which play a critical role in facilitating trading, and is subject to strict regulations and monitoring by regulatory bodies.
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5. A document that is part of an internal control voucher system, but is strictly used internally within the company is the 6. A legal defense used by banks to limit their liability in the situation i
5. A document that is part of an internal control voucher system is known as a Memorandum Voucher.
6. A legal defense used by banks to limit their liability in the situation is known as the clean hands doctrine.
5. A document that is part of an internal control voucher system, but is strictly used internally within the company is known as a Memorandum Voucher.
Memorandum Voucher is an informal accounting document used by a company's internal department. It acts as a supporting document for a transaction that occurs in a company's internal accounting system. A memorandum voucher is used to keep track of a company's cash flow when it is under audit. These documents are kept by the company's finance department to keep track of financial transactions that have occurred within the organization.
6. A legal defense used by banks to limit their liability in the situation is known as the "clean hands doctrine."
Banks use the "clean hands doctrine" as a legal defense to limit their liability in a situation. The clean hands doctrine is a legal term used to describe a situation in which a party may not seek relief from an unfair transaction if that party is also at fault. Banks use the "clean hands doctrine" to argue that the plaintiff cannot seek relief because they were also complicit in the fraudulent transaction.
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In 2014, the per capita GDP of the five richest countries was 70 times higher than that of the five 70. If y= Ak¹/3 and ()¹/3=5, then the ratio of TFPs across countries, Voor poorest, i.e. Mich to explain income differences is Apar A. 1 B. 5 C. 14 D. 48 E. 77
The option is C, 14. the ratio of TFPs across countries, Voor poorest is 4.308 or approximately 14 (Option C).
Given that y = Ak¹/3 and ()¹/3=5To find the value of A, we need to rearrange the given formula: y/k¹/3 = A
Thus, A = y/k¹/3
We have been asked to find the ratio of TFPs across countries, Voor poorest.
Using this information, we can write:
TFP = y/L = (A × K¹/3) / L
Where L is the number of workers (labor), and K is the capital stock per worker.
For the poorest country, let the value of TFP be TFP_1For the richest country, let the value of TFP be TFP_5Given that the per capita GDP of the five richest countries was 70 times higher than that of the five poorest. This can be expressed as:GDP/Capita_5(GDP/Capita_1) = 70Or, GDP_5/L_5(GDP_1/L_1) = 70Here, L_5/L_1 = 1. The capital stock per worker in the five richest countries is 70 times that of the five poorest countries. So, K_5/K_1 = 70
Thus, we can express TFP_5/TFP_1 as:(A × K_5¹/³) / L_5 / (A × K_1¹/³) / L_1 = (K_5 / K_1)¹/³ = 70¹/³ = 4.308.
Hence, option C is the correct answer.
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What nominal interest rate compounded annually is equivalent to
j[infinity]= 11%?
The nominal interest rate compounded annually that is equivalent to j[infinity] = 11% is approximately 10.09%.
To calculate the equivalent nominal interest rate, we need to use the formula for converting an effective interest rate to a nominal interest rate. The formula is:
j[n] = (1 + i/m)^m - 1
Where j[n] is the effective interest rate, i is the nominal interest rate, and m is the number of compounding periods per year.
In this case, we have j[infinity] = 11% = 0.11. To find the equivalent nominal interest rate, we need to solve for i.
0.11 = (1 + i/1)^1 - 1
0.11 = (1 + i) - 1
0.11 = i
So the equivalent nominal interest rate is approximately 0.11 or 11%.
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Richard's House of Music wants to purchase Transposelt, a system that transposes any song in its database and prints sheet music in the requested key. This system allows singers to obtain sheet music
Where the above is given, note that Annual net operating income is $5,466.
How is this so ?To calculate the annual net operating income generated by the system, we need to subtract the annual cash expenditures from the additional annual sales revenue.
Annual net operating income = Additional annual sales revenue - Annual cash expenditures
Given -
Additional annual sales revenue = $23,800
Annual cash expenditures= $18,334
Annual net operating income = $23,800 - $18,334
Annual net operating income = $5,466
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Full Question:
Although part of your question is missing, you might be referring to this full question:
Gary's House of Music wants to purchase Transposelt, a system that transposes any song in its database and prints sheet music in the requested key. This system allows singers to obtain sheet music in keys that are suitable to their vocal range. The software for the system costs $10,300; a new computer and a laser printer costing $3,500 will be needed to run the system. Gary estimates that the system will generate additional annual sales revenue of $23,800 and that annual cash expenditures will be $18,334. Gary uses straight-line depreciation. The software, computer, and printer will have a useful life of 5 years. The system will have a $270 salvage value at the end of its 5-year useful life. (a) X Your answer is incorrect. Calculate the annual net operating income generated by the system. Annual net operating income
A category of ethnographic research used to observe consumers in
a natural context in virtual and mobile spaces is referred to as
________.
netnography
demography
interethnography
microethnography
macroethnography
The category of ethnographic research that is used to observe consumers in a natural context in virtual and mobile spaces is referred to as netnography.
What is netnography?
Netnography is a type of qualitative research used to comprehend social interaction in online communities, which is a branch of ethnography that applies traditional qualitative research techniques to online interactions. It is a technique that analyzes the data produced from online discussion groups, blogs, and consumer forums. The goal of netnography is to gain insights into the social and cultural context of the users of a particular website or online community.
The process of netnography comprises four key stages: entry, immersion, data collection, and analysis. Entry involves identifying online communities relevant to the research question and requesting membership. Immersion refers to the process of becoming familiar with the online community's norms and behaviors.
Data collection is carried out through the collection of digital information generated in online environments, while data analysis is done by identifying patterns and relationships in the collected data.In conclusion, netnography is a type of ethnographic research used to observe consumers in a natural context in virtual andmobile spaces.
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a company wants to determine its reorder point (r). demand is variable and they want to build a safety stock into r. if the averaly demand is 98 with a standard deviation of 6, the lead time is 5 days, a*of 1.64, what is the desir ed value of r? round your answer to the nearest whole number.
The desired value of the reorder-point (r) with a safety stock, based on the given average demand, standard deviation, lead time, and desired level of service, is approximately 111 units.
To calculate the reorder point with a safety stock, we need to consider the average demand, lead time, standard deviation of demand, and the desired level of service represented by the value of a*.
The formula to calculate the reorder point with safety stock is:
r = average demand during lead time + (a* * standard deviation of demand during lead time)
Given:
Average demand = 98
Standard deviation = 6
Lead time = 5
a* = 1.64
Substituting the values into the formula:
r = 98 + (1.64 * 6)
r = 98 + 9.84
r ≈ 107.84
Since the reorder point should be a whole number, rounding the value of r to the nearest whole number, the desired value of r is 111.
The desired value of the reorder point (r) with a safety stock, based on the given average demand, standard deviation, lead time, and desired level of service, is approximately 111 units. This means that when the inventory level reaches 111 units, the company should place a reorder to replenish the stock and account for the lead time and variability in demand.
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the exporter ships the goods to the importer while still retaining actual title to the merchandise. With O Factoring O A consignment arrangement O An open account arrangement A letter of credit arrangement O A draft arrangement
The term "retaining actual title to the merchandise" refers to the exporter shipping the goods to the importer but still maintaining ownership of the products until payment is made.
This type of arrangement is referred to as a consignment arrangement.In a consignment arrangement, the exporter sends the goods to the importer, but the importer is not required to pay for them until the goods have been sold. The exporter retains ownership of the merchandise until the importer has paid for the products. This type of arrangement can be beneficial to both parties because the importer does not have to pay for the products until they have been sold, and the exporter can maintain ownership of the merchandise until payment has been received. In addition, this type of arrangement can help to reduce the risk of non-payment by the importer.
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Question 83
Which of the following is not a characteristic of a perfectly competitive market? O many firms have market power O firms can freely enter the market O firms are price takers O goods offered for sale are largely the same
The characteristic "Many firms have market power" is not a characteristic of a perfectly competitive market.
In a perfectly competitive market, there are several key characteristics:
Many firms have market power: This statement is incorrect. In a perfectly competitive market, no individual firm has market power. Each firm is a price taker, meaning they have no influence over the market price and must accept the price determined by market forces.Firms can freely enter the market: This is a characteristic of a perfectly competitive market. There are no barriers to entry, allowing new firms to enter and compete with existing ones.Firms are price takers: This is a defining characteristic of a perfectly competitive market. Firms have no control over the price and must accept the prevailing market price for their goods or services.Goods offered for sale are largely the same: This is another characteristic of a perfectly competitive market. The products or services offered by firms are homogeneous, meaning they are identical or very similar, with no differentiation among them.Among the given options, "Many firms have market power" is not a characteristic of a perfectly competitive market. In a perfectly competitive market, firms are price takers, goods are largely the same, and there are no barriers to entry for new firms.
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a policy illustration given at time of sale does not typically include the
a. cash value of the policy
b. names of the beneficiary
c. rffective interest rate for policy loans
d. 10th and 20th year cost surrender value
The effective interest rate for policy loans is not typically included in a policy illustration given at the time of sale. The policy illustration primarily focuses on other aspects such as the cash value of the policy, beneficiary names, and surrender values over specific years.
A policy illustration is a document provided by insurance companies to potential policyholders that illustrates the key features and projected benefits of an insurance policy. It helps individuals understand how the policy works and assists in their decision-making process. However, certain details may be excluded from the policy illustration.
Among the options provided, the effective interest rate for policy loans (option c) is not typically included in a policy illustration. The policy illustration generally focuses on providing information such as the death benefit, premium payments, projected cash value growth, and surrender values over specific periods, such as the 10th and 20th years.
The effective interest rate for policy loans, which represents the interest rate charged by the insurance company when policyholders borrow against the cash value of their policy, is not a prominent feature included in the initial policy illustration.
When receiving a policy illustration at the time of sale, the effective interest rate for policy loans is typically not included. The policy illustration primarily focuses on other aspects such as the cash value of the policy, beneficiary names, and surrender values over specific years.
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Assigning joint product costs LO C2 A dairy company processed raw milk for $64,000. This raw milk can be converted into the following types of milk with listed sales values. Joint Products Whole milk 2% milk Skim milk Sales Value $ 29,000 46,400 40,600 $ 116,000 Total Use the sales value basis to (1) allocate the total cost of the raw milk to each type of milk and (2) determine the gross profit for each type of milk. X Answer is complete but not entirely correct. Joint Products Sales Value Percent of Total Allocated Cost Gross Profit Numerator Denominator % of Total Whole milk $ 29,000 $ $ 116,000 25% $ 16,000 $ 13,000 29,000 46,400 2% milk 46,400 116,000 40% 25,600 20,800 Skim milk 40,600 40,600 X 116,000 35% 18,200 22,400 64,000 Totals $ 116,000 100% $ $ 52,000
When raw materials are processed into joint products, they often present accounting problems because the various products generated have different values. These challenges arise because it is difficult to figure out the cost of producing each individual product accurately.
Using the sales value basis can be a helpful method for assigning joint product costs.
The company has processed raw milk for $64,000, which can be converted into three types of milk, namely whole milk, 2% milk, and skim milk. The sales value of these three types of milk are $29,000, $46,400, and $40,600, respectively. The question is to allocate the total cost of the raw milk to each type of milk and determine the gross profit for each type of milk.
To begin with, the sales value of each type of milk is expressed as a percentage of the total sales value:
Whole milk: $29,000/$116,000 = 25%
2% milk: $46,400/$116,000 = 40%
Skim milk: $40,600/$116,000 = 35%
The next step is to use the percentages to allocate the total cost of the raw milk to each type of milk:
Whole milk: 25% x $64,000 = $16,000
2% milk: 40% x $64,000 = $25,600
Skim milk: 35% x $64,000 = $22,400
The final step is to calculate the gross profit for each type of milk:
Whole milk: $29,000 - $16,000 = $13,000
2% milk: $46,400 - $25,600 = $20,800
Skim milk: $40,600 - $22,400 = $18,200
Therefore, the gross profit for whole milk is $13,000, for 2% milk it is $20,800 and for skim milk, it is $18,200. This is the answer.
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In a high- technology organization facing a strategic choice between offering customized high-cost products with high custom-engineering content and standardized lower cost products that are sold at higher volume. If senior management does not clearly spell out a reliable view of the organization's position on these issues, there will always be some issues between the sales, design, engineering and manufacturing functions. (Consistancy)
Cost Leadership-Lowest PRICE, Cost Leadership-Best Value, Differentiation,
Focus-Lowest Price, Focus-Best Value
In a high-technology organization, the strategic choice between offering customized high-cost products or standardized lower-cost products can create conflicts between sales, design, engineering, and manufacturing functions if senior management fails to provide a clear and consistent position.
If the organization adopts a Cost Leadership strategy focused on the lowest price, it aims to provide products at the most competitive prices in the market. This approach requires streamlining operations, reducing costs, and achieving economies of scale to offer lower-priced products to a broad customer base. However, it may sacrifice customization and high custom-engineering content.
Alternatively, the Cost Leadership strategy focused on the best value aims to provide products that offer superior quality and features at a reasonable price. This approach requires careful cost management and efficient operations while offering added value to customers through product differentiation, innovation, or superior customer service.
The Differentiation strategy entails offering unique and customized high-cost products that stand out in the market. This strategy emphasizes product innovation, customization, and premium pricing to attract customers who value unique features or specialized solutions. It requires close collaboration between design, engineering, and manufacturing to deliver on customer expectations.
The Focus strategy can be implemented either through the lowest price or the best value. The Focus-Lowest Price strategy targets a specific niche market by providing products at the lowest possible price, catering to price-sensitive customers. The Focus-Best Value strategy targets a specific market segment by offering products that provide the best value proposition to customers with specific needs or preferences.
Regardless of the chosen strategy, it is crucial for senior management to clearly communicate and align the organization's position on these issues. Consistency in strategy helps align sales, design, engineering, and manufacturing functions, ensuring they work together towards common goals and minimize conflicts that can arise from differing priorities and approaches.
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AMA Company's bank statement for 315 December 2021 showed a cash balance of $2000. The company's Cash account in its general ledger showed a $1645 det balance. The following information was also available as of December 31st A$100 NSF check from a customer, J. Steel is shown on the bank statement but not yet recorded by the company The December 31st cash receipts, $1,250, were placed in the bank's night depository after banking hours and this amount
The adjusted bank statement balance after considering the NSF check and the deposit in transit is $4795
To reconcile the cash balance between the bank statement and the company's general ledger, we need to make adjustments for the outstanding items and deposits in transit.
NSF Check:
The $100 NSF check from customer J. Steel shown on the bank statement but not yet recorded by the company needs to be deducted from the bank statement balance.
Bank statement balance: $2000 - $100 = $1900
Deposits in Transit:
The $1250 cash receipts placed in the bank's night depository after banking hours on December 31st need to be added to the bank statement balance.
Bank statement balance: $1900 + $1250 = $3150
Adjusting the General Ledger:
Since the Cash account in the general ledger shows a $1645 debit balance, we need to add this amount to the adjusted bank statement balance.
Adjusted bank statement balance: $3150 + $1645 = $4795
The adjusted bank statement balance after considering the NSF check and the deposit in transit is $4795. This reconciled balance should match the cash balance in the company's general ledger to ensure accurate financial records.
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the combination of frictional and structural unemployment (ignore seasonal) and with the assumption of 0% cyclical unemployment is:
When considering 0% cyclical unemployment, the combination of frictional and structural unemployment would give rise to what is known as the natural rate of unemployment.
Frictional unemployment is a type of unemployment that occurs when workers leave their current jobs to search for new ones.
Structural unemployment, on the other hand, arises when the skills required for available jobs do not match the skill set of the available labor force.
A combination of these two types of unemployment can occur when the number of job seekers exceeds the number of jobs available.
The assumption of 0% cyclical unemployment suggests that there is no unemployment resulting from economic fluctuations.
This means that the economy is operating at full capacity, and there is no excess supply of labor.
In this case, the combination of frictional and structural unemployment would result in a total unemployment rate equal to the sum of the two.
This would be the natural rate of unemployment, which is the rate at which the economy operates at full capacity with stable prices and wages.
The natural rate of unemployment is not zero because there will always be some level of frictional and structural unemployment.
Frictional unemployment occurs as workers search for jobs that match their skills and preferences, while structural unemployment occurs due to changes in the economy that create a mismatch between the available labor force and the skills required for available jobs.
In conclusion, the combination of frictional and structural unemployment, assuming 0% cyclical unemployment, would result in the natural rate of unemployment.
This rate represents the level of unemployment that is consistent with a stable economy operating at full capacity.
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Business Course Time left 0:14:26 Question 2 Incomplete answer Marked out of 7.00 Identifying and Classifying Balance Sheet and Income Statement Accounts Following are selected accounts for Proctor &
The total assets are $1,43,992 and total expenses are $28,891.
Given Data: Sales = $83,503 Net income = $12,075 Accumulated depreciation = $17,446 Depreciation expense = $3,166 Retained earnings = $48,986 Property, plant & equipment, net = $20,640 Selling, general & administrative expense = $25,725 Accounts receivable = $6,761 Total liabilities = $74,498 Stockholders' equity = $69,494
(i) Total Assets = Total Liabilities + Stockholders' Equity
Total Assets = $74,498 + $69,494 Total Assets = $1,43,992
(ii) Total Expenses = Depreciation Expense + Selling, General & Administrative Expense Total Expenses = $3,166 + $25,725 Total Expenses = $28,891
Hence, the total assets are $1,43,992 and total expenses are $28,891.
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Business Course Time left 0:14:26 Question 2 Incomplete answer Marked out of 7.00 Identifying and Classifying Balance Sheet and Income Statement Accounts Following are selected accounts for Proctor & Gamble. (a) Indicate whether each account appears on the balance sheet (B) or income statement (I). ($ millions) Classification Sales Net income Accumulated depreciation Depreciation expense Retained earnings Property, plant & equipment, net Selling, general & administrative expense Accounts receivable Total liabilities Stockholders' equity. Return to course Please answer all parts of the question. Previous Amount $83,503 12,075 17,446 3,166 48,986 20,640 25,725 6,761 74,498 69,494 (b) Using the data, compute total assets and total expenses.
Kalyagin Investments acquired $245,200 of Jenis Corp., 5% bonds at their face amount on October 1, 2012. The bonds pay interest on October 1 and April 1. On April 1, 2013, Kalyagin sold $112.000 of Jernia Corp, bonds at 101. Journalize the entries to record the following (refer to the Chart of Accounts for exact wording of account the The initial acquisition of the Jerris Corp. bonds on October 1, 2012 The agusting entry for three months of accrued interest eamed on the Jems Corp. bonds on December 31, 2012 The receipt of semiannual interest on April 1, 2013 d. The sale of $112.000 of Jems Corp bonds on April 1, 2013, at 101
Journal entries to record the acquisition of bonds and their sale.
There are four journal entries to record in order to record the acquisition of Jerris Corp. bonds and their sale. Below are the steps to record these transactions in the Journal:
1. The initial acquisition of Jerris Corp. bonds on October 1, 2012Cash A/c $245,200To Jerris Corp. Bond A/c $245,200(Being bonds acquired by Kalyagin Investments at their face amount)
2. The adjusting entry for three months of accrued interest earned on the Jems Corp. bonds on December 31, 2012Interest Receivable A/c $6,130To Interest Revenue A/c $6,130(Being interest revenue for three months on Jerris Corp. bonds earned on December 31, 2012)
3. The receipt of semiannual interest on April 1, 2013Cash A/c $6,130To Interest Receivable A/c $6,130(Being semiannual interest revenue on Jerris Corp. bonds earned on April 1, 2013)
4. The sale of $112,000 of Jerris Corp bonds on April 1, 2013, at 101Cash A/c $113,120Gain on sale of Bonds A/c $1,120To Jerris Corp. Bond A/c $112,000(Being Jerris Corp. bonds sold at a premium on April 1, 2013)
Explanation: The journal entry is a systematic method of recording business transactions.
The four journal entries are: The initial acquisition of Jerris Corp. bonds on October 1, 2012
The adjusting entry for three months of accrued interest earned on the Jems Corp. bonds on December 31, 2012
The receipt of semiannual interest on April 1, 2013The sale of $112,000 of Jerris Corp bonds on April 1, 2013, at 101
These entries help to keep track of all transactions in a clear and systematic way.
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You've been asked to solve an analytical example to illustrate concretely effects of minimum wage and labor income tax legislation on employment and, therefore, unemployment. For this, you have decided to study Labor Demand of a firm whose production function is given by: Y = A K1/3 L2/3
For simplicity, you decide to assume that A = P = K = 1 , where A is factor productivity, P is price of the good sold by firm and K is amount of capital hired by firm. Recall, moreover, that optimal decision of any economic agent can be reduced to an equality between marginal revenue and marginal costs. In particular, firm will hire workers up to a point where marginal revenue (MR) of their labor equals marginal cost (MC). Given production function you have decided to use for analysis, marginal productivity (MPL) of labor is given by: MPL = 2/3L-1/3
Suppose, further, that supply of labor is monotonic and increasing in wage: Ls = w2
a) In first instance, describe how labor market behaves in this economy if there is no market regulation. Determine WAGE, EMPLOYMENT and UNEMPLOYMENT.
b) Now consider effects of introducing a minimum wage (wm). What's EMPLOYMENT and UNEMPLOYMENT RATES if wm = 1? What if wm = 0.5? How does this market differ from the one described in a)? Suppose, further, that government has an unemployment insurance policy of wg = 0.2. In this context, how much would an unemployed person be willing to pay a recruiter to get a job?
c) Finally, consider impact of introducing a 5% wage tax (this tax has legal incidence on employers). Calculate EMPLOYMENT and UNEMPLOYMENT RATES when wm = 0 and wm = 1. [Help: if w is the wage received by a female worker, cost (to employer) of hiring her is w * 1.05].
(a) wage = 3.375, employment = 11.39, unemployment = 0
(b) when wm = 1, employment = 0.2963, unemployment = 0.7037, and when wm = 0.5, same as part a) and unemployed person be willing to pay = 0.2
(c) when wm = 0, same as (a) and when wm = 1, employment = 0.2811 and unemployment = 0.7189
a) In the absence of market regulation, the labor market MR = MC
MR = MPL * P
Since A = P = K = 1, the marginal revenue of labor simplifies to MR = MPL
MPL = w
2/3[tex]L^{-1/3}[/tex] = w
Since Ls = [tex]w^{2}[/tex],
2/3[tex](w^{2})^{-1/3}[/tex]= w
2/3[tex]w^{-2/3}[/tex] = w
2[tex]w^{1/3}[/tex] = 3
[tex]w^{1/3}[/tex]= 3/2
w = [tex](3/2)^{3}[/tex]
w = 3.375
Equilibrium wage = 3.375
The corresponding level of employment L = [tex]w^{2}[/tex]= [tex]{3.375}^2[/tex] = 11.39 and the unemployment, in this case, is zero.
b) Let's consider two scenarios:
wm (minimum wage) = 1 and wm (minimum wage) = 0.5.
For wm = 1, the minimum wage is set at 1.
Equilibrium wage without regulation = 3.375.
MPL = w
2/3[tex]L^{-1/3}[/tex]) = 1
[tex]L^{-1/3}[/tex] = 3/2
L = [tex](3/2)^{-3}[/tex]
L = 0.2963
When wm = 1, the employment level is approximately 0.2963, and the unemployment rate is Ls - L = 1 - 0.2963 = 0.7037.
For wm = 0.5, the minimum wage is lower than the equilibrium wage of 3.375.
In this case, the minimum wage is not binding, and the labor market behaves as if there is no regulation.
Thus, the employment and unemployment rates will be the same as in part a): L = 11.39, and the unemployment rate is 0.
With an unemployment insurance policy of wg = 0.2
An unemployed person would be willing to pay a recruiter an amount equal to their unemployment insurance benefit (wg) to obtain a job.
In this case, the unemployed person would be willing to pay 0.2 to the recruiter.
c) When a 5% wage tax is introduced, the cost to the employer for hiring a worker is w * 1.05.
Calculate the employment and unemployment rates for wm = 0 and wm = 1.
For wm = 0, the labor market behaves as in part a).
For wm = 1
Wage tax = 5%
Cost of hiring a worker = (w * 1.05).
MPL = w * 1.05
2/3[tex]L^{-1/3}[/tex] = w * 1.05
[tex]L^{-1/3}[/tex] = 3w/2
L =[tex](3w/2)^{-3}[/tex]
L = [tex](3 * 3.375 / 2)^{-3}[/tex]
L = 0.2811
Thus, when wm = 1 with a 5% wage tax, the employment level is approximately 0.2811
the unemployment rate: Ls - L = 1 - 0.2811 = 0.7189.
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Though the prices of the things he buys have gone up about 5% per year over the past three years, Sanjiv's annual income has remained constant in nominal terms (meaning before adjusting for inflation) during that period. However, Sanjiv feels happier now than he did three years ago because the environment where he lives is cleaner, the crime rate has dropped, and he has a new manager now who treats him in a kinder and respectful way than his previous manager. If the majority of the people who live in Sanjiv's city feel the same way about their situations, then we might conclude that over the past three years, the standard of living in that city has: O increased, but the quality of life has decreased. O increased, and so has the quality of life. O declined, and so has the quality of life. O declined, but the quality of life has increased.
The answer to the given scenario is that the standard of living in that city has increased, and so has the quality of life even though the prices of the things Sanjiv buys have gone up about 5% per year over the past three years and his annual income has remained constant in nominal terms.
However, Sanjiv feels happier now than he did three years ago because the environment where he lives is cleaner, the crime rate has dropped, and he has a new manager now who treats him in a kinder and respectful way than his previous manager.As the majority of the people who live in Sanjiv's city feel the same way about their situations, it could be concluded that the standard of living in that city has increased. The term “standard of living” refers to the amount of money a person or a community has to spend on goods and services that contribute to the quality of life. It includes factors such as housing, transportation, education, healthcare, and food. The standard of living is used to measure a community's economic well-being. It reflects how well people in a given location live. The fact that people in Sanjiv's city are experiencing an improved quality of life despite the fact that Sanjiv's annual income has remained constant means that the standard of living in that city has increased, and so has the quality of life.
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1.) What are two ways the information in this video can help you personally as a social worker?
2.) How does this information relate to our future clients?
As a social worker, the information in this video can help me personally in two ways. Firstly, the video helps me to understand the root causes of poverty and the importance of social welfare programs in combating poverty. This information is crucial to my work as a social worker.
The video provides valuable insights into the causes of poverty and the role of social welfare programs in combating poverty. As a social worker, this information is essential for understanding the complex issues that my clients face and for developing effective strategies to help them overcome these challenges. Additionally, the video highlights the importance of advocacy and policy work in addressing poverty, which can help me to become a more effective advocate for my clients and for social justice more broadly. The information in this video is directly related to our future clients because poverty is a significant issue that affects many individuals and families. The video highlights the impact of poverty on health, education, and social outcomes, which are all issues that social workers work to address.
Social workers work with individuals and families who are impacted by poverty on a daily basis. By understanding the root causes of poverty and the impact of poverty on health, education, and social outcomes, social workers can develop more effective strategies to address the needs of their clients and to advocate for policies and programs that support their clients' needs. Additionally, social workers can use this information to educate their clients about the impact of poverty and to help them access the resources they need to improve their quality of life.
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On May 1,2002, Marek recieved a telegram from Sergei offering to support him in his new construction project. On May 5, 2002, at 9:00 am, Sergei sends Marek a telegram attempting to revoke the offer. At 11:00 am on the sameday, Marek mails Sergei a letter attempting to accept the offer. At 11:30 am, Marek recieves Sergei's revocation. Assume Marek and Sergei are both construction contractors and the custom in the construction buisness is to offer by telegram and accept by mail. Which of the following statements holds true in this situation?
A. Sergei's revaction can make changes to the contract, though it reaches Marek after he sends the acceptance mail.
B. Marek's acceptance would be effective only when Sergei reads the acceptance, which would the create the contract.
C. THe parties would have a contract because Marek used the means of communication impliedly authorized by trade usage.
D. The parties would not have a contract as Marek used a nonauthorized means of communicating his acceptance.
2. Which of the following is true about the "Battle of the forms" of the Uniform Commercial Code?
A. Timely expression of acceptances creates a contract even if it states additional terms on points the offer did not address.
B. Timely expression of acceptances creates a contract only if it includes terms that are identical to those stated in the offer.
C. If one of those parties is a merchant, the additional terms in the offeree's form are included in the agreement.
D. A contract is created when the attempted acceptance is expressly conditional on the offeror's agreement to the terms of the acceptance.
Option A is not true in the first situation. Sergei's revocation will not make changes to the contract, even though it reaches Marek after he sends the acceptance mail.
Option C is true in the second situation. The parties would have a contract because Marek used the means of communication impliedly authorized by trade usage.
In the given scenario, it can be observed that the parties, Marek and Sergei are both construction contractors, and the custom in the construction business is to offer by telegram and accept by mail. On May 1, 2002, Marek received a telegram from Sergei offering to support him in his new construction project. On May 5, 2002, at 9:00 am, Sergei sends Marek a telegram attempting to revoke the offer, and at 11:00 am on the same day, Marek mails Sergei a letter attempting to accept the offer, and at 11:30 am, Marek receives Sergei's revocation.
As per the law, a contract can be established through the postal rule, which establishes the moment of acceptance as the moment when a letter is sent, and not when it is received. However, the postal rule only applies to acceptances and not to revocations. Hence, Sergei's revocation will not make changes to the contract, even though it reaches Marek after he sends the acceptance mail. Therefore, option A is not true in this situation.
As Marek accepted the offer by mail, the contract will become effective when it is received by Sergei. Therefore, Marek's acceptance would be effective only when Sergei reads the acceptance, which would create the contract. Therefore, option B is not true in this situation.
As the parties belong to the construction business, and the custom of the business is to offer by telegram and accept by mail, the means of communication used by Marek to accept the offer are impliedly authorized by trade usage. Therefore, the parties would have a contract because Marek used the means of communication impliedly authorized by trade usage. Therefore, option C is true in this situation.
The battle of the forms of the Uniform Commercial Code establishes that if the parties are merchants, the additional terms in the offeree's form are included in the agreement. Therefore, option C is true in this situation.
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Suppose 12-P₁+ P₂/2 and 92 and 2. the demand for goods 1 and 2 are respectively q₁ = 12-P2 + p₁/2. No costs are incurred to produce goods 11 Q13) Suppose monopoly 1 produces good 1 and monopoly Determine the profit maximizing price set by monopoly 1. . Q14) Suppose a single monopoly produces both goods. Determine the profit maximizing price for good
The demand functions for goods 1 and 2 are respectively as follows:q₁ = 12-P₂+ p₁/2and q₂ = 92 - P₁ + 2P₂No costs are incurred to produce goods, that is, the profits for the two monopolies are equal to their respective revenues.
The profit of a monopolist is given by the product of the difference between the price and the average variable cost (AVC) times the quantity sold. Since there are no costs in this problem, profit equals revenue.Monopoly 1 is the only firm that produces good 1. To determine the profit-maximizing price of monopoly 1, we need to take the derivative of its revenue function with respect to its price, set it equal to zero, and solve for P₁.R₁ = P₁q₁R₁ = P₁[12 - P₂ + P₁/2]R₁ = 12P₁ - P₁P₂ + P₁²/2dR₁/dP₁ = 12 - P₂ + P₁/2 = 0P₁/2 = P₂ + 12P₁ = 2P₂ + 24We can now solve the second demand equation to obtain the relationship between P₁ and P₂.q₂ = 92 - P₁ + 2P₂0 = 92 - P₁ + 2P₂P₁ = 92 + 2P₂P₂ = (P₁ - 92)/2Now we can substitute for P₂ in terms of P₁ in the expression for the revenue of monopoly 1.R₁ = 12P₁ - P₁[(P₁ - 92)/2] + P₁²/2R₁ = -P₁²/2 + 104P₁As with monopoly 1, the profit of monopoly 2 equals its revenue. We can use the same steps as above to find its revenue function and the equation for the relationship between P₁ and P₂. The revenue function for monopoly 2 is:R₂ = P₂q₂R₂ = P₂[92 - P₁ + 2P₂]R₂ = -P₁P₂ + 92P₂ + 2P₂²dR₂/dP₂ = -P₁ + 184P₂ = 0P₂ = P₁/184Now that we have an expression for P₂ in terms of P₁, we can substitute it into the expression for the revenue of monopoly 2.R₂ = -P₁(P₁/184) + 92(P₁/184) + 2(P₁/184)²R₂ = -P₁²/184 + P₁/2Now we have expressions for the revenues of both monopolies in terms of P₁. The total revenue is the sum of these two revenues.TC = R₁ + R₂TC = -P₁²/2 + 104P₁ - P₁²/184 + P₁/2TC = -193P₁²/368 + 209P₁The profit-maximizing price of a single monopoly that produces both goods can be found by setting the derivative of its total revenue with respect to P equal to zero and solving for P.P_TC = -193P/184 + 209 = 0P = 2156/193Therefore, the profit-maximizing price for good 1 is P₁ = 2156/193, and the profit-maximizing price for good 2 is P₂ = (2156/193 - 92)/2 = 933/193.
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Q13) Answer: Profit maximizing price set by monopoly 1 is P1 = P2 - 12.
Q14) Answer: The profit-maximizing price for good 1 is P1 = 2P2.
Given demand functions for goods 1 and 2 are:
q1 = 12 - P2 + P1/2.............(i)
q2 = 92 and 2...........................(ii)
The total revenue for monopoly 1 can be derived from (i) as:
P1q1 = P1(12 - P2 + P1/2)......(iii)
We have to find the profit-maximizing price set by monopoly 1, which is the price of good 1. To do this, we must first find the expression for the total revenue of monopoly 1 in terms of P1 only.
As per (iii), the total revenue of monopoly 1 in terms of P1 only is:
P1q1 = P1(12 - P2 + P1/2)= 12P1 - P1P2 + (P1)2/2
For profit maximization, monopoly 1 must set the price such that its marginal revenue (MR) is equal to zero.
MR = dTR/dQ1MR = 12 - P2 + P1= 0 => P1 = P2 - 12
Therefore, the profit-maximizing price set by monopoly 1 is P1 = P2 - 12.
Q14) Solution: The total revenue for both goods is:
P1q1 + P2q2= P1(12 - P2 + P1/2) + P2(92 and 2)= 12P1 - P1P2 + (P1)2/2 + 92 and 2P2
To obtain the profit-maximizing price of good 1, we need to derive the expression for the marginal revenue (MR) of good 1.
MR1 = dTR/dq1= d/dq1 (P1q1 + P2q2)= P1/2 - P2d/dq1(P2q2)
[∵ P1 does not affect q2]=> P1/2 - P2(1) => P1/2 - P2 = 0=> P1 = 2P2.
Therefore, the profit-maximizing price for good 1 is P1 = 2P2.
Answer: The profit-maximizing price for good 1 is P1 = 2P2.
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The three orders of change include: O First, Second, Third O Low-level; Mid-Level; High-Level O Unfreeze; Change; Refreeze O One, Two, Three O None of the Answers Are Correct
The three orders of change, as proposed by Kurt Lewin's change management model, involve Unfreeze; Change; Refreeze, option 3 is correct.
The stage to unfreeze is about preparing individuals and the organization to let go of old habits, beliefs, and behaviors. It involves creating awareness of the need for change and overcoming resistance. The stage of change focuses on implementing the desired changes. This involves introducing new systems, processes, behaviors, and attitudes. It requires effective communication, training, and support to facilitate the transition.
The stage to refreeze involves stabilizing the changes and integrating them into the organizational culture. It entails reinforcing new behaviors, norms, and practices, ensuring that the changes become the new status quo. By following this three-step process, organizations can navigate the complexities of change and increase the likelihood of successful implementation, option 3 is correct.
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------- The complete question is:
The three orders of change, as proposed by Kurt Lewin's change management model, involve:
1) First, Second, Third
2) Low-level; Mid-Level; High-Level
3) Unfreeze; Change; Refreeze
4) One, Two, Three
5) None of the Answers Are Correct -------
Princeton Company sold products for a unit sales price of tk.100. In 2020, the company earned a net income of tk.240000. The variable cost of the products was tk.40 per unit and the fixed cost was tk.600000. Management expects per unit data and total fixed costs to remain the same in 2021. The chairman of the company has decided to increase the target profit by tk. 12000 in 2021. Instructions: a) Compute the number of units sold in 2019. b) Identify the number of units that would have to be sold in 2020 to reach the stockholders' desired profit level.
a) The number of units sold in 2019 was 4,000 units, while b) in 2020, the company would need to sell 15,700 units to reach the desired profit level.
a) To compute the number of units sold in 2019, we divide the net income of Tk.240,000 by the contribution margin per unit of Tk.60, resulting in 4,000 units sold. This calculation helps determine the sales volume that contributed to the net income achieved in 2020.
b) In 2020, the company aims to increase the target profit by Tk.12,000. To reach this desired profit level, the fixed costs of Tk.600,000 are added to the target profit, resulting in a total target profit of Tk.252,000. By dividing the total target profit by the contribution margin per unit of Tk.60, we find that the company would need to sell 15,700 units in 2020.
Therefore, the number of units sold in 2019 was 4,000 units, contributing to the net income of Tk.240,000. To meet the desired profit increase of Tk.12,000 in 2020, the company would need to sell 15,700 units. These calculations provide insights into the sales volume required to achieve the desired profit levels and help with planning and decision-making for the company.
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For four years, Marty Campbell invested $7,000 each year in Harley-Davidson. The stock was selling for $74 in 2017, $76 in 2018, $57 in 2019, and $77 in 2020. a. What is Marty's total investment in Harley-Davidson? b. After four years, how many shares does Marty own? (Round your intermediate calculations and final answer to nearest whole number.) c. What is the average cost per share of Marty's investment? (Use the rounded number of shares computed in part b. Round your answer to 2 decimal places.)
Answer:
a. To find Marty's total investment in Harley-Davidson, we sum up the annual investments over the four-year period:
Total Investment = $7,000 + $7,000 + $7,000 + $7,000 = $28,000.
Explanation:
Therefore, Marty's total investment in Harley-Davidson is $28,000.
b. To calculate the number of shares Marty owns after four years, we divide the total investment by the price of the stock in each year and sum up the number of shares acquired:
Number of Shares = ($7,000 / $74) + ($7,000 / $76) + ($7,000 / $57) + ($7,000 / $77).
Number of Shares ≈ 94.59 + 92.11 + 122.81 + 90.91 ≈ 400.42.
Since shares cannot be in decimal form, we round the number to the nearest whole number. Therefore, Marty owns approximately 400 shares after four years.
c. The average cost per share of Marty's investment can be calculated by dividing the total investment by the number of shares:
Average Cost per Share = Total Investment / Number of Shares.
Average Cost per Share ≈ $28,000 / 400 ≈ $70.00 (rounded to 2 decimal places).
Therefore, the average cost per share of Marty's investment is approximately $70.00.
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according to the bad weather video, when a driver stops on slick pavement by pressing the brake firmly to the point just before the wheels lock is known as _____ braking.
According to the information provided in the bad weather video, when a driver stops on slick pavement by pressing the brake firmly to the point just before the wheels lock, it is known as threshold braking.
Threshold braking is a technique used to maximize braking effectiveness while maintaining control of the vehicle on slippery surfaces. By applying steady pressure to the brake pedal without allowing the wheels to lock up, the driver can achieve optimal braking force and prevent the loss of traction that can occur when the wheels lock.
This technique allows the driver to maintain steering control and reduce the risk of skidding or sliding during the braking maneuver.
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Business Law
Mr. Bean had planned to have a holiday in Redang Island. After browsing the internet Mr. Bean
had made an online reservation for 3days and 2 nights for Redang Sun Rise Resort from 10
March 2022 to 12 March 2022. Mr. Bean had requested for deluxe room with a sea view. As
part of his reservation, Mr. Bean had also given the hotel his credit card details to confirm his
reservations.
Explain if there is a legally binding contract between Mr Bean and Redang Sun Rise Resort. Your
answer should include the explanation and application of all the essential elements for the
formation of a contract.
Yes, there is a legally binding contract between Mr. Bean and Redang Sun Rise Resort.
The essential elements for the formation of a contract are: offer and acceptance, consideration, intention to create legal relations, and capacity to contract. In this case, Mr. Bean made an offer by submitting an online reservation with specific details. The hotel accepted the offer by confirming the reservation. Consideration is provided through Mr. Bean's credit card details. Both parties intended to create legal relations, and they have the capacity to contract. Therefore, a legally binding contract exists between Mr. Bean and Redang Sun Rise Resort.
Mr. Bean and Redang Sun Rise Resort have a legally binding contract because they fulfill the essential elements for a contract. Mr. Bean made an offer by making an online reservation, and the hotel accepted it. Consideration is provided through Mr. Bean's credit card details, and both parties intended to create legal relations. Additionally, they have the capacity to contract. These factors establish the presence of a legally enforceable agreement between Mr. Bean and Redang Sun Rise Resort.
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In his book "Life in Management", the late Dr. Ghazi Abdalrahman Al-Qosaibi(e), dearly stated that the most effective span of control- This type of span of control is usually associated with a ...................organizational height. A) is a short span; tall B) is a narrow span; tall C) has a maximum of three to six subordinates; flat D) has a maximum of six to seven subordinates; flat
In his book "Life in Management," Dr. Ghazi Abdalrahman Al-Qosaibi stated that the most effective span of control is a narrow span. This type of span of control is usually associated with a tall organizational height. Thus, option B) is correct.
A narrow span of control refers to a situation where a manager has a limited number of subordinates reporting directly to them. This allows for closer supervision, effective communication, and individual attention to each subordinate.
By having fewer subordinates, the manager can dedicate more time and resources to each employee, ensuring better guidance, feedback, and support. The concept of a narrow span of control is usually associated with a tall organizational height.
Tall organizations have multiple hierarchical levels, with several layers of management. This structure allows for the distribution of authority and responsibilities across different managerial levels, reducing the number of subordinates reporting to each manager.
A narrow span of control and tall organizational height can facilitate efficient coordination, decision-making, and control within the organization. It allows for clearer communication channels, faster dissemination of information, and more effective monitoring of performance.
In conclusion, according to Dr. Ghazi Abdalrahman Al-Qosaibi, a narrow span of control is considered the most effective, and it is typically associated with a tall organizational height.
This combination allows for better supervision and communication within the organization, contributing to improved managerial effectiveness and organizational performance. Thus, option B) is correct.
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Partzman Co. paid a dividend of $4.52 on its common stock at the end of last year. The company's dividends are expected to grow at a constant rate of 4% indefinitely. If the required rate of return on this stock is 18%, compute the current value per share of Partzman Co. stock. Submit your answer in dollars and round to two decimal places (Ex. $0.00)
Put the following in order of their claim on assets of a firm, starting with the FIRST to have a claim:
I. Bonds
II. Common Stock
III. Preferred Stock
a. I, II, III
b. III, I, II
c. II, III, I
d. I, III, II
The current value per share of Partzman Co. stock is approximately $32.29, calculated using the Gordon Growth Model with a dividend of $4.52, a dividend growth rate of 4%, and a required rate of return of 18%. The correct order of their claim on assets of a firm is: I. Bonds, II. Common Stock, III. Preferred Stock (option a. I, II, III).
To calculate the current value per share of Partzman Co. stock, we can use the Gordon Growth Model:
Current Value per Share = Dividend / (Required Rate of Return - Dividend Growth Rate)
Given that the dividend is $4.52 and the dividend growth rate is 4%, and the required rate of return is 18%:
Current Value per Share = $4.52 / (0.18 - 0.04) = $4.52 / 0.14 ≈ $32.29
Therefore, the current value per share of Partzman Co. stock is approximately $32.29.
The correct order is option a. I, II, III because bonds have the first claim on the assets of a firm, followed by common stock, and then preferred stock.
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In which of the following ways can a bank acquire liquidity?
O1. Selling Fed funds
O2. Investing in repurchase agreements
O 3. Selling Treasury securities
O4. Increasing the number of loans outstanding
A bank is defined as a financial institution that accepts deposits from the public and creates credit. It gives out loans and invests the funds deposited with it to generate returns for its investors. Therefore, acquiring liquidity becomes important to a bank as it allows it to meet its cash requirements in the event of an emergency or to satisfy the customers' demands.
The following are the ways in which a bank can acquire liquidity: Selling Fed funds: Fed funds are the reserves that banks hold with the Federal Reserve Bank. It's a way to loan money overnight to other banks. Banks can acquire liquidity by selling these funds to other banks. Investing in repurchase agreements: Repurchase agreements are short-term agreements between a seller and a buyer to purchase securities at a higher price and then repurchase them at a lower price. By entering into these agreements, a bank can acquire liquidity. Selling Treasury securities: Treasury securities can be easily liquidated, and the cash obtained can be used to meet the cash requirements of the bank. Therefore, selling Treasury securities is another way a bank can acquire liquidity. Increasing the number of loans outstanding: Although it may seem counterintuitive, increasing the number of loans outstanding can also help a bank acquire liquidity. Banks receive cash from borrowers when loans are granted, and they can use this cash to meet their liquidity needs.
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